Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 10, 2014 | Jun. 30, 2013 | |
Document Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'ZIOP | ' | ' |
Entity Registrant Name | 'ZIOPHARM ONCOLOGY INC | ' | ' |
Entity Central Index Key | '0001107421 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 100,556,625 | ' |
Entity Public Float | ' | ' | $141,663,241 |
Balance_Sheets
Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $68,204 | $73,306 |
Receivables | 145 | 58 |
Prepaid expenses and other current assets | 1,948 | 6,912 |
Total current assets | 70,297 | 80,276 |
Property and equipment, net | 801 | 1,994 |
Deposits | 128 | 133 |
Other non current assets | 528 | 1,001 |
Total assets | 71,754 | 83,404 |
Current liabilities: | ' | ' |
Accounts payable | 422 | 1,509 |
Accrued expenses | 6,357 | 16,516 |
Deferred revenue-current portion | 800 | 800 |
Deferred rent-current portion | 212 | 39 |
Total current liabilities | 7,791 | 18,864 |
Deferred revenue | 1,933 | 2,733 |
Deferred rent | 851 | 400 |
Warrant liabilities | 11,776 | 12,962 |
Other long term liabilities | 20 | 0 |
Total liabilities | 22,371 | 34,959 |
Commitments and contingencies (note 8) | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.001 par value; 30,000,000 shares authorized and no shares issued and outstanding | 0 | 0 |
Common stock, $0.001 par value; 250,000,000 shares authorized; 100,159,618 and 83,236,840 shares issued and outstanding at December 31, 2013 and 2012, respectively | 100 | 83 |
Additional paid-in capital-common stock | 386,511 | 325,177 |
Additional paid-in capital-warrants issued | 3,603 | 6,909 |
Deficit accumulated during the development stage | -340,831 | -283,724 |
Total stockholders' equity | 49,383 | 48,445 |
Total liabilities and stockholders' equity | $71,754 | $83,404 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 12, 2011 | 27-May-10 | Apr. 26, 2006 | Dec. 31, 2005 | Feb. 29, 2004 | Jan. 31, 2004 | Sep. 30, 2003 |
Preferred stock, par value | $0.00 | $0.00 | ' | ' | $0.00 | $0.00 | ' | ' | ' |
Preferred stock, shares authorized | 30,000,000 | 30,000,000 | ' | ' | 30,000,000 | ' | ' | ' | ' |
Preferred stock, shares issued | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ' | ' |
Common stock, shares authorized | 250,000,000 | 250,000,000 | ' | ' | 250,000,000 | ' | ' | ' | ' |
Common stock, shares issued | 100,159,618 | 83,236,840 | 3,636,926 | ' | ' | ' | ' | 9,017,538 | 1,001,949 |
Common stock, shares outstanding | 100,159,618 | 83,236,840 | ' | ' | ' | ' | ' | ' | ' |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | 124 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Revenue | $800 | $800 | $667 | $2,267 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 42,852 | 83,446 | 57,083 | 255,197 |
General and administrative | 15,661 | 19,523 | 14,984 | 103,979 |
Total operating expenses | 58,513 | 102,969 | 72,067 | 359,176 |
Loss from operations | -57,713 | -102,169 | -71,400 | -356,909 |
Other income (expense), net | -579 | -13 | 39 | 4,122 |
Change in fair value of warrants | 1,185 | 6,050 | 7,583 | 11,956 |
Net loss | ($57,107) | ($96,132) | ($63,778) | ($340,831) |
Basic and diluted net loss per share | ($0.66) | ($1.22) | ($0.97) | ' |
Weighted average common shares outstanding used to compute basic and diluted net loss per share | 85,943,175 | 78,546,112 | 66,003,789 | ' |
Statement_of_Stockholders_Equi
Statement of Stockholders' Equity (USD $) | Total | All Other | Services | Non-employee services | Private Placement | Employees | Registered direct offering | Employee Stock Option | Securities Offering | Collaboration Agreement | Series A Preferred Stock | Warrants | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Additional Paid in Capital, Common Stock | Other Additional Capital | Other Additional Capital | Other Additional Capital | Accumulated Deficit during Development Stage |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | All Other | Services | Private Placement | Registered direct offering | Employee Stock Option | Securities Offering | Collaboration Agreement | Non Employee Stock Options | USD ($) | All Other | Services | Non-employee services | Private Placement | Employees | Registered direct offering | Employee Stock Option | Securities Offering | Collaboration Agreement | USD ($) | Non-employee services | Private Placement | USD ($) | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||
Beginning Balance at Sep. 09, 2003 | $500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance (in shares) at Sep. 09, 2003 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,487 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Loss | -160,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -160,000 |
Ending Balance at Dec. 31, 2003 | 340,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -160,000 |
Ending Balance (in shares) at Dec. 31, 2003 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,487 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of options/warrants issued | ' | ' | ' | 264,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,000 | ' | ' | ' | ' | ' | ' | ' | 251,000 | ' | ' |
Issuance of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,254,389 | 256,749 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | ' | 4,500,000 | 439,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | 1,000 | ' | ' | ' | ' | ' | ' | ' | 4,498,000 | 438,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Loss | -5,687,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,687,000 |
Ending Balance at Dec. 31, 2004 | -144,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | 5,449,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 251,000 | ' | ' | -5,847,000 |
Beginning Balance (in shares) at Dec. 31, 2004 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,761,625 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Series A convertible preferred stock (net of expenses of $1,340 and warrant cost of $1,683) (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,197,946 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Series A convertible preferred stock (net of expenses of $1,340 and warrant cost of $1,683) | 15,077,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,077,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of options/warrants issued | 1,683,000 | ' | ' | 99,000 | ' | ' | ' | ' | ' | ' | ' | 1,683,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54,000 | ' | ' | ' | ' | ' | ' | ' | 45,000 | ' | ' |
Issuance of common stock to EasyWeb Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 189,922 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Series A convertible preferred stock @ $0.001 into $0.001 common stock on September 13, 2005 at an exchange ratio of .500974 (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,197,946 | ' | 4,197,823 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Series A convertible preferred stock @ $0.001 into $0.001 common stock on September 13, 2005 at an exchange ratio of .500974 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15,077,000 | -1,683,000 | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | 15,073,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,683,000 | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98,622 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Loss | -9,517,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,517,000 |
Ending Balance at Dec. 31, 2005 | 7,202,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000 | ' | ' | ' | ' | ' | ' | ' | ' | 20,580,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,979,000 | ' | ' | -15,364,000 |
Ending Balance (in shares) at Dec. 31, 2005 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,247,992 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of options/warrants issued | 13,092,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,092,000 | ' | ' | ' |
Stock-based compensation | 2,777,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,777,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | 7,991,256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | ' | ' | 106,000 | ' | 21,188,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000 | ' | ' | ' | ' | ' | ' | ' | 106,000 | ' | 21,180,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,806 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,845 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Loss | -17,857,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -17,857,000 |
Ending Balance at Dec. 31, 2006 | 26,533,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | 44,668,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,071,000 | ' | ' | -33,221,000 |
Ending Balance (in shares) at Dec. 31, 2006 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,272,899 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of options/warrants issued | 5,433,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,433,000 | ' | ' | ' |
Stock-based compensation | ' | ' | ' | 120,000 | ' | 1,318,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120,000 | ' | 1,318,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,910,049 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | ' | ' | ' | ' | 23,538,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,532,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,016 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 36,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Loss | -26,608,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26,608,000 |
Ending Balance at Dec. 31, 2007 | 30,370,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,000 | ' | ' | ' | ' | ' | ' | ' | ' | 69,674,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,504,000 | ' | ' | -59,829,000 |
Ending Balance (in shares) at Dec. 31, 2007 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,298,964 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 586,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | -1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled/ Forfeiture of unvested restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,000 |
Net Loss | -25,231,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -25,231,000 |
Ending Balance at Dec. 31, 2008 | 6,739,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,000 | ' | ' | ' | ' | ' | ' | ' | ' | 71,274,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,504,000 | ' | ' | -85,061,000 |
Ending Balance (in shares) at Dec. 31, 2008 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,860,464 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative effect of a change in accounting principle-January 1, 2009 reclassification of warrants to warrant liabilities | -72,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,638,000 | ' | ' | 1,566,000 |
Stock-based compensation | 2,181,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,181,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 136,986 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock | 279,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 279,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102,564 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | 73,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73,000 | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | -2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -103,823 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock | -380,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -380,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled/ Forfeiture of unvested restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -69,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock and warrants (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,772,337 | 15,484,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock and warrants | ' | ' | ' | ' | 4,595,000 | ' | 22,338,000 | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | 385,000 | ' | 22,323,000 | ' | ' | ' | ' | ' | 4,207,000 | ' |
Net Loss | -7,649,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,649,000 |
Ending Balance at Dec. 31, 2009 | 28,104,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,000 | ' | ' | ' | ' | ' | ' | ' | ' | 96,133,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,073,000 | ' | ' | -91,144,000 |
Ending Balance (in shares) at Dec. 31, 2009 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,583,528 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 3,637,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,637,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | 32,804,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,797,000 | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock (in shares) | 39,225 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39,225 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock | 121,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 360,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -239,000 | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 196,167 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | 225,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 225,000 | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -416,108 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock | -1,668,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,000 | ' | ' | ' | ' | ' | ' | ' | ' | -1,667,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled/ Forfeiture of unvested restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -51,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expired warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -45,000 | ' | ' | ' |
Net Loss | -32,670,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -32,670,000 |
Ending Balance at Dec. 31, 2010 | 30,553,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,000 | ' | ' | ' | ' | ' | ' | ' | ' | 131,530,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,789,000 | ' | ' | -123,814,000 |
Ending Balance (in shares) at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,466,562 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 2,759,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,759,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,040,000 | 6,063,161 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | 59,806,000 | 28,858,000 | ' | ' | ' | ' | ' | ' | ' | ' | 11,000 | 6,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59,795,000 | 28,852,000 | ' | ' | ' | ' |
Exercise of warrants to purchase common stock (in shares) | 2,377,571 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,377,571 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock | 12,701,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | 21,766,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,067,000 | ' | ' | ' |
Exercise of stock options | 479,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 479,666 | ' | ' | 6,904 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | 981,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 980,000 | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 848,406 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | -1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -59,559 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock | -273,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -273,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled/ Forfeiture of unvested restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -16,667 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expired warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,111,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,111,000 | ' | ' | ' |
Net Loss | -63,778,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -63,778,000 |
Ending Balance at Dec. 31, 2011 | 71,607,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69,000 | ' | ' | ' | ' | ' | ' | ' | ' | 246,519,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,611,000 | ' | ' | -187,592,000 |
Ending Balance (in shares) at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69,206,044 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 4,880,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,880,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,114,401 | ' | ' | 3,636,926 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | 49,170,000 | ' | ' | 18,694,000 | ' | ' | ' | ' | ' | ' | 11,000 | ' | ' | 3,000 | ' | ' | ' | ' | ' | ' | ' | 49,159,000 | ' | ' | 18,691,000 | ' | ' | ' | ' |
Exercise of warrants to purchase common stock (in shares) | 259,660 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 259,660 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock | 742,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,011,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -269,000 | ' | ' | ' |
Exercise of stock options | 8,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 258,032 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -123,153 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock | -546,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -546,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled/ Forfeiture of unvested restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -123,370 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expired warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,433,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,433,000 | ' | ' | ' |
Net Loss | -96,132,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -96,132,000 |
Ending Balance at Dec. 31, 2012 | 48,445,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83,000 | ' | ' | ' | ' | ' | ' | ' | ' | 325,177,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,909,000 | ' | ' | -283,724,000 |
Ending Balance (in shares) at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83,236,840 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 3,507,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,507,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,445,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | 53,880,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,864,000 | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock (in shares) | 112,808 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112,808 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of warrants to purchase common stock | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 396,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -196,000 | ' | ' | ' |
Exercise of stock options | 570,168 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 570,168 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 956,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | 955,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,272 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -116,723 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock | -498,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -498,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled/ Forfeiture of unvested restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -163,747 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expired warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,110,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,110,000 | ' | ' | ' |
Net Loss | -57,107,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -57,107,000 |
Ending Balance at Dec. 31, 2013 | $49,383,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | $386,511,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,603,000 | ' | ' | ($340,831,000) |
Ending Balance (in shares) at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,159,618 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statement_of_Stockholders_Equi1
Statement of Stockholders' Equity (Parenthetical) (USD $) | 4 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2003 | Dec. 31, 2005 | Dec. 31, 2009 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2011 | Dec. 31, 2011 |
Private Placement | Private Placement | Private Placement | Registered direct offering | Registered direct offering | Registered direct offering | Registered direct offering | Securities Offering | Collaboration Agreement | |||
Stockholders' contribution, date | 9-Sep-03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Series A convertible preferred stock, expenses | ' | $1,340 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Series A convertible preferred stock, warrant cost | ' | 1,683 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series A convertible preferred stock, par value | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Series A convertible preferred stock into common stock, conversion date | ' | 13-Sep-05 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Series A convertible preferred stock into common stock, exchange ratio | ' | 0.500974 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, issuance expenses | ' | ' | 465 | 1,909 | 2,719 | 3,678 | 3,426 | 2,203 | 2,802 | 245 | 86 |
Issuance of common stock and warrants in a registered direct offering, warrants | ' | ' | ' | ' | ' | ' | ' | ' | $22,860 | ' | ' |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 124 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Cash flows from operating activities: | ' | ' | ' | ' |
Net Loss | ($57,107) | ($96,132) | ($63,778) | ($340,831) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' | ' |
Depreciation and amortization | 738 | 658 | 268 | 3,313 |
Stock-based compensation | 3,507 | 4,880 | 2,759 | 23,688 |
Change in fair value of warrants | -1,185 | -6,050 | -7,583 | -11,956 |
Loss on disposal of fixed assets | 585 | 48 | 0 | 641 |
Common stock issued in exchange for in-process research and development | 0 | 18,694 | 17,457 | 36,151 |
(Increase) decrease in: | ' | ' | ' | ' |
Receivables | -87 | 21 | -79 | -145 |
Prepaid expenses and other current assets | 4,964 | -5,599 | -889 | -1,948 |
Other noncurrent assets | 473 | -230 | -407 | -528 |
Deposits | 4 | -43 | -4 | -128 |
Increase (decrease) in: | ' | ' | ' | ' |
Accounts payable | -1,087 | -218 | 696 | 422 |
Accrued expenses | -10,159 | 5,695 | 8,283 | 6,357 |
Deferred revenue | -800 | -800 | 4,333 | 2,733 |
Deferred rent | 625 | 244 | 109 | 1,063 |
Other noncurrent liabilities | 20 | 0 | 0 | 20 |
Net cash used in operating activities | -59,509 | -78,832 | -38,835 | -281,148 |
Cash flows from investing activities: | ' | ' | ' | ' |
Purchases of property and equipment | -132 | -1,559 | -1,156 | -4,758 |
Proceeds from sale of property and equipment | 1 | 0 | 0 | 2 |
Net cash used in investing activities | -131 | -1,559 | -1,156 | -4,756 |
Cash flows from financing activities: | ' | ' | ' | ' |
Stockholders' capital contribution | 0 | 0 | 0 | 500 |
Proceeds from exercise of stock options | 956 | 30 | 980 | 2,329 |
Payments to employees for repurchase of restricted common stock | -498 | -546 | -274 | -3,364 |
Proceeds from exercise of warrants | 200 | 330 | 12,399 | 13,278 |
Proceeds from issuance of common stock and warrants, net | 53,880 | 49,170 | 71,207 | 324,605 |
Proceeds from issuance of preferred stock, net | 0 | 0 | 0 | 16,760 |
Net cash provided by financing activities | 54,538 | 48,984 | 84,312 | 354,108 |
Net increase (decrease) in cash and cash equivalents | -5,102 | -31,407 | 44,321 | 68,204 |
Cash and cash equivalents, beginning of period | 73,306 | 104,713 | 60,392 | 0 |
Cash and cash equivalents, end of period | 68,204 | 73,306 | 104,713 | 68,204 |
Supplementary disclosure of cash flow information: | ' | ' | ' | ' |
Cash paid for interest | ' | ' | ' | ' |
Cash paid for income taxes | ' | ' | ' | ' |
Supplementary disclosure of noncash investing and financing activities: | ' | ' | ' | ' |
Warrants issued to placement agents and investors | 0 | 0 | 0 | 47,276 |
Exercise of liability-classified warrants to common shares | 0 | 412 | 303 | 764 |
Convertible Preferred Stock | ' | ' | ' | ' |
Supplementary disclosure of noncash investing and financing activities: | ' | ' | ' | ' |
Preferred stock conversion/exercise of equity-classified warrants to common stock | 0 | 0 | 0 | 16,760 |
Warrants | ' | ' | ' | ' |
Supplementary disclosure of noncash investing and financing activities: | ' | ' | ' | ' |
Preferred stock conversion/exercise of equity-classified warrants to common stock | $196 | $269 | $9,067 | $9,789 |
Organization
Organization | 12 Months Ended | ||
Dec. 31, 2013 | |||
Organization | ' | ||
1 | Organization | ||
ZIOPHARM Oncology, Inc., which we refer to as “ZIOPHARM” or the “Company”, is a biopharmaceutical company that seeks to acquire, develop and commercialize, on its own or with commercial partners, a diverse portfolio of cancer therapies that can address unmet medical needs through synthetic biology. | |||
The Company’s operations to date have consisted primarily of raising capital and conducting research and development. Accordingly, the Company is considered to be in the development stage at December 31, 2013. The Company’s fiscal year ends on December 31. | |||
The Company has operated at a loss since its inception in 2003 and has minimal revenues. The Company anticipates that losses will continue for the foreseeable future. At December 31, 2013, the Company’s accumulated deficit was approximately $340.8 million. Based upon our current plans, we anticipate that our cash resources will be sufficient to fund our operations into the second quarter of 2015. The Company’s ability to continue operations after its current cash resources are exhausted depends on its ability to obtain additional financing or to achieve profitable operations, as to which no assurances can be given. Cash requirements may vary materially from those now planned because of changes in the Company’s focus and direction of its research and development programs, competitive and technical advances, patent developments, regulatory changes or other developments. Additional financing will be required to continue operations after the Company exhausts its current cash resources and to continue its long-term plans for clinical trials and new product development. There can be no assurance that any such financing can be obtained by the Company, or if obtained, what the terms thereof may be, or that any amount that the Company is able to raise will be adequate to support the Company’s working capital requirements until it achieves profitable operations. |
Financings
Financings | 12 Months Ended | ||
Dec. 31, 2013 | |||
Financings | ' | ||
2 | Financings | ||
On October 23, 2013, the Company entered into an underwriting agreement with J. P. Morgan Securities LLC, as representative of the several underwriters named therein, relating to the issuance and sale of 14,300,000 shares of our common stock. The price to the public in the offering was $3.50 per share, and the underwriters agreed to purchase the shares from the Company pursuant to the underwriting agreement at a purchase price of $3.29 per share. Under the terms of the underwriting agreement, the Company also granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 2,145,000 shares of common stock at a purchase price of $3.29 per share, and the underwriters elected to exercise such option in full. The offering was made pursuant to the Company’s effective registration statement on Form S-3 (Registration Statement No. 333-177793) previously filed with the SEC, and a prospectus supplement thereunder. The underwriters purchased the 14,300,000 shares and the additional 2,145,000 shares on October 29, 2013. The net proceeds from the offering were approximately $53.9 million after deducting underwriting discounts and estimated offering expenses payable by the Company. | |||
On January 20, 2012, the Company entered into an underwriting agreement with J. P. Morgan Securities LLC, as representative of the several underwriters named therein, relating to the issuance and sale of 9,650,000 shares of our common stock. The price to the public in the offering was $5.20 per share, and the underwriters agreed to purchase the shares from the Company pursuant to the underwriting agreement at a purchase price of $4.888 per share. Under the terms of the underwriting agreement, the Company also granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 1,447,500 shares of common stock at a purchase price of $4.888 per share. The offering was made pursuant to the Company’s effective registration statement on Form S-3 (Registration Statement No. 333-177793) previously filed with the SEC, and a prospectus supplement thereunder. The underwriters purchased the 9,650,000 shares on January 25, 2012 and purchased an additional 464,401 shares on January 31, 2012 pursuant to the partial exercise of their option to purchase additional shares, resulting in our issuing a total of 10,114,401 shares. The net proceeds from the offering were approximately $49.2 million after deducting underwriting discounts and estimated offering expenses payable by the Company. | |||
