Ocera Therapeutics 10-Q 13 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Ocera Therapeutics, Inc.	'
Entity Central Index Key	'0001274644	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	19,741,758

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$12,507	$15,533
Short-term investments, available-for-sale	25,611	30,167
Accounts receivable	33	93
Prepaid expenses and other current assets	635	470
Assets of discontinued operations	0	3,029
Current assets	38,786	49,292
Property and equipment, net	75	59
Long-term investments	0	1,513
Other non-current assets	87	26
Intangible assets, net	253	335
Goodwill	595	595
Total assets	39,796	51,820
Current liabilities:	'	'
Accounts payable	1,306	1,282
Accrued liabilities	1,900	1,902
Liabilities of discontinued operations	95	3,503
Total current liabilities	3,301	6,687
Other liabilities	0	1
Total liabilities	3,301	6,688
Commitments and contingencies (Note 8)	'	'
Stockholders' equity:	'	'
Preferred Stock - $0.00001 par value, 5,000,000 shares authorized and no shares issued or outstanding at June 30, 2014 and December 31, 2013.	0	0
Common stock - $0.00001 par value, 100,000,000 shares authorized, 15,541,758 and 15,300,214 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively.	0	0
Additional paid-in capital	129,265	126,615
Accumulated other comprehensive income	4	3
Accumulated deficit	-92,774	-81,486
Total stockholders' equity	36,495	45,132
Total liabilities and stockholders' equity	$39,796	$51,820

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	15,541,758	15,300,214
Common stock, shares outstanding	15,541,758	15,300,214

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue:	'	'	'	'
Royalty revenue	$33	$0	$78	$0
Total revenue	33	0	78	0
Operating expenses:	'	'	'	'
Research and development	4,826	365	7,292	434
General and administrative	2,421	1,652	5,154	2,223
Amortization of intangibles	41	0	82	0
Impairment of intangibles	0	0	0	0
Total operating expenses	7,288	2,017	12,528	2,657
Other income (expense):	'	'	'	'
Interest and other income	12	0	25	0
Interest and other expense	0	-77	0	-173
Change in fair value of warrant liability	0	7	0	12
Total other income (expense), net	12	-70	25	-161
Net loss from continuing operations	-7,243	-2,087	-12,425	-2,818
Net income from discontinued operations (including gain on disposal of $1,149 for the six months ended June 30, 2014)	20	0	1,137	0
Net loss	-7,223	-2,087	-11,288	-2,818
Net loss per share:	'	'	'	'
Net loss per share from continuing operations, basic and diluted	($0.46)	($3.24)	($0.80)	($4.40)
Net income per share from discontinued operations, basic and diluted	$0	$0	$0.07	$0
Net loss per share, basic and diluted	($0.46)	($3.24)	($0.73)	($4.40)
Weighted average number of shares used to compute net loss per share of common stock, basic and diluted	15,539,053	643,674	15,480,469	640,465
Other comprehensive loss:	'	'	'	'
Net loss	-7,223	-2,087	-11,288	-2,818
Unrealized gain (loss) on investments	-1	0	1	0
Comprehensive loss	($7,224)	($2,087)	($11,287)	($2,818)

Consolidated_Statements_of_Ope1

Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) (Tranzyme Pharma Inc. [Member], USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014
Tranzyme Pharma Inc. [Member]	'	'
Net gain on disposal of assets	$0	$1,149

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Operating activities	'	'
Net loss	($11,288)	($2,818)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Net income from discontinued operations	-1,137	0
Depreciation	20	5
Amortization of intangibles	82	0
Stock based compensation	2,252	32
Change in valuation of warrant liability	0	-12
Accretion of premium on investment securities	212	80
Debt discount, net and noncash interest expense	0	93
Changes in operating assets and liabilities:	'	'
Accounts receivable	60	0
Prepaid expenses and other assets	-139	-1
Accounts payable	11	778
Accrued liabilities	-90	252
Net cash used in continuing operating activities	-10,017	-1,591
Net cash used in discontinued operating activities	-407	0
Net cash used in operating activities	-10,424	-1,591
Investing activities	'	'
Purchases of property and equipment	-23	-2
Purchase of investments	-9,187	0
Sale and maturities of investments	15,045	0
Net cash provided by (used in) continuing investing activities	5,835	-2
Net cash provided by discontinued investing activities	1,165	0
Net cash provided by (used in) investing activities	7,000	-2
Financing activities	'	'
Proceeds from issuance of common stock	398	20
Net cash provided by continuing financing activities	398	20
Net increase (decrease) in cash and cash equivalents	-3,026	-1,573
Cash and cash equivalentsbbeginning of period	15,533	2,303
Cash and cash equivalentsbend of period	12,507	730
Supplemental schedule of noncash investing and financing activities	'	'
Cashless exercise of stock options	22	0
Acquisition of fixed assets with accounts payable	13	0
Deferred offering costs in accrued expenses and accounts payable	$87	$0

