Document_and_Entity_Informatio
| Document and Entity Information | 9 Months Ended | |
| Sep. 30, 2013 | Oct. 31, 2013 | |
| Document and Entity Information | ' | ' |
| Entity Registrant Name | 'SYNTA PHARMACEUTICALS CORP | ' |
| Entity Central Index Key | '0001157601 | ' |
| Document Type | '10-Q | ' |
| Document Period End Date | 30-Sep-13 | ' |
| Amendment Flag | 'false | ' |
| Current Fiscal Year End Date | '--12-31 | ' |
| Entity Current Reporting Status | 'Yes | ' |
| Entity Filer Category | 'Accelerated Filer | ' |
| Entity Common Stock, Shares Outstanding | ' | 69,107,506 |
| Document Fiscal Year Focus | '2013 | ' |
| Document Fiscal Period Focus | 'Q3 | ' |
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 | $25,477 | $81,512 |
| Marketable securities | 27,907 | 19,087 |
| Prepaid expenses and other current assets | 1,358 | 786 |
| Total current assets | 54,742 | 101,385 |
| Property and equipment, net | 1,488 | 1,174 |
| Other assets | 433 | 458 |
| Total assets | 56,663 | 103,017 |
| Current liabilities: | ' | ' |
| Accounts payable | 5,693 | 5,661 |
| Accrued contract research costs | 8,352 | 4,761 |
| Other accrued liabilities | 4,497 | 5,127 |
| Current portion of capital lease obligations | 4 | 13 |
| Current portion of term loans | 7,385 | 7,924 |
| Total current liabilities | 25,931 | 23,486 |
| Long-term liabilities: | ' | ' |
| Capital lease obligations, net of current portion | ' | 1 |
| Term loans, net of current portion | 16,120 | 4,464 |
| Total long-term liabilities | 16,120 | 4,465 |
| Total liabilities | 42,051 | 27,951 |
| Stockholders' equity: | ' | ' |
| Preferred stock, par value $0.0001 per share Authorized: 5,000,000 shares at September 30, 2013 and December 31, 2012; no shares issued and outstanding at September 30, 2013 and December 31, 2012 | ' | ' |
| Common stock, par value $0.0001 per share Authorized: 200,000,000 shares at September 30, 2013 and 100,000,000 shares at December 31, 2012; 69,103,073 and 68,930,082 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively | 7 | 7 |
| Additional paid-in-capital | 541,849 | 536,277 |
| Accumulated other comprehensive income | 6 | 2 |
| Accumulated deficit | -527,250 | -461,220 |
| Total stockholders' equity | 14,612 | 75,066 |
| Total liabilities and stockholders' equity | $56,663 | $103,017 |
Condensed_Consolidated_Balance1
| Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
| Condensed Consolidated Balance Sheets | ' | ' |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
| Preferred stock, Authorized shares | 5,000,000 | 5,000,000 |
| Preferred stock, shares issued | 0 | 0 |
| Preferred stock, shares outstanding | 0 | 0 |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 |
| Common stock, Authorized shares | 200,000,000 | 100,000,000 |
| Common stock, shares issued | 69,103,073 | 68,930,082 |
| Common stock, shares outstanding | 69,103,073 | 68,930,082 |
Condensed_Consolidated_Stateme
| Condensed Consolidated Statements of Operations (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 |
| Revenues: | ' | ' | ' | ' |
| Grant revenues | $0 | $0 | $0 | $147 |
| Total revenues | ' | ' | ' | 147 |
| Operating expenses: | ' | ' | ' | ' |
| Research and development | 17,623 | 11,743 | 51,879 | 35,061 |
| General and administrative | 4,171 | 2,796 | 12,236 | 8,324 |
| Total operating expenses | 21,794 | 14,539 | 64,115 | 43,385 |
| Loss from operations | -21,794 | -14,539 | -64,115 | -43,238 |
| Interest expense, net | -721 | -457 | -1,915 | -1,429 |
| Net loss | ($22,515) | ($14,996) | ($66,030) | ($44,667) |
| Net loss per common share: | ' | ' | ' | ' |
| Basic and diluted net loss per common share (in dollars per share) | ($0.33) | ($0.25) | ($0.96) | ($0.77) |
| Basic and diluted weighted average number of common shares outstanding (in shares) | 69,047,161 | 60,661,720 | 69,024,656 | 58,235,263 |
Condensed_Consolidated_Stateme1
| Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
| In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
| Condensed Consolidated Statements of Comprehensive Loss | ' | ' | ' | ' |
| Net loss | ($22,515) | ($14,996) | ($66,030) | ($44,667) |
| Other comprehensive income (loss): | ' | ' | ' | ' |
| Unrealized gain (loss) on available-for-sale securities | -3 | 4 | 4 | 5 |
| Comprehensive loss | ($22,518) | ($14,992) | ($66,026) | ($44,662) |
Condensed_Consolidated_Stateme2
| Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
| In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
| Cash flows from operating activities: | ' | ' |
| Net loss | ($66,030) | ($44,667) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
| Stock-based compensation expense | 4,490 | 2,359 |
| Depreciation and amortization | 373 | 623 |
| Changes in operating assets and liabilities: | ' | ' |
| Prepaid expenses and other current assets | -572 | -242 |
| Other assets | 25 | 165 |
| Accounts payable | 32 | 223 |
| Accrued contract research costs | 3,591 | 878 |
| Other accrued liabilities | -630 | -951 |
| Net cash used in operating activities | -58,721 | -41,612 |
| Cash flows from investing activities: | ' | ' |
| Purchases of marketable securities | -71,183 | -45,887 |
| Maturities of marketable securities | 62,367 | 29,845 |
| Purchases of property and equipment | -687 | -421 |
| Net cash used in investing activities | -9,503 | -16,463 |
| Cash flows from financing activities: | ' | ' |
| Proceeds from issuance of common stock, excluding to related parties, and exercise of common stock options, net of transaction costs | 1,082 | 28,960 |
| Proceeds from the sale of common stock to related parties | ' | 30,759 |
| Proceeds from term loans | 13,500 | ' |
| Payment of term loans | -2,383 | -2,268 |
| Payment of capital lease obligations | -10 | -9 |
| Net cash provided by financing activities | 12,189 | 57,442 |
| Net decrease in cash and cash equivalents | -56,035 | -633 |
| Cash and cash equivalents at beginning of period | 81,512 | 30,075 |
| Cash and cash equivalents at end of period | 25,477 | 29,442 |
| Supplemental disclosure of cash flow information: | ' | ' |
| Cash paid for interest | $1,918 | $1,335 |
Nature_of_Business
| Nature of Business | 9 Months Ended |
| Sep. 30, 2013 | |
| Nature of Business | ' |
| Nature of Business | ' |
| (1) Nature of Business | |
| Synta Pharmaceuticals Corp. (the Company) was incorporated in March 2000 and commenced operations in July 2001. The Company is a biopharmaceutical company focusing on discovering, developing and commercializing small molecule drugs to extend and enhance the lives of patients with severe medical conditions, including cancer and chronic inflammatory diseases. | |
| The Company is subject to risks common to emerging companies in the drug development and pharmaceutical industry including, but not limited to, uncertainty of product development and commercialization, lack of marketing and sales history, dependence on key personnel, uncertainty of market acceptance of products, product liability, uncertain protection of proprietary technology, potential inability to raise additional financing and compliance with the U.S. Food and Drug Administration and other government regulations. | |
Summary_of_Significant_Account
| Summary of Significant Accounting Policies | 9 Months Ended | |||||
| Sep. 30, 2013 | ||||||
| Summary of Significant Accounting Policies | ' | |||||
| Summary of Significant Accounting Policies | ' | |||||
| (2) Summary of Significant Accounting Policies | ||||||
| The accompanying condensed consolidated financial statements are unaudited, have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments necessary to present fairly the Company’s financial position as of September 30, 2013 and the consolidated results of operations and comprehensive loss for the three months and nine months ended September 30, 2013 and 2012, and the consolidated cash flows for the nine months ended September 30, 2013 and 2012. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for the three months and nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the year ending December 31, 2013 or for any other interim period or any other future year. For more complete financial information, these condensed financial statements, and the notes hereto, should be read in conjunction with the audited financial statements for the year ended December 31, 2012 included in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 14, 2013. | ||||||
| Principles of Consolidation | ||||||
| The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. | ||||||
| Use of Estimates | ||||||
| The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include contract research accruals, recoverability of long-lived assets, measurement of stock-based compensation, and the periods of performance under collaborative research and development agreements. The Company bases its estimates on historical experience and various other assumptions that management believes to be reasonable under the circumstances. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates. | ||||||
| Cash and Cash Equivalents | ||||||
| The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment in a money market fund to be cash equivalents. Changes in cash and cash equivalents may be affected by shifts in investment portfolio maturities, as well as actual cash disbursements to fund operations. | ||||||
| The primary objective of the Company’s investment activities is to preserve its capital for the purpose of funding operations and the Company does not enter into investments for trading or speculative purposes. The Company invests in money market funds and high-grade, short-term commercial paper, which are subject to minimal credit and market risk. The Company’s cash is deposited in a highly rated financial institution in the United States. Declines in interest rates, however, would reduce future investment income. | ||||||
