Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Aug. 31, 2013 | Nov. 15, 2013 | Feb. 28, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Aug-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'CERE | ' | ' |
Entity Registrant Name | 'CERES, INC. | ' | ' |
Entity Central Index Key | '0000767884 | ' | ' |
Current Fiscal Year End Date | '--08-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 25,224,269 | ' |
Entity Public Float | ' | ' | $49,136,976 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $8,881 | $21,069 |
Marketable securities | 21,630 | 33,565 |
Prepaid expenses | 791 | 1,050 |
Accounts receivable | 957 | 765 |
Inventories | 20 | 841 |
Other current assets | 157 | 278 |
Total current assets | 32,436 | 57,568 |
Property and equipment, net | 4,633 | 5,756 |
Marketable securities | ' | 5,720 |
Other assets | 109 | 203 |
Total long-term assets | 4,742 | 11,679 |
Total assets | 37,178 | 69,247 |
Current liabilities: | ' | ' |
Accounts payable and accrued expenses | 3,825 | 5,476 |
Deferred revenue | ' | 701 |
Deferred rent | 18 | 31 |
Current portion of long-term debt | 154 | 134 |
Total current liabilities | 3,997 | 6,342 |
Deferred rent | 93 | 88 |
Long-term debt, net of current portion | 82 | 256 |
Total liabilities | 4,172 | 6,686 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Common Stock, $0.01 par value; 490,000,000 shares authorized; 24,897,199 shares issued and outstanding at August 31, 2013; 24,549,029 shares issued and outstanding at August 31, 2012. | 248 | 245 |
Additional paid-in capital | 308,038 | 304,672 |
Accumulated other comprehensive loss | -696 | -283 |
Accumulated deficit | -274,584 | -242,073 |
Total stockholders' equity | 33,006 | 62,561 |
Total liabilities and stockholders' equity | $37,178 | $69,247 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
Consolidated Balance Sheets [Abstract] | ' | ' |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, shares authorized | 490,000,000 | 490,000,000 |
Common Stock, shares issued | 24,897,199 | 24,549,029 |
Common Stock, shares outstanding | 24,897,199 | 24,549,029 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Revenues: | ' | ' | ' |
Product sales | $462 | $432 | $116 |
Collaborative research and government grants | 4,781 | 4,939 | 6,500 |
Total revenues | 5,243 | 5,371 | 6,616 |
Cost and operating expenses: | ' | ' | ' |
Cost of product sales | 6,245 | 2,384 | 2,492 |
Research and development | 16,401 | 19,155 | 19,014 |
Selling, general and administrative | 15,187 | 12,634 | 10,008 |
Total cost and operating expenses | 37,833 | 34,173 | 31,514 |
Loss from operations | -32,590 | -28,802 | -24,898 |
Interest expense | -46 | -560 | -456 |
Interest income | 126 | 39 | 7 |
Other expense | ' | -84 | -11,020 |
Loss before income taxes | -32,510 | -29,407 | -36,367 |
Income tax (expense) benefit | -1 | -3 | 31 |
Net Loss | ($32,511) | ($29,410) | ($36,336) |
Basic and diluted net loss per share attributable to common stockholders | ($1.31) | ($2.18) | ($18.34) |
Weighted average outstanding common shares used for net loss per share attributable to common stockholders: | ' | ' | ' |
Basic and diluted | 24,796,030 | 13,488,336 | 1,981,627 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Consolidated Statements of Comprehensive Loss [Abstract] | ' | ' | ' |
Net loss | ($32,511) | ($29,410) | ($36,336) |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation adjustments | -395 | -262 | -27 |
Net unrealized (loss) gain on marketable securities | -18 | 6 | ' |
Total comprehensive loss | ($32,924) | ($29,666) | ($36,363) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (Deficit) (USD $) | Total | Convertible Preferred Stock [Member] | Convertible Subordinated Note [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] |
In Thousands, except Share data | Convertible Preferred Stock [Member] | Convertible Subordinated Note [Member] | Convertible Preferred Stock [Member] | Convertible Subordinated Note [Member] | Convertible Preferred Stock [Member] | Convertible Subordinated Note [Member] | Convertible Preferred Stock [Member] | Convertible Subordinated Note [Member] | |||||||
Balance at Aug. 31, 2010 | ($170,829) | ' | ' | $19 | ' | ' | $5,479 | ' | ' | ' | ' | ' | ($176,327) | ' | ' |
Balance (in shares) at Aug. 31, 2010 | ' | ' | ' | 1,948,042 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of common stock options (in shares) | ' | ' | ' | 66,126 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of common stock options | 164 | ' | ' | 1 | ' | ' | 163 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense | 2,710 | ' | ' | ' | ' | ' | 2,710 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -36,336 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -36,336 | ' | ' |
Foreign currency translation adjustment | -27 | ' | ' | ' | ' | ' | ' | ' | ' | -27 | ' | ' | ' | ' | ' |
Balance at Aug. 31, 2011 | -204,318 | ' | ' | 20 | ' | ' | 8,352 | ' | ' | -27 | ' | ' | -212,663 | ' | ' |
Balance (in shares) at Aug. 31, 2011 | ' | ' | ' | 2,014,168 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of common stock options (in shares) | 298,282 | ' | ' | 298,282 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of common stock options | 538 | ' | ' | 3 | ' | ' | 535 | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued upon IPO, net of offering costs (in shares) | ' | ' | ' | 5,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued upon IPO, net of offering costs | 65,158 | ' | ' | 58 | ' | ' | 65,100 | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of convertible stock upon IPO (in shares) | ' | ' | ' | ' | 15,353,221 | 1,098,575 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of convertible stock upon IPO | ' | 197,502 | 14,282 | ' | 153 | 11 | ' | 197,349 | 14,271 | ' | ' | ' | ' | ' | ' |
Cancellation of common stock (in shares) | ' | ' | ' | -5,817 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancellation of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock issued (in shares) | ' | ' | ' | 45,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock cancelled (in shares) | ' | ' | ' | -4,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock cancelled | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of liability classified warrants to equity classified warrants upon IPO | 17,158 | ' | ' | ' | ' | ' | 17,158 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense | 1,909 | ' | ' | ' | ' | ' | 1,909 | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of reverse stock split | -2 | ' | ' | ' | ' | ' | -2 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -29,410 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -29,410 | ' | ' |
Foreign currency translation adjustment | -262 | ' | ' | ' | ' | ' | ' | ' | ' | -262 | ' | ' | ' | ' | ' |
Unrealized gain on marketable securities | 6 | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' |
Balance at Aug. 31, 2012 | 62,561 | ' | ' | 245 | ' | ' | 304,672 | ' | ' | -283 | ' | ' | -242,073 | ' | ' |
Balance (in shares) at Aug. 31, 2012 | ' | ' | ' | 24,549,029 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of common stock options (in shares) | 23,832 | ' | ' | 23,832 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of common stock options | 56 | ' | ' | ' | ' | ' | 56 | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock issued (in shares) | ' | ' | ' | 348,375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock issued | 3 | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock cancelled (in shares) | ' | ' | ' | -24,037 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock cancelled | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense | 3,310 | ' | ' | ' | ' | ' | 3,310 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -32,511 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -32,511 | ' | ' |
Foreign currency translation adjustment | -395 | ' | ' | ' | ' | ' | ' | ' | ' | -395 | ' | ' | ' | ' | ' |
Unrealized gain on marketable securities | -18 | ' | ' | ' | ' | ' | ' | ' | ' | -18 | ' | ' | ' | ' | ' |
Balance at Aug. 31, 2013 | $33,006 | ' | ' | $248 | ' | ' | $308,038 | ' | ' | ($696) | ' | ' | ($274,584) | ' | ' |
Balance (in shares) at Aug. 31, 2013 | ' | ' | ' | 24,897,199 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net loss | ($32,511) | ($29,410) | ($36,336) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Change in fair value of common and preferred stock warrants and convertible notes | ' | 84 | -818 |
Charge on issuance of convertible notes | ' | ' | 2,205 |
Charge for modification of liability classified warrants | ' | ' | 9,633 |
Impairment of assets, net of insurance proceeds | 2 | 26 | ' |
Net loss on disposal of assets | 109 | 30 | 42 |
Depreciation | 1,912 | 2,059 | 2,075 |
Amortization of premiums on marketable securities | 572 | ' | ' |
Stock compensation | 3,310 | 1,909 | 2,710 |
Other | 130 | ' | ' |
Changes in operating assets and liabilities: | ' | ' | ' |
Prepaid expenses | 337 | -419 | 44 |
Accounts receivable | -195 | 527 | -96 |
Inventories | 679 | -841 | ' |
Deferred offering costs | ' | 2,775 | -2,775 |
Other assets | 26 | 59 | -83 |
Accounts payables and accrued expenses | -1,517 | -1,827 | 3,197 |
Deferred revenue | -701 | -223 | 247 |
Deferred rent | -8 | -61 | -52 |
Net cash used in operating activities | -27,855 | -25,312 | -20,007 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property and equipment | -892 | -1,265 | -548 |
Proceeds from sale of property and equipment | ' | ' | 112 |
Proceeds from insurance | ' | 1,000 | ' |
Change in restricted cash and investments | ' | 3,000 | ' |
Purchase of marketable securities (at cost) | -15,944 | -39,278 | ' |
Maturities of marketable securities | 32,879 | ' | ' |
Net cash provided by (used in) investing activities | 16,043 | -36,543 | -436 |
Cash flows from financing activities: | ' | ' | ' |
Principal payments on debt | -240 | -6,921 | -2,263 |
Proceeds from issuance of convertible notes | ' | ' | 11,425 |
Proceeds from issuance of debt and preferred stock warrants | ' | 2,500 | ' |
Proceeds from issuance of common stock | 60 | 538 | 164 |
Proceeds from issuance of common stock upon IPO, net of underwriters discounts and commission | ' | 65,158 | ' |
Net cash (used in) provided by financing activities | -180 | 61,275 | 9,326 |
Effect of foreign currency translation on cash | -196 | -262 | -27 |
Net (decrease) increase in cash and cash equivalents | -12,188 | -842 | -11,144 |
Cash and cash equivalents at beginning of period | 21,069 | 21,911 | 33,055 |
Cash and cash equivalents at end of period | 8,881 | 21,069 | 21,911 |
Supplemental cash flow information: | ' | ' | ' |
Interest paid during the year | 1 | 376 | 373 |
Income taxes paid during the year | 1 | 3 | 1 |
Supplemental schedule of non-cash investing and financing activities: | ' | ' | ' |
Additions to property and equipment under capital leases | 263 | 489 | ' |
Acquisitions of assets under accounts payable & accrued expenses | ' | 330 | ' |
Accrued deferred offering costs | ' | ' | 1,965 |
Surrender of common stock applied to stock option exercise | ' | 90 | ' |
Detail of IPO transactions; | ' | ' | ' |
Conversion of convertible notes to common stock | ' | 14,282 | ' |
Conversion of convertible preferred stock to common stock | ' | 197,502 | ' |
Conversion of liability classified warrants to equity classified warrants | ' | 17,158 | ' |
Total non-cash IPO transactions | ' | $228,942 | ' |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||||||
(1) Summary of Significant Accounting Policies | |||||||||||||||||
Description of Business | |||||||||||||||||
Ceres, Inc. (Company) is an agricultural biotechnology company selling seeds to produce dedicated energy crops - renewable bioenergy feedstocks that can enable the large-scale replacement of petroleum and other fossil fuels. The Company uses a combination of advanced plant breeding and biotechnology to develop seed products. | |||||||||||||||||
In January 2010, the Company incorporated a subsidiary, Ceres Sementes do Brasil Ltda. The Company's ownership in this subsidiary is 99.9% and the Company's Chief Executive Officer owns the remaining interest. | |||||||||||||||||
On January 24, 2012, the Company filed an amended and restated certificate of incorporation which effected a 1 for 3 reverse stock split of the Company's issued and outstanding shares of common stock. The par value of the common stock was not adjusted as a result of the reverse stock split. All issued and outstanding shares of common stock and stock options and per share amounts contained in the Company's consolidated financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented. | |||||||||||||||||
On February 27, 2012, the Company closed its initial public offering (IPO) of 5,750,000 shares of common stock (including 750,000 shares purchased by the underwriters upon the exercise of their option to purchase up to an additional 750,000 shares) at an offering price of $13.00 per share, resulting in net proceeds to the Company of approximately $65,158, after deducting underwriting discounts and commissions and offering expenses. Upon closing of the IPO, all of the Company's outstanding shares of convertible preferred stock were automatically converted into 15,353,221 shares of common stock, all of the Company's outstanding convertible subordinated notes (Convertible Notes) were automatically converted into 1,098,575 shares of common stock and all of the Company's outstanding convertible preferred stock warrants were automatically converted into warrants to purchase a total of 20,511 shares of common stock. | |||||||||||||||||
Liquidity | |||||||||||||||||
The Company has incurred substantial net losses from operations since its inception, including net losses of $32,511, $29,410 and $36,336 for the years ended August 31, 2013, 2012, and 2011, respectively. As of August 31, 2013 the Company had an accumulated deficit of $274,584. | |||||||||||||||||
Management has taken certain actions subsequent to August 31, 2013 to extend the Company's available working capital. The Company expects to incur additional losses related to the continued development and expansion of its business, including research and development, seed production and operations, and sales and marketing. The Company plans to finance its operations for the next 12 to 15 months with cash and investments currently on hand, with cash inflows from collaboration and grant funding and from product sales. There is no assurance that the Company will achieve profitable operations, or if achieved, that profitable operations can be sustained on a continued basis. | |||||||||||||||||
Management believes that the Company's cash and cash equivalents and marketable securities at August 31, 2013 are sufficient to fund operations for the next 12 months. | |||||||||||||||||
Basis of Presentation | |||||||||||||||||
The accompanying consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (GAAP) and with the Rules and Regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of the Company and its subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. | |||||||||||||||||
Use of Estimates | |||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. This affects the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include the valuation of property and equipment, inventory, deferred tax assets, common stock, convertible preferred stock, stock options, warrant liabilities and convertible notes. Actual results could differ from those estimates. | |||||||||||||||||
Cash Equivalents | |||||||||||||||||
The Company considers all highly liquid investments, with an original maturity of three months or less when purchased, to be cash equivalents. Cash equivalents totaled $8,881 and $16,769 at August 31, 2013 and 2012, respectively. | |||||||||||||||||
Marketable Securities | |||||||||||||||||
Marketable securities are classified as available for sale and are recorded at fair value, with the unrealized gains and losses, if any, net of taxes, reported as a component of shareholders' equity until realized or until a determination is made that an other-than-temporary decline in market value has occurred. | |||||||||||||||||
In determining whether an other-than-temporary impairment exists for debt securities, management considers: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management has determined that there has been no other-than-temporary impairment of its marketable securities. | |||||||||||||||||
The cost of marketable securities sold is based upon the specific identification method and any realized gains or losses on the sale of investments are reflected as a component of interest income or expense. There were no sales of marketable securities during the years ended August 31, 2013 and 2012. | |||||||||||||||||
The Company classifies marketable securities as current or non-current based upon whether such assets are reasonably expected to be realized in cash or sold or consumed during the normal operating cycle of the business. | |||||||||||||||||
Financial Instruments | |||||||||||||||||
The carrying value of financial instruments such as cash and cash equivalents, accounts receivables, accounts payable, and accrued expenses approximate their fair value due to the short-term nature of these instruments. At each period end, the fair value of the long-term debt approximated carrying value based on interest rates currently available to the Company. | |||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
Assets and liabilities recorded at fair value in the consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels that are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows: | |||||||||||||||||
• | Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date. | ||||||||||||||||
• | Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. | ||||||||||||||||
• | Level 3 inputs are unobservable inputs for the asset or liability. | ||||||||||||||||
The following tables present the Company's financial assets that were measured at fair value on a recurring basis as of August 31, 2013 and 2012 by level within the fair value hierarchy: | |||||||||||||||||
August 31, 2013 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Financial Assets | |||||||||||||||||
Money market funds | $ | 2,310 | $ | - | $ | - | $ | 2,310 | |||||||||
Certificates of deposit - available for sale | - | 4,555 | - | 4,555 | |||||||||||||
Commercial paper - available for sale | - | 2,198 | - | 2,198 | |||||||||||||
Corporate bonds - available for sale | - | 16,076 | - | 16,076 | |||||||||||||
Total | $ | 2,310 | $ | 22,829 | $ | - | $ | 25,139 | |||||||||
All of the money market funds and $1,199 of the commercial paper are included in cash and cash equivalents on the consolidated balance sheets. | |||||||||||||||||
August 31, 2012 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Financial Assets | |||||||||||||||||
Money market funds | $ | 16,769 | $ | - | $ | - | $ | 16,769 | |||||||||
Commercial paper - available for sale | - | 10,187 | - | 10,187 | |||||||||||||
Corporate bonds - available for sale | - | 29,098 | - | 29,098 | |||||||||||||
Total | $ | 16,769 | $ | 39,285 | $ | - | $ | 56,054 | |||||||||
All of the money market funds are included in cash and cash equivalents on the consolidated balance sheets. | |||||||||||||||||
Accounts Receivable | |||||||||||||||||
Accounts receivable represents amounts owed to the Company from product sales and collaborative research and government grants. The Company had no amounts reserved for doubtful accounts at August 31, 2013 and 2012 as the Company expected full collection of the accounts receivable balances. | |||||||||||||||||
Customers representing greater than 10% of accounts receivable were as follows (in percentages): | |||||||||||||||||
As of | |||||||||||||||||
August 31, | |||||||||||||||||
Customers | 2013 | 2012 | |||||||||||||||
Customer A | 37.3 | 47.9 | |||||||||||||||
Customer B | 23.1 | * | |||||||||||||||
Customer D | ** | 13.6 | |||||||||||||||
Customer E | * | 15.2 | |||||||||||||||
Customer F | 21.8 | ** | |||||||||||||||
* | Less than 10% | ||||||||||||||||
** | No balance | ||||||||||||||||
Customers representing greater than 10% of revenues were as follows (in percentages): | |||||||||||||||||
Year Ended August 31, | |||||||||||||||||
Customers | 2013 | 2012 | 2011 | ||||||||||||||
Customer A | 21.2 | 24.7 | 20.5 | ||||||||||||||
Customer B | 20.2 | 16.8 | 16.6 | ||||||||||||||
Customer C | ** | * | 20.9 | ||||||||||||||
Customer D | 14.5 | 17.4 | 25.4 | ||||||||||||||
Customer F | 22.5 | 14 | * | ||||||||||||||
* | Less than 10% | ||||||||||||||||
** | No revenue | ||||||||||||||||
Property and Equipment | |||||||||||||||||
Property and equipment is stated at cost. Depreciation is provided using the straight-line method over the shorter of the estimated useful lives or the remaining life of the lease. Depreciation periods for the Company's property and equipment are as follows: | |||||||||||||||||
Automobiles and trucks | 3-5 years | ||||||||||||||||
Office, laboratory, farm and warehouse equipment and furniture | 3-5 years | ||||||||||||||||
Leasehold improvements | 3-10 years | ||||||||||||||||
Buildings | 14-39 years | ||||||||||||||||
Impairment of Long-Lived Assets | |||||||||||||||||
Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. To the extent that an impairment indicator has occurred, recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. In fiscal years 2013 and 2012 there was an indicator that impairment has occurred. However, there was no impairment as the carrying amount of the property and equipment did not exceed the fair value of such assets. | |||||||||||||||||
On February 3, 2012, the Company's plant breeding and field research station located near College Station, Texas was damaged by a tornado. The impact was limited to structural damage to the building that houses office space and a small laboratory used to evaluate biomass samples and work space. A small greenhouse and tractor sheds, and some agricultural equipment were also damaged. | |||||||||||||||||
