Curis (CRIS) 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 02, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	CRIS
Entity Registrant Name	CURIS INC
Entity Central Index Key	1,108,205
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		129,613,751

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 31,485,243	$ 7,747,411
Investments	67,701,055	42,002,782
Short-term investment - restricted		13,877
Accounts receivable	2,093,094	1,960,995
Prepaid expenses and other current assets	777,401	489,844
Total current assets	102,056,793	52,214,909
Property and equipment, net	323,101	407,738
Long-term investments		788,768
Long-term investment - restricted	152,610	152,610
Goodwill	8,982,000	8,982,000
Other assets	61,715	67,544
Total assets	111,576,219	62,613,569
Current Liabilities:
Accounts payable	2,385,382	2,349,183
Accrued liabilities	1,818,072	2,007,699
Current portion of long-term debt, net	4,846,338	5,709,985
Total current liabilities	9,049,792	10,066,867
Long-term debt, net	21,790,893	22,589,058
Other long-term liabilities	158,533	174,018
Total liabilities	$ 30,999,218	$ 32,829,943
Commitments
Stockholders' Equity:
Common stock, $0.01 par value-225,000,000 shares authorized; 129,613,751 shares issued and 128,390,905 shares outstanding at June 30, 2015; 87,253,657 shares issued and 86,030,811 shares outstanding at December 31, 2014	$ 1,296,138	$ 872,537
Additional paid-in capital	900,338,680	810,001,410
Treasury stock (at cost, 1,222,846 shares)	(1,524,029)	(1,524,029)
Accumulated deficit	(819,532,211)	(779,555,295)
Accumulated other comprehensive loss	(1,577)	(10,997)
Total stockholders' equity	80,577,001	29,783,626
Total liabilities and stockholders' equity	$ 111,576,219	$ 62,613,569

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	225,000,000	225,000,000
Common stock, shares issued	129,613,751	87,253,657
Common stock, shares outstanding	128,390,905	86,030,811
Treasury stock, at cost	1,222,846	1,222,846

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES:
Royalties	$ 2,033,836	$ 1,823,935	$ 3,704,906	$ 3,112,183
Research and development, net	48,668	(22,650)	35,930	(26,265)
License fees		3,000,000		3,000,000
Total revenues	2,082,504	4,801,285	3,740,836	6,085,918
COSTS AND EXPENSES:
Cost of royalty revenues	102,972	91,837	187,064	156,985
Research and development	5,937,976	3,328,976	10,656,948	6,474,906
In-process research and development			24,347,815
General and administrative	3,410,972	2,925,259	6,939,974	5,752,157
Total costs and expenses	9,451,920	6,346,072	42,131,801	12,384,048
Loss from operations	(7,369,416)	(1,544,787)	(38,390,965)	(6,298,130)
OTHER INCOME/(EXPENSE):
Interest income	84,092	41,479	124,363	90,239
Interest expense	(843,369)	(949,730)	(1,710,314)	(1,900,706)
Change in fair value of warrant liability	0	557,253	0	648,876
Total other expense	(759,277)	(350,998)	(1,585,951)	(1,161,591)
Net loss	$ (8,128,693)	$ (1,895,785)	$ (39,976,916)	$ (7,459,721)
Net loss per common share (basic and diluted)	$ (0.06)	$ (0.02)	$ (0.34)	$ (0.09)
Weighted average common shares (basic and diluted)	128,351,482	85,963,836	118,199,388	85,940,842
Total comprehensive loss	$ (8,127,868)	$ (1,885,634)	$ (39,967,496)	$ (7,445,336)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (39,976,916)	$ (7,459,721)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	82,397	74,837
Stock-based compensation expense	1,973,701	1,427,265
Change in fair value of warrant liability	0	(648,876)
Non-cash interest expense on investments	(47,123)	69,046
Amortization of debt issuance costs	30,730	52,427
Gain on disposal of assets	(16,545)
Issuance of common stock in consideration for rights granted under Aurigene collaboration agreement (see Note 4(b))	23,968,183
Payment-in kind interest on Curis Royalty's debt		(711,353)
Changes in operating assets and liabilities:
Accounts receivable	(132,099)	(3,366,224)
Prepaid expenses and other assets	(273,826)	131,908
Accounts payable and accrued liabilities	(153,956)	395,205
Total adjustments	25,431,462	(2,575,765)
Net cash used in operating activities	(14,545,454)	(10,035,486)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investments	(66,295,557)	(25,347,887)
Sales of investments	41,442,595	35,736,387
Purchases of property and equipment	(14,957)	(58,861)
Decrease in restricted cash	13,877	13,877
Net cash (used in)/provided by investing activities	(24,854,042)	10,343,516
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock associated with offerings, net of issuance costs (see Note 8(a))	64,619,407
Proceeds from issuance of common stock under the Company's share-based compensation plans	195,400	256,843
Payments on Curis Royalty's debt	(1,677,479)
Net cash provided by financing activities	63,137,328	256,843
NET INCREASE IN CASH AND CASH EQUIVALENTS	23,737,832	564,873
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	7,747,411	9,591,487
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 31,485,243	$ 10,156,360

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	1. Nature of Business Curis, Inc. is a biotechnology company seeking to develop and commercialize innovative drug candidates for the treatment of human cancers. As used throughout these consolidated financial statements, the term “the Company” refers to the business of Curis, Inc. and its wholly owned subsidiaries, except where the context otherwise requires, and the term “Curis” refers to Curis, Inc. The Company conducts its research and development programs both internally and through strategic collaborations. The Company’s most advanced drug candidate is CUDC-907, an orally-available, small molecule inhibitor of histone deacetylase, or HDAC, and phosphatidylinositol-3-kinase, or PI3K enzymes. In January 2015, the Company entered into an exclusive collaboration agreement focused on immuno-oncology and selected precision oncology targets with Aurigene Discovery Technologies Limited, or Aurigene (see Note 4(b)). The collaboration provides for inclusion of multiple programs, with Curis having the option to exclusively license compounds once a development candidate is nominated within each respective program. The first two programs under the collaboration are focused on the development of orally-available small molecule antagonists of programmed death ligand-1 (PD-L1) in the immuno-oncology field and orally-available small molecule inhibitors of Interleukin-1 receptor-associated kinase 4 (IRAK4) in the precision oncology field. The Company’s collaborators, F. Hoffmann-La Roche Ltd, or Roche, and Genentech Inc., or Genentech, a member of the Roche Group, are commercializing Erivedge® (vismodegib), a first-in-class orally-administered small molecule Hedgehog pathway inhibitor, in advanced basal cell carcinoma, or BCC. Roche and Genentech are also continuing Erivedge’s clinical development in less severe forms of BCC as well as planned development in other non-oncology indications. The Company’s proprietary pipeline also includes CUDC-427, an orally-available, small molecule antagonist of inhibitor of apoptosis, or IAP proteins, and CUDC-305, a Heat Shock Protein 90, or HSP90, inhibitor. The Company currently intends to utilize its available resources for the continued development of CUDC-907 and drug candidates under a collaboration with Aurigene. As such, Curis is seeking to collaborate with third parties for the further development of CUDC-427 and CUDC-305. The Company operates in a single reportable segment, which is the research and development of innovative cancer therapeutics. The Company expects that any products that are successfully developed and commercialized would be used in the health care industry and would be regulated in the United States by the Food and Drug Administration, or FDA, and in overseas markets by similar regulatory authorities. The Company is subject to risks common to companies in the biotechnology industry as well as risk that are specific to the Company’s business, including, but not limited to: the Company’s reliance on Genentech and Roche to successfully commercialize Erivedge in the approved indication of advanced BCC and to progress its clinical development in indications other than BCC; the Company’s reliance on Aurigene to successfully discover and preclinically develop drug candidates under the parties’ collaboration agreement; the Company’s ability to advance and expand its research and development programs; the Company’s ability to obtain adequate financing to fund its operations; the ability of the Company’s wholly owned subsidiary, Curis Royalty, LLC, or Curis Royalty, to satisfy the terms of its loan agreement with BioPharma Secured Debt Fund II Sub, S.à r.l., a Luxembourg limited liability company managed by Pharmakon Advisors, or BioPharma-II; the Company’s ability to obtain and maintain necessary intellectual property protection; development by the Company’s competitors of new or better technological innovations; dependence on key personnel; the Company’s ability to comply with regulatory requirements; and the Company’s ability to execute on its overall business strategies. The Company’s future operating results will largely depend on the magnitude of payments that it receives and makes under its current and potential future corporate collaborations and the progress of drug candidates currently in its development pipeline. The results of the Company’s operations will vary significantly from year to year and quarter to quarter and depend on a number of factors, including, but not limited to: Roche and Genentech’s ability to successfully commercialize Erivedge; positive results in Roche and Genentech’s ongoing clinical trials; Aurigene’s ability to successfully discover and develop preclinical programs under the Company’s collaboration with Aurigene, as well as the Company’s decision to exclusively license and further develop programs under this collaboration; the timing, outcome and cost of the Company’s preclinical studies and clinical trials for its drug candidates; and the Company’s ability to successfully enter into one or more material outlicensing or collaboration agreements for its proprietary drug candidates. The Company anticipates that existing cash, cash equivalents and investments at June 30, 2015 should enable it to maintain current and planned operations into 2017. The Company’s ability to continue funding its planned operations beyond this period is dependent upon, among other things, the success of its collaborations with Genentech and the Leukemia & Lymphoma Society, or LLS, including its receipt of additional contingent cash payments under these collaborations; its ability to control expenses and its ability to raise additional funds through equity or debt financings, new collaborations or other sources of financing. The Company may not be able to successfully raise additional funds or enter into or continue any corporate collaborations and the timing, amount and likelihood of the Company receiving payments under such collaborations is highly uncertain. If the Company is unable to obtain adequate financing, the Company may be required to reduce or delay spending on its research and/or development programs.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. These statements, however, are condensed and do not include all disclosures required by accounting principles generally accepted in the United States, or GAAP, for complete financial statements and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, or the Annual Report, as filed with the Securities and Exchange Commission on February 24, 2015. In the opinion of the Company, the unaudited financial statements contain all adjustments (all of which were considered normal and recurring) necessary for a fair statement of the Company’s financial position at June 30, 2015, the results of operations for the three- and six-month periods ended June 30, 2015 and 2014 and the cash flows for the six-month periods ended June 30, 2015 and 2014. The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosure of certain assets and liabilities at the balance sheet date. Such estimates include the performance obligations under the Company’s collaboration agreements; the estimated repayment term of the Company’s debt and related short- and long-term classification; the fair value of the Company’s debt; the collectability of receivables; the carrying value of property and equipment and intangible assets; the assumptions used in the Company’s valuation of stock-based compensation and the value of certain investments and liabilities, including our long-term warrant liability. Actual results may differ from such estimates. These interim results are not necessarily indicative of results to be expected for a full year or subsequent interim periods.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Revenue Recognition	3. Revenue Recognition The Company is currently a party to collaboration agreements with Genentech and The Leukemia & Lymphoma Society, or LLS. The terms of the Company’s agreement with Genentech provide for Genentech to make a non-refundable license fee payment, research and development funding payments, contingent cash payments based upon achievement of clinical development and regulatory objectives, and royalties on product sales if any products are successfully commercialized. The Company’s agreement with LLS includes contingent cash payments for the achievement of preclinical and clinical development objectives. For a complete discussion of the Company’s revenue recognition policy, see Note 2(c) included in its 2014 Annual Report on Form 10-K.