| Marketable Securities | ||||||
| Marketable securities consist of investments in high-grade corporate obligations, and government and government agency obligations that are classified as available-for-sale. Since these securities are available to fund current operations they are classified as current assets on the consolidated balance sheets. | ||||||
| The Company adjusts the cost of available-for-sale debt securities for amortization of premiums and accretion of discounts to maturity. The Company includes such amortization and accretion as a component of interest expense, net. Realized gains and losses and declines in value, if any, that the Company judges to be other-than-temporary on available-for-sale securities are reported as a component of interest expense, net. To determine whether an other-than-temporary impairment exists, the Company considers whether it intends to sell the debt security and, if the Company does not intend to sell the debt security, it considers available evidence to assess whether it is more likely than not that it will be required to sell the security before the recovery of its amortized cost basis. During the three months and nine months ended September 30, 2013 and 2012, the Company determined it did not have any securities that were other-than-temporarily impaired. | ||||||
| Marketable securities are stated at fair value, including accrued interest, with their unrealized gains and losses included as a component of accumulated other comprehensive income or loss, which is a separate component of stockholders’ equity. The fair value of these securities is based on quoted prices and observable inputs on a recurring basis. Realized gains and losses are determined on the specific identification method. During the three months and nine months ended September 30, 2013 and 2012, the Company did not have any realized gains or losses on marketable securities. | ||||||
| Fair Value of Financial Instruments | ||||||
| The carrying amounts of the Company’s financial instruments, which include cash equivalents, marketable securities and capital lease and term loan obligations, approximate their fair values. The fair value of the Company’s financial instruments reflects the amounts that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy has the following three levels: | ||||||
| Level 1—quoted prices in active markets for identical assets and liabilities. | ||||||
| Level 2—observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. | ||||||
| Level 3—unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. | ||||||
| Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company measures the fair value of its marketable securities by taking into consideration valuations obtained from third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker-dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities and other observable inputs. As of September 30, 2013, the Company’s financial assets valued based on Level 1 inputs consisted of cash and cash equivalents in a money market fund and its financial assets valued based on Level 2 inputs consisted of high-grade corporate bonds and commercial paper. During the three months and nine months ended September 30, 2013, the Company did not have any transfers of financials assets between Levels 1 and 2. As of September 30, 2013, the Company did not have any financial liabilities that were recorded at fair value on the balance sheet. The disclosed fair value of the Company’s term loan obligations is determined using current applicable rates for similar instruments as of the balance sheet date. The carrying value of the Company’s term loan obligations approximates fair value as the Company’s interest rate yield is near current market rate yields. The disclosed fair value of the Company’s term loan obligations is based on Level 3 inputs. | ||||||
| Revenue Recognition | ||||||
| Collaboration and License Agreements | ||||||
| The Company’s principal source of revenue to date has been generated principally through its former collaboration and license agreements, which included upfront license payments, development milestones, reimbursement of research and development costs, potential profit sharing payments, commercial and sales-based milestones and royalties. In the three months and nine months ended September 30, 2013 and 2012, the Company did not recognize any collaboration revenues. The accounting for collaboration and license agreements requires subjective analysis and requires management to make estimates and assumptions about whether deliverables within multiple-element arrangements are separable from the other aspects of the contractual arrangement into separate units of accounting and to determine the arrangement consideration to be allocated to each unit of accounting. | ||||||
| For multiple-element arrangements entered into or materially modified after January 1, 2011, the Company follows the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2009-13 - Multiple-deliverable Revenue Arrangements (ASU No. 2009-13). This standard addresses the determination of the unit(s) of accounting for multiple-element arrangements and how an arrangement’s consideration should be allocated to each unit of accounting. | ||||||
| Pursuant to this standard, each required deliverable is evaluated to determine if it qualifies as a separate unit of accounting. For the Company this determination includes an assessment as to whether the deliverable has “stand-alone value” to the customer separate from the undelivered elements. The arrangement’s consideration is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) third-party evidence of selling price, or (iii) the Company’s best estimate of the selling price (BESP). The BESP reflects the Company’s best estimate of what the selling price would be if the deliverable was regularly sold by it on a stand-alone basis. The Company expects, in general, to use BESP for allocating consideration to each deliverable in future collaboration agreements. In general, the consideration allocated to each unit of accounting is then recognized as the related goods or services are delivered limited to the consideration not contingent upon future deliverables. | ||||||
| The Company accounts for development milestones under collaboration and license agreements pursuant to ASU No. 2010-17 Milestone Method of Revenue Recognition (ASU No. 2010-17). ASU No. 2010-17 codified a method of revenue recognition that has been common practice. Under this method, contingent consideration from research and development activities that is earned upon the achievement of a substantive milestone is recognized in its entirety in the period in which the milestone is achieved. At the inception of each arrangement that includes milestone payments, the Company evaluates whether each milestone is substantive. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. The Company evaluates factors such as the scientific, clinical, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment. The Company does not have any ongoing collaboration and license agreements under which milestones may be achieved. | ||||||
| Royalty revenues are based upon a percentage of net sales. Royalties from the sales of products will be recorded on the accrual basis when results are reliably measurable, collectibility is reasonably assured and all other revenue recognition criteria are met. Commercial and sales-based milestones, which are based upon the achievement of certain agreed-upon sales thresholds, will be recognized in the period in which the respective sales threshold is achieved and collectibility is reasonably assured. The Company does not have any ongoing collaboration and license agreements under which royalties or commercial and sales-based milestones may be achieved. | ||||||
| Grant Revenue | ||||||
| In March 2011, the Company received a grant from the Department of Defense, in the approximate amount of $1 million, for the development of STA-9584 in advanced prostate cancer. The Company conducted work on this study during the grant period from April 2011 through March 2012. Reimbursements were based on actual costs agreed upon in the proposal (salary, fringe benefits, overhead, and direct costs such as materials and subcontractors). The Company recognized $0 of grant revenue under this grant in the three months ended September 30, 2013 and 2012, respectively, and $0 and $147,000 of grant revenue under this grant in the nine months ended September 30, 2013 and 2012, respectively. | ||||||
| Stock-Based Compensation | ||||||
| The Company recognizes stock-based compensation expense based on the grant date fair value of stock options granted to employees, officers and directors. The Company uses the Black-Scholes option pricing model to determine the grant date fair value as it is the most appropriate valuation method for its option grants. The Black-Scholes model requires inputs for risk-free interest rate, dividend yield, volatility and expected lives of the options. Expected volatility is based upon the weighted average historical volatility data of the Company’s common stock. The Company estimates the forfeiture rate based on historical data. This analysis is re-evaluated at least annually and the forfeiture rate is adjusted as necessary. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected lives for options granted represent the period of time that options granted are expected to be outstanding. The Company uses the simplified method for determining the expected lives of options. | ||||||
