Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'SANGAMO BIOSCIENCES INC | ' |
Entity Central Index Key | '0001001233 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 61,797,202 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $80,309 | $21,679 |
Marketable securities | 39,913 | 41,868 |
Interest receivable | 208 | 190 |
Accounts receivable | 4,880 | 4,129 |
Other current assets | 149 | 203 |
Prepaid expenses | 684 | 296 |
Total current assets | 126,143 | 68,365 |
Marketable securities, non-current | 12,690 | 12,584 |
Property and equipment, net | 1,494 | 1,543 |
Other assets | 39 | 41 |
Total assets | 140,366 | 82,533 |
Current liabilities: | ' | ' |
Accounts payable and accrued liabilities | 2,665 | 4,013 |
Accrued compensation and employee benefits | 2,039 | 2,473 |
Deferred revenues | 2,300 | 2,304 |
Total current liabilities | 7,004 | 8,790 |
Deferred revenues, non-current | 7,221 | 8,847 |
Total liabilities | 14,225 | 17,637 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Common stock, $0.01 par value; 80,000,000 shares authorized, 61,420,655 and 53,058,525 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively | 614 | 531 |
Additional paid-in capital | 419,490 | 339,848 |
Accumulated deficit | -293,989 | -275,509 |
Accumulated other comprehensive income | 26 | 26 |
Total stockholders' equity | 126,141 | 64,896 |
Total liabilities and stockholders' equity | $140,366 | $82,533 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, shares issued | 61,420,655 | 53,058,525 |
Common stock, shares outstanding | 61,420,655 | 53,058,525 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues: | ' | ' | ' | ' |
Collaboration agreements | $4,825 | $4,190 | $15,065 | $9,665 |
Research grants | 882 | 717 | 2,199 | 3,058 |
Total revenues | 5,707 | 4,907 | 17,264 | 12,723 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 8,703 | 7,570 | 26,201 | 22,427 |
General and administrative | 3,163 | 3,139 | 9,595 | 9,125 |
Total operating expenses | 11,866 | 10,709 | 35,796 | 31,552 |
Loss from operations | -6,159 | -5,802 | -18,532 | -18,829 |
Interest and other income, net | 14 | 12 | 52 | 43 |
Net loss | ($6,145) | ($5,790) | ($18,480) | ($18,786) |
Basic and diluted net loss per share | ($0.11) | ($0.11) | ($0.34) | ($0.36) |
Shares used in computing basic and diluted net loss per share | 54,786 | 52,768 | 54,013 | 52,664 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net loss | ($6,145) | ($5,790) | ($18,480) | ($18,786) |
Changes in unrealized loss on available-for-sale securities | 27 | 22 | ' | 3 |
Comprehensive loss | ($6,118) | ($5,768) | ($18,480) | ($18,783) |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities: | ' | ' |
Net loss | ($18,480) | ($18,786) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 445 | 500 |
Amortization of premium / discount on marketable securities | 625 | 692 |
Stock-based compensation | 4,098 | 4,011 |
Changes in operating assets and liabilities: | ' | ' |
Interest receivable | -18 | 20 |
Accounts receivable | -696 | -2,585 |
Prepaid expenses and other assets | -387 | -364 |
Accounts payable and accrued liabilities | -1,348 | -3,770 |
Accrued compensation and employee benefits | -434 | 159 |
Deferred revenues | -1,630 | 11,818 |
Net cash used in operating activities | -17,825 | -8,305 |
Investing Activities: | ' | ' |
Purchases of investments | -37,161 | -70,570 |
Maturities of investments | 38,384 | 75,155 |
Purchases of property and equipment | -395 | -363 |
Net cash provided by investing activities | 828 | 4,222 |
Financing Activities: | ' | ' |
Proceeds from public offering, net of issuance costs | 69,492 | ' |
Proceeds from issuance of common stock | 6,135 | 1,041 |
Net cash provided by financing activities | 75,627 | 1,041 |
Net increase / (decrease) in cash and cash equivalents | 58,630 | -3,042 |
Cash and cash equivalents, beginning of period | 21,679 | 16,766 |
Cash and cash equivalents, end of period | $80,309 | $13,724 |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Basis of Presentation and Summary of Significant Accounting Policies | ' | |||
NOTE 1—BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||
Basis of Presentation | ||||
The accompanying unaudited condensed consolidated financial statements of Sangamo BioSciences, Inc. (“Sangamo” or the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. The condensed consolidated balance sheet data at December 31, 2012 were derived from the audited consolidated financial statements included in Sangamo’s Form 10-K for the year ended December 31, 2012, as filed with the SEC. These financial statements should be read in conjunction with the financial statements and footnotes thereto for the year ended December 31, 2012, included in Sangamo’s Form 10-K, as filed with the SEC. | ||||
Use of Estimates and Classifications | ||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. On an ongoing basis, management evaluates its estimates, including critical accounting policies or estimates related to revenue recognition, clinical trial accruals, and stock-based compensation. Estimates are based on historical experience and on various other market specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. | ||||
Revenue Recognition | ||||
Revenues from research activities made under strategic partnering agreements and collaborations are recognized as the services are provided when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable, and collectability is reasonably assured. Revenue generated from research and licensing agreements typically includes upfront signing or license fees, cost reimbursements, research services, minimum sublicense fees, milestone payments and royalties on future licensee’s product sales. | ||||
Multiple Element Arrangements prior to the adoption of ASU No. 2009-13, Revenue Recognition—Multiple Deliverable Revenue Arrangements (ASU 2009-13). For revenue arrangements entered into before January 1, 2011, that include multiple deliverables, the elements of such agreement were divided into separate units of accounting if the deliverables met certain criteria, including whether the fair value of the delivered items could be determined and whether there was evidence of fair value of the undelivered items. In addition, the consideration was allocated among the separate units of accounting based on their fair values, and the applicable revenue recognition criteria are considered separately for each of the separate units of accounting. Prior to the adoption of ASU 2009-13, the Company recognized nonrefundable signing, license or non-exclusive option fees as revenue when rights to use the intellectual property related to the license were delivered and over the period of performance obligations if the Company had continuing performance obligations. The Company estimated the performance period at the inception of the arrangement and reevaluated it each reporting period. Changes to these estimates were recorded on a prospective basis. | ||||
Multiple Element Arrangements after the adoption of ASU 2009-13. ASU 2009-13 amended the accounting standards for certain multiple element revenue arrangements to: | ||||
• | provide updated guidance on whether multiple elements exist, how the elements in an arrangement should be separated, and how the arrangement consideration should be allocated to the separate elements; | |||
• | require an entity to allocate arrangement consideration to each element based on a selling price hierarchy where the selling price for an element is based on vendor-specific objective evidence (“VSOE”), if available; third-party evidence (“TPE”), if available and VSOE is not available; or the best estimate of selling price (“ESP”), if neither VSOE nor TPE is available; and | |||
• | eliminate the use of the residual method and require an entity to allocate arrangement consideration using the relative selling price method. | |||