The_Company

The Company	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
The Company	'
	The Company
	Ocera Therapeutics, Inc. (the "Company") is a clinical stage biopharmaceutical company focused on the development and commercialization of OCR-002 (ornithine phenylacetate). OCR-002 is an ammonia scavenger and has been granted orphan drug designation and Fast Track status from the U.S. Food and Drug Administration (FDA) for the treatment of hyperammonemia and resultant hepatic encephalopathy in patients with acute liver failure and acute or chronic liver disease.
	On July 15, 2013, Terrapin Acquisition, Inc., a Delaware corporation (“Merger Sub”) and wholly owned subsidiary of Tranzyme, Inc., a Delaware corporation (“Tranzyme”), completed its merger (the “Merger”) with and into Ocera Therapeutics, Inc., a private Delaware corporation (“Private Ocera”).  Private Ocera is considered the acquiring company in the Merger for accounting purposes.  In connection with the Merger, the combined company changed its name to Ocera Therapeutics, Inc. and the name of Private Ocera was changed to Ocera Subsidiary, Inc.
	As of June 30, 2014, the Company has incurred losses since inception of $92.8 million. The Company expects to continue to incur losses and that it will require additional financial resources to advance OCR-002 to either commercial stage or liquidity events.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	Basis of Presentation
	The Company has a limited operating history and the sales and income potential of the Company's business and addressable market are unproven. The Company has experienced net losses each year since its inception and, as of June 30, 2014, had an accumulated deficit of $92.8 million. The Company anticipates that it will continue to incur net losses into the foreseeable future as it continues the development and commercialization of its lead drug candidate OCR-002 and expands its corporate infrastructure. Based on the Company's operating plan, the Company believes its current working capital is sufficient to fund its operations through at least the next twelve months.
	The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with United States of America generally accepted accounting principles ("U.S. GAAP") for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission. The financial statements and related notes do not include all information and footnotes required by U.S. GAAP for annual reports. This quarterly report should be read in conjunction with the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2013.
	Unaudited Interim Financial Information
	The accompanying interim consolidated financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The year-end balance sheet was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period.
	Use of Estimates
	The preparation of financial statements in conformity with the U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
	Discontinued Operations
	On September 11, 2013, the Board of Directors approved a restructuring plan related to the operations of Tranzyme Pharma Inc. and its Sherbrooke, Quebec facility ("Tranzyme Pharma"), whereby the Company closed the operations of the facility effective as of November 11, 2013. On December 13, 2013, the Company entered into a Technology Transfer and License Agreement to sell the Company’s MATCH discovery platform and license the related intellectual property rights. The Company concluded that since Tranzyme Pharma's operations and the MATCH discovery platform comprised a component with distinct operations and cash flows that would be eliminated from ongoing operations, and the Company would not have significant involvement after the disposal, these components would be accounted for as discontinued operations. The results of operations of the components to be disposed of, related restructuring costs and gain on disposal of assets have been classified as net income from discontinued operations from their date of acquisition on July 15, 2013 through June 30, 2014. The assets and liabilities of Tranzyme Pharma have been classified as assets and liabilities, respectively, of discontinued operations. Unless noted otherwise, discussion in these notes to the financial statements pertain to our continuing operations.
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update, or ASU, No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (topic 360); Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU 2014-08 provides additional requirements to classify a disposal of a component of an entity or a group of components of an entity in discontinued operations only if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with an option for early adoption. The Company intends to adopt this guidance at the beginning of our first quarter of fiscal year 2015, and does not expect the adoption of this standard will have a material impact on the Company’s financial statements.
	In June 2014, the FASB issued Accounting Standards Update, or ASU, No. 2014-10, Development Stage Entities (Topic 915). ASU 2014-10 removes the distinction between development stage entities and other reporting entities in U.S. GAAP and eliminates the requirement to label financial statements as those of a development stage entity and eliminates the requirement to present inception to date information in the statements of income, cash flows and shareholder equity. The guidance is applied retroactively and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with an option for early adoption. The Company early adopted this guidance in the second quarter of 2014, and as a result, has removed the label “A Development Stage Company” from its financial statements and accompanying notes and eliminated the inception to date information from the Consolidated Statements of Operations and Comprehensive Loss and Consolidated Statements of Cash Flows. Other than presentation, the adoption of this standard did not have a material impact on the Company’s financial statements.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of June 30, 2014, and December 31, 2013, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. As a basis for categorizing inputs, the Company uses a three-tier fair value hierarchy, which prioritizes the inputs used to measure fair value from market-based assumptions to entity specific assumptions:
	Level 1: Quoted prices in active markets for identical assets or liabilities;
	Level 2: Inputs, other than level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and
	Level 3: Unobservable inputs that are supported by little or no market activity, which require the Company to develop its own assumptions.
	Assets measured at fair value on a recurring basis as of June 30, 2014 are as follows (in thousands):
		Balance as of		Quoted Prices		Significant		Significant
		June 30,		in Active		Other		Unobservable
		2014		Markets for		Observable		Inputs
				Identical Assets		Inputs		(Level 3)
				(Level 1)		(Level 2)
	Assets:
	Money market funds	$	9,427	$	9,427	$	—	$	—
	Commercial paper	7,499		—		7,499		—
	Corporate debt securities	19,612		—		19,612		—
	Total assets	$	36,538	$	9,427	$	27,111	$	—
	Assets measured at fair value on a recurring basis as of December 31, 2013 are as follows (in thousands):
		Balance as of		Quoted Prices		Significant		Significant
		December 31,		in Active		Other		Unobservable
		2013		Markets for		Observable		Inputs
				Identical Assets		Inputs		(Level 3)
				(Level 1)		(Level 2)
	Assets:
	Money market funds	$	5,774	$	5,774	$	—	$	—
	Commercial paper	15,246		—		15,246		—
	Corporate debt securities	20,884		—		20,884		—
	Total assets	$	41,904	$	5,774	$	36,130	$	—

