Tobira Therapeutics Inactive 10-Q8 Nov 132013 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2013	Nov. 07, 2013
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'RGDO	'
Entity Registrant Name	'REGADO BIOSCIENCES INC	'
Entity Central Index Key	'0001311596	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	21,310,614

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Current assets:	'	'
Cash and cash equivalents	$43,456	$14,764
Restricted cash	82	82
Prepaid expenses	5,089	257
Other assets	4,747	4,580
Total current assets	53,374	19,683
Debt issuance costs, net	44	87
Property and equipment, net	102	66
Intangible assets, net	2,002	1,771
Other non-current assets	2,051	196
Total assets	57,573	21,803
Current liabilities:	'	'
Accounts payable	424	203
Accrued expenses	5,028	786
Warrant liability	23	'
Current portion of long-term debt	500	2,571
Total current liabilities	5,975	3,560
Long-term debt	3,906	1,929
Total liabilities	9,881	5,489
Commitments (Note 4)	'	'
Stockholders' equity:	'	'
Common stock, $0.001 par value; 500,000,000 shares authorized; 21,303,012 and 221,272 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	21	'
Additional paid-in-capital	178,519	4,804
Deficit accumulated during the development stage	-130,848	-110,540
Total stockholders' equity	47,692	16,314
Total liabilities and stockholders' equity	57,573	21,803
Series A Convertible Preferred Stock [Member]	'	'
Stockholders' equity:	'	'
Convertible preferred stock	'	5,778
Series B Convertible Preferred Stock [Member]	'	'
Stockholders' equity:	'	'
Convertible preferred stock	'	19,888
Series C Convertible Preferred Stock [Member]	'	'
Stockholders' equity:	'	'
Convertible preferred stock	'	22,978
Series D Convertible Preferred Stock [Member]	'	'
Stockholders' equity:	'	'
Convertible preferred stock	'	51,237
Series E Preferred Stock [Member]	'	'
Stockholders' equity:	'	'
Convertible preferred stock	'	$22,169

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	21,303,012	221,272
Common stock, shares outstanding	21,303,012	221,272
Series A Convertible Preferred Stock [Member]	'	'
Convertible preferred stock, par value	$0.00	$0.00
Convertible preferred stock, shares designated	0	5,798,178
Convertible preferred stock, shares issued	0	5,798,178
Convertible preferred stock, shares outstanding	0	5,798,178
Convertible preferred stock, liquidation preference	'	$5,798
Series B Convertible Preferred Stock [Member]	'	'
Convertible preferred stock, par value	$0.00	$0.00
Convertible preferred stock, shares designated	0	16,666,665
Convertible preferred stock, shares issued	0	16,666,665
Convertible preferred stock, shares outstanding	0	16,666,665
Convertible preferred stock, liquidation preference	'	20,000
Series C Convertible Preferred Stock [Member]	'	'
Convertible preferred stock, par value	$0.00	$0.00
Convertible preferred stock, shares designated	0	17,037,037
Convertible preferred stock, shares issued	0	17,037,037
Convertible preferred stock, shares outstanding	0	17,037,037
Convertible preferred stock, liquidation preference	'	23,000
Series D Convertible Preferred Stock [Member]	'	'
Convertible preferred stock, par value	$0.00	$0.00
Convertible preferred stock, shares designated	0	71,666,667
Convertible preferred stock, shares issued	0	71,666,667
Convertible preferred stock, shares outstanding	0	71,666,667
Convertible preferred stock, liquidation preference	'	51,600
Series E Preferred Stock [Member]	'	'
Convertible preferred stock, par value	$0.00	$0.00
Convertible preferred stock, shares designated	0	31,437,442
Convertible preferred stock, shares issued	0	31,437,442
Convertible preferred stock, shares outstanding	0	31,437,442
Convertible preferred stock, liquidation preference	'	$22,635

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended		142 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Consolidated Statements Of Comprehensive Loss [Abstract]	'	'	'	'	'
Grant revenue	'	'	'	'	$832
Total revenue	'	'	'	'	832
Operating expenses:	'	'	'	'	'
Research and development	-9,597	-1,607	-15,594	-6,519	-97,555
General and administrative	-1,614	-974	-4,240	-3,368	-35,138
Total operating expenses	-11,211	-2,581	-19,834	-9,887	-132,693
Loss from operations	-11,211	-2,581	-19,834	-9,887	-131,861
Other (expense) income:	'	'	'	'	'
Realized gain on investments	'	'	'	'	176
Interest income	2	1	71	4	2,869
Interest expense	-146	-137	-545	-438	-2,032
Other expense	-60	'	'	'	'
Total other (expense) income	-204	-136	-474	-434	1,013
Net loss	-11,415	-2,717	-20,308	-10,321	-130,848
Comprehensive loss	($11,415)	($2,717)	($20,308)	($10,321)	($130,848)
Loss per share - basic and diluted	($1.43)	($12.28)	($7.18)	($46.64)	($356.09)
Weighted-average common shares - basic and diluted	8,005,142	221,272	2,828,757	221,272	367,455

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended		142 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Cash flows from operating activities:	'	'	'
Net loss	($20,308)	($10,321)	($130,848)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'
Depreciation	41	32	2,344
Amortization of patents and licenses	75	302	1,863
Impairment of patents	10	8	174
Accrued final bank fee	33	'	33
Amortization of debt discount	37	'	37
Amortization of debt issuance costs	100	27	148
Change in fair value of warrant liability	-56	'	-56
Stock-based compensation	346	578	4,957
Loss on disposal of property and equipment	'	'	59
Gain on sale of investments	'	'	-176
Other	64	'	64
Changes in operating assets and liabilities:	'	'	'
Prepaid expenses	-4,832	-164	-5,175
Other assets	-244	-1,700	-4,738
Other non-current assets	-1,855	'	-2,051
Accounts payable	221	-116	424
Accrued expenses	4,242	786	4,964
Net cash used in operating activities	-22,126	-10,568	-127,977
Cash flows from investing activities:	'	'	'
Change in restricted cash	'	'	-82
Purchase of property and equipment	-77	-14	-2,508
Proceeds received on disposal of property and equipment	'	'	5
Purchase of investments	'	'	-163,683
Proceeds from sales of investments	'	'	163,859
Patent and license acquisition costs	-415	-257	-4,138
Proceeds received from sale of patents	100	'	100
Net cash used in investing activities	-392	-271	-6,447
Cash flows from financing activities:	'	'	'
Proceeds from borrowing on convertible notes payable	'	6,781	14,902
Proceeds from borrowings on bank loan and other notes payable	4,500	'	9,000
Repayment of other notes payable	-4,500	-1,072	-4,500
Payment of bank origination fee	-85	'	-85
Payment of debt issuance costs	-57	-28	-193
Proceeds from issuance of common stock in IPO, net of underwriting discounts	43,418	'	43,418
Proceeds from issuance of common stock	'	'	191
Payment of IPO costs	-2,231	'	-2,231
Proceeds from sale of preferred stock, net of issuance costs	10,163	-53	117,351
Proceeds from exercise of warrants	2	'	27
Net cash provided by financing activities	51,210	5,628	177,880
Net increase (decrease) in cash and cash equivalents	28,692	-5,211	43,456
Cash and cash equivalents, beginning of period	14,764	9,235	'
Cash and cash equivalents, end of period	43,456	4,024	43,456
Supplemental disclosures of cash flow information:	'	'	'
Cash paid for interest	465	447	1,286
Supplemental disclosure of non-cash investing and financing activities:	'	'	'
Conversion of preferred stock into common stock	132,213	'	132,213
Conversion of note payable and interest into preferred stock	'	'	15,151
Stock issued for cash held in escrow	'	'	$5,155