On February 3, 2011, the Company entered into an underwriting agreement with Barclays Capital Inc., or Barclays, relating to the issuance and sale of 9,600,000 shares of the Company’s common stock in a public offering. The price to the public in the offering was $5.75 per share, and Barclays, as the sole underwriter for the offering, agreed to purchase the shares from the Company pursuant to the underwriting agreement at a purchase price of $5.425 per share. Under the terms of the underwriting agreement, the Company also granted Barclays an option, exercisable for 30 days, to purchase up to an additional 1,440,000 shares of the Company’s common stock at a purchase price of $5.425 per share. On February 8, 2011, the transactions contemplated by the underwriting agreement were completed. In connection with the closing, Barclays exercised in full its option to purchase the additional 1,440,000 shares, resulting in the Company issuing a total of 11,040,000 shares at the closing. The net proceeds from the offering were approximately $59.8 million after deducting underwriting discounts and offering expenses. | |||
On January 6, 2011, and in conjunction with the Company’s execution and delivery of the Channel Agreement with Intrexon Corporation, or Intrexon, the Company entered into a Stock Purchase Agreement and Registration Rights Agreement with Intrexon. On January 12, 2011, and pursuant to that Stock Purchase Agreement, Intrexon purchased 2,426,235 shares of the Company’s common stock in a private placement for a total purchase price of $11.6 million, or $4.80 per share. The Company simultaneously issued to Intrexon an additional 3,636,926 shares of its common stock for a cash purchase price equal to the $0.001 par value of such shares, which price was deemed paid in partial consideration for the execution and delivery of the Channel Agreement. This resulted in a non-cash expense of approximately $17.5 million for the in process research and development. Under the terms of the Stock Purchase Agreement, the Company agreed to issue to Intrexon an additional 3,636,926 shares of its common stock under certain conditions upon dosing of the first patient in a ZIOPHARM-conducted Phase 2 clinical trial in the Unites States, or similar study as the parties may agree in a country other than the United States, of a product candidate that is created, produced, developed or identified directly or indirectly by us during the term of the Channel Agreement and that, subject to certain exceptions, involves DNA administered to humans for expression of anti-cancer effectors for the purpose of treatment or prophylaxis of cancer. These shares were issued on November 7, 2012 (See Note 11 to the financial statements, Preferred Stock and Stockholders’ Equity), and when issued, the purchase price for such shares was equal to the $0.001 par value of such shares, which price was deemed paid in partial consideration for the execution and delivery of the Channel Agreement, in accordance with the terms of the Stock Purchase Agreement. Pursuant to the Registration Rights Agreement, the Company has filed a registration statement with the SEC registering the resale of the shares that we have issued or may issue to Intrexon under the Stock Purchase Agreement. | |||
Also under the Stock Purchase Agreement, if requested by the Company and subject to certain conditions, restrictions and limitations, Intrexon has agreed to purchase the Company’s securities in conjunction with “qualified” securities offerings that are conducted by the Company while the Channel Agreement remains in effect. In conjunction with a qualified offering, Intrexon has committed to purchase up to 19.99% of the securities offered and sold therein (exclusive of Intrexon’s purchase) if requested to do so by the Company. Intrexon will not be obligated to purchase securities in a “qualified” securities offering unless the Company is then in substantial compliance with its obligations under the Channel Agreement and, with respect to a “qualified” offering that is completed following January 6, 2012, the Company confirms its intent that 40% of the offering’s net proceeds shall have been spent, or in the next year will be spent, by the Company under the Channel Agreement. In the case of a “qualified” offering that is completed after January 6, 2013, Intrexon’s purchase commitment was limited to an amount equal to one-half of the proceeds spent or to be spent by the Company under the Channel Agreement. Intrexon’s aggregate purchase commitment for all future qualified offerings is capped at $50.0 million. The Company and Intrexon subsequently amended the Stock Purchase Agreement to clarify that gross proceeds from the sale of Company securities to Intrexon in a qualified offering will apply against Intrexon’s $50.0 million purchase commitment regardless of whether Intrexon participates voluntarily or at the request of the Company. As a result of Intrexon’s purchase of securities in our February 2012 and October 2013 public offerings, the remaining maximum amount of Intrexon’s equity purchase commitment is approximately $19.0 million. | |||
On May 27, 2010, the Company entered into an underwriting agreement with Jefferies & Company, Inc. (the “Representative”) relating to the issuance and sale of 7,000,000 shares of the Company’s common stock, par value $0.001 per share. The Representative, on behalf of itself and JMP Securities LLC, as underwriters for the offering, purchased 7,000,000 shares from the Company pursuant to the underwriting agreement and offered the shares to the public at a price of $5.00, and to certain dealers at that price less a concession not in excess of $0.18 per share of common stock. The net proceeds to the Company from this offering were $32.8 million, after deducting underwriting discounts, commissions and other offering expenses of $2.2 million. The offering was completed on June 2, 2010. Under the terms of the underwriting agreement, the Company granted the Representative an option, exercisable for 30 days, to purchase up to an additional 1,050,000 shares of common stock to cover over-allotments, if any. The overallotment expired on July 2, 2010, without being exercised. | |||
On December 4, 2009, the Company entered into an underwriting agreement in which JMP Securities LLC and Rodman & Renshaw, LLC agreed to serve as co-lead managers (together, the “Underwriters”) in connection with a public offering and sale by the Company of 15,484,000 units at a price to the public of $3.10 per unit for gross proceeds of $48.0 million. The Company paid $2.8 million in commissions and offering expenses and expects to use the remaining net proceeds of $45.2 million for general corporate purposes, which include ongoing research and development activities. Each unit sold in the offering consisted of one share of our common stock and an investor warrant to purchase 0.5 of a share of common stock. The shares of common stock and investor warrants were immediately separable. The closing of the transaction occurred on December 9, 2009. | |||
In connection with a 2009 underwritten public offering, the Company issued warrants to purchase an aggregate of 8,206,520 shares of common stock (including the investor warrants and 464,520 warrants issued to the Underwriters). The investor warrants are exercisable immediately and the underwriter warrants exercisable six months after the date of issuance. The warrants have an exercise price of $4.02 per share and have a five year term. The fair value of the warrants was estimated at $22.9 million using a Black-Scholes model with the following assumptions: expected volatility of 105%, risk free interest rate of 2.14%, expected life of five years and no dividends. | |||
The Company assessed whether the warrants require accounting as derivatives. The Company determined that the warrants were not indexed to the Company’s own stock in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 815, Derivatives and Hedging. As such, the Company has concluded the warrants did not meet the scope exception for determining whether the instruments require accounting as derivatives and should be classified as liabilities (see Note 9 to the financial statements, Warrants). | |||
On September 9, 2009, the Company entered into a securities purchase agreement with certain investors pursuant to which it sold a total of 2,772,337 units (the “2009 Private Placement”), each unit consisting of one share of common stock and a warrant to purchase one share of common stock for a purchase price of $1.825 per unit. The closing of the transaction occurred on September 15, 2009. In connection with the 2009 Private Placement, the Company raised approximately $5.1 million in gross proceeds. After paying $455 thousand in placement agent fees and offering expenses, the net proceeds were $4.6 million. | |||
In connection with a 2009 private placement, the Company issued warrants to purchase an aggregate of 2,910,954 shares of common stock (including 138,617 warrants issued to the placement agents) which are exercisable immediately. The warrants have an exercise price of $2.04 per share and have a five year term. The fair value of the warrants was estimated at $4.2 million using a Black-Scholes model with the following assumptions: expected volatility of 105%, risk free interest rate of 2.41%, expected life of five years and no dividends. The fair value of the warrants was recorded in the equity section of the balance sheet. | |||
The Company assessed whether the warrants require accounting as derivatives. The Company determined that the warrants were indexed to the Company’s own stock in accordance with FASB ASC Topic 815, Derivatives and Hedging. As such, the Company has concluded the warrants meet the scope exception for determining whether the instruments require accounting as derivatives and should be classified in stockholders’ equity. | |||
In connection with the 2009 Private Placement, the Company entered into a registration rights agreement with each of the investors. The registration rights agreement requires that the Company file a “resale” registration statement covering all of the shares issued in the 2009 Private Placement and the shares issuable upon exercise of the warrants issued in the 2009 Private Placement, up to the maximum number of shares able to be registered pursuant to applicable Securities and Exchange Commission (“SEC”) regulations, within 30 days of the closing of the 2009 Private Placement. The Company filed the registration statement with the SEC on September 28, 2009 (File No. 333-162160). Under the terms of the registration rights agreement, the Company is obligated to maintain the effectiveness of the “resale” registration statement until all securities therein are sold or are otherwise can be sold pursuant to Rule 144, without any restrictions. A cash penalty at the rate of 1% of the purchase price per month, capped at a maximum of 10% of the purchase price (or $506 thousand), will be triggered for any filing or effectiveness failures or if, at any time after six months following the closing of the 2009 Private Placement, the Company ceases to be current in periodic reports with the SEC. | |||
In December 2006, the FASB issued an accounting standard, which addresses an issuer’s accounting for registration payment arrangements. The accounting standard specifies that the contingent obligation to make future payments or otherwise transfer consideration under a registration payment arrangement, whether issued as a separate agreement or included as a provision of a financial instrument or other agreement, should be separately recognized and measured in accordance with FASB guidance in Accounting for Contingencies. The accounting standard further clarifies that a financial instrument subject to a registration payment arrangement should be accounted for in accordance with US GAAP without regard to the contingent obligation to transfer consideration pursuant to the registration payment arrangement. The Company applied the recognition and measurement provisions of the accounting standard to the registration rights associated with the registration rights agreement. As result, the Company believes that the contingent obligation to make future payments is not probable and as such has recorded no liability associated with these registration rights. | |||
On February 23, 2007, pursuant to subscription agreements between the Company and certain institutional and other accredited investors, the Company completed the sale of an aggregate of 5,910,049 shares of the Company’s common stock at a price of $5.225 per share in a private placement (the “2007 Offering”). In addition to these shares sold in the 2007 Offering, the Company also issued to each investor a five-year warrant to purchase, at an exercise price of $5.75 per share, an additional number of shares of common stock equal to 20 percent of the shares purchased by such investor in the 2007 Offering. In the aggregate, these warrants entitle investors to purchase an additional 1,182,015 shares of common stock. The Company estimated the fair value of these warrants at $4.7 million using the Black-Scholes model, using an assumed risk-free rate of 4.71% and an expected life of 5 years, volatility of 93%, and a dividend yield of 0%. The total gross proceeds resulting from the 2007 Offering was approximately $30.9 million, before deducting selling commissions and expenses. | |||
The Company assessed whether the warrants require accounting as derivatives. The Company determined that the warrants were indexed to the Company’s own stock in accordance with ASC Topic 815, Derivatives and Hedging. As such, the Company has concluded the warrants meet the scope exception for determining whether the instruments require accounting as derivatives and should be classified in stockholders’ equity. | |||
The Company engaged Paramount BioCapital, Inc. (“Paramount”), Oppenheimer & Co. Inc., and Griffin Securities, Inc. (together, the “2007 Placement Agents”) as placement agents in connection with the 2007 Offering. In consideration for their services, the Company paid the 2007 Placement Agents aggregate cash commissions of $1.6 million (of which $1.0 million was paid to Paramount; see Note 7 to the financial statements, Related Party Transactions) and issued 5-year warrants to the 2007 Placement Agents and their designees to purchase an aggregate of 156,058 shares of the Company’s common stock at an exercise price of $5.75 per share. In connection with the 2007 Offering, the Company also made cash payments of $222 thousand and issued 5-year warrants to purchase 21,244 shares of the Company’s common stock, at an exercise price of $5.75 per share, to a financial consultant pursuant to the non-circumvention provision of a prior agency agreement. The Company estimated the fair value of these 177,302 warrants at $709 thousand using the Black-Scholes model, using an assumed risk-free rate of 4.71% and an expected life of 5 years, volatility of 93%, and a dividend yield of 0%. | |||
The Company assessed whether the warrants require accounting as derivatives. The Company determined that the warrants were indexed to the Company’s own stock in accordance with ASC Topic 815, Derivatives and Hedging. As such, the Company has concluded the warrants meet the scope exception for determining whether the instruments require accounting as derivatives and should be classified in stockholders’ equity. | |||
Pursuant to the 2007 Offering, the Company agreed to use its best efforts to (i) file a registration statement covering the resale of the shares sold in the 2007 Offering and the common stock issuable upon exercise of the investor warrants and placement agent warrants issued in the 2007 Offering within 45 days following the closing date of the 2007 Offering, and (ii) use reasonable commercial efforts to cause the registration statement to be effective within 120 days after such final closing date. | |||
With respect to each investor in the 2007 Offering, the Company also agreed to use reasonable commercial efforts to cause the registration statement to remain effective until the earliest of (i) the date on which the investor may sell all of the shares and shares issuable upon exercise of the warrants then held by the investor pursuant to then-Rule 144 of the Securities Act of 1933 without regard to volume restrictions; and (ii) such time as all of the securities held by the investor and registered under the registration statement have been sold pursuant to a registration statement, or in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act of 1933 under Section 4(1) thereof so that all transfer restrictions and restrictive legends are removed upon the consummation of such sale. The 2007 Placement Agents have been afforded equivalent registration rights as the investors in the 2007 Offering with respect to the shares issuable upon exercise of the placement agent warrants. Effective January 1, 2007, the Company adopted a new accounting standard which requires that instruments subject to registration payments are accounted for without regard to the contingent obligation to make registration payments. As a result, the Company has determined that no contingent loss exists based on its history of timely annual, quarterly and registration filings. The Company intends to continue the timely compliance with all SEC filing requirements, which will keep the Company current and the shares registered. On March 1, 2007, the Company filed a registration statement on Form S-3 with the Securities and Exchange Commission. The registration statement was declared effective on March 26, 2007, rendering the resale of the shares issued in the 2007 Offering registered under the Securities Exchange Act of 1933 and no penalty was recorded. | |||
On May 3, 2006, pursuant to subscription agreements, the Company and certain institutional and other accredited investors, the Company completed the sale of an aggregate of 7,991,256 shares of the Company’s common stock at a price of $4.63 per share in a private placement (the “2006 Offering”). In addition to the shares, the Company also issued to each investor a five-year warrant to purchase, at an exercise price of $5.56 per share, an additional number of shares of common stock equal to 30 percent of the shares purchased by such investor in the 2006 Offering. In the aggregate, these Warrants entitle investors to purchase an additional 2,397,392 shares of common stock. The Company estimated the fair value of these warrants at $9.6 million using the Black-Scholes model, using an assumed risk-free rate of 5.01% and an expected life of 5 years, volatility of 100%, and a dividend yield of 0%. The total gross proceeds resulting from the 2006 Offering was approximately $37 million, before deducting selling commissions and expenses. | |||
The Company assessed whether the warrants require accounting as derivatives. The Company determined that the warrants were both (1) indexed to the Company’s own stock and (2) classified in stockholders’ equity in accordance with ASC Topic 815, Derivatives and Hedging. As such, the Company has concluded the warrants meet the scope exception for determining whether the instruments require accounting as derivatives and should be classified in stockholders’ equity. | |||
The Company engaged Paramount BioCapital, Inc. and Griffin Securities, Inc. (together, the “2006 Placement Agents”) as co-placement agents in connection with the 2006 Offering. In consideration for their services, the Company paid the 2006 Placement Agents and certain selected dealers engaged by the 2006 Placement Agents and their designees aggregate cash commissions of $2.6 million (of which $1.7 million was paid to Paramount; see Note 7 to the financial statements, Related Party Transactions) and issued 7-year warrants to the 2006 Placement Agents and their designees to purchase an aggregate of 799,126 shares of the Company’s common stock (10 percent of the shares sold in the 2006 Offering) at an exercise price of $5.09 per share. The Company estimated the fair value of these warrants at $3.5 million using the Black-Scholes model, using an assumed risk-free rate of 5.01% and an expected life of 7 years, volatility of 100% and a dividend yield of 0%. The Company made reimbursements of $100 thousand to the 2006 Placement Agents for their expenses incurred in connection with the 2006 Offering. | |||
Pursuant to the 2006 Offering, the Company agreed to use its best efforts to (i) file a registration statement covering the resale of the shares issued in the 2006 Offering and the common stock issuable upon exercise of the warrants issued in the 2006 Offering (including the placement agent warrants) within 30 days following the closing date of the 2006 Offering, and (ii) use its reasonable commercial efforts to cause the registration statement to be effective within 120 days after such final closing date. | |||
With respect to each investor in the 2006 Offering, the Company also agreed to use its reasonable commercial efforts to cause the registration statement to remain effective until the earliest of (i) the date on which the investor may sell all of the shares issued in the 2006 Offering and shares issuable upon exercise of the warrants then held by the investor pursuant to then-Rule 144 of the Securities Act of 1933 without regard to volume restrictions; and (ii) such time as all of the securities held by the investor and registered under the registration statement have been sold pursuant to a registration statement, or in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act of 1933 under Section 4(1) thereof so that all transfer restrictions and restrictive legends are removed upon the consummation of such sale. The 2006 Placement Agents have been afforded equivalent registration rights as the investors in the 2006 Offering with respect to the shares issuable upon exercise of the placement agent warrants. Warrants issued in the 2006 Offering are classified as equity. On May 19, 2006, the Company filed a registration statement on Form S-3 with the Securities and Exchange Commission. The registration statement was declared effective on May 30, 2006, rendering the resale of the shares issued in the 2006 Offering registered under the Securities Exchange Act of 1933 and no penalties were recorded. | |||
On August, 3, 2005, the Company entered into an Agreement and Plan of Merger dated as of August 3, 2005 (the “Merger Agreement”) with EasyWeb, Inc., a Delaware corporation (“EasyWeb”), and ZIO Acquisition Corp., a Delaware corporation and wholly-owned subsidiary of EasyWeb (“ZIO Acquisition”). EasyWeb was a company that was incorporated in September 1998 and had been in the business of designing, marketing, selling and maintaining customized and template turnkey sites on the Internet that are hosted by third parties. At the time of the Merger (as defined below), however, EasyWeb had no operating business and had limited assets and liabilities. Pursuant to the Merger Agreement, ZIO Acquisition merged with and into ZIOPHARM, with ZIOPHARM remaining as the surviving company and a wholly-owned subsidiary of EasyWeb (the “Merger”). In connection with the Merger, which was effective as of September 13, 2005, ZIO Acquisition ceased to exist and the surviving company changed its corporate name to ZIOPHARM, Inc. Based upon an Exchange Ratio, as defined in the Merger Agreement, in exchange for all of their shares of capital stock in ZIOPHARM, the ZIOPHARM stockholders received a number of shares of common stock of EasyWeb such that, upon completion of the Merger, the then-current ZIOPHARM stockholders held approximately 96.8% of the outstanding shares of common stock of EasyWeb on a fully-diluted basis. Upon completion of the Merger, EasyWeb ceased all of its remaining operations and adopted and continued implementing the business plan of ZIOPHARM. Further, effective upon the Merger, the then current officers and directors of EasyWeb resigned, and the then current officers and directors of ZIOPHARM were appointed officers and directors of EasyWeb. In conjunction with the Merger, ZIOPHARM made payments of approximately $425,000 to certain affiliates of EasyWeb in the third quarter of 2005. Subsequently, on September 14, 2005, ZIOPHARM merged into EasyWeb, and EasyWeb changed its name to ZIOPHARM Oncology, Inc. | |||
Although EasyWeb was the legal acquirer in the transaction, ZIOPHARM became the registrant with the Securities and Exchange Commission. Under generally accepted accounting principles, the transaction was accounted for as a reverse acquisition, whereby ZIOPHARM was considered the acquirer of EasyWeb for financial reporting purposes because ZIOPHARM’s stockholders controlled more than 50% of the post-transaction combined entity, the management and the board were that of ZIOPHARM after the transaction, EasyWeb had no operating activity and limited assets and liabilities as of the transaction date, and the continuing operations of the entity are those of ZIOPHARM. | |||
Accordingly, the equity of EasyWeb was adjusted to reflect a recapitalization of the stock and the equity of ZIOPHARM was adjusted to reflect a financing transaction with the proceeds equal to the net asset value of EasyWeb immediately prior to the Merger. The historical financial statements of ZIOPHARM became the historical financial statements of the Company. The historical stockholders’ equity was retroactively restated to adjust for the exchange of shares pursuant to the Merger Agreement. All share and per share information included in the accompanying financial statements and notes give effect to the exchange, except as otherwise stated. | |||
On June 6, 2005, the Company completed an offering (the “2005 Offering”) of Series A Convertible Preferred Stock (“Series A Preferred Stock”). The Company issued 4,197,946 shares at $4.31 for gross proceeds of approximately $18.1 million. In connection with the 2005 Offering, the Company compensated Paramount, placement agent for the 2005 Offering, or its affiliates for its services through the payment of (a) cash commissions equal to 7% of the gross proceeds from the sale of the shares of Series A Preferred Stock, and (b) placement warrants to acquire 419,794 shares of Series A Preferred Stock (the “Series A Stock Warrants”), exercisable for a period of 7 years from the closing date at a per-share exercise price equal to 110% of the price per share sold in the 2005 Offering. These commissions are also payable on additional sales by the Company of securities (other than in a public offering) to investors introduced to the Company by Paramount during the twelve (12) month period subsequent to the final closing of the Offering. The Company also paid Paramount an expense allowance of $50 thousand to reimburse Paramount for its out-of-pocket expenses. Also, for a period of 36 months from the final Closing, Paramount has the right of first refusal to act as the placement agent for any private sale of the Company’s securities. On September 13, 2005, the Series A Preferred Stock was converted to 4,197,946 of the Company’s common stock. Lastly, the Company has agreed to indemnify Paramount against certain liabilities, including liabilities under the Securities Act (see Note 7 to the financial statements, Related Party Transactions). | |||
The Company valued the Series A Stock Warrants using the Black-Scholes model and recorded a charge of $1.7 million against additional paid-in capital. The Company has estimated the fair value of such warrants using the Black-Scholes model, using an assumed risk-free rate of 3.93% and expected life of 7 years, volatility of 134% and dividend yield of 0%. The net proceeds from the 2005 Offering were used for research and development, licensing fees and expenses, and for working capital and general corporate purposes. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||||||
3 | Summary of Significant Accounting Policies | ||||||||||||||||
Basis of Presentation | |||||||||||||||||
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |||||||||||||||||
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 that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although the Company regularly assesses these estimates, actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known. | |||||||||||||||||
The Company’s most significant estimates and judgments used in the preparation of our financial statements are: | |||||||||||||||||
• | Clinical trial expenses; | ||||||||||||||||
• | Fair value measurements for stock based compensation and warrants; and | ||||||||||||||||
• | Income taxes. | ||||||||||||||||
Subsequent Events | |||||||||||||||||
The Company evaluated all events and transactions that occurred after the balance sheet date through the date of this filing. During this period, the Company did not identify any material events that require accounting or disclosure in these financial statements. | |||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
