ChemoCentryx (CCXI) 10-Q 12 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 04, 2013
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Entity Registrant Name	'ChemoCentryx, Inc.	'
Entity Central Index Key	'0001340652	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	42,865,408

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$22,315	$8,460
Short-term investments	102,224	94,234
Accounts receivable from related party	523	1,156
Prepaid expenses and other current assets	560	630
Total current assets	125,622	104,480
Property and equipment, net	1,440	1,421
Long-term investments	32,731	16,262
Other assets	160	160
Total assets	159,953	122,323
Current liabilities:	'	'
Accounts payable	692	750
Accrued liabilities	5,004	6,267
Deferred revenue from related party	376	3,761
Current portion of equipment financing obligations	413	522
Total current liabilities	6,485	11,300
Noncurrent equipment financing obligations	62	379
Other non-current liabilities	222	298
Total liabilities	6,769	11,977
Preferred stock:	'	'
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding;	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized at September 30, 2013 and December 31, 2012, respectively; 42,865,408 shares and 36,354,547 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively, net of shares subject to repurchase	43	36
Additional paid-in capital	316,467	244,513
Note receivable	-16	-16
Accumulated other comprehensive income	9	2
Accumulated deficit	-163,319	-134,189
Total stockholders' equity	153,184	110,346
Total liabilities and stockholders' equity	$159,953	$122,323

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	42,865,408	36,354,547
Common stock, shares outstanding	42,865,408	36,354,547

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues:	'	'	'	'
Collaborative research and development revenue from related party	$1,522	$1,128	$5,335	$3,274
Operating expenses:	'	'	'	'
Research and development	8,193	8,746	26,124	25,349
General and administrative	2,882	2,619	8,655	7,654
Total operating expenses	11,075	11,365	34,779	33,003
Loss from operations	-9,553	-10,237	-29,444	-29,729
Other income (expense):	'	'	'	'
Interest income	134	141	360	411
Interest expense	-14	-20	-46	-776
Total interest income (expense), net	120	121	314	-365
Net loss	($9,433)	($10,116)	($29,130)	($30,094)
Basic and diluted net loss per common share	($0.22)	($0.28)	($0.72)	($0.86)
Shares used to compute basic and diluted net loss per common share	42,839	36,180	40,262	35,117

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement Of Income And Comprehensive Income [Abstract]	'	'	'	'
Net loss	($9,433)	($10,116)	($29,130)	($30,094)
Unrealized (loss) gain on available-for-sale securities	173	81	7	82
Comprehensive loss	($9,260)	($10,035)	($29,123)	($30,012)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Operating activities	'	'
Net loss	($29,130)	($30,094)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation of property and equipment	426	456
Stock-based compensation	4,699	3,415
Noncash interest expense, net	1,243	1,960
Changes in assets and liabilities:	'	'
Accounts receivable due from related party	633	216
Prepaids and other current assets	70	572
Other assets	'	1,935
Accounts payable	-58	38
Other liabilities	-1,363	1,337
Deferred revenue from related party	-3,385	-3,274
Net cash used in operating activities	-26,865	-23,439
Investing activities	'	'
Purchases of property and equipment, net	-445	-113
Purchases of investments	-119,253	-141,977
Maturities of investments	93,582	81,563
Net cash used in investing activities	-26,116	-60,527
Financing activities	'	'
Proceeds from issuance of common stock	64,365	57,017
Proceeds from exercise of stock options and employee stock purchase plan	2,585	317
Proceeds from exercise of warrants	312	0
Payments on equipment financing obligations	-426	-408
Net cash provided by financing activities	66,836	56,926
Net increase (decrease) in cash and cash equivalents	13,855	-27,040
Cash and cash equivalents at beginning of period	8,460	40,155
Cash and cash equivalents at end of period	22,315	13,115
Supplemental disclosures of cash flow information	'	'
Cash paid for interest	22	39
Non-cash financing activity:	'	'
Issuance of common stock for settlement of convertible debt, including accrued interest	$0	$10,215

