Kubota Pharmaceutical (KBBTF) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 27, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ACUCELA INC.
Entity Central Index Key	1,400,482
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		37,445,276

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 7,720	$ 5,088
Investments	116,224	106,922
Accounts receivable from collaborations	1,510	6,140
Prepaid expenses and other current assets	2,544	2,051
Total current assets	127,998	120,201
Property and equipment, net	846	920
Long-term investments	39,660	54,515
Other assets	314	314
Total assets	168,818	175,950
Current liabilities:
Accounts payable	1,078	207
Accrued liabilities	3,268	3,138
Accrued compensation	1,590	2,457
Deferred revenue from collaborations	650	2,467
Deferred rent and lease incentives	151	143
Total current liabilities	$ 6,737	$ 8,412
Commitments and contingencies
Long-term deferred rent, lease incentives, and others	$ 1,061	$ 1,104
Total long-term liabilities	1,061	1,104
Shareholders’ equity:
Common stock, no par value, 100,000 shares authorized as of March 31, 2016 and December 31, 2015; 37,390 and 36,517 shares issued and outstanding as of March 31, 2016 and December 31, 2015	201,849	191,696
Additional paid-in capital	2,873	6,288
Accumulated other comprehensive loss	(136)	(575)
Accumulated deficit	(43,566)	(30,975)
Total shareholders’ equity	161,020	166,434
Total liabilities and shareholders’ equity	$ 168,818	$ 175,950

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Mar. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	37,390,000	36,517,000
Common stock, shares outstanding	37,390,000	36,517,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenue from collaborations	$ 3,756	$ 7,215
Expenses:
Research and development	8,919	5,866
General and administrative	7,780	5,508
Total expenses	16,699	11,374
Loss from operations	(12,943)	(4,159)
Other income (expense), net:
Interest income	351	238
Other income (expense), net	18	(19)
Total other income, net	369	219
Loss before income tax	(12,574)	(3,940)
Income tax benefit (expense)	(17)	0
Net loss	$ (12,591)	$ (3,940)
Net loss per share
Basic (in dollars per share)	$ (0.34)	$ (0.11)
Diluted (in dollars per share)	$ (0.34)	$ (0.11)
Weighted average shares
Basic (shares)	36,891	35,809
Diluted (shares)	36,891	35,809

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (12,591)	$ (3,940)
Other comprehensive income (loss):
Net unrealized gain on securities, net of tax	439	284
Comprehensive loss	$ (12,152)	$ (3,656)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities
Net loss	$ (12,591)	$ (3,940)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	76	120
Stock-based compensation	2,705	342
Amortization net of premium/discount on marketable securities	434	561
Deferred taxes	0	103
Changes in operating assets and liabilities:
Accounts receivable from collaborations	4,630	373
Prepaid expenses and other current assets	(184)	39
Accounts payable	871	569
Accrued liabilities	130	1,211
Accrued compensation	(867)	(268)
Deferred rent and lease incentives	(35)	1,243
Deferred revenue from collaborations	(1,817)	(820)
Net cash used in by operating activities	(6,648)	(467)
Cash flows from investing activities
Purchases of marketable securities available for sale	(21,658)	(22,541)
Maturities of marketable securities available for sale	27,196	23,020
Net additions to property and equipment	(2)	(370)
Net cash provided by investing activities	5,536	109
Cash flows from financing activities
Equity awards withheld for tax liability	(4,571)	0
Proceeds from issuance of common stock	8,315	2
Net cash provided by financing activities	3,744	2
Increase (decrease) in cash and cash equivalents	2,632	(356)
Cash and cash equivalents—beginning of period	5,088	18,778
Cash and cash equivalents—end of period	$ 7,720	$ 18,422