For revenue agreements with multiple element arrangements, such as license and development agreements, entered into on or after January 1, 2011, the Company allocates revenue to each non-contingent element based on the relative selling price of each element. When applying the relative selling price method, the Company determines the selling price for each deliverable using VSOE of selling price or TPE of selling price. If neither exists the Company uses ESP for that deliverable. Revenue allocated is then recognized when the basic four revenue recognition criteria are met for each element. The collaboration and license agreement entered into with Shire AG (Shire) in January 2012 was evaluated under these amended accounting standards. | ||||
Additionally, the Company may be entitled to receive certain milestone payments which are contingent upon reaching specified objectives. These milestone payments are recognized as revenue in full upon achievement of the milestone if there is substantive uncertainty at the date the arrangement is entered into that objectives will be achieved and if the achievement is based on the Company’s performance. | ||||
Minimum annual sublicense fees are also recognized as revenue in the period in which such fees are due. Royalty revenues are generally recognized when earned and collectability of the related royalty payment is reasonably assured. The Company recognizes cost reimbursement revenue under collaborative agreements as the related research and development costs for services are rendered. Deferred revenue represents the portion of research or license payments received which have not been earned. | ||||
Sangamo’s research grants are typically multi-year agreements and provide for the reimbursement of qualified expenses for research and development as defined under the terms of the grant agreement. Revenue under grant agreements is recognized when the related qualified research expenses are incurred. | ||||
Recent Accounting Pronouncement | ||||
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-02). This newly issued accounting standard requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. This ASU is effective for reporting periods beginning after December 15, 2012. We adopted this standard in the first quarter of 2013 and the adoption of this standard did not have an impact on our financial position or results of operations. |
Investments_and_Fair_Value_Mea
Investments and Fair Value Measurement | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Investments All Other Investments [Abstract] | ' | ||||||||||||||||
Investments and Fair Value Measurement | ' | ||||||||||||||||
NOTE 2—INVESTMENTS AND FAIR VALUE MEASUREMENT | |||||||||||||||||
Investments | |||||||||||||||||
Sangamo classifies its marketable securities as available-for-sale and records its investments at fair value. Available-for-sale securities are carried at estimated fair value based on quoted market prices, with the unrealized holding gains and losses included in accumulated other comprehensive income. Marketable securities which have maturities beyond one year as of the end of the reporting period are classified as non-current. The Company’s investments are subject to a periodic impairment review and the Company recognizes an impairment charge when a decline in the fair value of its investments below the cost basis is judged to be other-than-temporary. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time and extent to which the fair value has been less than the Company’s cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market value. | |||||||||||||||||
The table below summarizes the Company’s available-for-sale securities (in thousands): | |||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||
Gains | (Losses) | ||||||||||||||||
September 30, 2013 | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 9,758 | $ | — | $ | — | $ | 9,758 | |||||||||
Total | 9,758 | — | — | 9,758 | |||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. government sponsored entity debt securities | 52,577 | 26 | — | 52,603 | |||||||||||||
Total | 52,577 | 26 | — | 52,603 | |||||||||||||
Total cash equivalents and available-for-sale securities | $ | 62,335 | $ | 26 | $ | — | $ | 62,361 | |||||||||
December 31, 2012 | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
U.S. government sponsored entity debt securities | $ | 2,997 | $ | — | $ | — | $ | 2,997 | |||||||||
Money market funds | 15,839 | — | — | 15,839 | |||||||||||||
Total | 18,836 | — | — | 18,836 | |||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. government sponsored entity debt securities | 54,426 | 26 | — | 54,452 | |||||||||||||
Total | 54,426 | 26 | — | 54,452 | |||||||||||||
Total cash equivalents and available-for-sale securities | $ | 73,262 | $ | 26 | $ | — | $ | 73,288 | |||||||||
As of September 30, 2013, none of the available-for-sale securities held by the Company had material unrealized losses and there were no realized losses for the three and nine months ended September 30, 2013. The Company had no other-than-temporary impairments of available-for-sale securities for the three and nine months ended September 30, 2013 or the twelve months ended December 31, 2012. | |||||||||||||||||
Fair Value Measurement | |||||||||||||||||
The Company measures certain financial assets at fair value on a recurring basis, including cash equivalents and available-for sale-securities. The fair value of these assets was determined based on a three-tier hierarchy under the authoritative guidance for fair value measurements and disclosures that prioritizes the inputs used in measuring fair value as follows: | |||||||||||||||||
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |||||||||||||||||
Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |||||||||||||||||
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | |||||||||||||||||
The Company generally classifies its available-for-sale debt instruments as Level 2. Instruments can be classified as Level 2 when observable market prices for identical securities that are traded in less active markets are used. When observable market prices for identical securities are not available, such instruments are priced using benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing as well as model processes. These models are proprietary to the pricing providers or brokers. These valuation models incorporate a number of inputs, including, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. For certain security types, additional inputs may be used, or some of the standard inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on any given day. | |||||||||||||||||
The fair value measurements of our cash equivalents and available-for-sale marketable securities are identified at the following levels within the fair value hierarchy (in thousands): | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 9,758 | $ | 9,758 | $ | — | $ | — | |||||||||
Total | 9,758 | 9,758 | — | — | |||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. government sponsored entity debt securities | 52,603 | — | 52,603 | — | |||||||||||||
Total | 52,603 | — | 52,603 | — | |||||||||||||
Total cash equivalents and available-for-sale securities | $ | 62,361 | $ | 9,758 | $ | 52,603 | $ | — | |||||||||
December 31, 2012 | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
U.S. government sponsored entity debt securities | $ | 2,997 | $ | — | $ | 2,997 | $ | — | |||||||||
Money market funds | 15,839 | 15,839 | — | — | |||||||||||||
Total | 18,836 | 15,839 | 2,997 | — | |||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. government sponsored entity debt securities | 54,452 | — | 54,452 | — | |||||||||||||
Total | 54,452 | — | 54,452 | — | |||||||||||||
Total cash equivalents and available-for-sale securities | $ | 73,288 | $ | 15,839 | $ | 57,449 | $ | — | |||||||||
Basic_and_Diluted_Net_Loss_Per
Basic and Diluted Net Loss Per Share | 9 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' |
Basic and Diluted Net Loss Per Share | ' |
NOTE 3—BASIC AND DILUTED NET LOSS PER SHARE | |
Basic net loss per share has been computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock and potential dilutive securities outstanding during the period. | |
Because Sangamo is in a net loss position, diluted net loss per share excludes the effects of common stock equivalents consisting of options, which are anti-dilutive. The total stock options outstanding excluded from consideration in the calculation of diluted net loss per share for the nine months ended September 30, 2013 and 2012 were 7,853,936 and 8,075,898, respectively. |