In fiscal year 2012, the Company impaired $1,026 in assets related to damage at the Texas facility and received insurance proceeds of $1,000 for repair costs. The remainder of the repairs, which totaled approximately $150, were completed by November 30, 2012. These remaining repairs were also covered by insurance, subject to the Company's deductible. | |||||||||||||||||
Common and Convertible Preferred Stock Warrant Liabilities | |||||||||||||||||
Prior to the closing of the IPO, the Company determined that common stock warrants issued to certain holders of convertible preferred stock were not considered indexed to the Company's common stock and therefore required liability classification. In addition, the Company accounted for its warrants to purchase shares of the Company's convertible preferred stock that were contingently redeemable as liabilities at fair value on the consolidated balance sheets. These common and convertible preferred stock warrants were subject to re-measurement at each balance sheet date and the changes in fair value, if any, were recognized as other (expense) income. | |||||||||||||||||
Upon the closing of the IPO, certain common and convertible preferred stock warrants, previously classified as liabilities were revalued and reclassified to additional paid-in capital as they no longer met the requirements for liability classification given the automatic conversion of the convertible preferred stock to common stock upon consummation of the IPO. | |||||||||||||||||
Convertible Preferred Stock | |||||||||||||||||
In connection with the Company's decision to file a registration statement with the Securities and Exchange Commission for the IPO, the Company adopted the provisions of Accounting Standards Codification (ASC) Topic 480-10-S99-3A, Classification and Measurement of Redeemable Securities. | |||||||||||||||||
The convertible preferred stock was not redeemable by the Company or at the option of the preferred stockholders. The holders of the Company's outstanding convertible preferred stock, voting or consenting together as a separate class, controlled the vote of the Company's stockholders. As a result, the holders of all series of the Company's convertible preferred stock could vote to approve a change in control under circumstances that would trigger a deemed liquidation under the Company's certificate of incorporation in effect prior to the IPO. As redemption of the convertible preferred stock through a deemed liquidation was outside the control of the Company, all shares of convertible preferred stock were classified as temporary equity rather than as a component of stockholders' equity in the Company's consolidated balance sheets. The carrying value of convertible preferred stock was recorded at its fair value at the date of issue. As discussed in Note (1), all of the outstanding shares of convertible preferred stock were automatically converted into shares of common stock upon the closing of the IPO. | |||||||||||||||||
Stock-Based Compensation | |||||||||||||||||
The Company accounts for stock-based compensation arrangements with employees using a fair value method under ASC Topic 718, Compensation - Stock Compensation, which requires the recognition of compensation expense for costs related to all stock-based payments including stock options and restricted stock awards. | |||||||||||||||||
The fair value method requires the Company to estimate the fair value of stock-based payment awards on the date of grant using an option pricing model. The Company uses an option pricing model to estimate the fair value of stock options granted that are expensed on a straight-line basis over the vesting period. The Company accounts for stock options issued to non-employees based on the estimated fair value of the awards using the option pricing model. The measurement of stock-based compensation to non-employees is subject to periodic adjustments as the underlying equity instruments vest, and the resulting change in value, if any, is recognized in the Company's consolidated statements of operations during the period the related services are rendered. | |||||||||||||||||
The Company accounts for restricted stock awards based on the quoted market price of the Company's common stock on the date of grant that are expensed on a straight-line basis over the vesting period. | |||||||||||||||||
Revenue Recognition | |||||||||||||||||
Revenues are recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) transfer of product or technology has been completed or services have been rendered; (3) the fee is fixed or determinable; and (4) collectability is reasonably assured. To date, the Company's primary source of revenues has been derived from collaborative research agreements and government grants and to a lesser extent, product sales. | |||||||||||||||||
Product Sales | |||||||||||||||||
Product sales are derived from sales of seeds, trait fees, crop management services and biomass that was delivered under certain of our sales incentive and performance based programs for the 2012-2013 growing season in Brazil. Product sales are recognized, net of discounts and allowances, once passage of title and risk of loss have occurred and contractually specified acceptance criteria have been met, provided all other revenue recognition criteria have also been met. To date, product sales have not been significant. | |||||||||||||||||
Collaborative Research and Government Grants | |||||||||||||||||
From time to time, the Company enters into research and development collaboration agreements with third parties including several biofuel producers and government agencies such as the Department of Energy (DOE) and the United States Department of Agriculture (USDA). The research and development collaboration agreements typically provide the Company with multiple revenue streams, which may include up-front, non-refundable fees for licensing certain of the Company's technologies, government grants and fees for research and development activities, and contingent milestone payments based upon achievement of contractual criteria. | |||||||||||||||||
• | Technology License Fees - For collaboration agreements in which the Company has continuing involvement, license fees are recognized on a straight-line basis over the term of the arrangement. Licensing fees are non-refundable and not subject to future performance. | ||||||||||||||||
• | Government Grants - The Company receives payments from government entities in the form of government grants. Government grants generally provide the Company with partial cost reimbursement for certain types of expenditures in return for research and development activities over a contractually defined period. Revenues from government grants are recognized in the period during which the related costs are incurred, provided that the conditions under which the government grants were provided have been met and the Company has only perfunctory obligations outstanding. | ||||||||||||||||
• | Research and Development Fees - Generally, fees for research and development activities are recognized as the services are performed over the performance period, as specified in the respective agreements. Certain of the Company's collaboration agreements require the Company to deliver research data by specific dates and that the collective program plan will result in reaching specific crop characteristics by certain dates. For such arrangements, the Company recognizes revenues based on the approximate percentage of completion of services under the agreement, but the revenue recognized cannot exceed payments received by the Company to date under the agreement. The research and development period is estimated at the inception of each agreement and is periodically evaluated. | ||||||||||||||||
• | Milestone Fees - Fees that are contingent based on achievement of substantive performance milestones at inception of the agreement are recognized based on the achievement of the milestone, as defined in the respective agreements. | ||||||||||||||||
Deferred Revenue | |||||||||||||||||
The Company recognizes deferred revenue to the extent that cash received under the collaboration agreement is in excess of the revenues recognized related to the agreement since the work under the agreement has not yet been performed at the time of cash receipt, which is classified as other current liabilities on the accompanying consolidated balance sheet. | |||||||||||||||||
On December 20, 2007, the Company and Campbell Soup Company (Campbell) entered into a development and license agreement under which the Company was working to improve yields of a food product. The agreement provided that the Company would receive $7,500 in payments from Campbell over a five-year period provided milestones were met. In addition, the agreement provided that the Company would be entitled to receive a royalty based on the gross sales of crop varieties created under the agreement. In December 2011, the development and license agreement was amended to extend the $7,500 in payments from Campbell over a six-year period. In November 2012, following Campbell's sale of its vegetable seed assets to a third party, the development and license agreement, as amended, was terminated and cancelled. In connection with the termination, Campbell paid the Company $550 in full and complete satisfaction of all remaining financial obligations. The Company recognized revenue of $758, $933 and $1,683 under this agreement in 2013, 2012 and 2011, respectively. | |||||||||||||||||
The Company has earned research funding revenues from several agreements with the DOE, the USDA, USAID and several leading bio-fuels producers whereby the Company performed research activities and received revenues that partially reimbursed its expenses incurred. Under such grants and agreements, the Company retained a proprietary interest in the products and technology it developed. These expense reimbursements primarily consisted of direct expense sharing arrangements. The Company recorded revenue related to these grants of approximately $2,355, $2,416 and $3,120 in 2013, 2012 and 2011, respectively. The cumulative remaining amount to be claimed for all grants and certain collaboration agreements outstanding as of August 31, 2013 is approximately $2,288. | |||||||||||||||||
On December 16, 2008, the Company and Syngenta Biotechnology, Inc. (Syngenta) entered into a software license and collaboration agreement pursuant to which the Company provided software, software development and customer support for certain research application-based software. The agreement was structured into three phases and under the agreement, the Company received $1,500 in payments over an approximate 4.5 year period. The software delivered is comprised of multiple elements, which include software, installation, training, customization of software, and software support. On April 16, 2012, the agreement was amended to reflect Syngenta's acceptance of all software and software support services provided under the original agreement and to allow for the continuation of certain software support services during a post development support period beginning April 16, 2012 and extending until all services are terminated pursuant to the terms of the agreement. The Company recognized revenues equal to the amount of expense recognized as services were rendered until April 15, 2012, when the software support became the only undelivered element. Beginning April 16, 2012, the unrecognized revenue under the agreement is being recognized ratably over the remaining software support period. The Company recognized revenues totaling $1,180, $750 and $243 under this agreement in 2013, 2012 and 2011, respectively. | |||||||||||||||||
Research and Development | |||||||||||||||||
Research and development expenses principally consist of personnel costs related to the Company's research and development staff as well as depreciation of research and development assets. Research and development expenses also include costs incurred for laboratory supplies, reimbursable costs associated with government grants and collaborative agreements, third-party contract payments, consultants, facility and related overhead costs. | |||||||||||||||||
Seed Inventories | |||||||||||||||||
At August 31, 2013, inventory consisted of work-in-process costs related to sweet sorghum seeds. At August 31, 2012, inventory consisted of work-in-process and finished good costs related to sweet sorghum seeds. Inventory costs are computed on a first-in, first-out basis and valued at the lower of cost or market with any excess cost recognized during the period within cost of product sales. At August 31, 2013, all seed inventory other than work-in-process was fully written off based on the lower of cost or market, based on on the Company's evaluation of such inventory. | |||||||||||||||||
Income Taxes | |||||||||||||||||
The Company accounts for income taxes in accordance with ASC 740, Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. | |||||||||||||||||
The Company accounts for unrecognized tax benefits also in accordance with ASC 740, Income Taxes, which prescribes a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. The minimum threshold is defined as a tax position that is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution to any related appeals or litigation, based solely on the technical merits of the position. The Company has no accrual for interest or penalties related to uncertain tax positions at August 31, 2013 and 2012, and did not recognize interest or penalties in the Statements of Operations during the years ended August 31, 2013, 2012 and 2011. | |||||||||||||||||
The major jurisdictions in which the Company files income tax returns include the federal and state jurisdictions within the United States and Brazil, where it has a subsidiary. The tax years after 2008 remain open to examination by federal and state taxing jurisdictions and the tax years after 2010 remain open to examination by foreign jurisdictions. However, the Company has NOLs beginning in 1998 which would cause the statute of limitations to remain open for the year in which the NOL was incurred. | |||||||||||||||||
Foreign Currency Translation | |||||||||||||||||
The Brazilian real is the functional currency of the Company's subsidiary in Brazil. Accordingly, assets and liabilities of those operations are translated into United States dollars using the current exchange rate in effect at the balance sheet date and equity accounts are translated into United States dollars using historical rates. Revenues and expenses are translated at the weighted average rate of exchange during the reporting period. Gains and losses from foreign currency translation adjustments are represented as a component of accumulated other comprehensive loss. | |||||||||||||||||
Accumulated Other Comprehensive Income | |||||||||||||||||
The Company's unrealized gains and losses on available-for-sale securities and foreign currency translation adjustments represents the components of comprehensive income (income) and have been disclosed in the consolidated statements of stockholders' equity (deficit). | |||||||||||||||||
The following summarizes the changes in the balances of each component of accumulated comprehensive income (loss) during the years presented: | |||||||||||||||||
Accumulated | |||||||||||||||||
Foreign | Unrealized | Other | |||||||||||||||
Currency | Gains (Losses) | Comprehensive | |||||||||||||||
Translation | on Securities | Loss | |||||||||||||||
Balance at August 31, 2011 | $ | (27 | ) | $ | - | $ | (27 | ) | |||||||||
Comprehensive (loss) gain | (262 | ) | 6 | (256 | ) | ||||||||||||
Balance at August 31, 2012 | (289 | ) | 6 | (283 | ) | ||||||||||||
Comprehensive loss | (395 | ) | (18 | ) | (413 | ) | |||||||||||
Balance at August 31, 2013 | $ | (684 | ) | $ | (12 | ) | $ | (696 | ) | ||||||||
Basic and Diluted Net Loss Per Share | |||||||||||||||||
Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares and dilutive potential common share equivalents then outstanding, to the extent they are dilutive. Potential common shares consist of shares issuable upon the exercise of stock options and warrants (using the treasury stock method), and the weighted average conversion of the convertible preferred stock into shares of common stock (using the if-converted method). Dilutive net loss per share is the same as basic net loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive. | |||||||||||||||||
The following table sets forth the computation of basic and diluted net loss per common share: | |||||||||||||||||
Year Ended | |||||||||||||||||
August 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Net loss | $ | (32,511 | ) | $ | (29,410 | ) | $ | (36,336 | ) | ||||||||
Basic and diluted net loss per common share | $ | (1.31 | ) | $ | (2.18 | ) | $ | (18.34 | ) | ||||||||
Basic and diluted weighted average outstanding common shares used for net loss | 24,796,030 | 13,488,336 | 1,981,627 | ||||||||||||||
The following potentially dilutive, common share equivalents were excluded from the calculation of diluted net loss per common share because their effect was anti-dilutive for each of the periods presented: | |||||||||||||||||
Year Ended | |||||||||||||||||
August 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Options to purchase common stock | 2,791,556 | 2,778,508 | 2,597,285 | ||||||||||||||
Warrants to purchase common stock | 2,082,045 | 2,082,045 | 1,994,868 | ||||||||||||||
Warrants to purchase convertible preferred stock | - | - | 20,511 | ||||||||||||||
Convertible preferred stock | - | - | 15,353,226 | ||||||||||||||
Convertible notes | - | - | 1,171,818 | ||||||||||||||
Total | 4,873,601 | 4,860,553 | 21,137,708 | ||||||||||||||
Segment and geographic information | |||||||||||||||||
Management has determined that it has one business activity and operates in one segment as it only reports financial information on an aggregate and consolidated basis to its Chief Executive Officer, who is the Company's chief operating decision maker. Geographic information regarding the Company's operations outside of North America is not significant for any period presented. | |||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||
In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 finalizes the requirements of ASU 2011-05 that ASU 2011-12 deferred, clarifying how to report the effect of significant reclassifications out of accumulated other comprehensive income. ASU 2013-02 is effective for reporting periods beginning after December 15, 2012 and is to be applied prospectively. The Company does not anticipate that the adoption of this ASU will materially change the presentation of its consolidated financial statements. | |||||||||||||||||
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 requires an entity to present an unrecognized tax benefit as a reduction of a deferred tax asset for a net operating loss (NOL) carryforward, or similar tax loss or tax credit carryforward, rather than as a liability when: (1) the uncertain tax position would reduce the NOL or other carryforward under the tax law of the applicable jurisdiction, and (2) the entity intends to use the deferred tax asset for that purpose. ASU 2013-11 changes existing presentation requirements but does not require new recurring disclosures and is effective for fiscal years, and the interim periods within those years, beginning after December 15, 2013. The Company does not anticipate that the adoption of this ASU will materially change the presentation of its consolidated financial statements. | |||||||||||||||||
Marketable_Securities
Marketable Securities | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Marketable Securities [Abstract] | ' | ||||||||||||||||
Marketable Securities | ' | ||||||||||||||||
(2) Marketable Securities | |||||||||||||||||
Marketable securities classified as available for sale consisted of the following: | |||||||||||||||||
August 31, 2013 | |||||||||||||||||
Gross | Gross | ||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||
Available for sale securities | Cost | Gain | Loss | Fair Value | |||||||||||||
Certificates of Deposit | $ | 4,561 | $ | - | $ | (6 | ) | $ | 4,555 | ||||||||
Commercial Paper | 2,199 | - | (1 | ) | 2,198 | ||||||||||||
Corporate Bonds | 16,081 | 2 | (7 | ) | 16,076 | ||||||||||||
Total | $ | 22,841 | $ | 2 | $ | (14 | ) | $ | 22,829 | ||||||||
$1,199 of the commercial paper is included in the cash and cash equivalents on the consolidated balance sheets. | |||||||||||||||||
August 31, 2012 | |||||||||||||||||
Gross | Gross | ||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||
Available for sale securities | Cost | Gain | Loss | Fair Value | |||||||||||||
Commercial Paper | $ | 10,187 | $ | 2 | $ | (2 | ) | $ | 10,187 | ||||||||
Corporate Bonds | 29,092 | 17 | (11 | ) | 29,098 | ||||||||||||
Total | $ | 39,279 | $ | 19 | $ | (13 | ) | $ | 39,285 | ||||||||
There were no marketable securities classified as held-to maturity as of August 31, 2013 and 2012, respectively. | |||||||||||||||||
The following tables summarize the amortized cost and fair value of the Company's marketable securities, classified by stated maturity as of August 31, 2013 and 2012: | |||||||||||||||||
August 31, 2013 | |||||||||||||||||
Amortized Cost | Fair Value | ||||||||||||||||
Marketable securities | |||||||||||||||||
Due in 1 year or less | $ | 22,841 | $ | 22,829 | |||||||||||||
Due in 1 - 2 years | - | - | |||||||||||||||
$ | 22,841 | $ | 22,829 | ||||||||||||||
31-Aug-12 | |||||||||||||||||
Amortized | |||||||||||||||||
Cost | Fair Value | ||||||||||||||||
Marketable securities | |||||||||||||||||
Due in 1 year or less | $ | 33,567 | $ | 33,565 | |||||||||||||
Due in 1 - 2 years | 5,712 | 5,720 | |||||||||||||||
$ | 39,279 | $ | 39,285 | ||||||||||||||
Inventories