Cash equivalents consist primarily of demand deposit accounts and deposits in short-term U.S. treasury money market mutual funds. Cash equivalents are stated at cost, which approximates fair market value. | |||||||||||||||||
Concentrations of Credit Risk | |||||||||||||||||
Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains cash accounts in commercial banks, which may, at times, exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. | |||||||||||||||||
Property and Equipment | |||||||||||||||||
Property and equipment are recorded at cost. Expenditures for maintenance and repairs are charged to expense while the costs of significant improvements are capitalized. Depreciation is provided using the straight-line method over the following estimated useful lives of the related assets, which is between three and five years. Upon retirement or sale, the cost of the assets disposed of and the related accumulated depreciation are eliminated from the balance sheets and related gains or losses are reflected in the statements of operations. | |||||||||||||||||
Restricted Cash | |||||||||||||||||
Current assets include $200 thousand that is restricted for the Company’s former line of credit. Other non-current assets include cash of $409 thousand that is restricted as collateral for the Company’s facility leases and subleases and $103 thousand that is restricted as collateral for a line of credit. | |||||||||||||||||
Long-Lived Assets | |||||||||||||||||
The Company reviews the carrying values of its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be recoverable. Any long-lived assets held for disposal are reported at the lower of their carrying amounts or fair values less costs to sell. | |||||||||||||||||
Warrants | |||||||||||||||||
The Company applies the accounting standard which provides guidance in assessing whether an equity-based financial instrument is indexed to an entity’s own stock for purposes of determining whether a financial instrument should be treated as a derivative. In applying the methodology the Company concluded that certain warrants issued by the Company have terms that do not meet the criteria to be considered indexed to the Company’s own stock and therefore are classified as liabilities in the Company’s balance sheet. The liability classified warrants are subject to re-measurement at each balance sheet date and any change in fair value is recognized as a component of “Other income, net” in the accompanying Statement of Operations. Fair value is measured using the binomial valuation model. In December 2011, the Company switched from the Black-Scholes valuation model to the binomial valuation model as it provides a better evaluation of the fair market value of the Company’s liability-classified warrants. | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
We have certain financial assets and liabilities recorded at fair value which have been classified as Level 1, 2 or 3 within the fair value hierarchy as described in the accounting standards for fair value measurements. | |||||||||||||||||
• | Level 1—Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||
• | Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||||
• | Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||
($ in thousands) | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Description | Balance as of | Quoted Prices in | Significant Other | Significant | |||||||||||||
December 31, 2013 | Active Markets for | Observable | Unobservable Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets/Liabilities | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Cash equivalents | $ | 66,794 | $ | 66,794 | $ | — | $ | — | |||||||||
Warrant liability | $ | 11,776 | $ | — | $ | 11,776 | $ | — | |||||||||
($ in thousands) | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Description | Balance as of | Quoted Prices in | Significant Other | Significant | |||||||||||||
December 31, 2012 | Active Markets for | Observable | Unobservable Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets/Liabilities | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Cash equivalents | $ | 72,002 | $ | 72,002 | $ | — | $ | — | |||||||||
Warrant liability | $ | 12,962 | $ | — | $ | 12,962 | $ | — | |||||||||
The cash equivalents consist primarily of short term U.S. treasury money market mutual funds which are actively traded. The warrants were valued using a binomial valuation model. See Note 9 to the financial statements, Warrants, for additional disclosure on the valuation methodology and significant assumptions. | |||||||||||||||||
Revenue Recognition | |||||||||||||||||
The Company receives revenue from a collaboration agreement (see Note 8 to the financial statements, Commitments and Contingencies). Collaboration arrangements typically include payments for one or more of the following: non-refundable, upfront license fees, funding of research and development efforts, milestone payments if specified objectives are achieved and/or profit-sharing or royalties on product sales. Arrangements containing multiple elements are divided into separate units of accounting if certain criteria are met, including whether the delivered element has stand-alone value to the collaborative partner. The consideration received is then allocated among the separate units based on their respective fair values and the applicable revenue recognition criteria are applied to each of the separate units. | |||||||||||||||||
Revenue from non-refundable, upfront research and development fees is reported as research and development revenue and is recognized on a straight-line basis over the contracted or estimated period of performance, which is typically the development term. Research and development funding is earned over the period of effort. | |||||||||||||||||
Milestone payments are recognized as research and development revenue upon achievement of the milestone only if (1) the milestone payment is non-refundable, (2) substantive effort is involved in achieving the milestone and (3) the amount of the milestone is reasonable in relation to the effort expended or the risk associated with achievement of the milestone. If any of these conditions are not met, the milestone payment is deferred and recognized as revenue over the estimated remaining period of performance under the contract as the Company completes its performance obligations. | |||||||||||||||||
Research and Development Costs | |||||||||||||||||
Research and development expenditures are charged to the statement of operations as incurred. Such costs include proprietary research and development activities, purchased research and development, and expenses associated with research and development contracts, whether performed by the Company or contracted with independent third parties. | |||||||||||||||||
Income Taxes | |||||||||||||||||
Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences between the financial statement carrying amounts and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which the temporary differences are expected to be recovered or settled. The Company evaluates the realizability of our deferred tax assets and establishes a valuation allowance when it is more likely than not that all or a portion of deferred tax assets will not be realized. | |||||||||||||||||
The Company accounts for uncertain tax positions using a “more-likely-than-not” threshold for recognizing and resolving uncertain tax positions. The evaluation of uncertain tax positions is based on factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity and changes in facts or circumstances related to a tax position. The Company evaluates this tax position on an annual basis. The Company also accrues for potential interest and penalties, related to unrecognized tax benefits in income tax expense (see Note 10 to the financial statements, Income Taxes). | |||||||||||||||||
Accounting for Stock-Based Compensation | |||||||||||||||||
Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the employee’s requisite service period. Stock-based compensation expense is based on the number of awards ultimately expected to vest and is therefore reduced for an estimate of the awards that are expected to be forfeited prior to vesting. Consistent with prior years, the Company uses the Black-Scholes option pricing model which requires estimates of the expected term option holders will retain their options before exercising them and the estimated volatility of the Company’s common stock price over the expected term. | |||||||||||||||||
The Company recognizes the full impact of its share-based employee payment plans in the statements of operations for each of the years ended December 31, 2013, 2012, and 2011 and did not capitalize any such costs on the balance sheets. The Company recognized $2.3 million, $3.1 million, and $2.1 million of compensation expense related to vesting of employee stock options during the years ended December 31, 2013, 2012, and 2011, respectively. In the years ended December 31, 2013, 2012, and 2011, the Company recognized $1.2 million, $1.7 million, and $635 thousand of compensation expense, respectively, related to vesting of restricted stock (see Note 12 to the financial statements, Stock Option Plan). In the years ended December 31, 2013, 2012, and 2011, the Company recognized $3.5 million, $4.9 million, and $2.8 million of compensation expense, respectively, related to vesting of all employee and director awards. The following table presents share-based compensation expense included in the Company’s Statements of Operations: | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||||||
Research and development | $ | 792 | $ | 1,917 | $ | 890 | |||||||||||
General and administrative | 2,715 | 2,963 | 1,869 | ||||||||||||||
Share based employee compensation expense before tax | 3,507 | 4,880 | 2,759 | ||||||||||||||
Income tax benefit | — | — | — | ||||||||||||||
Net share based employee compensation expense | $ | 3,507 | $ | 4,880 | $ | 2,759 | |||||||||||
Prior to the adoption of the current accounting standards in 2006, the Company previously accounted for stock-based awards to employees using the intrinsic value method and had elected the disclosure-only alternative. All stock-based awards to nonemployees were accounted for at their fair value. The Company had recorded the fair value of each stock option issued to non-employees as determined at the date of grant using the Black-Scholes option pricing model. | |||||||||||||||||
The following table illustrates the effect on net loss and earnings per share if the Company had applied the fair value recognition provisions of current accounting standards to stock-based awards from September 9, 2003 (date of inception) to December 31, 2005: | |||||||||||||||||
(in thousands, except per share data) | September 9, 2003 | ||||||||||||||||
(date of inception) to | |||||||||||||||||
December 31, 2005 | |||||||||||||||||
Net loss: | |||||||||||||||||
As reported | $ | (15,364 | ) | ||||||||||||||
Stock-based compensation expense included in reported net loss | 802 | ||||||||||||||||
Stock-based compensation expense under the fair-value based method | (1,756 | ) | |||||||||||||||
Pro forma net loss | $ | (16,318 | ) | ||||||||||||||
Basic and diluted net loss per share: | |||||||||||||||||
As reported | $ | (3.75 | ) | ||||||||||||||
Pro forma | $ | (3.98 | ) | ||||||||||||||
The fair value of each stock option is estimated at the date of grant using the Black-Scholes option pricing model. The estimated weighted-average fair value of stock options granted to employees in 2013, 2012, and 2011 was approximately $2.51, $3.06, and $4.04 per share, respectively. Assumptions regarding volatility, expected term, dividend yield and risk-free interest rate are required for the Black-Scholes model. The volatility assumption is based on the Company’s historical experience. The risk-free interest rate is based on a U.S. treasury note with a maturity similar to the option award’s expected life. The expected life represents the average period of time that options granted are expected to be outstanding. The Company calculated expected term using the simplified method described in SEC Staff Accounting Bulletin, or SAB, No. 107 and No. 110. The assumptions for volatility, expected life, dividend yield and risk-free interest rate are presented in the table below: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Weighted average risk-free interest rate | 1.00 - 2.10% | 0.79 - 1.13% | 1.09 - 2.69% | ||||||||||||||
Expected life in years | 6 | 6 | 6 | ||||||||||||||
Expected volatility | 83.40 - 95.96% | 83.36 - 83.53% | 83.26 - 87.29% | ||||||||||||||
Expected dividend yield | 0 | 0 | 0 | ||||||||||||||
Net Loss Per Share | |||||||||||||||||
Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. The Company’s potential dilutive shares, which include outstanding common stock options, unvested restricted stock and warrants, have not been included in the computation of diluted net loss per share for any of the periods presented as the result would be antidilutive. Such potential common shares at December 31, 2013, 2012, and 2011 consist of the following: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Stock options | 6,747,303 | 7,147,303 | 5,138,486 | ||||||||||||||
Unvested restricted stock | 352,865 | 733,739 | 950,906 | ||||||||||||||
Warrants | 10,539,767 | 11,197,454 | 13,117,264 | ||||||||||||||
17,639,935 | 19,078,496 | 19,206,656 | |||||||||||||||
New Accounting Pronouncements | |||||||||||||||||
In January 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update, or ASU, No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scoping of Disclosures about Offsetting Assets and Liabilities (ASU 2013-01) which clarifies the scope of ASU No. 2011-11 requiring an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. This ASU was effective for fiscal years beginning on or after January 1, 2013 and interim periods within those annual periods. The adoption of this standard did not have an impact on our financial position or results of operations. | |||||||||||||||||
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) which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. This ASU was effective for reporting periods beginning after December 15, 2012 and did not have an impact on our financial position or results of operations. |
Restructuring
Restructuring | 12 Months Ended | ||
Dec. 31, 2013 | |||
Restructuring | ' | ||
4 | Restructuring | ||
The Company underwent restructuring activities during the year ended December 31, 2013 which included a reduction in workforce and office space, resulting in sublease agreements in Boston and New York. As a result, the Company incurred restructuring charges of $1.7 million, $0.6 million was included in general and administrative expenses and $1.1 million was included in research and development expenses. The Company also incurred charges for exit and disposal activities from the Boston and New York sublease agreements which resulted in an aggregate loss of $0.8 million recorded in general and administrative expenses, and a loss on the disposal of fixed assets of $0.6 million, recorded in Other income in the Statement of Operations for the year ended December 31, 2013 and the period from inception (September 9, 2003) through December 31, 2013. | |||
On October 17, 2013, the Company entered into a sublease agreement to lease 7,259 square feet in our New York office to a subtenant. The Company remains primarily liable to pay rent on the original lease. We recorded a loss on the sublease in the amount of $729 thousand for the year ended December 31, 2013, representing the remaining contractual obligation of $2.3 million, less $1.6 million in payments from our subtenant. We retired assets in this subleased area as a result of this sublease with a net book value of $392 thousand, and recorded a loss on disposal of fixed assets for the same amount for the year ended December 31, 2013. | |||
On August 30, 2013, the Company entered into a sublease agreement to lease 5,249 square feet in our Boston office to a subtenant. In accordance with the sublease agreement, the subtenant provided the Company with a security deposit of $20 thousand, which is recorded in other non-current assets and other liabilities on the balance sheet for the year ended December 31, 2013. The Company remains primarily liable to pay rent on the original lease. We recorded a loss on the sublease in the amount of $42 thousand for the year ended December 31, 2013, representing the remaining contractual obligation of $367 thousand, less $325 thousand in payments from our subtenant. We retired assets in this subleased area as a result of this sublease with a net book value of $194 thousand, and recorded a loss on disposal of fixed assets for the same amount for the year ended December 31, 2013. | |||
On July 16, 2012, the Company announced that it restructured its management team and closed its Germantown, MD office. As a result of this action, the Company recorded a restructuring charge, consisting primarily of severance, stock based compensation associated with stock option modifications (see Note 12 to the financial statements, Stock Option Plan) and health benefit continuation costs of approximately $1.3 million. These costs are included in general and administrative expense for the year ended December 31, 2012 and the period from inception (September 9, 2003) through December 31, 2013. |
Property_and_Equipment_net
Property and Equipment, net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property and Equipment, net | ' | ||||||||
5 | Property and Equipment, net | ||||||||
Property and equipment, net consist of the following: | |||||||||
December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Office and computer equipment | $ | 1,076 | $ | 1,552 | |||||
Software | 884 | 856 | |||||||
Leasehold improvements | 841 | 1,357 | |||||||
Manufacturing equipment | 153 | 153 | |||||||
2,954 | 3,918 | ||||||||
Less: accumulated depreciation | (2,153 | ) | (1,924 | ) | |||||
Property and equipment, net | $ | 801 | $ | 1,994 | |||||
Depreciation and amortization charged to the Statement of Operations for the years ended December 31, 2013, 2012, 2011 and from September 9, 2003 (date of inception) to December 31, 2013 (in thousands) was: $738, $658, $268, and $3,313, respectively. |
Accrued_Expenses
Accrued Expenses | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accrued Expenses | ' | ||||||||
6 | Accrued Expenses | ||||||||
Accrued expenses consist of the following: | |||||||||
December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Professional services | $ | 582 | $ | 835 | |||||
Clinical consulting services | 3,751 | 9,628 | |||||||
Preclinical services | 513 | 411 | |||||||
Manufacturing services | 547 | 3,217 | |||||||
Accrued vacation | 227 | 452 | |||||||
Other consulting services | 230 | 903 | |||||||
Payroll taxes and benefits | 255 | 585 | |||||||
Severance | — | 474 | |||||||
Employee compensation | 252 | 11 | |||||||
Accrued expenses | $ | 6,357 | $ | 16,516 | |||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||
Dec. 31, 2013 | |||
Related Party Transactions | ' | ||
7 | Related Party Transactions | ||
During 2005, the Company engaged Paramount to assist in placing shares of Series A Preferred Stock on a “best efforts” basis. Lindsay A. Rosenwald, M.D. is Chairman and Chief Executive Officer of Paramount. Dr. Rosenwald is also a managing member of Horizon BioMedical Ventures, LLC, or Horizon. On December 30, 2004, Horizon authorized the distribution of 2,428,911 (4,848,376 pre-Merger) shares of the Company’s common stock (such shares, the “Horizon Distributed Shares”), in equal installments of 1,214,456 (2,424,188 pre-Merger) shares of common stock to Mibars, LLC, or Mibars, and to Dr. Rosenwald and his designees, which we refer to as the “Designated Shares”. The disposition of the Designated Shares will be subject to certain restrictions as agreed to among Dr. Rosenwald and Dr. Rosenwald’s designees. Among other things, under certain circumstances set forth in pledge agreements between Dr. Rosenwald and his designees, Dr. Rosenwald has the right to re-acquire the Designated Shares from his designees. As a result of those rights, Dr. Rosenwald may be deemed to be an affiliate of the Company. | |||
In connection with the December 22, 2004 Option Agreement with Southern Research Institute, or SRI, the Company entered into a Finders Agreement, dated December 23, 2004, with Paramount pursuant to which the Company has agreed to compensate Paramount, for services in connection with the Company’s introduction to SRI through the payment of (a) a cash fee of $60 thousand and (b) warrants to purchase 62,621 (125,000 pre-Merger) shares of the Company’s common stock at a price equal to $4.75 ($2.38 pre-Merger) per share. The Company has estimated the fair value of such warrants using the Black-Scholes model, using an assumed risk-free rate of 3.93%, and expected life of 7 years, volatility of 134% and dividend yield of 0%. In December 2004, the Company expensed the $60 thousand that was payable to Paramount and recognized compensation expense in the amount of $251 thousand for the issuance of the warrants. These warrants expired on December 23, 2011. | |||
In connection with the Series A Preferred Stock Offering, the Company and Paramount entered into an Introduction Agreement in January 2005, pursuant to which the Company had agreed to compensate Paramount for its services in connection with the Offering through the payment of (a) cash commissions equal to 7% of the gross proceeds from the sale of the shares of Series A Preferred Stock, and (b) placement warrants to acquire a number of shares of Series A Preferred Stock equal to 10% of the number of shares of Series A Preferred Stock issued in the Offering, exercisable for a period of 7 years from the Closing Date at a per Share exercise price equal to 110% of the price per Share sold in the Offering. These commissions are also payable on additional sales by the Company of securities (other than in a public offering) to investors introduced to the Company by Paramount during the 12 month period subsequent to the final closing of the Offering. The Company also agreed to pay to Paramount a non-accountable expense allowance of $50 thousand to reimburse Paramount for its out-of-pocket expenses. Also, for a period of 36 months from the final Closing, Paramount has the right of first refusal to act as the placement agent for the private sale of the Company’s securities. Lastly, the Company has agreed to indemnify Paramount against certain liabilities, including liabilities under the Securities Act. | |||
In connection with the 2006 Offering, on May 3, 2006, the Company paid Paramount a cash commission equal to 7% of the gross proceeds from the sale of the Shares sold by Paramount in the 2006 Offering, resulting in a cash payment of approximately $1.7 million. In addition, the Company issued 7-year warrants to the 2006 Placement Agents and their designees to purchase an aggregate of 799,126 shares (10% of the Shares sold in the Offering) of the Company’s common stock, of which 532,750 were issued to Paramount at an exercise price of $5.09 per share. | |||
On December 18, 2006 the Company paid Paramount a cash settlement of $180 thousand in exchange for Paramount’s agreement to terminate certain of its rights under the 2005 and 2004 agreements. This amount was expensed in the year ended December 31, 2006. | |||
Mr. Timothy McInerney, who is a member of the Board of Directors of the Company, was a full-time employee of Paramount from 1992 through March 2007. In addition, Michael Weiser, a current member of the Board of Directors of the Company, and David M. Tanen, who was a member of the Board of Directors of the Company, were full-time employees of Paramount from July 1998 through November 2006, and July 1996 through August 2004, respectively. Mr. John Knox, our former Treasurer, was also a full-time Paramount employee. | |||
In connection with the 2007 Offering, on February 23, 2007, the Company paid Paramount cash commissions equal to 6% of the gross proceeds from the sale of the shares sold by Paramount in the 2007 Offering, resulting in a cash payment of approximately $1.0 million. In addition, the Company issued 5-year warrants to the placement agents in the 2007 Offering and their designees to purchase an aggregate of 177,302 shares (3% of the shares sold in the 2007 Offering) of the Company’s common stock at an exercise price of $5.75 per share, of which 97,536 were issued to Paramount. | |||
During the year ended December 31, 2008, there were no related party transactions. | |||
Mr. Timothy McInerney, who is a member of the Board of Directors of the Company, has been a Partner at Riverbank Capital Securities, Inc. since June 2007. In connection with the 2009 Private Placement, on September 15, 2009, the Company paid Riverbank Capital Securities, Inc. cash commissions equal to 3.325% of the gross proceeds from the sale of the shares sold by Riverbank Capital Securities, Inc. in the 2009 Private Placement, resulting in a payment of approximately $168 thousand. In addition, the Company issued 5-year warrants to the placement agents in the 2009 Private Placement and their designees to purchase an aggregate of 138,617 shares of the Company’s common stock (5% of the shares sold in the September 2009 Offering) at an exercise price of $2.04 per share, of which 65,843 were issued to Riverbank Capital Securities, Inc. | |||
On January 6, 2011, the Company entered into an Exclusive Channel Partner Agreement, or Channel Agreement, with Intrexon Corporation, or Intrexon (see Note 8 to the financial statements, Commitments and Contingencies, for additional disclosure relating to the Channel Agreement). Our director, Randall J. Kirk, is the CEO, a director, and the largest stockholder of Intrexon. During the year ended December 31, 2012, the Company paid Intrexon approximately $11.4 million, of which $6.6 million was for services already incurred and the remaining $4.8 million was for services expected to be incurred within a year. This amount was included as part of prepaid expenses and other current assets on the balance sheet as of December 31, 2012. During the year ended December 31, 2013, the Company expensed $7.8 million for services performed by Intrexon, of which $4.8 million was applied to the prepaid balance in other current assets, $2.4 million was paid to Intrexon and $0.6 million was recorded in accrued expenses. As of December 31, 2013, the prepaid balance in other current assets on the accompanying balance sheet has been reduced to $0. | |||
On January 25, 2012, Intrexon purchased 1,923,075 shares of common stock in the Company’s public offering (see Note 2 to the financial statements, Financings). | |||
On November 7, 2012, the Company issued 3,636,926 shares of common stock to Intrexon (see Note 11 to the financial statements, Preferred Stock and Stockholders’ Equity). | |||
On October 29, 2013, Intrexon purchased 2,857,143 shares of common stock in the Company’s public offering (see Note 2 to the financial statements, Financings). |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies | ' | ||||
8 | Commitments and Contingencies | ||||
Operating Leases | |||||
Prior to December 31, 2012, the Company entered into an operating lease in New York, NY, consisting of 6,251 square feet of office space. In accordance with this agreement, the Company entered into a letter of credit in the amount of $388 thousand, naming the Company’s landlord as beneficiary. In January 2012, the Company amended the lease agreement, adding 1,008 square feet of office space. As of December 31, 2012, the Company occupied 7,259 square feet of space in New York, NY, and maintained a $388 thousand letter of credit. The collateral for the letter of credit is recorded in other non-current assets on the balance sheet as of December 31, 2012. The lease for office space in New York, NY expires in October 2018. | |||||
On October 17, 2013, the Company entered into a sublease agreement to lease 7,259 square feet in our New York office to a subtenant. The Company remains primarily liable to pay rent on the original lease. We recorded a loss on the sublease in the amount of $729 thousand for the year ended December 31, 2013, representing the remaining contractual obligation of $2.3 million, less $1.6 million in payments from our subtenant. We retired assets in this subleased area as a result of this sublease with a net book value of $392 thousand, and recorded a loss on disposal of fixed assets for the same amount for the year ended December 31, 2013. The Company continues to maintain a $388 thousand letter of credit. The collateral for the letter of credit is recorded in other non-current assets on the balance sheet as of December 31, 2013. The lease for office space in New York, NY expires in October 2018. | |||||