| For awards with graded vesting, the Company allocates compensation costs on a straight-line basis over the requisite service period. The Company amortizes the fair value of each option over each option’s service period, which is generally the vesting period. | ||||||
| Certain of the employee stock options granted by the Company are structured to qualify as incentive stock options (ISOs). Under current tax regulations, the Company does not receive a tax deduction for the issuance, exercise or disposition of ISOs if the employee meets certain holding requirements. If the employee does not meet the holding requirements, a disqualifying disposition occurs, at which time the Company may receive a tax deduction. The Company does not record tax benefits related to ISOs unless and until a disqualifying disposition is reported. In the event of a disqualifying disposition, the entire tax benefit is recorded as a reduction of income tax expense. The Company has not recognized any income tax benefit for its share-based compensation arrangements due to the fact that the Company does not believe it is more likely than not it will realize the related deferred tax assets. | ||||||
| Comprehensive Loss | ||||||
| Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Changes in unrealized gains and losses on marketable securities represent the only difference between the Company’s net loss and 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 No. 2013-02). ASU No. 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 No. 2013-02 requires disclosure regarding changes in accumulated other comprehensive income balances. ASU No. 2013-02 became effective for the Company on January 1, 2013. The adoption of ASU No. 2013-02 did not have an effect on the Company’s results of operations or financial position. | ||||||
| Segment Reporting | ||||||
| Operating segments are determined based on the way management organizes its business for making operating decisions and assessing performance. The Company has a single operating segment, the discovery, development and commercialization of drug products. | ||||||
| Basic and Diluted Loss Per Common Share | ||||||
| Basic net loss per share is computed using the weighted average number of common shares outstanding during the period, excluding restricted stock that has been issued but is not yet vested. Diluted net loss per common share is computed using the weighted average number of common shares outstanding and the weighted average dilutive potential common shares outstanding using the treasury stock method. However, for the three months and nine months ended September 30, 2013 and 2012, diluted net loss per share is the same as basic net loss per share as the inclusion of weighted average shares of unvested restricted common stock and common stock issuable upon the exercise of stock options would be anti-dilutive. | ||||||
| The following table summarizes outstanding securities not included in the computation of diluted net loss per common share as their inclusion would be anti-dilutive: | ||||||
| September 30, | ||||||
| 2013 | 2012 | |||||
| Common stock options | 6,736,209 | 6,007,123 | ||||
| Unvested restricted common stock | 42,500 | 58,936 | ||||
Cash_Cash_Equivalents_and_Mark
| Cash, Cash Equivalents and Marketable Securities | 9 Months Ended | |||||||||||||
| Sep. 30, 2013 | ||||||||||||||
| Cash, Cash Equivalents and Marketable Securities | ' | |||||||||||||
| Cash, Cash Equivalents and Marketable Securities | ' | |||||||||||||
| (3) Cash, Cash Equivalents and Marketable Securities | ||||||||||||||
| A summary of cash, cash equivalents and available-for-sale marketable securities held by the Company as of September 30, 2013 and December 31, 2012 was as follows (see Note 2): | ||||||||||||||
| September 30, 2013 | ||||||||||||||
| Cost | Unrealized | Unrealized | Fair | |||||||||||
| gains | losses | value | ||||||||||||
| (in thousands) | ||||||||||||||
| Cash and cash equivalents: | ||||||||||||||
| Cash and money market funds (Level 1) | $ | 23,977 | $ | — | $ | — | $ | 23,977 | ||||||
| Corporate debt securities due within 3 months of date of purchase (Level 2) | 1,500 | — | — | 1,500 | ||||||||||
| Total cash and cash equivalents | $ | 25,477 | $ | — | $ | — | $ | 25,477 | ||||||
| Marketable securities (due within 1 year of date of purchase): | ||||||||||||||
| Corporate debt securities (Level 2) | 27,901 | 6 | — | 27,907 | ||||||||||
| Total marketable securities | 27,901 | 6 | — | 27,907 | ||||||||||
| Total cash, cash equivalents and marketable securities | $ | 53,378 | $ | 6 | $ | — | $ | 53,384 | ||||||
| December 31, 2012 | ||||||||||||||
| Cost | Unrealized | Unrealized | Fair | |||||||||||
| gains | losses | value | ||||||||||||
| (in thousands) | ||||||||||||||
| Cash and cash equivalents: | ||||||||||||||
| Cash and money market funds (Level 1) | $ | 81,512 | $ | — | $ | — | $ | 81,512 | ||||||
| Marketable securities: | ||||||||||||||
| Corporate debt securities due within 1 year of date of purchase (Level 2) | 19,085 | 3 | (1 | ) | 19,087 | |||||||||
| Total cash, cash equivalents and marketable securities | $ | 100,597 | $ | 3 | $ | (1 | ) | $ | 100,599 | |||||
Property_and_Equipment
| Property and Equipment | 9 Months Ended | |||||||
| Sep. 30, 2013 | ||||||||
| Property and Equipment | ' | |||||||
| Property and Equipment | ' | |||||||
| (4) Property and Equipment | ||||||||
| Property and equipment consist of the following: | ||||||||
| September 30, | December 31, | |||||||
| 2013 | 2012 | |||||||
| (in thousands) | ||||||||
| Laboratory equipment | $ | 12,626 | $ | 12,531 | ||||
| Leasehold improvements | 4,958 | 4,939 | ||||||
| Computers and software | 3,114 | 2,630 | ||||||
| Furniture and fixtures | 1,170 | 1,170 | ||||||
| 21,868 | 21,270 | |||||||
| Less accumulated depreciation and amortization | (20,380 | ) | (20,096 | ) | ||||
| $ | 1,488 | $ | 1,174 | |||||
| Depreciation and amortization of property and equipment, including equipment purchased under capital leases, was approximately $0.1 million and $0.2 million for the three months ended September 30, 2013 and 2012, respectively, and $0.4 million and $0.6 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||
Stockholders_Equity
| Stockholders' Equity | 9 Months Ended |
| Sep. 30, 2013 | |
| Stockholders' Equity | ' |
| Stockholders' Equity | ' |
| (5) Stockholders’ Equity | |
| At-The-Market Issuance Sales Agreement | |
| On May 2, 2012, the Company entered into an at-the-market issuance sales agreement, as amended, (Sales Agreement) with MLV & Co. LLC (MLV), pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $28 million from time to time, at the Company’s option, through MLV as its sales agent. Sales of common stock through MLV, if any, will be made by any method that is deemed an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including by means of ordinary brokers’ transactions at market prices, in block transactions or as otherwise agreed by the Company and MLV. Subject to the terms and conditions of the Sales Agreement, MLV will use commercially reasonable efforts to sell the common stock based upon the Company’s instructions (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company is not obligated to make any sales of its common stock under the Sales Agreement. Any shares sold will be sold pursuant to the Company’s effective shelf registration statement on Form S-3. The Company will pay MLV a commission of up to 3% of the gross proceeds. The Sales Agreement will terminate upon the earlier of the sale of all common stock subject to the Sales Agreement or termination of the Sales Agreement by the Company or MLV. To date, the Company has not sold any of its common stock under the Sales Agreement. | |
StockBased_Compensation
| Stock-Based Compensation | 9 Months Ended | |||||||||||||
| Sep. 30, 2013 | ||||||||||||||
| Stock-Based Compensation | ' | |||||||||||||
| Stock-Based Compensation | ' | |||||||||||||
| (6) Stock-Based Compensation | ||||||||||||||
| The Company’s 2006 Stock Plan provides for the grant of incentive stock options, nonstatutory stock options and non-vested (“restricted”) stock to employees, officers, directors and consultants of the Company. In January 2013, the number of shares of common stock reserved for issuance under the 2006 Stock Plan was increased from 7,700,000 to 9,000,000 pursuant to an “evergreen” provision, which provides for an annual increase based on the lesser of 1,300,000 shares, 5% of the Company’s then outstanding shares of common stock, or such other amount as the board of directors may determine. This increase was approved by the board of directors in December 2012. The administration of the 2006 Stock Plan is under the general supervision of the compensation committee of the board of directors. The exercise price of the stock options is determined by the compensation committee of the board of directors, provided that incentive stock options are granted at not less than fair market value of the common stock on the date of grant and expire no later than ten years from the date the option is granted. Options generally vest over four years. As of September 30, 2013, the Company had options outstanding to purchase 6,736,209 shares of its common stock, which includes options outstanding under its 2001 Stock Plan that was terminated in March 2006, and had 42,500 restricted shares of common stock outstanding. As of September 30, 2013, 1,628,225 shares were available for future issuance. | ||||||||||||||
| The following table summarizes stock option activity during the nine months ended September 30, 2013: | ||||||||||||||
