Exact Sciences (EXAS) 10-K27 Feb 152014 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Feb. 26, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	EXACT SCIENCES CORP
Entity Central Index Key	1124140
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$1,398,396,140
Entity Common Stock, Shares Outstanding		88,671,335
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current Assets:
Cash and cash equivalents	$58,131	$12,851
Marketable securities	224,625	120,408
Accounts receivable	1,376
Inventory, net	4,017
Prepaid expenses and other current assets	3,528	2,199
Total current assets	291,677	135,458
Property and Equipment, at cost:
Laboratory equipment	10,381	5,087
Assets under construction	1,552	2,592
Computer equipment and computer software	7,577	1,217
Leasehold improvements	5,937	5,043
Furniture and fixtures	939	268
Property and Equipment, gross	26,386	14,207
Less-Accumulated depreciation	-6,439	-3,038
Net property and equipment	19,947	11,169
Total assets	311,624	146,627
Current Liabilities:
Accounts payable	2,647	873
Accrued expenses	13,960	5,694
Capital lease obligation, current portion	360	351
Lease incentive obligation, current portion	554	540
Deferred license fees, current portion		294
Total current liabilities	17,521	7,752
Long-term debt	1,000	1,000
Long-term accrued interest	106	84
Other long-term liabilities	2,399
Capital lease obligation, less current portion		360
Lease incentive obligation, less current portion	1,614	2,115
Total liabilities	22,640	11,311
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $0.01 par value Authorizedâ€”5,000,000 shares Issued and outstandingâ€”no shares at December 31, 2014 and December 31, 2013
Common stock, $0.01 par value Authorizedâ€”200,000,000 shares Issued and outstandingâ€”88,626,042 and 71,071,838 shares at December 31, 2014 and December 31, 2013	887	711
Additional paid-in capital	709,019	455,239
Accumulated other comprehensive income	-115	125
Accumulated deficit	-420,807	-320,759
Total stockholders' equity	288,984	135,316
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$311,624	$146,627

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, Authorized shares	5,000,000	5,000,000
Preferred stock, Issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, Authorized shares	200,000,000	200,000,000
Common stock, Issued shares	88,626,042	71,071,838
Common stock, outstanding shares	88,626,042	71,071,838

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net sales
Laboratory service revenue	$1,504
License fees	294	4,144	4,144
Total revenue	1,798	4,144	4,144
Cost of sales	4,325
Gross margin	-2,527	4,144	4,144
Operating expenses:
Research and development	28,669	27,678	42,131
General and administrative	30,435	13,649	9,900
Sales and marketing	38,908	9,578	4,755
Total operating expenses	98,012	50,905	56,786
Loss from operations	-100,539	-46,761	-52,642
Other income (expense)
Investment income	542	316	262
Interest expense	-51	-69	-41
Total other income (expense)	491	247	221
Net loss	($100,048)	($46,514)	($52,421)
Net loss per share-basic and diluted (in dollars per share)	($1.25)	($0.69)	($0.88)
Weighted average common shares outstanding-basic and diluted (in shares)	80,232	67,493	59,481

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Consolidated Statements of Comprehensive Loss
Net loss	($100,048)	($46,514)	($52,421)
Other comprehensive loss, net of tax:
Unrealized gain (loss) on available-for-sale investments	-240	47	92
Comprehensive loss	($100,288)	($46,467)	($52,329)

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (USD $)	Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings [Member]	Total
In Thousands, except Share data, unless otherwise specified	Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2011	$566	$304,767	($14)	($221,824)	$83,495
Balance (in shares) at Dec. 31, 2011	56,624,763
Increase (Decrease) in Stockholders' Equity
Issuance of common stock related to the Mayo Transaction (Note 4)	1	999			1,000
Issuance of common stock related to the Mayo Transaction (Note 4) (in shares)	97,466
Issuance of common stock, net of issuance costs of $11.0, $4.8 and $3.9 million for 2014, 2013 and 2012, respectively	63	57,692			57,755
Issuance of common stock, net of issuance costs (in shares)	6,325,000
Exercise of common stock options and warrants	7	2,381			2,388
Exercise of common stock options and warrants (in shares)	691,471
Issuance of common stock to fund the Company's 2014, 2013 and 2012 401(k) match		274			274
Issuance of common stock to fund the Company's 2013, 2012 and 2011 401(k) match (in shares)	32,872
Compensation expense related to issuance of stock options and restricted stock awards	1	5,492			5,493
Compensation expense related to issuance of stock options and restricted stock awards (in shares)	74,617
Purchase of employee stock purchase plan shares	1	366			367
Purchase of employee stock purchase plan shares (in shares)	63,611
Expense related to warrants (Note 4)		152			152
Net loss				-52,421	-52,421
Accumulated other comprehensive (loss) income			92		92
Balance at Dec. 31, 2012	639	372,123	78	-274,245	98,595
Balance (in shares) at Dec. 31, 2012	63,909,800
Increase (Decrease) in Stockholders' Equity
Issuance of common stock, net of issuance costs of $11.0, $4.8 and $3.9 million for 2014, 2013 and 2012, respectively	63	73,232			73,296
Issuance of common stock, net of issuance costs (in shares)	6,325,000
Exercise of common stock options and warrants	4	1,337			1,341
Exercise of common stock options and warrants (in shares)	418,146
Issuance of common stock to fund the Company's 2014, 2013 and 2012 401(k) match	1	354			354
Issuance of common stock to fund the Company's 2013, 2012 and 2011 401(k) match (in shares)	30,538
Compensation expense related to issuance of stock options and restricted stock awards	3	7,741			7,744
Compensation expense related to issuance of stock options and restricted stock awards (in shares)	328,422
Purchase of employee stock purchase plan shares	1	452			453
Purchase of employee stock purchase plan shares (in shares)	59,932
Net loss				-46,514	-46,514
Accumulated other comprehensive (loss) income			47		47
Balance at Dec. 31, 2013	711	455,239	125	-320,759	135,316
Balance (in shares) at Dec. 31, 2013	71,071,838				71,071,838
Increase (Decrease) in Stockholders' Equity
Issuance of common stock, net of issuance costs of $11.0, $4.8 and $3.9 million for 2014, 2013 and 2012, respectively	155	238,425			238,580
Issuance of common stock, net of issuance costs (in shares)	15,500,000
Exercise of common stock options and warrants	15	2,625			2,640
Exercise of common stock options and warrants (in shares)	1,522,753
Issuance of common stock to fund the Company's 2014, 2013 and 2012 401(k) match	1	455			456
Issuance of common stock to fund the Company's 2013, 2012 and 2011 401(k) match (in shares)	32,666
Compensation expense related to issuance of stock options and restricted stock awards	4	11,516			11,520
Compensation expense related to issuance of stock options and restricted stock awards (in shares)	410,619
Purchase of employee stock purchase plan shares	1	759			760
Purchase of employee stock purchase plan shares (in shares)	88,166
Net loss				-100,048	-100,048
Accumulated other comprehensive (loss) income			-240		-240
Balance at Dec. 31, 2014	$887	$709,019	($115)	($420,807)	$288,984
Balance (in shares) at Dec. 31, 2014	88,626,042				88,626,042

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net loss	($100,048)	($46,514)	($52,421)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of fixed assets	3,710	1,418	985
Loss on disposal of property and equipment	49	100
Stock-based compensation	11,520	7,744	5,493
Amortization of deferred license fees	-294	-4,144	-4,144
Warrant licensing expense			152
Restricted stock licensing expense			1,000
Amortization of premium on short-term investments	842	636	532
Changes in assets and liabilities:
Prepaid expenses and other current assets	-1,329	-1,606	441
Accounts receivable	-1,376
Inventory, net	-4,017
Accounts payable	1,886	-2,891	2,887
Accrued expenses	8,610	2,833	532
Lease incentive obligation	-487	2,655
Accrued interest	22	21	21
Net cash used in operating activities	-80,912	-39,748	-44,522
Cash flows from investing activities:
Purchases of marketable securities	-209,471	-98,510	-96,047
Maturities of marketable securities	104,172	72,289	58,411
Purchases of property and equipment	-12,537	-9,282	-681
Net cash used in investing activities	-117,836	-35,503	-38,317
Cash flows from financing activities:
Proceeds from sale of common stock, net of issuance costs	238,580	73,296	57,755
Proceeds from exercise of common stock options	2,640	1,341	2,388
Proceeds in connection with the Company's employee stock purchase plan	760	453	367
Proceeds from New Market Tax Credit financing agreements	2,399
Payments on capital lease obligations	-351	-333	-107
Net cash provided by financing activities	244,028	74,757	60,403
Net increase (decrease) in cash and cash equivalents	45,280	-494	-22,436
Cash and cash equivalents, beginning of period	12,851	13,345	35,781
Cash and cash equivalents, end of period	58,131	12,851	13,345
Supplemental disclosure of non-cash investing and financing activities:
Unrealized gain (loss) on available-for-sale investments	-240	47	92
Issuance of 32,666, 30,538, and 32,872 shares of common stock to fund the Companyâ€™s 401(k) matching contribution for 2013, 2012, and 2011, respectively	456	354	274
Laboratory equipment acquired with a capital lease			$1,151

Consolidated_Statements_of_Cas1

Consolidated Statements of Cash Flows (Parenthetical)	12 Months Ended
Consolidated Statements of Cash Flows (Parenthetical)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Consolidated Statements of Cash Flows
Issuance of shares of common stock to fund the Company's 401(k) matching contribution	32,666	30,538	32,872

ORGANIZATION

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 2014
ORGANIZATION
ORGANIZATION	(1) ORGANIZATION
	Exact Sciences Corporation (“Exact” or the “Company”) was incorporated in February 1995. Exact is a molecular diagnostics company currently focused on the early detection and prevention of colorectal cancer. The Company’s non‑invasive stool‑based DNA (sDNA) screening technology includes proprietary and patented methods that isolate and analyze human DNA present in stool to screen for the presence of colorectal pre‑cancer and cancer.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of the Company’s wholly‑owned subsidiaries, Exact Sciences Laboratories, LLC, Exact Sciences Finance Corporation, Exact Sciences Europe LTD, and variable interest entities. See Note 12 for the discussion of financing arrangements involving certain entities that are variable interest entities that are included in our consolidated financial statements. All significant intercompany transactions and balances have been eliminated in consolidation.
	References to “Exact”, “we”, “us”, “our”, or the “Company” refer to Exact Sciences Corporation and its wholly owned subsidiaries.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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
	The Company considers cash on hand, demand deposits in bank, money market funds, and all highly liquid investments with an original maturity of 90 days or less to be cash and cash equivalents. The Company had no restricted cash at December 31, 2014 and 2013.
	Marketable Securities
	Management determines the appropriate classification of debt securities at the time of purchase and re‑evaluates such designation as of each balance sheet date. Debt securities carried at amortized cost are classified as held‑to‑maturity when the Company has the positive intent and ability to hold the securities to maturity. Marketable equity securities and debt securities not classified as held‑to‑maturity are classified as available‑for‑sale. Available‑for‑sale securities are carried at fair value, with the unrealized gains and losses, net of tax, reported in other comprehensive income. The amortized cost of debt securities in this category is adjusted for amortization of premiums and accretion of discounts to maturity computed under the straight‑line method. Such amortization is included in investment income. Realized gains and losses and declines in value judged to be other‑than‑temporary on available‑for‑sale securities are included in investment income. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available‑for‑sale are included in investment income.
	At December 31, 2014 and December 31, 2013 the Company’s investments were comprised of fixed income investments and all were deemed available‑for‑sale. The objectives of the Company’s investment strategy are to provide liquidity and safety of principal while striving to achieve the highest rate of return consistent with these two objectives. The Company’s investment policy limits investments to certain types of instruments issued by institutions with investment grade credit ratings and places restrictions on maturities and concentration by type and issuer. Investments in which the Company has the ability and intent, if necessary, to liquidate in order to support its current operations (including those with a contractual term greater than one year from the date of purchase) are classified as current. All of the Company’s investments are considered current. Realized gains were $11,000, $9,639, and $6,231, net of insignificant realized losses, for the years ended December 31, 2014, 2013, and 2012, respectively. Unrealized losses on investments recorded in other comprehensive income were $159,908 and $7,190 for the years ended December 31, 2014 and 2013, respectively. Unrealized gains on investments recorded in other comprehensive income were $45,808 and $132,663 for the years ended December 31, 2014 and 2013, respectively.
	Available‑for‑sale securities at December 31, 2014 consist of the following:



			December 31, 2014
						Gains in Accumulated			Losses in Accumulated
						Other Comprehensive			Other Comprehensive			Estimated Fair
	(In thousands)		Amortized Cost			Income			Income			Value
	Corporate bonds		$	141,239		$	21		$	-136		$	141,124
	U.S. government agency securities			18,687			8			-7			18,688
	Asset backed securities			60,821			17			-18			60,820
	Commercial paper			3,993			—			—			3,993
	Total available-for-sale securities		$	224,740		$	46		$	-161		$	224,625


	Available‑for‑sale securities at December 31, 2013 consist of the following:


			December 31, 2013
						Gains in Accumulated			Losses in Accumulated
						Other Comprehensive			Other Comprehensive			Estimated Fair
	(In thousands)		Amortized Cost			Income			Income			Value
	Corporate bonds		$	77,935		$	82		$	-7		$	78,010
	U.S. government agency securities			34,291			46			—			34,337
	Certificates of deposit			6,558			4			—			6,562
	Commercial paper			1,499			—			—			1,499
	Total available-for-sale securities		$	120,283		$	132		$	-7		$	120,408

	Changes in Accumulated Other Comprehensive Income (Loss)
	The amount recognized in accumulated other comprehensive income (loss) (AOCI) for the years ended December 31, 2014 and 2013 were as follows (in thousands):


			Year Ended December 31,
			2014			2013			2012
	Beginning balance		$	125		$	78		$	-14
	Other comprehensive (loss) income before reclassifications			-200			90			84
	Amounts reclassified from accumulated other comprehensive loss			-40			-43			8
	Net current period change in accumulated other comprehensive income (loss)			-240			47			92
	Ending balance		$	-115		$	125		$	78

	Amounts reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2014 and 2013 were as follows (in thousands):




			Affected Line Item in the		Year Ended December 31,
	Details about AOCI Components		Statement of Operations		2014			2013			2012
	Change in value of available-for-sale investments
	Sales and maturities of available-for-sale investments		Investment income		$	-40		$	-43		$	8
	Total reclassifications				$	-40		$	-43		$	8

	Property and Equipment
	Property and equipment are stated at cost and depreciated using the straight‑line method over the assets’ estimated useful lives. Maintenance and repairs are expensed when incurred; additions and improvements are capitalized. The estimated useful lives of fixed assets are as follows:


		Estimated
Asset Classification		Useful Life
Laboratory equipment		3 - 5 years
Office, computer equipment and computer software		3 years
Leasehold improvements		Lesser of the remaining lease term or useful life
Furniture and fixtures		3 years

Depreciation expense for the years ended December 31, 2014, 2013, and 2012 was $3.7 million, $1.4 million, and $1.0 million, respectively.
At December 31, 2014, the Company had $1.6 million of assets under construction which consisted of $1.2 million of capitalized costs related to software and computer hardware projects and $0.4 million of costs related to leasehold improvement projects. Depreciation will begin on these assets once they are placed into service. We expect that it will cost $0.2 million to complete the leasehold improvement projects and $0.1 million to complete the software projects, and these projects are expected to be completed in 2015.
Software Capitalization Policy
Software development costs related to internal use software are incurred in three stages of development: the preliminary project stage, the application development stage, and the post‑implementation stage. Costs incurred during the preliminary project and post‑implementation stages are expensed as incurred. Costs in the application development stage that meet the criteria for capitalization are capitalized and amortized using the straight‑line basis over the estimated economic useful life of the software.
Patent Costs
Patent costs, which have historically consisted of related legal fees, are capitalized as incurred, only if the Company determines that there is some probable future economic benefit derived from the transaction. The capitalized patents are amortized beginning when patents are approved over an estimated useful life of five years. Capitalized patent costs are expensed upon disapproval, upon a decision by the Company to no longer pursue the patent or when the related intellectual property is either sold or deemed to be no longer of value to the Company. The Company determined that all patent costs incurred during the year ended December 31, 2014, 2013 and 2012 should be expensed and not capitalized as the future economic benefit derived from the transactions cannot be determined.
Net Loss Per Share
Basic net loss per common share was determined by dividing net loss applicable to common stockholders by the weighted average common shares outstanding during the period. Basic and diluted net loss per share is the same because all outstanding common stock equivalents have been excluded, as they are anti‑dilutive as a result of the Company’s losses.
The following potentially issuable common shares were not included in the computation of diluted net loss per share because they would have an anti‑dilutive effect due to net losses for each period (amounts are in thousands):



		2014		2013		2012
Shares issuable upon exercise of stock options		4,934		6,063		6,182
Shares issuable upon exercise of outstanding warrants(1)		—		155		325
Shares issuable upon the release of restricted stock awards		1,541		1,151		814
Shares issuable upon the vesting of restricted stock awards related to licensing agreement		24		49		73
		6,499		7,418		7,394



	-1		At December 31, 2013, represents warrants to purchase 80,000 shares of common stock issued under a license agreement and warrants to purchase 75,000 shares of common stock issued under a consulting agreement. At December 31, 2012, represents warrants to purchase 250,000 shares of common stock issued under a licensing agreement and warrants to purchase 75,000 shares of common stock issued under a consulting agreement.

Accounting for Stock‑Based Compensation
The Company requires all share‑based payments to employees, including grants of employee stock options, restricted stock, restricted stock units and shares purchased under an ESPP (if certain parameters are not met), to be recognized in the financial statements based on their fair values.
Revenue Recognition
Laboratory service revenue. The Company’s revenues are primarily generated by the Cologuard test. Revenues are recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. The Company assesses whether the fee is fixed or determinable and if the collectability is reasonable based on the nature of the fee charged for the laboratory services delivered and whether there are existing contractual arrangements with customers, third-party commercial payors (insurance carriers and health plans) or coverage of the test by Centers for Medicare & Medicaid Services (CMS). In addition, when evaluating collectability, the Company considers factors such as collection experience for the healthcare industry, the financial standing of customers or third-party commercial payors, and whether it has sufficient collection history to reliably estimate a payor’s individual payment patterns.
A significant portion of laboratory service revenues earned by the Company will be initially recognized on a cash basis because the above criteria will not have been met at the time the test results are delivered. The Company generally bills third-party payors upon generation and delivery of a test result to the ordering physician following completion of a test. As such, the Company takes assignment of benefits and risk of collection with the third-party payor. Patients may have out-of-pocket costs for amounts not covered by their insurance reimbursement policies. Consequently, the Company pursues reimbursement on a case-by-case basis directly from the patient.
For laboratory services performed, where the collectability is not reasonably assured, the Company will continue to recognize revenues upon cash collection until it can reliably estimate the amount that would be ultimately collected for the Cologuard test. In order to begin to record revenue on an accrual basis in these scenarios, the Company expects to use at least several months of payment history, review the number of test paid against the number of tests billed, and consider the payor’s outstanding balance for unpaid test to determine whether payments are being made for a consistently high percentage of tests billed and at appropriate amounts given the contracted or historical payment amount. Cologuard became available upon FDA approval on August 11, 2014. The national coverage decision for Cologuard was released by CMS on October 9, 2014.
The Company recognized approximately $1.5 million in laboratory service revenue for the year ended December 31, 2014.
License fees. License fees for the licensing of product rights are recorded as deferred revenue upon receipt of cash and recognized as revenue on a straight‑line basis over the license period.
As more fully described in Note 3 below, in connection with the Company’s transaction with Genzyme Corporation, Genzyme agreed to pay the Company a total of $18.5 million, of which $16.65 million was paid on January 27, 2009 and $1.85 million was subject to a holdback by Genzyme to satisfy certain potential indemnification obligations in exchange for the assignment and licensing of certain intellectual property to Genzyme. The Company’s on‑going performance obligations to Genzyme under the Collaboration, License and Purchase Agreement (the “CLP Agreement”), as described below, including its obligation to deliver through licenses certain intellectual property improvements to Genzyme, if improvements are made during the initial five‑year collaboration period, were deemed to be undelivered elements of the CLP Agreement on the date of closing. Accordingly, the Company deferred the initial $16.65 million in cash received at closing and is amortizing that up‑front payment on a straight line basis into revenue over the initial five‑year collaboration period ending in January 2014. The Company received the first holdback amount of $962,000, which included accrued interest, due from Genzyme during the first quarter of 2010. The Company received the second holdback amount of $934,250 which included accrued interest due, from Genzyme during the third quarter of 2010. The amounts were deferred and were amortized on a straight‑line basis into revenue over the remaining term of the collaboration at the time of receipt.
In addition, Genzyme purchased 3,000,000 shares of common stock purchased from the Company on January 27, 2009 for $2.00 per share, representing a premium of $0.51 per share above the closing price of the Company’s common stock on that date of $1.49 per share. The aggregate premium paid by Genzyme over the closing price of the Company’s common stock on the date of the transaction of $1.53 million is deemed to be a part of the total consideration for the CLP Agreement. Accordingly, the Company deferred the aggregate $1.53 million premium and amortized that amount on a straight line basis into revenue over the initial five‑year collaboration period ending in January 2014.
The Company recognized approximately $0.3 million in license fee revenue for the year ended December 31, 2014 and $4.1 million in license fee revenue in connection with the amortization of the up‑front payments from Genzyme during the years ended December 31, 2013, and 2012, respectively.
Inventory
Inventory is stated at the lower of cost or market value (net realizable value). The Company determines the cost of inventory using the first-in, first out method (FIFO). The Company estimates the recoverability of inventory by reference to internal estimates of future demands and product life cycles, including expiration. The Company periodically analyzes its inventory levels to identify inventory that may expire prior to expected sale or has a cost basis in excess of its estimated realizable value, and records a charge to cost of sales for such inventory as appropriate. In addition, the Company’s products are subject to strict quality control and monitoring which the Company performs throughout the production process. If certain batches or units of product no longer meet quality specifications or become obsolete due to expiration, the Company records a charge to cost of sales to write down such unmarketable inventory to its estimated realizable value.
Direct and indirect manufacturing costs incurred during process validation and for other research and development activities, which are not permitted to be sold, have been expensed to research and development. Raw material inventory that was purchased in prior periods, and expensed to research and development, may still be on hand and used toward the production of commercial Cologuard, provided it has an appropriate remaining shelf life. This inventory is expected to provide a gross margin benefit to the Company in future periods of $0.7 million if the entirety of those balances were allocated to inventory produced for resale and not allocated to research and development activities.
The Company has invested in its manufacturing operations to support future demand for Cologuard. Because of this investment in the future, the Company is not currently operating at normal capacity. Charges related to excess capacity are included as current period charges to cost of sales, and are not capitalized into inventory. Total excess capacity charged to cost of sales during the year ended December 31, 2014 was $1.6 million.
Inventory consists of the following (amount in thousands):


		December 31,
		2014			2013
Raw Materials		$	1,019		$	—
Semi-finished and finished goods			2,998			—
Total inventory		$	4,017		$	—

Advertising Costs
The Company expenses the costs of media advertising at the time the advertising takes place. The Company expensed approximately $5.3 million, $0.1 million and $0.1 million of media advertising during the years ended December 31, 2014, 2013, and 2012, respectively.
Fair Value Measurements
The FASB has issued authoritative guidance which requires that fair value should be based on the assumptions market participants would use when pricing an asset or liability and establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy. The fair value hierarchy establishes and prioritizes the inputs used to measure fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs are inputs that reflect the assumptions that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
The three levels of the fair value hierarchy established are as follows:

Level 1	Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.
Level 2	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.
Level 3	Unobservable inputs that reflect the Company’s assumptions about the assumptions that market participants would use in pricing the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available.

