Aveo Pharmaceuticals (AVEO) 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	1-May-15
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	AVEO
Entity Registrant Name	AVEO PHARMACEUTICALS INC
Entity Central Index Key	1325879
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		55,070,357

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$34,535	$52,306
Marketable securities	4,534
Restricted cash	2,960	2,997
Accounts receivable	947	2,341
Prepaid expenses and other current assets	1,440	1,484
Total current assets	44,416	59,128
Property and equipment, net	5,372	11,295
Other assets	213	239
Total assets	50,001	70,662
Current liabilities:
Accounts payable	2,619	3,245
Accrued expenses	6,393	9,301
Loans payable, net of discount	9,878	11,722
Deferred revenue	461	537
Lease exit obligation	1,835	4,981
Deferred rent	5,369	10,569
Total current liabilities	26,555	40,355
Loans payable, net of current portion and discount	8,139	8,930
Other liabilities	713	771
Stockholders' equity:
Preferred stock, $.001 par value: 5,000 shares authorized; no shares issued and outstanding
Common stock, $.001 par value: 100,000 shares authorized; 55,008 and 52,289 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	55	52
Additional paid-in capital	505,441	500,582
Accumulated other comprehensive income (loss)	0	0
Accumulated deficit	-490,902	-480,028
Total stockholders' equity	14,594	20,606
Total liabilities and stockholders' equity	$50,001	$70,662

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Per Share data, unless otherwise specified
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	55,008	52,289
Common stock, shares outstanding	55,008	52,289

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Collaboration revenue	$134	$15,289
Operating expenses:
Research and development	2,695	11,767
General and administrative	3,255	5,555
Restructuring and lease exit	4,333	3,859
Operating Expenses, Total	10,283	21,181
Loss from operations	-10,149	-5,892
Other income and expense:
Interest expense	-716	-581
Interest income	5	16
Other (expense) income, net	-14	7
Other expense, net	-725	-558
Net loss	($10,874)	($6,450)
Net loss per share - basic and diluted	($0.21)	($0.12)
Weighted average number of common shares outstanding	52,638	51,634

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net loss	($10,874)	($6,450)
Other comprehensive income:
Unrealized gain on available-for-sale securities		8
Comprehensive loss	($10,874)	($6,442)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net loss	($10,874)	($6,450)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment of property and equipment	232	2,502
Depreciation and amortization	4,488	838
Accretion	199
Gain on disposal of fixed assets	-20
Stock-based compensation	427	718
Non-cash interest expense	125	54
Amortization of premium and discount on investments	14	120
Changes in operating assets and liabilities:
Restricted cash	37
Accounts receivable	1,394	-270
Tenant improvement allowance receivable		-7,488
Prepaid expenses and other current assets	337	951
Other noncurrent assets	26	32
Accounts payable	-626	-1,618
Accrued expenses	-2,900	71
Deferred revenue	-76	-15,291
Lease exit obligation	-3,345
Deferred rent	-5,200	2,523
Other liabilities	-58
Net cash used in operating activities	-15,820	-19,816
Investing activities
Purchases of marketable securities	-6,048	-33,054
Proceeds from maturities and sales of marketable securities	1,500	58,628
Purchases of property and equipment		-7,754
Proceeds from sale of property and equipment	928
Net cash (used in) provided by investing activities	-3,620	17,820
Financing activities
Proceeds from issuance of common stock, net of issuance costs	4,353
Proceeds from exercise of stock options and issuance of common and restricted stock	73	29
Principal payments on loans payable	-2,757	-2,524
Net cash provided by (used in) financing activities	1,669	-2,495
Net decrease in cash and cash equivalents	-17,771	-4,491
Cash and cash equivalents at beginning of period	52,306	50,826
Cash and cash equivalents at end of period	34,535	46,335
Supplemental cash flow information
Cash paid for interest	$617	$553

Organization

Organization	3 Months Ended
	Mar. 31, 2015
Organization	(1) Organization
	AVEO Pharmaceuticals, Inc. (the “Company”) is a biopharmaceutical company committed to discovering and developing targeted therapies designed to provide substantial impact in the lives of people with cancer by addressing unmet medical needs. The Company’s proprietary platform has delivered unique insights into cancer and related diseases. The Company’s strategy for building value is to leverage these biomarker insights and partner resources to advance the development of its clinical pipeline.
	The Company’s pipeline of product candidates includes tivozanib, a potent, selective long half-life vascular endothelial growth factor tyrosine kinase inhibitor of all three vascular endothelial growth factors, or VEGF TKI, for which the Company previously demonstrated tivozanib’s safety and efficacy in first and second line renal cell carcinoma (“RCC”). However, the U.S. Food and Drug Administration issued a Complete Response letter denying the Company’s application for approval of the use of tivozanib in first line advanced RCC. The Company is currently evaluating the opportunity for submitting a Marketing Authorization Application for tivozanib with the European Medicines Agency for the treatment of RCC based on the trials conducted to date.
	The Company also has a pipeline of monoclonal antibodies, including:
		(i)	Ficlatuzumab, a potent anti-HFG antibody that inhibits the activity of the HGF/c-Met pathway for which the Company has completed a phase 2 clinical trial, and has entered into a partnership with Biodesix, Inc. (“Biodesix”) to advance clinical development;
		(ii)	AV-203, a potent, high affinity inhibitor of ErbB3 function that has demonstrated anti-tumor activity in multiple preclinical models for which the Company has completed a phase 1 dose escalation trial; and
		(iii)	AV-380, a potent humanized IgG1 inhibitory monoclonal antibody targeting growth differentiating factor-15, or GDF15, a divergent member of the TGF-ß family, for the potential treatment or prevention of cachexia. In 2012, the Company initiated a program focusing on cachexia, a serious and common complication of advanced cancer and a number of chronic diseases including chronic kidney disease, congestive heart failure and chronic obstructive pulmonary disease.
	As used throughout these condensed consolidated financial statements, the terms “AVEO,” and the “Company” refer to the business of AVEO Pharmaceuticals, Inc. and its subsidiaries, AVEO Pharma Limited and AVEO Securities Corporation, both of which are wholly-owned.
	The Company has an accumulated deficit as of March 31, 2015 of approximately $490.9 million, and will require substantial additional capital for research and product development.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Basis of Presentation	(2) Basis of Presentation
	These condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, AVEO Pharma Limited and AVEO Securities Corporation. The Company has eliminated all significant intercompany accounts and transactions in consolidation.
	The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals and revisions of estimates, considered necessary for a fair presentation of the condensed consolidated financial statements have been included. Interim results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2015 or any other future period.
	The information presented in the condensed consolidated financial statements and related footnotes at March 31, 2015, and for the three months ended March 31, 2015 and 2014, is unaudited and the condensed consolidated balance sheet amounts and related footnotes at December 31, 2014 have been derived from the Company’s audited financial statements. For further information, refer to the consolidated financial statements and accompanying footnotes included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2014, which was filed with the U.S. Securities and Exchange Commission (“SEC”) on March 6, 2015.

