Kythera Biopharmaceuticals (KYTH) Inactive 10-Q14 Nov 132013 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2013	Oct. 15, 2013
Document and Entity Information	'	'
Entity Registrant Name	'KYTHERA BIOPHARMACEUTICALS INC	'
Entity Central Index Key	'0001436304	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	21,400,605
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

Condensed_Balance_Sheets

Condensed Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current assets:	'	'
Cash and cash equivalents	$25,186,000	$79,311,000
Restricted cash, current portion	9,681,000	7,657,000
Marketable securities	28,856,000	'
Deferred transaction costs	354,000	'
Prepaid expenses and other current assets	414,000	621,000
Total current assets	64,491,000	87,589,000
Property and equipment, net	121,000	275,000
Restricted cash-net of current portion	'	8,321,000
Other assets	37,000	37,000
Total assets	64,649,000	96,222,000
Current liabilities:	'	'
Accounts payable	1,512,000	2,152,000
Accrued personnel costs	2,224,000	2,173,000
Accrued costs for services	5,675,000	4,862,000
Accrued interest	233,000	22,000
Note payable, current portion	5,403,000	1,160,000
Deferred development funds, current portion	5,175,000	5,853,000
Total current liabilities	20,222,000	16,222,000
Deferred rent	10,000	9,000
Deferred development funds-net of current portion	'	8,321,000
Note payable-net of current portion	7,407,000	2,764,000
Total liabilities	27,639,000	27,316,000
Commitments and contingencies	'	'
Stockholders' equity:	'	'
Common stock, $0.00001 par value, 300,000,000 shares authorized, 18,774,000 and 18,325,000 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	'	'
Additional paid in capital	195,195,000	189,212,000
Accumulated other comprehensive income	14,000	'
Accumulated deficit	-158,199,000	-120,306,000
Total stockholders' equity	37,010,000	68,906,000
Total liabilities and stockholders' equity	$64,649,000	$96,222,000

Condensed_Balance_Sheets_Paren

Condensed Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	18,774,000	18,325,000
Common stock, shares outstanding	18,774,000	18,325,000

Condensed_Statements_of_Operat

Condensed Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Condensed Statements of Operations and Comprehensive Loss	'	'	'	'
License income	'	'	'	$19,687,000
Sublicense expense	'	'	'	1,936,000
Gross margin	'	'	'	17,751,000
Operating expenses:	'	'	'	'
Research and development	6,970,000	13,923,000	24,770,000	28,808,000
General and administrative	4,034,000	2,439,000	11,732,000	7,102,000
Total operating expenses	11,004,000	16,362,000	36,502,000	35,910,000
Loss from operations	-11,004,000	-16,362,000	-36,502,000	-18,159,000
Interest income	32,000	'	95,000	'
Interest expense	-537,000	-78,000	-1,486,000	-182,000
Warrant and other income (expense), net	'	54,000	'	-422,000
Net loss	-11,509,000	-16,386,000	-37,893,000	-18,763,000
Other comprehensive (loss) income:	'	'	'	'
Unrealized gain on marketable securities	45,000	'	14,000	'
Comprehensive loss	($11,464,000)	($16,386,000)	($37,879,000)	($18,763,000)
Per share information:	'	'	'	'
Net loss, basic and diluted (in dollars per share)	($0.62)	($11.41)	($2.05)	($13.21)
Basic and diluted weighted average shares outstanding (in shares)	18,666,000	1,436,000	18,476,000	1,420,000

