Intercept Pharmaceuticals (ICPT) 10-K 2 Mar 15 2014 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Feb. 15, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	INTERCEPT PHARMACEUTICALS INC
Entity Central Index Key	1270073
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Trading Symbol	icpt
Entity Common Stock, Shares Outstanding		22,635,857
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2014
Entity Well-Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$2,970,850,843

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$20,022,927	$13,363,185
Investment securities, available-for-sale	219,700,890	131,468,797
Prepaid expenses and other current assets	6,104,017	2,732,556
Total current assets	245,827,834	147,564,538
Fixed assets, net	5,851,756	1,672,295
Security deposits	2,469,343	1,081,747
Total assets	254,148,933	150,318,580
Current liabilities:
Accounts payable, accrued expenses and other liabilities	13,459,489	7,259,805
Short-term portion of deferred revenue	1,781,620	1,621,622
Total current liabilities	15,241,109	8,881,427
Long-term liabilities:
Long-term portion of deferred revenue	8,017,301	8,918,916
Long-term portion of warrant liability		50,112,137
Total liabilities	23,258,410	67,912,480
Stockholders' equity:
Common stock. 25,000,000 shares authorized; 19,389,610, and 21,415,243 shares issued and outstanding as of December 31, 2013 and December 31, 2014, respectively; par value $0.001 per share	21,415	19,390
Additional paid-in capital	700,354,657	268,302,617
Accumulated other comprehensive income (loss), net	-283,835	59,853
Accumulated deficit	-469,201,714	-185,975,760
Total stockholders equity	230,890,523	82,406,100
Total liabilities and stockholders' equity	$254,148,933	$150,318,580

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, authorized	35,000,000	25,000,000
Common stock, issued	21,415,243	19,389,610
Common stock, outstanding	21,415,243	19,389,610

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Licensing revenue	$1,741,618	$1,621,627	$2,446,105
Costs and expenses:
Research and development	80,310,535	27,941,507	16,182,564
General and administrative	34,601,297	13,131,839	5,177,129
Total costs and expenses	114,911,832	41,073,346	21,359,693
Other income (expense):
Revaluation of warrants	-170,831,872	-28,441,066	-24,625,598
Foreign currency loss on liquidation			-191,733
Other income, net	776,132	100,375	87,848
Total other income (expense)	-170,055,740	-28,340,691	-24,729,483
Net income (loss)	-283,225,954	-67,792,410	-43,643,071
Dividends on preferred stock, not declared			-2,630,435
Net loss attributable to common stockholders	($283,225,954)	($67,792,410)	($46,273,506)
Net loss per share, basic and diluted (in dollars per share)	($13.63)	($3.76)	($7.36)
Weighted average shares outstanding, basic and diluted (in shares)	20,784,438	18,028,731	6,283,238

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Loss [Abstract]
Net loss	($283,225,954)	($67,792,410)	($43,643,071)
Other comprehensive (loss):
Unrealized holding gains (losses) arising during the period	-368,600	81,304	-21,451
Reclassification for recognized gains on marketable investment securities during the period recognized in other income, net	24,912
Foreign currency translation adjustments			184,500
Net unrealized gains (losses) on marketable investment securities	-343,688	81,304	163,049
Comprehensive loss	($283,569,642)	($67,711,106)	($43,480,022)

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Stockholders' Equity (USD $)	Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Series C Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumlated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2010
Stock-based compensation:
Net loss						($12,737,654)		($12,737,654)
Balance at Dec. 31, 2011	13,889	13,889		3,330	72,133,893	-74,540,279	-184,500	-2,559,778
Balance (in shares) at Dec. 31, 2011	13,888,889	13,888,889		3,329,666
Stock-based compensation:
Directors and employees					2,436,430			2,436,430
Consultants					912,559			912,559
Private placement - August 9, 2012			15,000		29,715,000			29,730,000
Private placement - August 9, 2012 (in shares)			15,000,000
Preferred shares converted to common stock	-13,889	-13,889	-15,000	7,404	35,374
Preferred shares converted to common stock (in shares)	-13,888,889	-13,888,889	-15,000,000	7,403,817
Issuance of common stock from initial public offering, net of underwriting fees and issuance costs				5,750	78,764,246			78,769,996
Issuance of common stock from initial public offering, net of underwriting fees and issuance costs (in shares)				5,750,000
Warrants converted to common stock				43	1,018,172			1,018,215
Warrants converted to common stock (in shares)				43,402
Reclassification of warrants from equity to liabilities					-915,535			-915,535
Other comprehensive income (loss)							163,049	163,049
Net loss						-43,643,071		-43,643,071
Balance at Dec. 31, 2012				16,527	184,100,139	-118,183,350	-21,451	65,911,865
Balance (in shares) at Dec. 31, 2012				16,526,885
Stock-based compensation:
Directors and employees					6,818,436			6,818,436
Consultants					2,627,659			2,627,659
Net proceeds from exercise of stock options				638	4,893,451			4,894,089
Net proceeds from exercise of stock options (in shares)				637,808
Issuance of common stock from initial public offering, net of underwriting fees and issuance costs				1,990	61,167,347			61,169,337
Issuance of common stock from initial public offering, net of underwriting fees and issuance costs (in shares)				1,989,500
Warrants converted to common stock				235	8,695,585			8,695,820
Warrants converted to common stock (in shares)				235,418
Proceeds from exercise of options								4,894,089
Other comprehensive income (loss)							81,304	81,304
Net loss						-67,792,410		-67,792,410
Balance at Dec. 31, 2013				19,390	268,302,617	-185,975,760	59,853	82,406,100
Balance (in shares) at Dec. 31, 2013				19,389,611
Stock-based compensation:
Directors and employees					15,250,509			15,250,509
Consultants					4,876,285			4,876,285
Net proceeds from exercise of stock options				591	7,507,450			7,508,040
Net proceeds from exercise of stock options (in shares)				590,874				469,224
Issuance of common stock from initial public offering, net of underwriting fees and issuance costs				600	183,474,622			183,475,222
Issuance of common stock from initial public offering, net of underwriting fees and issuance costs (in shares)				600,000
Warrants converted to common stock				835	220,943,174			220,944,009
Warrants converted to common stock (in shares)				834,758
Proceeds from exercise of options								7,508,040
Other comprehensive income (loss)							-343,688	-343,688
Net loss						-283,225,954		-283,225,954
Balance at Dec. 31, 2014				$21,415	$700,354,657	($469,201,714)	($283,835)	$230,890,523
Balance (in shares) at Dec. 31, 2014				21,415,243

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net loss	($283,225,954)	($67,792,410)	($43,643,071)
Adjustments to reconcile net loss to net cash used in operating activities:
Foreign currency loss on liquidation			191,733
Revaluation of warrants	170,831,872	28,441,066	24,625,598
Share-based compensation	20,126,794	9,446,095	3,348,989
Amortization of investment premium	3,366,224	1,614,882	118,180
Depreciation	442,797	105,683	201,323
Loss on the disposal of property and equipment	20,913
Changes in:
Prepaid expenses, other current assets and security deposits	-4,759,057	-1,714,130	-387,690
Accounts payable, accrued expenses, and other current liabilities	6,199,684	3,514,032	2,241,575
Deferred revenue	-741,618	-1,621,627	-2,446,105
Net cash used in operating activities	-87,738,344	-28,006,409	-15,749,468
Cash flows from investing activities:
Redemptions of certificates of deposit			3,328
Purchases of investment securities	-204,343,743	-125,825,108	-65,940,976
Sales of investment securities	112,401,738	57,240,679	1,119,075
Purchases of equipment, improvements, and furniture and fixtures	-4,643,171	-1,629,140	-38,795
Net cash used in investing activities	-96,585,176	-70,213,569	-64,857,368
Cash flows from financing activities:
Proceeds from issuance of stock offerings, net of issuance costs	183,475,222	61,169,337	108,499,996
Payments of capital lease obligation			-81,762
Proceeds from exercise of options	7,508,040	4,894,089
Proceeds from exercise of warrants		8,097
Net cash provided by financing activities	190,983,262	66,071,523	108,418,234
Effect of exchange rate changes			-7,233
Net increase in cash and cash equivalents	6,659,742	-32,148,456	27,804,165
Cash and cash equivalents - beginning of period	13,363,185	45,511,641	17,707,476
Cash and cash equivalents - end of period	20,022,927	13,363,185	45,511,641
Supplemental disclosures of noncash activities:
Issuance of common stock for cashless warrant exchange	220,944,009	8,695,585	1,018,215
Cash paid during the year for interest			$4,234

Overview_of_Business

Overview of Business	12 Months Ended
	Dec. 31, 2014
Overview of Business [Abstract]
Overview of Business	1. Overview of Business
	Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”), is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat chronic liver with high unmet medical need utilizing its proprietary bile acid chemistry. The Company’s product candidates have the potential to treat orphan and more prevalent liver diseases for which there currently are limited therapeutic solutions.
	The Company has its administrative headquarters in New York, New York and an office in San Diego, California. In February 2015, we signed a lease for an office in London, United Kingdom. The Company has a wholly-owned subsidiary in Italy which acts as the Company’s legal representative for its clinical trials in the European Union to satisfy European Union regulatory requirements and a wholly-owned subsidiary in the United Kingdom. Intercept was incorporated in Delaware in September 2002.
	On September 13, 2012, the board of directors of the Company approved, and on September 25, 2012 the stockholders of the Company approved, a one-for-5.7778 reverse stock split of the Company’s outstanding common stock, which was effected on September 26, 2012.
	The Company’s activities are subject to significant risks and uncertainties, including failing to secure additional funding.