Description_of_Business

Description of Business	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Description of Business	'
	1	Description of Business
	ChemoCentryx, Inc. (the Company) commenced operations in 1997. The Company is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing orally administered chemokine-based therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. The Company’s principal operations are in the United States and it operates in one segment.
	Unaudited Interim Financial Information
	The financial information filed is unaudited. The Condensed Consolidated Financial Statements included in this report reflect all adjustments (consisting only of normal recurring adjustments) that the Company considers necessary for the fair statement of the results of operations for the interim periods covered and of the financial condition of the Company at the date of the interim balance sheet. The December 31, 2012 Condensed Consolidated Balance Sheet was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America (GAAP). The results for interim periods are not necessarily indicative of the results for the entire year or any other interim period. The Condensed Consolidated Financial Statements should be read in conjunction with the Company’s financial statements and the notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2012 filed with the Securities and Exchange Commission, or SEC, on March 14, 2013.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2	Summary of Significant Accounting Policies
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates.
	Reclassifications
	Certain items in the Condensed Consolidated Statements of Cash Flows have been reclassified to conform to the current fiscal year’s format.
	Net Loss Per Share
	Basic and diluted net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Participating securities are included in the computation of basic income per share using the two-class method. The calculation of diluted net loss per share excludes potential common stock because its effect is antidilutive. Potential common stock consists of incremental common shares issuable upon the exercise of stock options and warrants.
	For the three and nine months ended September 30, 2013 and 2012, the Company’s potential common stock includes the following shares, all of which have been excluded from the computation of diluted net loss per share because their impact is antidilutive:
			September 30,
			2013		2012
	Options to purchase common stock			5,371,204		5,396,959
	Warrants to purchase common stock			151,672		309,500
				5,522,876		5,706,459

Cash_Equivalents_and_Investmen

Cash Equivalents and Investments	9 Months Ended
	Sep. 30, 2013
Cash And Cash Equivalents [Abstract]	'
Cash Equivalents and Investments	'
	3	Cash Equivalents and Investments
	The amortized cost and fair value of cash equivalents and investments at September 30, 2013 and December 31, 2012 were as follows (in thousands):
			September 30, 2013
			Amortized		Gross Unrealized					Fair
			Cost		Gains		Losses			Value
	Money market fund		$	21,327	$	0	$	0		$	21,327
	Certificate of deposits			6,018		0		0			6,018
	U.S. treasury securities			2,003		3		0			2,006
	Government-sponsored agencies			9,818		10		(1	)		9,827
	Commercial paper			9,692		0		0			9,692
	Corporate debt securities			107,414		39		(42	)		107,411
	Total available-for-sale securities		$	156,272	$	52	$	(43	)	$	156,281
	Classified as:
	Cash equivalents									$	21,326
	Short-term investments										102,224
	Long-term investments										32,731
	Total available-for-sale securities									$	156,281
			31-Dec-12
			Amortized		Gross Unrealized					Fair
			Cost		Gains		Losses			Value
	Money market fund		$	10,403	$	1	$	0		$	10,404
	Government-sponsored agencies			6,009		1		0			6,010
	Commercial paper			29,171		3		0			29,174
	Corporate debt securities			71,980		23		(26	)		71,977
	Total available-for-sale securities		$	117,563	$	28	$	(26	)	$	117,565
	Classified as:
	Cash equivalents									$	7,069
	Short-term investments										94,234
	Long-term investments										16,262
	Total available-for-sale securities									$	117,565
	All available-for-sale securities held as of September 30, 2013, had contractual maturities of less than two years. There have been no significant realized gains or losses on available-for-sale securities for the periods presented. No available-for-sale securities held as of September 30, 2013, have been in a continuous unrealized loss position for more than 12 months. As of September 30, 2013, unrealized losses on available-for-sale investments are not attributed to credit risk and are considered to be temporary. The Company believes that it is more-likely-than-not that investments in an unrealized loss position will be held until maturity or the recovery of the cost basis of the investment. To date, the Company has not recorded any impairment charges on marketable securities related to other-than-temporary declines in market value.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	4	Fair Value Measurements
	The Company determines the fair value of financial assets and liabilities using three levels of inputs as follows:
	Level 1—Inputs which include quoted prices in active markets for identical assets and liabilities.
	Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
	Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements are as follows as of September 30, 2013 and December 31, 2012 (in thousands):
			September 30, 2013
	Description		Level 1		Level 2		Level 3		Total
	Money market fund		$	21,327	$	0	$	0	$	21,327
	Certificate of deposits			6,018		0		0		6,018
	U.S. treasury securities			0		2,006		0		2,006
	Government-sponsored agencies			0		9,827		0		9,827
	Commercial paper			0		9,692		0		9,692
	Corporate debt securities			0		107,411		0		107,411
	Total assets		$	27,345	$	128,936	$	0	$	156,281
			31-Dec-12
	Description		Level 1		Level 2		Level 3		Total
	Money market fund		$	10,404	$	0	$	0	$	10,404
	Government-sponsored agencies			0		6,010		0		6,010
	Commercial paper			0		29,174		0		29,174
	Corporate debt securities			0		71,977		0		71,977
	Total assets		$	10,404	$	107,161	$	0	$	117,565
	When the Company uses observable market prices for identical securities that are traded in less active markets, the Company classifies its marketable debt instruments as Level 2. When observable market prices for identical securities are not available, the Company prices its marketable debt instruments using non-binding market consensus prices that are corroborated with observable market data; quoted market prices for similar instruments; or pricing models, such as a discounted cash flow model, with all significant inputs derived from or corroborated with observable market data. Non-binding market consensus prices are based on the proprietary valuation models of pricing providers or brokers. These valuation models incorporate a number of inputs, including non-binding and binding broker quotes; observable market prices for identical or similar securities; and the internal assumptions of pricing providers or brokers that use observable market inputs and, to a lesser degree, unobservable market inputs. The Company corroborates non-binding market consensus prices with observable market data using statistical models when observable market data exists. The discounted cash flow model uses observable market inputs, such as LIBOR-based yield curves, currency spot and forward rates, and credit ratings.

