Curis (CRIS) 10-Q 3 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		140,549,019

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 20,671	$ 33,091
Investments	32,684	49,100
Accounts receivable	1,857	2,106
Prepaid expenses and other current assets	1,437	1,204
Total current assets	56,649	85,501
Property and equipment, net	406	278
Long-term investment – restricted	153	153
Goodwill	8,982	8,982
Other assets	3	51
Total assets	66,193	94,965
Current Liabilities:
Accounts payable	5,056	4,217
Accrued liabilities	2,324	1,934
Current portion of long-term debt, net	5,104	4,607
Total current liabilities	12,484	10,758
Long-term debt, net	15,798	19,558
Other long-term liabilities	41	139
Total liabilities	28,323	30,455
Commitments
Stockholders’ Equity:
Common stock, $0.01 par value—225,000,000 shares authorized; 141,217,276 shares issued and 139,994,430 shares outstanding at September 30, 2016; 130,213,224 shares issued and 128,990,378 shares outstanding at December 31, 2015	1,412	1,302
Additional paid-in capital	925,569	903,240
Treasury stock (at cost, 1,222,846 shares)	(1,524)	(1,524)
Accumulated deficit	(887,613)	(838,536)
Accumulated other comprehensive income	26	28
Total stockholders’ equity	37,870	64,510
Total liabilities and stockholders’ equity	$ 66,193	$ 94,965

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	225,000,000	225,000,000
Common stock, shares issued	141,217,276	130,213,224
Common stock, shares outstanding	139,994,430	128,990,378
Treasury stock, at cost (in shares)	1,222,846	1,222,846

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Royalties	$ 1,817	$ 2,293	$ 5,403	$ 5,998
Research and development, net	(58)	(248)	(238)	(212)
Total revenues	1,759	2,045	5,165	5,786
Costs and expenses:
Cost of royalty revenues	94	116	278	303
Research and development	6,781	4,001	22,431	14,658
In-process research and development	17,989	0	17,989	24,348
General and administrative	4,684	2,772	11,743	9,712
Total costs and expenses	29,548	6,889	52,441	49,021
Loss from operations	(27,789)	(4,844)	(47,276)	(43,235)
Other expense:
Interest income	101	128	325	252
Interest expense	(657)	(827)	(2,126)	(2,537)
Total other expense, net	(556)	(699)	(1,801)	(2,285)
Net loss	$ (28,345)	$ (5,543)	$ (49,077)	$ (45,520)
Net loss per common share (basic and diluted) (in dollars per share)	$ (0.21)	$ (0.04)	$ (0.38)	$ (0.37)
Weighted average common shares (basic and diluted) (in shares)	132,065,947	128,392,413	130,122,698	121,634,415
Total comprehensive loss	$ (28,376)	$ (5,488)	$ (49,079)	$ (45,456)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (49,077)	$ (45,520)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	141	123
Stock-based compensation expense	3,311	2,875
Amortization of debt issuance costs	36	44
Gain on disposal of assets	0	(17)
Non-cash interest expense on investments	83	119
Issuance of common stock in consideration for rights granted under collaboration agreement	17,989	23,968
Changes in operating assets and liabilities:
Accounts receivable	249	(357)
Prepaid expenses and other assets	(265)	(339)
Accounts payable and accrued and other liabilities	1,109	76
Total adjustments	22,653	26,492
Net cash used in operating activities	(26,424)	(19,028)
Cash flows from investing activities:
Purchase of investments	(50,485)	(95,595)
Sale of investments	66,816	73,521
Purchases of property and equipment	(269)	(48)
Decrease in restricted cash	0	14
Proceeds from sale of equipment	0	19
Net cash provided by/(used in) investing activities	16,062	(22,089)
Cash flows from financing activities:
Proceeds from issuance of common stock associated with offerings, net of issuance costs	0	64,619
Proceeds from issuance of common stock under the Company’s share-based compensation plans	1,161	203
Payments on Curis Royalty’s debt	(3,219)	(2,793)
Net cash (used in)/provided by financing activities	(2,058)	62,029
Net (decrease)/increase in cash and cash equivalents	(12,420)	20,912
Cash and cash equivalents, beginning of period	33,091	7,747
Cash and cash equivalents, end of period	$ 20,671	$ 28,659

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Curis, Inc. is a biotechnology company seeking to develop and commercialize innovative drug candidates for the treatment of 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, which is being investigated in clinical studies in patients with diffuse large B-cell lymphoma and solid tumors. 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. In September 2016, the Company entered into an amendment to this agreement, pursuant to which Aurigene received 10,208,333 shares of the Company's common stock in lieu of receiving up to $24.5 million of milestone and other payments from Curis (see Note 4(b)). The collaboration comprises multiple programs, in which Curis has the option to exclusively license each program, including data, intellectual property and compounds associated with each respective program, once a development candidate is nominated within that program. In October 2015, the Company exercised options to license the first two programs under this collaboration. The first licensed program is focused on the development of orally-available small molecule antagonists of programmed death-1 (PD1) and V-domain Ig suppressor of T-cell activation (VISTA) pathways in the immuno-oncology field. The Company has named CA-170, a programmed death ligand-1 (PDL1)/VISTA antagonist, as the development candidate from this program. The second licensed program is focused on orally-available small molecule inhibitors of Interleukin-1 receptor-associated kinase 4 (IRAK4) enzyme in the precision oncology field and the Company has named CA-4948 as the development candidate from this program. In addition, in October 2015, the Company selected a third program for further development under the collaboration, the second preclinical program within the immuno-oncology field, which is focused on evaluating small molecule antagonists of PD1 and T-cell immunoglobulin and mucin domain containing protein-3 (TIM3) pathways, including small molecules that target PDL1 and TIM3. In October 2016, the Company exercised its option to license this third program, and designated CA-327 as the development candidate. The Company is also party to a collaboration with F. Hoffmann-La Roche Ltd, or Roche, and Genentech Inc., or Genentech, a member of the Roche Group, under which Roche and Genentech are commercializing Erivedge ® (vismodegib), a first-in-class orally-administered small molecule Hedgehog signaling pathway inhibitor, in advanced basal cell carcinoma, or BCC. In addition to BCC, Roche and Genentech are separately conducting studies of Erivedge in other diseases, including in idiopathic pulmonary fibrosis and myelofibrosis. The Company’s proprietary small molecule compounds also include CUDC-427, an orally-available, small molecule antagonist of inhibitor of apoptosis, or IAP proteins, and CUDC-305, an orally-available, small molecule antagonist of Heat Shock Protein 90. 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 United States 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 risks that are specific to the Company’s business, including, but not limited to: the Company’s ability to advance and expand its research and development programs; the Company’s reliance on Aurigene to successfully discover and preclinically develop drug candidates under the parties’ collaboration agreement; 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 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 progress of drug candidates currently in its development pipeline and the magnitude of payments that it receives and makes under its current and potential future collaborations. The results of the Company’s operations may vary significantly from year to year and quarter to quarter and depend on a number of factors, including, but not limited to: the timing, outcome and cost of the Company’s preclinical studies and clinical trials for its drug candidates; 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; Roche and Genentech’s ability to successfully commercialize Erivedge; positive results in Roche and Genentech’s ongoing clinical trials. The Company anticipates that its existing cash, cash equivalents and investments at September 30, 2016 should enable it to maintain current and planned operations into the second half of 2017. The Company’s ability to continue funding its planned operations beyond this period is dependent upon, among other things, its ability to control expenses and its ability to raise additional funds through equity or debt financings, the success of its collaboration with Genentech, including its receipt of additional contingent cash payments under this collaboration, 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 such events 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	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	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, 2015 as filed with the Securities and Exchange Commission, or the SEC, on February 29, 2016 . 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 September 30, 2016 and the results of operations for the three- and nine -month periods ended September 30, 2016 and 2015 and the cash flows for the nine -month periods ended September 30, 2016 and 2015 . The condensed consolidated balance sheet at December 31, 2015 , was derived from audited annual financial statements, but does not contain all of the footnote disclosures from the annual financial statements. 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. 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	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition The Company is currently a party to a collaboration agreement with Genentech, the terms of which 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. For a complete discussion of the Company’s revenue recognition policy, see Note 2(c) included in its 2015 Annual Report on Form 10-K.

