Adamas Pharmaceuticals (ADMS) 10-K 3 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Feb. 23, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	Adamas Pharmaceuticals Inc
Entity Central Index Key	1328143
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$175,750,227
Entity Common Stock, Shares Outstanding		17,642,207
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$61,446	$85,612
Short-term Investments	60,912
Accounts receivable	524	129
Prepaid expenses and other current assets	645	267
Total current assets	123,527	86,008
Property and equipment, net	1,228	199
Long-term Investments	36,364
Other assets	70	9
Total Assets	161,189	86,216
Current liabilities
Accounts payable	3,685	2,097
Accrued liabilities	8,595	2,119
Other current liabilities	265	2
Total current liabilities	12,545	4,218
Warrant liability		6,232
Non current liabilities	1,570	12
Total liabilities	14,115	10,462
Contingencies (Note 8)
Convertible preferred stock, $0.001 par value - 5,000,000 shares and 6,700,000 shares authorized at December 31, 2014 and December 31, 2013, and zero and 4,719,174 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively; zero and $77,433 liquidation preference at December 31, 2014 and December 31, 2013, respectively		19,149
Stockholders' equity
Common stock, $0.001 par value - 100,000,000 shares authorized, 17,551,375 and 9,515,528 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively	22	14
Additional paid-in capital	157,581	77,163
Accumulated other comprehensive income (loss)	-180
Accumulated deficit	-10,349	-20,572
Total stockholders' equity	147,074	56,605
Total liabilities, convertible preferred stock and stockholders' equity	$161,189	$86,216

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
CONSOLIDATED BALANCE SHEETS
Convertible preferred stock, par value (in dollars per share)	$0.00	$0.00
Convertible preferred stock, shares authorized	5,000,000	6,700,000
Convertible preferred stock, shares issued	0	4,719,174
Convertible preferred stock, liquidation value (in dollars)	$0	$77,433
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	17,551,375	17,551,375
Common stock, shares outstanding	9,515,528	9,515,528

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$55,846	$71,095	$37,471
Operating expenses
Research and development	21,860	7,410	9,192
General and administrative	15,472	6,667	8,330
Total operating expenses	37,332	14,077	17,522
Income from operations	18,514	57,018	19,949
Interest and other income (expense), net	-917	-4,906	-1,913
Income before income taxes	17,597	52,112	18,036
Provision for income taxes	-7,374	-1,191	-300
Net income	10,223	50,921	17,736
Historical net income per share
Basic	8,968	33,068	11,441
Diluted	$9,069	$35,353	$11,596
Net income per share attributable to common stockholders
Basic (in dollars per share)	$0.60	$3.48	$1.21
Diluted (in dollars per share)	$0.53	$3	$1.17
Weighted average number of shares used in computing net income attributable to common stockholders
Basic (in shares)	14,837	9,506	9,488
Diluted (in shares)	17,107	11,806	9,924

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$10,223	$50,921	$17,736
Unrealized loss on available-for-sale securities	180
Comprehensive Income	$10,043	$50,921	$17,736

Consolidated_Statements_of_Con

Consolidated Statements of Convertible Preferred Stock And Stockholders' Equity (USD $)	Convertible Preferred Stock	Common Stock	Additional Paid-In Capital	Other Comprehensive Income (Loss)	Accumulated Deficit	Total
In Thousands, except Share data, unless otherwise specified
Beginning Balance at Dec. 31, 2011	$15,336	$14	$75,583		($89,229)	($13,632)
Increase (decrease) in temporary equity
Issuance of Series AA convertible preferred stock	3,813
Issuance of Series AA convertible preferred stock (shares)	1,051,342
Increase (decrease) in shareholders' equity
Issuance of common stock in exchange for services			64			64
Issuance of common stock in exchange for services (shares)		65,000
Exercise of stock options			1			1
Exercise of stock options (shares)		10,000
Vesting of common stock			2			2
Stock-based compensation			797			797
Net income					17,736	17,736
Balance at Dec. 31, 2012	19,149	14	76,447		-71,493	4,968
Balance (in shares) at Dec. 31, 2012	4,719,174
Balance (shares) at Dec. 31, 2012		9,499,862
Increase (decrease) in shareholders' equity
Exercise of stock options			16			16
Exercise of stock options (shares)		15,666
Vesting of common stock			8			8
Modification of common stock purchase warrants			52			52
Stock-based compensation			640			640
Net income					50,921	50,921
Balance at Dec. 31, 2013	19,149	14	77,163		-20,572	56,605
Balance at Dec. 31, 2013	19,149					19,149
Balance (in shares) at Dec. 31, 2013	4,719,174					4,719,174
Balance (shares) at Dec. 31, 2013		9,515,528
Increase (decrease) in temporary equity
Issuance of Series AA convertible preferred stock	8,747
Issuance of Series AA convertible preferred stock (shares)	622,660
Conversion of preferred stock to common stock in April 2014 in connection with the IPO	-27,896	4	27,892			27,896
Conversion of preferred stock to common stock in April 2014 in connection with the IPO (shares)	-5,341,834	4,003,225
Increase (decrease) in shareholders' equity
Exercise of stock options		1	480			481
Exercise of stock options (shares)		738,539
Excess tax benefit of stock option exercises			1,599			1,599
Exercise of common stock warrants			453			453
Exercise of common stock warrants (shares)		199,837
Issuance of common stock in initial public offering ("IPO"), net of discounts, commissions and issuance costs		3	42,629			42,632
Issuance of common stock in initial public offering ("IPO"), net of discounts, commissions and issuance costs (Shares)		3,081,371
Net unrealized loss on available-for-sale securities				-180		-180
Stock issued under employee stock purchase plan			162			162
Stock issued under employee stock purchase plan (in shares)		12,875
Stock-based compensation			7,203			7,203
Net income					10,223	10,223
Balance at Dec. 31, 2014		$22	$157,581	($180)	($10,349)	$147,074
Balance (in shares) at Dec. 31, 2014						0
Balance (shares) at Dec. 31, 2014		17,551,375

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income	$10,223	$50,921	$17,736
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	155	66	41
Stock-based compensation	7,203	640	797
Excess tax benefit on the exercise of stock options	1,599
Change in preferred stock warrant value	983	4,526	1,330
Investment discount (premium) net of amortization and (accretion)	-1,361
Provision for employee notes receivable		1	158
Noncash interest expense			377
Issuance of common stock and vesting of restricted common stock for services received		52	67
Loss on fixed asset disposal	111
Changes in assets and liabilities
Prepaid expenses and other assets	-381	79	-39
Accounts receivable	-395	761	-516
Accounts payable	1,521	-1,157	1,799
Accrued liabilities and other liabilities	9,734	523	600
Deferred revenue		-29,611	29,611
Net cash provided by operating activities	26,194	26,801	51,961
Cash flows from investing activities
Purchases of property and equipment	-1,285	-167	-24
Purchases of marketable securities	-96,095
Net cash used in investing activities	-97,380	-167	-24
Cash flows from financing activities
Proceeds from public offering of common stock, net of discounts, commissions and issuance costs	42,632
Proceeds from issuance of convertible preferred stock, net of issuance costs			3,948
Proceeds from issuance of common stock upon exercise of stock options	1,011	21	7
Proceeds from issuance of convertible promissory notes and related warrants	1,986		3,948
Proceeds from employee stock purchase plan	162
Excess tax benefit on the exercise of stock options	1,599
Repurchase of common stock	-370
Principal payments on convertible promissory notes		-4,000
Net cash provided by (used in) financing activities	47,020	-3,979	7,903
Net increase (decrease) in cash and cash equivalents	-24,166	22,655	59,840
Cash and cash equivalents at beginning of period	85,612	62,957	3,117
Cash and cash equivalents at end of period	61,446	85,612	62,957
Supplemental disclosure
Cash paid for interest		279
Cash paid for income taxes	$341	$1,501