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Organization Consolidation and Presentation of Financial Statements [Abstract]	'
Organization and Basis of Presentation	'
	1	Organization and Basis of Presentation
	Organization; Description of Business
	Regado Biosciences, Inc. (the “Company” or “we” or “our” or “us”) is a development stage enterprise incorporated in the State of Delaware on December 19, 2011 operating primarily in Basking Ridge, New Jersey and Durham, North Carolina. We are focused on the discovery and development of novel, first-in-class, actively controllable antithrombotic drug systems for acute and sub-acute cardiovascular indications. Each of our product candidates consists of a two-component system: an antithrombotic aptamer and its specific active control agent. Our lead product candidate, REG1, is a two-component system consisting of pegnivacogin, an anticoagulant aptamer specifically targeting coagulation Factor IXa, and its complementary oligonucleotide active control agent, anivamersen. REG1 is being developed for use in patients with a wide variety of acute coronary syndromes, or ACS, undergoing a percutaneous coronary intervention, or PCI, a hospital-based procedure used to mechanically open or widen obstructed coronary arteries. Our actively controllable product candidates have the potential to improve patient outcomes, enhance the patient experience and reduce overall treatment costs. In September 2013, we commenced our single, open-label, 13,200 subjects Phase 3 trial of REG1 in patients undergoing PCI (excluding ST elevated myocardial infarction, or STEMI), or the REGULATE-PCI trial.
	Reverse Stock Split
	In May 2013, our board of directors and our stockholders approved an amendment to the amended and restated certificate of incorporation to effect a one-for-16.7 reverse split of shares of common stock and to increase the number of authorized shares of common stock to 500,000,000, each of which was effected on May 21, 2013.
	Initial Public Offering
	We completed our initial public offering (“IPO”) in August 2013. Inclusive of the underwriters’ exercise of the over-allotment option in connection with the IPO in September 2013, we issued 11,671,500 shares of common stock at a price of $4.00 per share, resulting in net proceeds of approximately $41.1 million, after deducting underwriting discounts of $3.3 million and offering costs of $2.3 million. Upon the closing of the IPO, all shares of convertible preferred stock then outstanding automatically converted into an aggregate of 9,396,767 shares of common stock.
	Principles of Consolidation
	In March 2013, we incorporated Regado Biosciences Europe Limited, a wholly owned subsidiary registered in England and Wales, in order to establish a legal presence in the European Union (EU) for the purpose of conducting clinical trials in the EU. Regado Biosciences Europe Limited had no operations for the three and nine months ended September 30, 2013.
	The accompanying consolidated financial statements include the accounts of Regado Biosciences, Inc. and its wholly owned subsidiary, Regado Biosciences Europe Limited. There were no significant intercompany accounts or transactions that needed to be eliminated in consolidation.
	Basis of Accounting and Going Concern Uncertainty
	Our financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. Operations since inception have consisted primarily of developing and acquiring product technologies and securing financing.
	The accompanying financial statements have been prepared assuming that we will operate as a going concern. We have suffered negative cash flows from operating activities of $22.1 million during the nine months ended September 30, 2013 and a net accumulated deficit of $130.8 million since inception as of September 30, 2013. Prior to our IPO, we were funded primarily through the issuance of preferred stock and debt. We will require additional capital until such time that we can generate operating revenue in excess of operating expenditures. Our plans include continued product development and a move toward completion of clinical trials. We will continue to closely monitor and analyze expenses and make adjustments as necessary to prioritize business operations. We believe that the net proceeds from the IPO will be sufficient for us to fund the REGULATE-PCI trial through the first interim analysis, which we expect will occur by the beginning of the second quarter of 2014, and to fund our operations through the second quarter of 2014. We will need to raise additional financing in the first half of 2014 to fund projected operations through 2014 and we can provide no assurances that such additional financing will be available on favorable terms, or at all. Actual results may differ from estimates and the financial statements do not include any adjustments that might be necessary if we are unable to fund operations.

	Unaudited Interim Financial Data
	The accompanying interim consolidated financial statements are unaudited. These unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information under Article 210.8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These unaudited interim consolidated financial statements should be read in conjunction with the audited financial statements and the accompanying notes for the year ended December 31, 2012 included in our final prospectus dated August 22, 2013 filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the Securities and Exchange Commission on August 22, 2013. The unaudited interim consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments (consisting of normal recurring adjustments) necessary to state fairly our financial position as of September 30, 2013; the results of our operations for the three and nine months ended September 30, 2013 and 2012 and for the period from inception through September 30, 2013; and our cash flows for the nine months ended September 30, 2013 and 2012 and for the period from inception through September 30, 2013. The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the operating results for the full year or any other interim period.

Summary_of_Significant_Account

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2013

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with U.S. 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.

Reclassifications

We have reclassified supplies inventory, net to other current assets in the accompanying consolidated balance sheet at December 31, 2012. This reclassification did not have any impact on our loss from operations or net loss for the three or nine months ended September 30, 2012, or on total assets as of December 31, 2012.

We have reclassified all laboratory and clinical indirect costs and stock compensation costs for laboratory and clinical personnel, for the three and nine months ended September 30, 2012, and for the period from inception through December 31, 2012, from general and administrative expense to research and development expense in the accompanying consolidated statements of comprehensive loss. These reclassifications did not have any impact on our loss from operations or net loss for the three or nine months ended September 30, 2012, or for the period from inception through December 31, 2012.

We have reclassified patent and product license amortization and patent impairment costs for the three and nine months ended September 30, 2012, and for the period from inception through December 31, 2012, from general and administrative expense to research and development expense in the accompanying consolidated statements of comprehensive loss. These reclassifications did not have any impact on our loss from operations or net loss for the three or nine months ended September 30, 2012, or for the period from inception through December 31, 2012.

Fair Value of Financial Instruments

The carrying amount of certain of our financial instruments, including cash and cash equivalents, prepaid expenses, and accounts payable approximate fair value due to the short maturities of those financial instruments. The carrying amount of our debt at September 30, 2013 and December 31, 2012 approximated fair value. The estimated fair value of our debt at September 30, 2013 and December 31, 2012, respectively, was determined based on available market information for alternative financing under similar terms. In conjunction with the refinancing of our long term debt in May 2013, we held a warrant liability at September 30, 2013 that is required to be measured at fair value on a recurring basis (see Note 3).

Our valuation of financial instruments is based on a three-tiered approach, which requires that fair value measurements be classified and disclosed in one of three tiers. These tiers are: Level 1, defined as quoted prices in active markets for identical assets or liabilities; Level 2, defined as valuations based on observable inputs other than those included in Level 1, such as quoted prices for similar assets and liabilities in active markets, or other inputs that are observable or can be corroborated by observable input data; and Level 3, defined as valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants.

Cash and Cash Equivalents

We consider all interest-bearing investments due on demand and all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents included cash of $253,000 and $235,000 at September 30, 2013 and December 31, 2012, respectively. Cash and cash equivalents at September 30, 2013 and December 31, 2012 also included investments of $43.2 million and $14.5 million, respectively, in money market funds invested in U.S. Treasury securities with original maturities of less than three months. Cash deposits are held in federally insured financial institutions in the United States of America. We maintain cash in accounts which are in excess of federally insured limits.

Significant Concentrations

The financial instruments that potentially subject us to concentrations of credit risk are cash and cash equivalents. Our cash and cash equivalents are maintained primarily with two financial institutions.

We do not have a manufacturing infrastructure and do not intend to develop one for the foreseeable future . We have agreements with third-party contract manufacturing organizations, or CMOs, to supply bulk drug substances for our product candidates and with third parties to formulate, package and distribute our drug product candidates. Our employees include professionals with expertise in pharmaceutical manufacturing development who oversee the manufacture and distribution of our drug product candidates by third-party companies. We believe that we have sufficient amounts of REG1 on hand to complete a minimum of 50% enrollment in the REGULATE-PCI trial. All of the drug substances used in our product candidates are manufactured by single suppliers. While we have not experienced any supply disruptions, the number of oligonucleotide manufacturers is limited. In the event it is necessary or advisable to acquire supplies from an alternative supplier, we might not be able to obtain them on commercially reasonable terms, if at all. It could also require significant time and expense to redesign our manufacturing processes to work with another company. Formulation and distribution of our finished drug product candidates are also conducted by a single supplier but we believe that alternative sources for these services are readily available on commercially reasonable terms (see Note 4).

Clinical Trial Supplies

We capitalize materials that will be used in our REG I clinical trials that also have an alternative future use in either ongoing or future clinical research and development projects. Clinical trial supplies may comprise material used to manufacture active pharmaceutical ingredients (“API”) used to develop our product candidates, in-process or completed API, in-process or completed unlabeled finished drug product and labeled finished drug product. Clinical trial supplies are stated at the lower of cost or market, using the first-in, first-out method (“FIFO”), and are reported in the accompanying consolidated balance sheets in other current assets. Clinical trial supplies that are determined to be unsuitable for future use are immediately expensed; otherwise clinical trial supplies are expensed when shipped to clinical sites for use in clinical studies or when used in other research and development projects.

We utilize CMOs to produce API and finished drug product for use in clinical trials. As we do not have facilities that meet the requisite regulatory requirements for storage of API or finished drug product produced, we use a third-party facility for storage. Upon release from the manufacturer, API is shipped to a third-party storage facility. For production of finished drug product, API is shipped from the storage facility to the finished drug product manufacturing site. Unlabelled finished drug product is either shipped from the manufacturer back to the third-party storage facility or directly to the third-party labeling site. Labeled finished drug product is held by the third-party labeling site until it is shipped to the clinical sites for trial use.

We do not have multiple sources of supply for the components of our finished drug product. If we are unable to obtain the supplies needed at a reasonable price or on a timely basis, it could have a material adverse effect on our ability to complete the development of our finished drug product.

As of September 30, 2013 clinical trial supplies included in other current assets were $4.7 million, of which $1.5 million and $3.2 million represented API held at the third-party storage facility and drug product located at depots, respectively. As of December 31, 2012, clinical trial supplies included in other current assets were $4.5 million which represented API held at the third-party storage facility.

Clinical Agreements

We enter into various clinical trial agreements with academic research organizations (“AROs”) and clinical research organizations (“CROs”) for the planning, management and execution of clinical trials. The financial terms of these agreements are subject to negotiation, vary from contract to contract, and may result in uneven payment flows. The majority of our service providers invoice us monthly in arrears for services performed or when contractual milestones are met. Costs for ARO and CRO contracts are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided by vendors on their actual costs incurred; such costs are charged to research and development expense in the accompanying consolidated statement of comprehensive loss. There may be instances in which payments made to our vendors will exceed the level of services provided and result in a prepayment of the research and development expense. Upfront refundable contract signing fees are amortized over the life of the respective contract; unamortized contract signing fees are included in other non-current assets.

Included in the accompanying consolidated balance sheet as of September 30, 2013 are $2.7 million of prepaid costs that will be applied to final invoices as required under the respective contract, and $1.9 million of other non-current assets which represent upfront contract signing costs that will be amortized over the life of the respective contract, or approximately three years.