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Business Acucela Inc. and its subsidiaries (the “Company”, “we,” “our” and “us”) are clinical stage ophthalmology companies that specialize in identifying and developing novel therapeutics to treat and slow the progression of sight-threatening ophthalmic diseases affecting millions of people worldwide. In 2008, we and Otsuka Pharmaceutical Co., Ltd., or Otsuka, entered into a definitive agreement to co-develop Emixustat hydrochloride, or Emixustat, our lead investigational compound, which is currently being evaluated in a Phase 2b/3 clinical trial in subjects with geographic atrophy secondary with dry age-related macular degeneration, or AMD. Proposed Redomicile Transaction In March 2016, we announced our intention to pursue a corporate reorganization of the Company by conducting a triangular merger, or the Triangular Merger, pursuant to which the ultimate parent company holding the operations of the Company would be domiciled in Japan. Such transaction is referred to as the Redomicile Transaction. If consummated, the Redomicile Transaction would result in the Company’s shareholders holding shares in Acucela Japan KK, or Acucela Japan, a Japanese joint stock corporation and the Company’s wholly-owned subsidiary. Consummation of the Redomicile Transaction would be subject to several conditions, including the approval of the Redomicile Transaction by a majority of the Company’s common stock shareholders entitled to vote on the Redomicile Transaction at the Company’s forthcoming annual meeting; the registration with the U.S. Securities and Exchange Commission, or SEC, of the shares of Acucela Japan to be distributed in the Redomicile Transaction; and, that the shares of Acucela Japan to be distributed in the Redomicile Transaction are authorized for listing on the Tokyo Stock Exchange, or TSE. Should the Redomicile Transaction be consummated, the Company would merge with and into Acucela North America Inc., or US Merger Co, a Washington corporation and wholly-owned subsidiary of Acucela Japan. US Merger Co would continue as the surviving corporation. In connection with the Redomicile Transaction, Acucela Japan, the new parent, intends to apply for listing on the Mothers market of the TSE. We expect to complete the Redomicile Transaction during the second half of 2016. There is no assurance that we will be able to complete the Redomicile Transaction in a timely manner, if at all, or achieve the expected benefits we expect to see. Please refer to the Registration Statement on Form S-4 (Registration No. 333-210469) filed by Acucela Japan KK on March 30, 2016 for further details regarding the Redomicile Transaction. Basis of Presentation Unaudited Interim Financial Information We have prepared the accompanying consolidated financial statements pursuant to the rules and regulations of the SEC for interim financial reporting. These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our balance sheets, operating results, and cash flows for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for full 2016 fiscal year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States, or GAAP, have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our 2015 Annual Report on Form 10-K. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Acucela Japan KK, which was organized under the laws of Japan on December 11, 2015. Through the period ended March 31, 2016 , Acucela Japan KK has not commenced operations. We eliminate all intercompany balances and transactions in consolidation. Presentation of the cash flow Prior year presentation of cash flows includes a re-classification to conform with the current year presentation of purchased interest on marketable securities. Use of Estimates The preparation of financial statements in conformity with GAAP 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. Segments We operate in one segment, pharmaceutical product development. All of our significant assets are located in the United States. During the three months ended March 31, 2016 and 2015 , all revenue was generated in the United States.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Cash and Cash Equivalents and Investments We consider investments in highly liquid instruments purchased with an original maturity at purchase of three months or less to be cash equivalents. The amounts are recorded at cost, which approximates fair value. Our cash equivalents consist of cash and money market funds. We have classified our entire investment portfolio, which consists of corporate debt securities, commercial paper and certificates of deposit, as available-for-sale. Available-for-sale securities are stated at fair value as of each balance sheet date based on market quotes, and unrealized gains and losses are reflected as a net amount under the caption of accumulated other comprehensive loss. Premiums or discounts arising at acquisition are amortized into earnings. We periodically evaluate whether declines in fair values of our investments below their cost are other-than-temporary. This evaluation consists of several qualitative and quantitative factors regarding the severity and duration of the unrealized loss, as well as whether it is more likely than not that we will hold the investment until recovery of its amortized cost basis. Realized gains and losses are calculated using the specific identification method. Realized gains and losses and declines in value judged to be other-than-temporary are recorded within the statements of income under the caption other income (expense). We consider an investment with a maturity greater than 12 months from the balance sheet date as long-term and with a maturity less than 12 months from the balance sheet date as short-term. Concentration of Credit Risk Our accounts receivable, as of March 31, 2016 and December 31, 2015, consist of amounts due from our collaborations with Otsuka. There was no allowance for doubtful accounts for the periods presented, as we believe all outstanding amounts will be paid based on our contractual arrangements with Otsuka and history of successful collections thereunder and collateral is not required. Revenue recognized for the three months ended March 31, 2016 and 2015 consist of amounts derived from our collaboration agreements with Otsuka. Fair Value We measure and report at fair value our cash equivalents and investment securities. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, an exit price, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The carrying amounts reflected in the balance sheets for accounts receivable and accounts payable approximate fair value due to their short-term nature. Stock-Based Compensation Stock-based compensation cost is estimated at the grant date based on the award’s fair value and is recognized on a straight line basis as expense, less estimated forfeitures, over the requisite service period, which is generally the vesting period. The fair value of stock options under our equity-based incentive plans, or the Equity Plans, are calculated using the Black-Scholes option pricing model. This model requires us to make assumptions to determine expected risk-free interest rates, stock price volatility, dividend yield, and weighted-average option term. We recognize stock-based compensation expense over the period from the date of grant to the date when the award is no longer contingent on either the employee providing additional services to the Company or the market price of the Company’s common stock reaching a certain level, for a specified minimum period of time (the vesting period). Any unexercised options expire in ten years. We estimate the fair value of each grant as a single award and amortize that value on a straight-line basis into compensation expense over the option’s vesting period. The fair value of restricted stock units and restricted stock awards is equal to the market price of Acucela's stock on the date of grant. We amortize that value on a straight line basis into compensation expense, over the restricted share’s vesting period. Research and Development Costs Research and development costs include salaries paid to clinical development staff and scientists, fees paid to external service providers and to contract research organizations to conduct research and development activities. Costs may also include laboratory supplies, license fees, consulting, travel, fees paid to third parties involved in research and development activities, and an allocated portion of certain general and administrative costs. These research and development costs are expensed as incurred. Non-refundable advance payments for goods or services with characteristics that will be used or rendered for future research and development activities, pursuant to an executor contractual arrangement, are deferred and capitalized, assuming the straight-line method. Capitalized research and development activities are evaluated each reporting period, to assess recoverability of the asset. Income Taxes We recognize deferred tax assets and liabilities for the expected future tax consequences of events that have already been recognized in the financial statements or tax returns. Excess tax benefits associated with stock option exercises and other equity awards are credited to shareholders' equity. Deferred tax liabilities and assets are based on the difference between financial statement carrying amounts and the tax basis of assets and liabilities, operating loss, and tax credit carryforwards and are measured using enacted tax rates expected to be in effect in the years the differences or carryforwards are anticipated to be recovered or settled. A valuation allowance is established when we believe that it is more likely than not that benefits of the deferred tax assets will not be realized.