Prior to December 31, 2012, the Company entered into separate operating lease agreements for various spaces in a building in Boston, MA. That space consisted of 5,249 square feet on the first floor, 8,538 square feet on the second floor, and 6,959 square feet on the third floor. In June 2012, the Company re-negotiated a master lease for the entire Boston office space, added 9,800 square feet of office space on the fourth floor, surrendered 4,113 square feet from the second floor, and incorporated all floors’ lease agreements under the same master agreement expiring in August 2016. The Company provided an additional $41 thousand security deposit for the additional space on the fourth floor. As of December 31, 2012, a total security deposit of $127 thousand was paid to its landlord for security deposits for these agreements. | |||||
On August 30, 2013, the Company entered into a sublease agreement to lease 5,249 square feet in our Boston office to a subtenant. The Company remains primarily liable to pay rent on the original lease. We recorded a loss on the sublease in the amount of $42 thousand for the year ended December 31, 2013, representing the remaining contractual obligation of $367 thousand, less $325 thousand in payments from our subtenant. We retired assets in this subleased area as a result of this sublease with a net book value of $194 thousand, and recorded a loss on disposal of fixed assets. In accordance with the sublease agreement, the subtenant provided the Company with a security deposit of $20 thousand, which is recorded in other non-current assets and other liabilities on the balance sheet for the year ended December 31, 2013. | |||||
As of December 31, 2013, the Company occupies 21,184 square feet of space in its Boston, MA office and has paid a total of $127 thousand for security deposits, which are recorded in other non-current assets on the balance sheet. | |||||
In April 2011, the Company entered into an operating lease for office space in Germantown, MD, consisting of 2,227 square feet. As of December 31, 2011, the Company recorded the $4 thousand security deposit in other non-current assets on the balance sheet. The lease would have expired in March 2014; however, on July 16, 2012, the Germantown, Maryland office was closed. In June 2013, we paid off the remainder of the Germantown, Maryland lease obligation. | |||||
Future net minimum lease payments under operating leases as of December 31, 2013 are as follows (in thousands): | |||||
2014 | $ | 1,196 | |||
2015 | 1,236 | ||||
2016 | 997 | ||||
2017 | 501 | ||||
2018 | 424 | ||||
4,354 | |||||
Less: contractual sublease income | (1,883 | ) | |||
Future minimum lease payments, net | $ | 2,471 | |||
Total rent expense was approximately $1.0 million, $1.1 million, $647 thousand, and $5.2 million for the years ended December 31, 2013, 2012, 2011 and from September 9, 2003 (date of inception) to December 31, 2013, respectively. | |||||
The Company records rent expense on a straight-line basis over the term of the lease. Accordingly, the Company has recorded a liability for deferred rent at December 31, 2013 and 2012 of $1.1 million ($212 thousand current and $851 long-term) and $439 thousand ($39 thousand current and $400 thousand long-term), respectively, which is recorded in deferred rent on the balance sheet. | |||||
License Agreements | |||||
Patent and Technology License Agreement—The University of Texas M. D. Anderson Cancer Center and the Texas A&M University System. | |||||
On August 24, 2004, the Company entered into a patent and technology license agreement with The Board of Regents of the University of Texas System, acting on behalf of The University of Texas M. D. Anderson Cancer Center and the Texas A&M University System, which the Company refers to, collectively, as the Licensors. Under this agreement, the Company was granted an exclusive, worldwide license to rights (including rights to U.S. and foreign patent and patent applications and related improvements and know-how) for the manufacture and commercialization of two classes of organic arsenicals (water- and lipid-based) for human and animal use. The class of water-based organic arsenicals includes darinaparsin. | |||||
As partial consideration for the license rights obtained, the Company made an upfront payment in 2004 of $125 thousand and granted the Licensors 250,487 shares of the Company’s common stock. In addition, the Company issued options to purchase an additional 50,222 shares outside the 2003 Stock Option Plan for $0.002 per share following the successful completion of certain clinical milestones, which vested with respect to 12,555 shares upon the filing of an Investigation New Drug application, or IND, for darinaparsin in 2005 and vested with respect to another 25,111 shares upon the completion of dosing of the last patient for both Phase 1 clinical trials in 2007. The Company recorded $120 thousand of stock based compensation expense related to the vesting in 2007. The remaining 12,556 shares will vest upon enrollment of the first patient in a multi-center pivotal clinical trial i.e. a human clinical trial intended to provide the substantial evidence of efficacy necessary to support the filing of an approvable New Drug Application, or NDA. In addition, the Licensors are entitled to receive certain milestone payments, including $100 thousand that was paid in 2005 upon the commencement of Phase 1 clinical trial and $250 thousand that was paid in 2006 upon the dosing of the first patient in the Registrant-sponsored Phase 2 clinical trial for darinaparsin. The Company may be required to make additional payments upon achievement of certain other milestones in varying amounts which on a cumulative basis could total up to an additional $4.5 million. In addition, the Licensors are entitled to receive single digit percentage royalty payments on sales from a licensed product and will also be entitled to receive a portion of any fees that the Company may receive from a possible sublicense under certain circumstances. In addition, the Company also paid the Licensors $100 thousand in 2006 and 2007 to conduct scientific research with the Company obtaining exclusive right to all resulting intellectual property rights. The sponsored research agreements governing this research and any related extensions expired in February 2008 with no payments being made subsequent to that date. | |||||
The license agreement also contains other provisions customary and common in similar agreements within the industry, such as the right to sublicense the Company rights under the agreement. However, if the Company sublicenses its rights prior to the commencement of a pivotal study i.e. a human clinical trial intended to provide the substantial evidence of efficacy necessary to support the filing of an approvable NDA, the Licensors will be entitled to receive a share of the payments received by the Company in exchange for the sublicense (subject to certain exceptions). The term of the license agreement extends until the expiration of all claims under patents and patent applications associated with the licensed technology, subject to earlier termination in the event of defaults by the Company or the Licensors under the license agreement, or if the Company becomes bankrupt or insolvent. No milestones under the license agreement were reached or expensed during the years ended December 31, 2013, 2012 or 2011. | |||||
License Agreement with DEKK-Tec, Inc. | |||||
On October 15, 2004, the Company entered into a license agreement with DEKK-Tec, Inc., pursuant to which it was granted an exclusive, worldwide license for palifosfamide. As part of the signing of license agreement with DEKK-Tec, the Company expensed an upfront $50 thousand payment to DEKK-Tec in 2004. | |||||
In consideration for the license rights, DEKK-Tec is entitled to receive payments upon achieving certain milestones in varying amounts which on a cumulative basis may total $4.0 million. Of the aggregate milestone payments, most will be creditable against future royalty payments as referenced below. The Company expensed a $100 thousand milestone payment upon achieving Phase 2 milestones during the year ended December 31, 2006. Additionally, in 2004 the Company issued DEKK-Tec an option to purchase 27,616 shares of the Company’s common stock for $0.02 per share. Upon the execution of the license agreement, 6,904 shares vested and were subsequently exercised in 2005 and the remaining options will vest upon certain milestone events, culminating with final FDA approval of the first NDA submitted by the Company (or by its sublicensee) for palifosfamide. DEKK-Tec is entitled to receive single digit percentage royalty payments on the sales of palifosfamide should it be approved for commercial sale. On March 16, 2010, the Company expensed a $100 thousand milestone payment upon receiving a United States Patent for palifosfamide. There were no payments made during 2009. In December 2010, the Company expensed a $300 thousand milestone payment and vested 6,904 stock options upon achieving Phase 3 milestones. These options were subsequently exercised in 2011. The Company’s obligation to pay royalties will terminate on a country-by-country basis upon the expiration of all valid claims of patents in such country covering licensed product, subject to earlier termination in the event of defaults by the parties under the license agreement. No milestones under the license agreement have been reached or expensed since 2010. | |||||
License Agreement with Southern Research Institute | |||||
On December 22, 2004, the Company entered into an Option Agreement with the Southern Research Institute, or SRI, pursuant to which the Company was granted an exclusive option to obtain an exclusive license to SRI’s interest in certain intellectual property, including exclusive rights related to certain isophosphoramide mustard analogs. | |||||
Also on December 22, 2004, the Company entered into a Research Agreement with SRI pursuant to which the Company agreed to spend a sum not to exceed $200 thousand between the execution of the agreement and December 21, 2006, including a $25 thousand payment that was made simultaneously with the execution of the agreement, to fund research and development work by SRI in the field of isophosphoramide mustard analogs. The option agreement was exercised on February 13, 2007. Under the license agreement entered into upon exercise of the option, the Company is required to remit minimum annual royalty payments of $25 thousand until the first commercial sale of a licensed product. These payments were made for the years ended December 31, 2013, 2012, 2011, 2010, 2009 and 2008. The Company may be required to make payments upon achievement of certain milestones in varying amounts which on a cumulative basis could total up to $775,000. In addition, SRI will be entitled to receive single digit percentage royalty payments on the sales of a licensed product in any country until all licensed patents rights in that country which are utilized in the product have expired. No milestones under the license agreement were reached or expensed since the agreement’s inception. | |||||
License Agreement with Baxter Healthcare Corporation | |||||
On November 3, 2006, the Company entered into a definitive Asset Purchase Agreement for indibulin and a License Agreement to proprietary nanosuspension technology with affiliates of Baxter Healthcare S.A. The purchase included the entire indibulin intellectual property portfolio as well as existing drug substance and capsule inventories. The terms of the Asset Purchase Agreement included an upfront cash payment of approximately $1.1 million and an additional $100 thousand payment for existing inventory, both of which were expensed in 2006. In addition to the upfront costs, the Asset Purchase Agreement includes additional diligence and milestone payments that could amount to approximately $8 million in the aggregate and royalties on net sales of products covered by a valid claim of a patent for the life of the patent on a country-by-country basis. The Company expensed a $625 thousand milestone payment upon the successful U.S. IND application for indibulin in 2007. The License Agreement requires payment of a $15 thousand annual patent and license prosecution/maintenance fee through the expiration of the last of the licensed patents which is expected to expire in 2025, and single digit royalties on net sales of licensed products covered by a valid claim of a patent for the life of the patent on a country-by-country basis. The term of the license agreement extends until the expiration of the last to expire of the patents covering the licensed products, subject to earlier termination in the event of defaults by the parties under the license agreement. | |||||
In October 2009, the Baxter License Agreement was amended to allow the Company to manufacture indibulin. No milestones under the license agreement were reached or expensed during the years ended December 31, 2011 or 2010. During each of the years ended December 31, 2013 and 2012, milestones of $250 thousand were reached and expensed. | |||||
Exclusive Channel Partner Agreement with Intrexon Corporation | |||||
On January 6, 2011, we entered into an Exclusive Channel Partner Agreement, or the Channel Agreement, with Intrexon that governs a “channel partnering” arrangement in which we use Intrexon’s technology directed towards in vivo expression of effectors in connection with the development of Ad-RTS-IL-12 + veledimex and DC-RTS-IL-12 + veledimex and generally to research, develop and commercialize products, in each case in which DNA is administered to humans for expression of anti-cancer effectors for the purpose of treatment or prophylaxis of cancer, which we collectively refer to as the Cancer Program. The Channel Agreement establishes committees comprised of representatives of us and Intrexon that govern activities related to the Cancer Program in the areas of project establishment, chemistry, manufacturing and controls, clinical and regulatory matters, commercialization efforts and intellectual property. | |||||
The Channel Agreement grants us a worldwide license to use patents and other intellectual property of Intrexon in connection with the research, development, use, importing, manufacture, sale, and offer for sale of products involving DNA administered to humans for expression of anti-cancer effectors for the purpose of treatment or prophylaxis of cancer, which we collectively refer to as the ZIOPHARM Products. Such license is exclusive with respect to any clinical development, selling, offering for sale or other commercialization of ZIOPHARM Products, and otherwise is non-exclusive. Subject to limited exceptions, we may not sublicense the rights described without Intrexon’s written consent. | |||||
Under the Channel Agreement, and subject to certain exceptions, we are responsible for, among other things, the performance of the Cancer Program, including development, commercialization and certain aspects of manufacturing of ZIOPHARM Products. Intrexon is responsible for the costs of establishing manufacturing capabilities and facilities for the bulk manufacture of products developed under the Cancer Program, certain other aspects of manufacturing and costs of discovery-stage research with respect to platform improvements and costs of filing, prosecution and maintenance of Intrexon’s patents. | |||||
Subject to certain expense allocations and other offsets provided in the Channel Agreement, we will pay Intrexon on a quarterly basis 50% of net profits derived in that quarter from the sale of ZIOPHARM Products, calculated on a ZIOPHARM Product-by- ZIOPHARM Product basis. We have likewise agreed to pay Intrexon on a quarterly basis 50% of revenue obtained in that quarter from a sublicensor in the event of a sublicensing arrangement. In addition, in partial consideration for each party’s execution and delivery of the Channel Agreement, we entered into a Stock Purchase Agreement with Intrexon (see Note 2 to the financial statements, Financings). | |||||
Following the first 24 months of the agreement, Intrexon had the option to terminate the Channel Agreement, if we failed to use diligent efforts to develop and commercialize ZIOPHARM Products or if we elected not to pursue the development of a Cancer Program identified by Intrexon that is a “Superior Therapy” as defined in the Channel Agreement. Also following the first 24 months of the agreement, we had the option to voluntarily terminate the Channel Agreement, upon 90 days written notice to Intrexon. The 24 month termination period expired during the year ended December 31, 2013. | |||||
Upon termination of the Channel Agreement, we may continue to develop and commercialize any ZIOPHARM Product that, at the time of termination: | |||||
• | Is being commercialized by us; | ||||
• | Has received regulatory approval; | ||||
• | Is a subject of an application for regulatory approval that is pending before the applicable regulatory authority; or | ||||
• | Is the subject of at least an ongoing Phase 2 clinical trial (in the case of a termination by Intrexon due to an uncured breach or a voluntary termination by us), or an ongoing Phase 1 clinical trial in the field (in the case of a termination by us due to an uncured breach or a termination by Intrexon following an unconsented assignment by us or our election not to pursue development of a Superior Therapy). | ||||
Our obligation to pay 50% of net profits or revenue described above with respect to these “retained” products will survive termination of the Channel Agreement. | |||||
Collaboration Agreement with Harmon Hill, LLC | |||||
On April 8, 2008, the Company signed a collaboration agreement for Harmon Hill, LLC, or Harmon Hill, to provide consulting and other services for the development and commercialization of oncology therapeutics by ZIOPHARM. Under the agreement the Company has agreed to pay Harmon Hill $20 thousand per month for the consulting services and has further agreed to pay Harmon Hill (a) $500 thousand upon the first patient dosing of the Specified Drug, as defined in the collaboration agreement, in a pivotal trial, which trial uses a dosing Regime introduced by Harmon Hill; and (b) provided that the Specified Drug receives regulatory approval from the FDA, the European Medicines Agency or another regulatory agency for the marketing of the Specified Drug, a 1% royalty of the Company’s net sales will be awarded to Harmon Hill. | |||||
If the Specified Drug is sublicensed to a third party, the agreement entitles Harmon Hill to 1% award of royalties or other payments received from a sublicense. Subject to renewal or extension by the parties, the term of the agreement was for a one year period that expired April 8, 2009. Following such expiration, the parties continued to operate under the terms of the agreement and, during 2010, the agreement was formally extended through April 8, 2011 and again through April 8, 2012. The agreement was extended through November 8, 2012 and has now expired. The Company expensed $240 thousand during the years ended December 31, 2011 and 2010 and expensed $200 thousand during the year ended December 31, 2012 for consulting services per the aforementioned agreement. No milestones under the collaboration agreement were reached or expensed during the years ended December 31, 2013, 2012, 2011 or 2010. | |||||
On June 27, 2013, the Company signed a new collaboration agreement with Harmon Hill to provide consulting and other services for the development and commercialization of oncology therapeutics by ZIOPHARM, effective April 1, 2013. Under the agreement the Company has agreed to pay Harmon Hill $15 thousand per month for the consulting services. Subject to renewal or extension by the parties, the term of the agreement is for a one year period. The Company expensed $135 thousand for the year ended December 31, 2013. | |||||
Collaboration Agreement with Solasia Pharma K.K. | |||||
On March 7, 2011, the Company entered into a License and Collaboration Agreement with Solasia Pharma K.K., or Solasia. | |||||
Pursuant to the License and Collaboration Agreement, the Company granted Solasia an exclusive license to develop and commercialize darinaparsin in both IV and oral forms and related organic arsenic molecules, in all indications for human use in a pan- Asian/Pacific territory comprised of Japan, China, Hong Kong, Macau, Republic of Korea, Taiwan, Singapore, Australia, New Zealand, Malaysia, Indonesia, Philippines and Thailand. | |||||
As consideration for the license, the Company received an upfront payment of $5.0 million to be used exclusively for further clinical development of darinaparsin outside of the pan-Asian/Pacific territory, and will be entitled to receive additional payments of up to $32.5 million in development-based milestones and up to $53.5 million in sales-based milestones. The Company will also be entitled to receive double digit royalty payments from Solasia based upon net sales of licensed products in the applicable territories, once commercialized, and a percentage of sublicense revenues generated by Solasia. | |||||
The upfront payment for research and development funding is earned over the period of effort. The Company currently estimates this period to be 75 months, which could be adjusted in the future. | |||||
Under the License and Collaboration Agreement, the Company provides Solasia with drug product to conduct clinical trials. These transfers are accounted for as a reduction of research and development costs and an increase in collaboration receivables. | |||||
The agreement provides that Solasia will be responsible for the development and commercialization of darinaparsin in the pan-Asian/Pacific territory. | |||||
CRO Services Agreement with PPD Development, L. P. | |||||
The Company is party to a Master Clinical Research Organization Services Agreement with PPD Development, L. P., or PPD, dated January 29, 2010, a related work order dated June 25, 2010 and a related work order dated April 8, 2011 under which PPD provides clinical research organization, or CRO, services in support of the Company’s clinical trials. PPD is entitled to cumulative payments of up to $20.0 million under these arrangements, which is payable by the Company in varying amounts upon PPD achieving specified milestones. During the year ended December 31, 2010, the Company expensed $1.8 million upon contract execution and $1.1 million upon a clinical study commencement of enrollment in North America. During the year ended December 31, 2011, additional milestones related to commencing enrollment in Europe, Latin America and Asia along with enrollment based milestones were met and the Company recorded an aggregate $4.0 million expense. During the year ended December 31, 2012, additional enrollment-based and contract modification milestones were met and expensed totaling $3.8 million. During the year ended December 31, 2013, patient progression and data based milestones totaling $9.2 million were met and expensed. | |||||
CRO Services Agreement with Pharmaceutical Research Associates, Inc. | |||||
On December 13, 2011, we entered into a Master Clinical Research Organization Services Agreement with Pharmaceutical Research Associates, Inc., or PRA, under which PRA provides CRO services in support of our clinical trials. PRA is entitled to cumulative payments of up to $9.5 million under these arrangements, which is payable by us in varying amounts upon PRA achieving specified milestones. During the year ended December 31, 2012, we expensed $7.3 million upon the achievement of various letter of intent and enrollment-based milestones. During the year ended December 31, 2013, contract modification and patient enrollment based milestones totaling $2.2 million were met and expensed. | |||||
CRO Services Agreement with Novella Clinical, Inc. | |||||
On December 4, 2008, we entered into a Master Clinical Research Organization Services Agreement with Novella Clinical, Inc., or Novella, under which PRA provides CRO services in support of our clinical trials. The work order for the newest trial being conducted by Novella was signed on November 2, 2012. Novella is entitled to cumulative payments of up to $790 thousand under these arrangements, which is payable by us in varying amounts upon Novella achieving specified milestones. During the year ended December 31, 2012, we expensed $256 thousand upon the achievement of various milestones. During the year ended December 31, 2013, two database related milestones and one site activation related milestone were met and expensed totaling $136 thousand. |
Warrants
Warrants | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Warrants | ' | ||||||||||||
9 | Warrants | ||||||||||||
The Company has issued both warrants that are accounted for as liabilities and warrants that are accounted for as equity instruments. | |||||||||||||
The Company follows accounting standards that provide guidance in assessing whether an equity-issued financial instrument is indexed to an entity’s own stock for purposes of determining whether a financial instrument should be treated as a derivative and classified as a liability. Accounting standards require that liability classified warrants be recorded at their fair value at each financial reporting period and the resulting gain or loss be recorded as other income (expense) in the Statements of Operations. Fair value is measured using the binomial valuation model. | |||||||||||||
In May 2005, the Company issued 419,786 warrants to placement agents for services performed in connection with the 2005 Offering, 11,083 of which were subsequently exercised. The remaining 408,703 warrants were originally valued at $1.6 million. Subject to certain exceptions, these warrants provide for anti-dilution protection should common stock or common stock equivalents be subsequently issued at a price less than the exercise price of the warrants then in effect, which was initially $4.75 per share. This provision was triggered in 2006 when stock was sold at $4.63 per share in the 2006 Offering. Accordingly, the warrants were re-priced at $4.69. The provision was triggered a second time with 2009 Private Placement when stock was sold at $1.825 per share and the warrants were subsequently re-priced at $4.25. The provision was triggered again with the Company’s December 2009 public offering when stock was sold at $3.10 per share and the warrants were subsequently re-priced at $3.93. Using a Black-Scholes model, the warrants were valued at $72 thousand on January 1, 2009, when the accounting standard was adopted. The reclassification attributed to adoption of the standard had the following cumulative effect on the Balance Sheets: | |||||||||||||
(in thousands) | Liabilities | Stockholders’ Equity | |||||||||||
Warrants | Warrants | Deficit Accumulated | |||||||||||
During the Development | |||||||||||||
Stage | |||||||||||||
As reported on December 31, 2008 | $ | — | $ | 20,504 | $ | (85,061 | ) | ||||||
Re-classification | 72 | (1,638 | ) | 1,566 | |||||||||
Balance on January 1, 2009 | $ | 72 | $ | 18,866 | $ | (83,495 | ) | ||||||
The following Black-Scholes pricing assumptions were used at January 1, 2009: | |||||||||||||
January 1, 2009 | |||||||||||||
Risk-free interest rate | 1.55 | % | |||||||||||
Expected life in years | 3.42 | ||||||||||||
Expected volatility | 102 | % | |||||||||||
Expected dividend yield | 0 | ||||||||||||
Also, in connection with the December 2009 public offering, the Company issued warrants to purchase an aggregate of 8,206,520 shares of common stock (including the investor warrants and 464,520 warrants issued to the Underwriters). The investor warrants are exercisable immediately and the underwriter warrants exercisable six months after the date of issuance. The warrants have an exercise price of $4.02 per share and have a 5 year term. The fair value of the warrants was estimated at $22.9 million using a Black-Scholes model with the following assumptions: expected volatility of 105%, risk free interest rate of 2.14%, expected life of 5 years and no dividends. | |||||||||||||
Subject to certain exceptions, these warrants provide for anti-dilution protection should common stock or common stock equivalents be subsequently issued at a price less than the exercise price of the warrants then in effect, which was initially $4.02 per share. This provision was triggered in 2013 when stock was sold at $3.50 per share in our 2013 public offering. Accordingly, the outstanding warrants were increased by 184,367 warrants to 8,235,076 warrants. | |||||||||||||
The Company assessed whether the 2005 Warrants and the 2009 Warrants require accounting as derivatives. The Company determined that the warrants were not indexed to the Company’s own stock in accordance with accounting standards codification Topic 815, Derivatives and Hedging. As such, the Company has concluded the warrants did not meet the scope exception for determining whether the instruments require accounting as derivatives and should be classified in liabilities. | |||||||||||||