In general, our ARO and CRO service agreements permit either party to terminate at will, although we would continue to be responsible for payment of all services completed (or pro-rata completed) at the time of notice of termination, plus any non-cancellable expenses that have been entered into by the ARO and CRO on the Company’s behalf. Accordingly, such expenses would be accrued at time of contract termination and any prepaid expenses and unamortized advance payments would be expensed, accordingly.

Intangibles

The following information details the carrying amounts and accumulated amortization of our intangible assets subject to amortization (in thousands):

As of September 30, 2013

As of December 31, 2012

Weighted

Gross

Accumulated

Net

Gross

Accumulated

Net

Average

Carrying

Amortization

Carrying

Amortization

Carrying

Useful Life

Amount

Remaining

Identifiable intangible assets:

Patents

8.1 years

1,706

(446

)

1,260

1607

(349

)

1,258

Product licenses

2.1 years

1,554

(1,417

)

137

1,547

(1,439

)

108

Total

7.9 years

3,260

(1,863

)

1,397

3,154

(1,788

)

1,366

Expected future amortization expenses for intangible assets as of September 30, 2013 are as follows:

For the year ending December 31:

Amount

2013

2014

157

2015

149

2016

149

2017

149

Thereafter

753

1,397

We record amortization of patent and product license costs in research and development expense in the accompanying consolidated statements of comprehensive loss.

Patents

Patent costs consist of expenditures incurred for various patent applications. Upon receiving a patent grant, such respective costs are amortized over the remaining life of the patent. As of September 30, 2013 and December 31, 2012, we had $605,000 and $405,000 of costs related to patents that have not yet been granted.

The impairment of patents occurs when a patent that has been applied for becomes expired or abandoned. Once the status of the patent changes to expired or abandoned, the associated costs for the patent application are expensed to research and development in the accompanying consolidated statements of comprehensive loss. Patent impairment expense recorded was $0 and $3,000 for the three months ended September 30, 2013 and 2012, respectively, and $10,000 and $8,000 for the nine months ended September 30, 2013 and 2012, respectively, and $174,000 for the period from inception to September 30, 2013.

Product Licenses

We have primary license agreements with Duke University, Archemix Corp. and Nektar Therapeutics AL and all of the licenses are being amortized over the stated contractual life.

Grant Revenue

We were awarded several grants under the Therapeutic Discovery Project Grant program during 2010, related to research amounts previously expensed and have historically received modest other grant funding. The total amount recognized within Grant Revenue on the consolidated statement of comprehensive loss was $0 for the three and nine months ended September 30, 2013 and 2012, respectively, and $832 for the period from inception to September 30, 2013.

Stock-based Compensation

We grant stock options to employees and non-employees with an exercise price equal to fair market value, as defined in the Equity Compensation Plan.

In accordance with FASB ASC Topic 718, Stock Compensation, as modified or supplemented, we measure compensation cost for share-based payment awards granted to employees and non-employee directors at fair value using the Black-Scholes option-pricing model. We recognize compensation expense on a straight-line basis over the service period for awards expected to vest. Share-based compensation cost related to share-based payment awards granted to non-employees is adjusted each reporting period for changes in the fair value of our common stock until the measurement date. The measurement date is generally considered to be the date when all services have been rendered or the date that options are fully vested. Expense is recognized over the related service period.

Research and Development

Research and development expenses consist of the costs associated with our research and discovery activities, conducting preclinical studies and clinical trials and activities related to regulatory filings. Research and development expenses consist of:

•

employee salaries and related expenses, which include compensation benefits for the personnel involved in drug discovery and development activities, including stock based compensation;

•

external research and development expenses incurred under agreements with third party AROs and CROs and investigative sites (see Note 2—Clinical Agreements);

•

clinical trial supplies when used or upon determination that they have no alternative future use, and clinical trial supplies shipped to clinical sites for use in clinical studies (see Note 2—Clinical Trial Supplies);

•

patent and product license amortization, and license fees for and milestone payments related to in-licensed products and technologies; and

•

overhead costs related to facilities, depreciation, research and development management, and research and development support services and supplies.

Conducting a significant amount of research and development is central to our business model. Product candidates in late stages of clinical development generally have higher development costs than those in earlier stages of clinical development, primarily due to the increased size and duration of late stage clinical trials. We plan to increase research and development expenses for the foreseeable future as we seek to complete the development of our lead product candidate, REG1.

Recent Accounting Pronouncements

Section 107 of the Jumpstart our Business Startups Act of 2012, or the JOBS Act, provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, for complying with new or revised accounting standards. In other words, an “emerging growth company” can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. However, we are choosing to “opt out” of such extended transition period, and as a result, we will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. Section 107 of the JOBS Act provides that our decision to opt out of the extended transition period for complying with new or revised accounting standards is irrevocable.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	9 Months Ended
Fair Value of Financial Instruments	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	3	Fair Value of Financial Instruments
	The following table (in thousands) sets forth our assets and liabilities that were measured at fair value on a recurring basis at September 30, 2013 and December 31, 2012 by level within the fair value hierarchy. As required by ASC 820-10, assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.


			As of September 30, 2013									As of December 31, 2012
	Assets and Liabilities		Quoted Prices			Significant		Significant		Balance as of		Quoted Prices		Significant		Significant		Balance at
			In Active			Other		Unobservable		September 30,		In Active		Other		Unobservable		December 31,
			Markets for			Observable		Inputs		2013		Markets for		Observable		Inputs		2012
			Identical			Inputs		(Level 3)				Identical		Inputs		(Level 3)
			Assets			(Level 2)						Assets		(Level 2)
			(Level 1)									(Level 1)
	Assets:
	Money market funds		$	43,202		$	—	$	—	$	43,202	$	14,529	$	—	$	—	$	14,529

	Total assets at fair value		$	43,202		$	—	$	—	$	43,202	$	14,529	$	—	$	—	$	14,529

	Liabilities:
	Warrant liability		$	—		$	—	$	23	$	23	$	—	$	—	$	—	$	—

	Total liabilities at fair value		$	—		$	—	$	23	$	23	$	—	$	—	$	—	$	—

	The change in the fair value measurement using significant unobservable inputs (Level 3) is summarized below (in thousands):


	Balance at December 31, 2012		$	—

	Allocation of long-term debt proceeds to warrant (Unaudited)			79

	Change in fair value recorded as interest income (Unaudited)			(65	)
	Change in fair value recorded as interest expense (Unaudited)			9

	Balance at September 30, 2013 (Unaudited)		$	23

	The warrant liability represents our allocation of a portion of the proceeds from the May 2013 Comerica Loan (as defined in Note 6). The allocation of the proceeds from the Comerica Loan was based on the fair value of the warrant liability on the date of grant. We accounted for the warrant liability in accordance with ASC Topic 815, Derivatives and Hedging, which requires that equity contracts not indexed to the issuer’s own stock and not meeting the definition of a derivative should be reported as an asset or liability. We utilized the Binomial pricing model to determine the fair value of the warrant liability. We record changes in the fair value of the warrant liability as interest expense or interest income, as applicable.
	We used significant assumptions in estimating the fair value of the warrant liability including the estimated volatility, risk free interest rate, estimated fair value of the preferred shares, and the estimated life of the warrant. These assumptions were used to establish an expected set of cash flows which were probability-weighted and discounted to present value to determine a fair value.

Commitments

Commitments	9 Months Ended
	Sep. 30, 2013
Commitments And Contingencies Disclosure [Abstract]	'
Commitments	'
	4	Commitments
	Supply and Manufacturing Agreements
	We have agreements with CMOs, to supply bulk drug substances for our product candidates and with third parties to formulate, package and distribute our drug product candidates(see Note 2—Significant Concentrations).
	In July 2006, we entered into a supply and service agreement with Agilent Technologies, Inc., which was amended in July 2011, for the manufacture of pegnivacogin and anivamersen bulk drug substance for use in the clinical development of REG1. Drug substances are manufactured pursuant to a Good Manufacturing Practices and a Quality Agreement entered into in May 2010. Manufacture of bulk drug substance lots is on a purchase order basis, with no minimum purchase obligation.
	In December 2006, we entered into a license, manufacturing and supply agreement with Nektar Therapeutics, or Nektar, for the supply of polyethylene glycol, or PEG, used in the manufacture of pegnivacogin. We must provide Nektar with a rolling forecast of our anticipated requirements for the succeeding six quarters, with respect to precommercial supply, or eight quarters, with respect to commercial supply, with a required lead time to commit to and guarantee availability of the reagent at an agreed upon pricing structure, which is subject to revision on an annual basis. In addition, we have agreed to pay Nektar specific development and commercial milestones and a specific royalty on product sales (see Milestone and Other Obligations below).
	In March 2012, we entered into a clinical supply agreement with Althea Technologies, Inc., for the formulation and primary packaging of pegnivacogin and anivamersen for use in our clinical trials. Drug products are manufactured and the packaging is conducted pursuant to a Good Manufacturing Practices and a Quality Agreement entered into in January 2012. Formulation and packaging services are provided on a purchase order basis, with no minimum purchase obligation.
	Clinical Agreements
	We have various clinical trial agreements with AROs and CROs for the planning, management and execution of clinical trials. The financial terms of these agreements are subject to negotiation, vary from contract to contract, and may result in uneven payment flows. These contracts generally provide for termination on notice (see Note 2—Clinical Agreements).
	Milestone and Other Obligations
	Upon the commencement of our REGULATE-PCI trial which occurred in September 2013, we were obligated to make milestone payments of $500,000 to Duke University, or Duke, and $1.0 million to Archemix Corporation, or Archemix. Such amounts are included in accrued expenses in the accompanying balance sheet as of September 30, 2013 and in research and development expense in the accompanying statement of comprehensive loss for the three and nine month periods ended September 30, 2013. In addition, upon the filing of a new drug application, we are obligated to make additional milestone payments to Duke, Archemix and Nektar Therapeutics AL, Corporation. Given the uncertainty of the drug development process, we cannot be certain when, if ever, we will be required to make these milestone payments.
	As a condition of closing the Series E Preferred Stock financing in December 2012, we assigned all intellectual property (“IP”) rights and titles in Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan ( the “Covered Territory”) to Domain Russia Investments Limited (“DRI”). Additionally, we agreed to assist an affiliate of DRI with certain development support related to the development of the IP. Concurrently with the signing of this agreement, we agreed to make a payment to DRI up to a maximum amount of $1.2 million based on an independent appraiser’s valuation of the IP rights transferred. Such independent appraiser’s valuation was received during 2013, the result of which confirmed that we do not have any further obligation pursuant to this agreement.
	License Agreements
	In December 2012, in connection with its Series E Preferred Stock financing, we entered into a Technology Transfer Agreement, or the Tech Transfer Agreement, with DRI. In accordance with the terms of the Tech Transfer Agreement, in May 2013 we entered into a Clinical Development and Collaboration Agreement with NovaMedica pursuant to which we agreed to assist NovaMedica in the development and commercialization of our product candidates in the Covered Territory, as defined. NovaMedica is required to reimburse us for any out-of-pocket expenses incurred by us in providing this assistance, including travel-related expenses.