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers: Topic 606 (ASU 2014-09), to supersede nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Adoption of ASU 2014-09 was initially required for fiscal and interim reporting periods beginning after December 15, 2016 using either of two methods: (i) retrospective to each prior reporting period presented with the option to elect certain practical expedients as defined within ASU 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASU 2014-09. In August 2015, FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date: Topic 606 (ASU 2015-14) that deferred the effective date of ASU 2014-09 by one year. Application of the new revenue standard is permitted for fiscal and interim reporting periods beginning after December 15, 2016 and required for fiscal and interim reporting periods beginning after December 15, 2017. We are currently evaluating the potential impact of the pending adoption of ASU 2014-09 on our consolidated financial statements. In November 2015, FASB issued Accounting Standards Update No. 2015-17, Balance Sheet Classification of Deferred Taxes: Topic 740 (ASU 2015-17). Current GAAP requires the deferred taxes for each jurisdiction to be presented as a net current asset or liability and net noncurrent asset or liability. This requires a jurisdiction-by-jurisdiction analysis based on the classification of the assets and liabilities to which the underlying temporary differences relate, or, in the case of loss or credit carryforwards, based on the period in which the attribute is expected to be realized. Any valuation allowance is then required to be allocated on a pro rata basis, by jurisdiction, between current and noncurrent deferred tax assets. The new guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. As a result, each jurisdiction will now only have one net noncurrent deferred tax asset or liability. The guidance does not change the existing requirement that only permits offsetting within a jurisdiction. Adoption of ASU 2015-17 is required for fiscal reporting periods beginning after December 15, 2016, including interim reporting periods within those fiscal years, and either prospective or retrospective application is permitted. Early adoption of ASU 2015-17 is permitted. At the time of adoption, all of our deferred tax assets and liabilities, along with any related valuation allowance, will be classified as noncurrent on its Consolidated Balance Sheet. We do not plan to early adopt ASU 2015-17. In February 2016, FASB issued Accounting Standards Update No. 2016-02, Leases: Topic 842 (ASU 2016-02). The new guidance is intended to increase transparency and comparability for organizations by recognizing lease assets and liabilities on the balance sheet and requiring additional financial disclosure on leasing arrangements. This amendment is primarily designed to address lessee accounting for operating leases and require lessees to account for all leases as assets and liabilities on the balance sheet. Adoption of ASU 2016-02 is required for fiscal reporting periods beginning after December 15, 2018 including interim reporting periods within those fiscal years. We are currently evaluating the potential impact of the pending adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, FASB issued Accounting Standards Update No. 2016-09, Compensation - Stock Compensation: Topic 718 (ASU 2016-09): Improvements to Employee Share Based Accounting. The new guidance is intended to simplify the accounting for share based payment award transactions. The amendments in the update include the following aspects for share based accounting: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, minimum statutory tax withholding requirements, and classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes. Adoption of ASU 2016-09 is required for fiscal reporting periods beginning after December 15, 2016 including interim reporting periods within those fiscal years. We are currently evaluating the potential impact of the pending adoption of ASU 2016-09 on our consolidated financial statements. Other than noted above, we do not expect the adoption of recently issued accounting pronouncements to have a significant impact on our results of operations, financial position or cash flow.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Under FASB Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: Level 1—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, and Level 3—Unobservable inputs in which there is little or no market data available, which requires us to develop our own assumptions. Cash, cash equivalents and investments at March 31, 2016 and December 31, 2015 include all cash, money market funds, corporate debt securities, commercial paper and certificates of deposit. We measure the fair value of money market funds based on quoted prices in active markets for identical assets or liabilities. We consider our investments in corporate debt securities, commercial paper and certificates of deposit as available-for-sale. Available-for-sale securities are stated at fair value. Available for sale securities were valued either based on recent trades in inactive markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data. We did not hold any financial instruments categorized as Level 3 as of March 31, 2016 or December 31, 2015 . The following table presents information about our financial assets that have been measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 , and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): March 31, 2016 Amortized Cost Gross Unrealized Fair Value Holding Gains Holding Losses < 12 mos Holding Losses > 12 mos Cash $ 3,060 $ — $ — $ — $ 3,060 Level 1 Securities: Money market funds 4,660 — — — 4,660 Level 2 Securities: Commercial Paper 4,469 3 — — 4,472 U.S. government agencies 16,860 4 (2 ) — 16,862 Corporate debt securities 129,651 41 (137 ) (51 ) 129,504 Certificates of deposit 5,040 6 — — 5,046 $ 163,740 $ 54 $ (139 ) $ (51 ) $ 163,604 December 31, 2015 Amortized Cost Gross Unrealized Fair Value Holding Gains Holding Losses < 12 mos Holding Losses > 12 mos Cash $ 3,856 $ — $ — $ — $ 3,856 Level 1 Securities: Money market funds 1,232 — — — 1,232 Level 2 Securities: U.S. government agencies 10,020 — (37 ) — 9,983 Corporate debt securities 144,352 — (435 ) (96 ) 143,821 Certificates of deposit 7,640 1 (7 ) (1 ) 7,633 $ 167,100 $ 1 $ (479 ) $ (97 ) $ 166,525 As of March 31, 2016 , $1.4 million of certificates of deposit, $23.0 million of corporate debt securities and $15.3 million of U.S. government agencies mature in greater than one year, but less than two years. All other investment securities held as of March 31, 2016 mature within 12 months. We do not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of our amortized cost basis, which may be maturity. Market values were determined for each individual security in the investment portfolio. The declines in value of certain of these investments are primarily related to changes in interest rates and are considered to be temporary in nature. We evaluate, among other things, the duration and extent to which the fair value of a security is less than its cost, the financial condition of the issuer, and our intent to sell, or whether it is more likely than not we will be required to sell the security before recovery of the amortized cost basis. We do not consider these investments to be other-than-temporarily impaired as of March 31, 2016 .

