EPIRUS Biopharmaceuticals (EPRSQ) 10-Q 4 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 31, 2013
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Entity Registrant Name	'Zalicus Inc.	'
Entity Central Index Key	'0001135906	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	26,089,885

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$9,923	$4,531
Restricted cash	50	50
Short-term investments	8,194	30,059
Accounts receivable	2,019	3,045
Prepaid expenses and other current assets	667	684
Total current assets	20,853	38,369
Property and equipment, net	2,690	3,535
Intangible asset, net	11,112	17,654
Restricted cash and other assets	1,802	1,817
Total assets	36,457	61,375
Current liabilities:	'	'
Accounts payable	1,222	3,261
Accrued expenses and other current liabilities	5,199	4,841
Deferred revenue	2,819	4,918
Current portion of term loan payable	6,731	6,327
Current portion of lease incentive obligation	284	284
Total current liabilities	16,255	19,631
Term loan payable, net of current portion	3,695	8,772
Deferred revenue, net of current portion	'	600
Deferred rent, net of current portion	346	457
Lease incentive obligation, net of current portion	662	875
Other long-term liabilities	'	14
Stockholders' equity:	'	'
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares issued and outstanding	'	'
Common stock, $0.001 par value; 200,000 shares authorized; 24,424 and 21,170 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	24	21
Additional paid-in capital	385,636	372,018
Accumulated other comprehensive income	'	10
Accumulated deficit	-370,161	-341,023
Stockholders' equity	15,499	31,026
Total liabilities and stockholders' equity	$36,457	$61,375

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Per Share data, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	24,424	21,170
Common stock, shares outstanding	24,424	21,170

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenue:	'	'	'	'
Royalties	$1,510	$1,386	$4,655	$3,755
cHTS services and other collaborations	1,890	2,132	6,310	5,007
Total revenue	3,400	3,518	10,965	8,762
Operating expenses:	'	'	'	'
Research and development	9,343	12,050	26,267	32,493
General and administrative	2,077	2,201	6,178	7,172
Amortization of intangible	2,180	974	6,541	2,920
Restructuring	'	-17	'	1,112
Total operating expenses	13,600	15,208	38,986	43,697
Loss from operations	-10,200	-11,690	-28,021	-34,935
Interest income	6	35	43	120
Interest expense	-342	-532	-1,175	-1,686
Other income	7	13	15	20
Net loss before provision for income taxes	-10,529	-12,174	-29,138	-36,481
Income tax benefit	'	'	'	441
Net loss	-10,529	-12,174	-29,138	-36,040
Net loss per share-basic and diluted	($0.46)	($0.59)	($1.33)	($1.90)
Weighted average number of common shares used in net loss per share calculation-basic and diluted	22,931,109	20,760,483	21,952,913	19,011,523
Comprehensive loss	($10,528)	($12,171)	($29,148)	($36,022)

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flow (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Operating activities	'	'
Net loss	($29,138)	($36,040)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	7,555	4,060
Noncash restructuring charge	'	45
Noncash interest expense	140	207
Noncash rent expense	-213	-214
Stock-based compensation expense	1,574	1,458
Gain on sale of assets	-7	-8
Foreign exchange loss	'	3
Decrease in deferred rent	-111	-111
Changes in assets and liabilities:	'	'
Decrease (increase) in accounts receivable	1,026	-1,212
Decrease in prepaid expenses and other assets	33	376
(Decrease) increase in accounts payable	-2,039	448
(Decrease) increase in accrued restructuring	-34	186
Increase (decrease) in accrued expenses and other long-term liabilities	378	-208
Decrease in deferred revenue	-2,699	-386
Net cash used in operating activities	-23,535	-31,396
Investing activities	'	'
Purchases of property and equipment	-168	-42
Proceeds from sale of assets	7	284
Purchases of short-term investments	-30,338	-95,457
Sales and maturities of short-term investments	52,203	106,316
Decrease in restricted cash	'	50
Net cash provided by investing activities	21,704	11,151
Financing activities	'	'
Repayment of term loan	-4,809	-2,771
Proceeds from issuance of common stock, net of issuance costs	12,040	29,111
Proceeds from exercise of stock options	7	125
Net cash provided by financing activities	7,238	26,465
Effect of exchange rate changes on cash and cash equivalents	-15	1
Net increase in cash and cash equivalents	5,392	6,221
Cash and cash equivalents at beginning of the period	4,531	2,750
Cash and cash equivalents at end of the period	9,923	8,971
Supplemental cash flow information	'	'
Cash paid for interest	$1,030	$1,422