Fixed‑income securities and mutual funds are valued using a third party pricing agency. The valuation is based on observable inputs including pricing for similar assets and other observable market factors. There has been no material change from period to period.
The following table presents the Company’s fair value measurements as of December 31, 2014 along with the level within the fair value hierarchy in which the fair value measurements in their entirety fall. Amounts in the table are in thousands.


					Fair Value Measurement at December 31, 2014 Using:
					Quoted Prices			Significant
					in Active			Other			Significant
					Markets for			Observable			Unobservable
		Fair Value at			Identical Assets			Inputs			Inputs
Description		December 31, 2014			(Level 1)			(Level 2)			(Level 3)
Cash and cash equivalents
Cash and money market		$	53,569		$	53,569		$	—		$	—
Corporate bonds			4,562			—			4,562			—
Available-for-Sale
Marketable securities
Corporate bonds			141,124			—			141,124			—
U.S. government agency securities			18,688			—			18,688			—
Asset backed securities			60,820			—			60,820			—
Commercial paper			3,993			—			3,993			—
Total		$	282,756		$	53,569		$	229,187		$	—

The following table presents the Company’s fair value measurements as of December 31, 2013 along with the level within the fair value hierarchy in which the fair value measurements in their entirety fall. Amounts in the table are in thousands.


					Fair Value Measurement at December 31, 2013 Using:
					Quoted Prices			Significant
					in Active			Other			Significant
					Markets for			Observable			Unobservable
		Fair Value at			Identical Assets			Inputs			Inputs
Description		December 31, 2013			(Level 1)			(Level 2)			(Level 3)
Cash and cash equivalents
Cash and money market		$	12,851		$	12,851		$	—		$	—
Available-for-Sale
Marketable securities
Corporate bonds			78,010			—			78,010			—
U.S. government agency securities			34,338			—			34,338			—
Certificates of deposit			6,561			—			6,561			—
Commercial paper			1,499			—			1,499			—
Total		$	133,259		$	12,851		$	120,408		$	—

The Company monitors investments for other-than-temporary impairment. It was determined that unrealized gains and losses at December 31, 2014 and 2013, are temporary in nature, because the change in market value for those securities has resulted from fluctuating interest rates, rather than a deterioration of the credit worthiness of the issuers. So long as the Company holds these securities to maturity, it is unlikely to experience gains or losses. In the event that the Company disposes of these securities before maturity, it is expected that realized gains or losses, if any, will be immaterial.
The following table summarizes the gross unrealized losses and fair values of investments in an unrealized loss position as of December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:





			31-Dec-14
			Less than 12 months					12 months or greater						Total
(In thousands)			Fair Value			Gross Unrealized Loss			Fair Value			Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
Marketable Securities
Corporate bonds		$	113,960		$	-136		$	—		$	—		$	113,960	$	-136
Asset backed securities			33,073			-18			—			—			33,073		-18
U.S. government agency securities			5,641			-7			—			—			5,641		-7
Total		$	152,674		$	-161		$	—		$	—		$	152,674	$	-161

The following table summarizes the gross unrealized losses and fair value of investments in an unrealized loss position as of December 31, 2013, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:


			31-Dec-13
			Less than 12 months					12 months or greater						Total
(In thousands)			Fair Value			Gross Unrealized Loss			Fair Value			Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
Marketable Securities
Corporate bonds		$	7,379		$	-6		$	—		$	—		$	7,379	$	-6
Asset backed securities			5,062			-1			—			—			5,062		-1
Commercial paper			1,499			—			—			—			1,499		—
Total		$	13,940		$	-7		$	—		$	—		$	13,940	$	-7


The following table summarizes contractual underlying maturities of the Company’s available‑for‑sale investments at December 31, 2014 (in thousands):




			Due one year or less					Due after one year through two years
Description			Cost			Fair Value			Cost			Fair Value
Marketable Securities
U.S. government agency securities		$	14,788		$	14,796		$	3,899		$	3,892
Corporate bonds			81,461			81,423			59,777			59,701
Commercial paper			3,993			3,993			—			—
Asset backed securities			—			—			60,821			60,820
Total		$	100,242		$	100,212		$	124,497		$	124,413


Concentration of Credit Risk
In accordance with GAAP, the Company is required to disclose any significant off‑balance‑sheet risk and credit risk concentration. The Company has no significant off‑balance‑sheet risk, such as foreign exchange contracts or other hedging arrangements. Financial instruments that subject the Company to credit risk consist of cash, cash equivalents and marketable securities. As of December 31, 2014, the Company had cash and cash equivalents deposited in financial institutions in which the balances exceed the federal government agency insured limit of $250,000 by approximately $57.1 million. The Company has not experienced any losses in such accounts and management believes it is not exposed to any significant credit risk.
Subsequent Events
The Company evaluates events that occur through the filing date and discloses those events or transactions that provide additional evidence with respect to conditions that existed at the date of the balance sheet. In addition, the financial statements are adjusted for any changes in estimates resulting from the use of such evidence.
Recent Accounting Pronouncements
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The update also creates a new Subtopic 340-40, Other Assets and Deferred Costs – Contracts with Customers, which provides guidance for the incremental costs of obtaining a contract with a customer and those costs incurred in fulfilling a contract with a customer that are not in the scope of another topic. The new revenue standard requires that entities should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entities expect to be entitled in exchange for those goods or services. To achieve that core principle, the standard requires a five step process of identifying the contracts with customers, identifying the performance obligations in the contracts, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, the performance obligations are satisfied. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. We are evaluating the impact that the adoption of this standard will have on our consolidated financial statements.

In August 2014, the FASB issued ASU No. 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 . The amendment is effective for the annual period beginning after December 15, 2016, and for annual and interim periods thereafter, with early adoption permitted. The amendment requires an entity’s management to evaluate for each annual and interim reporting period whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued or available to be issued. If substantial doubt is raised, further analysis and disclosures are required, including management’s plans to mitigate the adverse conditions or events.

In July 2013, the FASB issued ASU 2013-11 regarding the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This standard requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a net operating loss ("NOL") or tax credit carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This ASU requires entities to assess whether to net the unrecognized tax benefit with a deferred tax asset as of the reporting date. This guidance is effective for fiscal years beginning after December 15, 2013, with early adoption permitted. The Company adopted this guidance during the first quarter of 2014, and it did not have a material impact on the consolidated financial statements as we have a full valuation allowance against the deferred tax asset. Refer to footnote 13 for further description.
Reclassifications
Certain prior year amounts have been reclassified to conform to the current year presentation in the consolidated financial statements and accompanying notes to the consolidated financial statements.

GENZYME_STRATEGIC_TRANSACTION

GENZYME STRATEGIC TRANSACTION	12 Months Ended
GENZYME STRATEGIC TRANSACTION	Dec. 31, 2014
GENZYME STRATEGIC TRANSACTION
GENZYME STRATEGIC TRANSACTION	(3) GENZYME STRATEGIC TRANSACTION

	Transaction summary

	On January 27, 2009, the Company entered into a Collaboration, License and Purchase Agreement (the “CLP Agreement”) with Genzyme Corporation (“Genzyme”). Pursuant to the CLP Agreement, the Company (i) assigned to Genzyme all of its intellectual property applicable to the fields of prenatal and reproductive health (the “Transferred Intellectual Property”), (ii) granted Genzyme an irrevocable, perpetual, exclusive, worldwide, fully‑paid, royalty‑free license to use and sublicense all of the Company’s remaining intellectual property (the “Retained Intellectual Property”) in the fields of prenatal and reproductive health (the “Genzyme Core Field”), and (iii) granted Genzyme an irrevocable, perpetual, non‑exclusive, worldwide, fully‑paid, royalty‑free license to use and sublicense the Retained Intellectual Property in all fields other than the Genzyme Core Field and other than colorectal cancer detection and stool‑based disease detection (the “Company Field”). Following the transaction, the Company retained rights in its intellectual property to pursue only the fields of colorectal cancer detection and stool‑based detection of any disease or condition

	Pursuant to the Genzyme Strategic Transaction, Genzyme agreed to pay an aggregate of $18.5 million to the Company, of which $16.65 million was paid at closing and $1.85 million (the “Holdback Amount”) was subject to a holdback by Genzyme to satisfy certain potential indemnification obligations of the Company. Genzyme also agreed to pay a double‑digit royalty to the Company on income received by Genzyme as a result of any licenses or sublicenses to third parties of the Transferred Intellectual Property or the Retained Intellectual Property in any field other than the Genzyme Core Field or the Company Field.

	The Company’s on‑going performance obligations to Genzyme under the CLP, including the obligation to deliver certain intellectual property improvements to Genzyme, if improvements are made during the initial five year collaboration period, were deemed to be undelivered elements of the CLP Agreement on the date of closing. Accordingly, the Company deferred the initial $16.65 million in cash received at closing and is amortizing that up‑front payment on a straight line basis into the License Fee Revenue line item in its statements of operations over the initial five year collaboration period. The Company received the first holdback amount of $962,000, which included accrued interest, due from Genzyme during the first quarter of 2010. The Company received the second holdback amount of $934,250 which included accrued interest due, from Genzyme during the third quarter of 2010. The amounts were deferred and were amortized on a straight‑line basis into revenue over the remaining term of the collaboration through January 2014.

	In addition, the Company entered into a Common Stock Subscription Agreement with Genzyme on January 27, 2009, which provided for the private issuance and sale to Genzyme of 3,000,000 shares (the “Shares”) of the Company’s common stock, $0.01 par value per share, at a per share price of $2.00, for an aggregate purchase price of $6.0 million. The price paid by Genzyme for the Shares represented a premium of $0.51 per share above the closing price of the Company’s common stock on that date of $1.49 per share. The aggregate premium paid by Genzyme over the closing price of the Company’s common stock on the date of the transaction of $1.53 million is included as a part of the total consideration for the CLP. Accordingly, the Company deferred the aggregate $1.53 million premium and amortized that amount on a straight line basis into the License fees line item in the Company’s statements of operations over the initial five‑year collaboration period.

	The Company recognized approximately $0.3 million in license fee revenue in connection with the amortization of the up-front payments and holdback amounts from Genzyme during the year ended December 31, 2014. The Company recognized approximately $4.1 million in license fee revenue in connection with the amortization of the up‑front payments and holdback amounts from Genzyme during each of the years ended December 31, 2013 and 2012.

MAYO_LICENSE_AGREEMENT

MAYO LICENSE AGREEMENT	12 Months Ended
MAYO LICENSE AGREEMENT	Dec. 31, 2014
MAYO LICENSE AGREEMENT
MAYO LICENSE AGREEMENT	(4) MAYO LICENSE AGREEMENT
	Overview
	On June 11, 2009, the Company entered into a license agreement (the “License Agreement”) with MAYO Foundation for Medical Education and Research (“MAYO”). Under the License Agreement, MAYO granted the Company an exclusive, worldwide license within the field (the “Field”) of stool or blood based cancer diagnostics and screening (excluding a specified proteomic target) with regard to certain MAYO patents, and a non‑exclusive worldwide license within the Field with regard to certain MAYO know‑how. The licensed patents cover advances in sample processing, analytical testing and data analysis associated with non‑ invasive, stool‑based DNA screening for colorectal cancer. Under the License Agreement, the Company assumes the obligation and expense of prosecuting and maintaining the licensed patents and is obligated to make commercially reasonable efforts to bring products covered by the license to market. Pursuant to the License Agreement, the Company granted MAYO two common stock purchase warrants with an exercise price of $1.90 per share covering 1,000,000 and 250,000 shares of common stock, respectively. The Company is also required to make payments to MAYO for up‑front fees, fees once certain milestones are reached by the Company, and other payments as outlined in the License Agreement. In addition to the license to intellectual property owned by MAYO, the Company receives product development and research and development efforts from MAYO personnel. The Company is also obligated to make royalty payments to MAYO on potential future net sales of any products developed from the licensed technology. The Company sought rights to the MAYO intellectual property for the specific purpose of developing a non‑invasive, stool‑based DNA screening test for colorectal cancer. At the time the license agreement was executed, the sole focus of the Company was the development of such a test. Accordingly, the Company recognized the initial payments and expense related to the warrants at the time of the transaction and the amounts were expensed to research and development as there were no anticipated alternative future uses associated with the intellectual property.

	Warrants
	The warrants granted to MAYO were valued using a Black‑Scholes pricing model at the date of the grant. The warrants were granted with an exercise price of $1.90 per share of common stock. The grant to purchase 1,000,000 shares was immediately exercisable and the grant to purchase 250,000 shares vests and became exercisable over a four year period.

	The warrant covering 1,000,000 shares was fully exercised as of September 2011.

	In January of 2013, MAYO partially exercised its warrant covering 250,000 shares by utilizing the cashless exercise provision contained in the warrant. As a result of this exercise for a gross amount of 85,000 shares, in lieu of paying a cash exercise price, MAYO forfeited its right with respect to 14,008 shares leaving it with a net amount of 70,992 shares.

	In June of 2013, MAYO partially exercised this warrant by utilizing the cashless exercise provision contained in the warrant. As a result of this exercise for a gross amount of 85,000 shares, in lieu of paying a cash exercise price, MAYO forfeited its right with respect to 12,765 shares leaving it with a net amount of 72,235 shares.

	In June of 2014, MAYO exercised the remaining shares of this warrant by utilizing the cashless exercise provision contained in the warrant. As a result of this exercise for a gross amount of 80,000 shares, in lieu of paying a cash exercise price, MAYO forfeited its right with respect to 10,587 shares leaving it with a net amount of 69,413 shares. Following this exercise, all of MAYO’s warrants to purchase the Company’s common stock were fully exercised.

	Royalty Payments
	The Company will make royalty payments to MAYO based on a percentage of net sales of products developed from the licensed technology starting in the third year of the agreement. Minimum royalty payments were $10,000 in 2012, $25,000 in each of 2013 and 2014 and will be $25,000 per year thereafter through 2033, the year the last patent expires.
	Other Payments
	Other payments under the License Agreement include an upfront payment of $80,000, a milestone payment of $250,000 on the commencement of patient enrollment in a human cancer screening clinical, and a $500,000 payment upon FDA approval of the Company’s Cologuard test. The upfront payment of $80,000 was made in the third quarter of 2009 and expensed to research and development in the second quarter of 2009. The Company began enrollment in its FDA trial in June 2011 and the milestone payment of $250,000 was made and expensed to research and development in June 2011. The Company received FDA approval for its Cologuard test in August 2014 and the milestone payment of $500,000 was made and expensed to research and development in August 2014.
	In addition, the Company is paying MAYO for research and development efforts. As part of the Company’s research collaboration with MAYO, the Company has incurred charges of $2.3 million and has made payments of $0.7 million for the year ended December 31, 2014. The Company has recorded an estimated liability in the amount of $1.4 million for research and development efforts as of December 31, 2014. The Company incurred $1.7 million and made payments of $1.0 million for the year ended December 31, 2013. The Company recorded an estimated liability in the amount of $0.7 million for research and development efforts at December 31, 2013. The Company incurred charges of $1.2 million and made payments of $1.1 million for the year ended December 31, 2012.
	May 2012 Amendment
	In May 2012 the Company expanded the relationship with MAYO through an amendment to the License Agreement. As part of the amendment, MAYO expanded the Company’s license to include all gastrointestinal cancers and diseases, and new cancer screening applications of stool‑ and blood‑based testing. As consideration for the expanded license, the Company granted MAYO 97,466 shares of restricted stock, one quarter of which vested immediately, with the remainder to vest in three equal annual installments. The Company recognized $1.0 million in research and development licensing expense during the twelve months ended December 31, 2012 in connection with the restricted stock grant. The Company sought rights to the Mayo intellectual property for the specific purpose of developing future non‑invasive, stool‑based DNA screening tests for gastrointestinal diseases other than colorectal cancer. The Company does not believe there are alternative future uses for the intellectual property. In addition, at the time the restricted stock grant expense was recorded for the intellectual property license, the Company believed it was unlikely they would proceed with the tests for other gastrointestinal diseases unless the significant risks related to the colorectal cancer screening test receiving FDA approval were mitigated. Because of the significant uncertainty of receiving FDA approval for the colorectal cancer diagnostic, coupled with the uncertainty associated with funding future development of tests for other gastrointestinal diseases, the Company could not conclude that commencement of any future projects related to the acquired intellectual property was reasonably expected at the time of this license agreement amendment.
	As part of the amendment, the Company will also be responsible for making additional restricted stock grants to MAYO as certain milestones are met with respect to commercial launch of the Company’s second and third licensed products. Additionally, the Company will make milestone payments once certain sales levels are reached on the second and third licensed products. It is uncertain as to when or if these milestones will be met; therefore, the milestone payments have not been recorded as a liability. The Company evaluates the status of the milestone payments at each reporting date to determine if a liability should be recorded for the milestone payment.