The_Company

The Company	12 Months Ended
	Dec. 31, 2014
The Company
The Company	1. THE COMPANY
	Adamas Pharmaceuticals, Inc. (the "Company") is a specialty pharmaceutical company focused on the development and commercialization of therapeutics targeting chronic disorders of the central nervous systems ("CNS"). The Company achieves this by enhancing the pharmacokinetic profiles of approved drugs to create novel therapeutics for use alone and in fixed-dose combination products. The Company's business strategy is twofold. The Company intends to develop and commercialize its wholly owned products directly. In addition, the Company may form partnerships with companies that have an already established CNS market presence. The Company is developing its lead wholly owned product candidate, ADS-5102, for a complication associated with the treatment of Parkinson's disease known as levodopa induced dyskinesia, or LID, and potentially as a treatment for one or more additional CNS indications. The Company successfully completed a Phase 2/3 clinical study in LID in 2013 and has initiated two Phase 3 registration trials and a separate open-label safety study in 2014 in support of the LID indication. Its late-stage therapeutics portfolio includes an approved product, Namenda XR®, which Forest Laboratories, Inc. ("Forest"), a subsidiary of Actavis plc, developed and is marketing in the United States under a license from the Company and also includes a recently approved product, NamzaricTM (formerly MDX-8704), co-developed with Forest, which is expected to launch in the first half of 2015.
	The Company was incorporated in the State of Delaware on November 15, 2000. The Company's headquarters and operations are located in Emeryville, California. The Company has four insignificant subsidiaries.
	Initial Public Offering
	In April 2014, the Company issued and sold 3,000,000 shares of its common stock in its initial public offering ("IPO") at a public offering price of $16.00 per share, for net proceeds of approximately $41.4 million after deducting underwriting discounts and commissions of approximately $3.4 million and expenses of approximately $3.2 million. In May 2014, the Company issued and sold 81,371 shares of its common stock pursuant to the underwriters' partial exercise of their option to purchase additional shares, for net proceeds of approximately $1.2 million after deducting underwriting discounts and commissions of approximately $91,000. Upon the closing of the IPO, all shares of convertible preferred stock then outstanding converted into an aggregate of 4,003,225 shares of common stock. In addition, all of the Company's convertible preferred stock warrants outstanding at the close of the IPO were converted into common stock.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation and Use of Estimates
	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses in the consolidated financial statements and the accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, clinical trial accruals, fair value of assets and liabilities, income taxes, and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results may differ from those estimates.
	To date, nearly all of the Company's resources have been dedicated to the research and development of its products, and the Company has not generated any commercial revenue from the sale of its products. The Company does not anticipate the generation of any commercial product revenue until it receives the necessary regulatory approvals to launch one of its products.
	Based upon the current status of, and plans for, its product development, the Company believes that the existing cash and cash equivalents will be adequate to satisfy the Company's capital needs through at least the next twelve months. However, the process of developing and commercializing products requires significant research and development, preclinical testing and clinical trials, manufacturing arrangements, as well as regulatory approvals. These activities, together with the Company's general and administrative expenses, are expected to result in significant operating losses until the commercialization of the Company's products or partner collaborations generate sufficient revenue to cover expenses. While the Company had net income during 2014, 2013, and 2012, it has not generated any commercial revenue from sales of its products and under its license with Forest, received the final milestone payment in 2014, and is not currently entitled to receive any royalties for sales of Namenda XR and Namzaric. To achieve sustained profitability, the Company, alone or with others, must successfully develop its product candidates, obtain required regulatory approvals, and successfully manufacture and market its products.
	Forward Stock Split
	In March 2014, the Board of Directors of the Company and stockholders approved a forward stock split of the Company's common and preferred stock. As a result, common and preferred stock, stock options and warrants to purchase common and preferred stock were adjusted in the ratio of 2:1, effective March 24, 2014. All common and preferred shares and per share amounts presented in these condensed consolidated financial statements for all periods have been retroactively adjusted to reflect the 2-for-1 forward stock split. No fractional shares were issued.
	Cash and Cash Equivalents
	Cash and cash equivalents consist of highly liquid investments with original maturities, when purchased, of less than three months.
	Investments
	The Company classifies its investments as "available-for-sale." In general, these investments are free of trading restrictions. The Company carries these investments at fair value, based on quoted market prices or other readily available market information. Quoted market prices for US government and corporate bonds include both principal and accrued interest components. Unrealized gains and losses are included in accumulated other comprehensive income, which is reflected as a separate component of stockholders' equity in our Consolidated Balance Sheets. Gains and losses are recognized when realized in our Consolidated Statements of Income. When the Company determines that an other-than-temporary decline in fair value has occurred, the amount of the decline that is related to a credit loss is recognized in income. Gains and losses are determined using the specific identification method. The Company considers all marketable debt securities with a maturity of less than one year to be short-term investments, with all others considered to be long-term investments.
	All of our available-for-sale securities are subject to a periodic impairment review. We recognize an impairment charge when a decline in the fair value of our investments below the cost basis is judged to be other-than-temporary. Factors considered in determining whether a loss is temporary include the length of time and extent to which the investments' fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, extent of the loss related to credit of the issuer, the expected cash flows from the security, our intent to sell or hold the security, and whether or not we will be required to sell the security before the recovery of its amortized cost.
	Consolidation
	The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.
	Segments
	In accordance with ASC 280-10-50, Segment Reporting, operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company operates in one segment: the development and commercialization of therapeutics targeting chronic disorders of the central nervous system.
	Revenue Recognition
	The Company recognizes revenue when all four of the following criteria have been met: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered, (iii) the fee is fixed or determinable and (iv) collectability is reasonably assured. Revenue under license and collaboration arrangements is recognized based on the performance requirements of the contract. Determinations of whether persuasive evidence of an arrangement exists and whether delivery has occurred or services have been rendered are based on management's judgments regarding the fixed nature of the fees charged for deliverables and the collectability of those fees. Should changes in conditions cause management to determine that these criteria are not met for any new or modified transactions, revenue recognized could be adversely affected.
	The Company generates revenue from collaboration and license agreements for the development and commercialization of products. Collaboration and license agreements may include non-refundable upfront license fees, partial or complete reimbursement of research and development costs, contingent consideration payments based on the achievement of defined collaboration objectives and royalties on sales of commercialized products. The Company's performance obligations under the collaborations may include the license or transfer of intellectual property rights, obligations to provide research and development services and related materials and obligations to participate on certain development and/or commercialization committees with the collaborators.
	On January 1, 2011, the Company adopted an accounting standards update that amends the guidance on accounting for new arrangements, or those materially modified, with multiple deliverables. This guidance eliminates the requirement for objective and reliable evidence of fair value of the undelivered items in order to consider a deliverable a separate unit of accounting. It also changes the allocation method such that the relative-selling-price method must be used to allocate arrangement consideration to the units of accounting in an arrangement. This guidance establishes the following estimation hierarchy that must be used in estimating selling price under the relative-selling-price method: (i) vendor-specific objective evidence of fair value of the deliverable, if it exists, (ii) third-party evidence of selling price, if vendor-specific objective evidence is not available or (iii) vendor's best estimate of selling price, if neither vendor-specific nor third-party evidence is available.
	On January 1, 2011, the Company adopted an accounting standards update that provides guidance on revenue recognition using the milestone method. Payments that are contingent upon achievement of a substantive milestone are recognized in their entirety in the period in which the milestone is achieved. Milestones are defined as events that can only be achieved based on the Company's performance and there is substantive uncertainty about whether the event will be achieved at the inception of the arrangement. Events that are contingent only on the passage of time or only on counterparty performance are not considered milestones subject to this guidance. Further, the amounts received must relate solely to prior performance, be reasonable relative to all of the deliverables and payment terms within the agreement and commensurate with the Company's performance to achieve the milestone after commencement of the agreement.
	Amounts related to research and development funding are recognized as the related services or activities are performed, in accordance with the contract terms. Payments may be made to or by the Company based on the number of full-time equivalent researchers assigned to the collaboration project and the related research and development expenses incurred.
	Concentration of Credit Risk
	Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents and short and long-term investments. Cash, cash equidamalents and investments are deposited with financial institutions or invested in security issuers that management believes are creditworthy. Deposits may, at times, exceed the amount of insurance provided on such deposits. To date, we have not experienced any losses on invested cash and cash equivalents.
	Risk and Uncertainties
	The Company's future results of operations involve a number of risks and uncertainties. Factors that could affect the Company's future operating results and cause actual results to vary materially from expectations include, but are not limited to, rapid technological change, uncertainty of results of clinical trials and reaching milestones, uncertainty of market acceptance of the Company's products, competition from substitute products and larger companies, protection of proprietary technology, strategic relationships, and dependence on key individuals.
	Products developed by the Company require approvals from the U.S. Food and Drug Administration ("FDA") or other international regulatory agencies prior to commercial sales. There can be no assurance that the products will receive the necessary approvals. If the Company was denied approval, approval was delayed or the Company was unable to maintain approval, it could have a materially adverse impact on the Company.
	The Company has expended and will continue to expend substantial funds to complete the research, development and clinical testing of product candidates. The Company also will be required to expend additional funds to establish commercial-scale manufacturing arrangements and to provide for the marketing and distribution of products that receive regulatory approval. The Company may require additional funds to commercialize its products. The Company is unable to entirely fund these efforts with its current financial resources. Additional funds may not be available on acceptable terms, if at all. If adequate funds are unavailable on a timely basis from operations or additional sources of financing, the Company may have to delay, reduce the scope of or eliminate one or more of its research or development programs which would materially and adversely affect its business, financial condition and operations.
	Property and Equipment
	Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally between three and ten years. Leasehold improvements are amortized on a straight-line basis over the lesser of their useful life or the term of the lease, which is five years. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the consolidated balance sheet and any resulting gain or loss is reflected in operations in the period realized.
	Leases
	At the inception of a lease, the Company evaluates the lease agreement to determine whether the lease is an operating, capital or build-to-suit lease using the criteria in ASC 840, "Leases." Certain lease agreements also require the Company to make additional payments for taxes, insurance, and other operating expenses incurred during the lease period, which are expensed as incurred. For operating leases, the Company recognizes rent expense on a straight-line basis over the lease term and records the difference between cash rent payments and the recognition of rent expense as a deferred liability. Where lease agreements contain rent escalation clauses, rent abatements and/or concessions, such as rent holidays and tenant improvement allowances, the Company applies them in the determination of straight-line expense over the lease term.
	Accounting for Long-Lived Assets
	The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by the comparison of the carrying amount to the future net cash flows that the assets are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the projected discounted future net cash flows arising from the asset. There have been no such impairments of long-lived assets as of December 31, 2014.
	Clinical Trial Accruals
	The Company's clinical trial accruals are based on estimates of patient enrollment and related costs at clinical investigator sites as well as estimates for the services received and efforts expended pursuant to contracts with multiple research institutions and clinical research organizations ("CROs") that conduct and manage clinical trials on the Company's behalf.
	The Company estimates clinical trial expenses based on the services performed pursuant to contracts with research institutions and clinical research organizations that conduct and manage clinical trials on its behalf. In accruing service fees, the Company obtains the reported level of patient enrollment at each site and estimates the time period over which services will be performed and activity expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. Payments made to third parties under these arrangements in advance of the receipt of the related services are recorded as prepaid expenses until the services are rendered.
	Research and Development
	Research and development ("R&D") expenses include salaries, contractor and consultant fees, external clinical trial expenses performed by contract research organizations ("CRO"), licensing fees, acquired intellectual property with no alternative future use, and facility and administrative expense allocations. In addition, we fund R&D at research institutions under agreements that are generally cancelable at our option. Research costs typically consist of applied research and preclinical and toxicology work. Pharmaceutical manufacturing development costs consist of product formulation, chemical analysis, and the transfer and scale-up of manufacturing at our contract manufacturers. Clinical development costs include the costs of Phase 1, Phase 2, and Phase 3 clinical trials. These costs are a significant component of our research and development expenses.
	We accrue costs for clinical trial activities performed by contract research organizations and other third parties based upon the estimated amount of work completed on each study as provided by the CRO. These estimates are reviewed for reasonableness by our internal clinical personnel, and we aim to match the accrual to actual services performed by the organizations as determined by patient enrollment levels and related activities. We monitor patient enrollment levels and related activities using available information; however, if we underestimate activity levels associated with various studies at a given point in time, we could be required to record significant additional R&D expenses in future periods when the actual activity level becomes known. We charge all such costs to R&D expenses. Non-refundable advance payments are capitalized and expensed as the related goods are delivered or services are performed.
	Convertible Preferred Stock
	The Company classifies the convertible preferred stock as temporary equity on the balance sheets due to certain change of control events that are outside the Company's control, including liquidation, sale, or transfer of the Company, as holders of the convertible preferred stock could have caused redemption of the shares. Shares of convertible preferred stock were converted to common stock upon close of the IPO in April 2014.
	Convertible Preferred Stock Warrants
	The Company accounts for its convertible preferred stock warrants as a liability based upon the characteristics and provisions of each instrument. Convertible preferred stock warrants classified as a liability are recorded on the Company's balance sheet at their fair value on the date of issuance and were revalued on each subsequent balance sheet, with fair value changes recognized as increases or reductions in the statements of operations. The Company adjusted the liability for changes in fair value of these warrants until the earlier of: (i) exercise of warrants, (ii) expiration of warrants, (iii) a change of control of the Company, or (iv) the closing of the Company's IPO. At those times, the convertible preferred stock warrant liability was adjusted to fair value in the condensed consolidated statements of operations and comprehensive income and, upon the closing of the Company's IPO in April 2014, the final fair value was reclassified to additional paid-in capital.
	Fair Value of Financial Instruments
	The carrying value of the Company's cash and cash equivalents, short-term investments, accounts receivable, long-term investments and other current assets, other assets, accounts payable, accrued liabilities approximate fair value due to the short-term nature or determinable value of these items. The fair value of convertible preferred stock warrants is determined using readily available market information.
	See also Note 4 for further details of our fair value instruments.
	Income Taxes
	The Company accounts for income taxes under the asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.
	The Company follows the provisions of ASC 740, Income Taxes, under which we assess all material positions taken in any income tax return, including all significant uncertain positions, in all tax years that are still subject to assessment or challenge by relevant taxing authorities. Assessing an uncertain tax position begins with the initial determination of the position's sustainability and is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. As of each balance sheet date, unresolved uncertain tax positions must be reassessed, and the Company will determine whether (i) the factors underlying the sustainability assertion have changed and (ii) the amount of the recognized tax benefit is still appropriate. The recognition and measurement of tax benefits requires significant judgment. Judgments concerning the recognition and measurement of a tax benefit might change as new information becomes available.
	Basic and Diluted Net Income Per Share Attributable to Common Stockholders
	Basic net income per share attributable to common stockholders is based upon the weighted average number of common shares outstanding during the period. Diluted net income per share attributable to common stockholders is based upon the weighted average number of common shares outstanding and dilutive common stock equivalents outstanding during the period. Common stock equivalents are options granted under our stock awards plans and are calculated under the treasury stock method. Common equivalent shares from unexercised stock options and convertible preferred stock warrants are excluded from the computation when there is a loss as their effect is anti-dilutive, or if the exercise price of such options is greater than the average market price of the stock for the period.
	Prior to April 10, 2014, the Company calculated its basic and diluted net income (loss) per share attributable to common stockholders in conformity with the two-class method required for companies with participating securities. Under the two-class method, the Company determined whether it had net income attributable to common stockholders, which includes the results of operations less current period convertible preferred stock non-cumulative dividends. If it was determined that the Company had net income attributable to common stockholders during a period, the related undistributed earnings were then allocated between common stock and the convertible preferred stock based on the weighted average number of shares outstanding during the period to determine the numerator for the basic net income per share attributable to common stockholders. In computing diluted net income attributable to common stockholders, undistributed earnings are re-allocated to reflect the potential impact of dilutive securities to determine the numerator for the diluted net income per share attributable to common stockholders.
	Stock-Based Compensation
	The Company accounts for stock-based compensation of stock options granted to employees and directors and for employee stock purchase plan shares by estimating the fair value of stock-based awards using the Black-Scholes option-pricing model and amortizing the fair value of the stock-based awards granted over the applicable vesting period. All stock options awards to non-employees are accounted for at the fair value of the consideration received or the fair value of the equity instrument issued, as calculated using the Black-Scholes model. The measurement of nonemployee stock-based compensation is subject to periodic adjustment as the underlying equity instruments vest.
	In order to estimate the value of share-based awards, the Company uses the Black-Scholes model, which requires the use of certain subjective assumptions. The most significant subjective assumptions are management's estimates of the expected volatility and the expected term of the award. In addition, judgment is also required in estimating the amount of share-based awards that are expected to be forfeited. If actual results differ significantly from any of these estimates, stock-based compensation expense and the Company's results of operations could be materially impacted.
	Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers. The amendment in this ASU provides guidance on the revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The core principle of this update provides guidance to identify the performance obligations under the contract(s) with a customer and how to allocate the transaction price to the performance obligations in the contract. It further provides guidance to recognize revenue when (or as) the entity satisfies a performance obligation. This standard will replace most existing revenue recognition guidance when it becomes effective January 1, 2017. Early adoption is not permitted. We have not yet selected a transition method nor have we determined the effect of the standard on our consolidated financial position and results of operations.
	In July 2013, the FASB issued ASU No. 2013-11, "Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." This update clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss, or NOL, carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where an NOL carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The Company adopted this amended guidance prospectively as of January 1, 2014. The adoption of this amended guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.

Balance_Sheet_Components

Balance Sheet Components	12 Months Ended
	Dec. 31, 2014
Balance Sheet Components
Balance Sheet Components	3. BALANCE SHEET COMPONENTS
	Prepaid expenses and other current assets (in thousands)
		December 31,
		2014			2013
	Prepaid expenses	$	414		$	237
	Prepaid clinical trial		227			10
	Other current assets		4			20
		$	645		$	267
	Property and equipment, net (in thousands)
		December 31,
		2014			2013
	Computer equipment and software	$	385		$	330
	Office equipment		60			60
	Furniture and fixtures		260			121
	Leasehold improvements		763			25
			1,468			536
	Less: Accumulated depreciation and amortization		(240	)		(337	)
		$	1,228		$	199
	Depreciation expense was $155,000, $66,000 and $41,000 for the years ended December 31, 2014, 2013, and 2012, respectively.
	Accrued liabilities (in thousands)
		December 31,
		2014			2013
	Accrued vacation	$	465		$	317
	Accrued salaries and related benefit expenses		1,422			1,349
	Clinical trial accruals		1,351			104
	Accrued professional fees		380			—
	Accrued consulting expenses		36			180
	Income and other taxes		4,773			101
	Other		168			68
		$	8,595		$	2,119

Fair_Value_Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2014
Fair Value Measurements
Fair Value Measurements	4. FAIR VALUE MEASUREMENTS
	In accordance with ASC 820-10, Fair Value Measurements and Disclosures, the Company determines the fair value of financial and non-financial assets and liabilities using the fair value hierarchy, which establishes three levels of inputs that may be used to measure fair value, as follows:
	•	Level 1 inputs which include quoted prices in active markets for identical assets or liabilities;
	•	Level 2 inputs which include observable inputs other than Level 1 inputs, such as quoted prices for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. For available-for-sale securities, the Company reviews trading activity and pricing as of the measurement date. When sufficient quoted pricing for identical securities is not available, the Company uses market pricing and other observable market inputs for similar securities obtained from various third-party data providers. These inputs either represent quoted prices for similar assets in active markets or have been derived from observable market data; and
	•	Level 3 inputs which include unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the underlying asset or liability. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation.
	The following table represents the fair value hierarchy for the Company's financial assets and liabilities which require fair value measurement on a recurring basis (in thousands):
			Fair Value Measurements at December 31,
			2014
			Total			Level 1		Level 2		Level 3
	Assets
	Money market fund		$	59,303		$	59,303	$	—	$	—
	Corporate debt			85,311			—		85,311		—
	U.S. Treasury notes			11,965			—		11,965		—
	Total		$	156,579		$	59,303	$	97,276	$	—
			Fair Value Measurements at December 31,
			2013
			Total			Level 1		Level 2		Level 3
	Assets
	Money market fund		$	83,700		$	83,700	$	—	$	—
	Liabilities
	Preferred stock warrant liability		$	6,232		$	—	$	—	$	6,232
	Money market funds are highly liquid investments and are actively traded. The pricing information on these investment instruments are readily available and can be independently validated as of the measurement date. This approach results in the classification of these securities as Level 1 of the fair value hierarchy.
	Corporate debt and U.S. Treasury notes are measured at fair value using level 2 inputs. We review trading activity and pricing for these investments as of each measurement date. When sufficient quoted pricing for identical securities is not available, we use market pricing and other observable market inputs for similar securities obtained from various third party data providers. These inputs represent quoted prices for similar assets in active markets or these inputs have been derived from observable market data. This approach results in the classification of these securities as Level 2 of the fair value hierarchy.
	Upon issuance of the convertible preferred stock warrants, the Company estimated the fair value of the liability and subsequent remeasurement using the option pricing model at each reporting date, using the following inputs: the risk-free interest rates; the expected dividend rates; the remaining expected life of the warrants; and the expected volatility of the price of the underlying stock. The estimates were based, in part, on subjective assumptions and could differ materially in future periods. This results in the classification of the preferred stock warrant liability as Level 3 of the fair value hierarchy.
	The following table includes a roll forward of the financial instruments classified within Level 3 of the fair value hierarchy (in thousands):
	Fair Value Using Level 3 Inputs		Amounts
	Balance at December 31, 2012		$	1,706
	Change in fair value recorded in Other (income)/expense, net			4,526
	Balance at December 31, 2013			6,232
	Change in fair value recorded in Other (income)/expense, net			983
	Exercise of warrants			(7,215	)
	Balance at December 31, 2014		$	—