Inventories | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Inventories [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
(3) Inventories | |||||||||
Inventories consisted of the following: | |||||||||
August 31, | August 31, | ||||||||
2013 | 2012 | ||||||||
Work in process | $ | 20 | $ | 264 | |||||
Seed inventory | - | 577 | |||||||
Total inventories | $ | 20 | $ | 841 | |||||
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Property and Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
(4) Property and Equipment | |||||||||
Property and equipment are summarized as follows: | |||||||||
As of | |||||||||
August 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 43 | $ | 43 | |||||
Automobiles and trucks | 796 | 728 | |||||||
Buildings | 3,180 | 3,252 | |||||||
Office, laboratory, farm and warehouse equipment and furniture | 14,792 | 15,552 | |||||||
Leasehold improvements | 5,716 | 5,709 | |||||||
24,527 | 25,284 | ||||||||
Less accumulated depreciation | (19,894 | ) | (19,528 | ) | |||||
Property and equipment, net | $ | 4,633 | $ | 5,756 | |||||
Accounts_Payable_and_Accrued_E
Accounts Payable and Accrued Expenses | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Accounts Payable and Accrued Expenses [Abstract] | ' | ||||||||
Accounts Payable and Accrued Expenses | ' | ||||||||
(5) Accounts Payable and Accrued Expenses | |||||||||
Accounts payable and accrued expenses consisted of the following: | |||||||||
As of | |||||||||
August 31, | |||||||||
2013 | 2012 | ||||||||
Accounts payable | $ | 1,289 | $ | 1,865 | |||||
Accrued payroll and related expenses | 1,020 | 2,530 | |||||||
Research and development contracts | 1,098 | 686 | |||||||
Accrued grower commitments | 38 | 76 | |||||||
Other | 380 | 319 | |||||||
$ | 3,825 | $ | 5,476 | ||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Long-Term Debt [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
(6) Long-Term Debt | |||||||||
Long-term debt is summarized as follows: | |||||||||
As of | |||||||||
August 31, | |||||||||
2013 | 2012 | ||||||||
Capital Leases | $ | 236 | S | 390 | |||||
236 | 390 | ||||||||
Less current portion | (154 | ) | (134 | ) | |||||
$ | 82 | $ | 256 | ||||||
The aggregated maturities of debt as of August 31, 2013 are as follows: | |||||||||
2014 | $ | 154 | |||||||
2015 | 73 | ||||||||
2016 | 9 | ||||||||
$ | 236 | ||||||||
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||||||||||
Stock-Based Compensation [Abstract] | ' | ||||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||||
(7) Stock-Based Compensation | |||||||||||||||||||||||||
Equity Plans | |||||||||||||||||||||||||
The Company has established three equity plans: the Ceres, Inc. 2000 Stock Option/Stock Issuance Plan (2000 Plan), the Ceres, Inc. 2010 Stock Option/Stock Issuance Plan (2010 Plan) and the Amended and Restated Ceres, Inc. 2011 Equity Incentive Plan (2011 Plan, and collectively with the 2000 Plan and the 2010 Plan, the Equity Plans). The Equity Plans provide for grants of Incentive Stock Options (ISOs) to employees and Nonqualified Stock Options (NSOs), stock and restricted stock to employees, directors, and consultants. In addition, the 2011 Plan provides for the grant of other equity based awards such as restricted stock units, stock appreciation rights and deferred stock to employees, directors and consultants. The option term, as determined by the Company's Board of Directors, may not exceed ten years. Vesting, also determined by the Company's Board of Directors, generally occurs ratably over four to five years. ISOs and NSOs may be granted at a price per share of not less than the fair market value at the date of grant. | |||||||||||||||||||||||||
During September 2012, the Company modified options to purchase 403,333 shares of common stock that were scheduled to expire on December 18, 2012 by extending the terms such that the options now expire on December 18, 2015. A modification charge of $157 was recorded in September 2012. | |||||||||||||||||||||||||
The total number of shares reserved for issuance under the Equity Plans is 6,754,999. At the Company's 2013 Annual Meeting of Stockholders, the stockholders approved the amendment and restatement of the Ceres, Inc. 2011 Equity Incentive Plan, which increased the maximum aggregate number of shares that may be issued under the plan by 1.5 million shares and prohibits the repricing of stock options without stockholder approval. As of August 31, 2013, the Company had 1,916,292 shares available under the 2011 Plan for future grant. The Company does not intend to make further grants under the 2000 Plan or the 2010 Plan. | |||||||||||||||||||||||||
Stock Option Valuation and Compensation | |||||||||||||||||||||||||
The Company uses a Black Scholes option pricing model to determine the fair value of stock options. The weighted average grant date fair value of stock option awards was $2.64, $10.40 and $8.16 per option share for 2013, 2012, and 2011, respectively. | |||||||||||||||||||||||||
The weighted average grant date estimated fair value of the Company's common stock was $3.63, $14.44 and $11.97 per share for 2013, 2012, and 2011, respectively. | |||||||||||||||||||||||||
The fair value of employee stock options was estimated using the following weighted-average assumptions: | |||||||||||||||||||||||||
Year ended | |||||||||||||||||||||||||
August 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Expected term (in years) | 5.50-6.08 | 5.50-6.46 | 6.08-6.46 | ||||||||||||||||||||||
Expected volatility | 87%-88 | % | 78%-81 | % | 70%-78 | % | |||||||||||||||||||
Risk free interest rate | 0.82%-1.96 | % | 0.88%-1.35 | % | 1.48%-2.44 | % | |||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||||||||||
Expected Term - Because of limited employee share option exercises, the Company uses a simplified method in which the expected term of an award is presumed to be mid-point between the vesting date and the expiration date of the award. The expected term for all employee option grants is an average of 3.06 years. | |||||||||||||||||||||||||
Expected Volatility - The Company estimates the volatility of its common stock by using the historical volatility of a group of comparable companies over the option's expected term. The decision to use historical volatility of comparable companies was based upon the fact there is limited history of trading activity of the Company's common stock. | |||||||||||||||||||||||||
Risk-Free Interest Rate - The Company bases the risk-free interest rate used in the option valuation model on U.S. Treasury zero-coupon issues with remaining terms similar to the expected term on the options. | |||||||||||||||||||||||||
Expected Dividend Yield - The Company does not anticipate paying any cash dividends in the foreseeable future. | |||||||||||||||||||||||||
Stock-based compensation expense included in operating expenses and total intrinsic value of stock options exercised are as follows: | |||||||||||||||||||||||||
Year ended | |||||||||||||||||||||||||
August 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Stock-based compensation costs for employee stock options | $ | 3,624 | $ | 2,464 | $ | 1,478 | |||||||||||||||||||
Fair value changes of collaboration warrants | (314 | ) | (555 | ) | 1,232 | ||||||||||||||||||||
Total stock-based compensation costs included in operating expenses | $ | 3,310 | $ | 1,909 | $ | 2,710 | |||||||||||||||||||
Intrinsic value of stock options exercised | $ | 79 | $ | 3,573 | $ | 632 | |||||||||||||||||||
Stock Option Activity | |||||||||||||||||||||||||
The following summarizes the stock option transactions under the Equity Plans during the periods presented: | |||||||||||||||||||||||||
Weighted | |||||||||||||||||||||||||
Average | |||||||||||||||||||||||||
Shares | Exercise Price | ||||||||||||||||||||||||
Options outstanding at August 31, 2011 | 2,597,285 | $ | 6.06 | ||||||||||||||||||||||
Options granted | 623,645 | 12.77 | |||||||||||||||||||||||
Options exercised | (298,282 | ) | 2.11 | ||||||||||||||||||||||
Options forfeited | (144,140 | ) | 7.34 | ||||||||||||||||||||||
Options outstanding at August 31, 2012 | 2,778,508 | 7.92 | |||||||||||||||||||||||
Options granted | 315,064 | 3.63 | |||||||||||||||||||||||
Options exercised | (23,832 | ) | 2.36 | ||||||||||||||||||||||
Options forfeited | (278,184 | ) | 7.87 | ||||||||||||||||||||||
Options outstanding at August 31, 2013 | 2,791,556 | $ | 7.49 | ||||||||||||||||||||||
The following table summarizes information about stock options outstanding and exercisable at August 31, 2013: | |||||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Remaining | Weighted- | Number | Remaining | Weighted- | |||||||||||||||||||||
Range of | Number | Contractual | Average | Vested and | Contractual | Average | |||||||||||||||||||
Exercise Price | Outstanding | Life | Exercise Price | Exercisable | Life | Exercise Price | |||||||||||||||||||
$1.95 | 415,331 | 2.26 | $ | 1.95 | 415,331 | 2.26 | $ | 1.95 | |||||||||||||||||
$3.90 - $4.05 | 301,492 | 2.5 | 3.91 | 301,492 | 2.5 | 3.91 | |||||||||||||||||||
$6.75 | 808,211 | 5.29 | 6.75 | 761,705 | 5.2 | 6.75 | |||||||||||||||||||
$7.32 | 192,940 | 7.29 | 7.32 | 127,585 | 7.29 | 7.32 | |||||||||||||||||||
$16.77 | 160,536 | 7.78 | 16.77 | 72,990 | 7.76 | 16.77 | |||||||||||||||||||
$17.16 | 79,028 | 7.88 | 17.16 | 33,951 | 7.88 | 17.16 | |||||||||||||||||||
$12.71 | 36,442 | 8.29 | 12.71 | 12,454 | 8.22 | 12.71 | |||||||||||||||||||
$12.10 | 46,664 | 8.49 | 12.1 | 46,664 | 8.49 | 12.1 | |||||||||||||||||||
$13.00 | 444,817 | 8.49 | 13 | - | - | - | |||||||||||||||||||
$8.97 | 750 | 8.8 | 8.97 | 225 | 8.8 | 8.97 | |||||||||||||||||||
$6.66 | 11,666 | 8.98 | 6.66 | - | - | - | |||||||||||||||||||
$3.60 - $7.70 | 25,350 | 9.03 | 5.7 | 12,300 | 8.86 | 7.7 | |||||||||||||||||||
$3.94 | 24,000 | 9.25 | 3.94 | - | - | - | |||||||||||||||||||
$3.32 | 64,163 | 9.42 | 3.32 | - | - | - | |||||||||||||||||||
$3.49 | 1,500 | 9.44 | 3.49 | - | - | - | |||||||||||||||||||
$1.40 - $3.30 | 178,666 | 9.81 | 3.18 | - | - | - | |||||||||||||||||||
2,791,556 | 1,784,697 | ||||||||||||||||||||||||
No tax benefits were recorded on compensation costs recognized during the year ended August 31, 2013. The tax benefit realized from options exercised during the year ended August 31, 2012 was $32. No tax benefits were recorded on compensation costs recognized for the year ended August 31, 2011. As of August 31, 2013 and 2012, there were $5,389 and $8,189 of total unrecognized compensation cost related to stock options respectively. That cost is expected to be recognized over a weighted average 3.06 years. The Company's policy is to issue new shares for options exercised. | |||||||||||||||||||||||||
Restricted Stock Activity | |||||||||||||||||||||||||
The following summarizes the restricted stock transactions under the Equity Plans for the periods presented: | |||||||||||||||||||||||||
Weighted | |||||||||||||||||||||||||
Average | |||||||||||||||||||||||||
Grant Date | |||||||||||||||||||||||||
Shares | Fair Value | ||||||||||||||||||||||||
Restricted stock outstanding and unvested at August 31, 2011 | 833 | $ | 6.51 | ||||||||||||||||||||||
Restricted stock granted | 45,100 | 12.16 | |||||||||||||||||||||||
Restricted stock vested | (833 | ) | 6.51 | ||||||||||||||||||||||
Restricted stock forfeited | (4,500 | ) | 12.71 | ||||||||||||||||||||||
Restricted stock outstanding and unvested at August 31, 2012 | 40,600 | 12.1 | |||||||||||||||||||||||
Restricted stock granted | 288,375 | 5.24 | |||||||||||||||||||||||
Restricted stock vested | (19,100 | ) | 11.42 | ||||||||||||||||||||||
Restricted stock forfeited | (19,175 | ) | 8.81 | ||||||||||||||||||||||
Restricted stock outstanding and unvested at August 31, 2013 | 290,700 | $ | 5.55 | ||||||||||||||||||||||
As of August 31, 2013, there was $1,064 of total unrecognized compensation cost related to restricted stock awards. That cost is expected to be recognized over a weighted average of 2.09 years. | |||||||||||||||||||||||||
Stock Activity | |||||||||||||||||||||||||
During June 2013, the Company granted 60,000 shares of common stock under the 2011 Plan with a fair market value of $3.33 per share. The Company recorded $200 of expense in the year ended August 31, 2013 related to this stock grant | |||||||||||||||||||||||||
Convertible_Notes_and_Warrant_
Convertible Notes and Warrant Modification | 12 Months Ended |
Aug. 31, 2013 | |
Convertible Notes and Warrant Modification [Abstract] | ' |
Convertible Notes and Warrant Modification | ' |
(8) Convertible Notes and Warrant Modification | |
In August 2011, the Company completed the sale of $11,425 aggregate principal amount of the Convertible Notes to nine existing investors in the Company in a private placement. The Convertible Notes were convertible, subject to the terms and conditions set forth therein, into shares of the Company's common stock upon the consummation of a qualified initial public offering of the Company's common stock at a price per share equal to 20% discount from the public offering price, or $10.40. Purchasers of the Convertible Notes included holders of more than 5% of the Company's outstanding capital stock and affiliates of certain of the Company's directors. Additionally, so long as any investors who held warrants to purchase shares of the Company's common stock issued in connection with certain of the Company's preferred stock financings purchased at least their respective full pro rata portion of the Convertible Notes being offered, the Company agreed to amend the termination provisions of such investors existing warrants such that the warrants no longer expired upon the IPO. In January 2012, the Company amended the Convertible Notes such that the notes would have automatically converted into shares of convertible preferred stock had the initial public offering not consummated by June 30, 2012. | |
In connection with the offering of the Convertible Notes, warrants to purchase 539,972 shares of common stock issued in connection with the Company's Series F Preferred Stock offering, or the Modified F warrants and all of the warrants issued in connection with the Company's Series G Preferred Stock offering were amended such that they would not expire upon the consummation of a qualified initial public offering. Warrants to purchase 229,257 shares of common stock issued in connection with the Series F Preferred Stock offering, or the Non-Modified F warrants were not amended and remain outstanding. | |
The Company calculated the fair value of the modified warrants immediately prior to and subsequent to the modification and determined that the cumulative incremental increase in the fair value of these liability classified warrants associated with this modification to be $9,633. Accordingly, the Company recorded the change in value to other income (expense) in August 2011. | |
Until such time as the conversion features were triggered, the Company accounted for the Convertible Notes and various embedded derivatives in accordance with ASC 825-10, the Fair Value Option for Financial Liabilities, whereby the Company initially and subsequently measured this financial instrument in its entirety at fair value, with the changes in fair value recorded each quarterly reporting period in other income (expense). | |
The Company obtained the assistance of a third-party valuation firm in estimating that the fair market value of the Convertible Notes as if August 31, 2011 was $13,630. The Company estimated the fair value of the Convertible Notes upon the closing of the IPO to be $14,282. Accordingly, the change in fair value was recorded in other income (expense). | |
Upon closing of the IPO, the Convertible Notes were revalued and converted into 1,098,575 shares of common stock (see Note (9)) | |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | ||
Aug. 31, 2013 | |||
Stockholders' Equity [Abstract] | ' | ||
Stockholders' Equity | ' | ||
(9) Stockholders' Equity | |||
Initial Public Offering | |||
Upon closing of the IPO (see Note (1)): | |||
• | the Company's outstanding shares of convertible preferred stock were automatically converted into 15,353,221 shares of common stock; | ||
• | the Convertible Notes were revalued and converted into 1,098,575 shares of common stock; and | ||
• | the outstanding convertible preferred stock warrants were revalued and automatically converted into warrants to purchase a total of 20,511 shares of common stock. | ||
Common Stock | |||
Pursuant to the Company's amended and restated certificate of incorporation, the Company is authorized to issue 490,000,000 shares of common stock. Holders of the Company's common stock are entitled to dividends as and when declared by the Board of Directors, subject to rights and holders of all classes of stock outstanding having priority rights to dividends. There have been no dividends declared to date. Each share of common stock is entitled to one vote. | |||
Preferred Stock | |||
Pursuant to the Company's amended and restated certificate of incorporation, the Company is authorized to issue 10,000,000 shares of preferred stock. The Board of Directors has the authority, without action by the Company's stockholders, to designate and issue shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof. | |||
Common and Preferred Stock Warrants Financing | |||
Warrants issued in connection with Series F Convertible Preferred Stock Financing | |||
In connection with the issuance of the Series F Convertible Preferred Stock in September 2007, the Company issued warrants to purchase 769,229 shares of common stock at an exercise price of $19.50 per share. The warrants are immediately exercisable. | |||
As discussed in Note (1), the common stock warrants issued to the holders of Series F Convertible Preferred Stock were reported as a liability at fair value as of each balance sheet date. Upon closing of the IPO, the common stock warrants no longer met the requirements for liability classification. The warrants were revalued as of the closing date and reclassified to additional paid-in capital. | |||
Upon closing of the IPO, the Company estimated the fair value of certain warrants (Non-Modified F warrants and Modified F warrants) to be $6,301 based on a risk free rate of 0.40%, expected volatility of 89%, expected term of 3.5 years and 0% dividend yield. | |||
Warrants issued in connection with Series G Convertible Preferred Stock Financing | |||
In connection with the issuance of the Series G Convertible Preferred Stock in June 2010, the Company issued warrants to purchase 1,025,640 shares of common stock at an exercise price of $19.50 per share. The warrants are immediately exercisable. | |||
As discussed in Note (1), the common stock warrants issued to the holders of Series G Convertible Preferred Stock were reported as a liability at fair value as of each balance sheet date. Upon closing of the IPO, the common stock warrants no longer met the requirements for liability classification. The warrants were revalued as of the closing date and reclassified to additional paid-in capital. | |||
Upon closing of the IPO, the Company estimated the fair value of these warrants to be $10,633 based on a risk free rate of 1.64%, expected volatility of 73%, expected term of 8.3 years and 0% dividend yield. | |||
Warrants issued in connection with Borrowing and Loan Agreements | |||
In July 2004, in connection with a borrowing agreement (Borrowing Agreement) entered into with the Bank, the Company issued the Bank warrants to purchase 18,461 shares of the Company's Series E Convertible Preferred Stock. Upon closing of the IPO, these preferred stock warrants were converted into warrants to purchase 6,153 shares of common stock at $19.50 per share. | |||
In February 2010, in connection with the Loan Agreement (see Note (6)), the Company issued the Bank warrants to purchase 43,076 shares of the Company's Series F Convertible Preferred Stock. Upon closing of the IPO, these preferred stock warrants were converted into warrants to purchase 14,358 shares of common stock at $19.50 per share. | |||
As discussed in Note (1), the preferred stock warrants issued in connection with the Borrowing Agreement and the Loan Agreement were reported as a liability at fair value as of each balance sheet date. Upon closing of the IPO, these preferred stock warrants no longer met the requirements for liability classification. These preferred stock warrants were revalued as of the closing date and reclassified to additional paid-in capital. | |||
Upon closing of the IPO, the Company estimated the fair value of the Series E and F preferred stock warrants to be $68 and $158, respectively, based on a risk-free interest rate of 1.35%, volatility of 81%, expected term of 7.96 - 8.01 years, and 0% dividend yield. | |||
Warrants issued in connection with Noble Agreement | |||
In May 2006, the Company entered into a collaboration agreement with The Samuel Roberts Noble Foundation, Inc. (Noble) (Noble Agreement) to establish a research program (see Note (13)). In connection with this collaboration, the Company granted Noble a warrant to purchase 133,333 shares of the Company's common stock for an exercise price of $30.00 per share. The original terms were as follows: the warrant vests in equal installments of 33,333 shares on May 19, 2009, May 19, 2011, May 19, 2013, and May 19, 2015, respectively, and shall remain exercisable for a period of two years from the respective vesting dates. These warrants are accounted for at fair value and remeasured until vested. The fair value, including the resulting change in value as a result of remeasurement is being recognized as research and development expense. The inception to date expense recognized with respect to this warrant totals $625 as of August 31, 2013. At August 31, 2013, 99,999 warrants had vested under this arrangement. The fair value of the warrants not yet vested at August 31, 2013 was $1.0 using a risk-free rate of 1.21% based on the respective exercise periods of each installment, expected volatility of 73.3%, expected term of 3.72 years based on the respective exercise periods of each installment, which is also the remaining contractual term, and 0% dividend yield. | |||
