Fortress Biotech (FBIO) 10-Q12 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2014	9-May-14
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Entity Registrant Name	'CORONADO BIOSCIENCES INC	'
Entity Central Index Key	'0001429260	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	44,305,054

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current Assets:	'	'
Cash and cash equivalents	$79,982	$99,521
Prepaid and other current assets	522	510
Total current assets	80,504	100,031
Property & equipment, net	69	447
Restricted cash	14,009	0
Long-term investment, at fair value	250	0
Other assets	70	104
Total Assets	94,902	100,582
Current Liabilities:	'	'
Accounts payable	872	468
Interest payable	25	109
Accrued expenses	3,438	4,430
Current portion of note payable	0	6,203
Total current liabilities	4,335	11,210
Note payable	14,009	7,017
Other long-term liabilities	1,066	1,077
Total Liabilities	19,410	19,304
Commitments and Contingencies	'	'
Stockholders' Equity:	'	'
Common Stock, $.001 par value, 100,000,000 shares authorized, 44,253,387 and 39,652,950 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively	44	40
Additional paid-in capital	204,160	202,580
Deficit accumulated during development stage	-128,712	-121,342
Total Stockholders' Equity	75,492	81,278
Total Liabilities and Stockholders' Equity	94,902	100,582
Series C Convertible Preferred Stock [Member]	'	'
Stockholders' Equity:	'	'
Convertible Preferred stock, $.001 par value, 129,767 Series C shares authorized, 0 shares issued and outstanding as of both March 31, 2014 and December 31, 2013	$0	$0

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	44,253,387	39,652,950
Common Stock, shares outstanding	44,253,387	39,652,950
Series C Convertible Preferred Stock [Member]	'	'
Preferred Stock, par value	$0.00	$0.00
Preferred Stock, shares authorized	129,767	129,767
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		93 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Operating expenses:	'	'	'
Research and development	$4,487	$5,974	$72,178
General and administrative	2,095	2,484	28,472
In-process research and development	0	0	21,749
Loss from operations	-6,582	-8,458	-122,399
Interest income	178	76	1,203
Interest expense	-966	-476	-6,842
Other income	0	0	733
Warrant expense	0	0	-1,407
Net loss	-7,370	-8,858	-128,712
Common Stock dividend to Series A Convertible Preferred Stockholders	0	0	-5,861
Net loss attributed to Common Stockholders	($7,370)	($8,858)	($134,573)
Basic and diluted net loss per common share	($0.21)	($0.35)	'
Weighted average common shares outstandingBbasic and diluted	35,900,596	25,182,369	'

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended		93 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Cash flows from operating activities:	'	'	'
Net loss	($7,370)	($8,858)	($128,712)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'
Stock-based compensation expense	1,135	1,523	14,549
Acquired in-process research and development	0	0	21,749
Noncash interest expense	515	129	2,949
Noncash interest expense-related parties	0	0	286
Contribution of services by stockholder	0	0	130
Issuance of Common Stock to non-employee for services	0	0	121
Change in fair value of Common Stock warrant liability	0	0	234
Change in fair value of embedded conversion feature	0	0	831
Change in fair value of Preferred Stock warrant liability	0	0	1,407
Depreciation expense	5	3	66
Asset impairment	723	0	723
Changes in operating assets and liabilities:	'	'	'
Prepaid and other assets	-12	66	-582
Interest payable	-84	0	25
Accounts payable and accrued expenses	-588	-355	3,810
End of term charge Hercules Note	-398	0	-398
Net cash used in operating activities	-6,074	-7,492	-82,812
Cash flows from investing activities:	'	'	'
Purchase of office equipment	0	-2	-135
Deposit for leasehold improvements	0	0	-373
Purchase of in-process research and development	0	0	-3,843
Purchase of investment	-250	0	-250
Net cash used in investing activities	-250	-2	-4,601
Cash flows from financing activities:	'	'	'
Proceeds from PCP notes payable-related party	0	0	570
Payment of PCP notes payable-related party	0	0	-570
Payment of PCP notes payable-Asphelia asset purchase	0	0	-750
Proceeds from notes payable-related parties	0	0	2,221
Proceeds from issuance of Convertible Preferred Stock Series	0	0	25,784
Payment of costs related to the issuance of Convertible Preferred Stock	0	0	-2,884
Proceeds from borrowings under line of credit	0	0	80
Payment of line of credit	0	0	-80
Proceeds from Senior Convertible Notes	0	0	7,570
Payment of debt issue costs	0	0	-737
Payment of notes payable-related parties	0	0	-600
Proceeds from issuance of Common Stock	481	11,690	121,933
Payment of costs related to the issuance of Common Stock	-32	-343	-4,235
Cashless Exercise Of Warrants	-13,655	0	0
Payment of debt issue costs associated with Hercules Note	0	0	-288
Proceeds from IDB Note	14,009	0	14,009
Payment of debt issue costs associated with IDB Note	-9	0	-9
Transfer of restricted cash	-14,009	0	-14,009
Net cash (used in)/provided by financing activities	-13,215	11,347	167,395
(Decrease)/Increase in cash and cash equivalents	-19,539	3,853	79,982
Cash and cash equivalents-beginning of period	99,521	40,199	0
Cash and cash equivalents-end of period	79,982	44,052	79,982
Supplemental disclosure of cash flow information:	'	'	'
Cash paid for interest	534	347	2,483
Supplemental disclosure of non-cash financing and investing activities:	'	'	'
Assumption of PCP Note related to Asphelia Asset Purchase	0	0	750
Issuance of Restricted Stock	4	0	8
Hercules Note [Member]	'	'	'
Supplemental disclosure of non-cash financing and investing activities:	'	'	'
Issuance of Warrant related to Hercules Note	0	0	323
Series B Convertible Preferred Stock [Member]	'	'	'
Supplemental disclosure of non-cash financing and investing activities:	'	'	'
Issuance of Convertible Preferred Stock Series B for purchase of assets	0	0	16,114
Series C Convertible Preferred Stock [Member]	'	'	'
Cash flows from financing activities:	'	'	'
Payment of costs related to the issuance of Convertible Preferred Stock	0	0	-2,291
Supplemental disclosure of non-cash financing and investing activities:	'	'	'
Issuance of Convertible Preferred Stock Series C warrants	0	0	1,286
Series A Convertible Preferred Stock [Member]	'	'	'
Cash flows from financing activities:	'	'	'
Proceeds from issuance of Convertible Preferred Stock Series	0	0	21,681
Supplemental disclosure of non-cash financing and investing activities:	'	'	'
Issuance of Common Stock warrants related to the Convertible Preferred Stock Series A financing	0	0	621
Conversion of Senior Convertible Notes into Convertible Preferred Stock Series A	0	0	8,601
Conversion of notes payable-related parties into Convertible Preferred Stock Series A	0	0	1,907
Series A, B and C Convertible Preferred Stock [Member]	'	'	'
Supplemental disclosure of non-cash financing and investing activities:	'	'	'
Issuance of Common Stock for Convertible Preferred Stock Series A, B and C	$0	$0	$67,004

Organization_and_Description_o

Organization and Description of Business	3 Months Ended
Organization and Description of Business	Mar. 31, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]	'
Organization and Description of Business	'
	1. Organization and Description of Business

	Coronado Biosciences, Inc. (the “Company”), incorporated in Delaware on June 28, 2006 (date of inception), is a biopharmaceuticals company involved in the development of novel immunotherapy agents for the treatment of autoimmune diseases and cancer, namely CNDO-201 or Trichuris suis ova (“TSO”) and CNDO-109.