Investments

Investments	12 Months Ended
	Dec. 31, 2014
Investments
Investments
	5. INVESTMENTS
	The Company's investments consist of corporate debt and U.S. Treasury notes classified as available-for-sale securities. The Company had no short or long-term investments at December 31, 2013.
	The Company limits the amount of investment exposure as to institution, maturity, and investment type. To mitigate credit risk, the Company invests in investment grade corporate debt and United States treasury notes. Such securities are reported at fair value, with unrealized gains and losses excluded from earnings and shown separately as a component of accumulated other comprehensive income (loss) within stockholders' equity. The Company may pay a premium or receive a discount upon the purchase of marketable securities. Interest earned and gains realized on marketable securities and accretion of discounts received and amortization of premiums paid on the purchase of marketable securities are included in investment income.
	The following table is a summary of amortized cost, unrealized gain and loss, and the fair value of available-for-sale investments as of December 31, 2014 (in thousands):
		December 31, 2014
		Amortized		Gross		Gross			Estimated
		Cost		Unrealized		Unrealized			Fair Value
				Gains		Losses
	Investments:
	Corporate debt	$	85,474	$	—	$	(163	)	$	85,311
	U.S. Treasury notes		11,982		—		(17	)		11,965
		$	97,456	$	—	$	(180	)	$	97,276
	Reported as:
	Short-term investments	$	61,014	$	—	$	(104	)	$	60,910
	Long-term investments		36,442		—		(76	)		36,366
	Total	$	97,456	$	—	$	(180	)	$	97,276
	Short-term and long-term investments includes accrued interest of $309,000 and $209,000, respectively, as of December 31, 2014. The Company has not incurred any realized gains or losses on investments for the year ended December 31, 2014. Investments are classified as short-term or long-term depending on the underlying investment's maturity date. Long-term investments have a maturity date range of greater than 12 months and less than 23 months as of December 31, 2014.

Collaboration_and_License_Agre

Collaboration and License Agreements	12 Months Ended
	Dec. 31, 2014
Collaboration and License Agreements
Collaboration and License Agreements
	6. COLLABORATION AND LICENSE AGREEMENTS
	In November 2012, the Company entered into a license agreement with a wholly owned subsidiary of Forest, which granted Forest an exclusive license with right to sublicense certain of the Company's intellectual property rights in the United States in connection with the development and commercialization of Namzaric and marketing of Forest's approved product Namenda XR for the treatment of moderate to severe dementia related to Alzheimer's disease. Pursuant to the agreement, Forest made an upfront payment of $65.0 million. The Company was eligible to receive additional cash payments totaling up to $95.0 million upon achievement by Forest of certain development and regulatory milestones in addition to tiered royalty payments based on future net sales of the product upon commercialization.
	The Company identified the following two non-contingent performance deliverables under the license agreement: (i) transfer of intellectual property rights, inclusive of the related technology know-how conveyance ("license and know-how" or "license") and (ii) the obligation to participate on the Joint Development Committee ("JDC"). The Company concluded that the license and the know-how together represent a single deliverable, and therefore the two together have been accounted for as a single unit of accounting. There was no separate consideration identified in the agreement for the deliverables and there was no right of return under the agreement. The Company considered the provisions of the multiple-element arrangement guidance in determining whether the deliverables outlined above have standalone value. The transfer of license and know-how has standalone value separate from the obligation to participate on the JDC, as the agreement allows Forest to sublicense its rights to the acquired license to a third party. Further, the Company believes that Forest has research and development expertise with compounds similar to those licensed under the agreement and has the ability to engage other third parties to develop these compounds, allowing Forest to realize the value of the license and know-how without receiving the JDC participation.
	The Company developed its best estimates of selling prices ("BESP") for each deliverable in order to allocate the non-contingent arrangement consideration to the two units of accounting. Based on BESP analysis, value assigned to the obligation to participate on the JDC was a negligible amount. Accordingly, the entire upfront license fee of $65.0 million was allocated to the transfer of license and technical know-how. Revenue recognition commenced upon delivery of the license and was recognized on a straight-line basis through the period of the transfer of the know-how. Forest was able to derive value from the license as the know-how was transferred. A straight-line pattern of revenue recognition is only acceptable when a more precise pattern cannot be discerned. The way in which the transfer of know-how occurred did not give rise to a more precise pattern of recognition, and the Company therefore recognized revenue on a straight-line basis over the period of the transfer of the know-how (from November 2012 to February 2013).
	In November and December 2013, the Company received a total of $40.0 million in milestone payments under its license agreement with Forest. The milestone payments were for the successful completion of studies that support the planned New Drug Application ("NDA") filing with the FDA for Namzaric by Forest. In May 2014, the Company received an additional $25.0 million milestone payment under the license agreement. This milestone payment was a result of the FDA's acceptance of the NDA for Namzaric. In December 2014, the Company received a final $30 million milestone payment in connection with the FDA approval of Namzaric. These amounts have been recorded as revenue when received in the consolidated statements of operations and comprehensive income during 2013 and 2014, respectively.
	Commencing in June 2018, the Company is entitled to receive low to mid-single digit royalties on net sales in the United States by Forest, its affiliates, or any of its sublicensees of controlled-release versions of memantine, such as Namenda XR, or any other product covered by the terms of the license agreement. Forest's obligation to pay royalties with respect to controlled-release versions of memantine covered by the agreement continue until the expiration of the Orange Book listed patents covering such products. In addition, commencing five years after the initial launch of a fixed-dose memantine-donepezil product in the United States, such as Namzaric, which Forest expects to launch in first half of 2015, the Company is entitled to receive royalties at rates ranging from the low double digits to the mid-teens on the net sales by Forest, its affiliates, and any sublicensees of such products in the United States. Forest's obligation to pay royalties with respect to fixed-dose memantine-donepezil products continues until the later of (i) 15 years after the commercial launch of the first fixed-dose memantine-donepezil product by Forest in the United States or (ii) the expiration of the Orange Book listed patents for which Forest obtained rights from us covering such product.

Warrants_to_Purchase_Common_or

Warrants to Purchase Common or Preferred Stock	12 Months Ended
	Dec. 31, 2014
Warrants to Purchase Common or Preferred Stock
Warrants to Purchase Common or Preferred Stock
	7. WARRANTS TO PURCHASE COMMON OR PREFERRED STOCK
	In conjunction with various financings between 2002 and 2012, the Company issued warrants to purchase 758,994 shares of convertible preferred stock and 127,780 shares of common stock. The relative fair value of these warrants was determined using the Black-Sholes model and was amortized to interest expense over the term of each loan, unless subsequently modified. As of December 31, 2014 and December 31, 2013, warrants to purchase 7,116 and 213,278 shares of common stock were outstanding and warrants to purchase zero and 622,660 shares of convertible preferred stock were outstanding, respectively.
	Prior to the IPO in April 2014, the warrants were classified as a liability and remeasured to fair value each reporting period. The Company had estimated the fair value of these liabilities using the Black-Scholes model and assumptions that were based on the individual characteristics of the warrants on the valuation date, as well as the assumptions for expected volatility, expected life, dividends, and risk-free interest rate. Immediately prior to the completion of the Company's IPO in 2014, all of the warrants were either exercised for cash or automatically net exercised for a total issuance of 199,837 shares of common stock, pursuant to the terms of the warrants. Just prior to the exercises, all of the outstanding warrants, covering 220,004 shares, were remeasured using the intrinsic value of the warrant computed as the difference between the $16.00 per share IPO price and the $3.80 per share exercise price of the warrant. The remeasurement of the fair value of these warrants from December 31, 2013 through the date of the conversion to a common stock warrant and following the exercise resulted in a $1.0 million expense recorded to other income (expense), net in the Company's consolidated statements of operations and comprehensive income. The resulting fair value of approximately $27.9 million was reclassified as additional paid-in capital upon completion of the IPO.
	The following table summarizes the outstanding warrants as of:
		Number of Shares
		Outstanding
		December 31,		December 31,
		2014		2013
	Series AA convertible preferred stock warrants		—		622,660
	Common stock warrants		7,116		213,278

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies
Commitments and Contingencies
	8. COMMITMENTS AND CONTINGENCIES
	Lease Commitments
	The Company leases approximately 12,500 square feet of office space in Emeryville, California. In May 2014, the Company amended its corporate lease agreement to increase the square footage leased from approximately 12,500 to approximately 18,500 square feet for an additional term of 65 months thru April 30, 2020. The Company plans to take occupancy of the additional space by the end of the second quarter of 2015.
	As of December 31, 2014, future minimum lease payments under a non-cancelable facility operating lease including related office equipment were as follows (in thousands):
		December 31,
		2014
	2015	$	428
	2016		624
	2017		624
	2018		634
	2019		654
	Thereafter		223
	Total	$	3,187
	The Company's total rent expense was approximately $277,000, $214,000, and $122,000 for the years ended December 31, 2014, 2013, and 2012, respectively.
	Contingencies
	In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company's exposure under these agreements is unknown, because it involves claims that may be made against the Company in the future, but have not yet been made. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.
	Indemnification
	In accordance with the Company's amended and restated certificate of incorporation and amended and restated bylaws, the Company has indemnification obligations to its officers and directors for certain events or occurrences, subject to certain limits, while they are serving in such capacity. There have been no claims to date, and the Company has a directors and officers liability insurance policy that may enable it to recover a portion of any amounts paid for future claims.
	Litigation
	Several companies have submitted Abbreviated New Drug applications, or ANDAs, to the FDA requesting permission to manufacture and market generic versions of Namenda XR, on which the Company entitled to receive royalties from Forest beginning in June 2018. In the notices, these companies allege that the patents associated with Namenda XR, some of which are owned by Forest or licensed by Forest from Merz Pharma GmbH & Co. KGaA and others of which are owned by the Company and licensed by the Company exclusively to Forest in the United States, are invalid, unenforceable and/or will not be infringed by the companies' manufacture, use, or sale of generic versions of Namenda XR. In January, February, and April 2014, the Company, Forest, Forest Laboratories Holdings Ltd., Merz Pharma GmbH & Co. KGaA, and Merz Pharmaceuticals GmbH (together Merz) filed lawsuits in the U.S. District Court for the District of Delaware for infringement of the relevant patents against all of these companies. The parties are collectively seeking judgment that (i) the defendants have infringed the patents at issue, (ii) the effective date of any approval of the defendants' ANDAs shall not be earlier than the expiration date of the last to expire of the relevant patents, including any extensions or exclusivities, (iii) the defendants be enjoined from commercially manufacturing, using, offering for sale, or selling in the United States, or importing into the United States, any products that infringe or induce or contribute to the infringement of the patents at issue prior to the expiration date of the last to expire of the patents, including extensions and exclusivities, and (iv) the Company, Forest, Forest Laboratories Holdings Ltd., and Merz be awarded monetary relief, in addition to any attorneys' fees, costs, and expenses relating to the actions. The trial is scheduled for February 2016. Because these lawsuits were filed within the requisite 45 day period provided in the U.S. Food, Drug and Cosmetic Act, there are stays preventing FDA approval of the ANDAs for 30 months or until a court decision adverse to the patents. The 30 month stays for these ANDAs will begin to expire in June 2016.
	In early November 2014, the Company, Forest, and Merz entered into a Settlement Agreement with Wockhardt Limited, one of the parties sued by the Company and Forest for infringement of the Company's patents. Pursuant to this agreement, Wockhardt received a non-exclusive license to make and sell its generic versions of Namenda XR starting March 23, 2026, which is two months prior to the expiration of the last to expire of the Company's relevant patents. In January 2015, the Company and Forest entered into settlements with additional parties on comparable terms to the Wockhardt settlement.
	From time to time, the Company may be party to legal proceedings, investigations, and claims in the ordinary course of its business. Other than the matters described above, the Company is not presently a party to any material legal proceedings.

Convertible_Preferred_Stock

Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2014
Convertible Preferred Stocks
Convertible Preferred Stock
	9. CONVERTIBLE PREFERRED STOCK
	The Company's amended and restated certificate of incorporation filed on April 15, 2014, authorizes 5,000,000 shares of convertible preferred stock, of which there were no shares outstanding as of December 31, 2014.
	At December 31, 2013, the convertible preferred stock consisted of the following (in thousands except share and per share data):
		Shares
						Per Share		Carrying
						Liquidation		Value
	Series	Authorized		Outstanding		Preference
	Series AA		5,000,000		3,431,620	$	3.81	$	6,521
	Series AA-1		1,700,000		1,287,554		50.00		12,628
			6,700,000		4,719,174			$	19,149

Shareholders_Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2014
Shareholders' Equity
Shareholders' Equity
	10. STOCKHOLDERS' EQUITY
	Common Stock
	The amended and restated certificate of incorporation authorizes the Company to issue 100,000,000 shares of common stock. Common stockholders are entitled to dividends as and when declared by the board of directors, subject to the rights of holders of all classes of stock outstanding having priority rights as to dividends. There have been no dividends declared to date. Each share of common stock is entitled to one vote.
	The Company has classified all unvested shares of common stock issued upon the early exercise of stock options as employee deposits (a liability) as these options are not considered to be substantively exercised until vested. At December 31, 2014 and December 31, 2013, 13,000 and zero shares of common stock, respectively, from early exercised options were unvested.
	Shares reserved for Future Issuance
	Shares of Company's common stock reserved for future issuance are as follows:
		December 31,		December 31,
		2014		2013
	Conversion of convertible preferred stock		—		3,432,908
	Common stock options outstanding		4,981,522		3,567,858
	Common stock options available for grant		1,584,378		1,771,212
	Employee stock purchase plan		249,887		—
	Warrants to purchase common stock		7,116		213,290
	Warrants to purchase convertible preferred stock		—		622,660
	Total		6,822,903		9,607,928