In June 2011, the Company and Noble agreed to modify the warrants issued to Noble as follows: the warrant vests in equal installments of 33,333 shares on May 19, 2013 and May 19, 2015, respectively and shall remain exercisable until the earliest of a period of five years from the respective vesting dates and May 18, 2017. | |||
Warrants issued in connection with TAMU Agreement | |||
In August 2007, the Company entered into a sponsored research and intellectual property rights agreement with The Texas A&M University System (TAMU) to establish a research program (see Note (13)). In connection with this collaboration, the Company granted TAMU a warrant to purchase 66,666 shares of the Company's common stock for an exercise price of $30.00 per share. The warrant vests based on certain research and commercialization milestones being met and shall remain exercisable until August 28, 2017. This warrant is accounted for at fair value and remeasured until the vesting targets are met. The fair value, including the resulting change in value as a result of remeasurement is being recognized as research and development expense. The inception to date expense recognized with respect to this warrant totals $2.0 as of August 31, 2013. The fair value of the warrants at August 31, 2013 was $2.4, using a risk-free rate of 1.19%, expected volatility of 73.3%, expected term of 3.99 years and 0% dividend yield. No warrants had vested under this arrangement as of August 31, 2013. | |||
In December 2011, pursuant to an Amended and Restated Intellectual Property Rights Agreement (IP Rights Agreement) (see Note (13)), the Company issued warrants to TAMU to purchase 66,666 shares of common stock at an exercise price of $14.30 per share. The warrants expire on September 24, 2026 and, subject to certain conditions, vest in equal installments on the fifth, tenth and fifteenth anniversary of the IP Rights Agreement. The inception to date expense recognized with respect to this warrant totals $10.9 as of August 31, 2013. The fair value of the warrants at August 31, 2013 was $49.7, using a risk-free rate of 2.78%, expected volatility of 78.9%, expected term of 13.06 years and 0% dividend yield. No warrants had vested under this arrangement as of August 31, 2013. | |||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Aug. 31, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
(10) Income Taxes | |||||||||||||
Deferred tax benefits associated with deferred tax assets are offset by a corresponding valuation allowance. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. | |||||||||||||
Income tax expense (benefit) attributable to loss before income taxes consisted of the following: | |||||||||||||
Current | Deferred | Total | |||||||||||
Year ended August 31, 2013 | |||||||||||||
U.S. federal | $ | - | $ | - | $ | - | |||||||
State and local | 1 | - | 1 | ||||||||||
$ | 1 | $ | - | $ | 1 | ||||||||
Current | Deferred | Total | |||||||||||
Year ended August 31, 2012 | |||||||||||||
U.S. federal | $ | - | $ | - | $ | - | |||||||
State and local | 3 | - | 3 | ||||||||||
$ | 3 | $ | - | $ | 3 | ||||||||
Current | Deferred | Total | |||||||||||
Year ended August 31, 2011 | |||||||||||||
U.S. federal | $ | (30 | ) | $ | - | $ | (30 | ) | |||||
State and local | (1 | ) | - | (1 | ) | ||||||||
$ | (31 | ) | $ | - | $ | (31 | ) | ||||||
Income tax expense differs from the amount computed by applying the federal corporate income tax rate of 34% to the loss before income taxes due to the following: | |||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||
August 31, | August 31, | August 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Computed "expected" tax expense (benefit) | $ | (11,054 | ) | $ | (9,999 | ) | $ | (12,365 | ) | ||||
Increase (reduction) in income taxes resulting from: | |||||||||||||
Stock-based compensation | 876 | 636 | 893 | ||||||||||
State and local income taxes, net of federal income tax benefit | 1 | 2 | (1 | ) | |||||||||
Foreign rate differential | - | 1,258 | 512 | ||||||||||
Convertible note changes and change in fair value | - | - | 750 | ||||||||||
Warrants modification and changes in fair value | - | 29 | 2,997 | ||||||||||
Other | 17 | 182 | 7 | ||||||||||
Change in valuation allowance | 10,161 | 7,895 | 7,176 | ||||||||||
Income tax expense (benefit) | $ | 1 | $ | 3 | $ | (31 | ) | ||||||
The following table summarizes the tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at each period end: | |||||||||||||
August 31, | August 31, | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accrued liabilities | $ | 163 | $ | 799 | |||||||||
Other assets | 77 | 17 | |||||||||||
Inventory capitalization | 265 | 145 | |||||||||||
Deferred revenue | - | 275 | |||||||||||
Total current deferred tax assets | 505 | 1,236 | |||||||||||
Noncurrent assets: | |||||||||||||
Depreciation | 2,150 | 2,044 | |||||||||||
Inventory reserves | 2,427 | 2,328 | |||||||||||
Deferred rent | 36 | 27 | |||||||||||
Other assets | 568 | 301 | |||||||||||
Net operating loss carryforward | 88,791 | 74,412 | |||||||||||
Federal and state tax credit carryforward | 8,919 | 8,919 | |||||||||||
Total noncurrent deferred tax assets | 102,891 | 88,031 | |||||||||||
Total deferred tax assets | 103,396 | 89,267 | |||||||||||
Less valuation allowance | (103,396 | ) | (89,267 | ) | |||||||||
Net deferred tax assets | $ | - | $ | - | |||||||||
As of August 31, 2013, the Company had $223,205 of federal, $152,667 of state and $14,625 of foreign net operating loss (NOL) carryforwards available to offset future taxable income, if any, which expire in varying amounts from 2018 through 2033 for federal tax purposes and from 2014 through 2033 for state tax purposes if unused. The carry forward period for the foreign NOL is indefinite. The excess tax benefits associated with the exercise of non-qualified stock options, restricted stock grants, and disqualifying dispositions of incentive stock option stock, for 2013 and 2012 in the amount of $2,458 and $2,367, respectively, did not reduce the current income taxes payable and, accordingly, are not included in the deferred tax asset relating to NOL carryforwards, but are included with the federal and state NOL carryforwards. In addition, the Company has alternative minimum tax (AMT) for state income tax purposes of approximately $17 and research and development tax carryforwards for federal income tax purposes of approximately $8,907, which are available to offset future tax liabilities, if any, through 2029. | |||||||||||||
In accordance with Internal Revenue Code (IRC) Sections 382 and 383, the annual utilization of net operating loss carryforwards and credits is limited if a change in control occurs, including a change resulting from an initial public offering. The Company has not completed a Section 382 analysis to determine if a change in ownership has occurred. Until such analysis is completed, there are no assurances that the existing net operating loss carryforwards or credits are not subject to significant limitation. | |||||||||||||
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the historical taxable income (loss) and projections for future taxable income (loss) over the periods in which the deferred tax assets are deductible, management believes it is more likely that the Company will not realize the benefits of these deductible differences. Accordingly, the Company has established a full valuation allowance of $103,396 and $ 89,267 for the years ended August 31, 2013 and 2012, respectively. | |||||||||||||
401k_Benefit_Plan
401(k) Benefit Plan | 12 Months Ended |
Aug. 31, 2013 | |
401(k) Benefit Plan [Abstract] | ' |
401(k) Benefit Plan | ' |
(11) 401(k) Benefit Plan | |
The Company has a 401(k) profit sharing plan (the Plan) which covers substantially all employees of the Company. Plan participants may make voluntary contributions of up to 60% of their earnings up to the statutory limit. The Company will match 50% of each employee contribution up to a maximum of 4% of the employee's salary in matching funds per pay period. The matching contribution vests over a three-year service period; 25% vests immediately and an additional 25% vests for each year of service to the Company thereafter over the next three years. The Company recorded expense of $288, $297 and $279 in 2013, 2012 and 2011, respectively. The Company made no discretionary contributions in any year. | |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Aug. 31, 2013 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
(12) Commitments and Contingencies | |||||
The Company leases certain of its facilities and equipment under various noncancelable operating leases expiring through 2023. The leases on the facilities contains provisions for future rent increases. The Company records monthly rent expense equal to the total of the payments due over the lease term, divided by the number of months of the lease term. The difference between rent expense recorded and the amount paid is credited or charged to deferred rent, which is reflected as a separate line item in the accompanying consolidated balance sheets as of August 31, 2013 and 2012. | |||||
In connection with one of its facilities leases, the Company received a reimbursement for leasehold improvements of $270. This reimbursement is a lease incentive which has been recognized as a liability in deferred rent and is being amortized to rent expense on a straight-line basis over the lease term. Total rental expense recognized during each period was $500, $519 and $645 for 2013, 2012 and 2011, respectively. | |||||
Future minimum payments under noncancelable operating leases as of August 31, 2013 are as follows: | |||||
Operating | |||||
leases | |||||
2014 | $ | 595 | |||
2015 | 548 | ||||
2016 | 550 | ||||
2017 | 559 | ||||
2018 | 575 | ||||
Thereafter | 688 | ||||
Total minimum lease payments | $ | 3,515 | |||
Research_Collaboration_Agreeme
Research Collaboration Agreements | 12 Months Ended | ||||
Aug. 31, 2013 | |||||
Research Collaboration Agreements [Abstract] | ' | ||||
Research Collaboration Agreements | ' | ||||
(13) Research Collaboration Agreements | |||||
The Company has a number of research agreements with academic collaborators, including among others, TAMU, Noble, and the Institute of Crop Sciences of the Chinese Academy of Agricultural Sciences. In connection with these agreements, the Company receives certain exclusive options or licensing rights to technology and intellectual property developed under these agreements. The Company expenses amounts under these agreements to research and development expense in the period in which the services are rendered. The Company also licenses technology from third parties. Initial payments under these license agreements are capitalized and expensed on a straight-line basis over the license term. | |||||
Noble Agreement | |||||
In May 2006, the Company entered into a collaboration agreement with Noble to establish a research program. Under the Noble Agreement, the Company agreed to fund certain research activities undertaken by Noble in an amount up to $3,800 through July 31, 2012 and granted Noble a warrant to purchase 133,333 shares of the Company's common stock for an exercise price of $30.00 per share (see Note (9)). Additional projects may be added under the agreement, if agreed to by both parties. | |||||
Under the collaboration agreement, in August 2012 the Company agreed to fund certain research activities undertaken by Noble through July 31, 2013 and 2014 of $82.7 and $85.3 per year, respectively. | |||||
TAMU Agreement | |||||
In August 2007, the Company entered into a Sponsored Research and Intellectual Property Rights agreement with TAMU to establish a research program. Under the agreement, the Company agreed to fund certain research activities undertaken by TAMU in an amount up to $5,100 through 2012 and granted TAMU a warrant to purchase 66,666 shares of the Company's common stock for an exercise price of $30.00 per share (see Note (9)). | |||||
On September 24, 2011, the Company entered into an Amended and Restated Sponsored Research Agreement and an Amended and Restated Intellectual Property Rights Agreement (the "IP Rights Agreement") with TAMU which both expire on September 23, 2026. The specific research projects and budgets undertaken pursuant to such agreement will be determined by an Executive Committee comprised of two members from each of TAMU and the Company as set forth in the Amended and Restated Sponsored Research Agreement. In December 2011, pursuant to the IP Rights Agreement, the Company issued warrants to TAMU to purchase 66,666 shares of common stock at an exercise price of $14.30 per share (see Note (9)). | |||||
At August 31, 2013, the future minimum payments under the Company's research collaboration agreements are as follows: | |||||
2014 | $ | 3,041 | |||
2015 | 2,977 | ||||
2016 | 2,966 | ||||
2017 | 613 | ||||
$ | 9,597 | ||||
Selected_Quarterly_Financial_I
Selected Quarterly Financial Information (unaudited) | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Selected Quarterly Financial Information (unaudited) [Abstract] | ' | ||||||||||||||||
Selected Quarterly Financial Information (unaudited) | ' | ||||||||||||||||
(14) Selected Quarterly Financial Information (unaudited) | |||||||||||||||||
The following is a summary of the unaudited quarterly results of operations for the years ended August 31, 2013 and 2012 | |||||||||||||||||
November 30, | February 29, | May 31, | August 31, | ||||||||||||||
2012 | 2013 | 2013 | 2013 | ||||||||||||||
2013:00:00 | |||||||||||||||||
Net sales | $ | 1,966 | $ | 1,026 | $ | 1,355 | $ | 898 | |||||||||
Cost of revenues | 700 | 2,280 | 2,134 | 1,132 | |||||||||||||
Operating loss | (6,921 | ) | (9,014 | ) | (9,317 | ) | (7,339 | ) | |||||||||
Net loss | (6,894 | ) | (8,966 | ) | (9,323 | ) | (7,331 | ) | |||||||||
Basic and diluted net loss per share | (0.28 | ) | (0.36 | ) | (0.38 | ) | (0.29 | ) | |||||||||
November 30, | February 29, | May 31, | August 31, | ||||||||||||||
2011 | 2012 | 2012 | 2012 | ||||||||||||||
2012:00:00 | |||||||||||||||||
Net sales | $ | 1,748 | $ | 1,311 | $ | 1,148 | $ | 1,164 | |||||||||
Cost of revenues | 763 | 487 | 627 | 507 | |||||||||||||
Operating loss | (7,094 | ) | (6,980 | ) | (8,078 | ) | (6,650 | ) | |||||||||
Net loss | (7,540 | ) | (6,831 | ) | (8,416 | ) | (6,623 | ) | |||||||||
Basic and diluted net loss per share | (3.73 | ) | (2.48 | ) | (0.34 | ) | (0.27 | ) | |||||||||
Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year shown elsewhere in the Annual Report on Form 10-K. | |||||||||||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Aug. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
(15) Subsequent Events | |
On October 11, 2013, the Company announced a restructuring plan which includes a workforce reduction that will impact 17 positions in the U.S, and is expected to be substantially completed by May 31, 2014. The Company estimates that it will incur total charges of approximately $1.6 million during the first nine months of fiscal year 2014 with respect to the workforce reduction in the U.S. | |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||
Description of Business | ' | ||||||||||||||||
Description of Business | |||||||||||||||||
Ceres, Inc. (Company) is an agricultural biotechnology company selling seeds to produce dedicated energy crops - renewable bioenergy feedstocks that can enable the large-scale replacement of petroleum and other fossil fuels. The Company uses a combination of advanced plant breeding and biotechnology to develop seed products. | |||||||||||||||||
In January 2010, the Company incorporated a subsidiary, Ceres Sementes do Brasil Ltda. The Company's ownership in this subsidiary is 99.9% and the Company's Chief Executive Officer owns the remaining interest. | |||||||||||||||||
On January 24, 2012, the Company filed an amended and restated certificate of incorporation which effected a 1 for 3 reverse stock split of the Company's issued and outstanding shares of common stock. The par value of the common stock was not adjusted as a result of the reverse stock split. All issued and outstanding shares of common stock and stock options and per share amounts contained in the Company's consolidated financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented. | |||||||||||||||||
On February 27, 2012, the Company closed its initial public offering (IPO) of 5,750,000 shares of common stock (including 750,000 shares purchased by the underwriters upon the exercise of their option to purchase up to an additional 750,000 shares) at an offering price of $13.00 per share, resulting in net proceeds to the Company of approximately $65,158, after deducting underwriting discounts and commissions and offering expenses. Upon closing of the IPO, all of the Company's outstanding shares of convertible preferred stock were automatically converted into 15,353,221 shares of common stock, all of the Company's outstanding convertible subordinated notes (Convertible Notes) were automatically converted into 1,098,575 shares of common stock and all of the Company's outstanding convertible preferred stock warrants were automatically converted into warrants to purchase a total of 20,511 shares of common stock. | |||||||||||||||||
Liquidity | ' | ||||||||||||||||
Liquidity | |||||||||||||||||
The Company has incurred substantial net losses from operations since its inception, including net losses of $32,511, $29,410 and $36,336 for the years ended August 31, 2013, 2012, and 2011, respectively. As of August 31, 2013 the Company had an accumulated deficit of $274,584. | |||||||||||||||||
Management has taken certain actions subsequent to August 31, 2013 to extend the Company's available working capital. The Company expects to incur additional losses related to the continued development and expansion of its business, including research and development, seed production and operations, and sales and marketing. The Company plans to finance its operations for the next 12 to 15 months with cash and investments currently on hand, with cash inflows from collaboration and grant funding and from product sales. There is no assurance that the Company will achieve profitable operations, or if achieved, that profitable operations can be sustained on a continued basis. | |||||||||||||||||
Management believes that the Company's cash and cash equivalents and marketable securities at August 31, 2013 are sufficient to fund operations for the next 12 months. | |||||||||||||||||
Basis of Presentation | ' | ||||||||||||||||
Basis of Presentation | |||||||||||||||||
The accompanying consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (GAAP) and with the Rules and Regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of the Company and its subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. | |||||||||||||||||
Use of Estimates | ' | ||||||||||||||||
Use of Estimates | |||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. This affects the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include the valuation of property and equipment, inventory, deferred tax assets, common stock, convertible preferred stock, stock options, warrant liabilities and convertible notes. Actual results could differ from those estimates. | |||||||||||||||||
Cash Equivalents | ' | ||||||||||||||||
Cash Equivalents | |||||||||||||||||
The Company considers all highly liquid investments, with an original maturity of three months or less when purchased, to be cash equivalents. Cash equivalents totaled $8,881 and $16,769 at August 31, 2013 and 2012, respectively. | |||||||||||||||||
Marketable Securities | ' | ||||||||||||||||
Marketable Securities | |||||||||||||||||
Marketable securities are classified as available for sale and are recorded at fair value, with the unrealized gains and losses, if any, net of taxes, reported as a component of shareholders' equity until realized or until a determination is made that an other-than-temporary decline in market value has occurred. | |||||||||||||||||
In determining whether an other-than-temporary impairment exists for debt securities, management considers: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management has determined that there has been no other-than-temporary impairment of its marketable securities. | |||||||||||||||||
The cost of marketable securities sold is based upon the specific identification method and any realized gains or losses on the sale of investments are reflected as a component of interest income or expense. There were no sales of marketable securities during the years ended August 31, 2013 and 2012. | |||||||||||||||||
The Company classifies marketable securities as current or non-current based upon whether such assets are reasonably expected to be realized in cash or sold or consumed during the normal operating cycle of the business. | |||||||||||||||||
Financial Instruments | ' | ||||||||||||||||
Financial Instruments | |||||||||||||||||
The carrying value of financial instruments such as cash and cash equivalents, accounts receivables, accounts payable, and accrued expenses approximate their fair value due to the short-term nature of these instruments. At each period end, the fair value of the long-term debt approximated carrying value based on interest rates currently available to the Company. | |||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
Assets and liabilities recorded at fair value in the consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels that are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows: | |||||||||||||||||
• | Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date. | ||||||||||||||||
• | Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. | ||||||||||||||||
• | Level 3 inputs are unobservable inputs for the asset or liability. | ||||||||||||||||