Significant_Accounting_Policie

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Significant Accounting Policies	(3) Significant Accounting Policies
	Revenue Recognition
	The Company’s revenues are generated primarily through collaborative research, development and commercialization agreements. The terms of these agreements generally contain multiple elements, or deliverables, which may include (i) licenses, or options to obtain licenses, to the Company’s technology, (ii) research and development activities to be performed on behalf of the collaborative partner, and (iii) in certain cases, services in connection with the manufacturing of pre-clinical and clinical material. Payments to the Company under these arrangements typically include one or more of the following: non-refundable, up-front license fees; option exercise fees; funding of research and/or development efforts; milestone payments; and royalties on future product sales.
	When evaluating multiple element arrangements, the Company considers whether the deliverables under the arrangement represent separate units of accounting. This evaluation requires subjective determinations and requires management to make judgments about the individual deliverables and whether such deliverables are separable from the other aspects of the contractual relationship. In determining the units of accounting, management evaluates certain criteria, including whether the deliverables have standalone value, based on the relevant facts and circumstances for each arrangement. The consideration received is allocated among the separate units of accounting using the relative selling price method, and the applicable revenue recognition criteria are applied to each of the separate units.
	The Company determines the estimated selling price for deliverables within each agreement using vendor-specific objective evidence (“VSOE”) of selling price, if available, third-party evidence (“TPE”) of selling price if VSOE is not available, or best estimate of selling price if neither VSOE nor TPE is available. Determining the best estimate of selling price for a deliverable requires significant judgment. The Company typically uses best estimate of selling price to estimate the selling price for licenses to the Company’s proprietary technology, since the Company often does not have VSOE or TPE of selling price for these deliverables. In those circumstances where the Company utilizes best estimate of selling price to determine the estimated selling price of a license to the Company’s proprietary technology, the Company considers market conditions as well as entity-specific factors, including those factors contemplated in negotiating the agreements and internally developed models that include assumptions related to the market opportunity, estimated development costs, probability of success and the time needed to commercialize a product candidate pursuant to the license. In validating the Company’s best estimate of selling price, the Company evaluates whether changes in the key assumptions used to determine the best estimate of selling price will have a significant effect on the allocation of arrangement consideration among multiple deliverables.
	The Company typically receives non-refundable, up-front payments when licensing its intellectual property in conjunction with a research and development agreement. When management believes the license to its intellectual property does not have stand-alone value from the other deliverables to be provided in the arrangement, the Company generally recognizes revenue attributed to the license on a straight-line basis over the Company’s contractual or estimated performance period, which is typically the term of the Company’s research and development obligations. If management cannot reasonably estimate when the Company’s performance obligation ends, then revenue is deferred until management can reasonably estimate when the performance obligation ends. When management believes the license to its intellectual property has stand-alone value, the Company generally recognizes revenue attributed to the license upon delivery. The periods over which revenue should be recognized are subject to estimates by management and may change over the course of the research and development agreement. Such a change could have a material impact on the amount of revenue the Company records in future periods.
	Payments or reimbursements resulting from the Company’s research and development efforts for those arrangements where such efforts are considered as deliverables are recognized as the services are performed and are presented on a gross basis so long as there is persuasive evidence of an arrangement, the fee is fixed or determinable, and collection of the related receivable is reasonably assured. Amounts received prior to satisfying the above revenue recognition criteria are recorded as deferred revenue in the accompanying balance sheets.
	At the inception of each agreement that includes milestone payments, the Company evaluates whether each milestone is substantive and at risk to both parties on the basis of the contingent nature of the milestone. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance, and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. The Company evaluates factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required to achieve the respective milestone and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment.
	The Company aggregates its milestones into four categories: (i) clinical and development milestones, (ii) regulatory milestones, (iii) commercial milestones, and (iv) patent-related milestones. Clinical and development milestones are typically achieved when a product candidate advances into a defined phase of clinical research or completes such phase. For example, a milestone payment may be due to the Company upon the initiation of a phase 3 clinical trial for a new indication, which is the last phase of clinical development and could eventually contribute to marketing approval by the U.S. Food and Drug Administration (“FDA”) or other global regulatory authorities. Regulatory milestones are typically achieved upon acceptance of the submission for marketing approval of a product candidate or upon approval to market the product candidate by the FDA or other global regulatory authorities. For example, a milestone payment may be due to the Company upon the FDA’s acceptance of a New Drug Application (“NDA”). Commercial milestones are typically achieved when an approved pharmaceutical product reaches certain defined levels of net sales by the licensee, such as when a product first achieves global sales or annual sales of a specified amount. Patent-related milestones are typically achieved when a patent application is filed or a patent is issued with respect to certain intellectual property related to the applicable collaboration.
	Revenues from clinical and development, regulatory, and patent-related milestone payments, if the milestones are deemed substantive and the milestone payments are nonrefundable, are recognized upon successful accomplishment of the milestones. The Company has concluded that the clinical and development, regulatory and patent-related milestones pursuant to its current research and development arrangements are substantive. Milestones that are not considered substantive are accounted for as license payments and recognized on a straight-line basis over the remaining period of performance. Revenues from commercial milestone payments are accounted for as royalties and are recorded as revenue upon achievement of the milestone, assuming all other revenue recognition criteria are met.
	Research and Development Expenses
	Research and development expenses are charged to expense as incurred. Research and development expenses consist of costs incurred in performing research and development activities, including personnel-related costs such as salaries and stock-based compensation, facilities, research-related overhead, clinical trial costs, manufacturing costs and costs of other contracted services, license fees, and other external costs. Nonrefundable advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received.
	Cash and Cash Equivalents
	The Company considers highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents at March 31, 2015 consisted of money market funds, U.S. government agency securities, and corporate debt securities, including commercial paper, maintained by an investment manager totaling $25.1 million. Cash equivalents at December 31, 2014 consisted of money market funds, U.S. government agency securities and corporate debt securities, including commercial paper, maintained by an investment manager totaling $36.6 million. The carrying values of our cash equivalent securities approximate fair value due to their short term maturities.
	Marketable Securities
	Marketable securities at March 31, 2015 consisted of corporate debt and asset-backed securities maintained by an investment manager. There were no marketable securities held by the Company as of December 31, 2014. Credit risk is reduced as a result of the Company’s policy to limit the amount invested in any one issue. Marketable securities consist primarily of investments which have expected average maturity dates in excess of three months, but not longer than 24 months. The Company classifies these investments as available-for-sale. Unrealized gains and losses are included in other comprehensive (loss) income until realized. The cost of securities sold is based on the specific identification method. There were no realized gains or losses recognized on the sale or maturity of securities during the three months ended March 31, 2015 and 2014.
	Available-for-sale securities at March 31, 2015 consist of the following:
			Amortized		Unrealized		Unrealized		Fair
			Cost		Gains		Losses		Value
			(in thousands)
	March 31, 2015:
	Corporate debt securities (Due within 1 year)		$	4,534		—		—	$	4,534
			$	4,534		—		—	$	4,534
	The aggregate unrealized loss for the Company’s corporate debt securities was less than $1,000 as of March 31, 2015.
	Concentrations of Credit Risk
	Financial instruments that potentially subject the Company to credit risk primarily consist of cash, cash equivalents and available-for-sale marketable securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits.
	Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.
	The Company’s credit risk related to marketable securities is reduced as a result of the Company’s policy to limit the amount invested in any one issue.
	Fair Value Measurements
	The Company records cash equivalents and marketable securities at fair value. The accounting standards for fair value measurements establish a hierarchy that distinguishes between fair value measurements based on market data (observable inputs) and those based on the Company’s own assumptions (unobservable inputs). The hierarchy consists of three levels:
		•		Level 1—Quoted market prices in active markets for identical assets or liabilities. Assets that are valued utilizing only Level 1 inputs include money market funds.
		•		Level 2—Inputs other than Level 1 inputs that are either directly or indirectly observable, such as quoted market prices, interest rates and yield curves. Assets that are valued utilizing Level 2 inputs include U.S. government agency securities, asset-backed securities, and corporate bonds, including commercial paper. These investments have been initially valued at the transaction price and are subsequently valued, at the end of each reporting period, utilizing third party pricing services or other observable market data. The pricing services utilize industry standard valuation models, including both income and market based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates, and other industry and economic events. The Company validates the prices provided by third party pricing services by reviewing their pricing methods and matrices, obtaining market values from other pricing sources, analyzing pricing data in certain instances and confirming that the relevant markets are active. After completing its validation procedures, the Company did not adjust or override any fair value measurements provided by pricing services as of March 31, 2015.
		•		Level 3—Unobservable inputs developed using estimates and assumptions developed by the Company, which reflect those that a market participant would use. The Company currently has no assets or liabilities measured at fair value on a recurring basis that utilize Level 3 inputs.
	The following tables summarize the cash equivalents and marketable securities measured at fair value on a recurring basis in the accompanying consolidated balance sheets as of March 31, 2015 and December 31, 2014.
			Fair Value Measurements of Cash Equivalents and
			Marketable Securities as of March 31, 2015
			Level 1		Level 2		Level 3		Total
			(in thousands)
	Cash equivalents		$	16,705	$	8,430	$	—	$	25,135
	Marketable securities			—		4,534		—		4,534
			$	16,705	$	12,964	$	—	$	29,669
			Fair Value Measurements of Cash Equivalents as of
			December 31, 2014
			Level 1		Level 2		Level 3		Total
			(in thousands)
	Cash equivalents		$	28,777	$	7,834	$	—	$	36,611
	The fair value of the Company’s loans payable at March 31, 2015, computed pursuant to a discounted cash flow technique using a market interest rate, is $18.7 million and is considered a Level 3 fair value measurement. The effective interest rate, which reflects the current market rate, considers the fair value of the warrant issued in connection with the loan, loan issuance costs and the deferred financing charge.
	Property and Equipment
	Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the respective assets. Maintenance and repair costs are charged to expense as incurred.
	Long-lived Assets
	The Company reviews long-lived assets, including property and equipment, for impairment whenever changes in business circumstances indicate that the carrying amount of the asset may not be fully recoverable. The Company recognized $0.2 million and $2.5 million of impairment losses for the three months ended March 31, 2015 and 2014, respectively, related to leasehold improvements.
	Basic and Diluted Loss per Common Share
	Basic (loss) earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted-average number of common shares and dilutive common share equivalents then outstanding which exclude unvested restricted stock. Potential common share equivalents consist of the incremental common shares issuable upon the exercise of stock options and warrants. Since the Company had a net loss for all periods presented, the effect of all potentially dilutive securities is anti-dilutive. Accordingly, basic and diluted net loss per common share is the same.
	The following table sets forth for the periods presented the potential common shares excluded from the calculation of net loss per common share because their inclusion would have been anti-dilutive:
			Outstanding at
			March 31,
			2015		2014
	Options outstanding			5,861		4,163
	Warrants outstanding			609		—
				6,470		4,163
	Stock-Based Compensation
	Under the Company’s stock-based compensation programs, the Company periodically grants stock options and restricted stock to employees, directors and nonemployee consultants. The Company also issues shares under an employee stock purchase plan. The fair value of all awards is recognized in the Company’s statements of operations over the requisite service period for each award. Awards that vest as the recipient provides service are expensed on a straight-line basis over the requisite service period. Other awards, such as performance-based awards that vest upon the achievement of specified goals, are expensed using the accelerated attribution method if achievement of the specified goals is considered probable. The Company has also granted awards that vest upon the achievement of market conditions. Per ASC 718 Share-Based Payments, market conditions must be considered in determining the estimated grant-date fair value of share-based payments and the market conditions must be considered in determining the requisite service period over which compensation cost is recognized. The Company estimates the fair value of the awards with market conditions using a Monte Carlo simulation, which utilizes several assumptions including the risk-free interest rate, the volatility of the Company’s stock and the exercise behavior of award recipients. The grant-date fair value of the awards is then recognized over the requisite service period, which represents the derived service period for the awards as determined by the Monte Carlo simulation.
	The fair value of equity-classified awards to employees and directors are measured at fair value on the date the awards are granted. Awards to nonemployee consultants are recorded at their fair values and are re-measured as of each balance sheet date until the recipient’s services are complete. During the three months ended March 31, 2015 and March 31, 2014, the Company recorded the following stock-based compensation expense:
			Three Months Ended
March 31,
		2015		2014
		(in thousands)
Research and development		$	125	$	318
General and administrative			233		400
Restructuring			69		—
		$	427	$	718
Stock-based compensation expense is allocated to research and development and general and administrative expense based upon the department of the employee to whom each award was granted. Expenses recognized in connection with the modification of awards in connection with the Company’s strategic restructurings are allocated to restructuring expense. No related tax benefits of the stock-based compensation expense have been recognized.
Income Taxes
The Company provides for income taxes using the asset-liability method. Under this method, deferred tax assets and liabilities are recognized based on differences between financial reporting and tax bases of assets and liabilities, and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Uncertain tax positions are recognized if the position is more-likely-than-not to be sustained upon examination by a tax authority. Unrecognized tax benefits represent tax positions for which reserves have been established. The Company maintains a full valuation allowance on all deferred tax assets.
Segment and Geographic Information
Operating segments are defined as components of an enterprise engaging in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one operating segment principally in the United States. As of March 31, 2015, the Company has $1.0 million of net assets located in the United Kingdom.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires the Company’s management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Recent Accounting Pronouncements
For a discussion of recent accounting pronouncements adopted by the Company, please refer to Note 2, “Significant Accounting Policies,” included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, filed with the SEC on March 6, 2015. The Company did not adopt any new accounting pronouncements during the three months ended March 31, 2015 that had a material effect on the Company’s condensed consolidated financial statements.
In May 2014, the FASB issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under US GAAP. The standard is effective for public entities for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating what effect, if any, this standard will have on its revenue recognition policies and its financial statements, including how the standard will be adopted.
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This ASU is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements and to provide related footnote disclosures. This guidance is effective for fiscal years beginning after December 15, 2016, with early application permitted. The Company is currently evaluating what effect, if any, the adoption of this guidance will have on the disclosures included in its consolidated financial statements.
In April 2015, the FASB issued a standard that will require that debt issuance costs be presented in the balance sheet as a reduction of the carrying amount of the associated liability, consistent with debt discounts. The standard is effective for public entities for annual and interim periods beginning after December 15, 2015. The Company does not believe the adoption of this standard will have a material effect on its financial statements.