Collaboration Agreements

Collaboration Agreements	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration Agreements	4. Collaboration Agreements (a) Genentech In June 2003, the Company licensed its proprietary Hedgehog pathway technologies to Genentech for human therapeutic use. The primary focus of the collaborative research plan has been to develop molecules that inhibit the Hedgehog pathway for the treatment of various cancers. The collaboration is currently focused on the development of Erivedge, which is being commercialized by Genentech in the United States and by Roche in several other countries for the treatment of advanced basal cell carcinoma. Genentech’s parent company, Roche, is also conducting additional exploratory Phase 2 studies in patients with less severe forms of basal cell carcinoma. Pursuant to the agreement, the Company is eligible to receive up to an aggregate of $115,000,000 in contingent cash milestone payments, exclusive of royalty payments, in connection with the development of Erivedge or another small molecule Hedgehog pathway inhibitor, assuming the successful achievement by Genentech and Roche of specified clinical development and regulatory objectives. Of this amount, the Company has received $59,000,000 as of June 30, 2015. In June 2014, Roche filed an investigational new drug application for the use of Erivedge in patients with idiopathic pulmonary fibrosis, a non-oncology indication, resulting in a milestone payment of $3,000,000 to the Company. As a result of this milestone payment, the Company recognized revenue of $3,000,000 during the three and six months ended June 30, 2014. No such payments were received during the three and six months ended June 30, 2015. Pursuant to agreements by and between the Company and two university licensors, the Company has made certain payments to such licensors in connection with its receipt of milestone payments from Genentech. The Company recorded research and development expenses of $150,000 during the three and six months ended June 30, 2014, related to the payments the Company made to its licensors upon the Company’s receipt of this milestone payment from Genentech. In addition to the contingent cash milestone payments, the Company’s wholly-owned subsidiary, Curis Royalty, is entitled to a royalty on net sales of Erivedge that ranges from 5% to 7.5% based upon global Erivedge sales by Roche and Genentech, subject to reduction under specified circumstances. Future royalty payments related to Erivedge will service the outstanding debt and accrued interest to BioPharma-II, up to the quarterly caps for 2015, and until the debt is fully repaid thereafter (see Note 7). The Company recognized royalty revenues from Genentech’s net sales of Erivedge of $2,033,836 and $1,823,935 during the three months ended June 30, 2015 and 2014, respectively, and $3,704,906 and $3,112,183 during the six months ended June 30, 2015 and 2014, respectively. The Company recorded cost of royalty revenues within the costs and expenses section of its Condensed Consolidated Statements of Operations and Comprehensive Loss of $102,972 and $91,837 during the three months ended June 30, 2015 and 2014, respectively, and $187,064 and $156,985 during the six months ended June 30, 2015 and 2014, respectively. For each of these periods, these amounts are comprised of 5% of the Erivedge royalties earned by Curis Royalty that the Company is obligated to pay to university licensors. As further discussed in Note 7, the Company expects that all royalty revenues received by Curis Royalty from Genentech on net sales of Erivedge will be used by Curis Royalty to pay principal and interest under the loan that Curis Royalty received from BioPharma II, subject to the specified quarterly cap, until such time as the loan is fully repaid. The Company recorded research and development revenue of $80,938 and $31,376 during the three months ended June 30, 2015 and 2014, respectively, and research and development revenue of $136,724 and $71,237 during the six months ended June 30, 2015 and 2014, respectively, related to expenses incurred by the Company on behalf of Genentech that were paid by the Company and for which Genentech is obligated to reimburse the Company. Genentech incurred expenses of $45,630 and $54,153 during the three months ended June 30, 2015 and 2014, respectively, and expenses of $114,405 and $139,583 during the six months ended June 30, 2015 and 2014, respectively, under this collaboration, for which the Company is obligated to reimburse to Genentech, and which the Company has recorded as contra-revenues in its Condensed Consolidated Statements of Operations and Comprehensive Loss. (b) Aurigene Collaboration Overview. The collaboration agreement specifies that the first two programs will be directed at developing orally available small molecules that will target the modulation of IRAK4 and PD-1 pathway, respectively. The Company anticipates that at least two additional programs will be selected within two years of the effective date of the collaboration agreement, and the Company’s goal is to have the collaboration’s steering committee recommend as many additional programs as feasible, in order for Aurigene to initiate or continue the relevant preclinical activities as described in a written plan for each program. In April 2015, the Company selected a third program under this collaboration which is directed at antagonizing an immune checkpoint target. Under the terms of its agreement with Aurigene, Curis made a $2,000,000 milestone payment to Aurigene as a result of this selection. For each program, Aurigene has granted the Company an exclusive option, exercisable within 90 days after Aurigene delivers the relevant data regarding a development candidate, to obtain an exclusive, royalty-bearing license to develop, manufacture and commercialize compounds from such program, including the development candidate and products containing such compounds, anywhere in the world, excluding India and Russia. Upon exercise of the option for a particular program, Aurigene will grant the Company the royalty-bearing license described above for such program, and the Company will grant Aurigene an exclusive, royalty-free, fully paid license under the Company’s relevant technology to develop, manufacture and commercialize compounds from such program and products containing such compounds in India and Russia. For each program with respect to which the Company exercises the option to license (as described above), it is obligated to use commercially reasonable efforts to develop, obtain regulatory approval for, and commercialize at least one product in each of the U.S., specified countries in the European Union, and Japan, and Aurigene is obligated to use commercially reasonable efforts to perform its obligations under the development plan for such licensed program in an expeditious manner. Subject to specified exceptions, Aurigene and the Company have agreed to collaborate exclusively with each other on the discovery, research, development and commercialization of programs and compounds within immuno-oncology for an initial period of approximately two years from the effective date of the collaboration agreement. At the Company’s option, and subject to specified conditions, it may extend such exclusivity for up to three additional one year periods by paying to Aurigene exclusivity option fees on an annual basis. In addition, beyond the up-to five years of exclusivity described above, and subject to specified exceptions, Aurigene and the Company have agreed to collaborate exclusively with each other on each program for which there are ongoing activities in research or development, or for which the Company has exercised its option to exclusively license (as described above) and the Company or its affiliates or sublicensees are actively developing or commercializing a compound or product from such program in a major market, subject to the Company’s payment of an annual exclusivity fee on a program-by-program basis. For each product that may be commercialized, the Company has granted Aurigene the right, subject to certain conditions, to nominate one global supplier of drug substance or drug product to provide up to 50% of the total requirements in the Company’s territory. Up-front Equity Issuance. Research Payments, Option Exercise Fees and Milestone Payments. • for the first two programs: up to $52,500,000 per program, including up to $10,000,000 for an option exercise fee, a preclinical milestone and development milestones, as well as specified approval and commercial milestones, plus specified additional payments for approvals for additional indications, if any; • for the third and fourth programs: up to $50,000,000 per program, including up to $7,500,000 for research fees, an option exercise fee, a preclinical milestone and development milestones, as well as specified approval and commercial milestones, plus specified additional payments for approvals for additional indications, if any; and • for any program thereafter: up to $140,500,000 per program, including up to a total of $53,000,000 for research fees, an option exercise fee, a preclinical milestone and development milestones, as well as specified filing, approval and commercial milestones, plus specified additional payments for approvals for additional indications, if any. Royalties on Net Sales by the Company. Amounts that the Company Receives from Sublicensees. • with respect to amounts that the Company and its affiliates receive from sublicensees with respect to the grant of a sublicense of a licensed program in the U.S. or the European Union, a declining percentage of non-royalty sublicense revenues that is dependent on the stage of the most advanced product for such licensed program at the time the sublicense is granted, including for example 25% of such amounts following the Company’s initiation of Phase 2 clinical study and 15% of such amounts after initiation of the first pivotal study. This sharing will also extend to royalties that the Company receives from sublicensees, subject to minimum royalty percentage rates that the Company is obligated to pay to Aurigene, which generally range from mid-to-high single-digit royalty percentage rates up to 10%; • with respect to sublicensing revenues the Company and its affiliates receive from sublicensees with respect to the grant of a sublicense of a licensed program in Asia, 50% of such sublicensing revenues, including both non-royalty sublicensee revenues and royalties that the Company receives from sublicensees; and • with respect to non-royalty sublicensing revenues the Company and its affiliates receive from sublicensees with respect to the grant of a sublicense of a licensed program outside of the U.S., the European Union and Asia, a percentage of such non-royalty sublicense revenues ranging from 30% to 50%. The Company is also obligated to share 50% of royalties that the Company receives from sublicensees that it receives in these territories. The Company’s royalty payment obligations (including with respect to royalties on sales by sublicensees) under the collaboration agreement with respect to a product in a country will expire on a product-by-product and country-by-country basis on the later of (i) expiration of the last-to-expire valid claim of the Aurigene patents covering the manufacture, use