On December 31, 2013, the liability-classified warrants were valued at $11.8 million using a Binomial/Monte Carlo valuation model. The decrease in the fair value of the warrant liabilities of $1.2 million for the year ended December 31, 2013 was charged to Other income, net in the Statements of Operations. | |||||||||||||
On December 31, 2012, the liability-classified warrants were valued at $13.0 million using a Binomial/Monte Carlo valuation model. The decrease in the fair value of the warrant liabilities of $6.1 million for the year ended December 31, 2012 was charged to Other income, net in the Statements of Operations. | |||||||||||||
On December 31, 2011, the liability-classified warrants were valued at $19.4 million using a Binomial/Monte Carlo valuation model. The decrease in the fair value of the warrant liabilities of $7.6 million for the year ended December 31, 2011 was charged to Other income, net in the Statements of Operations. Additionally, $0.3 million of the decrease resulted from the exercise of warrants. | |||||||||||||
The following pricing assumptions were used in the Binomial/Monte Carlo valuation model at December 31, 2013, 2012 and 2011: | |||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||
Risk-free interest rate | 0.13% | 0.25% | 0.05 - 0.35% | ||||||||||
Expected life in years | 0.94 | 1.94 | 0.42 - 2.92 | ||||||||||
Expected volatility | 80% | 70% | 64 - 80% | ||||||||||
Expected dividend yield | 0 | 0 | 0 | ||||||||||
Warrants accounted for as equity instruments include the following issuances: | |||||||||||||
During 2004, the Company issued warrants to purchase 62,621 shares of the Company’s common stock to Paramount as compensation for services rendered in connection with our entering into an option agreement with Southern Research Institute. In connection with the warrants issued, the Company recorded a charge of $251 thousand to general and administrative expense. The Company has estimated the fair value of such options using the Black-Scholes model, using an assumed risk-free rate of 3.93%, and expected life of 7 years, volatility of 134% and dividend yield of 0%. | |||||||||||||
In 2005, the Company issued performance warrants to purchase 50,000 shares of the Company’s common stock for services to be rendered to its investor relations consultant as compensation. In connection with the warrant issuance, 12,500 shares were exercisable immediately and the Company recorded a charge of $45 thousand to general and administrative expense in the year ended December 31, 2005. The Company has estimated the fair value of such options using the Black-Scholes model, using an assumed risk-free rate of 4.39%, an expected life of 5 years, volatility of 109%, and dividend yield of 0%. The remaining 37,500 warrants were cancelled in the year ended December 31, 2006 due to performance objectives not being obtained at the expiration of agreement. | |||||||||||||
In connection with the 2006 Offering completed on May 3, 2006, the Company issued warrants to purchase 2,397,392 shares of common stock to investors and 799,126 warrants to purchase common stock to the 2006 Placement Agents and their designees. The Company estimated the fair value of the warrants at $9.6 million and $3.5 million, respectively, using the Black-Scholes model, using an assumed risk-free rate of 5.01% and an expected life of 5 and 7 years, volatility of 100% and a dividend yield of 0%. | |||||||||||||
On February 23, 2007, as part of the 2007 Offering, the Company issued warrants to purchase 1,182,015 shares of common stock to investors and 177,302 warrants to purchase common stock to the placement agents in connection with the Company’s 2007 private placement, their designees and a previously-engaged financial consultant. The Company estimated the fair value of the warrants at $4.7 million and $709 thousand respectively, using the Black-Scholes model, using an assumed risk-free rate of 4.71% and an expected life of 5 years, volatility of 93% and a dividend yield of 0%. | |||||||||||||
In connection with its 2009 private placement, the Company issued warrants to purchase an aggregate of 2,910,954 shares of common stock (including 138,617 warrants issued to the placement agents) which were exercisable immediately. The warrants have an exercise price of $2.04 per share and have a 5 year term. The fair value of the warrants was estimated at $4,207 thousand using a Black-Scholes model with the following assumptions: expected volatility of 105%, risk free interest rate of 2.41%, expected life of 5 years and no dividends. The fair value of the warrants was recorded in the equity section of the balance sheet. In October 2009, 136,986 of these warrants were exercised. | |||||||||||||
During 2010, no new warrants were issued. However, 95,505 warrants were exercised for 39,225 shares of common stock. Of these warrants, 70,738 were equity-classified and 24,767 were liability-classified. Additionally, 12,500 equity-classified warrants expired without being exercised. | |||||||||||||
During 2011, no new warrants were issued. However, 2,516,968 warrants were exercised for 2,377,571 shares of common stock. Of these warrants, 2,351,417 were equity-classified and 165,551 were liability-classified. Additionally, 277,910 equity-classified warrants expired without being exercised. | |||||||||||||
During 2012, no new warrants were issued. However, 553,914 warrants were exercised for 259,660 shares of common stock. Of these warrants, 186,297 were equity-classified and 373,617 were liability-classified. Additionally, 1,359,317 equity-classified warrants and 579 liability-classified warrants expired without being exercised. | |||||||||||||
During 2013, no new warrants were issued. However 135,346 warrants were exercised for 112,808 shares of common stock. Of these warrants, all 135,346 were equity-classified; there were no liability-classified warrants exercised. Additionally, 706,708 equity-classified warrants expired without being exercised. All warrants will expire during the year ending December 31, 2014. | |||||||||||||
The following is a summary of warrants outstanding as of December 31, 2013. | |||||||||||||
Number of | Issued in Connection With | Exercise | Expiration Date | ||||||||||
Warrants | Price | ||||||||||||
2,264,393 | Investor warrants | $ | 2.04 | September 15, 2014 | |||||||||
40,298 | Placement warrants for services performed | 2.04 | 15-Sep-14 | ||||||||||
8,235,076 | Investor warrants | 4.02 | 9-Dec-14 | ||||||||||
10,539,767 | |||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Taxes | ' | ||||||||||||
10 | Income Taxes | ||||||||||||
There is no provision for income taxes because the Company has incurred operating losses since inception. The reported amount of income tax expense for the years differs from the amount that would result from applying domestic federal statutory tax rates to pretax losses primarily because of the changes in the valuation allowance. Significant components of the Company’s deferred tax assets at December 31, 2013 and 2012 are as follows: | |||||||||||||
December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Net operating loss carryforwards | $ | 66,209 | $ | 42,715 | |||||||||
Start-up and organizational costs | 41,529 | 44,262 | |||||||||||
Research and development credit carryforwards | 25,058 | 18,388 | |||||||||||
Stock compensation | 1,028 | 991 | |||||||||||
Capitalized acquisition costs | 12,323 | 13,270 | |||||||||||
Deferred revenue | 1,074 | 1,388 | |||||||||||
Depreciation | 129 | 331 | |||||||||||
Other | 1,254 | 998 | |||||||||||
148,604 | 122,343 | ||||||||||||
Less valuation allowance | (148,604 | ) | (122,343 | ) | |||||||||
Net deferred tax assets | $ | — | $ | — | |||||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. At December 31, 2013, the Company has aggregate net operating loss carryforwards for federal tax purposes of approximately $197.0 million available to offset future federal taxable income to the extent permitted under the Internal Revenue Code of 1986, as amended, or IRC, expiring in varying amounts through 2032. Additionally, the Company has approximately $25.0 million of research and development credits at December 31, 2013, expiring in varying amounts through 2032, which may be available to reduce future taxes. | |||||||||||||
Under the IRC Section 382, certain substantial changes in the Company’s ownership may limit the amount of net operating loss carryforwards that can be utilized in any one year to offset future taxable income. The net operating loss carryforwards for the year ended December 31, 2013 includes approximately $4.2 million resulting from excess tax deductions from stock options. Pursuant to ASC 740, the deferred tax asset relating to excess tax benefits generated from exercises of stock options was not recognized for financial statement purposes. | |||||||||||||
Section 382 of the IRC provides limits to which a corporation that has undergone a change in ownership (as defined) can utilize any net operating loss, or NOL, and general business tax credit carryforwards it may have. The Company commissioned an analysis to determine whether Section 382 could limit the use of its carryforwards in this manner. After completing the analysis, it was determined an ownership change had occurred in February 2007. As a result of this change, the Company’s NOL’s and general business tax credits from February 23, 2007 and prior would be completely limited under IRC Section 382. The deferred tax assets related to NOL’s and general business credits have been reduced by $11.2 million and $636 thousand, respectively, as a result of the change. The Company updated the IRC Section 382 analysis through December 31, 2013. It was determined a change of ownership occurred on February 28, 2011. The Company’s NOL’s were not further limited as a result of the change. | |||||||||||||
The Company has provided a valuation allowance for the full amount of these net deferred tax assets, since it is more likely than not that these future benefits will not be realized. However, these deferred tax assets may be available to offset future income tax liabilities and expenses. The valuation allowance increased by $26.3 million primarily due to net operating loss carryforwards, start-up and organizational costs, and the increase in research and development credits. | |||||||||||||
A reconciliation of income tax expense (benefit) at the statutory federal income tax rate and income taxes as reflected in the financial statements is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Federal income tax at statutory rates | 34 | % | 34 | % | 34 | % | |||||||
State income tax, net of federal tax benefit | 4 | % | 5 | % | 6 | % | |||||||
Research and development credits | 9 | % | 10 | % | 11 | % | |||||||
Stock compensation | -2 | % | -1 | % | -1 | % | |||||||
Uncertain tax position adjustment | 0 | % | 0 | % | 0 | % | |||||||
Change in warrant value | 1 | % | 2 | % | 4 | % | |||||||
Federal R&D tax grant | 0 | % | 0 | % | 0 | % | |||||||
Other | 0 | % | 0 | % | 0 | % | |||||||
Increase in valuation allowance | -46 | % | -49 | % | -54 | % | |||||||
Effective tax rate | 0 | % | 0 | % | 0 | % | |||||||
The Company adopted ASC740, “Accounting for Uncertain Tax Positions” on January 1, 2007. ASC740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with FASB Statement No. 109, “Accounting for Income Taxes.” ASC 740 prescribes a recognition threshold and measurement of a tax position taken or expected to be taken in a tax return. The Company did not establish any additional reserves for uncertain tax liabilities upon adoption of ASC 740. A summary of the company’s adjustments to its uncertain tax positions in the years ended December 31, 2013, 2012, and 2011 are as follows: | |||||||||||||
(in thousands) | |||||||||||||
Balance at December 31, 2010 | $ | 275 | |||||||||||
Increase/Decrease for tax positions related to the current year | — | ||||||||||||
Increase/Decrease for tax positions related to prior years | — | ||||||||||||
Decreases for settlements with applicable taxing authorities | — | ||||||||||||
Decreases for lapses of statute of limitations | — | ||||||||||||
Balance at December 31, 2011 | $ | 275 | |||||||||||
Increase/Decrease for tax positions related to the current year | — | ||||||||||||
Increase/Decrease for tax positions related to prior years | — | ||||||||||||
Decreases for settlements with applicable taxing authorities | — | ||||||||||||
Decreases for lapses of statute of limitations | — | ||||||||||||
Balance at December 31, 2012 | $ | 275 | |||||||||||
Increase/Decrease for tax positions related to the current year | — | ||||||||||||
Increase/Decrease for tax positions related to prior years | (37 | ) | |||||||||||
Decreases for settlements with applicable taxing authorities | — | ||||||||||||
Decreases for lapses of statute of limitations | — | ||||||||||||
Balance at December 31, 2013 | $ | 238 | |||||||||||
The Company has not recognized any interest and penalties in the statement of operations because of the Company’s net operating losses and tax credits that are available to be carried forward. When necessary, the Company will account for interest and penalties related to uncertain tax positions as part of its provision for federal and state income taxes. The Company does not expect the amounts of unrecognized benefits will change significantly within the next twelve months. | |||||||||||||
The Company is currently open to audit under the statute of limitations by the Internal Revenue Service and state jurisdictions for the years ended December 31, 1999 through 2013. |
Preferred_Stock_and_Stockholde
Preferred Stock and Stockholders' Equity | 12 Months Ended | ||
Dec. 31, 2013 | |||
Preferred Stock and Stockholders' Equity | ' | ||
11 | Preferred Stock and Stockholders’ Equity | ||
On April 26, 2006, the date of the Company’s annual stockholders meeting that year, the shareholders approved the adoption of an Amended and Restated Certificate of Incorporation pursuant to which the Company has 280,000,000 shares of authorized capital stock, of which 250,000,000 shares are designated as common stock (par value $.001 per share), and 30,000,000 shares are designated as preferred stock (par value $.001 per share), which the Company refers to as the Preferred Stock. | |||
Common Stock | |||
In September 2003, the Company issued 1,001,949 shares of common stock at $0.50 per share for gross proceeds of $500 thousand. | |||
In January 2004, the Company issued 9,017,538 shares of common stock at $0.50 per share for gross proceeds of $4.5 million. | |||
In February 2004, the Company amended its articles of incorporation to provide for the combination of the Company’s common stock, par value $0.001 per share on a 1-for-4 basis. | |||
On June 6, 2005, the Company completed the 2005 Offering (see Note 2 to the financial statements, Financings). As a result of the Merger, all shares of the Series A Preferred Stock were automatically converted into the number of shares of common stock that the holders of Series A Preferred Stock would have received if their shares of Series A Preferred Stock had been converted into common stock immediately prior to the Merger. | |||
On May 3, 2006, pursuant to subscription agreements between the Company and certain institutional and other accredited investors, the Company completed the sale of an aggregate of 7,991,256 shares of the Company’s common stock at a price of $4.63 per share in the 2006 Offering. The total gross proceeds resulting from the 2006 Offering was approximately $37 million, before deducting selling commissions and expenses. | |||
On February 23, 2007, pursuant to subscription agreements between the Company and certain institutional and other accredited investors, the Company completed the sale of an aggregate of 5,910,049 shares of the Company’s common stock at a price of $5.225 per share in a private placement. The total gross proceeds resulting from the 2007 Offering was approximately $30.9 million, before deducting selling commissions and expenses. | |||
On September 15, 2009, pursuant to subscription agreements between the Company and certain institutional and other accredited investors, the Company completed the sale of an aggregate of 2,772,337 shares of the Company’s common stock at a price of $1.825 per share in a private placement. The total gross proceeds resulting from the September 2009 Offering was approximately $5.1 million, before deducting selling commissions and expenses (see Note 2 to the financial statements, Financings). | |||
On December 9, 2009, pursuant to underwriting agreement between the Company and certain brokers, the Company completed the sale of an aggregate of 15,484,000 shares of the Company’s common stock at a price of $3.10 per share in a private placement. The total gross proceeds resulting from the 2009 public offering was approximately $48.0 million, before deducting selling commissions and expenses (see Note 2 to the financial statements, Financings). | |||
On June 2, 2010, pursuant to underwriting agreement between the Company and certain brokers, the Company completed the sale of an aggregate of 7,000,000 shares of the Company’s common stock at a price of $5.00 per share in a public offering. The total gross proceeds resulting from the 2010 public offering were approximately $35.0 million, before deducting selling commissions and expenses (see Note 2 to the financial statements, Financings). | |||
On January 6, 2011, and in conjunction with the Company’s execution and delivery of a Channel Agreement, the Company entered into a Stock Purchase Agreement and Registration Rights Agreement. On January 12, 2011, and pursuant to that Stock Purchase Agreement, the Company sold 2,426,235 shares of the Company’s common stock in a private placement for a total purchase price of $11.6 million, or $4.80 per share. The Company simultaneously issued an additional 3,636,926 shares of its common stock for a cash purchase price equal to the $0.001 par value of such shares, which price was deemed paid in partial consideration for the execution and delivery of the Channel Agreement (see Note 2, Financings). | |||
On February 3, 2011, pursuant to underwriting agreement between the Company and certain brokers, the Company completed the sale of an aggregate of 11,040,000 shares of the Company’s common stock at a price of $5.75 per share in a public offering. The total gross proceeds resulting from the 2011 public offering were approximately $63.5 million, before deducting selling commissions and expenses (see Note 2 to the financial statements, Financings). | |||
On January 20, 2012, pursuant to an underwriting agreement between the Company and J. P. Morgan Securities LLC, as representative of the several underwriters named therein, the Company completed the sale of an aggregate 10,114,401 shares of the Company’s common stock at a price of $5.20 per share in a public offering. The total gross proceeds resulting from the 2012 public offering were approximately $52.6 million, before deducting selling commissions and expenses (see Note 2 to the financial statements, Financings). | |||
On November 7, 2012, the Company issued 3,636,926 shares of our common stock, which we refer to as the Milestone Shares, to Intrexon under the terms of its Stock Purchase Agreement with Intrexon dated January 6, 2011. Under the terms of the Stock Purchase Agreement with Intrexon, the Company agreed to issue the Milestone Shares under certain conditions upon dosing of the first patient in a ZIOPHARM-conducted Phase 2 clinical trial in the Unites States, or similar study as the parties may agree in a country other than the United States, of a product candidate that is created, produced, developed or identified directly or indirectly by us during the term of the Channel Agreement and that, subject to certain exceptions, involves DNA administered to humans for expression of anti-cancer effectors for the purpose of treatment or prophylaxis of cancer. On October 24, 2012, the Company initiated dosing in a Phase 2 study of Ad-RTS-IL-12 + veledimex for unresectable Stage III or IV melanoma, triggering the issuance of the Milestone Shares. | |||
On October 29, 2013, pursuant to an underwriting agreement between the Company and J. P. Morgan Securities LLC, as representative of the several underwriters named therein, the Company completed the sale of an aggregate 16,445,000 shares of the Company’s common stock at a price of $3.50 per share in a public offering. The total gross proceeds resulting from this public offering were approximately $57.6 million, before deducting selling commissions and expenses (see Note 2 to the financial statements, Financings). | |||
As of December 31, 2013, the Company had 100,159,618 shares of common stock issued and outstanding and no shares of Preferred Stock issued and outstanding. | |||
Series A Preferred Stock | |||
All shares of Series A Preferred Stock have been converted into shares of common stock of the Company. | |||
Preferred Stock | |||
The Company’s Board of Directors are authorized to designate any series of Preferred Stock, to fix and determine the variations in relative rights, preferences, privileges and restrictions as between and among such series. |
Stock_Option_Plan
Stock Option Plan | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Stock Option Plan | ' | ||||||||||||||||
12 | Stock Option Plan | ||||||||||||||||
The Company adopted the 2003 Stock Option Plan, or the 2003 Plan, in 2003, under which the Company initially reserved for the issuance of 1,252,436 shares of its common stock. The 2003 Plan was approved by the Company’s stockholders on December 21, 2004. On June 23, 2010, June 4, 2009, April 25, 2007 and April 26, 2006, the dates of the Company’s annual stockholders meetings during such years, the Company’s stockholders approved amendments to the 2003 Plan increasing the total shares reserved by 3,000,000, 2,000,000, 2,000,000 and 750,000 shares, respectively, for a total of 9,002,436 shares. Upon approval of the 2012 Equity Incentive Plan, no additional stock awards may be granted under the 2003 Plan. | |||||||||||||||||
The Company adopted the 2012 Equity Incentive Plan, or the 2012 Plan, in May 2012, under which the Company initially reserved for the issuance of 4,000,000 shares of its common stock. The 2012 Plan was approved by the Company’s stockholders on June 20, 2012. | |||||||||||||||||
As of December 31, 2013, the Company had outstanding options issued to its employees to purchase up to 5,834,408 shares of the Company’s common stock, to its directors to purchase up to 912,645 shares of the Company’s common stock, as well as options to consultants in connection with services rendered to purchase up to 250 shares of the Company’s common stock. | |||||||||||||||||
Stock options to employees generally vest ratably over three years and have contractual terms of ten years. Stock options to directors generally vest ratably over two or three years and have contractual terms of ten years. Stock options are valued using the Black-Scholes option pricing model and compensation is recognized based on such fair value over the period of vesting on a straight-line basis. The Company has also reserved an aggregate of 45,823 additional shares for issuance under options granted outside of the 2003 Stock Option Plan. The options were granted to The University of Texas M. D. Anderson Cancer Center and DEKK-Tec, Inc. (see Note 8 to the financial statements, Commitments and Contingencies). During the year ended December 31, 2007, the Company recorded a $120 thousand stock compensation expense in connection with the Company achieving a predetermined development milestone, which triggered the vesting of 25,111 of the options granted outside of the 2003 Stock Option Plan. The 25,111 options were exercised on August 13, 2007. Proceeds from this exercise amounted to $50 thousand and the intrinsic value of these options amounted to $104 thousand. During 2010, the Company recorded an expense of $27 thousand when 6,904 DEKK-Tec stock options vested upon achieving Phase 3 milestones. | |||||||||||||||||
Proceeds from the 2013, 2012, and 2011 exercises amounted to $956 thousand, $30 thousand, and $980 thousand, respectively. The intrinsic value of these options amounted to $1.4 million, $11 thousand and $2.5 million for years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||
Transactions under the Plan for the years ending December 31, 2013, 2012, and 2011 were as follows: | |||||||||||||||||
(in thousands, except share and per share data) | Number of | Weighted- | Weighted- | Aggregate | |||||||||||||
Shares | Average Exercise | Average | Intrinsic Value | ||||||||||||||
Price | Contractual | ||||||||||||||||
Term (Years) | |||||||||||||||||
Outstanding, December 31, 2010 | 4,566,935 | $ | 2.82 | ||||||||||||||
Granted | 1,894,300 | 5.65 | |||||||||||||||
Exercised | (479,666 | ) | 2.04 | ||||||||||||||
Cancelled | (843,083 | ) | 5.01 | ||||||||||||||
Outstanding, December 31, 2011 | 5,138,486 | 4.08 | |||||||||||||||
Granted | 2,309,650 | 4.36 | |||||||||||||||
Exercised | (8,300 | ) | 3.61 | ||||||||||||||
Cancelled | (292,533 | ) | 5.7 | ||||||||||||||
Outstanding, December 31, 2012 | 7,147,303 | 4.11 | |||||||||||||||
Granted | 2,649,900 | 3.28 | |||||||||||||||
Exercised | (570,168 | ) | 1.68 | ||||||||||||||
Cancelled | (2,479,732 | ) | 4.58 | ||||||||||||||
Outstanding, December 31, 2013 | 6,747,303 | $ | 3.81 | 7.17 | $ | 5,339 | |||||||||||
Vested and unvested expected to vest at December 31, 2013 | 6,711,969 | $ | 4.01 | 5.03 | $ | 5,311 | |||||||||||
Options exercisable, December 31, 2013 | 3,471,935 | $ | 4.01 | 5.03 | $ | 2,654 | |||||||||||
Options exercisable, December 31, 2012 | 3,683,786 | $ | 3.56 | 5.28 | $ | 3,972 | |||||||||||
Options available for future grant | 416,964 | ||||||||||||||||
At December 31, 2013, total unrecognized compensation costs related to non-vested stock options outstanding amounted to $8.5 million. The cost is expected to be recognized over a weighted-average period of 1.84 years. | |||||||||||||||||
Restricted Stock | |||||||||||||||||
In December 2013, the Company issued 75,272 shares of restricted stock to its non-employee directors, which vested in their entirety on the one year anniversary of the grant date. In January, February and May 2012, the Company issued 101,500, 43,802 and 25,000 shares of restricted stock to employees, which vested ratably in annual installments over three years, respectively, commencing on the first anniversary of the grant date. In December 2012, the Company also issued 87,730 shares of restricted stock to its non-employee directors, which vested ratably in annual installments over three years, commencing on the first anniversary of the grant date. In July and December 2011, the Company issued 50,000 and 720,675 shares of restricted stock to employees, which vested ratably in annual installments over three years, respectively, commencing on the first anniversary of the grant date. In January and December 2011, the Company also issued 25,000 and 52,731 shares of restricted stock to its non-employee directors, which vested in their entirety on the one year anniversary of the grant date and ratably in annual installments over three years, respectively, commencing on the first anniversary of the grant date. In March and April 2010, the Company issued 90,000 and 25,000 shares of restricted stock to its non-employee directors, respectively, all of which vested in their entirety on the one year anniversary of the grant date. In December 2009, the Company issued 347,500 shares of restricted stock to employees and 45,000 shares of restricted stock to its non-employee directors, which vested ratably in annual installments over three and two years, respectively, commencing on the first anniversary of the grant date. In September 2009, the Company issued 828,000 shares of restricted stock to employees and 180,000 shares of restricted stock to its board of directors, all of which vested in their entireties on the one year anniversary of the grant date. In December 2008, the Company issued 396,500 shares of restricted stock to employees and 90,000 shares of restricted stock to its board of directors, all of which vested in December 2009. Also, in January 2008, the Company issued 100,000 shares of restricted stock to one employee which vested ratably over a three-year period. In 2007, the Company issued 70,000 shares of restricted stock to several employees which vested in December 2008. During the years ended December 31, 2013, 2012 and 2011, $1.2 million, $1.7 million, and $635 thousand of compensation expense was recognized, respectively. | |||||||||||||||||
