Concert Pharmaceuticals (CNCE) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	6-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	CNCE
Entity Registrant Name	CONCERT PHARMACEUTICALS, INC.
Entity Central Index Key	1367920
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		21,721,565

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$63,816	$13,396
Investments, available for sale	49,251	65,836
Interest receivable	198	262
Accounts receivable	129	1,021
Prepaid expenses and other current assets	2,241	1,205
Total current assets	115,635	81,720
Property and equipment, net	2,283	2,284
Restricted cash	400	400
Other assets	42	50
Total assets	118,360	84,454
Current liabilities:
Accounts payable	1,004	560
Accrued expenses and other liabilities	2,704	5,002
Deferred revenue, current portion	5,809	5,955
Loan payable, net of discount	5,037	7,101
Total current liabilities	14,554	18,618
Deferred revenue, net of current portion	9,259	9,866
Deferred lease incentive, net of current portion	810	888
Deferred rent, net of current portion	247	257
Total liabilities	24,870	29,629
Commitments
Stockholders' equity:
Preferred stock, $0.001 par value per share; 5,000,000 shares authorized, no shares issued and outstanding in 2015 and 2014, respectively
Common stock, $0.001 par value per share; 100,000,000 shares authorized, 21,701,480 and 18,234,068 shares issued and outstanding in 2015 and 2014, respectively	22	18
Additional paid-in capital	247,800	200,157
Accumulated other comprehensive income (loss)	6	-14
Accumulated deficit	-154,338	-145,336
Total stockholders' equity	93,490	54,825
Total liabilities and stockholders' equity	$118,360	$84,454

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	21,701,480	18,234,068
Common stock, shares outstanding	21,701,480	18,234,068

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue:
License and research and development revenue	$1,306	$1,613
Total revenue	1,306	1,613
Operating expenses:
Research and development	6,944	5,594
General and administrative	3,233	2,538
Total operating expenses	10,177	8,132
Loss from operations	-8,871	-6,519
Investment income	17	4
Interest and other expense	-148	-435
Net loss	-9,002	-6,950
Other comprehensive income (loss):
Unrealized gain (loss) on investments	20	-8
Comprehensive loss	-8,982	-6,958
Reconciliation of net loss to net loss applicable to common stockholders:
Net loss	-9,002	-6,950
Accretion on redeemable convertible preferred stock		-55
Net loss applicable to common stockholders-basic and diluted	($9,002)	($7,005)
Net loss per share applicable to common stockholders-basic and diluted	($0.48)	($0.76)
Weighted-average number of common shares used in net loss per share applicable to common stockholders-basic and diluted	18,726	9,188

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net loss	($9,002)	($6,950)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	183	326
Stock-based compensation expense	646	210
Accretion of premiums and discounts on investments	181	84
Amortization of discount on loan payable	25	24
Amortization of deferred financing costs	9	9
Re-measurement of warrant to purchase redeemable securities		117
Amortization of deferred lease incentive	-76	-128
Changes in operating assets and liabilities:
Accounts receivable	898	102
Interest receivable	64	-225
Prepaid expenses and other current assets	-1,045	-1,126
Other assets	8	98
Accounts payable	444	321
Accrued expenses and other liabilities	-2,598	42
Deferred rent	-20	-59
Deferred revenue	-753	-940
Net cash used in operating activities	-11,036	-8,095
Investing activities
Purchases of property and equipment	-150	-100
Purchases of investments	-5,576	-51,432
Maturities of investments	22,000	6,000
Net cash provided by (used in) investing activities	16,274	-45,532
Financing activities
Principal payments on loan payable	-2,089	-1,919
Repayment of leasehold improvement loan		-83
Proceeds from sale of common stock, net of underwriting discounts and commissions	46,995	86,579
Proceeds from exercise of stock options	310	105
Payment of public offering costs	-34	-1,042
Net cash provided by financing activities	45,182	83,640
Net increase in cash and cash equivalents	50,420	30,013
Cash and cash equivalents at beginning of period	13,396	9,638
Cash and cash equivalents at end of period	63,816	39,651
Supplemental cash flow information:
Cash paid for interest	138	308
Property and equipment included in accrued expenses and other liabilities	92
Public offering costs incurred but unpaid at period end	$276	$394

Nature_of_Business

Nature of Business	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Nature of Business	1. Nature of Business
	Concert Pharmaceuticals, Inc., or Concert or the Company, was incorporated on April 12, 2006 as a Delaware corporation with operations based in Lexington, Massachusetts. The Company is a clinical stage biopharmaceutical company that applies its extensive knowledge of deuterium chemistry to discover and develop novel small molecule drugs. The Company’s approach starts with approved drugs, advanced clinical candidates or previously studied compounds that the Company believes can be improved with deuterium substitution to provide better pharmacokinetic or metabolic properties, enhancing clinical safety, tolerability or efficacy. The Company believes this approach may enable drug discovery and clinical development that is more efficient and less expensive than conventional small molecule drug research and development. The Company’s pipeline includes multiple clinical-stage candidates and a number of preclinical compounds that it is currently assessing.
	In March 2015, the Company sold 3,300,000 shares of common stock in a public offering at a price to the public of $15.15 per share, resulting in net proceeds to the Company of approximately $46.7 million after deducting underwriting discounts and commissions and offering expenses.
	The Company had cash and cash equivalents and investments of $113.1 million at March 31, 2015. The Company believes that its cash and cash equivalents and investments at March 31, 2015 will be sufficient to allow the Company to fund its current operating plan for at least the next twelve months. The Company may pursue additional cash resources through public or private financings and establish collaborations with or license its technology to other companies.
	Unless otherwise indicated, all amounts are in thousands except share and per share amounts.