	Operating Leases
	We maintain three separate office locations. On May 1, 2013, we entered into a lease agreement for 1,657 square feet of administrative office space located in Durham, North Carolina (the “Durham Office Lease”). The lease is for 36 months with annual lease obligations of $39,000, $40,000 and $41,000 for years one through three, respectively. We had rented an administrative office space in Cary, North Carolina under an operating lease agreement effective December 2012, with base monthly payments at $2,000 per month. The six month lease expired in May 2013 and was replaced with the Durham Office Lease. In April 2007, we entered into an operating lease for laboratory space in Durham, North Carolina. The lease expired July 31, 2012, and we are currently on a month-to-month basis with base rent of $11,000 per month. An initial letter of credit of $115,000 was given to the lessor for use of the facility, and the letter of credit was reduced to $46,000 on the fourth anniversary date of the lease. In November 2008, an operating lease was entered into for corporate headquarters in Basking Ridge, New Jersey. The lease expired on November 1, 2011 and is currently on a month-to-month basis. Monthly payments are fixed at $16,000 per month, with an additional $1,000 per month due for utilities.
	Rent expense related to operating leases was $114,000 and $130,000 for the three months ended September 30, 2013 and 2012, respectively, $347,000 and $367,000 for the nine months ended September 30, 2013 and 2012, respectively, and $2.8 million for the period from inception to September 30, 2013.
	Severance
	Selected executive employees of ours have employment or severance agreements which provide for severance payments of up to two times base salary, bonuses and benefits upon termination, depending on the reasons for the termination. Certain other employees of ours have employment or severance agreements which generally provide for six months severance, including base salary, bonuses and benefits upon termination, depending on the reasons for the termination. All employees would be required to execute a release and settlement agreement.
	Effective September 26, 2013, we reduced our workforce by eliminating 5 of our 32 full-time employees. The majority of the affected employees worked in drug discovery roles at our laboratory facility in North Carolina. The goal of our reduction in workforce was to enable us to focus management and financial resources on advancing our lead product candidate, REG1, in our REGULATE-PCI trial. In connection with the reduction in workforce, in the third quarter of 2013 we recorded an accrual of approximately $250,000 for incurred severance costs which were charged to research and development expense in the accompanying consolidated statement of comprehensive loss for the three and nine months ended September 30, 2013.

Accrued_Expenses

Accrued Expenses	9 Months Ended
Accrued Expenses	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Accrued Expenses	'
	5	Accrued Expenses
	The components of accrued expenses are as follows (in thousands):


			September 30,		December 31,
			2013		2012
	Accrued license milestones		$	1,500	$	—
	Accrued obligations under clinical contracts			1,640		—
	Accrued legal and professional services			110		14
	Accrued interest			24		40
	Accrued compensation and benefits			1,646		478
	Deferred revenue			—		100
	Accrued expenses, other			108		154

	Total accrued expenses		$	5,028	$	786

Longterm_Debt

Long-term Debt	9 Months Ended
Long-term Debt	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Long-term Debt	'
	6	Long-term Debt
	In May 2011, we entered into a loan and security agreement with MidCap Financial SBIC, LP pursuant to which we borrowed a total of $6.0 million, at the stated rate of LIBOR, at a 2% rate floor, plus 8% spread per annum. The loan was payable in monthly installments beginning September 2012 through August 2014. Our assets (including intellectual property) were collateral for the borrowings, and we were required to pay a 3% final payment of $180,000 regardless of when the loan was paid in full.
	On May 13, 2013, we secured a venture debt loan with Comerica Bank (the “Comerica Loan”). We borrowed $4.5 million (“Tranche One”), and the proceeds of the loan were utilized to repay all amounts due to MidCap Financial SBIC, LP. The terms allow for an interest only period of 15 months at a rate of 7.25%, and the remaining principal and interest will be repaid starting September 2014 over a nine-month period (24 months in total). Maturities for 2014 and 2015 are $2.0 million and $2.5 million, respectively. Upon (i) Comerica’s receipt of evidence satisfactory to Comerica that the 1,000 patient interim analysis in the REGULATE-PCI study is successful and performed by April 30, 2014 and (ii) our completion of the IPO and receipt of net proceeds of at least $50.0 million prior to June 30, 2013, we had the option to borrow an additional $4.0 million in the second tranche, or (“Tranche Two”). Since the latter of the Tranche Two conditions was not satisfied, Tranche Two is solely at the discretion of Comerica.
	Interest expense recorded related to the Comerica Loan was $138,000 and $211,000 for the three and nine months ended September 30, 2013, respectively, and $211,000 for the period from inception to September 30, 2013. Interest expense recorded related to the MidCap Loan was $0 and $138,000 for the three months ended September 30, 2013 and 2012, respectively, $325,000 and $439,000 for the nine months ended September 30, 2013 and 2012, respectively, and $1.2 million for the period from inception to September 30, 2013.
	In connection with the funding of Tranche One, we issued to Comerica a warrant to purchase 156,250 shares of the Series E Preferred Stock at a price of $0.72 per share, or the Warrant Price, subject to adjustment for stock splits, combinations, reclassifications or exchanges and certain dilutive issuances. After giving effect to our IPO and reverse stock split, the warrant was adjusted to a warrant to purchase 9,356 shares of our common stock at a price of $12.02 per share (see Note 3).
	If we had borrowed the additional $4.0 million in Tranche Two, the warrant would have become exercisable for an additional number of shares of the Series E Preferred Stock equal to 100,000 divided by the Warrant Price, as defined, subject to adjustment for stock splits, combinations, reclassifications or exchanges and certain dilutive issuances. As previously noted, as we did not complete an IPO by the required milestone date, Tranche Two is solely at the discretion of Comerica.
	Debt consists of (in thousands):


			September 30,			December 31,
			2013			2012
	Long-term debt		$	4,500		$	4,500
	Less - unamortized discount			(127	)		(—	)
	Less - current portion			(500	)		(2,571	)
	Plus - fees due at closing(1)			33			—