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Basis of Presentation	'
	1. Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting and as required by Regulation S-X, Rule 10-01. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (including those which are normal and recurring) considered necessary for a fair presentation of the interim financial information have been included. When preparing financial statements in conformity with GAAP, the Company must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the date of the financial statements. Actual results could differ from those estimates. Additionally, operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2013. For further information, refer to the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 as filed with the Securities and Exchange Commission (“SEC”) on March 7, 2013.
	Reverse Stock Split
	The Company effected a 1-for-6 reverse stock split of its outstanding common stock on October 3, 2013. The accompanying unaudited condensed consolidated financial statements and accompanying notes to the unaudited condensed consolidated financial statements give retroactive effect to the reverse stock split for all periods presented. The shares of common stock retained a par value of $0.001 per share. Accordingly, stockholders’ deficit reflects the reverse stock split by reclassifying from common stock to additional paid-in capital an amount equal to the par value of the decreased shares resulting from the reverse stock split.
	As a result of the reverse stock split, the Company regained compliance with the $1.00 per share minimum bid price requirement for continued listing on The Nasdaq Capital Market effective October 14, 2013.

Significant_Accounting_Policie

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	2. Significant Accounting Policies
	In the nine months ended September 30, 2013, there were no changes to the Company’s significant accounting policies identified in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2012, except as described below.
	Reclassifications
	Certain amounts in the prior year financial statements have been reclassified to conform to the current period presentation. During 2013, the Company changed its presentation of revenue to present royalty income separately from collaboration revenue and to combine government grant revenue with collaboration revenue. As a result, the Company reclassified (i) $1,386 and $3,755 from collaboration revenue to royalties for the three and nine months ended September 30, 2012, respectively, and (ii) $137 and $339 from government contracts and grants to cHTS services and other collaborations for the three and nine months ended September 30, 2012, respectively. The reclassifications had no effect on the Company’s previously reported condensed consolidated balance sheet or statement of cash flows as of and for the nine months ended September 30, 2012.
	Recent Accounting Pronouncements
	Comprehensive Loss
	In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-02). ASU 2013-02 amended existing guidance by requiring additional disclosure either on the face of the income statement or in the notes to the financial statements of significant amounts reclassified out of accumulated other comprehensive income. In addition, ASU 2013-02 requires disclosure regarding changes in accumulated other comprehensive income balances. ASU 2013-02 is effective for the Company for interim and annual periods ending after December 15, 2012. The adoption of ASU 2013-02 had no effect on the Company’s results of operations or financial position.
	Unrecognized Tax Benefits
	In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). ASU 2013-11 amended existing guidance related to the presentation of unrecognized tax benefits and allows for the reduction of a deferred tax asset for a net operating loss (“NOL”) 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. ASU 2013-11 is effective for annual and interim periods for fiscal years beginning after December 15, 2013, and early adoption is permitted. Because the guidance relates only to the presentation of unrecognized tax benefits, the Company does not expect the adoption in January 2014 to have a material effect on the Company’s results of operations or financial position.

Fair_Value_Disclosure

Fair Value Disclosure	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosure	'
	3. Fair Value Disclosure
	The Company has certain financial assets and liabilities recorded at fair value which have been classified as Level 1, 2 or 3 within the fair value hierarchy as described in the accounting standards for fair value measurements.
		•		Level 1—Quoted market prices in active markets for identical assets or liabilities. Assets utilizing Level 1 inputs include money market funds and U.S. government securities;
		•		Level 2—Inputs other than Level 1 inputs that are either directly or indirectly observable, such as quoted market prices, interest rates and yield curves. Assets utilizing Level 2 inputs include U.S. agency securities, including direct issuance bonds and corporate bonds; and
		•		Level 3—Unobservable inputs developed using estimates and assumptions developed by the Company, which reflect those that a market participant would use.
	The following table summarizes the financial instruments measured at fair value on a recurring basis in the accompanying consolidated balance sheet as of September 30, 2013:
			Fair Value Measurement as of September 30, 2013
			Level 1		Level 2		Level 3		Total
	Assets:
	Short-term investments		$	8,194	$	—	$	—	$	8,194
	The fair value of the Company’s term loan payable is determined using current applicable rates for similar instruments as of the balance sheet date. The carrying value of the Company’s term loan payable approximates fair value because the Company’s interest rate yield is near current market rate yields. The disclosed fair value of the Company’s term loan payable is a Level 3 liability within the fair value hierarchy.