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	2. Basis of Presentation and Significant Accounting Policies
	Basis of Presentation
	The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals and revisions of estimates, considered necessary for a fair presentation of the condensed consolidated financial statements have been included. Interim results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2015 or any other future period.
	The accompanying condensed consolidated financial statements reflect the accounts of Concert and its subsidiary. All intercompany transactions between the Company and its subsidiary have been eliminated. Management has determined that the Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others. The information included in this quarterly report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC on March 2, 2015.
	Use of Estimates and Summary of Significant Accounting Policies
	The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that can affect the reported amounts of assets, liabilities, equity, revenue and expenses and the disclosure of contingent assets and liabilities. In preparing the condensed consolidated financial statements, management used estimates in the following areas, among others: revenue recognition for multiple-element revenue arrangements, stock-based compensation expense, accrued expenses and income taxes. Actual results could differ from those estimates.
	There have been no material changes to the significant accounting policies previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014.
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2014-09, Revenue from Contracts with Customers (Topic 606), or ASU 2014-09, which stipulates that an entity should recognize revenue 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. To achieve this core principle, ASU 2014-09 provides that an entity should apply the following steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This update will be effective for the Company beginning in the first quarter of fiscal 2017 with early adoption not permitted. The Company is currently assessing the impact of this ASU on its financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern, or ASU 2014-15. ASU 2014-15 amends FASB Accounting Standards Codification 205-40, Presentation of Financial Statements – Going Concern, by providing guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements, including requiring management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements and providing certain disclosures if there is substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 will be effective for the Company’s fiscal 2016 and for interim periods beginning in the first quarter of fiscal 2017. The Company is still evaluating the impact of this ASU on its financial statement disclosures.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements
	The Company measures certain financial assets and liabilities at fair value on a recurring basis (principally cash equivalents and investments) that have been classified as Level 1, 2 or 3 within the fair value hierarchy as described below. Fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize data points that are observable, such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs utilize unobservable data points for the asset or liability. The Company’s investments in money market funds, U.S. treasury obligations and government agency securities have been classified as Level 1 because their fair values are based on quoted market prices.
	As of March 31, 2015 and December 31, 2014, the Company’s financial assets and liabilities recognized at fair value consisted of the following:
		Level 1		Level 2		Level 3		Total
	March 31, 2015
	Money market funds, included in cash equivalents	$	62,274	$	—	$	—	$	62,274
	Investments, available for sale:
	U.S. Treasury obligations		5,802		—		—		5,802
	Government agency securities		43,449		—		—		43,449
	Total	$	111,525	$	—	$	—	$	111,525
		Level 1		Level 2		Level 3		Total
	December 31, 2014
	Money market funds, included in cash equivalents	$	11,904	$	—	$	—	$	11,904
	Investments, available for sale:
	U.S. Treasury obligations		12,035		—		—		12,035
	Government agency securities		53,801		—		—		53,801
	Total	$	77,740	$	—	$	—	$	77,740
	The carrying amount of financial instruments not carried at fair value, including the loan payable, approximate fair value. The carrying value of the Company’s loan payable approximated fair value because the interest rate yields for the loan approximate current market yields. The disclosed fair value of the Company’s loan payable is a Level 3 liability within the fair value hierarchy.

Cash_Cash_Equivalents_and_Inve

Cash, Cash Equivalents and Investments, Available for Sale	3 Months Ended
	Mar. 31, 2015
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Investments, Available for Sale	4. Cash, Cash Equivalents and Investments, Available for Sale
	Cash equivalents include all highly liquid investments maturing within 90 days from the date of purchase. Investments consist of securities with original maturities greater than 90 days when purchased. The Company classifies these investments as available-for-sale and records them at fair value in the accompanying condensed consolidated balance sheets. Unrealized gains or losses are included in accumulated other comprehensive income (loss). Premiums or discounts from par value are amortized to investment income over the life of the underlying investment.
	Cash, cash equivalents and investments, available for sale included the following at March 31, 2015 and December 31, 2014:
		Average		Amortized		Unrealized			Unrealized			Fair
		maturity		cost		gains			losses			value
	March 31, 2015
	Cash			$	1,542	$	—		$	—		$	1,542
	Money market funds				62,274		—			—			62,274
	Cash and cash equivalents			$	63,816	$	—		$	—		$	63,816
	U.S. Treasury obligations		263 days	$	5,803	$	—		$	(1	)	$	5,802
	Government agency securities		119 days		43,442		7			—			43,449
	Investments, available for sale			$	49,245	$	7		$	(1	)	$	49,251
		Average		Amortized		Unrealized			Unrealized			Fair
		maturity		cost		gains			losses			value
	December 31, 2014
	Cash			$	1,492	$	—		$	—		$	1,492
	Money market funds				11,904		—			—			11,904
	Cash and cash equivalents			$	13,396	$	—		$	—		$	13,396
	U.S. Treasury obligations		171 days	$	12,037	$	(2	)	$	—		$	12,035
	Government agency securities		194 days		53,813		3			(15	)		53,801
	Investments, available for sale			$	65,850	$	1		$	(15	)	$	65,836
	Although available to be sold to meet operating needs or otherwise, securities are generally held through maturity. The cost of securities sold is determined based on the specific identification method for purposes of recording realized gains and losses. During 2015 and 2014, there were no realized gains or losses on sales of investments, and no investments were adjusted for other than temporary declines in fair value.

Accrued_Expenses_and_Other_Lia

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	5. Accrued Expenses and Other Liabilities
	Accrued expenses and other liabilities consisted of the following:
		March 31,		December 31,
		2015		2014
	Accrued professional fees and other	$	959	$	916
	Employee compensation and benefits		494		1,606
	Research and development expenses		883		2,104
	Deferred lease incentive, current portion		310		308
	Deferred rent, current portion		58		68
		$	2,704	$	5,002

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes
	Deferred tax assets and deferred tax liabilities are recognized based on temporary differences between the financial reporting and tax basis of assets and liabilities using statutory rates. A valuation allowance is recorded against deferred tax assets if it is more likely than not that some or all of the deferred tax assets will not be realized.
	The Company records a provision or benefit for income taxes on ordinary pre-tax income or loss based on its estimated effective tax rate for the year. As of March 31, 2015, the Company forecast an ordinary pre-tax loss for the year ended December 31, 2015 and, since it maintains a full valuation allowance on its deferred tax assets, the Company did not record an income tax benefit for the three months ended March 31, 2015.
	To the extent new information becomes available, the Company may revise its forecast of ordinary pre-tax income or loss, and therefore the estimated effective tax rate, in future periods. The potential effect of a non-recognized subsequent event is considered in the Company’s estimated effective tax rate in the period in which the event occurs.
	The Company’s ability to use its operating loss carryforwards and tax credits to offset future taxable income is subject to restrictions under Sections 382 and 383 of the United States Internal Revenue Code (the “Internal Revenue Code”). Net operating loss and tax credit carryforwards may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant shareholders over a three-year period in excess of 50 percent, as defined under Sections 382 and 383 of the Internal Revenue Code. Such changes would limit the Company’s use of its operating loss carryforwards and tax credits. In such a situation, the Company may be required to pay income taxes, even though significant operating loss carryforwards and tax credits exist. The Company is currently in the process of evaluating whether any such ownership changes have occurred.