Collaborations_and_License_Agr

Collaborations and License Agreements	3 Months Ended
	Mar. 31, 2015
Collaborations and License Agreements	(4) Collaborations and License Agreements
	Ophthotech Corporation
	In November 2014 the Company entered into a Research and Exclusive Option Agreement (the “Option Agreement”), with Ophthotech Corporation (“Ophthotech”) pursuant to which the Company provided Ophthotech an exclusive option to enter into a definitive license agreement whereby the Company would grant Ophthotech the right to develop and commercialize the Company’s VEGF factor tyrosine kinase inhibitor, tivozanib, outside of Asia for the potential diagnosis, prevention and treatment of non-oncologic diseases or conditions of the eye in humans.
	Pursuant to this Option Agreement, the Company granted to Ophthotech an exclusive, royalty free license or sublicense, as applicable, under intellectual property rights controlled by the Company solely to perform the research and development activities related to the use of tivozanib for the specific purposes outlined in the agreement during the option period (as defined below). These activities include formulation work for ocular administration, preclinical research and the conduct of a phase 1/2a, proof of concept clinical trial of a product containing tivozanib in patients with wet age-related macular degeneration, (the “POC Study”).
	Ophthotech paid the Company $500,000 in consideration for the grant of the option. Such amount is non-refundable and not creditable against any other amounts due under the agreement. The Company is obligated to make available to Ophthotech, at no cost to Ophthotech, certain quantities of tivozanib hydrochloride solely for conducting its option period research including manufacturing additional quantities of tivozanib in the event stability data indicates that the current supply will expire prior to the end of February 2017.
	During the option period, if Ophthotech elects to continue the development of tivozanib for non-oncologic diseases of the eye, the Company is entitled to receive a one-time milestone payment of $2.0 million upon acceptance of the first Investigational New Drug application for the purpose of conducting a human clinical study of tivozanib in ocular diseases (the “IND Submission Milestone Payment”). The Company is also entitled to receive a one-time milestone payment of $6.0 million (the “Clinical Efficacy Milestone Payment”), on the earlier of (a) December 31, 2016 and (b) the later to occur of: (i) the achievement of a clinical milestone in the POC Study (the “Clinical Efficacy Milestone”) and (ii) the earlier of (A) the date twelve (12) months after the Company and Ophthotech’s agreement as to the form and substance of the KHK Amendment (as defined below) or (B) the date ninety (90) days after the entry into the KHK Amendment, subject to the Company’s right to terminate the Option Agreement on 90 days’ written notice (the date on which such payment is due, referred to as the “Clinical Efficacy Milestone Payment Trigger Date”).
	Activities under the agreement with Ophthotech were evaluated under ASC 605-25 Revenue Recognition—Multiple Element Arrangements, or ASC 605-25, to determine whether such activities represented a multiple element revenue arrangement. The agreement with Ophthotech includes the following non-contingent deliverables: the Company’s obligation to grant an exclusive option to Ophthotech to enter into a License Agreement to develop and commercialize products incorporating tivozanib for treatment of AMD and other diseases of the eye outside of Asia during the option period; the Company’s obligation to enter into an amendment with KHK to modify the terms of the existing KHK agreement to negotiate a mutually acceptable form of license agreement; and the Company’s obligation to transfer research-grade tivozanib API for Ophthotech to conduct the option period research.
	The Company determined that the delivered Option Grant Deliverable, or the Company’s obligation to grant an exclusive option to Ophthotech to enter into a License Agreement to develop and commercialize products incorporating tivozanib for treatment of AMD and other diseases of the eye outside of Asia during the option period, did not have standalone value from the remaining deliverables since Ophthotech could not obtain the intended benefit of the option without the remaining deliverables. Similarly, the remaining deliverables have no standalone value without the Option Grant Deliverable. The Company is accounting for the deliverables as one unit of accounting.
	Under the agreement, the Company received a cash payment of $0.5 million during the year ended December 31, 2014. The Company deferred the payment and is recording the deferred revenue over the Company’s period of performance, which is estimated to be through December 2016. The Company recorded approximately $58,000 of revenue during the three months ended March 31, 2015.
	Biodesix
	In April 2014, the Company entered into a worldwide agreement with Biodesix to develop and commercialize its hepatocyte growth factor (“HGF”) inhibitory antibody ficlatuzumab, with BDX004, a proprietary companion diagnostic test developed by Biodesix and derived from VeriStrat®, a serum protein test that is commercially available to help physicians guide treatment decisions for patients with advanced non-small cell lung cancer (“NSCLC”). Under the agreement, the Company granted Biodesix perpetual, non-exclusive rights to certain intellectual property, including all clinical and biomarker data related to ficlatuzumab, to develop and commercialize BDX004. Biodesix granted the Company perpetual, non-exclusive rights to certain intellectual property, including diagnostic data related to BDX004, with respect to the development and commercialization of ficlatuzumab; each license includes the right to sublicense, subject to certain exceptions. Pursuant to a joint development plan to be agreed upon by a joint steering committee, the Company retains primary responsibility for clinical development of ficlatuzumab in a proof of concept (“POC”) clinical study of ficlatuzumab for NSCLC, in which VeriStrat will be used to select clinical trial subjects, referred to as the NSCLC POC Trial. The NSCLC POC Trial will be fully funded by Biodesix up to a maximum of $15.0 million, referred to as the “Cap”. After the Cap is reached, the Company and Biodesix will share equally in the costs of the NSCLC trial, and the Company and Biodesix will each be responsible for 50% of development and regulatory costs associated with all future clinical trials agreed-upon by Biodesix and the Company, including all milestone payments and royalties payable to third parties, if any.
	Pending marketing approval of ficlatuzumab and subject to a commercialization agreement to be entered into after receipt of results from the NSCLC POC Trial, each party would share equally in commercialization profits and losses, subject to the Company’s right to be the lead commercialization party.
	Biodesix is solely responsible for the BDX004 development costs, as well as BDX004 sales and marketing costs. Subject to and following the approval of the BDX004 test as a companion diagnostic for ficlatuzumab, Biodesix has agreed to make the BDX004 test available and use commercially reasonable efforts to seek reimbursement in all geographies where ficlatuzumab is approved. The Company has agreed to reimburse Biodesix a pre-specified amount, under certain circumstances for BDX004 tests performed.
	Prior to the first commercial sale of ficlatuzumab and after the earlier of (i) the Cap being reached or (ii) the completion of the NSCLC POC Trial, each party has the right to elect to discontinue participating in further development or commercialization efforts with respect to ficlatuzumab, which is referred to as an “Opt-Out”. If either AVEO or Biodesix elects to Opt-Out, with such party referred to as the “Opting-Out Party”, then the Opting-Out Party shall not be responsible for any future costs associated with developing and commercializing ficlatuzumab other than any ongoing clinical trials. After election of an Opt-Out, the non-opting out party shall have sole decision-making authority with respect to further development and commercialization of ficlatuzumab. Additionally, the Opting-Out Party shall be entitled to receive, if ficlatuzumab is successfully developed and commercialized, a royalty equal to 10% of net sales of ficlatuzumab throughout the world, if any, subject to offsets under certain circumstances.
	If Biodesix elects to Opt-Out, it will continue to be responsible for its development and commercialization obligations with respect to BDX004. If AVEO elects to Opt-Out, it will continue to make the existing supply of ficlatuzumab available to Biodesix for the purposes of enabling Biodesix to complete the development of ficlatuzumab, and Biodesix will have the right to commercialize ficlatuzumab.
	Prior to any Opt-Out, the parties shall share equally in any payments received from a third party licensee; provided, however, after any Opt-Out, the Opting-Out Party shall be entitled to receive only a reduced portion of such third party payments. The agreement will remain in effect until the expiration of all payment obligations between the parties related to development and commercialization of ficlatuzumab, unless earlier terminated.
	Activities under the agreement with Biodesix were evaluated under ASC 605-25 Revenue Recognition—Multiple Element Arrangements, or ASC 605-25, to determine whether such activities represented a multiple element revenue arrangement. The agreement with Biodesix includes the following non-contingent deliverables: perpetual, non-exclusive rights to certain intellectual property including clinical and biomarker data related to ficlatuzumab for use in developing and commercializing BDX004; the Company’s obligation to deliver technology improvements and data developed during the NSCLC POC Trial to Biodesix; the Company’s obligation to participate in the joint steering committee during the NSCLC POC Trial; the Company’s obligation to perform certain development activities associated with the NSCLC POC Trial; and the Company’s obligation to supply clinical material for use in conducting the NSCLC POC Trial; and the Company’s obligation to deliver clinical specimens and data during the NSCLC POC Trial. The Company concluded that any deliverables that would be delivered after the NSCLC POC Trial is complete are contingent deliverables because these services are contingent upon the results of the NSCLC POC Trial. As these deliverables are contingent, and are not at an incremental discount, they are not evaluated as deliverables at the inception of the arrangement. These contingent deliverables will be evaluated and accounted for separately as each related contingency is resolved. As of March 31, 2015, no contingent deliverables had been provided by the Company.
	The Company determined that the delivered item, or the perpetual, non-exclusive rights to certain intellectual property for use in developing and commercializing BDX004 did not have standalone value from the remaining deliverables since Biodesix could not obtain the intended benefit of the license without the remaining deliverables. Since the remaining deliverables will be performed over the same period of performance there is no difference in accounting for the deliverables as one unit or multiple units of accounting, and therefore, the Company is accounting for the deliverables as one unit of accounting.
	The Company records the consideration earned while conducting the NSCLC POC Trial, which consists of reimbursements from Biodesix for expenses related to the trial under the Cap, as a reduction to research and development expense using the proportional performance method over the respective period of performance. As a result of the cost sharing provisions in the agreement, the Company reduced research and development expenses by approximately $0.9 million during the three months ended March 31, 2015. The amount due to the Company from Biodesix pursuant to the cost-sharing provision was $0.9 million at March 31, 2015.
	Biogen Idec International GmbH
	In March 2009, the Company entered into an exclusive option and license agreement with Biogen Idec International GmbH, a subsidiary of Biogen Idec Inc., (collectively “Biogen Idec”) regarding the development and commercialization of the Company’s discovery-stage ErbB3-targeted antibodies for the potential treatment and diagnosis of cancer and other diseases outside of North America. Under the agreement, the Company is responsible for developing ErbB3 antibodies through completion of the first phase 2 clinical trial designed in a manner that, if successful, will generate data sufficient to support advancement to a phase 3 clinical trial.
	In March 2014, the Company and Biogen Idec amended the exclusive option and license agreement (the “Amendment”). Pursuant to the Amendment, Biogen agreed to the termination of its rights and obligations under the agreement, including Biogen’s option to (i) obtain a co-exclusive (with AVEO) worldwide license to develop and manufacture ErbB3 targeted antibodies and (ii) obtain exclusive commercialization rights to ErbB3 products in countries in the world other than North America. As a result, AVEO has worldwide rights to AV-203. Pursuant to the Amendment, AVEO is obligated to use reasonable efforts to seek a collaboration partner for the purpose of funding further development and commercialization of ErbB3 targeted antibodies. AVEO is also obligated to pay Biogen a percentage of milestone payments received by AVEO from future partnerships after March 28, 2016 and single digit royalty payments on net sales related to the sale of ErbB3 products, if any, up to cumulative maximum amount of $50 million.
	Under the terms of the original agreement, Biogen Idec made up-front and milestone-based cash payments totaling $20.0 million. Of the $20.0 million received, $10.0 million was associated with milestones that were considered substantive and these amounts were included in revenue when they were earned. The remaining $10.0 million was amortized as additional license revenue over the Company’s period of substantial involvement.
	The Company concluded that the Amendment materially modified the terms of the agreement and, as a result, required application of ASC 605-25. Based upon the terms of the Amendment, the remaining deliverables included the Company’s obligation to seek a collaboration partner to fund further development of the program and the Company’s obligation to continue development and commercialization of the licensed products if a collaboration partner is secured (“Development Deliverable”). The Company concluded that its obligation to use best efforts to seek a collaboration partner does not have standalone value from the Development Deliverable upon delivery and thus the deliverables should be treated as a single unit of accounting.
	Upon modifying the arrangement, the Company had $14.7 million of deferred revenue remaining to be amortized. The Company is not entitled to receive any further consideration from Biogen Idec under the amended arrangement. The Company allocated a portion of the remaining deferred revenue to the undelivered unit of accounting based upon the Company’s best estimate of the selling price, as the Company determined that neither VSOE or TPE were available. The Company determined the best estimate of selling price to be approximately $0.6 million and recognized the remaining $14.1 million as collaboration revenue in March 2014. The deferred revenue associated with the undelivered unit of accounting is being recognized on a straight-line basis over the expected period of performance, or through December 2015, based upon the Company’s historical experience with marketing its product candidates to potential partners.
	The best estimate of selling price was based upon a cost approach pursuant to which the Company estimated the costs expected to be incurred in executing a partnership agreement and then applied a reasonable markup. The Company estimated future cash outflows for several possible outcomes, including the execution of a partnership at different times within a reasonable range and partnerships of differing complexity. The Company estimated its cash outflows for each scenario based upon the expected costs associated with the relevant employees and the expected level of effort to be expended to seek and execute a partnership. The Company’s analysis also considered the legal charges that it anticipates it will incur. Changes to the Company’s assumptions within the reasonable range of possible values would not have a material impact on the amounts recorded in current or future periods.
	Under the agreement, the Company recorded revenue of $0.1 million and $14.3 million during the three month periods ended March 31, 2015 and March 31, 2014, respectively.
	Astellas Pharma
	In February 2011, the Company, together with its wholly-owned subsidiary AVEO Pharma Limited, entered into a Collaboration and License Agreement with Astellas (the “Astellas Agreement”), pursuant to which the Company and Astellas intended to develop and commercialize tivozanib for the treatment of a broad range of cancers. Astellas elected to terminate the Astellas Agreement effective on August 11, 2014, at which time the tivozanib rights were returned to the Company. In accordance with the Astellas Agreement, committed development costs, including the costs of completing certain tivozanib clinical development activities, are shared equally. There are no refund provisions in the Astellas Agreement.
	The Company accounted for the joint development and commercialization activities in North America and Europe as a joint risk-sharing collaboration in accordance with ASC 808, Collaborative Arrangements. In addition, these activities were not deemed to be separate deliverables under the Astellas Agreement.
	Payments from Astellas with respect to Astellas’ share of tivozanib development and commercialization costs incurred by the Company pursuant to the joint development plan are recorded as a reduction to research and development expense and general and administrative expense in the accompanying consolidated financial statements due to the joint risk-sharing nature of the activities in North America and Europe. Similarly, payments from the Company to Astellas with respect to the Company’s share of tivozanib development and commercialization costs incurred by Astellas pursuant to the joint development plan are recorded as a component of research and development expense and general and administrative expense in the accompanying consolidated financial statements. As a result of the cost-sharing provisions in the Astellas Agreement, the Company increased (decreased) research and development expense by $0.2 million and ($1.2) million during the three months ended March 31, 2015 and 2014, respectively. The Company also increased (decreased) general and administrative expense by $20,000 and ($0.1) million during the three months ended March 31, 2015 and 2014, respectively, as a result of the cost-sharing provisions in the Astellas Agreement. The net amount due to Astellas from the Company pursuant to the cost-sharing provisions was $0.2 million at March 31, 2015.
	Under the agreement, the Company received cash payments related to cost reimbursements of $0.5 million and $1.0 million during each of the three months ended March 31, 2015 and 2014, respectively.