	The Company plans to identify, evaluate and potentially in-license, acquire or invest in pharmaceutical and biotechnology products, technologies and/or companies. The Company may from time to time consider financing existing or later-acquired products, technologies or companies through partnerships, joint ventures, direct financings, and/or public or private spin-outs. The Company believes these activities will diversify its product development and, over time, may enhance shareholder value through potential royalty, milestone and equity payments, fees as well as potential product revenues.

	As of March 31, 2014, the Company has three wholly owned subsidiaries: Innmune Limited, Coronado SO Co., Inc. and TSO Development Corporation, Inc.

	Recent 2014 Developments

	On March 17, 2014, the Company made a $250,000 investment in Argus Neurooptics LLC (“Argus”), a medical device company developing a laser device to treat migraine headaches. The investment represents a 35% ownership position in Argus. The Company elected the fair value option to record this investment. (See Note 8).

	Also on March 17, 2014, the Company provided a $50,000 bridge loan to Nuro Pharma, Inc. (“Nuro”). Nuro is an emerging specialty pharmaceutical company developing, marketing and distributing Epilepsy drugs. The bridge loan is payable in 90 days, accrues interest at a rate of 8% and is secured by Nuro’s assets. The Company recorded this bridge loan in prepaid and other current assets in its Unaudited Condensed Consolidated Balance Sheets as of March 31, 2014.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2. Summary of Significant Accounting Policies

	Basis of Presentation and Principles of Consolidation

	The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and 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 GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of our balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period.

	The consolidated balance sheet at December 31, 2013 has been derived from the audited consolidated financial statements at that date. The condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the condensed consolidated financial statements have read or have access to the audited consolidated financial statements for the preceding fiscal year. Accordingly, these condensed consolidated financial statements should be read in conjunction with the Company’s Form 10-K, which was filed with the United States Securities and Exchange Commission, or SEC, on March 14, 2014.

	The Company’s condensed consolidated financial statements include the accounts of the Company and its 100% owned subsidiaries: Innmune Limited, Coronado SO Co., Inc. and TSO Development Corporation, Inc. All intercompany balances and transactions have been eliminated.

	The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period.

	Use of Estimates

	The Company’s condensed consolidated financial statements include certain amounts that are based on management’s best estimates and judgments. The Company’s significant estimates include, but are not limited to, useful lives assigned to long-lived assets, the valuation of its common stock (“Common Stock”) prior to the Company becoming public and Common Stock warrants, stock options, accrued expenses, provisions for income taxes and contingencies. Due to the uncertainty inherent in such estimates, actual results may differ from our estimates.

	Fair Value Measurement

	The Company follows accounting guidance on fair value measurements for financial assets and liabilities measured at fair value on a recurring basis. Under the accounting guidance, fair value is defined as an exit price, representing the amount 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. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability.

	The accounting guidance requires fair value measurements be classified and disclosed in one of the following three categories:

	Level 1: Quoted prices in active markets for identical assets or liabilities.

	Level 2: Observable inputs other than Level 1 prices, for similar assets or liabilities that are directly or indirectly observable in the marketplace.

	Level 3: Unobservable inputs which are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

	The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.

	Certain of the Company’s financial instruments are not measured at fair value on a recurring basis, but are recorded at amounts that approximate their fair value due to their liquid or short-term nature, such as accounts payable, accrued expenses and other current liabilities. The carrying value of the accrued Ovamed manufacturing rights license included in both current liabilities and long-term liabilities in the Condensed Consolidated Balance Sheets has been recorded at its net present value, which approximates its fair value. (See Note 8).

	Impairment of Long-Lived Assets

	The Company reviews long-lived assets, including property and equipment, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset for recoverability, the Company compares forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset to its carrying value. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of an asset are less than its carrying amount. The impairment loss would be based on the excess of the carrying value of the impaired asset over its fair value, determined based on discounted cash flows. During the three month period ended March 31, 2014, in relation to the abandonment of its lease in Woburn, MA, the Company recorded an impairment loss of $0.4 million related to the write-off of its construction in progress long-lived asset. (See Note 6).

	Long-term Investment at Fair Value

	The Company elected the fair value option for its $250,000 long-term investment in Argus as this option best represents the economics and the fair value of this instrument. The decision to elect the fair value option, which is irrevocable once elected, is determined on an instrument by instrument basis and applied to an entire instrument. The net gains or losses, if any, on a long-term investment for which the fair value option has been elected are recognized as a change in fair value of financial instruments, net in the Condensed Consolidated Statements of Operations.

	Stock-Based Compensation

	The Company expenses stock-based compensation to employees over the requisite service period based on the estimated grant-date fair value of the awards and forfeiture rates. For stock-based compensation awards to non-employees, the Company remeasures the fair value of the non-employee awards at each reporting period prior to vesting and finally at the vesting date of the award. Changes in the estimated fair value of these non-employee awards are recognized as compensation expense in the period of change.

	The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment.

	Income Taxes

	The Company records income taxes using the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax effects attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and operating loss and tax credit carryforwards. The Company establishes a valuation allowance if it is more likely than not that the deferred tax assets will not be recovered based on an evaluation of objective verifiable evidence. For tax positions that are more likely than not of being sustained upon audit, the Company recognizes the largest amount of the benefit that is greater than 50% likely of being realized. For tax positions that are not more likely than not of being sustained upon audit, the Company does not recognize any portion of the benefit.

	Comprehensive Loss

	The Company’s comprehensive loss is equal to its net loss for all periods presented.

Net_Loss_Per_Common_Share

Net Loss Per Common Share	3 Months Ended
Net Loss Per Common Share	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Net Loss Per Common Share	'
	3. Net Loss Per Common Share

	The Company calculates loss per share using the two-class method, which is an earnings allocation formula that determines earnings per share for Common Stock and participating securities (unvested restricted stock), if any, according to dividends declared and non-forfeitable participation rights in undistributed earnings. Under this method, all earnings (distributed and undistributed) are allocated to Common Stock and participating securities, if any, based on their respective rights to receive dividends. Holders of restricted Common Stock are entitled to all cash dividends, when and if declared, and such dividends are non-forfeitable. The participating securities do not have a contractual obligation to share in any losses of the Company. As a result, net losses are not allocated to the participating securities for any periods presented.

	Basic net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period, without consideration for Common Stock equivalents. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of Common Stock and Common Stock equivalents outstanding for the period.