or sale of such product in such country and (ii) 10 years from the first commercial sale of such product in such country. Term and Termination. The collaboration agreement may be terminated, either in its entirety or with respect to a particular program, by either Aurigene or the Company for uncured material breach by the other party, other than an uncured material breach by the other party of its diligence obligations with respect to a program or licensed program. If an uncured material breach other than a diligence breach relates to a particular program or licensed program, the non-breaching party may terminate the collaboration agreement only with respect to that program or licensed program. However, after initiation of the first pivotal clinical trial of a product for a licensed program, Aurigene may not terminate the collaboration agreement with respect to such licensed program for an uncured non diligence breach by the Company, except in the case of the Company’s uncured material breach of its payment obligations with respect to such licensed program, but Aurigene may pursue any and all remedies that may be available to it at law or in equity as a result of such breach. Similarly, after initiation of the first pivotal clinical trial of a product for a licensed program, the Company may not terminate the collaboration agreement with respect to the license the Company has granted Aurigene for the its territory or India and Russia for such licensed program for an uncured non diligence breach by Aurigene, but the Company may pursue any and all remedies that may be available at law or in equity as a result of such breach. On a program-by-program basis, the Company may terminate the collaboration agreement as it relates to a program or licensed program for an uncured diligence breach by Aurigene with respect to such program or licensed program, and Aurigene may terminate the collaboration agreement as it relates to a licensed program for an uncured diligence breach by the Company with respect to such licensed program. In addition, the Company may terminate the collaboration agreement in its entirety or as it relates to a particular program or licensed program or on a country-by-country basis, for any reason or for no reason at any time upon 60 days’ prior written notice to Aurigene. In the event of termination of the collaboration agreement in its entirety before the Company has exercised the option for any program, or termination of the collaboration agreement as it relates to any program prior to exercise of the option for such program, all rights and licenses granted by either Aurigene or the Company to the other party with respect to such program under the collaboration agreement (including the option for such program) will automatically terminate. If the royalty term with respect to a product for any licensed program in any country has expired on or before any termination of the collaboration agreement in its entirety or as to such licensed program, the license granted by Aurigene to the Company with respect to such product in such country, as well as the corresponding license granted to Aurigene in its territory, shall survive such termination of the collaboration agreement. Solely in the event of termination of the collaboration agreement by Aurigene for the Company’s uncured breach, or the Company’s termination of the collaboration agreement for convenience, the following will apply to any program that was a licensed program immediately prior to such termination: • the Company’s license with respect to any licensed program that is not a terminated program (defined below), either in the Company’s entire territory or in countries within our territory outside of the terminated region (defined below), as applicable, shall continue in full force and effect, subject to all terms and conditions of the collaboration agreement, including the Company’s payment obligations; • the Company’s license with respect to any terminated program, either in the Company’s entire territory or in the terminated region, as applicable, shall terminate and revert to Aurigene; • the Company will grant Aurigene a perpetual, royalty-free (except for pass-through royalties and milestone payments payable by the Company under licenses to third party patent rights with respect to products developed or commercialized by or on behalf of Aurigene) license, with the right to sublicense, under the Company’s relevant patent rights and other technology solely to develop, manufacture and commercialize compounds and products for any terminated program, either in the Company’s entire territory or in the terminated region, as applicable. The foregoing license will be non-exclusive with respect to the Company’s patent rights and exclusive with respect to its other technology; • the Company will grant to Aurigene a right of first negotiation, exercisable within 90 days after termination, to obtain an exclusive, royalty-bearing license, with the right to sublicense, under our relevant patent rights solely to develop, manufacture and commercialize compounds and products for any terminated program, either in the Company’s entire territory or in the terminated region, as applicable, upon commercially reasonable terms and conditions to be negotiated in good faith by the parties; • the Company will perform other specified activities and actions reasonably necessary for Aurigene to develop, manufacture and commercialize compounds and products for any terminated program, either in the Company’s entire territory or in the terminated region, as applicable; and • the applicable license to Aurigene will survive termination. For purposes of the foregoing, “terminated program” means: (i) in the case of termination of the collaboration agreement in its entirety by Aurigene for our uncured non diligence breach, any program that was a licensed program immediately prior to such termination, but excluding, except in the case of our uncured material breach of the Company’s payment obligations with respect to such licensed program, any such licensed program for which initiation of the first pivotal clinical trial of a product has occurred prior to such termination; (ii) in the case of any termination of the collaboration agreement as to a particular licensed program by Aurigene either for the Company’s uncured non diligence breach (to the extent termination as to such licensed program is permitted) or our uncured diligence breach, such licensed program; (iii) in the case of the Company’s termination of the collaboration agreement in its entirety for convenience, any program that was a licensed program immediately prior to such termination; or (iv) in the case of the Company’s termination of the collaboration agreement as to a particular licensed program for convenience, such licensed program; provided, however, that, in the case of the preceding clauses (iii) and (iv), if the Company’s termination of the collaboration agreement in its entirety or as to a particular licensed program for convenience was with respect only to a particular country or subset of countries within the entire territory (as applicable, a “terminated region”), the applicable licensed program(s) shall be considered “terminated program(s)” only in the terminated region but shall remain licensed program(s) in the rest of the Company’s territory. Accounting Summary. In April 2015, the Company selected a third program under this collaboration which triggered a payment of $2,000,000 to Aurigene. As a result, the Company recognized $2,000,000 as research and development expenses within its Consolidated Statement of Operations and Comprehensive Loss for the three and six months ended June 30, 2015. (c) Debiopharm International S.A. Termination and Transition Agreement In February 2015, the Company entered into a termination and transition agreement with Debiopharm International S.A., or Debiopharm to terminate the August 5, 2009 license agreement between the Company and Debiopharm, under which the Company granted Debiopharm an exclusive, worldwide license to Debio 0932, a small molecule inhibitor of heat shock protein 90, or HSP90, as amended. Under the terms of the termination and transition agreement, the licenses and all other rights granted by the Company related to Debio 0932 have been terminated and reverted to the Company effective as of the termination date. Debiopharm ceased enrollment in all clinical trials as of the termination date. In addition, the Company exercised its right, pursuant to the license agreement, to obtain a non-exclusive, worldwide, royalty-bearing license, with the right to sublicense, under intellectual property rights of Debiopharm to develop, make, have made, use, sell, offer for sale, have sold and import Debio 0932 and any product containing Debio 0932, and Debiopharm will transfer to the Company the U.S. investigational new drug application related to Debio 0932. Debiopharm also assigned its sole patent application related to Debio 0932 to the Company. Under the terms of the transition agreement, Debiopharm will transition ongoing Debio 0932 development and manufacturing activities to the Company and will transfer the manufacturing technology necessary for the manufacture of Debio 0932 and all data generated by or on behalf of Debiopharm relating to Debio 0932 to the Company. In February 2015, the Company agreed to make the following payments to Debiopharm under the terms of the termination and transition agreement: Up-front drug product payment. Milestone payments. (i) $3,000,000 within 30 days after the first dosing of the first patient in the first Phase 3 clinical trial of Debio 0932; and (ii) $10,000,000 within 30 days after receipt of the first marketing approval for Debio 0932 in the United States of America or any specified major European market (whichever occurs first). Royalties on the Company’s net sales. Amounts that the Company receives from sublicensees. • 10% of any royalties that the Company receives from third party sublicensees based on such sublicensees’ net sales of products containing Debio 0932; and • 15% of any non-royalty sublicense payments that the Company receives from third party sublicensees, provided that the maximum aggregate amount payable by the Company to Debiopharm with respect to non-royalty sublicense payments is $20,000,000, unless such sublicense payments are attributable to the Company’s grant to a third party sublicensee of a license or sublicense to develop or commercialize a topical formulation of Debio 0932 for local, non-systemic delivery for the treatment of psoriasis, in which case there is no such maximum aggregate. (d) The Leukemia & Lymphoma Society Agreement November 2011 Agreement. In August 2015, the Company entered into an amendment of the November 2011 agreement with LLS. Under this amendment, LLS has agreed to provide advisory services to the Company regarding CUDC-907 as well as its IRAK4 program under the Company’s collaboration with Aurigene, and LLS will no longer be obligated to make further milestone payments related to the Company’s ongoing clinical development of CUDC-907. The Company has agreed to make up to $1,650,000 in future payments to LLS pursuant to certain objectives, including a licensing, sale or other similar transaction, as well as regulatory and commercial objectives, in each case related to the CUDC-907