Major_Customers_Partnerships_a
Major Customers, Partnerships and Strategic Alliances | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||||||||||
Major Customers, Partnerships and Strategic Alliances | ' | ||||||||||||||||
NOTE 4—MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES | |||||||||||||||||
Collaboration Agreements | |||||||||||||||||
Collaboration and License Agreement with Shire AG in Human Therapeutics and Diagnostics | |||||||||||||||||
In January 2012, the Company entered into a collaboration and license agreement (the Agreement) with Shire AG (Shire), pursuant to which the Company and Shire collaborate to research, develop and commercialize human therapeutics and diagnostics for monogenic diseases based on Sangamo’s novel zinc finger DNA-binding proteins (ZFP) technology. Under the Agreement, the Company and Shire may develop potential human therapeutic or diagnostic products for seven gene targets. The initial four gene targets selected were blood clotting Factors VII, VIII, IX and X, and products developed for such initial gene targets will be used for treating or diagnosing hemophilia. In June 2012, Shire selected a fifth gene target for the development of a ZFP therapeutic for Huntington’s disease, an inherited neurodegenerative disease for which there are currently no therapies available to slow the disease progression. Shire has the right, subject to certain limitations, to designate two additional gene targets. Pursuant to the Agreement, the Company granted Shire an exclusive, world-wide, royalty-bearing license, with the right to grant sublicenses, to use Sangamo’s ZFP technology for the purpose of developing and commercializing human therapeutic and diagnostic products for the gene targets. The initial research term of the Agreement is six years and is subject to extensions upon mutual agreement and under other specified circumstances. | |||||||||||||||||
Under the terms of the Agreement, the Company is responsible for all research activities through the submission of an Investigative New Drug Application (IND) or European Clinical Trial Application (CTA), while Shire is responsible for clinical development and commercialization of products generated from the research program from and after the acceptance of an IND or CTA for the product. Shire reimburses Sangamo for its internal and external research program-related costs. | |||||||||||||||||
The Company received an upfront license fee of $13.0 million. The Company will also be eligible to receive up to $213.5 million of contingent payments for each gene target if specified research, regulatory, clinical development, commercialization and sales milestone events occur, including payments for each gene target through the acceptance of an IND or CTA submission totaling $8.5 million. The Company will also be eligible to receive royalty payments that are a tiered double-digit percentage of net sales of licensed product sold by Shire or its sublicensees developed under the collaboration, if any. To date, no products have been approved and therefore no royalty fees have been earned under the Agreement with Shire. | |||||||||||||||||
All contingent payments under the Agreement, when earned, will be non-refundable and non-creditable. The Company has evaluated the contingent payments under the Agreement with Shire based on the authoritative guidance for research and development milestones and determined that certain of these payments meet the definition of a milestone and that all such milestones are evaluated to determine if they are considered substantive milestones. Milestones are considered substantive if they are related to events (i) that can be achieved based in whole or in part on either the Company’s performance or on the occurrence of a specific outcome resulting from the Company’s performance, (ii) for which there was substantive uncertainty at the date the agreement was entered into that the event would be achieved and (iii) that would result in additional payments being due to the Company. Accordingly, revenue for the achievement of milestones that are determined to be substantive will be recognized in its entirety in the period when the milestone is achieved and collectability is reasonably assured. Revenue for the achievement of milestones that are not substantive will be recognized over the remaining period of the Agreement. | |||||||||||||||||
The Company has identified the deliverables within the arrangement as a license to the technology and on-going research services activities. The Company has concluded that the license is not a separate unit of accounting as it does not have stand-alone value to Shire apart from the research services to be performed pursuant to the Agreement. As a result, the Company will recognize revenue from the upfront payment on a straight-line basis over a six-year initial research term during which the Company will perform research services. As of September 30, 2013, the Company has deferred revenue of $9.5 million related to this Agreement. | |||||||||||||||||
Revenues recognized under the agreement with Shire for the three and nine months ended September 30, 2013 and September 30, 2012, were as follows (in thousands): | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue related to Shire Collaboration: | |||||||||||||||||
Amortization of upfront fee | $ | 542 | $ | 542 | $ | 1,625 | $ | 1,444 | |||||||||
Research services | 3,968 | 2,675 | 11,340 | 4,747 | |||||||||||||
Total | $ | 4,510 | $ | 3,217 | $ | 12,965 | $ | 6,191 | |||||||||
Related costs and expenses incurred under the Shire agreement were $3.5 million and $2.2 million during the three months ended September 30, 2013 and September 30, 2012, respectively and $10.3 million and $3.8 million during the nine months ended September 30, 2013 and September 30, 2012, respectively. | |||||||||||||||||
Agreement with Sigma-Aldrich Corporation in Laboratory Research Reagents, Transgenic Animal and Commercial Protein Production Cell-line Engineering | |||||||||||||||||
In July 2007, Sangamo entered into a license agreement (the Agreement) with Sigma-Aldrich Corporation (Sigma). Under the Agreement, Sangamo agreed to provide Sigma with access to our proprietary ZFP technology and the exclusive right to use the technology to develop and commercialize research reagent products and services in the research field, excluding certain agricultural research uses that Sangamo previously licensed to Dow AgroSciences LLC (DAS), a wholly-owned subsidiary of Dow Chemical Corporation. Under the Agreement, Sangamo and Sigma agreed to conduct a three-year research program to develop laboratory research reagents using Sangamo’s ZFP technology during which time Sangamo agreed to assist Sigma in connection with its efforts to market and sell services employing the Company’s ZFP technology in the research field. Sangamo has transferred the ZFP manufacturing technology to Sigma. | |||||||||||||||||
In October 2009, Sangamo expanded its Agreement with Sigma. In addition to the original terms of the Agreement, Sigma received exclusive rights to develop and distribute ZFP-modified cell lines for commercial production of protein pharmaceuticals and certain ZFP-engineered transgenic animals for commercial applications. Under the terms of the Agreement, Sigma made upfront cash payment of $20.0 million consisting of a $4.9 million purchase of 636,133 shares of Sangamo common stock, valued at $4.9 million, and a $15.1 million upfront license fee. The upfront license fee was recognized on a straight-line basis from the effective date of the expanded license through July 2010, which represents the period over which Sangamo was obligated to perform research services for Sigma. Sangamo is also eligible to receive commercial license fees of $5.0 million based upon a percentage of net sales and sublicensing revenue and thereafter a reduced royalty rate of 10.5% of net sales and sublicensing revenue. In addition, upon the achievement of certain cumulative commercial milestones Sigma will make milestone payments to Sangamo up to an aggregate of $25.0 million. In April 2013, the Company recognized $1.3 million in sublicense revenues under the agreement with Sigma. | |||||||||||||||||