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	9 Months Ended
Condensed Statements of Cash Flows (USD $)	Sep. 30, 2013	Sep. 30, 2012
Operating activities	'	'
Net loss	($37,893,000)	($18,763,000)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Amortization of premium on marketable securities	382,000	'
Amortization of debt issuance cost	255,000	183,000
Depreciation	196,000	442,000
Revaluation of redeemable convertible preferred stock warrants	'	422,000
Stock-based compensation	4,804,000	1,423,000
Changes in assets and liabilities:	'	'
Prepaid expenses and other current assets	369,000	-41,000
Restricted cash	6,297,000	-9,905,000
Deferred licensor payment	'	352,000
Other assets	'	-6,000
Accounts payable and other accrued liabilities	435,000	1,021,000
Deferred revenue	'	-3,847,000
Deferred development funds	-8,999,000	10,392,000
Deferred payable to licensor	'	1,268,000
Deferred rent	1,000	1,000
Net cash used in operating activities	-34,153,000	-17,058,000
Investing activities	'	'
Purchases of marketable securities	-32,386,000	'
Proceeds from sales of marketable securities	3,000,000	'
Investment in property and equipment	-42,000	-147,000
Net cash used in investing activities	-29,428,000	-147,000
Financing activities	'	'
Proceeds from common stock option exercises	1,179,000	75,000
Borrowings on credit facility	10,000,000	'
Repayment of note payable	-1,369,000	'
Deferred transaction costs	-354,000	-2,367,000
Net cash provided by (used in) financing activities	9,456,000	-2,292,000
Net decrease in cash and cash equivalents	-54,125,000	-19,497,000
Cash and cash equivalents at beginning of period	79,311,000	34,577,000
Cash and cash equivalents at end of period	25,186,000	15,080,000
Supplemental disclosures	'	'
Issuance of common stock for services rendered	101,000	43,000
Interest expense paid in cash	1,020,000	'
Issuance of redeemable convertible preferred stock warrants for senior loan facility commitment	'	534,000
Issuance of redeemable convertible preferred stock for licensor payment	'	$158,000

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Sep. 30, 2013
Organization and Basis of Presentation	'
Organization and Basis of Presentation	'
	1. Organization and Basis of Presentation

	KYTHERA Biopharmaceuticals, Inc. (“KYTHERA” or the “Company”) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel prescription products for the aesthetic medicine market. The Company’s objective is to develop first-in-class, prescription aesthetic products using an approach that relies on the scientific rigor of biotechnology to address unmet needs in the rapidly-growing market for aesthetic medicine. The Company’s initial focus is on the facial aesthetics market, which comprises the majority of the aesthetics medicine market. The Company’s product candidate, ATX-101, is a potential first-in-class, injectable drug in late stage clinical development for the reduction of submental fat, which commonly presents as an undesirable “double chin.”

	KYTHERA was originally incorporated in Delaware in June 2004 under the name Dermion, Inc. It commenced operations in August 2005 and its name was changed to AESTHERx, Inc. In July 2006, the Company changed its name to KYTHERA Biopharmaceuticals, Inc.

	Since commencement of operations in August 2005, the Company has devoted substantially all its efforts to the development of ATX-101, recruiting personnel and raising capital. In 2010, the Company entered into a License Agreement with Bayer Consumer Care AG and a Services, Research, Development and Collaboration Agreement with Bayer’s Affiliate, Intendis GmbH, collectively referred to as the collaboration arrangement with Bayer. Bayer Consumer Care AG and Intendis GmbH are referred to jointly as Bayer.

	The information included in this quarterly report on Form 10-Q should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2012 and in the Company’s Quarterly Reports on Form 10-Q/A for the periods ended June 30, 2013 and March 31, 2013 filed with the Securities Exchange Commission (“SEC”).

	In October 2013, the Company sold 2,622,950 shares of common stock, $0.00001 par value per share, in an underwritten public offering at a price to the public of $45.75 per share. In November 2013, the underwriters purchased an additional 297,042 shares of common stock pursuant to their option to purchase additional shares. The Company received aggregate net proceeds of approximately $125.0 million, after deducting the underwriting discounts and offering related transaction costs. The accompanying financial statements, including share and per share amounts, do not include the effects of this public offering. The shares were issued pursuant to registration statement on Form S-1, as amended and supplemented (File No. 333-191450).

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies	'
Summary of Significant Accounting Policies	'
	2. Summary of Significant Accounting Policies

	There have been no material changes to the Company’s significant accounting policies during the nine months ended September 30, 2013 as compared to the significant accounting policies described in the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K/A filed with the SEC for the year ended December 31, 2012.

	The accompanying financial information for the three and nine months ended September 30, 2013 and 2012 are unaudited. These unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP and applicable rules and regulations of the SEC regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the unaudited interim condensed financial statements have been prepared on the same basis as the audited financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2012, and include all adjustments, which include only normal recurring adjustments necessary for the fair presentation of our statement of financial position as of September 30, 2013, our statements of operations and comprehensive loss for the three and nine months ended September 30, 2013 and 2012 and our statements of cash flows for the nine months ended September 30, 2013 and 2012. The results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results expected for the full fiscal year or any other period(s).