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements The Company discloses fair value measurements based on a framework outlined by GAAP which requires expanded disclosures regarding fair value measurements. GAAP also defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. The Financial Accounting Standards Board, or FASB, Codification Topic 820, Fair Value Measurements and Disclosures, Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices, 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. The Company’s warrant liability was valued using a probability-weighted Black-Scholes model, discussed further in Note 8, and is therefore classified as Level 3. In accordance with the fair value hierarchy, the following table shows the fair value as of June 30, 2015 and December 31, 2014 of those financial assets and liabilities that are measured at fair value on a recurring basis, according to the valuation techniques the Company used to determine their fair value. No financial assets or liabilities are measured at fair value on a nonrecurring basis at June 30, 2015 and December 31, 2014. Quoted Prices in Other Observable (Level 2) Unobservable Fair Value As of June 30, 2015: Cash equivalents: Money market funds $ 15,680,973 $ — $ — $ 15,680,973 Municipal bonds — 1,015,000 — 1,015,000 Corporate commercial paper, stock, bonds and notes 3,854,920 8,634,751 — 12,489,671 Short-term investments: Corporate commercial paper, stock, bonds and notes 41,109,338 26,591,717 — 67,701,055 Total assets at fair value $ 60,645,231 $ 36,241,468 $ — $ 96,886,699 Quoted Prices in Other Observable Unobservable Fair Value As of December 31, 2014: Cash equivalents: Money market funds $ 4,419,894 $ — $ — $ 4,419,894 Municipal bonds — 1,090,000 — 1,090,000 Short- and long-term investments: Corporate commercial paper, stock, bonds and notes 40,091,800 2,699,750 — 42,791,550 Total assets at fair value $ 44,511,694 $ 3,789,750 $ — $ 48,301,444 During the six months ended June 30, 2015, one investment with a fair value of $500,112 at June 30, 2015 was transferred from Level 1 to Level 2.

Investments

Investments	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	6. Investments The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of June 30, 2015 are as follows: Amortized Cost Unrealized Gain Unrealized Loss Fair Value Corporate bonds and notes – short-term $ 67,700,757 $ 17,714 $ (17,416 ) $ 67,701,055 Total investments $ 67,700,757 $ 17,714 $ (17,416 ) $ 67,701,055 Short-term investments have maturities ranging from one and twelve months with a weighted average maturity of 4 months at June 30, 2015. The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2014 are as follows: Amortized Cost Unrealized Gain Unrealized Loss Fair Value Corporate bonds and notes – short-term $ 42,011,286 $ 4,883 $ (13,387 ) $ 42,002,782 Corporate bonds and notes – long-term 791,261 — (2,493 ) 788,768 Total investments $ 42,802,547 $ 4,883 $ (15,880 ) $ 42,791,550 Short-term investments have maturities ranging from one and twelve months with a weighted average maturity of 4.1 months at December 31, 2014. Long-term investments have maturities ranging from January 2016 to May 2016 with a weighted average maturity of 13.8 months.

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	7. Debt In December 2012, Curis’ wholly-owned subsidiary, Curis Royalty, received a $30,000,000 loan at an annual interest rate of 12.25% pursuant to a credit agreement between Curis Royalty and BioPharma-II. In connection with the loan, Curis transferred to Curis Royalty its right to receive certain future royalty and royalty-related payments on the commercial sales of Erivedge that it may receive from Genentech. The loan and accrued interest will be repaid by Curis Royalty using such royalty and royalty-related payments. To secure repayment of the loan, Curis Royalty granted a first priority lien and security interest (subject only to permitted liens) to BioPharma-II in all of its assets and all real, intangible and personal property, including all of its right, title and interest in and to the royalty and royalty-related payments. The loan constitutes an obligation of Curis Royalty, and is intended to be non-recourse to Curis. Under the terms of the loan, quarterly royalty payments received by Curis Royalty from Genentech will first be applied to pay (i) escrow fees payable by Curis pursuant to an escrow agreement between Curis, Curis Royalty, BioPharma-II and Boston Private Bank and Trust Company, (ii) Curis’ royalty obligations to academic institutions, (iii) certain expenses incurred by BioPharma-II in connection with the credit agreement and related transaction documents, including enforcement of its rights in the case of an event of default under the credit agreement and (iv) expenses incurred by Curis enforcing its right to indemnification under the collaboration agreement with Genentech. Remaining amounts, subject to caps of $3,000,000 per quarter in 2015, will be applied first to pay interest and second, principal on the loan. Curis Royalty will be entitled to receive the remaining royalty amounts above the caps, if any, and Curis remains entitled to receive any contingent payments upon achievement of clinical development objectives. Curis Royalty retains its right to royalty payments related to sales of Erivedge following repayment of the loan. The final maturity date of the loan will be the earlier of the date when the principal is paid in full or the termination of Curis Royalty’s right to receive royalties under the collaboration agreement with Genentech. At any time after January 1, 2017, Curis Royalty may, subject to certain limitations, prepay the outstanding principal of the loan in whole or in part, at a price equal to 105% of the outstanding principal on the loan, plus accrued but unpaid interest. The obligations of Curis Royalty under the credit agreement to repay the loan may be accelerated upon the occurrence of an event of default as defined in the credit agreement. During the six month ended June 30, 2015, the Company made payments totaling $3,356,007, of which $1,677,479 has been applied to the principal portion of the debt with the remainder applied to accrued interest. As of June 30, 2015, the Company recorded short- and long-term debt of $4,846,338 and $21,790,893, respectively (net of unamortized issuance costs of $13,784 and $84,353, respectively), and at December 31, 2014, the Company recorded short- and long-term debt of $5,709,985 and $22,589,058, respectively (net of unamortized issuance costs of $38,074 and $75,729, respectively), related to the loan, with such amounts recorded within the Company’s Consolidated Balance Sheets. In addition, the Company recorded related accrued interest on the debt of $287,131 and $286,075 as of June 30, 2015 and December 31, 2014, respectively, with such amounts included in the Company’s accrued liabilities section of its Consolidated Balance Sheets. For the three and six months ended June 30, 2015, the Company recognized interest expense related to the loan with BioPharma-II of $843,369 and $1,710,314, respectively. For the three and six months ended June 30, 2014, the Company recognized interest expense related to the loan with BioPharma-II of $949,730 and $1,900,706, respectively. Because the repayment of the term loan is contingent upon the level of Erivedge royalties received, the short- and long-term classification is based on the Company’s estimate of the timing of amounts to be repaid. The Company currently estimates that the loan would be repaid in 2019; however, this estimate is impacted by numerous factors, some of which are beyond the Company’s control. Accordingly, the Company’s estimate may not be predictive of when this loan would actually be repaid. The repayment term may be shortened or extended depending on the actual level of Erivedge royalties. In addition, if Erivedge royalties are insufficient to pay the accrued interest on the outstanding loan, the unpaid interest outstanding will be added to the principal on a quarterly basis. The length of the actual repayment period could vary materially from the to the extent that royalty payments Curis Royalty receives are lower than the Company’s current estimates, which could arise due to factors beyond the Company’s control, such as due to the sale of competing products that result in a lowering of the royalty rates that Curis Royalty is entitled to receive, decreased market acceptance or a failure by Genentech and/or Roche to successfully commercialize Erivedge in territories where it has received regulatory approval. Curis Royalty is currently entitled to a royalty that escalates from 5% to 7.5% based on worldwide annual net sales of Erivedge ranging from less than $150 million to over $600 million. The royalty rate applicable to Erivedge may be decreased by 2% (such that the applicable royalty rate will range between 3% to 5.5%) in certain specified circumstances, including when a competing product that binds to the same molecular target as Erivedge is approved by the applicable regulatory authority and is being sold in such country by a third party for use in the same indication as Erivedge. In June 2015, the Committee for Medicinal Products for Human Use, or CHMP, in the European Union adopted a positive opinion, recommending the granting of a marketing authorization to Novartis Europharma’s Hedgehog pathway inhibitor Odomzo ® At June 30, 2015, the fair value of the principal portion of the debt is estimated as $27,320,000. Due to the assumptions required in estimating future Erivedge royalties, the expected repayment period and weighting of various royalty projection scenarios, determining the fair value of the debt required application of Level 3 inputs.