	A calculation of basic and diluted net loss per share follows:
		For the three months ended
		March 31,
	($ in thousands except share and per share amounts)	2014		2013
	Historical net loss per share:
	Numerator:
	Net loss attributed to Common Stockholders	$	-7,370	$	-8,858
	Denominator:
	Weighted-average common shares outstanding—Denominator for basic and diluted net loss per share		35,900,596		25,182,369
	Basic and diluted net loss per common share attributed to common stockholders	$	-0.21	$	-0.35

	The Company’s potential dilutive securities which include unvested restricted stock, stock options, and warrants have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of shares of Common Stock outstanding used to calculate both basic and diluted net loss per share is the same.

	The following shares of potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding, as the effect of including such securities would be antidilutive:

		For the three months ended March 31,
		2014		2013
	Warrants to purchase Common Stock		711,895		1,188,147
	Options to purchase Common Stock		2,583,812		3,984,184
	Unvested Restricted Stock		5,009,512		—
			8,305,219		5,172,331

Debt_and_Interest

Debt and Interest	3 Months Ended
Debt and Interest	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt and Interest	'
	4. Debt and Interest

	On February 13, 2014, the Company repaid its term loan with Hercules Growth Capital, Inc. (the “Hercules Note”), of which $13.2 million in principal was outstanding at the time of repayment. Early payment of the Hercules Note was $14.0 million, consisting of principal of $13.2 million, end of term charge of $0.4 million, a prepayment fee of $0.3 million and interest of $0.1 million, all included as interest expense in the statement of operations. Prior to re-payment, in January 2014, the Company made a scheduled principal payment of $0.5 million on the Hercules Note.

	Also on February 13, 2014, the Company executed a Promissory Note (the “IDB Note”) with the Israel Discount Bank of New York (the “Bank”) in an amount of up to $15.0 million. At March 31, 2014, the amount of debt outstanding under the IDB Note was $14.0 million. The Company used substantially all of the proceeds from the IDB Note to repay its prior loan from Hercules Technology Growth Capital, Inc. The Company may request revolving advances under the IDB Note in a minimum amount of $100,000 (or the remaining amount of the undrawn balance under the IDB Note if such amount is less than $100,000). All amounts advanced under the IDB Note are due in full at the earlier of: (i) February 13, 2016, or (ii) on the Bank’s election following the occurrence and continuation of an event of default. The unpaid principal amount of each advance shall bear interest at a rate per annum equal to the rate payable on the Company’s money market account of 0.75% plus a margin of 150 basis points. The IDB Note contains various representations and warranties customary for financings of this type.

	The obligations of the Company under the IDB Note are collateralized by a security interest in, a general lien upon, and a right of set-off against the Company’s money market account equal to amounts outstanding under the IDB Note, pursuant to the Assignment and Pledge of Money Market Account, dated as of February 13, 2014 (the “Pledge Agreement”). Pursuant to the Pledge Agreement, the Bank may, after the occurrence and continuation of an event of default under the IDB Note, recover from the money market account all amounts outstanding under the IDB Note. The Pledge Agreement contains various representations, warranties, and covenants customary for pledge agreements of this type.

	The Company will default on the IDB Note if, among other things, it fails to pay outstanding principal or interest when due. Following the occurrence of an event of default under the IDB Note, the Bank may: (i) declare the entire outstanding principal balance of the IDB Note, together with all accrued interest and other sums due under the IDB Note, to be immediately due and payable; (ii) exercise its right of setoff against any money, funds, credits or other property of any nature in possession of, under control or custody of, or on deposit with the Bank; (iii) terminate the commitments of the Bank; and (iv) liquidate the money market account to reduce the Company’s obligations to the Bank.

	Interest expense for the three months ended March 31, 2014 and 2013, was $966,000 and $476,000, respectively. During the three month period ended March 31, 2014 and 2013, interest expense related to the Hercules Note was $845,000 and $438,000, respectively, including $435,000 and $91,000 related to accretion of the debt discount, and $44,000 and $5,000 related to the amortization of financing costs, respectively. For the three-month period ended March 31, 2014, borrowings under the IDB Note were $14.0 million and interest expense incurred was $42,000.

Property_and_Equipment

Property and Equipment	3 Months Ended
Property and Equipment	Mar. 31, 2014
Property Plant And Equipment [Abstract]	'
Property and Equipment	'
	5. Property and Equipment

	Property and equipment consisted of the following:

	($ in thousands)	Useful Life	As of March 31,		As of
		(Years)	2014		December 31,
					2013
	Construction in progress	N/A	$	—	$	373
	Computer equipment	3		13		13
	Furniture & fixtures	5		69		69
	Leasehold improvements	5		12		12
	Total property and equipment			94		467
	Less: Accumulated depreciation			-25		-20
	Property and equipment, net		$	69	$	447

	During the three month period ended March 31, 2014, in relation to the abandonment of its Woburn, MA manufacturing facility, the Company recorded $373,000 of impairment loss related to the write-off of its construction in progress long-lived asset. (See Note 6).

Accrued_Expenses_and_Other_Lon

Accrued Expenses and Other Long-Term Liabilities	3 Months Ended
Accrued Expenses and Other Long-Term Liabilities	Mar. 31, 2014
Payables and Accruals [Abstract]	'
Accrued Expenses and Other Long-Term Liabilities	'
	6. Accrued Expenses and Other Long-Term Liabilities

	Effective January 28, 2014, Dr. Kevin Horgan was separated from service from the Company. Dr. Horgan was the Company’s Chief Medical Officer. In connection with Dr. Horgan’s termination, the Company recorded a severance charge of $0.4 million. During the three month period ended March 31, 2014 the Company also paid $1.0 million in severance obligations to its former executives.

	In March 2014, the Company made the decision to abandon its plans to build-out its Woburn, MA manufacturing facility and to close its New York, NY office. As a result, the Company commenced marketing both facilities for sub-lease. In April 2014, the Company entered into a sub-lease arrangement for its New York, NY office for the remaining term of the lease. During the three months ended March 31, 2014, the Company recognized expense related to these decisions of approximately $0.8 million, which is included in research and development expenses during the three month period ended March 31, 2014. Such expense was comprised of $0.7 million related to the decision to delay manufacturing of TSO in the Woburn, MA facility, which included future rent payments of $0.4 million through the lease termination date of February 2018, offset by $0.1 million of rental income from a probable sublease, and $0.3 million related to the write-down, to its estimated net realizable value, of its long-lived assets. The Company also recognized $0.1 million in expense related to a sub-lease for the Company’s New York, NY office space effective May 1, 2014 through the termination of the lease in May 2016.

	Ovamed manufacturing rights of $1.5 million for TSO in the Coronado Territory, United States of America, South America and Japan, are recorded on the Company’s Unaudited Condensed Consolidated Balance Sheets as a current accrued expense of $500,000 and as a long-term liability of $716,000. This obligation was recorded at its estimated net present value; accretion of the obligation was $37,000 and $33,000 for the three month period ended March 31, 2014 and 2013, respectively, and is recorded as interest expense.

