Quarterly report pursuant to Section 13 or 15(d)

2013 Equity Offering

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2013 Equity Offering
 9 Months Ended
Sep. 30, 2013
Equity [Abstract]  
2013 Equity Offering

8. 2013 Equity Offering

On August 14, 2013, the Company completed an underwritten offering of 6,000,000 shares of its common stock at a price to the public of $3.00 per share. The Company granted the underwriters a 30-day option to purchase up to an aggregate of 900,000 additional shares of Company common stock at the public offering price, less the underwriting discount, to cover over-allotments, if any. On September 11, 2013, the underwriters exercised their option to purchase an additional 184,332 shares. The Company received net proceeds of approximately $16.7 million, after deducting approximately $1.8 million in underwriting discounts and commissions and offering expenses payable by the Company, and including the underwriters’ over-allotment option. The Company intends to use the net proceeds from the offering to continue product commercialization and marketing efforts for its portfolio of peripheral nerve repair products; to further develop its product pipeline; and for general working capital purposes.