Collaboration Agreements

Collaboration Agreements	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration Agreements	Collaboration Agreements (a) Genentech, Inc. 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 Genentech’s parent company, Roche, in several other countries for the treatment of advanced BCC. Pursuant to the agreement, the Company is eligible to receive up to an aggregate of $115.0 million 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 $59.0 million as of September 30, 2016 . In addition to these payments and pursuant to the agreement, the Company is entitled to a royalty on net sales of Erivedge that ranges from 5% to 7.5% . The royalty rate applicable to Erivedge may be decreased by 2% on a country-by-country basis 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 in another country, and is being sold in such country, by a third party for use in the same indication as Erivedge, or, when there is no issued intellectual property covering Erivedge in a territory in which sales are recorded. In 2015, the FDA and the European Medicine Agency’s Committee for Medicinal Products for Human Use, or CHMP, approved another Hedgehog signaling pathway inhibitor, Odomzo ® (sonidegib), which is marketed by Novartis, for use in locally advanced BCC. Beginning in the fourth quarter of 2015 , Genentech applied the 2% royalty reduction on United States sales of Erivedge as a result of the first commercial sale of sonidegib in the United States. In December 2012, Curis formed a wholly owned subsidiary, Curis Royalty, which received a $30.0 million loan at an annual interest rate of 12.25% pursuant to a credit agreement between Curis Royalty and BioPharma-II (see Note 7). In connection with the loan, Curis transferred to Curis Royalty its right to receive royalty and royalty-related payments on the commercial sales of Erivedge that it receives from Genentech. The loan and accrued interest is being repaid by Curis Royalty using such royalty and royalty-related payments. The loan constitutes an obligation of Curis Royalty and is non-recourse to Curis. The Company recognized $1.8 million and $2.3 million in royalty revenue under the Genentech collaboration during the three months ended September 30, 2016 and 2015 , respectively, and $5.4 million and $6.0 million during the nine months ended September 30, 2016 and 2015 , respectively. The Company recorded costs of royalty revenues within the costs and expenses section of its condensed consolidated statements of operations and comprehensive loss of $0.1 million and $0.1 million during the three months ended September 30, 2016 and 2015 , respectively, and $0.3 million and $0.3 million during the nine months ended September 30, 2016 and 2015 , respectively. For each of these periods, these amounts are comprised of 5% of the 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 specified quarterly caps, until such time as the loan is fully repaid. The Company recorded research and development revenue of $0.1 million and $0.1 million during the three months ended September 30, 2016 and 2015 , respectively, and research and development revenue of $0.2 million and $0.2 million during the nine months ended September 30, 2016 and 2015 , 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 $0.1 million and $0.3 million during the three months ended September 30, 2016 and 2015 , respectively, and expenses of $0.4 million and $0.4 million during the nine months ended September 30, 2016 and 2015 , 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 Agreement In January 2015, the Company entered into an exclusive collaboration agreement with Aurigene for the discovery, development and commercialization of small molecule compounds in the areas of immuno-oncology and selected precision oncology targets. Under the collaboration agreement, Aurigene granted the Company an option to obtain exclusive, royalty-bearing licenses to relevant Aurigene technology to develop, manufacture and commercialize products containing certain of such compounds. 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, except for India and Russia. For the development, manufacture, and commercialization of compounds from a particular program and products containing such compounds in India and Russia, 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 upon exercise of the relevant option. During 2015 , the Company exercised options to license the first two programs under this collaboration, resulting in an aggregate one-time payment of $6.0 million (comprised of a $3.0 million option exercise fee for each program) by the Company to Aurigene. Effective October 2015, the Company agreed to make additional payments to Aurigene totaling up to $2.0 million for supplemental research, development and/or manufacturing activities in support of these two programs. The Company incurred and recognized $1.0 million of such costs in the three months ended December 31, 2015 , which was paid in the three months ended March 31, 2016. The remaining $1.0 million was incurred and recognized in the three months ended March 31, 2016 and paid in the three months ended June 30, 2016 . Also in 2015 , the Company selected a preclinical program for potential further development within the immuno-oncology part of the collaboration resulting in a one-time $2.0 million payment. In October 2016, the Company licensed the program and designated CA-327 as the development candidate as described in Note 1, resulting in a one-time $1.5 million payment. The Company anticipates that it will select additional programs under this collaboration in the future, and the Company intends to have the collaboration’s steering committee recommend such additional programs in order for Aurigene to initiate or continue the relevant preclinical activities described in each program’s written plan. For each option to license (as described above) exercised by the Company, the Company is obligated to use commercially reasonable efforts to develop, obtain regulatory approval for, and commercialize at least one product in each of the United States, 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. The first of such option fees will be $7.5 million , to be paid in two equal installments, and the Company currently estimates that these payments will be due in the first and third quarters of 2017. In addition, beyond the up-to five years of exclusivity described above, and subject to specified exceptions and payment by the Company of an annual exclusivity fee on a program-by-program basis, 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 acquire an exclusive 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. For each product that may be commercialized, the Company has granted Aurigene the right, subject to certain conditions, to nominate one global drug substance or drug product supplier to provide up to 50% of the total requirements in the Company’s territory. Research Payments, Option Exercise