Basis_of_Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2014
Basis of Presentation [Abstract]
Basis of Presentation	2. Basis of Presentation
	The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies
	A. Principles of Consolidation
	The consolidated financial statements include the accounts of Intercept and its subsidiaries, including Intercept Italia S.R.L. and Intercept Pharma Europe LTD. The activities of the subsidiaries is not considered material to these financial statements. All intercompany balances and transactions have been eliminated in consolidation.
	B. Cash and Cash Equivalents
	The Company considers all highly liquid securities with a maturity of three months or less at acquisition to be cash equivalents.
	C. Investment Securities
	Investment securities are considered to be available-for-sale and are carried at fair value. Unrealized gains and losses, if any, are reported in other comprehensive income (loss). The cost of investment securities classified as available-for-sale is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and accretion are included in interest income. Realized gains and losses, and declines in value judged to be other-than-temporary, if any, are also included in other income, net. The cost of securities sold is based on the specific identification method.
	D. Fair Value of Financial Instruments
	Financial instruments, including cash and cash equivalents, receivables, accounts payable and accrued liabilities are carried at cost which management believes approximates fair value because of the short term maturity of these instruments.
	E. Concentration of Credit Risk
	Financial instruments, which potentially subject the Company to concentrations of credit risk, principally consist of cash, cash equivalents and investment securities. The Company currently invests its excess cash primarily in money market funds, U.S. Treasury notes, and high quality, marketable debt instruments of corporations, financial institutions and government sponsored enterprises. The Company has adopted an investment policy that includes guidelines relative to credit quality, diversification and maturities to preserve principal and liquidity.
	F. Fixed Assets
	Fixed assets are stated at cost, and depreciated over the estimated useful life of the assets. Depreciation is recorded using the straight-line method over the estimated useful lives of three to seven years for equipment and seven years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the asset’s useful life or the life of the lease term. Expenditures for maintenance and repairs are charged to expense as incurred.
	G. Impairment of Long-Lived Assets
	Long-lived assets consist of fixed assets. The Company evaluates long-lived assets for impairment when events and circumstances indicate that the carrying amount of an asset or group of assets may not be fully recoverable.
	H. Revenue Recognition
	All of the Company’s revenue during the periods covered by these financial statements has been derived from its research and development and licensing collaborations. These agreements include non-refundable up-front fees and the potential for research, development, regulatory and commercial milestone fees, as well as royalties on sales of licensed products, if and when such product sales occur. As of December 31, 2014, the Company has received only up-front fees from its collaborations.
	The Company evaluates all deliverables within an arrangement to determine whether they provide value on a stand-alone basis. Based on this evaluation, the deliverables are separated into units of accounting. The arrangement consideration that is fixed and determinable at the inception of the arrangement is allocated to the separate units of accounting based on relative fair value. The Company may exercise significant judgment in determining whether a deliverable is a separate unit of accounting, as well as in estimating the selling prices of such units of accounting. For each unit of accounting identified within an arrangement, the Company determines the period over which the performance obligation occurs and recognizes the revenue using a straight-line method.
	The Company accounts for the development, regulatory and sales milestones within an arrangement in accordance with the milestone method of revenue recognition. This method allows for the recognition of consideration which is contingent on the achievement of a substantive milestone in its entirety in the period the milestone is achieved. Each future milestone is considered substantive if it (i) relates solely to the past performance of the intellectual property to achieve the milestone; (ii) is reasonable relative to all of the deliverables and payment terms in the arrangement; and (iii) is commensurate with either the Company’s performance or the enhanced value of the intellectual property as a result of a specific outcome resulting from the Company’s performance.
	I. Research and Development Expenses
	Research and development costs that do not have alternative future use are charged to expense as incurred.  This includes the cost of conducting clinical trials, compensation and related overhead for employees and consultants involved in research and development and the cost of the Company’s manufacturing activities to supply ongoing and future clinical trials and preclinical studies as well as preparations for commercialization of OCA.
	J. Stock-based Compensation
	The Company estimates the fair value of stock options using the Black-Scholes option pricing model on the date of the grant. Restricted stock units and restricted stock awards are valued based on the closing price of the Company’s common stock on the date of the grant. The fair value of equity instruments expected to vest are recognized and amortized on a straight-line basis over the requisite service period of the award. Generally stock options fully vest four years from the grant date and have a term of ten years. The Company recognizes stock-based compensation for consultants on a mark–to-market basis which is updated on a quarterly basis.
	K. Warrants to Purchase Common Stock
	In conjunction with various financing transactions, the Company issued warrants to purchase the Company’s common stock. Certain of the warrants included a so-called “down round” provision that provided for a reduction in the warrant exercise price if there were subsequent issuances of additional shares of common stock for consideration per share less than the per share warrant exercise prices and certain warrants contained a provision that required the underlying shares to be registered upon an initial public offering (IPO). These warrants were deemed to be derivative instruments and as such, were recorded as a liability and were marked-to-market at each reporting period using the Black-Scholes option pricing model. The Company estimated the fair values of the warrants at each reporting period using a Black-Scholes option-pricing model that used the inputs detailed in note 9 and the contractual terms of the warrants. Management concluded, under the Company’s facts and circumstances, that the estimated fair values of the warrants using the Black-Scholes option-pricing model approximates, in all material respects, the values determined using a binomial valuation model. The estimates in the Black-Scholes option-pricing model and the binomial valuation model are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk free interest rate and the fair value of the common stock underlying the warrants. Changes in the fair value of the common stock warrant liability from the prior period were recorded as a component of other income and expense.
	L. Net Income (Loss) Per Share
	Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted net income (loss) per share gives effect to all dilutive potential common shares outstanding during the period including stock options, restricted stock units (RSUs) and restricted stock awards (RSAs) and warrants using the treasury stock method.
	M. Income Taxes
	The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect for years in which the temporary differences are expected to reverse. The Company establishes a valuation allowance when it believes it is more likely than not deferred tax assets will not be realized.
	The Company determines the need for a valuation allowance by assessing the probability of realizing deferred tax assets, taking into consideration all available positive and negative evidence, including historical operating results, expectations of future taxable income, carryforward periods available to the Company for tax reporting purposes, various income tax strategies and other relevant factors. Significant judgment is required in making this assessment and to the extent future expectations change, the Company would have to assess the recoverability of its deferred assets at that time. At December 31, 2013 and 2014, the Company maintained a full valuation allowance on its deferred tax assets.
	At any one time the Company’s tax returns for numerous tax years are subject to examination by U.S., federal, state and foreign taxing jurisdictions. The impact of an uncertain tax position taken or expected to be taken on an income tax return must be recognized in the financial statements at the largest amount that is more likely than not to be sustained. An uncertain income tax position will not be recognized in the financial statements unless it is more likely than not to be sustained.
	N. Segments
	The Company operates in one segment. The Company is a biopharmaceutical company focused on discovering, developing and commercializing treatments for chronic liver and intestinal diseases utilizing its proprietary bile acid chemistry.
	O. Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” which requires entities to recognize revenue in the way it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most of the existing revenue recognition requirements in the U.S. GAAP when it becomes effective. This pronouncement is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and is to be applied retrospectively, with early application not permitted. The Company is currently evaluating the effect that this pronouncement will have on its financial statements and related disclosures.
	In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, Development Stage Entities (Topic 915) – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation which eliminates the concept of a development stage entity (DSE) in its entirety from current accounting guidance. Previous reporting requirements for a DSE, including inception-to-date information, will no longer apply. For public business entities, the amendments to ASU 2014-10 are effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). The Company has elected to early adopt this ASU.

Significant_Agreements

Significant Agreements	12 Months Ended
	Dec. 31, 2014
Significant Agreements [Abstract]
Significant Agreements	4. Significant Agreement
	Sumitomo Dainippon Pharma Co., Ltd. (Sumitomo Dainippon)
	In March 2011, the Company entered into an exclusive license agreement with Sumitomo Dainippon to research, develop and commercialize obeticholic acid (OCA) as a therapeutic for the treatment of primary biliary cirrhosis (PBC) and nonalcoholic steatohepatitis (NASH) in Japan and China (excluding Taiwan). Under the terms of the license agreement, the Company received an up-front payment from Sumitomo Dainippon of $15.0 million and may be eligible to receive additional milestone payments up to an aggregate of approximately $30.0 million in development milestones based on the initiation or completion of clinical trials, $70.0 million in regulatory approval milestones and $200.0 million in sales milestones. The regulatory approval milestones include $15.0 million for receiving marketing approval for OCA for NASH in Japan, $10.0 million for receiving marketing approval for OCA for NASH in China, and up to $5.0 million for receiving marketing approval for OCA for PBC in the United States. As of March 2, 2015, we achieved $1.0 million of the development milestones under our collaboration agreement with Sumitomo Dainippon. The sales milestones are based on aggregate sales amounts of OCA and include $5.0 million for achieving net sales of $50.0 million, $10.0 million for achieving net sales of $100.0 million, $20.0 million for achieving net sales of $200.0 million, $40.0 million for achieving net sales of $400.0 million and $120.0 million for achieving net sales of $1.2 billion. Sumitomo Dainippon is also required to make royalty payments ranging from the tens to the twenties in percent based on net sales of OCA products in the Sumitomo Dainippon territory. In May 2014, Sumitomo Dainippon exercised its option under the license agreement to add Korea as part of its licensed territories and paid the Company a $1.0 million up-front fee. Sumitomo Dainippon has the option to add several other Asian countries to its territory to pursue OCA for additional indications. Sumitomo Dainippon will be responsible for the costs of developing and commercializing OCA in its territories.
	The Company evaluated the license agreement with Sumitomo Dainippon and determined that it is a revenue arrangement with multiple deliverables, or performance obligations. The Company’s substantive performance obligations under this license include an exclusive license to its technology, technical and scientific support to the development plan and participation on a joint steering committee. The Company determined that these performance obligations represent a single unit of accounting, since, initially, the license does not have stand-alone value to Sumitomo Dainippon without the Company’s technical expertise and steering committee participation during the development of OCA. This development period is currently estimated as continuing through June 2020 and, as such, the up-front payment and the Korea option are being recognized ratably over this period. During the years ended December 31, 2012, 2013 and 2014, the Company recorded revenue of approximately $1.6 million, $1.6 million and $1.7 million, respectively, in “Licensing Revenue” in its Consolidated Statement of Operations for the Company’s efforts under the agreement during 2012, 2013, and 2014. The Company did not achieve any of the milestones relating to the agreement and did not recognize any revenue related to such milestones. The Company has determined that each potential future development, regulatory and sales milestone is substantive.

Investments

Investments	12 Months Ended
	Dec. 31, 2014
Investments [Abstract]
Investments	5. Investments
	The following table summarizes the Company’s cash, cash equivalents and investments as of December 31, 2013 and December 31, 2014:
		As of December 31, 2013
					Gross				Gross
		Amortized Cost			Unrealized				Unrealized			Fair Value
					Gains				Losses
		(in thousands)
	Cash and cash equivalents:
	Cash and money market funds	$	13,363		$	-			$	-		$	13,363
	Investment securities:
	Commercial paper		7,993			1				-			7,994
	Corporate debt securities		115,704			115				-59			115,760
	Municipal securities		1,051			1				-			1,052
	U.S. government and agency securities		6,657			6				-			6,663
	Total investments		131,405			123				-59			131,469
	Total cash, cash equivalents and investments	$	144,768		$	123			$	-59		$	144,832
		As of December 31, 2014
					Gross				Gross
		Amortized Cost			Unrealized				Unrealized			Fair Value
					Gains				Losses
		(in thousands)
	Cash and cash equivalents:
	Cash and money market funds	$	20,023		$	-			$	-		$	20,023
	Investment securities:
	Commercial paper		7,995			-				-1			7,994
	Corporate debt securities		203,988			19				-282			203,725
	U.S. government and agency securities		7,998			-				-16			7,982
	Total investments		219,981			19				-299			219,701
	Total cash, cash equivalents and investments	$	240,004		$	19			$	-299		$	239,724
	The following table shows the gross unrealized losses and fair value of the Company’s available-for-sale investments aggregated by investment category and length of time that individual securities have been in the position:
		As of December 31, 2013
		Less than 12 months						12 Months or greater				Total
								(in thousands)
		Fair Value		Gross Unrealized Losses			Fair Value			Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	Corporate debt securities	$	9,515	$	-2		$	31,312		$	-57	$	40,827	$	-59
	Total	$	9,515	$	-2		$	31,312		$	-57	$	40,827	$	-59
		As of December 31, 2014
		Less than 12 months						12 Months or greater				Total
								(in thousands)
		Fair Value		Gross Unrealized Losses			Fair Value			Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	Corporate debt securities	$	86,221	$	-63		$	81,561		$	-219	$	167,782	$	-282
	Commercial paper		4,994		-1			-			-		4,994		-1
	U.S. government and agency securities		-		-			4,481			-16		4,481		-16
	Total	$	91,215	$	-64		$	86,042		$	-235	$	177,257	$	-299

Prepaid_Expenses_and_Other_Cur

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2014
Prepaid Expenses and Other Current Assets [Abstract]
Prepaid Expenses and Other Current Assets	6. Prepaid Expenses and Other Current Assets
	Prepaid expenses and other current assets consisted of the following:
		December 31,
		2013		2014
		(in thousands)
	Prepaid expenses	$	1,277	$	3,547
	Interest receivable		834		1,455
	Contract receivable		506		1,091
	Certificates of deposit		78		-
	Refundable tax credits		38		11
	Prepaid expenses and other current assets	$	2,733	$	6,104

Fixed_Assets_Net

Fixed Assets, Net	12 Months Ended
	Dec. 31, 2014
Fixed Assets, Net [Abstract]
Fixed Assets, Net	7. Fixed Assets, Net
	Fixed assets are stated at cost and depreciated or amortized using the straight-line method based on useful lives as follows:
		Useful lives	December 31,
		(Years)	2013		2014
			(in thousands)
	Office equipment and software	3	$	364	$	799
	Leasehold improvements	Over life of lease		1,156		3,321
	Furniture and fixtures	7		445		2,410
	Subtotal			1,965		6,530
	Less: accumulated depreciation and amortization			-293		-679
	Fixed assets, net		$	1,672	$	5,851
	Depreciation and amortization expense for the years ended December 31, 2012, 2013 and 2014 was $201,000,  $106,000 and $443,000, respectively.