	Accrued expenses and other long-term liabilities consisted of the following:

		As of March 31,		As of December 31,
		2014		2013
	Accrued expenses:
	Salaries, bonuses and related benefits	$	272	$	450
	Severance		993		1,502
	Professional fees		280		351
	Research and development expenses		1,043		1,245
	State franchise taxes		—		190
	Ovamed manufacturing rights – short-term component		500		500
	Lease impairment		165		—
	Other		185		192
	Total accrued expenses	$	3,438	$	4,430
	Other long-term liabilities:
	Hercules Note end of term charge		—		398
	Ovamed manufacturing rights – long-term component		716		679
	Long-term impairment charge		350		—
	Total other long-term liabilities	$	1,066	$	1,077

TSO

TSO	3 Months Ended
TSO	Mar. 31, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]	'
TSO	'
	7. TSO

	Research Agreement

	On February 22, 2013, the Company and Freie Universität Berlin (“FU Berlin”) entered into a Research Agreement (the “Research Agreement”) to, among other things, identify and evaluate secretory proteins from TSO (the “Project”). The duration of the Project was expected to be four years, during which the Company would have paid FU Berlin a total maximum amount of approximately €648,000, or approximately $843,000 in research fees and FU Berlin would have periodically produced written progress reports on the Project.

	On March 25, 2014, the Company terminated the Research Agreement effective June 30, 2014. In connection with this termination, during the three month period ended March 31, 2014, the Company incurred termination fees of $235,000 comprised primarily of unpaid research fees, which is included in research and development expenses during the three month period ended March 31, 2014.

Investment_at_Fair_Value

Investment at Fair Value

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurement

8. Investment at Fair Value

On March 17, 2014, the Company invested $250,000 for a 35% ownership position in Argus. The Company elected the fair value option for recording this investment. In conjunction with this investment, the Company entered into a Purchase Agreement with Argus, in which the Company received 13,409,962 Class A Preferred Units, representing 83% of a total 16,091,954 Class A Preferred Units. Concurrently with the Purchase Agreement with Argus, Argus entered into a Revenue Sharing Agreement (“Revenue Agreement”) with the Company. Under the terms of this Revenue Agreement, Argus will pay the Company an amount equal to 5% of all Argus Intellectual Property Revenue, which includes fees, royalties, sub-licensing, licensing, grant of rights, milestone payments or any payment for any of Argus’ Intellectual Property (“Revenue Share Amount”). This Revenue Share Amount is payable to the Company.

The following table classifies into the fair value hierarchy financial instruments measured at fair value on a recurring basis in the accompanying Unaudited Condensed Consolidated Balance Sheets as of March 31, 2014:

($ in thousands)

Level 1

Level 2

Level 3

Total

Long-Term Investment, at fair value

—

250

The table below provides a rollforward of the changes in fair value of Level 3 financial instruments, as of March 31, 2014:

($ in thousands)

Long-term investment,

at fair value

Balance at December 31, 2013

—

Purchases

250

Total unrealized (gains) or losses

—

Balance at March 31, 2014

250

The value of the Company’s investment in Argus was determined based on a valuation which takes into consideration, when applicable, cash received, cost of the investment, market participant inputs, estimated cash flows based on entity specific criteria, purchase multiples paid in other comparable third-party transactions, market conditions, liquidity, operating results and other qualitative and quantitative factors. The values at which the Company’s investments are carried on its books are adjusted to estimated fair value at the end of each quarter taking into account general economic and stock market conditions and those characteristics specific to the underlying investments. Based upon these inputs at March 31, 2014, the fair value approximated cost.

Common_Stock

Common Stock	3 Months Ended
Common Stock	Mar. 31, 2014
Stockholders Equity Note [Abstract]	'
Shareholders Equity and Share-based Payments	'
	9. Common Stock

	At Market Issuance Sales Agreement

	On April 29, 2013, the Company entered into an At Market Issuance Sales Agreement with MLV & Co. LLC (“2013 ATM”) whereby it could issue and sell up to $45.0 million of its Common Stock pursuant to its Form S-3 filed in September 2012. During the three month period ended March 31, 2014, although the Company did not issue any shares of its Common Stock nor receive any proceeds in connection with the 2013 ATM, the Company did incur approximately $32,000 of cost for an audit consent in connection with the 2013 ATM.

	Stock-based Compensation

	As of March 31, 2014, the Company had three equity compensation plans: the Coronado Biosciences, Inc. 2007 Stock Incentive Plan, the Coronado Biosciences, Inc. 2013 Stock Incentive Plan, and the Coronado Biosciences, Inc. 2012 Employee Stock Purchase Plan.

	The following table summarizes the stock-based compensation expense from stock option awards, restricted common stock awards, employee stock purchase programs and warrants for the three months ended March 31, 2014 and 2013, and from the period June 28, 2006 (date of inception) to date:

		For the three months ended				Period from
		March 31,				June 28, 2006
						(date of
						inception) to
						March 31,
	($ in thousands)	2014		2013		2014
	Employee awards	$	1,122	$	972	$	9,194
	Non-employee awards		13		434		4,323
	Non-employee warrants		—		117		1,032
	Total stock-based compensation expense	$	1,135	$	1,523	$	14,549

	For the three months ended March 31, 2014 and 2013, $0.4 million was included in research and development expenses and $0.8 million was included in general and administrative expenses and $0.8 million was included in research and development expenses and $0.7 million was included in general and administrative expenses, respectively. Since inception $7.9 million was in included in research and development expenses and $6.6 million was included in general and administrative expenses.

	The following table summarizes stock option activity:

		Outstanding Options						Weighted
	($ in thousands except per share amounts)	Number of		Weighted		Total		Average
		Shares		Average		Weighted		Remaining
				Exercise		Average		Contractual
				Price		Intrinsic		Life (in
						Value		years)
	At December 31, 2013		3,117,777	$	4.31	$	—		8.36
	Options granted		—		—		—
	Options exercised		-256,745		1.88		26
	Options cancelled		-600,000		4.39		—
	At March 31, 2014		2,261,032	$	4.57	$	—		8.2
	Options vested and expected to vest		2,261,032	$	4.57	$	—		8.2
	Options vested and exercisable		1,492,699	$	4.24	$	—		7.82

	The following table summarizes restricted stock activity:

		Restricted Stock
		Number of		Weighted
		Shares		Average Grant
				Date
				Fair Value
	Unvested balance at December 31, 2013		3,958,692	$	1.93
	Restricted stock granted		4,343,692		2.69
	Unvested balance at March 31, 2014		8,302,384	$	2.33

	As of March 31, 2014, the Company had unrecognized stock-based compensation expense related to unvested stock options and restricted stock awards of $2.4 million and $18.5 million, respectively, which is expected to be recognized over the remaining weighted-average vesting period of 1.2 years and 3.8 years, respectively.