Fees and Milestone Payments. The Company has agreed to make the following research, option exercise fees and milestone payments to Aurigene: • for the PD1/VISTA and IRAK4 programs: up to $52.5 million per program, comprised of: $3.0 million for each option exercise, $3.0 million upon acceptance of each IND filing, $4.0 million upon dosing of the fifth patient in the Company’s first Phase 1 clinical trial in each program, as well as specified approval and commercial milestones, plus specified additional payments for approvals for additional indications, if any. Effective October 2015, the Company agreed to make additional payments to Aurigene totaling up to $2.0 million for supplemental research, development and/or manufacturing activities in support of these two programs. During the three months ended September 30, 2016 , the Company recognized and paid $3.0 million to Aurigene upon the acceptance of the IND filing for CA-170, a PDL1/VISTA antagonist. Since the inception of the agreement through September 30, 2016 , the Company has incurred costs totaling $11.0 million related to these programs under the collaboration; • for the third and fourth programs: up to $50.0 million per program, comprised of: $2.0 million for a program selection fee, $3.0 million for an option exercise, $2.5 million upon acceptance of an IND filing, as well as development, approval and commercial milestones, plus specified additional payments for approvals for additional indications, if any. Since the inception of the agreement through September 30, 2016 , the Company has made payments to Aurigene totaling $2.0 million related to the third program under this collaboration; and • for any program thereafter: up to $140.5 million per program, comprised of: up to a total of $53.0 million 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. As of September 30, 2016 , no payments have been made to Aurigene related to such programs under the collaboration. Amendment to Collaboration Agreement . On September 7, 2016, the Company and Aurigene entered into an amendment to the January 2015 collaboration agreement. Under the terms of the amendment, in exchange for the issuance by the Company to Aurigene of 10,208,333 shares of its common stock, Aurigene waived payment of up to a total of $24.5 million in milestones and other payments from the Company that may become due under the 2015 collaboration agreement. The following milestones and other payments have been waived: • $1.0 million payment for extended exclusivity related to the IRAK4 program; • $3.0 million payment upon acceptance of IND filing related to the IRAK4 program; • $4.0 million payment upon dosing of the fifth patient in the Company's Phase 1 clinical trial for the IRAK4 program; • $1.0 million payment for extended exclusivity related to the PD1/VISTA program; • $4.0 million payment upon dosing of the fifth patient in the Company's Phase 1 clinical trial for the PD1/VISTA program; • $1.5 million , or 50% , of the payment related to the option exercise payment of the third program; • $2.5 million payment upon acceptance of IND filing related to the third program; • $2.0 million payment for program selection fee of the fourth program; • $3.0 million payment for option exercise of the fourth program; • $2.5 million payment upon acceptance of IND filing related to the fourth program; To the extent any of these milestone or other payments described above would not otherwise be payable by Curis, e.g. in the event one or more of the listed milestone events do not occur, the Company will have the right to deduct the unused waiver amount from any one or more of the milestone payment obligations tied to achievement of commercial milestone events. The amendment also provides that upon exercise the option for the third and fourth programs, the Company will provide up to $2.0 million of additional funding for each such licensed program provided that supplemental program activities are performed by Aurigene. Accounting Summary. Under the terms of this amendment, the value of common stock issued to Aurigene equaled $18.0 million based on the closing share price of the Company’s common stock of $1.76 per share on September 6, 2016, which was the last closing price prior to execution of the amendment. As a result, the Company recognized in-process research and development expense of $18.0 million within its condensed consolidated statement of operations and comprehensive loss for the three and nine months ended September 30, 2016 in recognition of the fact that any compounds that have been and may be licensed from Aurigene are in clinical or preclinical development and will require substantial development, regulatory and marketing approval efforts in order to reach technological feasibility.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	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 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. GAAP also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: 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. In accordance with the fair value hierarchy, the following table shows the fair value as of September 30, 2016 and December 31, 2015 of those financial assets and liabilities that are measured at fair value on a recurring basis. Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value As of September 30, 2016: Cash equivalents: Money market funds $ 16,521 $ — $ — $ 16,521 Corporate commercial paper, bonds and notes — 1,250 — 1,250 Municipal bonds — 330 — 330 Short-term investments: Corporate commercial paper, stock, bonds and notes — 32,684 — 32,684 Total assets at fair value $ 16,521 $ 34,264 $ — $ 50,785 Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value As of December 31, 2015: Cash equivalents: Money market funds $ 13,568 $ — $ — $ 13,568 Corporate commercial paper, bonds and notes 2,001 7,998 — 9,999 Municipal bonds — 7,850 — 7,850 Short-term investments: Corporate commercial paper, stock, bonds and notes 2,644 46,456 — 49,100 Total assets at fair value $ 18,213 $ 62,304 $ — $ 80,517 No investments held at September 30, 2016 were transferred between levels.

Investments

Investments	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of September 30, 2016 are as follows: Amortized Cost Unrealized Gain Unrealized Loss Total Fair Value Corporate bonds and notes – short-term $ 32,657 $ 32 $ (5 ) $ 32,684 Total investments $ 32,657 $ 32 $ (5 ) $ 32,684 Short-term investments have maturities ranging from one to 12 months with a weighted-average maturity of 2.5 months at September 30, 2016 . The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2015 are as follows: Amortized Cost Unrealized Gain Unrealized Loss Total Fair Value Corporate bonds and notes – short-term $ 49,072 $ 44 $ (16 ) $ 49,100 Total investments $ 49,072 $ 44 $ (16 ) $ 49,100 Short-term investments have maturities ranging from one to 12 months with a weighted-average maturity of 4.2 months at December 31, 2015 .