Accounts_Payable_Accrued_Expen

Accounts Payable, Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2014
Accounts Payable, Accrued Expenses and Other Liabilities [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	8. Accounts Payable, Accrued Expenses and Other Liabilities
	Accrued expenses and other liabilities consisted of the following:
		December 31,
		2013		2014
		(in thousands)
	Accounts payable	$	3,196	$	3,129
	Accrued employee compensation		2,158		3,985
	Accrued contracted services and other		1,906		6,345
	Accounts payable, accrued expenses and other liabilities	$	7,260	$	13,459

Warrants_to_Purchase_Common_St

Warrants to Purchase Common Stock	12 Months Ended
	Dec. 31, 2014
Warrants to Purchase Common Stock [Abstract]
Warrants to Purchase Common Stock
	9. Warrants to Purchase Common Stock
	The Company’s activity related to warrants to purchase shares of common stock of the Company is noted in the table below.
		Warrants to Purchase Common Stock		Weighted Average Exercise Price
	Warrants issued and outstanding as of December 31, 2012	1,161,965		$	9.43
	Warrants exercised in 2013	-287,709			6.62
	Warrants expired in 2013	-8,875			5.77
	Warrants issued and outstanding as of December 31, 2013	865,381		$	10.40
	Warrants exercised in 2014	-865,381
	Warrants expired in 2014	-
	Warrants issued and outstanding as of December 31, 2014	-		$	-
	The warrants that required the underlying shares to be registered upon an IPO met the criteria to be a derivative upon the closing of the IPO in October 2012. The fair values of the warrants are reflected in the accompanying balance sheets and were determined using the Black-Scholes option-pricing model using the following weighted average assumptions.
			December 31,
			2012				2013
	Stock price		$		34.24		$	68.28
	Expected dividend yield				—	%		—	%
	Expected term (in years)				1.72			1.07
	Risk free interest rate				0.22	%		0.15	%
	Expected volatility				84.01	%		57.26	%
	The expected term was based on the remaining term of each warrant. The risk free interest rate is based on the rate for U.S. Treasury securities for the expected term of each warrant valued. The expected volatility was estimated solely based on historical volatility information of peer companies that was publicly available in 2012 and based upon a blend of the historical volatility information of peer companies and the Company’s own volatility for 2013.
	On April 10, 2014, all the Company’s remaining warrants to purchase a total of 865,381 shares of its common stock were exercised on a cashless basis into 834,758 shares of the Company’s common stock and as such no further revaluations are required.

Fair_Value_Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2014
Fair Value Measurements [Abstract]
Fair Value Measurements	10. Fair Value Measurements
	The carrying amounts of the Company’s receivables and payables approximate their fair value due to their short maturities.
	Accounting principles provide guidance for using fair value to measure assets and liabilities. The guidance includes a three level hierarchy of valuation techniques used to measure fair value, defined as follows:
		·		Unadjusted Quoted Prices — The fair value of an asset or liability is based on unadjusted quoted prices in active markets for identical assets or liabilities (Level 1).
		·		Pricing Models with Significant Observable Inputs — The fair value of an asset or liability is based on information derived from either an active market quoted price, which may require further adjustment based on the attributes of the financial asset or liability being measured, or an inactive market transaction (Level 2).
		·		Pricing Models with Significant Unobservable Inputs — The fair value of an asset or liability is primarily based on internally derived assumptions surrounding the timing and amount of expected cash flows for the financial instrument. Therefore, these assumptions are unobservable in either an active or inactive market (Level 3).
	The Company considers an active market as one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Conversely, the Company views an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, non-performance risk, or that of a counterparty, is considered in determining the fair values of liabilities and assets, respectively.
	The Company’s cash deposits and money market funds are classified within Level 1 of the fair value hierarchy because they are valued using bank balances or quoted market prices. Investments are classified as Level 2 instruments based on market pricing and other observable inputs. None of the Company’s investments are classified within Level 3 of the fair value hierarchy. The Company’s warrant liability had been valued pursuant to the discussion in note 9 above and thus was included in Level 3.
	Financial assets and liabilities, carried at fair value are classified in the tables below in one of the three categories described above:
					Fair Value Measurements Using
			Total				Quoted Prices in Active Markets for Identical Assets or Liabilities      (Level 1)		Significant Other Observable Inputs       (Level 2)		Significant Unobservable Inputs        (Level 3)
			(in thousands)
	31-Dec-13
	Assets:
	Money market funds		$	8,216			$	8,216	$	-	$	-
	Available for sale securities:											-
	Commercial paper			7,994				-		7,994	$	-
	Corporate debt securities			115,760				-		115,760		-
	U.S. government and agency securities			6,663				-		6,663		-
	Municipal securities			1,052				-		1,052		-
	Total financial assets:		$	139,685			$	8,216	$	131,469	$	-
	Liabilities:
	Warrants to purchase common stock		$	-50,112			$	-	$	-	$	-50,112
	Total financial liabilities		$	-50,112			$	-	$	-	$	-50,112
	31-Dec-14
	Assets:
	Money market funds		$	21,284			$	21,284	$	-	$	-
	Available for sale securities:
	Commercial paper			7,994				-		7,994		-
	Corporate debt securities			203,725				-		203,725		-
	U.S. government and agency securities			7,982				-		7,982		-
	Total financial assets:		$	240,985			$	21,284	$	219,701	$	-
	The estimated fair value of marketable debt securities (commercial paper, corporate debt securities, U.S. government and agency securities, and municipal securities) as of December 31, 2013 and 2014, respectively, by contractual maturity, are as follows:
			Fair Value as of December 31,
			2013			2014
			(in thousands)
	Due in one year or less		$	56,044		$	130,159
	Due after one year through 2 years			75,425			89,542
	Total investments in debt securities		$	131,469		$	219,701
	Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.

Stockholders_Equity_and_Prefer

Stockholders' Equity and Preferred Stock	12 Months Ended
	Dec. 31, 2014
Stockholders' Equity and Preferred Stock [Abstract]
Stockholders' Equity and Preferred Stock	11. Stockholders’ Equity and Preferred Stock
	Common Stock
	As of December 31, 2014, the Company had 35,000,000 authorized shares of common stock, $0.001 par value per share.
	In October 2012, the Company completed the IPO of its common stock pursuant to a registration statement on Form S-1. In the IPO, the Company sold an aggregate of 5,750,000 shares of common stock under the registration statement at a public offering price of $15.00 per share. Net proceeds were approximately $78.7 million, after deducting underwriting discounts and commissions and offering expenses payable by the Company. Upon the closing of the IPO, all outstanding shares of the Company’s preferred stock (described below) were converted into 7,403,817 shares of common stock.
	In June 2013, the Company completed a public offering of 1,989,500 shares of its common stock at a public offering price of $33.01 per share. The shares were registered pursuant to a registration statement on Form S-1. Net proceeds were approximately $61.2 million, after deducting underwriting discounts and commissions and offering expenses payable by the Company.
	In April 2014, the Company completed a public offering of 1,000,000 shares of its common stock, of which 600,000 shares were sold by the Company and 400,000 shares were sold by certain selling stockholders, at a public offering price of $320.00 per share. The shares were registered pursuant to a registration statement on Form S-3. After underwriting discounts and commissions and offering expenses, the Company received net proceeds from the offering of approximately $183.5 million. The Company did not receive any proceeds from the sale of shares of common stock by the selling stockholders.
	In February 2015, the Company completed a public offering of 1,150,000 shares of its common stock at a public offering price of $176.00 per share. The shares were registered pursuant to a registration statement on Form S-3. After underwriting discounts and commissions and estimated offering expenses, the Company received net proceeds of approximately $191.2 million.
	Dividends
	The holders of common stock are entitled to receive dividends from time to time as declared by the Board of Directors. The Company has not declared any cash dividends on its common stock, and does not anticipate paying any cash dividends on its common stock in the foreseeable future. The Company intends to retain all available funds and any future earnings to fund the development and expansion of its business. Any future determination to pay dividends will be at the discretion of the board of directors and will depend upon a number of factors, including the results of operations, financial condition, future prospects, contractual restrictions, restrictions imposed by applicable law and other factors the board of directors deems relevant.
	Voting
	The holders of shares of common stock are entitled to one vote for each share held with respect to all matters voted on by the stockholders of the Company.
	Preferred Stock
	As of December 31, 2014, the Company had 5,000,000 authorized shares of preferred stock, $0.001 par value per share, of which none are issued.

Stock_Compensation

Stock Compensation	12 Months Ended
	Dec. 31, 2014
Stock Compensation [Abstract]
Stock Compensation	12. Stock Compensation
	The 2012 Equity Incentive Plan (2012 Plan) became effective upon the pricing of the IPO in October 2012. At the same time, the 2003 Stock Incentive Plan (2003 Plan) was terminated and 555,843 shares available under the 2003 Plan were added to the 2012 Plan.
	The estimated fair value of the options that have been granted under the 2003 and 2012 Plans is determined utilizing the Black-Scholes option-pricing model at the date of grant. The fair value of the RSUs and RSAs that have been granted under the 2012 Plan is determined utilizing the closing stock price on the date of grant. There were 409,914 and 745,275 shares available for grant remaining under the 2012 Plan at December 31, 2013 and 2014, respectively. On January 1, 2013, 2014 and 2015 the numbers of shares reserved for issuance under the 2012 Plan was increased by 661,075, 775,584, 856,609 shares, respectively, as a result of the automatic increase in shares reserved pursuant to the terms thereof.
	Stock-based compensation expense for the years ended December 31, 2012, 2013 and 2014 includes compensation expense for employee, director and consultant stock option grants and restricted stock grants as follows:
		Years Ended December 31,
		2012			2013			2014
		(in thousands)
	Stock options expense:
	Employees and directors	$	2,162		$	5,173		$	12,148
	Consultants		822			2,275			3,700
			2,984			7,448			15,848
	Restricted stock expense (RSUs and RSAs):
	Employees and directors		307			1,646			3,102
	Consultants		58			352			1,177
			365			1,998			4,279
	Total	$	3,349		$	9,446		$	20,127
	Stock Options
	The Company estimated the fair value of stock options granted in the periods presented using a Black-Scholes option-pricing model utilizing the following assumptions:
		Years Ended December 31,
		2012		2013		2014
	Volatility	107 - 115%		95 - 115%		70 - 150%
	Expected term (in years)	5.0 - 6.0		5.3 - 6.1		4.0 - 7.0
	Risk-free rate	0.7 - 0.8%		0.9 - 3.0%		1.3 - 2.7%
	Expected dividend yield	— %		— %		—  %
	The stock price for options granted prior to the IPO was determined based on a valuation of the Company’s common stock. For options granted after the IPO, the stock price is the closing price on the date of grant. The risk-free interest rate was based on the rate for U.S. Treasury securities at the date of grant with maturity dates approximately equal to the expected life at the grant date. The expected life for options was based on the simplified method in accordance with SEC Staff Accounting Bulletin Nos. 107 and 110 as the Company does not have sufficient historical exercise data due to the limited period of time the Company’s shares have been publicly traded. The expected volatility was estimated based on historical volatility information of peer companies that are publicly available.
	For the years ended December 31, 2012, 2013 and 2014, the Company granted to its employees and directors a total of 213,991,  584,550 and 452,424 stock options, respectively. For the years ended December 31, 2012, 2013 and 2014, the Company granted to its consultants a total of 16,441,  23,250 and 3,232 stock options, respectively.
	The Company’s combined outstanding employee and non-employee option activity for the period from December 31, 2013 through December 31, 2014 is summarized as follows:
							Weighted
							Average
				Weighted			Remaining		Aggregate
		Number		Average			Contractual		Intrinsic Value
		of Shares		Exercise Price			Term (years)		(in thousands)
	Outstanding at December 31, 2013	1,524,837		$					$	71,608
	Granted	393,769		$	215.53				$	9,148
	Exercised	-469,224		$	16.20				$	118,354
	Cancelled/forfeited	-11,435		$	77.62				$	2,090
	Expired	-1,892		$	9.56				$	277
	Outstanding at December 31, 2014	1,436,055		$	75.81		7.7		$	141,506
	Expected to vest	1,332,439		$	66.09		7.6		$	138,913
	Exercisable	673,347		$	16.92		6.5		$	93,648
	The aggregate intrinsic value of options is calculated as the difference between the exercise price of the underlying options and the deemed fair value of the Company’s common stock for those shares that had exercise prices lower than the deemed fair value of the Company’s common stock. As of December 31, 2014, the total compensation cost related to non-vested awards not yet recognized is approximately $53.8 million with a weighted average remaining vesting period of 3.05 years. The weighted-average grant date fair value of options granted during the year ended December 2014 is $163.16.
	In April 2014, the Company issued 57,063 performance-based options to certain employees to purchase common stock that will vest upon the achievement of certain regulatory milestones related to OCA at future dates. In November 2014, the Company issued an additional 10,839 performance-based options that will vest upon the achievement of the same regulatory milestones noted above. As of December 31, 2014, the achievement of the milestones was not deemed to be probable and no share-based compensation expense was recognized for these performance-based options.
	The following table summarizes additional information about stock options outstanding:
	31-Dec-14
	Options Outstanding								Options Exercisable
	Exercise Price	Number of Shares		Weighted Average Remaining Life		Aggregate Intrinsic Value (in thousands)			Number of Shares		Weighted Average Remaining Life (years)	Aggregate Intrinsic Value (in thousands)
	$8.00 - $25.00	573,602		6.2		$	56,521		523,473		6.1	$	72,804
	$25.01 - $75.00	505,803		8.0			49,841		149,874		8.0		20,844
	$75.01 - $175.00	158,358		10.0			15,604
	$175.01 - $275.00	107,613		9.3			10,604
	$275.01 - $375.00	75,379		9.1			7,428
	$375.01 - $500.00	15,300		9.1			1,508
		1,436,055				$	141,506		673,347			$	93,648
	The total intrinsic value of options exercised in 2014 was approximately $118.4 million. The total fair value of shares that vested in 2014 was $12.9 million.
	Restricted Stock Units and Awards
	The following table summarizes the aggregate activities in relation to RSU and RSA activity for the years ended December 31, 2013, and 2014:
		Number of Shares		Weighted Average Grant Date Fair Value			Aggregate Intrinsic Value
	Non-vested Shares at December 31, 2013	121,069		$	25.30		$	8,267
	Granted	61,887		$	228.45		$	14,183
	Exercised	-61,502		$	32.36		$	13,648
	Cancelled/forfeited	-2,106		$	221.51		$	495
	Non-vested Shares at December 31, 2014	119,348		$	131.03		$	18,618
	As of December 31, 2014, there was $12.7 million of unrecognized compensation expense related to unvested RSUs and RSAs, which is expected to be recognized over a weighted average of 3.09 years. The weighted average remaining contract life of the non-vested shares as of December 31, 2014 is 8.8 years.
	The following table summarizes additional information about non-vested RSUs and RSAs outstanding:
	Number				Intrinsic Value
	of Shares		Price		(in thousands)
Employees and directors	112,571		$21.50 - $288.21		$	17,561
Consultants	6,777		$21.50 - $266.01			1,057
Outstanding at December 31, 2014	119,348				$	18,618