Collaborations

Collaborations	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborations	7. Collaborations
	Celgene
	In April 2013, the Company entered into a master development and license agreement with Celgene Corporation and Celgene International Sàrl, referred to together as Celgene, which is primarily focused on the research, development and commercialization of specified deuterated compounds targeting inflammation or cancer. The collaboration is initially focused on one program, but has the potential to encompass up to four programs.
	For the initial program, which is referred to as CTP-730, the Company granted Celgene an exclusive worldwide license to develop, manufacture and commercialize deuterated analogs of a selected non-deuterated compound and certain close chemical derivatives thereof. The Company further granted Celgene licenses with respect to two additional programs and an option with respect to a third additional program. The Company and Celgene have agreed on the non-deuterated compounds for each of the two additional license programs. For the option program, Celgene may select the non-deuterated compound at a later time, which, unless otherwise agreed by the Company, will be limited to a compound for which Celgene possesses exclusive rights. With respect to the two additional license programs, the Company granted Celgene an upfront exclusive worldwide license to develop, manufacture and commercialize deuterated products that contain deuterated analogs of the agreed non-deuterated compounds. Celgene is restricted from utilizing their research, development and commercialization rights under each of these upfront licenses, unless, within seven years after the effective date of the agreement, Celgene pays the Company a license exercise fee. If Celgene does not elect to pay the license exercise fee during the seven year period, the license will expire. With respect to the option program, once a compound is selected, Celgene may exercise its option by paying the Company an option exercise fee within seven years of the effective date of the agreement, and upon Celgene’s exercise of the option the Company will grant to Celgene an exclusive worldwide license to develop, manufacture and commercialize deuterated products that contain deuterated analogs of the selected non-deuterated compound.
	The Company is responsible for conducting and funding research and early development activities for the initial program at its own expense pursuant to mutually agreed upon development plans. This includes the completion of single and multiple ascending dose Phase 1 clinical trials and any mutually agreed upon additional Phase 1 clinical trials, as set forth in the development plan and approved by the joint steering committee, or JSC, for the collaboration.
	Under the terms of the agreement, the Company received a non-refundable upfront payment of $35.0 million. In addition, the Company is eligible to earn up to $23.0 million in development milestone payments, including $8.0 million related to the completion of a Phase 1 clinical trial, up to $247.5 million in regulatory milestone payments and up to $50.0 million in sales-based milestone payments related to products within the initial program. The next milestone payment the Company may be entitled to receive under the initial program is $8.0 million related to the completion of Phase 1 clinical trials of CTP-730. If Celgene exercises its rights with respect to either of the two additional license programs, the Company will receive a license exercise fee for the applicable program of $30.0 million and will also be eligible to earn up to $23.0 million in development milestone payments and up to $247.5 million in regulatory milestone payments for that program. Additionally, with respect to one of the additional license programs, the Company is eligible to receive up to $100.0 million in milestone payments based on net sales of products, and with respect to the other additional license program, the Company is eligible to receive up to $50.0 million in milestone payments based on net sales of products. If Celgene exercises its option with respect to the option program, in respect of a compound to be identified at a later time, the Company will receive an option exercise fee of $10.0 million and will be eligible to earn up to $23.0 million in development milestone payments and up to $247.5 million in regulatory milestone payments.
	In addition, with respect to each program, Celgene is required to pay the Company royalties on worldwide net sales of each licensed product at defined percentages ranging from the mid-single digits to low double digits below 20%. The royalty term for each licensed product in each country is the period commencing with first commercial sale of the applicable licensed product in the applicable country and ending on the latest of expiration of specified patent coverage, expiration of regulatory exclusivity or 10 years following commercial launch. The royalty rate is reduced on a country-by-country basis during any period within the royalty term when there is no patent claim or regulatory exclusivity covering the licensed product in the particular country.
	The Company’s arrangement with Celgene contains the following deliverables: (i) an exclusive worldwide license to develop, manufacture and commercialize deuterated analogs of a selected compound related to the initial program, or the License Deliverable, (ii) obligations to perform research and development services associated with the initial program, or the R&D Services Deliverable, (iii) obligation to supply preclinical and clinical trial material related to the initial program, or the Supply Deliverable, (iv) participation on the JSC during the term of the initial program, or the JSC Deliverable, (v) significant and incremental discount related to the first additional license program for which the non-deuterated compound has been selected, or the First Discount Deliverable and (vi) significant and incremental discount related to the second additional license program for which the non-deuterated compound has been selected, or the Second Discount Deliverable.
	Allocable arrangement consideration at inception was limited to the $35.0 million non-refundable upfront payment. The Company allocated the arrangement consideration for the collaboration among the separate units of accounting using the relative selling price method as follows: (i) $17.0 million to the License Deliverable; (ii) $8.7 million to the R&D Services Deliverable for the initial program; (iii) $3.2 million to the Supply Deliverable for the initial program; (iv) $0.1 million to the JSC Deliverable for the initial program; (v) $3.0 million to the First Discount Deliverable for the first additional program; and (vi) $3.0 million to the Second Discount Deliverable for the second additional program.
	The arrangement consideration allocated to the License Deliverable was recognized upon delivery. Amounts allocated to the R&D Services Deliverable and Supply Deliverable are recognized under the proportional performance method over the expected period of performance, or 39 months. The amount allocated to the JSC Deliverable is recognized ratably over the expected period of performance, or 39 months. Amounts allocated to the First Discount Deliverable and the Second Discount Deliverable are deferred and will be recognized at the earlier of when the associated license rights are exercised and licenses are delivered or upon lapsing of the underlying right, if the respective right expires unexercised. The Company reassesses the estimated periods of performance for each unit of accounting at the end of each reporting period.
	During the three months ended March 31, 2015 and 2014, the Company recognized revenue of $0.6 million and $0.4 million for the R&D Services Deliverable and $0.1 million and $0.5 million for the Supply Deliverable, respectively. The revenue was classified as license and research and development revenue in the accompanying condensed consolidated statement of operations and comprehensive loss.
	As of March 31, 2015, there was $12.2 million of deferred revenue related to the Company’s collaboration with Celgene, $5.7 million of which was classified as current and $6.5 million of which was classified as noncurrent, in the accompanying condensed consolidated balance sheet.
	Jazz Pharmaceuticals