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt In December 2012, Curis’ wholly owned subsidiary, Curis Royalty, received a $30.0 million 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 royalty and royalty-related payments on the commercial sales of Erivedge that it receives from Genentech (see Note 4(a)). The loan and accrued interest is being 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 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 university licensors, (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 are applied first to pay interest and second, principal on the loan. 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. Because the repayment of the term loan is contingent upon the level of Erivedge royalties received, the short- and long-term classification of the debt is based on the Company’s estimate of the timing of amounts to be repaid. The Company cannot estimate when the loan will be repaid as repayment is impacted by numerous factors, all of which are beyond the Company’s control. The repayment term may be shortened or extended depending on the actual level of Erivedge royalties received. In addition, if Erivedge royalties are insufficient to pay the accrued interest on the outstanding loan, any unpaid interest outstanding will be added to the principal on a quarterly basis. The length of the actual repayment period could vary materially 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 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. 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 nine months ended September 30, 2016 and 2015 , Curis Royalty made payments totaling $5.3 million and $5.3 million , respectively, of which $3.2 million and $2.8 million have been applied to the principal, respectively, with the remainder applied to accrued interest. As of September 30, 2016 , the Company recorded short- and long-term debt of $5.1 million and $15.8 million , respectively, and at December 31, 2015 , the Company recorded short- and long-term debt of $4.6 million and $19.6 million , respectively, related to the loan, with such amounts recorded within the Company’s condensed consolidated balance sheets. In the three months ended March 31, 2016, the Company adopted ASU No. 2015-3 , Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . In accordance with the updated standard, the Company reclassified certain of its debt issuance costs, related to the loan, from assets to a direct deduction from the carrying amount of the related debt liability. The adoption of this guidance did not impact the consolidated statement of operations and comprehensive loss and the impact to the balance sheet was not material. In addition, the Company recorded related accrued interest on the debt of $0.2 million and $0.3 million as of September 30, 2016 and December 31, 2015 , respectively, with such amounts included in the Company’s accrued liabilities section of its condensed consolidated balance sheets. For the three months ended September 30, 2016 and 2015 , the Company recognized interest expense related to the loan with BioPharma-II of $0.7 million and $0.8 million , respectively, in the condensed consolidated statement of operations and comprehensive loss. For the nine months ended September 30, 2016 and 2015 , the Company recognized interest expense related to the loan with BioPharma-II of $2.1 million and $2.5 million , respectively, in the condensed consolidated statement of operations and comprehensive loss. At September 30, 2016 , the fair value of the debt approximates its carrying value due to the expected repayment period and because the interest rate yield is near current market rate yields. Due to the assumptions required in estimating future Erivedge royalties, the expected repayment period and weighting of various royalty projection scenarios, the fair value of the debt is measured using Level 3 inputs.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2016
Other Liabilities Disclosure [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consist of the following: September 30, December 31, Accrued compensation $ 1,637 $ 1,310 Professional fees 115 123 Accrued interest on debt (Note 7) 225 252 Other 347 249 Total $ 2,324 $ 1,934

Accounting for Stock-Based Comp

Accounting for Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Accounting for Stock-Based Compensation	Accounting for Stock-Based Compensation As of September 30, 2016 , the Company had two shareholder-approved, share-based compensation plans: (i) the Amended and Restated 2010 Stock Incentive Plan, or the 2010 Plan, adopted as amended 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. During the nine months ended September 30, 2016 , the Company’s board of directors granted options to purchase a total of 4,621,225 shares of the Company’s common stock to officers and employees of the Company, both under the 2010 Plan or in the form of inducement awards pursuant to NASDAQ Marketplace Rules. These options vest 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. During the nine months ended September 30, 2016 , the Company’s board of directors also granted options to its non-employee directors to purchase 470,000 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 price of $1.76 per share, which equals 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 nine months ended September 30, 2016 and 2015 based on the assumptions noted in the following table: Nine Months Ended 2016 2015 Expected life (years) - employees 6 6 Expected life (years) – officers and directors 7 7 Risk-free interest rate 1.4-1.8% 1.5-1.9% Volatility 63-70% 68-70% 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 expected terms and stock price volatility 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. As of September 30, 2016 , there were 15,487,348 stock options outstanding. The aggregate intrinsic value of employee options outstanding at September 30, 2016 was $9.2 million , of which $3.9 million related to exercisable options. The weighted average grant-date fair values of these stock options granted during the nine months ended September 30, 2016 and 2015 were $1.08 and $1.71 , respectively. As of September 30, 2016 , there was approximately $7.1 million , net of the impact of estimated forfeitures, of unrecognized compensation cost related to unvested employee stock option awards outstanding that is expected to be recognized as expense over a weighted-average period of 2.84 years. The intrinsic value of employee stock options exercised during the nine months ended September 30, 2016 and 2015 was $0.5 million and $0.1 million , respectively. Employee Stock-Based Compensation Expense During the three months ended September 30, 2016 , Daniel Passeri resigned from his position as Vice Chairman of the Company's board of directors. In connection with the related letter agreement with the Company, the board of directors approved a modification to Mr. Passeri’s vested common stock options such that the exercise period for all such options shall be twenty-four months . As a result, $0.6 million of additional stock based compensation expense was recorded to account for this modification during the three months ended September 30, 2016 . The Company recorded a total of $1.6 million and $3.3 million in compensation expense for the three and nine months ended September 30, 2016 , respectively and $1.0 million and $2.7 million in compensation expense for the three and the nine months ended September 30, 2015 , respectively, related to employee and director stock option grants. The total fair values of vested stock options for the nine months ended September 30, 2016 and 2015 were $2.8 million and $2.1 million , 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 $0.1 million and reversed expense of less than $0.1 million during the three and nine months ended September 30, 2016 , respectively, and reversed expense of $0.1 million and recognized expense of $0.2 million during the three and nine months ended September 30, 2015 , respectively. Total Stock-Based Compensation Expense For the three and nine months ended September 30, 2016 and 2015 , the Company recorded stock-based compensation expense to the following line items in its costs and expenses section of the condensed consolidated statements of operations and comprehensive loss, including expense related to its ESPP: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Research and development expenses $ 205 $ 170 $ 531 $ 771 General and administrative expenses 1,425 731 2,780 2,104 Total stock-based compensation expense $ 1,630 $ 901 $ 3,311 $ 2,875