	Michael Weiss

	Mr. Michael Weiss has served as a director of the Company since December 19, 2013 and from that time until February 19, 2014 served as the Co-Vice Chairman of the board of directors. On February 20, 2014, Mr. Weiss was appointed Executive Vice Chairman, Strategic Development. The Company does not intend to enter into any employment contract with Dr. Weiss addressing his officer positions with the Company and the Company will pay Mr. Weiss an annual base salary of $28,275, the lowest salary permissible under New York State law. Mr. Weiss will also be eligible for a discretionary bonus based on his achievement of performance goals and objectives as established by the board of directors. On December 19, 2013, the Company issued Mr. Weiss 1,979,346 shares of restricted stock for services to be rendered to the Company. The fair value was $3.8 million based upon a value of $1.93 per share calculated using a bi-nominal model, this award vests based upon the passage of time and certain pre-defined market conditions. In addition, on February 20, 2014, the Company issued Mr. Weiss 3,958,692 shares of restricted stock as an inducement to employment and for services to be rendered to the Company. The fair value was $10.6 million and was based on a closing common stock price of $2.69 on the date of grant. Such shares shall vest at a rate of 16.67% for the first three annual anniversaries and 10% will vest in five equal installments upon certain events occurring.

	Malcolm Hoenlein

	On February 20, 2014, the Company appointed Mr. Malcolm Hoenlein to the vacant seat on its board of directors. Mr. Hoenlein was granted 30,000 shares of restricted stock, of which one-third vests on each annual anniversary of grant. The fair value was $80,700 and was based on a closing Common Stock price of $2.69 per share on the date of grant.

	Warrants to Purchase Common Stock
For the three months ended March 31, 2014, the Company did not issue any shares of Common Stock pursuant to the exercise of warrants. For the three months ended March 31, 2013, the Company issued 8,415 shares of Common Stock pursuant to the cashless exercise of 18,724 warrants at a weighted-average exercise price of $4.97 per share.

Strategic Transaction Committee

On February 20, 2014, The Company established a Strategic Transaction Committee of the board of directors. Messrs. Lobell (Chairman) and Barrett, and Drs. Harvey and Rowinsky were appointed to the Committee. Each member was granted 50,000 shares of restricted stock, of which one third will vest on each annual anniversary of grant. The fair value was $0.5 million and was based on a closing Common Stock price of $2.69 per share on the date of grant.

Shareholders’ Agreement

On February 20, 2014, Drs. Harvey, Rosenwald and Rowinsky and Messrs. Barrett, Lobell and Weiss, entered into a Shareholders’ Agreement, pursuant to which they agreed that, until the end of the Company’s annual meeting held in calendar year 2016 and so long as Dr. Rosenwald and Mr. Weiss are on the proposed slate of directors to be nominated, they each will vote all of their shares of Common Stock in favor of electing those individuals, and only those individuals, to the board of directors whom the Company’s Nominating and Corporate Governance Committee proposes. Until that time, they also agreed to not publicly or otherwise advocate for or encourage in any way (outside of fulfilling their director duties) the election of any individual to our board whom is not proposed by the Nominating and Corporate Governance Committee.

Subsequent_Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	10. Subsequent Events

	Related Party Service Agreement

	On April 3, 2014, the Company entered into a Shared Services Agreement with Opus Point Partners Management, LLC (“OPPM”) in which the parties agreed to share a rented facility as well as costs for certain services, which they individually require for the operation of their respective entities. Dr. Rosenwald, Chairman, President and Chief Executive Officer and Mr. Weiss, Executive Vice President, Strategic Development, are both Partners of OPPM. The Company incurred expense of $11,000 in April 2014 pertaining to this agreement, which agreement can be terminated by either party with thirty days’ notice.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2014
Accounting Policies [Abstract]	'
Basis of Presentation and Principles of Consolidation	'
	Basis of Presentation and Principles of Consolidation

	The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and 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 GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of our balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period.

	The consolidated balance sheet at December 31, 2013 has been derived from the audited consolidated financial statements at that date. The condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the condensed consolidated financial statements have read or have access to the audited consolidated financial statements for the preceding fiscal year. Accordingly, these condensed consolidated financial statements should be read in conjunction with the Company’s Form 10-K, which was filed with the United States Securities and Exchange Commission, or SEC, on March 14, 2014.

	The Company’s condensed consolidated financial statements include the accounts of the Company and its 100% owned subsidiaries: Innmune Limited, Coronado SO Co., Inc. and TSO Development Corporation, Inc. All intercompany balances and transactions have been eliminated.

	The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period.

Use of Estimates	'
	Use of Estimates

	The Company’s condensed consolidated financial statements include certain amounts that are based on management’s best estimates and judgments. The Company’s significant estimates include, but are not limited to, useful lives assigned to long-lived assets, the valuation of its common stock (“Common Stock”) prior to the Company becoming public and Common Stock warrants, stock options, accrued expenses, provisions for income taxes and contingencies. Due to the uncertainty inherent in such estimates, actual results may differ from our estimates.

Fair Value Measurement	'
	Fair Value Measurement

	The Company follows accounting guidance on fair value measurements for financial assets and liabilities measured at fair value on a recurring basis. Under the accounting guidance, fair value is defined as an exit price, representing the amount 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. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability.

	The accounting guidance requires fair value measurements be classified and disclosed in one of the following three categories:

	Level 1: Quoted prices in active markets for identical assets or liabilities.

	Level 2: Observable inputs other than Level 1 prices, for similar assets or liabilities that are directly or indirectly observable in the marketplace.

	Level 3: Unobservable inputs which are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

	The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.

	Certain of the Company’s financial instruments are not measured at fair value on a recurring basis, but are recorded at amounts that approximate their fair value due to their liquid or short-term nature, such as accounts payable, accrued expenses and other current liabilities. The carrying value of the accrued Ovamed manufacturing rights license included in both current liabilities and long-term liabilities in the Condensed Consolidated Balance Sheets has been recorded at its net present value, which approximates its fair value. (See Note 8).

Impairment of Long-Lived Assets	'
	Impairment of Long-Lived Assets

	The Company reviews long-lived assets, including property and equipment, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset for recoverability, the Company compares forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset to its carrying value. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of an asset are less than its carrying amount. The impairment loss would be based on the excess of the carrying value of the impaired asset over its fair value, determined based on discounted cash flows. During the three month period ended March 31, 2014, in relation to the abandonment of its lease in Woburn, MA, the Company recorded an impairment loss of $0.4 million related to the write-off of its construction in progress long-lived asset. (See Note 6).

Long-term Investment at Fair Value	'
	Long-term Investment at Fair Value

	The Company elected the fair value option for its $250,000 long-term investment in Argus as this option best represents the economics and the fair value of this instrument. The decision to elect the fair value option, which is irrevocable once elected, is determined on an instrument by instrument basis and applied to an entire instrument. The net gains or losses, if any, on a long-term investment for which the fair value option has been elected are recognized as a change in fair value of financial instruments, net in the Condensed Consolidated Statements of Operations.