ISSUANCES_OF_EQUITY

ISSUANCES OF EQUITY	12 Months Ended
ISSUANCES OF EQUITY	Dec. 31, 2014
ISSUANCES OF EQUITY
ISSUANCES OF EQUITY	(5) ISSUANCES OF EQUITY
	Underwritten Public Offerings
	On August 13, 2012, the Company completed an underwritten public offering of 6.3 million shares of common stock at a price of $9.75 per share to the public. The Company received approximately $57.8 million of net proceeds from the offering, after deducting $3.9 million for the underwriting discount and other stock issuance costs paid by the Company.
	On June 21, 2013, the Company completed an underwritten public offering of 6.3 million shares of common stock at a price of $12.35 per share to the public. The Company received approximately $73.3 million of net proceeds from the offering, after deducting $4.8 million for the underwriting discount and other stock issuance costs paid by the Company.
	On April 2, 2014, the Company completed an underwritten public offering of 11.5 million shares of common stock at a price of $12.75 per share to the public. The Company received approximately $137.7 million of net proceeds from the offering, after deducting the $8.9 million for the underwriting discount and other stock issuance costs paid by the Company.
	On December 16, 2014, the Company completed an underwritten public offering of 4.0 million shares of common stock at a price of $25.75 per share to the public. The Company received approximately $100.9 million of net proceeds from the offering, after deducting $2.1 million for the underwriting discount and other stock issuance costs paid by the Company.
	Rights Agreement
	In February 2011, the Company adopted a rights agreement and subsequently distributed to the Company’s stockholders preferred stock purchase rights. Under certain circumstances, each right can be exercised for one one‑thousandth of a share of Series A Junior Participating Preferred Stock. In general, the rights will become exercisable in the event of an announcement of an acquisition of 15% or more of the Company’s outstanding common stock or the commencement or announcement of an intention to make a tender offer or exchange offer for 15% or more of the Company’s outstanding common stock. If any person or group acquires 15% or more of the Company’s common stock, the Company’s stockholders, other than the acquiror, will have the right to purchase additional shares of the Company’s common stock (in lieu of the Series A Junior Participating Preferred Stock) at a substantial discount to the then prevailing market price. The rights agreement could significantly dilute such acquiror’s ownership position in the Company’s shares, thereby making a takeover prohibitively expensive and encouraging such acquiror to negotiate with the Company’s board of directors. The ability to exercise these rights is contingent on events that the Company has determined to be unlikely at this time, and therefore this provision has not been considered in the computation of equity or earnings per share.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
STOCK-BASED COMPENSATION	Dec. 31, 2014
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	(6) STOCK‑BASED COMPENSATION
	Stock‑Based Compensation Plans
	The Company maintains the 2010 Omnibus Long‑Term Incentive Plan, the 2010 Employee Stock Purchase Plan and the 2000 Stock Option and Incentive Plan (collectively, the “Stock Plans”).
	2000 Stock Option and Incentive Plan The Company adopted the 2000 Option and Incentive Plan (the “2000 Option Plan”) on October 17, 2000. The 2000 Option Plan expired October 17, 2010 and after such date no further awards could be granted under the plan. Under the terms of the 2000 Option Plan, the Company was authorized to grant incentive stock options, as defined under the Internal Revenue Code, non‑ qualified options, restricted stock awards and other stock awards to employees, officers, directors, consultants and advisors. Options granted under the 2000 Option Plan expire ten years from the date of grant. Grants made from the 2000 Option Plan generally vest over a period of three to four years.
	The 2000 Option Plan was administered by the compensation committee of the Company’s board of directors, which selected the individuals to whom equity‑based awards would be granted and determined the option exercise price and other terms of each award, subject to the provisions of the 2000 Option Plan. The 2000 Option Plan provides that upon an acquisition of the Company, all options to purchase common stock will accelerate by a period of one year. In addition, upon the termination of an employee without cause or for good reason prior to the first anniversary of the completion of the acquisition, all options then outstanding under the 2000 Option Plan held by that employee will immediately become exercisable. At December 31, 2014, options to purchase 3,358,800 shares were outstanding under the 2000 Option Plan. There were no shares of restricted stock outstanding under the 2000 Option Plan.
	2010 Omnibus Long‑Term Incentive Plan The Company adopted the 2010 Omnibus Long‑Term Incentive Plan (the “2010 Stock Plan”) on July 16, 2010. The 2010 Stock Plan will expire on July 16, 2020 and after such date no further awards may be granted under the plan. Under the terms of the 2010 Stock Plan, the Company is authorized to grant incentive stock options, as defined under the Internal Revenue Code, non‑ qualified options, restricted stock awards and other stock awards to employees, officers, directors, consultants and advisors. Options granted under the 2010 Stock Plan expire ten years from the date of grant. Grants made from the 2010 Stock Plan generally vest over a period of three to four years.
	The 2010 Stock Plan is administered by the compensation committee of the Company’s board of directors, which selects the individuals to whom equity‑based awards will be granted and determines the option exercise price and other terms of each award, subject to the provisions of the 2010 Stock Plan. The 2010 Stock Plan provides that upon an acquisition of the Company, all equity will accelerate by a period of one year. In addition, upon the termination of an employee without cause or for good reason prior to the first anniversary of the completion of the acquisition, all equity awards then outstanding under the 2010 Stock Plan held by that employee will immediately vest. At December 31, 2014, options to purchase 1,575,517 shares were outstanding under the 2010 Stock Plan and 1,541,114 shares of restricted stock and restricted stock units were outstanding. At December 31, 2014, there were 1,638,187 shares available for future grant under the 2010 Stock Plan.
	2010 Employee Stock Purchase Plan The 2010 Employee Stock Purchase Plan (the “2010 Purchase Plan”) was adopted by the Company on July 16, 2010. The 2010 Purchase Plan provides participating employees the right to purchase common stock at a discount through a series of offering periods. The 2010 Purchase Plan will expire on October 31, 2020. On July 24, 2014 the stockholders of Exact Sciences Corporation approved an amendment to the 2010 Employee Stock Purchase Plan to increase the number of shares available for purchase thereunder by 500,000 shares. At December 31, 2014, there were 540,177 shares of common stock available for purchase by participating employees under the 2010 Purchase Plan.
	The compensation committee of the Company’s board of directors administers the 2010 Purchase Plan. Generally, all employees whose customary employment is more than 20 hours per week and more than five months in any calendar year are eligible to participate in the 2010 Purchase Plan. Participating employees authorize an amount, between 1% and 15% of the employee’s compensation, to be deducted from the employee’s pay during the offering period. On the last day of the offering period, the employee is deemed to have exercised the employee’s option to purchase shares of Company common stock, at the option exercise price, to the extent of accumulated payroll deductions. Under the terms of the 2010 Purchase Plan, the option exercise price is an amount equal to 85% of the fair market value, as defined under the 2010 Purchase Plan and no employee can purchase more than $25,000 of Company common stock under the 2010 Purchase Plan in any calendar year. Rights granted under the 2010 Purchase Plan terminate upon an employee’s voluntary withdrawal from the 2010 Purchase Plan at any time or upon termination of employment. At December 31, 2014, there were 259,823 cumulative shares issued under the 2010 Purchase Plan, and 88,166 shares were issued in the year ended December 31, 2014, as follows:


					Weighted Average
	Offering period ended		Number of Shares		price per Share
	April 30, 2014		40,846		$	8.25
	October 31, 2014		47,320		$	8.95

	Stock‑Based Compensation Expense
	The Company recorded approximately $11.5 million in stock‑based compensation expense during the year ended December 31, 2014, in connection with the amortization of restricted stock and restricted stock unit awards, stock purchase rights granted under the Company’s employee stock purchase plan and stock options granted to employees, non‑employee consultants and non‑employee directors. The Company recorded $7.7 million in stock‑based compensation expense during the year ended December 31, 2013 in connection with the amortization of restricted stock and restricted stock unit awards, stock purchase rights granted under the Company’s employee stock purchase plan and stock options granted to employees and non‑employee directors. The Company recorded approximately $5.5 million in stock‑based compensation expense during the year ended December 31, 2012 in connection with the amortization of awards of common stock, restricted common stock and stock options granted to employees, non‑employee directors and non‑employee consultants. Non‑cash stock‑based compensation expense by department for the years ended December 31, 2014, 2013, and 2012 are as follows, and amounts included in the table are in thousands:


			December 31,
			2014			2013			2012
	Cost of sales		$	279		$	—		$	—
	Research and development			4,135			2,817			2,396
	General and administrative			5,589			3,054			2,579
	Sales and marketing			1,517			1,873			518
	Total stock-based compensation		$	11,520		$	7,744		$	5,493

	In connection with the June 7, 2013 resignation of the Company’s former Chief Commercial Officer, the Company modified the vesting of 100,000 shares of her previously unvested restricted stock units of which 41,250 of the restricted stock units vested upon the execution of the separation agreement, 10,000 will vest in March 2014, and the remaining 48,750 will vest in twenty‑four equal monthly installments beginning in April 2014, subject to her continuing compliance with the terms of the separation agreement. She forfeited all other unvested restricted stock units and stock option awards. It was determined that the continuing compliance and service to be provided to the Company under the separation agreement was not substantive and, as a result, the Company recorded the full value of the modified restricted stock units as additional stock‑based compensation expense in the second quarter of 2013.
	Determining Fair Value
	Valuation and Recognition—The fair value of each option award is estimated on the date of grant using the Black‑Scholes option‑pricing model based on the assumptions in the table below. The estimated fair value of employee stock options is recognized to expense using the straight‑line method over the vesting period.
	Expected Term—The Company uses the simplified calculation of expected life, described in the SEC’s Staff Accounting Bulletins 107 and 110, as the Company does not currently have sufficient historical exercise data on which to base an estimate of expected life. Using this method, the expected term is determined using the average of the vesting period and the contractual life of the stock options granted.
	Expected Volatility—Expected volatility is based on the Company’s historical stock volatility data over the expected term of the awards.
	Risk‑Free Interest Rate—The Company bases the risk‑free interest rate used in the Black‑Scholes valuation model on the implied yield currently available on U.S. Treasury zero‑coupon issues with an equivalent expected term.
	Forfeitures—The Company records stock‑based compensation expense only for those awards that are expected to vest. A forfeiture rate is estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. The Company’s forfeiture used in the twelve months ended December 31, 2014, 2013 and 2012 was 4.99%, 2.76%, and 1.38%, respectively.
	The fair value of each restricted stock and restricted stock unit award is determined on the date of grant using the closing stock price on that day. The fair value of each option award is estimated on the date of grant using the Black‑Scholes option pricing model based on the assumptions in the following table:


			December 31,
			2014		2013		2012
	Option Plan Shares
	Risk-free interest rates		1.96% - 2.01%		0.94% - 1.73%		0.81% - 1.00%
	Expected term (in years)		6		6		6
	Expected volatility		77.6% - 80.8%		82.9% - 84.0%		85% - 92%
	Dividend yield		0%		0%		0%
	Weighted average fair value per share of options granted during the period		$10.05		$8.12		$6.90
	ESPP Shares
	Risk-free interest rates		0.1% - 0.5%		0.1% - 0.33%		0.18% - 0.30%
	Expected term (in years)		0.5 - 2		0.5 - 2		0.5 - 2
	Expected volatility		42.5% - 62.7%		39.1% - 45.6%		34.0% - 54.9%
	Dividend yield		0%		0%		0%
	Weighted average fair value per share of stock purchase rights granted during the period		$6.30		$3.13		$2.84


	Stock Option, Restricted Stock, and Restricted Stock Unit Activity
	A summary of stock option activity under the Stock Plans during the years ended 2014, 2013 and 2012 is as follows:



								Weighted
					Weighted			Average
					Average			Remaining		Aggregate
					Exercise			Contractual		Intrinsic
	Options		Shares		Price			Term (Years)		Value(1)
(Aggregate intrinsic value in thousands)
Outstanding, January 1, 2012		6,453,584		$	2.27
Granted		499,198			9.18
Exercised		-691,471			3.45
Forfeited		-79,375			7.6
Outstanding, December 31, 2012		6,181,936		$	2.62
Granted		290,570			11.36
Exercised		-274,919			5.17
Forfeited		-135,000			10.08
Outstanding, December 31, 2013		6,062,587		$	2.78		6.6
Granted		266,477			14.28
Exercised		-1,378,372			1.91
Forfeited		-16,375			6.37
Outstanding, December 31, 2014		4,934,317		$	3.63		5.2		$	117,503
Exercisable, December 31, 2014		4,186,502		$	2.27		4.7		$	105,384
Vested and expected to vest, December 31, 2014		4,897,001		$	3.57		5.2		$	116,898



	-1		The aggregate intrinsic value of options outstanding at December 31, 2014 is calculated as the difference between the exercise price of the underlying options and the market price of the Company’s common stock for the 4,934,317 options that had exercise prices that were lower than the $27.44 market price of our common stock at December 31, 2014. The aggregate intrinsic value of options exercisable at December 31, 2014 is calculated as the difference between the exercise price of the underlying options and the market price of the Company’s common stock for the 4,186,502 options that had exercise prices that were lower than the $27.44 market price of our common stock at December 31, 2014. The total intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $29.2 million, $1.9 million, $4.5 million, respectively, determined as of the date of exercise.

Warrants to purchase 75,000 shares of common stock were issued in connection with a consulting agreement in 2009 to provide specific assistance to the Company in attaining FDA approval of Cologuard. The 75,000 warrants vested in the third quarter of 2014 upon successful approval for Cologuard. The Company recorded $1.3 million, the fair value of the warrant on the vesting date as stock-based compensation expense during the third quarter of 2014 in connection with the vesting of this warrant.
A summary of restricted stock and restricted stock unit activity under the Stock Plans during the years ended December 31, 2014, 2013 and 2012 is as follows:

				Weighted
		Restricted		Average Grant
		Shares		Date Fair Value
Outstanding, January 1, 2012		401,490		$	6.24
Granted		602,268			9.47
Released		-185,116			5.67
Forfeited		-4,687			7.69
Outstanding, December 31, 2012		813,955		$	8.51
Granted		1,147,553			11.76
Released		-344,611			8.56
Forfeited		-466,203			9.73
Outstanding, December 31, 2013		1,150,694		$	11.23
Granted		926,171			15.61
Released		-491,370			11.17
Forfeited		-44,381			12.44
Outstanding, December 31, 2014		1,541,114		$	13.86

As of December 31, 2014, there was approximately $19.5 million of total unrecognized compensation cost related to non‑vested share‑based compensation arrangements granted under all equity compensation plans. Total unrecognized compensation cost will be adjusted for future changes in forfeitures. The Company expects to recognize that cost over a weighted average period of 2.8 years.
The Company received approximately $2.6 million, $1.3 million and $2.4 million from stock option exercises during the years ended December 31, 2014, 2013 and 2012, respectively. During the years ended December 31, 2014, 2013 and 2012, 88,166, 59,932 and 63,611 shares of common stock, respectively, were issued under the Company’s 2010 Purchase Plan resulting in proceeds to the company of $0.8 million, $0.5 million and $0.4 million, respectively.
The following table summarizes information relating to currently outstanding and exercisable stock options as of December 31, 2014:

		Outstanding							Exercisable
				Weighted
				Average		Weighted					Weighted
				Remaining		Average					Average
		Number of		Contractual		Exercise			Number of		Exercise
Exercise Price		Options		Life (Years)		Price			Options		Price
$0.00 - $1.00		2,887,500		4.2		$	0.83		2,887,500		$	0.83
$1.01 - $3.00		438,000		4.6			2.79		438,000			2.79
$3.01 - $5.00		319,347		5.5			3.95		319,347			3.95
$5.01 - $7.00		184,960		6.2			5.94		122,273			6.01
$7.01 - $9.00		141,248		6.5			8.16		127,623			8.22
$9.01 - $11.00		646,785		7.5			9.65		279,259			9.49
$11.01 - $15.00		283,000		9.0			14.04		12,500			14.4
$15.01- $16.52		33,477		9.6			16.52		—			—
		4,934,317		5.2		$	3.63		4,186,502		$	2.27


During the first quarter of 2012, the Company granted a total of 262,500 restricted stock units to certain executives that would have vested based upon the satisfaction of certain service and performance conditions. The Company performed an evaluation of internal and external factors, and determined the number of shares that were most likely to vest based on the probability of what performance conditions were met. The expense for the fair value of the awards that were expected to vest of $0.6 million was recognized during the year ended December 31, 2012. The service and performance conditions were not met and the expense of $0.6 million was reversed in the first quarter of the year ended December 31, 2013.
During the first quarter of 2013, the Company granted a total of 180,750 restricted stock units to certain executives that vest based upon the satisfaction of certain 2013 performance conditions. Based on the conditions that were met 100,800 shares were earned. The shares vest equally over three years with the first vesting date at December 31, 2013. The company recognized $0.4 million during the year ended December 31, 2013 related to this restricted stock unit grant.
Shares Reserved for Issuance
The Company has reserved shares of its authorized common stock for issuance pursuant to its employee stock purchase and stock option plans, including all outstanding stock option grants noted above at December 31, 2014, as follows:


Shares reserved for issuance
2010 Option Plan		1,638,187
2010 Purchase Plan		540,177
		2,178,364

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	(7) COMMITMENTS AND CONTINGENCIES
	Operating Leases
	During November 2009, the Company entered into a five year lease for a 17,500 square foot laboratory office facility in Madison, Wisconsin. This lease contains periodic rent escalation adjustments. During November 2010, the Company entered into an amended lease agreement to lease an additional 7,072 square feet of laboratory and office space for a total of 24,572 square feet The amended agreement covers the same term as the original term and is also subject to periodic rent escalation adjustments. During March 2012, the Company entered into an amended lease agreement to lease an additional 10,428 square feet of laboratory and office space for a total of 35,000 square feet. The amended agreement covers the same term as the original term and is also subject to periodic rent escalation adjustments. During November 2014, the Company entered into an amended lease agreement to extend the terms of the lease on the 35,000 square feet of laboratory and office space. The lease is not subject to periodic rent escalation adjustments.
	During the second quarter of 2013, the Company entered into a five year lease for a 29,000 square foot facility in Madison, Wisconsin that is to house its commercial lab operations. This lease contains periodic rent escalation adjustments and includes provisions for tenant improvements. During August 2014, the Company entered into an amended lease agreement to lease an additional 3,189 square feet of office space to house its contact center operations. The amended agreement covers the same term as the original term and is also subject to periodic rent escalation adjustments. During November 2014, the Company entered into an amended lease agreement to lease to lease adjacent land for the construction of a parking lot. The amended agreement covers the same term as the original term and is also subject to periodic rent escalation adjustments. The Company has two options to extend the term of the lease for five years each.
	As part of the lease agreement, the landlord agreed to pay for a portion of leasehold improvements constructed. These payments are recorded as a lease incentive obligation and will be amortized over the five year term of the lease as a reduction of rent expense. As of December 31, 2014, the lease incentive obligation was $2.7 million. Construction of the laboratory facility was substantially complete at December 31, 2013 and the leasehold improvements related to the laboratory were placed into service. The amortization of the lease incentive obligation began in December of 2013. As part of August 2014 amendment, the landlord has agreed to pay for a portion of leasehold improvements constructed. These payments are recorded as a lease incentive obligation and will be amortized over the remaining lease term as a reduction of rent expense. As of December 31, 2014, the lease incentive obligation was $53.0 thousand. The amortization of the lease incentive obligation began in November of 2014.
	During November 2014, the Company entered into a two year lease agreement for a 620 square foot office facility in London, United Kingdom that is to house European operations. This lease contains periodic rent escalation adjustments.
	Future minimum payments under operating leases as of December 31, 2014 are as follows. Amounts included in the table are in thousands.