Balance_Sheet_Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2014
Balance Sheet Components [Abstract]	'
Balance Sheet Components	'
	Balance Sheet Components
	Investments
	The following table summarizes the Company's available for sale investments as of June 30, 2014 (in thousands).
			Maturity (in Years)		Amortized Cost				Unrealized Gains		Unrealized Losses			Estimated Fair Value
	Short-term investments:
	Commercial paper		1 or less		$	5,996			$	3	$	—		$	5,999
	Corporate debt securities		1 or less		19,611				1		—			19,612
	Total investments				$	25,607			$	4	$	—		$	25,611
	The following table summarizes the Company's available for sale investments as of December 31, 2013 (in thousands).
			Maturity (in Years)		Amortized Cost				Unrealized Gains		Unrealized Losses			Estimated Fair Value
	Short-term investments:
	Commercial paper		1 or less		$	15,232			$	14	$	—		$	15,246
	Corporate debt securities		1 or less		14,930				—		(9		)	14,921
	Total				30,162				14		(9		)	30,167
	Long-term investments:
	Corporate debt securities		More than 1		1,515				—		(2		)	1,513
	Total				1,515				—		(2		)	1,513
	Total investments				$	31,677			$	14	$	(11	)	$	31,680
	At each reporting date, the Company performs an evaluation of impairment to determine if the unrealized losses are other-than-temporary. For debt securities, management determines whether it intends to sell the impaired securities, and if there is no intent or expected requirement to sell, management considers whether it is likely that the amortized cost will be recovered. The Company does not consider unrealized losses on its debt investment securities to be credit-related. These unrealized losses relate to changes in interest rates and market spreads subsequent to purchase. The Company has not made a decision to sell securities with unrealized losses and believes it is more likely than not it would not be required to sell such securities before recovery of its amortized cost. There have been no other than temporary losses recognized in earnings.
	Property and Equipment
	Property and equipment, net were as follows (in thousands):
		Useful Life		June 30,				December 31,
		(in years)		2014				2013
	Computer equipment and software	3 years		$	43			$	40
	Office furniture and equipment	5 years		51				43
	Construction in progress	5 years		25				—
				119				83
	Accumulated depreciation			(44		)		(24		)
	Property and equipment, net			$	75			$	59
	Total depreciation expense was $10,000 and $2,000 for the three months ended June 30, 2014 and 2013, respectively, and $20,000 and $5,000 for the six months ended June 30, 2014 and 2013, respectively.
	Acquired intangible assets
	The net book value of acquired intangible assets were as follows (in thousands):
		June 30,				December 31,
	Customer Agreements:	2014				2013
	Carrying value	$	410			$	410
	Accumulated amortization	(157		)		(75		)
	Intangible assets, net	$	253			$	335
	Weighted average remaining life (in years)	1.5				2
	Total amortization expense was $41,000 and $0 for the three months ended June 30, 2014 and 2013, respectively, and $82,000 and $0 for the six months ended June 30, 2014 and 2013, respectively.
	The estimated future amortization expense of purchased intangible assets as of June 30, 2014 is $0.1 million and $0.2 million for the six-months and year ended December 31, 2014 and 2015 respectively.
	Accrued Liabilities
	Accrued liabilities were as follows (in thousands):
		June 30,				December 31,
		2014				2013
	Accrued clinical trials	$	1,056			$	417
	Accrued compensation	333				1,093
	Accrued consulting	362				315
	Other accrued liabilities	149				77
		$	1,900			$	1,902

Stock_Based_Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock Options	'
	Stock Based Compensation
	The Company’s stock option activity and related information for the six months ended June 30, 2014 was as follows (in thousands, except share and per share data):
											Weighted-avg.
		Shares					Weighted-avg.				Remaining	Aggregate
		Available		Stock Options			Exercise Price				Contractual	Intrinsic
		for Grant		Outstanding			Per Share				Life (in Years)	Value
	Balance at December 31, 2013	762,867		1,909,769			$	8.77			8.58	$	11,818
	Stock options granted	(529,000	)	529,000			$	8.27
	Stock options cancelled	358,302		(358,302	)		$	14.58
	Stock options exercised	—		(243,824	)		$	1.72
	Balance at June 30, 2014	592,169		1,836,643			$	8.43			9.25	$	1,192
	At June 30, 2014:
	Vested and expected to vest			1,765,297			$	8.45			9.21	$	1,183
	Exercisable			204,494			$	12.52			6.37	$	947
	The aggregate intrinsic value of options exercised under all option plans was $3.1 million and $11,000 for the six months ended June 30, 2014 and 2013, respectively, determined as of the date of option exercise.
	The Company recognized stock based compensation expense as follows (in thousands):
		Three Months Ended							Six Months Ended
		June 30,							June 30,
		2014			2013				2014			2013
	Research and development	$	366		$	2			$	831		$	4
	General and administrative	511			14				1,421			28
	Total	$	877		$	16			$	2,252		$	32
	As of June 30, 2014, there were unrecognized compensation costs of $13.3 million related to stock options and the Company expects to recognize those costs over a weighted average period of 3.23 years.
	Stock-based compensation cost for stock options is estimated at the grant date based on the fair-value using the Black-Scholes option pricing model. The fair value of employee stock options is being amortized on a straight-line basis over the requisite service period of the awards. The fair value of employee stock options was estimated using the following weighted-average assumptions:
			Three Months Ended			Six Months Ended
			June 30,			June 30,
			2014	2013		2014		2013
	Risk-free interest rates		1.90% - 1.91%	—		1.90% - 1.92%		—
	Expected life in years		6.08	—		6.08		—
	Expected dividend yield		—	—		—		—
	Expected volatility		100%	—		100%		—

Discontinued_Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2014
Restructuring and Related Activities [Abstract]	'
Discontinued Operations	'
	Discontinued Operations
	On September 11, 2013, the Company announced a restructuring plan related to the operations of Tranzyme Pharma. On December 13, 2013, the Company entered into a Technology Transfer and License Agreement with Genentech, Inc. ("Genentech"), and F. Hoffman-La Roche, Ltd. ("Roche") to sell certain Canadian fixed assets and materials, the MATCH technology and rights to the Genentech and Roche customer agreements and related intellectual property through licensing of patents for $4.0 million. The Company concluded that the operations of Tranzyme Pharma and related asset groups sold to Genentech and Roche would be accounted for as discontinued operations as the operations and cash flows of the discontinued component or asset group would be eliminated from ongoing operations of the Company and there would not be significant involvement in the component or asset group after the disposal transaction.
	During the three months ended June 30, 2014, the Company recognized $20,000 income due to the true-up of certain Canadian tax liabilities related to the subsidiary operations of Tranzyme Pharma. During the six months ended June 30, 2014, the Company completed its obligations under the Technology Transfer and License Agreement with Genentech and Roche and recognized a gain on disposal of assets of $1.1 million within discontinued operations. Also, during the six months ended June 30, 2014, the Company recognized a $6,000 gain from previously unrecognized cumulative foreign currency translation adjustments related to the deconsolidation of subsidiary operations of Tranzyme Pharma.
	The results of Tranzyme Pharma and related asset groups are disclosed as discontinued operations in the Consolidated Statements of Operations and Comprehensive Loss for the period presented (in thousands).
			Three Months Ended			Six Months Ended
			30-Jun-14			30-Jun-14
	Proceeds recognized pursuant to Technology Transfer and License Agreement		$	—		$	4,000
	Less carrying value of assets sold:
	Intangible assets		—			(2,053		)
	Property and equipment		—			(356		)
	Goodwill		—			(442		)
	Net gain on disposal of assets		—			1,149
	Other income (expenses) of discontinued operations		20			(6		)
	Recognition of accumulated translation adjustments upon deconsolidation of subsidiary		—			(6		)
	Net income from discontinued operations		$	20		$	1,137
	The assets and liabilities of Tranzyme Pharma and related asset groups are presented as held for disposal in the Consolidated Balance Sheets as of June 30, 2014 and December 31, 2013. The carrying amount of assets and liabilities are as follows (in thousands):
		30-Jun-14			31-Dec-13
	Prepaid expenses and other current assets	$	—		$	178
	Property and equipment, net	—			356
	Intangible assets, net	—			2,053
	Goodwill	—			442
	Assets of discontinued operations	$	—		$	3,029
	Accounts payable	$	95		$	106
	Deposit on sale of assets	—			3,000
	Accrued liabilities	—			397
	Liabilities of discontinued operations	$	95		$	3,503
	Restructuring of Tranzyme Pharma
	During the six months ended June 30, 2014, the Company paid most of the remaining liabilities related to the restructuring of Tranzyme Pharma. The remaining restructuring liabilities are classified as accounts payable in discontinued operations.
	The following table summarizes the Company’s restructuring activities for the six months ended June 30, 2014 in thousands:
		Post- Employment Benefits			Moving and Shipping Costs				Operating Activities			Total
	Accrued restructuring at December 31, 2013	$	392		$	99			$	11		$	502
	Cash payments and other settlements	(392		)	(4		)		(11		)	(407		)
	Accrued restructuring at June 30, 2014	$	—		$	95			$	—		$	95