Accrued_Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2015
Accrued Expenses	(5) Accrued Expenses
	Accrued expenses consisted of the following as of March 31, 2015 and December 31, 2014:
		March 31,		December 31,
		2015		2014
		(in thousands)
	Restructuring	$	1,490	$	—
	Clinical expenses		1,236		2,312
	Salaries and benefits		883		1,744
	Professional fees		803		685
	Manufacturing and distribution		682		3,216
	Other		1,299		1,344
		$	6,393	$	9,301

Loans_Payable

Loans Payable	3 Months Ended
	Mar. 31, 2015
Loans Payable	(6) Loans Payable
	On May 28, 2010, the Company entered into a loan and security agreement (the “Loan Agreement”) with Hercules Technology II, L.P. and Hercules Technology III, L.P., affiliates of Hercules Technology Growth (collectively, “Hercules”), pursuant to which the Company received a loan in the aggregate principal amount of $25.0 million. The Company was required to repay the aggregate principal balance under the Loan Agreement in 30 equal monthly installments of principal starting on January 1, 2012. On March 31, 2012, the Company entered into an amendment to the Loan Agreement, pursuant to which the Company increased the principal amount under the Loan Agreement to $26.5 million. Under the amendment to the Loan Agreement, the date on which the Company was required to begin repaying the aggregate principal balance was extended to April 1, 2013, at which point the Company began repaying such balance in 30 equal monthly installments.
	On September 24, 2014, the Company further amended the Loan Agreement with Hercules (the “Amended Loan Agreement”). Pursuant to the Amended Loan Agreement, the Company received a new loan in the aggregate principal amount of $10.0 million and amended the terms of the Loan Agreement with an outstanding principal balance of $11.6 million.
	Pursuant to the Amended Loan Agreement, the Company is not required to pay principal on the new loan of $10.0 million for a period of time until November 1, 2015; provided, that such date may be extended if the Company achieves a certain performance milestones, after which time, the Company is required to make principal and interest payments with the entire loan due and payable on January 1, 2018. With respect to the Loan Agreement, the Company is not required to pay principal until January 1, 2015, at which time the Company is required to commence making 12 principal and interest payments. The Amended Loan Agreement has an end-of-term payment of approximately $0.5 million due on January 1, 2018 or on such earlier date as the new loan is prepaid. The Company accounted for the Amended Loan Agreement as a loan modification in accordance with ASC 470-50, Debt—Modifications and Extinguishments.
	The Company must make interest payments on both loans each month they remain outstanding. Per annum interest is payable on principal balance of both loans at the greater of 11.9% and an amount equal to 11.9% plus the prime rate of interest minus 4.75% as determined daily, provided however, that the per annum interest shall not exceed 15.0% (currently 11.9%). With respect to the new loan of $10.0 million, the unpaid principal balance and all accrued but unpaid interest will be due and payable on January 1, 2018, and with respect to the original loan with a principal balance of $11.6 million, the unpaid principal balance and all accrued but unpaid interest will be due and payable on January 1, 2016.
	In addition to the obligations and covenants currently existing under the Loan Agreement, the Amended Loan Agreement contains a financial covenant, whereby the Company has agreed to maintain, with respect to the new loan of $10.0 million, a liquidity ratio equal to or greater than 1.25 to 1.00 or the equivalent of $12.5 million in unrestricted and unencumbered cash and cash equivalents. The financial covenant shall not apply after such time that the Company receives favorable data both with respect to its phase 2 clinical trial of ficlatuzumab and a phase 1 clinical trial of AV-380.
	The Loan Agreement required a deferred financing charge of $1.3 million which was paid in May 2012 related to the amendment of the Loan Agreement. The Loan Agreement also included an additional deferred financing charge of $1.2 million which was paid in June 2014, and was recorded as a loan discount and is being amortized to interest expense over the term of the loan borrowed under the Loan Agreement using the effective interest rate method. The Company had recorded a liability for the full amount of the charge since the payment of such amount was not contingent on any future event. The Company incurred approximately $0.2 million in loan issuance costs paid directly to Hercules under the Loan Agreement, which were offset against the loan proceeds and are accounted for as a loan discount.
	As part of the Loan Agreement, on June 2, 2010, the Company issued warrants to the lenders to purchase up to 156,641 shares of the Company’s common stock at an exercise price equal to $7.98 per share. The Company recorded the relative fair value of the warrants of approximately $0.8 million as stockholders’ equity and as a discount to the related loan outstanding and is amortizing the value of the discount to interest expense over the term of the loan using the effective interest method. On July 21, 2011, Hercules exercised these warrants and they are no longer outstanding.
	As part of the Amended Loan Agreement, on September 24, 2014, the Company issued warrants to the lenders to purchase up to 608,696 shares of the Company’s common stock at an exercise price equal to $1.15 per share. The Company recorded the relative fair value of the warrants of approximately $0.4 million as stockholders’ equity and as a discount to the related loan outstanding and is amortizing the value of the discount to interest expense over the term of the loan using the effective interest method.
	As part of the Loan Agreement, Hercules also received an option, subject to the Company’s written consent, not to be unreasonably withheld, to purchase, either with cash or through conversion of outstanding principal under the loan, up to $2.0 million of equity of the Company sold in any sale by the Company to third parties of equity securities resulting in at least $10.0 million in net cash proceeds to the Company, subject to certain exceptions. The Company has evaluated the embedded conversion option, and has concluded that it does not need to be bifurcated and separately accounted for. No amount will be recognized for the conversion feature until such time as the conversion feature is exercised and it can be determined whether a beneficial conversion feature exists. As of March 31, 2015, the aggregate principal balance outstanding was $18.9 million.
	The Amended Loan Agreement defines events of default, including the occurrence of an event that results in a material adverse effect upon the Company’s business operations, properties, assets or condition (financial or otherwise), its ability to perform its obligations under and in accordance with the terms of the Amended Loan Agreement, or upon the ability of the lenders to enforce any of their rights or remedies with respect to such obligations, or upon the collateral under the Loan Agreement, the related liens or the priority thereof. The Company has determined that the risk of subjective acceleration under the material adverse events clause is remote and therefore has classified the outstanding principal in current and long-term liabilities based on the timing of scheduled principal payments.
	Future minimum payments under the loans payable outstanding as of March 31, 2015 are as follows (amounts in thousands):
	Years Ending December 31:
	2015 (9 months remaining)	$	10,792
	2016		4,644
	2017		4,644
	2018		2,096
			22,176
	Less amount representing interest		(2,783	)
	Less discount		(836	)
	Less deferred charges		(540	)
	Less current portion		(9,878	)
	Loans payable, net of current portion and discount	$	8,139

Common_Stock

Common Stock	3 Months Ended
	Mar. 31, 2015
Common Stock	(7) Common Stock
	In February 2015, the Company entered into an at-the-market issuance sales agreement with MLV & Co. LLC (“MLV”), pursuant to which the Company may issue and sell shares of its common stock from time to time up to an aggregate amount of $17.9 million, at the Company’s option, through MLV as its sales agent. Sales of common stock through MLV may be made by any method that is deemed an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including by means of ordinary brokers’ transactions at market prices, in block transactions or as otherwise agreed by the Company and MLV. Subject to the terms and conditions of the sales agreement between the Company and MLV (the “Sales Agreement”), MLV will use commercially reasonable efforts to sell the common stock based upon the Company’s instructions (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company is not obligated to make any sales of its common stock under the Sales Agreement. Any shares sold will be sold pursuant to an effective shelf registration statement on Form S-3. The Company will pay MLV a commission of up to 3% of the gross proceeds. The Sales Agreement may be terminated by the Company at any time. As of March 31, 2015, the Company has sold approximately 2.9 million shares pursuant to the Sales Agreement, resulting in proceeds of approximately $4.4 million, net of commissions and issuance costs. Refer to Footnote 12, Subsequent Events, for further discussion.