	Restatement

	In September 2013, the Company determined that restatements were required to several previously reported basic and diluted net income (loss) per share amounts for periods prior to and including December 31, 2012 due to an error in the computation. The Company’s Annual Report on Form 10-K/A for the year ended December 31, 2012 and Quarterly Reports on Form 10-Q/A for the quarters ended June 30, 2013 and March 31, 2013 were filed with the SEC on September 27, 2013 to reflect the restated basic and diluted net income (loss) per share amounts for such periods. The restatement had no impact on the Company’s balance sheets, net loss or the statements of cash flows or stockholders’ equity (deficit) for any of the above mentioned periods. For a more detailed explanation of the restatements, please refer to such filings. No periods reflected in this Quarterly Report on Form 10Q have been restated.

	Reclassifications

	Certain prior year amounts have been reclassified to conform to the current year presentation.

	Use of Estimates

	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements.

	Cash, Cash Equivalents and Marketable Securities

	All highly liquid securities with maturities of 90 days or less from the date of purchase are considered to be cash equivalents. As of September 30, 2013 and December 31, 2012, cash and cash equivalents were comprised of funds invested in cash and money market accounts. The Company maintains cash balances in excess of amounts insured by the FDIC. The accounts are monitored by management to mitigate the risk.

	Investments with maturities of more than 90 days from the date of purchase are considered marketable securities. Marketable securities are stated at fair value. The Company has classified its marketable securities portfolio as available-for-sale securities. Accordingly, any unrealized gain or loss on the investments is reported as a component of accumulated other comprehensive income (loss). The amortized cost of these securities is adjusted for amortization of premiums and accretion of discounts to maturity, as applicable. Such amortizations and accretions are included as a component of interest income. The entire marketable securities portfolio is considered available for use in current operations and, accordingly, all such investments are considered current assets although the stated maturity of individual investments may be one year or more beyond the balance sheet date.

	Realized gains and losses, determined on a specific identification basis, and declines in value, if any, judged to be other-than-temporary on available-for-sale securities are reported as a component of interest income. When securities are sold, any associated unrealized gain or loss previously reported in accumulated other comprehensive income (loss) is reclassified out of stockholders’ equity and recorded in the statement of operations and comprehensive loss for the period. Accrued interest and dividends are included in interest income.

	The Company reviews the available-for-sale securities for other-than-temporary declines in fair value below the cost basis whenever events or changes in the circumstances indicate that the carrying amount of an asset may not be recoverable each quarter. If the Company concludes that an other-than-temporary impairment exists, it recognizes an impairment charge to reduce the investment to fair value and records the related charge as a reduction of interest income. No impairment was recognized for the three and nine months ended September 30, 2013 and 2012.

	Property and Equipment

	Property and equipment are recorded at historical cost and consisted of the following:

		September 30,			December 31,
		2013			2012
	Cameras	$	923,000		$	923,000
	Computer hardware and electronics	182,000			147,000
	Furniture and fixtures	234,000			227,000
	Software	21,000			21,000
		1,360,000			1,318,000
	Less accumulated depreciation	(1,239,000		)	(1,043,000		)
		$	121,000		$	275,000

	Depreciation is recorded using the straight-line method over the estimated useful lives of the assets (one to five years). The Company reviews its property and equipment assets for impairment in value whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company had no disposals during the nine months ended September 30, 2013 and 2012.

	Cameras were used in our clinical trials, are fully depreciated as of September 30, 2013 and are being held for disposal.

	Comprehensive (Loss) Income

	Comprehensive (loss) income is comprised of net (loss) income and other comprehensive income or loss. The only components of accumulated other comprehensive income or loss are unrealized gains and losses on marketable securities. There were no reclassifications out of accumulated other comprehensive income during the three and nine months ended September 30, 2013 and 2012.

	Deferred Transaction Costs

	Deferred transaction costs reflect costs incurred related to our public offering in October 2013, which will be offset against the transaction proceeds.

	Fair Value of Financial Instruments

	The carrying amounts reported in the accompanying financial statements for accounts payable and accrued liabilities approximate their fair value because of the short-term nature of these accounts. The fair value of cash equivalents, marketable securities and the note payable are discussed in Note 8, “Fair Value Measurements.”

	Recent Accounting Pronouncements

	In July 2013, a new accounting standard was issued that requires companies to present in the financial statements an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent the tax benefit is not available at the reporting date under the governing tax law or if the entity does not intend to use the deferred tax asset for such purpose, the unrecognized tax benefit should be presented as a liability and not combined with deferred tax assets. The standard is required to be adopted prospectively beginning on January 1, 2014 and may be applied retrospectively to each prior reporting period presented. The Company does not believe its adoption will have a material impact on the Company’s financial statements and related disclosures.