Net_Loss_Per_Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Net Loss Per Share	'
	Net Loss Per Share
	Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. Potentially dilutive securities which include convertible preferred stock, warrants, convertible notes payable and outstanding stock options under the stock option plan have been excluded from the computation of diluted net loss per share as they would be anti-dilutive. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company’s net loss position. All share and per share amounts for all periods presented in the following table have been adjusted retroactively to reflect the exchange for Tranzyme, shares as of the date of the Merger.
	The following table presents the computation of net loss per share (in thousands, except share and per share data):
		Three Months Ended							Six Months Ended
		June 30,							June 30,
		2014				2013			2014			2013
	Numerator
	Net loss from continuing operations	$	(7,243	)		$	(2,087	)	$	(12,425	)	$	(2,818	)
	Net income from discontinued operations	20				—			1,137			—
	Net loss	$	(7,223	)		$	(2,087	)	$	(11,288	)	$	(2,818	)
	Denominator
	Weighted average common shares outstanding used to compute net loss per share, basic and diluted	15,539,053				643,674			15,480,469			640,465
	Net loss per share of common stock, basic and diluted
	Net loss per share from continuing operations	$	(0.46	)		$	(3.24	)	$	(0.80	)	$	(4.40	)
	Net income per share from discontinued operations	—				—			0.07			—
	Net loss per share	$	(0.46	)		$	(3.24	)	$	(0.73	)	$	(4.40	)
	The following weighted average outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share of common stock for the periods presented because including them would have been anti-dilutive:
		Three Months Ended						Six Months ended
		June 30,						June 30,
		2014			2013			2014		2013
	Convertible preferred stock	—			4,840,324			—		4,840,324
	Convertible preferred stock warrants	—			16,494			—		21,386
	Common stock warrants	938,882			131,462			938,882		131,462
	Common stock options	1,731,347			452,898			1,744,033		565,633
	Total	2,670,229			5,441,178			2,682,915		5,558,805
	In addition to the potentially dilutive securities noted above, the Company had outstanding convertible notes payable and accrued interest that were converted into 186,217 shares of common stock upon completion of the Merger. The Company has excluded these convertible notes payable from the table above.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	From time to time, the Company may be involved in disputes, including litigation, relating to claims arising out of operations in the normal course of its business. Any of these claims could subject the Company to costly legal expenses and, while the Company generally believes that it has adequate insurance to cover many different types of liabilities, its insurance carriers may deny coverage or its policy limits may be inadequate to fully satisfy any damage awards or settlements. If this were to happen, the payment of any such awards could have a material adverse effect on the Company's consolidated results of operations and financial position. Additionally, any such claims, whether or not successful, could damage the Company's reputation and business. The Company is currently not a party to any legal proceedings, the adverse outcome of which, in management’s opinion, individually or in the aggregate, would have a material adverse effect on the Company's consolidated results of operations or financial position.
	Leases
	Rent expense was approximately $52,000 and $104,000 for the three and six months ended June 30, 2014 and $38,000 and $74,000 for the three and six months ended June 30, 2013, respectively.
	The following is a schedule of non-cancellable future minimum lease payments for operating leases as of June 30, 2014 (in thousands):
	Years ending December 31:
	2014 (Six Months)	$	113
	2015	38
	Total	$	151