Revenues recognized under the agreement with Sigma for the three and nine months ended September 30, 2013 and September 30, 2012, were as follows (in thousands): | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue related to Sigma Collaboration: | |||||||||||||||||
Royalty revenues | $ | 201 | $ | 428 | $ | 711 | $ | 1,035 | |||||||||
License fee and milestone revenues | 101 | — | 1,351 | 1,000 | |||||||||||||
Total | $ | 302 | $ | 428 | $ | 2,062 | $ | 2,035 | |||||||||
Related costs and expenses incurred under the Sigma agreement were $0.1 million during both the three months ended September 30, 2013 and 2012. Related costs and expenses incurred under the Sigma agreement were $0.1 million and $0.3 million during the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||
Agreement with Dow AgroSciences in Plant Agriculture | |||||||||||||||||
In October 2005, Sangamo entered into an exclusive commercial license agreement (the Agreement) with DAS. Under the Agreement, Sangamo provides DAS with access to its proprietary ZFP technology and the exclusive right to use the technology to modify the genomes or alter the nucleic acid or protein expression of plant cells, plants, or plant cell cultures. Sangamo has retained rights to use plants or plant-derived products to deliver ZFP transcription factors (ZFP TFs) or ZFP nucleases (ZFNs) into humans or animals for diagnostic, therapeutic, or prophylactic purposes. The Agreement with DAS provided for an initial three-year research term. In June 2008, DAS exercised its option under the agreement to obtain a commercial license to sell products incorporating or derived from plant cells generated using the Company’s ZFP technology, including agricultural crops, industrial products and plant-derived biopharmaceuticals. The exercise of the option triggered a one-time commercial license fee of $6.0 million, payment of the remaining $2.3 million of the previously agreed $4.0 million in research milestones, development and commercialization milestone payments for each product, and royalties on sales of products. Furthermore, DAS has the right to sublicense Sangamo’s ZFP technology to third parties for use in plant cells, plants, or plant cell cultures. Sangamo will be entitled to 25% of any cash consideration received by DAS under such sublicenses. In December 2010, the Company amended the Agreement with DAS to extend the period of reagent manufacturing services and research services through December 31, 2012. | |||||||||||||||||
The Agreement also provides for minimum sublicense fees each year due to Sangamo every October, provided the Agreement is not terminated by DAS. Annual fees range from $250,000 to $3.0 million and total $25.3 million over 11 years. The Company does not have any performance obligations with respect to the sublicensing activities to be conducted by DAS. DAS has the right to terminate the Agreement at any time; accordingly, the Company’s actual sublicense fees over the term of the Agreement could be lower than $25.3 million. In addition, each party may terminate the Agreement upon an uncured material breach by the other party. In the event of any termination of the Agreement, all rights to use the Company’s ZFP technology will revert to Sangamo, and DAS will no longer be permitted access to Sangamo’s ZFP technology or to develop or, except in limited circumstances, commercialize any products derived from the Company’s ZFP technology. | |||||||||||||||||
Revenues under the agreement were $0.4 million during the three months ended September 30, 2012, and $1.3 million during the nine months ended September 30, 2012. Related costs and expenses incurred under the agreement were $0.1 million during the three months ended September 30, 2012, and $0.4 million during the nine months ended September 30, 2012. There were no such revenues or related expenses during the three and nine months ended September 30, 2013. | |||||||||||||||||
Funding from Research Foundations | |||||||||||||||||
California Institute for Regenerative Medicine | |||||||||||||||||
In October 2009, the California Institute for Regenerative Medicine (CIRM), a State of California entity, granted a $14.5 million Disease Team Research Award to develop an AIDS-related lymphoma therapy based on the application of ZFN gene editing technology in stem cells. The four year grant supports an innovative research project conducted by a multidisciplinary team of investigators, including investigators from the University of Southern California, City of Hope National Medical Center and Sangamo BioSciences. Sangamo expects to receive funding up to $5.2 million from the total amount awarded based on expenses incurred for research and development efforts by Sangamo as prescribed in the agreement, and subject to its terms and conditions. The award is intended to substantially fund Sangamo’s research and development efforts related to the agreement. The State of California has the right to receive, subject to the terms and conditions of the agreement between Sangamo and CIRM, payments from Sangamo resulting from sales of a commercial product resulting from research and development efforts supported by the grant, not to exceed two times the amount Sangamo receives in funding under the agreement with CIRM. | |||||||||||||||||
Revenues attributable to research and development performed under the CIRM grant agreement were $0.5 million and $0.3 million during the three months ended September 30, 2013 and 2012, respectively and $ 1.2 million and $0.9 million during the nine months ended September 30, 2013 and 2012, respectively. Related costs and expenses incurred under the CIRM agreement were $0.5 million and $0.3 million during the three months ended September 30, 2013 and 2012, respectively, and $1.4 million and $0.9 million during the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||
CHDI Foundation, Inc. | |||||||||||||||||
In April 2011, Sangamo entered into an agreement with the CHDI Foundation, Inc. (CHDI) to develop a novel therapeutic for Huntington’s disease based on Sangamo’s proprietary ZFP technology. Under the agreement with CHDI, and subject to its terms and conditions, CHDI paid the Company $1.3 million, the total funds due under the agreement, over a period of one year which is intended to substantially fund the Company’s research efforts related to the agreement. During 2012, the agreement was amended to extend the project through August 2012 and to increase total potential funding from $1.3 million to $2.1 million, plus reimbursement for certain direct expenses related to the project. The research grant from CHDI was completed in August 2012. | |||||||||||||||||
Revenues attributable to research and development performed under the CHDI collaboration agreement were $0.3 million and $1.1 million during the three and nine months ended September 30, 2012, respectively. Related costs and expenses incurred under the CHDI agreement were $0.3 million and $1.1 million during the three and nine months ended September 30, 2012, respectively. There were no revenues or related expenses during the three and nine months ended September 30, 2013. | |||||||||||||||||
The Juvenile Diabetes Research Foundation International | |||||||||||||||||
In October 2006, Sangamo entered into an agreement with the Juvenile Diabetes Research Foundation International (JDRF) to provide financial support for one of Sangamo’s Phase 2 human clinical studies of the Company’s product candidate SB-509, a ZFP Therapeutic that was in development for the treatment of diabetic neuropathy. In January 2010, JDRF and Sangamo amended the agreement and, subject to its terms and conditions, JDRF agreed to provide additional funding of up to $3.0 million for a Phase 2b trial in diabetic neuropathy. | |||||||||||||||||
In October 2011, the Company announced of the termination of its SB-509 program. In March 2012, the Company received a final payment of $0.8 million for work performed under the JDRF agreements. The Company does not expect to receive additional funding under these agreements. | |||||||||||||||||