The following tables present the Company's financial assets that were measured at fair value on a recurring basis as of August 31, 2013 and 2012 by level within the fair value hierarchy: | |||||||||||||||||
August 31, 2013 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Financial Assets | |||||||||||||||||
Money market funds | $ | 2,310 | $ | - | $ | - | $ | 2,310 | |||||||||
Certificates of deposit - available for sale | - | 4,555 | - | 4,555 | |||||||||||||
Commercial paper - available for sale | - | 2,198 | - | 2,198 | |||||||||||||
Corporate bonds - available for sale | - | 16,076 | - | 16,076 | |||||||||||||
Total | $ | 2,310 | $ | 22,829 | $ | - | $ | 25,139 | |||||||||
All of the money market funds and $1,199 of the commercial paper are included in cash and cash equivalents on the consolidated balance sheets. | |||||||||||||||||
August 31, 2012 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Financial Assets | |||||||||||||||||
Money market funds | $ | 16,769 | $ | - | $ | - | $ | 16,769 | |||||||||
Commercial paper - available for sale | - | 10,187 | - | 10,187 | |||||||||||||
Corporate bonds - available for sale | - | 29,098 | - | 29,098 | |||||||||||||
Total | $ | 16,769 | $ | 39,285 | $ | - | $ | 56,054 | |||||||||
All of the money market funds are included in cash and cash equivalents on the consolidated balance sheets. | |||||||||||||||||
Accounts Receivable | ' | ||||||||||||||||
Accounts Receivable | |||||||||||||||||
Accounts receivable represents amounts owed to the Company from product sales and collaborative research and government grants. The Company had no amounts reserved for doubtful accounts at August 31, 2013 and 2012 as the Company expected full collection of the accounts receivable balances. | |||||||||||||||||
Customers representing greater than 10% of accounts receivable were as follows (in percentages): | |||||||||||||||||
As of | |||||||||||||||||
August 31, | |||||||||||||||||
Customers | 2013 | 2012 | |||||||||||||||
Customer A | 37.3 | 47.9 | |||||||||||||||
Customer B | 23.1 | * | |||||||||||||||
Customer D | ** | 13.6 | |||||||||||||||
Customer E | * | 15.2 | |||||||||||||||
Customer F | 21.8 | ** | |||||||||||||||
* | Less than 10% | ||||||||||||||||
** | No balance | ||||||||||||||||
Customers representing greater than 10% of revenues were as follows (in percentages): | |||||||||||||||||
Year Ended August 31, | |||||||||||||||||
Customers | 2013 | 2012 | 2011 | ||||||||||||||
Customer A | 21.2 | 24.7 | 20.5 | ||||||||||||||
Customer B | 20.2 | 16.8 | 16.6 | ||||||||||||||
Customer C | ** | * | 20.9 | ||||||||||||||
Customer D | 14.5 | 17.4 | 25.4 | ||||||||||||||
Customer F | 22.5 | 14 | * | ||||||||||||||
* | Less than 10% | ||||||||||||||||
** | No revenue | ||||||||||||||||
Property and Equipment | ' | ||||||||||||||||
Property and Equipment | |||||||||||||||||
Property and equipment is stated at cost. Depreciation is provided using the straight-line method over the shorter of the estimated useful lives or the remaining life of the lease. Depreciation periods for the Company's property and equipment are as follows: | |||||||||||||||||
Automobiles and trucks | 3-5 years | ||||||||||||||||
Office, laboratory, farm and warehouse equipment and furniture | 3-5 years | ||||||||||||||||
Leasehold improvements | 3-10 years | ||||||||||||||||
Buildings | 14-39 years | ||||||||||||||||
Impairment of Long-Lived Assets | ' | ||||||||||||||||
Impairment of Long-Lived Assets | |||||||||||||||||
Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. To the extent that an impairment indicator has occurred, recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. In fiscal years 2013 and 2012 there was an indicator that impairment has occurred. However, there was no impairment as the carrying amount of the property and equipment did not exceed the fair value of such assets. | |||||||||||||||||
On February 3, 2012, the Company's plant breeding and field research station located near College Station, Texas was damaged by a tornado. The impact was limited to structural damage to the building that houses office space and a small laboratory used to evaluate biomass samples and work space. A small greenhouse and tractor sheds, and some agricultural equipment were also damaged. | |||||||||||||||||
In fiscal year 2012, the Company impaired $1,026 in assets related to damage at the Texas facility and received insurance proceeds of $1,000 for repair costs. The remainder of the repairs, which totaled approximately $150, were completed by November 30, 2012. These remaining repairs were also covered by insurance, subject to the Company's deductible. | |||||||||||||||||
Common and Convertible Preferred Stock Warrant Liabilities | ' | ||||||||||||||||
Common and Convertible Preferred Stock Warrant Liabilities | |||||||||||||||||
Prior to the closing of the IPO, the Company determined that common stock warrants issued to certain holders of convertible preferred stock were not considered indexed to the Company's common stock and therefore required liability classification. In addition, the Company accounted for its warrants to purchase shares of the Company's convertible preferred stock that were contingently redeemable as liabilities at fair value on the consolidated balance sheets. These common and convertible preferred stock warrants were subject to re-measurement at each balance sheet date and the changes in fair value, if any, were recognized as other (expense) income. | |||||||||||||||||
Upon the closing of the IPO, certain common and convertible preferred stock warrants, previously classified as liabilities were revalued and reclassified to additional paid-in capital as they no longer met the requirements for liability classification given the automatic conversion of the convertible preferred stock to common stock upon consummation of the IPO. | |||||||||||||||||
Convertible Preferred Stock | ' | ||||||||||||||||
Convertible Preferred Stock | |||||||||||||||||
In connection with the Company's decision to file a registration statement with the Securities and Exchange Commission for the IPO, the Company adopted the provisions of Accounting Standards Codification (ASC) Topic 480-10-S99-3A, Classification and Measurement of Redeemable Securities. | |||||||||||||||||
The convertible preferred stock was not redeemable by the Company or at the option of the preferred stockholders. The holders of the Company's outstanding convertible preferred stock, voting or consenting together as a separate class, controlled the vote of the Company's stockholders. As a result, the holders of all series of the Company's convertible preferred stock could vote to approve a change in control under circumstances that would trigger a deemed liquidation under the Company's certificate of incorporation in effect prior to the IPO. As redemption of the convertible preferred stock through a deemed liquidation was outside the control of the Company, all shares of convertible preferred stock were classified as temporary equity rather than as a component of stockholders' equity in the Company's consolidated balance sheets. The carrying value of convertible preferred stock was recorded at its fair value at the date of issue. As discussed in Note (1), all of the outstanding shares of convertible preferred stock were automatically converted into shares of common stock upon the closing of the IPO. | |||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
Stock-Based Compensation | |||||||||||||||||
The Company accounts for stock-based compensation arrangements with employees using a fair value method under ASC Topic 718, Compensation - Stock Compensation, which requires the recognition of compensation expense for costs related to all stock-based payments including stock options and restricted stock awards. | |||||||||||||||||
The fair value method requires the Company to estimate the fair value of stock-based payment awards on the date of grant using an option pricing model. The Company uses an option pricing model to estimate the fair value of stock options granted that are expensed on a straight-line basis over the vesting period. The Company accounts for stock options issued to non-employees based on the estimated fair value of the awards using the option pricing model. The measurement of stock-based compensation to non-employees is subject to periodic adjustments as the underlying equity instruments vest, and the resulting change in value, if any, is recognized in the Company's consolidated statements of operations during the period the related services are rendered. | |||||||||||||||||
The Company accounts for restricted stock awards based on the quoted market price of the Company's common stock on the date of grant that are expensed on a straight-line basis over the vesting period. | |||||||||||||||||
Revenue Recognition | ' | ||||||||||||||||
Revenue Recognition | |||||||||||||||||
Revenues are recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) transfer of product or technology has been completed or services have been rendered; (3) the fee is fixed or determinable; and (4) collectability is reasonably assured. To date, the Company's primary source of revenues has been derived from collaborative research agreements and government grants and to a lesser extent, product sales. | |||||||||||||||||
Product Sales | |||||||||||||||||
Product sales are derived from sales of seeds, trait fees, crop management services and biomass that was delivered under certain of our sales incentive and performance based programs for the 2012-2013 growing season in Brazil. Product sales are recognized, net of discounts and allowances, once passage of title and risk of loss have occurred and contractually specified acceptance criteria have been met, provided all other revenue recognition criteria have also been met. To date, product sales have not been significant. | |||||||||||||||||
Collaborative Research and Government Grants | |||||||||||||||||
From time to time, the Company enters into research and development collaboration agreements with third parties including several biofuel producers and government agencies such as the Department of Energy (DOE) and the United States Department of Agriculture (USDA). The research and development collaboration agreements typically provide the Company with multiple revenue streams, which may include up-front, non-refundable fees for licensing certain of the Company's technologies, government grants and fees for research and development activities, and contingent milestone payments based upon achievement of contractual criteria. | |||||||||||||||||
• | Technology License Fees - For collaboration agreements in which the Company has continuing involvement, license fees are recognized on a straight-line basis over the term of the arrangement. Licensing fees are non-refundable and not subject to future performance. | ||||||||||||||||
• | Government Grants - The Company receives payments from government entities in the form of government grants. Government grants generally provide the Company with partial cost reimbursement for certain types of expenditures in return for research and development activities over a contractually defined period. Revenues from government grants are recognized in the period during which the related costs are incurred, provided that the conditions under which the government grants were provided have been met and the Company has only perfunctory obligations outstanding. | ||||||||||||||||
• | Research and Development Fees - Generally, fees for research and development activities are recognized as the services are performed over the performance period, as specified in the respective agreements. Certain of the Company's collaboration agreements require the Company to deliver research data by specific dates and that the collective program plan will result in reaching specific crop characteristics by certain dates. For such arrangements, the Company recognizes revenues based on the approximate percentage of completion of services under the agreement, but the revenue recognized cannot exceed payments received by the Company to date under the agreement. The research and development period is estimated at the inception of each agreement and is periodically evaluated. | ||||||||||||||||
• | Milestone Fees - Fees that are contingent based on achievement of substantive performance milestones at inception of the agreement are recognized based on the achievement of the milestone, as defined in the respective agreements. | ||||||||||||||||
Deferred Revenue | |||||||||||||||||
The Company recognizes deferred revenue to the extent that cash received under the collaboration agreement is in excess of the revenues recognized related to the agreement since the work under the agreement has not yet been performed at the time of cash receipt, which is classified as other current liabilities on the accompanying consolidated balance sheet. | |||||||||||||||||
On December 20, 2007, the Company and Campbell Soup Company (Campbell) entered into a development and license agreement under which the Company was working to improve yields of a food product. The agreement provided that the Company would receive $7,500 in payments from Campbell over a five-year period provided milestones were met. In addition, the agreement provided that the Company would be entitled to receive a royalty based on the gross sales of crop varieties created under the agreement. In December 2011, the development and license agreement was amended to extend the $7,500 in payments from Campbell over a six-year period. In November 2012, following Campbell's sale of its vegetable seed assets to a third party, the development and license agreement, as amended, was terminated and cancelled. In connection with the termination, Campbell paid the Company $550 in full and complete satisfaction of all remaining financial obligations. The Company recognized revenue of $758, $933 and $1,683 under this agreement in 2013, 2012 and 2011, respectively. | |||||||||||||||||
The Company has earned research funding revenues from several agreements with the DOE, the USDA, USAID and several leading bio-fuels producers whereby the Company performed research activities and received revenues that partially reimbursed its expenses incurred. Under such grants and agreements, the Company retained a proprietary interest in the products and technology it developed. These expense reimbursements primarily consisted of direct expense sharing arrangements. The Company recorded revenue related to these grants of approximately $2,355, $2,416 and $3,120 in 2013, 2012 and 2011, respectively. The cumulative remaining amount to be claimed for all grants and certain collaboration agreements outstanding as of August 31, 2013 is approximately $2,288. | |||||||||||||||||
On December 16, 2008, the Company and Syngenta Biotechnology, Inc. (Syngenta) entered into a software license and collaboration agreement pursuant to which the Company provided software, software development and customer support for certain research application-based software. The agreement was structured into three phases and under the agreement, the Company received $1,500 in payments over an approximate 4.5 year period. The software delivered is comprised of multiple elements, which include software, installation, training, customization of software, and software support. On April 16, 2012, the agreement was amended to reflect Syngenta's acceptance of all software and software support services provided under the original agreement and to allow for the continuation of certain software support services during a post development support period beginning April 16, 2012 and extending until all services are terminated pursuant to the terms of the agreement. The Company recognized revenues equal to the amount of expense recognized as services were rendered until April 15, 2012, when the software support became the only undelivered element. Beginning April 16, 2012, the unrecognized revenue under the agreement is being recognized ratably over the remaining software support period. The Company recognized revenues totaling $1,180, $750 and $243 under this agreement in 2013, 2012 and 2011, respectively. | |||||||||||||||||
Research and Development | ' | ||||||||||||||||
Research and Development | |||||||||||||||||
Research and development expenses principally consist of personnel costs related to the Company's research and development staff as well as depreciation of research and development assets. Research and development expenses also include costs incurred for laboratory supplies, reimbursable costs associated with government grants and collaborative agreements, third-party contract payments, consultants, facility and related overhead costs. | |||||||||||||||||
Seed Inventories | ' | ||||||||||||||||
Seed Inventories | |||||||||||||||||
At August 31, 2013, inventory consisted of work-in-process costs related to sweet sorghum seeds. At August 31, 2012, inventory consisted of work-in-process and finished good costs related to sweet sorghum seeds. Inventory costs are computed on a first-in, first-out basis and valued at the lower of cost or market with any excess cost recognized during the period within cost of product sales. At August 31, 2013, all seed inventory other than work-in-process was fully written off based on the lower of cost or market, based on on the Company's evaluation of such inventory. | |||||||||||||||||
Income Taxes | ' | ||||||||||||||||
Income Taxes | |||||||||||||||||
The Company accounts for income taxes in accordance with ASC 740, Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. | |||||||||||||||||
The Company accounts for unrecognized tax benefits also in accordance with ASC 740, Income Taxes, which prescribes a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. The minimum threshold is defined as a tax position that is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution to any related appeals or litigation, based solely on the technical merits of the position. The Company has no accrual for interest or penalties related to uncertain tax positions at August 31, 2013 and 2012, and did not recognize interest or penalties in the Statements of Operations during the years ended August 31, 2013, 2012 and 2011. | |||||||||||||||||
The major jurisdictions in which the Company files income tax returns include the federal and state jurisdictions within the United States and Brazil, where it has a subsidiary. The tax years after 2008 remain open to examination by federal and state taxing jurisdictions and the tax years after 2010 remain open to examination by foreign jurisdictions. However, the Company has NOLs beginning in 1998 which would cause the statute of limitations to remain open for the year in which the NOL was incurred. | |||||||||||||||||
Foreign Currency Translation | ' | ||||||||||||||||
Foreign Currency Translation | |||||||||||||||||
The Brazilian real is the functional currency of the Company's subsidiary in Brazil. Accordingly, assets and liabilities of those operations are translated into United States dollars using the current exchange rate in effect at the balance sheet date and equity accounts are translated into United States dollars using historical rates. Revenues and expenses are translated at the weighted average rate of exchange during the reporting period. Gains and losses from foreign currency translation adjustments are represented as a component of accumulated other comprehensive loss. | |||||||||||||||||
Accumulated Other Comprehensive Income | ' | ||||||||||||||||
Accumulated Other Comprehensive Income | |||||||||||||||||
The Company's unrealized gains and losses on available-for-sale securities and foreign currency translation adjustments represents the components of comprehensive income (income) and have been disclosed in the consolidated statements of stockholders' equity (deficit). | |||||||||||||||||
The following summarizes the changes in the balances of each component of accumulated comprehensive income (loss) during the years presented: | |||||||||||||||||
Accumulated | |||||||||||||||||
Foreign | Unrealized | Other | |||||||||||||||
Currency | Gains (Losses) | Comprehensive | |||||||||||||||
Translation | on Securities | Loss | |||||||||||||||
Balance at August 31, 2011 | $ | (27 | ) | $ | - | $ | (27 | ) | |||||||||
Comprehensive (loss) gain | (262 | ) | 6 | (256 | ) | ||||||||||||
Balance at August 31, 2012 | (289 | ) | 6 | (283 | ) | ||||||||||||
Comprehensive loss | (395 | ) | (18 | ) | (413 | ) | |||||||||||
Balance at August 31, 2013 | $ | (684 | ) | $ | (12 | ) | $ | (696 | ) | ||||||||
Basic and Diluted Net Loss Per Share | ' | ||||||||||||||||
Basic and Diluted Net Loss Per Share | |||||||||||||||||
Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares and dilutive potential common share equivalents then outstanding, to the extent they are dilutive. Potential common shares consist of shares issuable upon the exercise of stock options and warrants (using the treasury stock method), and the weighted average conversion of the convertible preferred stock into shares of common stock (using the if-converted method). Dilutive net loss per share is the same as basic net loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive. | |||||||||||||||||
The following table sets forth the computation of basic and diluted net loss per common share: | |||||||||||||||||
Year Ended | |||||||||||||||||
August 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Net loss | $ | (32,511 | ) | $ | (29,410 | ) | $ | (36,336 | ) | ||||||||
Basic and diluted net loss per common share | $ | (1.31 | ) | $ | (2.18 | ) | $ | (18.34 | ) | ||||||||
Basic and diluted weighted average outstanding common shares used for net loss | 24,796,030 | 13,488,336 | 1,981,627 | ||||||||||||||
The following potentially dilutive, common share equivalents were excluded from the calculation of diluted net loss per common share because their effect was anti-dilutive for each of the periods presented: | |||||||||||||||||