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Taxes [Abstract]
Income Taxes
	13. Income Taxes
	Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be resolved. The effect of a change in tax rates or laws on deferred tax assets and deferred tax liabilities is recognized in operations in the period that includes the enactment date of the rate change.
	The deferred tax asset or liability represents future tax return consequences of those differences, which will be taxable when the assets and liabilities are recovered or settled. The provision for income taxes may differ from the actual expense that would result from applying the federal statutory rate to income before taxes because certain income for financial reporting purposes is not taxable and certain expenses for financial reporting purposes are not deductible for tax purposes. At December 31, 2013 and December 31, 2014, the Company had available net operating loss carryforwards to reduce future taxable income of approximately $104.7 million and $208.9 million, respectively, for tax reporting purposes. These carryforwards expire between 2024 and 2033. The ability of the Company to utilize its net operating losses in future years is subject to limitation in accordance with provisions of Section 382 of the Internal Revenue Code due to previous ownership changes; however, these changes have not resulted in material limitations to the Company’s ability to utilize the net operating losses. The Company’s combined federal, state and city deferred tax asset of approximately $42.1 million, $60.2 million and $104.7 million at December 31, 2012, 2013 and 2014, respectively, resulted from the tax effects of net operating losses and differences between the book and tax bases for the share-based compensation and depreciation. The Company does not have any deferred tax liabilities. Since the Company has not yet achieved sustained profitable operations, management believes its deferred tax assets do not satisfy the more-likely-than-not realization criteria and has provided an allowance for the full amount of the tax asset. As a result, the Company has not recorded any income tax benefit since its inception.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2014
Commitments [Abstract]
Commitments	14. Commitments
	Facility Leases
	In October 2013, the Company entered into a lease agreement to provide the Company with 11,124 rentable square feet (the Primary Space) in New York City for its corporate headquarters. The rent for the Primary Space (without giving effect to any rent abatements) for the first year was approximately $801,000 and will increase by two percent annually until the end of the fifth lease year, at which point the annual rent will increase to approximately $940,000, and subsequently increase by two percent annually until July 2024, the termination date. In accordance with the terms of the lease agreement, an additional 9,502 rentable square feet (the Additional Space) were added to the Company’s lease in December 2014. The rent for the Additional Space (without giving effect to any rent abatements) for the first year is approximately $684,000 and will increase by two percent annually until the end of the fifth year, at which point the annual rent will increase to approximately $803,000 for the sixth lease year, and subsequently increase by two percent annually until the termination date. Under the terms of the lease, the Company was required to provide the landlord with a letter of credit in an amount equal to approximately $801,000 prior to entering into the lease, and $684,000 on the commencement of the lease for the Additional Space.
	In May 2014, the Company entered into a lease agreement with The Irvine Company LLC for approximately 47,000 square feet in San Diego for office space. The lease term commenced in September 2014 and is scheduled to end in September 2019; however, the Company has an option to further extend the lease for an additional five year term at market rates prevailing at such time. The rent for the first year will be approximately $875,000 without giving effect to rent abatements and the rent will gradually increase every 12 months during the lease term. During the first nine months, the Company receives a partial rent abatement from the landlord. The landlord provided the Company with an allowance of approximately $2.4 million for improvements to the office space. Pursuant to the terms of the San Diego lease, the Company provided the landlord with a letter of credit for $874,000, which will decrease at certain times during the term of the lease.
	Rent expense under operating leases for facilities for the years ended December 31, 2012, 2013 and 2014 was approximately $332,000,  $624,000 and $1.7 million, respectively. As of December 31, 2014, minimum operating lease payments under non-cancelable leases, as amended, are as follows:
	Year Ending December 31,		Amount
			(in thousands)
	2015	$	1,899
	2016		2,276
	2017		2,534
	2018		2,620
	2019		2,384
	Thereafter		8,348
	Total future minimum operating lease payments	$	20,061

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	15. Related Party Transactions
	In connection with the Series C preferred stock financing in August 2012, the Company reimbursed Genextra and OrbiMed Advisors LLC $50,000 and $150,000, respectively, for legal and other transaction-related expenses incurred by such stockholders in connection with the transaction.
	In connection with the October 2013 secondary offering, pursuant to the third amended and restated stockholders agreement, the Company reimbursed the selling stockholders for the expenses related to the offering (other than any underwriting discounts and commissions), including approximately $58,000 for the legal fees of the selling stockholders.
	In connection with the April 2014 secondary offering, pursuant to the third amended and restated stockholders agreement, the Company reimbursed the selling stockholders for the expenses related to the offering (other than any underwriting discounts and commissions), including approximately $70,000 for the legal fees of the selling stockholders.

Net_Loss_Per_Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2014
Net Loss Per Share [Abstract]
Earnings Per Share	16. Net Loss Per Share
	The following table presents the historical computation of basic and diluted net loss per share:
		Years Ended December 31,
		2012			2013		2014
		(in thousands, except share and share amounts)
	Historical net loss per share
	Numerator:
	Net loss attributable to common stockholders	$	-46,274		$	-67,792	$	-283,226
	Denominator:
	Weighted average shares outstanding, basic and diluted		6,283,238			18,028,731		20,784,438
	Net loss per share, basic and diluted	$	-7.36		$	-3.76	$	-13.63
	The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding as of December 31, 2012, 2013 and 2014, as they would have been anti-dilutive:
		December 31,
		2012		2013		2014
		(in thousands)
	Options	1,526		1,525		1,436
	Restricted stock units	176		121		119
	Warrants to purchase common stock	1,162		865		-
	Total	2,864		2,511		1,555

Quarterly_Financial_Data_unaud

Quarterly Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Data [Abstract]
Quarterly Financial Information	17. Quarterly Financial Data (unaudited)
	The following table summarizes the unaudited quarterly financial data for the years ended December 31, 2013 and 2014;
		Quarters Ended
		March 31,		June 30,		September 30,		December 31,		Total
	2013	(in thousands, except for per share amounts)
	Licensing revenue	$	405	$	405	$	405	$	405	$	1,622
	Total costs and expenses		7,229		8,023		11,508		14,313		41,073
	Net loss		-10,210		-13,477		-31,737		-12,368		-67,792
	Net loss per common share - basic and diluted	$	-0.62	$	-0.79	$	-1.65	$	-0.64
	2014
	Licensing revenue	$	405	$	445	$	445	$	445	$	1,742
	Total costs and expenses		19,944		22,874		36,517		35,577		114,912
	Net income (loss)	$	-246,029	$	33,470	$	-35,843	$	-34,824	$	-283,226
	Net income (loss) per common share:
	Basic	$	-12.61	$	1.60	$	-1.69	$	-1.63
	Diluted		-12.61		1.51		-1.69		-1.63