Common Stock and Warrant Liabil

Common Stock and Warrant Liability	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
Common Stock and Warrant Liability	8. Common Stock and Warrant Liability (a) 2015 Public Offering of Common Stock On February 25, 2015, the Company entered into an underwriting agreement with Cowen and Company, LLC, or Cowen, acting for itself and as representative of the named underwriters, relating to an underwritten public offering of 21,818,181 shares of the Company’s common stock. The offering price to the public was $2.75 per share, and the underwriters agreed to purchase the shares from the Company pursuant to the underwriting agreement at a price of $2.585 per share. Under the terms of the underwriting agreement, the Company granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 3,272,727 shares of common stock at the public offering price per share less the underwriting discounts and commissions. The underwriters exercised this option in full on February 25, 2015. On March 2, 2015, the Company completed the public offering of 25,090,908 shares of common stock. The Company received net proceeds from the sale of the shares, after deducting the underwriting discounts and commissions and estimated offering expenses, of $64,619,407. (b) 2010 Registered Direct Offering On January 27, 2010, the Company completed a registered direct offering of 6,449,288 units with each unit consisting of (i) one share of the Company’s common stock and (ii) one warrant to purchase 0.25 of one share of common stock at a purchase price of $2.52 per unit. The Company received net proceeds from the sale of the units, after deducting offering expenses, of approximately $14,942,000. In connection with this offering, the Company issued warrants to purchase an aggregate of 1,612,322 shares of common stock. As of December 31, 2014, warrants to purchase 238,805 shares of the Company’s common stock had been exercised, and warrants to purchase an aggregate of 1,373,517 shares of common stock were outstanding. All outstanding warrants expired on January 27, 2015 pursuant to the terms of the warrants. Due to the original terms, the warrants were deemed to be a liability and the Company revalued the warrants at each reporting period, with change in fair value of the warrant liability recognized in the Consolidated Statement of Operations and Comprehensive Loss. The Company recorded other income of $557,253 and $648,876 for the three and six months ended June 30, 2014, respectively. The Company did not recognize any other income or expense associated with these warrants during the three and six months ended June 30, 2015.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Accrued Liabilities	9. Accrued Liabilities Accrued liabilities consist of the following: June 30, 2015 December 31, 2014 Accrued compensation $ 1,066,732 $ 1,386,226 Professional fees 272,550 122,850 Accrued interest on debt (see Note 7) 287,131 286,075 Other 191,659 212,548 Total $ 1,818,072 $ 2,007,699

Accounting for Stock-Based Comp

Accounting for Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Accounting for Stock-Based Compensation	10. Accounting for Stock-Based Compensation As of June 30, 2015, the Company had two shareholder-approved, share-based compensation plans: (i) the Amended and Restated 2010 Stock Incentive Plan, or the 2010 Plan, adopted by the Board of Directors in March 2015 and approved by shareholders in May 2015 and (ii) the 2010 Employee Stock Purchase Plan, or the ESPP, adopted by the Board of Directors in April 2010 and approved by shareholders in June 2010. The Company can issue up to 19,000,000 shares of its common stock pursuant to awards granted under the Amended and Restated 2010 Plan. For a complete discussion of the Company’s share-based compensation plans, see Note 4, “Stock Plans and Stock Based Compensation” in the notes to the Company’s consolidated financial statements included in Item 8 of Part II of the Company’s Annual Report. As of June 30, 2015, 9,006,502 shares remained available for grant under the 2010 Plan. During the six months ended June 30, 2015, the Company’s board of directors granted options to purchase 2,501,250 shares of the Company’s common stock to officers and employees of the Company under the 2010 Plan. Of these options, 1,441,250 shares vest and become exercisable as to 25% of the shares underlying the award after the first year and as to an additional 6.25% of the shares underlying the award in each subsequent quarter, based upon continued employment over a four-year period, and are exercisable at a price equal to the closing price of the Company’s common stock on the NASDAQ Global Market on the grant dates. The Company’s board of directors granted the remaining 1,060,000 shares of the Company’s common stock to its officers in February 2015. Such stock options have an exercise price equal to $2.39 per share, the closing price of the Company’s common stock on the NASDAQ Global Market on the date of grant, and will vest and become exercisable as to 25% of the shares underlying the award after the first year and as to an additional 6.25% of the shares underlying the award in each subsequent quarter, based upon continued employment over a four-year period; provided that such awards will terminate and be forfeited if the Company’s stockholders did not approve an amendment to the 2010 Plan to increase the number of shares authorized for issuance thereunder within 12 months of the grant date; and further provided that such options shall not be exercisable and no common stock shall be issued thereunder, before the approval of such stock incentive plan amendment by the Company’s stockholders. As mentioned above, the shareholders approved such amendment in May 2015 and options to purchase an aggregate of 1,060,000 shares of common stock were awarded to the Company’s officers. During the six months ended June 30, 2015, the Company’s board of directors also granted options to its non-employee directors to purchase 260,000 shares of common stock under the 2010 Plan, which will vest and become exercisable in equal monthly installments over a period of one year from the date of grant. These options were granted at an exercise prices price of $1.94 per share, which equals to the closing market price of the Company’s common stock on the NASDAQ Global Market on the grant date. Employee and Director Grants Vesting Tied to Service Conditions In determining the fair value of stock options, the Company generally uses the Black-Scholes option pricing model. As discussed below, for employee stock options with market performance conditions, the Company uses a Monte Carlo simulation valuation model. The Black-Scholes option pricing model employs the following key assumptions for employee and director options awarded during the six months ended June 30, 2015 and 2014 based on the assumptions noted in the following table: Six Months Ended June 30, 2015 2014 Expected life (years) - employees 6 6 Expected life (years) – officers and directors 7 7 Risk-free interest rate 1.5-1.9 % 1.85-2.2 % Volatility 68-70 % 70-71 % Dividends None None The expected volatility is based on the annualized daily historical volatility of the Company’s stock price for a time period consistent with the expected term of each grant. Management believes that the historical volatility of the Company’s stock price best represents the future volatility of the stock price. The risk-free rate is based on the U.S. Treasury yield in effect at the time of grant for the expected term of the respective grant. The Company has not historically paid cash dividends, and does not expect to pay cash dividends in the foreseeable future. The stock price volatility and expected terms utilized in the calculation involve management’s best estimates at that time, both of which impact the fair value of the option calculated under the Black-Scholes methodology and, ultimately, the expense that will be recognized over the life of the option. GAAP also requires that the Company recognize compensation expense for only the portion of options that are expected to vest. Therefore, management calculated an estimated annual pre-vesting forfeiture rate that is derived from historical employee termination behavior since the inception of the Company, as adjusted. If the actual number of forfeitures differs from those estimated by management, additional adjustments to compensation expense may be required in future periods. The aggregate intrinsic value of employee options outstanding at June 30, 2015 was $12,435,000, of which $8,319,000 related to exercisable options. The weighted average grant-date fair values of these stock options granted during the six months ended June 30, 2015 and 2014 were $1.71 and $1.82, respectively, excluding those stock options that include market conditions granted in February 2014 discussed below. As of June 30, 2015, there was approximately $7,446,000, net of the impact of estimated forfeitures, of unrecognized compensation cost related to unvested employee stock option awards outstanding under the Company’s 2010 Plan that is expected to be recognized as expense over a weighted average period of 2.71 years. The intrinsic values of employee stock options exercised during the six months ended June 30, 2015 and 2014 was $75,000 and $105,000, respectively. Vesting Tied to Market Conditions Monte Carlo simulation models were used to value stock options to purchase an aggregate of 1,040,000 shares of common stock granted to the Company’s officers during the year ended December 31, 2014. Of this amount, options to purchase 640,000 shares of common stock were granted in February 2014 with an exercise price of $3.09 and options to purchase 400,000 shares of common stock were granted in June 2014 with an exercise price of $1.75 per share that contained specific market conditions. The key assumptions used in these Monte Carlo simulation models and resulting valuations are noted in the following table: Market Condition Options Granted February 18, 2014 Market Condition Options Granted June 2, 2014 Expected life (years)—officers 6 6 Risk-free interest rate 1.9 % 2.1 % Volatility 70 % 65 % Dividends None None Number of options granted 640,000 400,000 Fair value per share $ 1.20 $ 0.34 Based on the above, the Monte Carlo simulation models calculated an aggregate fair value of $905,000, excluding forfeitures, related to these grants that are being recognized on a straight-line basis over the estimated vesting periods of the separate tranches. These awards accounted for $120,828 and $241,655 of the employee stock-based compensation expense recorded by the Company for the three and six months ended June 30, 2015, respectively, and $108,366 and $156,377 of the employee stock-based compensation expense recorded by the Company for the three and six months ended June 30, 2014. As of June 30, 2015, none of the options with market conditions had vested. Employee Stock-Based Compensation Expense The Company recorded $895,126 and $1,726,073 in compensation expense for the three and six months ended June 30, 2015, respectively, and $794,255 and $1,482,027 in compensation expense for the three and six months ended June 30, 2014, respectively, related to employee and director stock option grants. The total fair values of vested stock options for the six months ended June 30, 2015 and 2014 were $1,529,000 and $1,376,000, respectively. Non-Employee Grants The Company has periodically granted stock options to consultants for services, pursuant to the Company’s stock plans at the fair market value on the respective dates of grant. Should the Company terminate any of its consulting agreements, the unvested options underlying the agreements would also be cancelled. The Company recognized expense related to non-employee stock options of $127,470 and $247,628 during the three and six months ended June 30, 2015, respectively, and reversed expense of $110,434 and $54,762, for the three and six months ended June 30, 2014, respectively. Total Stock-Based Compensation Expense For the three and six months ended June 30, 2015 and 2014, the Company recorded employee and non-employee stock-based compensation expense to the following line items in its Costs and Expenses section of the Consolidated Statements of Operations and Comprehensive Loss, including expense related to its ESPP: For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 Research and development expenses $ 313,713 $ 108,803 $ 601,491 $ 300,748 General and administrative expenses 708,885 575,018 1,372,210 1,126,517 Total stock-based compensation expense $ 1,022,598 $ 683,821 $ 1,973,701 $ 1,427,265

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	11. Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss) as of June 30, 2015 and 2014: Unrealized Losses on Securities Available-for-Sale Balance, as of December 31, 2014 $ (10,997 ) Other comprehensive gain before reclassifications 9,420 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive loss 9,420 Balance, as of June 30, 2015 $ (1,577 ) Unrealized Losses on Securities Available-for-Sale Balance, as of December 31, 2013 $ (6,984 ) Other comprehensive gain before reclassifications 14,385 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive loss 14,385 Balance, as of June 30, 2014 $ 7,401 The above amounts do not reflect a tax effect because the Company expects to record a net loss for 2015.