Shareholders_ Equity and Share-

Shareholders’ Equity and Share-Based Compensation	3 Months Ended
	Mar. 31, 2016
Shareholders’ Equity and Share-Based Compensation [Abstract]
Shareholders’ Equity and Share-Based Compensation	Shareholders’ Equity and Share-Based Compensation Changes in Accumulated Other Comprehensive Loss (in thousands): Three months ended March 31, 2016 2015 Beginning balance $ (575 ) $ (361 ) Current period other comprehensive gain, net of tax 439 284 Ending balance $ (136 ) $ (77 ) The changes in accumulated other comprehensive loss relate to unrealized holding gains and losses in available-for-sale securities. Equity Awards On January 6, 2016, an additional 1,460,684 shares were reserved for issuance under the evergreen provision of the 2014 Equity Incentive Plan, as amended. On January 21, 2016, the Board approved the grant of options to purchase an aggregate of 900,000 shares of common stock, including options to purchase an aggregate of 780,000 shares to Dr. Kubota, our CEO, and options to purchase 30,000 shares to each of the four non-employee directors of the Board. The contractual life of the options is ten years except for Dr. Kubota's incentive stock option grant, which is five years. The grant to Dr. Kubota included an option to purchase 390,000 shares of common stock that will vest over a three -year period, with 33% vesting after one year and 67% vesting monthly thereafter. Dr. Kubota was also granted an option to purchase an aggregate of 390,000 shares of common stock that are market-based awards. This option grant will vest incrementally based on the closing market price of the Company's shares of common stock on the Tokyo Stock Exchange with 33% vesting upon the stock trading for 30 consecutive calendar days at a price of ¥1,102 or higher, 33% vesting upon the stock trading for 30 consecutive calendar days at a price of ¥ 1,470 or higher, and the remaining unvested balance vesting upon the stock trading for 30 consecutive calendar days at a price of ¥1,837 or higher. As of March 31, 2016 , the market-based awards met their closing target prices and became fully vested, which attributed to a $2.0 million increase in stock compensation expense. The option grants to non-employee board members vest in equal monthly installments over four years from the vesting commencement date of May 1, 2015, when they were elected to the Board. On February 9, 2016, the Board approved the grant of options to purchase an aggregate of 37,800 shares to new employees. The grants are subject to a four year vesting period, with 25% of the underlying shares vesting after one year and the remaining 75% of the underlying shares vesting on a monthly pro rata basis over the ensuing three years, with the options fully vesting four years from the grant date. Vesting of Restricted Stock Units During the three months ended March 31, 2016 , employees subject to the Change in Control Agreements became vested in 229,707 shares of restricted stock units.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Due to our continuing losses, we had an effective tax rate of 0% for the three months ended March 31, 2016 and 2015 , which differed from the U.S. federal statutory tax rate of 34% , due to a full valuation allowance against our deferred tax assets.