Litigation

Litigation	12 Months Ended
	Dec. 31, 2014
Litigation [Abstract]
Liigation	18. Litigation
	On February 21, 2014 and February 28, 2014, purported shareholder class actions, styled Scot H. Atwood v. Intercept Pharmaceuticals, Inc. et al. and George Burton v. Intercept Pharmaceuticals, Inc. et al., respectively, were filed in the United States District Court for the Southern District of New York, naming the Company and certain of its officers as defendants. These lawsuits were filed by stockholders who claim to be suing on behalf of anyone who purchased or otherwise acquired the Company’s securities between January 9, 2014 and January 10, 2014.
	The lawsuits allege that the Company made material misrepresentations and/or omissions of material fact in its public disclosures during the period from January 9, 2014 to January 10, 2014, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. The alleged improper disclosures relate to the Company’s January 9, 2014 announcement that the FLINT trial had been stopped early based on a pre-defined interim efficacy analysis. Specifically, the lawsuits claim that the January 9, 2014 announcement was misleading because it did not contain information regarding certain lipid abnormalities seen in the FLINT trial in OCA-treated patients compared to placebo. On April 22, 2014, two individuals each moved to consolidate the cases and a lead plaintiff was subsequently appointed by the Court. On June 27, 2014, the lead plaintiff filed an amended complaint on behalf of the putative class as contemplated by the order of the Court. On August 14, 2014, the defendants filed a motion to dismiss the complaint, which has been opposed by the lead plaintiff. Oral arguments on the motion to dismiss were held on February 24, 2015. No decision has been made by the Court on the motion to dismiss. The lead plaintiff seeks unspecified monetary damages on behalf of the putative class and an award of costs and expenses, including attorneys’ fees. Additional complaints may be filed against the Company and its directors and officers related to its disclosures.
	The Company believes that it has valid defenses to the claims in the lawsuit and intends to deny liability and defend itself vigorously. There can be no assurance, however, that the Company will be successful. At this time, no assessment can be made as to the likely outcome of this action or whether the outcome will be material to the Company. Therefore, the Company has not accrued for any loss contingencies related to this lawsuit.
	The Company may become subject to claims and assessments from time to time in the ordinary course of business. Such matters are subject to uncertainties and outcomes are not predictable with assurance. The Company accrues liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. As of December 31, 2012, 2013 and 2014, the Company does not believe that any such matters, individually or in the aggregate, will have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	19. Subsequent Events
	On February 19, 2015, the Company entered into an underlease with Merck Sharp & Dohme Limited for the Company’s new office in the King’s Cross area of London, United Kingdom. The lease will provide the Company with approximately 6,000 rentable square feet in London for office space. The lease term is anticipated to end in June 2019.
	The annual rent is £470,608, payable quarterly. We are also required to pay value added tax (VAT) on the rent. The Company will be responsible for a portion of the insurance, certain service charges and taxes for the building based on the floor area rented by the Company. As security for the underlease, the Company has provided the landlord with a rent deposit in the amount of £705,912, plus applicable VAT. The amount of the deposit may be reduced to £470,608 within 30 days after April 30, 2016 if there are no outstanding payments due and there are no material breaches of the underlease that have not been unremedied in respect of which a drawdown notice has been served and has expired.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Principles of Consolidation
	A. Principles of Consolidation
	The consolidated financial statements include the accounts of Intercept and its subsidiaries, including Intercept Italia S.R.L. and Intercept Pharma Europe LTD. The activities of the subsidiaries is not considered material to these financial statements. All intercompany balances and transactions have been eliminated in consolidation.
Cash and Cash Equivalents	B. Cash and Cash Equivalents
	The Company considers all highly liquid securities with a maturity of three months or less at acquisition to be cash equivalents.
Investment Securities	C. Investment Securities
	Investment securities are considered to be available-for-sale and are carried at fair value. Unrealized gains and losses, if any, are reported in other comprehensive income (loss). The cost of investment securities classified as available-for-sale is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and accretion are included in interest income. Realized gains and losses, and declines in value judged to be other-than-temporary, if any, are also included in other income, net. The cost of securities sold is based on the specific identification method.
Fair Value of Financial Instruments	D. Fair Value of Financial Instruments
	Financial instruments, including cash and cash equivalents, receivables, accounts payable and accrued liabilities are carried at cost which management believes approximates fair value because of the short term maturity of these instruments.
Concentration of Credit Risk	E. Concentration of Credit Risk
	Financial instruments, which potentially subject the Company to concentrations of credit risk, principally consist of cash, cash equivalents and investment securities. The Company currently invests its excess cash primarily in money market funds, U.S. Treasury notes, and high quality, marketable debt instruments of corporations, financial institutions and government sponsored enterprises. The Company has adopted an investment policy that includes guidelines relative to credit quality, diversification and maturities to preserve principal and liquidity.
Fixed Assets	F. Fixed Assets
	Fixed assets are stated at cost, and depreciated over the estimated useful life of the assets. Depreciation is recorded using the straight-line method over the estimated useful lives of three to seven years for equipment and seven years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the asset’s useful life or the life of the lease term. Expenditures for maintenance and repairs are charged to expense as incurred.
Impairment of Long-Lived Assets	G. Impairment of Long-Lived Assets
	Long-lived assets consist of fixed assets. The Company evaluates long-lived assets for impairment when events and circumstances indicate that the carrying amount of an asset or group of assets may not be fully recoverable.
Revenue Recognition	H. Revenue Recognition
	All of the Company’s revenue during the periods covered by these financial statements has been derived from its research and development and licensing collaborations. These agreements include non-refundable up-front fees and the potential for research, development, regulatory and commercial milestone fees, as well as royalties on sales of licensed products, if and when such product sales occur. As of December 31, 2014, the Company has received only up-front fees from its collaborations.
	The Company evaluates all deliverables within an arrangement to determine whether they provide value on a stand-alone basis. Based on this evaluation, the deliverables are separated into units of accounting. The arrangement consideration that is fixed and determinable at the inception of the arrangement is allocated to the separate units of accounting based on relative fair value. The Company may exercise significant judgment in determining whether a deliverable is a separate unit of accounting, as well as in estimating the selling prices of such units of accounting. For each unit of accounting identified within an arrangement, the Company determines the period over which the performance obligation occurs and recognizes the revenue using a straight-line method.
	The Company accounts for the development, regulatory and sales milestones within an arrangement in accordance with the milestone method of revenue recognition. This method allows for the recognition of consideration which is contingent on the achievement of a substantive milestone in its entirety in the period the milestone is achieved. Each future milestone is considered substantive if it (i) relates solely to the past performance of the intellectual property to achieve the milestone; (ii) is reasonable relative to all of the deliverables and payment terms in the arrangement; and (iii) is commensurate with either the Company’s performance or the enhanced value of the intellectual property as a result of a specific outcome resulting from the Company’s performance.
Research and Development Expenses	I. Research and Development Expenses
	Research and development costs that do not have alternative future use are charged to expense as incurred.  This includes the cost of conducting clinical trials, compensation and related overhead for employees and consultants involved in research and development and the cost of the Company’s manufacturing activities to supply ongoing and future clinical trials and preclinical studies as well as preparations for commercialization of OCA.
Stock-based Compensation
	J. Stock-based Compensation
	The Company estimates the fair value of stock options using the Black-Scholes option pricing model on the date of the grant. Restricted stock units and restricted stock awards are valued based on the closing price of the Company’s common stock on the date of the grant. The fair value of equity instruments expected to vest are recognized and amortized on a straight-line basis over the requisite service period of the award. Generally stock options fully vest four years from the grant date and have a term of ten years. The Company recognizes stock-based compensation for consultants on a mark–to-market basis which is updated on a quarterly basis.
Warrants to Purchase Common Stock	K. Warrants to Purchase Common Stock
	In conjunction with various financing transactions, the Company issued warrants to purchase the Company’s common stock. Certain of the warrants included a so-called “down round” provision that provided for a reduction in the warrant exercise price if there were subsequent issuances of additional shares of common stock for consideration per share less than the per share warrant exercise prices and certain warrants contained a provision that required the underlying shares to be registered upon an initial public offering (IPO). These warrants were deemed to be derivative instruments and as such, were recorded as a liability and were marked-to-market at each reporting period using the Black-Scholes option pricing model. The Company estimated the fair values of the warrants at each reporting period using a Black-Scholes option-pricing model that used the inputs detailed in note 9 and the contractual terms of the warrants. Management concluded, under the Company’s facts and circumstances, that the estimated fair values of the warrants using the Black-Scholes option-pricing model approximates, in all material respects, the values determined using a binomial valuation model. The estimates in the Black-Scholes option-pricing model and the binomial valuation model are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk free interest rate and the fair value of the common stock underlying the warrants. Changes in the fair value of the common stock warrant liability from the prior period were recorded as a component of other income and expense.
Net Income (Loss) Per Share	L. Net Income (Loss) Per Share
	Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted net income (loss) per share gives effect to all dilutive potential common shares outstanding during the period including stock options, restricted stock units (RSUs) and restricted stock awards (RSAs) and warrants using the treasury stock method.
Income Taxes	M. Income Taxes
	The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect for years in which the temporary differences are expected to reverse. The Company establishes a valuation allowance when it believes it is more likely than not deferred tax assets will not be realized.
	The Company determines the need for a valuation allowance by assessing the probability of realizing deferred tax assets, taking into consideration all available positive and negative evidence, including historical operating results, expectations of future taxable income, carryforward periods available to the Company for tax reporting purposes, various income tax strategies and other relevant factors. Significant judgment is required in making this assessment and to the extent future expectations change, the Company would have to assess the recoverability of its deferred assets at that time. At December 31, 2013 and 2014, the Company maintained a full valuation allowance on its deferred tax assets.
	At any one time the Company’s tax returns for numerous tax years are subject to examination by U.S., federal, state and foreign taxing jurisdictions. The impact of an uncertain tax position taken or expected to be taken on an income tax return must be recognized in the financial statements at the largest amount that is more likely than not to be sustained. An uncertain income tax position will not be recognized in the financial statements unless it is more likely than not to be sustained.
Segments	N. Segments
	The Company operates in one segment. The Company is a biopharmaceutical company focused on discovering, developing and commercializing treatments for chronic liver and intestinal diseases utilizing its proprietary bile acid chemistry.
Recent Accounting Pronouncements	O. Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” which requires entities to recognize revenue in the way it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most of the existing revenue recognition requirements in the U.S. GAAP when it becomes effective. This pronouncement is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and is to be applied retrospectively, with early application not permitted. The Company is currently evaluating the effect that this pronouncement will have on its financial statements and related disclosures.
	In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, Development Stage Entities (Topic 915) – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation which eliminates the concept of a development stage entity (DSE) in its entirety from current accounting guidance. Previous reporting requirements for a DSE, including inception-to-date information, will no longer apply. For public business entities, the amendments to ASU 2014-10 are effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). The Company has elected to early adopt this ASU.

Investments_Tables

Investments (Tables)	12 Months Ended
	Dec. 31, 2014
Investments [Abstract]
Schedule of Available-for-sale Securities Reconciliation	The following table summarizes the Company’s cash, cash equivalents and investments as of December 31, 2013 and December 31, 2014:
		As of December 31, 2013
					Gross				Gross
		Amortized Cost			Unrealized				Unrealized			Fair Value
					Gains				Losses
		(in thousands)
	Cash and cash equivalents:
	Cash and money market funds	$	13,363		$	-			$	-		$	13,363
	Investment securities:
	Commercial paper		7,993			1				-			7,994
	Corporate debt securities		115,704			115				-59			115,760
	Municipal securities		1,051			1				-			1,052
	U.S. government and agency securities		6,657			6				-			6,663
	Total investments		131,405			123				-59			131,469
	Total cash, cash equivalents and investments	$	144,768		$	123			$	-59		$	144,832
		As of December 31, 2014
					Gross				Gross
		Amortized Cost			Unrealized				Unrealized			Fair Value
					Gains				Losses
		(in thousands)
	Cash and cash equivalents:
	Cash and money market funds	$	20,023		$	-			$	-		$	20,023
	Investment securities:
	Commercial paper		7,995			-				-1			7,994
	Corporate debt securities		203,988			19				-282			203,725
	U.S. government and agency securities		7,998			-				-16			7,982
	Total investments		219,981			19				-299			219,701
	Total cash, cash equivalents and investments	$	240,004		$	19			$	-299		$	239,724
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	The following table shows the gross unrealized losses and fair value of the Company’s available-for-sale investments aggregated by investment category and length of time that individual securities have been in the position:
		As of December 31, 2013
		Less than 12 months						12 Months or greater				Total
								(in thousands)
		Fair Value		Gross Unrealized Losses			Fair Value			Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	Corporate debt securities	$	9,515	$	-2		$	31,312		$	-57	$	40,827	$	-59
	Total	$	9,515	$	-2		$	31,312		$	-57	$	40,827	$	-59
		As of December 31, 2014
		Less than 12 months						12 Months or greater				Total
								(in thousands)
		Fair Value		Gross Unrealized Losses			Fair Value			Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	Corporate debt securities	$	86,221	$	-63		$	81,561		$	-219	$	167,782	$	-282
	Commercial paper		4,994		-1			-			-		4,994		-1
	U.S. government and agency securities		-		-			4,481			-16		4,481		-16
	Total	$	91,215	$	-64		$	86,042		$	-235	$	177,257	$	-299

Prepaid_Expenses_and_Other_Cur1

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Prepaid Expenses and Other Current Assets [Abstract]
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure	Prepaid expenses and other current assets consisted of the following:
		December 31,
		2013		2014
		(in thousands)
	Prepaid expenses	$	1,277	$	3,547
	Interest receivable		834		1,455
	Contract receivable		506		1,091
	Certificates of deposit		78		-
	Refundable tax credits		38		11