Stock-Based Compensation	'
	Stock-Based Compensation

	The Company expenses stock-based compensation to employees over the requisite service period based on the estimated grant-date fair value of the awards and forfeiture rates. For stock-based compensation awards to non-employees, the Company remeasures the fair value of the non-employee awards at each reporting period prior to vesting and finally at the vesting date of the award. Changes in the estimated fair value of these non-employee awards are recognized as compensation expense in the period of change.

	The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment.

Income Taxes	'
	Income Taxes

	The Company records income taxes using the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax effects attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and operating loss and tax credit carryforwards. The Company establishes a valuation allowance if it is more likely than not that the deferred tax assets will not be recovered based on an evaluation of objective verifiable evidence. For tax positions that are more likely than not of being sustained upon audit, the Company recognizes the largest amount of the benefit that is greater than 50% likely of being realized. For tax positions that are not more likely than not of being sustained upon audit, the Company does not recognize any portion of the benefit.

Comprehensive Loss	'
	Comprehensive Loss

	The Company’s comprehensive loss is equal to its net loss for all periods presented.

Net_Loss_Per_Common_Share_Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
Net Loss Per Common Share (Tables)	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Calculation of Basic and Diluted Net Loss Per Share	'
	A calculation of basic and diluted net loss per share follows:
		For the three months ended
		March 31,
	($ in thousands except share and per share amounts)	2014		2013
	Historical net loss per share:
	Numerator:
	Net loss attributed to Common Stockholders	$	-7,370	$	-8,858
	Denominator:
	Weighted-average common shares outstanding—Denominator for basic and diluted net loss per share		35,900,596		25,182,369
	Basic and diluted net loss per common share attributed to common stockholders	$	-0.21	$	-0.35

Computations of Diluted Weighted Average Shares Outstanding	'
	The following shares of potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding, as the effect of including such securities would be antidilutive:

		For the three months ended March 31,
		2014		2013
	Warrants to purchase Common Stock		711,895		1,188,147
	Options to purchase Common Stock		2,583,812		3,984,184
	Unvested Restricted Stock		5,009,512		—
			8,305,219		5,172,331

Property_and_Equipment_Tables

Property and Equipment (Tables)	3 Months Ended
Property and Equipment (Tables)	Mar. 31, 2014
Property Plant And Equipment [Abstract]	'
Components of Property and Equipment	'
	Property and equipment consisted of the following:

	($ in thousands)	Useful Life	As of March 31,		As of
		(Years)	2014		December 31,
					2013
	Construction in progress	N/A	$	—	$	373
	Computer equipment	3		13		13
	Furniture & fixtures	5		69		69
	Leasehold improvements	5		12		12
	Total property and equipment			94		467
	Less: Accumulated depreciation			-25		-20
	Property and equipment, net		$	69	$	447

Accrued_Expenses_and_Other_Lon1

Accrued Expenses and Other Long-Term Liabilities (Tables)	3 Months Ended
Accrued Expenses and Other Long-Term Liabilities (Tables)	Mar. 31, 2014
Payables and Accruals [Abstract]	'
Components of Accrued Expenses and Other Long-Term Liabilities	'
	Accrued expenses and other long-term liabilities consisted of the following:

		As of March 31,		As of December 31,
		2014		2013
	Accrued expenses:
	Salaries, bonuses and related benefits	$	272	$	450
	Severance		993		1,502
	Professional fees		280		351
	Research and development expenses		1,043		1,245
	State franchise taxes		—		190
	Ovamed manufacturing rights – short-term component		500		500
	Lease impairment		165		—
	Other		185		192
	Total accrued expenses	$	3,438	$	4,430
	Other long-term liabilities:
	Hercules Note end of term charge		—		398
	Ovamed manufacturing rights – long-term component		716		679
	Long-term impairment charge		350		—
	Total other long-term liabilities	$	1,066	$	1,077

Investment_at_Fair_Value_Table

Investment at Fair Value (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

($ in thousands)

Level 1

Level 2

Level 3

Total

Long-Term Investment, at fair value

—

250

Schedule of changes in fair value of financial instruments

The table below provides a rollforward of the changes in fair value of Level 3 financial instruments, as of March 31, 2014:

($ in thousands)

Long-term investment,

at fair value

Balance at December 31, 2013

—

Purchases

250

Total unrealized (gains) or losses

—

Balance at March 31, 2014

250

Common_Stock_Tables

Common Stock (Tables)	3 Months Ended
Common Stock (Tables)	Mar. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Components of Stock-Based Compensation Expenses	'

	The following table summarizes the stock-based compensation expense from stock option awards, restricted common stock awards, employee stock purchase programs and warrants for the three months ended March 31, 2014 and 2013, and from the period June 28, 2006 (date of inception) to date:

		For the three months ended				Period from
		March 31,				June 28, 2006
						(date of
						inception) to
						March 31,
	($ in thousands)	2014		2013		2014
	Employee awards	$	1,122	$	972	$	9,194
	Non-employee awards		13		434		4,323
	Non-employee warrants		—		117		1,032
	Total stock-based compensation expense	$	1,135	$	1,523	$	14,549

Summary of Stock Option Activity	'
	The following table summarizes stock option activity:

		Outstanding Options						Weighted
	($ in thousands except per share amounts)	Number of		Weighted		Total		Average
		Shares		Average		Weighted		Remaining
				Exercise		Average		Contractual
				Price		Intrinsic		Life (in
						Value		years)
	At December 31, 2013		3,117,777	$	4.31	$	—		8.36
	Options granted		—		—		—
	Options exercised		-256,745		1.88		26
	Options cancelled		-600,000		4.39		—
	At March 31, 2014		2,261,032	$	4.57	$	—		8.2
	Options vested and expected to vest		2,261,032	$	4.57	$	—		8.2
	Options vested and exercisable		1,492,699	$	4.24	$	—		7.82

Nonvested Restricted Stock Shares Activity	'
	The following table summarizes restricted stock activity:

		Restricted Stock
		Number of		Weighted
		Shares		Average Grant
				Date
				Fair Value
	Unvested balance at December 31, 2013		3,958,692	$	1.93
	Restricted stock granted		4,343,692		2.69
	Unvested balance at March 31, 2014		8,302,384	$	2.33

Organization_and_Description_o1

Organization and Description of Business - Additional Information (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 17, 2014	Mar. 31, 2014	Mar. 17, 2014
			Argus Neurooptics LLC [Member]	Argus Neurooptics LLC [Member]	Nuro Pharma, Inc [Member]	Nuro Pharma, Inc [Member]
					Bridge Loan [Member]	Bridge Loan [Member]
Organization And Nature Of Business [Line Items]	'	'	'	'	'	'
Equity Method Investment Ownership Percentage	100.00%	'	'	35.00%	'	'
Financing Receivable, Recorded Investment, Current	'	'	'	'	'	$50,000
Threshold Period Past Due for Write-off of Financing Receivable	'	'	'	'	'90 days	'
Loans Receivable Interest Rate	'	'	'	'	8.00%	'
Long-term Investments, Total	$250,000	$0	$250,000	'	'	'