Subsequent_Events

Subsequent Events	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	On July 10, 2014 the Company priced an underwritten public offering of 4,200,000 shares of its common stock at an offering price of $6.00 per share. The offering raised gross proceeds to the Company of $25.2 million before deducting the underwriting discount of $1.5 million and other offering expenses. The net proceeds from the offering are expected to be used primarily to continue the Company's clinical development of OCR-002 and for working capital and other general corporate purposes.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Basis of Accounting	'
	Basis of Presentation
	The Company has a limited operating history and the sales and income potential of the Company's business and addressable market are unproven. The Company has experienced net losses each year since its inception and, as of June 30, 2014, had an accumulated deficit of $92.8 million. The Company anticipates that it will continue to incur net losses into the foreseeable future as it continues the development and commercialization of its lead drug candidate OCR-002 and expands its corporate infrastructure. Based on the Company's operating plan, the Company believes its current working capital is sufficient to fund its operations through at least the next twelve months.
	The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with United States of America generally accepted accounting principles ("U.S. GAAP") for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission. The financial statements and related notes do not include all information and footnotes required by U.S. GAAP for annual reports. This quarterly report should be read in conjunction with the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2013.
Unaudited Interim Financial Information	'
	Unaudited Interim Financial Information
	The accompanying interim consolidated financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The year-end balance sheet was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with the U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Discontinued Operations	'
	Discontinued Operations
	On September 11, 2013, the Board of Directors approved a restructuring plan related to the operations of Tranzyme Pharma Inc. and its Sherbrooke, Quebec facility ("Tranzyme Pharma"), whereby the Company closed the operations of the facility effective as of November 11, 2013. On December 13, 2013, the Company entered into a Technology Transfer and License Agreement to sell the Company’s MATCH discovery platform and license the related intellectual property rights. The Company concluded that since Tranzyme Pharma's operations and the MATCH discovery platform comprised a component with distinct operations and cash flows that would be eliminated from ongoing operations, and the Company would not have significant involvement after the disposal, these components would be accounted for as discontinued operations. The results of operations of the components to be disposed of, related restructuring costs and gain on disposal of assets have been classified as net income from discontinued operations from their date of acquisition on July 15, 2013 through June 30, 2014. The assets and liabilities of Tranzyme Pharma have been classified as assets and liabilities, respectively, of discontinued operations. Unless noted otherwise, discussion in these notes to the financial statements pertain to our continuing operations.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update, or ASU, No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (topic 360); Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU 2014-08 provides additional requirements to classify a disposal of a component of an entity or a group of components of an entity in discontinued operations only if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with an option for early adoption. The Company intends to adopt this guidance at the beginning of our first quarter of fiscal year 2015, and does not expect the adoption of this standard will have a material impact on the Company’s financial statements.
	In June 2014, the FASB issued Accounting Standards Update, or ASU, No. 2014-10, Development Stage Entities (Topic 915). ASU 2014-10 removes the distinction between development stage entities and other reporting entities in U.S. GAAP and eliminates the requirement to label financial statements as those of a development stage entity and eliminates the requirement to present inception to date information in the statements of income, cash flows and shareholder equity. The guidance is applied retroactively and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with an option for early adoption. The Company early adopted this guidance in the second quarter of 2014, and as a result, has removed the label “A Development Stage Company” from its financial statements and accompanying notes and eliminated the inception to date information from the Consolidated Statements of Operations and Comprehensive Loss and Consolidated Statements of Cash Flows. Other than presentation, the adoption of this standard did not have a material impact on the Company’s financial statements.
Net Loss Per Share	'
	Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. Potentially dilutive securities which include convertible preferred stock, warrants, convertible notes payable and outstanding stock options under the stock option plan have been excluded from the computation of diluted net loss per share as they would be anti-dilutive. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company’s net loss position. All share and per share amounts for all periods presented in the following table have been adjusted retroactively to reflect the exchange for Tranzyme, shares as of the date of the Merger.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Assets and liabilities measured at fair value on a recurring basis	'
	Assets measured at fair value on a recurring basis as of June 30, 2014 are as follows (in thousands):
		Balance as of		Quoted Prices		Significant		Significant
		June 30,		in Active		Other		Unobservable
		2014		Markets for		Observable		Inputs
				Identical Assets		Inputs		(Level 3)
				(Level 1)		(Level 2)
	Assets:
	Money market funds	$	9,427	$	9,427	$	—	$	—
	Commercial paper	7,499		—		7,499		—
	Corporate debt securities	19,612		—		19,612		—
	Total assets	$	36,538	$	9,427	$	27,111	$	—
	Assets measured at fair value on a recurring basis as of December 31, 2013 are as follows (in thousands):
		Balance as of		Quoted Prices		Significant		Significant
		December 31,		in Active		Other		Unobservable
		2013		Markets for		Observable		Inputs
				Identical Assets		Inputs		(Level 3)
				(Level 1)		(Level 2)
	Assets:
	Money market funds	$	5,774	$	5,774	$	—	$	—
	Commercial paper	15,246		—		15,246		—
	Corporate debt securities	20,884		—		20,884		—
	Total assets	$	41,904	$	5,774	$	36,130	$	—

Balance_Sheet_Components_Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2014
Balance Sheet Components [Abstract]	'
Summary of available for sale investments	'
	The following table summarizes the Company's available for sale investments as of June 30, 2014 (in thousands).
			Maturity (in Years)		Amortized Cost				Unrealized Gains		Unrealized Losses			Estimated Fair Value
	Short-term investments:
	Commercial paper		1 or less		$	5,996			$	3	$	—		$	5,999
	Corporate debt securities		1 or less		19,611				1		—			19,612
	Total investments				$	25,607			$	4	$	—		$	25,611
	The following table summarizes the Company's available for sale investments as of December 31, 2013 (in thousands).
			Maturity (in Years)		Amortized Cost				Unrealized Gains		Unrealized Losses			Estimated Fair Value
	Short-term investments:
	Commercial paper		1 or less		$	15,232			$	14	$	—		$	15,246
	Corporate debt securities		1 or less		14,930				—		(9		)	14,921
	Total				30,162				14		(9		)	30,167
	Long-term investments:
	Corporate debt securities		More than 1		1,515				—		(2		)	1,513
	Total				1,515				—		(2		)	1,513
	Total investments				$	31,677			$	14	$	(11	)	$	31,680
Property and equipment components	'
	Property and equipment, net were as follows (in thousands):
		Useful Life		June 30,				December 31,
		(in years)		2014				2013
	Computer equipment and software	3 years		$	43			$	40
	Office furniture and equipment	5 years		51				43
	Construction in progress	5 years		25				—
				119				83
	Accumulated depreciation			(44		)		(24		)
	Property and equipment, net			$	75			$	59
Net book value of acquired intangible assets	'
	The net book value of acquired intangible assets were as follows (in thousands):
		June 30,				December 31,
	Customer Agreements:	2014				2013
	Carrying value	$	410			$	410
	Accumulated amortization	(157		)		(75		)
	Intangible assets, net	$	253			$	335
	Weighted average remaining life (in years)	1.5				2
Schedule of accrued liabilities	'
	Accrued liabilities were as follows (in thousands):
		June 30,				December 31,
		2014				2013
	Accrued clinical trials	$	1,056			$	417
	Accrued compensation	333				1,093
	Accrued consulting	362				315
	Other accrued liabilities	149				77
		$	1,900			$	1,902