Loss Per Common Share

Loss Per Common Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Loss Per Common Share	12. Loss Per Common Share The Company applies ASC Topic 260 - Earnings per Share For the June 30, 2015 For the June 30, 2014 Stock options outstanding 13,552,649 11,389,869 Warrants outstanding — 1,373,517 Total antidilutive securities 13,552,649 12,763,386

Related Party Transaction

Related Party Transaction	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transaction	13. Related Party Transaction On June 2, 2014, Daniel R. Passeri resigned as Chief Executive Officer of the Company and the Company and Mr. Passeri entered into a consulting agreement. The agreement was for an initial term of one year, subject to renewal or earlier termination by the parties. Pursuant to the terms of the consulting agreement, Mr. Passeri agreed to provide 120 hours per month of consulting services to the Company on intellectual property, corporate and strategic matters. In consideration for the services rendered by Mr. Passeri to the Company, the Company agreed to pay Mr. Passeri $32,500 per month until June 1, 2015, provided that if at any time during the consultation period Mr. Passeri obtained full time employment with a third party, then Mr. Passeri and the Company would negotiate a good faith reduction in the number of hours that Mr. Passeri would consult, and thereafter Mr. Passeri would be paid an hourly fee, in lieu of the monthly retainer, for services rendered under the consulting agreement. On December 1, 2014, Mr. Passeri obtained full time employment with a third party. From December 1, 2014 through June 30, 2015, Mr. Passeri was compensated an hourly fee in lieu of a monthly retainer for services rendered to the company. Pursuant to the terms of the consulting agreement, the Company recognized expenses of $17,100 and $30,333 during the six month periods ending June 30, 2015 and 2014, respectively, under the consulting agreement. On June 1, 2015, the Company and Mr. Passeri renewed the agreement for a period of six months. On June 30, 2015, Mr. Passeri resigned from his full-time employment with a third party and, thereafter, the Company requested that Mr. Passeri begin providing 120 hours per month of consulting services for the remainder of the consulting term in exchange for monthly payments of $30,000.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	14. Recently Issued Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) updated the guidance related to the presentation of debt issuance costs. The new standard requires debt issuance costs, related to a recognized debt liability, be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. The update requires the guidance to be applied retrospectively. The update is effective for fiscal years beginning after December 15, 2015 and the Company does not expect adoption of this guidance will have a material impact on its financial statements. In January 2015, the FASB issued new guidance to eliminate the concept of extraordinary items as part of its initiative to reduce complexity in accounting standards. The guidance is effective for annual and interim periods beginning after December 15, 2015 and may be applied prospectively or retrospectively. The Company does not expect adoption of this standard will have a material impact on its financial statements. In May 2014, the FASB issued new revenue recognition guidance which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. The new standard also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The guidance is currently effective for the Company in 2018. Early adoption is permitted in 2017. The Company is currently evaluating the impact the standard will have on its consolidated financial statements.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events 2015 Sales Agreement On July 2, 2015, the Company entered into a sales agreement with Cowen, pursuant to which the Company may sell from time to time up to $30,000,000 of the Company’s common stock through an “at-the-market” equity offering program under which Cowen will act as sales agent. Subject to the terms and conditions of the sales agreement, Cowen may sell the common stock by methods deemed to be an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made directly on the NASDAQ Global Market, on any other existing trading market for the common stock or to or through a market maker other than on an exchange. In addition, with the Company’s prior written approval, Cowen may also sell the common stock by any other method permitted by law, including in negotiated transactions. Cowen will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the NASDAQ Global Market to sell on the Company’s behalf all of the shares requested to be sold by the Company. The Company has no obligation to sell any of the common stock under the sales agreement. Either the Company or Cowen may at any time suspend solicitations and offers under the sales agreement upon notice to the other party. The sales agreement may be terminated at any time by either the Company or Cowen upon written notice to the other party as specified in the sales agreement. The aggregate compensation payable to Cowen shall be 3% of the gross sales price of the common stock sold by Cowen pursuant to the sales agreement. In addition, the Company has agreed to reimburse a portion of the expenses of Cowen in connection with the offering up to a maximum of $30,000. Each party has agreed in the sales agreement to provide indemnification and contribution against certain liabilities, including liabilities under the Securities Act, subject to the terms of the sales agreement. The Shares to be sold under the Sales Agreement, if any, may be issued and sold pursuant to the universal shelf registration statement on Form S-3 that the Company filed with the Securities and Exchange Commission on July 2, 2015, after such time as the Registration Statement is declared effective by the SEC.

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Fair Value Measurements and Disclosures	The Financial Accounting Standards Board, or FASB, Codification Topic 820, Fair Value Measurements and Disclosures, Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices, 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. The Company’s warrant liability was valued using a probability-weighted Black-Scholes model, discussed further in Note 8, and is therefore classified as Level 3.
Accounting for Stock-Based Compensation	As of June 30, 2015, the Company had two shareholder-approved, share-based compensation plans: (i) the Amended and Restated 2010 Stock Incentive Plan, or the 2010 Plan, adopted by the Board of Directors in March 2015 and approved by shareholders in May 2015 and (ii) the 2010 Employee Stock Purchase Plan, or the ESPP, adopted by the Board of Directors in April 2010 and approved by shareholders in June 2010. The Company can issue up to 19,000,000 shares of its common stock pursuant to awards granted under the Amended and Restated 2010 Plan. For a complete discussion of the Company’s share-based compensation plans, see Note 4, “Stock Plans and Stock Based Compensation” in the notes to the Company’s consolidated financial statements included in Item 8 of Part II of the Company’s Annual Report. As of June 30, 2015, 9,006,502 shares remained available for grant under the 2010 Plan.
Earnings Per Share	The Company applies ASC Topic 260 - Earnings per Share

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets or Liabilities Measured at Fair Value on Recurring Basis	In accordance with the fair value hierarchy, the following table shows the fair value as of June 30, 2015 and December 31, 2014 of those financial assets and liabilities that are measured at fair value on a recurring basis, according to the valuation techniques the Company used to determine their fair value. No financial assets or liabilities are measured at fair value on a nonrecurring basis at June 30, 2015 and December 31, 2014. Quoted Prices in Other Observable (Level 2) Unobservable Fair Value As of June 30, 2015: Cash equivalents: Money market funds $ 15,680,973 $ — $ — $ 15,680,973 Municipal bonds — 1,015,000 — 1,015,000 Corporate commercial paper, stock, bonds and notes 3,854,920 8,634,751 — 12,489,671 Short-term investments: Corporate commercial paper, stock, bonds and notes 41,109,338 26,591,717 — 67,701,055 Total assets at fair value $ 60,645,231 $ 36,241,468 $ — $ 96,886,699 Quoted Prices in Other Observable Unobservable Fair Value As of December 31, 2014: Cash equivalents: Money market funds $ 4,419,894 $ — $ — $ 4,419,894 Municipal bonds — 1,090,000 — 1,090,000 Short- and long-term investments: Corporate commercial paper, stock, bonds and notes 40,091,800 2,699,750 — 42,791,550 Total assets at fair value $ 44,511,694 $ 3,789,750 $ — $ 48,301,444

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Summary of Amortized Cost, Unrealized Gains and Fair Value of Short-term Investments	The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of June 30, 2015 are as follows: Amortized Cost Unrealized Gain Unrealized Loss Fair Value Corporate bonds and notes – short-term $ 67,700,757 $ 17,714 $ (17,416 ) $ 67,701,055 Total investments $ 67,700,757 $ 17,714 $ (17,416 ) $ 67,701,055 Short-term investments have maturities ranging from one and twelve months with a weighted average maturity of 4 months at June 30, 2015. The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2014 are as follows: Amortized Cost Unrealized Gain Unrealized Loss Fair Value Corporate bonds and notes – short-term $ 42,011,286 $ 4,883 $ (13,387 ) $ 42,002,782 Corporate bonds and notes – long-term 791,261 — (2,493 ) 788,768 Total investments $ 42,802,547 $ 4,883 $ (15,880 ) $ 42,791,550

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Accrued Liabilities	Accrued liabilities consist of the following: June 30, 2015 December 31, 2014 Accrued compensation $ 1,066,732 $ 1,386,226 Professional fees 272,550 122,850 Accrued interest on debt (see Note 7) 287,131 286,075 Other 191,659 212,548 Total $ 1,818,072 $ 2,007,699

Accounting for Stock-Based Co25

Accounting for Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Employee and Non-Employee Share Based Compensation Expense Allocation	For the three and six months ended June 30, 2015 and 2014, the Company recorded employee and non-employee stock-based compensation expense to the following line items in its Costs and Expenses section of the Consolidated Statements of Operations and Comprehensive Loss, including expense related to its ESPP: For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 Research and development expenses $ 313,713 $ 108,803 $ 601,491 $ 300,748 General and administrative expenses 708,885 575,018 1,372,210 1,126,517 Total stock-based compensation expense $ 1,022,598 $ 683,821 $ 1,973,701 $ 1,427,265
Vesting Tied to Market Conditions [Member]
Valuation Assumptions Used to Calculate Fair Value of Employee Options Awarded	Monte Carlo simulation models were used to value stock options to purchase an aggregate of 1,040,000 shares of common stock granted to the Company’s officers during the year ended December 31, 2014. Of this amount, options to purchase 640,000 shares of common stock were granted in February 2014 with an exercise price of $3.09 and options to purchase 400,000 shares of common stock were granted in June 2014 with an exercise price of $1.75 per share that contained specific market conditions. The key assumptions used in these Monte Carlo simulation models and resulting valuations are noted in the following table: Market Condition Options Granted February 18, 2014 Market Condition Options Granted June 2, 2014 Expected life (years)—officers 6 6 Risk-free interest rate 1.9 % 2.1 % Volatility 70 % 65 % Dividends None None Number of options granted 640,000 400,000 Fair value per share $ 1.20 $ 0.34
Vesting Tied to Service Conditions [Member]
Valuation Assumptions Used to Calculate Fair Value of Employee Options Awarded	As discussed below, for employee stock options with market performance conditions, the Company uses a Monte Carlo simulation valuation model. The Black-Scholes option pricing model employs the following key assumptions for employee and director options awarded during the six months ended June 30, 2015 and 2014 based on the assumptions noted in the following table: Six Months Ended June 30, 2015 2014 Expected life (years) - employees 6 6 Expected life (years) – officers and directors 7 7 Risk-free interest rate 1.5-1.9 % 1.85-2.2 % Volatility 68-70 % 70-71 % Dividends None None