Accrued_Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Accrued Liabilities	'
	5	Accrued Liabilities
	Accrued liabilities consist of the following (in thousands):
			September 30,		December 31,
			2013		2012
	Research and development related		$	2,615	$	3,678
	Compensation related			1,613		1,889
	Other			776		700
			$	5,004	$	6,267

RelatedParty_Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Related-Party Transactions	'
	6	Related-Party Transactions
	Glaxo Group Limited
	In August 2006, the Company entered into a product development and commercialization agreement with Glaxo Group Limited (GSK). The Company recognized the following revenues from GSK during the three and nine months ended September 30, 2013 and 2012 (in thousands):
			Three Months Ended				Nine Months Ended
			September 30,				September 30,
			2013		2012		2013		2012
	GSK:
	Contract revenue		$	393	$	0	$	1,950	$	0
	Recognition of up-front payments			1,129		1,128		3,385		3,274
	Total revenues		$	1,522	$	1,128	$	5,335	$	3,274
	At September 30, 2013 and December 31, 2012, the Company had an accounts receivable balance due from GSK of $0.5 million and $1.2 million, respectively.
	Techne
	In September 2011, the Company entered into a convertible note loan agreement with Techne Corporation, or Techne, one of its principal stockholders, pursuant to which the Company issued a convertible note to Techne with a principal amount of $10.0 million and bearing interest at a rate of 5.0% per annum and a maturity date in September 2021. In February 2012, the Company completed its IPO, and as such, all outstanding principal and accrued and unpaid interest automatically converted into 1,021,490 shares of common stock at a conversion price equal to the IPO price of $10.00 per share. Upon the conversion of the note in connection with the IPO, Techne received a warrant with a ten-year term to purchase 150,000 shares of the Company’s common stock at an exercise price per share equal to $20.00 per share, or 200% of the IPO price of its common stock. In addition, pursuant to the terms of the convertible note loan agreement, concurrent with the IPO, Techne purchased $5.0 million of the Company’s common stock in a private placement at $10.00 per share.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Shareholders' Equity	'
	7	Shareholders’ Equity
	Initial Public Offering
	In February 2012, the Company completed its IPO pursuant to which the Company issued 5,175,000 shares of common stock, including the exercise of the underwriters’ over-allotment option and received (a) net proceeds of $45.0 million, after underwriting discounts, commissions and offering expenses; and (b) gross proceeds of $12.0 million in concurrent private placements of 1,200,000 shares of common stock at the IPO price of $10.00 per share. In addition, in connection with the completion of the Company’s IPO, all convertible preferred stock converted into 24,332,186 shares of common stock. As discussed in Note 6, all outstanding principal and accrued and unpaid interest under the convertible note loan agreement with Techne also converted into common stock upon the completion of the Company’s IPO.
	Follow On Public Offering
	In April 2013, the Company completed an underwritten public offering of 5,750,000 shares of its common stock at $12.00 per share. The Company received net proceeds of $64.4 million, after deducting underwriting discounts, commissions and offering expenses.
	Warrants to Purchase Common Stock
	In February 2012, in connection with the IPO, the Company’s outstanding warrants to purchase Series B convertible preferred stock converted into warrants to purchase 159,500 shares of common stock at $5.20 per share, with expiration dates from 2012 through 2014. As discussed in Note 6, upon the completion of the Company’s IPO in February 2012, Techne received a warrant with a ten-year term to purchase 150,000 shares of the Company’s common stock at $20.00 per share. As of December 31, 2012, warrants to purchase 301,672 shares of common stock were outstanding with a weighted-average exercise price of $12.56. During the nine months ended September 30, 2013, warrants to purchase 150,000 shares of common stock were exercised. As of September 30, 2013, warrants to purchase 151,672 shares of common stock were outstanding with a weighted-average exercise price of $19.84.