Revenues attributable to research and development activities performed under the JDRF agreements were $0 for the three months ended September 30, 2012 and $0.8 million during the nine months ended September 30, 2012. There were no such revenues during the three and nine months ended September 30, 2013. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
NOTE 5—INCOME TAXES | |
The Company maintains deferred tax assets that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. These deferred tax assets include net operating loss carryforwards, research credits and capitalized research and development. Realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain based on the Company’s history of losses. Accordingly, the net deferred tax assets have been fully offset by a valuation allowance. Utilization of operating losses and credits may be subject to substantial annual limitation due to ownership change provisions of the Internal Revenue Code of 1986, as amended and similar state provisions. The annual limitation may result in the expiration of net operating losses and credits before utilization. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
NOTE 6—STOCK-BASED COMPENSATION | |||||||||||||||||
The following table shows total stock-based compensation expense included in the condensed consolidated statement of operations for the three month and nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Costs and expenses: | |||||||||||||||||
Research and development | $ | 732 | $ | 774 | $ | 2,140 | $ | 2,195 | |||||||||
General and administrative | 659 | 630 | 1,958 | 1,816 | |||||||||||||
Total stock-based compensation expense | $ | 1,391 | $ | 1,404 | $ | 4,098 | $ | 4,011 | |||||||||
Stockholders_Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity | ' |
NOTE 7—STOCKHOLDERS’ EQUITY | |
On September 23, 2013, Sangamo completed an underwritten public offering of its common stock, in which the Company sold an aggregate of 7,015,000 shares of its common stock, including 915,000 issued to the Underwriters pursuant to a 30-day overallotment option, at a public offering price of $10.58 per share. The net proceeds to Sangamo from the sale of shares in this offering, after deducting underwriting discounts and commissions and other estimated offering expenses, were approximately $69.5 million. |
Subsequent_Events
Subsequent Events | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Subsequent Events [Abstract] | ' | |||
Subsequent Events | ' | |||
NOTE 8—SUBSEQUENT EVENTS | ||||
Acquisition of Ceregene | ||||
On August 23, 2013, Sangamo and its wholly-owned subsidiary CG Acquisition Sub, Inc., a Delaware corporation (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Ceregene, Inc., (“Ceregene”) and a stockholders’ representative. Pursuant to the Merger Agreement, the Company acquired all outstanding shares of Ceregene, a privately held biotechnology company focused on the development of adeno-associated virus (“AAV”) gene therapies. The acquired assets include all of Ceregene’s therapeutic programs, including CERE-110, an AAV vector delivery system for the treatment of Alzheimer’s disease that is currently in a Phase 2 clinical trial, certain intellectual property rights relating to the manufacturing of AAV, and certain toxicology and safety data from Ceregene’s human clinical trials (the Acquisition). The Acquisition was closed on October 1, 2013 (the Closing Date). | ||||
On the Closing Date, Merger Sub merged with and into Ceregene, with Ceregene continuing as the surviving company and a wholly-owned subsidiaries of the Company. On the Closing Date, each share of Ceregene’s issued and outstanding capital stock held by its stockholders converted to the right to receive a portion of the merger consideration for the Acquisition, which consists initially of (i) 100,000 shares of Sangamo common stock with a market value of approximately $1.2 million on the Closing Date, and (ii) amount of cash and cash equivalent of Ceregene on the Closing Date less certain liabilities and expenses. In addition to such initial merger consideration, during the term of the Merger Agreement, the Company is required to make contingent earn-out payments (the “Earn-Out Payments”) to the stockholders of Ceregene as follows: | ||||
• | If the Company grants a third-party license to develop and commercialize Ceregene’s CERE-110 for the treatment of Alzheimer’s disease or CERE-120 for the treatment of Parkinson’s diseases or Huntington’s disease (the “Earn-Out Products”), the Company is required to pay a double digit percentage of any upfront and milestone payments the Company receives for such license, subject to certain reductions based on expenses incurred by the Company in the development of the Earn-Out Products; and | |||
• | If the Company commercializes any Earn-Out Product itself, the Company is required to pay, for each Earn-Out Product, royalty-like earnout payments as a percentage of net sales that range in the low double digits depending upon the amount of net sales, subject to certain reductions by the Company. | |||
Also on the Closing Date, the Company, Ceregene and certain of its stockholders entered into an indemnity escrow agreement, pursuant to which a portion of the purchase price was deposited in an escrow account for the benefit of the Company to satisfy indemnity obligations of the stockholders under the Merger Agreement. Due to the relatively short time from the Closing Date of the Acquisition to the completion of the accompanying unaudited interim consolidated financial statements, the accounting for the initial purchase price allocation as well as certain required supplemental disclosures with respect to the Acquisition have not been completed. |
Basis_of_Presentation_and_Summ1
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Basis of Presentation | ' | |||
Basis of Presentation | ||||
The accompanying unaudited condensed consolidated financial statements of Sangamo BioSciences, Inc. (“Sangamo” or the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. The condensed consolidated balance sheet data at December 31, 2012 were derived from the audited consolidated financial statements included in Sangamo’s Form 10-K for the year ended December 31, 2012, as filed with the SEC. These financial statements should be read in conjunction with the financial statements and footnotes thereto for the year ended December 31, 2012, included in Sangamo’s Form 10-K, as filed with the SEC. | ||||
Use of Estimates and Classifications | ' | |||
Use of Estimates and Classifications | ||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. On an ongoing basis, management evaluates its estimates, including critical accounting policies or estimates related to revenue recognition, clinical trial accruals, and stock-based compensation. Estimates are based on historical experience and on various other market specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. | ||||
Revenue Recognition | ' | |||
Revenue Recognition | ||||
Revenues from research activities made under strategic partnering agreements and collaborations are recognized as the services are provided when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed or determinable, and collectability is reasonably assured. Revenue generated from research and licensing agreements typically includes upfront signing or license fees, cost reimbursements, research services, minimum sublicense fees, milestone payments and royalties on future licensee’s product sales. | ||||
Multiple Element Arrangements prior to the adoption of ASU No. 2009-13, Revenue Recognition—Multiple Deliverable Revenue Arrangements (ASU 2009-13). For revenue arrangements entered into before January 1, 2011, that include multiple deliverables, the elements of such agreement were divided into separate units of accounting if the deliverables met certain criteria, including whether the fair value of the delivered items could be determined and whether there was evidence of fair value of the undelivered items. In addition, the consideration was allocated among the separate units of accounting based on their fair values, and the applicable revenue recognition criteria are considered separately for each of the separate units of accounting. Prior to the adoption of ASU 2009-13, the Company recognized nonrefundable signing, license or non-exclusive option fees as revenue when rights to use the intellectual property related to the license were delivered and over the period of performance obligations if the Company had continuing performance obligations. The Company estimated the performance period at the inception of the arrangement and reevaluated it each reporting period. Changes to these estimates were recorded on a prospective basis. | ||||