Marketable_Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2013
Marketable Securities	'
Marketable Securities	'
	3. Marketable Securities

	Our marketable securities held as of September 30, 2013 are summarized below:

		Amortized		Gross		Gross			Estimated
		Cost		Unrealized		Unrealized			Fair
				Gains		Losses			Value
	U.S. government agency securities	$	2,000,000	$	3,000	$	—		$	2,003,000
	Corporate debt securities:
	Financial	19,804,000		11,000		(2,000		)	19,813,000
	Industrial	5,019,000		2,000		—			5,021,000
	Other	2,019,000		1,000		(1,000		)	2,019,000
	Total available-for-sale securities	$	28,842,000	$	17,000	$	(3,000	)	$	28,856,000

	There were no material realized gains or losses from the sale of marketable securities during the three and nine months ended September 30, 2013 or 2012.

	The maturities of our marketable securities as of September 30, 2013 are as follows:

		Amortized		Estimated Fair
		Cost		Value
	Mature in one year or less	$	21,658,000	$	21,664,000
	Mature after one year through two years	7,184,000		7,192,000
		$	28,842,000	$	28,856,000

Bridge_Financing

Bridge Financing	9 Months Ended
Bridge Financing	Sep. 30, 2013
Bridge Financing	'
Bridge Financing	'
	4. Bridge Financing

	In connection with a Bridge financing in 2006, the Company issued warrants exercisable for approximately 243,000 shares of Series B redeemable convertible preferred stock (“Series B Preferred”) at an exercise price of $7.6055 per share.

	Prior to the Company’s initial public offering (“IPO”) in October 2012, the Company classified the warrants as a liability and re-measured the liability to estimated fair value at September 30, 2012 using the Black-Scholes option pricing model under the following assumptions: contractual life according to the remaining terms of the warrants, no dividend yield, risk-free interest rate of 0.11%, and volatility of 45%.

	The increase in the fair value of the warrants from issuance through our IPO in October of 2012, totaled $1,205,000 and was recorded in warrant and other income (expense), net, and included income of $32,000 and expense of $349,000 in the statements of operations and comprehensive loss for the three and nine months ended September 30, 2012, respectively. Effective immediately prior to the closing of the Company’s IPO in October of 2012, the warrants for convertible preferred stock became warrants for common stock and their carrying value was reclassified to stockholders’ equity. All but warrants to purchase 178 shares of common stock were exercised during 2012, with the remaining warrants being exercised in January 2013, resulting in the net issuance of an aggregate of 153,000 shares of common stock.

Note_Payable

Note Payable	9 Months Ended
Note Payable	Sep. 30, 2013
Note Payable	'
Note Payable	'
	5. Note Payable

	On March 21, 2011, the Company executed a debt financing agreement whereby the Company had access to borrow up to $15,000,000 of senior loan financing through January 1, 2012. On December 30, 2011, the Company amended its credit facility to provide for an extension of its drawdown period through December 1, 2012, provided that it had drawn down at least $5,000,000 as of August 1, 2012. On July 23, 2012, the Company obtained an additional 60 day extension to the initial drawdown date from August 1, 2012 to October 1, 2012. For each draw, the Company shall make six months of interest only payments at a fixed rate of 11.5% followed by 30 months of interest and principal payments at a fixed rate of 8.5% and a final payment of 6% of the amount drawn. Interest expense related to the note payable is being recorded on a straight-line basis over the term of the note utilizing the effective interest method. The debt is secured by all the Company’s assets, except for the Company’s intellectual property, which is subject to a negative pledge agreement.

	Upon entry into the agreement, the Company issued warrants to purchase 34,000 shares of Series C redeemable convertible preferred stock (“Series C Preferred”) at an exercise price of $13.3530. The estimated fair value of the warrants at issuance of approximately $345,000 was recorded as a deferred financing cost offsetting the note payable liability and is being amortized to interest expense over the expected term of the loan.