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss) as of September 30, 2016 and 2015 : Unrealized Gain on Securities Available-for-Sale Balance, as of December 31, 2015 $ 28 Unrealized gain on marketable securities (2 ) Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive income (2 ) Balance, as of September 30, 2016 $ 26 The above amounts do not reflect a tax effect because the Company expects to record a net loss for 2016 . Unrealized Losses and Gain on Securities Available-for-Sale Balance, as of December 31, 2014 $ (11 ) Unrealized gain on marketable securities 65 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive income 65 Balance, as of September 30, 2015 $ 54

Loss Per Common Share

Loss Per Common Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Loss Per Common Share	Loss Per Common Share Basic and diluted loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is the same as basic net loss per common share for the three and nine months ended September 30, 2016 and 2015 , because the effect of the potential common stock equivalents would be antidilutive due to the Company’s net loss position for these periods. Antidilutive securities consist only of stock options outstanding of 15,487,348 and 13,678,899 as of September 30, 2016 and 2015 , respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Consulting agreement with Daniel R. Passeri On June 2, 2014, Daniel R. Passeri resigned as Chief Executive Officer of the Company and the Company’s board of directors appointed Mr. Passeri to serve as the Vice Chairman of the board of directors. Also on June 2, 2014, 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. The agreement was renewed by the parties through May 31, 2016 , after which the agreement between Mr. Passeri and the Company was terminated. Pursuant to the terms of the agreement, Mr. Passeri was paid an hourly fee or a monthly retainer as consideration for the services rendered by Mr. Passeri to the Company. During the five months ended May 31, 2016 , Mr. Passeri provided consulting services to the Company on intellectual property, corporate and strategic matters in exchange for payments of $30,000 per month. During the nine months ended September 30, 2015 , Mr. Passeri had full-time employment with a third party and was paid an hourly fee for services rendered to the Company during this time. On September 2, 2016, the Company and Mr. Passeri entered into a letter agreement pursuant to which Mr. Passeri resigned as director and Vice Chairman of the Company's board of directors, which became effective on September 14, 2016. Pursuant to the terms of the Letter Agreement, and in recognition of his many years of service to the Company in varying roles, including as a director and Vice Chairman of the Board, and formerly as Chief Executive Officer, President, and as a consultant, the Board authorized a $250,000 recognition bonus payment to Mr. Passeri and also approved a modification to Mr. Passeri’s vested common stock options such that the exercise period for all such options shall be 24 months . Mr. Passeri agreed to provide continued assistance to the Company, without further remuneration, for up to two years , if and when requested by the Board or the Chief Executive Officer. The letter agreement also contains other customary terms and conditions relating to Mr. Passeri’s end of service with the Company. The Company recognized expenses related to the consulting and letter agreements of $0.3 million and $0.1 million during the three months ended September 30, 2016 and 2015 , respectively, and expenses of $0.4 million and $0.1 million during the nine months ended September 30, 2016 and 2015 , respectively.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	13. New Accounting Pronouncements In March 2016, the Financial Accounting Standard Board (FASB) issued Accounting Standard Update (ASU) 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies share-based payment accounting through a variety of amendments. The standard will be effective for annual reporting periods and interim periods within those annual periods, beginning after December 15, 2016, and early adoption is permitted. The Company does not expect the impact of this guidance to be material to its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases . The standard requires organizations that lease assets to recognize on the balance sheet assets or liabilities, as applicable, for the rights and obligations created by those leases. Additionally, the guidance modifies current guidance for lessor accounting and leveraged leases, and is effective for fiscal years beginning after December 15, 2018, and interim periods within such years. Early adoption is permitted, but the Company does not anticipate electing early adoption. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In January 2016, the FASB issued ASU, 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which amends prior guidance on accounting for equity investments and financial liabilities. The new standard amends certain aspects of accounting and disclosure requirements for financial instruments, including the requirement that equity investments with readily determinable fair values be measured at fair value with changes in fair value recognized in results of operations. The new standard does not apply to investments accounted for under the equity method of accounting or those that result in consolidation of the investee. Equity investments that do not have readily determinable fair values may be measured at fair value or at cost minus impairment adjusted for changes in observable prices. A financial liability that is measured at fair value in accordance with the fair value option is required to be presented separately in other comprehensive income for the portion of the total change in the fair value resulting from change in the instrument-specific credit risk. In addition, a valuation allowance should be evaluated on deferred tax assets related to available-for-sale debt securities in combination with other deferred tax assets. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within such years. Early adoption is permitted but the Company does not anticipate electing early adoption. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to continue as a Going Concern. This update is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements and to provide related footnote disclosures. This guidance is effective for fiscal years ending after December 15, 2016, and early adoption is permitted. The Company is currently evaluating what effect, if any, the adoption of this guidance will have on the disclosures included in its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes all existing revenue recognition requirements, including most industry-specific guidance. The new standard requires a company to recognize revenue when it transfers goods or services to customers in an amount that reflects the consideration that the company expects to receive for those goods or services. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which delayed the effective date of the new standard from January 1, 2017 to January 1, 2018. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations , which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which clarifies certain aspects of identifying performance obligations and licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients , related to disclosures of remaining performance obligations, as well as other amendments to guidance on collectability, non-cash consideration and the presentation of sales and other similar taxes collected from customers. These standards have the same effective date and transition date of January 1, 2018. The Company is currently evaluating the method of adoption and the potential impact that these standards may have on its consolidated financial statements.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract]
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 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. GAAP also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: 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.
Accounting for Stock-Based Compensation	As of September 30, 2016 , the Company had two shareholder-approved, share-based compensation plans: (i) the Amended and Restated 2010 Stock Incentive Plan, or the 2010 Plan, adopted as amended 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.
Basic and Diluted Loss Per Common Share	Basic and diluted loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period.
New Accounting Pronouncements	In March 2016, the Financial Accounting Standard Board (FASB) issued Accounting Standard Update (ASU) 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies share-based payment accounting through a variety of amendments. The standard will be effective for annual reporting periods and interim periods within those annual periods, beginning after December 15, 2016, and early adoption is permitted. The Company does not expect the impact of this guidance to be material to its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases . The standard requires organizations that lease assets to recognize on the balance sheet assets or liabilities, as applicable, for the rights and obligations created by those leases. Additionally, the guidance modifies current guidance for lessor accounting and leveraged leases, and is effective for fiscal years beginning after December 15, 2018, and interim periods within such years. Early adoption is permitted, but the Company does not anticipate electing early adoption. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In January 2016, the FASB issued ASU, 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which amends prior guidance on accounting for equity investments and financial liabilities. The new standard amends certain aspects of accounting and disclosure requirements for financial instruments, including the requirement that equity investments with readily determinable fair values be measured at fair value with changes in fair value recognized in results of operations. The new standard does not apply to investments accounted for under the equity method of accounting or those that result in consolidation of the investee. Equity investments that do not have readily determinable fair values may be measured at fair value or at cost minus impairment adjusted for changes in observable prices. A financial liability that is measured at fair value in accordance with the fair value option is required to be presented separately in other comprehensive income for the portion of the total change in the fair value resulting from change in the instrument-specific credit risk. In addition, a valuation allowance should be evaluated on deferred tax assets related to available-for-sale debt securities in combination with other deferred tax assets. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within such years. Early adoption is permitted but the Company does not anticipate electing early adoption. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to continue as a Going Concern. This update is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements and to provide related footnote disclosures. This guidance is effective for fiscal years ending after December 15, 2016, and early adoption is permitted. The Company is currently evaluating what effect, if any, the adoption of this guidance will have on the disclosures included in its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes all existing revenue recognition requirements, including most industry-specific guidance. The new standard requires a company to recognize revenue when it transfers goods or services to customers in an amount that reflects the consideration that the company expects to receive for those goods or services. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which delayed the effective date of the new standard from January 1, 2017 to January 1, 2018. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations , which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which clarifies certain aspects of identifying performance obligations and licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients , related to disclosures of remaining performance obligations, as well as other amendments to guidance on collectability, non-cash consideration and the presentation of sales and other similar taxes collected from customers. These standards have the same effective date and transition date of January 1, 2018. The Company is currently evaluating the method of adoption and the potential impact that these standards may have on its consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 of those financial assets and liabilities that are measured at fair value on a recurring basis. Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value As of September 30, 2016: Cash equivalents: Money market funds $ 16,521 $ — $ — $ 16,521 Corporate commercial paper, bonds and notes — 1,250 — 1,250 Municipal bonds — 330 — 330 Short-term investments: Corporate commercial paper, stock, bonds and notes — 32,684 — 32,684 Total assets at fair value $ 16,521 $ 34,264 $ — $ 50,785 Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value As of December 31, 2015: Cash equivalents: Money market funds $ 13,568 $ — $ — $ 13,568 Corporate commercial paper, bonds and notes 2,001 7,998 — 9,999 Municipal bonds — 7,850 — 7,850 Short-term investments: Corporate commercial paper, stock, bonds and notes 2,644 46,456 — 49,100 Total assets at fair value $ 18,213 $ 62,304 $ — $ 80,517