Fixed_Assets_Net_Tables

Fixed Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2014
Fixed Assets, Net [Abstract]
Property, Plant and Equipment	Fixed assets are stated at cost and depreciated or amortized using the straight-line method based on useful lives as follows:
		Useful lives	December 31,
		(Years)	2013		2014
			(in thousands)
	Office equipment and software	3	$	364	$	799
	Leasehold improvements	Over life of lease		1,156		3,321
	Furniture and fixtures	7		445		2,410
	Subtotal			1,965		6,530
	Less: accumulated depreciation and amortization			-293		-679
	Fixed assets, net		$	1,672	$	5,851

Accounts_Payable_Accrued_Expen1

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2014
Accounts Payable, Accrued Expenses and Other Liabilities [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	Accrued expenses and other liabilities consisted of the following:
		December 31,
		2013		2014
		(in thousands)
	Accounts payable	$	3,196	$	3,129
	Accrued employee compensation		2,158		3,985
	Accrued contracted services and other		1,906		6,345
	Accounts payable, accrued expenses and other liabilities	$	7,260	$	13,459

Warrants_to_Purchase_Common_St1

Warrants to Purchase Common Stock (Tables)	12 Months Ended
	Dec. 31, 2014
Warrants to Purchase Common Stock [Abstract]
Warrants to Purchase Common Stock	The Company’s activity related to warrants to purchase shares of common stock of the Company is noted in the table below.
		Warrants to Purchase Common Stock		Weighted Average Exercise Price
	Warrants issued and outstanding as of December 31, 2012	1,161,965		$	9.43
	Warrants exercised in 2013	-287,709			6.62
	Warrants expired in 2013	-8,875			5.77
	Warrants issued and outstanding as of December 31, 2013	865,381		$	10.40
	Warrants exercised in 2014	-865,381
	Warrants expired in 2014	-
	Warrants issued and outstanding as of December 31, 2014	-		$	-
Fair Value of Warrants
			December 31,
			2012				2013
	Stock price		$		34.24		$	68.28
	Expected dividend yield				—	%		—	%
	Expected term (in years)				1.72			1.07
	Risk free interest rate				0.22	%		0.15	%
	Expected volatility				84.01	%		57.26	%

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value Measurements [Abstract]
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis	Financial assets and liabilities, carried at fair value are classified in the tables below in one of the three categories described above:
				Fair Value Measurements Using
		Total				Quoted Prices in Active Markets for Identical Assets or Liabilities      (Level 1)		Significant Other Observable Inputs       (Level 2)		Significant Unobservable Inputs        (Level 3)
		(in thousands)
	31-Dec-13
	Assets:
	Money market funds	$	8,216			$	8,216	$	-	$	-
	Available for sale securities:										-
	Commercial paper		7,994				-		7,994	$	-
	Corporate debt securities		115,760				-		115,760		-
	U.S. government and agency securities		6,663				-		6,663		-
	Municipal securities		1,052				-		1,052		-
	Total financial assets:	$	139,685			$	8,216	$	131,469	$	-
	Liabilities:
	Warrants to purchase common stock	$	-50,112			$	-	$	-	$	-50,112
	Total financial liabilities	$	-50,112			$	-	$	-	$	-50,112
	31-Dec-14
	Assets:
	Money market funds	$	21,284			$	21,284	$	-	$	-
	Available for sale securities:
	Commercial paper		7,994				-		7,994		-
	Corporate debt securities		203,725				-		203,725		-
	U.S. government and agency securities		7,982				-		7,982		-
	Total financial assets:	$	240,985			$	21,284	$	219,701	$	-
Schedule of Available For Sale Securities Debt Maturities
	The estimated fair value of marketable debt securities (commercial paper, corporate debt securities, U.S. government and agency securities, and municipal securities) as of December 31, 2013 and 2014, respectively, by contractual maturity, are as follows:
		Fair Value as of December 31,
		2013			2014
		(in thousands)
	Due in one year or less	$	56,044		$	130,159
	Due after one year through 2 years		75,425			89,542
	Total investments in debt securities	$	131,469		$	219,701

Stock_Compensation_Tables

Stock Compensation (Tables)	12 Months Ended
	Dec. 31, 2014
Stock Compensation [Abstract]
Schedule of Stock Based Compensation Expense	Stock-based compensation expense for the years ended December 31, 2012, 2013 and 2014 includes compensation expense for employee, director and consultant stock option grants and restricted stock grants as follows:
		Years Ended December 31,
		2012			2013			2014
		(in thousands)
	Stock options expense:
	Employees and directors	$	2,162		$	5,173		$	12,148
	Consultants		822			2,275			3,700
			2,984			7,448			15,848
	Restricted stock expense (RSUs and RSAs):
	Employees and directors		307			1,646			3,102
	Consultants		58			352			1,177
			365			1,998			4,279
	Total	$	3,349		$	9,446		$	20,127
Schedule of Share Based Compensation Arrangement By Share Based Payment Award Grants in Period Fair Value Assumptions	The Company estimated the fair value of stock options granted in the periods presented using a Black-Scholes option-pricing model utilizing the following assumptions:
		Years Ended December 31,
		2012		2013		2014
	Volatility	107 - 115%		95 - 115%		70 - 150%
	Expected term (in years)	5.0 - 6.0		5.3 - 6.1		4.0 - 7.0
	Risk-free rate	0.7 - 0.8%		0.9 - 3.0%		1.3 - 2.7%
	Expected dividend yield	— %		— %		—  %
Schedule of Share Based Compensation Stock Options Activities
	The Company’s combined outstanding employee and non-employee option activity for the period from December 31, 2013 through December 31, 2014 is summarized as follows:
							Weighted
							Average
				Weighted			Remaining		Aggregate
		Number		Average			Contractual		Intrinsic Value
		of Shares		Exercise Price			Term (years)		(in thousands)
	Outstanding at December 31, 2013	1,524,837		$					$	71,608
	Granted	393,769		$	215.53				$	9,148
	Exercised	-469,224		$	16.20				$	118,354
	Cancelled/forfeited	-11,435		$	77.62				$	2,090
	Expired	-1,892		$	9.56				$	277
	Outstanding at December 31, 2014	1,436,055		$	75.81		7.7		$	141,506
	Expected to vest	1,332,439		$	66.09		7.6		$	138,913
	Exercisable	673,347		$	16.92		6.5		$	93,648
Schedule of Share-based Compensation, Stock Options, Activity
	The following table summarizes additional information about stock options outstanding:
	31-Dec-14
	Options Outstanding								Options Exercisable
	Exercise Price	Number of Shares		Weighted Average Remaining Life		Aggregate Intrinsic Value (in thousands)			Number of Shares		Weighted Average Remaining Life (years)	Aggregate Intrinsic Value (in thousands)
	$8.00 - $25.00	573,602		6.2		$	56,521		523,473		6.1	$	72,804
	$25.01 - $75.00	505,803		8.0			49,841		149,874		8.0		20,844
	$75.01 - $175.00	158,358		10.0			15,604
	$175.01 - $275.00	107,613		9.3			10,604
	$275.01 - $375.00	75,379		9.1			7,428
	$375.01 - $500.00	15,300		9.1			1,508
		1,436,055				$	141,506		673,347			$	93,648
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	The following table summarizes the aggregate activities in relation to RSU and RSA activity for the years ended December 31, 2013, and 2014:
		Number of Shares		Weighted Average Grant Date Fair Value			Aggregate Intrinsic Value
	Non-vested Shares at December 31, 2013	121,069		$	25.30		$	8,267
	Granted	61,887		$	228.45		$	14,183
	Exercised	-61,502		$	32.36		$	13,648
	Cancelled/forfeited	-2,106		$	221.51		$	495
	Non-vested Shares at December 31, 2014	119,348		$	131.03		$	18,618
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes additional information about non-vested RSUs and RSAs outstanding:
		Number				Intrinsic Value
		of Shares		Price		(in thousands)
	Employees and directors	112,571		$21.50 - $288.21		$	17,561
	Consultants	6,777		$21.50 - $266.01			1,057
	Outstanding at December 31, 2014	119,348				$	18,618

Commitments_Tables

Commitments (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	As of December 31, 2014, minimum operating lease payments under non-cancelable leases, as amended, are as follows:
	Year Ending December 31,		Amount
			(in thousands)
	2015	$	1,899
	2016		2,276
	2017		2,534
	2018		2,620
	2019		2,384
	Thereafter		8,348
	Total future minimum operating lease payments	$	20,061

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2014
Net Loss Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table presents the historical computation of basic and diluted net loss per share:
		Years Ended December 31,
		2012			2013		2014
		(in thousands, except share and share amounts)
	Historical net loss per share
	Numerator:
	Net loss attributable to common stockholders	$	-46,274		$	-67,792	$	-283,226
	Denominator:
	Weighted average shares outstanding, basic and diluted		6,283,238			18,028,731		20,784,438
	Net loss per share, basic and diluted	$	-7.36		$	-3.76	$	-13.63
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding as of December 31, 2012, 2013 and 2014, as they would have been anti-dilutive:
		December 31,
		2012		2013		2014
		(in thousands)
	Options	1,526		1,525		1,436
	Restricted stock units	176		121		119
	Warrants to purchase common stock	1,162		865		-
	Total	2,864		2,511		1,555

Nature_of_Business_Narrative_D

Nature of Business (Narrative) (Details)	0 Months Ended	12 Months Ended
	Sep. 26, 2012	Dec. 31, 2014
Overview of Business [Abstract]
Stockholders' equity, reverse stock split		one-for-5.7778 reverse stock split
Stockholders' equity note, stock split, conversion ratio	5.7778

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	segment
Property, plant and equipment, depreciation methods	straight-line method
Fair value assumption method used	Black-Scholes option-pricing	Black-Scholes option-pricing	Black-Scholes option-pricing
Number of operating segments	1
Furniture and Fixtures [Member]
Property, plant and equipment, useful life	7 years
Leasehold Improvements [Member]
Property, plant and equipment, depreciation methods	amortized over the shorter of the asset's useful life or the life of the lease term
Restricted Stock [Member]
Requisite service period	4 years
Expected term (in years)	10 years
Minimum [Member] | Equipment [Member]
Property, plant and equipment, useful life	3 years
Maximum [Member] | Equipment [Member]
Property, plant and equipment, useful life	7 years

Significant_Agreements_Narrati

Significant Agreements (Narrative) (Details) (Nonsoftware License Arrangement [Member], Dainippon Sumitomo Pharma Co Ltd [Member], USD $)	0 Months Ended	12 Months Ended			1 Months Ended
In Millions, unless otherwise specified	Mar. 02, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2011	31-May-11
Development milestone reached	$1
License arrangement, deferred revenue, recognized		1.7	1.6	1.6
Up-front Payment [Member]
License agreement payment					15
Additional Development Receivable [Member]
Contingent arrangement receivable amount					30
Additional Regulatory Approval Receivable [Member]
Contingent arrangement receivable amount					70
Additional Sales Receivable [Member]
Contingent arrangement receivable amount					200
Additional Sales Receivable [Member] | Criteria One [Member]
Contingent arrangement receivable amount					5
License arrangement, milestone benchmark					50
Additional Sales Receivable [Member] | Criteria Two [Member]
Contingent arrangement receivable amount					10
License arrangement, milestone benchmark					100
Additional Sales Receivable [Member] | Criteria Three [Member]
Contingent arrangement receivable amount					20
License arrangement, milestone benchmark					200
Additional Sales Receivable [Member] | Criteria Four [Member]
Contingent arrangement receivable amount					40
License arrangement, milestone benchmark					400
Additional Sales Receivable [Member] | Criteria Five [Member]
Contingent arrangement receivable amount					120
License arrangement, milestone benchmark					1,200
Japan [Member] | Additional Regulatory Approval Receivable [Member]
Contingent arrangement receivable amount					15
China [Member] | Additional Regulatory Approval Receivable [Member]
Contingent arrangement receivable amount					10
United States [Member] | Additional Regulatory Approval Receivable [Member]
Contingent arrangement receivable amount					5
Korea [Member] | Up-front Payment [Member]
License agreement payment						$1