ShortTerm_Investments

Short-Term Investments	9 Months Ended
	Sep. 30, 2013
Cash And Cash Equivalents [Abstract]	'
Short-Term Investments	'
	4. Short-Term Investments
	Short-term investments consist primarily of investments with original maturities greater than ninety days and less than one year when purchased and also investments in money market funds. The Company classifies these investments as available-for-sale. Unrealized gains and losses are included in other comprehensive loss.
	Short-term investments at September 30, 2013 and December 31, 2012 consisted of the following (see Note 3):
		Amortized		Unrealized				Unrealized				Fair
		Cost		Gains				Losses				Value
	September 30, 2013
	Money market funds	$	8,194	$	—	$			—			$	8,194
	December 31, 2012
	Corporate debt securities	$	21,525	$	10			$	—			$	21,535
	Money market funds		8,524		—				—				8,524
		$	30,049	$	10			$	—			$	30,059
	The amortized cost and estimated fair value of investments in debt securities, which excludes money market funds, at September 30, 2013 and December 31, 2012, by contractual maturity, were as follows:
		September 30, 2013				December 31, 2012
		Cost		Estimated		Cost				Estimated
				Fair Value						Fair Value
	Maturing in one year or less	$	—	$	—	$	21,525			$	21,535
	The cost of securities sold is determined based on the specific identification method for purposes of recording realized gains and losses. Gross realized gains and losses on the sales of investments have not been material to the Company’s results of operations for any period presented. As a matter of investment policy, the Company does not invest in auction rate securities.

Accrued_Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Accrued Expenses	'
	5. Accrued Expenses
	Accrued expenses consisted of the following:
		September 30,		December 31,
		2013		2012
	Accrued clinical trial costs	$	2,206	$	1,535
	Accrued payroll and related benefits		1,158		1,696
	Accrued professional fees		308		179
	Accrued research collaboration expense		890		515
	Accrued other expenses		637		916
		$	5,199	$	4,841

Net_Loss_Per_Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Net Loss Per Share	'
	6. Net Loss Per Share
	Basic and diluted net loss per common share is calculated by dividing net loss applicable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. The Company’s potentially dilutive shares, which include outstanding stock options, unvested restricted stock units, warrants and stock issuance commitments, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.
	The following potentially dilutive securities outstanding, prior to the use of the treasury stock method, have been excluded from the computation of diluted weighted-average shares outstanding as of September 30, 2013 and 2012, as they would be anti-dilutive.
		As of September 30,
		2013		2012
	Options outstanding		1,747,058		1,386,799
	Unvested restricted stock units		72,916		62,500
	Warrants outstanding		68,600		68,600
	Outstanding stock issuance commitments (See Note 7)		—		24,306