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Amortized Cost, Unrealized Gains and Losses and Fair Value of Investments	The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2015 are as follows: Amortized Cost Unrealized Gain Unrealized Loss Total Fair Value Corporate bonds and notes – short-term $ 49,072 $ 44 $ (16 ) $ 49,100 Total investments $ 49,072 $ 44 $ (16 ) $ 49,100 The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of September 30, 2016 are as follows: Amortized Cost Unrealized Gain Unrealized Loss Total Fair Value Corporate bonds and notes – short-term $ 32,657 $ 32 $ (5 ) $ 32,684 Total investments $ 32,657 $ 32 $ (5 ) $ 32,684

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consist of the following: September 30, December 31, Accrued compensation $ 1,637 $ 1,310 Professional fees 115 123 Accrued interest on debt (Note 7) 225 252 Other 347 249 Total $ 2,324 $ 1,934

Accounting for Stock-Based Co23

Accounting for Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Key Assumptions for Options Awarded	The Black-Scholes option pricing model employs the following key assumptions for employee and director options awarded during the nine months ended September 30, 2016 and 2015 based on the assumptions noted in the following table: Nine Months Ended 2016 2015 Expected life (years) - employees 6 6 Expected life (years) – officers and directors 7 7 Risk-free interest rate 1.4-1.8% 1.5-1.9% Volatility 63-70% 68-70% Dividends None None
Schedule of Recorded Stock-Based Compensation Expense	For the three and nine months ended September 30, 2016 and 2015 , the Company recorded stock-based compensation expense to the following line items in its costs and expenses section of the condensed consolidated statements of operations and comprehensive loss, including expense related to its ESPP: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Research and development expenses $ 205 $ 170 $ 531 $ 771 General and administrative expenses 1,425 731 2,780 2,104 Total stock-based compensation expense $ 1,630 $ 901 $ 3,311 $ 2,875

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and 2015 : Unrealized Gain on Securities Available-for-Sale Balance, as of December 31, 2015 $ 28 Unrealized gain on marketable securities (2 ) Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive income (2 ) Balance, as of September 30, 2016 $ 26 The above amounts do not reflect a tax effect because the Company expects to record a net loss for 2016 . Unrealized Losses and Gain on Securities Available-for-Sale Balance, as of December 31, 2014 $ (11 ) Unrealized gain on marketable securities 65 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive income 65 Balance, as of September 30, 2015 $ 54

Nature of Business (Details)

Nature of Business (Details)	Sep. 07, 2016USD ($)shares	Sep. 30, 2016USD ($)programshares	Sep. 30, 2016segmentprogram	Oct. 31, 2016program	Dec. 31, 2015program	Oct. 31, 2015program
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Reportable segments | segment			1
Aurigene
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Shares issued of common stock in exchange for waived payment (in shares) | shares	10,208,333	10,208,333
Waived payment of milestone and other payments (up to) | $	$ 24,500,000	$ 24,500,000
Collaboration agreement, number of programs licensed		2	2		2	2
Aurigene | Subsequent event
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, number of programs licensed				3

Collaboration Agreements (Detai

Collaboration Agreements (Details)	Sep. 07, 2016USD ($)shares	Oct. 31, 2016USD ($)program	Sep. 30, 2016USD ($)programshares	Jan. 31, 2015	Jun. 30, 2003USD ($)	Sep. 30, 2016USD ($)program	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)paymentrightproducttermprogrampatient	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)program	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)paymentrightproducttermprogrampatient	Sep. 30, 2016USD ($)program	Sep. 06, 2016$ / shares	Oct. 31, 2015USD ($)program	Dec. 31, 2012USD ($)
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Recognized royalty revenue						$ 1,817,000				$ 2,293,000	$ 5,403,000	$ 5,998,000
Cost of royalty revenues						94,000				116,000	278,000	303,000
Collaboration agreement, number of optional additional terms | term									3				3
Collaboration agreement, optional additional term													1 year
Option fees													$ 7,500,000
Number of payments | payment									2				2
Closing share price of common stock (in dollars per share) | $ / shares															$ 1.76
Curis Royalty | Credit agreement with BioPharma-II
Collaborative Arrangements and Non-collaborative Arrangement Transactions [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%
Genentech, Inc.
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amount received for specified clinical development and regulatory objectives			$ 59,000,000			59,000,000					59,000,000			$ 59,000,000
Percentage of royalty rate decrease					2.00%				2.00%
Recognized royalty revenue						1,800,000				2,300,000	5,400,000	6,000,000
Cost of royalty revenues						$ 100,000				$ 100,000	$ 300,000	$ 300,000
Percentage of royalties earned						5.00%				5.00%	5.00%	5.00%
Genentech, Inc. | Drug development royalty
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Research and development revenue						$ 100,000				$ 100,000	$ 200,000	$ 200,000
Research and development expenses						$ 100,000				$ 300,000	$ 400,000	$ 400,000
Genentech, Inc. | Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible to receive contingent cash payment for specified clinical development and regulatory objectives (up to)					$ 115,000,000
Percentage of royalty on net sales					7.50%
Genentech, Inc. | Minimum
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of royalty on net sales					5.00%
Aurigene
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, option exercisable period				90 days
Collaboration agreement, number of programs licensed | program			2			2			2		2		2	2		2
Collaboration agreement payment													$ 6,000,000
Additional payments made under collaborative arrangements (up to)																$ 2,000,000
Research and development expenses						$ 18,000,000		$ 1,000,000	$ 1,000,000		$ 18,000,000
Payments for research and development							$ 1,000,000	$ 1,000,000
Payment for preclinical program for potential further development													$ 2,000,000
Collaboration agreement, number of products required to commercialize (at least) | product									1				1
Collaboration agreement period													2 years
Collaboration agreement, rights granted to nominate global drug substance or drug product supplier | right									1				1
Payments made under collaboration arrangements														$ 11,000,000
Shares issued of common stock in exchange for waived payment (in shares) | shares	10,208,333		10,208,333
Waived payment of milestone and other payments (up to)	$ 24,500,000		$ 24,500,000
Value of common stock issued	18,000,000
Aurigene | Subsequent event
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, number of programs licensed | program		3
Payment for license and designation as the development candidate		$ 1,500,000
Aurigene | PD1/VISTA programs
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment													$ 3,000,000
Collaboration agreement expenses, option exercise													3,000,000
Collaboration agreement expenses, acceptance of IND filing						3,000,000							3,000,000
Collaboration agreement expenses, dosing of fifth patient													4,000,000
Aurigene | IRAK4 programs
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment													3,000,000
Collaboration agreement expenses, option exercise													3,000,000
Collaboration agreement expenses, acceptance of IND filing													3,000,000
Collaboration agreement expenses, dosing of fifth patient													4,000,000
Aurigene | Programs three and four
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Agreement to provide additional funding, if options are exercised (up to)	2,000,000
Aurigene | Program three
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, option exercise													3,000,000
Collaboration agreement expenses, acceptance of IND filing													2,500,000
Payments made under collaboration arrangements														2,000,000
Collaboration agreement expenses, program selection fee													2,000,000
Aurigene | Program four
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, option exercise													3,000,000
Collaboration agreement expenses, acceptance of IND filing													2,500,000
Collaboration agreement expenses, program selection fee													2,000,000
Aurigene | Program thereafter
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Additional payments made under collaborative arrangements (up to)			$ 0			$ 0					$ 0			$ 0
Collaboration agreement, fees (up to)													$ 53,000,000
Aurigene | Extended exclusivity, IRAK4 program
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	1,000,000
Aurigene | Acceptance of IND filing, IRAK4 program
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	3,000,000
Aurigene | Phase 1 clinical trial, dosing of fifth patient, IRAK4 program
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	4,000,000
Number of patients dosed that trigger payment | patient									5,000				5,000
Aurigene | Extended exclusivity, PD1/VISTA program
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	1,000,000
Aurigene | Phase 1 clinical trial, dosing of fifth patient, PD1/VISTA
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	4,000,000
Number of patients dosed that trigger payment | patient									5,000				5,000
Aurigene | Option exercise payment, program three
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	$ 1,500,000
Percentage of consideration received	50.00%
Aurigene | Acceptance of IND filing, program three
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	$ 2,500,000
Aurigene | Program selection fee, program four
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	2,000,000
Aurigene | Option exercise payment, program four
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	3,000,000
Aurigene | Acceptance of IND filing, program four
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Waived payment of milestone and other payments (up to)	$ 2,500,000
Aurigene | Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement period													5 years
Percentage of contribution (up to)									50.00%				50.00%
Aurigene | Maximum | PD1/VISTA programs
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, payment per program (up to)													$ 52,500,000
Aurigene | Maximum | IRAK4 programs
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, payment per program (up to)													52,500,000
Aurigene | Maximum | Program three
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, payment per program (up to)													50,000,000
Aurigene | Maximum | Program four
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, payment per program (up to)													50,000,000
Aurigene | Maximum | Program thereafter
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, payment per program (up to)													$ 140,500,000

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets or Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair value measurements, recurring - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Short-term investments:
Total assets at fair value	$ 50,785	$ 80,517
Short-term investments | Corporate commercial paper, stock, bonds and notes
Short-term investments:
Corporate commercial paper, stock, bonds and notes	32,684	49,100
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	16,521	13,568
Corporate commercial paper, bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,250	9,999
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	330	7,850
Quoted Prices in Active Markets (Level 1)
Short-term investments:
Total assets at fair value	16,521	18,213
Quoted Prices in Active Markets (Level 1) | Short-term investments | Corporate commercial paper, stock, bonds and notes
Short-term investments:
Corporate commercial paper, stock, bonds and notes	0	2,644
Quoted Prices in Active Markets (Level 1) | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	16,521	13,568
Quoted Prices in Active Markets (Level 1) | Corporate commercial paper, bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		2,001
Other Observable Inputs (Level 2)
Short-term investments:
Total assets at fair value	34,264	62,304
Other Observable Inputs (Level 2) | Short-term investments | Corporate commercial paper, stock, bonds and notes
Short-term investments:
Corporate commercial paper, stock, bonds and notes	32,684	46,456
Other Observable Inputs (Level 2) | Corporate commercial paper, bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,250	7,998
Other Observable Inputs (Level 2) | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 330	$ 7,850

