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Notes Payable
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3 Months Ended | |||
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Mar. 31, 2013
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| Notes Payable [Abstract] | ||||
| Notes Payable |
During the three-month period ended March 31, 2013, we paid $656,000 of principal payments on our note payable to Hercules Technology II, L.P. (Hercules). During the three-month periods ended March 31, 2013 and 2012, we recorded interest expense of $255,000 and $293,000, including amortization of the debt discounts and deferred financing costs related to our note payable to Hercules. As of March 31, 2013, the remaining outstanding principal balance of the Hercules debt was approximately $5.1 million.
During the three-month period ended March 31, 2013, we drew an additional $4.0 million under the Platinum Montaur Life Sciences, LLC (Montaur) credit facility and recorded interest expense of $106,000. As of March 31, 2013, the total principal amount due under the Montaur credit facility was $8.0 million.
In March 2013, the Company received FDA approval to market Lymphoseek. The approval of Lymphoseek resulted in an additional $20 million being made available to the Company under the Montaur credit facility. |