Investments_Schedule_of_Availa

Investments (Schedule of Available-for-sale Securities Reconciliation) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash and cash equivalents:
Cash and cash equivalents, Amortized Cost	$20,023	$13,363
Cash and cash equivalents, Fair Value	20,023	13,363
Investments:
Total investments, Amortized Cost	219,981	131,405
Total cash and cash equivalents and investments, Amortized Cost	240,004	144,768
Total investments, Gross Unrealized Gains	19	123
Total cash and cash equivalents and investments, Gross Unrealized Gains	19	123
Total investments, Gross Unrealized Losses	-299	-59
Total cash and cash equivalents and investments, Gross Unrealized Losses	-299	-59
Total investments, Fair Value	219,701	131,469
Total cash and cash equivalents and investments, Fair Value	239,724	144,832
Corporate Debt Securities [Member]
Investments:
Total investments, Amortized Cost	203,988	115,704
Total investments, Gross Unrealized Gains	19	115
Total investments, Gross Unrealized Losses	-282	-59
Total investments, Fair Value	203,725	115,760
Commercial Paper [Member]
Investments:
Total investments, Amortized Cost	7,995	7,993
Total investments, Gross Unrealized Gains		1
Total investments, Gross Unrealized Losses	-1
Total investments, Fair Value	7,994	7,994
Municipal Securities [Member]
Investments:
Total investments, Amortized Cost		1,051
Total investments, Gross Unrealized Gains		1
Total investments, Fair Value		1,052
US Government Agencies Debt Securities [Member]
Investments:
Total investments, Amortized Cost	7,998	6,657
Total investments, Gross Unrealized Gains		6
Total investments, Gross Unrealized Losses	-16
Total investments, Fair Value	$7,982	$6,663

Investments_Availableforsale_S

Investments (Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Total available for sale securities, Less than 12 months, Fair Value	$91,215	$9,515
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	-64	-2
Total available for sale securities, More than 12 months, Fair Value	86,042	31,312
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses	-235	-57
Available-for-sale securities, Total Fair Value	177,257	40,827
Available-for-sale securities, Total Gross Unrealized Losses	-299	-59
Commercial Paper [Member]
Total available for sale securities, Less than 12 months, Fair Value	4,994
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	-1
Available-for-sale securities, Total Fair Value	4,994
Available-for-sale securities, Total Gross Unrealized Losses	-1
Corporate Debt Securities [Member]
Total available for sale securities, Less than 12 months, Fair Value	86,221	9,515
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	-63	-2
Total available for sale securities, More than 12 months, Fair Value	81,561	31,312
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses	-219	-57
Available-for-sale securities, Total Fair Value	167,782	40,827
Available-for-sale securities, Total Gross Unrealized Losses	-282	-59
US Government Agencies Debt Securities [Member]
Total available for sale securities, More than 12 months, Fair Value	4,481
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses	-16
Available-for-sale securities, Total Fair Value	4,481
Available-for-sale securities, Total Gross Unrealized Losses	($16)

Prepaid_Expenses_and_Other_Cur2

Prepaid Expenses and Other Current Assets (Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Prepaid Expenses and Other Current Assets [Abstract]
Prepaid expenses	$3,547,000	$1,277,000
Interest receivable	1,455,000	834,000
Contract receivable	1,091,000	506,000
Certificates of deposit		78,000
Refundable tax credits	11,000	38,000
Prepaid expenses and other current assets	$6,104,017	$2,732,556

Fixed_Assets_Net_Narrative_Det

Fixed Assets, Net (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Fixed Assets, Net [Abstract]
Depreciation and amortization	$443,000	$106,000	$201,000

Fixed_Assets_Net_Fixed_Assets_

Fixed Assets, Net (Fixed Assets Stated at Cost) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fixed assets	$6,530,000	$1,965,000
Less: accumulated depreciation and amortization	-679,000	-293,000
Fixed assets, net	5,851,756	1,672,295
Office Equipment and Software [Member]
Fixed assets	799,000	364,000
Property, plant and equipment, useful life	3 years
Leasehold Improvements [Member]
Fixed assets	3,321,000	1,156,000
Property, plant and equipment, estimated useful lives	Over life of lease
Furniture and Fixtures [Member]
Fixed assets	$2,410,000	$445,000
Property, plant and equipment, useful life	7 years

Accounts_Payable_Accrued_Expen2

Accounts Payable, Accrued Expenses and Other Liabilities (Schedule of Accounts Payable and Accrued Liabilities) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Accounts Payable, Accrued Expenses and Other Liabilities [Abstract]
Accounts payable	$3,129,000	$3,196,000
Accrued employee compensation	3,985,000	2,158,000
Accrued contracted services and other	6,345,000	1,906,000
Accounts payable, accrued expenses and other liabilities	$13,459,489	$7,259,805

Warrants_to_Purchase_Common_St2

Warrants to Purchase Common Stock (Warrants to Purchase Common Stock) (Details)	0 Months Ended	12 Months Ended
	Apr. 10, 2014	Dec. 31, 2014	Dec. 31, 2013
Warrants to Purchase Common Stock [Abstract]
Warrants issued and outstanding, beginning		865,381	1,161,965
Warrants exercised		-865,381	-287,709
Warrants expired			-8,875
Warrants issued and outstanding, ending			865,381
Warrants issued and outstanding, beginning, exercise price		10.4	9.43
Warrants exercised weighted average exercise price			6.62
Warrants expired weighted average exercise price			5.77
Warrants issued and outstanding, ending, exercise price			10.4
Conversion of stock, shares converted	865,381
Conversion of stock, shares issued	834,758

Warrants_to_Purchase_Common_St3

Warrants to Purchase Common Stock (Fair Value of Warrants) (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Warrants to Purchase Common Stock [Abstract]
Stock price	$68.28	$34.24
Expected dividend (yield)
Expected term (in years)	1 year 26 days	1 year 8 months 19 days
Risk free interest rate	0.15%	0.22%
Expected volatility	57.26%	84.01%

Fair_Value_Measurements_Fair_V

Fair Value Measurements (Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:
Money market funds	$21,284	$8,216
Liabilities:
Warrants to purchase common stock		-50,112
Total liabilities		-50,112
Available for sale securities:
Commercial paper	7,994	7,994
Corporate debt securities	203,725	115,760
U.S. government and agency securities	7,982	6,663
Municipal securities		1,052
Total assets:	240,985	139,685
Fair Value, Inputs, Level 1 [Member]
Assets:
Money market funds	21,284	8,216
Available for sale securities:
Total assets:	21,284	8,216
Fair Value, Inputs, Level 2 [Member]
Available for sale securities:
Commercial paper	7,994	7,994
Corporate debt securities	203,725	115,760
U.S. government and agency securities	7,982	6,663
Municipal securities		1,052
Total assets:	219,701	131,469
Fair Value, Inputs, Level 3 [Member]
Liabilities:
Warrants to purchase common stock		-50,112
Total liabilities		($50,112)

Fair_Value_Measurements_Schedu

Fair Value Measurements (Schedule of Available For Sale Securities Debt Maturities) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value Measurements [Abstract]
Due in one year or less	$130,159	$56,044
Due after one year through 2 years	89,542	75,425
Total investments in debt securities	$219,701	$131,469

Stockholders_Equity_and_Prefer1

Stockholders' Equity and Preferred Stock (Details) (USD $)	1 Months Ended			12 Months Ended			1 Months Ended
	Apr. 30, 2014	Jun. 30, 2013	Oct. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2015
Stock issued during period, shares, new issues	1,000,000	1,989,500	5,750,000
Shares issued, price per share	$320	$33.01	$15
Proceeds from issuance initial public offering			$78,700,000
Convertible preferred stock, shares issued upon conversion			7,403,817
Common stock, authorized				35,000,000	25,000,000
Common stock, par value (in dollars per share)				$0.00	$0.00
Preferred stock, authorized				5,000,000
Preferred stock, par value (in dollars per share)				$0.00
Proceeds from issuance of common stock	183,500,000	61,200,000		183,475,222	61,169,337	108,499,996
Subsequent Event [Member]
Stock issued during period, shares, new issues							1,150,000
Shares issued, price per share							$176
Proceeds from issuance of common stock							$191,200,000
Selling Stockholders [Member]
Stock issued during period, shares, new issues	400,000
Intercept Pharmaceuticals Incorporated [Member]
Stock issued during period, shares, new issues	600,000

Stock_Compensation_Narrative_D

Stock Compensation (Narrative) (Details) (USD $)	12 Months Ended			0 Months Ended		1 Months Ended	0 Months Ended	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 02, 2014	Jan. 02, 2013	Oct. 31, 2012	Jan. 02, 2015	Nov. 30, 2014	Apr. 30, 2014
Fair value assumption method used	Black-Scholes option-pricing	Black-Scholes option-pricing	Black-Scholes option-pricing
Granted - Number of Shares	393,769
Weighted-average grant date fair value	$163.16
Exercised - Aggregate Intrinsic Value	$118,354,000
2003 Stock Incentive Plant [Member]
Fair value assumption method used		Black-Scholes option-pricing model
2012 Stock Plan [Member]
Additional shares available, increase				775,584	661,075	555,843
Fair value assumption method used		Black-Scholes option-pricing model
Shares available for grant	745,275	409,914
2012 Stock Plan [Member] | Subsequent Event [Member]
Additional shares available, increase							856,609
Employees and Directors [Member]
Granted - Number of Shares	452,424	584,550	213,991
Consultants [Member]
Granted - Number of Shares	3,232	23,250	16,441
Stock Options [Member]
Share-based compensation not yet recognized	53,800,000
Share-based compensation not yet recognized, period	3 years 18 days
Exercised - Aggregate Intrinsic Value	118,400,000
Vested - aggregate fair value	12,900,000
Restricted Stock [Member]
Share-based comensation not yet recognized, other than options	12,700,000
Weighted average remaining contractual life	8 years 9 months 18 days
Share-based compensation not yet recognized, period	3 years 1 month 2 days
Performance Shares [Member] | Employees and Directors [Member]
Share-based comensation not yet recognized, other than options	$0
Stock issued during period, shares, share-based compensation, gross								10,839	57,063

Stock_Compensation_Schedule_of

Stock Compensation (Schedule of Stock Based Compensation Expense) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$20,126,794	$9,446,095	$3,348,989
Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	15,848,000	7,448,000	2,984,000
Restricted Stock [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	4,279,000	1,998,000	365,000
Employees and Directors [Member] | Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	12,148,000	5,173,000	2,162,000
Employees and Directors [Member] | Restricted Stock [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	3,102,000	1,646,000	307,000
Consultants [Member] | Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	3,700,000	2,275,000	822,000
Consultants [Member] | Restricted Stock [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	$1,177,000	$352,000	$58,000

Stock_Compensation_Schedule_of1

Stock Compensation (Schedule of Share Based Compensation Arrangement By Share Based Payment Award Grants in Period Fair Value Assumptions) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value assumption method used	Black-Scholes option-pricing	Black-Scholes option-pricing	Black-Scholes option-pricing
Expected dividend yield
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility, minimum	70.00%	95.00%	107.00%
Volatility, maximum	150.00%	115.00%	115.00%
Risk-free interest rate, minimum	1.30%	0.90%	0.70%
Risk-free interest rate, maximum	2.70%	3.00%	0.80%
Stock Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	4 years	5 years 3 months 18 days	5 years
Stock Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	7 years	6 years 1 month 6 days	6 years