Multiple Element Arrangements after the adoption of ASU 2009-13. ASU 2009-13 amended the accounting standards for certain multiple element revenue arrangements to: | ||||
• | provide updated guidance on whether multiple elements exist, how the elements in an arrangement should be separated, and how the arrangement consideration should be allocated to the separate elements; | |||
• | require an entity to allocate arrangement consideration to each element based on a selling price hierarchy where the selling price for an element is based on vendor-specific objective evidence (“VSOE”), if available; third-party evidence (“TPE”), if available and VSOE is not available; or the best estimate of selling price (“ESP”), if neither VSOE nor TPE is available; and | |||
• | eliminate the use of the residual method and require an entity to allocate arrangement consideration using the relative selling price method. | |||
For revenue agreements with multiple element arrangements, such as license and development agreements, entered into on or after January 1, 2011, the Company allocates revenue to each non-contingent element based on the relative selling price of each element. When applying the relative selling price method, the Company determines the selling price for each deliverable using VSOE of selling price or TPE of selling price. If neither exists the Company uses ESP for that deliverable. Revenue allocated is then recognized when the basic four revenue recognition criteria are met for each element. The collaboration and license agreement entered into with Shire AG (Shire) in January 2012 was evaluated under these amended accounting standards. | ||||
Additionally, the Company may be entitled to receive certain milestone payments which are contingent upon reaching specified objectives. These milestone payments are recognized as revenue in full upon achievement of the milestone if there is substantive uncertainty at the date the arrangement is entered into that objectives will be achieved and if the achievement is based on the Company’s performance. | ||||
Minimum annual sublicense fees are also recognized as revenue in the period in which such fees are due. Royalty revenues are generally recognized when earned and collectability of the related royalty payment is reasonably assured. The Company recognizes cost reimbursement revenue under collaborative agreements as the related research and development costs for services are rendered. Deferred revenue represents the portion of research or license payments received which have not been earned. | ||||
Sangamo’s research grants are typically multi-year agreements and provide for the reimbursement of qualified expenses for research and development as defined under the terms of the grant agreement. Revenue under grant agreements is recognized when the related qualified research expenses are incurred. | ||||
Recent Accounting Pronouncement | ' | |||
Recent Accounting Pronouncement | ||||
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-02). This newly issued accounting standard requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. This ASU is effective for reporting periods beginning after December 15, 2012. We adopted this standard in the first quarter of 2013 and the adoption of this standard did not have an impact on our financial position or results of operations. | ||||
Investments | ' | |||
Investments | ||||
Sangamo classifies its marketable securities as available-for-sale and records its investments at fair value. Available-for-sale securities are carried at estimated fair value based on quoted market prices, with the unrealized holding gains and losses included in accumulated other comprehensive income. Marketable securities which have maturities beyond one year as of the end of the reporting period are classified as non-current. The Company’s investments are subject to a periodic impairment review and the Company recognizes an impairment charge when a decline in the fair value of its investments below the cost basis is judged to be other-than-temporary. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time and extent to which the fair value has been less than the Company’s cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market value. | ||||
Fair Value Measurement | ' | |||
Fair Value Measurement | ||||
The Company measures certain financial assets at fair value on a recurring basis, including cash equivalents and available-for sale-securities. The fair value of these assets was determined based on a three-tier hierarchy under the authoritative guidance for fair value measurements and disclosures that prioritizes the inputs used in measuring fair value as follows: | ||||
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | ||||
Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; | ||||
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | ||||
The Company generally classifies its available-for-sale debt instruments as Level 2. Instruments can be classified as Level 2 when observable market prices for identical securities that are traded in less active markets are used. When observable market prices for identical securities are not available, such instruments are priced using benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing as well as model processes. These models are proprietary to the pricing providers or brokers. These valuation models incorporate a number of inputs, including, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. For certain security types, additional inputs may be used, or some of the standard inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on any given day. | ||||
Net Loss per Share, policy | ' | |||
Basic net loss per share has been computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock and potential dilutive securities outstanding during the period. |
Investments_and_Fair_Value_Mea1
Investments and Fair Value Measurement (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Investments All Other Investments [Abstract] | ' | ||||||||||||||||
Schedule of Investments | ' | ||||||||||||||||
The table below summarizes the Company’s available-for-sale securities (in thousands): | |||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||
Gains | (Losses) | ||||||||||||||||
September 30, 2013 | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 9,758 | $ | — | $ | — | $ | 9,758 | |||||||||
Total | 9,758 | — | — | 9,758 | |||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. government sponsored entity debt securities | 52,577 | 26 | — | 52,603 | |||||||||||||
Total | 52,577 | 26 | — | 52,603 | |||||||||||||
Total cash equivalents and available-for-sale securities | $ | 62,335 | $ | 26 | $ | — | $ | 62,361 | |||||||||
December 31, 2012 | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
U.S. government sponsored entity debt securities | $ | 2,997 | $ | — | $ | — | $ | 2,997 | |||||||||
Money market funds | 15,839 | — | — | 15,839 | |||||||||||||
Total | 18,836 | — | — | 18,836 | |||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. government sponsored entity debt securities | 54,426 | 26 | — | 54,452 | |||||||||||||
Total | 54,426 | 26 | — | 54,452 | |||||||||||||
Total cash equivalents and available-for-sale securities | $ | 73,262 | $ | 26 | $ | — | $ | 73,288 | |||||||||
Summary of Fair Value Measurements of Cash Equivalents and Available-for-Sale Securities | ' | ||||||||||||||||
The fair value measurements of our cash equivalents and available-for-sale marketable securities are identified at the following levels within the fair value hierarchy (in thousands): | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 9,758 | $ | 9,758 | $ | — | $ | — | |||||||||
Total | 9,758 | 9,758 | — | — | |||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. government sponsored entity debt securities | 52,603 | — | 52,603 | — | |||||||||||||