Equity_Incentive_Plans

Equity Incentive Plans	9 Months Ended
	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Equity Incentive Plans	'
	8	Equity Incentive Plans
	During the nine months ended September 30, 2013, the Company had the following option activities under its equity incentive plans:
						Outstanding Options
			Available for			Shares			Weighted Average		Weighted		Aggregate
			Grant						Exercise Price		Average		Intrinsic Value
											Remaining
											Contractual
											Term
	Balance at December 31, 2012			1,567,902			5,292,738		$	7.38
	Shares authorized			1,450,000
	Granted			(935,650	)		935,650			14.09
	Exercised			0			(624,548	)		3.68
	Forfeited			232,636			(232,636	)		12.23
	Balance at September 30, 2013			2,314,888			5,371,204		$	8.77		6.44 years	$	2,611,479
	Stock-based Compensation
	Total stock-based compensation expense was $1.6 million and $4.7 million during the three and nine months ended September 30, 2013, respectively, and $1.5 million and $3.4 million during the same periods ended September 30, 2012, respectively. As of September 30, 2013, $13.8 million of total unrecognized compensation expense related to employee stock options, net of estimated forfeitures, was expected to be recognized over a weighted-average period of 2.81 years.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates.
Reclassifications	'
	Reclassifications
	Certain items in the Condensed Consolidated Statements of Cash Flows have been reclassified to conform to the current fiscal year’s format.
Net Loss Per Share	'
	Net Loss Per Share
	Basic and diluted net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Participating securities are included in the computation of basic income per share using the two-class method. The calculation of diluted net loss per share excludes potential common stock because its effect is antidilutive. Potential common stock consists of incremental common shares issuable upon the exercise of stock options and warrants.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Company's Potential Common Stock	'
	For the three and nine months ended September 30, 2013 and 2012, the Company’s potential common stock includes the following shares, all of which have been excluded from the computation of diluted net loss per share because their impact is antidilutive:
		September 30,
		2013		2012
	Options to purchase common stock		5,371,204		5,396,959
	Warrants to purchase common stock		151,672		309,500
			5,522,876		5,706,459

Cash_Equivalents_and_Investmen1

Cash Equivalents and Investments (Tables)	9 Months Ended
	Sep. 30, 2013
Cash And Cash Equivalents [Abstract]	'
Amortized Cost and Fair Value of Cash Equivalents and Investments	'
	The amortized cost and fair value of cash equivalents and investments at September 30, 2013 and December 31, 2012 were as follows (in thousands):
		September 30, 2013
		Amortized		Gross Unrealized					Fair
		Cost		Gains		Losses			Value
	Money market fund	$	21,327	$	0	$	0		$	21,327
	Certificate of deposits		6,018		0		0			6,018
	U.S. treasury securities		2,003		3		0			2,006
	Government-sponsored agencies		9,818		10		(1	)		9,827
	Commercial paper		9,692		0		0			9,692
	Corporate debt securities		107,414		39		(42	)		107,411
	Total available-for-sale securities	$	156,272	$	52	$	(43	)	$	156,281
	Classified as:
	Cash equivalents								$	21,326
	Short-term investments									102,224
	Long-term investments									32,731
	Total available-for-sale securities								$	156,281
		31-Dec-12
		Amortized		Gross Unrealized					Fair
		Cost		Gains		Losses			Value
	Money market fund	$	10,403	$	1	$	0		$	10,404
	Government-sponsored agencies		6,009		1		0			6,010
	Commercial paper		29,171		3		0			29,174
	Corporate debt securities		71,980		23		(26	)		71,977
	Total available-for-sale securities	$	117,563	$	28	$	(26	)	$	117,565
	Classified as:
	Cash equivalents								$	7,069
	Short-term investments									94,234
	Long-term investments									16,262
	Total available-for-sale securities								$	117,565