	Long-term debt, net		$	3,906		$	1,929


	-1	On the date that all of the principal and interest of the Comerica Loan become due and payable, we must pay an end of term fee of $173,000 (the “Final Fee”). The Final Fee is being accreted to interest expense over the term of the Comerica Loan.
	Included in the consolidated balance sheets within long-term debt are $85,000 in loan origination costs that are being amortized to interest expense over the remaining life of the Comerica Loan using the effective interest rate method.
	In accounting for the Comerica Loan, the loan was separated into debt and warrant liability components. We utilized the Binomial pricing model to determine the fair value of the warrant liability component (see Note 3). The carrying amount of the debt component was determined by deducting the fair value of the warrant liability component from the par value of the Comerica Loan as a whole. The excess of the principal amount of the Comerica Loan component over its carrying amount, referred to as the debt discount, is amortized to interest expense over the term of the loan. The warrant liability component is re-measured at each reporting date and changes in the fair value of the warrant liability are recorded as interest expense or interest income, as applicable.
	In accounting for the transaction costs related to the issuance of the Comerica Loan, we allocated the total costs incurred to the debt and warrant liability components of the Comerica Loan based on their relative values. Transaction costs attributable to the debt component are amortized to interest expense over the term of the Comerica Loan, and transaction costs attributable to the warrant liability component were immediately expensed.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Stockholders' Equity	'
	7	Stockholders’ Equity
	IPO
	We completed our initial public offering (“IPO”) in August 2013. Inclusive of the underwriters’ exercise of the over-allotment option in connection with the IPO in September 2013, we issued 11,671,500 shares of common stock, at a price of $4.00 per share, resulting in net proceeds to us of approximately $41.1 million after deducting underwriting discounts of $3.3 million and offering costs of $2.3 million. Pursuant to the IPO all shares of convertible preferred stock then outstanding automatically converted into an aggregate of 9,396,767 shares of common stock.
	Tranching
	On December 18, 2012, the first tranche of the Series E financing was completed with 31,437,442 preferred shares issued for $22.6 million. This included $15.5 million in cash plus $6.8 million in convertible loan principal and $339,000 in converted loan interest originally secured on May 3, 2012.
	Per the Series E financing agreement executed on December 18, 2012, a second financing tranche of $10.3 million for 14,320,168 shares of Series E preferred stock took place on March 22, 2013. On March 22, 2013 a portion of the second tranche of the Series E financing was completed with 7,160,084 preferred shares issued for $5.2 million. The RMI Investments, S.a.r.l (“RMI”) portion of the second tranche totaling $5.2 million was delivered into an escrow account at the time of the second tranche, and the RMI funds and Series E shares relating to the RMI investment were released on April 26, 2013.
	The agreement also provided that a third financing tranche of $17.8 million for 24,770,476 shares of Series E preferred stock would take place on or before January 17, 2014. However, pursuant to the terms of a Termination Agreement entered into by the parties to the Series E Purchase Agreement, our obligation to sell additional shares of Series E Preferred Stock to the investors and the obligations of the investors to purchase additional shares of Series E Preferred Stock terminated immediately prior to the consummation of the IPO and no additional shares of Series E Preferred Stock will be sold pursuant thereto.
	Reverse Stock Split
	In May 2013, we executed an amendment to our Fifth Amended and Restated Certificate of Incorporation instituting a one–for-16.7 reverse split of common stock and an increase in the number of shares of common stock we are authorized to issue to 500,000,000.
	Warrants
	See Notes 3 and 6 regarding our issuance of a warrant for Series E Preferred Stock in connection with obtaining the Comerica Loan. As of September 30, 2013 and 2012, we had 16,332 and 20,449 of warrants outstanding, respectively, that were exercisable into common shares at a weighted average price of $6.96 and $0.17 per share, respectively, at the option of the warrant holder. During the nine months ended September 30, 2013, a warrant for 13,473 shares of common stock was exercised at an exercise price of $0.17.

Stock_Based_Compensation

Stock Based Compensation	9 Months Ended
Stock Based Compensation	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock Based Compensation	'
	8	Stock Based Compensation
	Equity Compensation Plans
	The 2013 Equity Compensation Plan (the “2013 Plan”) adopted by our Board of Directors in May 2013, became effective upon consummation of the IPO in August 2013. There are 3,342,839 common shares authorized for future issuance under the 2013 Plan of which 558,449 were available as of September 30, 2013. Upon effectiveness of the 2013 Plan, stock options outstanding under the 2004 Equity Compensation Plan (the “2004 Plan”) to acquire 1,365,478 shares of our common stock were assumed under the 2013 Plan, leaving stock options to acquire 34,342 shares of our common stock outstanding under the 2004 Plan. There will be no further awards made under the 2004 Plan.

	Stock Options
	The following table summarizes our aggregate Equity Compensation Plan activity:


			Number of			Weighted Average		Weighted Average		Aggregate
			Options			Exercise Price		Contractual Term		Intrinsic Value(1)
								(in years)
	Outstanding - December 31, 2012			1,409,659

	Granted			1,424,688
	Exercised			—
	Forfeited			(6,747	)
	Expired			(8,868	)

	Outstanding - September 30, 2013			2,818,732		$	5.5		7.8	$	6,259,849

	Exercisable - September 30, 2013			1,265,907		$	7.32		5.3	$	2,020,523

	Vested and expected to vest at September 30, 2013(2)			2,798,327		$	5.51		7.8	$	6,204,320


	-1	Intrinsic value is the excess of the fair value of the underlying common shares as of September 30, 2013 over the weighted-average exercise price.
	-2	The number of stock options expected to vest takes into account an estimate of expected forfeitures.
	We use the Black-Scholes-Merton option pricing model to determine the fair value of our stock options. The determination of the fair value of stock-based payment awards on the date of grant using an option pricing model is affected by our stock price, as well as assumptions regarding a number of complex and subjective variables. These variables include our expected stock price volatility over the term of the awards, risk-free interest rate, actual employee exercise behaviors and expected dividends.
	The following table shows the assumptions used to value stock options on the date of grant, as follows:


			Nine Months Ended
			September 30, 2013
	Expected stock price volatility		43.29-43.34%
	Risk-free interest rate		0.38-1.21%
	Expected life of option (in years)		4-Feb
	Weighted-average grant date fair value per share of options granted		$4.03
	Estimated dividend yield		0.00%
	Expected stock price volatility was calculated based on the weighted-average of historical information of similar public entities. We will continue to use a weighted-average approach using other similar public entities’ volatility information until our historical volatility is relevant to measure expected volatility for future option grants. The risk-free rate was based on the U.S. Treasury yield curve in effect at the time of grant commensurate with the expected life assumption. The average expected life was determined using two experience groups based on anticipated exercise strategy and cancellation behavior for each group. A forfeiture rate of 1% and 0% was used for each experience group respectively. We have not paid and do not anticipate paying cash dividends; therefore, the expected dividend rate was assumed to be 0%.
	Stock-Based Compensation Expense
	Total stock-based compensation expense recognized based on the total grant date fair value of options vested was approximately $141,000 and $158,000 for the three months ended September 30, 2013 and 2012, respectively, and $346,000 and $578,000 for the nine months ended September 30, 2013 and 2012, respectively, and $5.0 million for the period from inception to September 30, 2013.
	As of September 30, 2013, approximately $1.9 million of total unrecognized compensation cost related to unvested share options is expected to be recognized over a weighted-average period of 2.99 years.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	9	Income Taxes
	We estimate an annual effective tax rate of 0% for the year ending December 31, 2013 as the Company incurred losses for the three and nine-month periods ended September 30, 2013 and is forecasting additional losses through the fourth quarter, resulting in an estimated net loss for both financial statement and tax purposes for the year ending December 31, 2013. Therefore, no federal or state income taxes are expected and none have been recorded as of September 30, 2013. Income taxes have been accounted for using the liability method in accordance with FASB ASC 740.
	Due to our history of losses since inception, there is not enough evidence at this time to support that we will generate future income of a sufficient amount and nature to utilize the benefits of its net deferred tax assets. Accordingly, the deferred tax assets have been reduced by a valuation allowance, since it has been determined that it is more likely than not that all of the deferred tax assets will not be realized.

Net_Loss_Per_Share

Net Loss Per Share	9 Months Ended
Net Loss Per Share	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Net Loss Per Share	'
	10	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 for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the weighted-average number of common stock equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of convertible preferred stock, options outstanding under our stock option plan and warrants. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to our net loss position.
	The following table presents the computation of basic and diluted net loss per common share (in thousands, except share and per share data):


			Three Months Ended						Nine Months Ended
			September 30,						September 30,
			2013			2012			2013			2012
	Net loss attributable to common shareholders		$	(11,415	)	$	(2,717	)	$	(20,308	)	$	(10,321	)
	Weighted average common shares outstanding, basic and diluted			8,005,142			221,272			2,828,757			221,272

	Net loss per share attributable to common shareholders, basic and diluted		$	(1.43	)	$	(12.28	)	$	(7.18	)	$	(46.64	)

	Securities that may potentially dilute earnings per share in the future that have not been included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in common equivalent shares):


			Three months ended						Nine months ended
			September 30,						September 30,
			2013			2012			2013			2012
	Convertible preferred stock			—			6,656,799			—			6,656,799
	Common stock options			2,818,732			1,410,415			2,818,732			1,410,415
	Warrants			16,332			20,449			16,332			20,449

	Total			2,835,064			8,087,663			2,835,064			8,087,663

	In August 2013, all convertible preferred stock converted into common stock in conjunction with the consummation of our IPO. As of September 30, 2013 and 2012, we had 16,332 and 20,449 of warrants outstanding, respectively, that were exercisable into common shares at a weighted average price of $6.96 and $0.17 per share, respectively, at the option of the warrant holder.

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2013

Accounting Policies [Abstract]

Reverse Stock Split

In May 2013, our board of directors and our stockholders approved an amendment to the amended and restated certificate of incorporation to effect a one-for-16.7 reverse split of shares of common stock and to increase the number of authorized shares of common stock to 500,000,000, each of which was effected on May 21, 2013.

Initial Public Offering

We completed our initial public offering (“IPO”) in August 2013. Inclusive of the underwriters’ exercise of the over-allotment option in connection with the IPO in September 2013, we issued 11,671,500 shares of common stock at a price of $4.00 per share, resulting in net proceeds of approximately $41.1 million, after deducting underwriting discounts of $3.3 million and offering costs of $2.3 million. Upon the closing of the IPO, all shares of convertible preferred stock then outstanding automatically converted into an aggregate of 9,396,767 shares of common stock.

Principles of Consolidation

In March 2013, we incorporated Regado Biosciences Europe Limited, a wholly owned subsidiary registered in England and Wales, in order to establish a legal presence in the European Union (EU) for the purpose of conducting clinical trials in the EU. Regado Biosciences Europe Limited had no operations for the three and nine months ended September 30, 2013.

The accompanying consolidated financial statements include the accounts of Regado Biosciences, Inc. and its wholly owned subsidiary, Regado Biosciences Europe Limited. All significant intercompany accounts and transactions have been eliminated in consolidation.