Summary_of_Significant_Account2

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 17, 2014
	Mar. 31, 2014	Dec. 31, 2013	Argus Neurooptics LLC [Member]	Argus Neurooptics LLC [Member]
Accounting Policies [Line Items]	'	'	'	'
Ownership percentage by parent	100.00%	'	'	35.00%
Percentage of tax benefit likely of being realized	50.00%	'	'	'
Gain (Loss) on Sale of Assets and Asset Impairment Charges	$400,000	'	'	'
Long-term Investments, Total	$250,000	$0	$250,000	'

Net_Loss_Per_Common_Share_Calc

Net Loss Per Common Share - Calculation of Basic and Diluted Net Loss Per Share (Detail) (USD $)	3 Months Ended		93 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Numerator:	'	'	'
Net loss attributed to common stockholders	($7,370)	($8,858)	($134,573)
Denominator:	'	'	'
Weighted-average common shares outstanding-denominator for basic and diluted net loss per share	35,900,596	25,182,369	'
Basic and diluted net loss per common share attributed to common stockholders	($0.21)	($0.35)	'

Net_Loss_Per_Common_Share_Comp

Net Loss Per Common Share - Computations of Diluted Weighted Average Shares Outstanding (Detail)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Total of weighted average shares outstanding	8,305,219	5,172,331
Unvested Restricted Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Total of weighted average shares outstanding	5,009,512	0
Warrants to Purchase Common Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Total of weighted average shares outstanding	711,895	1,188,147
Options to Purchase Common Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Total of weighted average shares outstanding	2,583,812	3,984,184

Debt_and_Interest_Additional_I

Debt and Interest - Additional Information (Detail) (USD $)	3 Months Ended					3 Months Ended		3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Feb. 13, 2014	Mar. 31, 2014	Mar. 31, 2013	Feb. 13, 2014
				Ovamed GmbH [Member]	Israel Discount Bank of New York [Member]	IDB Promissory Note Payable [Member]	IDB Promissory Note Payable [Member]	Hercules Note Payable [Member]	Hercules Note Payable [Member]	Hercules Note Payable [Member]
				Licensing Agreements [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'	'
Long-term Debt, Gross	'	'	'	'	'	$14,000,000	$14,000,000	'	'	$13,200,000
Debt Instrument, Periodic Payment	'	'	'	'	'	'	'	14,000,000	'	'
Debt Instrument, Periodic Payment, Principal	'	'	'	'	'	'	'	13,200,000	'	'
Debt Instrument Term Charges	'	'	'	'	'	'	'	400,000	'	'
Debt Instrument, Fee Amount	'	'	'	'	'	'	'	'	'	300,000
Debt Instrument, Periodic Payment, Interest	'	'	'	'	'	'	'	100,000	'	'
Debt Instrument, Annual Principal Payment	'	'	'	'	'	'	'	500,000	'	'
Debt Instrument, Face Amount	'	'	'	'	15,000,000	'	'	'	'	'
Debt Instrument, Unused Borrowing Capacity, Amount	'	'	'	'	'	'	100,000	'	'	'
Interest Expense, Debt	966,000	476,000	'	'	'	42,000	'	845,000	438,000	'
Accretion of Discount	'	'	'	'	'	'	'	435,000	91,000	'
Amortization of Debt Discount (Premium)	'	'	'	'	'	'	'	44,000	5,000	'
Other Liabilities, Noncurrent	$1,066,000	'	$1,077,000	$716,000	'	'	'	'	'	'
Debt Instrument, Maturity Date	'	'	'	'	'	13-Feb-16	'	'	'	'
Debt Instrument, Interest Rate Terms	'The unpaid principal amount of each advance shall bear interest at a rate per annum equal to the rate payable on the Companys money market account of 0.75% plus a margin of 150 basis points.	'	'	'	'	'	'	'	'	'
Debt Instrument, Basis Spread on Variable Rate	0.75%	'	'	'	'	'	'	'	'	'
Debt Instrument, Description of Variable Rate Basis	'150	'	'	'	'	'	'	'	'	'

Property_and_Equipment_Compone

Property and Equipment - Components of Property and Equipment (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	$94	$467
Less: Accumulated depreciation	-25	-20
Property and equipment, net	69	447
Construction in Progress [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	0	373
Computer Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	13	13
Useful Life (Years)	'3 years	'
Furniture and Fixtures [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	69	69
Useful Life (Years)	'5 years	'
Leasehold Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	$12	$12
Useful Life (Years)	'5 years	'

Property_and_Equipment_Additio

Property and Equipment - Additional Information (Detail) (Woburn, MA Manufacturing Facility [Member], USD $)	3 Months Ended
	Mar. 31, 2014
Woburn, MA Manufacturing Facility [Member]	'
Property Plant And Equipment [Line Items]	'
Impairment of Long-Lived Assets to be Disposed of	$373,000

Accrued_Expenses_and_Other_Lon2

Accrued Expenses and Other Long-Term Liabilities - Components of Accrued Expenses and Other Long-Term Liabilities (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Accrued expenses:	'	'
Salaries, bonuses and related benefits	$272	$450
Severance	993	1,502
Professional fees	280	351
Research and development expenses	1,043	1,245
State franchise taxes	0	190
Ovamed manufacturing rights - short-term component	500	500
Lease Impairment	165	0
Other	185	192
Total accrued expenses	3,438	4,430
Other long-term liabilities:	'	'
Hercules Note end of term charge	0	398
Ovamed manufacturing rights - long-term component	716	679
Long-term impairment charge	350	0
Total other long-term liabilities	$1,066	$1,077

Accrued_Expenses_and_Other_Lon3

Accrued Expenses and Other Long-Term Liabilities - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Schedule Accrued Expenses And Other Long-Term Liabilities [Line Items]	'	'	'
Payments for Rent	$400,000	'	'
Rental Income, Nonoperating	100,000	'	'
Operating Leases, Rent Expense	700,000	'	'
Impairment of Long-Lived Assets Held-for-use	300,000	'	'
Other Accrued Liabilities Current	185,000	'	192,000
Asset Retirement Obligation, Accretion Expense	37,000	33,000	'
Operating Leases, Rent Expense, Sublease Rentals	100,000	'	'
Ovamed Manufacturing Rights [Member]	'	'	'
Schedule Accrued Expenses And Other Long-Term Liabilities [Line Items]	'	'	'
Other Accrued Liabilities Current	500,000	'	'
Other Accrued Liabilities, Noncurrent	716,000	'	'
Woburn MA facility [Member]	'	'	'
Schedule Accrued Expenses And Other Long-Term Liabilities [Line Items]	'	'	'
Lease Expiration Date	28-Feb-18	'	'
Lease Expiration Period	'2018	'	'
New York NY Office Space [Member]	'	'	'
Schedule Accrued Expenses And Other Long-Term Liabilities [Line Items]	'	'	'
Lease Expiration Date	31-May-16	'	'
Lease Expiration Period	'2016	'	'
Ovamed [Member]	'	'	'
Schedule Accrued Expenses And Other Long-Term Liabilities [Line Items]	'	'	'
Other Liabilities Related To Manufacturing Rights	1,500,000	'	'
Lease Agreements [Member]	'	'	'
Schedule Accrued Expenses And Other Long-Term Liabilities [Line Items]	'	'	'
Other Research and Development Expense	800,000	'	'
Chief Medical Officer [Member]	'	'	'
Schedule Accrued Expenses And Other Long-Term Liabilities [Line Items]	'	'	'
Severance Costs	400,000	'	'
Payments for Postemployment Benefits	$1,000,000	'	'