| Shares | Weighted average | |||||||||||||
| exercise price | ||||||||||||||
| Outstanding at January 1 | 5,521,584 | $ | 6.4 | |||||||||||
| Options granted | 1,801,079 | 9.53 | ||||||||||||
| Options exercised | (132,991 | ) | 8.14 | |||||||||||
| Options cancelled | (453,463 | ) | 9.88 | |||||||||||
| Outstanding at September 30 | 6,736,209 | $ | 6.97 | |||||||||||
| Exercisable at September 30 | 3,662,767 | $ | 6.61 | |||||||||||
| The total cash received by the Company as a result of stock option exercises during the nine months ended September 30, 2013 and 2012 was $1.1 million and $0.9 million, respectively. In January 2013, a director of the Company exercised a total of 114,250 stock options that resulted in approximately $990,000 in cash proceeds to the Company. The weighted-average grant date fair values of options granted during the three months ended September 30, 2013 and 2012 were $4.21 and $6.00, respectively, and during the nine months ended September 30, 2013 and 2012 were $7.65 and $4.04, respectively. | ||||||||||||||
| Non-Vested (“Restricted”) Stock Awards With Service Conditions | ||||||||||||||
| The Company’s share-based compensation plan provides for awards of restricted shares of common stock to employees, officers, directors and consultants to the Company. Restricted stock awards are subject to forfeiture if employment or service terminates during the prescribed retention period. Restricted shares vest over the service period. The total fair value of restricted stock that vested during the nine months ended September 30, 2013 and 2012 was $0.2 million and $0.4 million, respectively. | ||||||||||||||
| The following table summarizes unvested restricted share activity during the nine months ended September 30, 2013: | ||||||||||||||
| Shares | Weighted | |||||||||||||
| average | ||||||||||||||
| grant date | ||||||||||||||
| fair value | ||||||||||||||
| Outstanding at January 1 | 35,122 | $ | 5.04 | |||||||||||
| Vested | (32,622 | ) | 5.33 | |||||||||||
| Granted | 115,000 | 7.99 | ||||||||||||
| Forfeited | (75,000 | ) | 9.59 | |||||||||||
| Outstanding at September 30 | 42,500 | $ | 4.78 | |||||||||||
| Stock-Based Compensation Expense | ||||||||||||||
| For the three months and nine months ended September 30, 2013 and 2012, the fair value of each employee stock option award was estimated on the date of grant based on the fair value method using the Black-Scholes option pricing valuation model with the following weighted average assumptions: | ||||||||||||||
| Three Months | Nine Months | |||||||||||||
| Ended September 30, | Ended September 30, | |||||||||||||
| 2013 | 2012 | 2013 | 2012 | |||||||||||
| Risk-free interest rate | 1.74 | % | 0.92 | % | 1.12 | % | 1.11 | % | ||||||
| Expected life in years | 6.25 | 6.23 | 6.25 | 6.24 | ||||||||||
| Volatility | 103 | % | 102 | % | 102 | % | 101 | % | ||||||
| Expected dividend yield | — | — | — | — | ||||||||||
| Stock-based compensation expense during the three months and nine months ended September 30, 2013 and 2012 was as follows (in thousands): | ||||||||||||||
| Three Months | Nine Months | |||||||||||||
| Ended September 30, | Ended September 30, | |||||||||||||
| 2013 | 2012 | 2013 | 2012 | |||||||||||
| Stock-based compensation expense by type of award: | ||||||||||||||
| Employee stock options | $ | 1,620 | $ | 765 | $ | 4,276 | $ | 2,222 | ||||||
| Restricted stock | 63 | 36 | 214 | 137 | ||||||||||
| Total stock-based compensation expense | $ | 1,683 | $ | 801 | $ | 4,490 | $ | 2,359 | ||||||
| Effect of stock-based compensation expense by line item: | ||||||||||||||
| Research and development | $ | 902 | $ | 612 | $ | 2,363 | $ | 1,797 | ||||||
| General and administrative | 781 | 189 | 2,127 | 562 | ||||||||||
| Total stock-based compensation expense included in net loss | $ | 1,683 | $ | 801 | $ | 4,490 | $ | 2,359 | ||||||
| Unrecognized stock-based compensation expense as of September 30, 2013 was as follows (dollars in thousands): | ||||||||||||||
| Unrecognized | Weighted | |||||||||||||
| stock | average | |||||||||||||
| compensation | remaining | |||||||||||||
| expense as of | period | |||||||||||||
| September 30, | (in years) | |||||||||||||
| 2013 | ||||||||||||||
| Employee stock options | $ | 14,125 | 2.85 | |||||||||||
| Restricted stock | 159 | 0.72 | ||||||||||||
| Total | $ | 14,284 | 2.83 | |||||||||||
Other_Accrued_Liabilities
| Other Accrued Liabilities | 9 Months Ended | |||||||
| Sep. 30, 2013 | ||||||||
| Other Accrued Liabilities | ' | |||||||
| Other Accrued Liabilities | ' | |||||||
| (7) Other Accrued Liabilities | ||||||||
| Other accrued liabilities consist of the following: | ||||||||
| September 30, | December 31, | |||||||
| 2013 | 2012 | |||||||
| (in thousands) | ||||||||
| Compensation and benefits | $ | 2,262 | $ | 3,272 | ||||
| Professional fees | 1,442 | 999 | ||||||
| Other | 793 | 856 | ||||||
| $ | 4,497 | $ | 5,127 | |||||
CoDevelopment_Agreement
| Co-Development Agreement | 9 Months Ended |
| Sep. 30, 2013 | |
| Co-Development Agreement | ' |
| Co-Development Agreement | ' |
| (8) Co-Development Agreement | |
| In July 2011, the Company entered into a co-development agreement with a clinical research organization (CRO) for the conduct of certain company-sponsored clinical trials. Under the co-development agreement, this CRO is performing clinical research services under a reduced fee structure in exchange for a share of licensing payments and commercial revenues, if any, resulting from the product under development up to a specified maximum payment, which is defined as a multiple of the fee reduction realized. Research and development expenses are being recognized based on the reduced fee structure and expected payments will be recorded in the future if and when payment is probable. | |
Term_Loans
| Term Loans | 9 Months Ended | ||||
| Sep. 30, 2013 | |||||
| Term Loans | ' | ||||
| Term Loans | ' | ||||
| (9) Term Loans | |||||
| General Electric Capital Corporation | |||||
| In March 2013, the Company amended its loan and security agreement entered into in September 2010 with General Electric Capital Corporation (GECC) and another lender (the GECC Term Loan) obtaining $12.9 million in additional loan funding and, as a result, increasing the principal balance to $22.5 million at March 31, 2013. This amendment was accounted for as a loan modification. Interest on the borrowings under the GECC Term Loan remains at the annual rate of 9.75%. The Company will make interest-only payments for the period from April 2013 through December 2013. Beginning in January 2014, the Company will begin making 30 equal monthly payments of principal plus accrued interest on the outstanding balance. During the period from July 2012 through March 2013, the Company made equal monthly payments of principal plus accrued interest on the outstanding balance. Prior to July 2012, the Company made interest-only payments. | |||||
| The Company has paid various transaction fees and expenses in connection with the GECC Term Loan, which are deferred and are being amortized as interest expense over the remaining term of the GECC Term Loan. In addition, the Company is obligated to pay an exit fee of $788,000 at the time of the final principal payment which is being accreted and expensed as interest over the remaining term of the GECC Term Loan. In the three months ended September 30, 2013 and 2012, the Company recognized GECC Term Loan interest expense of $682,000 and $423,000, respectively, of which $122,000 and $82,000, respectively, was in connection with these transaction and exit fees and expenses. In the nine months ended September 30, 2013 and 2012, the Company recognized GECC Term Loan interest expense of $1,819,000 and $1,315,000, respectively, of which $444,000 and $239,000, respectively, was in connection with these transaction and exit fees and expenses. The Company may prepay the full amount of the GECC Term Loan, subject to prepayment premiums under certain circumstances. The Company did not issue any warrants in connection with the GECC Term Loan. | |||||
| The GECC Term Loan is secured by substantially all of the Company’s assets, except its intellectual property. The Company has granted GECC a springing security interest in its intellectual property in the event the Company is not in compliance with certain cash usage covenants, as defined therein. The GECC Term Loan contains restrictive covenants, including the requirement for the Company to receive the prior written consent of GECC to enter into loans, other than up to $4.0 million of equipment financing, restrictions on the declaration or payment of dividends, restrictions on acquisitions, and customary default provisions that include material adverse events, as defined therein. The Company has determined that the risk of subjective acceleration under the material adverse events clause is remote and therefore has classified the outstanding principal in current and long-term liabilities based on the timing of scheduled principal payments. | |||||
| Oxford Finance Corporation | |||||