Basis of Accounting and Going Concern Uncertainty

Our financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. Operations since inception have consisted primarily of developing and acquiring product technologies and securing financing.

The accompanying financial statements have been prepared assuming that we will operate as a going concern. We have suffered negative cash flows from operating activities of $22.1 million during the nine months ended September 30, 2013 and a net accumulated deficit of $130.8 million since inception as of September 30, 2013. Prior to our IPO, we were funded primarily through the issuance of preferred stock and debt. We will require additional capital until such time that we can generate operating revenue in excess of operating expenditures. Our plans include continued product development and a move toward completion of clinical trials. We will continue to closely monitor and analyze expenses and make adjustments as necessary to prioritize business operations. We believe that the net proceeds from the IPO will be sufficient for us to fund the REGULATE-PCI trial through the first interim analysis, which we expect will occur by the beginning of the second quarter of 2014, and to fund our operations through the second quarter of 2014. We will need to raise additional financing in the first half of 2014 to fund projected operations through 2014 and we can provide no assurances that such additional financing will be available on favorable terms, or at all. However, actual results may differ from estimates and the financial statements do not include any adjustments that might be necessary if we are unable to fund operations.

Unaudited Interim Financial Data

The accompanying interim consolidated financial statements are unaudited. These unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information under Article 210.8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These unaudited interim consolidated financial statements should be read in conjunction with the audited financial statements and the accompanying notes for the year ended December 31, 2012 included in our final prospectus dated August 22, 2013 filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the Securities and Exchange Commission on August 22, 2013. The unaudited interim consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments (consisting of normal recurring adjustments) necessary to state fairly our financial position as of September 30, 2013; the results of our operations for the three and nine months ended September 30, 2013 and 2012 and for the period from inception through September 30, 2013; and our cash flows for the nine months ended September 30, 2013 and 2012 and for the period from inception through September 30, 2013. The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the operating results for the full year or any other interim period.

Use of Estimates

The preparation of financial statements in conformity with U.S. 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.

Reclassifications

Fair Value of Financial Instruments

Cash and Cash Equivalents

Significant Concentrations

Clinical Trial Supplies

Clinical Agreements

Intangibles

The following information details the carrying amounts and accumulated amortization of our intangible assets subject to amortization (in thousands):

As of September 30, 2013

As of December 31, 2012

Weighted

Gross

Accumulated

Net

Gross

Accumulated

Net

Average

Carrying

Amortization

Carrying

Amortization

Carrying

Useful Life

Amount

Remaining

Identifiable intangible assets:

Patents

8.1 years

1,706

(446

)

1,260

1607

(349

)

1,258

Product licenses

2.1 years

1,554

(1,417

)

137

1,547

(1,439

)

108

Total

7.9 years

3,260

(1,863

)

1,397

3,154

(1,788

)

1,366

Expected future amortization expenses for intangible assets as of September 30, 2013 are as follows:

For the year ending December 31:

Amount

2013

2014

157

2015

149

2016

149

2017

149

Thereafter

753

1,397

We record amortization of patent and product license costs in research and development expense in the accompanying consolidated statements of comprehensive loss.

Patents

Product Licenses

We have primary license agreements with Duke University, Archemix Corp. and Nektar Therapeutics AL and all of the licenses are being amortized over the stated contractual life.

Grant Revenue

Stock-based Compensation

We grant stock options to employees and non-employees with an exercise price equal to fair market value, as defined in the Equity Compensation Plan.

Research and Development

•

employee salaries and related expenses, which include compensation benefits for the personnel involved in drug discovery and development activities, including stock based compensation;

•

external research and development expenses incurred under agreements with third party AROs and CROs and investigative sites (see Note 2—Clinical Agreements);

•

patent and product license amortization, and license fees for and milestone payments related to in-licensed products and technologies; and

•

overhead costs related to facilities, depreciation, research and development management, and research and development support services and supplies.

Recent Accounting Pronouncements

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2013
Accounting Policies [Abstract]	'
Carrying Amounts and Accumulated Amortization of Intangible Assets	'
	The following information details the carrying amounts and accumulated amortization of our intangible assets subject to amortization (in thousands):


		As of September 30, 2013									As of December 31, 2012
		Weighted		Gross		Accumulated			Net		Gross		Accumulated			Net
		Average		Carrying		Amortization			Carrying		Carrying		Amortization			Carrying
		Useful Life		Amount					Amount		Amount					Amount
		Remaining
	Identifiable intangible assets:
	Patents	8.1 years		$	1,706	$	(446	)	$	1,260	$	1607	$	(349	)	$	1,258
	Product licenses	2.1 years			1,554		(1,417	)		137		1,547		(1,439	)		108

	Total	7.9 years		$	3,260	$	(1,863	)	$	1,397	$	3,154	$	(1,788	)	$	1,366

Expected Future Amortization Expenses	'
	Expected future amortization expenses for intangible assets as of September 30, 2013 are as follows:


	For the year ending December 31:	Amount
	2013	$	40
	2014		157
	2015		149
	2016		149
	2017		149
	Thereafter		753

		$	1,397

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	9 Months Ended
Fair Value of Financial Instruments (Tables)	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Assets and Liabilities Measured at Fair Value on a Recurring Basis	'
	The following table (in thousands) sets forth our assets and liabilities that were measured at fair value on a recurring basis at September 30, 2013 and December 31, 2012 by level within the fair value hierarchy.


		As of September 30, 2013									As of December 31, 2012
	Assets and Liabilities	Quoted Prices			Significant		Significant		Balance as of		Quoted Prices		Significant		Significant		Balance at
		In Active			Other		Unobservable		September 30,		In Active		Other		Unobservable		December 31,
		Markets for			Observable		Inputs		2013		Markets for		Observable		Inputs		2012
		Identical			Inputs		(Level 3)				Identical		Inputs		(Level 3)
		Assets			(Level 2)						Assets		(Level 2)
		(Level 1)									(Level 1)
	Assets:
	Money market funds	$	43,202		$	—	$	—	$	43,202	$	14,529	$	—	$	—	$	14,529

	Total assets at fair value	$	43,202		$	—	$	—	$	43,202	$	14,529	$	—	$	—	$	14,529

	Liabilities:
	Warrant liability	$	—		$	—	$	23	$	23	$	—	$	—	$	—	$	—

	Total liabilities at fair value	$	—		$	—	$	23	$	23	$	—	$	—	$	—	$	—

Change in Fair Value Measurement Using Significant Unobservable Inputs (Level 3)	'
	The change in the fair value measurement using significant unobservable inputs (Level 3) is summarized below (in thousands):


	Balance at December 31, 2012	$	—

	Allocation of long-term debt proceeds to warrant (Unaudited)		79

	Change in fair value recorded as interest income (Unaudited)		(65	)
	Change in fair value recorded as interest expense (Unaudited)		9

	Balance at September 30, 2013 (Unaudited)	$	23

Accrued_Expenses_Tables

Accrued Expenses (Tables)	9 Months Ended
Accrued Expenses (Tables)	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Components of Accrued Expenses	'
	The components of accrued expenses are as follows (in thousands):


		September 30,		December 31,
		2013		2012
	Accrued license milestones	$	1,500	$	—
	Accrued obligations under clinical contracts		1,640		—
	Accrued legal and professional services		110		14
	Accrued interest		24		40
	Accrued compensation and benefits		1,646		478
	Deferred revenue		—		100
	Accrued expenses, other		108		154

	Total accrued expenses	$	5,028	$	786

Longterm_Debt_Tables

Long-term Debt (Tables)	9 Months Ended
Long-term Debt (Tables)	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Schedule of Long-term Debt	'
	Debt consists of (in thousands):


			September 30,			December 31,
			2013			2012
	Long-term debt		$	4,500		$	4,500
	Less - unamortized discount			(127	)		(—	)
	Less - current portion			(500	)		(2,571	)
	Plus - fees due at closing (1)			33			—

	Long-term debt, net		$	3,906		$	1,929


	-1	On the date that all of the principal and interest of the Comerica Loan become due and payable, we must pay an end of term fee of $173,000 (the “Final Fee”). The Final Fee is being accreted to interest expense over the term of the Comerica Loan.