Collaboration and License Agree

Collaboration and License Agreements	3 Months Ended
	Mar. 31, 2016
Revenue Recognition [Abstract]
Collaboration and License Agreements	Collaboration and License Agreements Collaboration with Otsuka During the three months ended March 31, 2016 and 2015 , we recognized $3.8 million and $7.2 million , respectively, of revenues in performance of our collaborative co-development agreement with Otsuka. The Company’s collaboration arrangements with Otsuka require the continuing involvement of our President and Chief Executive Officer, Dr. Ryo Kubota. In the event of the departure of Dr. Kubota from the Company or a change in his role or responsibilities with the Company, the arrangements are subject to termination, at the option of Otsuka. For each agreement, this provision expires upon the approval of the New Drug Application, or NDA, for the first indication in the United States. Option and License Agreement with YouHealth Eyetech, Inc. In March 2016, we entered into an exclusive option and license agreement with YouHealth. YouHealth’s parent company, Guangzhou Kang Rui Biological Pharmaceutical Technology Co., Ltd., is a party to the agreement as a guarantor of YouHealth’s performance of its obligations. Pursuant to the terms of the agreement, YouHealth granted us an option to obtain a royalty-bearing license, with the right to sub-license, certain YouHealth technology to develop and commercialize products containing lanosterol for the treatment of ophthalmological diseases in all territories excluding the People’s Republic of China, Taiwan and Hong Kong. Such excluded territories are referred to as the YouHealth Territory. We may exercise the option at any time before June 30, 2019, the option period, by providing written notice to YouHealth and a payment of $10.0 million. During the option period, we granted YouHealth an exclusive, royalty-free, fully-paid license, without the right to sub-license, certain of our technology to develop products containing lanosterol in the YouHealth Territory. If we choose to exercise this option, the license granted by us to YouHealth will then permit sub-licensing and commercialization of products containing lanosterol by YouHealth in the YouHealth Territory. Pursuant to the terms of the agreement, we paid a one-time upfront fee of $5.0 million to YouHealth during the first quarter of 2016. During the option period, YouHealth is eligible to receive up to an additional $5.0 million upon the achievement of certain near-term development and regulatory milestones establishing proof of concept. Upon our exercise of the option, YouHealth would then be eligible to receive up to an additional $300.0 million upon our achievement of certain regulatory milestones, such as initiation of Phase 3 clinical trials and approvals of new drug applications across multiple indications. YouHealth would be eligible to receive up to an additional $90.0 million upon our achievement of certain post-approval sales-based milestones. In addition to these potential one-time payments, YouHealth is eligible to receive a mid single-digit percentage of annual net sales, which may increase to a higher mid single-digit percentage if certain annual net sales figures are exceeded. Royalties would be payable on a product-by-product and country-by-country basis until the later of ten years from the date of first commercial sale in a particular country or the expiration of the last-to-expire valid claim of certain YouHealth patents covering the products. In the event no valid patent claim covers the Product, the royalty percentage would be subject to a 50% reduction in payment. In addition, the royalty may terminate at any time generic competition occurs. Pursuant to the terms of the agreement, each party will be solely responsible for the development, manufacture and commercialization of Products in its respective territory, compliance with applicable regulatory requirements and related expenses. We agreed to use diligent efforts to achieve certain milestones applicable to an existing license between YouHealth and the Regents of the University of California. The license between YouHealth and the Regents of the University of California comprises part of the technology made available to us through this agreement. Unless earlier terminated by the parties, our agreement with YouHealth expires on June 30, 2019, if we have not exercised our option or, if we do exercise our option, then upon the last to expire royalty term for any commercialized product. Either party may terminate the agreement upon the other party’s material breach, after provision of written notice and an opportunity to cure such breach. We have the right to terminate the agreement for any reason at any time upon 60 days prior written notice to YouHealth. If we decline to exercise the option, YouHealth would have the right of first negotiation to obtain an exclusive, worldwide license, with right to sub-license, under certain of our patents, to develop and commercialize products for the treatment of ophthalmic diseases.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net income (loss) per share is calculated by dividing net income by the weighted average number of shares outstanding for the period. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of the common stock outstanding and other dilutive securities outstanding during the period. The potential dilutive shares of our common stock include the exercise of outstanding stock options that are dilutive and restricted stock units. For the three months ended March 31, 2016 , equity awards with an aggregate of 1,306,947 shares were excluded from the calculation of diluted net loss per share because the impact was anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments In addition to the contractual commitments, which consist of operating leases for corporate office and laboratory space, disclosed in our Annual Report on Form 10-K for the year ended December 31, 2015, we have not incurred any additional material contractual obligations or commitments outside of the normal course of business. Litigation From time to time, we may be subject to legal proceedings and claims in the ordinary course of business. We are not currently a party to any material legal proceedings, and to our knowledge none is threatened. There can be no assurance that future legal proceedings arising in the ordinary course of business or otherwise will not have a material adverse effect on our financial position, results of operations or cash flows.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In April 2016, we announced our execution of an exclusive license agreement with the University of Manchester, or UoM, whereby we will develop and commercialize UoM’s human rhodopsin-based optogenetic gene therapy for the treatment of retinal degenerative disease, including retinitis pigmentosa. We paid a non-refundable fee of $0.2 million in connection with the execution of the agreement, which will be expensed during the second quarter.