Investments - Summary of Amorti

Investments - Summary of Amortized Cost, Unrealized Gains and Losses and Fair Value of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 32,657	$ 49,072
Unrealized Gain	32	44
Unrealized Loss	(5)	(16)
Total Fair Value	32,684	49,100
Corporate bonds and notes – short-term | Short-term investments
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	32,657	49,072
Unrealized Gain	32	44
Unrealized Loss	(5)	(16)
Total Fair Value	$ 32,684	$ 49,100

Investments - Narrative (Detai

Investments - Narrative (Details) - Short-term investments	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Short-term investments, weighted average maturity	2 months 15 days	4 months 6 days
Minimum
Schedule of Available-for-sale Securities [Line Items]
Short-term investments, maturity ranges	1 month	1 month
Maximum
Schedule of Available-for-sale Securities [Line Items]
Short-term investments, maturity ranges	12 months	12 months

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2012
Debt Instrument [Line Items]
Payment towards debt obligations			$ 3,219,000	$ 2,793,000
Current portion of long-term debt, net	$ 5,104,000		5,104,000		$ 4,607,000
Long-term debt, net	15,798,000		15,798,000		19,558,000
Interest expense recognized related to loan	657,000	$ 827,000	2,126,000	2,537,000
BioPharma-II
Debt Instrument [Line Items]
Interest expense recognized related to loan	700,000	$ 800,000	2,100,000	2,500,000
Curis Royalty | Credit agreement with BioPharma-II
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%
Percentage equal to the price of the outstanding principal of the loan that may be prepaid						105.00%
Payment towards debt obligations			5,300,000	5,300,000
Current portion of long-term debt, net	5,100,000		5,100,000		4,600,000
Long-term debt, net	$ 15,800,000		15,800,000		19,600,000
Accrued interest on loan amount to Curis Royalty given by BioPharma under credit agreement			200,000		$ 300,000
Curis Royalty | Credit agreement with BioPharma-II | Principal portion
Debt Instrument [Line Items]
Payment towards debt obligations			$ 3,200,000	$ 2,800,000

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Accrued compensation	$ 1,637	$ 1,310
Professional fees	115	123
Accrued interest on debt (Note 7)	225	252
Other	347	249
Total	$ 2,324	$ 1,934

Accounting for Stock-Based Co32

Accounting for Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)plan$ / sharesshares	Sep. 30, 2015USD ($)$ / shares
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of shareholder-approved, share-based compensation plans | plan			2
Stock options outstanding (in shares) | shares	15,487,348		15,487,348
Aggregate intrinsic value of employee options outstanding	$ 9.2		$ 9.2
Intrinsic value of exercisable options	3.9		$ 3.9
Weighted average grant-date fair values of stock options (in dollars per share) | $ / shares			$ 1.08	$ 1.71
Unrecognized compensation cost, net of estimated forfeitures	7.1		$ 7.1
Intrinsic values of employee stock options exercised			0.5	$ 0.1
Fair values of vested stock options			2.8	2.1
Non-employee compensation expense, recognized expenses (reversals)	0.1	$ (0.1)	(0.1)	0.2
Stock options outstanding
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Compensation expense related to employee and director stock option grants	$ 1.6	$ 1	$ 3.3	$ 2.7
Vice Chairman of Board of Directors | Stock options outstanding
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period of options	24 months
Compensation expense related to employee and director stock option grants	$ 0.6
2010 Plan
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of options granted (in shares) | shares			4,621,225
Vesting period of options			4 years
Unrecognized compensation cost, weighted average period for recognition			2 years 10 months 4 days
2010 Plan | Non-employee directors
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of options granted (in shares) | shares			470,000
Vesting period of options			1 year
Stock option granted, exercise price per share (in dollars per share) | $ / shares			$ 1.76
2010 Plan | Tranche one
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Percentage of vested shares which are exercisable under stock option			25.00%
2010 Plan | Tranche two
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Percentage of vested shares which are exercisable under stock option			6.25%

Accounting for Stock-Based Co33

Accounting for Stock-Based Compensation - Key Assumptions (Details)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Risk-free interest rate, minimum	1.40%	1.50%
Risk-free interest rate, maximum	1.80%	1.90%
Volatility, minimum	63.00%	68.00%
Volatility, maximum	70.00%	70.00%
Dividends	0.00%	0.00%
Employees
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expected life	6 years	6 years
Officers and directors
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expected life	7 years	7 years

Accounting for Stock-Based Co34

Accounting for Stock-Based Compensation - Schedule of Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	$ 1,630	$ 901	$ 3,311	$ 2,875
Research and development expenses
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	205	170	531	771
General and administrative expenses
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	$ 1,425	$ 731	$ 2,780	$ 2,104

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Income (Loss) - Summary of Changes (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 64,510
Ending balance	37,870
Accumulated net unrealized investment gain (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	28	$ (11)
Unrealized gain on marketable securities	(2)	65
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Net current period other comprehensive income	(2)	65
Ending balance	$ 26	$ 54

Loss Per Common Share (Details)

Loss Per Common Share (Details) - shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	15,487,348	13,678,899

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Sep. 02, 2016	Jun. 02, 2014	Sep. 30, 2016	Sep. 30, 2015	May 31, 2016	Sep. 30, 2016	Sep. 30, 2015
Stock options outstanding | Vice Chairman of Board of Directors
Related Party Transaction [Line Items]
Vesting period of options			24 months
Mr. Daniel R. Passeri
Related Party Transaction [Line Items]
Consulting agreement term		1 year
Consulting fees per month					$ 30,000
Agreement to provide continued assistance, term (up to)	2 years
Consulting agreement, recognized expenses			$ 300,000	$ 100,000		$ 400,000	$ 100,000
Mr. Daniel R. Passeri | Stock options outstanding
Related Party Transaction [Line Items]
Vesting period of options	24 months
Mr. Daniel R. Passeri | Recognition bonus
Related Party Transaction [Line Items]
Authorized recognition bonus payment	$ 250,000