StockBased_Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2014
Stock Option Plans
Stock-Based Compensation
	11. STOCK-BASED COMPENSATION
	The following table reflects stock-based compensation expense recognized for the years ended December 31, 2014, 2013 and 2012 (in thousands):
			Years Ended December 31,
			2014			2013			2012
	Research and development		$	2,488		$	304		$	269
	General and administrative			4,715			336			528
	Total expense		$	7,203		$	640		$	797
	Stock Compensation Plans
	In October 2002, the Company established its 2002 Employee, Director and Consultant Stock Plan and in December 2007, the Company established its 2007 Stock Plan. No further grants were then made under the 2002 Plan.
	In February 2014, the Company's board of directors adopted, and in March 2014 the Company's stockholders approved, the 2014 Equity Incentive Plan (the "2014 Plan"), which became effective on the completion of the IPO. No further grants were then made under the 2007 Plan. Under the 2014 Plan, 1,993,394 shares of the Company's common stock were made available for issuance as of the effective time, which (i) included all shares that, as of the effective time, were reserved for issuance pursuant to the 2007 Plan, and (ii) is subject to further increase for shares that were subject to outstanding options under the 2007 Plan and the 2002 Plan as of the effective time that thereafter expire, terminate, or otherwise are forfeited or reacquired. The number of shares of the Company's common stock reserved for issuance pursuant to the 2014 Plan will automatically increase on the first day of each fiscal year for a period of up to 10 years, commencing on the first day of the fiscal year following 2014, in an amount equal to 4% of the total number of shares of the Company's capital stock outstanding on the last day of the preceding fiscal year, or a lesser number of shares as determined by our board of directors.
	Options granted under the 2014 Stock Plan may have terms of up to ten years. All options issued to date have had a ten year life. The exercise price of an ISO shall not be less than 100% of the estimated fair value of the shares on the date of grant, as determined by the board of directors. The exercise price of an ISO and NSO granted to a 10% shareholder shall not be less than 110% of the estimated fair value of the shares on the date of grant, respectively, as determined by the board of directors. The exercise price of a NSO shall not be less than the par value per share of common stock. The options granted generally vest over four years and vest at a rate of 25% upon the first anniversary of the issuance date and 1/48th per month thereafter.
	Employee Stock Purchase Plan
	In February 2014, the Company's board of directors adopted and, in March 2014, the Company's stockholders approved, the 2014 Employee Stock Purchase Plan (the "ESPP"), which became effective on the completion of the Company's IPO. The ESPP authorized the issuance of 262,762 shares. Under the ESPP, employees, subject to certain restrictions, may purchase shares of common stock at 85% of the fair market value at either the beginning of the offering period or the date of purchase, whichever is less. Purchases are limited to the lesser of 15% of each employee's eligible annual compensation or $25,000. Through the end of 2014, the Company issued a total of 12,875 shares under the ESPP. The number of shares available for future issuance under the plan were 249,887 at December 31, 2014. Beginning January 1, 2015 and continuing through and including January 1, 2024, the amount of common stock reserved for issuance under the ESPP will increase annually on that date by the lesser of (i) one percent (1%) of the total number of shares of common stock outstanding on such December 31, (ii) 520,000 shares of common stock, or (iii) a number of shares as determined by the Board of Directors prior to the beginning of each year, which shall be the lesser of (i) or (ii) above.
	Valuation Assumptions
	The Company's method of valuation for share-based awards is based on the Black-Scholes model. The Company's determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company's stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to the Company's expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. A description of the assumptions follows:
	•	The expected stock price volatility assumption was determined by examining the historical volatilities of a group of industry peers, as the Company had limited trading history for the Company's common stock due to the recent IPO. The Company will continue to analyze the historical price volatility and expected term assumptions as more historical data for the Company's common stock become available.
	•	The risk-free interest rate is based on the U.S. Treasury zero-coupon issues with remaining terms similar to the expected term on the options.
	•	The expected term of the options granted is determined using the average period the stock options are expected to remain outstanding and is based on the options vesting term, contractual terms and historical exercise and vesting information used to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior.
	•	The expected dividend yield assumption was based on the Company's historical and expectation of dividend payouts.
	•	Forfeitures were estimated based on historical experience.
	•	Determination of the fair value of the shares of common stock underlying the stock options historically has been the responsibility of the Company's board of directors. Subsequent to the IPO in April 2014, the fair value of common stock is determined based on the closing price of the NASDAQ Global Market exchange.
	As stock-based compensation expense recognized in the Consolidated Statement of Operations for fiscal years 2014, 2013 and 2012 is based on awards ultimately expected to vest, each has been reduced for estimated forfeitures. ASC 718-10 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
	The Company estimated the fair value of each option grant on the date of grant using the Black-Scholes model with the following weighted-average assumptions:
			Years Ended December 31,
			2014		2013		2012
	Expected price volatility		90% - 96%		89% - 100%		91% - 92%
	Risk-free interest rate		1.84% - 2.20%		1.45% - 2.48%		1.15% - 1.41%
	Expected term (in years)		6.75 - 7.00		7.25		7
	Dividend yield		—		—		—
	The Company estimated the fair value of stock purchased under the ESPP on the date of purchase using the Black-Scholes model with the following weighted-average assumptions:
			Years Ended December 31,
			2014		2013			2012
	Expected price volatility		67% - 75%			—			—
	Risk-free interest rate		0.02% - 0.05%			—			—
	Expected term (in years)		0.5			—			—
	Dividend yield		—			—			—
	Stock-based compensation expense related to employee stock plan purchases for the year ended December 31, 2014 was $69,200 and zero in 2013 and 2012.
	During the years ended December 31, 2014, 2013, and 2012, the Company granted stock options to employees to purchase 2,310,583, 522,000, and 440,000 shares of common stock respectively, with a weighted-average grant date fair value of $10.77, $8.73, and $1.09, respectively. As of December 31, 2014, there was total unrecognized compensation cost of approximately $20.6 million. This cost is expected to be recognized over a period of 3.8 years. The total fair value of employee stock options vested for the year ended December 31, 2014 and 2013 was $882,000 and $241,000, respectively.
	Stock-based compensation expense related to employee options for the years ended December 31, 2014, 2013, and 2012 was $4.0 million, $275,000, and $221,000, respectively.
	The stock option and related activity under all of our stock option plans is summarized as follows:
			Outstanding Options
	Stock Options		Number of			Weighted-			Aggregate
			Shares			Average			Intrinsic
						Exercise			Value
						Price			(thousands)
	Balances, December 31, 2012			3,155,182		$	1.1
	Options granted			616,000			3.08
	Options exercised			(15,666	)		1.37
	Options forfeited			(187,658	)		1
	Balances, December 31, 2013			3,567,858		$	1.45
	Options granted			2,510,133			11.31
	Options exercised			(738,539	)		1.4
	Options forfeited			(349,932	)		6.01
	Options expired			(7,998	)		0.34
	Balances, December 31, 2014			4,981,522		$	6.1		$	56,335
	The aggregate intrinsic value of options exercised, representing the difference between the closing price of the Company's common stock on the date of exercise and the exercise price was approximately $10.0 million, $29,000, and $8,100 for the years ended December 31, 2014, 2013, and 2012, respectively.
	The following table summarizes information concerning outstanding and exercisable options outstanding at December 31, 2014:
			Options Outstanding								Options Exercisable
	Range of Exercise Prices		Number of			Weighted-			Weighted-		Number of		Weighted-
			Shares			Average			Average		Shares		Average
						Remaining			Exercise				Exercise
						Life (in years)			Price				Price
	$0.00 - 0.99			1,451,400			6.74		$	0.66		1,451,400	$	0.66
$1.00 - 8.99			1,154,989			5.19			2.39		1,154,989		2.39
$9.00 - 14.99			1,934,500			9.21			9.83		1,766,000		9.38
$15.00 - 18.74			440,633			9.71			17.38		15,433		18.54
			4,981,522			7.60		$	6.10		4,387,822	$	4.69
The weighted average remaining contractual life and aggregated intrinsic value of options exercisable as of December 31, 2014 are 7.31 years and $55.6 million, respectively. The aggregate intrinsic value is calculated as the pre-tax difference between the weighted-average exercise price of the underlying awards and the closing price per share of $17.37 of the Company's common stock on December 31, 2014. The calculation excludes any awards with an exercise price higher than the closing price of the Company's common stock on December 31, 2014.
Non-employee Stock-Based Compensation
During the years ended December 31, 2014, 2013, and 2012, the Company granted options to purchase 199,550, 94,000, and 105,000 shares of common stock to consultants, respectively. These options are granted in exchange for consulting services to be rendered and vest over the term of the consulting agreement.
The Company estimated the fair value of each option grant on the date of grant using the Black-Scholes model with the following weighted-average assumptions:
		Years Ended December 31,
		2014		2013		2012
Expected price volatility		72% - 98%		88% - 98%		89% - 92%
Risk-free interest rate		0.81% - 2.75%		1.02% - 2.72%		0.87% - 1.93%
Expected term (in years)		3.25 - 10.00		3.25 - 10.00		6.25 - 10.00
Dividend yield		—		—		—
Compensation expense related to non-employee options for years ended December 31, 2014, 2013, and 2012 was approximately $3.2 million, $365,000, and $575,000, respectively.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Taxes
Income Taxes
	12. INCOME TAXES
	Income before provision for income tax is summarized as follows (in thousands):
		Year Ended December 31,
		2014			2013			2012
	United States	$	17,599		$	52,095		$	17,989
	International		(2	)		17			47
	Total	$	17,597		$	52,112		$	18,036
	The income tax provision is summarized as follows (in thousands):
		December 31,
		2014			2013			2012
	Current:
	Federal	$	7,367		$	1,190		$	297
	State		7			1			6
	Foreign		—			(1	)		(2	)
			7,374			1,190			301
	Deferred:
	Federal		—			—			—
	State		—			—			—
	Foreign		—			1			(1	)
			—			1			(1	)
	Provision for income taxes	$	7,374		$	1,191		$	300
	During 2014, the Company reduced its current Federal and state taxes payable by $1. 6 million related to excess tax benefits from stock-based compensation, offsetting additional paid-in capital. The provision for income taxes differs from the amount computed by applying the federal income tax rate of 35% to pretax income from operations as a result of the following:
		December 31,
		2014			2013			2012
	Statutory federal income tax rate	$	6,159		$	18,239		$	6,313
	AMT taxes		—			—			263
	State income taxes, net of federal tax benefits		1			1			4
	Warrants		344			1,584			466
	Foreign rate differential		1			(6	)		(20	)
	Tax credits		(168	)		(119	)		(263	)
	Change in statutory rates		—			(61	)		(804	)
	Stock compensation		302			—			—
	Other		(70	)		(59	)		176
	Change in valuation allowance		805			(18,388	)		(5,835	)
	Income tax provision	$	7,374		$	1,191		$	300
	Significant components of the Company's deferred tax assets are as follows (in thousands):
		December 31,
		2014			2013
	Net operating loss carryforwards	$	4,736		$	5,459
	Research and development tax credits		1,107			1,187
	Accruals and reserves		176			103
	Stock compensation		2,584			660
	Depreciation and amortization		1,646			1,804
	Total deferred tax assets		10,249			9,213
	Less: Valuation allowance		(10,249	)		(9,213	)
	Net deferred tax assets	$	—		$	—
	The deferred income tax assets have been fully offset by a valuation allowance, as realization is dependent on future earnings, if any, the timing and amount of which are uncertain. The net valuation allowance increased by $1.0 million for the year ended December 31, 2014 and decreased by $18.5 million and $5.8 million for the years ended December 31, 2013 and 2012, respectively.
	The Company's accounting for deferred taxes involves the evaluation of a number of factors concerning the realizability of its net deferred tax assets. The Company primarily considered such factors as its history of operating losses, the nature of the Company's deferred tax assets, and the timing, likelihood, and amount, if any, of future taxable income during the periods in which those temporary differences and carryforwards become deductible. At present, the Company does not believe that it is more likely than not that the deferred tax assets will be realized; accordingly, a full valuation allowance has been established and no deferred tax asset is shown in the accompanying balance sheets.
	As of December 31, 2014 and December 31, 2013, the Company had federal net operating loss carryforwards of approximately $1.5 million and $3.5 million, respectively, available to reduce future taxable income. The Company also had state net operating loss carryforwards of approximately $73.3 million and $73.4 million as of December 31, 2014 and December 31, 2013, respectively. The federal net operating loss carryforward begins expiring in 2024, and the state net operating loss carryforward begins expiring in 2015, if not utilized.
	The Company also had federal research and development tax credit carryforwards of approximately $0.6 million. If not utilized, the carryforwards will begin expiring in 2023. The Company has state research and development credit carryforwards or approximately $2.5 million which do not expire.
	Under federal and similar state tax statutes, changes in our ownership may limit our ability to use our available net operating loss and tax credit carryforwards. The annual limitation, as a result of a change of control, may result in the expiration of net operating losses and credits before utilization.
	The Company has determined that an ownership change occurred on June 25, 2008 and our annual limitation is $2.0 million. The Company does not currently have any prior ownership changes that will have a material impact on its ability to utilize its existing federal net operating losses and credit.
	The Company's ability to use its remaining net operating loss and tax credit carryforwards may be further limited if the Company experiences a Section 382 ownership change in connection with future changes in our stock ownership.
	Uncertain Tax Positions
	The total amounts of unrecognized tax benefits for the years ended December 31, 2014, 2013, 2012 were $2.6 million, $2.3 million and $1.9 million, respectively. If recognized, $1.3 million of unrecognized tax benefits would affect the effective tax rate.
	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
		December 31,
		2014			2013			2012
	Balance at the beginning of the year	$	2,270		$	1,880		$	1,676
	Additions based on prior period tax positions		348			184			—
	Reductions based on prior period tax positions		(10	)		—			—
	Reductions based on current period tax positions		—			206			204
	Balance at the end of the year	$	2,608		$	2,270		$	1,880
The Company's policy is to account for interest and penalties as income tax expense. During the year ended December 31, 2014, the Company accrued $11,000 of interest related to unrecognized tax benefits. The Company accrued no interest expense related to unrecognized tax benefits during 2013 and 2012.
The Company files income tax returns in the U.S. federal jurisdiction, California, and India. The Company is subject to U.S. federal income tax examination for the calendar years ending 2001 through 2014 due to tax attributes that have been carried forward for tax purposes. Additionally, the Company is subject to state income tax examinations for the 2003 through 2014 calendar years due to tax attributes that are being carried forward for tax purposes. The Company is subject to audit by the Indian tax authorities from 2012 onward. The Company is not currently under audit in any major tax jurisdiction.