	In February 2013, the Company entered into a development and license agreement with Jazz Pharmaceuticals, Inc., or Jazz Pharmaceuticals, to research, develop and commercialize products containing a deuterated sodium oxybate analog, or D-SXB. The Company is initially focusing on one analog, designated as JZP-386. Under the terms of the agreement, the Company granted Jazz Pharmaceuticals an exclusive, worldwide, royalty-bearing license under intellectual property controlled by the Company to develop, manufacture and commercialize D-SXB products including, but not limited to, JZP-386.
	The Company, together with Jazz Pharmaceuticals, is conducting certain development activities for Phase 1 clinical trials with respect to JZP-386 pursuant to an agreed upon development plan. The Company is responsible under the development plan for conducting the Phase 1 clinical trials with respect to JZP-386. Thereafter, the Company’s obligations to conduct further development activities are subject to mutual agreement. Jazz Pharmaceuticals has assumed all manufacturing responsibilities. Pursuant to the agreement, the Company’s costs for activities under the development plan, including pass-through costs and the costs of the Company’s employees’ time at a rate per full-time equivalent year of its employees’ time, which the Company and Jazz Pharmaceuticals agreed to, are reimbursed by Jazz Pharmaceuticals, except for the costs of a Phase 1 clinical trial that was initiated in the first quarter of 2015, which will be shared between Jazz Pharmaceuticals and the Company. This reimbursement is subject to limitations specified in the agreement, including adherence within a particular percentage to the development budget. Under the agreement, Jazz Pharmaceuticals is subject to specified diligence obligations regarding the development and commercialization of licensed products.
	Under the agreement, the Company received a non-refundable upfront payment of $4.0 million and is eligible to earn an aggregate of up to $8.0 million in development milestone payments, up to $35.0 million in regulatory milestone payments and up to $70.0 million in sales-based milestone payments based on net product sales of licensed products. The next milestone payment that the Company may be entitled to receive is $4.0 million related to initiation of the first Phase 2 clinical trial of JZP-386.
	In addition, Jazz Pharmaceuticals is required to pay the Company royalties at defined percentages ranging from the mid-single digits to low double digits below 20% on worldwide net sales of licensed products. The royalty term for each licensed product in each country is the period commencing with first commercial sale of the applicable licensed product in the applicable country and ending on the later of the expiration of specified patent coverage or 10 years following commercial launch. The royalty rate is lowered, on a country-by-country basis, under certain circumstances as specified in the agreement.
	The Company determined that there were three deliverables under the agreement: (i) an exclusive, royalty-bearing, sub-licensable worldwide license to develop and commercialize D-SXB compounds, or the License Deliverable, (ii) participation on a joint steering committee, or the JSC Deliverable, and (iii) a deliverable to direct external patent activities and bear a portion of the external patent fees, or the Patent Support Deliverable.
	The Company allocated arrangement consideration of $3.7 million to the License Deliverable, $0.1 million to the JSC Deliverable and $0.2 million to the Patent Support Deliverable. The Company recognized the arrangement consideration allocated to the License Deliverable upon delivery and will recognize revenue related to the JSC Deliverable and the Patent Support Deliverable over the respective periods of performance, which are each estimated to be 46 months.
	For the three months ended March 31, 2015 and 2014, the Company recognized revenue of $0.4 million and $0.6 million related to the performance of development support services, respectively.
	Avanir
	In February 2012, the Company entered into a development and license agreement with Avanir Pharmaceuticals, Inc., or Avanir, under which the Company granted Avanir an exclusive worldwide license to develop, manufacture and commercialize deuterated dextromethorphan containing products. Avanir is initially focused on developing AVP-786, which is a combination of a deuterated dextromethorphan analog and an ultra-low dose of quinidine, for the treatment of neurologic and psychiatric disorders. Subsequent to the Company’s agreement, Avanir was acquired by Otsuka Pharmaceutical Co., Ltd. and it is now a wholly owned subsidiary of Otsuka America, Inc.
	Under the agreement, the Company received a non-refundable upfront payment of $2.0 million and has received milestone payments of $4.0 million. The Company is also eligible to earn, with respect to licensed products comprising a combination of deuterated dextromethorphan and quinidine, an additional $2.0 million development milestone payment related to initiation of dosing in a Phase 3 clinical trial for AVP-786, up to $37.0 million in regulatory and commercial launch milestone payments and up to $125.0 million in sales-based milestone payments. The next milestone that the Company may be entitled to earn is $2.0 million related to the initiation of dosing in a Phase 3 clinical trial for AVP-786. In addition, the Company is eligible for higher development milestones, up to an additional $43.0 million, for licensed products that do not require quinidine. Avanir is currently developing deuterated dextromethorphan only in combination with quinidine.
	Avanir also is required to pay the Company royalties at defined percentages ranging from the mid-single digits to low double digits below 20% on net sales of licensed products on a country-by-country basis. The royalty term for each licensed product in each country is the period commencing with first commercial sale of the applicable licensed product in the applicable country and ending on the later of expiration of specified patent coverage or 10 years following commercial launch. The royalty rate is reduced, on a country-by-country basis, during any period within the royalty term when there is no patent claim covering the licensed product in the particular country.
	The Company determined that the deliverables under the agreement were the exclusive, royalty-bearing sub-licensable license to deuterated dextromethorphan delivered at the inception of the arrangement as well as participation on a joint steering committee through a first investigational new drug application filing. The Company allocated arrangement consideration of $2.0 million to the license and an insignificant amount to the Company’s participation on the joint steering committee. Accordingly, the Company recognized the $2.0 million non-refundable upfront fee as revenue upon delivery of the deuterated dextromethorphan license in March 2012.
	Since June 2012, Avanir has elected to conduct all research and development activities, including manufacturing activities; however, the Company has continued to receive intellectual property cost reimbursements. The Company recognized $133 thousand and $61 thousand for the three months ended March 31, 2015 and 2014, respectively, for intellectual property cost reimbursements, the cost of which was recorded within general and administrative expense.
	GSK
	In May 2009, the Company entered into a research and development collaboration and license agreement with Glaxo Group Limited, or GSK, to research, develop and commercialize multiple products containing deuterated compounds, including CTP-499. The agreement with GSK, as subsequently amended, expired in May 2012 after GSK opted out of further development under the agreement and made a $2.75 million payment to the Company. The rights to the product candidates developed under the agreement have reverted to the Company and it is free to pursue them without further obligation to GSK other than to repay GSK an amount of up to $2.75 million if the Company commercializes CTP-499 or if, prior to a specified date in 2018, the Company re-licenses or transfers rights to CTP-499 to a third party. The $2.75 million payment was classified as deferred revenue and will not be recognized as revenue until all repayment obligations lapse.