Significant Accounting Polici17

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	We have prepared the accompanying consolidated financial statements pursuant to the rules and regulations of the SEC for interim financial reporting. These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our balance sheets, operating results, and cash flows for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for full 2016 fiscal year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States, or GAAP, have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our 2015 Annual Report on Form 10-K. Prior year presentation of cash flows includes a re-classification to conform with the current year presentation of purchased interest on marketable securities.
Principles of Consolidation	The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Acucela Japan KK, which was organized under the laws of Japan on December 11, 2015. Through the period ended March 31, 2016 , Acucela Japan KK has not commenced operations. We eliminate all intercompany balances and transactions in consolidation.
Use of Estimates	The preparation of financial statements in conformity with GAAP 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.
Segments	We operate in one segment, pharmaceutical product development. All of our significant assets are located in the United States. During the three months ended March 31, 2016 and 2015 , all revenue was generated in the United States.
Cash and Cash Equivalents	We consider investments in highly liquid instruments purchased with an original maturity at purchase of three months or less to be cash equivalents. The amounts are recorded at cost, which approximates fair value. Our cash equivalents consist of cash and money market funds.
Investments	We have classified our entire investment portfolio, which consists of corporate debt securities, commercial paper and certificates of deposit, as available-for-sale. Available-for-sale securities are stated at fair value as of each balance sheet date based on market quotes, and unrealized gains and losses are reflected as a net amount under the caption of accumulated other comprehensive loss. Premiums or discounts arising at acquisition are amortized into earnings. We periodically evaluate whether declines in fair values of our investments below their cost are other-than-temporary. This evaluation consists of several qualitative and quantitative factors regarding the severity and duration of the unrealized loss, as well as whether it is more likely than not that we will hold the investment until recovery of its amortized cost basis. Realized gains and losses are calculated using the specific identification method. Realized gains and losses and declines in value judged to be other-than-temporary are recorded within the statements of income under the caption other income (expense). We consider an investment with a maturity greater than 12 months from the balance sheet date as long-term and with a maturity less than 12 months from the balance sheet date as short-term.
Concentration of Credit Risk	Our accounts receivable, as of March 31, 2016 and December 31, 2015, consist of amounts due from our collaborations with Otsuka. There was no allowance for doubtful accounts for the periods presented, as we believe all outstanding amounts will be paid based on our contractual arrangements with Otsuka and history of successful collections thereunder and collateral is not required. Revenue recognized for the three months ended March 31, 2016 and 2015 consist of amounts derived from our collaboration agreements with Otsuka.
Fair Value	We measure and report at fair value our cash equivalents and investment securities. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, an exit price, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The carrying amounts reflected in the balance sheets for accounts receivable and accounts payable approximate fair value due to their short-term nature.
Stock-Based Compensation	Stock-based compensation cost is estimated at the grant date based on the award’s fair value and is recognized on a straight line basis as expense, less estimated forfeitures, over the requisite service period, which is generally the vesting period. The fair value of stock options under our equity-based incentive plans, or the Equity Plans, are calculated using the Black-Scholes option pricing model. This model requires us to make assumptions to determine expected risk-free interest rates, stock price volatility, dividend yield, and weighted-average option term. We recognize stock-based compensation expense over the period from the date of grant to the date when the award is no longer contingent on either the employee providing additional services to the Company or the market price of the Company’s common stock reaching a certain level, for a specified minimum period of time (the vesting period). Any unexercised options expire in ten years. We estimate the fair value of each grant as a single award and amortize that value on a straight-line basis into compensation expense over the option’s vesting period. The fair value of restricted stock units and restricted stock awards is equal to the market price of Acucela's stock on the date of grant. We amortize that value on a straight line basis into compensation expense, over the restricted share’s vesting period.
Research and Development Costs	Research and development costs include salaries paid to clinical development staff and scientists, fees paid to external service providers and to contract research organizations to conduct research and development activities. Costs may also include laboratory supplies, license fees, consulting, travel, fees paid to third parties involved in research and development activities, and an allocated portion of certain general and administrative costs. These research and development costs are expensed as incurred. Non-refundable advance payments for goods or services with characteristics that will be used or rendered for future research and development activities, pursuant to an executor contractual arrangement, are deferred and capitalized, assuming the straight-line method. Capitalized research and development activities are evaluated each reporting period, to assess recoverability of the asset.