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock-Based Compensation	'
	7. Stock-Based Compensation
	The Company recognized, for the three and nine months ended September 30, 2013 and 2012, stock-based compensation expense of approximately $526 and $489 and $1,574 and $1,458, respectively, in connection with its stock-based payment awards.
	Stock Options
	A summary of the status of the Company’s stock option plans at September 30, 2013 and changes during the nine months then ended is presented in the table and narrative below:
		Options			Weighted-		Weighted-		Aggregate
					Average		Average		Intrinsic Value
					Exercise Price		Remaining
							Contractual
							Term (In Years)
	Outstanding at December 31, 2012		1,314,196		$	9.37
	Granted		604,901			4.53
	Exercised		(2,916	)		2.46
	Cancelled		(169,123	)		10.92
	Outstanding at September 30, 2013		1,747,058		$	7.56		7.64	$	2,638
	Vested or expected to vest at September 30, 2013		1,429,691		$	8.2		7.28	$	1,817
	Exercisable at September 30, 2013		777,985		$	9.70		6.24	$	821
	The aggregate intrinsic value in the table above represents the value (the difference between the Company’s closing common stock price on the last trading day of the nine months ended September 30, 2013 and the exercise price of the options, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on September 30, 2013. As of September 30, 2013, there was $2,490 of total unrecognized stock-based compensation expense related to stock options granted under the plans. The expense is expected to be recognized over a weighted-average period of 2.1 years.
	Included in the cancelled options in the table above are 34,167 stock options that expired on January 1, 2013 as a result of performance-based vesting criteria not being achieved, and an additional 34,167 stock options that expired on July 1, 2013 as a result of separate performance-based vesting criteria not being achieved.
	The table above also includes 297,500 stock options issued on January 3, 2013 with performance-based vesting criteria. The fair value of the options granted was determined using the Black-Scholes pricing model. Stock-based compensation expense for stock options with performance-based vesting criteria is only recognized when it is probable that the vesting criteria will be achieved. For the nine months ended September 30, 2013, the Company did not recognize any expense related to these stock options.
	During the three and nine months ended September 30, 2013 and 2012, respectively, the weighted-average assumptions used in the Black-Scholes pricing model for new grants were as follows:
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013		2012
	Volatility factor		108.68%			105.37%		106.47%		102.39%
	Risk-free interest rate		1.71%			0.83%		1.03%		1.30%
	Dividend yield		—			—		—		—
	Expected term (in years)		6.0			6.0		6.0		6.0
	Restricted Stock
	A summary of the status of non-vested restricted stock units (RSUs) as of September 30, 2013 and changes during the nine months then ended is as follows:
		Restricted Stock			Weighted-		Weighted		Aggregate
		Units			Average		Average		Intrinsic Value
					Grant Date Fair		Remaining
					Value		Contractual
							Term (in Years)
	Nonvested at December 31, 2012		62,500		$	5.70
	Granted		41,666			4.56
	Vested		(31,250	)		5.70
	Cancelled		—			—
	Nonvested at September 30, 2013		72,916		$	5.05		1.42	$	525
	As of September 30, 2013, there was $189 of total unrecognized stock-based compensation expense related to non-vested RSUs granted under the Company’s Amended and Restated 2004 Incentive Plan (the “2004 Plan”). The expense is expected to be recognized over a weighted-average period of 1.4 years.
	On February 22, 2012, the Company granted 58,333 shares of common stock to a former executive as part of a separation agreement. The shares were granted from the 2004 Plan. The shares were issued over the period from September 4, 2012 through February 1, 2013. The grant date fair value of the shares was $354 and was recorded as a settlement of a previously accrued liability.