Patent_Assignment

Patent Assignment	3 Months Ended
	Mar. 31, 2015
Text Block [Abstract]
Patent Assignment	8. Patent Assignment
	In September 2011, the Company entered into a patent assignment agreement with Auspex Pharmaceuticals, Inc., or Auspex, pursuant to which the Company assigned to Auspex a U.S. patent application relating to deuterated pirfenidone analogs. Under the terms of the agreement, the Company is eligible to receive certain royalty payments, or the Royalty Payments, equal to a percentage in the low single digits of net sales in the United States invoiced by Auspex or any of its affiliates, with respect to certain pharmaceutical products containing a deuterated pirfenidone analog. The patent assignment agreement further provides that if Auspex sells to another party all of its U.S. rights to certain deuterated pirfenidone products, or if Auspex grants to another party a license to sell certain deuterated pirfenidone products in the United States, the Company will receive an amount, or the Sublicense/Sale Payments, equal to a percentage in the teens of any proceeds Auspex receives therefrom that are attributable to the rights to such deuterated pirfenidone products in the United States. In addition, the patent assignment agreement provides that if Auspex is acquired in a change in control transaction at any time while it, or any of its affiliates, own certain patents or patent applications related to deuterated pirfenidone, the Company will receive within a specified period following the closing of the transaction 1.44% of any proceeds payable as consideration for the change in control, transaction including any amounts paid to stockholders and certain equity holders of Auspex. Any such change-in-control payment to the Company is credited to Auspex as a deduction against any future Royalty Payments and Sublicense/Sale Payments that may become due under the agreement, such that Auspex will not be required to make further Royalty Payments and Sublicense/Sale Payments to the Company until the aggregate amount of such Royalty Payments and Sublicense/Sale Payments exceeds the amount of such change-in-control payment. The patent assignment agreement expires upon the earlier to occur of (1) receipt by the Company of the final Sublicense/Sale Payment arising from (a) the sale of Auspex’s U.S. rights to certain deuterated pirfenidone products or (b) Auspex’s grant of an exclusive license to sell certain deuterated pirfenidone products in the United States in all indications and fields, or (2) the expiration of the last claim owned by Auspex or any of its affiliates in certain patents or patent applications related to deuterated pirfenidone analogs.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	9. Stock-Based Compensation
	The Company’s equity incentive plans provide for the issuance of a variety of stock-based awards, including incentive stock options, nonstatutory stock options and awards of stock, to directors, officers and employees of the Company, as well as consultants and advisors to the Company. To date, the Company has granted awards solely in the form of stock options, which have generally been granted with an exercise price equal to the fair value of the underlying common stock on the date of grant, expire no later than ten years from the date of grant and vest over various periods not exceeding four years.
	Effective January 1, 2015, an additional 729,363 shares were added to the Company’s 2014 Stock Incentive Plan, or the 2014 Plan, for future issuance pursuant to the terms of the 2014 Plan. As of March 31, 2015, there were 1,713,317 shares of common stock available for future award grants under the 2014 Plan.
	Total stock-based compensation expense related to all stock-based awards recognized in the condensed consolidated statements of operations and comprehensive loss consisted of:
			Three Months Ended
			March 31,
			2015			2014
	Research and development		$	325		$	90
	General and administrative			321			120
	Total stock-based compensation expense		$	646		$	210
	Stock Options
	The weighted-average fair value of options granted during the three months ended March 31, 2015 and 2014, based on fair values estimated as of the applicable grant dates using the Black-Scholes-Merton option pricing model, was $9.34 and $8.79 per option share, respectively.
	For the three months ended March 31, 2015 and 2014, the fair values of options granted were estimated using the following weighted-average assumptions:
			Three Months Ended March 31,
			2015			2014
	Expected volatility			73.11	%		68.95	%
	Expected term			6.0 years			6.0 years
	Risk-free interest rate			1.54	%		2.02	%
	Expected dividend yield			0	%		0	%
	For the three months ended March 31, 2015 and 2014, expected volatility was estimated using the historical volatility of the common stock of a group of similar companies that were publicly traded. The Company will continue to apply this process until a sufficient amount of historical information regarding the volatility of its own stock price becomes available.
	During the three months ended March 31, 2015 and 2014, the total intrinsic value of stock options exercised was $2.1 million and $0.2 million, respectively. The total grant date fair value of stock options that vested during the three months ended March 31, 2015 and 2014 was $0.4 million and $0.2 million, respectively.
	The following is a summary of stock option activity for the three months ended March 31, 2015:
			Number of			Weighted			Weighted		Aggregate
			Option Shares			Average			Average		Intrinsic
						Exercise			Remaining		Value
						Price per			Contractual
						Share			Term
									(In years)		(In thousands)
	Outstanding at December 31, 2014			2,688,937		$	6.04
	Granted			152,000		$	14.46
	Exercised			(167,412	)	$	1.88
	Outstanding at March 31, 2015			2,673,525		$	6.78			6.88	$	22,380
	Exercisable at March 31, 2015			1,319,996		$	3.75			4.64	$	15,044
	Vested and expected to vest at March 31, 2015 (1)			2,578,853		$	6.65			6.8	$	21,908
	-1	This represents the number of vested stock option shares as of March 31, 2015, plus the number of unvested stock option shares that the Company estimated as of March 31, 2015 would vest, based on the unvested stock option shares at March 31, 2015 and an estimated forfeiture rate of 5%.
	As of March 31, 2015, there was $7.9 million of unrecognized compensation cost related to stock options that are expected to vest. These costs are expected to be recognized over a weighted average remaining vesting period of 3.0 years.

Loan_Payable

Loan Payable	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Loan Payable	10. Loan Payable
	On December 22, 2011, the Company entered into a Loan and Security Agreement, or the Loan and Security Agreement, with Hercules Technology Growth Capital, Inc., or Hercules. The Loan and Security Agreement provides for aggregate advances of up to $20 million in two tranches. Under the first tranche, the Company obtained an advance on December 22, 2011 totaling $7.5 million, or the December 2011 Advance. Under the second tranche, the Company obtained an advance on March 29, 2012 totaling $12.5 million, or the March 2012 Advance. The Company incurred $0.2 million in loan issuance costs paid directly to the lenders, which have been offset against the loan proceeds as a loan discount.
	Each advance made under the Loan and Security Agreement bears interest at a variable rate of the greater of 8.5% and an amount equal to 8.5% plus the prime rate of interest minus 5.25%, provided however, that the per annum interest rate shall not exceed 11%. Through March 31, 2015, each of the December 2011 Advance and the March 2012 Advance had an interest rate of 8.5%. Interest-only payments were due monthly on the first day of each month beginning the month after the date of the respective advance until April 30, 2013. Thereafter the aggregate principal balance outstanding became payable in 30 equal monthly installments of principal and interest beginning May 1, 2013 and continuing through the maturity date of October 1, 2015.
	The loan is collateralized by a blanket lien on all of the Company’s corporate assets, excluding intellectual property, and by a negative pledge on its intellectual property. The Loan and Security Agreement contains default provisions that include the occurrence of a material adverse effect, as defined therein, that would entitle the lender to declare all principal, interest and other amounts owed by the Company under the Loan and Security Agreement immediately due and payable. The Company does not believe that any events have occurred that could reasonably be deemed to have a material adverse effect. The Company does not have any financial covenants under the Loan and Security Agreement.
	Future minimum payments, which include principal and interest due under the Loan and Security Agreement, are $5.2 million, in the aggregate, for the remainder of 2015.

Earnings_Loss_Per_Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	11. Earnings (Loss) Per Share
	Basic net earnings (loss) per common share is calculated by dividing net earnings (loss) allocable to common stockholders, computed as the sum of net earnings (loss) and accretion on the Company’s redeemable convertible preferred stock, by the weighted-average common shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per share is calculated by adjusting the weighted-average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period. For purposes of the diluted net loss per share calculation, stock options and warrants are considered to be common stock equivalents, but are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive. Therefore, basic and diluted net loss per share applicable to common stockholders was the same for all periods presented.
	Upon closing of the Company’s IPO in February 2014, the Company sold 6,649,690 shares of common stock and issued an additional 9,919,821 shares of common stock in connection with the automatic conversion of its redeemable convertible preferred stock. Additionally, the Company sold an additional 3,300,000 shares of common stock in connection with its public offering in March 2015.
	The following potential common stock equivalents were not included in the calculation of diluted net loss per common share because the inclusion thereof would be antidilutive (in thousands):
		As of March 31,
		2015		2014
	Warrant		71		71
	Outstanding stock options		2,674		2,037
	Total		2,745		2,108

Equity_Financing

Equity Financing	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Financing	12. Equity Financing
	In March 2015, the Company sold 3,300,000 shares of common stock in a public offering at a price to the public of $15.15 per share. The shares included in the Company’s offering were registered under the Securities Act of 1933, as amended, pursuant to a registration statement that the Company filed with the Securities and Exchange Commission on Form S-3 (File No. 333-202451) on March 2, 2015. The Company received aggregate net proceeds of approximately $46.7 million, after deducting the underwriting discounts and offering-related transaction costs.

Subsequent_Event

Subsequent Event	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Event	13. Subsequent Event
	In March 2015, Auspex and Teva Pharmaceutical Industries Ltd., or Teva, announced that they had entered into a definitive merger agreement under which Teva would conduct a tender offer for all of the outstanding shares of Auspex at $101.00 per share in cash, representing total consideration of approximately $3.5 billion in equity value. On May 5, 2015, Teva announced that it had completed the acquisition. As a result, pursuant to the terms of the patent assignment agreement between the Company and Auspex discussed in Note 8, the Company expects to receive a payment within a specified period following the closing date. As a result of the merger, Auspex became a wholly owned subsidiary of Teva.