| In March 2011, the Company entered into a loan and security agreement with Oxford Finance Corporation (Oxford) and received $2.0 million in loan funding (the Oxford Term Loan). Interest on the borrowings under the Oxford Term Loan accrues at an annual rate of 13.35%. Beginning in May 2011, the Company began making 36 equal monthly payments of principal plus accrued interest on the outstanding balance. In December 2012, the Company entered into a loan modification agreement, as amended, under which the Company may draw down up to an additional $0.6 million in equipment financing until June 30, 2013 that would be payable in 36 equal monthly payments of principal plus accrued interest on the outstanding balance. As of June 30, 2013, the Company had fully utilized the $0.6 million in additional equipment financing. The Company recognized approximately $36,000 and $40,000 of interest expense in the three months ended September 30, 2013 and 2012, respectively, and $99,000 and $137,000 in the nine months ended September 30, 2013 and 2012, respectively, related to the outstanding principal under the Oxford Term Loan. In addition to the interest payable under the Oxford Term Loan, the Company paid approximately $108,000 of administrative and legal fees and expenses in connection with the Oxford Term Loan. These expenses have been deferred and are being expensed over the term of the Oxford Term Loan. The Company did not issue any warrants in connection with the Oxford Term Loan. The Company may prepay the full amount of the Oxford Term Loan, subject to prepayment premiums under certain circumstances. Oxford has the right to require the Company to prepay the full amount of the Oxford Term Loan if the Company prepays the full amount of the GECC Term Loan under certain circumstances. | |||||
| The Oxford Term Loan is secured by certain laboratory and office equipment, furniture and fixtures. In connection with the Oxford Term Loan, Oxford and GECC entered into a Lien Subordination Agreement, whereby GECC granted Oxford a first priority perfected security interest in the loan collateral. The Oxford Term Loan contains restrictive covenants, including the requirement for the Company to receive the prior written consent of Oxford to enter into acquisitions in which the Company incurs more than $2.0 million of related indebtedness, and customary default provisions that include material adverse events, as defined therein. The Company has determined that the risk of subjective acceleration under the material adverse events clause is remote and therefore has classified the outstanding principal in current and long-term liabilities based on the timing of scheduled principal payments. | |||||
| Future principal payments under the GECC and Oxford Term Loans as of September 30, 2013 are approximately as follows (in thousands): | |||||
| Year Ending December 31, | |||||
| 2013 | $ | 233 | |||
| 2014 | 9,451 | ||||
| 2015 | 9,214 | ||||
| 2016 | 4,607 | ||||
| $ | 23,505 | ||||
Summary_of_Significant_Account1
| Summary of Significant Accounting Policies (Policies) | 9 Months Ended | |||||
| Sep. 30, 2013 | ||||||
| Summary of Significant Accounting Policies | ' | |||||
| Principles of Consolidation | ' | |||||
| Principles of Consolidation | ||||||
| The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. | ||||||
| Use of Estimates | ' | |||||
| Use of Estimates | ||||||
| The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include contract research accruals, recoverability of long-lived assets, measurement of stock-based compensation, and the periods of performance under collaborative research and development agreements. The Company bases its estimates on historical experience and various other assumptions that management believes to be reasonable under the circumstances. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates. | ||||||
| Cash and Cash Equivalents | ' | |||||
| Cash and Cash Equivalents | ||||||
| The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment in a money market fund to be cash equivalents. Changes in cash and cash equivalents may be affected by shifts in investment portfolio maturities, as well as actual cash disbursements to fund operations. | ||||||
| The primary objective of the Company’s investment activities is to preserve its capital for the purpose of funding operations and the Company does not enter into investments for trading or speculative purposes. The Company invests in money market funds and high-grade, short-term commercial paper, which are subject to minimal credit and market risk. The Company’s cash is deposited in a highly rated financial institution in the United States. Declines in interest rates, however, would reduce future investment income. | ||||||
| Marketable Securities | ' | |||||
| Marketable Securities | ||||||
| Marketable securities consist of investments in high-grade corporate obligations, and government and government agency obligations that are classified as available-for-sale. Since these securities are available to fund current operations they are classified as current assets on the consolidated balance sheets. | ||||||
| The Company adjusts the cost of available-for-sale debt securities for amortization of premiums and accretion of discounts to maturity. The Company includes such amortization and accretion as a component of interest expense, net. Realized gains and losses and declines in value, if any, that the Company judges to be other-than-temporary on available-for-sale securities are reported as a component of interest expense, net. To determine whether an other-than-temporary impairment exists, the Company considers whether it intends to sell the debt security and, if the Company does not intend to sell the debt security, it considers available evidence to assess whether it is more likely than not that it will be required to sell the security before the recovery of its amortized cost basis. During the three months and nine months ended September 30, 2013 and 2012, the Company determined it did not have any securities that were other-than-temporarily impaired. | ||||||
| Marketable securities are stated at fair value, including accrued interest, with their unrealized gains and losses included as a component of accumulated other comprehensive income or loss, which is a separate component of stockholders’ equity. The fair value of these securities is based on quoted prices and observable inputs on a recurring basis. Realized gains and losses are determined on the specific identification method. During the three months and nine months ended September 30, 2013 and 2012, the Company did not have any realized gains or losses on marketable securities. | ||||||
| Fair Value of Financial Instruments | ' | |||||
| Fair Value of Financial Instruments | ||||||
| The carrying amounts of the Company’s financial instruments, which include cash equivalents, marketable securities and capital lease and term loan obligations, approximate their fair values. The fair value of the Company’s financial instruments reflects the amounts that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy has the following three levels: | ||||||
| Level 1—quoted prices in active markets for identical assets and liabilities. | ||||||
| Level 2—observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. | ||||||
| Level 3—unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. | ||||||
| Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company measures the fair value of its marketable securities by taking into consideration valuations obtained from third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker-dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities and other observable inputs. As of September 30, 2013, the Company’s financial assets valued based on Level 1 inputs consisted of cash and cash equivalents in a money market fund and its financial assets valued based on Level 2 inputs consisted of high-grade corporate bonds and commercial paper. During the three months and nine months ended September 30, 2013, the Company did not have any transfers of financials assets between Levels 1 and 2. As of September 30, 2013, the Company did not have any financial liabilities that were recorded at fair value on the balance sheet. The disclosed fair value of the Company’s term loan obligations is determined using current applicable rates for similar instruments as of the balance sheet date. The carrying value of the Company’s term loan obligations approximates fair value as the Company’s interest rate yield is near current market rate yields. The disclosed fair value of the Company’s term loan obligations is based on Level 3 inputs. | ||||||
| Revenue Recognition | ' | |||||
| Revenue Recognition | ||||||
| Collaboration and License Agreements | ||||||
| The Company’s principal source of revenue to date has been generated principally through its former collaboration and license agreements, which included upfront license payments, development milestones, reimbursement of research and development costs, potential profit sharing payments, commercial and sales-based milestones and royalties. In the three months and nine months ended September 30, 2013 and 2012, the Company did not recognize any collaboration revenues. The accounting for collaboration and license agreements requires subjective analysis and requires management to make estimates and assumptions about whether deliverables within multiple-element arrangements are separable from the other aspects of the contractual arrangement into separate units of accounting and to determine the arrangement consideration to be allocated to each unit of accounting. | ||||||
| For multiple-element arrangements entered into or materially modified after January 1, 2011, the Company follows the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2009-13 - Multiple-deliverable Revenue Arrangements (ASU No. 2009-13). This standard addresses the determination of the unit(s) of accounting for multiple-element arrangements and how an arrangement’s consideration should be allocated to each unit of accounting. | ||||||
