An S-1 (shelf) registration can be effective for years. In this instance the company says it needs to raise $26M in 2013, and according to other sources it appears that they're seeking outside funding in 2014, as well. Therefore, I think that the term of this prospectus is for 2-years.
You can have as many offerings during this period you want in order to raise the funds you're seeking.
The first offering, and maybe the only one, is for 180-days, but the option is there to have additional offerings made if needed.
Again, it's an option if other financing sources do not materialize.