Basis_of_Presentation_and_Sign1

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals and revisions of estimates, considered necessary for a fair presentation of the condensed consolidated financial statements have been included. Interim results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2015 or any other future period.
	The accompanying condensed consolidated financial statements reflect the accounts of Concert and its subsidiary. All intercompany transactions between the Company and its subsidiary have been eliminated. Management has determined that the Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others. The information included in this quarterly report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC on March 2, 2015.
Use of Estimates and Summary of Significant Accounting Policies	Use of Estimates and Summary of Significant Accounting Policies
	The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that can affect the reported amounts of assets, liabilities, equity, revenue and expenses and the disclosure of contingent assets and liabilities. In preparing the condensed consolidated financial statements, management used estimates in the following areas, among others: revenue recognition for multiple-element revenue arrangements, stock-based compensation expense, accrued expenses and income taxes. Actual results could differ from those estimates.
	There have been no material changes to the significant accounting policies previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2014-09, Revenue from Contracts with Customers (Topic 606), or ASU 2014-09, which stipulates that an entity should recognize revenue 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. To achieve this core principle, ASU 2014-09 provides that an entity should apply the following steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This update will be effective for the Company beginning in the first quarter of fiscal 2017 with early adoption not permitted. The Company is currently assessing the impact of this ASU on its financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern, or ASU 2014-15. ASU 2014-15 amends FASB Accounting Standards Codification 205-40, Presentation of Financial Statements – Going Concern, by providing guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements, including requiring management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements and providing certain disclosures if there is substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 will be effective for the Company’s fiscal 2016 and for interim periods beginning in the first quarter of fiscal 2017. The Company is still evaluating the impact of this ASU on its financial statement disclosures.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Recognized at Fair Value	As of March 31, 2015 and December 31, 2014, the Company’s financial assets and liabilities recognized at fair value consisted of the following:
		Level 1		Level 2		Level 3		Total
	March 31, 2015
	Money market funds, included in cash equivalents	$	62,274	$	—	$	—	$	62,274
	Investments, available for sale:
	U.S. Treasury obligations		5,802		—		—		5,802
	Government agency securities		43,449		—		—		43,449
	Total	$	111,525	$	—	$	—	$	111,525
		Level 1		Level 2		Level 3		Total
	December 31, 2014
	Money market funds, included in cash equivalents	$	11,904	$	—	$	—	$	11,904
	Investments, available for sale:
	U.S. Treasury obligations		12,035		—		—		12,035
	Government agency securities		53,801		—		—		53,801
	Total	$	77,740	$	—	$	—	$	77,740

Cash_Cash_Equivalents_and_Inve1

Cash, Cash Equivalents and Investments, Available for Sale (Tables)	3 Months Ended
	Mar. 31, 2015
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Investments, Available for Sale	Cash, cash equivalents and investments, available for sale included the following at March 31, 2015 and December 31, 2014:
		Average		Amortized		Unrealized			Unrealized			Fair
		maturity		cost		gains			losses			value
	March 31, 2015
	Cash			$	1,542	$	—		$	—		$	1,542
	Money market funds				62,274		—			—			62,274
	Cash and cash equivalents			$	63,816	$	—		$	—		$	63,816
	U.S. Treasury obligations		263 days	$	5,803	$	—		$	(1	)	$	5,802
	Government agency securities		119 days		43,442		7			—			43,449
	Investments, available for sale			$	49,245	$	7		$	(1	)	$	49,251
		Average		Amortized		Unrealized			Unrealized			Fair
		maturity		cost		gains			losses			value
	December 31, 2014
	Cash			$	1,492	$	—		$	—		$	1,492
	Money market funds				11,904		—			—			11,904
	Cash and cash equivalents			$	13,396	$	—		$	—		$	13,396
	U.S. Treasury obligations		171 days	$	12,037	$	(2	)	$	—		$	12,035
	Government agency securities		194 days		53,813		3			(15	)		53,801
	Investments, available for sale			$	65,850	$	1		$	(15	)	$	65,836

Accrued_Expenses_and_Other_Lia1

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following:
		March 31,		December 31,
		2015		2014
	Accrued professional fees and other	$	959	$	916
	Employee compensation and benefits		494		1,606
	Research and development expenses		883		2,104
	Deferred lease incentive, current portion		310		308
	Deferred rent, current portion		58		68
		$	2,704	$	5,002

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense Related to All Stock Based Awards Recognized in Statements of Operations and Comprehensive Loss	Total stock-based compensation expense related to all stock-based awards recognized in the condensed consolidated statements of operations and comprehensive loss consisted of:
			Three Months Ended
			March 31,
			2015			2014
	Research and development		$	325		$	90
	General and administrative			321			120
	Total stock-based compensation expense		$	646		$	210
Estimated Weighted-Average Assumptions of Options Granted	For the three months ended March 31, 2015 and 2014, the fair values of options granted were estimated using the following weighted-average assumptions:
			Three Months Ended March 31,
			2015			2014
	Expected volatility			73.11	%		68.95	%
	Expected term			6.0 years			6.0 years
	Risk-free interest rate			1.54	%		2.02	%
	Expected dividend yield			0	%		0	%
Summary of Stock Option Activity	The following is a summary of stock option activity for the three months ended March 31, 2015:
			Number of			Weighted			Weighted		Aggregate
			Option Shares			Average			Average		Intrinsic
						Exercise			Remaining		Value
						Price per			Contractual
						Share			Term
									(In years)		(In thousands)
	Outstanding at December 31, 2014			2,688,937		$	6.04
	Granted			152,000		$	14.46
	Exercised			(167,412	)	$	1.88
	Outstanding at March 31, 2015			2,673,525		$	6.78			6.88	$	22,380
	Exercisable at March 31, 2015			1,319,996		$	3.75			4.64	$	15,044
	Vested and expected to vest at March 31, 2015 (1)			2,578,853		$	6.65			6.8	$	21,908
	-1	This represents the number of vested stock option shares as of March 31, 2015, plus the number of unvested stock option shares that the Company estimated as of March 31, 2015 would vest, based on the unvested stock option shares at March 31, 2015 and an estimated forfeiture rate of 5%.