Stock_Based_Compensation_Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Summary of stock option activity	'
	The Company’s stock option activity and related information for the six months ended June 30, 2014 was as follows (in thousands, except share and per share data):
											Weighted-avg.
		Shares					Weighted-avg.				Remaining	Aggregate
		Available		Stock Options			Exercise Price				Contractual	Intrinsic
		for Grant		Outstanding			Per Share				Life (in Years)	Value
	Balance at December 31, 2013	762,867		1,909,769			$	8.77			8.58	$	11,818
	Stock options granted	(529,000	)	529,000			$	8.27
	Stock options cancelled	358,302		(358,302	)		$	14.58
	Stock options exercised	—		(243,824	)		$	1.72
	Balance at June 30, 2014	592,169		1,836,643			$	8.43			9.25	$	1,192
	At June 30, 2014:
	Vested and expected to vest			1,765,297			$	8.45			9.21	$	1,183
	Exercisable			204,494			$	12.52			6.37	$	947
Stock-based compensation expense	'
	The Company recognized stock based compensation expense as follows (in thousands):
		Three Months Ended							Six Months Ended
		June 30,							June 30,
		2014			2013				2014			2013
	Research and development	$	366		$	2			$	831		$	4
	General and administrative	511			14				1,421			28
	Total	$	877		$	16			$	2,252		$	32
Stock option valuation assumptions	'
	The fair value of employee stock options was estimated using the following weighted-average assumptions:
			Three Months Ended			Six Months Ended
			June 30,			June 30,
			2014	2013		2014		2013
	Risk-free interest rates		1.90% - 1.91%	—		1.90% - 1.92%		—
	Expected life in years		6.08	—		6.08		—
	Expected dividend yield		—	—		—		—
	Expected volatility		100%	—		100%		—

Discontinued_Operations_Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2014
Restructuring and Related Activities [Abstract]	'
Discontinued operations included the Income Statement and Balance Sheets	'
	The results of Tranzyme Pharma and related asset groups are disclosed as discontinued operations in the Consolidated Statements of Operations and Comprehensive Loss for the period presented (in thousands).
			Three Months Ended			Six Months Ended
			30-Jun-14			30-Jun-14
	Proceeds recognized pursuant to Technology Transfer and License Agreement		$	—		$	4,000
	Less carrying value of assets sold:
	Intangible assets		—			(2,053		)
	Property and equipment		—			(356		)
	Goodwill		—			(442		)
	Net gain on disposal of assets		—			1,149
	Other income (expenses) of discontinued operations		20			(6		)
	Recognition of accumulated translation adjustments upon deconsolidation of subsidiary		—			(6		)
	Net income from discontinued operations		$	20		$	1,137
	The assets and liabilities of Tranzyme Pharma and related asset groups are presented as held for disposal in the Consolidated Balance Sheets as of June 30, 2014 and December 31, 2013. The carrying amount of assets and liabilities are as follows (in thousands):
		30-Jun-14			31-Dec-13
	Prepaid expenses and other current assets	$	—		$	178
	Property and equipment, net	—			356
	Intangible assets, net	—			2,053
	Goodwill	—			442
	Assets of discontinued operations	$	—		$	3,029
	Accounts payable	$	95		$	106
	Deposit on sale of assets	—			3,000
	Accrued liabilities	—			397
	Liabilities of discontinued operations	$	95		$	3,503
Schedule of estimated expenses to be incurred and expensed	'
	The following table summarizes the Company’s restructuring activities for the six months ended June 30, 2014 in thousands:
		Post- Employment Benefits			Moving and Shipping Costs				Operating Activities			Total
	Accrued restructuring at December 31, 2013	$	392		$	99			$	11		$	502
	Cash payments and other settlements	(392		)	(4		)		(11		)	(407		)
	Accrued restructuring at June 30, 2014	$	—		$	95			$	—		$	95

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Computation of net loss per share	'
	The following table presents the computation of net loss per share (in thousands, except share and per share data):
		Three Months Ended							Six Months Ended
		June 30,							June 30,
		2014				2013			2014			2013
	Numerator
	Net loss from continuing operations	$	(7,243	)		$	(2,087	)	$	(12,425	)	$	(2,818	)
	Net income from discontinued operations	20				—			1,137			—
	Net loss	$	(7,223	)		$	(2,087	)	$	(11,288	)	$	(2,818	)
	Denominator
	Weighted average common shares outstanding used to compute net loss per share, basic and diluted	15,539,053				643,674			15,480,469			640,465
	Net loss per share of common stock, basic and diluted
	Net loss per share from continuing operations	$	(0.46	)		$	(3.24	)	$	(0.80	)	$	(4.40	)
	Net income per share from discontinued operations	—				—			0.07			—
	Net loss per share	$	(0.46	)		$	(3.24	)	$	(0.73	)	$	(4.40	)
Potentially dilutive securities not included in the calculation of dilutive net loss per share	'
	The following weighted average outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share of common stock for the periods presented because including them would have been anti-dilutive:
		Three Months Ended						Six Months ended
		June 30,						June 30,
		2014			2013			2014		2013
	Convertible preferred stock	—			4,840,324			—		4,840,324
	Convertible preferred stock warrants	—			16,494			—		21,386
	Common stock warrants	938,882			131,462			938,882		131,462
	Common stock options	1,731,347			452,898			1,744,033		565,633
	Total	2,670,229			5,441,178			2,682,915		5,558,805

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of non-cancellable future minimum lease payments for operating leases	'
	The following is a schedule of non-cancellable future minimum lease payments for operating leases as of June 30, 2014 (in thousands):
	Years ending December 31:
	2014 (Six Months)	$	113
	2015	38
	Total	$	151

The_Company_Details

The Company (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'
Losses incurred since inception	($92,774)	($81,486)

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accounting Policies [Abstract]	'	'
Accumulated deficit	($92,774)	($81,486)