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Measurements of Company's Financial Assets and Liabilities	'
	The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements are as follows as of September 30, 2013 and December 31, 2012 (in thousands):
		September 30, 2013
	Description	Level 1		Level 2		Level 3		Total
	Money market fund	$	21,327	$	0	$	0	$	21,327
	Certificate of deposits		6,018		0		0		6,018
	U.S. treasury securities		0		2,006		0		2,006
	Government-sponsored agencies		0		9,827		0		9,827
	Commercial paper		0		9,692		0		9,692
	Corporate debt securities		0		107,411		0		107,411
	Total assets	$	27,345	$	128,936	$	0	$	156,281
		31-Dec-12
	Description	Level 1		Level 2		Level 3		Total
	Money market fund	$	10,404	$	0	$	0	$	10,404
	Government-sponsored agencies		0		6,010		0		6,010
	Commercial paper		0		29,174		0		29,174
	Corporate debt securities		0		71,977		0		71,977
	Total assets	$	10,404	$	107,161	$	0	$	117,565

Accrued_Liabilities_Tables

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Accrued Liabilities	'
	Accrued liabilities consist of the following (in thousands):
		September 30,		December 31,
		2013		2012
	Research and development related	$	2,615	$	3,678
	Compensation related		1,613		1,889
	Other		776		700
		$	5,004	$	6,267

RelatedParty_Transactions_Tabl

Related-Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Revenues from GSK	'
	The Company recognized the following revenues from GSK during the three and nine months ended September 30, 2013 and 2012 (in thousands):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
	GSK:
	Contract revenue	$	393	$	0	$	1,950	$	0
	Recognition of up-front payments		1,129		1,128		3,385		3,274
	Total revenues	$	1,522	$	1,128	$	5,335	$	3,274

Equity_Incentive_Plans_Tables

Equity Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Option Activity under its Stock Plans	'
	During the nine months ended September 30, 2013, the Company had the following option activities under its equity incentive plans:
					Outstanding Options
		Available for			Shares			Weighted Average		Weighted		Aggregate
		Grant						Exercise Price		Average		Intrinsic Value
										Remaining
										Contractual
										Term
	Balance at December 31, 2012		1,567,902			5,292,738		$	7.38
	Shares authorized		1,450,000
	Granted		(935,650	)		935,650			14.09
	Exercised		0			(624,548	)		3.68
	Forfeited		232,636			(232,636	)		12.23
	Balance at September 30, 2013		2,314,888			5,371,204		$	8.77		6.44 years	$	2,611,479

Description_of_Business_Additi

Description of Business - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
	Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]	'
Number of operating segment	1

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Company's Potential Common Stock (Detail)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	5,522,876	5,706,459
Options to purchase common stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	5,371,204	5,396,959
Warrants to purchase common stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	151,672	309,500

Cash_Equivalents_and_Investmen2

Cash Equivalents and Investments - Amortized Cost and Fair Value of Cash Equivalents and Investments (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Cash equivalents	$21,326	$7,069
Short-term investments	102,224	94,234
Long-term investments	32,731	16,262
Fair Value	156,281	117,565
Money market fund [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	21,327	10,403
Gross Unrealized Gains	0	1
Gross Unrealized Losses	0	0
Fair Value	21,327	10,404
Certificate of deposits [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	6,018	'
Gross Unrealized Gains	0	'
Gross Unrealized Losses	0	'
Fair Value	6,018	'
U.S. treasury securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	2,003	'
Gross Unrealized Gains	3	'
Gross Unrealized Losses	0	'
Fair Value	2,006	'
Government-sponsored agencies [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	9,818	6,009
Gross Unrealized Gains	10	1
Gross Unrealized Losses	-1	0
Fair Value	9,827	6,010
Commercial paper [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	9,692	29,171
Gross Unrealized Gains	0	3
Gross Unrealized Losses	0	0
Fair Value	9,692	29,174
Corporate debt securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	107,414	71,980
Gross Unrealized Gains	39	23
Gross Unrealized Losses	-42	-26
Fair Value	107,411	71,977
Total available-for-sale securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	156,272	117,563
Gross Unrealized Gains	52	28
Gross Unrealized Losses	-43	-26
Fair Value	$156,281	$117,565

