Quarterly report pursuant to Section 13 or 15(d)

Credit Facility

Credit Facility
9 Months Ended
Sep. 30, 2012
Credit Facility [Abstract]  
Credit Facility
9. Credit Facility


In July 2012, we entered into an agreement with Platinum-Montaur Life Sciences, LLC (Montaur) to provide us with a credit facility of up to $50 million. Under the terms of the agreement, Montaur committed to extend up to $15 million in debt, which is available immediately, to the Company at a prime-based interest rate currently at approximately 10% per annum. Montaur has committed an additional $20 million upon FDA approval of Lymphoseek on consistent terms, with another $15 million potentially available on terms to be negotiated. No conversion features or warrants are associated with the facility. As of September 30, 2012, we have not drawn on the credit facility.