| Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Organization and Business Senomyx, Inc. (“we”, “us” or “our”) was incorporated in Delaware in September 1998 January 1999. We currently have product discovery, development and commercialization collaborations with four Basis of Presentation The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. We have incurred net losses from operations since inception and have an accumulated deficit of $278.2 December 31, 2016. December 31, 2016 $12.4 12 Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We consider all highly liquid investments with a remaining maturity of three Investments Available-for-Sale Our surplus cash is generally invested in United States Treasuries, United States government agency bonds and corporate bonds with maturity dates of two Fair Value of Financial Instruments other than Investments Available-for-Sale The carrying amoun t of cash and cash equivalents, accounts receivables, accounts payable and accrued expenses are considered to be representative of their respective fair value because of the short-term nature of these items. Concentration of Credit Risk and Major Collaborations Financial instruments, which potentially subject us to concentrations of credit risk, consist of cash, cash equivalents and investments available-for-sale. We limit our exposure to credit loss by placing our cash, cash equivalents, and investments with high credit quality financial institutions in instruments with short maturities. We derive significant portions of our revenues from a relatively small number of collaborators. For the years ended December 31, 2016, 2015 2014, 10% Years Ended December 31, 201 6 201 5 201 4 PepsiCo (in millions) $ 14.0 (61%) $ 14.9 (60%) $ 14.5 (53%) Firmenich (in millions) $ 6.7 (29%) $ 8.8 (35%) $ 9.4 (34%) Accounts Receivable We extend credit to our customers in the normal course of business based upon an evaluation of the customer’s credit history, financial condition and other factors. Estimates of allowances for uncollectible receivables are determined by evaluating individual customer circumstances, historical payment patterns, length of time past due and other factors. At December 31, 2016 2015, not Accounts receivable from c ustomers which contributed 10% December 31, 2016 2015 December 31, 201 6 201 5 PepsiCo (in millions) $ 3.4 (63%) $ 2.0 (61%) Firmenich (in millions) $ 1.3 (24%) $ 1.2 (37%) Ajinomoto (in millions) $ 0.6 (11%) — Inventories Inventories consist entirely of purchased finished goods. Inventories are valued at lower of cost (on a moving average basis) or market value. We are required to make assumptions regarding the level of reserves required to value items at the lower of cost or market. At December 31, 2016 2015, In July 2015, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015 11, Simplifying the Measurement of Inventory first 2018. Property and Equipment , net Property and equipment , net are stated at cost less accumulated depreciation and are depreciated over the estimated useful lives of the assets (ranging from three five Impairment of Long-Lived Assets In accordance with the Property, Plant and Equipment Topic of the FASB Accounting Standards Codification (“ASC”) , if indicators of impairment exist, we assess the recoverability of the affected long-lived assets by determining whether the carrying value of such assets can be recovered through undiscounted future operating cash flows. If impairment is indicated, we measure the amount of such impairment by comparing the fair value to the carrying value. There have been no indicators of impairment through December 31, 2016. Deferred Rent Rent expense is recorded on a straight-line basis over the term of any lease. The difference between rent expense accrued and amounts paid under any lease agreement is recorded as deferred rent in the accompanying balance sheets. Leasehold Incentive Obligation In conjunction with the lease agreement covering the facility occupied by us, we received a tenant $155 $10.1 tenant tenant tenant Revenue Recognition Development Revenues Development revenues are based on our product discovery, development and commercialization collaboration agreements. Some of our collaboration agreements contain multiple elements, including technological and territorial licenses and research and development services. In accordance with these agreements, we may Pursuant to the Revenue Recognition – Multiple-Element Arrangements Topic of the FASB ASC, each required deliverable is evaluated to determine if it qualifies as a separate unit of accounting. For us, this determination is generally based on whether the deliverable has “stand-alone value” to the customer. The arrangement’s consideration is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value; (ii) third January 1, 2011 Non-refundable license fees, if not associated with our future performance, are recognized when received. Non-refundable license fees, if associated with our future performance obligations, are attributed to a specific program or collaboration and recognized over the period of service for that specific program or collaboration. Amounts received for research funding are recognized as revenues as the services are performed. Revenue is deferred for fees received before earned. Revenues from development milestones are accounted for in accordance with the Revenue Recognition – Milestone Method Topic of the FASB ASC. Milestones are recognized when earned, as evidenced by written acknowledgment from the collaborator or other persuasive evidence that the milestone has been achieved, provided that the milestone event is substantive. A milestone event is considered to be substantive if its achievability was not reasonably assured at the inception of the agreement and our efforts led to the achievement of the milestone or the milestone was due upon the occurrence of a specific outcome resulting from our performance. If these criteria are not met, the milestone payment is recognized over the remaining minimum period of our performance obligations under the agreement. We assess whether a milestone is substantive at the inception of each agreement. Revenues from cost reimbursement are recognized when earned, as evidenced by written acknowledgment from the collaborator or other persuasive evidence. Commercial Revenues Commercial revenues from collaboration agreements include royalties on sales made by our collaborators of products incorporating our flavor ingredients, minimum periodic royalty payments and revenues from the achievement of commercial milestones. Commercial revenues also include direct sales of our flavor ingredients to flavor companies. Royalties on sales made by our collaborators of products incorporating our flavor ingredients are recognized when a royalty report or other persuasive evidence is received, which is generally one Revenues from direct sales of our flavor ingredients are recorded when there is persuasive evidence that an arrangement exists, title has passed, collection is reasonably assured and the price is fixed or determinable. We generally do not offer discounts, rebates or a general right of return