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Recurring [Member], USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	$36,538	$41,904
Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	9,427	5,774
Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	27,111	36,130
Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Money Market Funds [Member] | Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	9,427	5,774
Money Market Funds [Member] | Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	9,427	5,774
Money Market Funds [Member] | Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Money Market Funds [Member] | Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Commercial Paper [Member] | Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	7,499	15,246
Commercial Paper [Member] | Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Commercial Paper [Member] | Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	7,499	15,246
Commercial Paper [Member] | Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Corporate Debt Securities [Member] | Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	19,612	20,884
Corporate Debt Securities [Member] | Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Corporate Debt Securities [Member] | Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	19,612	20,884
Corporate Debt Securities [Member] | Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	$0	$0

Balance_Sheet_Components_Avail

Balance Sheet Components (Available For Sale Investments) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	'	$31,677
Unrealized Gains	'	14
Unrealized Losses	'	-11
Estimated Fair Value	'	31,680
Short-term investments [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	25,607	30,162
Unrealized Gains	4	14
Unrealized Losses	0	-9
Estimated Fair Value	25,611	30,167
Short-term investments [Member] | Commercial Paper [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	5,996	15,232
Unrealized Gains	3	14
Unrealized Losses	0	0
Estimated Fair Value	5,999	15,246
Short-term investments [Member] | Corporate Debt Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	19,611	14,930
Unrealized Gains	1	0
Unrealized Losses	0	-9
Estimated Fair Value	19,612	14,921
Long-term investments [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	'	1,515
Unrealized Gains	'	0
Unrealized Losses	'	-2
Estimated Fair Value	'	1,513
Long-term investments [Member] | Corporate Debt Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	'	1,515
Unrealized Gains	'	0
Unrealized Losses	'	-2
Estimated Fair Value	'	$1,513

Balance_Sheet_Components_Prope

Balance Sheet Components (Property and Equipment) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	$119	'	$119	'	$83
Less accumulated depreciation	-44	'	-44	'	-24
Property and equipment, net	75	'	75	'	59
Depreciation expense	10	2	20	5	'
Computer equipment and software [Member]	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	43	'	43	'	40
Useful life	'	'	'3 years	'	'
Office furniture and equipment [Member]	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	51	'	51	'	43
Useful life	'	'	'5 years	'	'
Construction in progress [Member]	'	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'	'
Property and equipment, gross	$25	'	$25	'	$0
Useful life	'	'	'5 years	'	'

Balance_Sheet_Components_Acqui

Balance Sheet Components (Acquired Intangible Assets) (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Balance Sheet Components [Abstract]	'	'	'	'	'
Carrying value	$410,000	'	$410,000	'	$410,000
Accumulated amortization	-157,000	'	-157,000	'	-75,000
Intangible assets, net	253,000	'	253,000	'	335,000
Weighted average remaining life (in years)	'	'	'1 year 6 months	'	'2 years
Amortization of intangibles	41,000	0	82,000	0	'
Estimated future amortization expense in 2014	100,000	'	100,000	'	'
Estimated future amortization expense in 2015	$200,000	'	$200,000	'	'

Balance_Sheet_Components_Accru

Balance Sheet Components (Accrued Liabilities) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Balance Sheet Components [Abstract]	'	'
Accrued clinical trials	$1,056	$417
Accrued compensation	333	1,093
Accrued consulting	362	315
Other accrued liabilities	149	77
Accrued liabilities	$1,900	$1,902

Stock_Based_Compensation_Stock

Stock Based Compensation (Stock Option Activity) (Details) (Stock Options [Member], USD $)	6 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Stock Options [Member]	'	'
Shares Available for Grant	'	'
Shares available for grant	762,867	'
Stock options granted	-529,000	'
Stock options cancelled	358,302	'
Shares available for grant	592,169	762,867
Stock Options Outstanding	'	'
Beginning balance, options	1,909,769	'
Stock options granted	529,000	'
Stock options cancelled	-358,302	'
Stock options exercised	-243,824	'
Ending balance, options	1,836,643	1,909,769
Stock options vested and expected to vest	1,765,297	'
Stock options exercisable	204,494	'
Weighted-average Exercise Price Per Share	'	'
Weighted-average exercise price, options outstanding, beginning balance	$8.77	'
Grants in period	$8.27	'
Cancelled in period	$14.58	'
Exercises in period	$1.72	'
Weighted-average exercise price, options outstanding, ending balance	$8.43	$8.77
Weighted-average exercise price, options exercisable	$8.45	'
Weighted-average exercise price, options vested and expected to vest	$12.52	'
Weighted-average remaining contractual life, options outstanding	'9 years 3 months	'8 years 6 months 29 days
Weighted-average remaining contractual life, options vested and expected to vest	'9 years 2 months 16 days	'
Weighted-average remaining contractual life, options exercisable	'6 years 4 months 13 days	'
Aggregate Intrinsic value, options outstanding	$1,192	$11,818
Aggregate Intrinsic value, options vested and expected to vest	1,183	'
Aggregate Intrinsic value, options exercisable	$947	'

Stock_Based_Compensation_Stock1

Stock Based Compensation (Stock-based compensation expense) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	$877	$16	$2,252	$32
Research and Development [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	366	2	831	4
General and Administrative [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Stock-based compensation expense	$511	$14	$1,421	$28

Stock_Based_Compensation_Valua

Stock Based Compensation (Valuation Assumptions) (Details) (Stock Options [Member])	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Stock Options [Member]	'	'	'	'
Fair Value Assumptions and Methodology [Abstract]	'	'	'	'
Risk free interest rate	'	0.00%	'	0.00%
Risk free interest rate, minimum	1.90%	'	1.90%	'
Risk free interest rate, maximum	1.91%	'	1.92%	'
Expected life in years	'6 years 29 days	'	'6 years 29 days	'
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Expected volatility	100.00%	0.00%	100.00%	0.00%

Stock_Based_Compensation_Addit

Stock Based Compensation (Additional Information) (Details) (Stock Options [Member], USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Stock Options [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Aggregate intrinsic value of options exercised	$3,100,000	$11,000	'
Compensation costs not yet recognized	$13,300,000	'	$13,300,000
Period for recognizing costs	'	'	'3 years 2 months 24 days