Equity_Offering

Equity Offering	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Equity Offering	'
	8. Equity Offering
	On May 8, 2013, the Company entered into a purchase agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“LPC”), pursuant to which the Company has the right to sell to LPC up to $25,000 of shares of the Company’s common stock, par value $0.001 per share (“Common Stock”), subject to certain limitations and conditions set forth in the Purchase Agreement, over the period from May 8, 2013 to May 1, 2015.
	As consideration for entering into the Purchase Agreement, the Company also issued LPC 133,333 shares of Common Stock. The Company did not receive any cash proceeds from the issuance of these 133,333 shares. Pursuant to the Purchase Agreement, on May 8, 2013, LPC also purchased 550,691 shares of Common Stock at $3.63 per share, for gross proceeds of $2,000.
	Under the Purchase Agreement, on any business day and as often as every other business day over the 24-month term of the Purchase Agreement, and up to an aggregate amount of an additional $23,000 (subject to certain limitations) in shares of Common Stock, the Company has the right, from time to time, at its sole discretion and subject to certain conditions to direct LPC to purchase up to 83,333 shares of Common Stock. The purchase price of shares of Common Stock pursuant to the Purchase Agreement will be based on prevailing market prices of Common Stock at the time of sales without any fixed discount, and the Company will control the timing and amount of any sales of Common Stock to LPC, but in no event will shares be sold to LPC on a day the Common Stock closing price is less than $2.40 per share, subject to adjustment. In addition, the Company may direct LPC to purchase additional amounts as accelerated purchases if on the date of a regular purchase the closing sale price of the Common Stock is not below $3.00 per share. There is no upper limit on the price per share that LPC could be obligated to pay for Common Stock under the Purchase Agreement. The Company has the right to terminate the Purchase Agreement at any time, at no cost or penalty
	In the three months ended September 30, 2013, the Company issued an additional 2,192,833 shares of Common Stock to LPC under the Purchase Agreement for additional gross proceeds of approximately $8,912. In the nine months ended September 30, 2013, the Company issued an aggregate of 3,210,191 shares of Common Stock to LPC under the Purchase Agreement, including the 133,333 shares of Common Stock issued to LPC as consideration for entering into the Purchase Agreement, for aggregate gross proceeds of approximately $12,076.
	Between October 1, 2013 and October 24, 2013, the Company issued an additional 1,665,995 shares of Common Stock to LPC under the Purchase Agreement for additional gross proceeds of approximately $7,734. On a cumulative basis, from the effective date of the Purchase Agreement through October 24, 2013, the Company has issued a total of 4,876,186 shares of Common Stock to LPC, including the 133,333 shares of Common Stock issued to LPC as consideration for entering into the Purchase Agreement, for aggregate gross proceeds of $19,811.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Reclassifications	'
	Reclassifications
	Certain amounts in the prior year financial statements have been reclassified to conform to the current period presentation. During 2013, the Company changed its presentation of revenue to present royalty income separately from collaboration revenue and to combine government grant revenue with collaboration revenue. As a result, the Company reclassified (i) $1,386 and $3,755 from collaboration revenue to royalties for the three and nine months ended September 30, 2012, respectively, and (ii) $137 and $339 from government contracts and grants to cHTS services and other collaborations for the three and nine months ended September 30, 2012, respectively. The reclassifications had no effect on the Company’s previously reported condensed consolidated balance sheet or statement of cash flows as of and for the nine months ended September 30, 2012.
Comprehensive Loss	'
	Comprehensive Loss
	In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-02). ASU 2013-02 amended existing guidance by requiring additional disclosure either on the face of the income statement or in the notes to the financial statements of significant amounts reclassified out of accumulated other comprehensive income. In addition, ASU 2013-02 requires disclosure regarding changes in accumulated other comprehensive income balances. ASU 2013-02 is effective for the Company for interim and annual periods ending after December 15, 2012. The adoption of ASU 2013-02 had no effect on the Company’s results of operations or financial position.
Unrecognized Tax Benefits	'
	Unrecognized Tax Benefits
	In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). ASU 2013-11 amended existing guidance related to the presentation of unrecognized tax benefits and allows for the reduction of a deferred tax asset for a net operating loss (“NOL”) 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. ASU 2013-11 is effective for annual and interim periods for fiscal years beginning after December 15, 2013, and early adoption is permitted. Because the guidance relates only to the presentation of unrecognized tax benefits, the Company does not expect the adoption in January 2014 to have a material effect on the Company’s results of operations or financial position.

Fair_Value_Disclosure_Tables

Fair Value Disclosure (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Summary of Financial Instruments Measured at Fair Value on a Recurring Basis	'
	The following table summarizes the financial instruments measured at fair value on a recurring basis in the accompanying consolidated balance sheet as of September 30, 2013:
		Fair Value Measurement as of September 30, 2013
		Level 1		Level 2		Level 3		Total
	Assets:
	Short-term investments	$	8,194	$	—	$	—	$	8,194

ShortTerm_Investments_Tables

Short-Term Investments (Tables)	9 Months Ended
	Sep. 30, 2013
Cash And Cash Equivalents [Abstract]	'
Short-Term Investments	'
	Short-term investments at September 30, 2013 and December 31, 2012 consisted of the following (see Note 3):
		Amortized		Unrealized				Unrealized				Fair
		Cost		Gains				Losses				Value
	September 30, 2013
	Money market funds	$	8,194	$	—	$			—			$	8,194
	December 31, 2012
	Corporate debt securities	$	21,525	$	10			$	—			$	21,535
	Money market funds		8,524		—				—				8,524
		$	30,049	$	10			$	—			$	30,059
Amortized Cost and Estimated Fair Value of Investments in Debt Securities Excluding Money Market Funds	'
	The amortized cost and estimated fair value of investments in debt securities, which excludes money market funds, at September 30, 2013 and December 31, 2012, by contractual maturity, were as follows:
		September 30, 2013				December 31, 2012
		Cost		Estimated		Cost				Estimated
				Fair Value						Fair Value
	Maturing in one year or less	$	—	$	—	$	21,525			$	21,535