In January, March, May and December 2013, the Company repurchased 52,018, 5,400, 2,623, and 56,683 shares at average prices of $4.28, $4.50, $1.65 and $4.37 per share, respectively, to cover payroll taxes. In July and December 2012, the Company repurchased 15,740 and 107,413 shares at $6.06 and $4.19 per share, respectively, to cover payroll taxes. In January and December 2011, the Company repurchased 15,190 shares and 44,369 shares at $5.14 and $4.41 per share, respectively, to cover payroll taxes. In January, September and December 2010, the Company repurchased 15,283 shares, 349,710 shares and 51,116 shares at $3.10, $3.95 and $4.66 per share, respectively, to cover payroll taxes. In December 2009, the Company repurchased 103,823 shares of vested restricted stock from employees at $3.66 per share to cover payroll taxes. A summary of the status of non-vested restricted stock as of December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||||
Number of Shares | Weighted-Average | ||||||||||||||||
Grant Date Fair Value | |||||||||||||||||
Non-vested, December 31, 2010 | 348,753 | $ | 2.3 | ||||||||||||||
Granted | 848,406 | 4.52 | |||||||||||||||
Vested | (229,586 | ) | 3.56 | ||||||||||||||
Cancelled | (16,667 | ) | 2.85 | ||||||||||||||
Non-vested, December 31, 2011 | 950,906 | 4.34 | |||||||||||||||
Granted | 258,032 | 4.39 | |||||||||||||||
Vested | (351,829 | ) | 4.32 | ||||||||||||||
Cancelled | (123,370 | ) | 4.34 | ||||||||||||||
Non-vested, December 31, 2012 | 733,739 | 4.37 | |||||||||||||||
Granted | 75,272 | 4.34 | |||||||||||||||
Vested | (292,399 | ) | 4.31 | ||||||||||||||
Cancelled | (163,747 | ) | 4.42 | ||||||||||||||
Non-vested, December 31, 2013 | 352,865 | $ | 4.38 | ||||||||||||||
As of December 31, 2013, there was $1.3 million of total unrecognized stock-based compensation expense related to non-vested restricted stock arrangements. The expense is expected to be recognized over a weighted-average period of 1.45 years. |
Employee_Benefit_Plan
Employee Benefit Plan | 12 Months Ended | ||
Dec. 31, 2013 | |||
Employee Benefit Plan | ' | ||
13 | Employee Benefit Plan | ||
The Company sponsors a qualified 401(k) Retirement Plan under which employees are allowed to contribute certain percentages of their pay, up to the maximum allowed under Section 401(k) of the IIRC. The Company may make contributions to this plan at its discretion. The Company contributed approximately $139 thousand, $266 thousand, and $38 thousand to this plan during the years ended December 31, 2013, 2012, and 2011, respectively. |
Selected_Quarterly_Information
Selected Quarterly Information (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Selected Quarterly Information (Unaudited) | ' | ||||||||||||||||
14 | Selected Quarterly Information (Unaudited) | ||||||||||||||||
(in thousands, except per share amount) | |||||||||||||||||
Year Ended December 31, 2013 | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Revenue | $ | 200 | $ | 200 | $ | 200 | $ | 200 | |||||||||
Total operating expenses | 23,783 | 18,496 | 9,315 | 6,919 | |||||||||||||
Loss from operations | (23,583 | ) | (18,296 | ) | (9,115 | ) | (6,719 | ) | |||||||||
Change in fair value of warrants | 10,788 | (403 | ) | (7,407 | ) | (1,793 | ) | ||||||||||
Net (loss) | (12,799 | ) | (18,692 | ) | (16,713 | ) | (8,903 | ) | |||||||||
Loss per share, basic and diluted | $ | (0.15 | ) | $ | (0.22 | ) | $ | (0.20 | ) | $ | (0.09 | ) | |||||
Year Ended December 31, 2012 | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Revenue | $ | 200 | $ | 200 | $ | 200 | $ | 200 | |||||||||
Total operating expenses | 18,833 | 23,166 | 21,927 | 39,043 | |||||||||||||
Loss from operations | (18,633 | ) | (22,966 | ) | (21,727 | ) | (38,843 | ) | |||||||||
Change in fair value of warrants | (5,811 | ) | (650 | ) | 3,945 | 8,566 | |||||||||||
Net (loss) | (24,470 | ) | (23,613 | ) | (17,824 | ) | (30,225 | ) | |||||||||
Loss per share, basic and diluted | $ | (0.32 | ) | $ | (0.30 | ) | $ | (0.23 | ) | $ | (0.37 | ) |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Basis of Presentation | ' | ||||||||||||||||
Basis of Presentation | |||||||||||||||||
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |||||||||||||||||
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 that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although the Company regularly assesses these estimates, actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known. | |||||||||||||||||
The Company’s most significant estimates and judgments used in the preparation of our financial statements are: | |||||||||||||||||
• | Clinical trial expenses; | ||||||||||||||||
• | Fair value measurements for stock based compensation and warrants; and | ||||||||||||||||
• | Income taxes. | ||||||||||||||||
Subsequent Events | ' | ||||||||||||||||
Subsequent Events | |||||||||||||||||
The Company evaluated all events and transactions that occurred after the balance sheet date through the date of this filing. During this period, the Company did not identify any material events that require accounting or disclosure in these financial statements. | |||||||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
Cash equivalents consist primarily of demand deposit accounts and deposits in short-term U.S. treasury money market mutual funds. Cash equivalents are stated at cost, which approximates fair market value. | |||||||||||||||||
Concentrations of Credit Risk | ' | ||||||||||||||||
Concentrations of Credit Risk | |||||||||||||||||
Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains cash accounts in commercial banks, which may, at times, exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. | |||||||||||||||||
Property and Equipment | ' | ||||||||||||||||
Property and Equipment | |||||||||||||||||
Property and equipment are recorded at cost. Expenditures for maintenance and repairs are charged to expense while the costs of significant improvements are capitalized. Depreciation is provided using the straight-line method over the following estimated useful lives of the related assets, which is between three and five years. Upon retirement or sale, the cost of the assets disposed of and the related accumulated depreciation are eliminated from the balance sheets and related gains or losses are reflected in the statements of operations. | |||||||||||||||||
Restricted Cash | ' | ||||||||||||||||
Restricted Cash | |||||||||||||||||
Current assets include $200 thousand that is restricted for the Company’s former line of credit. Other non-current assets include cash of $409 thousand that is restricted as collateral for the Company’s facility leases and subleases and $103 thousand that is restricted as collateral for a line of credit. | |||||||||||||||||
Long-Lived Assets | ' | ||||||||||||||||
Long-Lived Assets | |||||||||||||||||
The Company reviews the carrying values of its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be recoverable. Any long-lived assets held for disposal are reported at the lower of their carrying amounts or fair values less costs to sell. | |||||||||||||||||
Warrants | ' | ||||||||||||||||
Warrants | |||||||||||||||||
The Company applies the accounting standard which provides guidance in assessing whether an equity-based financial instrument is indexed to an entity’s own stock for purposes of determining whether a financial instrument should be treated as a derivative. In applying the methodology the Company concluded that certain warrants issued by the Company have terms that do not meet the criteria to be considered indexed to the Company’s own stock and therefore are classified as liabilities in the Company’s balance sheet. The liability classified warrants are subject to re-measurement at each balance sheet date and any change in fair value is recognized as a component of “Other income, net” in the accompanying Statement of Operations. Fair value is measured using the binomial valuation model. In December 2011, the Company switched from the Black-Scholes valuation model to the binomial valuation model as it provides a better evaluation of the fair market value of the Company’s liability-classified warrants. | |||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
Fair Value Measurements | |||||||||||||||||
We have certain financial assets and liabilities recorded at fair value which have been classified as Level 1, 2 or 3 within the fair value hierarchy as described in the accounting standards for fair value measurements. | |||||||||||||||||
• | Level 1—Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||
• | Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||||
• | Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||
($ in thousands) | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Description | Balance as of | Quoted Prices in | Significant Other | Significant | |||||||||||||
December 31, 2013 | Active Markets for | Observable | Unobservable Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets/Liabilities | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Cash equivalents | $ | 66,794 | $ | 66,794 | $ | — | $ | — | |||||||||
Warrant liability | $ | 11,776 | $ | — | $ | 11,776 | $ | — | |||||||||
($ in thousands) | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Description | Balance as of | Quoted Prices in | Significant Other | Significant | |||||||||||||
December 31, 2012 | Active Markets for | Observable | Unobservable Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets/Liabilities | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Cash equivalents | $ | 72,002 | $ | 72,002 | $ | — | $ | — | |||||||||
Warrant liability | $ | 12,962 | $ | — | $ | 12,962 | $ | — | |||||||||
The cash equivalents consist primarily of short term U.S. treasury money market mutual funds which are actively traded. The warrants were valued using a binomial valuation model. See Note 9 to the financial statements, Warrants, for additional disclosure on the valuation methodology and significant assumptions. | |||||||||||||||||
Revenue Recognition | ' | ||||||||||||||||
Revenue Recognition | |||||||||||||||||
The Company receives revenue from a collaboration agreement (see Note 8 to the financial statements, Commitments and Contingencies). Collaboration arrangements typically include payments for one or more of the following: non-refundable, upfront license fees, funding of research and development efforts, milestone payments if specified objectives are achieved and/or profit-sharing or royalties on product sales. Arrangements containing multiple elements are divided into separate units of accounting if certain criteria are met, including whether the delivered element has stand-alone value to the collaborative partner. The consideration received is then allocated among the separate units based on their respective fair values and the applicable revenue recognition criteria are applied to each of the separate units. | |||||||||||||||||
Revenue from non-refundable, upfront research and development fees is reported as research and development revenue and is recognized on a straight-line basis over the contracted or estimated period of performance, which is typically the development term. Research and development funding is earned over the period of effort. | |||||||||||||||||
Milestone payments are recognized as research and development revenue upon achievement of the milestone only if (1) the milestone payment is non-refundable, (2) substantive effort is involved in achieving the milestone and (3) the amount of the milestone is reasonable in relation to the effort expended or the risk associated with achievement of the milestone. If any of these conditions are not met, the milestone payment is deferred and recognized as revenue over the estimated remaining period of performance under the contract as the Company completes its performance obligations. | |||||||||||||||||
Research and Development Costs | ' | ||||||||||||||||
Research and Development Costs | |||||||||||||||||
Research and development expenditures are charged to the statement of operations as incurred. Such costs include proprietary research and development activities, purchased research and development, and expenses associated with research and development contracts, whether performed by the Company or contracted with independent third parties. | |||||||||||||||||
Income Taxes | ' | ||||||||||||||||
Income Taxes | |||||||||||||||||
Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences between the financial statement carrying amounts and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which the temporary differences are expected to be recovered or settled. The Company evaluates the realizability of our deferred tax assets and establishes a valuation allowance when it is more likely than not that all or a portion of deferred tax assets will not be realized. | |||||||||||||||||
The Company accounts for uncertain tax positions using a “more-likely-than-not” threshold for recognizing and resolving uncertain tax positions. The evaluation of uncertain tax positions is based on factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity and changes in facts or circumstances related to a tax position. The Company evaluates this tax position on an annual basis. The Company also accrues for potential interest and penalties, related to unrecognized tax benefits in income tax expense (see Note 10 to the financial statements, Income Taxes). | |||||||||||||||||
Accounting for Stock-Based Compensation | ' | ||||||||||||||||
Accounting for Stock-Based Compensation | |||||||||||||||||
Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the employee’s requisite service period. Stock-based compensation expense is based on the number of awards ultimately expected to vest and is therefore reduced for an estimate of the awards that are expected to be forfeited prior to vesting. Consistent with prior years, the Company uses the Black-Scholes option pricing model which requires estimates of the expected term option holders will retain their options before exercising them and the estimated volatility of the Company’s common stock price over the expected term. | |||||||||||||||||
The Company recognizes the full impact of its share-based employee payment plans in the statements of operations for each of the years ended December 31, 2013, 2012, and 2011 and did not capitalize any such costs on the balance sheets. The Company recognized $2.3 million, $3.1 million, and $2.1 million of compensation expense related to vesting of employee stock options during the years ended December 31, 2013, 2012, and 2011, respectively. In the years ended December 31, 2013, 2012, and 2011, the Company recognized $1.2 million, $1.7 million, and $635 thousand of compensation expense, respectively, related to vesting of restricted stock (see Note 12 to the financial statements, Stock Option Plan). In the years ended December 31, 2013, 2012, and 2011, the Company recognized $3.5 million, $4.9 million, and $2.8 million of compensation expense, respectively, related to vesting of all employee and director awards. The following table presents share-based compensation expense included in the Company’s Statements of Operations: | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||||||
Research and development | $ | 792 | $ | 1,917 | $ | 890 | |||||||||||
General and administrative | 2,715 | 2,963 | 1,869 | ||||||||||||||
Share based employee compensation expense before tax | 3,507 | 4,880 | 2,759 | ||||||||||||||
Income tax benefit | — | — | — | ||||||||||||||
Net share based employee compensation expense | $ | 3,507 | $ | 4,880 | $ | 2,759 | |||||||||||
Prior to the adoption of the current accounting standards in 2006, the Company previously accounted for stock-based awards to employees using the intrinsic value method and had elected the disclosure-only alternative. All stock-based awards to nonemployees were accounted for at their fair value. The Company had recorded the fair value of each stock option issued to non-employees as determined at the date of grant using the Black-Scholes option pricing model. | |||||||||||||||||
The following table illustrates the effect on net loss and earnings per share if the Company had applied the fair value recognition provisions of current accounting standards to stock-based awards from September 9, 2003 (date of inception) to December 31, 2005: | |||||||||||||||||
(in thousands, except per share data) | September 9, 2003 | ||||||||||||||||
(date of inception) to | |||||||||||||||||
December 31, 2005 | |||||||||||||||||
Net loss: | |||||||||||||||||
As reported | $ | (15,364 | ) | ||||||||||||||
Stock-based compensation expense included in reported net loss | 802 | ||||||||||||||||
Stock-based compensation expense under the fair-value based method | (1,756 | ) | |||||||||||||||
Pro forma net loss | $ | (16,318 | ) | ||||||||||||||
Basic and diluted net loss per share: | |||||||||||||||||
As reported | $ | (3.75 | ) | ||||||||||||||
Pro forma | $ | (3.98 | ) | ||||||||||||||
The fair value of each stock option is estimated at the date of grant using the Black-Scholes option pricing model. The estimated weighted-average fair value of stock options granted to employees in 2013, 2012, and 2011 was approximately $2.51, $3.06, and $4.04 per share, respectively. Assumptions regarding volatility, expected term, dividend yield and risk-free interest rate are required for the Black-Scholes model. The volatility assumption is based on the Company’s historical experience. The risk-free interest rate is based on a U.S. treasury note with a maturity similar to the option award’s expected life. The expected life represents the average period of time that options granted are expected to be outstanding. The Company calculated expected term using the simplified method described in SEC Staff Accounting Bulletin, or SAB, No. 107 and No. 110. The assumptions for volatility, expected life, dividend yield and risk-free interest rate are presented in the table below: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Weighted average risk-free interest rate | 1.00 - 2.10% | 0.79 - 1.13% | 1.09 - 2.69% | ||||||||||||||
Expected life in years | 6 | 6 | 6 | ||||||||||||||
Expected volatility | 83.40 - 95.96% | 83.36 - 83.53% | 83.26 - 87.29% | ||||||||||||||
Expected dividend yield | 0 | 0 | 0 | ||||||||||||||
Net Loss Per Share | ' | ||||||||||||||||
Net Loss Per Share | |||||||||||||||||
Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. The Company’s potential dilutive shares, which include outstanding common stock options, unvested restricted stock and warrants, have not been included in the computation of diluted net loss per share for any of the periods presented as the result would be antidilutive. Such potential common shares at December 31, 2013, 2012, and 2011 consist of the following: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Stock options | 6,747,303 | 7,147,303 | 5,138,486 | ||||||||||||||
Unvested restricted stock | 352,865 | 733,739 | 950,906 | ||||||||||||||
Warrants | 10,539,767 | 11,197,454 | 13,117,264 | ||||||||||||||
17,639,935 | 19,078,496 | 19,206,656 | |||||||||||||||
New Accounting Pronouncements | ' | ||||||||||||||||
New Accounting Pronouncements | |||||||||||||||||
In January 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update, or ASU, No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scoping of Disclosures about Offsetting Assets and Liabilities (ASU 2013-01) which clarifies the scope of ASU No. 2011-11 requiring an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. This ASU was effective for fiscal years beginning on or after January 1, 2013 and interim periods within those annual periods. The adoption of this standard did not have an impact on our financial position or results of operations. | |||||||||||||||||
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) which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. This ASU was effective for reporting periods beginning after December 15, 2012 and did not have an impact on our financial position or results of operations. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||
($ in thousands) | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Description | Balance as of | Quoted Prices in | Significant Other | Significant | |||||||||||||
December 31, 2013 | Active Markets for | Observable | Unobservable Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets/Liabilities | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Cash equivalents | $ | 66,794 | $ | 66,794 | $ | — | $ | — | |||||||||
Warrant liability | $ | 11,776 | $ | — | $ | 11,776 | $ | — | |||||||||
($ in thousands) | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Description | Balance as of | Quoted Prices in | Significant Other | Significant | |||||||||||||
December 31, 2012 | Active Markets for | Observable | Unobservable Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets/Liabilities | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Cash equivalents | $ | 72,002 | $ | 72,002 | $ | — | $ | — | |||||||||
Warrant liability | $ | 12,962 | $ | — | $ | 12,962 | $ | — | |||||||||
Share-Based Compensation Expense Included in Statements of Operations | ' | ||||||||||||||||
The following table presents share-based compensation expense included in the Company’s Statements of Operations: | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||||||
Research and development | $ | 792 | $ | 1,917 | $ | 890 | |||||||||||
General and administrative | 2,715 | 2,963 | 1,869 | ||||||||||||||
Share based employee compensation expense before tax | 3,507 | 4,880 | 2,759 | ||||||||||||||
Income tax benefit | — | — | — | ||||||||||||||
Net share based employee compensation expense | $ | 3,507 | $ | 4,880 | $ | 2,759 | |||||||||||
Effect on Net Loss and Earnings Per Share if Applied Fair Value Recognition Provisions to Stock-Based Awards | ' | ||||||||||||||||
The following table illustrates the effect on net loss and earnings per share if the Company had applied the fair value recognition provisions of current accounting standards to stock-based awards from September 9, 2003 (date of inception) to December 31, 2005: | |||||||||||||||||
(in thousands, except per share data) | September 9, 2003 | ||||||||||||||||
(date of inception) to | |||||||||||||||||
December 31, 2005 | |||||||||||||||||
Net loss: | |||||||||||||||||
As reported | $ | (15,364 | ) | ||||||||||||||
Stock-based compensation expense included in reported net loss | 802 | ||||||||||||||||
Stock-based compensation expense under the fair-value based method | (1,756 | ) | |||||||||||||||
Pro forma net loss | $ | (16,318 | ) | ||||||||||||||
Basic and diluted net loss per share: | |||||||||||||||||
As reported | $ | (3.75 | ) | ||||||||||||||
Pro forma | $ | (3.98 | ) | ||||||||||||||
Assumptions for Volatility, Expected life, Dividend Yield and Risk-free Interest Rate | ' | ||||||||||||||||
and No. 110. The assumptions for volatility, expected life, dividend yield and risk-free interest rate are presented in the table below: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Weighted average risk-free interest rate | 1.00 - 2.10% | 0.79 - 1.13% | 1.09 - 2.69% | ||||||||||||||
Expected life in years | 6 | 6 | 6 | ||||||||||||||
Expected volatility | 83.40 - 95.96% | 83.36 - 83.53% | 83.26 - 87.29% | ||||||||||||||
Expected dividend yield | 0 | 0 | 0 | ||||||||||||||
Potential Dilutive Shares Excluded from Computation of Diluted Net Loss Per Share | ' | ||||||||||||||||
The Company’s potential dilutive shares, which include outstanding common stock options, unvested restricted stock and warrants, have not been included in the computation of diluted net loss per share for any of the periods presented as the result would be antidilutive. Such potential common shares at December 31, 2013, 2012, and 2011 consist of the following: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Stock options | 6,747,303 | 7,147,303 | 5,138,486 | ||||||||||||||
Unvested restricted stock | 352,865 | 733,739 | 950,906 | ||||||||||||||
Warrants | 10,539,767 | 11,197,454 | 13,117,264 | ||||||||||||||
17,639,935 | 19,078,496 | 19,206,656 | |||||||||||||||
Property_and_Equipment_net_Tab
Property and Equipment, net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Component of Property and Equipment, Net | ' | ||||||||
Property and equipment, net consist of the following: | |||||||||
December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Office and computer equipment | $ | 1,076 | $ | 1,552 | |||||
Software | 884 | 856 | |||||||
Leasehold improvements | 841 | 1,357 | |||||||
Manufacturing equipment | 153 | 153 | |||||||
2,954 | 3,918 | ||||||||
Less: accumulated depreciation | (2,153 | ) | (1,924 | ) | |||||
Property and equipment, net | $ | 801 | $ | 1,994 | |||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Component of Accrued Expenses | ' | ||||||||
Accrued expenses consist of the following: | |||||||||
December 31, | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Professional services | $ | 582 | $ | 835 | |||||
Clinical consulting services | 3,751 | 9,628 | |||||||
Preclinical services | 513 | 411 | |||||||
Manufacturing services | 547 | 3,217 | |||||||
Accrued vacation | 227 | 452 | |||||||
Other consulting services | 230 | 903 | |||||||
Payroll taxes and benefits | 255 | 585 | |||||||
Severance | — | 474 | |||||||
Employee compensation | 252 | 11 | |||||||
Accrued expenses | $ | 6,357 | $ | 16,516 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Future Net Minimum Lease Payments under Operating Leases | ' | ||||
Future net minimum lease payments under operating leases as of December 31, 2013 are as follows (in thousands): | |||||
2014 | $ | 1,196 | |||
2015 | 1,236 | ||||
2016 | 997 | ||||
2017 | 501 | ||||
2018 | 424 | ||||
4,354 | |||||
Less: contractual sublease income | (1,883 | ) | |||
Future minimum lease payments, net | $ | 2,471 | |||
Warrants_Tables
Warrants (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Cumulative Effect on Balance Sheets of Reclassification Attributed to Adoption of Standard | ' | ||||||||||||
The reclassification attributed to adoption of the standard had the following cumulative effect on the Balance Sheets: | |||||||||||||
(in thousands) | Liabilities | Stockholders’ Equity | |||||||||||
Warrants | Warrants | Deficit Accumulated | |||||||||||
During the Development | |||||||||||||
Stage | |||||||||||||
As reported on December 31, 2008 | $ | — | $ | 20,504 | $ | (85,061 | ) | ||||||
Re-classification | 72 | (1,638 | ) | 1,566 | |||||||||
Balance on January 1, 2009 | $ | 72 | $ | 18,866 | $ | (83,495 | ) | ||||||
Assumptions Used In Binomial Valuation Model and Black-Scholes Valuation Model | ' | ||||||||||||
The following Black-Scholes pricing assumptions were used at January 1, 2009: | |||||||||||||
January 1, 2009 | |||||||||||||
Risk-free interest rate | 1.55 | % | |||||||||||
Expected life in years | 3.42 | ||||||||||||
Expected volatility | 102 | % | |||||||||||
Expected dividend yield | 0 | ||||||||||||
The following pricing assumptions were used in the Binomial/Monte Carlo valuation model at December 31, 2013, 2012 and 2011: | |||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||
Risk-free interest rate | 0.13% | 0.25% | 0.05 - 0.35% | ||||||||||
Expected life in years | 0.94 | 1.94 | 0.42 - 2.92 | ||||||||||
Expected volatility | 80% | 70% | 64 - 80% | ||||||||||
Expected dividend yield | 0 | 0 | 0 | ||||||||||
Summary of Warrants Outstanding | ' | ||||||||||||
The following is a summary of warrants outstanding as of December 31, 2013. | |||||||||||||
Number of | Issued in Connection With | Exercise | Expiration Date | ||||||||||
Warrants | Price | ||||||||||||
2,264,393 | Investor warrants | $ | 2.04 | September 15, 2014 | |||||||||
40,298 | Placement warrants for services performed | 2.04 | 15-Sep-14 | ||||||||||
8,235,076 | Investor warrants | 4.02 | 9-Dec-14 | ||||||||||
10,539,767 | |||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Significant Component of Deferred Tax Assets | ' | ||||||||||||
Significant components of the Company’s deferred tax assets at December 31, 2013 and 2012 are as follows: | |||||||||||||
December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Net operating loss carryforwards | $ | 66,209 | $ | 42,715 | |||||||||
Start-up and organizational costs | 41,529 | 44,262 | |||||||||||
Research and development credit carryforwards | 25,058 | 18,388 | |||||||||||
Stock compensation | 1,028 | 991 | |||||||||||
Capitalized acquisition costs | 12,323 | 13,270 | |||||||||||
Deferred revenue | 1,074 | 1,388 | |||||||||||
Depreciation | 129 | 331 | |||||||||||
Other | 1,254 | 998 | |||||||||||
148,604 | 122,343 | ||||||||||||
Less valuation allowance | (148,604 | ) | (122,343 | ) | |||||||||
Net deferred tax assets | $ | — | $ | — | |||||||||
Reconciliation of Income Tax Expense (Benefit) | ' | ||||||||||||
A reconciliation of income tax expense (benefit) at the statutory federal income tax rate and income taxes as reflected in the financial statements is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Federal income tax at statutory rates | 34 | % | 34 | % | 34 | % | |||||||
State income tax, net of federal tax benefit | 4 | % | 5 | % | 6 | % | |||||||
Research and development credits | 9 | % | 10 | % | 11 | % | |||||||