Stockbased_Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2015
Stock-based Compensation	(8) Stock-based Compensation
	Stock Plans
	The Company issued stock options and restricted stock awards during the three months ended March 31, 2015. A summary of the status of the Company’s stock option activity at March 31, 2015 and changes during the three months then ended is presented in the table and narrative below.
		Options			Weighted-			Weighted-		Aggregate
					Average			Average		Intrinsic
					Exercise Price			Remaining		Value
								Contractual
								Term
	Outstanding at December 31, 2014		5,817,313		$	4.45
	Granted		2,236,000		$	0.9
	Exercised		(41,250	)	$	1.08
	Forfeited		(2,151,316	)	$	1.82
	Outstanding at March 31, 2015		5,860,747		$	4.08			7	$	956,533
	Vested or expected to vest at March 31, 2015		3,042,250		$	6.6			4.79	$	264,220
	Exercisable at March 31, 2015		2,429,609		$	7.68			3.72	$	41,116
	Stock options to purchase 1,301,500 shares of common stock contain market conditions which were not deemed probable of vesting at March 31, 2015.
	The fair value of stock options subject only to service or performance conditions that are granted to employees is estimated on the date of grant using the Black-Scholes option-pricing model using the assumptions noted in the following table:
		Three Months Ended
		March 31,
		2015			2014
	Volatility factor		78.7	%		73.53	%
	Expected term (in years)		6.25			6.25
	Risk-free interest rates		1.54	%		2.02	%
	Dividend yield		—			—
	The risk-free interest rate is determined based upon the United States Treasury’s rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the options being valued. The Company does not expect to pay dividends in the foreseeable future.
	The Company does not have sufficient history to support a calculation of volatility and expected term using only its historical data. As such, the Company has used a weighted-average volatility considering the Company’s own volatility since March 2010, and the volatilities of several peer companies. For purposes of identifying similar entities, the Company considered characteristics such as industry, length of trading history, similar vesting terms and in-the-money option status. Due to lack of available option activity data, the Company elected to use the “simplified” method for “plain vanilla” options to estimate the expected term of the stock option grants. Under this approach, the weighted-average expected life is presumed to be the average of the vesting term and the contractual term of the option. Based upon these assumptions, the weighted-average grant date fair value of stock options granted to employees during the three months ended March 31, 2015 and 2014 was $0.62 per share and $1.17 per share, respectively.
	The Company is required to include an estimate of the value of the awards that will be forfeited in calculating compensation costs, which the Company estimates based upon actual historical forfeitures. The forfeiture estimates are recognized over the requisite service period of the awards on a straight-line basis. The Company estimated its forfeiture rate to be approximately 70% as of March 31, 2015.
	As of March 31, 2015, there was $1.2 million of total unrecognized stock-based compensation expense related to stock options granted to employees under the Company’s 2002 Stock Incentive Plan and 2010 Stock Incentive Plan (collectively, the “Plans”). The expense is expected to be recognized over a weighted-average period of 3.5 years. The intrinsic value of options exercised during the three months ended March 31, 2015 was $13,000. No options were exercised during the three months ended March 31, 2014.
	The restricted stock activity for the three months ended March 31, 2015 is as follows:
		Number of Shares			Weighted-
					Average
					Fair-Value
	Unvested at December 31, 2014		477,600		$	1.81
	Granted		—			—
	Cancelled		(185,430	)		1.89
	Expired		—			—
	Vested/Released		(233,670	)		1.8
	Unvested at March 31, 2015		58,500		$	1.62
	As of March 31, 2015, there was $0.1 million of total unrecognized stock-based compensation expense related to restricted stock awards granted under the plans. The expense is expected to be recognized over a weighted-average period of 0.9 years.

Strategic_Restructuring

Strategic Restructuring	3 Months Ended
	Mar. 31, 2015
Strategic Restructuring	(9) Strategic Restructuring
	On January 6, 2015, the Board of the Company approved a strategic restructuring of the Company that eliminated the Company’s internal research function and aligned the Company’s resources with the Company’s future strategic plans. As part of this restructuring, the Company eliminated approximately two-thirds of the Company’s workforce, or 40 positions across the organization. The Company substantially completed the restructuring during the quarter-ended March 31, 2015.
	The following table summarizes the components of the Company’s restructuring activity recorded in operating expenses and in current liabilities:
		Restructuring		Restructuring		Restructuring			Restructuring
		amounts accrued at		expense		amounts			amounts
		December 31,		incurred		paid			accrued at
		2014		during the three		during the three			March 31,
				months ended		months ended			2015
				31-Mar-15		31-Mar-15
		(in thousands)
	Employee severance, benefits and related costs	$	—		3,560	$	(2,070	)		1,490
	The table above excludes non-cash stock-based compensation costs of approximately $0.1 million incurred as part of the restructuring during the three months ended March 31, 2015.

Facility_Lease_Exit

Facility Lease Exit

3 Months Ended

Mar. 31, 2015

Facility Lease Exit

(10) Facility Lease Exit

In September 2014, the Company entered into the Lease Termination Agreement pursuant to which the Company immediately surrendered leased space that it had previously ceased using earlier in 2014. In connection with the Lease Termination Agreement, the Company agreed to pay the landlord a termination fee totaling $15.6 million of which approximately $5.0 remained due as of December 31, 2014. The Company also agreed to surrender its remaining leased space upon 90 days written notice prior to September 24, 2015. In February 2015, the Company provided notice that it will surrender the remaining space on May 29, 2015. Accordingly, the Company revised the estimated useful life of its leasehold improvements related to this office space and is amortizing such assets through May 2015, resulting in an additional $1.4 million of depreciation expense during the three months ended March 31, 2015. Similarly, the Company has accelerated the amortization of its deferred rent and leasehold improvement allowance associated with this office space through May 2015, resulting in an additional $1.7 million of amortization during the three months ended March 31, 2015. Upon the surrender of the remaining space, the Company will have no further rights or obligations with respect to the lease. The Company has secured office space appropriate for its current needs under a cancellable arrangement beginning in May 2015.

The following table summarizes the components of the Company’s lease exit activity recorded in current liabilities:

Amounts accrued at

Accretion

Amounts

Additional expense incurred

Amounts

December 31, 2014

Expense

paid

during the three months

recorded at

incurred

during the three

ended March 31, 2015

March 31, 2015

during the three

months ended

-1

months ended

March 31,

March 31,

2015

2015

(in thousands)

Lease exit costs

$

4,981

$

199

$

(2,748

)

$

272

$

2,704

-1

Includes approximately $0.9 million recorded within accounts payable on the Company’s condensed consolidated balance sheet.

In addition to the $0.5 million of expense for the three months ended March 31, 2015 included in the table above, lease exit expenses also include the write-off $0.2 million of leasehold improvements.

Legal_Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2015
Legal Proceedings	(11) Legal Proceedings
	Two class action lawsuits have been filed against the Company and certain present and former officers and members of the Company’s board of directors, (Tuan Ha-Ngoc, David N. Johnston, William Slichenmyer and Ronald DePinho), in the United States District Court for the District of Massachusetts, one captioned Paul Sanders v. Aveo Pharmaceuticals, Inc., et al., No. 1:13-cv-11157-JLT, filed on May 9, 2013, and the other captioned Christine Krause v. AVEO Pharmaceuticals, Inc., et al., No. 1:13-cv-11320-JLT, filed on May 31, 2013. On December 4, 2013, the District Court consolidated the complaints as In re AVEO Pharmaceuticals, Inc. Securities Litigation et al., No. 1:13-cv-11157-DJC, and an amended complaint was filed on February 3, 2014. The amended complaint purports to be brought on behalf of shareholders who purchased the Company’s common stock between January 3, 2012 and May 1, 2013. The amended complaint generally alleges that the Company and certain of its present and former officers and directors violated Sections 10(b) and/or 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by making allegedly false and/or misleading statements concerning the phase 3 trial design and results for our TIVO-1 study in an effort to lead investors to believe that the drug would receive approval from the FDA. The amended complaint seeks unspecified damages, interest, attorneys’ fees, and other costs. On April 4, 2014, the Company filed a motion to dismiss the consolidated class action complaint with prejudice. Lead plaintiffs filed an opposition to the motion to dismiss on June 10, 2014, and the Company filed a reply to the opposition on July 10, 2014. The Court heard oral argument on the Company’s motion to dismiss on July 22, 2014. On March 20, 2015, the Court allowed the motion and dismissed the case without prejudice. On April 17, 2015, the lead plaintiffs filed a motion with the Court requesting leave to file a second amended complaint, attaching the proposed amended complaint to their motion. The Company intends to continue to deny any allegations of wrongdoing and to vigorously defend against this lawsuit. However, there is no assurance that the Company will be successful in its defense or that insurance will be available or adequate to fund any settlement or judgment or the litigation costs of the action. Moreover, the Company is unable to predict the outcome or reasonably estimate a range of possible loss at this time.
	On April 4, 2014, Karen J. van Ingen, a purported purchaser of AVEO stock, filed a derivative complaint allegedly on behalf of AVEO in the United States District Court for the District of Massachusetts, Civil Action No. 1:14-cv-11672-DJC, naming AVEO, as a nominal defendant and also naming as defendants present and former members of the Company’s board of directors, including Tuan Ha-Ngoc, Henri A. Termeer, Kenneth M. Bate, Anthony B. Evnin, Robert Epstein, Raju Kucherlapati, Robert C. Young, and Kenneth E. Weg. The complaint alleges breach of fiduciary duty and abuse of control between January 2012 and May 2013 with respect to allegedly misleading statements and omissions regarding tivozanib. The complaint seeks, among other relief, unspecified damages, costs and expenses, including attorneys’ fees, an order requiring the Company to implement certain corporate governance reforms, restitution from the defendants and such other relief as the court might find just and proper. On July 25, 2014, defendants filed a motion to dismiss the derivative complaint with prejudice. Plaintiff filed an opposition to the motion to dismiss on September 23, 2014, and the Company filed a reply to the opposition on October 23, 2014. The Court heard oral argument on the motion to dismiss on January 7, 2015, and on March 18, 2015 the Court allowed our motion and dismissed the case with prejudice. Plaintiff has filed a letter with the Court seeking clarification of its dismissal order, and has indicated that she intends to seek relief from the dismissal and to amend the complaint. The Company denies any allegations of wrongdoing and intends to vigorously defend against this lawsuit. However, there is no assurance that the Company will be successful in its defense or that insurance will be available or adequate to fund any settlement or judgment or the litigation costs of this action. Moreover, the Company is unable to predict the outcome or reasonably estimate a range of possible loss at this time.
	On July 3, 2013, the Company received a subpoena from the SEC, requesting documents and information concerning tivozanib, including related communications with the FDA, investors and others. The Company is fully cooperating with the SEC regarding this fact-finding inquiry. The SEC has informed the Company that this inquiry should not be construed as an indication that any violations of law have occurred or that the SEC has any negative opinion of any person, entity or security.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events	(12) Subsequent Events
	On May 7, 2015, the Company filed a shelf registration statement on Form S-3 with the SEC, which covers the offering, issuance and sale by the Company of up to $100,000,000 of its common stock, preferred stock, debt securities, warrants and/or units (the “2015 Shelf”). The 2015 Shelf is being filed to replace the Company’s existing ($250,000,000) shelf registration statement (the “2012 Shelf”) which will expire at the end of May 2015. On May 7, 2015, the Company amended its Sales Agreement with MLV (the “Amended Sales Agreement”) to provide for the offering, issuance and sale by the Company of up to $15,000,000 of its common stock under the 2015 Shelf, which will replace the Company’s existing ($17,900,000) offering that will expire along with the expiring 2012 Shelf. Any shares sold under the Amended Sales Agreement prior to effectiveness of the 2015 Shelf will be sold pursuant to the 2012 Shelf, and any shares sold following effectiveness of the 2015 Shelf and the expiration of the 2012 Shelf will be sold pursuant to the 2015 Shelf (see Footnote 7).