Earnings_Loss_Per_Share_Tables

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Common Stock Equivalents Excluded from Calculation of Diluted Loss Per Share	The following potential common stock equivalents were not included in the calculation of diluted net loss per common share because the inclusion thereof would be antidilutive (in thousands):
		As of March 31,
		2015		2014
	Warrant		71		71
	Outstanding stock options		2,674		2,037
	Total		2,745		2,108

Nature_of_Business_Additional_

Nature of Business - Additional Information (Detail) (USD $)	1 Months Ended		3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Feb. 28, 2014	Mar. 31, 2015
Subsidiary, Sale of Stock [Line Items]
Cash and cash equivalents and investments	$113.10		$113.10
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Common stock, issued	3,300,000	6,649,690	3,300,000
Common stock price per share	$15.15		$15.15
Net proceeds of IPO			$46.70

Basis_of_Presentation_and_Sign2

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015
	Segment
Accounting Policies [Abstract]
Number of segments	1

Fair_Value_Measurements_Financ

Fair Value Measurements - Financial Assets and Liabilities Recognized at Fair Value (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, Fair value	$63,816	$13,396
Investments, available for sale	49,251	65,836
Financial assets at fair value	111,525	77,740
Money Market Funds Included in Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, Fair value	62,274	11,904
U.S. Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale	5,802	12,035
Government Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale	43,449	53,801
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets at fair value	111,525	77,740
Level 1 [Member] | Money Market Funds Included in Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, Fair value	62,274	11,904
Level 1 [Member] | U.S. Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale	5,802	12,035
Level 1 [Member] | Government Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale	$43,449	$53,801

Cash_Cash_Equivalents_and_Inve2

Cash, Cash Equivalents and Investments, Available for Sale - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Abstract]
Cash equivalents, liquid investments maturity period	90 days
Realized gains or losses on sales of investments	$0	$0
Other than temporary impairment losses, investments	$0	$0

Cash_Cash_Equivalents_and_Inve3

Cash, Cash Equivalents and Investments, Available for Sale - Cash, Cash Equivalents and Investments, Available for Sale (Detail) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$63,816	$13,396	$39,651	$9,638
Cash and cash equivalents, Fair value	63,816	13,396
Investments, available for sale, Amortized cost	49,245	65,850
Investments, available for sale, Unrealized gains	7	1
Investments, available for sale, Unrealized losses	-1	-15
Investments, available for sale, Fair value	49,251	65,836
U.S. Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, Average maturity	263 days	171 days
Investments, available for sale, Amortized cost	5,803	12,037
Investments, available for sale, Unrealized gains		-2
Investments, available for sale, Unrealized losses	-1
Investments, available for sale, Fair value	5,802	12,035
Government Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, available for sale, Average maturity	119 days	194 days
Investments, available for sale, Amortized cost	43,442	53,813
Investments, available for sale, Unrealized gains	7	3
Investments, available for sale, Unrealized losses		-15
Investments, available for sale, Fair value	43,449	53,801
Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,542	1,492
Cash and cash equivalents, Fair value	1,542	1,492
Money Market Funds Included in Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	62,274	11,904
Cash and cash equivalents, Fair value	$62,274	$11,904

Accrued_Expenses_and_Other_Lia2

Accrued Expenses and Other Liabilities - Accrued Expenses and Other Liabilities (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Payables and Accruals [Abstract]
Accrued professional fees and other	$959	$916
Employee compensation and benefits	494	1,606
Research and development expenses	883	2,104
Deferred lease incentive, current portion	310	308
Deferred rent, current portion	58	68
Accrued expenses and other liabilities	$2,704	$5,002

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income tax provisions or benefits	$0

Collaboration_Agreements_Celge

Collaboration Agreements - Celgene - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended
	Apr. 30, 2013	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	Option
	Licensed_Program
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, current portion		$5,809,000		$5,955,000
Deferred revenue, net of current portion		9,259,000		9,866,000
Celgene [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of additional license program	2
Number of options for providing license program	1
Deferred revenue, current portion		5,700,000
Percentage of royalty on net sales required to pay under the agreement	20.00%
Royalty term	10 years
Arrangement consideration allocated to the License Deliverable, recognition period	39 months
Deferred revenue		12,200,000
Deferred revenue, net of current portion		6,500,000
Celgene [Member] | Non-refundable Upfront Payment Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, payment received	35,000,000
Celgene [Member] | License Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	17,000,000
Celgene [Member] | R&D Services Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	8,700,000
Revenue recognized		600,000	400,000
Celgene [Member] | Supply Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	3,200,000
Revenue recognized		100,000	500,000
Celgene [Member] | Joint Steering Committee Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	100,000
Celgene [Member] | First Discount Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	3,000,000
Celgene [Member] | Second Discount Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	3,000,000
Celgene [Member] | Initial Program [Member] | Phase 1 Clinical Trial [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	8,000,000
Celgene [Member] | If Celgene Exercises its Option With Respect to the Option Program [Member] | Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, current portion	10,000,000
Celgene [Member] | If Celgene Exercises its Rights With Respect to Either of the Two Additional License Programs [Member] | License Exercise Fee [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, current portion	30,000,000
Celgene [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Expiry period of license exercise fee	7 years
Non-refundable upfront payment	35,000,000
Celgene [Member] | Maximum [Member] | Initial Program [Member] | Regulatory Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	247,500,000
Celgene [Member] | Maximum [Member] | Initial Program [Member] | Sales-based Milestone [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	50,000,000
Celgene [Member] | Maximum [Member] | If Celgene Exercises its Option With Respect to the Option Program [Member] | Development Milestone [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	23,000,000
Celgene [Member] | Maximum [Member] | If Celgene Exercises its Option With Respect to the Option Program [Member] | Regulatory Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	247,500,000
Celgene [Member] | Maximum [Member] | One of the Other Additional License Programs [Member] | Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	50,000,000
Celgene [Member] | Maximum [Member] | If Celgene Exercises its Rights With Respect to Either of the Two Additional License Programs [Member] | Development Milestone [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	23,000,000
Celgene [Member] | Maximum [Member] | If Celgene Exercises its Rights With Respect to Either of the Two Additional License Programs [Member] | Regulatory Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	247,500,000
Celgene [Member] | Maximum [Member] | If Celgene Exercises its Rights With Respect to Either of the Two Additional License Programs [Member] | Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	100,000,000
Collaborative Arrangement, Co-promotion [Member] | Celgene [Member] | Maximum [Member] | Initial Program [Member] | Development Milestone [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	23,000,000

Collaboration_Agreements_Jazz_

Collaboration Agreements - Jazz Pharmaceuticals - Additional Information (Detail) (Jazz Pharmaceuticals [Member], USD $)	1 Months Ended	3 Months Ended
	Feb. 28, 2013	Mar. 31, 2015	Mar. 31, 2014
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of royalty on net sales required to pay under the agreement	20.00%
Royalty term	10 years
Arrangement consideration allocated to the License Deliverable, recognition period	46 months
JZP 386 [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	4,000,000
Non-refundable Upfront Payment Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, payment received	4,000,000
License Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	3,700,000
Joint Steering Committee Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	100,000
Patent Support Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	200,000
Development Milestone [Member] | Maximum [Member] | Collaborative Arrangement, Co-promotion [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	8,000,000
Regulatory Milestones [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	35,000,000
Sales-based Milestone [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	70,000,000
Development Support Services [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue recognized		$400,000	$600,000