Net_Income_per_Share

Net Income per Share	12 Months Ended
	Dec. 31, 2014
Net Income Per Share
Net Income per Share
	13. NET INCOME PER SHARE
	A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net income per share is as follows (in thousands, except per share data):
		December 31,
		2014			2013			2012
	Historical net income per share
	Numerator:
	Net income	$	10,223		$	50,921		$	17,736
	Noncumulative dividend on preferred stock		(432	)		(1,436	)		(1,268	)
	Undistributed earnings allocated to preferred stock holders		(823	)		(16,417	)		(5,027	)
	Basic net income attributable to common stockholders		8,968			33,068			11,441
	Adjustment to net income for dilutive securities		101			2,285			155
	Diluted net income attributable to common stockholders	$	9,069		$	35,353		$	11,596
	Denominator:
	Basic common shares outstanding:
	Basic common shares outstanding: weighted average common shares outstanding		14,849			9,508			9,490
	Less: weighted average unvested common shares subject to repurchase		(12	)		(2	)		(2	)
	Weighted average number of common shares used in calculating net income per share—basic		14,837			9,506			9,488
	Dilutive securities:
	Common stock options		2,148			2,204			436
	Warrants to purchase common stock		122			96			—
	Weighted average number of common shares used in calculating net income per share—diluted		17,107			11,806			9,924
	Net income per share to attributable to common stockholders
	Basic	$	0.6		$	3.48		$	1.21
	Diluted	$	0.53		$	3		$	1.17
	The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net income per share of common stock for the periods presented, because including them would have been anti-dilutive (in thousands):
		December 31,
		2014			2013			2012
	Convertible preferred stock		—			4,719			9,500
	Options to purchase common stock		441			—			—
	Warrants to purchase convertible preferred stock		—			623			623
	Warrants to purchase common stock		—			—			213
	Total		441			5,342			10,336

Quarterly_Financial_Informatio

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited)
	14. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
	The following table represents certain unaudited quarterly information for the eight quarters ended December 31, 2014. This data has been derived from unaudited consolidated financial statements that, in the opinion of the Company's management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of such information when read in conjunction with the Company's annual audited consolidated financial statements and notes thereto appearing elsewhere in this report. These operating results are not necessarily indicative of results for any future period (in thousands, except per share data):
		2014										2013
		Dec 31,		Sep 30,			June 30,		Mar 31,			Dec 31,		Sep 30,			June 30,			Mar 31,
		2014		2014			2014		2014			2013		2013			2013			2013
	Revenue	$	30,301	$	215		$	25,154	$	176		$	40,110	$	161		$	241		$	30,583
	Operating expenses		13,265		9,765			8,435		5,867			4,986		2,958			2,935			3,198
	Net income (loss)		9,731		(9,557	)		16,429		(6,380	)		30,944		(3,439	)		(3,353	)		26,769
	Net income (loss) per share attributable to common stockholders:
	Basic		0.56		(0.57	)		1.05		(0.67	)		2.58		(0.36	)		(0.35	)		1.86
	Diluted		0.5		(0.57	)		0.88		(0.67	)		2.35		(0.36	)		(0.35	)		1.7

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies
Basis of Presentation and Use of Estimates
	Basis of Presentation and Use of Estimates
	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses in the consolidated financial statements and the accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, clinical trial accruals, fair value of assets and liabilities, income taxes, and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results may differ from those estimates.
	To date, nearly all of the Company's resources have been dedicated to the research and development of its products, and the Company has not generated any commercial revenue from the sale of its products. The Company does not anticipate the generation of any commercial product revenue until it receives the necessary regulatory approvals to launch one of its products.
	Based upon the current status of, and plans for, its product development, the Company believes that the existing cash and cash equivalents will be adequate to satisfy the Company's capital needs through at least the next twelve months. However, the process of developing and commercializing products requires significant research and development, preclinical testing and clinical trials, manufacturing arrangements, as well as regulatory approvals. These activities, together with the Company's general and administrative expenses, are expected to result in significant operating losses until the commercialization of the Company's products or partner collaborations generate sufficient revenue to cover expenses. While the Company had net income during 2014, 2013, and 2012, it has not generated any commercial revenue from sales of its products and under its license with Forest, received the final milestone payment in 2014, and is not currently entitled to receive any royalties for sales of Namenda XR and Namzaric. To achieve sustained profitability, the Company, alone or with others, must successfully develop its product candidates, obtain required regulatory approvals, and successfully manufacture and market its products.
Forward Stock Split	Forward Stock Split
	In March 2014, the Board of Directors of the Company and stockholders approved a forward stock split of the Company's common and preferred stock. As a result, common and preferred stock, stock options and warrants to purchase common and preferred stock were adjusted in the ratio of 2:1, effective March 24, 2014. All common and preferred shares and per share amounts presented in these condensed consolidated financial statements for all periods have been retroactively adjusted to reflect the 2-for-1 forward stock split. No fractional shares were issued.
Cash and Cash Equivalents	Cash and Cash Equivalents
	Cash and cash equivalents consist of highly liquid investments with original maturities, when purchased, of less than three months.
Investments	Investments
	The Company classifies its investments as "available-for-sale." In general, these investments are free of trading restrictions. The Company carries these investments at fair value, based on quoted market prices or other readily available market information. Quoted market prices for US government and corporate bonds include both principal and accrued interest components. Unrealized gains and losses are included in accumulated other comprehensive income, which is reflected as a separate component of stockholders' equity in our Consolidated Balance Sheets. Gains and losses are recognized when realized in our Consolidated Statements of Income. When the Company determines that an other-than-temporary decline in fair value has occurred, the amount of the decline that is related to a credit loss is recognized in income. Gains and losses are determined using the specific identification method. The Company considers all marketable debt securities with a maturity of less than one year to be short-term investments, with all others considered to be long-term investments.
	All of our available-for-sale securities are subject to a periodic impairment review. We recognize an impairment charge when a decline in the fair value of our investments below the cost basis is judged to be other-than-temporary. Factors considered in determining whether a loss is temporary include the length of time and extent to which the investments' fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, extent of the loss related to credit of the issuer, the expected cash flows from the security, our intent to sell or hold the security, and whether or not we will be required to sell the security before the recovery of its amortized cost.
Consolidation	Consolidation
	The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.
Segment	Segments
	In accordance with ASC 280-10-50, Segment Reporting, operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company operates in one segment: the development and commercialization of therapeutics targeting chronic disorders of the central nervous system.
Revenue Recognition	Revenue Recognition
	The Company recognizes revenue when all four of the following criteria have been met: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered, (iii) the fee is fixed or determinable and (iv) collectability is reasonably assured. Revenue under license and collaboration arrangements is recognized based on the performance requirements of the contract. Determinations of whether persuasive evidence of an arrangement exists and whether delivery has occurred or services have been rendered are based on management's judgments regarding the fixed nature of the fees charged for deliverables and the collectability of those fees. Should changes in conditions cause management to determine that these criteria are not met for any new or modified transactions, revenue recognized could be adversely affected.
	The Company generates revenue from collaboration and license agreements for the development and commercialization of products. Collaboration and license agreements may include non-refundable upfront license fees, partial or complete reimbursement of research and development costs, contingent consideration payments based on the achievement of defined collaboration objectives and royalties on sales of commercialized products. The Company's performance obligations under the collaborations may include the license or transfer of intellectual property rights, obligations to provide research and development services and related materials and obligations to participate on certain development and/or commercialization committees with the collaborators.
	On January 1, 2011, the Company adopted an accounting standards update that amends the guidance on accounting for new arrangements, or those materially modified, with multiple deliverables. This guidance eliminates the requirement for objective and reliable evidence of fair value of the undelivered items in order to consider a deliverable a separate unit of accounting. It also changes the allocation method such that the relative-selling-price method must be used to allocate arrangement consideration to the units of accounting in an arrangement. This guidance establishes the following estimation hierarchy that must be used in estimating selling price under the relative-selling-price method: (i) vendor-specific objective evidence of fair value of the deliverable, if it exists, (ii) third-party evidence of selling price, if vendor-specific objective evidence is not available or (iii) vendor's best estimate of selling price, if neither vendor-specific nor third-party evidence is available.
	On January 1, 2011, the Company adopted an accounting standards update that provides guidance on revenue recognition using the milestone method. Payments that are contingent upon achievement of a substantive milestone are recognized in their entirety in the period in which the milestone is achieved. Milestones are defined as events that can only be achieved based on the Company's performance and there is substantive uncertainty about whether the event will be achieved at the inception of the arrangement. Events that are contingent only on the passage of time or only on counterparty performance are not considered milestones subject to this guidance. Further, the amounts received must relate solely to prior performance, be reasonable relative to all of the deliverables and payment terms within the agreement and commensurate with the Company's performance to achieve the milestone after commencement of the agreement.
	Amounts related to research and development funding are recognized as the related services or activities are performed, in accordance with the contract terms. Payments may be made to or by the Company based on the number of full-time equivalent researchers assigned to the collaboration project and the related research and development expenses incurred.
Concentration of Credit Risk	Concentration of Credit Risk
	Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents and short and long-term investments. Cash, cash equidamalents and investments are deposited with financial institutions or invested in security issuers that management believes are creditworthy. Deposits may, at times, exceed the amount of insurance provided on such deposits. To date, we have not experienced any losses on invested cash and cash equivalents.
Risk and Uncertainties	Risk and Uncertainties
	The Company's future results of operations involve a number of risks and uncertainties. Factors that could affect the Company's future operating results and cause actual results to vary materially from expectations include, but are not limited to, rapid technological change, uncertainty of results of clinical trials and reaching milestones, uncertainty of market acceptance of the Company's products, competition from substitute products and larger companies, protection of proprietary technology, strategic relationships, and dependence on key individuals.
	Products developed by the Company require approvals from the U.S. Food and Drug Administration ("FDA") or other international regulatory agencies prior to commercial sales. There can be no assurance that the products will receive the necessary approvals. If the Company was denied approval, approval was delayed or the Company was unable to maintain approval, it could have a materially adverse impact on the Company.
	The Company has expended and will continue to expend substantial funds to complete the research, development and clinical testing of product candidates. The Company also will be required to expend additional funds to establish commercial-scale manufacturing arrangements and to provide for the marketing and distribution of products that receive regulatory approval. The Company may require additional funds to commercialize its products. The Company is unable to entirely fund these efforts with its current financial resources. Additional funds may not be available on acceptable terms, if at all. If adequate funds are unavailable on a timely basis from operations or additional sources of financing, the Company may have to delay, reduce the scope of or eliminate one or more of its research or development programs which would materially and adversely affect its business, financial condition and operations.
Property and Equipment	Property and Equipment
	Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally between three and ten years. Leasehold improvements are amortized on a straight-line basis over the lesser of their useful life or the term of the lease, which is five years. Maintenance and repairs are charged to expense as incurred, and improvements and betterments are capitalized. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the consolidated balance sheet and any resulting gain or loss is reflected in operations in the period realized.
Leases	Leases
	At the inception of a lease, the Company evaluates the lease agreement to determine whether the lease is an operating, capital or build-to-suit lease using the criteria in ASC 840, "Leases." Certain lease agreements also require the Company to make additional payments for taxes, insurance, and other operating expenses incurred during the lease period, which are expensed as incurred. For operating leases, the Company recognizes rent expense on a straight-line basis over the lease term and records the difference between cash rent payments and the recognition of rent expense as a deferred liability. Where lease agreements contain rent escalation clauses, rent abatements and/or concessions, such as rent holidays and tenant improvement allowances, the Company applies them in the determination of straight-line expense over the lease term.
Accounting for Long-Lived Assets	Accounting for Long-Lived Assets
	The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by the comparison of the carrying amount to the future net cash flows that the assets are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the projected discounted future net cash flows arising from the asset. There have been no such impairments of long-lived assets as of December 31, 2014.
Clinical Trial Accruals	Clinical Trial Accruals
	The Company's clinical trial accruals are based on estimates of patient enrollment and related costs at clinical investigator sites as well as estimates for the services received and efforts expended pursuant to contracts with multiple research institutions and clinical research organizations ("CROs") that conduct and manage clinical trials on the Company's behalf.
	The Company estimates clinical trial expenses based on the services performed pursuant to contracts with research institutions and clinical research organizations that conduct and manage clinical trials on its behalf. In accruing service fees, the Company obtains the reported level of patient enrollment at each site and estimates the time period over which services will be performed and activity expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. Payments made to third parties under these arrangements in advance of the receipt of the related services are recorded as prepaid expenses until the services are rendered.
Research and Development	Research and Development
	Research and development ("R&D") expenses include salaries, contractor and consultant fees, external clinical trial expenses performed by contract research organizations ("CRO"), licensing fees, acquired intellectual property with no alternative future use, and facility and administrative expense allocations. In addition, we fund R&D at research institutions under agreements that are generally cancelable at our option. Research costs typically consist of applied research and preclinical and toxicology work. Pharmaceutical manufacturing development costs consist of product formulation, chemical analysis, and the transfer and scale-up of manufacturing at our contract manufacturers. Clinical development costs include the costs of Phase 1, Phase 2, and Phase 3 clinical trials. These costs are a significant component of our research and development expenses.
	We accrue costs for clinical trial activities performed by contract research organizations and other third parties based upon the estimated amount of work completed on each study as provided by the CRO. These estimates are reviewed for reasonableness by our internal clinical personnel, and we aim to match the accrual to actual services performed by the organizations as determined by patient enrollment levels and related activities. We monitor patient enrollment levels and related activities using available information; however, if we underestimate activity levels associated with various studies at a given point in time, we could be required to record significant additional R&D expenses in future periods when the actual activity level becomes known. We charge all such costs to R&D expenses. Non-refundable advance payments are capitalized and expensed as the related goods are delivered or services are performed.
Convertible Preferred Stock..	Convertible Preferred Stock
	The Company classifies the convertible preferred stock as temporary equity on the balance sheets due to certain change of control events that are outside the Company's control, including liquidation, sale, or transfer of the Company, as holders of the convertible preferred stock could have caused redemption of the shares. Shares of convertible preferred stock were converted to common stock upon close of the IPO in April 2014.
Convertible Preferred Stock Warrants	Convertible Preferred Stock Warrants
	The Company accounts for its convertible preferred stock warrants as a liability based upon the characteristics and provisions of each instrument. Convertible preferred stock warrants classified as a liability are recorded on the Company's balance sheet at their fair value on the date of issuance and were revalued on each subsequent balance sheet, with fair value changes recognized as increases or reductions in the statements of operations. The Company adjusted the liability for changes in fair value of these warrants until the earlier of: (i) exercise of warrants, (ii) expiration of warrants, (iii) a change of control of the Company, or (iv) the closing of the Company's IPO. At those times, the convertible preferred stock warrant liability was adjusted to fair value in the condensed consolidated statements of operations and comprehensive income and, upon the closing of the Company's IPO in April 2014, the final fair value was reclassified to additional paid-in capital.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	The carrying value of the Company's cash and cash equivalents, short-term investments, accounts receivable, long-term investments and other current assets, other assets, accounts payable, accrued liabilities approximate fair value due to the short-term nature or determinable value of these items. The fair value of convertible preferred stock warrants is determined using readily available market information.
	See also Note 4 for further details of our fair value instruments.
Income Taxes	Income Taxes
	The Company accounts for income taxes under the asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.
	The Company follows the provisions of ASC 740, Income Taxes, under which we assess all material positions taken in any income tax return, including all significant uncertain positions, in all tax years that are still subject to assessment or challenge by relevant taxing authorities. Assessing an uncertain tax position begins with the initial determination of the position's sustainability and is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. As of each balance sheet date, unresolved uncertain tax positions must be reassessed, and the Company will determine whether (i) the factors underlying the sustainability assertion have changed and (ii) the amount of the recognized tax benefit is still appropriate. The recognition and measurement of tax benefits requires significant judgment. Judgments concerning the recognition and measurement of a tax benefit might change as new information becomes available.
Basic and Diluted Net Income Per Share Attributable to Common Stockholders	Basic and Diluted Net Income Per Share Attributable to Common Stockholders
	Basic net income per share attributable to common stockholders is based upon the weighted average number of common shares outstanding during the period. Diluted net income per share attributable to common stockholders is based upon the weighted average number of common shares outstanding and dilutive common stock equivalents outstanding during the period. Common stock equivalents are options granted under our stock awards plans and are calculated under the treasury stock method. Common equivalent shares from unexercised stock options and convertible preferred stock warrants are excluded from the computation when there is a loss as their effect is anti-dilutive, or if the exercise price of such options is greater than the average market price of the stock for the period.
	Prior to April 10, 2014, the Company calculated its basic and diluted net income (loss) per share attributable to common stockholders in conformity with the two-class method required for companies with participating securities. Under the two-class method, the Company determined whether it had net income attributable to common stockholders, which includes the results of operations less current period convertible preferred stock non-cumulative dividends. If it was determined that the Company had net income attributable to common stockholders during a period, the related undistributed earnings were then allocated between common stock and the convertible preferred stock based on the weighted average number of shares outstanding during the period to determine the numerator for the basic net income per share attributable to common stockholders. In computing diluted net income attributable to common stockholders, undistributed earnings are re-allocated to reflect the potential impact of dilutive securities to determine the numerator for the diluted net income per share attributable to common stockholders.
Stock-Based Compensation	Stock-Based Compensation
	The Company accounts for stock-based compensation of stock options granted to employees and directors and for employee stock purchase plan shares by estimating the fair value of stock-based awards using the Black-Scholes option-pricing model and amortizing the fair value of the stock-based awards granted over the applicable vesting period. All stock options awards to non-employees are accounted for at the fair value of the consideration received or the fair value of the equity instrument issued, as calculated using the Black-Scholes model. The measurement of nonemployee stock-based compensation is subject to periodic adjustment as the underlying equity instruments vest.
	In order to estimate the value of share-based awards, the Company uses the Black-Scholes model, which requires the use of certain subjective assumptions. The most significant subjective assumptions are management's estimates of the expected volatility and the expected term of the award. In addition, judgment is also required in estimating the amount of share-based awards that are expected to be forfeited. If actual results differ significantly from any of these estimates, stock-based compensation expense and the Company's results of operations could be materially impacted.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers. The amendment in this ASU provides guidance on the revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The core principle of this update provides guidance to identify the performance obligations under the contract(s) with a customer and how to allocate the transaction price to the performance obligations in the contract. It further provides guidance to recognize revenue when (or as) the entity satisfies a performance obligation. This standard will replace most existing revenue recognition guidance when it becomes effective January 1, 2017. Early adoption is not permitted. We have not yet selected a transition method nor have we determined the effect of the standard on our consolidated financial position and results of operations.
	In July 2013, the FASB issued ASU No. 2013-11, "Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." This update clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss, or NOL, carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where an NOL carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The Company adopted this amended guidance prospectively as of January 1, 2014. The adoption of this amended guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.

Balance_Sheet_Components_Table

Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2014
Balance Sheet Components
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets (in thousands)
		December 31,
		2014			2013
	Prepaid expenses	$	414		$	237
	Prepaid clinical trial		227			10
	Other current assets		4			20
		$	645		$	267
Schedule of property and equipment, net	Property and equipment, net (in thousands)
		December 31,
		2014			2013
	Computer equipment and software	$	385		$	330
	Office equipment		60			60
	Furniture and fixtures		260			121
	Leasehold improvements		763			25
			1,468			536
	Less: Accumulated depreciation and amortization		(240	)		(337	)
		$	1,228		$	199
Schedule of accrued liabilities	Accrued liabilities (in thousands)
		December 31,
		2014			2013
	Accrued vacation	$	465		$	317
	Accrued salaries and related benefit expenses		1,422			1,349
	Clinical trial accruals		1,351			104
	Accrued professional fees		380			—
	Accrued consulting expenses		36			180
	Income and other taxes		4,773			101
	Other		168			68
		$	8,595		$	2,119

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value Measurements
Schedule of assets and the liability recorded at fair value, and the classification by level of input within the fair value hierarchy	The following table represents the fair value hierarchy for the Company's financial assets and liabilities which require fair value measurement on a recurring basis (in thousands):
		Fair Value Measurements at December 31,
		2014
		Total			Level 1		Level 2		Level 3
	Assets
	Money market fund	$	59,303		$	59,303	$	—	$	—
	Corporate debt		85,311			—		85,311		—
	U.S. Treasury notes		11,965			—		11,965		—
	Total	$	156,579		$	59,303	$	97,276	$	—
		Fair Value Measurements at December 31,
		2013
		Total			Level 1		Level 2		Level 3
	Assets
	Money market fund	$	83,700		$	83,700	$	—	$	—
	Liabilities
	Preferred stock warrant liability	$	6,232		$	—	$	—	$	6,232
Roll forward of the financial instruments classified within Level 3 of the fair value hierarchy	The following table includes a roll forward of the financial instruments classified within Level 3 of the fair value hierarchy (in thousands):
	Fair Value Using Level 3 Inputs	Amounts
	Balance at December 31, 2012	$	1,706
	Change in fair value recorded in Other (income)/expense, net		4,526
	Balance at December 31, 2013		6,232
	Change in fair value recorded in Other (income)/expense, net		983
	Exercise of warrants		(7,215	)
	Balance at December 31, 2014	$	—

Investments_Tables

Investments (Tables)	12 Months Ended
	Dec. 31, 2014
Investments
Available for sale debt and equity securities	The following table is a summary of amortized cost, unrealized gain and loss, and the fair value of available-for-sale investments as of December 31, 2014 (in thousands):
		December 31, 2014
		Amortized		Gross		Gross			Estimated
		Cost		Unrealized		Unrealized			Fair Value
				Gains		Losses
	Investments:
	Corporate debt	$	85,474	$	—	$	(163	)	$	85,311
	U.S. Treasury notes		11,982		—		(17	)		11,965
		$	97,456	$	—	$	(180	)	$	97,276
	Reported as:
	Short-term investments	$	61,014	$	—	$	(104	)	$	60,910
	Long-term investments		36,442		—		(76	)		36,366
	Total	$	97,456	$	—	$	(180	)	$	97,276

Warrants_to_Purchase_Common_or1

Warrants to Purchase Common or Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2014
Warrants to Purchase Common or Preferred Stock
Summary of the outstanding warrants
		Number of Shares
		Outstanding
		December 31,		December 31,
		2014		2013
	Series AA convertible preferred stock warrants		—		622,660
	Common stock warrants		7,116		213,278

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies
Schedule of future minimum lease payments under non-cancelable facility operating leases	As of December 31, 2014, future minimum lease payments under a non-cancelable facility operating lease including related office equipment were as follows (in thousands):
		December 31,
		2014
	2015	$	428
	2016		624
	2017		624
	2018		634
	2019		654
	Thereafter		223
	Total	$	3,187

Convertible_Preferred_Stock_Ta

Convertible Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2014
Convertible Preferred Stocks
Schedule of convertible preferred stock	At December 31, 2013, the convertible preferred stock consisted of the following (in thousands except share and per share data):
		Shares
						Per Share		Carrying
						Liquidation		Value
	Series	Authorized		Outstanding		Preference
	Series AA		5,000,000		3,431,620	$	3.81	$	6,521
	Series AA-1		1,700,000		1,287,554		50.00		12,628
			6,700,000		4,719,174			$	19,149

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2014
Shareholders' Equity
Schedule of shares of Company's common stock reserved for future issuance
		December 31,		December 31,
		2014		2013
	Conversion of convertible preferred stock		—		3,432,908
	Common stock options outstanding		4,981,522		3,567,858
	Common stock options available for grant		1,584,378		1,771,212
	Employee stock purchase plan		249,887		—
	Warrants to purchase common stock		7,116		213,290
	Warrants to purchase convertible preferred stock		—		622,660
	Total		6,822,903		9,607,928

Stock_Based_Compensation_Table

Stock -Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2014
Stock Option Plans
Schedule of allocation of total stock-based compensation expense	The following table reflects stock-based compensation expense recognized for the years ended December 31, 2014, 2013 and 2012 (in thousands):
		Years Ended December 31,
		2014			2013			2012
	Research and development	$	2,488		$	304		$	269
	General and administrative		4,715			336			528
	Total expense	$	7,203		$	640		$	797
Schedule of activity under the company's stock option plans
		Outstanding Options
	Stock Options	Number of			Weighted-			Aggregate
		Shares			Average			Intrinsic
					Exercise			Value
					Price			(thousands)
	Balances, December 31, 2012		3,155,182		$	1.1
	Options granted		616,000			3.08
	Options exercised		(15,666	)		1.37
	Options forfeited		(187,658	)		1
	Balances, December 31, 2013		3,567,858		$	1.45
	Options granted		2,510,133			11.31
	Options exercised		(738,539	)		1.4
	Options forfeited		(349,932	)		6.01
	Options expired		(7,998	)		0.34
	Balances, December 31, 2014		4,981,522		$	6.1		$	56,335
Summary of information about stock options
		Options Outstanding								Options Exercisable
	Range of Exercise Prices	Number of			Weighted-			Weighted-		Number of		Weighted-
		Shares			Average			Average		Shares		Average
					Remaining			Exercise				Exercise
					Life (in years)			Price				Price
	$0.00 - 0.99		1,451,400			6.74		$	0.66		1,451,400	$	0.66
	$1.00 - 8.99		1,154,989			5.19			2.39		1,154,989		2.39
	$9.00 - 14.99		1,934,500			9.21			9.83		1,766,000		9.38
	$15.00 - 18.74		440,633			9.71			17.38		15,433		18.54
			4,981,522			7.60		$	6.10		4,387,822	$	4.69
Employee Stock Options
Stock Option Plans
Schedule of assumptions used to estimate fair value of stock options
		Years Ended December 31,
		2014		2013		2012
	Expected price volatility	90% - 96%		89% - 100%		91% - 92%
	Risk-free interest rate	1.84% - 2.20%		1.45% - 2.48%		1.15% - 1.41%
	Expected term (in years)	6.75 - 7.00		7.25		7
	Dividend yield	—		—		—
Employee Stock Purchase Plan
Stock Option Plans
Schedule of assumptions used to estimate fair value of stock options
		Years Ended December 31,
		2014		2013			2012
	Expected price volatility	67% - 75%			—			—
	Risk-free interest rate	0.02% - 0.05%			—			—
	Expected term (in years)	0.5			—			—
	Dividend yield	—			—			—
Non-employees stock options
Stock Option Plans
Schedule of assumptions used to estimate fair value of stock options
		Years Ended December 31,
		2014		2013		2012
	Expected price volatility	72% - 98%		88% - 98%		89% - 92%
	Risk-free interest rate	0.81% - 2.75%		1.02% - 2.72%		0.87% - 1.93%
	Expected term (in years)	3.25 - 10.00		3.25 - 10.00		6.25 - 10.00
	Dividend yield	—		—		—

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Taxes
Summary of income before provision for income tax	Income before provision for income tax is summarized as follows (in thousands):
		Year Ended December 31,
		2014			2013			2012
	United States	$	17,599		$	52,095		$	17,989
	International		(2	)		17			47
	Total	$	17,597		$	52,112		$	18,036
Summary of income tax provision	The income tax provision is summarized as follows (in thousands):
		December 31,
		2014			2013			2012
	Current:
	Federal	$	7,367		$	1,190		$	297
	State		7			1			6
	Foreign		—			(1	)		(2	)
			7,374			1,190			301
	Deferred:
	Federal		—			—			—
	State		—			—			—
	Foreign		—			1			(1	)
			—			1			(1	)
	Provision for income taxes	$	7,374		$	1,191		$	300
Schedule showing the difference of provision for income taxes from the amount computed by applying the federal income tax rate of 35% to pretax income from operations
		December 31,
		2014			2013			2012
	Statutory federal income tax rate	$	6,159		$	18,239		$	6,313
	AMT taxes		—			—			263
	State income taxes, net of federal tax benefits		1			1			4
	Warrants		344			1,584			466
	Foreign rate differential		1			(6	)		(20	)
	Tax credits		(168	)		(119	)		(263	)
	Change in statutory rates		—			(61	)		(804	)
	Stock compensation		302			—			—
	Other		(70	)		(59	)		176
	Change in valuation allowance		805			(18,388	)		(5,835	)
	Income tax provision	$	7,374		$	1,191		$	300
Schedule of significant components of the Company's deferred tax assets	Significant components of the Company's deferred tax assets are as follows (in thousands):
		December 31,
		2014			2013
	Net operating loss carryforwards	$	4,736		$	5,459
	Research and development tax credits		1,107			1,187
	Accruals and reserves		176			103
	Stock compensation		2,584			660
	Depreciation and amortization		1,646			1,804
	Total deferred tax assets		10,249			9,213
	Less: Valuation allowance		(10,249	)		(9,213	)
	Net deferred tax assets	$	—		$	—
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
		December 31,
		2014			2013			2012
	Balance at the beginning of the year	$	2,270		$	1,880		$	1,676
	Additions based on prior period tax positions		348			184			—
	Reductions based on prior period tax positions		(10	)		—			—
	Reductions based on current period tax positions		—			206			204
	Balance at the end of the year	$	2,608		$	2,270		$	1,880