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (loss) as of June 30, 2015 and 2014: Unrealized Losses on Securities Available-for-Sale Balance, as of December 31, 2014 $ (10,997 ) Other comprehensive gain before reclassifications 9,420 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive loss 9,420 Balance, as of June 30, 2015 $ (1,577 ) Unrealized Losses on Securities Available-for-Sale Balance, as of December 31, 2013 $ (6,984 ) Other comprehensive gain before reclassifications 14,385 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive loss 14,385 Balance, as of June 30, 2014 $ 7,401

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Antidilutive Securities Consist of Stock Options and Warrants	Antidilutive securities consist of stock options and warrants outstanding as of the respective reporting period as follows: For the June 30, 2015 For the June 30, 2014 Stock options outstanding 13,552,649 11,389,869 Warrants outstanding — 1,373,517 Total antidilutive securities 13,552,649 12,763,386

Nature of Business - Additional

Nature of Business - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015Segment
Nature Of Business [Abstract]
Reportable segments	1

Collaboration Agreements - Addi

Collaboration Agreements - Additional Information (Detail) - USD ($)	1 Months Ended					3 Months Ended		6 Months Ended
	Apr. 30, 2015	Feb. 28, 2015	Jan. 31, 2015	Jun. 30, 2014	Nov. 30, 2011	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jan. 20, 2015
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
License fees							$ 3,000,000		$ 3,000,000
Research and development						$ 2,000,000		$ 2,000,000
Percentage of royalty on net sales		3.00%
Recognized royalty revenue						2,033,836	1,823,935	3,704,906	3,112,183
Cost of royalty revenues						$ 102,972	91,837	$ 187,064	156,985
Term of the collaboration agreement								The term of the collaboration agreement begins upon signing and, unless earlier terminated, will expire upon either (i) 90 days after the completion by Aurigene of its obligations under all research plans if the Company has not exercised the option with respect to at least one program by such time; or (ii) expiration of the last-to-expire royalty term for any and all products.
In-process research and development expense								$ 24,347,815
Up-front drug product payment								$ 750,000
Milestone payments term								The Company has agreed to make each of the following one-time payments to Debiopharm (i) $3,000,000 within 30 days after the first dosing of the first patient in the first Phase 3 clinical trial of Debio 0932; and (ii) $10,000,000 within 30 days after receipt of the first marketing approval for Debio 0932 in the United States of America or any specified major European market (whichever occurs first).
Royalties receives from third party		10.00%
Percentage of non-royalty sublicense payments		15.00%
Non-royalty sublicense payments		$ 20,000,000
United States of America [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
One-time payments								$ 10,000,000
Major Specified European Market [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
One-time payments								$ 10,000,000
Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, cash payment			$ 379,632
Common stock issued, share			17,120,131
Royalty percentage						10.00%		10.00%
Percentage of non-royalty sublicensee revenues and royalties receives from sublicensees						50.00%		50.00%
Percentage of royalty obligated to share						50.00%		50.00%
Royalty payment period			10 years
Common stock issued, value			$ 23,968,183
Common stock issued, price per share										$ 1.40
In-process research and development expense								$ 24,347,815
Maximum [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of royalty on net sales								10.00%
Percentage of contribution						50.00%		50.00%
Percentage of non-royalty sublicense revenues						50.00%		50.00%
Minimum [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of non-royalty sublicense revenues						30.00%		30.00%
Genentech Inc [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amount received for specified clinical development and regulatory objectives						$ 59,000,000		$ 59,000,000
Earned milestone payment				$ 3,000,000		0		0
License fees							3,000,000		3,000,000
Research and development						45,630	54,153	114,405	139,583
Recognized royalty revenue						2,033,836	1,823,935	3,704,906	3,112,183
Cost of royalty revenues						$ 102,972	$ 91,837	$ 187,064	$ 156,985
Percentage of royalties earned						5.00%	5.00%	5.00%	5.00%
Research and development revenue						$ 80,938	$ 31,376	$ 136,724	$ 71,237
Genentech Inc [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, cash payment						$ 115,000,000		$ 115,000,000
Percentage of royalty on net sales								7.50%
Royalty percentage						5.50%		5.50%
Genentech Inc [Member] | Minimum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of royalty on net sales								5.00%
Royalty percentage						3.00%		3.00%
Program One [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, approval and commercial milestones			10,000,000
Program One [Member] | Maximum [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program			52,500,000
Program Two [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, approval and commercial milestones			10,000,000
Program Two [Member] | Maximum [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program			52,500,000
Program Three [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, approval and commercial milestones			7,500,000
Collaboration agreement payment	$ 2,000,000
Program Three [Member] | Maximum [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program			50,000,000
Program Four [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, approval and commercial milestones			7,500,000
Program Four [Member] | Maximum [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program			50,000,000
Program Thereafter [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, approval and commercial milestones			53,000,000
Program Thereafter [Member] | Maximum [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program			$ 140,500,000
Clinical Study Phase 2 [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of amount received from sublicensees						25.00%		25.00%
First Pivotal Study [Member] | Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of amount received from sublicensees						15.00%		15.00%
Leukemia and Lymphoma Society [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Earned milestone payment					$ 1,650,000
Contribution of fund from LLS amount						$ 0	0	$ 0	0
Maximum agreed future payments								1,650,000
Leukemia and Lymphoma Society [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Contribution of fund from LLS amount					$ 4,000,000
Phase 3 Clinical Trial [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
One-time payments								$ 3,000,000
University Licensors [Member] | Genentech Inc [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Research and development							$ 150,000		$ 150,000

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Assets measured at fair value on a nonrecurring basis	$ 0	$ 0
Liabilities measured at fair value on a nonrecurring basis	0	$ 0
Fair value of investment transferred from level 1 to level 2	$ 500,112

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets or Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value Measurements Recurring [Member] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 96,886,699	$ 48,301,444
Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	15,680,973	4,419,894
Municipal bonds	1,015,000	1,090,000
Corporate commercial paper, stock, bonds and notes	12,489,671
Short-and Long-term Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, stock, bonds and notes		42,791,550
Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	60,645,231	44,511,694
Quoted Prices in Active Markets (Level 1) [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	15,680,973	4,419,894
Corporate commercial paper, stock, bonds and notes	3,854,920
Quoted Prices in Active Markets (Level 1) [Member] | Short-and Long-term Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, stock, bonds and notes		40,091,800
Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	36,241,468	3,789,750
Other Observable Inputs (Level 2) [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Municipal bonds	1,015,000	1,090,000
Corporate commercial paper, stock, bonds and notes	8,634,751
Other Observable Inputs (Level 2) [Member] | Short-and Long-term Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, stock, bonds and notes		$ 2,699,750
Short-term Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, stock, bonds and notes	67,701,055
Short-term Investments [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, stock, bonds and notes	41,109,338
Short-term Investments [Member] | Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, stock, bonds and notes	$ 26,591,717

Investments - Summary of Amorti

Investments - Summary of Amortized Cost, Unrealized Gains and Fair Value of Short-term Investments (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 67,700,757	$ 42,802,547
Unrealized Gain	17,714	4,883
Unrealized Loss	(17,416)	(15,880)
Fair Value	67,701,055	42,791,550
Corporate Bonds and Notes [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	67,700,757	42,011,286
Unrealized Gain	17,714	4,883
Unrealized Loss	(17,416)	(13,387)
Fair Value	$ 67,701,055	42,002,782
Corporate Bonds and Notes [Member] | Long-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		791,261
Unrealized Loss		(2,493)
Fair Value		$ 788,768

Investments - Additional Inform

Investments - Additional Information (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities weighted average maturity	4 months	4 months 3 days
Long-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities weighted average maturity		13 months 24 days
Minimum [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities maturity period range	1 month	1 month
Minimum [Member] | Long-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities maturity period range		2016-01
Maximum [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities maturity period range	12 months	12 months
Maximum [Member] | Long-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities maturity period range		2016-05