Stock_Based_Compensation_Table

Stock Based Compensation (Tables)	9 Months Ended
Stock Based Compensation (Tables)	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Summary of Aggregate Equity Compensation Plan Activity	'
	The following table summarizes our aggregate Equity Compensation Plan activity:


			Number of			Weighted Average		Weighted Average		Aggregate
			Options			Exercise Price		Contractual Term		Intrinsic Value(1)
								(in years)
	Outstanding - December 31, 2012			1,409,659

	Granted			1,424,688
	Exercised			—
	Forfeited			(6,747	)
	Expired			(8,868	)

	Outstanding - September 30, 2013			2,818,732		$	5.5		7.8	$	6,259,849

	Exercisable - September 30, 2013			1,265,907		$	7.32		5.3	$	2,020,523

	Vested and expected to vest at September 30, 2013(2)			2,798,327		$	5.51		7.8	$	6,204,320


	-1	Intrinsic value is the excess of the fair value of the underlying common shares as of September 30, 2013 over the weighted-average exercise price.
	-2	The number of stock options expected to vest takes into account an estimate of expected forfeitures.
Summary of Assumptions Used to Value Stock Options on Date of Grant	'
	The following table shows the assumptions used to value stock options on the date of grant, as follows:


			Nine Months Ended
			September 30, 2013
	Expected stock price volatility		43.29-43.34%
	Risk-free interest rate		0.38-1.21%
	Expected life of option (in years)		4-Feb
	Weighted-average grant date fair value per share of options granted		$4.03
	Estimated dividend yield		0.00%

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	9 Months Ended
Net Loss Per Share (Tables)	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Computation of Basic and Diluted Net Loss Per Common Share	'
	The following table presents the computation of basic and diluted net loss per common share (in thousands, except share and per share data):


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2013			2012			2013			2012
	Net loss attributable to common shareholders	$	(11,415	)	$	(2,717	)	$	(20,308	)	$	(10,321	)
	Weighted average common shares outstanding, basic and diluted		8,005,142			221,272			2,828,757			221,272

	Net loss per share attributable to common shareholders, basic and diluted	$	(1.43	)	$	(12.28	)	$	(7.18	)	$	(46.64	)
Schedule of Anti-Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share	'
	Securities that may potentially dilute earnings per share in the future that have not been included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in common equivalent shares):


		Three months ended						Nine months ended
		September 30,						September 30,
		2013			2012			2013			2012
	Convertible preferred stock		—			6,656,799			—			6,656,799
	Common stock options		2,818,732			1,410,415			2,818,732			1,410,415
	Warrants		16,332			20,449			16,332			20,449

	Total		2,835,064			8,087,663			2,835,064			8,087,663

Organization_and_Basis_of_Pres2

Organization and Basis of Presentation - Additional Information (Detail) (USD $)	1 Months Ended		9 Months Ended		142 Months Ended
	Sep. 30, 2013	31-May-13	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012
	Patient	31-May-13	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'	'
Number of subjects in Phase 3 trial	13,200	'	'	'	'	'
Reverse stock split	'	'Stockholders approved an amendment to the amended and restated certificate of incorporation to effect a one-for-16.7 reverse split of shares of common stock and to increase the number of authorized shares of common stock to 500,000,000, each of which was effected on May 21, 2013.	'	'	'	'
Reverse stock split, conversion ratio	'	16.7	'	'	'	'
Common stock, shares authorized	500,000,000	500,000,000	500,000,000	'	500,000,000	500,000,000
Common stock, shares issued	21,303,012	'	21,303,012	'	21,303,012	221,272
Proceeds from issuance of common stock	$21,000	'	$21,000	'	$21,000	'
Offering costs	'	'	2,231,000	'	2,231,000	'
Cash flows from operating activities	'	'	-22,126,000	-10,568,000	-127,977,000	'
Accumulated deficit, net	130,848,000	'	130,848,000	'	130,848,000	110,540,000
IPO [Member]	'	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'	'
Common stock, shares issued	11,671,500	'	11,671,500	'	11,671,500	'
Common stock, price per share	$4	'	$4	'	$4	'
Proceeds from issuance of common stock	41,100,000	'	41,100,000	'	41,100,000	'
Underwriting discounts	'	'	3,300,000	'	'	'
Offering costs	'	'	$2,300,000	'	'	'
Conversion of preferred stock into common stock	'	'	9,396,767	'	'	'

Summary_of_Significant_Account2

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended		142 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012
Schedule Of Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'	'
Cash	$253,000	'	$253,000	'	$253,000	$235,000
Investments	43,200,000	'	43,200,000	'	43,200,000	14,500,000
Minimum percentage of enrollment in REGULATE-PCI trial	50.00%	'	50.00%	'	50.00%	'
Clinical trial supplies included in other current assets	4,700,000	'	4,700,000	'	4,700,000	4,500,000
API held at third-party storage facility	1,500,000	'	1,500,000	'	1,500,000	'
Drug product located at depots	3,200,000	'	3,200,000	'	3,200,000	'
Prepaid costs applied to final invoices	2,700,000	'	2,700,000	'	2,700,000	'
Impairment	'	'	10,000	8,000	174,000	'
Grant revenue	'	'	'	'	832,000	'
Upfront Contract [Member]	'	'	'	'	'	'
Schedule Of Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'	'
Other non-current assets include upfront contract signing costs	1,900,000	'	1,900,000	'	1,900,000	'
Upfront contract signing costs amortized period	'	'	'3 years	'	'	'
Patents [Member]	'	'	'	'	'	'
Schedule Of Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'	'
Unamortized patent costs	605,000	'	605,000	'	605,000	405,000
Impairment	$0	$3,000	$10,000	$8,000	$174,000	'

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Carrying Amounts and Accumulated Amortization of Intangible Assets (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
In Thousands, unless otherwise specified			Patents [Member]	Patents [Member]	Product Licenses [Member]	Product Licenses [Member]	Weighted Average [Member]	Weighted Average [Member]	Weighted Average [Member]
								Patents [Member]	Product Licenses [Member]
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'	'	'	'	'
Weighted Average Useful Life Remaining	'	'	'	'	'	'	'7 years 10 months 24 days	'8 years 1 month 6 days	'2 years 1 month 6 days
Gross Carrying Amount	$3,260	$3,154	$1,706	$1,607	$1,554	$1,547	'	'	'
Accumulated Amortization	-1,863	-1,788	-446	-349	-1,417	-1,439	'	'	'
Net Carrying Amount	$1,397	$1,366	$1,260	$1,258	$137	$108	'	'	'

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Expected Future Amortization Expenses (Detail) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013
Goodwill And Intangible Assets Disclosure [Abstract]	'
2013	$40
2014	157
2015	149
2016	149
2017	149
Thereafter	753
Total future amortization expense	$1,397

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Assets:	'	'
Total assets at fair value	$43,202	$14,529
Liabilities:	'	'
Total liabilities at fair value	23	'
Warrant Liability [Member]	'	'
Liabilities:	'	'
Total liabilities at fair value	23	'
Money Market Funds [Member]	'	'
Assets:	'	'
Total assets at fair value	43,202	14,529
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'
Assets:	'	'
Total assets at fair value	43,202	14,529
Liabilities:	'	'
Total liabilities at fair value	'	'
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Warrant Liability [Member]	'	'
Liabilities:	'	'
Total liabilities at fair value	'	'
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Money Market Funds [Member]	'	'
Assets:	'	'
Total assets at fair value	43,202	14,529
Significant Other Observable Inputs (Level 2) [Member]	'	'
Assets:	'	'
Total assets at fair value	'	'
Liabilities:	'	'
Total liabilities at fair value	'	'
Significant Other Observable Inputs (Level 2) [Member] \| Warrant Liability [Member]	'	'
Liabilities:	'	'
Total liabilities at fair value	'	'
Significant Other Observable Inputs (Level 2) [Member] \| Money Market Funds [Member]	'	'
Assets:	'	'
Total assets at fair value	'	'
Significant Unobservable Inputs (Level 3) [Member]	'	'
Assets:	'	'
Total assets at fair value	'	'
Liabilities:	'	'
Total liabilities at fair value	23	'
Significant Unobservable Inputs (Level 3) [Member] \| Warrant Liability [Member]	'	'
Liabilities:	'	'
Total liabilities at fair value	23	'
Significant Unobservable Inputs (Level 3) [Member] \| Money Market Funds [Member]	'	'
Assets:	'	'
Total assets at fair value	'	'

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments - Change in Fair Value Measurement Using Significant Unobservable Inputs (Level 3) (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Beginning balance	'
Allocation of long-term debt proceeds to warrant (Unaudited)	79
Change in fair value recorded as interest income (Unaudited)	-65
Change in fair value recorded as interest expense (Unaudited)	9
Ending balance	$23

Commitments_Additional_Informa

Commitments - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended		142 Months Ended
	Sep. 26, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
	Method	sqft		sqft		sqft
		Buildings		Buildings		Buildings
Purchase Commitment, Excluding Long-term Commitment [Line Items]	'	'	'	'	'	'
Area of administrative office	'	1,657	'	1,657	'	1,657
Lease term, in months	'	'	'	'36 months	'	'
Annual lease obligations in first year	'	$39,000	'	$39,000	'	$39,000
Annual lease obligations in second year	'	40,000	'	40,000	'	40,000
Annual lease obligations in third year	'	41,000	'	41,000	'	41,000
Number of office locations	'	3	'	3	'	3
Rent expense, operating leases	'	114,000	130,000	347,000	367,000	2,800,000
No of full-time employees	32	'	'	'	'	'
No of eliminated employees	5	'	'	'	'	'
Accrued severance costs	'	250,000	'	'	'	'
Duke University [Member]	'	'	'	'	'	'
Purchase Commitment, Excluding Long-term Commitment [Line Items]	'	'	'	'	'	'
Obligated milestone payments	'	'	'	500,000	'	'
Archemix Corporation [Member]	'	'	'	'	'	'
Purchase Commitment, Excluding Long-term Commitment [Line Items]	'	'	'	'	'	'
Obligated milestone payments	'	'	'	1,000,000	'	'
DRI [Member]	'	'	'	'	'	'
Purchase Commitment, Excluding Long-term Commitment [Line Items]	'	'	'	'	'	'
Maximum amount of payment to DRI	'	'	'	1,200,000	'	'
Corporate Headquarters [Member]	'	'	'	'	'	'
Purchase Commitment, Excluding Long-term Commitment [Line Items]	'	'	'	'	'	'
Monthly operating lease payments	'	'	'	16,000	'	'
Operating lease expire date	'	'	'	1-Nov-11	'	'
Monthly lease payment due for utilities	'	'	'	1,000	'	'
Office Building [Member]	'	'	'	'	'	'
Purchase Commitment, Excluding Long-term Commitment [Line Items]	'	'	'	'	'	'
Monthly operating lease payments	'	'	'	2,000	'	'
Laboratory Space [Member]	'	'	'	'	'	'
Purchase Commitment, Excluding Long-term Commitment [Line Items]	'	'	'	'	'	'
Monthly operating lease payments	'	'	'	11,000	'	'
Operating lease expire date	'	'	'	31-Jul-12	'	'
Initial letter of credit to lessor	'	115,000	'	115,000	'	115,000
Reduced letter of credit on fourth anniversary date of lease	'	$46,000	'	$46,000	'	$46,000