Stock compensation | -2 | % | -1 | % | -1 | % | |||||||
Uncertain tax position adjustment | 0 | % | 0 | % | 0 | % | |||||||
Change in warrant value | 1 | % | 2 | % | 4 | % | |||||||
Federal R&D tax grant | 0 | % | 0 | % | 0 | % | |||||||
Other | 0 | % | 0 | % | 0 | % | |||||||
Increase in valuation allowance | -46 | % | -49 | % | -54 | % | |||||||
Effective tax rate | 0 | % | 0 | % | 0 | % | |||||||
Summary of Adjustments to Uncertain Tax Position | ' | ||||||||||||
A summary of the company’s adjustments to its uncertain tax positions in the years ended December 31, 2013, 2012, and 2011 are as follows: | |||||||||||||
(in thousands) | |||||||||||||
Balance at December 31, 2010 | $ | 275 | |||||||||||
Increase/Decrease for tax positions related to the current year | — | ||||||||||||
Increase/Decrease for tax positions related to prior years | — | ||||||||||||
Decreases for settlements with applicable taxing authorities | — | ||||||||||||
Decreases for lapses of statute of limitations | — | ||||||||||||
Balance at December 31, 2011 | $ | 275 | |||||||||||
Increase/Decrease for tax positions related to the current year | — | ||||||||||||
Increase/Decrease for tax positions related to prior years | — | ||||||||||||
Decreases for settlements with applicable taxing authorities | — | ||||||||||||
Decreases for lapses of statute of limitations | — | ||||||||||||
Balance at December 31, 2012 | $ | 275 | |||||||||||
Increase/Decrease for tax positions related to the current year | — | ||||||||||||
Increase/Decrease for tax positions related to prior years | (37 | ) | |||||||||||
Decreases for settlements with applicable taxing authorities | — | ||||||||||||
Decreases for lapses of statute of limitations | — | ||||||||||||
Balance at December 31, 2013 | $ | 238 | |||||||||||
Stock_Option_Plan_Tables
Stock Option Plan (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Transaction under Stock Option Plan | ' | ||||||||||||||||
Transactions under the Plan for the years ending December 31, 2013, 2012, and 2011 were as follows: | |||||||||||||||||
(in thousands, except share and per share data) | Number of | Weighted- | Weighted- | Aggregate | |||||||||||||
Shares | Average Exercise | Average | Intrinsic Value | ||||||||||||||
Price | Contractual | ||||||||||||||||
Term (Years) | |||||||||||||||||
Outstanding, December 31, 2010 | 4,566,935 | $ | 2.82 | ||||||||||||||
Granted | 1,894,300 | 5.65 | |||||||||||||||
Exercised | (479,666 | ) | 2.04 | ||||||||||||||
Cancelled | (843,083 | ) | 5.01 | ||||||||||||||
Outstanding, December 31, 2011 | 5,138,486 | 4.08 | |||||||||||||||
Granted | 2,309,650 | 4.36 | |||||||||||||||
Exercised | (8,300 | ) | 3.61 | ||||||||||||||
Cancelled | (292,533 | ) | 5.7 | ||||||||||||||
Outstanding, December 31, 2012 | 7,147,303 | 4.11 | |||||||||||||||
Granted | 2,649,900 | 3.28 | |||||||||||||||
Exercised | (570,168 | ) | 1.68 | ||||||||||||||
Cancelled | (2,479,732 | ) | 4.58 | ||||||||||||||
Outstanding, December 31, 2013 | 6,747,303 | $ | 3.81 | 7.17 | $ | 5,339 | |||||||||||
Vested and unvested expected to vest at December 31, 2013 | 6,711,969 | $ | 4.01 | 5.03 | $ | 5,311 | |||||||||||
Options exercisable, December 31, 2013 | 3,471,935 | $ | 4.01 | 5.03 | $ | 2,654 | |||||||||||
Options exercisable, December 31, 2012 | 3,683,786 | $ | 3.56 | 5.28 | $ | 3,972 | |||||||||||
Options available for future grant | 416,964 | ||||||||||||||||
Summary of Nonvested Restricted Stock | ' | ||||||||||||||||
A summary of the status of non-vested restricted stock as of December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||||
Number of Shares | Weighted-Average | ||||||||||||||||
Grant Date Fair Value | |||||||||||||||||
Non-vested, December 31, 2010 | 348,753 | $ | 2.3 | ||||||||||||||
Granted | 848,406 | 4.52 | |||||||||||||||
Vested | (229,586 | ) | 3.56 | ||||||||||||||
Cancelled | (16,667 | ) | 2.85 | ||||||||||||||
Non-vested, December 31, 2011 | 950,906 | 4.34 | |||||||||||||||
Granted | 258,032 | 4.39 | |||||||||||||||
Vested | (351,829 | ) | 4.32 | ||||||||||||||
Cancelled | (123,370 | ) | 4.34 | ||||||||||||||
Non-vested, December 31, 2012 | 733,739 | 4.37 | |||||||||||||||
Granted | 75,272 | 4.34 | |||||||||||||||
Vested | (292,399 | ) | 4.31 | ||||||||||||||
Cancelled | (163,747 | ) | 4.42 | ||||||||||||||
Non-vested, December 31, 2013 | 352,865 | $ | 4.38 | ||||||||||||||
Selected_Quarterly_Information1
Selected Quarterly Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Selected Quarterly Information | ' | ||||||||||||||||
(in thousands, except per share amount) | |||||||||||||||||
Year Ended December 31, 2013 | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Revenue | $ | 200 | $ | 200 | $ | 200 | $ | 200 | |||||||||
Total operating expenses | 23,783 | 18,496 | 9,315 | 6,919 | |||||||||||||
Loss from operations | (23,583 | ) | (18,296 | ) | (9,115 | ) | (6,719 | ) | |||||||||
Change in fair value of warrants | 10,788 | (403 | ) | (7,407 | ) | (1,793 | ) | ||||||||||
Net (loss) | (12,799 | ) | (18,692 | ) | (16,713 | ) | (8,903 | ) | |||||||||
Loss per share, basic and diluted | $ | (0.15 | ) | $ | (0.22 | ) | $ | (0.20 | ) | $ | (0.09 | ) | |||||
Year Ended December 31, 2012 | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Revenue | $ | 200 | $ | 200 | $ | 200 | $ | 200 | |||||||||
Total operating expenses | 18,833 | 23,166 | 21,927 | 39,043 | |||||||||||||
Loss from operations | (18,633 | ) | (22,966 | ) | (21,727 | ) | (38,843 | ) | |||||||||
Change in fair value of warrants | (5,811 | ) | (650 | ) | 3,945 | 8,566 | |||||||||||
Net (loss) | (24,470 | ) | (23,613 | ) | (17,824 | ) | (30,225 | ) | |||||||||
Loss per share, basic and diluted | $ | (0.32 | ) | $ | (0.30 | ) | $ | (0.23 | ) | $ | (0.37 | ) |
Organization_Additional_Inform
Organization - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2008 |
In Thousands, unless otherwise specified | |||
Nature Of Operations [Line Items] | ' | ' | ' |
Accumulated deficit | $340,831 | $283,724 | ($83,495) |
Financings_Additional_Informat
Financings - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 124 Months Ended | 12 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 | |||||||||||||||||||||||||||||||||||||||||||||||
Oct. 29, 2013 | Jan. 20, 2012 | Feb. 03, 2011 | Jan. 12, 2011 | 27-May-10 | Jun. 02, 2010 | Dec. 04, 2009 | Dec. 09, 2009 | Sep. 15, 2009 | Feb. 23, 2007 | 3-May-06 | Sep. 13, 2005 | Jun. 06, 2005 | Dec. 22, 2004 | Jan. 31, 2004 | Sep. 30, 2003 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2013 | Apr. 26, 2006 | Feb. 29, 2004 | Dec. 31, 2009 | Feb. 23, 2007 | Feb. 23, 2007 | 3-May-06 | Jan. 31, 2005 | Jun. 06, 2005 | Dec. 31, 2005 | 27-May-10 | Feb. 23, 2007 | 3-May-06 | Dec. 31, 2013 | Dec. 31, 2009 | Dec. 31, 2006 | Jun. 06, 2005 | 31-May-05 | Sep. 15, 2009 | Dec. 31, 2009 | Feb. 23, 2007 | 3-May-06 | Feb. 23, 2007 | Sep. 13, 2005 | Jun. 06, 2005 | 27-May-10 | Sep. 09, 2009 | Sep. 09, 2009 | Oct. 23, 2013 | Oct. 29, 2013 | Jan. 25, 2012 | Jan. 31, 2012 | Jan. 20, 2012 | Jan. 31, 2012 | Feb. 03, 2011 | Feb. 08, 2011 | Feb. 08, 2011 | |
Y | Y | Y | Y | Y | Y | Y | J. P. Morgan Securities LLC | Placement Agents | Paramount | Paramount | Paramount | Series A Preferred Stock | Series A Preferred Stock | Underwritten Public Offering | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Investor | Investor | Securities Offering | Convertible Preferred Stock | Convertible Preferred Stock | Maximum | Maximum | Minimum | J.P. Morgan Securities Inc. | J.P. Morgan Securities Inc. | J.P. Morgan Securities Inc. | J.P. Morgan Securities Inc. | J.P. Morgan Securities Inc. | J.P. Morgan Securities Inc. | Barclays Capital Inc. | Barclays Capital Inc. | Barclays Capital Inc. | |||||||||||||||||||
Y | Y | Y | Placement Agents | Placement Agents | Y | Underwritten Public Offering | Private Placement | Private Placement | Total | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Long Term Debt And Equity Financings [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock issued during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,300,000 | 2,145,000 | 9,650,000 | 464,401 | ' | 10,114,401 | ' | ' | 11,040,000 |
Issuance & sale of common stock in public offering price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.50 | ' | ' | ' | $5.20 | ' | $5.75 | ' | ' |
Common stock, shares issued | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | '30 days | ' | '30 days | ' | ' |
Option to purchase common stock | ' | ' | ' | ' | 1,050,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,145,000 | ' | ' | ' | 1,447,500 | ' | 1,440,000 | ' | ' |
Common stock price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.83 | $4.63 | $4.31 | $4.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.29 | ' | ' | ' | $4.89 | ' | $5.42 | ' | ' |
Net proceeds from issuance of common stock | ' | ' | ' | ' | $32,800,000 | ' | $45,200,000 | ' | $4,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $53,900,000 | ' | $49,200,000 | ' | ' | ' | $59,800,000 | ' |
Issuance & sale of common stock in public offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,650,000 | ' | 9,600,000 | ' | ' |
Common Stock Shares Sold | 16,445,000 | 10,114,401 | 11,040,000 | 2,426,235 | 7,000,000 | 7,000,000 | 15,484,000 | 15,484,000 | 2,772,337 | 5,910,049 | 7,991,256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,991,256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common stock | 57,600,000 | 52,600,000 | 63,500,000 | 11,600,000 | ' | 35,000,000 | ' | 48,000,000 | 5,100,000 | 30,900,000 | 37,000,000 | ' | 18,100,000 | ' | 4,500,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock price per share | $3.50 | $5.20 | $5.75 | $4.80 | ' | $5 | $3.10 | $3.10 | $1.83 | $5.22 | $4.63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5 | ' | $4.63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock sdditional shares issued | ' | ' | ' | 3,636,926 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,017,538 | 1,001,949 | 100,159,618 | 83,236,840 | ' | ' | ' | ' | 100,159,618 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock par value per share | ' | ' | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | $0.00 | ' | ' | $0.00 | ' | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development expense | ' | ' | ' | 17,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,852,000 | 83,446,000 | 57,083,000 | ' | ' | ' | 255,197,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of purchase commitment of securities offered | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net proceed offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate purchase commitment amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining maximum purchase commitment amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,000,000 | ' | ' | ' | ' | ' | 19,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance and sale of our common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial public offering price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Underwriting discounts, commissions and other offering expenses | ' | ' | ' | ' | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross proceeds from the offering | ' | ' | ' | ' | ' | ' | 48,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of commissions and offering expenses | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase shares | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase an aggregate of shares of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 799,126 | ' | ' | 62,621 | ' | ' | 799,126 | ' | ' | 8,206,520 | 50,000 | 62,621 | ' | ' | ' | ' | ' | ' | 532,750 | ' | ' | ' | ' | 177,302 | 799,126 | ' | 2,910,954 | ' | ' | ' | 138,617 | 138,617 | 1,182,015 | 2,397,392 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 464,520 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.75 | ' | ' | ' | $4.75 | ' | ' | $5.09 | ' | ' | ' | ' | ' | ' | ' | ' | $4.02 | ' | ' | $5.09 | ' | ' | ' | ' | $5.75 | ' | ' | $2.04 | ' | ' | ' | $2.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable period of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,500,000 | ' | ' | 22,900,000 | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 709,000 | 3,500,000 | ' | 4,207,000 | ' | ' | ' | ' | ' | 4,700,000 | 9,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | 93.00% | 100.00% | ' | ' | 134.00% | ' | ' | 134.00% | ' | ' | 105.00% | 109.00% | 134.00% | 134.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 105.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk free interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.71% | 5.01% | ' | ' | 3.93% | ' | ' | 3.93% | ' | ' | 2.14% | 4.39% | 3.93% | 3.93% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.41% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | 7 | ' | ' | 7 | ' | ' | 5 | 5 | 7 | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 7 | 5 | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected dividend yield | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | 0.00% | ' | ' | 0.00% | ' | ' | 0.00% | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of placement agent fees | ' | ' | ' | ' | ' | ' | ' | ' | 455,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash penalty | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 506,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of additional shares issued by company | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash commission paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,700,000 | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | 222,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,244 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 156,058 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.56 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issuable as a percentage of shares | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk free interest rate of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.01% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursements made by company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of common stock outstanding on fully diluted basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment made to affiliate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 425,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of series A convertible preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,077,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,197,946 | 15,077,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash commission paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant to purchase additional shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 419,794 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant exercise price as percent of market value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses to reimburse | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Right of first refusal to act as the placement agent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series A preferred stock was converted to common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,197,946 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional paid-in capital recorded using Black- Scholes model | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet1
Summary Of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 124 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Stock based compensation expenses | $3,507 | $4,880 | $2,759 | $23,688 |
Weighted average fair value of stock option granted | $2.51 | $3.06 | $4.04 | ' |
Current Asset | Line of Credit | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Restricted cash | 200 | ' | ' | 200 |
Other Noncurrent Assets | Lease Obligations | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Restricted cash | 409 | ' | ' | 409 |
Other Noncurrent Assets | Line of Credit | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Restricted cash | 103 | ' | ' | 103 |
Minimum | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Property and equipment useful life | '3 years | ' | ' | ' |
Maximum | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Property and equipment useful life | '5 years | ' | ' | ' |
Employee Stock Option | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Stock based compensation expenses | 2,300 | 3,100 | 2,100 | ' |
Restricted Stock | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Stock based compensation expenses | 1,200 | 1,700 | 635 | ' |
Employee and Director Awards | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Stock based compensation expenses | $3,500 | $4,900 | $2,800 | ' |
Assets_and_Liabilities_Measure
Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | $66,794 | $72,002 |
Warrant liability | 11,776 | 12,962 |
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | 66,794 | 72,002 |
Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Warrant liability | $11,776 | $12,962 |
StockBased_Compensation_Expens
Stock-Based Compensation Expense Included in Statements of Operations (Detail) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2007 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Stock-based compensation | $3,507 | $4,880 | $2,759 | $27 | $120 |
Income tax benefit | ' | ' | ' | ' | ' |
Net share based employee compensation expense | 3,507 | 4,880 | 2,759 | ' | ' |
Research and Development Expense | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Stock-based compensation | 792 | 1,917 | 890 | ' | ' |
General and Administrative Expense | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Stock-based compensation | $2,715 | $2,963 | $1,869 | ' | ' |
Effect_on_Net_Loss_and_Earning
Effect on Net Loss and Earnings per Share if Applied Fair Value Recognition Provisions to Stock-Based Awards (Detail) (USD $) | 3 Months Ended | 4 Months Ended | 12 Months Ended | 28 Months Ended | 124 Months Ended | ||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2003 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2005 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Loss | ($8,903) | ($16,713) | ($18,692) | ($12,799) | ($30,225) | ($17,824) | ($23,613) | ($24,470) | ($160) | ($57,107) | ($96,132) | ($63,778) | ($32,670) | ($7,649) | ($25,231) | ($26,608) | ($17,857) | ($9,517) | ($5,687) | ($15,364) | ($340,831) |
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,507 | -4,880 | -2,759 | ' | ' | ' | ' | ' | ' | ' | ' | -23,688 |
Basic and diluted net loss per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic and diluted net loss per share | ($0.09) | ($0.20) | ($0.22) | ($0.15) | ($0.37) | ($0.23) | ($0.30) | ($0.32) | ' | ($0.66) | ($1.22) | ($0.97) | ' | ' | ' | ' | ' | ' | ' | ($3.75) | ' |
Included in reported net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 802 | ' |
Under the fair-value based method | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,756 | ' |
Pro Forma | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($16,318) | ' |
Basic and diluted net loss per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic and diluted net loss per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($3.98) | ' |
Fair_Value_of_Stock_Options_As
Fair Value of Stock Options Assumptions Using Black-Scholes Option Valuation Model (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items] | ' | ' | ' |
Risk-free interest rate, Minimum | 1.00% | 0.79% | 1.09% |
Risk-free interest rate, Maximum | 2.10% | 1.13% | 2.69% |
Expected life in years | '6 years | '6 years | '6 years |
Expected volatility, Minimum | 83.40% | 83.36% | 83.26% |
Expected volatility, Maximum | 95.96% | 83.53% | 87.29% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Potential_Dilutive_Shares_Excl
Potential Dilutive Shares Excluded from Computation of Diluted Net Loss Per Share (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 17,639,935 | 19,078,496 | 19,206,656 |
Stock Option | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 6,747,303 | 7,147,303 | 5,138,486 |
Unvested Restricted Common Stock | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 352,865 | 733,739 | 950,906 |
Warrants | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 10,539,767 | 11,197,454 | 13,117,264 |
Restructuring_Additional_Infor
Restructuring - Additional Information (Detail) (USD $) | 12 Months Ended | 124 Months Ended | 12 Months Ended | 124 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Oct. 17, 2013 | Dec. 31, 2013 | Aug. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Severance and Health Benefit Continuation Costs | Severance and Health Benefit Continuation Costs | NEW YORK | NEW YORK | Boston MA Office | Boston MA Office | General and Administrative Expense | Research and Development Expense | |||||
sqft | sqft | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | $1,700,000 | ' | ' | ' | $1,300,000 | $1,300,000 | ' | ' | ' | ' | $600,000 | $1,100,000 |
Loss on disposition of business | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on disposal of fixed assets | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Area given for sublease | ' | ' | ' | ' | ' | ' | 7,259 | ' | 5,249 | ' | ' | ' |
Loss on sublease | ' | ' | ' | ' | ' | ' | ' | 729,000 | ' | 42,000 | ' | ' |
Remaining contractual obligation | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | 367,000 | ' | ' |
Expected sublease revenue from subtenant | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | 325,000 | ' | ' |
Loss on disposal of fixed assets | -585,000 | -48,000 | 0 | -641,000 | ' | ' | ' | -392,000 | ' | -194,000 | ' | ' |
Security deposit | ' | ' | ' | ' | ' | ' | ' | ' | $20,000 | $127,000 | ' | ' |
Component_of_Property_and_Equi
Component of Property and Equipment, Net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Office and computer equipment | $1,076 | $1,552 |
Software | 884 | 856 |
Leasehold improvements | 841 | 1,357 |
Manufacturing equipment | 153 | 153 |
Property and equipment, Gross | 2,954 | 3,918 |
Less: accumulated depreciation | -2,153 | -1,924 |
Property and equipment, net | $801 | $1,994 |
Property_and_Equipment_net_Add
Property and Equipment, net - Additional Information (Detail) (USD $) | 12 Months Ended | 124 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | $738 | $658 | $268 | $3,313 |
Component_of_Accrued_Expenses_
Component of Accrued Expenses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities [Line Items] | ' | ' |
Professional services | $582 | $835 |
Clinical consulting services | 3,751 | 9,628 |
Preclinical services | 513 | 411 |
Manufacturing services | 547 | 3,217 |
Accrued vacation | 227 | 452 |
Other consulting services | 230 | 903 |
Payroll taxes and benefits | 255 | 585 |
Severance | ' | 474 |
Employee compensation | 252 | 11 |
Accrued expenses | $6,357 | $16,516 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 124 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 15, 2009 | Feb. 23, 2007 | Dec. 18, 2006 | 3-May-06 | Dec. 22, 2004 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2013 | Apr. 26, 2006 | Feb. 23, 2007 | Feb. 23, 2007 | 3-May-06 | Dec. 31, 2013 | Dec. 31, 2009 | Sep. 15, 2009 | Dec. 31, 2009 | Dec. 22, 2004 | Feb. 23, 2007 | 3-May-06 | Jan. 31, 2005 | Dec. 30, 2004 | Dec. 30, 2004 | Dec. 30, 2004 | Dec. 30, 2004 | Dec. 30, 2004 | Dec. 30, 2004 | Sep. 15, 2009 | Feb. 23, 2007 | Sep. 15, 2009 | Oct. 29, 2013 | Nov. 07, 2012 | Jan. 25, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Y | Y | Y | Y | Y | Y | Y | Placement Agents | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Pre-Merger | Paramount | Paramount | Paramount | Paramount | Paramount | Paramount | Paramount | Paramount | Paramount | Related Parties | Related Parties | Related Parties | Intrexon Corporation | Intrexon Corporation | Intrexon Corporation | Intrexon Corporation | Intrexon Corporation | |||||||
Y | Y | Y | Placement Agents | Placement Agents | Installment One | Installment Two | Pre-Merger | Pre-Merger | Pre-Merger | Private Placement | ||||||||||||||||||||||||||||
Installment One | Installment Two | |||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | ' | ' | ' | ' | 250,000,000 | 250,000,000 | ' | ' | ' | ' | 250,000,000 | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,428,911 | 1,214,456 | 1,214,456 | 4,848,376 | 2,424,188 | 2,424,188 | ' | ' | ' | ' | ' | ' | ' | ' |
Payable to related parties | ' | ' | ' | ' | $60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase an aggregate of shares of common stock | ' | ' | ' | 799,126 | 62,621 | 799,126 | ' | ' | 8,206,520 | 50,000 | 62,621 | ' | ' | ' | 177,302 | 799,126 | ' | 2,910,954 | 138,617 | 138,617 | 125,000 | ' | 532,750 | ' | ' | ' | ' | ' | ' | ' | ' | 97,536 | 65,843 | ' | ' | ' | ' | ' |
Warrant exercise price | ' | $5.75 | ' | ' | $4.75 | $5.09 | ' | ' | ' | ' | ' | ' | ' | ' | $5.75 | ' | ' | $2.04 | $2.04 | ' | $2.38 | ' | $5.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk free interest | ' | 4.71% | ' | 5.01% | 3.93% | 3.93% | ' | ' | 2.14% | 4.39% | 3.93% | 3.93% | ' | ' | ' | ' | ' | 2.41% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life | ' | 5 | ' | ' | 7 | 7 | ' | ' | 5 | 5 | 7 | 7 | ' | ' | ' | 7 | 7 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected volatility | ' | 93.00% | ' | 100.00% | 134.00% | 134.00% | ' | ' | 105.00% | 109.00% | 134.00% | 134.00% | ' | ' | ' | ' | 100.00% | 105.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected dividend yield | ' | 0.00% | ' | 0.00% | 0.00% | 0.00% | ' | ' | 0.00% | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General administrative expenses | ' | ' | ' | ' | 251,000 | 15,661,000 | 19,523,000 | 14,984,000 | ' | 45,000 | 251,000 | 103,979,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash commission Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | 7.00% | ' | ' | ' | ' | ' | ' | 3.33% | 6.00% | ' | ' | ' | ' | ' | ' |
Warrants issuable as a percentage of shares | 5.00% | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant term | ' | '5 years | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | '7 years | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' |
Percentage of per share exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payable to related parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash commission paid | ' | 1,000,000 | ' | 1,700,000 | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | 2,600,000 | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 168,000 | ' | ' | ' | ' | ' | ' | ' |
Payment to related parties | ' | ' | 180,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | 11,400,000 |
Amounts paid for services incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,800,000 | 6,600,000 |
Remaining service expenses expected to be incurred | ' | ' | ' | ' | ' | 1,948,000 | 6,912,000 | ' | ' | ' | ' | 1,948,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 4,800,000 |
Accrued expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $600,000 | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,857,143 | 3,636,926 | 1,923,075 | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 124 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 24 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 12, 2011 | 27-May-10 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 27, 2013 | Apr. 08, 2008 | Jun. 27, 2013 | Apr. 08, 2008 | Mar. 07, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2004 | Oct. 15, 2004 | Dec. 31, 2006 | Dec. 31, 2010 | Mar. 16, 2010 | Oct. 15, 2004 | Dec. 31, 2013 | Jan. 06, 2011 | Aug. 24, 2004 | Dec. 31, 2007 | Dec. 31, 2004 | Dec. 31, 2013 | Dec. 31, 2005 | Dec. 31, 2006 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2004 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 22, 2006 | Dec. 22, 2006 | Nov. 03, 2006 | Dec. 31, 2007 | Nov. 03, 2006 | Nov. 03, 2006 | Nov. 03, 2006 | Jan. 29, 2010 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 02, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Oct. 17, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2011 | Aug. 30, 2013 | Dec. 31, 2013 | |
Harmon Hill LLC | Harmon Hill LLC | Harmon Hill LLC | Harmon Hill LLC | Harmon Hill LLC | Harmon Hill LLC | Harmon Hill LLC | Harmon Hill LLC | Solasia | Solasia | Solasia | DEKK Tec Inc | DEKK Tec Inc | DEKK Tec Inc | DEKK Tec Inc | DEKK Tec Inc | DEKK Tec Inc | Intrexon Corporation | Intrexon Corporation | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | The University of Texas M.D. Anderson Cancer Center and The Texas A & M University System | Southern Research Institute | Southern Research Institute | Southern Research Institute | Southern Research Institute | Southern Research Institute | Southern Research Institute | Southern Research Institute | Southern Research Institute | Baxter Healthcare Corporation | Baxter Healthcare Corporation | Baxter Healthcare Corporation | Baxter Healthcare Corporation | Baxter Healthcare Corporation | PPD Development L. P. | PPD Development L. P. | PPD Development L. P. | PPD Development L. P. | PPD Development L. P. | PPD Development L. P. | Pharmaceutical Research Associates Inc | Pharmaceutical Research Associates Inc | Pharmaceutical Research Associates Inc | Novella Clinical, Inc. | Novella Clinical, Inc. | Novella Clinical, Inc. | NEW YORK | NEW YORK | NEW YORK | NEW YORK | NEW YORK | Boston, MA | Boston, MA | Boston, MA | Boston, MA | Boston, MA | Boston, MA | Boston, MA | Germantown, MD | Germantown, MD | Germantown, MD | Boston MA Office | Boston MA Office | |||||||||