Income Taxes	We recognize deferred tax assets and liabilities for the expected future tax consequences of events that have already been recognized in the financial statements or tax returns. Excess tax benefits associated with stock option exercises and other equity awards are credited to shareholders' equity. Deferred tax liabilities and assets are based on the difference between financial statement carrying amounts and the tax basis of assets and liabilities, operating loss, and tax credit carryforwards and are measured using enacted tax rates expected to be in effect in the years the differences or carryforwards are anticipated to be recovered or settled. A valuation allowance is established when we believe that it is more likely than not that benefits of the deferred tax assets will not be realized.
Recent Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers: Topic 606 (ASU 2014-09), to supersede nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Adoption of ASU 2014-09 was initially required for fiscal and interim reporting periods beginning after December 15, 2016 using either of two methods: (i) retrospective to each prior reporting period presented with the option to elect certain practical expedients as defined within ASU 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASU 2014-09. In August 2015, FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date: Topic 606 (ASU 2015-14) that deferred the effective date of ASU 2014-09 by one year. Application of the new revenue standard is permitted for fiscal and interim reporting periods beginning after December 15, 2016 and required for fiscal and interim reporting periods beginning after December 15, 2017. We are currently evaluating the potential impact of the pending adoption of ASU 2014-09 on our consolidated financial statements. In November 2015, FASB issued Accounting Standards Update No. 2015-17, Balance Sheet Classification of Deferred Taxes: Topic 740 (ASU 2015-17). Current GAAP requires the deferred taxes for each jurisdiction to be presented as a net current asset or liability and net noncurrent asset or liability. This requires a jurisdiction-by-jurisdiction analysis based on the classification of the assets and liabilities to which the underlying temporary differences relate, or, in the case of loss or credit carryforwards, based on the period in which the attribute is expected to be realized. Any valuation allowance is then required to be allocated on a pro rata basis, by jurisdiction, between current and noncurrent deferred tax assets. The new guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. As a result, each jurisdiction will now only have one net noncurrent deferred tax asset or liability. The guidance does not change the existing requirement that only permits offsetting within a jurisdiction. Adoption of ASU 2015-17 is required for fiscal reporting periods beginning after December 15, 2016, including interim reporting periods within those fiscal years, and either prospective or retrospective application is permitted. Early adoption of ASU 2015-17 is permitted. At the time of adoption, all of our deferred tax assets and liabilities, along with any related valuation allowance, will be classified as noncurrent on its Consolidated Balance Sheet. We do not plan to early adopt ASU 2015-17. In February 2016, FASB issued Accounting Standards Update No. 2016-02, Leases: Topic 842 (ASU 2016-02). The new guidance is intended to increase transparency and comparability for organizations by recognizing lease assets and liabilities on the balance sheet and requiring additional financial disclosure on leasing arrangements. This amendment is primarily designed to address lessee accounting for operating leases and require lessees to account for all leases as assets and liabilities on the balance sheet. Adoption of ASU 2016-02 is required for fiscal reporting periods beginning after December 15, 2018 including interim reporting periods within those fiscal years. We are currently evaluating the potential impact of the pending adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, FASB issued Accounting Standards Update No. 2016-09, Compensation - Stock Compensation: Topic 718 (ASU 2016-09): Improvements to Employee Share Based Accounting. The new guidance is intended to simplify the accounting for share based payment award transactions. The amendments in the update include the following aspects for share based accounting: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, minimum statutory tax withholding requirements, and classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes. Adoption of ASU 2016-09 is required for fiscal reporting periods beginning after December 15, 2016 including interim reporting periods within those fiscal years. We are currently evaluating the potential impact of the pending adoption of ASU 2016-09 on our consolidated financial statements. Other than noted above, we do not expect the adoption of recently issued accounting pronouncements to have a significant impact on our results of operations, financial position or cash flow.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Cash and Cash Equivalents and Investments	The following table presents information about our financial assets that have been measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 , and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): March 31, 2016 Amortized Cost Gross Unrealized Fair Value Holding Gains Holding Losses < 12 mos Holding Losses > 12 mos Cash $ 3,060 $ — $ — $ — $ 3,060 Level 1 Securities: Money market funds 4,660 — — — 4,660 Level 2 Securities: Commercial Paper 4,469 3 — — 4,472 U.S. government agencies 16,860 4 (2 ) — 16,862 Corporate debt securities 129,651 41 (137 ) (51 ) 129,504 Certificates of deposit 5,040 6 — — 5,046 $ 163,740 $ 54 $ (139 ) $ (51 ) $ 163,604 December 31, 2015 Amortized Cost Gross Unrealized Fair Value Holding Gains Holding Losses < 12 mos Holding Losses > 12 mos Cash $ 3,856 $ — $ — $ — $ 3,856 Level 1 Securities: Money market funds 1,232 — — — 1,232 Level 2 Securities: U.S. government agencies 10,020 — (37 ) — 9,983 Corporate debt securities 144,352 — (435 ) (96 ) 143,821 Certificates of deposit 7,640 1 (7 ) (1 ) 7,633 $ 167,100 $ 1 $ (479 ) $ (97 ) $ 166,525