Cash_Equivalents_and_Investmen3

Cash Equivalents and Investments - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Schedule of Available-for-sale Securities [Line Items]	'
Significant realized gains or losses on available-for-sale securities	0
Available-for-sale securities held	0
Maximum [Member]	'
Schedule of Available-for-sale Securities [Line Items]	'
Maturity period available-for-sale securities	'Less than two years

Fair_Value_Measurements_Fair_V

Fair Value Measurements - Fair Value Measurements of Company's Financial Assets and Liabilities (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	$156,281	$117,565
Money market fund [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	21,327	10,404
Certificate of deposits [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	6,018	'
U.S. treasury securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	2,006	'
Government-sponsored agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	9,827	6,010
Commercial paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	9,692	29,174
Corporate debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	107,411	71,977
Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	27,345	10,404
Level 1 [Member] | Money market fund [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	21,327	10,404
Level 1 [Member] | Certificate of deposits [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	6,018	'
Level 1 [Member] | U.S. treasury securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	'
Level 1 [Member] | Government-sponsored agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Level 1 [Member] | Commercial paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Level 1 [Member] | Corporate debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	128,936	107,161
Level 2 [Member] | Money market fund [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Level 2 [Member] | Certificate of deposits [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	'
Level 2 [Member] | U.S. treasury securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	2,006	'
Level 2 [Member] | Government-sponsored agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	9,827	6,010
Level 2 [Member] | Commercial paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	9,692	29,174
Level 2 [Member] | Corporate debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	107,411	71,977
Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Level 3 [Member] | Money market fund [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Level 3 [Member] | Certificate of deposits [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	'
Level 3 [Member] | U.S. treasury securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	'
Level 3 [Member] | Government-sponsored agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Level 3 [Member] | Commercial paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	0	0
Level 3 [Member] | Corporate debt securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	$0	$0

Accrued_Liabilities_Accrued_Li

Accrued Liabilities - Accrued Liabilities (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Accrued Liabilities [Line Items]	'	'
Accrued liabilities	$5,004	$6,267
Research and development related [Member]	'	'
Accrued Liabilities [Line Items]	'	'
Accrued liabilities	2,615	3,678
Compensation related [Member]	'	'
Accrued Liabilities [Line Items]	'	'
Accrued liabilities	1,613	1,889
Other [Member]	'	'
Accrued Liabilities [Line Items]	'	'
Accrued liabilities	$776	$700

RelatedParty_Transactions_Reve

Related-Party Transactions - Revenues from GSK (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Related Party Transaction [Line Items]	'	'	'	'
Revenue	$1,522	$1,128	$5,335	$3,274
Glaxo Group Limited [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Revenue	1,522	1,128	5,335	3,274
Contract revenue [Member] | Glaxo Group Limited [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Revenue	393	0	1,950	0
Recognition of up-front payments [Member] | Glaxo Group Limited [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Revenue	$1,129	$1,128	$3,385	$3,274