on sales of flavor ingredients. New Accounting Guidance In May 2014, December 15, 2017, one two January 1, 2018, will adopt the new standard on January 1, 2018 may one Cost of Commercial Revenues Cost of c ommercial revenues represents royalties payable under our third Research , D evelopment and Patents Research and development costs, including those incurred in relation to our collaborative agreements, are expensed in the period incurred. Research and development costs primarily consist of salaries and related expenses for personnel, facilities and depreciation, research and development supplies, licenses and outside services. Such research and development costs totaled $19.3 $22.4 $24.9 December 31, 2016, 2015 2014, Costs related to filing and pursuing patent applications are expensed as incurred, as recoverability of such expenditures is uncertain . We include all external costs related to the filing of patents related to development in Research, Development and Patents expenses. Such patent-related expenses totaled $1.7 December 31, 2016, 2015 2014. Employee Benefit Plans We have a defined contribution plan under Section 401(k) may may $166,000, $183,000 $199,000 December 31, 2016, 2015 2014, Stock-Based Compensation Compensation cost for stock -based awards is based on the estimated grant-date fair value. We use the Black-Scholes option-pricing model for determining the estimated fair value for stock-based awards with the following weighted average assumptions (annualized percentages): Years Ended December 31, 20 1 6 20 1 5 20 1 4 Stock Options Expected volatility 65.2 % 65.6 % 71.8 % Risk-free interest rate 1.62 % 1.73 % 1.82 % Dividend yield 0.0 % 0.0 % 0.0 % Expected term (in years) 6.0 6.1 6.2 Employee Stock Purchase Plan Expected volatility 65.5 % 68.4 % 68.9 % Risk-free interest rate 0.67 % 0.47 % 0.23 % Dividend yield 0.0 % 0.0 % 0.0 % Expected term (in years) 1.3 1.2 1.3 Expected volatility is based on our historical volatility. The risk-free interest rate for the expected term of the option is based on the average United States Treasury yield curve at the grant date. The assumed dividend yield is based on our expectation of not paying dividends in the foreseeable future. The expected term of options granted is based on historical exercise data . The assumptions related to expected volatility and risk-free interest rate used for the valuation of stock options differ from those used for the valuation of employee stock purchase plan rights primarily due to the difference in their respective expected terms. The weighted-average estimated fair value of stock options granted during the year s ended December 31, 2016, 2015 2014 $1.70, $2.79 $5.53 December 31, 2016, 2015 2014 $1.74, $2.88 $4.21 S tock-based compensation expenses recognized in the Statements of Operations are based on awards ultimately expected to vest; accordingly, these expenses are reduced for estimated forfeitures. The Compensation-Stock Compensation Topic of the FASB ASC requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Pre-vesting forfeitures were estimated to be approximately 3.0%, 3.8% 4.0% December 31, 2016, 2015 2014, S tock-based compensation expenses for options and awards are recognized on a straight-line basis. S tock-based compensation expenses are allocated to research, development and patents or selling, general and administrative based upon the department to which the associated employee or non-employee reports. Total stock-based compensation expense s recognized for the years ended December 31, 2016, 2015 2014 Years Ended December 31, 201 6 201 5 201 4 Research , development and patents $ 1,932 $ 2,233 $ 2,575 Selling, g eneral and administrative 2,507 3,037 3,606 Total stock-based compensation expenses $ 4,439 $ 5,270 $ 6,181 The total fair value of options that vested during the years ended December 31, 201 6, 2015 2014 $4.0 $5.8 $3.7 December 31, 2016, $4.7 1.6 Income Taxes W e account for income taxes in accordance with provisions which set forth an asset and liability approach that requires the recognition of deferred tax assets and deferred tax liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that is more likely than not expected to be realized. In making such a determination, a review of all available positive and negative evidence is considered, including scheduled reversal of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial performance. T he provisions of the Income Taxes Topic of the FASB ASC defines a recognition threshold and measurement attributes for financial statement recognition and measurement of a tax provision taken or expected to be taken in a tax return. The Topic also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Under the Topic, the impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% Net Loss Per Share Basic earnings per share (“EPS”) is calculated by dividing the net loss by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing the net income or loss by the weighted average number of common share equivalents outstanding for the period determined using the treasury-stock method . Dilutive common share equivalents include the dilutive effect of in-the-money shares, which is calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, the exercise price of a share, the amount of compensation cost, if any, for future service that we have not yet recognized, and the amount of estimated tax benefits that would be recorded in paid-in capital, if any, when the share is exercised are assumed to be used to repurchase shares in the current period. For purposes of this calculation, options to purchase common stock are considered to be common stock equivalents and are only included in the calculation of diluted EPS when their effect is dilutive. The following table sets forth the computatio n of basic and diluted net loss per share for the respective periods. Year s E nded December 31, 20 1 6 20 1 5 20 1 4 Numerator: Net loss (in thousands) $ (10,686 ) $ (12,648 ) $ (12,150 ) Denominator: Weighted average common shares 44,803,952 43,968,167 42,611,904 Basic and diluted net loss per share $ (0.24 ) $ (0.29 ) $ (0.29 ) Year s E nded December 31, 20 1 6 20 1 5 20 1 4 O utstanding antidilutive securities not included in diluted net loss per share calculation: Options to purchase common stock 10,538,693 10,942,398 11,256,053 Comprehensive Income (Loss) The Comprehensive Income Topic of the FASB ASC requires that all components of comprehensive income (loss), including net income (loss), be reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Our accumulated other comprehensive income (loss) as of December 31, 2016, 2015 2014 Segment Reporting We operate in one Recent Accounting Pronouncements In August 2014, 2014 15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . Under the new guidance, management is required to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The provisions of this ASU are effective for annual periods ending after December 15, 2016, December 31, 2016. In February 2016, 2106 02, Leases December 15, 2018, In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting January 1, 2017 first 2017. $3.2 $243,000 |