Net_Income_per_Share_Tables

Net Income per Share (Tables)	12 Months Ended
	Dec. 31, 2014
Net Income Per Share
Schedule of reconciliation of numerator and denominator used in calculation of basic and diluted net income per share	A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net income per share is as follows (in thousands, except per share data):
		December 31,
		2014			2013			2012
	Historical net income per share
	Numerator:
	Net income	$	10,223		$	50,921		$	17,736
	Noncumulative dividend on preferred stock		(432	)		(1,436	)		(1,268	)
	Undistributed earnings allocated to preferred stock holders		(823	)		(16,417	)		(5,027	)
	Basic net income attributable to common stockholders		8,968			33,068			11,441
	Adjustment to net income for dilutive securities		101			2,285			155
	Diluted net income attributable to common stockholders	$	9,069		$	35,353		$	11,596
	Denominator:
	Basic common shares outstanding:
	Basic common shares outstanding: weighted average common shares outstanding		14,849			9,508			9,490
	Less: weighted average unvested common shares subject to repurchase		(12	)		(2	)		(2	)
	Weighted average number of common shares used in calculating net income per share—basic		14,837			9,506			9,488
	Dilutive securities:
	Common stock options		2,148			2,204			436
	Warrants to purchase common stock		122			96			—
	Weighted average number of common shares used in calculating net income per share—diluted		17,107			11,806			9,924
	Net income per share to attributable to common stockholders
	Basic	$	0.6		$	3.48		$	1.21
	Diluted	$	0.53		$	3		$	1.17
Schedule of outstanding shares of potentially dilutive securities excluded from the computation of diluted net income per share of common stock, because including them would have been anti-dilutive	The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net income per share of common stock for the periods presented, because including them would have been anti-dilutive (in thousands):
		December 31,
		2014			2013			2012
	Convertible preferred stock		—			4,719			9,500
	Options to purchase common stock		441			—			—
	Warrants to purchase convertible preferred stock		—			623			623
	Warrants to purchase common stock		—			—			213
	Total		441			5,342			10,336

Quarterly_Financial_Informatio1

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information (Unaudited)
Schedule of unaudited quarterly information	These operating results are not necessarily indicative of results for any future period (in thousands, except per share data):
		2014										2013
		Dec 31,		Sep 30,			June 30,		Mar 31,			Dec 31,		Sep 30,			June 30,			Mar 31,
		2014		2014			2014		2014			2013		2013			2013			2013
	Revenue	$	30,301	$	215		$	25,154	$	176		$	40,110	$	161		$	241		$	30,583
	Operating expenses		13,265		9,765			8,435		5,867			4,986		2,958			2,935			3,198
	Net income (loss)		9,731		(9,557	)		16,429		(6,380	)		30,944		(3,439	)		(3,353	)		26,769
	Net income (loss) per share attributable to common stockholders:
	Basic		0.56		(0.57	)		1.05		(0.67	)		2.58		(0.36	)		(0.35	)		1.86
	Diluted		0.5		(0.57	)		0.88		(0.67	)		2.35		(0.36	)		(0.35	)		1.7

The_Company_Details

The Company (Details) (USD $)	1 Months Ended	12 Months Ended	1 Months Ended
	Apr. 30, 2014	Dec. 31, 2014	31-May-14	Dec. 31, 2013
		subsidiary
The Company
Number of subsidiaries		4
Initial Public Offering [Line Items]
Common stock, shares issued and sold in the IPO	3,000,000	17,551,375		17,551,375
Public offering price (in dollars per share)	$16
Proceeds from public offering of common stock, net of underwriting discounts	$41,400,000
Underwriting discount and commissions	3,400,000
Shares issuance expenses	3,200,000
Convertible preferred stock converted into common stock (in shares)	4,003,225
Common Stock | Stock options | Underwriters
Initial Public Offering [Line Items]
Common stock, shares issued and sold in the IPO			81,371
Proceeds from public offering of common stock, net of underwriting discounts			1,200,000
Underwriting discount and commissions			$91,000

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details)	0 Months Ended
	Mar. 24, 2014
Common Stock
Stock split ratio
Stock split ratio	2
Convertible Preferred Stock
Stock split ratio
Stock split ratio	2

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details 2)	12 Months Ended
	Dec. 31, 2014
	segment
Segments
Number of criteria to recognize revenue	1
Minimum
Property and Equipment
Estimated useful lives of the assets	3 years
Maximum
Property and Equipment
Estimated useful lives of the assets	10 years
Leasehold improvements
Property and Equipment
Estimated useful lives of the assets	5 years

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details 3)	12 Months Ended
	Dec. 31, 2014
	Program
Uncertainties [Abstract]
Number of research or development programs which the Company may have to delay or reduce the scope	1

Balance_Sheet_Components_Detai

Balance Sheet Components (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Prepaid expenses and other current assets
Prepaid expenses	$414	$237
Prepaid clinical trial	227	10
Other current assets	4	20
Prepaid expenses and other current assets	645	267
Property and equipment, net
Property and equipment, gross	1,468	536
Less: Accumulated depreciation and amortization	-240	-337
Property and equipment, net	1,228	199
Depreciation expense	155	66	41
Accrued liabilities
Accrued vacation	465	317
Accrued salaries and related benefit expenses	1,422	1,349
Clinical trial accruals	1,351	104
Accrued professional fees	380
Accrued consulting expenses	36	180
Income and other taxes	4,773	101
Other	168	68
Accrued liabilities	8,595	2,119
Computer equipment and software
Property and equipment, net
Property and equipment, gross	385	330
Office equipment
Property and equipment, net
Property and equipment, gross	60	60
Furniture and fixtures
Property and equipment, net
Property and equipment, gross	260	121
Leasehold improvements
Property and equipment, net
Property and equipment, gross	$763	$25

Fair_Value_Measurements_Detail

Fair Value Measurements (Detail) (Recurring basis, USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Total
Fair value measurement on a recurring basis
Assets	$156,579
Total | Money market fund
Fair value measurement on a recurring basis
Assets	59,303	83,700
Total | Corporate debt
Fair value measurement on a recurring basis
Assets	85,311
Total | U.S. Treasury notes
Fair value measurement on a recurring basis
Assets	11,965
Level 1
Fair value measurement on a recurring basis
Assets	59,303
Level 1 | Money market fund
Fair value measurement on a recurring basis
Assets	59,303	83,700
Level 2
Fair value measurement on a recurring basis
Assets	97,276
Level 2 | Corporate debt
Fair value measurement on a recurring basis
Assets	85,311
Level 2 | U.S. Treasury notes
Fair value measurement on a recurring basis
Assets	$11,965

Fair_Value_Measurements_Detail1

Fair Value Measurements (Details 2) (Recurring basis, USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Total
Fair value measurement on a recurring basis
Assets	$156,579
Total | Warrants to purchase convertible preferred stock
Fair value measurement on a recurring basis
Liabilities		6,232
Total | Money market fund
Fair value measurement on a recurring basis
Assets	59,303	83,700
Level 1
Fair value measurement on a recurring basis
Assets	59,303
Level 1 | Money market fund
Fair value measurement on a recurring basis
Assets	59,303	83,700
Level 3 | Warrants to purchase convertible preferred stock
Fair value measurement on a recurring basis
Liabilities		$6,232

Fair_Value_Measurements_Detail2

Fair Value Measurements (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Roll forward of the financial instruments classified within Level 3 of the fair value hierarchy
Balance at the beginning of the period	$6,232	$1,706
Change in fair value recorded in interest and other income/expense	983	4,526
Exercise of warrants	-7,215
Balance at the end of the period		$6,232

Investments1

Investments (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Available-for-sale Securities [Abstract]
Available-for-sale debt Securities, amortized cost basis	$97,456,000
Available-for-sale debt securities, gross unrealized loss	-180,000
Available-for-sale securities, debt securities	97,276,000
Short term Investments	60,912,000
Long term Investments	36,364,000
Short-term investments
Available-for-sale Securities [Abstract]
Available-for-sale debt Securities, amortized cost basis	61,014,000
Available-for-sale debt securities, gross unrealized loss	-104,000
Available-for-sale securities, debt securities	60,910,000
Short term Investments		0
Accrued interest	309,000
Long-term investments
Available-for-sale Securities [Abstract]
Available-for-sale debt Securities, amortized cost basis	36,442,000
Available-for-sale debt securities, gross unrealized loss	-76,000
Available-for-sale securities, debt securities	36,366,000
Long term Investments		0
Accrued interest	209,000
Minimum | Long-term investments
Available-for-sale Securities [Abstract]
Maturity range of long term investment	12 months
Maximum | Long-term investments
Available-for-sale Securities [Abstract]
Maturity range of long term investment	23 months
Corporate debt
Available-for-sale Securities [Abstract]
Available-for-sale debt Securities, amortized cost basis	85,474,000
Available-for-sale debt securities, gross unrealized loss	-163,000
Available-for-sale securities, debt securities	85,311,000
U.S treasury notes
Available-for-sale Securities [Abstract]
Available-for-sale debt Securities, amortized cost basis	11,982,000
Available-for-sale debt securities, gross unrealized loss	-17,000
Available-for-sale securities, debt securities	$11,965,000

Collaboration_and_License_Agre1

Collaboration and License Agreements (Details) (License agreement, USD $)	0 Months Ended	1 Months Ended	2 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Nov. 30, 2012	31-May-14	Dec. 31, 2013	Dec. 31, 2014	Nov. 30, 2012
				component
				item
License agreement
Collaboration and License Agreements
Upfront payment received	$65
Maximum total additional cash payments receivable upon achievement of certain development and regulatory milestones	95				95
Number of non-contingent performance deliverables				2
Number of components of intellectual property rights accounted for as a single unit of accounting				2
Amount of consideration for non-contingent performance deliverables				0
Number of units of accounting				2
Amount of upfront license fee allocated to transfer of license and technical know-how	65
Total milestone payments received			40
Additional milestone payment received		$25
Period describing the initial launch of dose				5 years
Period describing the commercial launch of dose				15 years

Warrants_to_Purchase_Common_or2

Warrants to Purchase Common or Preferred Stock (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Warrants to Purchase Common or Preferred Stock
Gross proceeds from issuance of preferred stock			$3,948,000
Preferred stock issued (in shares)	0	4,719,174
Issue price (in dollars per share)	$17.37
Fair value of warrants	27,900,000
Number of warrants outstanding	220,004
Expenses recorded	1,000,000
Exercise price (in dollars per share)	$3.80
Change in fair value of warrants	$983,000	$4,526,000	$1,330,000
IPO [Member]
Warrants to Purchase Common or Preferred Stock
Issue price (in dollars per share)	$16
Warrants to purchase common stock
Warrants to Purchase Common or Preferred Stock
Issue of warrants to purchase shares	127,780
Number of warrants outstanding	7,116	213,278
Series AA convertible preferred stock warrants issued in 2011
Warrants to Purchase Common or Preferred Stock
Number of warrants outstanding		622,660
Warrants to purchase convertible preferred stock
Warrants to Purchase Common or Preferred Stock
Issue of warrants to purchase shares	758,994
Number of warrants outstanding	0	622,660
Convertible Preferred Stock
Warrants to Purchase Common or Preferred Stock
Preferred stock issued (in shares)		4,719,174	4,719,174
Common Stock
Warrants to Purchase Common or Preferred Stock
Stock Issued During Period, Shares, New Issues	199,837

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	31-May-14	Apr. 30, 2014
				sqft	sqft
Commitments and Contingencies
Lease agreement square footage				18,500	12,500
Rent expense	$277,000	$214,000	$122,000
Future minimum lease payments under non-cancelable facility operating leases
2015	428,000
2016	624,000
2017	624,000
2018	634,000
2019	654,000
Thereafter	223,000
Total	3,187,000
Amount of claim	$0

Commitments_and_Contingencies_2

Commitments and Contingencies (Detail 2) (USD $)	1 Months Ended	12 Months Ended	1 Months Ended
	31-May-14	Dec. 31, 2014	Nov. 30, 2014
			plaintiff
Term of operating lease	65 months
Amount of claim		$0
Pending Litigation
Information about litigation matters
Term of ANDA stays which begin to expire in June, 2016		30 months
Settled Litigation
Information about litigation matters
Numbers of parties settled with			1
Period of time non-exclusive manufacture and sale of generic versions is licensed prior to last expirations of relevant patents			2 months

Convertible_Preferred_Stock_De

Convertible Preferred Stock (Details) (USD $)	Dec. 31, 2014	Apr. 15, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Convertible Preferred Stock
Authorized Shares	5,000,000		6,700,000
Carrying Value			$19,149
Convertible Preferred Stock
Convertible Preferred Stock
Authorized Shares	5,000,000	5,000,000	6,700,000
Outstanding Shares	0		4,719,174
Carrying Value			19,149
Series AA preferred stock
Convertible Preferred Stock
Authorized Shares			5,000,000
Outstanding Shares			3,431,620
Per Share Liquidation Preference (in dollars per share)			$3.81
Carrying Value			6,521
Series AA-1
Convertible Preferred Stock
Authorized Shares			1,700,000
Outstanding Shares			1,287,554
Per Share Liquidation Preference (in dollars per share)			$50
Carrying Value			$12,628

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	item
Shareholders' Equity
Authorized shares of common stock	100,000,000	100,000,000
Dividends declared	$0
Common stock, votes per share	1
Shares reserved for Future Issuance
Total	6,822,903	9,607,928
Warrants to purchase common stock
Shares reserved for Future Issuance
Total	7,116	213,290
Warrants to purchase convertible preferred stock
Shares reserved for Future Issuance
Total		622,660
Employee stock purchase plan
Shares reserved for Future Issuance
Total	249,887
Convertible Preferred Stock
Shares reserved for Future Issuance
Total		3,432,908
Stock options
Shares reserved for Future Issuance
Common stock options outstanding	4,981,522	3,567,858	3,155,182
Common stock options available for grant	1,584,378	1,771,212
Stock options | Common Stock
Shareholders' Equity
Unvested shares of common stock from early exercised options	13,000	0

Stock_Based_Compensations_Deta

Stock Based Compensations (Details) (Stock options, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock-based compensation expense
Total stock-based compensation expense (in dollars)	$7,203,000	$640,000	$797,000
Research and development
Stock-based compensation expense
Total stock-based compensation expense (in dollars)	2,488,000	304,000	269,000
General and administrative
Stock-based compensation expense
Total stock-based compensation expense (in dollars)	$4,715,000	$336,000	$528,000