Year Ended | |||||||||||||||||
August 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Options to purchase common stock | 2,791,556 | 2,778,508 | 2,597,285 | ||||||||||||||
Warrants to purchase common stock | 2,082,045 | 2,082,045 | 1,994,868 | ||||||||||||||
Warrants to purchase convertible preferred stock | - | - | 20,511 | ||||||||||||||
Convertible preferred stock | - | - | 15,353,226 | ||||||||||||||
Convertible notes | - | - | 1,171,818 | ||||||||||||||
Total | 4,873,601 | 4,860,553 | 21,137,708 | ||||||||||||||
Segment and geographic information | ' | ||||||||||||||||
Segment and geographic information | |||||||||||||||||
Management has determined that it has one business activity and operates in one segment as it only reports financial information on an aggregate and consolidated basis to its Chief Executive Officer, who is the Company's chief operating decision maker. Geographic information regarding the Company's operations outside of North America is not significant for any period presented. | |||||||||||||||||
Recent Accounting Pronouncements | ' | ||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||
In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 finalizes the requirements of ASU 2011-05 that ASU 2011-12 deferred, clarifying how to report the effect of significant reclassifications out of accumulated other comprehensive income. ASU 2013-02 is effective for reporting periods beginning after December 15, 2012 and is to be applied prospectively. The Company does not anticipate that the adoption of this ASU will materially change the presentation of its consolidated financial statements. | |||||||||||||||||
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 requires an entity to present an unrecognized tax benefit as a reduction of a deferred tax asset for a net operating loss (NOL) carryforward, or similar tax loss or tax credit carryforward, rather than as a liability when: (1) the uncertain tax position would reduce the NOL or other carryforward under the tax law of the applicable jurisdiction, and (2) the entity intends to use the deferred tax asset for that purpose. ASU 2013-11 changes existing presentation requirements but does not require new recurring disclosures and is effective for fiscal years, and the interim periods within those years, beginning after December 15, 2013. The Company does not anticipate that the adoption of this ASU will materially change the presentation of its consolidated financial statements. | |||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||
Schedule of Financial Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
The following tables present the Company's financial assets that were measured at fair value on a recurring basis as of August 31, 2013 and 2012 by level within the fair value hierarchy: | |||||||||||||||||
August 31, 2013 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Financial Assets | |||||||||||||||||
Money market funds | $ | 2,310 | $ | - | $ | - | $ | 2,310 | |||||||||
Certificates of deposit - available for sale | - | 4,555 | - | 4,555 | |||||||||||||
Commercial paper - available for sale | - | 2,198 | - | 2,198 | |||||||||||||
Corporate bonds - available for sale | - | 16,076 | - | 16,076 | |||||||||||||
Total | $ | 2,310 | $ | 22,829 | $ | - | $ | 25,139 | |||||||||
All of the money market funds and $1,199 of the commercial paper are included in cash and cash equivalents on the consolidated balance sheets. | |||||||||||||||||
August 31, 2012 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Financial Assets | |||||||||||||||||
Money market funds | $ | 16,769 | $ | - | $ | - | $ | 16,769 | |||||||||
Commercial paper - available for sale | - | 10,187 | - | 10,187 | |||||||||||||
Corporate bonds - available for sale | - | 29,098 | - | 29,098 | |||||||||||||
Total | $ | 16,769 | $ | 39,285 | $ | - | $ | 56,054 | |||||||||
All of the money market funds are included in cash and cash equivalents on the consolidated balance sheets. | |||||||||||||||||
Schedule of Customers Representing Greater than Ten Percent of Accounts Receivable | ' | ||||||||||||||||
Customers representing greater than 10% of accounts receivable were as follows (in percentages): | |||||||||||||||||
As of | |||||||||||||||||
August 31, | |||||||||||||||||
Customers | 2013 | 2012 | |||||||||||||||
Customer A | 37.3 | 47.9 | |||||||||||||||
Customer B | 23.1 | * | |||||||||||||||
Customer D | ** | 13.6 | |||||||||||||||
Customer E | * | 15.2 | |||||||||||||||
Customer F | 21.8 | ** | |||||||||||||||
* | Less than 10% | ||||||||||||||||
** | No balance | ||||||||||||||||
Schedule of Customers Representing Greater than Ten Percent of Revenue | ' | ||||||||||||||||
Customers representing greater than 10% of revenues were as follows (in percentages): | |||||||||||||||||
Year Ended August 31, | |||||||||||||||||
Customers | 2013 | 2012 | 2011 | ||||||||||||||
Customer A | 21.2 | 24.7 | 20.5 | ||||||||||||||
Customer B | 20.2 | 16.8 | 16.6 | ||||||||||||||
Customer C | ** | * | 20.9 | ||||||||||||||
Customer D | 14.5 | 17.4 | 25.4 | ||||||||||||||
Customer F | 22.5 | 14 | * | ||||||||||||||
* | Less than 10% | ||||||||||||||||
** | No revenue | ||||||||||||||||
Schedule of Depreciation Period for Property and Equipment | ' | ||||||||||||||||
Depreciation periods for the Company's property and equipment are as follows: | |||||||||||||||||
Automobiles and trucks | 3-5 years | ||||||||||||||||
Office, laboratory, farm and warehouse equipment and furniture | 3-5 years | ||||||||||||||||
Leasehold improvements | 3-10 years | ||||||||||||||||
Buildings | 14-39 years | ||||||||||||||||
Schedule of Accumulated Other Comprehensive Income | ' | ||||||||||||||||
The following summarizes the changes in the balances of each component of accumulated comprehensive income (loss) during the years presented: | |||||||||||||||||
Accumulated | |||||||||||||||||
Foreign | Unrealized | Other | |||||||||||||||
Currency | Gains (Losses) | Comprehensive | |||||||||||||||
Translation | on Securities | Loss | |||||||||||||||
Balance at August 31, 2011 | $ | (27 | ) | $ | - | $ | (27 | ) | |||||||||
Comprehensive (loss) gain | (262 | ) | 6 | (256 | ) | ||||||||||||
Balance at August 31, 2012 | (289 | ) | 6 | (283 | ) | ||||||||||||
Comprehensive loss | (395 | ) | (18 | ) | (413 | ) | |||||||||||
Balance at August 31, 2013 | $ | (684 | ) | $ | (12 | ) | $ | (696 | ) | ||||||||
Summary of Computation of Basic and Diluted Net Loss Per Common Share | ' | ||||||||||||||||
The following table sets forth the computation of basic and diluted net loss per common share: | |||||||||||||||||
Year Ended | |||||||||||||||||
August 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Net loss | $ | (32,511 | ) | $ | (29,410 | ) | $ | (36,336 | ) | ||||||||
Basic and diluted net loss per common share | $ | (1.31 | ) | $ | (2.18 | ) | $ | (18.34 | ) | ||||||||
Basic and diluted weighted average outstanding common shares used for net loss | 24,796,030 | 13,488,336 | 1,981,627 | ||||||||||||||
Schedule of Potentially Dilutive, Common Share Equivalents Excluded from Calculation of Diluted Net Loss Per Common Share | ' | ||||||||||||||||
The following potentially dilutive, common share equivalents were excluded from the calculation of diluted net loss per common share because their effect was anti-dilutive for each of the periods presented: | |||||||||||||||||
Year Ended | |||||||||||||||||
August 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Options to purchase common stock | 2,791,556 | 2,778,508 | 2,597,285 | ||||||||||||||
Warrants to purchase common stock | 2,082,045 | 2,082,045 | 1,994,868 | ||||||||||||||
Warrants to purchase convertible preferred stock | - | - | 20,511 | ||||||||||||||
Convertible preferred stock | - | - | 15,353,226 | ||||||||||||||
Convertible notes | - | - | 1,171,818 | ||||||||||||||
Total | 4,873,601 | 4,860,553 | 21,137,708 | ||||||||||||||
Marketable_Securities_Tables
Marketable Securities (Tables) | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Marketable Securities [Abstract] | ' | ||||||||||||||||
Schedule of Available for Sale Securities | ' | ||||||||||||||||
Marketable securities classified as available for sale consisted of the following: | |||||||||||||||||
August 31, 2013 | |||||||||||||||||
Gross | Gross | ||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||
Available for sale securities | Cost | Gain | Loss | Fair Value | |||||||||||||
Certificates of Deposit | $ | 4,561 | $ | - | $ | (6 | ) | $ | 4,555 | ||||||||
Commercial Paper | 2,199 | - | (1 | ) | 2,198 | ||||||||||||
Corporate Bonds | 16,081 | 2 | (7 | ) | 16,076 | ||||||||||||
Total | $ | 22,841 | $ | 2 | $ | (14 | ) | $ | 22,829 | ||||||||
$1,199 of the commercial paper is included in the cash and cash equivalents on the consolidated balance sheets. | |||||||||||||||||
August 31, 2012 | |||||||||||||||||
Gross | Gross | ||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||
Available for sale securities | Cost | Gain | Loss | Fair Value | |||||||||||||
Commercial Paper | $ | 10,187 | $ | 2 | $ | (2 | ) | $ | 10,187 | ||||||||
Corporate Bonds | 29,092 | 17 | (11 | ) | 29,098 | ||||||||||||
Total | $ | 39,279 | $ | 19 | $ | (13 | ) | $ | 39,285 | ||||||||
Summary of Amortized Cost and Fair Value of Marketable Securities, Classified by Stated Maturity | ' | ||||||||||||||||
The following tables summarize the amortized cost and fair value of the Company's marketable securities, classified by stated maturity as of August 31, 2013 and 2012: | |||||||||||||||||
August 31, 2013 | |||||||||||||||||
Amortized Cost | Fair Value | ||||||||||||||||
Marketable securities | |||||||||||||||||
Due in 1 year or less | $ | 22,841 | $ | 22,829 | |||||||||||||
Due in 1 - 2 years | - | - | |||||||||||||||
$ | 22,841 | $ | 22,829 | ||||||||||||||
31-Aug-12 | |||||||||||||||||
Amortized | |||||||||||||||||
Cost | Fair Value | ||||||||||||||||
Marketable securities | |||||||||||||||||
Due in 1 year or less | $ | 33,567 | $ | 33,565 | |||||||||||||
Due in 1 - 2 years | 5,712 | 5,720 | |||||||||||||||
$ | 39,279 | $ | 39,285 | ||||||||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Inventories [Abstract] | ' | ||||||||
Schedule of Inventories | ' | ||||||||
Inventories consisted of the following: | |||||||||
August 31, | August 31, | ||||||||
2013 | 2012 | ||||||||
Work in process | $ | 20 | $ | 264 | |||||
Seed inventory | - | 577 | |||||||
Total inventories | $ | 20 | $ | 841 | |||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Property and Equipment [Abstract] | ' | ||||||||
Summary of Property and Equipment | ' | ||||||||
Property and equipment are summarized as follows: | |||||||||
As of | |||||||||
August 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 43 | $ | 43 | |||||
Automobiles and trucks | 796 | 728 | |||||||
Buildings | 3,180 | 3,252 | |||||||
Office, laboratory, farm and warehouse equipment and furniture | 14,792 | 15,552 | |||||||
Leasehold improvements | 5,716 | 5,709 | |||||||
24,527 | 25,284 | ||||||||
Less accumulated depreciation | (19,894 | ) | (19,528 | ) | |||||
Property and equipment, net | $ | 4,633 | $ | 5,756 | |||||
Accounts_Payable_and_Accrued_E1
Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Accounts Payable and Accrued Expenses [Abstract] | ' | ||||||||
Schedule of Accounts Payable and Accrued Expenses | ' | ||||||||
Accounts payable and accrued expenses consisted of the following: | |||||||||
As of | |||||||||
August 31, | |||||||||
2013 | 2012 | ||||||||
Accounts payable | $ | 1,289 | $ | 1,865 | |||||
Accrued payroll and related expenses | 1,020 | 2,530 | |||||||
Research and development contracts | 1,098 | 686 | |||||||
Accrued grower commitments | 38 | 76 | |||||||
Other | 380 | 319 | |||||||
$ | 3,825 | $ | 5,476 | ||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Aug. 31, 2013 | |||||||||
Long-Term Debt [Abstract] | ' | ||||||||
Summary of Long-Term Debt | ' | ||||||||
Long-term debt is summarized as follows: | |||||||||
As of | |||||||||
August 31, | |||||||||
2013 | 2012 | ||||||||
Capital Leases | $ | 236 | S | 390 | |||||
236 | 390 | ||||||||
Less current portion | (154 | ) | (134 | ) | |||||
$ | 82 | $ | 256 | ||||||
Schedule of Aggregated Maturities of Debt | ' | ||||||||
The aggregated maturities of debt as of August 31, 2013 are as follows: | |||||||||
2014 | $ | 154 | |||||||
2015 | 73 | ||||||||
2016 | 9 | ||||||||
$ | 236 | ||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||||||||||
Stock-Based Compensation [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Fair Value of Employee Stock Options Estimated Using Weighted Average Assumptions | ' | ||||||||||||||||||||||||
The fair value of employee stock options was estimated using the following weighted-average assumptions: | |||||||||||||||||||||||||
Year ended | |||||||||||||||||||||||||
August 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Expected term (in years) | 5.50-6.08 | 5.50-6.46 | 6.08-6.46 | ||||||||||||||||||||||
Expected volatility | 87%-88 | % | 78%-81 | % | 70%-78 | % | |||||||||||||||||||
Risk free interest rate | 0.82%-1.96 | % | 0.88%-1.35 | % | 1.48%-2.44 | % | |||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||||||||||
Expected Term - Because of limited employee share option exercises, the Company uses a simplified method in which the expected term of an award is presumed to be mid-point between the vesting date and the expiration date of the award. The expected term for all employee option grants is an average of 3.06 years. | |||||||||||||||||||||||||
Expected Volatility - The Company estimates the volatility of its common stock by using the historical volatility of a group of comparable companies over the option's expected term. The decision to use historical volatility of comparable companies was based upon the fact there is limited history of trading activity of the Company's common stock. | |||||||||||||||||||||||||
Risk-Free Interest Rate - The Company bases the risk-free interest rate used in the option valuation model on U.S. Treasury zero-coupon issues with remaining terms similar to the expected term on the options. | |||||||||||||||||||||||||
Expected Dividend Yield - The Company does not anticipate paying any cash dividends in the foreseeable future. | |||||||||||||||||||||||||
Summary of Stock-Based Compensation Costs Included in Operating Expenses and Total Intrinsic Value of Options Exercised | ' | ||||||||||||||||||||||||
Stock-based compensation expense included in operating expenses and total intrinsic value of stock options exercised are as follows: | |||||||||||||||||||||||||
Year ended | |||||||||||||||||||||||||
August 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Stock-based compensation costs for employee stock options | $ | 3,624 | $ | 2,464 | $ | 1,478 | |||||||||||||||||||
Fair value changes of collaboration warrants | (314 | ) | (555 | ) | 1,232 | ||||||||||||||||||||
Total stock-based compensation costs included in operating expenses | $ | 3,310 | $ | 1,909 | $ | 2,710 | |||||||||||||||||||
Intrinsic value of stock options exercised | $ | 79 | $ | 3,573 | $ | 632 | |||||||||||||||||||
Summary of Stock Option Transactions under Option Plans | ' | ||||||||||||||||||||||||
The following summarizes the stock option transactions under the Equity Plans during the periods presented: | |||||||||||||||||||||||||
Weighted | |||||||||||||||||||||||||
Average | |||||||||||||||||||||||||
Shares | Exercise Price | ||||||||||||||||||||||||
Options outstanding at August 31, 2011 | 2,597,285 | $ | 6.06 | ||||||||||||||||||||||
Options granted | 623,645 | 12.77 | |||||||||||||||||||||||
Options exercised | (298,282 | ) | 2.11 | ||||||||||||||||||||||
Options forfeited | (144,140 | ) | 7.34 | ||||||||||||||||||||||
Options outstanding at August 31, 2012 | 2,778,508 | 7.92 | |||||||||||||||||||||||
Options granted | 315,064 | 3.63 | |||||||||||||||||||||||
Options exercised | (23,832 | ) | 2.36 | ||||||||||||||||||||||
Options forfeited | (278,184 | ) | 7.87 | ||||||||||||||||||||||
Options outstanding at August 31, 2013 | 2,791,556 | $ | 7.49 | ||||||||||||||||||||||
Summary of Information about Stock Options Outstanding and Exercisable | ' | ||||||||||||||||||||||||
The following table summarizes information about stock options outstanding and exercisable at August 31, 2013: | |||||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Remaining | Weighted- | Number | Remaining | Weighted- | |||||||||||||||||||||
Range of | Number | Contractual | Average | Vested and | Contractual | Average | |||||||||||||||||||
Exercise Price | Outstanding | Life | Exercise Price | Exercisable | Life | Exercise Price | |||||||||||||||||||
$1.95 | 415,331 | 2.26 | $ | 1.95 | 415,331 | 2.26 | $ | 1.95 | |||||||||||||||||
$3.90 - $4.05 | 301,492 | 2.5 | 3.91 | 301,492 | 2.5 | 3.91 | |||||||||||||||||||
$6.75 | 808,211 | 5.29 | 6.75 | 761,705 | 5.2 | 6.75 | |||||||||||||||||||
$7.32 | 192,940 | 7.29 | 7.32 | 127,585 | 7.29 | 7.32 | |||||||||||||||||||
$16.77 | 160,536 | 7.78 | 16.77 | 72,990 | 7.76 | 16.77 | |||||||||||||||||||
$17.16 | 79,028 | 7.88 | 17.16 | 33,951 | 7.88 | 17.16 | |||||||||||||||||||
$12.71 | 36,442 | 8.29 | 12.71 | 12,454 | 8.22 | 12.71 | |||||||||||||||||||
$12.10 | 46,664 | 8.49 | 12.1 | 46,664 | 8.49 | 12.1 | |||||||||||||||||||
$13.00 | 444,817 | 8.49 | 13 | - | - | - | |||||||||||||||||||
$8.97 | 750 | 8.8 | 8.97 | 225 | 8.8 | 8.97 | |||||||||||||||||||
$6.66 | 11,666 | 8.98 | 6.66 | - | - | - | |||||||||||||||||||
$3.60 - $7.70 | 25,350 | 9.03 | 5.7 | 12,300 | 8.86 | 7.7 | |||||||||||||||||||
$3.94 | 24,000 | 9.25 | 3.94 | - | - | - | |||||||||||||||||||
$3.32 | 64,163 | 9.42 | 3.32 | - | - | - | |||||||||||||||||||
$3.49 | 1,500 | 9.44 | 3.49 | - | - | - | |||||||||||||||||||
$1.40 - $3.30 | 178,666 | 9.81 | 3.18 | - | - | - | |||||||||||||||||||
2,791,556 | 1,784,697 | ||||||||||||||||||||||||
Summary of Restricted Stock Transactions under Option Plans | ' | ||||||||||||||||||||||||
The following summarizes the restricted stock transactions under the Equity Plans for the periods presented: | |||||||||||||||||||||||||
Weighted | |||||||||||||||||||||||||
Average | |||||||||||||||||||||||||
Grant Date | |||||||||||||||||||||||||
Shares | Fair Value | ||||||||||||||||||||||||
Restricted stock outstanding and unvested at August 31, 2011 | 833 | $ | 6.51 | ||||||||||||||||||||||
Restricted stock granted | 45,100 | 12.16 | |||||||||||||||||||||||
Restricted stock vested | (833 | ) | 6.51 | ||||||||||||||||||||||
Restricted stock forfeited | (4,500 | ) | 12.71 | ||||||||||||||||||||||
Restricted stock outstanding and unvested at August 31, 2012 | 40,600 | 12.1 | |||||||||||||||||||||||
Restricted stock granted | 288,375 | 5.24 | |||||||||||||||||||||||
Restricted stock vested | (19,100 | ) | 11.42 | ||||||||||||||||||||||
Restricted stock forfeited | (19,175 | ) | 8.81 | ||||||||||||||||||||||
Restricted stock outstanding and unvested at August 31, 2013 | 290,700 | $ | 5.55 | ||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Aug. 31, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Schedule of Income Tax Expense (Benefit) Attributable to Income (Loss) before Income Taxes | ' | ||||||||||||
Income tax expense (benefit) attributable to loss before income taxes consisted of the following: | |||||||||||||
Current | Deferred | Total | |||||||||||
Year ended August 31, 2013 | |||||||||||||
U.S. federal | $ | - | $ | - | $ | - | |||||||
State and local | 1 | - | 1 | ||||||||||
$ | 1 | $ | - | $ | 1 | ||||||||
Current | Deferred | Total | |||||||||||
Year ended August 31, 2012 | |||||||||||||
U.S. federal | $ | - | $ | - | $ | - | |||||||
State and local | 3 | - | 3 | ||||||||||
$ | 3 | $ | - | $ | 3 | ||||||||
Current | Deferred | Total | |||||||||||
Year ended August 31, 2011 | |||||||||||||
U.S. federal | $ | (30 | ) | $ | - | $ | (30 | ) | |||||
State and local | (1 | ) | - | (1 | ) | ||||||||
$ | (31 | ) | $ | - | $ | (31 | ) | ||||||
Schedule of Income Tax Expense Differs from Amount Computed by Applying Federal Income Tax Rate | ' | ||||||||||||
Income tax expense differs from the amount computed by applying the federal corporate income tax rate of 34% to the loss before income taxes due to the following: | |||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||
August 31, | August 31, | August 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Computed "expected" tax expense (benefit) | $ | (11,054 | ) | $ | (9,999 | ) | $ | (12,365 | ) | ||||
Increase (reduction) in income taxes resulting from: | |||||||||||||
Stock-based compensation | 876 | 636 | 893 | ||||||||||
State and local income taxes, net of federal income tax benefit | 1 | 2 | (1 | ) | |||||||||
Foreign rate differential | - | 1,258 | 512 | ||||||||||
Convertible note changes and change in fair value | - | - | 750 | ||||||||||
Warrants modification and changes in fair value | - | 29 | 2,997 | ||||||||||
Other | 17 | 182 | 7 | ||||||||||
Change in valuation allowance | 10,161 | 7,895 | 7,176 | ||||||||||
Income tax expense (benefit) | $ | 1 | $ | 3 | $ | (31 | ) | ||||||
Summary of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The following table summarizes the tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at each period end: | |||||||||||||
August 31, | August 31, | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accrued liabilities | $ | 163 | $ | 799 | |||||||||
Other assets | 77 | 17 | |||||||||||
Inventory capitalization | 265 | 145 | |||||||||||
Deferred revenue | - | 275 | |||||||||||
Total current deferred tax assets | 505 | 1,236 | |||||||||||
Noncurrent assets: | |||||||||||||
Depreciation | 2,150 | 2,044 | |||||||||||
Inventory reserves | 2,427 | 2,328 | |||||||||||
Deferred rent | 36 | 27 | |||||||||||
Other assets | 568 | 301 | |||||||||||
Net operating loss carryforward | 88,791 | 74,412 | |||||||||||
Federal and state tax credit carryforward | 8,919 | 8,919 | |||||||||||
Total noncurrent deferred tax assets | 102,891 | 88,031 | |||||||||||