RelatedParty_Transactions_Addi

Related-Party Transactions - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2011	Feb. 29, 2012	Feb. 29, 2012	Feb. 29, 2012	Sep. 30, 2013	Dec. 31, 2012
			Techne [Member]	Techne [Member]	Techne [Member]	Techne [Member]	GSK Agreement [Member]	GSK Agreement [Member]
					Private placement [Member]	Convertible notes payable [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'
Accounts receivable	$523,000	$1,156,000	'	'	'	'	$500,000	$1,200,000
Convertible loan principal amount	'	'	10,000,000	'	'	'	'	'
Convertible loan interest rate	'	'	5.00%	'	'	'	'	'
Convertible loan maturity date	'	'	'2021-09	'	'	'	'	'
Outstanding, accrued, unpaid interest converted into common stock	'	'	'	'	'	1,021,490	'	'
Conversion price of common stock	'	'	'	$10	'	'	'	'
Warrant contractual term	'	'	'	'10 years	'	'	'	'
Purchase of warrant common stock	150,000	'	'	150,000	'	'	'	'
Warrant common stock exercise price	'	'	'	20	'	'	'	'
Warrant common stock exercise price rate	'	'	'	200.00%	'	'	'	'
Parties purchased common stock	'	'	'	'	$5,000,000	'	'	'
Techne purchased common stock per share	'	'	'	'	$10	'	'	'

Shareholders_Equity_Additional

Shareholders' Equity - Additional Information (Detail) (USD $)	1 Months Ended	9 Months Ended							1 Months Ended
	Apr. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Feb. 29, 2012	Feb. 29, 2012	Feb. 29, 2012	Feb. 29, 2012
					Warrants to purchase common stock [Member]	Warrants to purchase common stock [Member]	Warrants to purchase common stock [Member]	Series B convertible preferred stock [Member]	IPO [Member]	Private placement [Member]
								Warrants to purchase common stock [Member]
Stockholders Equity [Line Items]	'	'	'	'	'	'	'	'	'	'
Issuance of common stock	5,750,000	'	'	'	'	'	'	'	5,175,000	'
Net proceeds after underwriting discounts, commissions and offering expenses	'	'	'	'	'	'	'	'	$45,000,000	'
Gross proceeds in concurrent private placements	'	'	'	'	'	'	'	'	12,000,000	'
Common stock, shares issued	'	42,865,408	'	36,354,547	'	'	'	'	'	1,200,000
Common stock offering price per share	$12	'	'	'	'	'	'	'	'	$10
Conversion of preferred stock to common stock	'	'	'	'	'	'	'	'	24,332,186	'
Net proceeds after underwriting discounts, commissions and offering expenses	$64,400,000	$64,365,000	$57,017,000	'	'	'	'	'	'	'
Warrant common stock exercise price	'	'	'	'	'	'	'	$5.20	'	'
Warrant contractual term	'	'	'	'	'	'	'10 years	'	'	'
Purchase of warrant common stock	'	150,000	'	'	'	'	150,000	159,500	'	'
Warrant common stock exercise price	'	'	'	'	'	'	20	'	'	'
Warrants outstanding to purchase convertible stock	'	'	'	'	151,672	301,672	'	'	'	'
Weighted average exercise price	'	'	'	'	$19.84	$12.56	'	'	'	'

Equity_Incentive_Plans_Option_

Equity Incentive Plans - Option Activity under its Stock Plans (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Shares Available for Grant, Beginning Balance	1,567,902
Available for Grant, Shares authorized	1,450,000
Shares Available For Grant, Option granted	-935,650
Shares Available for Grant, Exercised	0
Shares Available for Grant, Option forfeited	232,636
Shares Available For Grant, Ending Balance	2,314,888
Shares Options Outstanding, Beginning Balance	5,292,738
Shares, Options Outstanding, Granted	935,650
Shares, Options Outstanding, Exercised	-624,548
Shares, Options Outstanding, Forfeited	-232,636
Shares Options Outstanding, Ending Balance	5,371,204
Weighted Average Exercise Price, Options Outstanding, Beginning Balance	$7.38
Weighted Average Exercise Price, Granted	$14.09
Weighted Average Exercise Price, Exercised	$3.68
Weighted Average Exercise Price, Forfeited	$12.23
Weighted Average Exercise Price, Options Outstanding, Ending Balances	$8.77
Options Outstanding and Exercisable, Weighted Average Remaining Contractual Term	'6 years 5 months 9 days
Options exercisable aggregate intrinsic value	$2,611,479

Equity_Incentive_Plans_Additio

Equity Incentive Plans - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'	'	'	'
Stock-based compensation	$1,600,000	$1,500,000	$4,699,000	$3,415,000
Unrecognized compensation expense related to employee stock options	$13,800,000	'	$13,800,000	'
Total unrecognized compensation expense related to employee stock options weighted-average period	'	'	'2 years 9 months 22 days	'