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Revenue Recognition	Revenue Recognition
	The Company’s revenues are generated primarily through collaborative research, development and commercialization agreements. The terms of these agreements generally contain multiple elements, or deliverables, which may include (i) licenses, or options to obtain licenses, to the Company’s technology, (ii) research and development activities to be performed on behalf of the collaborative partner, and (iii) in certain cases, services in connection with the manufacturing of pre-clinical and clinical material. Payments to the Company under these arrangements typically include one or more of the following: non-refundable, up-front license fees; option exercise fees; funding of research and/or development efforts; milestone payments; and royalties on future product sales.
	When evaluating multiple element arrangements, the Company considers whether the deliverables under the arrangement represent separate units of accounting. This evaluation requires subjective determinations and requires management to make judgments about the individual deliverables and whether such deliverables are separable from the other aspects of the contractual relationship. In determining the units of accounting, management evaluates certain criteria, including whether the deliverables have standalone value, based on the relevant facts and circumstances for each arrangement. The consideration received is allocated among the separate units of accounting using the relative selling price method, and the applicable revenue recognition criteria are applied to each of the separate units.
	The Company determines the estimated selling price for deliverables within each agreement using vendor-specific objective evidence (“VSOE”) of selling price, if available, third-party evidence (“TPE”) of selling price if VSOE is not available, or best estimate of selling price if neither VSOE nor TPE is available. Determining the best estimate of selling price for a deliverable requires significant judgment. The Company typically uses best estimate of selling price to estimate the selling price for licenses to the Company’s proprietary technology, since the Company often does not have VSOE or TPE of selling price for these deliverables. In those circumstances where the Company utilizes best estimate of selling price to determine the estimated selling price of a license to the Company’s proprietary technology, the Company considers market conditions as well as entity-specific factors, including those factors contemplated in negotiating the agreements and internally developed models that include assumptions related to the market opportunity, estimated development costs, probability of success and the time needed to commercialize a product candidate pursuant to the license. In validating the Company’s best estimate of selling price, the Company evaluates whether changes in the key assumptions used to determine the best estimate of selling price will have a significant effect on the allocation of arrangement consideration among multiple deliverables.
	The Company typically receives non-refundable, up-front payments when licensing its intellectual property in conjunction with a research and development agreement. When management believes the license to its intellectual property does not have stand-alone value from the other deliverables to be provided in the arrangement, the Company generally recognizes revenue attributed to the license on a straight-line basis over the Company’s contractual or estimated performance period, which is typically the term of the Company’s research and development obligations. If management cannot reasonably estimate when the Company’s performance obligation ends, then revenue is deferred until management can reasonably estimate when the performance obligation ends. When management believes the license to its intellectual property has stand-alone value, the Company generally recognizes revenue attributed to the license upon delivery. The periods over which revenue should be recognized are subject to estimates by management and may change over the course of the research and development agreement. Such a change could have a material impact on the amount of revenue the Company records in future periods.
	Payments or reimbursements resulting from the Company’s research and development efforts for those arrangements where such efforts are considered as deliverables are recognized as the services are performed and are presented on a gross basis so long as there is persuasive evidence of an arrangement, the fee is fixed or determinable, and collection of the related receivable is reasonably assured. Amounts received prior to satisfying the above revenue recognition criteria are recorded as deferred revenue in the accompanying balance sheets.
	At the inception of each agreement that includes milestone payments, the Company evaluates whether each milestone is substantive and at risk to both parties on the basis of the contingent nature of the milestone. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance, and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. The Company evaluates factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required to achieve the respective milestone and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment.
	The Company aggregates its milestones into four categories: (i) clinical and development milestones, (ii) regulatory milestones, (iii) commercial milestones, and (iv) patent-related milestones. Clinical and development milestones are typically achieved when a product candidate advances into a defined phase of clinical research or completes such phase. For example, a milestone payment may be due to the Company upon the initiation of a phase 3 clinical trial for a new indication, which is the last phase of clinical development and could eventually contribute to marketing approval by the U.S. Food and Drug Administration (“FDA”) or other global regulatory authorities. Regulatory milestones are typically achieved upon acceptance of the submission for marketing approval of a product candidate or upon approval to market the product candidate by the FDA or other global regulatory authorities. For example, a milestone payment may be due to the Company upon the FDA’s acceptance of a New Drug Application (“NDA”). Commercial milestones are typically achieved when an approved pharmaceutical product reaches certain defined levels of net sales by the licensee, such as when a product first achieves global sales or annual sales of a specified amount. Patent-related milestones are typically achieved when a patent application is filed or a patent is issued with respect to certain intellectual property related to the applicable collaboration.
	Revenues from clinical and development, regulatory, and patent-related milestone payments, if the milestones are deemed substantive and the milestone payments are nonrefundable, are recognized upon successful accomplishment of the milestones. The Company has concluded that the clinical and development, regulatory and patent-related milestones pursuant to its current research and development arrangements are substantive. Milestones that are not considered substantive are accounted for as license payments and recognized on a straight-line basis over the remaining period of performance. Revenues from commercial milestone payments are accounted for as royalties and are recorded as revenue upon achievement of the milestone, assuming all other revenue recognition criteria are met.
Research and Development Expenses	Research and Development Expenses
	Research and development expenses are charged to expense as incurred. Research and development expenses consist of costs incurred in performing research and development activities, including personnel-related costs such as salaries and stock-based compensation, facilities, research-related overhead, clinical trial costs, manufacturing costs and costs of other contracted services, license fees, and other external costs. Nonrefundable advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received.
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents at March 31, 2015 consisted of money market funds, U.S. government agency securities, and corporate debt securities, including commercial paper, maintained by an investment manager totaling $25.1 million. Cash equivalents at December 31, 2014 consisted of money market funds, U.S. government agency securities and corporate debt securities, including commercial paper, maintained by an investment manager totaling $36.6 million. The carrying values of our cash equivalent securities approximate fair value due to their short term maturities.
Marketable Securities	Marketable Securities
	Marketable securities at March 31, 2015 consisted of corporate debt and asset-backed securities maintained by an investment manager. There were no marketable securities held by the Company as of December 31, 2014. Credit risk is reduced as a result of the Company’s policy to limit the amount invested in any one issue. Marketable securities consist primarily of investments which have expected average maturity dates in excess of three months, but not longer than 24 months. The Company classifies these investments as available-for-sale. Unrealized gains and losses are included in other comprehensive (loss) income until realized. The cost of securities sold is based on the specific identification method. There were no realized gains or losses recognized on the sale or maturity of securities during the three months ended March 31, 2015 and 2014.
	Available-for-sale securities at March 31, 2015 consist of the following:
			Amortized		Unrealized		Unrealized		Fair
			Cost		Gains		Losses		Value
			(in thousands)
	March 31, 2015:
	Corporate debt securities (Due within 1 year)		$	4,534		—		—	$	4,534
			$	4,534		—		—	$	4,534
	The aggregate unrealized loss for the Company’s corporate debt securities was less than $1,000 as of March 31, 2015.
Concentrations of Credit Risk	Concentrations of Credit Risk
	Financial instruments that potentially subject the Company to credit risk primarily consist of cash, cash equivalents and available-for-sale marketable securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits.
	Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.
	The Company’s credit risk related to marketable securities is reduced as a result of the Company’s policy to limit the amount invested in any one issue.
Fair Value Measurements	Fair Value Measurements
	The Company records cash equivalents and marketable securities at fair value. The accounting standards for fair value measurements establish a hierarchy that distinguishes between fair value measurements based on market data (observable inputs) and those based on the Company’s own assumptions (unobservable inputs). The hierarchy consists of three levels:
		•		Level 1—Quoted market prices in active markets for identical assets or liabilities. Assets that are valued utilizing only Level 1 inputs include money market funds.
		•		Level 2—Inputs other than Level 1 inputs that are either directly or indirectly observable, such as quoted market prices, interest rates and yield curves. Assets that are valued utilizing Level 2 inputs include U.S. government agency securities, asset-backed securities, and corporate bonds, including commercial paper. These investments have been initially valued at the transaction price and are subsequently valued, at the end of each reporting period, utilizing third party pricing services or other observable market data. The pricing services utilize industry standard valuation models, including both income and market based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates, and other industry and economic events. The Company validates the prices provided by third party pricing services by reviewing their pricing methods and matrices, obtaining market values from other pricing sources, analyzing pricing data in certain instances and confirming that the relevant markets are active. After completing its validation procedures, the Company did not adjust or override any fair value measurements provided by pricing services as of March 31, 2015.
		•		Level 3—Unobservable inputs developed using estimates and assumptions developed by the Company, which reflect those that a market participant would use. The Company currently has no assets or liabilities measured at fair value on a recurring basis that utilize Level 3 inputs.
	The following tables summarize the cash equivalents and marketable securities measured at fair value on a recurring basis in the accompanying consolidated balance sheets as of March 31, 2015 and December 31, 2014.
			Fair Value Measurements of Cash Equivalents and
			Marketable Securities as of March 31, 2015
			Level 1		Level 2		Level 3		Total
			(in thousands)
	Cash equivalents		$	16,705	$	8,430	$	—	$	25,135
	Marketable securities			—		4,534		—		4,534
			$	16,705	$	12,964	$	—	$	29,669
			Fair Value Measurements of Cash Equivalents as of
			December 31, 2014
			Level 1		Level 2		Level 3		Total
			(in thousands)
	Cash equivalents		$	28,777	$	7,834	$	—	$	36,611
	The fair value of the Company’s loans payable at March 31, 2015, computed pursuant to a discounted cash flow technique using a market interest rate, is $18.7 million and is considered a Level 3 fair value measurement. The effective interest rate, which reflects the current market rate, considers the fair value of the warrant issued in connection with the loan, loan issuance costs and the deferred financing charge.
Property and Equipment	Property and Equipment
	Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the respective assets. Maintenance and repair costs are charged to expense as incurred.
Long-lived Assets	Long-lived Assets
	The Company reviews long-lived assets, including property and equipment, for impairment whenever changes in business circumstances indicate that the carrying amount of the asset may not be fully recoverable. The Company recognized $0.2 million and $2.5 million of impairment losses for the three months ended March 31, 2015 and 2014, respectively, related to leasehold improvements.
Basic and Diluted Loss per Common Share	Basic and Diluted Loss per Common Share
	Basic (loss) earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted-average number of common shares and dilutive common share equivalents then outstanding which exclude unvested restricted stock. Potential common share equivalents consist of the incremental common shares issuable upon the exercise of stock options and warrants. Since the Company had a net loss for all periods presented, the effect of all potentially dilutive securities is anti-dilutive. Accordingly, basic and diluted net loss per common share is the same.
	The following table sets forth for the periods presented the potential common shares excluded from the calculation of net loss per common share because their inclusion would have been anti-dilutive:
			Outstanding at
			March 31,
			2015		2014
	Options outstanding			5,861		4,163
	Warrants outstanding			609		—
				6,470		4,163
Stock-Based Compensation	Stock-Based Compensation
	Under the Company’s stock-based compensation programs, the Company periodically grants stock options and restricted stock to employees, directors and nonemployee consultants. The Company also issues shares under an employee stock purchase plan. The fair value of all awards is recognized in the Company’s statements of operations over the requisite service period for each award. Awards that vest as the recipient provides service are expensed on a straight-line basis over the requisite service period. Other awards, such as performance-based awards that vest upon the achievement of specified goals, are expensed using the accelerated attribution method if achievement of the specified goals is considered probable. The Company has also granted awards that vest upon the achievement of market conditions. Per ASC 718 Share-Based Payments, market conditions must be considered in determining the estimated grant-date fair value of share-based payments and the market conditions must be considered in determining the requisite service period over which compensation cost is recognized. The Company estimates the fair value of the awards with market conditions using a Monte Carlo simulation, which utilizes several assumptions including the risk-free interest rate, the volatility of the Company’s stock and the exercise behavior of award recipients. The grant-date fair value of the awards is then recognized over the requisite service period, which represents the derived service period for the awards as determined by the Monte Carlo simulation.
	The fair value of equity-classified awards to employees and directors are measured at fair value on the date the awards are granted. Awards to nonemployee consultants are recorded at their fair values and are re-measured as of each balance sheet date until the recipient’s services are complete. During the three months ended March 31, 2015 and March 31, 2014, the Company recorded the following stock-based compensation expense:
			Three Months Ended
			March 31,
			2015		2014
			(in thousands)
	Research and development		$	125	$	318
	General and administrative			233		400
	Restructuring			69		—
			$	427	$	718
	Stock-based compensation expense is allocated to research and development and general and administrative expense based upon the department of the employee to whom each award was granted. Expenses recognized in connection with the modification of awards in connection with the Company’s strategic restructurings are allocated to restructuring expense. No related tax benefits of the stock-based compensation expense have been recognized.
Income Taxes	Income Taxes
	The Company provides for income taxes using the asset-liability method. Under this method, deferred tax assets and liabilities are recognized based on differences between financial reporting and tax bases of assets and liabilities, and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Uncertain tax positions are recognized if the position is more-likely-than-not to be sustained upon examination by a tax authority. Unrecognized tax benefits represent tax positions for which reserves have been established. The Company maintains a full valuation allowance on all deferred tax assets.
Segment and Geographic Information	Segment and Geographic Information
	Operating segments are defined as components of an enterprise engaging in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one operating segment principally in the United States. As of March 31, 2015, the Company has $1.0 million of net assets located in the United Kingdom.
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires the Company’s management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	For a discussion of recent accounting pronouncements adopted by the Company, please refer to Note 2, “Significant Accounting Policies,” included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, filed with the SEC on March 6, 2015. The Company did not adopt any new accounting pronouncements during the three months ended March 31, 2015 that had a material effect on the Company’s condensed consolidated financial statements.
	In May 2014, the FASB issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under US GAAP. The standard is effective for public entities for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating what effect, if any, this standard will have on its revenue recognition policies and its financial statements, including how the standard will be adopted.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This ASU is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements and to provide related footnote disclosures. This guidance is effective for fiscal years beginning after December 15, 2016, with early application permitted. The Company is currently evaluating what effect, if any, the adoption of this guidance will have on the disclosures included in its consolidated financial statements.
	In April 2015, the FASB issued a standard that will require that debt issuance costs be presented in the balance sheet as a reduction of the carrying amount of the associated liability, consistent with debt discounts. The standard is effective for public entities for annual and interim periods beginning after December 15, 2015. The Company does not believe the adoption of this standard will have a material effect on its financial statements.