| Pursuant to this standard, each required deliverable is evaluated to determine if it qualifies as a separate unit of accounting. For the Company this determination includes an assessment as to whether the deliverable has “stand-alone value” to the customer separate from the undelivered elements. The arrangement’s consideration is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) third-party evidence of selling price, or (iii) the Company’s best estimate of the selling price (BESP). The BESP reflects the Company’s best estimate of what the selling price would be if the deliverable was regularly sold by it on a stand-alone basis. The Company expects, in general, to use BESP for allocating consideration to each deliverable in future collaboration agreements. In general, the consideration allocated to each unit of accounting is then recognized as the related goods or services are delivered limited to the consideration not contingent upon future deliverables. | ||||||
| The Company accounts for development milestones under collaboration and license agreements pursuant to ASU No. 2010-17 Milestone Method of Revenue Recognition (ASU No. 2010-17). ASU No. 2010-17 codified a method of revenue recognition that has been common practice. Under this method, contingent consideration from research and development activities that is earned upon the achievement of a substantive milestone is recognized in its entirety in the period in which the milestone is achieved. At the inception of each arrangement that includes milestone payments, the Company evaluates whether each milestone is substantive. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. The Company evaluates factors such as the scientific, clinical, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment. The Company does not have any ongoing collaboration and license agreements under which milestones may be achieved. | ||||||
| Royalty revenues are based upon a percentage of net sales. Royalties from the sales of products will be recorded on the accrual basis when results are reliably measurable, collectibility is reasonably assured and all other revenue recognition criteria are met. Commercial and sales-based milestones, which are based upon the achievement of certain agreed-upon sales thresholds, will be recognized in the period in which the respective sales threshold is achieved and collectibility is reasonably assured. The Company does not have any ongoing collaboration and license agreements under which royalties or commercial and sales-based milestones may be achieved. | ||||||
| Grant Revenue | ||||||
| In March 2011, the Company received a grant from the Department of Defense, in the approximate amount of $1 million, for the development of STA-9584 in advanced prostate cancer. The Company conducted work on this study during the grant period from April 2011 through March 2012. Reimbursements were based on actual costs agreed upon in the proposal (salary, fringe benefits, overhead, and direct costs such as materials and subcontractors). The Company recognized $0 of grant revenue under this grant in the three months ended September 30, 2013 and 2012, respectively, and $0 and $147,000 of grant revenue under this grant in the nine months ended September 30, 2013 and 2012, respectively. | ||||||
| Stock-Based Compensation | ' | |||||
| Stock-Based Compensation | ||||||
| The Company recognizes stock-based compensation expense based on the grant date fair value of stock options granted to employees, officers and directors. The Company uses the Black-Scholes option pricing model to determine the grant date fair value as it is the most appropriate valuation method for its option grants. The Black-Scholes model requires inputs for risk-free interest rate, dividend yield, volatility and expected lives of the options. Expected volatility is based upon the weighted average historical volatility data of the Company’s common stock. The Company estimates the forfeiture rate based on historical data. This analysis is re-evaluated at least annually and the forfeiture rate is adjusted as necessary. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected lives for options granted represent the period of time that options granted are expected to be outstanding. The Company uses the simplified method for determining the expected lives of options. | ||||||
| For awards with graded vesting, the Company allocates compensation costs on a straight-line basis over the requisite service period. The Company amortizes the fair value of each option over each option’s service period, which is generally the vesting period. | ||||||
| Certain of the employee stock options granted by the Company are structured to qualify as incentive stock options (ISOs). Under current tax regulations, the Company does not receive a tax deduction for the issuance, exercise or disposition of ISOs if the employee meets certain holding requirements. If the employee does not meet the holding requirements, a disqualifying disposition occurs, at which time the Company may receive a tax deduction. The Company does not record tax benefits related to ISOs unless and until a disqualifying disposition is reported. In the event of a disqualifying disposition, the entire tax benefit is recorded as a reduction of income tax expense. The Company has not recognized any income tax benefit for its share-based compensation arrangements due to the fact that the Company does not believe it is more likely than not it will realize the related deferred tax assets. | ||||||
| Comprehensive Loss | ' | |||||
| Comprehensive Loss | ||||||
| Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Changes in unrealized gains and losses on marketable securities represent the only difference between the Company’s net loss and 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 No. 2013-02). ASU No. 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 No. 2013-02 requires disclosure regarding changes in accumulated other comprehensive income balances. ASU No. 2013-02 became effective for the Company on January 1, 2013. The adoption of ASU No. 2013-02 did not have an effect on the Company’s results of operations or financial position. | ||||||
| Segment Reporting | ' | |||||
| Segment Reporting | ||||||
| Operating segments are determined based on the way management organizes its business for making operating decisions and assessing performance. The Company has a single operating segment, the discovery, development and commercialization of drug products. | ||||||
| Basic and Diluted Loss Per Common Share | ' | |||||
| Basic and Diluted Loss Per Common Share | ||||||
| Basic net loss per share is computed using the weighted average number of common shares outstanding during the period, excluding restricted stock that has been issued but is not yet vested. Diluted net loss per common share is computed using the weighted average number of common shares outstanding and the weighted average dilutive potential common shares outstanding using the treasury stock method. However, for the three months and nine months ended September 30, 2013 and 2012, diluted net loss per share is the same as basic net loss per share as the inclusion of weighted average shares of unvested restricted common stock and common stock issuable upon the exercise of stock options would be anti-dilutive. | ||||||
| The following table summarizes outstanding securities not included in the computation of diluted net loss per common share as their inclusion would be anti-dilutive: | ||||||
| September 30, | ||||||
| 2013 | 2012 | |||||
| Common stock options | 6,736,209 | 6,007,123 | ||||
| Unvested restricted common stock | 42,500 | 58,936 | ||||
Summary_of_Significant_Account2
| Summary of Significant Accounting Policies (Tables) | 9 Months Ended | |||||
| Sep. 30, 2013 | ||||||
| Summary of Significant Accounting Policies | ' | |||||
| Summary of the outstanding securities not included in the computation of diluted net loss per common share as their inclusion would be anti-dilutive | ' | |||||
| September 30, | ||||||
| 2013 | 2012 | |||||
| Common stock options | 6,736,209 | 6,007,123 | ||||
| Unvested restricted common stock | 42,500 | 58,936 | ||||
Cash_Cash_Equivalents_and_Mark1
| Cash, Cash Equivalents and Marketable Securities (Tables) | 9 Months Ended | |||||||||||||
| Sep. 30, 2013 | ||||||||||||||
| Cash, Cash Equivalents and Marketable Securities | ' | |||||||||||||
| Summary of cash, cash equivalents and available-for-sale marketable securities | ' | |||||||||||||
| September 30, 2013 | ||||||||||||||
| Cost | Unrealized | Unrealized | Fair | |||||||||||
| gains | losses | value | ||||||||||||
| (in thousands) | ||||||||||||||
| Cash and cash equivalents: | ||||||||||||||
| Cash and money market funds (Level 1) | $ | 23,977 | $ | — | $ | — | $ | 23,977 | ||||||
| Corporate debt securities due within 3 months of date of purchase (Level 2) | 1,500 | — | — | 1,500 | ||||||||||
| Total cash and cash equivalents | $ | 25,477 | $ | — | $ | — | $ | 25,477 | ||||||
| Marketable securities (due within 1 year of date of purchase): | ||||||||||||||
| Corporate debt securities (Level 2) | 27,901 | 6 | — | 27,907 | ||||||||||
| Total marketable securities | 27,901 | 6 | — | 27,907 | ||||||||||
| Total cash, cash equivalents and marketable securities | $ | 53,378 | $ | 6 | $ | — | $ | 53,384 | ||||||
| December 31, 2012 | ||||||||||||||
| Cost | Unrealized | Unrealized | Fair | |||||||||||
| gains | losses | value | ||||||||||||
| (in thousands) | ||||||||||||||
| Cash and cash equivalents: | ||||||||||||||
| Cash and money market funds (Level 1) | $ | 81,512 | $ | — | $ | — | $ | 81,512 | ||||||
| Marketable securities: | ||||||||||||||
| Corporate debt securities due within 1 year of date of purchase (Level 2) | 19,085 | 3 | (1 | ) | 19,087 | |||||||||