	Year Ending December 31,
	2015	$	1,310
	2016		1,225
	2017		763
	2018		704
	2019		—
	Thereafter		—
	Total lease obligations	$	4,002
	Rent expense included in the accompanying consolidated statements of operations was approximately $1.0 million, $0.7 million, and $0.4 million for the years ended December 31, 2014, 2013 and 2012, respectively.
	During the fourth quarter of 2009, the Company entered into a sublease agreement (the “2009 Sublease Agreement”) with an unrelated party to sublease approximately 5,086 square feet of rentable area in the Company’s Madison facility. The term of the 2009 Sublease Agreement, which commenced on November 1, 2009, was 36 months. The Company has received approximately $0.2 million in sublease payments over the life of the 2009 Sublease Agreement. Pursuant to the Sublease Agreement, the unrelated party has no rights to renew or extend the 2009 Sublease Agreement. The Company did not receive sublease payments in 2014 or 2013. The Company received $66,800 in sublease payments in 2012. The 2009 Sublease Agreement expired on November 1, 2012.
	License Agreements
	The Company licenses, on a non‑exclusive basis, certain technologies that are, or may be, incorporated into its technology under several license agreements. Generally, the license agreements require the Company to pay royalties based on net revenues received using the technologies, and may require minimum royalty amounts or maintenance fees.
	MAYO
	On June 11, 2009, the Company entered into a patent licensing agreement with MAYO. Under the license agreement, MAYO granted the Company an exclusive, worldwide license within the field of stool or blood based cancer diagnostics and screening (excluding a specified proteomic target) with regard to certain MAYO patents and patent applications, as well as a non‑exclusive, worldwide license within such field with regard to certain MAYO know‑how. The licensed MAYO patents and patent applications contain both method and composition‑of‑matter claims that relate to sample processing, analytical testing and data analysis associated with nucleic screening for cancers and other diseases. The jurisdictions covered by these patents and patent applications include the U.S., Canada, the European Union and Japan. In addition to granting the Company a license to the covered MAYO intellectual property, MAYO agreed to make available personnel to provide the Company product development and research and development assistance.
	Under the license agreement, the Company assumed the obligation and expense of prosecuting and maintaining the licensed MAYO patents and is obligated to make commercially reasonable efforts to bring to market products using the licensed MAYO intellectual property. Pursuant to the license agreement, the Company granted MAYO two common stock purchase warrants with an exercise price of $1.90 per share covering 1,000,000 and 250,000 shares of common stock. The Company agreed to pay MAYO a low single digit royalty on the Company’s net sales of products using the licensed MAYO intellectual property. The Company was also required to pay minimum annual royalty fees of $10,000 on June 12, 2012 and $25,000 on June 12, 2013 and June 12, 2014. The Company is required to continue to pay minimum annual royalty fees of $25,000 each year through 2033.. The MAYO license agreement required various other payments, including an upfront payment of $80,000, which the Company paid in the third quarter of 2009, a milestone payment of $250,000 on the commencement of patient enrollment in FDA trials for the Company’s Cologuard pre‑cancer and cancer screening test, which the Company paid in June 2011 The Company received FDA approval for its Cologuard test in August 2014, and the milestone payment of $500,000 was made and expensed to research and development in August 2014.
	In May 2012 the Company expanded its relationship with MAYO through an amendment to the license agreement. As part of the amendment, MAYO expanded the license to include all gastrointestinal cancers and diseases, and new cancer screening applications of stool‑ and blood‑based testing. As consideration for the expanded license, the Company granted MAYO 97,466 shares of its common stock, one quarter of which vested immediately, with the remainder to vest in three equal annual installments. The Company sought rights to the MAYO intellectual property for the specific purpose of developing future non‑invasive, stool‑based DNA screening tests for gastrointestinal diseases other than colorectal cancer. In addition, the Company agreed to issue MAYO shares of the Company’s common stock with a value of $200,000 upon commercial launch of the Company’s second and third products that use the licensed MAYO intellectual property. Additionally, the Company agreed in the amendment to pay MAYO, for each of the Company’s products that use licensed MAYO intellectual property, $200,000 cash upon such product reaching $5 million in cumulative net sales, $750,000 cash upon such product reaching $20 million in cumulative net sales, and $2 million cash upon such product reaching $50 million in cumulative net sales.
	See Note 4 for additional information related to the MAYO license agreement.
	Hologic
	On October 14, 2009, the Company entered into a technology license agreement with Hologic, Inc. (“Hologic”). Under the license agreement, Hologic granted the Company an exclusive, worldwide license within the field of human stool based colorectal cancer and pre‑cancer detection or identification with regard to certain Hologic patents, patent applications and improvements, including Hologic’s Invader detection chemistry (the “Covered Hologic IP”). The licensed patents and patent applications contain both method and composition‑of‑matter claims. The jurisdictions covered by these patents and patent applications include the U.S., Canada, the European Union, Australia and Japan. The license agreement also provided the Company with non‑exclusive, worldwide licenses to the Covered Hologic IP within the field of clinical diagnostic purposes relating to colorectal cancer (including cancer diagnosis, treatment, monitoring or staging) and the field of detection or identification of colorectal cancer and pre‑cancers through means other than human stool samples. In December 2012 the Company entered into an amendment to this license agreement with Hologic pursuant to which Hologic granted the Company a non‑exclusive worldwide license to the Covered Hologic IP within the field of any disease or condition within, related to or affecting the gastrointestinal tract and/or appended mucosal surfaces.
	The Company paid Hologic $50,000 upon executing the license agreement in 2009 and $100,000 when the Company began enrollment in its FDA trial in June 2011. The Company is required to pay Hologic a low single digit royalty on the Company’s net sales of products using the Covered Hologic IP. The Company received FDA approval for its Cologuard test in August 2014, and the milestone payment of $100,000 was made and expensed to research and development in August 2014.
	MDx Health
	On July 26, 2010, the Company entered into a technology license and royalty agreement with MDx Health (formerly Oncomethylome Sciences, S.A.). Under the license agreement, MDx Health granted the Company a royalty bearing exclusive, worldwide license to certain patents. Under the licensing agreement, the Company is obligated to make commercially reasonable efforts to bring products covered by the license agreement to market. The Company is required to pay MDx Health a minimum royalty fee of $100,000 on each anniversary of the agreement for the life of the contract. The Company also agreed to pay $100,000 upon the first commercial sale of a licensed product after the receipt of FDA approval and $150,000 after the Company has reached net sales of $10 million of a licensed product after receipt of FDA approval, $750,000 after the Company has reached net sales of $50 million, and $1 million after the Company has reached net sales of $50 million in a single calendar year. The Company is also required to pay MDx Health a royalty fee based on a certain percentage of the Company’s net sales of the licensed products.
	The Company has recorded research and development expense associated with license agreements of $2.3 million, $1.8 million, and $1.4 million, respectively, for the years ended December 31, 2014, 2013 and 2012. Future minimum payments due under the Company’s technology licenses as of December 31, 2014 are as follows. Amounts included in the table are in thousands.


	Year ending December 31,
	2015	$	698
	2016		256
	2017		256
	2018		256
	2019		256
	Thereafter		1,775
		$	3,497


	Capital Lease
	In 2012 the Company entered into a lease agreement which is accounted for as a capital lease. The leased equipment is recorded at $1.2 million and is included in the balance sheet as laboratory equipment. The cost of the leased equipment is depreciated over the three year lease term, and the expense is recorded as depreciation expense. Accumulated depreciation of the leased equipment at December 31, 2014 was approximately $674.5 thousand. The Company is required to make principal and interest payments of approximately $32,000 per month over the three year term of the lease agreement.
	The future minimum lease payments required under the capital lease and the present value of the net minimum lease payments as of December 31, 2014 are as follows (in thousands):


	Year ending December 31,
	2015	$	369
	Total lease obligations	$	369
	Less imputed interest		-9
	Present value of minimum lease payments		360
	Less current maturities of capital lease obligations		-360
	Long term capital lease obligations	$	—

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2014
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	(8) RELATED PARTY TRANSACTIONS
	In August 2013, the Company renewed a one year consulting agreement with a non‑employee director for an additional year. In accordance with the agreement, the Company granted a restricted stock award for 4,277 shares of common stock that vests over one year, and will make cash payments totaling $60,000 over the one year term of the agreement. The Company recorded expense related to this consulting agreement of $25,000 in 2013.
	In August 2012, the Company entered into a one year consulting agreement with a non‑employee director under which the director agreed to provide advisory services in support of the Company’s commercialization activities. In accordance with the agreement, the Company granted a restricted stock award for 4,873 shares of common stock that vested over one year, and made cash payments totaling $60,000 over the initial one year term of the agreement. The Company recorded expense related to this consulting agreement of $35,000 in 2013 and $25,000 in 2012.

ACCRUED_LIABILITIES

ACCRUED LIABILITIES	12 Months Ended
ACCRUED LIABILITIES	Dec. 31, 2014
ACCRUED LIABILITIES
ACCRUED LIABILITIES	(9) ACCRUED LIABILITIES
	Accrued liabilities at December 31, 2014 and 2013 consisted of the following. Amounts included in the table are in thousands.


		December 31,
		2014		2013
	Compensation	$	5,668	$	2,838
	Professional fees		5,764		826
	Research and trial related expenses		1,447		689
	Licenses		646		539
	Miscellaneous taxes		261		24
	Other		122		58
	Occupancy costs		52		71
	Assets under construction		—		649
		$	13,960	$	5,694

LONG_TERM_DEBT

LONG TERM DEBT	12 Months Ended
LONG TERM DEBT	Dec. 31, 2014
LONG TERM DEBT
LONG TERM DEBT	(10) LONG TERM DEBT
	During November 2009, the Company entered into a loan agreement with the Wisconsin Department of Commerce pursuant to which the Wisconsin Department of Commerce agreed to lend up to $1 million to the Company subject to the Company’s satisfaction of certain conditions. The Company received the $1 million in December 2009. The terms of the loan are such that portions of the loan become forgivable if the Company meets certain job creation requirements at a specified wage rate. After the Company creates 100 full time positions, the principal shall be reduced at the rate of $5,405 for each new position created thereafter during the measurement period. If the Company has created 185 new full‑time positions as of June 30, 2015, the full amount of principal shall be forgiven. The loan bears an interest rate of 2%, which is subject to an increase to 4% if the Company does not meet certain job creation requirements. Both principal and interest payments under the loan agreement are deferred for five years. Based on the Company’s estimation of the loan obligation, the table below represents the future principal obligations as of December 31, 2014:


	Year ending December 31,
	2015	$	—
	2016		145
	2017		217
	2018		221
	2019		225
	Thereafter		192
		$	1,000

EMPLOYEE_BENEFIT_PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
EMPLOYEE BENEFIT PLAN	Dec. 31, 2014
EMPLOYEE BENEFIT PLAN
EMPLOYEE BENEFIT PLAN	(11) EMPLOYEE BENEFIT PLAN
	The Company maintains a qualified 401(k) retirement savings plan (the “401(k) Plan”) covering all employees. Under the terms of the 401(k) Plan, participants may elect to defer a portion of their compensation into the 401(k) Plan, subject to certain limitations. Company matching contributions may be made at the discretion of the Board of Directors.
	The Company’s Board of Directors approved 401(k) Plan matching contributions for the years ended December 31, 2014, 2013 and 2012 in the form of Company common stock equal to 100% up to 6% of the participant’s salary for that year. The Company recorded compensation expense of approximately $0.8 million, $0.5 million, and $0.4 million, respectively, in the statements of operations for the years ended December 31, 2014, 2013 and 2012 in connection with 401(k) Plan matching contributions.

NEW_MARKET_TAX_CREDIT

NEW MARKET TAX CREDIT	12 Months Ended
	Dec. 31, 2014
NEW MARKET TAX CREDIT
NEW MARKET TAX CREDIT	(12) NEW MARKET TAX CREDIT
	During the fourth quarter of 2014, the Company received approximately $2.4 million in net proceeds from financing agreements related to working capital and capital improvements at one of its Madison, Wisconsin facilities. This financing arrangement was structured with an unrelated third party financial institution (the “Investor”), an investment fund, and its majority owned community development entity in connection with the Company’s participation in transactions qualified under the federal New Markets Tax Credit program, pursuant to Section 45D of the Internal Revenue Code of 1986, as amended. Through its participation in this program, the Company has secured low interest financing and the potential for future debt forgiveness related to the Madison, Wisconsin facility. Upon closing of this transaction, the Company provided an aggregate of approximately $5.1 million to the Investor, in the form of a loan receivable, with a term of seven years, bearing an interest rate of 2.74% per annum. This $5.1 million in proceeds plus $2.4 million of capital from the Investor was used to make an aggregate $7.5 million loan to a subsidiary of the Company. This financing arrangement is not secured by any assets of the Company. On December 1, 2021, the Company would receive a repayment of its approximately $5.1 million loan. The $5.1 million is eliminated in the consolidation of the financial statements. This transaction also includes a put/call feature which becomes enforceable at the end of the seven-year compliance period, whereby we may be obligated or entitled to repurchase the Investor’s interest in the investment fund. The value attributable to the put/call is nominal.

	The Investor is subject to 100% recapture of the New Markets Tax Credits it receives for a period of seven years as provided in the Internal Revenue Code and applicable U.S. Treasury regulations. The Company is required to be in compliance with various regulations and contractual provisions that apply to the New Markets Tax Credit arrangement. Noncompliance with applicable requirements could result in the Investor’s projected tax benefits not being realized and, therefore, require the Company to indemnify the Investor for any loss or recapture of New Markets Tax Credits related to the financing until such time as the recapture provisions have expired under the applicable statute of limitations. The Company does not anticipate any credit recapture will be required in connection with this financing arrangement.

	Also in the fourth quarter, in connection with the New Markets Tax Credit transaction, the Company entered into an agreement that grants it the option to purchase certain real property adjacent to its current Madison, Wisconsin facilities. The option is renewable annually in exchange for a fee. If the Company decides not to exercise its option, it must, at that time, repay $1.2 million of the $2.4 million previously received from the Investor which could be applied to the repayment of the $2.4 million loan.

	At December 31, 2014, the net loan balance of $2.4 million is recorded in Other Long Term Liabilities on the consolidated balance sheets. The Company incurred approximately $0.2 million of debt issuance costs related to the above transactions, which are being amortized over the life of the agreements.

	The investment fund and the community development entity are considered Variable Interest Entities (VIEs) and the Company is the primary beneficiary of the VIEs. This conclusion was reached based on the following:

		·	The ongoing activities of the VIEs—collecting and remitting interest and fees and NMTC compliance—were all considered in the initial design and are not expected to significantly affect performance throughout the life of the VIE;
		·	Contractual arrangements obligate the Company to comply with NMTC rules and regulations and provide various other guarantees to the Investor and community development entity;
		·	The Investor lacks a material interest in the underling economics of the project; and
		·	The Company is obligated to absorb losses of the VIEs.

	Because the Company is the primary beneficiary of the VIEs, they have been included in the consolidated financial statements. There are no other assets, liabilities or transactions in these VIEs outside of the financing transactions executed as part of the NMTC arrangement. The Investor’s contribution of $2.4 million is included in Cash and Cash Equivalents at December 31, 2014 and the offsetting Investor interest in the financing arrangement is included in Other Long Term Liabilities in the accompanying consolidated balance sheets.

INCOME_TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2014
INCOME TAXES
INCOME TAXES	(13) INCOME TAXES
	The Company is subject to taxation in the U.S. and various state jurisdictions. All of the Company’s tax years are subject to examination by the U.S. and state tax authorities due to the carryforward of unutilized net operating losses.

	Under financial accounting standards, deferred tax assets or liabilities are computed based on the differences between the financial statement and income tax bases of assets and liabilities using the enacted tax rates. Deferred income tax expense or benefit represents the change in the deferred tax assets or liabilities from period to period. At December 31, 2014, the Company had federal net operating loss and state net operating loss carryforwards of approximately $422.7 million and $232.0 million, respectively for financial reporting purposes, which may be used to offset future taxable income. The Company also had federal and state research tax credit carryforwards of $6.5 million and $15.6 million, respectively which may be used to offset future income tax liability. The federal and state carryforwards expire beginning 2014 through 2032 and are subject to review and possible adjustment by the Internal Revenue Service. In the event of a change of ownership, the federal and state net operating loss and research and development tax credit carryforwards may be subject to annual limitations provided by the Internal Revenue Code and similar state provisions.

	As of December 31, 2014 and 2013, the Company had $39.8 million and $16.5 million, respectively, in excess tax benefit stock option deductions. The excess tax benefit arising from these deductions is credited to additional paid in capital as the benefit is realized.
	The components of the net deferred tax asset with the approximate income tax effect of each type of carryforward, credit and temporary differences are as follows. Amounts included in the table are in thousands.


		December 31,
		2014			2013
	Deferred tax assets:
	Operating loss carryforwards	$	140,471		$	101,942
	Tax credit carryforwards		16,915			18,061
	Deferred revenue		11			117
	Other temporary differences		4,543			4,429
	Tax assets before valuation allowance		161,940			124,549
	Less—Valuation allowance		-161,940			-124,549
	Net deferred taxes	$	—		$	—

	A valuation allowance to reduce the deferred tax assets is reported if, based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company has incurred significant losses since its inception and due to the uncertainty of the amount and timing of future taxable income, management has determined that a $161.9 million and $124.5 million valuation allowance at December 31, 2014 and 2013 is necessary to reduce the tax assets to the amount that is more likely than not to be realized. The change in valuation allowance for December 31, 2014 and 2013 was $37.4 million and $20.6 million, respectively. Due to the existence of the valuation allowance, future changes in our unrecognized tax benefits will not impact the Company’s effective tax rate.
	The effective tax rate differs from the statutory tax rate due to the following:


		December 31,
		2014		2013		2012
	U.S. Federal statutory rate	34.0	%	34.0	%	34.0	%
	State taxes	5.5		4.8		1.7
	Research and development tax credit	-1.1		16.9		5.1
	Stock-based compensation expense	-0.5		-1.1		-0.6
	Other adjustments	-0.8		-0.3		-0.1
	Valuation allowance	-37.1		-54.3		-40.1
	Effective tax rate	0.0	%	0.0	%	0.0	%
	There are no unrecognized tax benefits as of December 2014, 2013 and 2012, nor are there any tax positions where it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within the 12 months following December 31, 2014.
	As of December 31, 2014, due to the carryforward of unutilized net operating losses and research and development credits, the Company is subject to U.S. Federal income tax examinations for the tax years 1995 through 2014, and to state income tax examinations for the tax years 1995 through 2013. There were no interest or penalties related to income taxes that have been accrued or recognized as of and for the years ended December 31, 2014, 2013 and 2012.

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Dec. 31, 2014
SUBSEQUENT EVENT
SUBSEQUENT EVENT	(14) SUBSEQUENT EVENT
	In February 2015 the Company amended and restated its license agreement with MAYO to extend the arrangement with MAYO for an additional five years and broaden the Company’s and MAYO’s collaboration efforts to develop screening, surveillance and diagnostic tests and tools for use in connection with gastrointestinal cancers, precancers, diseases and conditions. MAYO agreed to continue to make available personnel during the additional five year period to provide the Company product development and research and development assistance. The amended and restated license agreement defines “gastrointestinal” to include certain airway organs (including the pharynx, larynx, trachea, bronchi and lungs) and certain head and neck organs (including nasal passages, mouth and throat). The amended and restated license agreement also reflects an expanded list of patent rights that MAYO licenses to the Company.
	Pursuant to the amended and restated license agreement, the Company agreed to pay MAYO an additional $5,000,000, payable in five annual installments, the first of which was due February 10, 2015.

QUARTERLY_RESULTS_OF_OPERATION

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	Dec. 31, 2014
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	(15) QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
	The following table sets forth unaudited quarterly statement of operations data for each of the eight quarters ended December 31, 2014 and 2013. In the opinion of management, this information has been prepared on the same basis as the audited consolidated financial statements appearing elsewhere in this Form 10‑K, and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly the unaudited quarterly results of operations. The quarterly data should be read in conjunction with our audited consolidated financial statements and the notes to the consolidated financial statements appearing elsewhere in this Form 10‑K.


		Quarter Ended
		March 31,		June 30,		September 30,		December 31,
		(Amounts in thousands, except per share data)
	2014
	Laboratory service revenue	$	—	$	—	$	—	$	1,504
	License fee revenue		294		—		—		—
	Cost of revenue		—		—		924		3,401
	Gross profit		294		—		-924		-1,897
	Research and development		7,430		7,174		9,073		4,992
	General and administrative		4,586		6,230		8,994		10,625
	Sales and marketing		4,456		6,166		13,217		15,069
	Loss from operations		-16,178		-19,570		-32,208		-32,583
	Investment income		86		146		160		150
	Interest expense		-15		-13		-12		-11
	Net loss	$	-16,107	$	-19,437	$	-32,060	$	-32,444
	Net loss per share—basic and diluted	$	-0.23	$	-0.24	$	-0.39	$	-0.38
	Weighted average common shares outstanding—basic and diluted		70,987		82,048		82,941		84,734
	2013
	Revenue	$	1,036	$	1,036	$	1,036	$	1,036
	Cost of revenue		—		—		—		—
	Gross profit		1,036		1,036		1,036		1,036
	Research and development		7,526		6,457		6,982		6,713
	General and administrative		2,648		3,628		3,686		3,687
	Sales and marketing		1,759		3,302		1,615		2,902
	Loss from operations		-10,897		-12,351		-11,247		-12,266
	Investment income		62		55		103		96
	Interest expense		-19		-18		-16		-16
	Net loss	$	-10,854	$	-12,314	$	-11,160	$	-12,186
	Net loss per share—basic and diluted	$	-0.17	$	-0.19	$	-0.16	$	-0.17
	Weighted average common shares outstanding—basic and diluted		63,836		64,699		70,559		70,757

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of the Company’s wholly‑owned subsidiaries, Exact Sciences Laboratories, LLC, Exact Sciences Finance Corporation, Exact Sciences Europe LTD, and variable interest entities. See Note 12 for the discussion of financing arrangements involving certain entities that are variable interest entities that are included in our consolidated financial statements. All significant intercompany transactions and balances have been eliminated in consolidation.
	References to “Exact”, “we”, “us”, “our”, or the “Company” refer to Exact Sciences Corporation and its wholly owned subsidiaries.

Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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	Cash and Cash Equivalents
	The Company considers cash on hand, demand deposits in bank, money market funds, and all highly liquid investments with an original maturity of 90 days or less to be cash and cash equivalents. The Company had no restricted cash at December 31, 2014 and 2013.

Marketable Securities	Marketable Securities
	Management determines the appropriate classification of debt securities at the time of purchase and re‑evaluates such designation as of each balance sheet date. Debt securities carried at amortized cost are classified as held‑to‑maturity when the Company has the positive intent and ability to hold the securities to maturity. Marketable equity securities and debt securities not classified as held‑to‑maturity are classified as available‑for‑sale. Available‑for‑sale securities are carried at fair value, with the unrealized gains and losses, net of tax, reported in other comprehensive income. The amortized cost of debt securities in this category is adjusted for amortization of premiums and accretion of discounts to maturity computed under the straight‑line method. Such amortization is included in investment income. Realized gains and losses and declines in value judged to be other‑than‑temporary on available‑for‑sale securities are included in investment income. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available‑for‑sale are included in investment income.
	At December 31, 2014 and December 31, 2013 the Company’s investments were comprised of fixed income investments and all were deemed available‑for‑sale. The objectives of the Company’s investment strategy are to provide liquidity and safety of principal while striving to achieve the highest rate of return consistent with these two objectives. The Company’s investment policy limits investments to certain types of instruments issued by institutions with investment grade credit ratings and places restrictions on maturities and concentration by type and issuer. Investments in which the Company has the ability and intent, if necessary, to liquidate in order to support its current operations (including those with a contractual term greater than one year from the date of purchase) are classified as current. All of the Company’s investments are considered current. Realized gains were $11,000, $9,639, and $6,231, net of insignificant realized losses, for the years ended December 31, 2014, 2013, and 2012, respectively. Unrealized losses on investments recorded in other comprehensive income were $159,908 and $7,190 for the years ended December 31, 2014 and 2013, respectively. Unrealized gains on investments recorded in other comprehensive income were $45,808 and $132,663 for the years ended December 31, 2014 and 2013, respectively.
	Available‑for‑sale securities at December 31, 2014 consist of the following:



			December 31, 2014
						Gains in Accumulated			Losses in Accumulated
						Other Comprehensive			Other Comprehensive			Estimated Fair
	(In thousands)		Amortized Cost			Income			Income			Value
	Corporate bonds		$	141,239		$	21		$	-136		$	141,124
	U.S. government agency securities			18,687			8			-7			18,688
	Asset backed securities			60,821			17			-18			60,820
	Commercial paper			3,993			—			—			3,993
	Total available-for-sale securities		$	224,740		$	46		$	-161		$	224,625


	Available‑for‑sale securities at December 31, 2013 consist of the following:


			December 31, 2013
						Gains in Accumulated			Losses in Accumulated
						Other Comprehensive			Other Comprehensive			Estimated Fair
	(In thousands)		Amortized Cost			Income			Income			Value
	Corporate bonds		$	77,935		$	82		$	-7		$	78,010
	U.S. government agency securities			34,291			46			—			34,337
	Certificates of deposit			6,558			4			—			6,562
	Commercial paper			1,499			—			—			1,499
	Total available-for-sale securities		$	120,283		$	132		$	-7		$	120,408


Changes in Accumulated Other Comprehensive Income	Changes in Accumulated Other Comprehensive Income (Loss)
	The amount recognized in accumulated other comprehensive income (loss) (AOCI) for the years ended December 31, 2014 and 2013 were as follows (in thousands):


			Year Ended December 31,
			2014			2013			2012
	Beginning balance		$	125		$	78		$	-14
	Other comprehensive (loss) income before reclassifications			-200			90			84
	Amounts reclassified from accumulated other comprehensive loss			-40			-43			8
	Net current period change in accumulated other comprehensive income (loss)			-240			47			92
	Ending balance		$	-115		$	125		$	78

	Amounts reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2014 and 2013 were as follows (in thousands):




			Affected Line Item in the		Year Ended December 31,
	Details about AOCI Components		Statement of Operations		2014			2013			2012
	Change in value of available-for-sale investments
	Sales and maturities of available-for-sale investments		Investment income		$	-40		$	-43		$	8
	Total reclassifications				$	-40		$	-43		$	8


Property and Equipment	Property and Equipment
	Property and equipment are stated at cost and depreciated using the straight‑line method over the assets’ estimated useful lives. Maintenance and repairs are expensed when incurred; additions and improvements are capitalized. The estimated useful lives of fixed assets are as follows:


			Estimated
	Asset Classification		Useful Life
	Laboratory equipment		3 - 5 years
	Office, computer equipment and computer software		3 years
	Leasehold improvements		Lesser of the remaining lease term or useful life
	Furniture and fixtures		3 years

	Depreciation expense for the years ended December 31, 2014, 2013, and 2012 was $3.7 million, $1.4 million, and $1.0 million, respectively.
	At December 31, 2014, the Company had $1.6 million of assets under construction which consisted of $1.2 million of capitalized costs related to software and computer hardware projects and $0.4 million of costs related to leasehold improvement projects. Depreciation will begin on these assets once they are placed into service. We expect that it will cost $0.2 million to complete the leasehold improvement projects and $0.1 million to complete the software projects, and these projects are expected to be completed in 2015.

Software Capitalization Policy	Software Capitalization Policy
	Software development costs related to internal use software are incurred in three stages of development: the preliminary project stage, the application development stage, and the post‑implementation stage. Costs incurred during the preliminary project and post‑implementation stages are expensed as incurred. Costs in the application development stage that meet the criteria for capitalization are capitalized and amortized using the straight‑line basis over the estimated economic useful life of the software.

Patent Costs	Patent Costs
	Patent costs, which have historically consisted of related legal fees, are capitalized as incurred, only if the Company determines that there is some probable future economic benefit derived from the transaction. The capitalized patents are amortized beginning when patents are approved over an estimated useful life of five years. Capitalized patent costs are expensed upon disapproval, upon a decision by the Company to no longer pursue the patent or when the related intellectual property is either sold or deemed to be no longer of value to the Company. The Company determined that all patent costs incurred during the year ended December 31, 2014, 2013 and 2012 should be expensed and not capitalized as the future economic benefit derived from the transactions cannot be determined.

Net Loss Per Share	Net Loss Per Share
	Basic net loss per common share was determined by dividing net loss applicable to common stockholders by the weighted average common shares outstanding during the period. Basic and diluted net loss per share is the same because all outstanding common stock equivalents have been excluded, as they are anti‑dilutive as a result of the Company’s losses.
	The following potentially issuable common shares were not included in the computation of diluted net loss per share because they would have an anti‑dilutive effect due to net losses for each period (amounts are in thousands):



			2014		2013		2012
	Shares issuable upon exercise of stock options		4,934		6,063		6,182
	Shares issuable upon exercise of outstanding warrants(1)		—		155		325
	Shares issuable upon the release of restricted stock awards		1,541		1,151		814
	Shares issuable upon the vesting of restricted stock awards related to licensing agreement		24		49		73
			6,499		7,418		7,394



		-1		At December 31, 2013, represents warrants to purchase 80,000 shares of common stock issued under a license agreement and warrants to purchase 75,000 shares of common stock issued under a consulting agreement. At December 31, 2012, represents warrants to purchase 250,000 shares of common stock issued under a licensing agreement and warrants to purchase 75,000 shares of common stock issued under a consulting agreement.


Accounting for Stock-Based Compensation	Accounting for Stock‑Based Compensation
	The Company requires all share‑based payments to employees, including grants of employee stock options, restricted stock, restricted stock units and shares purchased under an ESPP (if certain parameters are not met), to be recognized in the financial statements based on their fair values.

Revenue Recognition
	Revenue Recognition
	Laboratory service revenue. The Company’s revenues are primarily generated by the Cologuard test. Revenues are recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. The Company assesses whether the fee is fixed or determinable and if the collectability is reasonable based on the nature of the fee charged for the laboratory services delivered and whether there are existing contractual arrangements with customers, third-party commercial payors (insurance carriers and health plans) or coverage of the test by Centers for Medicare & Medicaid Services (CMS). In addition, when evaluating collectability, the Company considers factors such as collection experience for the healthcare industry, the financial standing of customers or third-party commercial payors, and whether it has sufficient collection history to reliably estimate a payor’s individual payment patterns.
	A significant portion of laboratory service revenues earned by the Company will be initially recognized on a cash basis because the above criteria will not have been met at the time the test results are delivered. The Company generally bills third-party payors upon generation and delivery of a test result to the ordering physician following completion of a test. As such, the Company takes assignment of benefits and risk of collection with the third-party payor. Patients may have out-of-pocket costs for amounts not covered by their insurance reimbursement policies. Consequently, the Company pursues reimbursement on a case-by-case basis directly from the patient.
	For laboratory services performed, where the collectability is not reasonably assured, the Company will continue to recognize revenues upon cash collection until it can reliably estimate the amount that would be ultimately collected for the Cologuard test. In order to begin to record revenue on an accrual basis in these scenarios, the Company expects to use at least several months of payment history, review the number of test paid against the number of tests billed, and consider the payor’s outstanding balance for unpaid test to determine whether payments are being made for a consistently high percentage of tests billed and at appropriate amounts given the contracted or historical payment amount. Cologuard became available upon FDA approval on August 11, 2014. The national coverage decision for Cologuard was released by CMS on October 9, 2014.
	The Company recognized approximately $1.5 million in laboratory service revenue for the year ended December 31, 2014.
	License fees. License fees for the licensing of product rights are recorded as deferred revenue upon receipt of cash and recognized as revenue on a straight‑line basis over the license period.
	As more fully described in Note 3 below, in connection with the Company’s transaction with Genzyme Corporation, Genzyme agreed to pay the Company a total of $18.5 million, of which $16.65 million was paid on January 27, 2009 and $1.85 million was subject to a holdback by Genzyme to satisfy certain potential indemnification obligations in exchange for the assignment and licensing of certain intellectual property to Genzyme. The Company’s on‑going performance obligations to Genzyme under the Collaboration, License and Purchase Agreement (the “CLP Agreement”), as described below, including its obligation to deliver through licenses certain intellectual property improvements to Genzyme, if improvements are made during the initial five‑year collaboration period, were deemed to be undelivered elements of the CLP Agreement on the date of closing. Accordingly, the Company deferred the initial $16.65 million in cash received at closing and is amortizing that up‑front payment on a straight line basis into revenue over the initial five‑year collaboration period ending in January 2014. The Company received the first holdback amount of $962,000, which included accrued interest, due from Genzyme during the first quarter of 2010. The Company received the second holdback amount of $934,250 which included accrued interest due, from Genzyme during the third quarter of 2010. The amounts were deferred and were amortized on a straight‑line basis into revenue over the remaining term of the collaboration at the time of receipt.
	In addition, Genzyme purchased 3,000,000 shares of common stock purchased from the Company on January 27, 2009 for $2.00 per share, representing a premium of $0.51 per share above the closing price of the Company’s common stock on that date of $1.49 per share. The aggregate premium paid by Genzyme over the closing price of the Company’s common stock on the date of the transaction of $1.53 million is deemed to be a part of the total consideration for the CLP Agreement. Accordingly, the Company deferred the aggregate $1.53 million premium and amortized that amount on a straight line basis into revenue over the initial five‑year collaboration period ending in January 2014.
	The Company recognized approximately $0.3 million in license fee revenue for the year ended December 31, 2014 and $4.1 million in license fee revenue in connection with the amortization of the up‑front payments from Genzyme during the years ended December 31, 2013, and 2012, respectively.

Inventory	Inventory
	Inventory is stated at the lower of cost or market value (net realizable value). The Company determines the cost of inventory using the first-in, first out method (FIFO). The Company estimates the recoverability of inventory by reference to internal estimates of future demands and product life cycles, including expiration. The Company periodically analyzes its inventory levels to identify inventory that may expire prior to expected sale or has a cost basis in excess of its estimated realizable value, and records a charge to cost of sales for such inventory as appropriate. In addition, the Company’s products are subject to strict quality control and monitoring which the Company performs throughout the production process. If certain batches or units of product no longer meet quality specifications or become obsolete due to expiration, the Company records a charge to cost of sales to write down such unmarketable inventory to its estimated realizable value.
	Direct and indirect manufacturing costs incurred during process validation and for other research and development activities, which are not permitted to be sold, have been expensed to research and development. Raw material inventory that was purchased in prior periods, and expensed to research and development, may still be on hand and used toward the production of commercial Cologuard, provided it has an appropriate remaining shelf life. This inventory is expected to provide a gross margin benefit to the Company in future periods of $0.7 million if the entirety of those balances were allocated to inventory produced for resale and not allocated to research and development activities.
	The Company has invested in its manufacturing operations to support future demand for Cologuard. Because of this investment in the future, the Company is not currently operating at normal capacity. Charges related to excess capacity are included as current period charges to cost of sales, and are not capitalized into inventory. Total excess capacity charged to cost of sales during the year ended December 31, 2014 was $1.6 million.
	Inventory consists of the following (amount in thousands):


			December 31,
			2014			2013
	Raw Materials		$	1,019		$	—
	Semi-finished and finished goods			2,998			—
	Total inventory		$	4,017		$	—


Advertising Costs	Advertising Costs
	The Company expenses the costs of media advertising at the time the advertising takes place. The Company expensed approximately $5.3 million, $0.1 million and $0.1 million of media advertising during the years ended December 31, 2014, 2013, and 2012, respectively.

Fair Value Measurements	Fair Value Measurements
	The FASB has issued authoritative guidance which requires that fair value should be based on the assumptions market participants would use when pricing an asset or liability and establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy. The fair value hierarchy establishes and prioritizes the inputs used to measure fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs are inputs that reflect the assumptions that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
	The three levels of the fair value hierarchy established are as follows:

	Level 1	Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.
	Level 2	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.
	Level 3	Unobservable inputs that reflect the Company’s assumptions about the assumptions that market participants would use in pricing the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available.

	Fixed‑income securities and mutual funds are valued using a third party pricing agency. The valuation is based on observable inputs including pricing for similar assets and other observable market factors. There has been no material change from period to period.
	The following table presents the Company’s fair value measurements as of December 31, 2014 along with the level within the fair value hierarchy in which the fair value measurements in their entirety fall. Amounts in the table are in thousands.


						Fair Value Measurement at December 31, 2014 Using:
						Quoted Prices			Significant
						in Active			Other			Significant
						Markets for			Observable			Unobservable
			Fair Value at			Identical Assets			Inputs			Inputs
	Description		December 31, 2014			(Level 1)			(Level 2)			(Level 3)
	Cash and cash equivalents
	Cash and money market		$	53,569		$	53,569		$	—		$	—
	Corporate bonds			4,562			—			4,562			—
	Available-for-Sale
	Marketable securities
	Corporate bonds			141,124			—			141,124			—
	U.S. government agency securities			18,688			—			18,688			—
	Asset backed securities			60,820			—			60,820			—
	Commercial paper			3,993			—			3,993			—
	Total		$	282,756		$	53,569		$	229,187		$	—

	The following table presents the Company’s fair value measurements as of December 31, 2013 along with the level within the fair value hierarchy in which the fair value measurements in their entirety fall. Amounts in the table are in thousands.


						Fair Value Measurement at December 31, 2013 Using:
						Quoted Prices			Significant
						in Active			Other			Significant
						Markets for			Observable			Unobservable
			Fair Value at			Identical Assets			Inputs			Inputs
	Description		December 31, 2013			(Level 1)			(Level 2)			(Level 3)
	Cash and cash equivalents
	Cash and money market		$	12,851		$	12,851		$	—		$	—
	Available-for-Sale
	Marketable securities
	Corporate bonds			78,010			—			78,010			—
	U.S. government agency securities			34,338			—			34,338			—
	Certificates of deposit			6,561			—			6,561			—
	Commercial paper			1,499			—			1,499			—
	Total		$	133,259		$	12,851		$	120,408		$	—

	The Company monitors investments for other-than-temporary impairment. It was determined that unrealized gains and losses at December 31, 2014 and 2013, are temporary in nature, because the change in market value for those securities has resulted from fluctuating interest rates, rather than a deterioration of the credit worthiness of the issuers. So long as the Company holds these securities to maturity, it is unlikely to experience gains or losses. In the event that the Company disposes of these securities before maturity, it is expected that realized gains or losses, if any, will be immaterial.
	The following table summarizes the gross unrealized losses and fair values of investments in an unrealized loss position as of December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:





				31-Dec-14
				Less than 12 months					12 months or greater						Total
	(In thousands)			Fair Value			Gross Unrealized Loss			Fair Value			Gross Unrealized Loss			Fair Value			Gross Unrealized Loss
	Marketable Securities
	Corporate bonds		$	113,960		$	-136		$	—		$	—		$	113,960		$	-136
	Asset backed securities			33,073			-18			—			—			33,073			-18
	U.S. government agency securities			5,641			-7			—			—			5,641			-7
	Total		$	152,674		$	-161		$	—		$	—		$	152,674		$	-161

The following table summarizes the gross unrealized losses and fair value of investments in an unrealized loss position as of December 31, 2013, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:


			31-Dec-13
			Less than 12 months					12 months or greater						Total
(In thousands)			Fair Value			Gross Unrealized Loss			Fair Value			Gross Unrealized Loss			Fair Value			Gross Unrealized Loss
Marketable Securities
Corporate bonds		$	7,379		$	-6		$	—		$	—		$	7,379		$	-6
Asset backed securities			5,062			-1			—			—			5,062			-1
Commercial paper			1,499			—			—			—			1,499			—
Total		$	13,940		$	-7		$	—		$	—		$	13,940		$	-7


The following table summarizes contractual underlying maturities of the Company’s available‑for‑sale investments at December 31, 2014 (in thousands):




			Due one year or less					Due after one year through two years
Description			Cost			Fair Value			Cost			Fair Value
Marketable Securities
U.S. government agency securities		$	14,788		$	14,796		$	3,899		$	3,892
Corporate bonds			81,461			81,423			59,777			59,701
Commercial paper			3,993			3,993			—			—
Asset backed securities			—			—			60,821			60,820
Total		$	100,242		$	100,212		$	124,497		$	124,413



Concentration of Credit Risk	Concentration of Credit Risk
	In accordance with GAAP, the Company is required to disclose any significant off‑balance‑sheet risk and credit risk concentration. The Company has no significant off‑balance‑sheet risk, such as foreign exchange contracts or other hedging arrangements. Financial instruments that subject the Company to credit risk consist of cash, cash equivalents and marketable securities. As of December 31, 2014, the Company had cash and cash equivalents deposited in financial institutions in which the balances exceed the federal government agency insured limit of $250,000 by approximately $57.1 million. The Company has not experienced any losses in such accounts and management believes it is not exposed to any significant credit risk.

Subsequent Events	Subsequent Events
	The Company evaluates events that occur through the filing date and discloses those events or transactions that provide additional evidence with respect to conditions that existed at the date of the balance sheet. In addition, the financial statements are adjusted for any changes in estimates resulting from the use of such evidence.

Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The update also creates a new Subtopic 340-40, Other Assets and Deferred Costs – Contracts with Customers, which provides guidance for the incremental costs of obtaining a contract with a customer and those costs incurred in fulfilling a contract with a customer that are not in the scope of another topic. The new revenue standard requires that entities should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entities expect to be entitled in exchange for those goods or services. To achieve that core principle, the standard requires a five step process of identifying the contracts with customers, identifying the performance obligations in the contracts, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, the performance obligations are satisfied. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. We are evaluating the impact that the adoption of this standard will have on our consolidated financial statements.

	In August 2014, the FASB issued ASU No. 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 . The amendment is effective for the annual period beginning after December 15, 2016, and for annual and interim periods thereafter, with early adoption permitted. The amendment requires an entity’s management to evaluate for each annual and interim reporting period whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued or available to be issued. If substantial doubt is raised, further analysis and disclosures are required, including management’s plans to mitigate the adverse conditions or events.

	In July 2013, the FASB issued ASU 2013-11 regarding the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This standard requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a net operating loss ("NOL") or tax credit carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This ASU requires entities to assess whether to net the unrecognized tax benefit with a deferred tax asset as of the reporting date. This guidance is effective for fiscal years beginning after December 15, 2013, with early adoption permitted. The Company adopted this guidance during the first quarter of 2014, and it did not have a material impact on the consolidated financial statements as we have a full valuation allowance against the deferred tax asset. Refer to footnote 13 for further description.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of available-for-sale securities	Available‑for‑sale securities at December 31, 2014 consist of the following:



			December 31, 2014
						Gains in Accumulated			Losses in Accumulated
						Other Comprehensive			Other Comprehensive			Estimated Fair
	(In thousands)		Amortized Cost			Income			Income			Value
	Corporate bonds		$	141,239		$	21		$	-136		$	141,124
	U.S. government agency securities			18,687			8			-7			18,688
	Asset backed securities			60,821			17			-18			60,820
	Commercial paper			3,993			—			—			3,993
	Total available-for-sale securities		$	224,740		$	46		$	-161		$	224,625


	Available‑for‑sale securities at December 31, 2013 consist of the following:


			December 31, 2013
						Gains in Accumulated			Losses in Accumulated
						Other Comprehensive			Other Comprehensive			Estimated Fair
	(In thousands)		Amortized Cost			Income			Income			Value
	Corporate bonds		$	77,935		$	82		$	-7		$	78,010
	U.S. government agency securities			34,291			46			—			34,337
	Certificates of deposit			6,558			4			—			6,562
	Commercial paper			1,499			—			—			1,499
	Total available-for-sale securities		$	120,283		$	132		$	-7		$	120,408


Schedule of amounts recognized in accumulated other comprehensive income (AOCI)
			Year Ended December 31,
			2014			2013			2012
	Beginning balance		$	125		$	78		$	-14
	Other comprehensive (loss) income before reclassifications			-200			90			84
	Amounts reclassified from accumulated other comprehensive loss			-40			-43			8
	Net current period change in accumulated other comprehensive income (loss)			-240			47			92
	Ending balance		$	-115		$	125		$	78


Schedule of amounts reclassified from accumulated other comprehensive income

			Affected Line Item in the		Year Ended December 31,
	Details about AOCI Components		Statement of Operations		2014			2013			2012
	Change in value of available-for-sale investments
	Sales and maturities of available-for-sale investments		Investment income		$	-40		$	-43		$	8
	Total reclassifications				$	-40		$	-43		$	8


Schedule of estimated useful lives of fixed assets
			Estimated
	Asset Classification		Useful Life
	Laboratory equipment		3 - 5 years
	Office, computer equipment and computer software		3 years
	Leasehold improvements		Lesser of the remaining lease term or useful life
	Furniture and fixtures		3 years


Schedule of potentially issuable common shares not included in the computation of diluted net loss per share because they would have an anti-dilutive effect
			2014		2013		2012
	Shares issuable upon exercise of stock options		4,934		6,063		6,182
	Shares issuable upon exercise of outstanding warrants(1)		—		155		325
	Shares issuable upon the release of restricted stock awards		1,541		1,151		814
	Shares issuable upon the vesting of restricted stock awards related to licensing agreement		24		49		73
			6,499		7,418		7,394



		-1		At December 31, 2013, represents warrants to purchase 80,000 shares of common stock issued under a license agreement and warrants to purchase 75,000 shares of common stock issued under a consulting agreement. At December 31, 2012, represents warrants to purchase 250,000 shares of common stock issued under a licensing agreement and warrants to purchase 75,000 shares of common stock issued under a consulting agreement.


Schedule of inventory
			December 31,
			2014			2013
	Raw Materials		$	1,019		$	—
	Semi-finished and finished goods			2,998			—
	Total inventory		$	4,017		$	—


Schedule of fair value measurements along with the level within the fair value hierarchy in which the fair value measurements fall	The following table presents the Company’s fair value measurements as of December 31, 2014 along with the level within the fair value hierarchy in which the fair value measurements in their entirety fall. Amounts in the table are in thousands.


						Fair Value Measurement at December 31, 2014 Using:
						Quoted Prices			Significant
						in Active			Other			Significant
						Markets for			Observable			Unobservable
			Fair Value at			Identical Assets			Inputs			Inputs
	Description		December 31, 2014			(Level 1)			(Level 2)			(Level 3)
	Cash and cash equivalents
	Cash and money market		$	53,569		$	53,569		$	—		$	—
	Corporate bonds			4,562			—			4,562			—
	Available-for-Sale
	Marketable securities
	Corporate bonds			141,124			—			141,124			—
	U.S. government agency securities			18,688			—			18,688			—
	Asset backed securities			60,820			—			60,820			—
	Commercial paper			3,993			—			3,993			—
	Total		$	282,756		$	53,569		$	229,187		$	—

	The following table presents the Company’s fair value measurements as of December 31, 2013 along with the level within the fair value hierarchy in which the fair value measurements in their entirety fall. Amounts in the table are in thousands.


						Fair Value Measurement at December 31, 2013 Using:
						Quoted Prices			Significant
						in Active			Other			Significant
						Markets for			Observable			Unobservable
			Fair Value at			Identical Assets			Inputs			Inputs
	Description		December 31, 2013			(Level 1)			(Level 2)			(Level 3)
	Cash and cash equivalents
	Cash and money market		$	12,851		$	12,851		$	—		$	—
	Available-for-Sale
	Marketable securities
	Corporate bonds			78,010			—			78,010			—
	U.S. government agency securities			34,338			—			34,338			—
	Certificates of deposit			6,561			—			6,561			—
	Commercial paper			1,499			—			1,499			—
	Total		$	133,259		$	12,851		$	120,408		$	—


Schedule of gross unrealized losses and fair values of investments in an unrealized loss position	The following table summarizes the gross unrealized losses and fair values of investments in an unrealized loss position as of December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:





				31-Dec-14
				Less than 12 months					12 months or greater					Total
	(In thousands)			Fair Value			Gross Unrealized Loss			Fair Value			Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
	Marketable Securities
	Corporate bonds		$	113,960		$	-136		$	—		$	—	$	113,960	$	-136
	Asset backed securities			33,073			-18			—			—		33,073		-18
	U.S. government agency securities			5,641			-7			—			—		5,641		-7
	Total		$	152,674		$	-161		$	—		$	—	$	152,674	$	-161

	The following table summarizes the gross unrealized losses and fair value of investments in an unrealized loss position as of December 31, 2013, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:


				31-Dec-13
				Less than 12 months					12 months or greater					Total
	(In thousands)			Fair Value			Gross Unrealized Loss			Fair Value			Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
	Marketable Securities
	Corporate bonds		$	7,379		$	-6		$	—		$	—	$	7,379	$	-6
	Asset backed securities			5,062			-1			—			—		5,062		-1
	Commercial paper			1,499			—			—			—		1,499		—
	Total		$	13,940		$	-7		$	—		$	—	$	13,940	$	-7


Schedule of contractual maturities of available-for-sale investments	The following table summarizes contractual underlying maturities of the Company’s available‑for‑sale investments at December 31, 2014 (in thousands):




				Due one year or less					Due after one year through two years
	Description			Cost			Fair Value			Cost			Fair Value
	Marketable Securities
	U.S. government agency securities		$	14,788		$	14,796		$	3,899		$	3,892
	Corporate bonds			81,461			81,423			59,777			59,701
	Commercial paper			3,993			3,993			—			—
	Asset backed securities			—			—			60,821			60,820
	Total		$	100,242		$	100,212		$	124,497		$	124,413

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
STOCK-BASED COMPENSATION (Tables)	Dec. 31, 2014
Stock-based compensation
Schedule of non-cash stock-based compensation expense by department
			December 31,
			2014			2013			2012
	Cost of sales		$	279		$	—		$	—
	Research and development			4,135			2,817			2,396
	General and administrative			5,589			3,054			2,579
	Sales and marketing			1,517			1,873			518
	Total stock-based compensation		$	11,520		$	7,744		$	5,493


Schedule of valuation assumptions
			December 31,
			2014		2013		2012
	Option Plan Shares
	Risk-free interest rates		1.96% - 2.01%		0.94% - 1.73%		0.81% - 1.00%
	Expected term (in years)		6		6		6
	Expected volatility		77.6% - 80.8%		82.9% - 84.0%		85% - 92%
	Dividend yield		0%		0%		0%
	Weighted average fair value per share of options granted during the period		$10.05		$8.12		$6.90
	ESPP Shares
	Risk-free interest rates		0.1% - 0.5%		0.1% - 0.33%		0.18% - 0.30%
	Expected term (in years)		0.5 - 2		0.5 - 2		0.5 - 2
	Expected volatility		42.5% - 62.7%		39.1% - 45.6%		34.0% - 54.9%
	Dividend yield		0%		0%		0%
	Weighted average fair value per share of stock purchase rights granted during the period		$6.30		$3.13		$2.84


Summary of stock option activity under the Stock Plans
								Weighted
					Weighted			Average
					Average			Remaining		Aggregate
					Exercise			Contractual		Intrinsic
	Options		Shares		Price			Term (Years)		Value(1)
	(Aggregate intrinsic value in thousands)
	Outstanding, January 1, 2012		6,453,584		$	2.27
	Granted		499,198			9.18
	Exercised		-691,471			3.45
	Forfeited		-79,375			7.6
	Outstanding, December 31, 2012		6,181,936		$	2.62
	Granted		290,570			11.36
	Exercised		-274,919			5.17
	Forfeited		-135,000			10.08
	Outstanding, December 31, 2013		6,062,587		$	2.78		6.6
	Granted		266,477			14.28
	Exercised		-1,378,372			1.91
	Forfeited		-16,375			6.37
	Outstanding, December 31, 2014		4,934,317		$	3.63		5.2		$	117,503
	Exercisable, December 31, 2014		4,186,502		$	2.27		4.7		$	105,384
	Vested and expected to vest, December 31, 2014		4,897,001		$	3.57		5.2		$	116,898



		-1		The aggregate intrinsic value of options outstanding at December 31, 2014 is calculated as the difference between the exercise price of the underlying options and the market price of the Company’s common stock for the 4,934,317 options that had exercise prices that were lower than the $27.44 market price of our common stock at December 31, 2014. The aggregate intrinsic value of options exercisable at December 31, 2014 is calculated as the difference between the exercise price of the underlying options and the market price of the Company’s common stock for the 4,186,502 options that had exercise prices that were lower than the $27.44 market price of our common stock at December 31, 2014. The total intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $29.2 million, $1.9 million, $4.5 million, respectively, determined as of the date of exercise.


Summary of restricted stock and restricted stock unit activity under the Stock Plans
					Weighted
			Restricted		Average Grant
			Shares		Date Fair Value
	Outstanding, January 1, 2012		401,490		$	6.24
	Granted		602,268			9.47
	Released		-185,116			5.67
	Forfeited		-4,687			7.69
	Outstanding, December 31, 2012		813,955		$	8.51
	Granted		1,147,553			11.76
	Released		-344,611			8.56
	Forfeited		-466,203			9.73
	Outstanding, December 31, 2013		1,150,694		$	11.23
	Granted		926,171			15.61
	Released		-491,370			11.17
	Forfeited		-44,381			12.44
	Outstanding, December 31, 2014		1,541,114		$	13.86


Summary of information relating to outstanding and exercisable stock options
			Outstanding							Exercisable
					Weighted
					Average		Weighted					Weighted
					Remaining		Average					Average
			Number of		Contractual		Exercise			Number of		Exercise
	Exercise Price		Options		Life (Years)		Price			Options		Price
	$0.00 - $1.00		2,887,500		4.2		$	0.83		2,887,500		$	0.83
	$1.01 - $3.00		438,000		4.6			2.79		438,000			2.79
	$3.01 - $5.00		319,347		5.5			3.95		319,347			3.95
	$5.01 - $7.00		184,960		6.2			5.94		122,273			6.01
	$7.01 - $9.00		141,248		6.5			8.16		127,623			8.22
	$9.01 - $11.00		646,785		7.5			9.65		279,259			9.49
	$11.01 - $15.00		283,000		9.0			14.04		12,500			14.4
	$15.01- $16.52		33,477		9.6			16.52		—			—
			4,934,317		5.2		$	3.63		4,186,502		$	2.27


Summary of shares of authorized common stock reserved for issuance
	Shares reserved for issuance
	2010 Option Plan		1,638,187
	2010 Purchase Plan		540,177
			2,178,364


Employee Stock Purchase Plan 2010 [Member]
Stock-based compensation
Schedule of shares of common stock issued
					Weighted Average
	Offering period ended		Number of Shares		price per Share
	April 30, 2014		40,846		$	8.25
	October 31, 2014		47,320		$	8.95

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES
Schedule of future minimum payments under the operating lease
	Year Ending December 31,
	2015	$	1,310
	2016		1,225
	2017		763
	2018		704
	2019		—
	Thereafter		—
	Total lease obligations	$	4,002


Schedule of future minimum payments under the entity's technology licenses
	Year ending December 31,
	2015	$	698
	2016		256
	2017		256
	2018		256
	2019		256
	Thereafter		1,775
		$	3,497


Schedule of future minimum lease payments required under the capital lease and the present value of the net minimum lease payments
	Year ending December 31,
	2015	$	369
	Total lease obligations	$	369
	Less imputed interest		-9
	Present value of minimum lease payments		360
	Less current maturities of capital lease obligations		-360
	Long term capital lease obligations	$	—

ACCRUED_LIABILITIES_Tables

ACCRUED LIABILITIES (Tables)	12 Months Ended
ACCRUED LIABILITIES (Tables)	Dec. 31, 2014
ACCRUED LIABILITIES
Schedule of accrued expenses
		December 31,
		2014		2013
	Compensation	$	5,668	$	2,838
	Professional fees		5,764		826
	Research and trial related expenses		1,447		689
	Licenses		646		539
	Miscellaneous taxes		261		24
	Other		122		58
	Occupancy costs		52		71
	Assets under construction		—		649
		$	13,960	$	5,694

LONG_TERM_DEBT_Tables

LONG TERM DEBT (Tables)	12 Months Ended
LONG TERM DEBT (Tables)	Dec. 31, 2014
LONG TERM DEBT
Schedule of future principal obligations
	Year ending December 31,
	2015	$	—
	2016		145
	2017		217
	2018		221
	2019		225
	Thereafter		192
		$	1,000

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2014
INCOME TAXES
Schedule of components of the net deferred tax asset
		December 31,
		2014			2013
	Deferred tax assets:
	Operating loss carryforwards	$	140,471		$	101,942
	Tax credit carryforwards		16,915			18,061
	Deferred revenue		11			117
	Other temporary differences		4,543			4,429
	Tax assets before valuation allowance		161,940			124,549
	Less—Valuation allowance		-161,940			-124,549
	Net deferred taxes	$	—		$	—


Schedule of differences between the effective income tax rate and the statutory tax rate
		December 31,
		2014		2013		2012
	U.S. Federal statutory rate	34.0	%	34.0	%	34.0	%
	State taxes	5.5		4.8		1.7
	Research and development tax credit	-1.1		16.9		5.1
	Stock-based compensation expense	-0.5		-1.1		-0.6
	Other adjustments	-0.8		-0.3		-0.1
	Valuation allowance	-37.1		-54.3		-40.1
	Effective tax rate	0.0	%	0.0	%	0.0	%

QUARTERLY_RESULTS_OF_OPERATION1

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	Dec. 31, 2014
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
Schedule of quarterly statement of operations
		Quarter Ended
		March 31,		June 30,		September 30,		December 31,
		(Amounts in thousands, except per share data)
	2014
	Laboratory service revenue	$	—	$	—	$	—	$	1,504
	License fee revenue		294		—		—		—
	Cost of revenue		—		—		924		3,401
	Gross profit		294		—		-924		-1,897
	Research and development		7,430		7,174		9,073		4,992
	General and administrative		4,586		6,230		8,994		10,625
	Sales and marketing		4,456		6,166		13,217		15,069
	Loss from operations		-16,178		-19,570		-32,208		-32,583
	Investment income		86		146		160		150
	Interest expense		-15		-13		-12		-11
	Net loss	$	-16,107	$	-19,437	$	-32,060	$	-32,444
	Net loss per share—basic and diluted	$	-0.23	$	-0.24	$	-0.39	$	-0.38
	Weighted average common shares outstanding—basic and diluted		70,987		82,048		82,941		84,734
	2013
	Revenue	$	1,036	$	1,036	$	1,036	$	1,036
	Cost of revenue		—		—		—		—
	Gross profit		1,036		1,036		1,036		1,036
	Research and development		7,526		6,457		6,982		6,713
	General and administrative		2,648		3,628		3,686		3,687
	Sales and marketing		1,759		3,302		1,615		2,902
	Loss from operations		-10,897		-12,351		-11,247		-12,266
	Investment income		62		55		103		96
	Interest expense		-19		-18		-16		-16
	Net loss	$	-10,854	$	-12,314	$	-11,160	$	-12,186
	Net loss per share—basic and diluted	$	-0.17	$	-0.19	$	-0.16	$	-0.17
	Weighted average common shares outstanding—basic and diluted		63,836		64,699		70,559		70,757

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	item	Dec. 31, 2013	Dec. 31, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Restricted cash	$0	$0
Number of objectives of the entity's investment strategy	2
Minimum contractual term of certain current investments which can be liquidated	1 year
Realized gains	11,000	9,639	6,231
Unrealized losses on investments	-159,908	7,190
Unrealized gains on investments	45,808	132,663
Available-for-sale securities
Amortized Cost	224,740,000	120,283,000
Gains in Accumulated Other Comprehensive Income	46,000	132,000
Losses in Accumulated Other Comprehensive Income	-161,000	-7,000
Estimated Fair Value	224,625,000	120,408,000
Corporate bonds [Member]
Available-for-sale securities
Amortized Cost	141,239,000	34,291,000
Gains in Accumulated Other Comprehensive Income	21,000	46,000
Losses in Accumulated Other Comprehensive Income	-136,000
Estimated Fair Value	141,124,000	34,337,000
U. S. government agency securities [Member]
Available-for-sale securities
Amortized Cost	18,687,000	77,935,000
Gains in Accumulated Other Comprehensive Income	8,000	82,000
Losses in Accumulated Other Comprehensive Income	-7,000	-7,000
Estimated Fair Value	18,688,000	78,010,000
Certificates of deposit [Member]
Available-for-sale securities
Amortized Cost	60,821,000	6,558,000
Gains in Accumulated Other Comprehensive Income	17,000	4,000
Losses in Accumulated Other Comprehensive Income	-18,000
Estimated Fair Value	60,820,000	6,562,000
Commercial paper [Member]
Available-for-sale securities
Amortized Cost	3,993,000	1,499,000
Estimated Fair Value	$3,993,000	$1,499,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning Balance	$125
Net current period change in accumulated other comprehensive income (loss)	-240	47	92
Ending Balance	-115	125
Accumulated Net Unrealized Investment Gain Loss [Member]
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning Balance	125	78	-14
Other comprehensive income (loss) before reclassifications	-200	90	84
Amounts reclassified from accumulated other comprehensive income (loss)	-40	-43	8
Net current period change in accumulated other comprehensive income (loss)	-240	47	92
Ending Balance	($115)	$125	$78

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details about AOCI Components
Investment income	$150	$160	$146	$86	$96	$103	$55	$62	$542	$316	$262
Reclassification Out Of Accumulated Other Comprehensive Income (Loss) [Member]
Details about AOCI Components
Investment income									-40	-43	8
Accumulated Net Unrealized Investment Gain Loss [Member] \| Reclassification Out Of Accumulated Other Comprehensive Income (Loss) [Member]
Details about AOCI Components
Investment income									($40)	($43)	$8

SUMMARY_OF_SIGNIFICANT_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	item	Dec. 31, 2013	Dec. 31, 2012
Property and equipment
Depreciation expense	$3,700,000	$1,400,000	$1,000,000
Assets under construction	1,552,000	2,592,000
Software Capitalization Policy
Software development stages	3
Patent Costs
Estimated useful life of patents	5 years
Labratory equipment [Member] \| Minimum [Member]
Property and equipment
Estimated Useful Life	3 years
Labratory equipment [Member] \| Maximum [Member]
Property and equipment
Estimated Useful Life	5 years
Office and computer equipment [Member]
Property and equipment
Estimated Useful Life	3 years
Furniture and fixtures [Member]
Property and equipment
Estimated Useful Life	3 years
Software and Computer Hardware [Member]
Property and equipment
Assets under construction	1,200,000
Leasehold Improvements [Member]
Property and equipment
Assets under construction	400,000
Expected cost to complete construction of project	200,000
Software Development [Member]
Property and equipment
Expected cost to complete construction of project	$100,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Common shares not included in the computation of diluted net loss per share
Potentially issuable common shares not included in the computation of diluted net loss per share because they would have an anti-dilutive effect	6,499,000	7,418,000	7,394,000
Additional disclosure
Number of shares of common stock that can be purchased through issuance of warrants under a license agreement		80,000	250,000
Number of shares of common stock that can be purchased through issuance of warrants under a consulting agreement		75,000	75,000
Stock Options [Member]
Common shares not included in the computation of diluted net loss per share
Potentially issuable common shares not included in the computation of diluted net loss per share because they would have an anti-dilutive effect	4,934,000	6,063,000	6,182,000
Warrants [Member]
Common shares not included in the computation of diluted net loss per share
Potentially issuable common shares not included in the computation of diluted net loss per share because they would have an anti-dilutive effect		155,000	325,000
Restricted Stock Awards [Member]
Common shares not included in the computation of diluted net loss per share
Potentially issuable common shares not included in the computation of diluted net loss per share because they would have an anti-dilutive effect	1,541,000	1,151,000	814,000
Restricted Stock Related To Licensing Agreement [Member]
Common shares not included in the computation of diluted net loss per share
Potentially issuable common shares not included in the computation of diluted net loss per share because they would have an anti-dilutive effect	24,000	49,000	73,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) (USD $)	3 Months Ended		12 Months Ended			0 Months Ended		3 Months Ended
	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 27, 2009	Jan. 27, 2009	Sep. 30, 2010	Mar. 31, 2010	Dec. 16, 2014	Apr. 02, 2014	Jun. 21, 2013	Aug. 13, 2012
Revenue Recognition
Laboratory service revenue	$1,504,000		$1,504,000
Sale of common stock (in shares)	88,626,042		88,626,042	71,071,838
Closing price of common stock (in dollars per share)	$27.44		$27.44							$25.75	$12.75	$12.35	$9.75
License fee revenue		294,000	294,000	4,144,000	4,144,000
Inventory
Inventory gross margin benefit expected to be realized in future periods if inventory balance is allocated to inventory produced for resale and not allocated to research and development activiites	700,000		700,000
Excess capacity charges to cost of sales			1,600,000
Raw materials	1,019,000		1,019,000
Semi-finished and finished goods	2,998,000		2,998,000
Total inventory	4,017,000		4,017,000
Advertising Costs
Advertising expense			5,300,000	100,000	100,000
Collaboration License And Purchase Agreement [Member] \| Genzyme Corporation [Member]
Revenue Recognition
Total agreed consideration amount						18,500,000	18,500,000
Amount of Deferred Revenue						16,650,000	16,650,000
Amount subject to holdback						1,850,000	1,850,000
Initial collaboration period						5 years	5 years
Amount received						16,650,000		934,250	962,000
Sale of common stock (in shares)						3,000,000	3,000,000
Price at which share of common stock are sold (in dollars per share)						$2	$2
Premium above closing price of common stock at which shares are sold (in dollars per share)						$0.51	$0.51
Closing price of common stock (in dollars per share)						$1.49	$1.49
Aggregate premium received over the closing price of common stock						1,530,000	1,530,000
Amount of premium being amortized						1,530,000	1,530,000
License fee revenue			$300,000	$4,100,000	$4,100,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 7) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Fair value measurements
Cash and cash equivalents	$58,131	$12,851	$13,345	$35,781
Marketable securities	224,625	120,408
Fair Value Inputs Level1 [Member]
Fair value measurements
Total	53,569	12,851
Fair Value Inputs Level1 [Member] \| Cash and Money Market [Member]
Fair value measurements
Cash and cash equivalents	53,569	12,851
Fair Value Inputs Level2 [Member]
Fair value measurements
Total	229,187	120,408
Fair Value Inputs Level2 [Member] \| Corporate bonds [Member]
Fair value measurements
Cash and cash equivalents	4,562
Marketable securities	141,124	78,010
Fair Value Inputs Level2 [Member] \| U. S. government agency securities [Member]
Fair value measurements
Marketable securities	18,688	34,338
Fair Value Inputs Level2 [Member] \| Certificates of deposit [Member]
Fair value measurements
Marketable securities	60,820	6,561
Fair Value Inputs Level2 [Member] \| Commercial Paper [Member]
Fair value measurements
Marketable securities	3,993	1,499
Estimate Of Fair Value Fair Value Disclosure [Member]
Fair value measurements
Total	282,756	133,259
Estimate Of Fair Value Fair Value Disclosure [Member] \| Cash and Money Market [Member]
Fair value measurements
Cash and cash equivalents	53,569	12,851
Estimate Of Fair Value Fair Value Disclosure [Member] \| Corporate bonds [Member]
Fair value measurements
Cash and cash equivalents	4,562
Marketable securities	141,124	78,010
Estimate Of Fair Value Fair Value Disclosure [Member] \| U. S. government agency securities [Member]
Fair value measurements
Marketable securities	18,688	34,338
Estimate Of Fair Value Fair Value Disclosure [Member] \| Certificates of deposit [Member]
Fair value measurements
Marketable securities	60,820	6,561
Estimate Of Fair Value Fair Value Disclosure [Member] \| Commercial Paper [Member]
Fair value measurements
Marketable securities	$3,993	$1,499

Recovered_Sheet1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 8) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fair value of investments in unrealized loss positions
Total fair value of available-for-sale securities in a continuous unrealized loss position for less than twelve months	$152,674,000	$13,940,000
Total fair value of available-for-sale securities in a continuous unrealized loss position	152,674,000	13,940,000
Gross unrealized loss of investments in unrealized loss positions
Total gross unrealized losses of available-for-sale securities in a continuous unrealized loss position for less than twelve months	-161,000	-7,000
Total gross unrealized losses of available-for-sale securities in a continuous unrealized loss position	-161,000	-7,000
Contractual maturities of the available-for-sale investments in debt securities, Cost
Due in one year or less	100,242,000
Due after one year through two years	124,497,000
Contractual maturities of the available-for-sale investments in debt securities, Fair Value
Due in one year or less	100,212,000
Due after one year through two years	124,413,000
Concentration of Credit Risk
Cash and cash equivalents, federal government agency insured limit	250,000
Cash and cash equivalents in excess of federal government agency insured limit	57,100,000
Corporate bonds [Member]
Fair value of investments in unrealized loss positions
Total fair value of available-for-sale securities in a continuous unrealized loss position for less than twelve months	113,960,000	7,379,000
Total fair value of available-for-sale securities in a continuous unrealized loss position	113,960,000	7,379,000
Gross unrealized loss of investments in unrealized loss positions
Total gross unrealized losses of available-for-sale securities in a continuous unrealized loss position for less than twelve months	-136,000	-6,000
Total gross unrealized losses of available-for-sale securities in a continuous unrealized loss position	-136,000	-6,000
Contractual maturities of the available-for-sale investments in debt securities, Cost
Due in one year or less	81,461,000
Due after one year through two years	59,777,000
Contractual maturities of the available-for-sale investments in debt securities, Fair Value
Due in one year or less	81,423,000
Due after one year through two years	59,701,000
Asset backed securities [Member]
Fair value of investments in unrealized loss positions
Total fair value of available-for-sale securities in a continuous unrealized loss position for less than twelve months	33,073,000	5,062,000
Total fair value of available-for-sale securities in a continuous unrealized loss position	33,073,000	5,062,000
Gross unrealized loss of investments in unrealized loss positions
Total gross unrealized losses of available-for-sale securities in a continuous unrealized loss position for less than twelve months	-18,000	-1,000
Total gross unrealized losses of available-for-sale securities in a continuous unrealized loss position	-18,000	-1,000
Contractual maturities of the available-for-sale investments in debt securities, Cost
Due after one year through two years	60,821,000
Contractual maturities of the available-for-sale investments in debt securities, Fair Value
Due after one year through two years	60,820,000
U. S. government agency securities [Member]
Fair value of investments in unrealized loss positions
Total fair value of available-for-sale securities in a continuous unrealized loss position for less than twelve months	5,641,000
Total fair value of available-for-sale securities in a continuous unrealized loss position	5,641,000
Gross unrealized loss of investments in unrealized loss positions
Total gross unrealized losses of available-for-sale securities in a continuous unrealized loss position for less than twelve months	-7,000
Total gross unrealized losses of available-for-sale securities in a continuous unrealized loss position	-7,000
Contractual maturities of the available-for-sale investments in debt securities, Cost
Due in one year or less	14,788,000
Due after one year through two years	3,899,000
Contractual maturities of the available-for-sale investments in debt securities, Fair Value
Due in one year or less	14,796,000
Due after one year through two years	3,892,000
Commercial Paper [Member]
Fair value of investments in unrealized loss positions
Total fair value of available-for-sale securities in a continuous unrealized loss position for less than twelve months		1,499,000
Total fair value of available-for-sale securities in a continuous unrealized loss position		1,499,000
Contractual maturities of the available-for-sale investments in debt securities, Cost
Due in one year or less	3,993,000
Contractual maturities of the available-for-sale investments in debt securities, Fair Value
Due in one year or less	$3,993,000

GENZYME_STRATEGIC_TRANSACTION_

GENZYME STRATEGIC TRANSACTION (Details) (USD $)	3 Months Ended	12 Months Ended			0 Months Ended		3 Months Ended
GENZYME STRATEGIC TRANSACTION (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 27, 2009	Jan. 27, 2009	Sep. 30, 2010	Mar. 31, 2010	Dec. 16, 2014	Apr. 02, 2014	Jun. 21, 2013	Aug. 13, 2012
Revenue Recognition
Sale of common stock (in shares)		88,626,042	71,071,838
Common stock, par value (in dollars per share)		$0.01	$0.01	$0.01
Closing price of common stock (in dollars per share)		$27.44							$25.75	$12.75	$12.35	$9.75
License fee revenue	$294,000	$294,000	$4,144,000	$4,144,000
Collaboration License And Purchase Agreement [Member] \| Genzyme Corporation [Member]
Revenue Recognition
Total agreed consideration amount					18,500,000	18,500,000
Proceeds from Genzyme Collaboration, License and Purchase Agreement					16,650,000		934,250	962,000
Amount subject to holdback					1,850,000	1,850,000
Initial collaboration period					5 years	5 years
Sale of common stock (in shares)					3,000,000	3,000,000
Price at which share of common stock are sold (in dollars per share)					$2	$2
Aggregate purchase price					6,000,000
Premium above closing price of common stock at which shares are sold (in dollars per share)					$0.51	$0.51
Closing price of common stock (in dollars per share)					$1.49	$1.49
Aggregate premium received over the closing price of common stock					1,530,000	1,530,000
License fee revenue		$300,000	$4,100,000	$4,100,000

MAYO_LICENSE_AGREEMENT_Details

MAYO LICENSE AGREEMENT (Details) (USD $)

0 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

Dec. 16, 2014

Apr. 02, 2014

Jun. 21, 2013

Aug. 13, 2012

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Aug. 31, 2014

31-May-12

Jun. 30, 2011

Jun. 30, 2009

Sep. 30, 2009

Jun. 30, 2014

Jun. 30, 2013

Jan. 31, 2013

installment

item

Warrants

Number of shares of common stock covered by warrants

75,000

Royalty payments

$25,000

$10,000

Other Payments

Charges incurred as part of the research collaboration

4,992,000

9,073,000

7,174,000

7,430,000

6,713,000

6,982,000

6,457,000

7,526,000

28,669,000

27,678,000

42,131,000

May 2012 Amendment

Number of shares of restricted stock granted as a consideration for the expanded license

4,000,000

11,500,000

6,300,000

Minimum [Member] | Scenario, Forecast [Member]

Warrants

Royalty payments

25,000

Licensing Agreements [Member]

Other Payments

Charges incurred as part of the research collaboration

2,300,000

1,800,000

1,400,000

Licensing Agreements [Member] | M A Y O Foundation [Member]

Warrants

Number of common stock purchase warrants granted

Other Payments

Upfront payment

80,000

Milestone payment on the commencement of patient enrollment in a human cancer screening clinical

250,000

Milesone payments made upon approval of the FDA

500,000

Charges incurred as part of the research collaboration

2,300,000

1,700,000

1,200,000

Payments for research and development efforts

700,000

1,000,000

1,100,000

Estimated liability for research and development efforts

1,400,000

700,000

1,400,000

700,000

May 2012 Amendment

Number of shares of restricted stock granted as a consideration for the expanded license

97,466

Vesting right percentage of restricted stock

25.00%

Number of equal annual installments in which restricted stock are to be vested

Research and development licensing expense recognized in connection with the restricted stock grant

$1,000,000

Licensing Agreements [Member] | Warrant Covering One Million Shares [Member] | M A Y O Foundation [Member]

Warrants

Exercise price (in dollars per share)

1.9

Number of shares of common stock covered by warrants

1,000,000

Licensing Agreements [Member] | Warrant Covering Two Hundred Fifty Thousand Shares [Member] | M A Y O Foundation [Member]

Warrants

Exercise price (in dollars per share)

1.9

Number of shares of common stock covered by warrants

250,000

Warrants, vesting period

4 years

Warrants exercised, gross (in shares)

80,000

85,000

Warrants forfeited (in shares)

10,587

12,765

14,008

Warrants exercised, net of forfeiture (in shares)

69,413

72,235

70,992

ISSUANCES_OF_EQUITY_Details

ISSUANCES OF EQUITY (Details) (USD $)	0 Months Ended				12 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Dec. 16, 2014	Apr. 02, 2014	Jun. 21, 2013	Aug. 13, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 16, 2014	Apr. 02, 2014	Jun. 21, 2013	Aug. 13, 2012
ISSUANCES OF EQUITY
Issuance of stock on underwritten public offering (in shares)	4	11.5	6.3	6.3
Price of common stock (in dollars per share)					$27.44			$25.75	$12.75	$12.35	$9.75
Net proceeds received from the offerings	$100,900,000	$137,700,000	$73,300,000	$57,800,000	$238,580,000	$73,296,000	$57,755,000
Underwriting discount and other stock issuance costs	$2,100,000	$8,900,000	$4,800,000	$3,900,000

ISSUANCES_OF_EQUITY_Details_2

ISSUANCES OF EQUITY (Details 2) (Right Agreement [Member])	1 Months Ended
ISSUANCES OF EQUITY (Details 2) (Right Agreement [Member])	Feb. 28, 2011
ISSUANCES OF EQUITY
Number of shares of series A junior participating preferred stock which a holder is entitled to purchase upon exercise of the rights	0.001
Minimum [Member]
ISSUANCES OF EQUITY
Percentage of outstanding common stock to be acquired by potential acquirer	15.00%
Percentage of outstanding common stock that is tendered in an offer or exchanged under offer	15.00%

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	12 Months Ended			54 Months Ended
STOCK-BASED COMPENSATION (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
Stock-based compensation
Shares available for future grant	2,178,364			2,178,364
Proceeds from stock option exercise	$2,600,000	$1,300,000	$2,400,000
Stock Option And Incentive Plan 2000 [Member]
Stock-based compensation
Further grants or awards after termination of plan (in shares)	0
Period by which all options to purchase common stock will accelerate upon an acquisition of the company	1 year
Stock Option And Incentive Plan 2000 [Member] \| Minimum [Member]
Stock-based compensation
Vesting period	3 years
Stock Option And Incentive Plan 2000 [Member] \| Maximum [Member]
Stock-based compensation
Vesting period	4 years
Stock Option And Incentive Plan 2000 [Member] \| Stock Options [Member]
Stock-based compensation
Expiration period from the date of grant	10 years
Shares outstanding	3,358,800			3,358,800
Omnibus Long Term Incentive Plan 2010 [Member]
Stock-based compensation
Further grants or awards after termination of plan (in shares)	0
Period by which all options to purchase common stock will accelerate upon an acquisition of the company	1 year
Shares available for future grant	1,638,187			1,638,187
Omnibus Long Term Incentive Plan 2010 [Member] \| Minimum [Member]
Stock-based compensation
Vesting period	3 years
Omnibus Long Term Incentive Plan 2010 [Member] \| Maximum [Member]
Stock-based compensation
Vesting period	4 years
Omnibus Long Term Incentive Plan 2010 [Member] \| Stock Options [Member]
Stock-based compensation
Expiration period from the date of grant	10 years
Shares outstanding	1,575,517			1,575,517
Omnibus Long Term Incentive Plan 2010 [Member] \| Restricted Stock Awards [Member]
Stock-based compensation
Shares outstanding	1,541,114			1,541,114
Employee Stock Purchase Plan 2010 [Member]
Stock-based compensation
Increase in number of shares reserved for issuance	500,000
Shares available for future grant	540,177			540,177
Option exercise price, expressed as a percentage of fair market value	85.00%
Maximum value of shares that an employee is permitted to purchase	25,000
Number of Shares	88,166	59,932	63,611	259,823
Proceeds from stock option exercise	$800,000	$500,000	$400,000
Employee Stock Purchase Plan 2010 [Member] \| Thirty April2013 [Member]
Stock-based compensation
Number of Shares	40,846
Weighted Average Price per Share (in dollars per share)	$8.25
Employee Stock Purchase Plan 2010 [Member] \| Thirty One October2013 [Member]
Stock-based compensation
Number of Shares	47,320
Weighted Average Price per Share (in dollars per share)	$8.95
Employee Stock Purchase Plan 2010 [Member] \| Minimum [Member]
Stock-based compensation
Number of hours per week of customary employment required to participate in the plan	20
Number of months of customary employment required to participate in the plan	5 months
Percentage of employee's compensation to be deducted from the employee's pay	1.00%
Employee Stock Purchase Plan 2010 [Member] \| Maximum [Member]
Stock-based compensation
Percentage of employee's compensation to be deducted from the employee's pay	15.00%

STOCKBASED_COMPENSATION_Detail1

STOCK-BASED COMPENSATION (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock-based compensation expense
Stock-based compensation expense	$11,520	$7,744	$5,493
Cost of Sales [Member]
Stock-based compensation expense
Stock-based compensation expense	279
Research And Development Expense [Member]
Stock-based compensation expense
Stock-based compensation expense	4,135	2,817	2,396
General And Administrative Expense [Member]
Stock-based compensation expense
Stock-based compensation expense	5,589	3,054	2,579
Selling And Marketing Expense [Member]
Stock-based compensation expense
Stock-based compensation expense	$1,517	$1,873	$518

STOCKBASED_COMPENSATION_Detail2

STOCK-BASED COMPENSATION (Details 3) (Chief Commercial Officer [Member])	12 Months Ended
	Dec. 31, 2013	Jun. 07, 2013	Dec. 31, 2011
	item	Jun. 07, 2013	Dec. 31, 2011
Stock-based compensation
Number of shares affected by modification of options held by former employee		41,250	100,000
March2014 [Member]
Stock-based compensation
Number of shares that will vest	10,000
Number of installments for vesting of shares	24
April2014 [Member]
Stock-based compensation
Number of shares that will vest	48,750

STOCKBASED_COMPENSATION_Detail3

STOCK-BASED COMPENSATION (Details 4) (USD $)	3 Months Ended	12 Months Ended			0 Months Ended	54 Months Ended
STOCK-BASED COMPENSATION (Details 4) (USD $)	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2014	Dec. 16, 2014	Apr. 02, 2014	Jun. 21, 2013	Aug. 13, 2012
STOCK-BASED COMPENSATION
Forfeiture rate (as a percent)		4.99%	2.76%	1.38%
Additional disclosures
Options outstanding that had exercise prices that were lower than the market price of common stock (in shares)		4,934,317
Options exercisable that had exercise prices that were lower than the market price of common stock (in shares)		4,186,502
Market price (in dollars per share)		$27.44				27.44	$25.75	$12.75	$12.35	$9.75
Total intrinsic value of options exercised		$29,200,000	$1,900,000	$4,500,000
Number of shares of common stock covered by warrants issued in connection with a consulting agreement			75,000
Expense related to stock warrants	1,300,000
Weighted Average Grant Date Fair Value
Unrecognized compensation cost		19,500,000				19,500,000
Weighted average period for recognition of unrecognized compensation cost		2 years 9 months 18 days
Proceeds from stock option exercise		2,600,000	1,300,000	2,400,000
Stock Options [Member]
Valuation assumptions
Risk-free interest rates, minimum (as a percent)		1.96%	0.94%	0.81%
Risk-free interest rates, maximum (as a percent)		2.01%	1.73%	1.00%
Expected term		6 years	6 years	6 years
Expected volatility, minimum (as a percent)		77.60%	82.90%	85.00%
Expected volatility, maximum (as a percent)		80.80%	84.00%	92.00%
Dividend yield (as a percent)		0.00%	0.00%	0.00%
Weighted average fair value per share of options granted during the period (in dollars per share)		$10.05	$8.12	$6.90
Employee Stock [Member]
Valuation assumptions
Risk-free interest rates, minimum (as a percent)		0.10%	0.10%	0.18%
Risk-free interest rates, maximum (as a percent)		0.50%	0.33%	0.30%
Expected volatility, minimum (as a percent)		42.50%	39.10%	34.00%
Expected volatility, maximum (as a percent)		62.70%	45.60%	54.90%
Dividend yield (as a percent)		0.00%	0.00%	0.00%
Weighted average fair value per share of options granted during the period (in dollars per share)		$6.30	$3.13	$2.84
Shares
Outstanding at the beginning of the period (in shares)		6,062,587	6,181,936	6,453,584
Granted (in shares)		266,477	290,570	499,198
Exercised (in shares)		-1,378,372	-274,919	-691,471
Forfeited (in shares)		-16,375	-135,000	-79,375
Outstanding at the end of the period (in shares)		4,934,317	6,062,587	6,181,936		4,934,317
Exercisable at the end of the period (in shares)		4,186,502				4,186,502
Vested and expected to vest at the end of the period (in shares)		4,897,001				4,897,001
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)		$2.78	$2.62	$2.27
Granted (in dollars per share)		$14.28	$11.36	$9.18
Exercised (in dollars per share)		$1.91	$5.17	$3.45
Forfeited (in dollars per share)		$6.37	$10.08	$7.60
Outstanding at the end of the period (in dollars per share)		$3.63	$2.78	$2.62		3.63
Exercisable at the end of the period (in dollars per share)		$2.27				2.27
Vested and expected to vest at the end of the period (in dollars per share)		$3.57				3.57
Weighted Average Remaining Contractual Term
Outstanding at the end of the period		5 years 2 months 12 days	6 years 7 months 6 days
Exercisable at the end of the period		4 years 8 months 12 days
Vested and expected to vest at the end of the period		5 years 2 months 12 days
Aggregate Intrinsic Value
Outstanding at the end of the period		117,503,000				117,503,000
Exercisable at the end of the period		105,384,000				105,384,000
Vested and expected to vest at the end of the period		116,898,000				116,898,000
Employee Stock [Member] \| Minimum [Member]
Valuation assumptions
Expected term		6 months	6 months	6 months
Employee Stock [Member] \| Maximum [Member]
Valuation assumptions
Expected term		2 years	2 years	2 years
Restricted Stock Awards And Restricted Stock Units R S U [Member]
Restricted Shares
Outstanding at the beginning of the period (in shares)		1,150,694	813,955	401,490	401,490
Granted (in shares)		926,171	1,147,553		602,268
Released (in shares)		-491,370	-344,611	-185,116
Forfeited (in shares)		-44,381	-466,203	-4,687
Outstanding at the end of the period (in shares)		1,541,114	1,150,694	813,955		1,541,114
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)		$11.23	$8.51	$6.24	$6.24
Granted (in dollars per share)		$15.61	$11.76	$9.47
Released (in dollars per share)		$11.17	$8.56	$5.67
Forfeited (in dollars per share)		$12.44	$9.73	$7.69
Outstanding at the end of the period (in dollars per share)		$13.86	$11.23	$8.51		13.86
Employee Stock Purchase Plan 2010 [Member]
Weighted Average Grant Date Fair Value
Proceeds from stock option exercise		$800,000	$500,000	$400,000
Stock issued under the Company's stock purchase plan		88,166	59,932	63,611		259,823