Total | 52,603 | — | 52,603 | — | |||||||||||||
Total cash equivalents and available-for-sale securities | $ | 62,361 | $ | 9,758 | $ | 52,603 | $ | — | |||||||||
December 31, 2012 | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
U.S. government sponsored entity debt securities | $ | 2,997 | $ | — | $ | 2,997 | $ | — | |||||||||
Money market funds | 15,839 | 15,839 | — | — | |||||||||||||
Total | 18,836 | 15,839 | 2,997 | — | |||||||||||||
Available-for-sale securities: | |||||||||||||||||
U.S. government sponsored entity debt securities | 54,452 | — | 54,452 | — | |||||||||||||
Total | 54,452 | — | 54,452 | — | |||||||||||||
Total cash equivalents and available-for-sale securities | $ | 73,288 | $ | 15,839 | $ | 57,449 | $ | — | |||||||||
Major_Customers_Partnerships_a1
Major Customers, Partnerships and Strategic Alliances (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Sigma-Aldrich Corporation [Member] | ' | ||||||||||||||||
Revenues Recognized under Agreement | ' | ||||||||||||||||
Revenues recognized under the agreement with Sigma for the three and nine months ended September 30, 2013 and September 30, 2012, were as follows (in thousands): | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue related to Sigma Collaboration: | |||||||||||||||||
Royalty revenues | $ | 201 | $ | 428 | $ | 711 | $ | 1,035 | |||||||||
License fee and milestone revenues | 101 | — | 1,351 | 1,000 | |||||||||||||
Total | $ | 302 | $ | 428 | $ | 2,062 | $ | 2,035 | |||||||||
Shire AG [Member] | ' | ||||||||||||||||
Revenues Recognized under Agreement | ' | ||||||||||||||||
Revenues recognized under the agreement with Shire for the three and nine months ended September 30, 2013 and September 30, 2012, were as follows (in thousands): | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue related to Shire Collaboration: | |||||||||||||||||
Amortization of upfront fee | $ | 542 | $ | 542 | $ | 1,625 | $ | 1,444 | |||||||||
Research services | 3,968 | 2,675 | 11,340 | 4,747 | |||||||||||||
Total | $ | 4,510 | $ | 3,217 | $ | 12,965 | $ | 6,191 | |||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation Expense | ' | ||||||||||||||||
The following table shows total stock-based compensation expense included in the condensed consolidated statement of operations for the three month and nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Costs and expenses: | |||||||||||||||||
Research and development | $ | 732 | $ | 774 | $ | 2,140 | $ | 2,195 | |||||||||
General and administrative | 659 | 630 | 1,958 | 1,816 | |||||||||||||
Total stock-based compensation expense | $ | 1,391 | $ | 1,404 | $ | 4,098 | $ | 4,011 |
Investments_and_Fair_Value_Mea2
Investments and Fair Value Measurement - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Investments maturity period | '1 year | '1 year | ' |
Gross Unrealized (Losses) | ' | ' | ' |
Available-for-sale securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Gross Unrealized (Losses) | ' | ' | ' |
Realized losses | 0 | 0 | ' |
Other-than-temporary impairments of available-for-sale securities | $0 | $0 | $0 |
Investments_and_Fair_Value_Mea3
Investments and Fair Value Measurement - Schedule of Investments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $62,335 | $73,262 |
Gross Unrealized Gains | 26 | 26 |
Gross Unrealized (Losses) | ' | ' |
Estimated Fair Value | 62,361 | 73,288 |
Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 9,758 | 18,836 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized (Losses) | ' | ' |
Estimated Fair Value | 9,758 | 18,836 |
Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 52,577 | 54,426 |
Gross Unrealized Gains | 26 | 26 |
Gross Unrealized (Losses) | ' | ' |
Estimated Fair Value | 52,603 | 54,452 |
Money market funds [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 9,758 | 15,839 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized (Losses) | ' | ' |
Estimated Fair Value | 9,758 | 15,839 |
U.S. government sponsored entity debt securities [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | ' | 2,997 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized (Losses) | ' | ' |
Estimated Fair Value | ' | 2,997 |
U.S. government sponsored entity debt securities [Member] | Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 52,577 | 54,426 |
Gross Unrealized Gains | 26 | 26 |
Gross Unrealized (Losses) | ' | ' |
Estimated Fair Value | $52,603 | $54,452 |
Investments_and_Fair_Value_Mea4
Investments and Fair Value Measurement - Summary of Fair Value Measurements of Cash Equivalents and Available-for-Sale Securities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | $62,361 | $73,288 |
Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 9,758 | 18,836 |
Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 52,603 | 54,452 |
U.S. government sponsored entity debt securities [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | 2,997 |
U.S. government sponsored entity debt securities [Member] | Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 52,603 | 54,452 |
Money market funds [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 9,758 | 15,839 |
Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 9,758 | 15,839 |
Level 1 [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 9,758 | 15,839 |
Level 1 [Member] | Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 1 [Member] | U.S. government sponsored entity debt securities [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 1 [Member] | U.S. government sponsored entity debt securities [Member] | Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 1 [Member] | Money market funds [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 9,758 | 15,839 |
Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 52,603 | 57,449 |
Level 2 [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | 2,997 |
Level 2 [Member] | Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 52,603 | 54,452 |
Level 2 [Member] | U.S. government sponsored entity debt securities [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | 2,997 |
Level 2 [Member] | U.S. government sponsored entity debt securities [Member] | Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | 52,603 | 54,452 |
Level 2 [Member] | Money market funds [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 3 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 3 [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 3 [Member] | Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 3 [Member] | U.S. government sponsored entity debt securities [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 3 [Member] | U.S. government sponsored entity debt securities [Member] | Available-for-sale securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Level 3 [Member] | Money market funds [Member] | Cash equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total cash equivalents and available-for-sale securities | ' | ' |
Basic_and_Diluted_Net_Loss_Per1
Basic and Diluted Net Loss Per Share - Additional Information (Detail) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' |
Stock options outstanding excluded from the calculation of diluted net loss per share | 7,853,936 | 8,075,898 |
Major_Customers_Partnerships_a2
Major Customers, Partnerships and Strategic Alliances - Additional Information (Detail) (USD $) | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Oct. 31, 2009 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | Jan. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2006 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Jan. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2013 | Oct. 31, 2009 | Jul. 31, 2007 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2009 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2009 | Oct. 31, 2005 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2005 | Oct. 31, 2005 | Oct. 31, 2005 | |