Discontinued_Operations_Detail

Discontinued Operations (Details) (Tranzyme Pharma Inc. [Member], USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Dec. 13, 2013
			Customer Agreements And Intellectual Property [Member]
Restructuring Cost and Reserve [Line Items]	'	'	'
Sale price for discontinued operations	'	'	$4,000,000
Income due to the true-up of certain Canadian tax liabilities	20,000	'	'
Net gain on disposal of assets	0	1,149,000	'
Recognition of accumulated translation adjustments upon deconsolidation of subsidiary	$0	($6,000)	'

Discontinued_Operations_Discon

Discontinued Operations (Discontinued Operations in the Company's Consolidated Statements of Operations and Comprehensive Loss) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Net income from discontinued operations (including gain on disposal of $1,149 for the six months ended June 30, 2014)	$20	$0	$1,137	$0
Tranzyme Pharma Inc. [Member]	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Net gain on disposal of assets	0	'	1,149	'
Other income (expenses) of discontinued operations	20	'	-6	'
Recognition of accumulated translation adjustments upon deconsolidation of subsidiary	0	'	-6	'
Net income from discontinued operations (including gain on disposal of $1,149 for the six months ended June 30, 2014)	20	'	1,137	'
Tranzyme Pharma Inc. [Member] | Intangible Assets [Member]	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Lees carrying value of assets sold	0	'	-2,053	'
Tranzyme Pharma Inc. [Member] | Property, Plant and Equipment [Member]	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Lees carrying value of assets sold	0	'	-356	'
Tranzyme Pharma Inc. [Member] | Goodwill [Member]	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Lees carrying value of assets sold	0	'	-442	'
Tranzyme Pharma Inc. [Member] | Customer Agreements And Intellectual Property [Member]	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Proceeds recognized pursuant to Technology Transfer and License Agreement	$0	'	($4,000)	'

Discontinued_Operations_Discon1

Discontinued Operations (Discontinued Operations in the Company's Consolidated Statement of Financial Position) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Assets of discontinued operations	$0	$3,029
Tranzyme Pharma Inc. [Member]	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Prepaid expenses and other current assets	0	178
Property and equipment	0	356
Intangible assets, net	0	2,053
Goodwill	0	442
Assets of discontinued operations	0	3,029
Accounts payable	95	106
Deposit on sale of assets	0	3,000
Accrued liabilities	0	397
Liabilities of discontinued operations	$95	$3,503

Discontinued_Operations_Restru

Discontinued Operations (Restructuring Activities) (Details) (Tranzyme Pharma Inc. [Member], USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Restructuring Reserve [Roll Forward]	'
Accrued Restructuring at Start of Period	$502
Cash payments and other settlements	-407
Accrued Restructuring at End of Period	95
Post-Employment Benefits [Member]	'
Restructuring Reserve [Roll Forward]	'
Accrued Restructuring at Start of Period	392
Cash payments and other settlements	-392
Accrued Restructuring at End of Period	0
Moving and Shipping Costs [Member]	'
Restructuring Reserve [Roll Forward]	'
Accrued Restructuring at Start of Period	99
Cash payments and other settlements	-4
Accrued Restructuring at End of Period	95
Operating Activities [Member]	'
Restructuring Reserve [Roll Forward]	'
Accrued Restructuring at Start of Period	11
Cash payments and other settlements	-11
Accrued Restructuring at End of Period	$0

Net_Loss_Per_Share_Schedule_of

Net Loss Per Share (Schedule of Basic and Diluted Loss Per Share) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Numerator	'	'	'	'
Net loss from continuing operations	($7,243)	($2,087)	($12,425)	($2,818)
Net income from discontinued operations	20	0	1,137	0
Net loss	($7,223)	($2,087)	($11,288)	($2,818)
Denominator	'	'	'	'
Weighted average common shares outstanding used to compute net loss per share, basic and diluted	15,539,053	643,674	15,480,469	640,465
Net loss per share of common stock, basic and diluted	'	'	'	'
Net loss per share from continuing operations	($0.46)	($3.24)	($0.80)	($4.40)
Net income per share from discontinued operations	$0	$0	$0.07	$0
Net loss per share	($0.46)	($3.24)	($0.73)	($4.40)

Net_Loss_Per_Share_Schedule_of1

Net Loss Per Share (Schedule of Antidilutive Securities Excluded From Earnings Per Share) (Details)	0 Months Ended	3 Months Ended		6 Months Ended
	Jul. 15, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'	'
Antidilutive securities excluded from computation of earnings per share, amount	'	2,670,229	5,441,178	2,682,915	5,558,805
Conversion of notes payable and interest accrued excluded from diluted earnings per share	186,217	'	'	'	'
Convertible Preferred Stock [Member]	'	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'	'
Antidilutive securities excluded from computation of earnings per share, amount	'	0	4,840,324	0	4,840,324
Convertible Preferred Stock [Member] | Warrants [Member]	'	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'	'
Antidilutive securities excluded from computation of earnings per share, amount	'	0	16,494	0	21,386
Common Stock [Member] | Warrants [Member]	'	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'	'
Antidilutive securities excluded from computation of earnings per share, amount	'	938,882	131,462	938,882	131,462
Common Stock [Member] | Stock Options [Member]	'	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'	'
Antidilutive securities excluded from computation of earnings per share, amount	'	1,731,347	452,898	1,744,033	565,633

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'	'	'	'
Rent expense	$52	$38	$104	$74
Future Minimum Payments Due by Fiscal Year Maturity [Abstract]	'	'	'	'
2014 (Six Months)	113	'	113	'
2015	38	'	38	'
Total	$151	'	$151	'

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], IPO [Member], Common Stock [Member], USD $)	0 Months Ended
	Jul. 10, 2014	Jul. 10, 2014
Subsequent Event [Member] | IPO [Member] | Common Stock [Member]	'	'
Subsequent Event [Line Items]	'	'
Stock issued (in shares)	4,200,000	'
Share price	'	$6
Gross proceeds from stock offering	$25,200,000	'
Underwriting discount and other offering expenses	'	$1,500,000