Shareholders_ Equity and Shar19

Shareholders’ Equity and Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Shareholders’ Equity and Share-Based Compensation [Abstract]
Changes in Accumulated Other Comprehensive Loss	Changes in Accumulated Other Comprehensive Loss (in thousands): Three months ended March 31, 2016 2015 Beginning balance $ (575 ) $ (361 ) Current period other comprehensive gain, net of tax 439 284 Ending balance $ (136 ) $ (77 )

Business and Basis of Present20

Business and Basis of Presentation (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	$ 3,060	$ 3,856
Amortized Cost	163,740	167,100
Gross Unrealized Holding Gains	54	1
Gross Unrealized Holding Losses Less than 12 mos	(139)	(479)
Gross Unrealized Holding Losses 12 mos or Longer	(51)	(97)
Fair Value	163,604	166,525
Level 1 Securities | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amortized Cost	4,660	1,232
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses Less than 12 mos	0	0
Gross Unrealized Holding Losses 12 mos or Longer	0	0
Fair Value	4,660	1,232
Level 2 Securities | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amortized Cost	4,469
Gross Unrealized Holding Gains	3
Gross Unrealized Holding Losses Less than 12 mos	0
Gross Unrealized Holding Losses 12 mos or Longer	0
Fair Value	4,472
Level 2 Securities | US Government agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amortized Cost	16,860	10,020
Gross Unrealized Holding Gains	4	0
Gross Unrealized Holding Losses Less than 12 mos	(2)	(37)
Gross Unrealized Holding Losses 12 mos or Longer	0	0
Fair Value	16,862	9,983
Level 2 Securities | Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amortized Cost	129,651	144,352
Gross Unrealized Holding Gains	41	0
Gross Unrealized Holding Losses Less than 12 mos	(137)	(435)
Gross Unrealized Holding Losses 12 mos or Longer	(51)	(96)
Fair Value	129,504	143,821
Level 2 Securities | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amortized Cost	5,040	7,640
Gross Unrealized Holding Gains	6	1
Gross Unrealized Holding Losses Less than 12 mos	0	(7)
Gross Unrealized Holding Losses 12 mos or Longer	0	(1)
Fair Value	$ 5,046	$ 7,633

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Millions	Mar. 31, 2016USD ($)
Certificates of deposit
Schedule of Available-for-sale Securities [Line Items]
Securities maturing from year one to year two	$ 1.4
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Securities maturing from year one to year two	23
US Government agencies
Schedule of Available-for-sale Securities [Line Items]
Securities maturing from year one to year two	$ 15.3

Shareholders_ Equity and Shar23

Shareholders’ Equity and Share-Based Compensation (Changes in AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (575)	$ (361)
Current period other comprehensive gain, net of tax	439	284
Ending balance	$ (136)	$ (77)

Shareholders_ Equity and Shar24

Shareholders’ Equity and Share-Based Compensation (Narrative) (Details) $ in Millions	Feb. 09, 2016shares	Jan. 21, 2016¥ / sharesshares	May. 01, 2015	Mar. 31, 2016USD ($)shares	Jan. 06, 2016shares
Class of Stock [Line Items]
Common stock reserved for future issuance					1,460,684
Options granted		900,000
Contractual life		10 years
Increase in stock-based compensation | $				$ 2
Incentive Stock Option
Class of Stock [Line Items]
Contractual life		5 years
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Vested units				229,707
Chief Executive Officer
Class of Stock [Line Items]
Options granted		780,000
Share-based compensation, vesting period		3 years
Chief Executive Officer | Over Three Years
Class of Stock [Line Items]
Options granted		390,000
Chief Executive Officer | On the First Employment Anniversary
Class of Stock [Line Items]
Vesting percentage		33.00%
Chief Executive Officer | On a Monthly Pro Rata Basis Over the Next Three Years
Class of Stock [Line Items]
Vesting percentage		67.00%
Chief Executive Officer | Incrementally on the Closing Market Price of the Common Shares on the Tokyo Stock Exchange
Class of Stock [Line Items]
Options granted		390,000
Chief Executive Officer | Share-based Compensation Award, Tranche Three
Class of Stock [Line Items]
Vesting percentage		33.00%
Consecutive trading days		30 days
Share price | ¥ / shares		¥ 1,102
Chief Executive Officer | Share-based Compensation Award, Tranche Four
Class of Stock [Line Items]
Vesting percentage		33.00%
Consecutive trading days		30 days
Share price | ¥ / shares		¥ 1,470
Chief Executive Officer | Share-based Compensation Award, Tranche Five
Class of Stock [Line Items]
Consecutive trading days		30 days
Share price | ¥ / shares		¥ 1,837
Each Board of Directors
Class of Stock [Line Items]
Options granted		30,000
Share-based compensation, vesting period			4 years
New Hires
Class of Stock [Line Items]
Options granted	37,800
Share-based compensation, vesting period	4 years
New Hires | On the First Employment Anniversary
Class of Stock [Line Items]
Vesting percentage	25.00%
New Hires | On a Monthly Pro Rata Basis Over the Next Three Years
Class of Stock [Line Items]
Vesting percentage	75.00%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Effective tax rate	0.00%	0.00%
Statutory rate	34.00%	34.00%

Collaboration and License Agr26

Collaboration and License Agreements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue Recognition, Milestone Method [Line Items]
Revenue from collaborations	$ 3,756	$ 7,215
Research and Development
Revenue Recognition, Milestone Method [Line Items]
Option and license agreement, fees	10,000
Option and license agreement, payment made	$ 5,000
Royalties, percent of reduction in payment	50.00%
Option and license agreement, termination period	60 days
Research and Development | Maximum
Revenue Recognition, Milestone Method [Line Items]
Option and license agreement, possible future payment	$ 5,000
Exercise of options, eligibility for additional payment	300,000
Sale-based milestone, eligibility for additional payment	90,000
Collaborative Arrangement, Product
Revenue Recognition, Milestone Method [Line Items]
Revenue from collaborations	$ 3,800	$ 7,200

Net Loss Per Share (Details)

Net Loss Per Share (Details)	3 Months Ended
	Mar. 31, 2016shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from the calculation of diluted net income (loss) per share	1,306,947

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Apr. 30, 2016USD ($)
Subsequent Event
Subsequent Event [Line Items]
Loss contingency accrual, payments	$ 0.2