TSO_Additional_Information_Det

TSO - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2014	Feb. 22, 2013	Feb. 22, 2013
	Contract Termination [Member]	Joint Ownership and Exclusive License Agreement Fu Berlin [Member]	Joint Ownership and Exclusive License Agreement Fu Berlin [Member]
	USD ($)	Research and Development Arrangement [Member]	Research and Development Arrangement [Member]
		USD ($)	EUR (€)
Long-term Purchase Commitment [Line Items]	'	'	'
Research Fees To Be Paid Under Agreement	'	$843,000	€ 648,000
Other Research and Development Expense	$235,000	'	'

Fair_Value_Hierarchy_Financial

Fair Value Hierarchy Financial Instruments Measured at Fair Value on a Recurring Basis (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long-Term Investment, at fair value	$250	$0
Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long-Term Investment, at fair value	0	'
Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long-Term Investment, at fair value	0	'
Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long-Term Investment, at fair value	$250	'

Changes_in_Fair_Value_of_Finan

Changes in Fair Value of Financial Instruments (Detail) (Investments [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Investments [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Balance	$0
Purchases	250
Total unrealized (gains) or losses	0
Balance	$250

Investment_at_Fair_Value_Addit

Investment at Fair Value - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 17, 2014
Investment [Line Items]	'	'
Equity Method Investment Ownership Percentage	100.00%	'
Argus Neurooptics LLC [Member]	'	'
Investment [Line Items]	'	'
Equity Method Investments	'	$250,000
Equity Method Investment Ownership Percentage	'	35.00%
Percentage of Revenue Share Amount	5.00%	'
Argus Neurooptics LLC [Member] \| Class A Preferred Stock [Member]	'	'
Investment [Line Items]	'	'
Shares Received Under Purchase Agreement	13,409,962	'
Percentage of Shares Received Under Purchase Agreement	83.00%	'
Shares Reserved Under Purchase Agreement	16,091,954	'

Common_Stock_Employee_Stock_Pu

Common Stock - Employee Stock Purchase Programs (Detail) (USD $)	3 Months Ended		93 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Total stock-based compensation expense	$1,135	$1,523	$14,549
Employee Awards [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Total stock-based compensation expense	1,122	972	9,194
Non-Employee Awards [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Total stock-based compensation expense	13	434	4,323
Non-Employee Warrants [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Total stock-based compensation expense	$0	$117	$1,032

Common_Stock_Stock_Option_Acti

Common Stock - Stock Option Activity (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Number of Shares, At December 31, 2013	3,117,777
Number of Shares, Options granted	0
Number of Shares, Options exercised	-256,745
Number of Shares, Options cancelled	-600,000
Number of Shares, At March 31, 2014	2,261,032
Number of Shares, Options vested and expected to vest	2,261,032
Number of Shares, Options vested and exercisable	1,492,699
Weighted Average Exercise Price, At December 31, 2013	$4.31
Weighted Average Exercise Price, Options granted	$0
Weighted Average Exercise Price, Options exercised	$1.88
Weighted Average Exercise Price, Options cancelled	$4.39
Weighted Average Exercise Price, At March 31, 2014	$4.57
Weighted Average Exercise Price, Options vested and expected to vest	$4.57
Weighted Average Exercise Price, Options vested and exercisable	$4.24
Total Weighted Average Intrinsic Value, Options exercised	$26
Weighted Average Remaining Contractual Life, At December 31, 2013	'8 years 4 months 10 days
Weighted Average Remaining Contractual Life, At March 31, 2014	'8 years 2 months 12 days
Weighted Average Remaining Contractual Life, Options vested and expected to vest	'8 years 2 months 12 days
Weighted Average Remaining Contractual Life, Options vested and exercisable	'7 years 9 months 25 days

Common_Stock_Restricted_Stock_

Common Stock - Restricted Stock Activity (Detail) (Restricted Stock [Member], USD $)	3 Months Ended
	Mar. 31, 2014
Restricted Stock [Member]	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Number of Shares, Unvested balance at December 31, 2013	3,958,692
Number of Shares, Restricted stock granted	4,343,692
Number of Shares, Unvested balance at March 31, 2014	8,302,384
Weighted Average Grant Date Fair Value, Unvested balance at December 31, 2013	$1.93
Weighted Average Grant Date Fair Value, Restricted stock granted	$2.69
Weighted Average Grant Fair Value, Unvested balance at March 31, 2014	$2.33

Common_Stock_Additional_Inform

Common Stock - Additional Information (Detail) (USD $)

1 Months Ended

3 Months Ended

93 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

93 Months Ended

3 Months Ended

93 Months Ended

Apr. 30, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Feb. 28, 2014

Dec. 19, 2013

Mar. 31, 2014

Dec. 31, 2013

Feb. 20, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Feb. 20, 2014

Mar. 31, 2014

Feb. 20, 2014

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Executive Vice Chairman [Member]

Director [Member]

Board Of Directors [Member]

Research and Development Expense [Member]

General and Administrative Expense [Member]

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Issuance, Maximum Amount Of Proceeds Approved

$45,000,000

Audit Costs

32,000

Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options

2,400,000

Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options

18,500,000

Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options Period For Recognition

'1 year 2 months 12 days

Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Other Than Options Period For Recognition

'3 years 9 months 18 days

Stock Issued During Period Shares warrants Exercised

8,415

CashLess Exercise Of Warrants

18,724

Warrants Exercise Price

$4.97

Employee Benefits And Share Based Compensation

1,135,000

1,523,000

14,549,000

400,000

800,000

7,900,000

800,000

700,000

6,600,000

Officers Compensation

28,275

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

3,958,692

1,979,346

30,000

50,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value

10,600,000

3,800,000

500,000

Share Price

$1.93

$2.69

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

10.00%

16.67%

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

'5 years

'3 years

Stock Issued During Period, Value, Restricted Stock Award, Gross

$80,700

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], Related Party Service Agreement [Member], USD $)	3 Months Ended
	Mar. 31, 2014
Subsequent Event [Member] \| Related Party Service Agreement [Member]	'
Subsequent Event [Line Items]	'
Operating Costs and Expenses, Total	$11,000