Accrued_Expenses_Tables

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Accrued Expenses	'
	Accrued expenses consisted of the following:
		September 30,		December 31,
		2013		2012
	Accrued clinical trial costs	$	2,206	$	1,535
	Accrued payroll and related benefits		1,158		1,696
	Accrued professional fees		308		179
	Accrued research collaboration expense		890		515
	Accrued other expenses		637		916
		$	5,199	$	4,841

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Antidilutive Securities Excluded from Computation of Diluted Weighted-Average Shares Outstanding	'
	The following potentially dilutive securities outstanding, prior to the use of the treasury stock method, have been excluded from the computation of diluted weighted-average shares outstanding as of September 30, 2013 and 2012, as they would be anti-dilutive.
		As of September 30,
		2013		2012
	Options outstanding		1,747,058		1,386,799
	Unvested restricted stock units		72,916		62,500
	Warrants outstanding		68,600		68,600
	Outstanding stock issuance commitments (See Note 7)		—		24,306

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2013
Summary of Stock Option Activity	'
	A summary of the status of the Company’s stock option plans at September 30, 2013 and changes during the nine months then ended is presented in the table and narrative below:
		Options			Weighted-		Weighted-		Aggregate
					Average		Average		Intrinsic Value
					Exercise Price		Remaining
							Contractual
							Term (In Years)
	Outstanding at December 31, 2012		1,314,196		$	9.37
	Granted		604,901			4.53
	Exercised		(2,916	)		2.46
	Cancelled		(169,123	)		10.92
	Outstanding at September 30, 2013		1,747,058		$	7.56		7.64	$	2,638
	Vested or expected to vest at September 30, 2013		1,429,691		$	8.2		7.28	$	1,817
	Exercisable at September 30, 2013		777,985		$	9.7		6.24	$	821
Assumptions Used in the Black-Scholes Pricing Model	'
	During the three and nine months ended September 30, 2013 and 2012, respectively, the weighted-average assumptions used in the Black-Scholes pricing model for new grants were as follows:
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013		2012
	Volatility factor		108.68%			105.37%		106.47%		102.39%
	Risk-free interest rate		1.71%			0.83%		1.03%		1.30%
	Dividend yield		—			—		—		—
	Expected term (in years)		6.0			6.0		6.0		6.0
Restricted Stock Units (RSUs) [Member]	'
Non-Vested Restricted Stock Units (RSUs)	'
	A summary of the status of non-vested restricted stock units (RSUs) as of September 30, 2013 and changes during the nine months then ended is as follows:
		Restricted Stock			Weighted-		Weighted		Aggregate
		Units			Average		Average		Intrinsic Value
					Grant Date Fair		Remaining
					Value		Contractual
							Term (in Years)
	Nonvested at December 31, 2012		62,500		$	5.70
	Granted		41,666			4.56
	Vested		(31,250	)		5.70
	Cancelled		—			—
	Nonvested at September 30, 2013		72,916		$	5.05		1.42	$	525

Basis_of_Presentation_Addition

Basis of Presentation - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Oct. 14, 2013	Oct. 03, 2013
			Subsequent Event [Member]	Subsequent Event [Member]
Schedule Of Description Of Business [Line Items]	'	'	'	'
Common stock, par value	$0.00	$0.00	'	$0.00
Reverse stock split ratio	'	'	'	0.17
Minimum bid price	'	'	$1	'

Significant_Accounting_Policie2

Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2012
Regulatory Assets [Abstract]	'	'
Reclassification of revenue from collaboration revenue to royalty income	$1,386	$3,755
Reclassification of revenue from grant revenue to collaboration revenue	$137	$339

Fair_Value_Disclosure_Summary_

Fair Value Disclosure - Summary of Financial Instruments Measured at Fair Value on a Recurring Basis (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets:	'	'
Short-term investments	$8,194	$30,059
Level 1 [Member]	'	'
Assets:	'	'
Short-term investments	8,194	'
Level 2 [Member]	'	'
Assets:	'	'
Short-term investments	'	'
Level 3 [Member]	'	'
Assets:	'	'
Short-term investments	'	'