Stock_Based_Compensations_Deta1

Stock Based Compensations (Details 2) (USD $)	12 Months Ended			10 Months Ended	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Mar. 31, 2014
Stock Option Plans
Number of shares available for future issuance under the plan	6,822,903	9,607,928		6,822,903
Stock options
Stock Option Plans
Further grants to be made (in shares)	1,584,378	1,771,212		1,584,378
Shares Available for Grant
Balances, beginning of the period (in shares)	1,771,212
Options granted (in shares)	2,510,133	616,000
Balances, end of the period (in shares)	1,584,378	1,771,212		1,584,378
Outstanding Options, Number of Shares
Balances, beginning of the period (in shares)	3,567,858	3,155,182
Options granted (in shares)	-2,510,133	-616,000
Options exercised (in shares)	-738,539	-15,666
Options forfeited (in shares)	-349,932	-187,658
Options expired (in shares)	7,998
Balances, end of the period (in shares)	4,981,522	3,567,858	3,155,182	4,981,522
Outstanding Options, Weighted Average Exercise Price
Balances, beginning of the period (in dollars per share)	$1.45	$1.10
Options granted (in dollars per share)	$11.31	$3.08
Options exercised (in dollars per share)	$1.40	$1.37
Options forfeited (in dollars per share)	$6.01	$1
Options expired (in dollars per share)	$0.34
Balances, end of the period (in dollars per share)	$6.10	$1.45	$1.10	6.1
Aggregate Intrinsic Value
Balances, end of the period (in dollars)	$56,335,000			56,335,000
Aggregate intrinsic value of exercises (in dollars)	10,000,000	29,000	8,100
Stock options | Maximum
Stock Option Plans
Term of awards				10 years
Employee Stock Purchase Plan
Stock Option Plans
Exercise price as a percentage of estimated fair value of the shares on the date of grant					85.00%
Number of shares authorised under the plan					262,762
Total number of shares issued under the plan	12,875
Number of shares available for future issuance under the plan	249,887			249,887
Employee Stock Purchase Plan | Maximum
Stock Option Plans
Increase in common stock reserved for issuance as a percentage of total number of shares of the Company's capital stock outstanding on the last day of the preceding fiscal year					1.00%
Percentage of annual compensation of the employee to be deducted for purchase of shares					15.00%
Maximum value of shares that an employee is permitted to purchase					25,000
Threshold number of shares to determine increase in common stock reserved for future issuance	520,000			520,000
2002 Plan
Stock Option Plans
Further grants to be made (in shares)	0			0
Shares Available for Grant
Balances, end of the period (in shares)	0			0
2007 Stock Plan
Stock Option Plans
Further grants to be made (in shares)	0			0
Shares Available for Grant
Balances, end of the period (in shares)	0			0
2007 Stock Plan | Stock options | Maximum
Stock Option Plans
Term of awards				10 years
2014 Equity Incentive Plan
Stock Option Plans
Increase in common stock reserved for issuance as a percentage of total number of shares of the Company's capital stock outstanding on the last day of the preceding fiscal year	4.00%			4.00%
2014 Equity Incentive Plan | Minimum
Stock Option Plans
Exercise price as a percentage of estimated fair value of the shares on the date of grant	100.00%
Exercise price as a percentage of estimated grant date fair value of shares for a 10% shareholder				110.00%
2014 Equity Incentive Plan | Stock options
Stock Option Plans
Further grants to be made (in shares)	1,993,394			1,993,394
Vesting period				4 years
Vesting percentage on first anniversary of the issuance date				25.00%
Monthly vesting percentage after first anniversary of the issuance date				1.67%
Shares Available for Grant
Balances, end of the period (in shares)	1,993,394			1,993,394
2014 Equity Incentive Plan | Stock options | Maximum
Stock Option Plans
Term of awards	10 years
2014 Equity Incentive Plan | ISO
Stock Option Plans
Threshold ownership percentage of shareholder for determining exercise price of awards granted				10.00%

Stock_Based_Compensations_Deta2

Stock Based Compensations (Details 3) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Employee Stock Options
Stock Option Plans
Options granted (in shares)	2,310,583	522,000	440,000
Weighted-average grant date fair value (in dollars per share)	$10.77	$8.73	$1.09
Total unrecognized compensation cost (in dollars)	$20,600,000
Period for recognition of unrecognized compensation cost	3 years 9 months 18 days
Total fair value of awards vested (in dollars)	882,000	241,000
Stock-based compensation expense (in dollars)	4,000,000	275,000	221,000
Employee Stock Options | Minimum
Assumptions to estimate the fair value of stock options
Expected volatility (as a percent)	90.00%	89.00%	91.00%
Risk-free interest rate (as a percent)	1.84%	1.45%	1.15%
Expected term	6 years 9 months
Employee Stock Options | Maximum
Assumptions to estimate the fair value of stock options
Expected volatility (as a percent)	96.00%	100.00%	92.00%
Risk-free interest rate (as a percent)	2.20%	2.48%	1.41%
Expected term	7 years	7 years 3 months	7 years
Employee Stock Purchase Plan
Stock Option Plans
Stock-based compensation expense (in dollars)	69,200	0	0
Assumptions to estimate the fair value of stock options
Expected term	6 months
Employee Stock Purchase Plan | Minimum
Assumptions to estimate the fair value of stock options
Expected volatility (as a percent)	67.00%
Risk-free interest rate (as a percent)	0.02%
Employee Stock Purchase Plan | Maximum
Assumptions to estimate the fair value of stock options
Expected volatility (as a percent)	75.00%
Risk-free interest rate (as a percent)	0.05%
Non-employees stock options
Stock Option Plans
Options granted (in shares)	199,550	94,000	105,000
Stock-based compensation expense (in dollars)	$3,200,000	$365,000	$575,000
Assumptions to estimate the fair value of stock options
Expected volatility (as a percent)	72.00%	88.00%	89.00%
Expected volatility (as a percent)	98.00%	98.00%	92.00%
Risk-free interest rate (as a percent)	0.81%	1.02%	0.87%
Risk-free interest rate (as a percent)	2.75%	2.72%	1.93%
Non-employees stock options | Minimum
Assumptions to estimate the fair value of stock options
Expected term			6 years 3 months
Expected term	3 years 3 months	3 years 3 months
Non-employees stock options | Maximum
Assumptions to estimate the fair value of stock options
Expected term			10 years
Expected term	10 years	10 years

Stock_Based_Compensation_Detai

Stock Based Compensation (Details 4) (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014
Options Outstanding and Exercisable
Weighted average remaining contractual life of options exercisable (in years)	7 years 3 months 22 days
Aggregated intrinsic value	$55.60
Share Price	$17.37
Stock options
Options Outstanding and Exercisable
Number Outstanding (in shares)	4,981,522
Weighted Average Remaining Contractual Life	7 years 7 months 6 days
Weighted Average Exercise Price (in dollars per share)	$6.10
Number Exercisable (in shares)	4,387,822
Weighted Average Exercise Price (in dollars per share)	$4.69
$0.00-0.99 | Stock options
Options Outstanding and Exercisable
Exercise price, lower range limit (in dollars per share)	$0
Exercise price, upper range limit (in dollars per share)	$0.99
Options Outstanding and Exercisable
Number Outstanding (in shares)	1,451,400
Weighted Average Remaining Contractual Life	6 years 8 months 27 days
Weighted Average Exercise Price (in dollars per share)	$0.66
Number Exercisable (in shares)	1,451,400
Weighted Average Exercise Price (in dollars per share)	$0.66
$1.00-8.99 | Stock options
Options Outstanding and Exercisable
Exercise price, lower range limit (in dollars per share)	$1
Exercise price, upper range limit (in dollars per share)	$8.99
Options Outstanding and Exercisable
Number Outstanding (in shares)	1,154,989
Weighted Average Remaining Contractual Life	5 years 2 months 9 days
Weighted Average Exercise Price (in dollars per share)	$2.39
Number Exercisable (in shares)	1,154,989
Weighted Average Exercise Price (in dollars per share)	$2.39
$9.00-14.99 | Stock options
Options Outstanding and Exercisable
Exercise price, lower range limit (in dollars per share)	$9
Exercise price, upper range limit (in dollars per share)	$14.99
Options Outstanding and Exercisable
Number Outstanding (in shares)	1,934,500
Weighted Average Remaining Contractual Life	9 years 2 months 16 days
Weighted Average Exercise Price (in dollars per share)	$9.83
Number Exercisable (in shares)	1,766,000
Weighted Average Exercise Price (in dollars per share)	$9.38
$15.00-18.74 | Stock options
Options Outstanding and Exercisable
Exercise price, lower range limit (in dollars per share)	$15
Exercise price, upper range limit (in dollars per share)	$18.74
Options Outstanding and Exercisable
Number Outstanding (in shares)	440,633
Weighted Average Remaining Contractual Life	9 years 8 months 16 days
Weighted Average Exercise Price (in dollars per share)	$17.38
Number Exercisable (in shares)	15,433
Weighted Average Exercise Price (in dollars per share)	$18.54

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income before provision for income tax
United States	$17,599,000	$52,095,000	$17,989,000
International	-2,000	17,000	47,000
Income before income taxes	17,597,000	52,112,000	18,036,000
Current:
Federal	7,367,000	1,190,000	297,000
State	7,000	1,000	6,000
Foreign		-1,000	-2,000
Current income tax provision	7,374,000	1,190,000	301,000
Increase (Decrease) in Accrued Taxes Payable	-1,600,000
Deferred:
Foreign		1,000	-1,000
Deferred income tax provision		1,000	-1,000
Provision for income taxes	7,374,000	1,191,000	300,000
Federal income tax rate (as a percent)	35.00%
Difference of provision for income taxes from the amount computed by applying the federal income tax rate of 35% to pretax income from operations
Statutory federal income tax rate	6,159,000	18,239,000	6,313,000
AMT taxes			263,000
State income taxes, net of federal tax benefits	1,000	1,000	4,000
Warrants	344,000	1,584,000	466,000
Foreign rate differential	1,000	-6,000	-20,000
Tax credits	-168,000	-119,000	-263,000
Change in statutory rates		-61,000	-804,000
Stock compensation	302,000
Other	-70,000	-59,000	176,000
Change in valuation allowance	805,000	-18,388,000	-5,835,000
Provision for income taxes	7,374,000	1,191,000	300,000
Significant components of the Company's deferred tax assets
Net operating loss carryforwards	4,736,000	5,459,000
Research and development tax credits	1,107,000	1,187,000
Accruals and reserves	176,000	103,000
Stock compensation	2,584,000	660,000
Depreciation and amortization	1,646,000	1,804,000
Total deferred tax assets	10,249,000	9,213,000
Less: Valuation allowance	-10,249,000	-9,213,000
Decrease in net valuation allowance	($1,000,000)	$18,500,000	$5,800,000

Income_Taxes_Details_2

Income Taxes (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Federal
Operating loss carryforwards
Net operating loss carryforwards	$1.50	$3.50
State
Operating loss carryforwards
Net operating loss carryforwards	$73.30	$73.40

Income_Taxes_Details_3

Income Taxes (Details 3) (USD $)	Dec. 31, 2014
In Millions, unless otherwise specified
Tax credit carryforwards
Annual limitation on use of net operating losses and tax credit carryforwards	$2
Federal | Research and development tax credit carryforward
Tax credit carryforwards
Tax credit carryforwards	0.6
State | Research and development tax credit carryforward
Tax credit carryforwards
Tax credit carryforwards	$2.50

Income_Taxes_Details_4

Income Taxes (Details 4) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at the beginning of the year	$2,270,000	$1,880,000	$1,676,000
Additions based on prior period tax positions	348,000	184,000
Reductions based on prior period tax positions	-10,000
Reductions based on current period tax positions		206,000	204,000
Balance at the end of the year	2,608,000	2,270,000	1,880,000
Interest related to unrecognized tax benefits	11,000
Penalties related to unrecognized tax recognized in the provision for income taxes	0
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$1,300,000

Net_Income_Per_Share_Details

Net Income Per Share (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Historical net income per share
Net income	$9,731	($9,557)	$16,429	($6,380)	$30,944	($3,439)	($3,353)	$26,769	$10,223	$50,921	$17,736
Noncumulative dividend on preferred stock									-432	-1,436	-1,268
Undistributed earnings allocated to preferred stock holders									-823	-16,417	-5,027
Basic net income (loss) attributable to common stockholders									8,968	33,068	11,441
Adjustment to net income for dilutive securities									101	2,285	155
Diluted net income (loss) attributable to common stockholders									$9,069	$35,353	$11,596
Basic common shares outstanding:
Basic common shares outstanding: weighted average common shares outstanding									14,849,000	9,508,000	9,490,000
Less: weighted average unvested common shares subject to repurchase									-12,000	-2,000	-2,000
Weighted average number of common shares used in calculating net income (loss) per share-basic									14,837,000	9,506,000	9,488,000
Dilutive securities:
Common stock options (in shares)									2,148,000	2,204,000	436,000
Warrants to purchase common stock (in shares)									122,000	96,000
Weighted average number of common shares used in calculating net income per share-diluted									17,107,000	11,806,000	9,924,000
Net income (loss) per share to attributable to common stockholders
Basic (in dollars per share)	$0.56	($0.57)	$1.05	($0.67)	$2.58	($0.36)	($0.35)	$1.86	$0.60	$3.48	$1.21
Diluted (in dollars per share)	$0.50	($0.57)	$0.88	($0.67)	$2.35	($0.36)	($0.35)	$1.70	$0.53	$3	$1.17
Anti-dilutive securities
Total anti-dilutive securities (in shares)									441	5,342	10,336,000
Convertible Preferred Stock
Anti-dilutive securities
Total anti-dilutive securities (in shares)										4,719	9,500,000
Employee Stock Options
Anti-dilutive securities
Total anti-dilutive securities (in shares)									441
Warrants | Warrants to purchase convertible preferred stock
Anti-dilutive securities
Total anti-dilutive securities (in shares)										623	623,000
Warrants | Warrants to purchase common stock
Anti-dilutive securities
Total anti-dilutive securities (in shares)											213,000

Quarterly_Financial_Informatio2

Quarterly Financial Information (Unaudited) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information (Unaudited)
Revenue	$30,301	$215	$25,154	$176	$40,110	$161	$241	$30,583
Operating expenses	13,265	9,765	8,435	5,867	4,986	2,958	2,935	3,198
Net income (loss)	$9,731	($9,557)	$16,429	($6,380)	$30,944	($3,439)	($3,353)	$26,769	$10,223	$50,921	$17,736
Net income per share attributable to common stockholders
Basic (in dollars per share)	$0.56	($0.57)	$1.05	($0.67)	$2.58	($0.36)	($0.35)	$1.86	$0.60	$3.48	$1.21
Diluted (in dollars per share)	$0.50	($0.57)	$0.88	($0.67)	$2.35	($0.36)	($0.35)	$1.70	$0.53	$3	$1.17

Uncategorized_Items

Uncategorized Items
[us-gaap_SharesIssued]	9,424,862	3,667,832