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2012
Debt Instrument [Line Items]
Payment towards debt obligations				$ 1,677,479
Current portion of long-term debt, net		$ 4,846,338		4,846,338		$ 5,709,985
Long-term debt, net		21,790,893		21,790,893		22,589,058
Interest expense recognized related to loan		843,369	$ 949,730	$ 1,710,314	$ 1,900,706
Percentage of royalty on net sales	3.00%
Estimated loan repayment period				2,019
Credit Agreement with BioPharma-II [Member]
Debt Instrument [Line Items]
Payment towards debt obligations				$ 3,356,007
Debt issue costs, current		13,784		13,784		38,074
Debt issue costs, long-term		84,353		84,353		75,729
Interest expense recognized related to loan		843,369	$ 949,730	1,710,314	$ 1,900,706
Principal Portion [Member] | Credit Agreement with BioPharma-II [Member]
Debt Instrument [Line Items]
Payment towards debt obligations				1,677,479
Curis Royalty [Member] | Credit Agreement with BioPharma-II [Member]
Debt Instrument [Line Items]
Principal loan amount to Curis Royalty given by BioPharma under credit agreement							$ 30,000,000
Interest rate on loan to Curis Royalty given by BioPharma under credit agreement							12.25%
Allocation of royalty payments received towards principal and interest subject to cap		$ 3,000,000		$ 3,000,000
Percentage of loan that may be prepaid after January 01, 2017		105.00%		105.00%
Current portion of long-term debt, net		$ 4,846,338		$ 4,846,338		5,709,985
Long-term debt, net		21,790,893		21,790,893		22,589,058
Accrued interest on loan amount to Curis Royalty given by BioPharma under credit agreement				287,131		$ 286,075
Estimated fair value of principal portion of debt		$ 27,320,000		$ 27,320,000
Genentech Inc [Member]
Debt Instrument [Line Items]
Percentage of royalty rate decrease				2.00%
Genentech Inc [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage of royalty on net sales				5.00%
Royalty portion of annual worldwide net sales				$ 150,000,000
Royalty percentage		3.00%		3.00%
Genentech Inc [Member] | Maximum [Member]
Debt Instrument [Line Items]
Percentage of royalty on net sales				7.50%
Royalty portion of annual worldwide net sales				$ 600,000,000
Royalty percentage		5.50%		5.50%

Common Stock and Warrant Liab35

Common Stock and Warrant Liability - Additional Information (Detail)	Mar. 02, 2015USD ($)shares	Feb. 25, 2015$ / sharesshares	Jan. 27, 2010USD ($)$ / Stock_Unit$ / Warrantshares	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)	Dec. 31, 2014shares
Common Stock And Warrant Liability [Line Items]
Underwritten public offering of common stock, shares				129,613,751		129,613,751		87,253,657
Public offering of common stock, shares	25,090,908
Proceeds from sale of shares | $	$ 64,619,407					$ 64,619,407
Issuance of registered direct offering, units			6,449,288
Registered direct offering, number of common stock per units | $ / Stock_Unit			1
Registered direct offering, number of warrants per units | $ / Warrant			1
Direct offering purchase price per unit | $ / Stock_Unit			2.52
Proceeds from registered direct offering of units, net of issuance costs | $			$ 14,942,000
Aggregate number of shares of stock available to purchase using warrants			1,612,322
Warrants exercised								238,805
Expiration of warrants						Jan. 27, 2015
Change in fair value of warrant liability | $				$ 0	$ 557,253	$ 0	$ 648,876
Expired Warrants						1,373,517
Cowen [Member]
Common Stock And Warrant Liability [Line Items]
Shares offering to public, price per share | $ / shares		$ 2.75
Underwritten public offering of common stock, shares		21,818,181
Underwriting agreement, price per share | $ / shares		$ 2.585
Public offering of common stock, shares		3,272,727
Warrants Outstanding [Member]
Common Stock And Warrant Liability [Line Items]
Value of warrant in terms of percentage of stock | $ / Stock_Unit			0.25

Accrued Liabilities - Accrued L

Accrued Liabilities - Accrued Liabilities (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Other Liabilities Disclosure [Abstract]
Accrued compensation	$ 1,066,732	$ 1,386,226
Professional fees	272,550	122,850
Accrued interest on debt	287,131	286,075
Other	191,659	212,548
Total	$ 1,818,072	$ 2,007,699

Accounting for Stock-Based Co37

Accounting for Stock-Based Compensation - Additional Information (Detail)	Jun. 02, 2014$ / sharesshares	Feb. 18, 2014$ / sharesshares	May. 31, 2015shares	Feb. 28, 2015$ / sharesshares	Jun. 30, 2014$ / sharesshares	Feb. 28, 2014$ / sharesshares	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Plans$ / sharesshares	Jun. 30, 2014USD ($)$ / shares	Dec. 31, 2014shares
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share-based compensation, number of plans | Plans									2
Stock options granted | shares	400,000	640,000			400,000	640,000
Stock option granted, per share | $ / shares					$ 1.75	$ 3.09			$ 1.94
Aggregate intrinsic value of employee options outstanding							$ 12,435,000		$ 12,435,000
Intrinsic value of exercisable options							8,319,000		$ 8,319,000
Weighted average grant-date fair values of stock options | $ / shares	$ 0.34	$ 1.20							$ 1.71	$ 1.82
Unrecognized compensation cost, net of estimated forfeitures							7,446,000		$ 7,446,000
Intrinsic values of employee stock options exercised									75,000	$ 105,000
Options issued | shares											1,040,000
Compensation expense related to employee and director stock option grants							120,828	$ 108,366	$ 241,655	156,377
Stock option vested | shares									0
Fair values of vested stock options									$ 1,529,000	1,376,000
Non-employee compensation expense, recognized expenses							127,470		247,628
Non-employee compensation expenses								110,434		54,762
Subject to Market Conditions [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Aggregate expense for grants									905,000
Stock Options Outstanding [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Compensation expense related to employee and director stock option grants							$ 895,126	$ 794,255	$ 1,726,073	$ 1,482,027
Amended and Restated 2010 Plan [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Company's maximum shares issue pursuant to awards granted | shares							19,000,000		19,000,000
Shares available for future purchase under ESPP | shares							9,006,502		9,006,502
Share based compensation arrangement vesting period, years				4 years
Percentage of vested shares which are exercisable under stock option				25.00%
Additional percentage of vested shares which are exercisable under stock option				6.25%
Stock options granted | shares			1,060,000	1,060,000
Stock option granted, per share | $ / shares				$ 2.39
2010 Plan [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Options granted | shares									2,501,250
Stock option expected to vest | shares							1,441,250		1,441,250
Share based compensation arrangement vesting period, years									4 years
Percentage of vested shares which are exercisable under stock option									25.00%
Additional percentage of vested shares which are exercisable under stock option							6.25%		6.25%
2010 Plan [Member] | Non-Employee Directors [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Options granted | shares									260,000
Share based compensation, vesting period of 260000 options									1-year
Unrecognized compensation cost, weighted average period for recognition, years									2 years 8 months 16 days

Accounting for Stock-Based Co38

Accounting for Stock-Based Compensation - Valuation Assumptions Used to Calculate Fair Value of Employee Options Awarded (Detail) - $ / shares	Jun. 02, 2014	Feb. 18, 2014	Jun. 30, 2014	Feb. 28, 2014	Jun. 30, 2015	Jun. 30, 2014
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expected life (years)	6 years	6 years
Risk-free interest rate	2.10%	1.90%
Volatility	65.00%	70.00%
Dividends	0.00%	0.00%			0.00%	0.00%
Number of options granted	400,000	640,000	400,000	640,000
Fair value per share	$ 0.34	$ 1.20			$ 1.71	$ 1.82
Risk-free interest rate, minimum					1.50%	1.85%
Risk-free interest rate, maximum					1.90%	2.20%
Volatility, minimum					68.00%	70.00%
Volatility, maximum					70.00%	71.00%
Employees [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expected life (years)					6 years	6 years
Officers and Directors [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expected life (years)					7 years	7 years

Accounting for Stock-Based Co39

Accounting for Stock-Based Compensation - Employee and Non-Employee Share Based Compensation Expense Allocation (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	$ 1,022,598	$ 683,821	$ 1,973,701	$ 1,427,265
Research and Development Expenses [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	313,713	108,803	601,491	300,748
General and Administrative Expenses [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	$ 708,885	$ 575,018	$ 1,372,210	$ 1,126,517

Accumulated Other Comprehensi40

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, Beginning balance	$ 29,783,626
Accumulated other comprehensive income (loss), net of tax, Ending balance	80,577,001
Accumulated Net Unrealized Investment Gain (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, Beginning balance	(10,997)	$ (6,984)
Other comprehensive gain before reclassifications	9,420	14,385
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Net current period other comprehensive loss	9,420	14,385
Accumulated other comprehensive income (loss), net of tax, Ending balance	$ (1,577)	$ 7,401

Loss Per Common Share - Antidil

Loss Per Common Share - Antidilutive Securities Consist of Stock Options and Warrants (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total antidilutive securities	13,552,649	12,763,386	13,552,649	12,763,386
Stock Option [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total antidilutive securities	13,552,649	11,389,869	13,552,649	11,389,869
Warrants Outstanding [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total antidilutive securities		1,373,517		1,373,517

Related Party Transaction - Add

Related Party Transaction - Additional Information (Detail) - Mr. Passeri [Member] - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Consulting agreement date	Jun. 2, 2014
Consulting agreement term	1 year
Consulting service hours per month	120 hours
Consulting fees per month	$ 32,500
Consulting agreement end date	Jun. 1, 2015
Consulting agreement, recognized expenses	$ 17,100	$ 30,333
Renewed Agreement on June 1, 2015 [Member]
Related Party Transaction [Line Items]
Consulting agreement date	Jun. 1, 2015
Consulting agreement term	6 months
Consulting service hours per month	120 hours
Consulting fees per month	$ 30,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Jul. 02, 2015 - Subsequent Event [Member] - At The Market Agreement [Member] - Cowen [Member] - USD ($)	Total
Subsequent Event [Line Items]
Common stock commission as percentage of gross sale price per share sold	3.00%
Maximum [Member]
Subsequent Event [Line Items]
Common stock aggregate offering price	$ 30,000,000
Reimbursement of expenses from offering	$ 30,000