Total deferred tax assets | 103,396 | 89,267 | |||||||||||
Less valuation allowance | (103,396 | ) | (89,267 | ) | |||||||||
Net deferred tax assets | $ | - | $ | - | |||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Aug. 31, 2013 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Schedule of Future Minimum Payments under Noncancelable Operating Leases | ' | ||||
Future minimum payments under noncancelable operating leases as of August 31, 2013 are as follows: | |||||
Operating | |||||
leases | |||||
2014 | $ | 595 | |||
2015 | 548 | ||||
2016 | 550 | ||||
2017 | 559 | ||||
2018 | 575 | ||||
Thereafter | 688 | ||||
Total minimum lease payments | $ | 3,515 | |||
Research_Collaboration_Agreeme1
Research Collaboration Agreements (Tables) | 12 Months Ended | ||||
Aug. 31, 2013 | |||||
Research Collaboration Agreements [Abstract] | ' | ||||
Schedule of Future Minimum Payments under Company's Research Collaboration | ' | ||||
At August 31, 2013, the future minimum payments under the Company's research collaboration agreements are as follows: | |||||
2014 | $ | 3,041 | |||
2015 | 2,977 | ||||
2016 | 2,966 | ||||
2017 | 613 | ||||
$ | 9,597 | ||||
Selected_Quarterly_Financial_I1
Selected Quarterly Financial Information (unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Aug. 31, 2013 | |||||||||||||||||
Selected Quarterly Financial Information (unaudited) [Abstract] | ' | ||||||||||||||||
Summary of Unaudited Quarterly Results of Operations | ' | ||||||||||||||||
The following is a summary of the unaudited quarterly results of operations for the years ended August 31, 2013 and 2012 | |||||||||||||||||
November 30, | February 29, | May 31, | August 31, | ||||||||||||||
2012 | 2013 | 2013 | 2013 | ||||||||||||||
2013:00:00 | |||||||||||||||||
Net sales | $ | 1,966 | $ | 1,026 | $ | 1,355 | $ | 898 | |||||||||
Cost of revenues | 700 | 2,280 | 2,134 | 1,132 | |||||||||||||
Operating loss | (6,921 | ) | (9,014 | ) | (9,317 | ) | (7,339 | ) | |||||||||
Net loss | (6,894 | ) | (8,966 | ) | (9,323 | ) | (7,331 | ) | |||||||||
Basic and diluted net loss per share | (0.28 | ) | (0.36 | ) | (0.38 | ) | (0.29 | ) | |||||||||
November 30, | February 29, | May 31, | August 31, | ||||||||||||||
2011 | 2012 | 2012 | 2012 | ||||||||||||||
2012:00:00 | |||||||||||||||||
Net sales | $ | 1,748 | $ | 1,311 | $ | 1,148 | $ | 1,164 | |||||||||
Cost of revenues | 763 | 487 | 627 | 507 | |||||||||||||
Operating loss | (7,094 | ) | (6,980 | ) | (8,078 | ) | (6,650 | ) | |||||||||
Net loss | (7,540 | ) | (6,831 | ) | (8,416 | ) | (6,623 | ) | |||||||||
Basic and diluted net loss per share | (3.73 | ) | (2.48 | ) | (0.34 | ) | (0.27 | ) | |||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 13 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 13 Months Ended | |||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Feb. 27, 2012 | Jan. 24, 2012 | Aug. 31, 2013 | 31-May-13 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | 31-May-12 | Feb. 29, 2012 | Nov. 30, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Feb. 27, 2012 | Feb. 27, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Nov. 30, 2013 | Dec. 31, 2011 | Dec. 20, 2007 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Dec. 16, 2008 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Jan. 31, 2010 | Aug. 31, 2012 | Nov. 30, 2013 |
Rate | Convertible Subordinated Note [Member] | Convertible Preferred Stock [Member] | Development and License Agreement [Member] | Development and License Agreement [Member] | Development and License Agreement [Member] | Development and License Agreement [Member] | Development and License Agreement [Member] | Development and License Agreement [Member] | Several Agreements [Member] | Several Agreements [Member] | Several Agreements [Member] | Software License and Collaboration Agreement [Member] | Software License and Collaboration Agreement [Member] | Software License and Collaboration Agreement [Member] | Software License and Collaboration Agreement [Member] | Ceres Sementes do Brasil Ltda [Member] | Buildings [Member] | Buildings [Member] | |||||||||||||
Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.90% | ' | ' |
Reverse stock split ratio | ' | 0.3333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share issued in initial public offering | 5,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Underwriters exercise of public offering over-allotment, shares | 750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
IPO price, per share | $13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance shares under initial public offering | $65,158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $65,158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Convertible Securities, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,098,575 | 15,353,221 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of preferred stock warrants to purchase common stock | 20,511 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ' | ' | -7,331 | -9,323 | -8,966 | -6,894 | -6,623 | -8,416 | -6,831 | -7,540 | -32,511 | -29,410 | -36,336 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated deficit | ' | ' | -274,584 | ' | ' | ' | -242,073 | ' | ' | ' | -274,584 | -242,073 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash equivalents | ' | ' | 8,881 | ' | ' | ' | 16,769 | ' | ' | ' | 8,881 | 16,769 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property repair cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150 |
Impairment of long lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,026 | ' |
Proceeds from insurance to cover repair costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' |
Gain on termination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 550 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collaborative research and government grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,781 | 4,939 | 6,500 | ' | ' | 758 | 933 | 1,683 | ' | ' | ' | 2,355 | 2,416 | 3,120 | ' | 1,180 | 750 | 243 | ' | ' | ' |
Proceeds from license fee and milestone payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500 | 7,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
License agreement term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grants receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,288 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected receivables from collaborative agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,500 | ' | ' | ' | ' | ' | ' |
Receivables from agreement payment term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years 6 months | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Schedule of Financial Assets Measured at Fair Value on Recurring Basis) (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | $22,829 | $39,285 |
Cash and cash equivalents [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Commercial paper | 1,199 | ' |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Total | 25,139 | 56,054 |
Fair Value, Measurements, Recurring [Member] | Money market funds [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Money market funds | 2,310 | 16,769 |
Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | 4,555 | ' |
Fair Value, Measurements, Recurring [Member] | Commercial Paper [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | 2,198 | 10,187 |
Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | 16,076 | 29,098 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Total | 2,310 | 16,769 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money market funds [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Money market funds | 2,310 | 16,769 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | ' | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Paper [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | ' | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate bonds [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | ' | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Total | 22,829 | 39,285 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money market funds [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Money market funds | ' | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | 4,555 | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | 2,198 | 10,187 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate bonds [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | 16,076 | 29,098 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Total | ' | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money market funds [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Money market funds | ' | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | ' | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | ' | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate bonds [Member] | ' | ' |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ' | ' |
Available for sale | ' | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Schedule of Customers Representing Greater than Ten Percent of Accounts Receivable) (Details) (Accounts receivables [Member]) | 12 Months Ended | |||
Aug. 31, 2013 | Aug. 31, 2012 | |||
Customer A [Member] | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Concentration risk, percentage | 37.30% | 47.90% | ||
Customer B [Member] | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Concentration risk, percentage | 23.10% | ' | [1] | |
Customer D [Member] | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Concentration risk, percentage | ' | [2] | 13.60% | |
Customer E [Member] | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Concentration risk, percentage | ' | [1] | 15.20% | |
Customer F [Member] | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Concentration risk, percentage | 21.80% | ' | [2] | |
[1] | * Less than 10% | |||
[2] | ** No balance |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies (Schedule of Customers Representing Greater than Ten Percent of Revenues) (Details) (Revenues [Member]) | 12 Months Ended | |||||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | ||||
Customer A [Member] | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | |||
Concentration risk, percentage | 21.20% | 24.70% | 20.50% | |||
Customer B [Member] | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | |||
Concentration risk, percentage | 20.20% | 16.80% | 16.60% | |||
Customer C [Member] | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | |||
Concentration risk, percentage | ' | [1] | ' | [2] | 20.90% | |
Customer D [Member] | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | |||
Concentration risk, percentage | 14.50% | 17.40% | 25.40% | |||
Customer F [Member] | ' | ' | ' | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | |||
Concentration risk, percentage | 22.50% | 14.00% | ' | [2] | ||
[1] | ** No revenue | |||||
[2] | * Less than 10% |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies (Schedule of Depreciation Periods for Property and Equipment) (Details) | 12 Months Ended |
Aug. 31, 2013 | |
Automobiles and Trucks [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment useful life | '3 years |
Automobiles and Trucks [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment useful life | '5 years |
Office, Laboratory, Farm and Warehouse Equipment and Furniture [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment useful life | '3 years |
Office, Laboratory, Farm and Warehouse Equipment and Furniture [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment useful life | '5 years |
Leasehold Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment useful life | '3 years |
Leasehold Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment useful life | '10 years |
Buildings [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment useful life | '14 years |
Buildings [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment useful life | '39 years |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies (Summary of Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Balance | ($283) | ($27) |
Comprehensive (loss) gain | -413 | -256 |
Balance | -696 | -283 |
Foreign Currency Translation [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Balance | -289 | -27 |
Comprehensive (loss) gain | -395 | -262 |
Balance | -684 | -289 |
Unrealized Gains (Losses) on Securities [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Balance | 6 | ' |
Comprehensive (loss) gain | -18 | 6 |
Balance | ($12) | $6 |
Summary_of_Significant_Account9
Summary of Significant Accounting Policies (Summary of Computation of Basic and Diluted Net Loss Per Common Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Aug. 31, 2013 | 31-May-13 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | 31-May-12 | Feb. 29, 2012 | Nov. 30, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Summary of Significant Accounting Policies [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ($7,331) | ($9,323) | ($8,966) | ($6,894) | ($6,623) | ($8,416) | ($6,831) | ($7,540) | ($32,511) | ($29,410) | ($36,336) |
Basic and diluted net loss per common share | ($0.29) | ($0.38) | ($0.36) | ($0.28) | ($0.27) | ($0.34) | ($2.48) | ($3.73) | ($1.31) | ($2.18) | ($18.34) |
Basic and diluted weighted average outstanding common shares used for net loss | ' | ' | ' | ' | ' | ' | ' | ' | 24,796,030 | 13,488,336 | 1,981,627 |
Recovered_Sheet1
Summary of Significant Accounting Policies (Schedule of Potentially Dilutive, Common Share Equivalents Excluded from Calculation of Diluted Net Loss Per Common Share) (Details) | 12 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potentially dilutive securities excluded from computation of earnings per share | 4,873,601 | 4,860,553 | 21,137,708 |
Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potentially dilutive securities excluded from computation of earnings per share | 2,791,556 | 2,778,508 | 2,597,285 |
Common Stock Warrants [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potentially dilutive securities excluded from computation of earnings per share | 2,082,045 | 2,082,045 | 1,994,868 |
Convertible Preferred Stock Warrants [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potentially dilutive securities excluded from computation of earnings per share | ' | ' | 20,511 |
Convertible Preferred Stock [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potentially dilutive securities excluded from computation of earnings per share | ' | ' | 15,353,226 |
Convertible Subordinated Note [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potentially dilutive securities excluded from computation of earnings per share | ' | ' | 1,171,818 |
Marketable_Securities_Schedule
Marketable Securities (Schedule of Available for Sale Securities) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $22,841 | $39,279 |
Gross Unrealized Gain | 2 | 19 |
Gross Unrealized Loss | -14 | -13 |
Fair Value | 22,829 | 39,285 |
Cash and cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Commercial paper | 1,199 | ' |
Certificates of Deposit [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4,561 | ' |
Gross Unrealized Gain | ' | ' |
Gross Unrealized Loss | -6 | ' |
Fair Value | 4,555 | ' |
Commercial Paper [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 2,199 | 10,187 |
Gross Unrealized Gain | ' | 2 |
Gross Unrealized Loss | -1 | -2 |
Fair Value | 2,198 | 10,187 |
Corporate Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 16,081 | 29,092 |
Gross Unrealized Gain | 2 | 17 |
Gross Unrealized Loss | -7 | -11 |
Fair Value | $16,076 | $29,098 |
Marketable_Securities_Summary_
Marketable Securities (Summary of Amortized Cost and Fair Value of Marketable Securities, Classified by Stated Maturity) (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Marketable securities, amortized cost | ' | ' |
Due in 1 year or less | $22,841 | $33,567 |
Due in 1 - 2 years | ' | 5,712 |
Marketable Securities, Debt Maturities, Amortized Cost, Total | 22,841 | 39,279 |
Marketable securities, fair value | ' | ' |
Due in 1 year or less | 22,829 | 33,565 |
Due in 1 - 2 years | ' | 5,720 |
Marketable Securities, Debt Maturities, Fair Value, Total | $22,829 | $39,285 |
Inventories_Details
Inventories (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Work in process | $20 | $264 |
Seed inventory | ' | 577 |
Total inventories | $20 | $841 |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | $24,527 | $25,284 |
Less accumulated depreciation | -19,894 | -19,528 |
Property and equipment, net | 4,633 | 5,756 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 43 | 43 |
Automobiles and Trucks [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 796 | 728 |
Buildings [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 3,180 | 3,252 |
Office, Laboratory, Farm and Warehouse Equipment and Furniture [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 14,792 | 15,552 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | $5,716 | $5,709 |
Accounts_Payable_and_Accrued_E2
Accounts Payable and Accrued Expenses (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Payable and Accrued Expenses [Abstract] | ' | ' |
Accounts payable | $1,289 | $1,865 |
Accrued payroll and related expenses | 1,020 | 2,530 |
Research and development contracts | 1,098 | 686 |
Accrued grower commitments | 38 | 76 |
Other | 380 | 319 |
Accounts payable and accrued expenses | $3,825 | $5,476 |
LongTerm_Debt_Summary_of_LongT
Long-Term Debt (Summary of Long-Term Debt) (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Line Items] | ' | ' |
Long-term Debt | $236 | $390 |
Less current portion | -154 | -134 |
Long-term debt, net of current portion | 82 | 256 |
Capital Leases [Member] | ' | ' |
Debt Disclosure [Line Items] | ' | ' |
Long-term Debt | $236 | $390 |
LongTerm_Debt_Summary_of_Aggre
Long-Term Debt (Summary of Aggregated Maturities of Debt) (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Long-Term Debt [Abstract] | ' | ' |
2014 | $154 | ' |
2015 | 73 | ' |
2016 | 9 | ' |
Long-term Debt | $236 | $390 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2012 | Aug. 31, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Jun. 30, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Restricted Stock [Member] | Stock Option [Member] | Stock Option [Member] | Ceres, Inc. 2011 Equity Incentive Plan [Member] | Ceres, Inc. 2011 Equity Incentive Plan [Member] | Weighted Average [Member] | Weighted Average [Member] | Weighted Average [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Modification of options to purchase shares of common stock | 403,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Modification charge | $157 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation, shares reserved for issuance | ' | ' | 6,754,999 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation, increase in shares reserved for issuance | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation, shares available for future grant | ' | ' | ' | ' | ' | ' | ' | ' | 1,916,292 | ' | ' | ' |
Common stock granted during period | ' | ' | ' | ' | ' | ' | ' | 60,000 | ' | ' | ' | ' |
Weighted average grant date fair value of options | ' | $8.16 | $2.64 | $10.40 | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value of common stock | ' | ' | ' | ' | ' | ' | ' | $3.33 | ' | $3.63 | $14.44 | $11.97 |
Tax benefit realized from options exercised | ' | ' | ' | 32 | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock compensation expense | ' | ' | ' | ' | 1,064 | 5,389 | 8,189 | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation expense, weighted average period of recognition | ' | ' | ' | ' | '2 years 1 month 2 days | '3 years 22 days | ' | ' | ' | ' | ' | ' |
Stock grant expense | ' | ' | ' | ' | ' | ' | ' | ' | $200 | ' | ' | ' |
StockBased_Compensation_Fair_V
Stock-Based Compensation (Fair Value of Employee Stock Options Estimated Using Weighted Average Assumptions) (Details) | 12 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected term (in years) | '5 years 6 months | '5 years 6 months | '6 years 0 months 29 days |
Expected volatility | 87.00% | 78.00% | 70.00% |
Risk free interest rate | 0.82% | 0.88% | 1.48% |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected term (in years) | '6 years 29 days | '6 years 5 months 16 days | '6 years 5 months 16 days |
Expected volatility | 88.00% | 81.00% | 78.00% |
Risk free interest rate | 1.96% | 1.35% | 2.44% |
StockBased_Compensation_StockB
Stock-Based Compensation (Stock-Based Compensation Costs Included in Operating Expenses and Total Intrinsic Value of Options Exercised) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation costs | $3,310 | $1,909 | $2,710 |
Intrinsic value of stock options exercised | 79 | 3,573 | 632 |
Employee Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation costs | 3,624 | 2,464 | 1,478 |
Collaboration warrants [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation costs | ($314) | ($555) | $1,232 |
StockBased_Compensation_Summar
Stock-Based Compensation (Summary of Stock Option Transactions under Option Plans) (Details) (USD $) | 12 Months Ended | |
Aug. 31, 2013 | Aug. 31, 2012 | |
Shares | ' | ' |
Options outstanding | 2,778,508 | 2,597,285 |
Options granted | 315,064 | 623,645 |
Options exercised | -23,832 | -298,282 |
Options forfeited | -278,184 | -144,140 |
Options outstanding | 2,791,556 | 2,778,508 |
Weighted Average Exercise Price | ' | ' |
Options outstanding | $7.92 | $6.06 |
Options granted | $3.63 | $12.77 |
Options exercised | $2.36 | $2.11 |
Options forfeited | $7.87 | $7.34 |
Options outstanding | $7.49 | $7.92 |
StockBased_Compensation_Summar1
Stock-Based Compensation (Summary of Information about Stock Options Outstanding and Exercisable) (Details) (USD $) | 12 Months Ended |
Aug. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number Outstanding | 2,791,556 |
Number Vested and Exercisable | 1,784,697 |
Exercise Price 1 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $1.95 |
Number Outstanding | 415,331 |