Stock_Compensation_Schedule_of2

Stock Compensation (Schedule of Share Based Compensation Stock Options Activities) (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2012
Stock Compensation [Abstract]
Outstanding, Number of Shares	1,524,837	1,526,000
Granted - Number of Shares	393,769
Exercised - Number of Shares	-469,224
Cancelled/forfeited - Number of Shares	-11,435
Expired - Number of Shares	-1,892
Outstanding, Number of Shares	1,436,055	1,526,000
Expected to vest - Number of shares	1,332,439
Exercisable - Number of Shares	673,347
Granted - Weighted Average Exercise Price	$215.53
Exercised - Weighted Average Exercise Price	$16.20
Cancelled/forfeited - Weighted Average Exercise Price	$77.62
Exipired - Weighted Average Exercise Price	$9.56
Outstanding - Ending Balance - Weighted Average Exercise Price	$75.81
Expected to vest - Weighted Average Exercise Price	$66.09
Exercisable - Weighted Average Exercise Price	$16.92
Expected to vest - Weighted Average Remaining Term	7 years 7 months 6 days
Exercisable - Weighted Average Remaining Term	6 years 6 months
Outstanding - Beginning Balance - Aggregate Intrinsic Value	$71,608
Granted - Aggregate Intrinsic Value	9,148
Exercised - Aggregate Intrinsic Value	118,354
Cancelled/forfeited - Aggregate Intrinsic Value	2,090
Expired - Aggregate Intrinsic Value	277
Outstanding - Ending Balance - Aggregate Intrinsic Value	141,506
Expected to vest - Aggregate Intrinsic Value	138,913
Exercisable - Aggregate Intrinsic Value	$93,648
Options Outstanding - Weighted Average Remaining Life	7 years 8 months 12 days

Stock_Compensation_Schedule_of3

Stock Compensation (Schedule of Share-based Compensation, Stock Options, Activity) (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding - Number of Shares	1,436,055	1,524,837	1,526,000
Options Outstanding - Weighted Average Remaining Life	7 years 8 months 12 days
Options Outstanding - Aggregate Intrinsic Value	$141,506	$71,608
Exercisable - Number of Shares	673,347
Exercisable - Weighted Average Remaining Term	6 years 6 months
Exercisable - Aggregate Intrinsic Value	93,648
$8.00 - $25.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, minimum	$8
Exercise Price, maximum	$25
Options Outstanding - Number of Shares	573,602
Options Outstanding - Weighted Average Remaining Life	6 years 2 months 12 days
Options Outstanding - Aggregate Intrinsic Value	56,521
Exercisable - Number of Shares	523,473
Exercisable - Weighted Average Remaining Term	6 years 1 month 6 days
Exercisable - Aggregate Intrinsic Value	72,804
$25.01 - $75.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, minimum	$25.01
Exercise Price, maximum	$75
Options Outstanding - Number of Shares	505,803
Options Outstanding - Weighted Average Remaining Life	8 years
Options Outstanding - Aggregate Intrinsic Value	49,841
Exercisable - Number of Shares	149,874
Exercisable - Weighted Average Remaining Term	8 years
Exercisable - Aggregate Intrinsic Value	20,844
$75.01 - $175.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, minimum	$75.01
Exercise Price, maximum	$175
Options Outstanding - Number of Shares	158,358
Options Outstanding - Weighted Average Remaining Life	10 years
Options Outstanding - Aggregate Intrinsic Value	15,604
$175.01 - $275.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, minimum	$175
Exercise Price, maximum	$275
Options Outstanding - Number of Shares	107,613
Options Outstanding - Weighted Average Remaining Life	9 years 10 months 24 days
Options Outstanding - Aggregate Intrinsic Value	10,604
$275.01 - $375.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, minimum	$275
Exercise Price, maximum	$375
Options Outstanding - Number of Shares	75,379
Options Outstanding - Weighted Average Remaining Life	9 years 2 months 12 days
Options Outstanding - Aggregate Intrinsic Value	7,428
$375.01 - $500.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, minimum	$375
Exercise Price, maximum	$500
Options Outstanding - Number of Shares	15,300
Options Outstanding - Weighted Average Remaining Life	9 years 1 month 6 days
Options Outstanding - Aggregate Intrinsic Value	$1,508

Stock_Compensation_Schedule_of4

Stock Compensation (Schedule of Share-based Compensation, Restricted Stock Units Award Activity) (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014
Stock Compensation [Abstract]
Non-vested Shares, Beginning Balance	121,069
Granted - Shares	61,887
Exercised - Shares	-61,502
Cancelled/forfeited - Shares	-2,106
Non-vested Shares, Ending Balance	119,348
Non-vested - Weighted Average Grant Date Fair Value, Beginning Balance	$25.30
Granted - Weighted Average Grant Date Fair Value	$228.45
Exercised - Weighted Average Grant Date Fair Value	$32.36
Cancelled/forfeited - Weighted Average Grant Date Fair Value	$221.51
Non-vested - Weighted Average Grant Date Fair Value, Ending Balance	$131.03
Non-vested - Aggregate Intrinsic Value, Beginning Balance	$8,267
Granted - Aggregate Intrinsic Value,	14,183
Exercised - Aggregate Intrinsic Value,	13,648
Cancelled/forfeited - Aggregate Intrinsic Value	495
Non-vested - Aggregate Intrinsic Value, Ending Balance	$18,618

Stock_Compensation_Schedule_of5

Stock Compensation (Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Number of Shares, Outstanding	119,348	121,069
Issue price	$131	$25.30
Intrinsic Value, Outstanding	$18,618	$8,267
Employees and Directors [Member]
Number of Shares, Outstanding	112,571
Intrinsic Value, Outstanding	17,561
Consultants [Member]
Number of Shares, Outstanding	6,777
Intrinsic Value, Outstanding	$1,057
Minimum [Member] | Employees and Directors [Member]
Issue price	$21.50
Minimum [Member] | Consultants [Member]
Issue price	$21.50
Maximum [Member] | Employees and Directors [Member]
Issue price	$288
Maximum [Member] | Consultants [Member]
Issue price	$266

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating loss carryforwards	208.9	$104.70
Deferred tax assets, net	104.7	$60.20	$42.10
Minimum [Member]
Operating loss carryforwards, expiration dates	31-Dec-24
Maximum [Member]
Operating loss carryforwards, expiration dates	31-Dec-33

Commitments_Narrative_Details

Commitments (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 31, 2013
				sqft
Rent expense	$1,899,000
2018 rent expense	2,384,000
Operating leases, rent expense	1,700,000	624,000	332,000
New York [Member] | Primary Space [Member]
Area of real estate property				11,124
Rent expense	801,000
Rent increase, percentage, per year	2.00%
2018 rent expense	940,000
New York [Member] | Primary Space [Member] | Letter of Credit [Member]
Short-term debt	801,000
New York [Member] | Additional Space [Member]
Area of real estate property	9,502
Rent expense	684,000
Rent increase, percentage, per year	2.00%
2018 rent expense	803,000
New York [Member] | Additional Space [Member] | Letter of Credit [Member]
Short-term debt	684,000
California [Member]
Area of real estate property	47,000
Rent expense	875,000
Short-term debt	874,000
Incentive from Lessor	$2,400,000

Commitments_Schedule_of_Future

Commitments (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Commitments [Abstract]
2015	$1,899
2016	2,276
2017	2,534
2018	2,620
2019	2,384
Thereafter	8,348
Total future minimum operating lease payments	$20,061

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	1 Months Ended			12 Months Ended			1 Months Ended
	Apr. 30, 2014	Jun. 30, 2013	Oct. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 31, 2013	Aug. 31, 2012
Stock issued during period, shares, new issues	1,000,000	1,989,500	5,750,000
Shares issued, price per share	$320	$33.01	$15
Proceeds from issuance of common stock	$183,500,000	$61,200,000		$183,475,222	$61,169,337	$108,499,996
Intercept Pharmaceuticals Incorporated [Member]
Stock issued during period, shares, new issues	600,000
Selling Stockholders [Member]
Related party transaction, reimbursable expense							58,000
Series C Preferred Stock [Member] | Genextra [Member]
Related party transaction, reimbursable expense								50,000
Series C Preferred Stock [Member] | Orbi Med Advisors Limitied Liability Corporation [Member]
Related party transaction, reimbursable expense								150,000
Selling Stockholders [Member]
Related party transaction, reimbursable expense	$70,000
Stock issued during period, shares, new issues	400,000

Net_Loss_Per_Share_Schedule_of

Net Loss Per Share (Schedule of Calculation of Numerator and Denominator in Earnings Per Share) (Details) (USD $)	3 Months Ended				12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Numerator:
Net loss attributable to common stockholders					($283,225,954)	($67,792,410)	($46,273,506)
Denominator:
Weighted average shares outstanding, basic and diluted (in shares)					20,784,438	18,028,731	6,283,238
Net loss per share, basic and diluted (in dollars per share)	($0.64)	($1.65)	($0.79)	($0.62)	($13.63)	($3.76)	($7.36)

Net_Loss_Per_Share_Schedule_of1

Net Loss Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 31, 2012
Net Loss Per Share [Abstract]
Shares issuable upon conversion of preferred stock				7,403,817
Options	1,436,055	1,524,837	1,526,000
Restricted stock units	119,000	121,000	176,000
Warrants to purchase common stock		865,381	1,161,965
Total	1,555,000	2,511,000	2,864,000

Quarterly_Financial_Data_Sched

Quarterly Financial Data (Schedule of Quarterly Financial Information) (Details) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Quarterly Financial Data [Abstract]
Licensing revenue	$445,000	$445,000	$445,000	$405,000	$405,000	$405,000	$405,000	$405,000	$1,741,618	$1,621,627	$2,446,105
Total costs and expenses	35,577,000	36,517,000	22,874,000	19,944,000	14,313,000	11,508,000	8,023,000	7,229,000	114,911,832	41,073,346	21,359,693
Net income (loss)	($34,824,000)	($35,843,000)	$33,470,000	($246,029,000)	($12,368,000)	($31,737,000)	($13,477,000)	($10,210,000)	($283,225,954)	($67,792,410)	($43,643,071)	($12,737,654)
Net loss per common share-basic and diluted (in dollars per share)					($0.64)	($1.65)	($0.79)	($0.62)	($13.63)	($3.76)	($7.36)
Net income (loss) per common share: Basic	($1.63)	($1.69)	$1.60	($12.61)
Net income (loss) per common share: Diluted	($1.63)	($1.69)	$1.51	($12.61)

Litigation_Narrative_Details

Litigation (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Loss contingency, domicile of litigation	United States District Court for the Southern District of New York
Loss contingency, allegations	The lawsuits allege that the Company made material misrepresentations and/or omissions of material fact in its public disclosures during the period from January 9, 2014 to January 10, 2014, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. The alleged improper disclosures relate to the Company's January 9, 2014 announcement that the FLINT trial had been stopped early based on a pre-defined interim efficacy analysis. Specifically, the lawsuits claim that the January 9, 2014 announcement was misleading because it did not contain information regarding certain lipid abnormalities seen in the FLINT trial in OCA-treated patients compared to placebo
Scot H. Atwood vs Intercept Pharmaceuticals Incorporated [Member]
Loss contingency, lawsuit filing date	21-Feb-14
Loss contingency, name of plaintiff	Scot H. Atwood
Loss contingency, name of defendant	Intercept Pharmaceuticals, Inc.
Loss contingency accrual	0
George Burton vs Intercept Pharmaceuticals Incorporated [Member]
Loss contingency, lawsuit filing date	28-Feb-14
Loss contingency, name of plaintiff	George Burton
Loss contingency, name of defendant	Intercept Pharmaceuticals, Inc.
Loss contingency accrual	0

Subsequent_Events_Details

Subsequent Events (Details)	Dec. 31, 2014	Dec. 31, 2014	Feb. 19, 2015	Feb. 19, 2015	Feb. 19, 2015
	USD ($)	UNITED KINGDOM [Member]	UNITED KINGDOM [Member]	UNITED KINGDOM [Member]	UNITED KINGDOM [Member]
		Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Scenario, Plan [Member]
			USD ($)	GBP (£)	Subsequent Event [Member]
			sqft		GBP (£)
Area of real estate property			6,000	6,000
Description of lessee leasing arrangements, operating leases		annual rent is £470,608, payable quarterly. We are also required to pay value added tax (VAT) on the rent. The Company will be responsible for a portion of the insurance, certain service charges and taxes for the building based on the floor area rented by the Company
Rent expense	$1,899,000			£ 470,608
Security deposit			$705,912		£ 470,608