ShortTerm_Investments_Addition

Short-Term Investments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
Maximum [Member]	'
Schedule of Available-for-sale Securities [Line Items]	'
Short term investment period	'1 year
Minimum [Member]	'
Schedule of Available-for-sale Securities [Line Items]	'
Short term investment period	'90 days

ShortTerm_Investments_ShortTer

Short-Term Investments - Short-Term Investments (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	'	$30,049
Unrealized Gains	'	10
Unrealized Losses	'	'
Fair Value	8,194	30,059
Corporate Debt Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	'	21,525
Unrealized Gains	'	10
Unrealized Losses	'	'
Fair Value	'	21,535
Money Market Funds [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	8,194	8,524
Unrealized Gains	'	'
Unrealized Losses	'	'
Fair Value	$8,194	$8,524

ShortTerm_Investments_Amortize

Short-Term Investments- Amortized Cost and Estimated Fair Value of Investments in Debt Securities Excluding Money Market Funds (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Amortized Cost And Fair Value Debt Securities [Abstract]	'	'
Maturing in one year or less, Cost	'	$21,525
Maturing in one year or less, Estimated Fair Value	'	$21,535

Accrued_Expenses_Accrued_Expen

Accrued Expenses - Accrued Expenses (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Payables And Accruals [Abstract]	'	'
Accrued clinical trial costs	$2,206	$1,535
Accrued payroll and related benefits	1,158	1,696
Accrued professional fees	308	179
Accrued research collaboration expense	890	515
Accrued other expenses	637	916
Accrued expenses	$5,199	$4,841

Net_Loss_Per_Share_Antidilutiv

Net Loss Per Share - Antidilutive Securities Excluded from Computation of Diluted Weighted-Average Shares Outstanding (Detail)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Options Outstanding [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Securities excluded from the computation of diluted weighted-average shares outstanding	1,747,058	1,386,799
Unvested Restricted Stock Units [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Securities excluded from the computation of diluted weighted-average shares outstanding	72,916	62,500
Warrants Outstanding [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Securities excluded from the computation of diluted weighted-average shares outstanding	68,600	68,600
Outstanding Stock Issuance Commitments [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Securities excluded from the computation of diluted weighted-average shares outstanding	'	24,306

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Jan. 03, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Feb. 22, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Stock-based compensation expense	'	$526	$489	$1,574	$1,458	'
Cancelled stock options	'	'	'	169,123	'	'
Stock options issued	297,500	'	'	'	'	'
Shares of common stock granted to a former executive	'	'	'	'	'	58,333
Grant date fair value of shares of common stock granted to a former executive	'	354	'	354	'	'
Equity issuance starting date	'	'	'	4-Sep-12	'	'
Equity issuance ending date	'	'	'	1-Feb-13	'	'
Options Outstanding [Member]	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Unrecognized stock-based compensation expense	'	2,490	'	2,490	'	'
Unrecognized stock based compensation expense, weighted average recognition period, years	'	'	'	'2 years 1 month 6 days	'	'
Stock Option Expired 1 January 2013 [Member]	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Cancelled stock options	'	'	'	34,167	'	'
Stock options expired	'	'	'	1-Jan-13	'	'
Stock Option Expired 1 July 2013 [Member]	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Cancelled stock options	'	'	'	34,167	'	'
Stock options expired	'	'	'	1-Jul-13	'	'
Restricted Stock Units (RSUs) [Member]	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Unrecognized stock-based compensation expense	'	$189	'	$189	'	'
Unrecognized stock based compensation expense, weighted average recognition period, years	'	'	'	'1 year 4 months 24 days	'	'