Average Remaining Contractual Life | '2 years 3 months 4 days |
Weighted-Average Exercise Price | $1.95 |
Number Vested and Exercisable | 415,331 |
Average Remaining Contractual Life | '2 years 3 months 4 days |
Weighted-Average Exercise Price | $1.95 |
Exercise Price 2 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number Outstanding | 301,492 |
Average Remaining Contractual Life | '2 years 6 months |
Weighted-Average Exercise Price | $3.91 |
Number Vested and Exercisable | 301,492 |
Average Remaining Contractual Life | '2 years 6 months |
Weighted-Average Exercise Price | $3.91 |
Exercise Price 2 [Member] | Minimum [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $3.90 |
Exercise Price 2 [Member] | Maximum [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $4.05 |
Exercise Price 3 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $6.75 |
Number Outstanding | 808,211 |
Average Remaining Contractual Life | '5 years 3 months 15 days |
Weighted-Average Exercise Price | $6.75 |
Number Vested and Exercisable | 761,705 |
Average Remaining Contractual Life | '5 years 2 months 12 days |
Weighted-Average Exercise Price | $6.75 |
Exercise Price 4 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $7.32 |
Number Outstanding | 192,940 |
Average Remaining Contractual Life | '7 years 3 months 15 days |
Weighted-Average Exercise Price | $7.32 |
Number Vested and Exercisable | 127,585 |
Average Remaining Contractual Life | '7 years 3 months 15 days |
Weighted-Average Exercise Price | $7.32 |
Exercise Price 5 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $16.77 |
Number Outstanding | 160,536 |
Average Remaining Contractual Life | '7 years 9 months 11 days |
Weighted-Average Exercise Price | $16.77 |
Number Vested and Exercisable | 72,990 |
Average Remaining Contractual Life | '7 years 9 months 4 days |
Weighted-Average Exercise Price | $16.77 |
Exercise Price 6 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $17.16 |
Number Outstanding | 79,028 |
Average Remaining Contractual Life | '7 years 10 months 17 days |
Weighted-Average Exercise Price | $17.16 |
Number Vested and Exercisable | 33,951 |
Average Remaining Contractual Life | '7 years 10 months 17 days |
Weighted-Average Exercise Price | $17.16 |
Exercise Price 7 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $12.71 |
Number Outstanding | 36,442 |
Average Remaining Contractual Life | '8 years 3 months 15 days |
Weighted-Average Exercise Price | $12.71 |
Number Vested and Exercisable | 12,454 |
Average Remaining Contractual Life | '8 years 2 months 19 days |
Weighted-Average Exercise Price | $12.71 |
Exercise Price 8 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $12.10 |
Number Outstanding | 46,664 |
Average Remaining Contractual Life | '8 years 5 months 27 days |
Weighted-Average Exercise Price | $12.10 |
Number Vested and Exercisable | 46,664 |
Average Remaining Contractual Life | '8 years 5 months 27 days |
Weighted-Average Exercise Price | $12.10 |
Exercise Price 9 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $13 |
Number Outstanding | 444,817 |
Average Remaining Contractual Life | '8 years 5 months 27 days |
Weighted-Average Exercise Price | $13 |
Number Vested and Exercisable | ' |
Average Remaining Contractual Life | ' |
Weighted-Average Exercise Price | ' |
Exercise Price 10 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $8.97 |
Number Outstanding | 750 |
Average Remaining Contractual Life | '8 years 9 months 18 days |
Weighted-Average Exercise Price | $8.97 |
Number Vested and Exercisable | 225 |
Average Remaining Contractual Life | '8 years 9 months 18 days |
Weighted-Average Exercise Price | $8.97 |
Exercise Price 11 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $6.66 |
Number Outstanding | 11,666 |
Average Remaining Contractual Life | '8 years 11 months 23 days |
Weighted-Average Exercise Price | $6.66 |
Number Vested and Exercisable | ' |
Average Remaining Contractual Life | ' |
Weighted-Average Exercise Price | ' |
Exercise Price 12 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number Outstanding | 25,350 |
Average Remaining Contractual Life | '9 years 11 days |
Weighted-Average Exercise Price | $5.70 |
Number Vested and Exercisable | 12,300 |
Average Remaining Contractual Life | '8 years 10 months 10 days |
Weighted-Average Exercise Price | $7.70 |
Exercise Price 12 [Member] | Minimum [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $3.60 |
Exercise Price 12 [Member] | Maximum [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $7.70 |
Exercise Price 13 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $3.94 |
Number Outstanding | 24,000 |
Average Remaining Contractual Life | '9 years 3 months |
Weighted-Average Exercise Price | $3.94 |
Number Vested and Exercisable | ' |
Average Remaining Contractual Life | ' |
Weighted-Average Exercise Price | ' |
Exercise Price 14 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $3.32 |
Number Outstanding | 64,163 |
Average Remaining Contractual Life | '9 years 5 months 1 day |
Weighted-Average Exercise Price | $3.32 |
Number Vested and Exercisable | ' |
Average Remaining Contractual Life | ' |
Weighted-Average Exercise Price | ' |
Exercise Price 15 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $3.49 |
Number Outstanding | 1,500 |
Average Remaining Contractual Life | '9 years 5 months 9 days |
Weighted-Average Exercise Price | $3.49 |
Number Vested and Exercisable | ' |
Average Remaining Contractual Life | ' |
Weighted-Average Exercise Price | ' |
Exercise Price 16 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number Outstanding | 178,666 |
Average Remaining Contractual Life | '9 years 9 months 22 days |
Weighted-Average Exercise Price | $3.18 |
Number Vested and Exercisable | ' |
Average Remaining Contractual Life | ' |
Weighted-Average Exercise Price | ' |
Exercise Price 16 [Member] | Minimum [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $1.40 |
Exercise Price 16 [Member] | Maximum [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of Exercise Price | $3.30 |
StockBased_Compensation_Summar2
Stock-Based Compensation (Summary of Restricted Stock Transactions under Option Plans) (Details) (Restricted Stock [Member], USD $) | 12 Months Ended | |
Aug. 31, 2013 | Aug. 31, 2012 | |
Restricted Stock [Member] | ' | ' |
Shares | ' | ' |
Restricted stock outstanding and unvested | 40,600 | 833 |
Restricted stock granted | 288,375 | 45,100 |
Restricted stock vested | -19,100 | -833 |
Restricted stock forfeited | -19,175 | -4,500 |
Restricted stock outstanding and unvested | 290,700 | 40,600 |
Weighted Average Exercise Price | ' | ' |
Restricted stock outstanding and unvested | $12.10 | $6.51 |
Restricted stock granted | $5.24 | $12.16 |
Restricted stock vested | $11.42 | $6.51 |
Restricted stock forfeited | $8.81 | $12.71 |
Restricted stock outstanding and unvested | $5.55 | $12.10 |
Convertible_Notes_and_Warrant_1
Convertible Notes and Warrant Modification (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Feb. 27, 2012 | Aug. 31, 2011 | Aug. 31, 2011 | Feb. 27, 2012 | Aug. 31, 2011 |
Modified F Warrants [Member] | Non-Modified F Warrants [Member] | Convertible Subordinated Note [Member] | Convertible Subordinated Note [Member] | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Issue of convertible subordinate notes | ' | ' | $11,425 | ' | ' | ' | ' | $11,425 |
Conversion of debt into common stock, percentage of discount to the IPO price | ' | ' | ' | ' | ' | ' | ' | 20.00% |
Conversion of debt into common stock price per share | ' | ' | ' | ' | ' | ' | ' | $10.40 |
Percentage of capital stock and affiliates | ' | ' | ' | ' | ' | ' | ' | 5.00% |
Warrant issued to purchase stock | ' | ' | ' | ' | 539,972 | 229,257 | ' | ' |
Charge for modification of liability classified warrants | ' | ' | 9,633 | ' | ' | ' | ' | ' |
Fair value of convertible notes | $13,630 | ' | ' | $14,282 | ' | ' | ' | ' |
Conversion of Convertible Securities, shares | ' | ' | ' | ' | ' | ' | 1,098,575 | ' |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||||||||||
Feb. 27, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Feb. 27, 2012 | Feb. 27, 2012 | Sep. 30, 2007 | Aug. 31, 2011 | Aug. 31, 2011 | Feb. 27, 2012 | Jun. 30, 2010 | Jun. 30, 2011 | 31-May-06 | Aug. 31, 2013 | Jun. 30, 2011 | 31-May-06 | Jun. 30, 2011 | 31-May-06 | 31-May-06 | 31-May-06 | Aug. 31, 2007 | Aug. 31, 2013 | Dec. 31, 2011 | Aug. 31, 2013 | Feb. 27, 2012 | Feb. 27, 2012 | Jul. 31, 2004 | Feb. 27, 2012 | Feb. 27, 2012 | Feb. 27, 2012 | Feb. 28, 2010 | Feb. 27, 2012 | Feb. 27, 2012 | |
Convertible Subordinated Note [Member] | Series F Convertible Preferred Stock Warrants [Member] | Series F Convertible Preferred Stock Warrants [Member] | Non-Modified F Warrants [Member] | Modified F Warrants [Member] | Series G Convertible Preferred Stock Warrants [Member] | Series G Convertible Preferred Stock Warrants [Member] | Noble Agreement Warrants [Member] | Noble Agreement Warrants [Member] | Noble Agreement Warrants [Member] | Noble Agreement Warrants [Member] | Noble Agreement Warrants [Member] | Noble Agreement Warrants [Member] | Noble Agreement Warrants [Member] | Noble Agreement Warrants [Member] | Noble Agreement Warrants [Member] | Texas A and M University System Agreement Warrants [Member] | Texas A and M University System Agreement Warrants [Member] | Texas A and M University System Agreement Warrants [Member] | Texas A and M University System Agreement Warrants [Member] | Convertible Preferred Stock [Member] | Series E Preferred Stock [Member] | Series E Preferred Stock [Member] | Series E Preferred Stock [Member] | Series E Preferred Stock [Member] | Series F Preferred Stock [Member] | Series F Preferred Stock [Member] | Series F Preferred Stock [Member] | Series F Preferred Stock [Member] | |||||
Period 1 [Member] | Period 1 [Member] | Period 2 [Member] | Period 2 [Member] | Period 3 [Member] | Period 4 [Member] | Sponsored Research and Intellectual Property Rights Agreement [Member] | Sponsored Research and Intellectual Property Rights Agreement [Member] | Ip Rights Agreement [Member] | Ip Rights Agreement [Member] | Borrowing and Loan Agreements Warrants [Member] | Borrowing and Loan Agreements Warrants [Member] | Borrowing and Loan Agreements Warrants [Member] | Borrowing and Loan Agreements Warrants [Member] | Borrowing and Loan Agreements Warrants [Member] | Borrowing and Loan Agreements Warrants [Member] | Borrowing and Loan Agreements Warrants [Member] | Borrowing and Loan Agreements Warrants [Member] | ||||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||
Stockholders Equity Note Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
IPO price, per share | $13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $19.50 | ' | ' | ' | $19.50 | ' | ' | ' |
Conversion of Convertible Securities, shares | ' | ' | ' | ' | 1,098,575 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,353,221 | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of preferred stock warrants to purchase common stock | 20,511 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,153 | ' | ' | ' | 14,358 | ' | ' | ' |
Common Stock, shares authorized | ' | 490,000,000 | 490,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant issued to purchase stock | ' | ' | ' | ' | ' | ' | 769,229 | 229,257 | 539,972 | ' | 1,025,640 | ' | 133,333 | ' | ' | ' | ' | ' | ' | ' | 66,666 | ' | 66,666 | ' | ' | ' | 18,461 | ' | ' | ' | 43,076 | ' | ' |
Exercise price of warrants issued | ' | ' | ' | ' | ' | ' | 19.5 | ' | ' | ' | 19.5 | ' | 30 | ' | ' | ' | ' | ' | ' | ' | 30 | ' | 14.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value of warrants | ' | ' | ' | ' | ' | $6,301,000 | ' | ' | ' | $10,633,000 | ' | ' | ' | $1,000 | ' | ' | ' | ' | ' | ' | ' | $2,400 | ' | $49,700 | ' | $68,000 | ' | ' | ' | $158,000 | ' | ' | ' |
Estimated fair value of warrants, risk free rate | ' | ' | ' | ' | ' | 0.40% | ' | ' | ' | 1.64% | ' | ' | ' | 1.21% | ' | ' | ' | ' | ' | ' | ' | 1.19% | ' | 2.78% | ' | 1.35% | ' | ' | ' | 1.35% | ' | ' | ' |
Estimated fair value of warrants, volatility rate | ' | ' | ' | ' | ' | 89.00% | ' | ' | ' | 73.00% | ' | ' | ' | 73.30% | ' | ' | ' | ' | ' | ' | ' | 73.30% | ' | 78.90% | ' | 81.00% | ' | ' | ' | 81.00% | ' | ' | ' |
Estimated fair value of warrants, expected term | ' | ' | ' | ' | ' | '3 years 6 months | ' | ' | ' | '8 years 3 months 18 days | ' | ' | ' | '3 years 8 months 19 days | ' | ' | ' | ' | ' | ' | ' | '3 years 11 months 27 days | ' | '13 years 22 days | ' | ' | ' | '7 years 11 months 16 days | '8 years 4 days | ' | ' | '7 years 11 months 16 days | '8 years 4 days |
Estimated fair value of warrants, dividend Yield rate | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | 0.00% | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | 0.00% | ' | 0.00% | ' | ' | ' | 0.00% | ' | ' | ' |
Warrant issued, number of shares vesting in equal installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,333 | 33,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of warrant or right number of shares vesting in equal installments, date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19-May-13 | 19-May-09 | 19-May-15 | 19-May-11 | 19-May-13 | 19-May-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant issued, earliest exercisable period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in value of warrants recognized as research and development expense | ' | $16,401,000 | $19,155,000 | $19,014,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $625,000 | ' | ' | ' | ' | ' | ' | ' | $2,000 | ' | $10,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant issued, vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99,999 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant issued, expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18-May-17 | ' | ' | ' | ' | ' | ' | ' | ' | 28-Aug-17 | ' | 24-Sep-26 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Income_Tax_Expens
Income Taxes (Income Tax Expense (Benefit) Attributable to Income (Loss) before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Current Income Tax Expense Benefit | ' | ' | ' |
U.S. federal | ' | ' | ($30) |
State and local | 1 | 3 | -1 |
Current Income Tax Expense (Benefit), Total | 1 | 3 | -31 |
Deferred Income Tax Expense | ' | ' | ' |
U.S. federal | ' | ' | ' |
State and local | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Total | ' | ' | ' |
Income Tax Expense Benefit | ' | ' | ' |
U.S. federal | ' | ' | -30 |
State and local | 1 | 3 | -1 |
Income tax expense (benefit) | $1 | $3 | ($31) |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 |
Income Taxes [Line Items] | ' | ' |
Federal income tax rate | 34.00% | ' |
Excess tax benefits associated with the exercise of non-qualified stock options, restricted stock grants, and disqualifying dispositions of incentive stock option stock | $2,458 | $2,367 |
Valuation allowance | 103,396 | 89,267 |
Internal Revenue Service (IRS) [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards | 223,205 | ' |
Internal Revenue Service (IRS) [Member] | Research Tax Credit Carryforward [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Tax credit carryforwards | 8,907 | ' |
Tax credit carryforwards, expiration date | '2029 | ' |
Internal Revenue Service (IRS) [Member] | Minimum [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards expiration date | '2018 | ' |
Internal Revenue Service (IRS) [Member] | Maximum [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards expiration date | '2033 | ' |
State and Local Jurisdiction [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards | 152,667 | ' |
State and Local Jurisdiction [Member] | Alternative Minimum Tax [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Tax credit carryforwards | 17 | ' |
State and Local Jurisdiction [Member] | Minimum [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards expiration date | '2014 | ' |
State and Local Jurisdiction [Member] | Maximum [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards expiration date | '2033 | ' |
Foreign Tax Authority [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards | $14,625 | ' |
Income_Taxes_Income_Tax_Expens1
Income Taxes (Income Tax Expense Differs from Amount Computed by Applying Federal Income Tax Rate) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Computed "expected" tax expense (benefit) | ($11,054) | ($9,999) | ($12,365) |
Stock-based compensation | 876 | 636 | 893 |
State and local income taxes, net of federal income tax benefit | 1 | 2 | -1 |
Foreign rate differential | ' | 1,258 | 512 |
Convertible note changes and change in fair value | ' | ' | 750 |
Warrants modification and changes in fair value | ' | 29 | 2,997 |
Other | 17 | 182 | 7 |
Change in valuation allowance | 10,161 | 7,895 | 7,176 |
Income tax expense (benefit) | $1 | $3 | ($31) |
Income_Taxes_Summary_of_Tax_Ef
Income Taxes (Summary of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Liabilities) (Details) (USD $) | Aug. 31, 2013 | Aug. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Accrued liabilities | $163 | $799 |
Other assets | 77 | 17 |
Inventory capitalization | 265 | 145 |
Deferred revenue | ' | 275 |
Total current deferred tax assets | 505 | 1,236 |
Noncurrent assets: | ' | ' |
Depreciation | 2,150 | 2,044 |
Inventory reserves | 2,427 | 2,328 |
Deferred rent | 36 | 27 |
Other assets | 568 | 301 |
Net operating loss carryforward | 88,791 | 74,412 |
Federal and state tax credit carryforward | 8,919 | 8,919 |
Total noncurrent deferred tax assets | 102,891 | 88,031 |
Total deferred tax assets | 103,396 | 89,267 |
Less valuation allowance | -103,396 | -89,267 |
Net deferred tax assets | ' | ' |
401k_Benefit_Plan_Details
401(k) Benefit Plan (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
401(k) Benefit Plan [Abstract] | ' | ' | ' |
Benefit plan, maximum percentage of employee contribution | 60.00% | ' | ' |
Benefit plan, percentage of employer matching contribution | 50.00% | ' | ' |
Benefit plan, maximum percentage the employer may contribute | 4.00% | ' | ' |
Benefit plan, percentage of employer matching contribution immediately vesting percentage | 25.00% | ' | ' |
Benefit plan, percentage of employer matching contribution annual vesting percentage | 25.00% | ' | ' |
Benefit plan, employer matching contribution vesting period | '3 years | ' | ' |
Benefit plan, recorded expense | $288 | $297 | $279 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Commitments and Contingencies [Abstract] | ' | ' | ' |
Operating lease expiration period | '2023 | ' | ' |
Reimbursement for leasehold improvement | $270 | ' | ' |
Rental expense | $500 | $519 | $645 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Summary of Future Minimum Payments under Noncancelable Operating Leases) (Details) (USD $) | Aug. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating leases | ' |
2014 | $595 |
2015 | 548 |
2016 | 550 |
2017 | 559 |
2018 | 575 |
Thereafter | 688 |
Total minimum lease payments | $3,515 |
Research_Collaboration_Agreeme2
Research Collaboration Agreements (Details) (USD $) | 31-May-06 | 31-May-06 | 31-May-06 | 31-May-06 | Sep. 24, 2011 | Aug. 31, 2007 | Aug. 31, 2007 | Sep. 24, 2011 | Dec. 31, 2011 |
Noble Agreement Warrants [Member] | Noble Research Program Agreement [Member] | Noble Research Program Agreement [Member] | Noble Research Program Agreement [Member] | Sponsored Research and Intellectual Property Rights Agreement [Member] | Sponsored Research and Intellectual Property Rights Agreement [Member] | Sponsored Research and Intellectual Property Rights Agreement [Member] | Ip Rights Agreement [Member] | Ip Rights Agreement [Member] | |
Collaboration Agreement July Thirty One Twenty Thirteen [Member] | Collaboration Agreement July Thirty One Twenty Fourteen [Member] | Texas A and M University System Agreement Warrants [Member] | Texas A and M University System Agreement Warrants [Member] | ||||||
Collaboration Agreements [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funding of research expenses | ' | $3,800,000 | $82,700 | $85,300 | ' | $5,100,000 | ' | ' | ' |
Warrant issued to purchase stock | 133,333 | ' | ' | ' | ' | ' | 66,666 | ' | 66,666 |
Exercise price of warrants issued | 30 | ' | ' | ' | ' | ' | 30 | ' | 14.3 |
Collaboration agreement date | ' | 31-Jul-12 | 31-Jul-13 | 31-Jul-14 | ' | ' | ' | ' | ' |
Agreement expiry date | ' | ' | ' | ' | 23-Sep-26 | ' | ' | 23-Sep-26 | ' |
Research_Collaboration_Agreeme3
Research Collaboration Agreements (Summary of Future Minimum Payments under Company's Research Collaboration) (Details) (Research Collaboration Agreements [Member], USD $) | Aug. 31, 2013 |
In Thousands, unless otherwise specified | |
Research Collaboration Agreements [Member] | ' |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' |
2014 | $3,041 |
2015 | 2,977 |
2016 | 2,966 |
2017 | 613 |
Contractual Obligation, Total | $9,597 |
Selected_Quarterly_Financial_I2
Selected Quarterly Financial Information (unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2013 | 31-May-13 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | 31-May-12 | Feb. 29, 2012 | Nov. 30, 2011 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 |
Selected Quarterly Financial Information (unaudited) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $898 | $1,355 | $1,026 | $1,966 | $1,164 | $1,148 | $1,311 | $1,748 | $5,243 | $5,371 | $6,616 |
Cost of revenues | 1,132 | 2,134 | 2,280 | 700 | 507 | 627 | 487 | 763 | 6,245 | 2,384 | 2,492 |
Operating loss | -7,339 | -9,317 | -9,014 | -6,921 | -6,650 | -8,078 | -6,980 | -7,094 | -32,590 | -28,802 | -24,898 |
Net loss | ($7,331) | ($9,323) | ($8,966) | ($6,894) | ($6,623) | ($8,416) | ($6,831) | ($7,540) | ($32,511) | ($29,410) | ($36,336) |
Basic and diluted net loss per share | ($0.29) | ($0.38) | ($0.36) | ($0.28) | ($0.27) | ($0.34) | ($2.48) | ($3.73) | ($1.31) | ($2.18) | ($18.34) |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Oct. 11, 2013 |
Subsequent Events [Abstract] | ' |
Workforce reduction, estimated charges | $1.60 |