| Total cash, cash equivalents and marketable securities | $ | 100,597 | $ | 3 | $ | (1 | ) | $ | 100,599 | |||||
Property_and_Equipment_Tables
| Property and Equipment (Tables) | 9 Months Ended | |||||||
| Sep. 30, 2013 | ||||||||
| Property and Equipment | ' | |||||||
| Schedule of property and equipment | ' | |||||||
| September 30, | December 31, | |||||||
| 2013 | 2012 | |||||||
| (in thousands) | ||||||||
| Laboratory equipment | $ | 12,626 | $ | 12,531 | ||||
| Leasehold improvements | 4,958 | 4,939 | ||||||
| Computers and software | 3,114 | 2,630 | ||||||
| Furniture and fixtures | 1,170 | 1,170 | ||||||
| 21,868 | 21,270 | |||||||
| Less accumulated depreciation and amortization | (20,380 | ) | (20,096 | ) | ||||
| $ | 1,488 | $ | 1,174 | |||||
StockBased_Compensation_Tables
| Stock-Based Compensation (Tables) | 9 Months Ended | |||||||||||||
| Sep. 30, 2013 | ||||||||||||||
| Stock-Based Compensation | ' | |||||||||||||
| Summary of stock option activity | ' | |||||||||||||
| Shares | Weighted average | |||||||||||||
| exercise price | ||||||||||||||
| Outstanding at January 1 | 5,521,584 | $ | 6.4 | |||||||||||
| Options granted | 1,801,079 | 9.53 | ||||||||||||
| Options exercised | (132,991 | ) | 8.14 | |||||||||||
| Options cancelled | (453,463 | ) | 9.88 | |||||||||||
| Outstanding at September 30 | 6,736,209 | $ | 6.97 | |||||||||||
| Exercisable at September 30 | 3,662,767 | $ | 6.61 | |||||||||||
| Summary of unvested restricted share activity | ' | |||||||||||||
| Shares | Weighted | |||||||||||||
| average | ||||||||||||||
| grant date | ||||||||||||||
| fair value | ||||||||||||||
| Outstanding at January 1 | 35,122 | $ | 5.04 | |||||||||||
| Vested | (32,622 | ) | 5.33 | |||||||||||
| Granted | 115,000 | 7.99 | ||||||||||||
| Forfeited | (75,000 | ) | 9.59 | |||||||||||
| Outstanding at September 30 | 42,500 | $ | 4.78 | |||||||||||
| Schedule of weighted average assumptions used to estimate fair value of each employee stock option award | ' | |||||||||||||
| Three Months | Nine Months | |||||||||||||
| Ended September 30, | Ended September 30, | |||||||||||||
| 2013 | 2012 | 2013 | 2012 | |||||||||||
| Risk-free interest rate | 1.74 | % | 0.92 | % | 1.12 | % | 1.11 | % | ||||||
| Expected life in years | 6.25 | 6.23 | 6.25 | 6.24 | ||||||||||
| Volatility | 103 | % | 102 | % | 102 | % | 101 | % | ||||||
| Expected dividend yield | — | — | — | — | ||||||||||
| Schedule of stock-based compensation expense | ' | |||||||||||||
| Stock-based compensation expense during the three months and nine months ended September 30, 2013 and 2012 was as follows (in thousands): | ||||||||||||||
| Three Months | Nine Months | |||||||||||||
| Ended September 30, | Ended September 30, | |||||||||||||
| 2013 | 2012 | 2013 | 2012 | |||||||||||
| Stock-based compensation expense by type of award: | ||||||||||||||
| Employee stock options | $ | 1,620 | $ | 765 | $ | 4,276 | $ | 2,222 | ||||||
| Restricted stock | 63 | 36 | 214 | 137 | ||||||||||
| Total stock-based compensation expense | $ | 1,683 | $ | 801 | $ | 4,490 | $ | 2,359 | ||||||
| Effect of stock-based compensation expense by line item: | ||||||||||||||
| Research and development | $ | 902 | $ | 612 | $ | 2,363 | $ | 1,797 | ||||||
| General and administrative | 781 | 189 | 2,127 | 562 | ||||||||||
| Total stock-based compensation expense included in net loss | $ | 1,683 | $ | 801 | $ | 4,490 | $ | 2,359 | ||||||
| Schedule of unrecognized stock-based compensation expense | ' | |||||||||||||
| Unrecognized stock-based compensation expense as of September 30, 2013 was as follows (dollars in thousands): | ||||||||||||||
| Unrecognized | Weighted | |||||||||||||
| stock | average | |||||||||||||
| compensation | remaining | |||||||||||||
| expense as of | period | |||||||||||||
| September 30, | (in years) | |||||||||||||
| 2013 | ||||||||||||||
| Employee stock options | $ | 14,125 | 2.85 | |||||||||||
| Restricted stock | 159 | 0.72 | ||||||||||||
| Total | $ | 14,284 | 2.83 | |||||||||||
Other_Accrued_Liabilities_Tabl
| Other Accrued Liabilities (Tables) | 9 Months Ended | |||||||
| Sep. 30, 2013 | ||||||||
| Other Accrued Liabilities | ' | |||||||
| Schedule of other accrued liabilities | ' | |||||||
| September 30, | December 31, | |||||||
| 2013 | 2012 | |||||||
| (in thousands) | ||||||||
| Compensation and benefits | $ | 2,262 | $ | 3,272 | ||||
| Professional fees | 1,442 | 999 | ||||||
| Other | 793 | 856 | ||||||
| $ | 4,497 | $ | 5,127 | |||||
Term_Loans_Tables
| Term Loans (Tables) | 9 Months Ended | ||||
| Sep. 30, 2013 | |||||
| Term Loans | ' | ||||
| Schedule of future principal payments under the GECC and Oxford Term Loans | ' | ||||
| Future principal payments under the GECC and Oxford Term Loans as of September 30, 2013 are approximately as follows (in thousands): | |||||
| Year Ending December 31, | |||||
| 2013 | $ | 233 | |||
| 2014 | 9,451 | ||||
| 2015 | 9,214 | ||||
| 2016 | 4,607 | ||||
| $ | 23,505 | ||||
Summary_of_Significant_Account3
| Summary of Significant Accounting Policies (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
| Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
| Grant Revenue | ' | ' | ' | ' | ' |
| Amount of grant awarded | $1,000,000 | ' | ' | ' | ' |
| Grant revenues | ' | $0 | $0 | $0 | $147,000 |
Summary_of_Significant_Account4
| Summary of Significant Accounting Policies (Details 2) | 9 Months Ended | |
| Sep. 30, 2013 | Sep. 30, 2012 | |
| Common stock options | ' | ' |
| Anti-dilutive securities | ' | ' |
| Outstanding securities not included in the computation of diluted net income (loss) per common share as their inclusion would be anti-dilutive (in shares) | 6,736,209 | 6,007,123 |
| Unvested restricted common stock | ' | ' |
| Anti-dilutive securities | ' | ' |
| Outstanding securities not included in the computation of diluted net income (loss) per common share as their inclusion would be anti-dilutive (in shares) | 42,500 | 58,936 |
Cash_Cash_Equivalents_and_Mark2
| Cash, Cash Equivalents and Marketable Securities (Details) (USD $) | 9 Months Ended | 12 Months Ended |
| In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Marketable securities, Unrealized gains | 6 | ' |
| Cash, cash equivalents and marketable securities, unrealized gains | 6 | 3 |
| Cash, cash equivalents and marketable securities, unrealized losses | ' | -1 |
| Cost | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Cash and cash equivalents | 25,477 | ' |
| Marketable securities | 27,901 | ' |
| Total cash, cash equivalents and marketable securities | 53,378 | 100,597 |
| Fair value | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Cash and cash equivalents | 25,477 | ' |
| Marketable securities | 27,907 | ' |
| Total cash, cash equivalents and marketable securities | 53,384 | 100,599 |
| Corporate debt securities due within 1 year of date of purchase | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Marketable securities, Unrealized gains | 6 | 3 |
| Marketable securities, Unrealized losses | ' | -1 |
| Corporate debt securities due within 1 year of date of purchase | Cost | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Marketable securities | 27,901 | 19,085 |
| Corporate debt securities due within 1 year of date of purchase | Fair value | Level 2 | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Marketable securities | 27,907 | 19,087 |
| Cash and money market funds | Cost | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Cash and cash equivalents | 23,977 | 81,512 |
| Cash and money market funds | Fair value | Level 1 | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Cash and cash equivalents | 23,977 | 81,512 |
| Corporate debt securities due within 3 months of date of purchase | Cost | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Cash and cash equivalents | 1,500 | ' |
| Corporate debt securities due within 3 months of date of purchase | Fair value | Level 2 | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Cash and cash equivalents | 1,500 | ' |
| Maximum | Corporate debt securities due within 1 year of date of purchase | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Maturity period from date of purchase to classify an investment as marketable securities | '1 year | '1 year |
| Maximum | Corporate debt securities due within 3 months of date of purchase | ' | ' |
| Cash, Cash Equivalents and Marketable Securities | ' | ' |
| Maturity period from date of purchase to classify an investment as cash and cash equivalents | '3 months | ' |
Property_and_Equipment_Details
| Property and Equipment (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
| In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
| Property and Equipment | ' | ' | ' | ' | ' |
| Property and equipment, gross | $21,868 | ' | $21,868 | ' | $21,270 |
| Less accumulated depreciation and amortization | -20,380 | ' | -20,380 | ' | -20,096 |
| Property and equipment, net | 1,488 | ' | 1,488 | ' | 1,174 |
| Depreciation and amortization | 100 | 200 | 373 | 623 | ' |
| Laboratory equipment | ' | ' | ' | ' | ' |
| Property and Equipment | ' | ' | ' | ' | ' |
| Property and equipment, gross | 12,626 | ' | 12,626 | ' | 12,531 |
| Leasehold improvements | ' | ' | ' | ' | ' |
| Property and Equipment | ' | ' | ' | ' | ' |
| Property and equipment, gross | 4,958 | ' | 4,958 | ' | 4,939 |
| Computers and software | ' | ' | ' | ' | ' |
| Property and Equipment | ' | ' | ' | ' | ' |
| Property and equipment, gross | 3,114 | ' | 3,114 | ' | 2,630 |
| Furniture and fixtures | ' | ' | ' | ' | ' |
| Property and Equipment | ' | ' | ' | ' | ' |
| Property and equipment, gross | $1,170 | ' | $1,170 | ' | $1,170 |