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Available-For-Sale Securities	Available-for-sale securities at March 31, 2015 consist of the following:
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
		(in thousands)
	March 31, 2015:
	Corporate debt securities (Due within 1 year)	$	4,534		—		—	$	4,534
		$	4,534		—		—	$	4,534
Summary of Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis	The following tables summarize the cash equivalents and marketable securities measured at fair value on a recurring basis in the accompanying consolidated balance sheets as of March 31, 2015 and December 31, 2014.
		Fair Value Measurements of Cash Equivalents and
		Marketable Securities as of March 31, 2015
		Level 1		Level 2		Level 3		Total
		(in thousands)
	Cash equivalents	$	16,705	$	8,430	$	—	$	25,135
	Marketable securities		—		4,534		—		4,534
		$	16,705	$	12,964	$	—	$	29,669
		Fair Value Measurements of Cash Equivalents as of
		December 31, 2014
		Level 1		Level 2		Level 3		Total
		(in thousands)
	Cash equivalents	$	28,777	$	7,834	$	—	$	36,611
Potential Common Shares Excluded from Calculation of Net Loss Per Common Share	The following table sets forth for the periods presented the potential common shares excluded from the calculation of net loss per common share because their inclusion would have been anti-dilutive:
		Outstanding at
		March 31,
		2015		2014
	Options outstanding		5,861		4,163
	Warrants outstanding		609		—
			6,470		4,163
Equity-classified awards
Stock-Based Compensation Expense	During the three months ended March 31, 2015 and March 31, 2014, the Company recorded the following stock-based compensation expense:
		Three Months Ended
		March 31,
		2015		2014
		(in thousands)
	Research and development	$	125	$	318
	General and administrative		233		400
	Restructuring		69		—
		$	427	$	718

Accrued_Expenses_Tables

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2015
Accrued Expenses	Accrued expenses consisted of the following as of March 31, 2015 and December 31, 2014:
		March 31,		December 31,
		2015		2014
		(in thousands)
	Restructuring	$	1,490	$	—
	Clinical expenses		1,236		2,312
	Salaries and benefits		883		1,744
	Professional fees		803		685
	Manufacturing and distribution		682		3,216
	Other		1,299		1,344
		$	6,393	$	9,301

Loans_Payable_Tables

Loans Payable (Tables)	3 Months Ended
	Mar. 31, 2015
Future Minimum Payments Under Loans Payable	Future minimum payments under the loans payable outstanding as of March 31, 2015 are as follows (amounts in thousands):
	Years Ending December 31:
	2015 (9 months remaining)	$	10,792
	2016		4,644
	2017		4,644
	2018		2,096
			22,176
	Less amount representing interest		(2,783	)
	Less discount		(836	)
	Less deferred charges		(540	)
	Less current portion		(9,878	)
	Loans payable, net of current portion and discount	$	8,139

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Stock Option Activity	The Company issued stock options and restricted stock awards during the three months ended March 31, 2015. A summary of the status of the Company’s stock option activity at March 31, 2015 and changes during the three months then ended is presented in the table and narrative below.
		Options			Weighted-			Weighted-		Aggregate
					Average			Average		Intrinsic
					Exercise Price			Remaining		Value
								Contractual
								Term
	Outstanding at December 31, 2014		5,817,313		$	4.45
	Granted		2,236,000		$	0.9
	Exercised		(41,250	)	$	1.08
	Forfeited		(2,151,316	)	$	1.82
	Outstanding at March 31, 2015		5,860,747		$	4.08			7	$	956,533
	Vested or expected to vest at March 31, 2015		3,042,250		$	6.6			4.79	$	264,220
	Exercisable at March 31, 2015		2,429,609		$	7.68			3.72	$	41,116
Assumptions used in Black-Scholes Pricing Model for New Grants	The fair value of stock options subject only to service or performance conditions that are granted to employees is estimated on the date of grant using the Black-Scholes option-pricing model using the assumptions noted in the following table:
		Three Months Ended
		March 31,
		2015			2014
	Volatility factor		78.7	%		73.53	%
	Expected term (in years)		6.25			6.25
	Risk-free interest rates		1.54	%		2.02	%
	Dividend yield		—			—
Restricted Stock Activity	The restricted stock activity for the three months ended March 31, 2015 is as follows:
		Number of Shares			Weighted-
					Average
					Fair-Value
	Unvested at December 31, 2014		477,600		$	1.81
	Granted		—			—
	Cancelled		(185,430	)		1.89
	Expired		—			—
	Vested/Released		(233,670	)		1.8
	Unvested at March 31, 2015		58,500		$	1.62

Strategic_Restructuring_Tables

Strategic Restructuring (Tables)	3 Months Ended
	Mar. 31, 2015
Restructuring Activity Recorded in Operating Expenses and in Accrued Expenses	The following table summarizes the components of the Company’s restructuring activity recorded in operating expenses and in current liabilities:
		Restructuring		Restructuring		Restructuring			Restructuring
		amounts accrued at		expense		amounts			amounts
		December 31,		incurred		paid			accrued at
		2014		during the three		during the three			March 31,
				months ended		months ended			2015
				31-Mar-15		31-Mar-15
		(in thousands)
	Employee severance, benefits and related costs	$	—		3,560	$	(2,070	)		1,490

Facility_Lease_Exit_Tables

Facility Lease Exit (Tables)

3 Months Ended

Mar. 31, 2015

Components of Lease Exit Activity Recorded in Current Liabilities

The following table summarizes the components of the Company’s lease exit activity recorded in current liabilities:

Amounts accrued at

Accretion

Amounts

Additional expense incurred

Amounts

December 31, 2014

Expense

paid

during the three months

recorded at

incurred

during the three

ended March 31, 2015

March 31, 2015

during the three

months ended

-1

months ended

March 31,

March 31,

2015

2015

(in thousands)

Lease exit costs

$

4,981

$

199

$

(2,748

)

$

272

$

2,704

-1

Includes approximately $0.9 million recorded within accounts payable on the Company’s condensed consolidated balance sheet.

Organization_Additional_Inform

Organization - Additional Information (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Organization [Line Items]
Accumulated deficit	($490,902)	($480,028)

Significant_Accounting_Policie3

Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	Segment
Significant Accounting Policies [Line Items]
Gain (loss) recognized on sale security	$0	$0
Marketable securities	4,534,000		0
Assets measured at level 3 on recurring basis	0
Liabilities measured at level 3 on recurring basis	0
Impairment losses	232,000	2,502,000
Number of operating segments	1
Money Market Funds, U.S. Government Agency Securities, And Corporate Debt Securities, Including Commercial Paper
Significant Accounting Policies [Line Items]
Cash equivalents	25,100,000		36,600,000
Level 3
Significant Accounting Policies [Line Items]
Fair value of loan payable	18,700,000
Minimum
Significant Accounting Policies [Line Items]
Marketable securities maturity term	3 months
Maximum
Significant Accounting Policies [Line Items]
Marketable securities maturity term	24 months
Maximum | Corporate debt securities
Significant Accounting Policies [Line Items]
Aggregate unrealized losses of securities	1,000
United Kingdom
Significant Accounting Policies [Line Items]
Net assets located in the United Kingdom	$1,000,000

Available_for_Sale_Securities_

Available for Sale Securities (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$4,534
Unrealized Gains	0
Unrealized Losses	0
Fair Value	4,534	0
Corporate debt securities | Due within 1 year
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,534
Unrealized Gains	0
Unrealized Losses	0
Fair Value	$4,534

Summary_of_Cash_Equivalents_an

Summary of Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$4,534	$0
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	25,135	36,611
Marketable securities	4,534
Cash Equivalents, and Marketable Securities Fair Value Disclosure, Total	29,669
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	16,705	28,777
Cash Equivalents, and Marketable Securities Fair Value Disclosure, Total	16,705
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	8,430	7,834
Marketable securities	4,534
Cash Equivalents, and Marketable Securities Fair Value Disclosure, Total	$12,964

Potential_Common_Shares_Exclud

Potential Common Shares Excluded from Calculation of Net Loss Per Common Share (Detail)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount, outstanding	6,470	4,163
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount, outstanding	5,861	4,163
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount, outstanding	609

Stock_Based_Compensation_Expen

Stock Based Compensation Expense for Equity-Classified Awards (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$427	$718
Equity-classified awards
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	427	718
Equity-classified awards | Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	125	318
Equity-classified awards | General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	233	400
Equity-classified awards | Restructuring
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$69