California Institute for Regenerative Medicine [Member] | California Institute for Regenerative Medicine [Member] | California Institute for Regenerative Medicine [Member] | California Institute for Regenerative Medicine [Member] | California Institute for Regenerative Medicine [Member] | CHDI Foundation, Inc. [Member] | CHDI Foundation, Inc. [Member] | CHDI Foundation, Inc. [Member] | CHDI Foundation, Inc. [Member] | CHDI Foundation, Inc. [Member] | CHDI Foundation, Inc. [Member] | Juvenile Diabetes Research Foundation International [Member] | Juvenile Diabetes Research Foundation International [Member] | Juvenile Diabetes Research Foundation International [Member] | Juvenile Diabetes Research Foundation International [Member] | Juvenile Diabetes Research Foundation International [Member] | Juvenile Diabetes Research Foundation International [Member] | Juvenile Diabetes Research Foundation International [Member] | License agreement terms [Member] | License agreement terms [Member] | License agreement terms [Member] | License agreement terms [Member] | Shire AG [Member] | Shire AG [Member] | Shire AG [Member] | Shire AG [Member] | Shire AG [Member] | Shire AG [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Sigma-Aldrich Corporation [Member] | Dow AgroSciences [Member] | Dow AgroSciences [Member] | Dow AgroSciences [Member] | Dow AgroSciences [Member] | Dow AgroSciences [Member] | Dow AgroSciences [Member] | Dow AgroSciences [Member] | Dow AgroSciences [Member] | |||
California Institute for Regenerative Medicine [Member] | California Institute for Regenerative Medicine [Member] | California Institute for Regenerative Medicine [Member] | California Institute for Regenerative Medicine [Member] | Targets | Targets | Product | Upfront license fee [Member] | License agreement terms [Member] | License agreement terms [Member] | License agreement terms [Member] | License agreement terms [Member] | License agreement terms [Member] | Minimum [Member] | Maximum [Member] | License agreement terms [Member] | ||||||||||||||||||||||||||||||||||||
Research and Development Arrangement, Contract to Perform for Others [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate number of gene targets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of initial gene targets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of gene targets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of additional gene targets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research program to develop laboratory research reagents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' |
Upfront license fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,000,000 | ' | ' | ' | ' | ' | $20,000,000 | ' | ' | ' | ' | ' | $15,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential amount to be funded for certain Shire milestones | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 213,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
IND or CTA submission amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of products approved | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 201,000 | 428,000 | 711,000 | 1,035,000 | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | ' | 4,000,000 |
Deferred revenue | 2,300,000 | 2,304,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,500,000 | ' | 9,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collaboration Agreement Related Costs and Expenses | ' | ' | ' | 500,000 | 300,000 | 1,400,000 | 900,000 | ' | 0 | 300,000 | 0 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,500,000 | 2,200,000 | 10,300,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | 100,000 | 300,000 | ' | ' | 0 | 100,000 | 0 | 400,000 | ' | ' | ' |
Common stock, valued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public offering, common stock shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 636,133 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty revenues expected to be received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Reduced royalty rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funding available under the amended agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue attributable to research and development | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | 101,000 | ' | 1,351,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | 0 | 400,000 | 0 | 1,300,000 | ' | ' | ' |
One-time license fee earned on exercise of option | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage of royalties to be received from sublicensing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' |
Annual fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | 3,000,000 | ' |
Minimum sublicense annual fees specific reckoning period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '11 years | ' | ' | ' | ' | ' | ' | ' |
Fee due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,300,000 | ' | ' | ' | ' | ' | ' | ' |
Funds due under the agreement | ' | ' | 14,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreement to receive | ' | ' | '4 years | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected amount to be received for research and development | ' | ' | 5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreement date | ' | ' | 31-Oct-09 | ' | ' | ' | ' | 30-Apr-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Oct-06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivables from sale against the grant funded to entity from sale of product | 'Two times the amount Sangamo receives in funding under the agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues under agreement | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 300,000 | 0 | 1,100,000 | ' | ' | ' | 0 | 0 | 0 | 800,000 | ' | 500,000 | 300,000 | 1,200,000 | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funds due under agreement | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual agreement termination date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Aug-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funds due under agreement as per amendment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grant funding amount maximum under amended agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Received for work performed under agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Major_Customers_Partnerships_a3
Major Customers, Partnerships and Strategic Alliances - Revenues Recognized under Agreement (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Shire AG [Member] | ' | ' | ' | ' | ' |
Revenue related to Shire Collaboration: | ' | ' | ' | ' | ' |
Amortization of upfront fee | ' | $542 | $542 | $1,625 | $1,444 |
Research services | ' | 3,968 | 2,675 | 11,340 | 4,747 |
Total | ' | 4,510 | 3,217 | 12,965 | 6,191 |
Revenue related to Sigma Collaboration: | ' | ' | ' | ' | ' |
Royalty revenues | ' | ' | ' | 0 | ' |
Sigma-Aldrich Corporation [Member] | ' | ' | ' | ' | ' |
Revenue related to Sigma Collaboration: | ' | ' | ' | ' | ' |
Royalty revenues | ' | 201 | 428 | 711 | 1,035 |
License fee and milestone revenues | 1,300 | 101 | ' | 1,351 | 1,000 |
Total | ' | $302 | $428 | $2,062 | $2,035 |
StockBased_Compensation_StockB
Stock-Based Compensation - Stock-Based Compensation Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Costs and expenses: | ' | ' | ' | ' |
Total stock-based compensation expense | $1,391 | $1,404 | $4,098 | $4,011 |
Research and development [Member] | ' | ' | ' | ' |
Costs and expenses: | ' | ' | ' | ' |
Total stock-based compensation expense | 732 | 774 | 2,140 | 2,195 |
General and administrative [Member] | ' | ' | ' | ' |
Costs and expenses: | ' | ' | ' | ' |
Total stock-based compensation expense | $659 | $630 | $1,958 | $1,816 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (IPO [Member], USD $) | 1 Months Ended |
In Millions, except Share data, unless otherwise specified | Sep. 23, 2013 |
Subsidiary, Sale of Stock [Line Items] | ' |
Net proceeds from the sale of shares, after offering expenses | $69.50 |
Common stock [Member] | ' |
Subsidiary, Sale of Stock [Line Items] | ' |
Sale of stock, number of shares issued in transaction | 7,015,000 |
Sale of stock, price per share | $10.58 |
Underwriters [Member] | Common stock [Member] | ' |
Subsidiary, Sale of Stock [Line Items] | ' |
Sale of stock, number of shares issued in transaction | 915,000 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $) | 1 Months Ended |
In Millions, except Share data, unless otherwise specified | Oct. 01, 2013 |
Subsequent Event [Member] | ' |
Business Acquisition [Line Items] | ' |
Shares acquired from acquisition | 100,000 |
Market value of shares issued | $1.20 |