StockBased_Compensation_Summar

Stock-Based Compensation - Summary of Stock Option Activity (Detail) (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Outstanding, Options, Beginning Balance	1,314,196
Granted, Options	604,901
Exercised, Options	-2,916
Cancelled, Options	-169,123
Outstanding, Options, Ending Balance	1,747,058
Vested or expected to vest, Options, Ending Balance	1,429,691
Exercisable, Options, Ending Balance	777,985
Outstanding, Weighted-Average Exercise Price, Beginning Balance	$9.37
Granted, Weighted-Average Exercise Price	$4.53
Exercised, Weighted-Average Exercise Price	$2.46
Cancelled, Weighted-Average Exercise Price	$10.92
Outstanding, Weighted-Average Exercise Price, Ending Balance	$7.56
Vested or expected to vest, Weighted-Average Exercise Price, Ending Balance	$8.20
Exercisable, Weighted-Average Exercise Price, Ending Balance	$9.70
Outstanding, Weighted-Average Remaining Contractual Term (In Years), Ending Balance	'7 years 7 months 21 days
Vested or expected to vest, Weighted-Average Remaining Contractual Term (In Years), Ending Balance	'7 years 3 months 11 days
Exercisable, Weighted-Average Remaining Contractual Term (In Years), Ending Balance	'6 years 2 months 27 days
Outstanding, Aggregate Intrinsic Value, Ending Balance	$2,638
Vested or expected to vest, Aggregate Intrinsic Value, Ending Balance	1,817
Exercisable, Aggregate Intrinsic Value, Ending Balance	$821

StockBased_Compensation_Assump

Stock-Based Compensation - Assumptions Used in the Black-Scholes Pricing Model (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'	'	'	'
Volatility factor	108.68%	105.37%	106.47%	102.39%
Risk-free interest rate	1.71%	0.83%	1.03%	1.30%
Dividend yield	'	'	'	'
Expected term (in years)	'6 years	'6 years	'6 years	'6 years

StockBased_Compensation_Nonves

Stock-Based Compensation - Non-vested Restricted Stock Units (RSUs) (Detail) (Restricted Stock Units (RSUs) [Member], USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013
Restricted Stock Units (RSUs) [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Nonvested, Restricted Stock Units, Beginning Balance	62,500
Granted, Restricted Stock Units	41,666
Vested, Restricted Stock Units	-31,250
Cancelled, Restricted Stock Units	'
Nonvested, Restricted Stock Units, Ending Balance	72,916
Nonvested, Weighted-Average Grant Date Fair Value, Beginning Balance	$5.70
Granted, Weighted-Average Grant Date Fair Value	$4.56
Vested, Weighted-Average Grant Date Fair Value	$5.70
Cancelled, Weighted-Average Grant Date Fair Value	'
Nonvested, Weighted-Average Grant Date Fair Value, Ending Balance	$5.05
Nonvested, Weighted Average Remaining Contractual Term, Ending Balance	'1 year 5 months 1 day
Nonvested, Aggregate Intrinsic Value, Ending Balance	$525

Equity_Offering_Additional_Inf

Equity Offering - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Oct. 03, 2013	Sep. 30, 2013	Oct. 24, 2013	Sep. 30, 2013	Oct. 24, 2013	31-May-13	Jun. 30, 2013	Sep. 30, 2013	8-May-13
In Thousands, except Share data, unless otherwise specified			Subsequent Event [Member]	Shares Issued to Lpc Under Purchase Agreement Lot One [Member]	Shares Issued to Lpc Under Purchase Agreement Lot One [Member]	Shares Issued to Lpc Under Purchase Agreement Lot Two [Member]	Shares Issued to Lpc Under Purchase Agreement Lot Two [Member]	LPC [Member]	LPC [Member]	LPC [Member]	LPC [Member]
					Subsequent Event [Member]		Subsequent Event [Member]
Equity Offering [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Purchase agreement date	'	'	'	'	'	'	'	8-May-13	'	'	'
Common stock, maximum value	'	'	'	'	'	'	'	$25,000	'	'	'
Common stock, par value	$0.00	$0.00	$0.00	'	'	'	'	'	'	'	$0.00
Common stock issued	'	'	'	'	'	'	'	'	'	133,333	'
Common stock ,Shares issued	'	'	'	2,192,833	1,665,995	3,210,191	4,876,186	550,691	'	'	'
Common stock, per share	'	'	'	'	'	'	'	'	'	$3.63	'
Gross proceeds from sale of common stock	'	'	'	8,912	7,734	12,076	19,811	'	2,000	'	'
Purchase agreement period	'	'	'	'	'	'	'	'	'	'24 months	'
Common stock, remaining value	'	'	'	'	'	'	'	'	'	$23,000	'
Common stock, maximum number of shares purchased	'	'	'	'	'	'	'	'	'	83,333	'
Closing price of common stock below which share cannot be sold	'	'	'	'	'	'	'	'	'	$2.40	'
Price limit of common stock per share for accelerated purchase	'	'	'	'	'	'	'	'	'	$3	'