Collaboration_Agreements_Avani

Collaboration Agreements - Avanir - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended		1 Months Ended
	Feb. 29, 2012	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2012	31-May-12
Avanir Pharmaceuticals [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable		$4,000,000
Percentage of royalty on net sales required to pay under the agreement	20.00%
Royalty term	10 years
Avanir Pharmaceuticals [Member] | Non-refundable Upfront Payment Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, payment received	2,000,000
Avanir Pharmaceuticals [Member] | Reimbursements of Travel and Intellectual Property Expenses [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue recognized		133,000	61,000
Avanir Pharmaceuticals [Member] | Joint Steering Committee Deliverable [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Allocated arrangement consideration	2,000,000
Avanir Pharmaceuticals [Member] | Joint Steering Committee Deliverable [Member] | Non-refundable Upfront Payment Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue recognized				2,000,000
Avanir Pharmaceuticals [Member] | Licensed Products [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	43,000,000
Avanir Pharmaceuticals [Member] | Phase 3 Clinical Trial [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	2,000,000
Avanir Pharmaceuticals [Member] | Phase 3 Clinical Trial [Member] | Development Milestone [Member] | Collaborative Arrangement, Co-promotion [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	2,000,000
Avanir Pharmaceuticals [Member] | Maximum [Member] | Regulatory and Commercial Launch Milestone [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	37,000,000
Avanir Pharmaceuticals [Member] | Maximum [Member] | Sales-based Milestone [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Eligible payments receivable	125,000,000
GSK [Member] | Amendment to GSK Agreement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, payment received					$2,750,000

Patent_Assignment_Additional_I

Patent Assignment - Additional Information (Detail)	1 Months Ended
	Sep. 30, 2011
Goodwill and Intangible Assets Disclosure [Abstract]
Consideration percentage related to change in control subject to acquisition	1.44%

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jan. 01, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expiration terms for grant and vested option	Expire no later than ten years from the date of grant and vest over various periods not exceeding four years.
Weighted-average fair value of options granted	$9.34	$8.79
Intrinsic value of stock options exercised	$2.10	$0.20
Total grant date fair value of stock options that vested during the period	0.4	0.2
Total unrecognized compensation cost related to unvested options	$7.90
Total unrecognized compensation cost related to unvested options, weighted-average recognition period	3 years
2014 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares issued under the plan			729,363
Common stock available for future award grant	1,713,317

Stock_Based_Compensation_Stock

Stock Based Compensation - Stock-Based Compensation Expense Related to All Stock-Based Awards Recognized in Statements of Operations and Comprehensive Loss (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$646	$210
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	325	90
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$321	$120

Stock_Based_Compensation_Estim

Stock Based Compensation - Estimated Weighted-Average Assumptions of Options Granted (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	73.11%	68.95%
Expected term (in years)	6 years	6 years
Risk-free interest rate	1.54%	2.02%
Expected dividend yield	0.00%	0.00%

StockBased_Compensation_Summar

Stock-Based Compensation - Summary of Stock Option Activity (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Number of options
Number of options, Outstanding beginning balance	2,688,937
Number of options, Granted	152,000
Number of options, Exercised	-167,412
Number of options, Outstanding ending balance	2,673,525
Number of options, Exercisable	1,319,996
Number of options, Vested and expected to vest	2,578,853	[1]
Weighted average exercise price per share
Weighted average exercise price per share, Outstanding at beginning of year	$6.04
Weighted average exercise price per share, Granted	$14.46
Weighted average exercise price per share, Exercised	$1.88
Weighted average exercise price per share, Outstanding ending balance	$6.78
Weighted average exercise price per share, Exercisable	$3.75
Weighted average exercise price per share, Vested and expected to vest	$6.65	[1]
Weighted average remaining contractual term (Years)
Weighted average remaining contractual term, Outstanding	6 years 10 months 17 days
Weighted average remaining contractual term, Exercisable	4 years 7 months 21 days
Weighted average remaining contractual term, Vested and expected to vest	6 years 9 months 18 days	[1]
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding	$22,380
Aggregate Intrinsic Value, Exercisable	15,044
Aggregate Intrinsic Value, Vested and expected to vest	$21,908	[1]
[1]	This represents the number of vested stock option shares as of March 31, 2015, plus the number of unvested stock option shares that the Company estimated as of March 31, 2015 would vest, based on the unvested stock option shares at March 31, 2015 and an estimated forfeiture rate of 5%.

StockBased_Compensation_Summar1

Stock-Based Compensation - Summary of Stock Option Activity (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Estimated forfeiture rate	5.00%

Loan_Payable_Additional_Inform

Loan Payable - Additional Information (Detail) (USD $)	0 Months Ended		3 Months Ended
	Mar. 29, 2012	Dec. 22, 2011	Mar. 31, 2015	Dec. 22, 2011
		Tranches	MonthlyInstallments
Debt Instrument [Line Items]
Aggregate advance provided under the agreement		$20,000,000		$20,000,000
Number of tranches		2
Loan issuance cost paid to lenders	200,000
Debt instrument, annum interest rate			8.50%
Debt instrument, description of interest rate			Each advance made under the Loan and Security Agreement bears interest at a variable rate of the greater of 8.5% and an amount equal to 8.5% plus the prime rate of interest minus 5.25%, provided however, that the per annum interest rate shall not exceed 11%. Through March 31, 2015, each of the December 2011 Advance and the March 2012 Advance had an interest rate of 8.5%.
Debt instrument maturity date, start date			1-May-13
Debt instrument maturity date, end date			1-Oct-15
Debt instrument, number of equal monthly installments			30
Aggregate Future minimum payments due under the Loan and Security Agreement for the remainder of 2014			5,200,000
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, annum interest rate			11.00%
Prime Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate			8.50%
First Tranche [Member]
Debt Instrument [Line Items]
Advance made under the tranche		7,500,000
Second Tranche [Member]
Debt Instrument [Line Items]
Advance made under the tranche	$12,500,000

Earnings_Loss_Per_Share_Additi

Earnings (Loss) Per Share - Additional Information (Detail)	1 Months Ended		3 Months Ended
	Mar. 31, 2015	Feb. 28, 2014	Mar. 31, 2015
Common Stock [Member]
Conversion of Stock [Line Items]
Conversion of preferred stock into shares of common stock		9,919,821
IPO [Member]
Conversion of Stock [Line Items]
Common stock, issued	3,300,000	6,649,690	3,300,000

Earnings_Loss_Per_Share_Common

Earnings (Loss) Per Share - Common Stock Equivalents Excluded from Calculation of Diluted Loss Per Share (Detail)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents excluded from computation of earning per share	2,745	2,108
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents excluded from computation of earning per share	71	71
Outstanding Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents excluded from computation of earning per share	2,674	2,037

Equity_Financings_Additional_I

Equity Financings - Additional Information (Detail) (IPO [Member], USD $)	1 Months Ended		3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Feb. 28, 2014	Mar. 31, 2015
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of number of common stock	3,300,000	6,649,690	3,300,000
Common stock offering price	$15.15		$15.15
Net proceeds on sale of common stock transaction			$46.70

Subsequent_Event_Additional_In

Subsequent Event - Additional Information (Detail) (Teva Pharmaceutical Industries Ltd. [Member], USD $)	1 Months Ended	3 Months Ended
In Billions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015
Teva Pharmaceutical Industries Ltd. [Member]
Subsequent Event [Line Items]
Merger agreement, price per share	$101	$101
Merger agreement, equity value	$3.50
Acquisition completion date		5-May-15