Collaboration Agreement | Collaboration Agreement | Collaboration Agreement | Collaboration Agreement | Collaboration Agreement | Collaboration Agreement | Monthly Payment | Monthly Payment | Development-based milestones | Sales-based milestones | Upon the dosing of the first patient | Phase 3 | Upon receiving a United States Patent for palifosfamide | Up Front Payment | Quarterly Payment | Patent | Upon the commencement of Phase 1 clinical trial | Upon the dosing of the first patient | Intellectual Property Rights | Intellectual Property Rights | Upon the filing of an Investigation New Drug application (IND) for darinaparsin | Upon the completion of dosing of the last patient for both Phase 1 clinical trials | Upon enrollment of the first patient in a multi-center pivotal clinical trial | Up Front Payment | Execution Agreement | Maximum | Upon the successful U.S. IND application for indibulin | Assets | Inventories | Royalty Payments | Upon a clinical study commencement of enrollment in North America | Upon contract execution | Upon contract execution | Upon initial clinical study enrollment | Upon the achievement of various milestones | Upon the achievement of various milestones | Upon the achievement of various milestones | Upon the achievement of various milestones | Upon two database related milestones | sqft | sqft | sqft | sqft | The first floor | The second floor | The second floor | The third floor | The four floor | sqft | sqft | sqft | |||||||||||||||||||||||||||||||
Upon the dosing of the first patient | Collaboration Agreement | Collaboration Agreement | sqft | sqft | sqft | sqft | sqft | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Office space under operating lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,259 | ' | 6,251 | ' | ' | ' | 4,113 | ' | ' | 9,800 | ' | ' | 2,227 | ' | 21,184 |
Letter of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $388,000 | $388,000 | ' | $388,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional office space under operating lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,008 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating lease expiration month and year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2018-10 | '2018-10 | ' | ' | '2016-08 | ' | ' | ' | ' | ' | ' | ' | '2014-03 | ' | ' | ' |
Area under sublease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,259 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,249 | ' |
Loss on sublease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 729,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,000 |
Remaining contractual obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 367,000 |
Sublease revenue from subtenant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 325,000 |
Loss on disposal of fixed assets | ' | ' | -585,000 | -48,000 | 0 | ' | ' | -641,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -392,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -194,000 |
Operating lease space | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,249 | ' | 8,538 | 6,959 | ' | ' | ' | ' | ' | ' |
Security deposits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127,000 | ' | ' | ' | ' | 41,000 | ' | 4,000 | ' | 20,000 | 127,000 |
Security deposit from subtenant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 |
Office closing date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16-Jul-12 | ' | ' | ' | ' |
Total rent Expense | ' | ' | 1,000,000 | 1,100,000 | 647,000 | ' | ' | 5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred rent liability - current | ' | ' | 212,000 | 39,000 | ' | ' | ' | 212,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred rent liability - long term | ' | ' | 851,000 | 400,000 | ' | ' | ' | 851,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred rent liability net | ' | ' | 1,100,000 | 439,000 | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Licensing fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock granted | ' | ' | 2,649,900 | 2,309,650 | 1,894,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,487 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option to purchase common stock | ' | 1,050,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,616 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,222 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of stock ,price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,904 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,555 | 25,111 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock based compensation expenses | ' | ' | 3,507,000 | 4,880,000 | 2,759,000 | ' | ' | 23,688,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares expected to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,556 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Milestone payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 300,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | 100,000 | 250,000 | 100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 625,000 | ' | ' | ' | ' | 1,100,000 | 4,000,000 | 1,800,000 | 3,800,000 | 9,200,000 | ' | 2,200,000 | 7,300,000 | ' | 256,000 | 136,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Milestone maximum payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | 775,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | 20,000,000 | ' | ' | ' | ' | ' | 9,500,000 | ' | ' | 790,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares vested | ' | ' | ' | ' | ' | 6,904 | 25,111 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,904 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research expenses | 17,500,000 | ' | 42,852,000 | 83,446,000 | 57,083,000 | ' | ' | 255,197,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset Purchase Agreement, upfront cash payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual patent and license prosecution/maintenance fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Milestones under the license agreement expense | ' | ' | 250,000 | 250,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of company net profit | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of revenue agreed to pay which is obtained from sublicensor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract termination description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Our obligation to pay 50% of net profits or revenue described above with respect to these "retained" products will survive termination of the Channel Agreement. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other expense | ' | ' | ' | ' | ' | ' | ' | ' | 135,000 | 200,000 | 240,000 | 240,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment for consulting services fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 15,000 | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreement term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Upfront payment received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected Additional milestone payments to be received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $32,500,000 | $53,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future_Minimum_Lease_Payments_
Future Minimum Lease Payments under Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | ' |
2014 | $1,196 |
2015 | 1,236 |
2016 | 997 |
2017 | 501 |
2018 | 424 |
Operating Leases, Future Minimum Payments Due, Total | 4,354 |
Less: contractual sublease income | -1,883 |
Future minimum lease payments, net | $2,471 |
Warrants_Additional_Informatio
Warrants - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 124 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||
Feb. 23, 2007 | 3-May-06 | Jun. 06, 2005 | Dec. 22, 2004 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2013 | Dec. 31, 2008 | Jan. 31, 2004 | Sep. 30, 2003 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Oct. 31, 2009 | Feb. 23, 2007 | 3-May-06 | 31-May-05 | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2006 | Jun. 06, 2005 | Sep. 15, 2009 | Dec. 31, 2009 | Dec. 31, 2009 | Feb. 23, 2007 | 3-May-06 | |
Y | Y | Y | Y | Y | Y | Y | Equity | Equity | Equity | Equity | Liability Reclassed To Equity | Liability Reclassed To Equity | Liability Reclassed To Equity | Liability Reclassed To Equity | J. P. Morgan Securities LLC | Placement warrants for services performed, expiration date September 15, 2014 | Liability | Liability | Liability | Liability Warrants | Liability Warrants | Liability Warrants | Exercise of Warrants | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Private Placement | Registered direct offering | Investor | Investor | ||||||||||
Y | Y | Y | Placement Agents | Placement Agents | Y | |||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant issued | ' | ' | ' | ' | 184,367 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 419,786 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant exercised | ' | ' | ' | ' | 135,346 | 553,914 | 2,516,968 | 95,505 | ' | ' | 12,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 136,986 | ' | ' | 11,083 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant outstanding | ' | ' | ' | ' | 10,539,767 | ' | ' | ' | ' | ' | ' | ' | 10,539,767 | ' | ' | ' | 135,346 | 186,297 | 2,351,417 | 70,738 | 373,617 | 0 | 165,551 | 24,767 | ' | 8,235,076 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 408,703 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of warrant issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of stock price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.75 | $1.83 | ' | $4.63 | $4.31 | ' | ' | ' | ' | ' |
Revised price for warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.69 | $4.25 | ' | ' | ' | ' | ' | $3.93 | ' | ' |
Issuable price for common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.10 | ' | ' |
Warrants liabilities | ' | ' | ' | ' | 11,776,000 | 12,962,000 | ' | ' | ' | ' | ' | ' | 11,776,000 | 72,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase an aggregate of shares of common stock | ' | 799,126 | ' | 62,621 | 799,126 | ' | ' | ' | 8,206,520 | ' | 50,000 | 62,621 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 177,302 | 799,126 | ' | 2,910,954 | ' | ' | ' | 138,617 | 138,617 | ' | 1,182,015 | 2,397,392 |
Warrants issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 464,520 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant exercise price | $5.75 | ' | ' | $4.75 | $5.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.75 | ' | ' | $2.04 | ' | ' | ' | $2.04 | ' | ' | ' | ' |
Warrant exercisable Period | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant term | '5 years | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value of warrant | ' | ' | ' | ' | 3,500,000 | ' | ' | ' | 22,900,000 | ' | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 709,000 | 3,500,000 | ' | 4,207,000 | ' | ' | ' | ' | ' | ' | 4,700,000 | 9,600,000 |
Expected volatility | 93.00% | 100.00% | ' | 134.00% | 134.00% | ' | ' | ' | 105.00% | ' | 109.00% | 134.00% | 134.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' |
Risk free interest | 4.71% | 5.01% | ' | 3.93% | 3.93% | ' | ' | ' | 2.14% | ' | 4.39% | 3.93% | 3.93% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.41% | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life | 5 | ' | ' | 7 | 7 | ' | ' | ' | 5 | ' | 5 | 7 | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | 5 | 7 | ' | ' | ' | ' | ' | ' | 5 |
Expected dividend yield | 0.00% | 0.00% | ' | 0.00% | 0.00% | ' | ' | ' | 0.00% | ' | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' |
Common stock price per share in public offering | ' | ' | ' | ' | $3.50 | ' | ' | ' | ' | ' | ' | ' | $3.50 | ' | $0.50 | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Classified warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,866,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,800,000 | 13,000,000 | 19,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (expense) | ' | ' | ' | ' | -579,000 | -13,000 | 39,000 | ' | ' | ' | ' | ' | 4,122,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,200,000 | -6,100,000 | -7,600,000 | -300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General administrative expenses | ' | ' | ' | $251,000 | $15,661,000 | $19,523,000 | $14,984,000 | ' | ' | ' | $45,000 | $251,000 | $103,979,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants cancelled | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Warrants to Common Stock | ' | ' | ' | ' | 112,808 | 259,660 | 2,377,571 | 39,225 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 706,708 | 1,359,317 | 277,910 | 12,500 | 579 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative_Effect_on_Balance_S
Cumulative Effect on Balance Sheets of Reclassification Attributed to Adoption of Standard (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2008 |
In Thousands, unless otherwise specified | |||
Class of Warrant or Right [Line Items] | ' | ' | ' |
Liabilities Warrants | $11,776 | $12,962 | $72 |
Stockholders' Equity, Warrants | ' | ' | 18,866 |
Stockholders' Equity, Deficit Accumulated During the Development Stage | 340,831 | 283,724 | -83,495 |
As reported | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Stockholders' Equity, Warrants | ' | ' | 20,504 |
Stockholders' Equity, Deficit Accumulated During the Development Stage | ' | ' | -85,061 |
Restatement Adjustment | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Liabilities Warrants | ' | ' | 72 |
Stockholders' Equity, Warrants | ' | ' | -1,638 |
Stockholders' Equity, Deficit Accumulated During the Development Stage | ' | ' | $1,566 |
Assumptions_Used_In_Binomial_V
Assumptions Used In Binomial Valuation Model and Black-Scholes Valuation Model (Detail) | Dec. 31, 2013 | Dec. 31, 2009 | Feb. 23, 2007 | 3-May-06 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 22, 2004 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2008 | Dec. 31, 2011 | Dec. 31, 2011 |
Y | Y | Y | Y | Y | Y | Binomial/Monte Carlo Option Pricing Model | Binomial/Monte Carlo Option Pricing Model | Binomial/Monte Carlo Option Pricing Model | Binomial/Monte Carlo Option Pricing Model | Black Scholes Option Pricing Model | Black Scholes Option Pricing Model | Black Scholes Option Pricing Model | Black Scholes Option Pricing Model | ||
Minimum | Minimum | Y | Minimum | Maximum | |||||||||||
Y | Y | Y | Y | ||||||||||||
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate | 3.93% | 2.14% | 4.71% | 5.01% | 4.39% | 3.93% | 3.93% | ' | ' | 0.13% | 0.25% | ' | 1.55% | 0.05% | 0.35% |
Expected life in years | 7 | 5 | 5 | ' | 5 | 7 | 7 | ' | ' | 0.94 | 1.94 | ' | 3.42 | 0.42 | 2.92 |
Expected volatility | 134.00% | 105.00% | 93.00% | 100.00% | 109.00% | 134.00% | 134.00% | ' | ' | 80.00% | 70.00% | ' | 102.00% | 64.00% | 80.00% |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ' | ' | 0.00% | 0.00% | ' | ' |
Summary_of_Warrants_Outstandin
Summary of Warrants Outstanding (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Class of Warrant or Right [Line Items] | ' |
Warrants outstanding | 10,539,767 |
Placement warrants for services performed, expiration date May 3, 2013 | ' |
Class of Warrant or Right [Line Items] | ' |
Warrants outstanding | 2,264,393 |
Exercise Price | 2.04 |
Expiration Date | 15-Sep-14 |
Investor warrants, expiration date September 15, 2014 | ' |
Class of Warrant or Right [Line Items] | ' |
Warrants outstanding | 40,298 |
Exercise Price | 2.04 |
Expiration Date | 15-Sep-14 |
Placement warrants for services performed, expiration date September 15, 2014 | ' |
Class of Warrant or Right [Line Items] | ' |
Warrants outstanding | 8,235,076 |
Exercise Price | 4.02 |
Expiration Date | 9-Dec-14 |
Significant_Component_of_Defer
Significant Component of Deferred Tax Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets [Line Items] | ' | ' |
Net operating loss carryforwards | $66,209 | $42,715 |
Start-up and organizational costs | 41,529 | 44,262 |
Research and development credit carryforwards | 25,058 | 18,388 |
Stock compensation | 1,028 | 991 |
Capitalized acquisition costs | 12,323 | 13,270 |
Deferred revenue | 1,074 | 1,388 |
Depreciation | 129 | 331 |
Other | 1,254 | 998 |
Deferred Tax Assets Gross | 148,604 | 122,343 |
Less valuation allowance | -148,604 | -122,343 |
Net deferred tax assets | ' | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards | $66,209,000 | $42,715,000 |
Research and development credit carryforwards | 25,058,000 | 18,388,000 |
Net Operating loss Carryforwards resulting from excess tax deduction | 4,200,000 | ' |
Increase (decrease) in valuation allowance | 26,300,000 | ' |
Federal | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards | 197,000,000 | ' |
Net operating loss carryforwards, expiration date | '2032 | ' |
Research and Development Credit | ' | ' |
Income Taxes [Line Items] | ' | ' |
Net operating loss carryforwards, expiration date | '2032 | ' |
Research and development credit carryforwards | 25,000,000 | ' |
Net Operating Loss Carryforwards | ' | ' |
Income Taxes [Line Items] | ' | ' |
Increase (decrease) in deferred tax assets | -11,200,000 | ' |
General Business Credits | ' | ' |
Income Taxes [Line Items] | ' | ' |
Increase (decrease) in deferred tax assets | ($636,000) | ' |
Reconciliation_of_Income_Tax_E
Reconciliation of Income Tax Expense (Benefit) (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reconciliation of Effective Tax Rate [Line Items] | ' | ' | ' |
Federal income tax at statutory rates | 34.00% | 34.00% | 34.00% |
State income tax, net of federal tax benefit | 4.00% | 5.00% | 6.00% |
Research and development credits | 9.00% | 10.00% | 11.00% |
Stock compensation | -2.00% | -1.00% | -1.00% |
Uncertain tax position adjustment | 0.00% | 0.00% | 0.00% |
Change in warrant value | 1.00% | 2.00% | 4.00% |
Federal R&D tax grant | 0.00% | 0.00% | 0.00% |
Other | 0.00% | 0.00% | 0.00% |
Increase in valuation allowance | -46.00% | -49.00% | -54.00% |
Effective tax rate | 0.00% | 0.00% | 0.00% |
Summary_of_Adjustments_to_Unce
Summary of Adjustments to Uncertain Tax Position (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Contingency [Line Items] | ' | ' | ' |
Beginning Balance | $275 | $275 | $275 |
Increase/Decrease for tax positions related to the current year | ' | ' | ' |
Increase/Decrease for tax positions related to prior years | -37 | ' | ' |
Decreases for settlements with applicable taxing authorities | ' | ' | ' |
Decreases for lapses of statute of limitations | ' | ' | ' |
Ending Balance | $238 | $275 | $275 |
Preferred_Stock_and_Stockholde1
Preferred Stock and Stockholders' Equity - Additional Information (Detail) (USD $) | 1 Months Ended | 1 Months Ended | ||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Oct. 29, 2013 | Jan. 20, 2012 | Feb. 03, 2011 | Jan. 12, 2011 | 27-May-10 | Jun. 02, 2010 | Dec. 04, 2009 | Dec. 09, 2009 | Sep. 15, 2009 | Feb. 23, 2007 | 3-May-06 | Jun. 06, 2005 | Jan. 31, 2004 | Sep. 30, 2003 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 26, 2006 | Dec. 31, 2005 | Feb. 29, 2004 | Oct. 29, 2013 | Nov. 07, 2012 | Jan. 25, 2012 |
Intrexon Corporation | Intrexon Corporation | Intrexon Corporation | ||||||||||||||||||||
Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of authorized capital stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 280,000,000 | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | 250,000,000 | 250,000,000 | ' | ' | ' | ' | ' |
Common stock par value per share | ' | ' | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ' | ' | ' |
Preferred stock, shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | 30,000,000 | 30,000,000 | ' | ' | ' | ' | ' |
Preferred stock par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' |
Common Stock Additional Shares Issued | ' | ' | ' | 3,636,926 | ' | ' | ' | ' | ' | ' | ' | ' | 9,017,538 | 1,001,949 | 100,159,618 | 83,236,840 | ' | ' | ' | ' | ' | ' |
Price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | $0.50 | $3.50 | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common stock | $57,600 | $52,600 | $63,500 | $11,600 | ' | $35,000 | ' | $48,000 | $5,100 | $30,900 | $37,000 | $18,100 | $4,500 | $500 | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Shares Sold | 16,445,000 | 10,114,401 | 11,040,000 | 2,426,235 | 7,000,000 | 7,000,000 | 15,484,000 | 15,484,000 | 2,772,337 | 5,910,049 | 7,991,256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock price per share | $3.50 | $5.20 | $5.75 | $4.80 | ' | $5 | $3.10 | $3.10 | $1.83 | $5.22 | $4.63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,857,143 | 3,636,926 | 1,923,075 |
Common stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,159,618 | 83,236,840 | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' |
Stock_Option_Plan_Additional_i
Stock Option Plan - Additional information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 124 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
Aug. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | 31-May-13 | Mar. 31, 2013 | Jan. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2010 | Jan. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-12 | Feb. 29, 2012 | Jan. 31, 2012 | Dec. 31, 2011 | Jul. 31, 2011 | Dec. 31, 2009 | Sep. 30, 2009 | Dec. 31, 2008 | Jan. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 29, 2012 | Dec. 31, 2011 | Jan. 31, 2011 | Apr. 30, 2010 | Mar. 31, 2010 | Dec. 31, 2009 | Sep. 30, 2009 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 23, 2010 | Jun. 04, 2009 | Apr. 25, 2007 | Apr. 26, 2006 | Dec. 21, 2004 | 31-May-12 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Employees | Director | Director | Director | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Unvested Restricted Common Stock | the "2003" plan | the "2003" plan | the "2003" plan | the "2003" plan | the "2003" plan | the "2003" plan | the "2012 Plan" | the "2012 Plan" | the "2012 Plan" | the "2012 Plan" | ||||||||
Maximum | Minimum | Employees | Employees | Employees | Employees | Employees | Employees | Employees | Employees | Employees | Employees | Non Employee Directors | Non Employee Directors | Non Employee Directors | Non Employee Directors | Non Employee Directors | Non Employee Directors | Non Employee Directors | Non Employee Directors | Board of Directors | Board of Directors | Employees | Director | Consultants | ||||||||||||||||||||||||||||||||
Maximum | Maximum | Maximum | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock reserved for future issuance | ' | 45,823 | ' | ' | ' | ' | 45,823 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,002,436 | 3,000,000 | 2,000,000 | 2,000,000 | 750,000 | 1,252,436 | 4,000,000 | ' | ' | ' |
Outstanding options issued | ' | 6,747,303 | 7,147,303 | 5,138,486 | 4,566,935 | ' | 6,747,303 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,834,408 | 912,645 | 250 |
Vesting period | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | '3 years | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | '3 years | '3 years | '3 years | '3 years | '1 year | ' | '3 years | ' | '1 year | '3 years | ' | '3 years | '3 years | '1 year | '1 year | '2 years | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual terms | ' | ' | ' | ' | ' | ' | ' | '10 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expenses | ' | $3,507,000 | $4,880,000 | $2,759,000 | $27,000 | $120,000 | ' | ' | ' | ' | ' | $1,200,000 | ' | ' | ' | $1,700,000 | ' | $635,000 | ' | ' | ' | ' | ' | $1,700,000 | $635,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options vested in period | ' | ' | ' | ' | 6,904 | 25,111 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercised | 25,111 | 570,168 | 8,300 | 479,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from stock options exercised | 50,000 | 956,000 | 30,000 | 980,000 | ' | ' | 2,329,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of options | 104,000 | 1,400,000 | 11,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation costs | ' | $8,500,000 | ' | ' | ' | ' | $8,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected recognition period | ' | '1 year 10 months 2 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 5 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based payment award granted | ' | 75,272 | 258,032 | 848,406 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | 43,802 | 101,500 | 720,675 | 50,000 | 347,500 | 828,000 | 396,500 | 100,000 | 70,000 | 75,272 | 87,730 | 43,802 | 52,731 | 25,000 | 25,000 | 90,000 | 45,000 | 180,000 | 90,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,683 | 2,623 | 5,400 | 52,018 | 107,413 | 15,740 | 44,369 | 15,190 | 51,116 | 349,710 | 15,283 | 103,823 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of shares of restricted common stock, price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.37 | $1.65 | $4.50 | $4.28 | $4.19 | $6.06 | $4.41 | $5.14 | $4.66 | $3.95 | $3.10 | $3.66 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Option_Activity_Under_St
Stock Option Activity Under Stock Option Plan (Detail) (USD $) | 1 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Aug. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Number of Shares | ' | ' | ' | ' |
Beginning Balance | ' | 7,147,303 | 5,138,486 | 4,566,935 |
Granted | ' | 2,649,900 | 2,309,650 | 1,894,300 |
Exercised | -25,111 | -570,168 | -8,300 | -479,666 |
Cancelled | ' | -2,479,732 | -292,533 | -843,083 |
Ending Balance | ' | 6,747,303 | 7,147,303 | 5,138,486 |
Vested and unvested expected to vest at end of period | ' | 6,711,969 | ' | ' |
Options exercisable, at end of period | ' | 3,471,935 | 3,683,786 | ' |
Options available for future grant | ' | 416,964 | ' | ' |
Weighted Average Exercise Price | ' | ' | ' | ' |
Beginning Balance | ' | $4.11 | $4.08 | $2.82 |
Granted | ' | $3.28 | $4.36 | $5.65 |
Exercised | ' | $1.68 | $3.61 | $2.04 |
Cancelled | ' | $4.58 | $5.70 | $5.01 |
Ending Balance | ' | $3.81 | $4.11 | $4.08 |
Vested and unvested expected to vest at end of period | ' | $4.01 | ' | ' |
Options exercisable, at end of period | ' | $4.01 | $3.56 | ' |
Weighted Average Contractual Term (Years) | ' | ' | ' | ' |
Outstanding, at end of period | ' | '7 years 2 months 1 day | ' | ' |
Vested and unvested expected to vest at end of period | ' | '5 years 11 days | ' | ' |
Options exercisable, at end of period | ' | '5 years 11 days | '5 years 3 months 11 days | ' |
Aggregate Intrinsic Value | ' | ' | ' | ' |
Outstanding, at end of period | ' | $5,339 | ' | ' |
Vested and unvested expected to vest at end of period | ' | 5,311 | ' | ' |
Options exercisable, at end of period | ' | $2,654 | $3,972 | ' |
Summary_of_Unvested_Restricted
Summary of Unvested Restricted Stock (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Number of Shares | ' | ' | ' |
Beginning Balance | 733,739 | 950,906 | 348,753 |
Granted | 75,272 | 258,032 | 848,406 |
Vested | -292,399 | -351,829 | -229,586 |
Cancelled | -163,747 | -123,370 | -16,667 |
Ending Balance | 352,865 | 733,739 | 950,906 |
Weighted Average Grant Date Fair Value | ' | ' | ' |
Beginning Balance | $4.37 | $4.34 | $2.30 |
Granted | $4.34 | $4.39 | $4.52 |
Vested | $4.31 | $4.32 | $3.56 |
Cancelled | $4.42 | $4.34 | $2.85 |
Ending Balance | $4.38 | $4.37 | $4.34 |
Employee_Benefit_Plan_Addition
Employee Benefit Plan - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined benefit plan contributions by employer | $139 | $266 | $38 |
Selected_Quarterly_Information2
Selected Quarterly Information (Detail) (USD $) | 3 Months Ended | 4 Months Ended | 12 Months Ended | 28 Months Ended | 124 Months Ended | ||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2003 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2005 | Dec. 31, 2013 |
Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating expenses | 6,919 | 9,315 | 18,496 | 23,783 | 39,043 | 21,927 | 23,166 | 18,833 | ' | 58,513 | 102,969 | 72,067 | ' | ' | ' | ' | ' | ' | ' | ' | 359,176 |
Loss from operations | -6,719 | -9,115 | -18,296 | -23,583 | -38,843 | -21,727 | -22,966 | -18,633 | ' | -57,713 | -102,169 | -71,400 | ' | ' | ' | ' | ' | ' | ' | ' | -356,909 |
Change in fair value of warrants | -1,793 | -7,407 | -403 | 10,788 | 8,566 | 3,945 | -650 | -5,811 | ' | 1,185 | 6,050 | 7,583 | ' | ' | ' | ' | ' | ' | ' | ' | 11,956 |
Net (loss) | ($8,903) | ($16,713) | ($18,692) | ($12,799) | ($30,225) | ($17,824) | ($23,613) | ($24,470) | ($160) | ($57,107) | ($96,132) | ($63,778) | ($32,670) | ($7,649) | ($25,231) | ($26,608) | ($17,857) | ($9,517) | ($5,687) | ($15,364) | ($340,831) |
Loss per share, basic and diluted | ($0.09) | ($0.20) | ($0.22) | ($0.15) | ($0.37) | ($0.23) | ($0.30) | ($0.32) | ' | ($0.66) | ($1.22) | ($0.97) | ' | ' | ' | ' | ' | ' | ' | ($3.75) | ' |