Accrued_Expenses_Components_of

Accrued Expenses - Components of Accrued Expenses (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Payables And Accruals [Abstract]	'	'
Accrued license milestones	$1,500	'
Accrued obligations under clinical contracts	1,640	'
Accrued legal and professional services	110	14
Accrued interest	24	40
Accrued compensation and benefits	1,646	478
Deferred revenue	'	100
Accrued expenses, other	108	154
Total accrued expenses	$5,028	$786

Longterm_Debt_Additional_Infor

Long-term Debt - Additional Information (Detail) (USD $)

1 Months Ended

3 Months Ended

9 Months Ended

142 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

142 Months Ended

31-May-11

13-May-13

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

MidCap Financial SBIC, LP [Member]

Comerica Bank [Member]

MidCap Loan [Member]

Patient

Tranche Two [Member]

Series E Preferred Stock [Member]

Common Stock [Member]

IPO [Member]

Minimum [Member]

Debt Instrument [Line Items]

Loan and security agreement, borrowed amount

$6,000,000

$4,500,000

Loan and security agreement, floor interest rate

2.00%

Loan and security agreement, interest rate spread

8.00%

Loan and security agreement, variable interest rate basis

'LIBOR

Loan and security agreement, interest rate description

'The stated rate of LIBOR, at a 2% rate floor, plus 8% spread per annum.

Final payment of loan and security agreement, percentage

3.00%

Final payment of loan and security agreement

180,000

Loan and security agreement, repayment description

'The loan was payable in monthly installments beginning September 2012 through August 2014.

'The terms allow for an interest only period of 15 months at a rate of 7.25%, and the remaining principal and interest will be repaid starting September 2014 over a nine-month period (24 months in total).

Loan and security agreement, repayment start date

'2012-09

Loan and security agreement, repayment end date

'2014-08

Debt instrument term

'24 months

Venture debt loan, interest rate

7.25%

Due period for repayment of principal and interest

'9 months

Debt instrument maturity amount in 2014

2,000,000

Debt instrument maturity amount in 2015

2,500,000

Number of interim patient

1,000

Successful completion amount of IPO

50,000,000

Debt security, option to borrow additional loans

4,000,000

Loan and security agreement, interest expense

138,000

211,000

138,000

325,000

439,000

1,200,000

Issuance of warrants to purchase of stock

156,250

9,356

Warrant price per share

0.72

12.02

Exercise of warrants

100,000

Deferred loan origination costs

$85,000

Longterm_Debt_Schedule_of_Long

Long-term Debt - Schedule of Long-term Debt (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Debt Disclosure [Abstract]	'	'
Long-term debt	$4,500	$4,500
Less - unamortized discount	-127	'
Less - current portion	-500	-2,571
Plus - fees due at closing	33	'
Long-term debt, net	$3,906	$1,929

Longterm_Debt_Schedule_of_Long1

Long-term Debt - Schedule of Long-term Debt (Parenthetical) (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Debt instrument end of term fee	$173,000

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)

1 Months Ended

9 Months Ended

142 Months Ended

9 Months Ended

31-May-13

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 18, 2012

Apr. 26, 2013

Mar. 22, 2013

Dec. 18, 2012

Sep. 30, 2013

Series E Preferred Stock [Member]

Warrants [Member]

First Tranche [Member]

Second Tranche [Member]

Third Tranche [Member]

IPO [Member]

Common Stock [Member]

Series E Preferred Stock [Member]

Subsidiary, Sale of Stock [Line Items]

Common stock, shares issued

11,671,500

Shares issued, price per share

Net proceeds from the issuance of common stock

$43,418,000

$41,100,000

Underwriting discounts

3,300,000

Offering costs

2,300,000

Convertible preferred stock converted into aggregate shares of common stock

9,396,767

Number of preferred shares issued

31,437,442

7,160,084

14,320,168

24,770,476

Value of preferred shares issued

22,169,000

22,600,000

5,200,000

10,300,000

17,800,000

Preferred shares for cash

15,500,000

Convertible loan principal amount

6,800,000

Convertible loan interest

339,000

Portion delivered into escrow account

$5,200,000

Common stock, shares authorized

500,000,000

Reverse stock split ratio

16.7

Warrants outstanding

16,332

20,449

16,332

Warrants exercisable into common shares at a weighted average exercise price

$6.96

$0.17

Issuance of warrant to purchase of common stock

13,473

Warrant exercised for common stock at an exercise price

0.17

Stock_Based_Compensation_Addit

Stock Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended		142 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Remaining stock options outstanding to acquire common stock, assumed under the plan	2,818,732	'	2,818,732	'	2,818,732	1,409,659
Expected dividend rate	'	'	0.00%	'	'	'
Stock-based compensation	$141,000	$158,000	$346,000	$578,000	$4,957,000	'
Total unrecognized compensation related to unvested	$1,900,000	'	$1,900,000	'	$1,900,000	'
Recognized over a weighted-average period	'	'	'2 years 11 months 27 days	'	'	'
Experience Group One [Member]	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Forfeiture rate	'	'	0.00%	'	'	'
Experience Group Two [Member]	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Forfeiture rate	'	'	1.00%	'	'	'
2013 Plan [Member]	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Common shares authorized for future issuance	3,342,839	'	3,342,839	'	3,342,839	'
Common shares available for issuance	558,449	'	558,449	'	558,449	'
2004 Plan [Member]	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Remaining stock options outstanding to acquire common stock, assumed under the plan	1,365,478	'	1,365,478	'	1,365,478	'
Stock option to acquire common stock	34,342	'	34,342	'	34,342	'

Stock_Based_Compensation_Summa

Stock Based Compensation - Summary of Aggregate Equity Compensation Plan Activity (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Number of Options, Outstanding, Beginning Balance	1,409,659
Number of Options, Granted	1,424,688
Number of Options, Exercised	'
Number of Options, Forfeited	-6,747
Number of Options, Expired	-8,868
Number of Options, Outstanding, Ending Balance	2,818,732
Number of Options, Exercisable	1,265,907
Number of Options, Vested and expected to vest	2,798,327
Weighted Average Exercise Price, Outstanding, Ending Balance	$5.50
Weighted Average Exercise Price, Outstanding, Exercisable	$7.32
Weighted Average Exercise Price, Outstanding, Vested and expected to vest	$5.51
Weighted Average Contractual Term, Outstanding	'7 years 9 months 18 days
Weighted Average Contractual Term, Exercisable	'5 years 3 months 18 days
Weighted Average Contractual Term, Vested and Expected to Vest	'7 years 9 months 18 days
Aggregate Intrinsic Value of Stock Options Outstanding	$6,259,849
Aggregate Intrinsic Value of Stock Options Exercisable	2,020,523
Aggregate Intrinsic Value of Stock Options Vested and Expected to Vest	$6,204,320

Stock_Based_Compensation_Summa1

Stock Based Compensation - Summary of Assumptions Used to Value Stock Options on Date of Grant (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Weighted-average grant date fair value per share of options granted	$4.03
Estimated dividend yield	0.00%
Minimum [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Expected stock price volatility	43.29%
Risk-free interest rate	0.38%
Expected life of option (in years)	'2 years
Maximum [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Expected stock price volatility	43.34%
Risk-free interest rate	1.21%
Expected life of option (in years)	'4 years

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (Scenario Forecast [Member])	12 Months Ended
	Dec. 31, 2013
Scenario Forecast [Member]	'
Income Taxes [Line Items]	'
Income taxes effective tax rate	0.00%

Net_Loss_Per_Share_Computation

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Common Share (Detail) (USD $)	3 Months Ended		9 Months Ended		142 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'	'
Net loss attributable to common shareholders	($11,415)	($2,717)	($20,308)	($10,321)	($130,848)
Weighted average common shares outstanding, basic and diluted	8,005,142	221,272	2,828,757	221,272	367,455
Net loss per share attributable to common shareholders, basic and diluted	($1.43)	($12.28)	($7.18)	($46.64)	($356.09)

Net_Loss_Per_Share_Schedule_of

Net Loss Per Share - Schedule of Anti-Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Total	2,835,064	8,087,663	2,835,064	8,087,663
Convertible Preferred Stock [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Total	'	6,656,799	'	6,656,799
Common Stock Options [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Total	2,818,732	1,410,415	2,818,732	1,410,415
Warrants [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Total	16,332	20,449	16,332	20,449

Net_Loss_Per_Share_Additional_

Net Loss Per Share - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]	'	'
Warrants outstanding	16,332	20,449
Warrants exercisable into common shares at a weighted average exercise price	$6.96	$0.17