Collaborations_and_License_Agr1

Collaborations and License Agreements - Additional Information (Detail) (USD $)	3 Months Ended		1 Months Ended	3 Months Ended		1 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014	Jun. 30, 2011	Mar. 31, 2010	Mar. 31, 2009	Nov. 30, 2014	Dec. 31, 2014	Apr. 30, 2014
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration revenue	$134,000	$15,289,000
Amounts due from pursuant to the cost-sharing provisions	947,000							2,341,000
Clinical Efficacy Milestone | Option and License Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborations and license agreements, expected milestone receivable	6,000,000
Biodesix | NSCLC POC Trial
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Responsible percentage of development and regulatory costs after cap reached									50.00%
Royalty rate to net sales of ficlatuzumab									10.00%
Amounts due from pursuant to the cost-sharing provisions	900,000
Biodesix | Research and development | NSCLC POC Trial
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Payments received and recorded as a reduction to expense pursuant to cost-sharing provisions	900,000
Biodesix | Maximum | NSCLC POC Trial
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Funding									15,000,000
Biogen Idec
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborations and license agreements, deferred revenue		14,700,000	14,700,000
Collaborations and license agreements, relative selling price of the deliverable			600,000
Collaborations and license agreements, revenue recognized			14,100,000
Biogen Idec | Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Royalty payments	50,000,000
Biogen Idec International GmbH | Option and License Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amortization of deferred revenue	10,000,000
Collaborations and license agreements, milestone payment received				10,000,000	10,000,000
Collaborations and license agreements, revenue recognized	100,000	14,300,000
Biogen Idec International GmbH | Up-front Payment Arrangement | Option and License Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborations and license agreements, payment received						20,000,000
Astellas Pharma Inc. | Astellas Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amounts due from pursuant to the cost-sharing provisions	200,000
Astellas Pharma Inc. | Collaboration and License Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Cash received related to cost reimbursements	500,000	1,000,000
Astellas Pharma Inc. | Research and development | Astellas Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Payments received and recorded as an increased (decreased) to expense pursuant to cost-sharing provisions	200,000	-1,200,000
Astellas Pharma Inc. | General and administrative | Astellas Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Payments received and recorded as a reduction to expense pursuant to cost-sharing provisions	20,000
Payments received and recorded as an increased (decreased) to expense pursuant to cost-sharing provisions		-100,000
Ophthotech Corporation | Option and License Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborations and license agreements, cash payment							500,000
Collaborations and license agreements, payment received								500,000
Collaboration revenue	58,000
Ophthotech Corporation | Ind Submission Milestone Payment | Option and License Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborations and license agreements, expected milestone receivable	$2,000,000
Kirin Brewery Co. Ltd.
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborations and license agreements, description of expiry term	The Company is also entitled to receive a one-time milestone payment of $6.0 million (the bClinical Efficacy Milestone Paymentb), on the earlier of (a) December 31, 2016 and (b) the later to occur of: (i) the achievement of a clinical milestone in the POC Study (the bClinical Efficacy Milestoneb) and (ii) the earlier of (A) the date twelve (12) months after our and Ophthotechbs agreement as to the form and substance of the KHK Amendment (as defined below) or (B) the date ninety (90) days after the entry into the KHK Amendment, subject to the Companybs right to terminate the Option Agreement on 90 daysb written notice (the date on which such payment is due, referred to as the bClinical Efficacy Milestone Payment Trigger Dateb).
Collaborations and license agreements, termination	90 days
Kirin Brewery Co. Ltd. | Clinical Efficacy Milestone
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborations and license agreements, written notice period for termination	90 days

Accrued_Expenses_Detail

Accrued Expenses (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Accrued Liabilities [Line Items]
Restructuring	$1,490
Clinical expenses	1,236	2,312
Salaries and benefits	883	1,744
Professional fees	803	685
Manufacturing and distribution	682	3,216
Other	1,299	1,344
Accrued expenses	$6,393	$9,301

Loans_Payable_Additional_Infor

Loans Payable - Additional Information (Detail) (USD $)	0 Months Ended				3 Months Ended		1 Months Ended
	Sep. 24, 2014	Mar. 31, 2012	Jun. 02, 2010	28-May-10	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014	Mar. 31, 2012
Debt Instrument [Line Items]
Loan payable, aggregate principal amount		$26,500,000		$25,000,000				$26,500,000
Loan payable, start date of first principal payment		1-Apr-13		1-Jan-12
Loan outstanding	11,600,000				18,900,000
Loan payable, end-of-term payment due					540,000
Loan payable, description of interest rate terms				Per annum interest is payable on principal balance of both loans at the greater of 11.9% and an amount equal to 11.9% plus the prime rate of interest minus 4.75% as determined daily, provided however, that the per annum interest shall not exceed 15.0% (currently 11.9%).
Loan payable, interest rate					11.90%
Loan payable, interest rate, base rate				11.90%
Loan payable, interest rate, additional rate deducted from base rate				4.75%
Loan payable, maximum per annum interest rate				15.00%
Loan payable, due date				1-Jan-16
Liquidity ratio					125.00%
Unrestricted and unencumbered cash and cash equivalents					12,500,000
Interest expense					716,000	581,000
Loan issuance costs paid				200,000
Warrants issued to lenders as part of new loan agreement, shares of common stock to purchase	608,696		156,641
Warrants issued to lenders as part of new loan agreement, exercise price	$1.15		$7.98
Warrants issued to lenders as part of new loan agreement, fair value	400,000		800,000
Option to purchase equity, description					As part of the Loan Agreement, Hercules also received an option, subject to the Company's written consent, not to be unreasonably withheld, to purchase, either with cash or through conversion of outstanding principal under the loan, up to $2.0 million of equity of the Company sold in any sale by the Company to third parties of equity securities resulting in at least $10.0 million in net cash proceeds to the Company, subject to certain exceptions.
Option to purchase equity, maximum amount					2,000,000
Starting on January 1, 2012
Debt Instrument [Line Items]
Loan payable, number of installments of principal and interest					30
Loan payable, frequency of installments of principal and interest					30 equal monthly installments
Starting on January 1, 2015
Debt Instrument [Line Items]
Loan payable, number of installments of principal and interest					12
Loan payable, frequency of installments of principal and interest					12 principal and interest payments
Minimum
Debt Instrument [Line Items]
Loan payable, interest rate				11.90%
Option to purchase equity, net cash proceeds of equity securities					10,000,000
Amended Loan Agreement
Debt Instrument [Line Items]
Loan payable, aggregate principal amount	10,000,000
Loan payable, end-of-term payment due					500,000
Loan payable, due date				1-Jan-18
Loan Discount
Debt Instrument [Line Items]
Interest expense							$1,200,000	$1,300,000

Future_Minimum_Payments_Under_

Future Minimum Payments Under Loans Payable (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
2015 (9 months remaining)	$10,792
2016	4,644
2017	4,644
2018	2,096
Long-term Debt, Gross, Total	22,176
Less amount representing interest	-2,783
Less discount	-836
Less deferred charges	-540
Less current portion Loans Payable Current	-9,878	-11,722
Loans payable, net of current portion and discount	$8,139	$8,930

Common_Stock_Additional_Inform

Common Stock - Additional Information (Detail) (USD $)	3 Months Ended
Share data in Thousands, unless otherwise specified	Mar. 31, 2015	Feb. 28, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common stock sales agreement, aggregate offering amount	$55,000	$17,900,000	$52,000
Common stock shares sold	55,008		52,289
Maximum
Class of Stock [Line Items]
Common stock sales agreement commission, percentage		3.00%
MLV & Co. LLC
Class of Stock [Line Items]
Common stock shares sold	2,900
proceeds from sale of shares	$4,400,000

Stock_Option_Activity_Detail

Stock Option Activity (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015
Options
Outstanding at beginning of period	5,817,313
Granted	2,236,000
Exercised	-41,250
Forfeited	-2,151,316
Outstanding at end of period	5,860,747
Vested or expected to vest at March 31, 2015	3,042,250
Exercisable at March 31, 2015	2,429,609
Weighted-Average Exercise Price
Outstanding at beginning of period	$4.45
Granted	$0.90
Exercised	$1.08
Forfeited	$1.82
Outstanding at end of period	$4.08
Vested or expected to vest at March 31, 2015	$6.60
Exercisable at March 31, 2015	$7.68
Weighted-Average Remaining Contractual Term
Outstanding at March 31, 2015	7 years
Vested or expected to vest at March 31, 2015	4 years 9 months 15 days
Exercisable at March 31, 2015	3 years 8 months 19 days
Aggregate Intrinsic Value
Outstanding at end of year	$956,533
Vested or expected to vest at end of year	264,220
Exercisable at end of year	$41,116

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options issued to purchase common stock	1,301,500
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of stock options granted	$0.62	$1.17
Share based payment award forfeiture rates	70.00%
Total unrecognized stock-based compensation expense	$1,200,000
Total unrecognized stock-based compensation expense, weighted-average period Recognition	3 years 6 months
Intrinsic value of options exercised	13,000	0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	$100,000
Total unrecognized stock-based compensation expense, weighted-average period Recognition	10 months 24 days

Assumptions_Used_in_Black_Scho

Assumptions Used in Black Scholes Pricing Model for New Grants (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility factor	78.70%	73.53%
Expected term (in years)	6 years 3 months	6 years 3 months
Risk-free interest rates	1.54%	2.02%
Dividend yield	0.00%	0.00%

Restricted_Stock_Activity_Deta

Restricted Stock Activity (Detail) (Restricted Stock, USD $)	3 Months Ended
	Mar. 31, 2015
Restricted Stock
Number of Shares
Unvested at beginning of period	477,600
Granted	0
Cancelled	-185,430
Expired	0
Vested/Released	-233,670
Unvested at end of period	58,500
Weighted-Average Grant-Date Fair Value
Unvested at beginning of period	$1.81
Granted	$0
Cancelled	$1.89
Expired	$0
Vested/Released	$1.80
Unvested at end of period	$1.62

Strategic_Restructuring_Additi

Strategic Restructuring - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
	Position
Restructuring Cost and Reserve [Line Items]
Restructuring plan, completion date	31-Mar-15
Restructuring plan, percentage of number of positions eliminated	66.66%
Restructuring plan, number of positions eliminated	40
Non cash share based compensation cost	$427	$718
Employee Severance
Restructuring Cost and Reserve [Line Items]
Non cash share based compensation cost	$100

Restructuring_Activity_Recorde

Restructuring Activity Recorded in Operating Expenses and Accrued Expenses (Detail) (Employee Severance, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring expense incurred	$3,560
Restructuring amounts paid	-2,070
Restructuring amounts accrued, ending balance	$1,490

Facility_Lease_Exit_Additional

Facility Lease Exit - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended
	Sep. 30, 2014	Mar. 31, 2015	Dec. 31, 2014
Operating Lease Obligations [Line Items]
Amounts accrued		$6,393,000	$9,301,000
3rd Amendment, Lease exit costs associated with 650 E. Kendall.
Operating Lease Obligations [Line Items]
Lease exit expense incurred	15,600,000
Amounts accrued			5,000,000
Additional charge to depreciation expense due to revision of estimated useful life		1,400,000
Increase in amortization expense due to accelerated amortization of deferred rent and leasehold improvement		1,700,000
Leased space surrendering date		29-May-15
Lease exit costs
Operating Lease Obligations [Line Items]
Lease exit expense incurred		500,000
Amounts accrued		2,704,000	4,981,000
Write-off of leasehold improvements		$200,000

Components_of_Lease_Exit_Activ

Components of Lease Exit Activity Recorded in Current Liabilities (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Operating Lease Obligations [Line Items]
Amounts accrued	$6,393	$9,301
Accretion Expense incurred	199
Lease exit costs
Operating Lease Obligations [Line Items]
Amounts accrued	2,704	4,981
Accretion Expense incurred	199
Amounts paid	-2,748
Additional expense incurred	$272

Components_of_Lease_Exit_Activ1

Components of Lease Exit Activity Recorded in Current Liabilities (Parenthetical) (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Operating Lease Obligations [Line Items]
Accounts payable	$2,619	$3,245
Lease exit costs
Operating Lease Obligations [Line Items]
Accounts payable	$900

Legal_Proceedings_Additional_I

Legal Proceedings -Additional Information (Detail)	Mar. 31, 2015
	LegalMatter
Loss Contingencies [Line Items]
Class action lawsuits	2

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (Subsequent Event, USD $)	7-May-15
2015 Shelf
Subsequent Event [Line Items]
Offering, issuance and sale of stocks and securities, shelf registration	$100,000,000
2015 Shelf | Maximum
Subsequent Event [Line Items]
Common stock sales agreement, aggregate offering amount	15,000,000
2012 Shelf
Subsequent Event [Line Items]
Offering, issuance and sale of stocks and securities, shelf registration	$250,000,000
2012 Shelf | Maximum
Subsequent Event [Line Items]
Common stock sales agreement, aggregate offering amount	17,900,000