STOCKBASED_COMPENSATION_Detail4

STOCK-BASED COMPENSATION (Details 5) (USD $)	12 Months Ended
STOCK-BASED COMPENSATION (Details 5) (USD $)	Dec. 31, 2014
Outstanding
Number of Options	4,934,317
Weighted Average Remaining Contractual Life	5 years 2 months 12 days
Weighted Average Exercise Price (in dollars per share)	$3.63
Exercisable
Number of Options	4,186,502
Weighted Average Exercise Price (in dollars per share)	$2.27
Exercise Price Range One [Member]
Information relating to outstanding and exercisable stock options
Exercise price, low end of range (in dollars per share)	$0
Exercise price, high end of range (in dollars per share)	$1
Outstanding
Number of Options	2,887,500
Weighted Average Remaining Contractual Life	4 years 2 months 12 days
Weighted Average Exercise Price (in dollars per share)	$0.83
Exercisable
Number of Options	2,887,500
Weighted Average Exercise Price (in dollars per share)	$0.83
Exercise Price Range Two [Member]
Information relating to outstanding and exercisable stock options
Exercise price, low end of range (in dollars per share)	$1.01
Exercise price, high end of range (in dollars per share)	$3
Outstanding
Number of Options	438,000
Weighted Average Remaining Contractual Life	4 years 7 months 6 days
Weighted Average Exercise Price (in dollars per share)	$2.79
Exercisable
Number of Options	438,000
Weighted Average Exercise Price (in dollars per share)	$2.79
Exercise Price Range Three [Member]
Information relating to outstanding and exercisable stock options
Exercise price, low end of range (in dollars per share)	$3.01
Exercise price, high end of range (in dollars per share)	$5
Outstanding
Number of Options	319,347
Weighted Average Remaining Contractual Life	5 years 6 months
Weighted Average Exercise Price (in dollars per share)	$3.95
Exercisable
Number of Options	319,347
Weighted Average Exercise Price (in dollars per share)	$3.95
Exercise Price Range Four [Member]
Information relating to outstanding and exercisable stock options
Exercise price, low end of range (in dollars per share)	$5.01
Exercise price, high end of range (in dollars per share)	$7
Outstanding
Number of Options	184,960
Weighted Average Remaining Contractual Life	6 years 2 months 12 days
Weighted Average Exercise Price (in dollars per share)	$5.94
Exercisable
Number of Options	122,273
Weighted Average Exercise Price (in dollars per share)	$6.01
Exercise Price Range Five [Member]
Information relating to outstanding and exercisable stock options
Exercise price, low end of range (in dollars per share)	$7.01
Exercise price, high end of range (in dollars per share)	$9
Outstanding
Number of Options	141,248
Weighted Average Remaining Contractual Life	6 years 6 months
Weighted Average Exercise Price (in dollars per share)	$8.16
Exercisable
Number of Options	127,623
Weighted Average Exercise Price (in dollars per share)	$8.22
Exercise Price Range Six [Member]
Information relating to outstanding and exercisable stock options
Exercise price, low end of range (in dollars per share)	$9.01
Exercise price, high end of range (in dollars per share)	$11
Outstanding
Number of Options	646,785
Weighted Average Remaining Contractual Life	7 years 6 months
Weighted Average Exercise Price (in dollars per share)	$9.65
Exercisable
Number of Options	279,259
Weighted Average Exercise Price (in dollars per share)	$9.49
Exercise Price Range Seven [Member]
Information relating to outstanding and exercisable stock options
Exercise price, low end of range (in dollars per share)	$11.01
Exercise price, high end of range (in dollars per share)	$15
Outstanding
Number of Options	283,000
Weighted Average Remaining Contractual Life	9 years
Weighted Average Exercise Price (in dollars per share)	$14.04
Exercisable
Number of Options	12,500
Weighted Average Exercise Price (in dollars per share)	$14.40
Exercise Price Range Eight [Member]
Information relating to outstanding and exercisable stock options
Exercise price, low end of range (in dollars per share)	$15.01
Exercise price, high end of range (in dollars per share)	$16.52
Outstanding
Number of Options	33,477
Weighted Average Remaining Contractual Life	9 years 7 months 6 days
Weighted Average Exercise Price (in dollars per share)	$16.52

STOCKBASED_COMPENSATION_Detail5

STOCK-BASED COMPENSATION (Details 6) (USD $)	12 Months Ended			0 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 31, 2013	Mar. 31, 2012
Stock-based compensation
Share based compensation expense	$11,520	$7,744	$5,493
Shares reserved for issuance
Shares reserved for issuance	2,178,364
Restricted Stock Awards And Restricted Stock Units R S U [Member]
Stock-based compensation
Granted (in shares)	926,171	1,147,553		602,268
Number of shares earned	491,370	344,611	185,116
Omnibus Long Term Incentive Plan 2010 [Member]
Shares reserved for issuance
Shares reserved for issuance	1,638,187
Employee Stock Purchase Plan 2010 [Member]
Shares reserved for issuance
Shares reserved for issuance	540,177
Certain Executives [Member] \| Restricted Stock Units R S U [Member]
Stock-based compensation
Granted (in shares)					180,750	262,500
Share based compensation expense		$400	$600		($600)
Number of shares earned		100,800
Vesting period of awards granted		3 years

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	12 Months Ended			1 Months Ended				3 Months Ended	1 Months Ended	0 Months Ended	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2012	Nov. 30, 2010	Nov. 30, 2009	Aug. 31, 2014	Jun. 30, 2013	Nov. 30, 2014	Dec. 31, 2012	Dec. 31, 2009
				sqft	sqft	sqft	sqft	sqft	sqft		item
								item
Future minimum payments under operating leases
2015	$1,310,000
2016	1,225,000
2017	763,000
2018	704,000
Total lease obligations	4,002,000
Additional disclosure
Rent expense	1,000,000	700,000	400,000
Lease One Madison WI [Member]
Operating Leases
Initial term of the lease						5 years
Area of space under operating lease (in square feet)				35,000	24,572	17,500
Additional area of space under operating lease (in square feet)				10,428	7,072
Lease Two Madison WI [Member]
Operating Leases
Initial term of the lease								5 years
Area of space under operating lease (in square feet)								29,000
Additional area of space under operating lease (in square feet)							3,189
Number of extensions of lease term								2
Extension term								5 years
Additional disclosure
Lease incentive obligation	2,700,000
Lease Two 2014 Amendment Madison WI [Member]
Additional disclosure
Lease incentive obligation	53,000
Office Lease London United Kingdom [Member]
Operating Leases
Initial term of the lease									2 years
Area of space under operating lease (in square feet)									620
Sublease Agreement 2009 [Member]
Additional disclosure
Rentable area under the sublease agreement (in square feet)											5,086
Proceeds from the sublease agreement										66,800
Term of the sublease agreement											36 months
Amount expected to be received in sublease payments over the life of the sublease agreement											$200,000

COMMITMENTS_AND_CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details 2) (USD $)	0 Months Ended				3 Months Ended								12 Months Ended			1 Months Ended		3 Months Ended	0 Months Ended				12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details 2) (USD $)	Dec. 16, 2014	Apr. 02, 2014	Jun. 21, 2013	Aug. 13, 2012	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	31-May-12	Jun. 30, 2011	Sep. 30, 2009	Jun. 12, 2014	Jun. 12, 2013	Jun. 12, 2012	Jun. 30, 2011	Dec. 31, 2009	Jun. 11, 2009
Commitments and contingencies
Number of shares of common stock covered by warrants									75,000					75,000
Annual royalty fees													$25,000	$25,000	$10,000
Number of shares of restricted stock granted as a consideration for the expanded license	4,000,000	11,500,000	6,300,000	6,300,000
Research and development expense					4,992,000	9,073,000	7,174,000	7,430,000	6,713,000	6,982,000	6,457,000	7,526,000	28,669,000	27,678,000	42,131,000
Future minimum payments due under the entity's technology licenses
2015					698,000								698,000
2016					256,000								256,000
2017					256,000								256,000
2018					256,000								256,000
2019					256,000								256,000
Thereafter					1,775,000								1,775,000
Total					3,497,000								3,497,000
Licensing Agreements [Member]
Commitments and contingencies
Research and development expense													2,300,000	1,800,000	1,400,000
Licensing Agreements [Member] \| M A Y O Foundation [Member]
Commitments and contingencies
Upfront payment																		80,000
Milestone payment contingent upon FDA approval														500,000			250,000
Number of shares of restricted stock granted as a consideration for the expanded license																97,466
Value of stock agreed to be issued upon commercial launch of the second and third products														200,000
Licensing Agreements [Member] \| M A Y O Foundation [Member] \| Minimum [Member]
Commitments and contingencies
Annual royalty fees																			25,000	25,000	10,000
Licensing Agreements [Member] \| M A Y O Foundation [Member] \| Warrant Covering One Million Shares [Member]
Commitments and contingencies
Exercise price (in dollars per share)																								$1.90
Number of shares of common stock covered by warrants																								1,000,000
Licensing Agreements [Member] \| M A Y O Foundation [Member] \| Warrant Covering Two Hundred Fifty Thousand Shares [Member]
Commitments and contingencies
Number of shares of common stock covered by warrants																								250,000
Licensing Agreements [Member] \| M A Y O Foundation [Member] \| Sales Milestone Range Two [Member]
Commitments and contingencies
Amount agreed to be paid upon reaching the specified amount of net sales									2,000,000					2,000,000
Net sales of a licensed product														50,000,000
Licensing Agreements [Member] \| M A Y O Foundation [Member] \| Sales Milestone Range Four [Member]
Commitments and contingencies
Amount agreed to be paid upon reaching the specified amount of net sales									200,000					200,000
Net sales of a licensed product														5,000,000
Licensing Agreements [Member] \| M A Y O Foundation [Member] \| Sales Milestone Range Five [Member]
Commitments and contingencies
Amount agreed to be paid upon reaching the specified amount of net sales									750,000					750,000
Net sales of a licensed product														20,000,000
Licensing Agreements [Member] \| Hologic Inc [Member]
Commitments and contingencies
Upfront payment																							50,000
Amount paid upon enrollment in FDA trial																						100,000
Milestone payment contingent upon FDA approval														100,000
Licensing Agreements [Member] \| M Dx Health [Member]
Commitments and contingencies
Minimum royalty fee that the entity is required to pay on each anniversary									100,000					100,000
Amount agreed to be paid upon the first commercial sale of a licensed product									100,000					100,000
Licensing Agreements [Member] \| M Dx Health [Member] \| Sales Milestone Range One [Member]
Commitments and contingencies
Amount agreed to be paid upon reaching the specified amount of net sales									150,000					150,000
Net sales of a licensed product														10,000,000
Licensing Agreements [Member] \| M Dx Health [Member] \| Sales Milestone Range Two [Member]
Commitments and contingencies
Amount agreed to be paid upon reaching the specified amount of net sales									750,000					750,000
Net sales of a licensed product														50,000,000
Licensing Agreements [Member] \| M Dx Health [Member] \| Sales Milestone Range Three [Member]
Commitments and contingencies
Amount agreed to be paid upon reaching the specified amount of net sales									1,000,000					1,000,000
Net sales of a licensed product														$50,000,000

COMMITMENTS_AND_CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details 3) (USD $)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details 3) (USD $)	Dec. 31, 2014	Dec. 31, 2013
COMMITMENTS AND CONTINGENCIES
Laboratory equipment	$1,200,000
Lease term of leased equipment	3 years
Accumulated depreciation of the leased equipment	674,500
Rental payment per month	32,000
Future minimum lease payments required under the capital lease
2015	369,000
Total lease obligations	369,000
Less imputed interest	-9,000
Present value of minimum lease payments	360,000
Less current maturities of capital lease obligations	-360,000	-351,000
Long term capital lease obligations		$360,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (Director [Member], Restricted Stock Awards [Member], USD $)	1 Months Ended	12 Months Ended		1 Months Ended
	Aug. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Aug. 31, 2013
Consulting Agreement With Related Party One [Member]
RELATED PARTY TRANSACTIONS
Consulting agreement term	1 year
Shares of common stock granted	4,873
Vesting period of awards granted	1 year
Cash payable over term of agreement	$60,000
Consulting agreement expenses		35,000	25,000
Consulting Agreement With Related Party Two [Member]
RELATED PARTY TRANSACTIONS
Consulting agreement term				1 year
Shares of common stock granted				4,277
Vesting period of awards granted				1 year
Cash payable over term of agreement				60,000
Consulting agreement expenses		$25,000

ACCRUED_LIABILITIES_Details

ACCRUED LIABILITIES (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
ACCRUED LIABILITIES
Compensation	$5,668	$2,838
Professional fees	5,764	826
Research and trial related expenses	1,447	689
Licenses	646	539
Micellaneous taxes	261	24
Other	122	58
Occupancy costs	52	71
Assets under construction		649
Accrued liabilities	$13,960	$5,694

LONG_TERM_DEBT_Details

LONG TERM DEBT (Details) (Loans Payable [Member], USD $)	1 Months Ended	12 Months Ended
	Dec. 31, 2009	Dec. 31, 2014	Nov. 30, 2009
	Dec. 31, 2009	item	Nov. 30, 2009
Long term debt
Proceeds from long term debt	$1,000,000
Number of new full time positions required to be created for reduction in principal amount by specified amount		100
Reduction in the principal amount for each new position created		5,405
Full time positions required to be created for forgiveness of full amount of principal		185
Interest rate (as a percent)		2.00%
Interest rate if job creation requirements are not met (as a percent)		4.00%
Period for which both principal and interest payments are deferred		5 years
Future principal obligations
2016		145,000
2017		217,000
2018		221,000
2019		225,000
Thereafter		192,000
Total		1,000,000
Maximum [Member]
Long term debt
Loan amount			$1,000,000

EMPLOYEE_BENEFIT_PLAN_Details

EMPLOYEE BENEFIT PLAN (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
EMPLOYEE BENEFIT PLAN
Matching contribution by employer (as a percent)	100.00%	100.00%	100.00%
Percentage of participant's salary matched by employer	6.00%	6.00%	6.00%
Compensation expense in connection with the 401 (k) Plan	$0.80	$0.50	$0.40

NEW_MARKET_TAX_CREDIT_Details

NEW MARKET TAX CREDIT (Details) (New Market Tax Credit Program [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014
Disclosures related to New Market Tax Credit
Net proceeds received from financing arrangements	$2.40
Loan issued to a subsidiary of the Company by the Investor	7.5
Loan transaction eliminated in Company's consolidated financial statements	5.1
Fee related to not exercising the option to purchase certain real property under a specified agreement	1.2
Variable Interest Entity, Primary Beneficiary [Member]
Disclosures related to New Market Tax Credit
Debt issuance costs	0.2
Variable Interest Entity, Primary Beneficiary [Member] \| Other Long-Term Liabilities [Member]
Disclosures related to New Market Tax Credit
Financing arrangement, amount outstanding	2.4
Investor [Member]
Disclosures related to New Market Tax Credit
Loan receivable issued to Investor	5.1
Term of the loan receivable	7 years
Loan receivable interest rate (as a percent)	2.74%
Recapture (as a percentage)	100.00%
Recapture period	7 years
Investor [Member] \| Variable Interest Entity, Primary Beneficiary [Member] \| Cash and Cash Equivalents Balance Sheet Location [Member]
Disclosures related to New Market Tax Credit
Financing arrangement, investor contribution	$2.40

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	12 Months Ended
INCOME TAXES (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Other information
Excess tax benefit arising from stock option deductions credited to additional paid in capital	$39,800,000	$16,500,000
Deferred tax assets:
Operating loss carryforwards	140,471,000	101,942,000
Tax credit carryforwards	16,915,000	18,061,000
Deferred revenue	11,000	117,000
Other temporary differences	4,543,000	4,429,000
Tax assets before valuation allowance	161,940,000	124,549,000
Less-Valuation allowance	-161,940,000	-124,549,000
Valuation allowance
Change in valuation allowance	37,400,000	20,600,000
Differences between the effective income tax rate and the statutory tax rate
U.S. Federal statutory rate (as a percent)	34.00%	34.00%	34.00%
State taxes (as a percent)	5.50%	4.80%	1.70%
Research and development tax credit (as a percent)	-1.10%	16.90%	5.10%
Stock-based compensation expense (as a percent)	-0.50%	-1.10%	-0.60%
Other adjustments (as a percent)	-0.80%	-0.30%	-0.10%
Valuation allowance (as a percent)	-37.10%	-54.30%	-40.10%
Effective tax rate (as a percent)	0.00%	0.00%	0.00%
Unrecognized tax benefits	0	0	0
Accrued interest or penalties	0	0	0
Recognized interest or penalties	0	0	0
Internal Revenue Service I R S [Member]
Operating loss carryforwards and tax credit carryforwards
Operating loss carryforwards	422,700,000
Internal Revenue Service I R S [Member] \| Research [Member]
Operating loss carryforwards and tax credit carryforwards
Tax credit carryforwards	6,500,000
State And Local Jurisdiction [Member]
Operating loss carryforwards and tax credit carryforwards
Operating loss carryforwards	232,000,000
State And Local Jurisdiction [Member] \| Research [Member]
Operating loss carryforwards and tax credit carryforwards
Tax credit carryforwards	$15,600,000

SUBSEQUENT_EVENT_Details

SUBSEQUENT EVENT (Details) (M A Y O Foundation [Member], Licensing Agreements [Member], Subsequent Event [Member], USD $)	1 Months Ended
	Feb. 28, 2015
	installment
M A Y O Foundation [Member] \| Licensing Agreements [Member] \| Subsequent Event [Member]
Subsequent event
Extension period	5 years
License fees payable in five annual installments	$5,000,000
Number of annual installments in which license fees are payable	5

QUARTERLY_RESULTS_OF_OPERATION2

QUARTERLY RESULTS OF OPERATIONS (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
Laboratory service revenue	$1,504								$1,504
License fee revenue				294					294	4,144	4,144
Revenue					1,036	1,036	1,036	1,036
Cost of revenue	3,401	924							4,325
Gross margin	-1,897	-924		294	1,036	1,036	1,036	1,036	-2,527	4,144	4,144
Research and development	4,992	9,073	7,174	7,430	6,713	6,982	6,457	7,526	28,669	27,678	42,131
General and administrative	10,625	8,994	6,230	4,586	3,687	3,686	3,628	2,648	30,435	13,649	9,900
Sales and marketing	15,069	13,217	6,166	4,456	2,902	1,615	3,302	1,759	38,908	9,578	4,755
Loss from operations	-32,583	-32,208	-19,570	-16,178	-12,266	-11,247	-12,351	-10,897	-100,539	-46,761	-52,642
Investment income	150	160	146	86	96	103	55	62	542	316	262
Interest expense	-11	-12	-13	-15	-16	-16	-18	-19	-51	-69	-41
Net loss	($32,444)	($32,060)	($19,437)	($16,107)	($12,186)	($11,160)	($12,314)	($10,854)	($100,048)	($46,514)	($52,421)
Net loss per share-basic and diluted (in dollars per share)	($0.38)	($0.39)	($0.24)	($0.23)	($0.17)	($0.16)	($0.19)	($0.17)	($1.25)	($0.69)	($0.88)
Weighted average common shares outstanding-basic and diluted (in shares)	84,734	82,941	82,048	70,987	70,757	70,559	64,699	63,836	80,232	67,493	59,481