Stockholders_Equity_Details
| Stockholders' Equity (Details) (MLV & Co. LLC, Maximum, At-The-Market Issuance Sales Agreement, USD $) | 0 Months Ended |
| In Millions, unless otherwise specified | 2-May-12 |
| MLV & Co. LLC | Maximum | At-The-Market Issuance Sales Agreement | ' |
| Equity Line of Credit | ' |
| Maximum aggregate offering price | $28 |
| Percentage of gross proceeds payable as commission | 3.00% |
StockBased_Compensation_Detail
| Stock-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||
| Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
| Stock option | Stock option | Stock option | Stock option | Stock option | Restricted stock awards | Restricted stock awards | 2006 Stock Plan | 2006 Stock Plan | 2006 Stock Plan | |
| Director | Stock option | |||||||||
| Maximum | ||||||||||
| Stock-Based Compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Number of shares reserved for issuance before annual increase | ' | ' | ' | ' | ' | ' | ' | 7,700,000 | ' | ' |
| Shares reserved for issuance | ' | ' | ' | ' | ' | ' | ' | 9,000,000 | ' | ' |
| Increase in number of shares reserved for issuance | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' |
| Percentage of outstanding shares of common stock used to compute annual increase in number of shares reserved for issuance | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' |
| Expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years |
| Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years |
| Shares available for future issuance | ' | ' | ' | ' | ' | ' | ' | ' | 1,628,225 | ' |
| Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Outstanding at the beginning of the period (in shares) | ' | ' | 5,521,584 | ' | ' | ' | ' | ' | ' | ' |
| Options granted (in shares) | ' | ' | 1,801,079 | ' | ' | ' | ' | ' | ' | ' |
| Options exercised (in shares) | ' | ' | -132,991 | ' | -114,250 | ' | ' | ' | ' | ' |
| Options cancelled (in shares) | ' | ' | -453,463 | ' | ' | ' | ' | ' | ' | ' |
| Outstanding at the end of the period (in shares) | 6,736,209 | ' | 6,736,209 | ' | ' | ' | ' | ' | ' | ' |
| Exercisable at the end of the period (in shares) | 3,662,767 | ' | 3,662,767 | ' | ' | ' | ' | ' | ' | ' |
| Weighted average exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Outstanding at the beginning of the period (in dollars per share) | ' | ' | $6.40 | ' | ' | ' | ' | ' | ' | ' |
| Options granted (in dollars per share) | ' | ' | $9.53 | ' | ' | ' | ' | ' | ' | ' |
| Options exercised (in dollars per share) | ' | ' | $8.14 | ' | ' | ' | ' | ' | ' | ' |
| Options cancelled (in dollars per share) | ' | ' | $9.88 | ' | ' | ' | ' | ' | ' | ' |
| Outstanding at the end of the period (in dollars per share) | $6.97 | ' | $6.97 | ' | ' | ' | ' | ' | ' | ' |
| Exercisable at the end of the period (in dollars per share) | $6.61 | ' | $6.61 | ' | ' | ' | ' | ' | ' | ' |
| Additional disclosures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Total cash received from stock option exercises | ' | ' | $1,100,000 | $900,000 | ' | ' | ' | ' | ' | ' |
| Proceeds resulting from exercise of stock options | ' | ' | ' | ' | 990,000 | ' | ' | ' | ' | ' |
| Weighted-average grant date fair value of options (in dollars per share) | $4.21 | $6 | $7.65 | $4.04 | ' | ' | ' | ' | ' | ' |
| Total fair value of restricted stock vested during the period | ' | ' | ' | ' | ' | $200,000 | $400,000 | ' | ' | ' |
| Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Outstanding at the beginning of the period (in shares) | ' | ' | ' | ' | ' | 35,122 | ' | ' | ' | ' |
| Vested (in shares) | ' | ' | ' | ' | ' | -32,622 | ' | ' | ' | ' |
| Granted (in shares) | ' | ' | ' | ' | ' | 115,000 | ' | ' | ' | ' |
| Forfeited (in shares) | ' | ' | ' | ' | ' | -75,000 | ' | ' | ' | ' |
| Outstanding at the end of the period (in shares) | ' | ' | ' | ' | ' | 42,500 | ' | ' | ' | ' |
| Weighted average grant date fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Outstanding at the beginning of the period (in dollars per share) | ' | ' | ' | ' | ' | $5.04 | ' | ' | ' | ' |
| Vested (in dollars per share) | ' | ' | ' | ' | ' | $5.33 | ' | ' | ' | ' |
| Granted (in dollars per share) | ' | ' | ' | ' | ' | $7.99 | ' | ' | ' | ' |
| Forfeited (in dollars per share) | ' | ' | ' | ' | ' | $9.59 | ' | ' | ' | ' |
| Outstanding at the end of the period (in dollars per share) | ' | ' | ' | ' | ' | $4.78 | ' | ' | ' | ' |
| Weighted average assumptions used to estimate fair value of each employee stock option award | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Risk-free interest rate (as a percent) | 1.74% | 0.92% | 1.12% | 1.11% | ' | ' | ' | ' | ' | ' |
| Expected life in years | '6 years 3 months | '6 years 2 months 23 days | '6 years 3 months | '6 years 2 months 26 days | ' | ' | ' | ' | ' | ' |
| Volatility (as a percent) | 103.00% | 102.00% | 102.00% | 101.00% | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Detail1
| Stock-Based Compensation (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | ||
| In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
| Stock-based compensation expense | ' | ' | ' | ' |
| Stock-based compensation expense | $1,683 | $801 | $4,490 | $2,359 |
| Research and development | ' | ' | ' | ' |
| Stock-based compensation expense | ' | ' | ' | ' |
| Stock-based compensation expense | 902 | 612 | 2,363 | 1,797 |
| General and administrative | ' | ' | ' | ' |
| Stock-based compensation expense | ' | ' | ' | ' |
| Stock-based compensation expense | 781 | 189 | 2,127 | 562 |
| Employee stock options | ' | ' | ' | ' |
| Stock-based compensation expense | ' | ' | ' | ' |
| Stock-based compensation expense | 1,620 | 765 | 4,276 | 2,222 |
| Restricted stock | ' | ' | ' | ' |
| Stock-based compensation expense | ' | ' | ' | ' |
| Stock-based compensation expense | $63 | $36 | $214 | $137 |
StockBased_Compensation_Detail2
| Stock-Based Compensation (Details 3) (USD $) | 9 Months Ended |
| In Thousands, unless otherwise specified | Sep. 30, 2013 |
| Unrecognized stock-based compensation expense | ' |
| Unrecognized stock compensation expense | $14,284 |
| Weighted average remaining period | '2 years 9 months 29 days |
| Employee stock options | ' |
| Unrecognized stock-based compensation expense | ' |
| Unrecognized stock compensation expense | 14,125 |
| Weighted average remaining period | '2 years 10 months 6 days |
| Restricted stock | ' |
| Unrecognized stock-based compensation expense | ' |
| Unrecognized stock compensation expense | $159 |
| Weighted average remaining period | '8 months 19 days |
Other_Accrued_Liabilities_Deta
| Other Accrued Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
| In Thousands, unless otherwise specified | ||
| Other Accrued Liabilities | ' | ' |
| Compensation and benefits | $2,262 | $3,272 |
| Professional fees | 1,442 | 999 |
| Other | 793 | 856 |
| Other accrued liabilities | $4,497 | $5,127 |
Term_Loans_Details
| Term Loans (Details) (USD $) | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 7 Months Ended | 9 Months Ended | 9 Months Ended | |||||||
| Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | 31-May-11 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | |
| GECC Term Loan | GECC Term Loan | GECC Term Loan | GECC Term Loan | GECC Term Loan | GECC Term Loan | Oxford Term Loan | Oxford Term Loan | Oxford Term Loan | Oxford Term Loan | Oxford Term Loan | Oxford Term Loan | Oxford Term Loan | Oxford Term Loan | Oxford Term Loan | ||
| payment | Maximum | payment | payment | Maximum | Minimum | |||||||||||
| Term Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Proceeds from term loans | $13,500,000 | ' | ' | ' | ' | ' | ' | ' | $2,000,000 | ' | ' | ' | ' | ' | ' | ' |
| Principal amount of debt issued | ' | 12,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' |
| Principal balance | ' | 22,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Annual interest rate on term loan (as a percent) | ' | 9.75% | ' | ' | ' | ' | ' | ' | 13.35% | ' | ' | ' | ' | ' | ' | ' |
| Number of equal monthly payments of principal plus accrued interest | ' | 30 | ' | ' | ' | ' | ' | 36 | ' | ' | ' | ' | ' | ' | ' | ' |
| Exit fee to be paid | ' | ' | ' | ' | 788,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Interest expense recognized | ' | ' | 682,000 | 423,000 | 1,819,000 | 1,315,000 | ' | ' | ' | 36,000 | 40,000 | ' | 99,000 | 137,000 | ' | ' |
| Transaction and exit fees and expenses recognized in interest expense | ' | ' | 122,000 | 82,000 | 444,000 | 239,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Amount of equipment financing allowed under covenants without any restriction | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Additional amount that the Company may fully utilized in equipment financing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' |
| Number of equal monthly payments of principal plus accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | ' | ' | ' |
| Legal fees and expenses paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,000 | ' | ' | ' |
| Amount of debt assumption from acquisitions requiring prior written consent under covenants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 |
| Future principal payments under the GECC and Oxford Term Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| 2013 | 233,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| 2014 | 9,451,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| 2015 | 9,214,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| 2016 | 4,607,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Total future principal payments | $23,505,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |