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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2013	Mar. 24, 2014	Jun. 30, 2013
Document and Entity Information [Abstarct]
Entity Registrant Name	Cyclacel Pharmaceuticals, Inc.
Entity Central Index Key	0001130166
Trading Symbol	cycc
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		19,819,332
Entity Public Float			$ 51,061,987
Document Type	10-K
Document Period End Date	Dec. 31, 2013
Amendment Flag	false
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 31,146	$ 16,412
Prepaid expenses and other current assets	3,388	1,599
Current assets of discontinued operations	639	861
Total current assets	35,173	18,872
Property, plant and equipment (net)	275	129
Long-term assets of discontinued operations	72	353
Total assets	35,520	19,354
Current liabilities:
Accounts payable	2,545	2,259
Accrued and other current liabilities	4,672	5,601
Economic Rights measured at fair value		1,120
Other liabilities measured at fair value	20	20
Current liabilities of discontinued operations	260	335
Total current liabilities	7,497	9,335
Total liabilities	7,497	9,335
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized at December 31, 2012 and 2013; 1,213,142 and 335,273 shares issued and outstanding at December 31, 2012 and 2013. Aggregate preference in liquidation of $14,436,390 and $3,989,749 at December 31, 2012 and 2013, respectively.		1
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2012 and 2013; 8,686,484 and 19,369,332 shares issued and outstanding at December 31, 2012 and 2013, respectively.	19	9
Additional paid-in capital	317,543	280,211
Accumulated other comprehensive income (loss)	(109)	48
Deficit accumulated during the development stage	(289,430)	(270,250)
Total stockholders' equity	28,023	10,019
Total liabilities and stockholders' equity	$ 35,520	$ 19,354

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	335,273	1,213,142
Preferred stock, shares outstanding	335,273	1,213,142
Preferred stock, liquidation preference value (in dollars)	$ 3,989,749	$ 14,436,390
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	19,369,332	8,686,484
Common stock, shares outstanding	19,369,332	8,686,484

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended			209 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Revenues:
Collaboration and research and development revenue				$ 3,100
Grant revenue	$ 1,084	$ 69		4,801
Total revenues	1,084	69		7,901
Operating expenses:
Research and development	11,277	6,592	$ 9,206	203,668
General and administrative	7,781	8,580	6,542	97,192
Goodwill and intangibles impairment				2,747
Other restructuring costs				2,634
Total operating expenses	19,058	15,172	15,748	306,241
Operating loss	(17,974)	(15,103)	(15,748)	(298,340)
Other income (expense):
Costs associated with aborted 2004 IPO				(3,550)
Payment under guarantee				(1,652)
Non-cash consideration associated with stock purchase agreement	(98)	(423)		(521)
Change in valuation of Economic Rights	570	(23)		547
Change in valuation of liabilities measured at fair value		51	609	6,378
Foreign exchange (losses) gains	62	292	(74)	(3,943)
Interest income	13	22	45	13,760
Interest expense				(4,567)
Other income (expense), net	5,547	77		5,624
Total other income (expense), net	6,094	(4)	580	12,076
Loss from continuing operations before taxes	(11,880)	(15,107)	(15,168)	(286,264)
Income tax benefit	1,670	1,351	565	21,465
Net loss from continuing operations	(10,210)	(13,756)	(14,603)	(264,799)
Discontinued operations:
(Loss) income from discontinued operations	91	907	(640)	(11,718)
Income tax on discontinued operations	(34)	(337)		(371)
Net (loss) income from discontinued operations	57	570	(640)	(12,089)
Net loss	(10,153)	(13,186)	(15,243)	(276,888)
Dividend on preferred ordinary shares				(38,123)
Deemed dividend on convertible exchangeable preferred shares	(9,027)			(12,542)
Dividend on convertible exchangeable preferred shares	(298)	(728)	(728)	(4,683)
Net loss applicable to common shareholders	$ (19,478)	$ (13,914)	$ (15,971)	$ (332,236)
Net loss per share, continuing operations - basic and diluted (in dollars per share)	$ (1.29)	$ (1.75)	$ (2.13)
Net (loss) income per share, discontinued operations - basic and diluted (in dollars per share)	0.00	0.07	(0.09)
Net loss per share - basic and diluted (in dollars per share)	$ (1.28)	$ (1.68)	$ (2.22)
Weighted average common shares outstanding (in shares)	15,158,225	8,291,802	7,185,877

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	9 Months Ended	12 Months Ended															209 Months Ended
	Dec. 31, 2003	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008	Dec. 31, 2007	Dec. 31, 2006	Dec. 31, 2005	Dec. 31, 2004	Mar. 31, 2003	Mar. 31, 2002	Mar. 31, 2001	Mar. 31, 2000	Mar. 31, 1999	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss from continuing operations		$ (10,210)	$ (13,756)	$ (14,603)													$ (264,799)
(Loss) income from discontinued operations, net of tax		57	570	(640)													(12,089)
Net loss	$ (14,977)	(10,153)	(13,186)	(15,243)	$ (16,021)	$ (19,570)	$ (40,386)	$ (24,053)	$ (29,258)	$ (18,048)	$ (22,742)	$ (15,542)	$ (14,853)	$ (10,382)	$ (5,686)	$ (3,964)	(276,888)
Translation adjustment	(1,343)	(2,908)	(4,559)	648	2,084	(5,589)	14,918	(93)	416	(1,786)	2,424	(1,846)	191	(466)	(194)	11	(2,193)
Unrealized foreign exchange (loss) gain on intercompany loans		2,751	4,550	(622)	(2,073)	5,651	(12,330)										2,084
Comprehensive loss	$ (16,320)	$ (10,310)	$ (13,195)	$ (15,217)	$ (16,010)	$ (19,508)	$ (37,798)	$ (24,146)	$ (28,842)	$ (19,834)	$ (20,318)	$ (17,388)	$ (14,662)	$ (10,848)	$ (5,880)	$ (3,953)	$ (276,997)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Preferred Stock	Common stock	Additional paid-in capital	Accumulated other comprehensive income/(loss)	Deferred compensation	Deficit accumulated during development stage	Total
Balance at Aug. 13, 1996
Balance (in shares) at Aug. 13, 1996
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses			1,000				1,000
Translation adjustment				(4,000)			(4,000)
Loss for the year						(290,000)	(290,000)
Balance at Mar. 31, 1997			1,000	(4,000)		(290,000)	(293,000)
Balance at Aug. 13, 1996
Balance (in shares) at Aug. 13, 1996
Increase (Decrease) in Stockholders' Equity
Unrealized foreign exchange on intercompany loans							2,084,000
Translation adjustment							(2,193,000)
Loss for the year							(276,888,000)
Balance at Dec. 31, 2013		$ 19,000	317,543,000	(109,000)		(289,430,000)	28,023,000
Balance (in shares) at Dec. 31, 2013	335,273	19,369,332
Balance at Mar. 31, 1997			1,000	(4,000)		(290,000)	(293,000)
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses			4,217,000				4,217,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		38,111
Issue of shares for IP rights agreement, research & development agreement and license agreement			262,000				262,000
Stock-based compensation			2,002,000		(2,002,000)
Amortization of deferred stock-based compensation					302,000		302,000
Translation adjustment				55,000			55,000
Loss for the year						(2,534,000)	(2,534,000)
Balance at Mar. 31, 1998			6,482,000	51,000	(1,700,000)	(2,824,000)	2,009,000
Balance (in shares) at Mar. 31, 1998		38,111
Increase (Decrease) in Stockholders' Equity
Amortization of deferred stock-based compensation					406,000		406,000
Translation adjustment				11,000			11,000
Loss for the year						(3,964,000)	(3,964,000)
Balance at Mar. 31, 1999			6,482,000	62,000	(1,294,000)	(6,788,000)	(1,538,000)
Balance (in shares) at Mar. 31, 1999		38,111
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses			12,717,000				12,717,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		76,984
Issue of shares on conversion of bridging loan and Loan Note Instrument			1,638,000				1,638,000
Issue of shares on conversion of bridging loan and Loan Note Instrument (in shares)		12,943
Issue of shares in lieu of cash bonus			164,000				164,000
Issue of shares in lieu of cash bonus (in shares)		1,294
Issue of shares for IP rights agreement, research & development agreement and license agreement			409,000				409,000
Issue of common stock upon exercise of stock options			40,000				40,000
Issue of common stock upon exercise of stock options (in shares)		324
Stock-based compensation			167,000		(167,000)
Amortization of deferred stock-based compensation					433,000		433,000
Translation adjustment				(194,000)			(194,000)
Loss for the year						(5,686,000)	(5,686,000)
Balance at Mar. 31, 2000			21,617,000	(132,000)	(1,028,000)	(12,474,000)	7,983,000
Balance (in shares) at Mar. 31, 2000		129,656
Increase (Decrease) in Stockholders' Equity
Stock-based compensation			294,000		(294,000)
Amortization of deferred stock-based compensation					275,000		275,000
Translation adjustment				(466,000)			(466,000)
Loss for the year						(10,382,000)	(10,382,000)
Balance at Mar. 31, 2001			21,911,000	(598,000)	(1,047,000)	(22,856,000)	(2,590,000)
Balance (in shares) at Mar. 31, 2001		129,656
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		779
Issue of warrants in connection with registered direct offering			1,215,000				1,215,000
Issue of shares for IP rights agreement, research & development agreement and license agreement			183,000				183,000
Issue of shares for IP rights agreement, research & development agreement and license agreement (in shares)		644
Issue of common stock upon exercise of stock options			106,000				106,000
Stock-based compensation			363,000		(363,000)
Amortization of deferred stock-based compensation					672,000		672,000
Translation adjustment				191,000			191,000
Loss for the year						(14,853,000)	(14,853,000)
Balance at Mar. 31, 2002			23,778,000	(407,000)	(738,000)	(37,709,000)	(15,076,000)
Balance (in shares) at Mar. 31, 2002		131,079
Increase (Decrease) in Stockholders' Equity
Issue of common stock upon exercise of stock options			12,000				12,000
Stock-based compensation			(84,000)		84,000
Amortization of deferred stock-based compensation					305,000		305,000
Translation adjustment				(1,846,000)			(1,846,000)
Loss for the year						(15,542,000)	(15,542,000)
Balance at Mar. 31, 2003			23,706,000	(2,253,000)	(349,000)	(53,251,000)	(32,147,000)
Balance (in shares) at Mar. 31, 2003		131,079
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses			27,635,000				27,635,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		215,755
Preferred stock conversion		$ 1,000	58,147,000				58,148,000
Preferred stock conversion (in shares)		538,449
Issue of common stock upon exercise of stock options			115,000				115,000
Issue of common stock upon exercise of stock options (in shares)		936
Amortization of deferred stock-based compensation					217,000		217,000
Translation adjustment				(1,343,000)			(1,343,000)
Loss for the year						(14,977,000)	(14,977,000)
Balance at Dec. 31, 2003		$ 1,000	109,603,000	(3,596,000)	(132,000)	(68,228,000)	37,648,000
Balance (in shares) at Dec. 31, 2003		886,219
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses			8,541,000				8,541,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		61,510
Warrant exercise (in shares)		3,233
Stock-based compensation			(2,050,000)		132,000		(1,918,000)
Translation adjustment				2,424,000			2,424,000
Loss for the year						(22,742,000)	(22,742,000)
Balance at Dec. 31, 2004		$ 1,000	116,094,000	(1,172,000)		(90,970,000)	23,953,000
Balance (in shares) at Dec. 31, 2004		950,962
Increase (Decrease) in Stockholders' Equity
Translation adjustment				(1,786,000)			(1,786,000)
Loss for the year						(18,048,000)	(18,048,000)
Balance at Dec. 31, 2005		$ 1,000	116,094,000	(2,958,000)		(109,018,000)	4,119,000
Balance (in shares) at Dec. 31, 2005		950,962
Increase (Decrease) in Stockholders' Equity
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock (in shares)		92,630
Issue of shares on conversion of bridging loan and Loan Note Instrument (in shares)		65,187
Reverse Acquisition	$ 2,000		16,253,000				16,255,000
Reverse Acquisition (in shares)	2,046,813	281,133
Loan from Cyclacel Group plc waived			10,420,000				10,420,000
Issue of common stock and warrants for cash		$ 1,000	42,361,000				42,362,000
Issue of common stock and warrants for cash (in shares)		918,367
Stock-based compensation			9,600,000				9,600,000
Change in unrealized loss on investment				5,000			5,000
Translation adjustment				416,000			416,000
Loss for the year						(29,258,000)	(29,258,000)
Balance at Dec. 31, 2006	$ 2,000	$ 2,000	194,728,000	(2,537,000)		(138,276,000)	53,919,000
Balance (in shares) at Dec. 31, 2006	2,046,813	2,308,279
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses		$ 1,000	33,356,000				33,357,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		607,095
Issue of warrants in connection with registered direct offering			(6,750,000)				(6,750,000)
Issue of common stock upon exercise of stock options			163,000				163,000
Issue of common stock upon exercise of stock options (in shares)		3,644
Stock-based compensation			1,733,000				1,733,000
Preferred stock dividends declared			(307,000)				(307,000)
Translation adjustment				(93,000)			(93,000)
Loss for the year						(24,053,000)	(24,053,000)
Comprehensive loss for the year							(24,146,000)
Balance at Dec. 31, 2007	$ 2,000	$ 3,000	222,923,000	(2,630,000)		(162,329,000)	57,969,000
Balance (in shares) at Dec. 31, 2007	2,046,813	2,919,018
Increase (Decrease) in Stockholders' Equity
Stock-based compensation			1,698,000				1,698,000
Preferred stock dividends declared			(1,227,000)				(1,227,000)
Unrealized foreign exchange on intercompany loans				(12,330,000)			(12,330,000)
Translation adjustment				14,918,000			14,918,000
Loss for the year						(40,386,000)	(40,386,000)
Balance at Dec. 31, 2008	$ 2,000	$ 3,000	223,394,000	(42,000)		(202,715,000)	20,642,000
Balance (in shares) at Dec. 31, 2008	2,046,813	2,919,018
Increase (Decrease) in Stockholders' Equity
Warrant re-pricing			44,000				44,000
Issue of common stock for cash in an underwritten public offering, net of expenses		$ 1,000	2,846,000				2,847,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		571,429
Issue of common stock upon draw down of Committed Equity Finance Facility			1,030,000				1,030,000
Issue of common stock upon draw down of Committed Equity Finance Facility (in shares)		179,289
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock			7,000				7,000
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock (in shares)		7,887
Stock-based compensation			810,000				810,000
Unrealized foreign exchange on intercompany loans				5,651,000			5,651,000
Translation adjustment				(5,589,000)			(5,589,000)
Loss for the year						(19,570,000)	(19,570,000)
Balance at Dec. 31, 2009	$ 2,000	$ 4,000	228,131,000	20,000		(222,285,000)	5,872,000
Balance (in shares) at Dec. 31, 2009	2,046,813	3,677,623
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses		$ 1,000	11,896,000				11,897,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		742,857
Issue of common stock upon draw down of Committed Equity Finance Facility			4,863,000				4,863,000
Issue of common stock upon draw down of Committed Equity Finance Facility (in shares)		402,704
Warrant exercise			2,499,000				2,499,000
Warrant exercise (in shares)		374,038
Issue of common stock on private placement, net of expenses		$ 1,000	13,979,000				13,980,000
Issue of common stock on private placement, net of expenses (in shares)		1,189,028
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock			77,000				77,000
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock (in shares)		29,367
Preferred stock conversion	$ (1,000)		3,516,000			(3,515,000)
Preferred stock conversion (in shares)	(833,671)	236,514
Stock-based compensation			1,746,000				1,746,000
Unrealized foreign exchange on intercompany loans				(2,073,000)			(2,073,000)
Translation adjustment				2,084,000			2,084,000
Loss for the year						(16,021,000)	(16,021,000)
Balance at Dec. 31, 2010	$ 1,000	$ 7,000	266,706,000	31,000		(241,821,000)	24,924,000
Balance (in shares) at Dec. 31, 2010	1,213,142	6,652,131
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses		$ 1,000	9,271,000				9,272,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		1,088,235
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock			3,000				3,000
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock (in shares)		5,414
Issue of common stock upon exercise of stock options							$ 3,000
Issue of common stock upon exercise of stock options (in shares)							948
Stock-based compensation			882,000				$ 882,000
Preferred stock dividends declared			(364,000)				(364,000)
Unrealized foreign exchange on intercompany loans				(622,000)			(622,000)
Translation adjustment				648,000			648,000
Loss for the year						(15,243,000)	(15,243,000)
Balance at Dec. 31, 2011	$ 1,000	$ 8,000	276,498,000	57,000		(257,064,000)	19,500,000
Balance (in shares) at Dec. 31, 2011	1,213,142	7,745,780
Increase (Decrease) in Stockholders' Equity
Issue of common stock on private placement, net of expenses		$ 1,000	1,821,000				1,822,000
Issue of common stock on private placement, net of expenses (in shares)		669,726
Issue of common stock on share purchase agreement			1,418,000				1,418,000
Issue of common stock on share purchase agreement (in shares)		233,530
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock			94,000				94,000
Issue of common stock to certain directors and officers upon exercise of stock options, stock-based awards exercised, restricted stock units and restricted stock (in shares)		37,448
Issue of common stock upon exercise of stock options							$ 100,000
Issue of common stock upon exercise of stock options (in shares)							33,351
Stock-based compensation			380,000				$ 380,000
Unrealized foreign exchange on intercompany loans				4,550,000			4,550,000
Translation adjustment				(4,559,000)			(4,559,000)
Loss for the year						(13,186,000)	(13,186,000)
Balance at Dec. 31, 2012	$ 1,000	$ 9,000	280,211,000	48,000	$ 0	(270,250,000)	10,019,000
Balance (in shares) at Dec. 31, 2012	1,213,142	8,686,484
Increase (Decrease) in Stockholders' Equity
Issue of common stock for cash in an underwritten public offering, net of expenses		$ 6,000	19,000,000				19,006,000
Issue of common stock for cash in an underwritten public offering, net of expenses (in shares)		6,833,334
Issue of common stock on share purchase agreement		$ 2,000	9,124,000				9,126,000
Issue of common stock on share purchase agreement (in shares)		2,133,401
Preferred stock conversion	$ (1,000)	$ 2,000	9,026,000			(9,027,000)
Preferred stock conversion (in shares)	(877,869)	1,684,471
Issue of shares in lieu of cash bonus			181,000				181,000
Issue of shares in lieu of cash bonus (in shares)		31,642
Stock-based compensation			357,000				357,000
Preferred stock dividends			(356,000)				(356,000)
Unrealized foreign exchange on intercompany loans				2,751,000			2,751,000
Translation adjustment				(2,908,000)			(2,908,000)
Loss for the year						(10,153,000)	(10,153,000)
Balance at Dec. 31, 2013		$ 19,000	$ 317,543,000	$ (109,000)		$ (289,430,000)	$ 28,023,000
Balance (in shares) at Dec. 31, 2013	335,273	19,369,332

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended			209 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Operating activities:
Net loss	$ (10,153)	$ (13,186)	$ (15,243)	$ (276,888)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of interest on notes payable, net of amortization of debt premium				100
Amortization of investment premiums, net				(2,297)
Change in valuation of liabilities at fair value	(1,120)	(28)	(609)	(7,475)
Non-cash consideration associated with stock purchase agreement	98	423		521
Depreciation	70	60	241	12,685
Amortization of intangible assets				886
Fixed asset impairment				221
Unrealized foreign exchange losses				7,747
Deferred revenue				(98)
Compensation for warrants issued to non-employees				1,215
Gain on sale of patents	(5,500)			(5,500)
Shares issued for IP rights				446
Loss (gain) on disposal of property, plant and equipment		(62)	1	38
Goodwill and intangibles impairment				7,934
Stock-based compensation	357	380	882	19,760
Provision for restructuring				1,779
Amortization of issuance costs of Preferred Ordinary 'C' shares				2,517
Transaction costs on sale of Economic Rights		33		33
Gain on termination of distribution agreements		(1,192)		(1,192)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(1,201)	(239)	174	(1,498)
Accounts payable and other current liabilities	(750)	1,768	577	(4,295)
Net cash used in operating activities	(18,199)	(12,043)	(13,977)	(243,361)
Investing activities:
Purchase of ALIGN				(3,763)
Purchase of property, plant and equipment	(208)	(12)	(6)	(9,057)
Minimum royalty payments received from termination of ALIGN license agreement	396			396
Proceeds from sale of patents	5,500			5,500
Proceeds from sale of property, plant and equipment		62	5	225
Purchase of short-term investments on deposit, net of maturities				(156,657)
Cash proceeds from redemption of short term securities				162,729
Net cash (used in) provided by investing activities	5,688	50	(1)	(627)
Financing activities:
Payments of capital lease obligations				(3,719)
Proceeds from issuance of ordinary and preferred ordinary shares, net of issuance costs				121,678
Proceeds from issuance of common stock and warrants, net of issuance costs	27,637	3,881	9,267	123,189
Proceeds from the exercise of stock options and warrants, net of issuance costs		94	3	267
Payment of preferred stock dividend	(305)		(364)	(2,203)
Repayment of government loan				(455)
Government loan received				414
Loan received from Cyclacel Group plc				9,103
Proceeds of committable loan notes issued from shareholders				8,883
Loans received from shareholders				1,645
Cash and cash equivalents assumed on stock purchase of Xcyte				17,915
Costs associated with stock purchase				(1,951)
Net cash provided by financing activities	27,332	3,975	8,906	274,766
Effect of exchange rate changes on cash and cash equivalents	(87)	(19)	26	368
Net increase (decrease) in cash and cash equivalents	14,734	(8,037)	(5,046)	31,146
Cash and cash equivalents, beginning of period	16,412	24,449	29,495
Cash and cash equivalents, end of period	31,146	16,412	24,449	31,146
Cash received during the period for:
Interest	12	10	31	11,768
Taxes	970	$ 565	$ 685	19,742
Cash paid during the period for:
Interest				(1,914)
Schedule of non-cash transactions:
Acquisitions of equipment purchased through capital leases				3,470
Issuance of common shares in connection with license agreements				592
Issuance of Ordinary shares on conversion of bridging loan				1,638
Issuance of Preferred Ordinary 'C' shares on conversion of secured convertible loan notes and accrued interest				8,893
Issuance of Ordinary shares in lieu of cash bonus	$ 181			345
Issuance of other long term payable on ALIGN acquisition				$ 1,122

Organization of the Company

12 Months Ended

Dec. 31, 2013

Organization of the Company

Organization of the Company

Organization of the Company

Cyclacel Pharmaceuticals, Inc. (Cyclacel or the Company) is a development-stage biopharmaceutical company dedicated to the development and commercialization of novel, mechanism-targeted drugs to treat human cancers and other serious diseases. Cyclacel is focused on delivering leading edge therapeutic management of cancer patients based on a clinical development pipeline of novel drug candidates.

Cyclacel’s clinical development priorities are focused on sapacitabine, an orally available, cell cycle modulating nucleoside analogue.

Sapacitabine is being evaluated in the SEAMLESS Phase 3 trial being conducted under a Special Protocol Assessment (“SPA”) agreement with the US Food and Drug Administration (“FDA”) for the front-line treatment of acute myeloid leukemia (“AML”) in the elderly and in Phase 2 studies for AML, myelodysplastic syndromes (“MDS”), non-small cell lung cancer (“NSCLC”) and chronic lymphocytic leukemia. Sapacitabine is also being evaluated in a Phase 1 study in combination with seliciclib, our second clinical candidate, in patients with solid tumors. The FDA and the European Medicines Agency, or EMA, have designated sapacitabine as an orphan drug for the treatment of both AML and MDS.

The Company has evaluated seliciclib, an oral, highly selective inhibitor of CDK enzymes, in NSCLC and nasopharyngeal cancer (“NPC”). The Company will determine the feasibility of pursuing further development and/or partnering this asset and/or indications subject to available resources.

Our second generation CDK inhibitor, CYC065, is an oral, highly selective inhibitor of CDK enzymes. CYC065 has been shown to have increased anti-proliferative potency and improved pharmaceutical properties compared to seliciclib. Investigational new drug or IND-enabling studies with CYC065 are in progress supported by a $1.5 million grant from the Biomedical Catalyst of the United Kingdom government.

In addition to these development programs, the Company has allocated limited resources to other programs allowing the Company to maintain and build on its core competency in cell cycle biology and related drug discovery. These include CYC140, an internally-discovered, potent and selective, orally-available, small molecule inhibitor of PLK1, or polo-like kinase 1. PLKs are kinases active during cell division that target the mitotic phase of the cancer cell cycle. In the Company’s Aurora kinase inhibitor program, CYC116, an internally-discovered, orally-available, small molecule inhibitor of Aurora kinases A and B and Vascular Endothelial Growth Factor Receptor 2, or VEGFR2, has completed a multicenter Phase 1 trial. PLK and Aurora are cancer drug targets discovered by Professor David Glover, the Company’s Chief Scientist.

As a development stage enterprise, substantially all efforts of the Company to date have been devoted to performing research and development, conducting clinical trials, developing and acquiring intellectual property, raising capital and recruiting and training personnel.

Capital Resources

The Company’s existing capital resources are expected to be sufficient beyond the completion of the SEAMLESS Phase 3 trial but not sufficient to complete development of other indications or product candidates or to commercialize any of the Company’s product candidates.

Basis of Presentation

The accompanying consolidated financial statements as of December 31, 2012 and 2013, and for each of the three years in the period ended December 31, 2013 and for the period from August 13, 1996 (inception) to December 31, 2013, have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP. The consolidated financial statements include the financial statements of Cyclacel Pharmaceuticals, Inc. and all of the Company’s wholly owned subsidiaries. All intercompany balances and transactions have been eliminated.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical estimates include product returns reserve percentages and inputs used to determine stock-based compensation expense and the fair value of financial instruments, such as the Economic Rights and other liabilities measured at fair value. Cyclacel reviews its estimates on an ongoing basis. The estimates are based on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results may differ from these estimates. Cyclacel believes the judgments and estimates required by the following accounting policies to be significant in the preparation of the Company’s consolidated financial statements.

Risks and Uncertainties

Drug candidates developed by the Company typically will require approvals or clearances from the FDA or other international regulatory agencies prior to commercialize sales. There can be no assurance that the Company’s drug candidates will receive any of the required approvals or clearances. If the Company was denied approval or clearance or such approval was delayed, or is unable to obtain the necessary financing to complete development and approval, there will be a material adverse impact on the Company’s financial condition and results of operations.

Foreign Currency and Currency Translation

Transactions that are denominated in a foreign currency are remeasured into the functional currency at the current exchange rate on the date of the transaction. Any foreign currency-denominated monetary assets and liabilities are subsequently remeasured at current exchange rates, with gains or losses recognized as foreign exchange (losses) gains in the statement of operations.

The assets and liabilities of the Company’s international subsidiary are translated from its functional currency into United States dollars at exchange rates prevailing at the balance sheet date. Average rates of exchange during the period are used to translate the statement of operations, while historical rates of exchange are used to translate any equity transactions.

Translation adjustments arising on consolidation due to differences between average rates and balance sheet rates, as well as unrealized foreign exchange gains or losses arising from translation of intercompany loans that are of a long-term-investment nature, are recorded in other comprehensive income.

Segments

After considering its business activities and geographic reach, the Company has concluded that it operates in just one operating segment being the discovery, development and commercialization of novel, mechanism-targeted drugs to treat cancer and other serious disorders, with development operations in two geographic areas, namely the United States and the United Kingdom.

Cash and Cash Equivalents

Cash equivalents are stated at cost, which is substantially the same as fair value. The Company considers all highly liquid investments with an original maturity of three months or less at the time of initial purchase to be cash equivalents and categorizes such investments as held to maturity. The objectives of the Company’s cash management policy are to safeguard and preserve funds, to maintain liquidity sufficient to meet Cyclacel’s cash flow requirements and to attain a market rate of return.

Fair Value of Financial Instruments

Financial instruments consist of cash and cash equivalents, accounts payable, accrued liabilities, common stock warrants, financial instruments associated with stock purchase agreements, and other arrangements. The carrying amounts of cash and cash equivalents, accounts payable, and accrued liabilities approximate their respective fair values due to the nature of the accounts, notably their short maturities. The Economic Rights obligation, liability-classified warrants, financial instruments associated with stock purchase agreements, and certain other liabilities are measured at fair value using applicable inputs as described in Note 5 - Fair Value.

Property, Plant and Equipment

The components of property, plant and equipment are stated at cost and depreciated on a straight-line basis over the estimated useful lives of the related assets, which are generally three to five years. Amortization of leasehold improvements is performed using the straight-line method over the shorter of the remaining lease term or the estimated useful life of the related assets, currently between five and fifteen years. Upon sale or retirement of assets, the costs and related accumulated depreciation and amortization are removed from the balance sheet and the resulting gain or loss on sale is reflected as a component of operating income or loss. Expenditures for maintenance and repairs are charged to operating expenses as incurred.

During the year ended December 31, 2011, the Company sold fixed assets totaling approximately $6,000. During the year ended December 31, 2012, the Company sold fully depreciated assets for proceeds of approximately $0.1 million and there were no fixed assets sold during the year ended December 31, 2013.

Impairment of Long-lived Assets

The Company reviews property, plant and equipment for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company assesses the recoverability of the potentially affected long-lived assets by determining whether the carrying value of such assets can be recovered through undiscounted future operating cash flows.

Impairment, if any, is measured as the amount by which the carrying amount of a long-lived asset (or asset group) exceeds its fair value.

Revenue Recognition

Grant revenues from government agencies and private research foundations are recognized as the related qualified research and development costs are incurred, up to the limit of the prior approval funding amounts. Grant revenues are not refundable.

In prior periods, certain of the Company’s revenues were earned from collaborative agreements. The Company recognized revenue when persuasive evidence of an arrangement existed; delivery occurred or services were rendered; the fee was fixed or determinable; and collectability was reasonably assured. Determination of whether these criteria have been met was based on management’s judgments regarding the nature of the research performed, the substance of the milestones met relative to those the Company that were still to be performed, and the collectability of any related fees. Should changes in conditions cause management to determine these criteria are not met for certain future transactions, revenue recognized for any reporting period could be adversely affected.

Also in prior periods, research and development revenues were earned under agreements with third parties for contract research and development activities. Such revenues were recorded as the related services were performed. Milestone payments were non-refundable and recognized as revenue when earned, as evidenced by achievement of the specified milestones and the absence of ongoing performance obligations. Any amounts received in advance of performance were recorded as deferred revenue. None of the revenues recognized to date are refundable if the relevant research effort is not successful.

Clinical Trial Accounting

Data management and monitoring of the Company’s clinical trials are performed with the assistance of contract research organizations, or CROs, or clinical research associates, or CRAs, in accordance with the Company’s standard operating procedures. Typically, CROs and some CRAs bill monthly for services performed, and others bill based upon milestones achieved. For outstanding amounts, the Company accrues unbilled clinical trial expenses based on estimates of the level of services performed each period. Costs of setting up clinical trial sites for participation in the trials are expensed immediately as research and development expenses. Clinical trial costs related to patient enrollment are accrued as patients are entered into and progress through the trial. Any initial payment made to the clinical trial site is recognized upon execution of the clinical trial agreements and expensed as research and development expenses.

Research and Development Expenditures

Research and development expenses consist primarily of costs associated with the Company’s product candidates, upfront fees, milestones, compensation and other expenses for research and development personnel, supplies and development materials, costs for consultants and related contract research, facility costs and depreciation. Expenditures relating to research and development are expensed as incurred.

Patent Costs

Patent prosecution costs are charged to operations as incurred as recoverability of such expenditure is uncertain.

Leased Assets

The costs of operating leases are charged to operations on a straight-line basis over the lease term.

Income Taxes

The Company accounts for income taxes under the liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.

The Company applies the accounting guidance codified in ASC 740 “Income taxes” (“ASC 740”) related to accounting for uncertainty in income taxes. ASC 740 specifies the accounting the accounting for uncertainty in income taxes recognized in a company’s financial statements by prescribing a minimum probability threshold a tax position is required to meet before being recognized in the financial statements.

Credit is taken in the accounting period for research and development tax credits, which will be claimed from H. M. Revenue & Customs, the United Kingdom’s taxation and customs authority, in respect of qualifying research and development costs incurred in the same accounting period.

Net Loss Per Common Share

The Company calculates net loss per common share in accordance with ASC 260 “Earnings Per Share” (“ASC 260”). Basic and diluted net loss per common share was determined by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the period. The Company’s potentially dilutive shares, which include outstanding common stock options, restricted stock, restricted stock units, convertible preferred stock and common stock warrants, have not been included in the computation of diluted net loss per share for all periods as the result would be anti-dilutive.

	Year ended December 31, 2011		Year ended December 31, 2012		Year ended December 31, 2013
Stock options		502,249		463,023		949,685
Restricted Stock Units		38,089		39,377		119,248
Convertible preferred stock		73,747		73,747		20,381
Contingently issuable shares and common stock warrants associated with Economic Rights		—		440,375		—
Common stock warrants		1,973,431		1,973,427		1,591,795
Total shares excluded from calculation		2,587,516		2,989,949		2,618,109

Fair Value Measurements

Inputs used to determine fair value of financial and non-financial assets and liabilities are categorized using a fair value hierarchy that prioritizes observable and unobservable inputs into three broad levels, from Level 1, for quoted prices (unadjusted) in active markets for identical assets or liabilities, to Level 3, for unobservable inputs (see Note 5 — Fair Value). Management reviews the categorization of fair value inputs on a periodic basis and may determine that it is necessary to transfer an input from one level of the fair value hierarchy to another based on changes in events or circumstances, such as a change in the observability of an input. Any such transfer will be recognized at the end of the reporting period.

Stock-based Compensation

The Company grants stock options, restricted stock units and restricted stock to officers, employees and directors under the Amended and Restated Equity Incentive Plan (“2006 Plan”), which was approved on March 16, 2006, as amended on May 21, 2007, and subsequently amended and restated on April 14, 2008. Under the 2006 Plan, the Company has granted various types of awards, which are described more fully in Note 11 - Stock-Based Compensation Arrangements. The Company accounts for these awards under ASC 718 “Compensation — Stock Compensation” (“ASC 718”).

ASC 718 requires measurement of compensation cost for all stock-based awards at fair value on date of grant and recognition of compensation over the requisite service period for awards expected to vest. The fair value of restricted stock and restricted stock units is determined based on the number of shares granted and the quoted price of the Company’s common stock on the date of grant. The determination of grant-date fair value for stock option awards is estimated using the Black-Scholes model, which includes variables such as the expected volatility of the Company’s share price, the anticipated exercise behavior of employees, interest rates, and dividend yields. These variables are projected based on historical data, experience, and other factors. Changes in any of these variables could result in material adjustments to the expense recognized for share-based payments. Such value is recognized as expense over the requisite service period, net of estimated forfeitures, using the straight-line attribution method. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from current estimates, such amounts are recorded as a cumulative adjustment in the period estimates are revised. The Company considers many factors when estimating expected forfeitures, including type of awards granted, employee class, and historical experience. Actual results and future estimates may differ substantially from current estimates.

Comprehensive Income (Loss)

In accordance with ASC 220 “Comprehensive Income” (“ASC 220”), all components of comprehensive income (loss), including net income (loss), are reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Net income (loss) and other comprehensive income (loss), including foreign currency translation adjustments, are reported, net of any related tax effect, to arrive at comprehensive income (loss). No taxes were recorded on items of other comprehensive income.

Recent Accounting Pronouncements Not Yet Effective

In July 2013, the FASB issued guidance relating to the presentation of an unrecognized tax benefit when a net operating loss carryforward (“NOL”), a similar tax loss, or a tax credit carryforward exists. The guidance states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a NOL, a similar tax loss, or a tax credit carryforward, except to the extent it is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.

In March 2013, the FASB issued guidance relating to certain foreign currency matters. This guidance clarifies the parent company’s accounting for the cumulative translation adjustment when a reporting entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity or of an investment in a foreign entity. The guidance is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.

In February 2013, the FASB issued guidance relating to obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. This provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The guidance should be applied retrospectively to all prior periods presented for those obligations resulting from joint and several liability arrangements that exist at the beginning of an entity’s fiscal year of adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.

Significant Contracts

12 Months Ended

Dec. 31, 2013

Significant Contracts Disclosure [Abstarct]

Significant Contracts

Significant Contracts

Distribution, Licensing and Research Agreements

The Company has entered into licensing agreements with academic and research organizations. Under the terms of these agreements, the Company has received licenses to technology and patent applications. The Company is required to pay royalties on future sales of product employing the technology or falling under claims of patent applications.

Pursuant to the Daiichi Sankyo license under which the Company licenses certain patent rights for sapacitabine, its lead drug candidate, the Company is under an obligation to use reasonable endeavors to develop a product and obtain regulatory approval to sell a product and has agreed to pay Daiichi Sankyo an up-front fee, reimbursement for Daiichi Sankyo’s enumerated expenses, milestone payments and royalties on a country-by-country basis. The up-front fee and certain past reimbursements have been paid and, as a result of the SEAMLESS trial entering Phase 3 during the first quarter of 2011, a milestone payment of $1.6 million was paid in April 2011. A further $10.0 million in aggregate milestone payments could be payable subject to achievement of all the specific contractual milestones and the Company’s decision to continue with these projects. Royalties are payable in each country for the term of patent protection in the country or for ten years following the first commercial sale of licensed products in the country, whichever is later. Royalties are payable on net sales. Net sales are defined as the gross amount invoiced by the Company or its affiliates or licensees, less discounts, credits, taxes, shipping and bad debt losses. The agreement extends from its commencement date to the date on which no further amounts are owed under it. If the Company wishes to appoint a third party to develop or commercialize a sapacitabine-based product in Japan, within certain limitations, Daiichi Sankyo must be notified and given a right of first refusal to develop and/or commercialize in Japan. In general, the license may be terminated by the Company for technical, scientific, efficacy, safety, or commercial reasons on six months notice, or twelve months, if after a launch of a sapacitabine-based product, or by either party for material default. Effective July 11, 2011, the license agreement was amended to irrevocably waive a termination right Daiichi Sankyo possessed under a provision of the agreement that required the Company to obtain regulatory approval to sell sapacitabine in at least one country by September 2011, and releases the Company from all claims and liability of any kind arising under such provision. The amendment further provides that the royalty due from the Company to Daiichi Sankyo on future net sales of sapacitabine be increased by a percentage between 1.25% and 1.50% depending on the level of net sales of sapacitabine realized.

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2013

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and Cash Equivalents

The following is a summary of cash and cash equivalents at December 31, 2012 and 2013 (in $000s):

	December 31,
	2012		2013

Cash	$	4,090	$	4,670
Investments with original maturity of less than three months at the time of purchase		12,322		26,476
Total cash and cash equivalents	$	16,412	$	31,146

Investments with original maturity of less than three months at time of purchase are made up of money market funds and commercial paper.

- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

+ References + Details

Fair Value

12 Months Ended

Dec. 31, 2013

Fair Value

Fair Value

5.	Fair Value

Fair value measurements

As defined in ASC 820 “Fair Value Measurements and Disclosures” (“ASC 820”), fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considering counterparty credit risk in its measurement of fair value.

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

The following table reconciles the beginning and ending balances of Level 3 inputs for the year ended December 31, 2013 (in $000s):

	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

Financial Instrument Associated with Stock Purchase Agreement

The December 14, 2012 common stock purchase agreement with Aspire was terminated on November 14, 2013, and on that date the Company entered into a new common stock purchase agreement with Aspire) (the “Purchase Agreement”) under which Aspire purchased 511,509 shares of common stock for an aggregate purchase price of $2.0 million and committed to purchase up to an additional 3,042,038 shares from time to time as directed by the Company over the next two years at prices derived from the market prices on or near the date of each sale (see Note 10 – Stockholders’ Equity).

The Company has accounted for the right to sell additional shares under the purchase agreement based on the guidance of ASC 815 “Derivative Financial Instruments” (“ASC 815”), which requires the instrument to be measured at fair value with changes in fair value reported in earnings. The instrument had a fair value of $0.5 million at the date of the transaction and a fair value of $0.4 million as of December 31, 2013. The $0.1 million decrease in the fair value of the Purchase Agreement during the year ended December 31, 2013 was recognized as a loss in the consolidated statements of operations. The primary inputs used to determine fair value are the price of the Company’s common stock, the remaining term, and aggregate share purchases on the measurement date. The fair value of purchase agreement is remeasured each reporting period and gains or losses will continue to be reported until the agreement is exhausted or expired.

Economic Rights

On March 22, 2012, the Company entered into a financing agreement with certain existing institutional stockholders. Under the terms of the agreement, investors received contractual rights to receive cash equal to 10% of any future litigation settlement related to the specified intellectual property, subject to a cap. In certain defined situations, the Company may have to issue either additional common shares or warrants (collectively, the “Economic Rights”).

Up to December 31, 2012, the fair value of the Economic Rights was estimated using a decision-tree analysis method. This was an income-based method that incorporates the expected benefits, costs and probabilities of contingent outcomes under varying scenarios. Each scenario within the decision-tree was discounted to the present value using the Company’s credit adjusted risk-free rate and ascribed a weighted probability to determine the fair value.

On April 3, 2013, the Company entered into a definitive agreement with Celgene Corporation (“Celgene”) to sell to Celgene four Cyclacel-owned patents related to the use of romidepsin injection, intellectual property to which the Economic Rights relates. In connection with the agreement, Celgene has made to Cyclacel a one-time payment of $5.5 million and the litigation was dismissed. As a result, the holders of the Economic Rights were paid approximately $0.6 million in April 2013 in full satisfaction of the Company’s obligation under the Economic Rights. The fair value of this liability was approximately $1.1 million as of December 31, 2012. The $0.6 million decrease in the fair value of the Economic Rights during the year ended December 31, 2013 was recognized as a gain in the consolidated statements of operations.

Other Liabilities Measured at Fair Value

Warrants Liability

The Company issued warrants to purchase shares of common stock under the registered direct financing completed in February 2007. These warrants are being accounted for as a liability in accordance with ASC 815. At the date of the transaction, the fair value of the warrants of $6.8 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate — 4.68%, expected volatility — 85%, expected dividend yield — 0%, and a remaining contractual life of 7 years. As of December 31, 2013, the fair value of the warrants is zero based on the high exercise price of the warrants relative to the Company’s stock price at December 31, 2013 and the remaining term of less than 0.13 years. The fair value of the warrant is remeasured each reporting period, with any gains or losses recognized in the consolidated statement of operations. Such gains or losses will continue to be reported until the warrants are exercised or expired.

The Company recognized the change in the value of warrants as a gain on the consolidated statement of operations of $0.6 million and $0.1 million for the year ended December 31, 2011 and 2012, respectively. There was no change recognized in the value of warrants on the consolidated statement of operations for the year ended December 31, 2013.

Scottish Enterprise Agreement

On June 22, 2009, the Company amended the Agreement with Scottish Enterprise (“SE”) (the “Amendment”), in order to allow the Company to implement a reduction of the Company’s research operations located in Scotland in exchange for the parties’ agreement to modify the payment terms of the Agreement in the principal amount of £5 million (approximately $8.0 million at December 31, 2009), which SE had previously entered into with the Company. The Agreement provided for repayment of up to £5 million in the event the Company significantly reduced its Scottish research operations. Pursuant to the terms of the Amendment, in association with Cyclacel’s material reduction in staff at its Scottish research facility, the parties agreed to a modified payment of £1 million (approximately $1.7 million at June 22, 2009) payable in two equal tranches. On July 1, 2009, the first installment of £0.5 million (approximately $0.8 million) was paid and the remaining amount of £0.5 million (approximately $0.8 million) was paid on January 6, 2010.

In addition, should a further reduction below current minimum staff levels be effectuated before July 2014 without SE’s prior consent, the Company may be obligated to pay up to £4 million to SE, which will be calculated as a maximum of £4 million (approximately $6.5 million at December 31, 2012 and $6.6 million at December 31, 2013) less the market value of the shares held by SE at the time staffing levels in Scotland fall below the prescribed minimum levels. If the Company were to have reduced staffing levels below the prescribed levels, the amount potentially payable to SE would have been approximately £3.8 million (approximately $6.1 million) and approximately £3.8 million (approximately $6.3 million) at December 31, 2012 and December 31, 2013, respectively.

This arrangement is accounted for as a liability under ASC Topic 480 “Distinguishing Liabilities from Equity” (“ASC 480”), and is measured at fair value. Changes in fair value are recognized in earnings. Due to the nature of the associated contingency and the likelihood of occurrence, the Company has concluded the fair value of this liability was approximately $20,000 at December 31, 2012 and December 31, 2013, respectively. The most significant inputs in estimating the fair value of this liability are the probabilities that staffing levels fall below the prescribed minimum and that the Company is unable or unwilling to replace such employees within the prescribed time period. At both December 31, 2012 and 2013, the Company used a scenario analysis model to arrive at the fair value of the Scottish Enterprise Agreement and assumed a 30% probability of falling below a minimum staffing level and a 1% probability that the occurrence of such an event would not be cured within the prescribed time period. At each reporting period, the inputs used to determine the fair value of the liability will be evaluated to determine whether adjustments are appropriate. Any changes in the value of this liability are recorded in the consolidated statement of operations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2013

Prepaid Expenses and Other Current Assets [Abstarct]

Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets

The following is a summary of prepaid expenses and other current assets at December 31, 2012 and 2013 (in $000s):

	December 31,
	2012		2013

Research and development tax credit receivable	$	1,033	$	1,744
Prepayments		358		427
Grant receivable		—		357
Sales tax receivable		45		209
Deposits		153		132

Other current assets		10		519
	$	1,599	$	3,388

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment

Property, Plant and Equipment

Property, Plant, and Equipment

Property, plant and equipment consisted of the following (in $000s):

	Useful lives in years from	December 31,
	date of acquisition	2012			2013

Leasehold improvements	5 to 15 years	$	867		$	922
Research and laboratory equipment	3 to 5 years		5,519			5,668
Office equipment and furniture	3 to 5 years		1,325			1,338
			7,711			7,928
Less: accumulated depreciation and amortization			(7,582	)		(7,653	)
		$	129		$	275

The depreciation and amortization of property, plant and equipment amounted to $0.2 million, $0.1 million and $0.1 million for the year ended December 31, 2011, 2012 and 2013, respectively.

Depreciation and amortization expense for the period from inception or August 13, 1996 through December 31, 2013 was $12.7 million. At December 31, 2012 and 2013 there were no assets held under capital lease arrangements.

Accrued and Other Current Liabilities

12 Months Ended

Dec. 31, 2013

Accrued and Other Current Liabilities

Accrued and Other Current Liabilities

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following (in $000s):

	December 31,
	2012		2013

Accrued research and development	$	3,623	$	3,565
Accrued legal and professional fees		1,118		265
Other current liabilities		860		842
	$	5,601	$	4,672

Commitments and Contingencies

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies

Commitments and Contingencies

Commitments and Contingencies

General

Please refer to Note 3 — Significant Contracts for further discussion of certain of the Company’s commitments and contingencies.

Leases

The following is a summary of the Company’s contractual obligations and commitments relating to its facilities leases as at December 31, 2013 (in $000s):

	Operating Lease Obligations

2014	$	499
2015		585
2016		585
2017		456
2018		431
Thereafter		2,867
Total	$	5,423

Rent expense, which includes lease payments related to the Company’s research and development facilities and corporate headquarters and other rent related expenses was $0.6 million for each of the years ended December 31, 2011 and 2012. For the year ended December 31, 2013, rent expense was $0.8 million.

In October 2000, the Company entered into a twenty-five year lease for its research and development facility in Dundee, Scotland. In November 2013, the Company entered into a one year commitment to sublease the aforementioned research and development facility in Dundee, Scotland and recognized approximately $23,000 in sublease income for the year ended December 31, 2013. In May 2011, the Company extended its lease for office space at its headquarters in Berkeley Heights, New Jersey, for an additional five years.

Please refer to Note 5 — Fair Value for further discussion of certain of the Company’s commitments and contingencies.

Preferred Dividends

The Company’s Board of Directors considers numerous factors in determining whether to declare the quarterly dividend pursuant to the certificate of designation governing the terms of the Company’s outstanding 6% Convertible Exchangeable Preferred Stock, including the requisite financial analysis and determination of a surplus. Accrued and unpaid dividends in arrears on preferred stock were $2.3 million, or $1.90 per share of preferred stock, as of December 31, 2012 and $0.6 million, or $1.90 per share, of preferred stock, as of December 31, 2013.

Legal Proceedings

On April 27, 2010, the Company was served with a complaint filed by Celgene Corporation in the United States District Court for the District of Delaware seeking a declaratory judgment that four of the Company’s own patents, claiming certain uses of romidepsin were invalid and not infringed by Celgene’s sale of ISTODAX® (romidepsin for injection). The Company subsequently counterclaimed for infringement of these four patents. On April 3, 2013, the Company entered into a definitive agreement with Celgene to sell to Celgene the four Cyclacel-owned patents related to uses of romidepsin and their foreign counterparts. In connection with the definitive agreement, in April 2013, Celgene made a one-time payment of $5.5 million to Cyclacel. As a result, the litigation between Cyclacel and Celgene in the United States District Court for the District of Delaware, case number 1:10-cv-00348-GMS, was dismissed by virtue of a jointly filed stipulation requesting the Court to enter an Order dismissing the litigation and the entry of such an Order. The $5.5 million gain from the sale of patents has been recorded in other income (expense), net, in the consolidated statement of operations.

Stockholders' Equity

12 Months Ended

Dec. 31, 2013

Stockholders' Equity

Stockholders' Equity

10. Stockholders’ Equity

Preferred Stock

As of December 31, 2013, there were 335,273 shares of Preferred Stock issued and outstanding at an issue price of $10.00 per share. Dividends on the Preferred Stock are cumulative from the date of original issuance at the annual rate of 6% of the liquidation preference of the Preferred Stock, payable quarterly on the first day of February, May, August and November, commencing February 1, 2005. Any dividends must be declared by the Company’s Board of Directors and must come from funds that are legally available for dividend payments. The Preferred Stock has a liquidation preference of $10 per share, plus accrued and unpaid dividends.

The Preferred Stock is convertible at the option of the holder at any time into the Company’s shares of common stock at a conversion rate of approximately 0.06079 shares of common stock for each share of Preferred Stock based on a price of $164.50. The Company has reserved 20,381 shares of common stock for issuance upon conversion of the remaining shares of Preferred Stock outstanding at December 31, 2013. The shares of previously-converted Preferred Stock have been retired, cancelled and restored to the status of authorized but unissued shares of preferred stock, subject to reissuance by the Board of Directors as shares of Preferred Stock of one or more series.

The Company may automatically convert the Preferred Stock into common stock if the closing price of the Company’s common stock has exceeded $246.75, which is 150% of the conversion price of the Preferred Stock, for at least 20 trading days during any 30-day trading period, ending within five trading days prior to notice of automatic conversion.

The Certificate of Designations governing the Preferred Stock provides that if the Company fails to pay dividends on its Preferred Stock for six quarterly periods, holders of Preferred Stock are entitled to nominate and elect two directors to the Company’s Board of Directors. This right accrued to the holders of Preferred Stock as of August 2, 2010 and two directors were nominated and elected at the annual meeting held on May 24, 2011.

The Preferred Stock has no maturity date and no voting rights prior to conversion into common stock, except under limited circumstances.

The Company may, at its option, redeem the Preferred Stock in whole or in part, out of funds legally available at the redemption prices per share stated below, plus an amount equal to accrued and unpaid dividends up to the date of redemption:

Year from November 1, 2012 to October 31, 2013	$	10.12
Year from November 1, 2013 to October 31, 2014	$	10.06
November 1, 2014 and thereafter	$	10.00

The Preferred Stock is exchangeable, in whole but not in part, at the option of the Company on any dividend payment date beginning on November 1, 2005 (the “Exchange Date”) for the Company’s 6% Convertible Subordinated Debentures (“Debentures”) at the rate of $10 principal amount of Debentures for each share of Preferred Stock. The Debentures, if issued, will mature 25 years after the Exchange Date and have terms substantially similar to those of the Preferred Stock. No such exchanges have taken place to date.

Conversion of Convertible Preferred Stock

During 2013, Cyclacel entered into agreements to exchange the Company’s Preferred Stock into shares of common stock. There were no exchanges of the Company’s Preferred Stock into shares of common stock during the year ended December 31, 2011 or 2012. The table below provides details of the aggregate activities in 2013:

	Year ended December 31, 2013
Preferred shares exchanged		877,869
Common shares issued:
At stated convertible option		53,366
Incremental shares issued under the exchange transaction		1,631,105
Total common shares issued		1,684,471

As the Preferred Stock stockholders received additional shares of common stock issued to them upon conversion as compared to what they would have been entitled to receive under the stated rate of exchange, the Company recorded the excess of (1) the fair value of all securities and other consideration transferred to the holders of the Preferred Stock and (2) the fair value of securities issuable pursuant to the original conversion terms as an increase in the net loss attributable to common shareholders. Specifically, the Company recorded deemed dividends related to the additional shares issued under the exchange transactions of $9.0 million for the year ended December 31, 2013.

Common Stock

November 2013 Stock Purchase Agreement

The December 14, 2012 common stock purchase agreement with Aspire was terminated on November 14, 2013, and on that day, the Company entered into a new common stock purchase agreement with Aspire. Upon execution of the Purchase Agreement, Aspire purchased 511,509 shares of common stock for an aggregate purchase price of $2.0 million. Under the terms of the Purchase Agreement, Aspire has committed to purchase up to an additional 3,042,038 shares from time to time as directed by the Company or, in certain instances, as agreed to by both parties, over the next two years at prices derived from the market prices on or near the date of each sale. However, such commitment is limited to an additional $18.0 million of share purchases. In consideration for entering into the Purchase Agreement, concurrent with the execution of the Purchase Agreement, the Company issued 166,105 shares of the Company’s common stock to Aspire in lieu of a commitment fee. The value of these shares has been recorded as a component of other assets and is being amortized over the term of the Purchase Agreement on a straight-line basis, except to the extent that shares are purchased on an accelerated basis, in which case the Company will accelerate the amortization of the deferred charge.

May 2013 Underwriting Agreement

On May 16, 2013, the Company entered into an underwriting agreement relating to the public offering and sale of up to 6,666,667 shares of the Company’s common stock, par value $0.001, at a price to the public of $3.00 per share. On May 21, 2013, the Company closed the public offering and completed the sale of 6,833,334 shares of its common stock, which includes 166,667 shares that were subject to the underwriters’ over-allotment option, at a price to the public of $3.00 per share, for proceeds, net of certain fees and expenses, of approximately $19.0 million.

December 2012 Stock Purchase Agreement

On December 14, 2012, the Company entered into a common stock purchase agreement with Aspire. Upon execution of the Purchase Agreement, Aspire purchased 158,982 shares of common stock for an aggregate purchase price of $1.0 million based on the closing price of the Company’s common stock on December 13, 2012, the date upon which the business terms were agreed. Under the terms of the purchase agreement, Aspire committed to purchase up to an additional 1,455,787 shares from time to time as directed by the Company over the next two years at prices derived from the market prices on or near the date of each sale. However, such commitment was limited to an additional $19.0 million of share purchases. In consideration for entering into the purchase agreement, concurrent with the execution of the purchase agreement, the Company issued 74,548 shares of its common stock to Aspire for no consideration. The fair value of the 74,548 shares of common stock along with the direct costs incurred in the connection with the Aspire transaction have been allocated to the shares sold at inception of this agreement and the right to sell additional shares in the future based on the ratio of shares sold at inception to the listed shares subject to this agreement. As a result, the Company recorded an expense of $0.4 million on its consolidated statements of operations for the year ended December 31, 2012. The agreement terminated on November 14, 2013 and no rights or obligations remain under the agreement.

March 2012 Sale of Common Stock and Economic Rights

On March 22, 2012, the Company entered into a purchase agreement with certain existing institutional stockholders, raising approximately $2.9 million of proceeds, net of certain fees and expenses. The proceeds from the financing will be used to fund ongoing litigation-related expenses on certain intellectual property and for general corporate purposes.

Under the terms of the purchase agreement, the investors purchased 669,726 shares of the Company’s common stock at a price of $4.53, which is equal to the 10-day average closing price of the Company’s common stock for the period ending on March 21, 2012. The shares issued at closing were subject to a lock-up period of one year from the date of issuance. See Note 5 - Fair Value for further details.

In addition to the common stock, investors received contractual rights to receive cash equal to 10% of any future litigation settlement related to the specified intellectual property, subject to a cap. In April 2013, the Economic Rights were settled for payment of $0.6 million.

July 2011 Underwritten Offering

On July 7, 2011, the Company closed an underwritten offering for an aggregate of 1,088,235 units, at an offering price of $9.52 per unit, for gross proceeds of approximately $10.4 million. Each unit consists of (i) one share of common stock and (ii) a five-year warrant to purchase 0.5 of a share of common stock at an exercise price of $9.52 per share, exercisable beginning six months after the date of issuance. The shares of common stock and warrants were immediately separable. As of December 31, 2013, all warrants issued to the investors in connection with this financing were outstanding and have been classified as equity. The transaction date fair value of the warrants of approximately $3.5 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate — 1.74%, expected volatility - 99%, expected dividend yield - 0%, and a remaining contractual life of 5.00 years. Net proceeds of approximately $9.3 million, after underwriting discounts and commissions and other fees and expenses of approximately $1.1 million, were allocated based on relative transaction date fair values in the following manner: $6.8 million ($6.23 per share) and $2.5 million ($4.62 per warrant) to common shares and warrants, respectively.

October 2010 Private Placement

On October 7, 2010, the Company completed a private placement pursuant to which it sold approximately $15.2 million of its units to several institutional investors, for net proceeds of approximately $14.0 million. The units consist of one share of common stock and 0.5 of a warrant, with each whole warrant representing the right to purchase one share of common stock at an exercise price of $13.44 per share for a period of five years. As of December 31, 2013, all options and warrants issued to the investors are outstanding and have been classified as equity. The investors purchased a total of 1,189,027 units at a price of $12.78 per unit. The investors also had the right to acquire up to 594,513 additional units at a price of $11.69 per unit (for $6.9 million in gross proceeds) at any time up to nine months after closing or by July 6, 2011. As of July 6, 2011, the right to acquire the additional units lapsed. The transaction date fair value of the warrants and additional optional units was $5.1 million and $2.8 million, respectively. Net proceeds of approximately $14.0 million were allocated based on relative transaction date fair values in the following manner: $8.9 million ($7.49 per share), $3.3 million ($5.53 per warrant) and $1.8 million ($3.01 per optional unit) to common shares, warrants and the additional optional units, respectively.

January 2010 Registered Direct Financings

On January 25, 2010, the Company completed the sale of 335,714 units in a “registered direct” offering at a purchase price of $17.50 per unit to certain institutional investors of the Company for gross proceeds of approximately $5.9 million. Each unit consisted of one share of the Company’s common stock and one warrant to purchase 0.30 of one share of its common stock. The warrants have a five-year term from the date of issuance and are exercisable beginning six months from the date of issuance at an exercise price of $19.95 per share of common stock. As of December 31, 2013, warrants issued to the investors have been classified as equity. The transaction date fair value of the warrants of $1.0 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate - 2.39%, expected volatility - 90%, expected dividend yield - 0%, and a remaining contractual life of 5.00 years. As of December 31, 2013, all the warrants are outstanding. Net proceeds of approximately $5.4 million were allocated based on relative transaction date fair values in the following manner: $4.5 million ($13.51 per share) to common shares and $0.9 million ($9.03 per warrant) to the warrants.

On January 13, 2010, the Company completed the sale of 407,143 units in a “registered direct” offering to certain institutional investors. Each unit was sold at a purchase price of $17.57 per unit and consists of one share of the Company’s common stock and one warrant to purchase 0.25 of one share of its common stock for gross proceeds of approximately $7.2 million. The warrants have a five-year term from the date of issuance and are exercisable beginning six months from the date of issuance at an exercise price of $22.82 per share of common stock. As of December 31, 2013, warrants issued to the investors have been classified as equity. The transaction date fair value of the warrants of $1.3 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate - 2.55%, expected volatility - 90%, expected dividend yield - 0%, and a remaining contractual life of 5.00 years. As of December 31, 2013, all the warrants are outstanding. Net proceeds of approximately $6.5 million were allocated based on relative transaction date fair values in the following manner: $5.6 million ($13.65 per share) to common shares and $0.9 million ($9.24 per warrant) to the warrants.

July 2009 Registered Direct Financing

On July 29, 2009, the Company sold its securities to select institutional investors consisting of 571,429 units in a “registered direct” offering at a purchase price of $5.95 per unit. Each unit consisted of (i) one share of the Company’s common stock, (ii) one warrant to purchase 0.625 of one share of common stock (a “Series I Warrant”) and (iii) one warrant to purchase 0.1838805 of one share of common stock (a “Series II Warrant”). The Series I Warrants had a seven-month term from the date of issuance and were exercisable beginning six months from the date of issuance at an exercise price of $7.00 per share of common stock. During the first quarter of 2010, all of the Series I Warrants were exercised for $2.5 million. The Series II Warrants have a five-year term from the date of issuance and are exercisable beginning six months from the date of issuance at an exercise price of $7.00 per share of common stock. During the first quarter of 2010, 6,181 common shares were issued upon exercise of Series II Warrants with proceeds of $43,266. There were no exercises during the years ended December 31, 2012 or 2013.

The net proceeds to the Company from the sale of the units, after deducting for the placement agent’s fees and offering expenses, were approximately $2.9 million. As of December 31, 2013, the remaining Series II Warrants are outstanding and exercisable into 98,893 of the Company’s shares of common stock have been classified as equity. The transaction date fair value of the Series II Warrants of $0.6 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate - 2.69%, expected volatility - 90%, expected dividend yield - 0%, and a remaining contractual life of 5.00 years.

December 2007 Committed Equity Financing Facility or CEFF

On December 10, 2007 and as amended on November 24, 2009, Cyclacel entered into a Committed Equity Financing Facility, or CEFF, with Kingsbridge, in which Kingsbridge committed to purchase the lesser of 583,513 shares of common stock or $60 million of common stock from Cyclacel over a three-year period. The CEFF lapsed on December 10, 2010.

During the year ended December 31, 2010, the Company sold 402,704 shares of its common stock to Kingsbridge under the CEFF, in consideration of aggregate proceeds of $4.9 million.

Common Stock Warrants Classified as Liabilities

In connection with the Company’s February 16, 2007 “registered direct” offering, the Company issued to investors warrants to purchase 151,773 shares of common stock. The warrants issued to the investors are being accounted for as a liability. At the date of the transaction, the fair value of the warrants of $6.8 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate - 4.58%, expected volatility - 85%, expected dividend yield - 0%, and a remaining contractual life of 6.88 years. The value of the warrant is being remeasured each reporting period as a derivative gain or loss on the consolidated statement of operations until exercised or expiration. The Company determined that the warrants had no value at December 31, 2012 and 2013 because of the market price of the Company’s common stock compared to the exercise price of the warrants and the expiration of the warrants in February 2014. The Company recognized the change in the value of warrants of $0.6 million and $0.1 million as gains on the consolidated statements of operations for the years ended December 31, 2011 and 2012, respectively. There was no change in the value of warrants for the year ended December 31, 2013.

Summary of Outstanding Warrants

The following table summarizes information about warrants outstanding at December 31, 2013:

Issued in Connection With	Expiration Date	Common Shares Issuable		Weighted Average Exercise Price
February 2007 stock issuance	2014		151,773	$	59.08
July 2009 Series II stock issuance	2014		98,893	$	7.00
January 2010 stock issuance	2015		101,785	$	22.82
January 2010 stock issuance	2015		100,714	$	19.95
October 2010 stock issuance	2015		594,513	$	13.44
July 2011 stock issuance	2016		544,117	$	9.52
Total			1,591,795	$	17.06

Exercise of Stock Options

During the year ended December 31, 2012, 33,351 shares of common stock were issued from the exercise of stock options resulting in proceeds of approximately $0.1 million. During the year ended December 31, 2013, there were no stock options exercised.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Stock-Based Compensation Arrangements

12 Months Ended

Dec. 31, 2013

Stock-Based Compensation Arrangements

Stock-Based Compensation Arrangements

11.

Stock-Based Compensation Arrangements

ASC 718 requires compensation expense associated with share-based awards to be recognized over the requisite service period, which for the Company is the period between the grant date and the date the award vests or becomes exercisable. Most of the awards granted by the Company (and still outstanding), vest ratably over three to four years. Certain awards made to executive officers vest over three to five years, depending on the terms of their employment with the Company.

The Company recognizes all share-based awards under the straight-line attribution method. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company evaluates its forfeiture assumptions quarterly and the expected forfeiture rate is adjusted when necessary. Ultimately, the actual expense recognized over the vesting period is based on only those shares that vest.

Stock based compensation has been reported within expense line items on the consolidated statement of operations for 2011, 2012 and 2013 as shown in the following table (in $000s):

	Year ended December 31, 2011		Year ended December 31, 2012		Year ended December 31, 2013

Research and development	$	171	$	71	$	75
General and administrative		669		266		282
Net (loss) income from discontinued operations		42		43		—
Stock-based compensation costs before income taxes	$	882	$	380	$	357

2006 Plans

On March 16, 2006, Xcyte stockholders approved the adoption of the 2006 Plans, under which Cyclacel, may make equity incentive grants to its officers, employees, directors and consultants. At the Company’s annual shareholder meeting on May 23, 2012, the stockholders approved and amended the number of shares reserved under the 2006 Plan to 10,000,000 shares of the Company’s common stock, up from 5,200,000 shares. Stock option awards granted under the 2006 Plan have a maximum life of 10 years and generally vest over a four-year period from the date of grant.

The Company granted approximately 494,663 options to employees and directors with a grant date fair value of approximately $1.6 million, of which approximately $0.4 million has been recorded as compensation cost in the consolidated statement of operations for the year ended December 31, 2013. During 2012, the Company granted approximately 33,571 options to employees and directors with a grant date fair value of approximately $0.1 million, of which approximately $12,000 has been recorded as compensation cost for the year ended December 31, 2012. During 2011, the Company granted approximately 28,500 options to employees and directors with a grant date fair value of approximately $0.2 million, of which approximately $24,000 was expensed during the year ended December 31, 2011. The weighted average grant-date fair values of options granted during the year ended December 31, 2011, 2012, and 2013 were $8.05, $2.52, and $3.25, respectively.

As of December 31, 2013, the total remaining unrecognized compensation cost related to the non-vested stock options amounted to approximately $1.5 million, which will be amortized over the weighted-average remaining requisite service period of 2.83 years.

During the years ended December 31, 2011, 2012 and 2013, the Company did not settle any equity instruments with cash.

There were no stock option exercises during 2013. The Company received $0.1 million from the exercise of 33,351 options during 2012. The total intrinsic value of options exercised during 2012 was approximately $0.1 million. The Company received $3,000 from the exercise of 948 stock options during 2011. The total intrinsic value of options exercised during 2011 was approximately $7,000. No income tax benefits were recorded for the years ended December 2011, 2012 and 2013 because ASC 718 prohibits recognition of tax benefits for exercised stock options until such benefits are realized. The Company was not able to benefit from the deduction for exercised stock options for the years ended December 31, 2011, 2012 and 2013 because the Company incurred tax losses in each of those years.

Outstanding Options

A summary of the share option activity and related information is as follows:

	Number of Options Outstanding			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value ($000s)
Options outstanding at December 31, 2011		502,249		$	26.11		6.44	$	140
Granted		33,571		$	3.29
Exercised		(33,351	)	$	3.09
Cancelled/forfeited		(39,446	)	$	20.21
Options outstanding at December 31, 2012		463,023		$	26.61		5.58	$	347
Granted		494,663		$	4.22
Exercised		—
Cancelled/forfeited		(8,001	)	$	18.55
Options outstanding at December 31, 2013		949,685		$	15.02		7.38	$	152
Unvested at December 31, 2013		528,754		$	4.49		9.76	$	50
Vested and exercisable at December 31, 2013		420,931		$	28.25		4.40	$	101

The fair value of the stock options granted is calculated using the Black-Scholes option-pricing model as prescribed by ASC 718 using the following assumptions:

	Year ended December 31, 2011	Year ended December 31, 2012	Year ended December 31, 2013
Expected term (years)	5 — 6	6	5 —6
Risk free interest rate	1.47 — 2.29%	0.95%	0.84% - 1.865%
Volatility	93 — 99%	98%	97—108%
Expected dividend yield over expected term	0.00%	0.00%	0.00%
Resulting weighted average grant date fair value	$8.05	$2.52	$3.25

The expected term assumption was estimated using past history of early exercise behavior and expectations about future behaviors. Starting with the December 2010 annual grants to the Company’s employees, the Company relied exclusively on its historical volatility as an input to the option pricing model as management believes that this rate will be representative of future volatility over the expected term of the options.

Estimates of pre-vesting option forfeitures are based on the Company’s experience. Currently the Company uses a forfeiture rate of 0 — 30% depending on when and to whom the options are granted. The Company adjusts its estimate of forfeitures over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative adjustment in the period of change and may impact the amount of compensation expense to be recognized in future periods.

The Company considers many factors when estimating expected forfeitures, including types of awards, employee class, and historical experience. During the years ended December 31, 2011, 2012 and 2013, the Company recognized an expense of $0.2 million, income of approximately $0.1 million, and expense of approximately $40,000, respectively, as a result of revised forfeiture rates.

The weighted average risk-free interest rate represents interest rate for treasury constant maturities published by the Federal Reserve Board. If the term of available treasury constant maturity instruments is not equal to the expected term of an employee option, Cyclacel uses the weighted average of the two Federal Reserve securities closest to the expected term of the employee option.

Restricted Stock Units

The Company issued 34,000 and 12,281 restricted stock units, each of which entitles the holders to receive a share of the Company’s common stock, to senior executives of the Company in December 2011, and to employees in January 2012 and February 2012. The 2011 and 2012 grants vest over three years. The Company issued 85,097 restricted stock units to employees during the year end December 31, 2013. The 2013 restricted stock units will vest upon the fulfillment of certain clinical and financial conditions and will terminate if they have not vested by December 31, 2014. The Company determined that the satisfaction of the vesting criteria was not probable at December 31, 2013 and, as a result, did not record any expense related to these awards for the year ended December 31, 2013. A restricted stock unit grant is accounted for at fair value at the date of grant which is equivalent to the market price of a share of the Company’s common stock, and an expense is recognized over the vesting term. As of December 31, 2013, the total remaining unrecognized compensation cost related to the non-vested restricted stock amounted to $0.1 million, which will be amortized over the weighted-average remaining requisite service period of 1.06 years. Summarized information for restricted stock units activity for the years ended December 31, 2012 and 2013 is as follows:

	Restricted Stock Units			Weighted Average Grant Date Value Per Share
Non-vested at December 31, 2011		36,463		$	5.60
Granted		12,281		$	3.85
Forfeited		(6,904	)	$	4.99
Vested		(2,463	)	$	3.08
Non-vested at December 31, 2012		39,377		$	5.34
Granted		85,097		$	5.71
Forfeited		(5,226	)	$	5.00
Non-vested at December 31, 2013		119,248		$	5.62

Employee Benefit Plans

12 Months Ended

Dec. 31, 2013

Employee Benefit Plans

Employee Benefit Plans

12.

Employee Benefit Plans

Pension Plan

The Company operates a defined contribution group personal pension plan for all of its UK based employees. Company contributions to the plan totaled approximately $0.1 million for each of the years ended December 31, 2011, 2012 and 2013.

401(k) Plan

The 401(k) Plan provides for matching contributions by the Company in an amount equal to the lesser of 100% of the employee’s deferral or 6% of the U.S. employee’s qualifying compensation. The 401(k) Plan is intended to qualify under Section 401(k) of the Internal Revenue Code, so that contributions to the 401(k) Plan by employees or by the Company, and the investment earnings thereon, are not taxable to the employees until withdrawn. Company matching contributions are tax deductible by the Company when made. Company employees may elect to reduce their current compensation by up to the statutorily prescribed annual limit of $17,000 if under 50 years old and $22,500 if over 50 years old in 2012 and to have those funds contributed to the 401(k) Plan. For each of the years ended December 31, 2011, 2012 and 2013, the Company made contributions of approximately $0.1 million to the 401(k) Plan.

Discontinued Operations

12 Months Ended

Dec. 31, 2013

Discontinued Operations

Discontinued Operations

13.

Discontinued Operations

On August 10, 2012, the Company entered into an agreement with Sinclair to terminate, effective September 30, 2012, the distribution agreements relating to the promotion and sale of Xclair®, Numoisyn® Lozenges and Numoisyn® Liquid.

Product revenue, cost of goods sold, and selling, general and administrative costs related to the promotion and sale of the Xclair®, Numoisyn® Liquid and Numoisyn® Lozenges have been reclassified from operating results from continuing operations to (loss) income from discontinued operations in the consolidated statement of operations for all periods presented as follows (in $000s):

	Year ended December 31, 2011			Year ended December 31, 2012			Year ended December 31, 2013			Period from August 13, 1996 (inception) to December 31, 2013

Product revenue	$	699		$	583		$	—		$	3,604
Cost of goods sold		(360	)		(293	)		—			(2,045	)
Selling, general and administrative		(979	)		(607	)		—			(9,295	)
Goodwill and intangible impairment		—			—			—			(5,187	)
Interest income		—			32			91			123
Interest expense		—			—			—			(110	)
Gain on termination of license agreement		—			1,192			—			1,192
(Loss) income from discontinued operations		(640	)		907			91			(11,718	)
Income tax expense		—			(337	)		(34	)		(371	)
(Loss) income from discontinued operations, net of tax	$	(640	)	$	570		$	57		$	(12,089	)

The approximately $0.9 million present value of the estimated $1.0 million of minimum royalty payments the Company will receive over three years ending September 30, 2015 arising from the termination and settlement agreement and the recognition of approximately $0.3 million associated with a $0.3 million product returns provision liability for which an offsetting asset has been recorded based on our rights under the termination and settlement agreement resulted in a $1.2 million gain on termination of the distribution agreements for the year ended December 31, 2012.

The assets and liabilities associated with product promotion and sale have been classified within assets and liabilities of discontinued operations in the accompanying consolidated balance sheets (in $000s):

	December 31, 2012		December 31, 2013

Current assets of discontinued operations:
Short term portion of minimum royalty arrangement receivable, net	$	536	$	379
Returns indemnification receivable		325		260
Total current assets of discontinued operations		861		639
Long-term assets of discontinued operations:
Long-term portion of minimum royalty arrangement receivable, net		353		72
Total assets of discontinued operations	$	1,214	$	711

Current liabilities of discontinued operations:
Accounts payable	$	10	$	—
Returns provision		325		260
Total current liabilities of discontinued operations	$	335	$	260

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

+ Details

Taxes

12 Months Ended

Dec. 31, 2013

Taxes

Taxes

14.

Taxes

Loss from continuing operations before taxes is comprised of the following components for the years ended December 31, 2011, 2012 and 2013 (in $000s):

	Year ended December 31, 2011			Year ended December 31, 2012			Year ended December 31, 2013

Domestic	$	904		$	(2,009	)	$	1,132
Foreign		(16,072	)		(13,098	)		(13,012	)
Loss from continuing operations before taxes	$	(15,168	)	$	(15,107	)	$	(11,880	)

The benefit for income taxes from continuing operations consists of the following (in $000s):

	Year ended December 31, 2011		Year ended December 31, 2012		Year ended December 31, 2013

Current — domestic	$	—	$	—	$	(25)
Current — foreign		565		1,014		1,695
Current — total		565		1,014		1,670
Deferred — domestic		—		337		—
Income tax benefit	$	565	$	1,351	$	1,670

The Company has incurred a taxable loss in each of the operating periods since incorporation. The income tax credits of $0.6 million, $1.4 million and $1.7 million for the years ended December 31, 2011, 2012 and 2013, respectively, represent UK research and development (“R&D”) tax credits receivable against such expenditures in the United Kingdom that are refundable.

A reconciliation of the (benefit) provision for income taxes from continuing operations with the amount computed by applying the statutory federal tax rate to loss from continuing operations before income taxes is as follows (in $000s):

	Year ended December 31, 2011			Year ended December 31, 2012			Year ended December 31, 2013

Loss from continuing operations before taxes	$	(15,168	)	$	(15,107	)	$	(11,880	)

Income tax expense computed at statutory federal tax rate		(5,157	)		(5,136	)		(4,039	)
Disallowed expenses and non-taxable income		(141	)		176			62
Loss surrendered to generate R&D credit		1,372			3,025			4,833
Additional research and development tax relief		(2,260	)		(2,656	)		(4,418	)
Change in valuation allowance		2,952			(579	)		6,302
Research and development tax credit rate difference		—			—			—
Research and development true up		—			—			(4,530	)
Foreign items, including change in tax rates, and other		2,669			3,819			120
	$	(565	)	$	(1,351	)	$	(1,670	)

Significant components of the Company’s deferred tax assets are shown below (in $000s):

	December 31,
	2012			2013

Net operating loss carryforwards	$	42,399		$	46,144
Depreciation, amortization and impairment of property and equipment		1,654			67
Stock options		1,451			1,651
Accrued expenses		3,389			3,373
Research and development credits		—			4,530
Other		45			82
Translation adjustment		1,277			660
Deferred tax assets		50,215			56,507
Valuation allowance for deferred tax assets		(50,215	)		(56,507	)
Net deferred taxes	$	—		$	—

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting and tax purposes. A valuation allowance has been established, as realization of such assets is uncertain.

The Company’s management evaluated the positive and negative evidence bearing upon the realizability of its deferred assets, and has determined that, at present, the Company may not be able to recognize the benefits of the deferred tax assets under the more likely than not criteria. Accordingly, a valuation allowance of approximately $56.5 million has been established at December 31, 2013. The valuation allowance increased by approximately $6.3 million in 2013.

In certain circumstances, as specified in the Tax Reform Act of 1986, due to ownership changes, the Company’s ability to utilize its NOL carryforwards may be limited. The benefit of deductions from the exercise of stock options is included in the net operating loss (“NOL”) carryforwards. The benefit from these deductions will be recorded as a credit to additional paid-in capital if and when realized through a reduction of cash taxes. As of December 31, 2012 and 2013, the Company had federal NOLs of $19.2 million and $22.1 million and foreign NOLs of $153.4 million and $162.4 million, respectively. The Company has federal NOLs that will start to expire in 2027, and state NOLs totaling $21.3 million will start expiring in 2023. The Company’s foreign NOL’s do not expire under UK tax law.

Utilization of the NOLs may be subject to a substantial annual limitation under Section 382 of the Internal Revenue Code of 1986 due to ownership change limitations that have occurred previously or that could occur in the future. These ownership changes may limit the amount of NOL and R&D credit carryforwards that can be utilized annually to offset future taxable income and tax, respectively. The Company completed a Section 382 study as of December 31, 2013 noting there was no ownership change since the Company’s formation. Management has evaluated all significant tax positions at December 31, 2012 and 2013 and concluded that there are no material uncertain tax positions. The Company would recognize both interest and penalties related to unrecognized benefits in income tax expense. The Company has not recorded any interest and penalties on any unrecognized tax benefits since its inception.

Tax years 2011, 2012 and 2013 remain open to examination by major taxing jurisdictions to which the Company is subject, which are primarily in the United Kingdom and the United States, as carryforward attributes generated in years past may still be adjusted upon examination by the United Kingdom’s H.M. Revenue & Customs, the Internal Revenue Service (“IRS”) or state tax authorities if they have or will be used in a future period. The Company is currently not under examination by the IRS or any other jurisdictions for any tax years.

Geographic Information

12 Months Ended

Dec. 31, 2013

Geographic Information

Geographic Information

15. Geographic Information

Geographic information for the years ended December 31, 2011, 2012 and 2013 is as follows:

	Year ended December 31, 2011		Year ended December 31, 2012		Year ended December 31, 2013
	$000		$000		$000
Revenue
United Kingdom	—		69		1,084
Total Revenue	—		69		1,084
Net loss
United States:
Continuing operations	565		(1,672	)	1,114
Discontinued operations	(640	)	570		57
Total United States	(75	)	(1,102	)	1,171
United Kingdom	(15,168	)	(12,084	)	(11,324	)
Total Net Loss	(15,243	)	(13,186	)	(10,153	)

	December 31,
	2012	2013
	$000	$000
Total Assets
United States:
Continuing operations	14,286	27,837
Discontinued operations	1,214	711
Total United States	15,500	28,548
United Kingdom	3,854	6,972
Total Assets	19,354	35,520

Long Lived Assets, net
United States:
Continuing operations	25	5
Discontinued operations	—	—
Total United States	25	5
United Kingdom	104	270
Total Long Lived Assets, net	129	275

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events

Subsequent Events

16. Subsequent Events

Preferred Stock Dividend

On March 17, 2014, the Company’s Board of Directors declared a quarterly cash dividend in the amount of $0.15 per share on the Company’s Preferred Stock with respect to the first quarter of 2014. The Company is expected to pay the dividend on May 1, 2014 to holders of record of the Preferred Stock as of the close of business on April 18, 2014.

The Board considered numerous factors in determining whether to declare the quarterly dividend, including the requisite financial analysis and determination of a surplus. While the Board will analyze the advisability of the declaration of dividends in future quarters, there is no assurance that future quarterly dividends will be declared.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

Use of Estimates

Use of Estimates

Risks and Uncertainties

Risks and Uncertainties

Foreign Currency and Currency Translation

Foreign Currency and Currency Translation

Segments

Segments

Cash and Cash Equivalents

Cash and Cash Equivalents

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Property, Plant and Equipment

Property, Plant and Equipment

Impairment of Long-lived Assets

Impairment of Long-lived Assets

Impairment, if any, is measured as the amount by which the carrying amount of a long-lived asset (or asset group) exceeds its fair value.

Revenue Recognition

Revenue Recognition

Clinical Trial Accounting

Clinical Trial Accounting

Research and Development Expenditures

Research and Development Expenditures

Patent Costs

Patent Costs

Patent prosecution costs are charged to operations as incurred as recoverability of such expenditure is uncertain.

Leased Assets

Leased Assets

The costs of operating leases are charged to operations on a straight-line basis over the lease term.

Income Taxes

Income Taxes

Net Loss Per Common Share

Net Loss Per Common Share

	Year ended December 31, 2011		Year ended December 31, 2012		Year ended December 31, 2013
Stock options		502,249		463,023		949,685
Restricted Stock Units		38,089		39,377		119,248
Convertible preferred stock		73,747		73,747		20,381
Contingently issuable shares and common stock warrants associated with Economic Rights		—		440,375		—
Common stock warrants		1,973,431		1,973,427		1,591,795
Total shares excluded from calculation		2,587,516		2,989,949		2,618,109

Fair Value Measurements

Fair Value Measurements

Stock-based Compensation

Stock-based Compensation

Comprehensive Income (Loss)

Comprehensive Income (Loss)

Recent Accounting Pronouncements Not Yet Effective

Recent Accounting Pronouncements Not Yet Effective

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

Schedule of antidilutive shares excluded from computation of diluted net loss per share

	Year ended December 31, 2011		Year ended December 31, 2012		Year ended December 31, 2013
Stock options		502,249		463,023		949,685
Restricted Stock Units		38,089		39,377		119,248
Convertible preferred stock		73,747		73,747		20,381
Contingently issuable shares and common stock warrants associated with Economic Rights		—		440,375		—
Common stock warrants		1,973,431		1,973,427		1,591,795
Total shares excluded from calculation		2,587,516		2,989,949		2,618,109

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2013

Cash and Cash Equivalents

Summary of cash and cash equivalents

	December 31,
	2012		2013

Cash	$	4,090	$	4,670
Investments with original maturity of less than three months at the time of purchase		12,322		26,476
Total cash and cash equivalents	$	16,412	$	31,146

Fair Value (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value

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

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2013

Prepaid Expenses and Other Current Assets [Abstarct]

Schedule of prepaid expenses and other current assets

	December 31,
	2012		2013

Research and development tax credit receivable	$	1,033	$	1,744
Prepayments		358		427
Grant receivable		—		357
Sales tax receivable		45		209
Deposits		153		132

Other current assets		10		519
	$	1,599	$	3,388

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment

Schedule of property, plant and equipment

	Useful lives in years from	December 31,
	date of acquisition	2012			2013

Leasehold improvements	5 to 15 years	$	867		$	922
Research and laboratory equipment	3 to 5 years		5,519			5,668
Office equipment and furniture	3 to 5 years		1,325			1,338
			7,711			7,928
Less: accumulated depreciation and amortization			(7,582	)		(7,653	)
		$	129		$	275

Accrued and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2013

Accrued and Other Current Liabilities

Schedule of accrued and other current liabilities

	December 31,
	2012		2013

Accrued research and development	$	3,623	$	3,565
Accrued legal and professional fees		1,118		265
Other current liabilities		860		842
	$	5,601	$	4,672

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies

Schedule of the Company's contractual obligations and commitments relating to its facilities leases

	Operating Lease Obligations

2014	$	499
2015		585
2016		585
2017		456
2018		431
Thereafter		2,867
Total	$	5,423

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Stockholders' Equity

Schedule of redemption prices per share

Year from November 1, 2012 to October 31, 2013	$	10.12
Year from November 1, 2013 to October 31, 2014	$	10.06
November 1, 2014 and thereafter	$	10.00

Schedule of conversion of convertible preferred stock

	Year ended December 31, 2013
Preferred shares exchanged		877,869
Common shares issued:
At stated convertible option		53,366
Incremental shares issued under the exchange transaction		1,631,105
Total common shares issued		1,684,471

Schedule of warrants outstanding

Issued in Connection With	Expiration Date	Common Shares Issuable		Weighted Average Exercise Price
February 2007 stock issuance	2014		151,773	$	59.08
July 2009 Series II stock issuance	2014		98,893	$	7.00
January 2010 stock issuance	2015		101,785	$	22.82
January 2010 stock issuance	2015		100,714	$	19.95
October 2010 stock issuance	2015		594,513	$	13.44
July 2011 stock issuance	2016		544,117	$	9.52
Total			1,591,795	$	17.06

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

Stock-Based Compensation Arrangements (Tables)

12 Months Ended

Dec. 31, 2013

Stock-Based Compensation Arrangements

Schedule of stock based compensation expense

	Year ended December 31, 2011			Year ended December 31, 2012			Year ended December 31, 2013

Research and development		$	171		$	71		$	75
General and administrative			669			266			282
Net (loss) income from discontinued operations			42			43			—
Stock-based compensation costs before income taxes		$	882		$	380		$	357

Schedule of stock option activity

	Number of Options Outstanding			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value ($000s)
Options outstanding at December 31, 2011		502,249		$	26.11		6.44	$	140
Granted		33,571		$	3.29
Exercised		(33,351	)	$	3.09
Cancelled/forfeited		(39,446	)	$	20.21
Options outstanding at December 31, 2012		463,023		$	26.61		5.58	$	347
Granted		494,663		$	4.22
Exercised		—
Cancelled/forfeited		(8,001	)	$	18.55
Options outstanding at December 31, 2013		949,685		$	15.02		7.38	$	152
Unvested at December 31, 2013		528,754		$	4.49		9.76	$	50
Vested and exercisable at December 31, 2013		420,931		$	28.25		4.40	$	101

Schedule of assumptions for stock option grants to employees and directors

	Year ended December 31, 2011	Year ended December 31, 2012	Year ended December 31, 2013
Expected term (years)	5 — 6	6	5 —6
Risk free interest rate	1.47 — 2.29%	0.95%	0.84% - 1.865%
Volatility	93 — 99%	98%	97—108%
Expected dividend yield over expected term	0.00%	0.00%	0.00%
Resulting weighted average grant date fair value	$8.05	$2.52	$3.25

Schedule of restricted stock units activity

	Restricted Stock Units			Weighted Average Grant Date Value Per Share
Non-vested at December 31, 2011		36,463			$	5.60
Granted		12,281			$	3.85
Forfeited		(6,904	)		$	4.99
Vested		(2,463	)		$	3.08
Non-vested at December 31, 2012		39,377			$	5.34
Granted		85,097			$	5.71
Forfeited		(5,226	)		$	5.00
Non-vested at December 31, 2013		119,248			$	5.62

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2013

Discontinued Operations

Schedule of assets and liabilities, and product revenue, cost of goods sold and selling, general and administrative costs of discontinued operations

	Year ended December 31, 2011			Year ended December 31, 2012			Year ended December 31, 2013			Period from August 13, 1996 (inception) to December 31, 2013

Product revenue	$	699		$	583		$	—		$	3,604
Cost of goods sold		(360	)		(293	)		—			(2,045	)
Selling, general and administrative		(979	)		(607	)		—			(9,295	)
Goodwill and intangible impairment		—			—			—			(5,187	)
Interest income		—			32			91			123
Interest expense		—			—			—			(110	)
Gain on termination of license agreement		—			1,192			—			1,192
(Loss) income from discontinued operations		(640	)		907			91			(11,718	)
Income tax expense		—			(337	)		(34	)		(371	)
(Loss) income from discontinued operations, net of tax	$	(640	)	$	570		$	57		$	(12,089	)

	December 31, 2012		December 31, 2013

Current assets of discontinued operations:
Short term portion of minimum royalty arrangement receivable, net	$	536	$	379
Returns indemnification receivable		325		260
Total current assets of discontinued operations		861		639
Long-term assets of discontinued operations:
Long-term portion of minimum royalty arrangement receivable, net		353		72
Total assets of discontinued operations	$	1,214	$	711

Current liabilities of discontinued operations:
Accounts payable	$	10	$	—
Returns provision		325		260
Total current liabilities of discontinued operations	$	335	$	260

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Taxes

Schedule of components of (loss) gain before taxes from continuing operations

	Year ended December 31, 2011			Year ended December 31, 2012			Year ended December 31, 2013

Domestic	$	904		$	(2,009	)	$	1,132
Foreign		(16,072	)		(13,098	)		(13,012	)
Loss from continuing operations before taxes	$	(15,168	)	$	(15,107	)	$	(11,880	)

Schedule of benefit for income taxes from continuing operations

	Year ended December 31, 2011		Year ended December 31, 2012		Year ended December 31, 2013

Current — domestic	$	—	$	—	$	(25)
Current — foreign		565		1,014		1,695
Current — total		565		1,014		1,670
Deferred — domestic		—		337		—
Income tax benefit	$	565	$	1,351	$	1,670

Schedule of reconciliation of the (benefit) provision for income taxes from continuing operations with the amount computed by applying the statutory federal tax rate to loss before income taxes

	Year ended December 31, 2011			Year ended December 31, 2012			Year ended December 31, 2013

Loss from continuing operations before taxes	$	(15,168	)	$	(15,107	)	$	(11,880	)

Income tax expense computed at statutory federal tax rate		(5,157	)		(5,136	)		(4,039	)
Disallowed expenses and non-taxable income		(141	)		176			62
Loss surrendered to generate R&D credit		1,372			3,025			4,833
Additional research and development tax relief		(2,260	)		(2,656	)		(4,418	)
Change in valuation allowance		2,952			(579	)		6,302
Research and development tax credit rate difference		—			—			—
Research and development true up		—			—			(4,530	)
Foreign items, including change in tax rates, and other		2,669			3,819			120
	$	(565	)	$	(1,351	)	$	(1,670	)

Schedule of significant components of the entity's deferred tax assets

	December 31,
	2012			2013

Net operating loss carryforwards	$	42,399		$	46,144
Depreciation, amortization and impairment of property and equipment		1,654			67
Stock options		1,451			1,651
Accrued expenses		3,389			3,373
Research and development credits		—			4,530
Other		45			82
Translation adjustment		1,277			660
Deferred tax assets		50,215			56,507
Valuation allowance for deferred tax assets		(50,215	)		(56,507	)
Net deferred taxes	$	—		$	—

Geographic Information (Tables)

12 Months Ended

Dec. 31, 2013

Geographic Information

Schedule of geographic information

	Year ended December 31, 2011		Year ended December 31, 2012		Year ended December 31, 2013
	$000		$000		$000
Revenue
United Kingdom	—		69		1,084
Total Revenue	—		69		1,084
Net loss
United States:
Continuing operations	565		(1,672	)	1,114
Discontinued operations	(640	)	570		57
Total United States	(75	)	(1,102	)	1,171
United Kingdom	(15,168	)	(12,084	)	(11,324	)
Total Net Loss	(15,243	)	(13,186	)	(10,153	)

	December 31,
	2012	2013
	$000	$000
Total Assets
United States:
Continuing operations	14,286	27,837
Discontinued operations	1,214	711
Total United States	15,500	28,548
United Kingdom	3,854	6,972
Total Assets	19,354	35,520

Long Lived Assets, net
United States:
Continuing operations	25	5
Discontinued operations	—	—
Total United States	25	5
United Kingdom	104	270
Total Long Lived Assets, net	129	275

Organization of the Company (Details) $ in Millions	12 Months Ended
Organization of the Company (Details) $ in Millions	Dec. 31, 2013 USD ($)
Nature of Operations
Grant awarded from UK Government's Biomedical Catalyst	$ 1.5

Summary of Significant Accounting Policies (Details)	12 Months Ended			209 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2013 Segment Country	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2013 USD ($) Country
Segments
Number of operating segments \| Segment	1
Number of geographic areas for development operations \| Country	2			2
Property, plant and equipment
Fixed assets sold			$ 6,000
Proceeds from sale of property, plant and equipment		$ 62,000	$ 5,000	$ 225,000
Property, plant and equipment \| Minimum
Property, plant and equipment
Estimated useful life	3 years
Property, plant and equipment \| Maximum
Property, plant and equipment
Estimated useful life	5 years
Leasehold improvements \| Minimum
Property, plant and equipment
Estimated useful life	5 years
Leasehold improvements \| Maximum
Property, plant and equipment
Estimated useful life	15 years

Summary of Significant Accounting Policies (Details 2)	12 Months Ended
Summary of Significant Accounting Policies (Details 2)	Dec. 31, 2013 USD ($)
Product sales
Nonrefundable revenue recognized	$ 0
Taxes recorded on items of other comprehensive income	$ 0

Summary of Significant Accounting Policies (Details 3) - shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Net loss per common share
Total shares excluded from calculation	2,618,109	2,989,949	2,587,516
Stock options
Net loss per common share
Total shares excluded from calculation	949,685	463,023	502,249
Restricted Stock Units
Net loss per common share
Total shares excluded from calculation	119,248	39,377	38,089
Convertible preferred stock
Net loss per common share
Total shares excluded from calculation	20,381	73,747	73,747
Contingently issuable common stock and common stock warrants associated with Economic Rights
Net loss per common share
Total shares excluded from calculation		440,375
Common stock warrants
Net loss per common share
Total shares excluded from calculation	1,591,795	1,973,427	1,973,431

Significant Contracts (Details) - Daiichi Sankyo $ in Millions	1 Months Ended		12 Months Ended
	Jul. 31, 2011 Country	Apr. 30, 2011 USD ($)	Dec. 31, 2013 USD ($)
Loss Contingencies [Line Items]
Up-front fee and certain past reimbursements		$ 1.6
Future milestone payments payable			$ 10.0
Period for which royalties will be paid following the first commercial sale of licensed products in the country			10 years
Notice period for termination of license by the entity for technical, scientific, efficacy, safety, or commercial reasons			6 months
Notice period for termination of license after launch of a sapacitabine-based product by the entity, or by either party for material default			12 months
Minimum
Loss Contingencies [Line Items]
Number of countries for which regulatory approval is required by September 2011 to sell sapacitabine as per termination right waived after amendment to the agreement \| Country	1
Percentage of increase in royalty due on future net sales of sapacitabine after amendment			1.25%
Maximum
Loss Contingencies [Line Items]
Percentage of increase in royalty due on future net sales of sapacitabine after amendment			1.50%

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash and Cash Equivalents
Cash	$ 4,670	$ 4,090
Investments with original maturity of less than three months at the time of purchase	26,476	12,322
Total cash and cash equivalents	$ 31,146	$ 16,412	$ 24,449	$ 29,495

Fair Value (Details) - Recurring basis - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Level 1
ASSETS
Cash equivalents	$ 26,476	$ 5,523
Financial instrument associated with stock purchase agreement
Total assets	26,476	5,523
Other liabilities measured at fair value:
Warrants Liability
Scottish Enterprise agreement
Other liabilities measured at fair value
Total liabilities
Level 2
ASSETS
Cash equivalents		6,799
Financial instrument associated with stock purchase agreement	397
Total assets	397	6,799
Other liabilities measured at fair value:
Warrants Liability
Scottish Enterprise agreement
Other liabilities measured at fair value
Total liabilities
Level 3
ASSETS
Cash equivalents
Financial instrument associated with stock purchase agreement
Total assets
LIABILITIES
Economic rights		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	20	1,140
Total
ASSETS
Cash equivalents	26,476	12,322
Financial instrument associated with stock purchase agreement	397
Total assets	26,873	12,322
LIABILITIES
Economic rights		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	$ 20	$ 1,140

Fair Value (Details 2) $ in Thousands	12 Months Ended
Fair Value (Details 2) $ in Thousands	Dec. 31, 2013 USD ($)
Reconciliation of the beginning and ending balance of Level 3 inputs
Balance at the beginning of the period	$ 1,140
Balance at the end of the period	20
Economic Rights
Reconciliation of the beginning and ending balance of Level 3 inputs
Change in valuation of liability	(570)
Movement of valuation of liability from Level 3 to Level 2	$ (550)

Fair Value (Details 3) - USD ($) $ in Thousands		1 Months Ended		11 Months Ended	12 Months Ended			209 Months Ended
Fair Value (Details 3) - USD ($) $ in Thousands	Mar. 22, 2012	Apr. 30, 2013	Feb. 28, 2007	Nov. 14, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Fair value measurements
Purchase price for shares issued under purchase agreement					$ 9,126	$ 1,418
Change in valuation of Economic Rights					570	$ (23)		$ 547
Purchase Agreement \| Aspire Capital Fund, LLC
Fair value measurements
Number of shares issued under purchase agreement				511,509
Purchase price for shares issued under purchase agreement				$ 2,000
Shares committed to purchase				3,042,038
Period of common stock purchase agreement				2 years
Fair value of financial instrument				$ 500	400			$ 400
Decrease in the fair value of the Purchase Agreement					(100)
Definitive Agreement \| Celgene Corporation
Fair value measurements
One-time payment received for patent related uses		$ 5,500
Economic Rights
Fair value measurements
Amount to be paid as percentage of future litigation settlement amount received	10.00%
Warrants Liability
Change in fair value of warrants					570
Economic Rights \| Minimum
Warrants Liability
Expected volatility (as a percent)						25.00%
Economic Rights \| Maximum
Warrants Liability
Expected volatility (as a percent)						75.00%
Economic Rights \| Definitive Agreement
Fair value measurements
Payment made to economic right holder		$ 600
Fair value of the liability						$ 1,100
Change in valuation of Economic Rights					$ (600)
Warrants
Warrants Liability
Fair value of the warrants			$ 6,800			$ 0
Risk free interest rate (as a percent)			4.68%
Expected volatility (as a percent)			85.00%
Expected dividend yield (as a percent)			0.00%
Contractual life			7 years
Expected term						1 month 17 days
Change in fair value of warrants						$ 100	$ 600

Fair Value (Details 4) - Scottish Enterprise Agreement £ in Millions	1 Months Ended	12 Months Ended
	Jun. 30, 2009 Tranche	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2013 GBP (£)	Dec. 31, 2012 GBP (£)	Jan. 06, 2010 USD ($)	Jan. 06, 2010 GBP (£)	Dec. 31, 2009 USD ($)	Jul. 02, 2009 USD ($)	Jul. 02, 2009 GBP (£)	Jun. 22, 2009 USD ($)	Jun. 22, 2009 GBP (£)
Scottish Enterprise Agreement
Maximum guaranteed amount potentially due to SE		$ 6,600,000	$ 6,500,000		£ 4.0			$ 8,000,000				£ 5.0
Modified payment for which parties agreed											$ 1,700,000	£ 1.0
Number of tranches in which modified payment will be paid \| Tranche	2
Amount paid						$ 800,000	£ 0.5		$ 800,000	£ 0.5
Potential amount to be paid if staffing levels reduced below the prescribed levels		6,300,000	6,100,000	£ 3.8	£ 3.8
Fair value of the liability \| $		$ 20,000	$ 20,000
Expected volatility (as a percent)		30.00%	30.00%
Probability of falling below a minimum staffing level within prescribed time period (as a percent)		1.00%	1.00%

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Prepaid Expenses and Other Current Assets [Abstarct]
Research and development tax credit receivable	$ 1,744	$ 1,033
Prepayments	427	358
Grant receivable	357
Sales tax receivable	209	45
Deposits	132	153
Other current assets	519	10
Total prepaid expenses and other current assets	$ 3,388	$ 1,599

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Property, plant and equipment
Property, plant and equipment, gross	$ 7,928	$ 7,711
Less: accumulated depreciation and amortization	(7,653)	(7,582)
Property, Plant and Equipment, Net	275	129
Leasehold improvements
Property, plant and equipment
Property, plant and equipment, gross	$ 922	867
Leasehold improvements \| Minimum
Property, plant and equipment
Useful lives in years from date of acquisition	5 years
Leasehold improvements \| Maximum
Property, plant and equipment
Useful lives in years from date of acquisition	15 years
Research and laboratory equipment
Property, plant and equipment
Property, plant and equipment, gross	$ 5,668	5,519
Research and laboratory equipment \| Minimum
Property, plant and equipment
Useful lives in years from date of acquisition	3 years
Research and laboratory equipment \| Maximum
Property, plant and equipment
Useful lives in years from date of acquisition	5 years
Office equipment and furniture
Property, plant and equipment
Property, plant and equipment, gross	$ 1,338	$ 1,325
Office equipment and furniture \| Minimum
Property, plant and equipment
Useful lives in years from date of acquisition	3 years
Office equipment and furniture \| Maximum
Property, plant and equipment
Useful lives in years from date of acquisition	5 years

Property, Plant and Equipment (Details 2) - USD ($)	12 Months Ended			209 Months Ended
Property, Plant and Equipment (Details 2) - USD ($)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Depreciation and amortization
Depreciation and amortization expense	$ 70,000	$ 60,000	$ 241,000	$ 12,685,000
Assets held under capital lease arrangements	$ 0	$ 0		$ 0

Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Accrued and Other Current Liabilities
Accrued research and development	$ 3,565	$ 3,623
Accrued legal and professional fees	265	1,118
Other current liabilities	842	860
Total	$ 4,672	$ 5,601

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2013 USD ($)
Operating Lease Obligations
2014	$ 499
2015	585
2016	585
2017	456
2018	431
Thereafter	2,867
Total	$ 5,423

Commitments and Contingencies (Details 2) - USD ($)	1 Months Ended			12 Months Ended
Commitments and Contingencies (Details 2) - USD ($)	Nov. 30, 2013	May 31, 2011	Oct. 31, 2000	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Leases, related disclosures
Rent expense, net				$ 800,000	$ 600,000	$ 600,000
Lease term for research and development facility			25 years
Term of sublease	1 year
Sublease income recognized				$ 23,000
Extended term of lease for office space		5 years

Commitments and Contingencies (Details 3) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended		209 Months Ended
	Apr. 30, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Preferred Dividends
Dividend rate (as a percent)		6.00%
Accrued and unpaid dividends in arrears on preferred stock		$ 600	$ 2,300
Accrued and unpaid dividends in arrears on preferred stock per share (in dollars per share)		$ 1.90	$ 1.90
Commitments And Contingencies [Line Items]
Gain on sale of patents		$ 5,500		$ 5,500
Celgene Corporation \| Definitive Agreement
Commitments And Contingencies [Line Items]
One-time payment received for patent related uses	$ 5,500

Stockholders' Equity (Details)	Dec. 31, 2013 $ / shares
Year from November 1, 2012 to October 31, 2013
Stockholders' equity
Redemption price per share (in dollars per share)	$ 10.12
Year from November 1, 2013 to October 31, 2014
Stockholders' equity
Redemption price per share (in dollars per share)	10.06
November 1, 2014 and thereafter
Stockholders' equity
Redemption price per share (in dollars per share)	$ 10

Stockholders' Equity (Details 2) $ / shares in Units, $ in Thousands		12 Months Ended	209 Months Ended
	Aug. 02, 2010 Director	Dec. 31, 2013 USD ($) Conversion_rate Series Quarter Director $ / shares shares	Dec. 31, 2013 USD ($) Series Quarter $ / shares shares	Dec. 31, 2012 $ / shares shares	Dec. 31, 2011 shares
Stockholders' equity
Preferred stock, shares issued \| shares		335,273	335,273	1,213,142
Preferred stock, shares outstanding \| shares		335,273	335,273	1,213,142
Preferred stock, par value (in dollars per share) \| $ / shares		$ 0.001	$ 0.001	$ 0.001
Dividend rate (as a percent)		6.00%
Number of shares of Preferred Stock exchanged for common stock \| shares				0	0
Deemed dividends recorded \| $		$ 9,027	$ 12,542
Preferred stock
Stockholders' equity
Preferred stock, shares issued \| shares		335,273	335,273
Preferred stock, shares outstanding \| shares		335,273	335,273
Preferred stock, par value (in dollars per share) \| $ / shares		$ 10.00	$ 10.00
Dividend rate (as a percent)		6.00%
Liquidation preference (in dollars per share) \| $ / shares		$ 10	$ 10
Number of shares to be issued for each preferred stock upon conversion \| Conversion_rate		0.06079
Conversion price (in dollars per share) \| $ / shares		$ 164.50
Shares reserved for future issuance upon conversion \| shares		20,381	20,381
Percentage of the closing sales price of the entity's common stock that the conversion price must exceed in order for the preferred stock to be convertible		150.00%
Number of trading days during which the closing price of the entity's common stock must exceed the conversion price for at least 20 days in order for the preferred stock to be convertible		30 days
Number of trading days prior to notice of automatic conversion		5 days
Number of quarters in which no preferred stock dividends have been paid \| Quarter		6	6
Number of Board of Directors to be elected by Preferred Stock holders if entity fails to pay dividends on Preferred Stock \| Director		2
Number of Board of Directors elected by the Preferred Stock holders when the entity failed to pay dividends on Preferred Stock \| Director	2
Interest rate (as a percent)		6.00%	6.00%
Debt principal amount per share, basis for exchange (in dollars per share) \| $ / shares		$ 10
Debt instrument, term		25 years
Preferred stock \| Minimum
Stockholders' equity
Number of series of Preferred Stock \| Series		1	1
Closing price of stock (in dollars per share) \| $ / shares		$ 246.75	$ 246.75
Number of trading days within 30 trading days in which the closing price of the entity's common stock must exceed the conversion price for the preferred stock to be convertible		20 days

Stockholders' Equity (Details 3) - shares	12 Months Ended
Stockholders' Equity (Details 3) - shares	Dec. 31, 2013	Dec. 31, 2010
Preferred stock
Conversion of Convertible Preferred Stock
Preferred shares exchanged (in shares)	877,869
Common stock
Common shares issued:
At stated convertible option (in shares)	53,366
Incremental shares issued under the exchange transaction (in shares)	1,631,105
Total common shares issued (in shares)	1,684,471	236,514

Stockholders' Equity (Details 4)						1 Months Ended								3 Months Ended	8 Months Ended	9 Months Ended	12 Months Ended											209 Months Ended
Stockholders' Equity (Details 4)	Dec. 14, 2012 USD ($) shares	Mar. 22, 2012	Jul. 07, 2011 USD ($) $ / shares shares	Oct. 07, 2010 USD ($) $ / shares $ / Warrant shares	Jan. 13, 2010 USD ($) $ / shares $ / Warrant shares	May 21, 2013 USD ($) $ / shares shares	May 16, 2013 $ / shares shares	Apr. 30, 2013 USD ($)	Mar. 22, 2012 USD ($) $ / shares shares	Jan. 25, 2010 USD ($) $ / shares $ / Warrant shares	Nov. 24, 2009 USD ($) shares	Jul. 29, 2009 USD ($) $ / shares $ / Warrant shares	Feb. 16, 2007 USD ($) shares	Mar. 31, 2010 USD ($) shares	Mar. 31, 1997 USD ($)	Dec. 31, 2003 USD ($) shares	Dec. 31, 2013 USD ($) $ / shares $ / Warrant shares	Dec. 31, 2012 USD ($) $ / shares shares	Dec. 31, 2011 USD ($) shares	Dec. 31, 2010 USD ($) shares	Dec. 31, 2009 USD ($) shares	Dec. 31, 2007 USD ($) shares	Dec. 31, 2004 USD ($) shares	Mar. 31, 2003 USD ($)	Mar. 31, 2002 USD ($) shares	Mar. 31, 2000 USD ($) shares	Mar. 31, 1998 USD ($) shares	Dec. 31, 2013 USD ($) $ / shares $ / Warrant shares
Common Stock
Purchase price for shares issued under purchase agreement \| $																	$ 9,126,000	$ 1,418,000
Common stock, par value (in dollars per share) \| $ / shares																	$ 0.001	$ 0.001										$ 0.001
Proceeds from sale of common stock, net of certain fees and expenses \| $															$ 1,000	$ 27,635,000	$ 19,006,000		$ 9,272,000	$ 11,897,000	$ 2,847,000	$ 33,357,000	$ 8,541,000			$ 12,717,000	$ 4,217,000
Non-cash consideration associated with stock purchase agreement \| $																	$ 98,000	$ 423,000										$ 521,000
Exercise price of warrants (in dollars per share) \| $ / Warrant																	17.06											17.06
Warrants outstanding																	1,591,795											1,591,795
Economic Rights settled for payments \| $								$ 600,000
Exercise of Stock Options
Stock option exercised (in shares)																		33,351	948
Proceeds from exercise of stock options \| $																$ 115,000		$ 100,000	$ 3,000			$ 163,000		$ 12,000	$ 106,000	$ 40,000
Common stock
Common Stock
Number of shares issued under purchase agreement																	2,133,401	233,530
Purchase price for shares issued under purchase agreement \| $																	$ 2,000
Shares sold (in shares)																215,755	6,833,334		1,088,235	742,857	571,429	607,095	61,510		779	76,984	38,111
Proceeds from sale of common stock, net of certain fees and expenses \| $																	$ 6,000		$ 1,000	$ 1,000	$ 1,000	$ 1,000
Stock issued upon exercise of warrants (in shares)																				374,038			3,233
Exercise of Stock Options
Stock option exercised (in shares)																936						3,644				324
Common stock warrants
Common Stock
Transaction date fair value \| $													$ 6,800,000
Risk free interest rate (as a percent)													4.58%
Expected volatility (as a percent)													85.00%
Expected dividend yield (as a percent)													0.00%
Contractual life													6 years 10 months 17 days
Number of additional units that can be acquired upon exercise of right													151,773
Change in value of warrants \| $																		$ 600,000	600,000
Gains on change in value of warrants \| $																		100,000	$ 100,000
November 2013 stock issuance \| Common stock \| Aspire Capital Fund, LLC
Common Stock
Number of shares issued under purchase agreement	511,509
Purchase price for shares issued under purchase agreement \| $	$ 2,000,000
Period of common stock purchase agreement	2 years
Stock issued for non-cash consideration	166,105
November 2013 stock issuance \| Common stock \| Maximum \| Aspire Capital Fund, LLC
Common Stock
Shares committed to purchase	3,042,038
Common stock purchase agreement, purchase commitment \| $	$ 18,000,000
December 2012 stock issuance \| Common stock \| Aspire Capital Fund, LLC
Common Stock
Number of shares issued under purchase agreement	158,982
Purchase price for shares issued under purchase agreement \| $	$ 1,000,000
Period of common stock purchase agreement	2 years
Stock issued for non-cash consideration	74,548
Non-cash consideration associated with stock purchase agreement \| $																		$ 400,000
December 2012 stock issuance \| Common stock \| Maximum \| Aspire Capital Fund, LLC
Common Stock
Shares committed to purchase	1,455,787
Common stock purchase agreement, purchase commitment \| $	$ 19,000,000
May 2013 sale of common stock
Common Stock
Shares committed for sale under agreement							6,666,667
Common stock, par value (in dollars per share) \| $ / shares							$ 0.001
Offering price per unit (in dollars per unit) \| $ / shares						$ 3.00	$ 3.00
Shares sold (in shares)						6,833,334
Number of share sold that were subject to the underwriters' over-allotment option						166,667
Proceeds from sale of common stock, net of certain fees and expenses \| $						$ 19,000,000
March 2012 Sale of Common Stock and Economic Rights
Common Stock
Offering price per unit (in dollars per unit) \| $ / shares									$ 4.53
Shares sold (in shares)									669,726
Net proceeds \| $									$ 2,900,000
Number of days used to calculate average closing price									10 days
Amount to be paid as percentage of future litigation settlement amount received		10.00%							10.00%
Lock-up period from the date of issuance									1 year
July 2011 stock issuance
Common Stock
Offering price per unit (in dollars per unit) \| $ / shares			$ 9.52
Net proceeds \| $			$ 9,300,000
Units issued (in shares)			1,088,235
Gross proceeds \| $			$ 10,400,000
Exercise price of warrants (in dollars per share) \| $ / Warrant																	9.52											9.52
Warrants outstanding																	544,117											544,117
Underwriting discounts and commissions and other fees and expenses \| $			1,100,000
July 2011 stock issuance \| Common stock
Common Stock
Net proceeds \| $			$ 6,800,000
Number of shares of common stock for each capital unit			1
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares			$ 6.23
July 2011 stock issuance \| Warrants
Common Stock
Offering price per unit (in dollars per unit) \| $ / shares			$ 9.52
Net proceeds \| $			$ 2,500,000
Term of warrants			5 years
Number of common stock purchase warrants for each capital unit			0.5
Period from which warrants or rights are exercisable			6 months
Transaction date fair value \| $			$ 3,500,000
Risk free interest rate (as a percent)			1.74%
Expected volatility (as a percent)			99.00%
Expected dividend yield (as a percent)			0.00%
Contractual life			5 years
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares			$ 4.62
October 2010 stock issuance
Common Stock
Offering price per unit (in dollars per unit) \| $ / shares				$ 12.78
Net proceeds \| $				$ 14,000,000
Units issued (in shares)				1,189,027
Gross proceeds \| $				$ 15,200,000
Exercise price of warrants (in dollars per share) \| $ / Warrant																	13.44											13.44
Warrants outstanding																	594,513											594,513
October 2010 stock issuance \| Common stock
Common Stock
Net proceeds \| $				$ 8,900,000
Number of shares of common stock for each capital unit				1
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares				$ 7.49
October 2010 stock issuance \| Warrants
Common Stock
Net proceeds \| $				$ 3,300,000
Term of warrants				5 years
Number of common stock purchase warrants for each capital unit				1
Exercise price of warrants (in dollars per share) \| $ / Warrant				13.44
Transaction date fair value \| $				$ 5,100,000
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares				$ 5.53
Number of common shares that can be acquired upon exercise of each warrant				0.5
October 2010 stock issuance \| Additional optional units
Common Stock
Offering price per unit (in dollars per unit) \| $ / shares				$ 11.69
Net proceeds \| $				$ 1,800,000
Gross proceeds \| $				$ 6,900,000
Period from which warrants or rights are exercisable				9 months
Transaction date fair value \| $				$ 2,800,000
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares				$ 3.01
Number of additional units that can be acquired upon exercise of right				594,513
January 2010 stock issuance, one
Common Stock
Offering price per unit (in dollars per unit) \| $ / shares										$ 17.50
Net proceeds \| $										$ 5,400,000
Units issued (in shares)										335,714
Gross proceeds \| $										$ 5,900,000
Exercise price of warrants (in dollars per share) \| $ / Warrant																	22.82											22.82
Warrants outstanding																	101,785											101,785
January 2010 stock issuance, one \| Common stock
Common Stock
Net proceeds \| $										$ 4,500,000
Number of shares of common stock for each capital unit										1
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares										$ 13.51
January 2010 stock issuance, one \| Warrants
Common Stock
Net proceeds \| $										$ 900,000
Term of warrants										5 years
Number of common stock purchase warrants for each capital unit										1
Exercise price of warrants (in dollars per share) \| $ / Warrant										19.95
Period from which warrants or rights are exercisable										6 months
Transaction date fair value \| $										$ 1,000,000
Risk free interest rate (as a percent)										2.39%
Expected volatility (as a percent)										90.00%
Expected dividend yield (as a percent)										0.00%
Contractual life										5 years
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares										$ 9.03
Number of common shares that can be acquired upon exercise of each warrant										0.30
January 2010 stock issuance, two
Common Stock
Offering price per unit (in dollars per unit) \| $ / shares					$ 17.57
Net proceeds \| $					$ 6,500,000
Units issued (in shares)					407,143
Gross proceeds \| $					$ 7,200,000
Exercise price of warrants (in dollars per share) \| $ / Warrant																	19.95											19.95
Warrants outstanding																	100,714											100,714
January 2010 stock issuance, two \| Common stock
Common Stock
Net proceeds \| $					$ 5,600,000
Number of shares of common stock for each capital unit					1
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares					$ 13.65
January 2010 stock issuance, two \| Warrants
Common Stock
Net proceeds \| $					$ 900,000
Term of warrants					5 years
Number of common stock purchase warrants for each capital unit					1
Exercise price of warrants (in dollars per share) \| $ / Warrant					22.82
Period from which warrants or rights are exercisable					6 months
Transaction date fair value \| $					$ 1,300,000
Risk free interest rate (as a percent)					2.55%
Expected volatility (as a percent)					90.00%
Expected dividend yield (as a percent)					0.00%
Contractual life					5 years
Net proceeds per share (in dollars per share/warrant/unit) \| $ / shares					$ 9.24
Number of common shares that can be acquired upon exercise of each warrant					0.25
July 2009 Series II stock issuance
Common Stock
Offering price per unit (in dollars per unit) \| $ / shares												$ 5.95
Units issued (in shares)												571,429
Exercise price of warrants (in dollars per share) \| $ / Warrant																	7.00											7.00
Warrants outstanding																	98,893											98,893
July 2009 Series II stock issuance \| Common stock
Common Stock
Number of shares of common stock for each capital unit												1
July 2009 Series II stock issuance \| Warrants
Common Stock
Net proceeds \| $												$ 2,900,000
July 2009 Series II stock issuance \| Series I Warrant
Common Stock
Term of warrants												7 months
Number of common stock purchase warrants for each capital unit												1
Exercise price of warrants (in dollars per share) \| $ / Warrant												7
Period from which warrants or rights are exercisable												6 months
Number of common shares that can be acquired upon exercise of each warrant												0.625
Proceeds from exercise of warrants \| $														$ 2,500,000
July 2009 Series II stock issuance \| Series II Warrant
Common Stock
Term of warrants												5 years
Number of common stock purchase warrants for each capital unit												1
Exercise price of warrants (in dollars per share) \| $ / Warrant												7
Period from which warrants or rights are exercisable												6 months
Warrants outstanding																	98,893											98,893
Transaction date fair value \| $												$ 600,000
Risk free interest rate (as a percent)												2.69%
Expected volatility (as a percent)												90.00%
Expected dividend yield (as a percent)												0.00%
Contractual life												5 years
Number of common shares that can be acquired upon exercise of each warrant												0.1838805
Proceeds from exercise of warrants \| $														$ 43,266
Stock issued upon exercise of warrants (in shares)														6,181			0	0	0
December 2007 CEFF \| Common stock \| Kingsbridge
Common Stock
Shares sold (in shares)																				402,704
Net proceeds \| $																				$ 4,900,000
Number of common shares committed to be purchased											583,513
Value of common shares committed to be purchased \| $											$ 60,000,000
Period over which common shares are committed to be purchased											3 years

Stockholders' Equity (Details 5)	Dec. 31, 2013 $ / Warrant shares
Warrants outstanding
Warrants outstanding \| shares	1,591,795
Weighted Average Exercise Price (in dollars per share) \| $ / Warrant	17.06
February 2007 stock issuance
Warrants outstanding
Warrants outstanding \| shares	151,773
Weighted Average Exercise Price (in dollars per share) \| $ / Warrant	59.08
July 2009 Series II stock issuance
Warrants outstanding
Warrants outstanding \| shares	98,893
Weighted Average Exercise Price (in dollars per share) \| $ / Warrant	7.00
January 2010 stock issuance, one
Warrants outstanding
Warrants outstanding \| shares	101,785
Weighted Average Exercise Price (in dollars per share) \| $ / Warrant	22.82
January 2010 stock issuance, two
Warrants outstanding
Warrants outstanding \| shares	100,714
Weighted Average Exercise Price (in dollars per share) \| $ / Warrant	19.95
October 2010 stock issuance
Warrants outstanding
Warrants outstanding \| shares	594,513
Weighted Average Exercise Price (in dollars per share) \| $ / Warrant	13.44
July 2011 stock issuance
Warrants outstanding
Warrants outstanding \| shares	544,117
Weighted Average Exercise Price (in dollars per share) \| $ / Warrant	9.52

Stock-Based Compensation Arrangements (Details)	12 Months Ended
Stock-Based Compensation Arrangements (Details)	Dec. 31, 2013
Minimum
Stock-based compensation
Vesting period	3 years
Maximum
Stock-based compensation
Vesting period	4 years
Executive officers \| Minimum
Stock-based compensation
Vesting period	3 years
Executive officers \| Maximum
Stock-based compensation
Vesting period	5 years

Stock-Based Compensation Arrangements (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Stock-based compensation
Stock-based compensation costs before income taxes	$ 357	$ 380	$ 882
Research and development
Stock-based compensation
Stock-based compensation costs before income taxes	75	71	171
General and administrative
Stock-based compensation
Stock-based compensation costs before income taxes	282	266	669
Net (loss) income from discontinued operations
Stock-based compensation
Stock-based compensation costs before income taxes		$ 43	$ 42

Stock-Based Compensation Arrangements (Details 2) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Number of Options Outstanding
Exercised (in shares)		(33,351)	(948)
Stock options
Number of Options Outstanding
Options outstanding at the beginning of the period (in shares)	463,023	502,249
Granted (in shares)	494,663	33,571
Exercised (in shares)		(33,351)	(948)
Cancelled / forfeited (in shares)	(8,001)	(39,446)
Options outstanding at the end of the period (in shares)	949,685	463,023	502,249
Unvested at December 31, 2013	528,754
Vested and exercisable at December 31, 2013	420,931
Weighted Average Exercise Price Per Share
Options outstanding at the beginning of the period (in dollars per share)	$ 26.61	$ 26.11
Granted (in dollars per share)	4.22	3.29
Exercised (in dollars per share)		3.09
Cancelled / forfeited (in dollars per share)	18.55	20.21
Options outstanding at the end of the period (in dollars per share)	15.02	$ 26.61	$ 26.11
Unvested at the end of the period (in dollars per share)	4.49
Vested and exercisable at the end of the period (in dollars per share)	$ 28.25
Weighted Average Remaining Contractual Term (Years)
Options outstanding	7 years 4 months 17 days	6 years 5 months 9 days
Unvested at the end of the period	9 years 9 months 4 days
Vested and exercisable at the end of the period	4 years 4 months 24 days	5 years 6 months 29 days
Aggregate Intrinsic Value
Options outstanding	$ 152	$ 140
Unvested at the end of the period	50
Vested and exercisable at the end of the period	$ 101	$ 347

Stock-Based Compensation Arrangements (Details 3) - Stock options - $ / shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Fair value of the stock options granted calculated using Black-Scholes option-pricing model assumptions
Expected term		6 years
Risk free interest rate (as a percent)		0.95%
Volatility (as a percent)		98.00%
Expected dividend yield over expected term (as a percent)	0.00%	0.00%	0.00%
Resulting weighted average grant fair value (in dollars per share)	$ 3.25	$ 2.52	$ 8.05
Minimum
Fair value of the stock options granted calculated using Black-Scholes option-pricing model assumptions
Expected term	5 years		5 years
Risk free interest rate (as a percent)	0.84%		1.47%
Volatility (as a percent)	97.00%		93.00%
Maximum
Fair value of the stock options granted calculated using Black-Scholes option-pricing model assumptions
Expected term	6 years		6 years
Risk free interest rate (as a percent)	1.865%		2.29%
Volatility (as a percent)	108.00%		99.00%

Stock-Based Compensation Arrangements (Details 4) - USD ($)	12 Months Ended			209 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	May 23, 2012
Stock-based compensation
Number of shares reserved for issuance					10,000,000
Number of shares reserved for issuance before amendment					5,200,000
Compensation cost	$ 357,000	$ 380,000	$ 882,000
Cash proceeds		$ 94,000	$ 3,000	$ 267,000
Stock option exercised (in shares)		33,351	948
Stock options
Stock-based compensation
Expiration period	10 years
Vesting period	4 years
Weighted average grant-date fair value (in dollars per share)	$ 3.25	$ 2.52	$ 8.05
Total remaining unrecognized compensation cost	$ 1,500,000			$ 1,500,000
Weighted-average remaining requisite service period of recognition of unrecognized compensation cost	2 years 9 months 29 days
Cash proceeds		$ 100,000	$ 3,000
Total intrinsic value of options exercised		100,000	7,000
Income tax benefits recorded for share based payments		$ 0	$ 0
Granted (in shares)	494,663	33,571
Stock option exercised (in shares)		33,351	948
Stock options \| Employees and directors
Stock-based compensation
Grant date fair value	$ 1,600,000	$ 100,000	$ 200,000
Compensation cost	$ 400,000	$ 12,000	$ 24,000
Weighted average grant-date fair value (in dollars per share)	$ 3.25	$ 2.52	$ 8.05
Granted (in shares)	494,663	33,571	28,500

Stock-Based Compensation Arrangements (Details 5) - Restricted Stock Units - $ / shares	1 Months Ended	12 Months Ended
	Feb. 29, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Nonvested activity
Non-vested at the beginning of the period (in shares)		39,377	36,463
Granted (in shares)	12,281	85,097	12,281	34,000
Forfeited (in shares)		(5,226)	(6,904)
Vested (in shares)			(2,463)
Non-vested at the end of the period (in shares)		119,248	39,377	36,463
Weighted Average Grant Date Value Per Share
Non-vested at the beginning of the period (in dollars per share)		$ 5.34	$ 5.60
Granted (in dollars per share)		5.71	3.85
Forfeited (in dollars per share)		5.00	4.99
Vested (in dollars per share)			3.08
Non-vested at the end of the period (in dollars per share)		$ 5.62	$ 5.34	$ 5.60

Stock-Based Compensation Arrangements (Details 6)	1 Months Ended	12 Months Ended
Stock-Based Compensation Arrangements (Details 6)	Feb. 29, 2012 shares	Dec. 31, 2013 USD ($) Security shares	Dec. 31, 2012 USD ($) shares	Dec. 31, 2011 USD ($) shares
Minimum
Stock based compensation, additional disclosures
Vesting period		3 years
Maximum
Stock based compensation, additional disclosures
Vesting period		4 years
Stock options
Stock based compensation, additional disclosures
Income (expense) recognized due to revision of forfeiture rate		$ 40,000	$ 100,000	$ 200,000
Number of Federal Reserve securities whose weighted average is used for calculation of weighted average risk-free interest rate \| Security		2
Weighted-average remaining requisite service period of recognition of unrecognized compensation cost		2 years 9 months 29 days
Vesting period		4 years
Stock options \| Minimum
Stock based compensation, additional disclosures
Forfeiture rate (as a percent)		0.00%
Stock options \| Maximum
Stock based compensation, additional disclosures
Forfeiture rate (as a percent)		30.00%
Restricted Stock Units
Stock based compensation, additional disclosures
Total remaining unrecognized compensation cost		$ 100,000
Weighted-average remaining requisite service period of recognition of unrecognized compensation cost		1 year 22 days
Vesting period			3 years	3 years
Granted (in shares) \| shares	12,281	85,097	12,281	34,000

Employee Benefit Plans (Details) - USD ($)	12 Months Ended
Employee Benefit Plans (Details) - USD ($)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Pension Plan
Employee benefit plans
Contribution made by the entity under the pension plan	$ 100,000	$ 100,000	$ 100,000
401 (k) Plan
Employee benefit plans
Matching contribution by employer as a percentage of the employee's deferral		100.00%
Matching contribution by employer as a percentage of U.S. employee's qualifying compensation		6.00%
Statutorily prescribed annual limit of contributions made by an employee before attaining specified age		$ 17,000
Statutorily prescribed annual limit of contributions made by an employee after attaining specified age		$ 22,500
Specified age limit of employees for calculation of statutorily prescribed annual limit of contribution		50 years
Contribution made by the entity under the 401(k) Plan	$ 100,000	$ 100,000	$ 100,000

Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended			209 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Reclassification of operating results from continuing operations to loss from discontinued operations
Gain on termination of license agreement		$ 1,192		$ 1,192
(Loss) income from discontinued operations	$ 91	907	$ (640)	(11,718)
Income tax expense	(34)	(337)		(371)
(Loss) income from discontinued operations, net of tax	57	570	(640)	(12,089)
Xclair, Numoisyn Lozenges and Numoisyn Liquid
Reclassification of operating results from continuing operations to loss from discontinued operations
Product revenue		583	699	3,604
Cost of goods sold		(293)	(360)	(2,045)
Selling, general and administrative		(607)	(979)	(9,295)
Goodwill and intangible impairment				(5,187)
Interest income	91	32		123
Interest expense				(110)
Gain on termination of license agreement		1,192		1,192
(Loss) income from discontinued operations	91	907	(640)	(11,718)
Income tax expense	(34)	(337)		(371)
(Loss) income from discontinued operations, net of tax	$ 57	$ 570	$ (640)	$ (12,089)

Discontinued Operations (Details 1) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Current assets of discontinued operations:
Total current assets of discontinued operations	$ 639	$ 861
Current liabilities of discontinued operations:
Total current liabilities of discontinued operations	260	335
Xclair, Numoisyn Lozenges and Numoisyn Liquid
Current assets of discontinued operations:
Short-term portion of minimum royalty arrangement receivable, net	379	536
Returns indemnification receivable	260	325
Total current assets of discontinued operations	639	861
Long-term assets of discontinued operations:
Long-term portion of minimum royalty arrangement receivable, net	72	353
Total assets of discontinued operations	711	1,214
Current liabilities of discontinued operations:
Accounts payable		10
Returns provision	260	325
Total current liabilities of discontinued operations	$ 260	$ 335

Discontinued Operations (Details 2) - USD ($) $ in Thousands	12 Months Ended			209 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Discontinued operations
Disposal Group Including Discontinued Operation Gain (Loss) on Termination of Distribution Agreement		$ 1,192		$ 1,192
Xclair, Numoisyn Lozenges and Numoisyn Liquid
Discontinued operations
Present value of minimum royalty payment arising from the termination and settlement agreement	$ 900
Minimum royalty payments receivable	$ 1,000			1,000
Period of royalty arrangement	3 years
Amount recognized on offsetting product return provision liability	$ 300
Disposal Group Including Discontinued Operation Gain (Loss) on Termination of Distribution Agreement		$ 1,192		$ 1,192

Taxes (Details) - USD ($) $ in Thousands	12 Months Ended			209 Months Ended
Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Loss (income) from continuing operations before taxes
Domestic	$ 1,132	$ (2,009)	$ 904
Foreign	(13,012)	(13,098)	(16,072)
Loss from continuing operations before taxes	$ (11,880)	$ (15,107)	$ (15,168)	$ (286,264)

Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended			209 Months Ended
Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Benefit for income taxes from continuing operations
Current - domestic	$ (25)
Current - foreign	1,695	1,014	565
Current - total	1,670	1,014	565
Deferred - domestic		337
Income tax benefit	$ 1,670	$ 1,351	$ 565	$ 21,465

Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended			209 Months Ended
Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Reconciliation of the (benefit) provision for income taxes
Loss from continuing operations before taxes	$ (11,180)	$ (15,107)	$ (15,168)
Income tax expense computed at statutory federal tax rate	(4,039)	(5,136)	(5,157)
Disallowed expenses and non-taxable income	62	176	(141)
Loss surrendered to generate R&D credit	4,833	3,025	1,372
Additional research and development tax relief	(4,418)	(2,656)	(2,260)
Change in valuation allowance	6,302	(579)	2,952
Research and development tax credit rate difference
Research and development true up	(4,530)
Foreign items, including change in tax rates, and other	120	3,819	2,669
Current - total	$ (1,670)	$ (1,351)	$ (565)	$ (21,465)

Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Significant components of the entity's deferred tax assets
Net operating loss carryforwards	$ 46,144	$ 42,399
Depreciation, amortization and impairment of property and equipment	67	1,654
Stock options	1,651	1,451
Accrued expenses	3,373	3,389
Research and development credits	4,530
Other	82	45
Translation adjustment	660	1,277
Deferred tax assets	56,507	50,215
Valuation allowance for deferred tax assets	(56,507)	(50,215)
Net deferred taxes

Taxes (Details 4) - USD ($) $ in Thousands	12 Months Ended
Taxes (Details 4) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Taxes
Material uncertain tax positions	$ 0	$ 0
Valuation allowance for deferred tax assets	56,507	50,215
Change in valuation allowance	6,302	(579)	$ 2,952
Federal
Taxes
NOLs carryforward	22,100	19,200
UK
Taxes
NOLs carryforward	162,400	153,400
State
Taxes
NOLs carryforward	21,300
Research and development \| UK
Taxes
Income tax credits	$ 1,700	$ 1,400	$ 600

Geographic Information (Details) - USD ($) $ in Thousands	8 Months Ended	9 Months Ended	12 Months Ended																209 Months Ended
Geographic Information (Details) - USD ($) $ in Thousands	Mar. 31, 1997	Dec. 31, 2003	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008	Dec. 31, 2007	Dec. 31, 2006	Dec. 31, 2005	Dec. 31, 2004	Mar. 31, 2003	Mar. 31, 2002	Mar. 31, 2001	Mar. 31, 2000	Mar. 31, 1999	Mar. 31, 1998	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue			$ 1,084	$ 69															$ 7,901
Net loss	$ (290)	$ (14,977)	(10,153)	(13,186)	$ (15,243)	$ (16,021)	$ (19,570)	$ (40,386)	$ (24,053)	$ (29,258)	$ (18,048)	$ (22,742)	$ (15,542)	$ (14,853)	$ (10,382)	$ (5,686)	$ (3,964)	$ (2,534)	(276,888)
Assets			35,520	19,354															35,520
Long Lived Assets, net			275	129															275
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net loss			1,171	(1,102)	(75)
Assets			28,548	15,500															28,548
Long Lived Assets, net			5	25															5
United States \| Continuing operations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net loss			1,114	(1,672)	565
Assets			27,837	14,286															27,837
Long Lived Assets, net			5	25															5
United States \| Discontinued operations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net loss			57	570	(640)
Assets			711	1,214															711
Long Lived Assets, net
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue			1,084	69
Net loss			(11,324)	(12,084)	$ (15,168)
Assets			6,972	3,854															6,972
Long Lived Assets, net			$ 270	$ 104															$ 270

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Subsequent Events (Details)	1 Months Ended
Subsequent Events (Details)	Mar. 17, 2014 $ / shares
Subsequent event \| Preferred stock
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)	$ 0.15