	Upon extension of the credit facility in December 2011, the Company issued a warrant to purchase up to an additional 86,000 shares of its Series D redeemable convertible preferred stock (“Series D Preferred”) at an exercise price of $13.9040. The estimated fair value of the warrant at issuance of approximately $1,074,000 was recorded as a deferred financing cost offsetting the note payable liability and is being amortized to interest expense over the expected term of the loan. As of September 30, 2013 and December 31, 2012, $15,000,000 and $5,000,000 respectively had been drawn. There is no further borrowing capacity under this facility as of September 30, 2013.

	Effective immediately prior to the closing of the Company’s IPO, the warrants for convertible preferred stock became warrants for common stock and their carrying value was reclassified to stockholders’ equity. Prior to the IPO, the Company had classified the warrants as a liability and re-measured the liability to estimated fair value using the Black-Scholes option pricing model. Assumptions used to revalue the Series C Preferred warrants at September 30, 2012 were as follows: contractual life according to the remaining terms of the warrants, no dividend yield, risk-free interest rate of 1.34% and volatility of 75%. Assumptions used to revalue the Series D Preferred warrants at September 30, 2012 were as follows: contractual life according to the remaining terms of the warrants, no dividend yield, risk-free interest rate of 1.50% and volatility of 76%.

	The increase in the fair value of the Series C Preferred warrants from issuance in March 2011 through the IPO in October of 2012, totaled $55,000 and was recorded in warrant and other income (expense), net, in the statements of operations and comprehensive loss, and included income of $6,000 and expense of $91,000 for the three and nine months ended September 30, 2012, respectively. The decrease in value of the Series D Preferred warrant from issuance in December 2011 through the IPO in October of 2012 totaled $18,000 and was recorded in warrant and other income (expense), net, in the statements of operations and comprehensive loss, and included income of $16,000 and $18,000 for the three and nine months ended September 30, 2012, respectively.

	All warrants were exercised on a cashless basis in December of 2012 resulting in the net issuance of 49,000 shares of common stock.

	Included in interest expense for the three and nine months ended September 30, 2013 and 2012 was amortization of debt issuance costs of $85,000, $255,000, $79,000 and $183,000, respectively, and interest expense of $452,000 and $1,231,000 related to the note payable for the three and nine months ended September 30, 2013. No interest expense was recorded for the three and nine months ended September 30, 2012 as no amounts had yet been drawn under the credit facility. The balance of accrued interest expense at September 30, 2013 was $233,000. The remaining unamortized debt issuance cost at September 30, 2013 was $821,000.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2013
Stockholders' Equity	'
Stockholders' Equity	'
	6. Stockholders’ Equity

	Shares Reserved for Future Issuance

	Shares of the Company’s common stock reserved for future issuance are as follows:

		September 30,
		2013
	Common stock awards outstanding	2,312,000
	Common stock awards available for grant	371,000
	Total common shares reserved for future issuance	2,683,000

	Stock Awards

	In September 2012, the Company’s board of directors approved the 2012 Equity Incentive Award Plan (“the Plan”), which became effective upon completion of our IPO. The Plan provides for the granting of incentive and nonstatutory stock options, restricted stock, restricted stock units, stock appreciation rights, deferred stock, dividend equivalents, performance awards, stock payments and other stock-based and cash-based awards to its employees, directors, and consultants at the discretion of the compensation committee of the board of directors. The Plan is the successor to the Amended and Restated 2004 Stock Plan. Any remaining shares available for future issuance under the 2004 Stock Plan are available for issuance under the Plan. In addition, the plan reserve will automatically increase annually from January 1, 2013 through January 1, 2022 by an amount equal to the smaller of: (a) 1,512,687 shares, (b) four percent of the number of shares of common stock issued and outstanding on the immediately preceding December 31, or (c) an amount determined by the Company’s board of directors. As of September 30, 2013 and December 31, 2012, a total of 3,224,000 and 2,491,000 shares, respectively were authorized for grant under the Plan.

	Stock options may be granted with exercise prices not less than the fair market value of the Company’s common stock. Incentive stock options granted to individuals owning more than 10% of the total combined voting power of all classes of stock (“a 10% stockholder”) are exercisable up to five years from the date of grant. The Plan provides that the exercise price of any incentive stock option granted to a 10% stockholder cannot be less than 110% of the estimated fair value of the common stock on the date of grant. Except as set forth above, options granted under the Plan expire no later than ten years from the date of grant. Options granted to employees under the Plan vest over periods determined by the board of directors, generally over a period of one to four years. The Company has granted certain performance-based incentive stock option awards that vest based on the achievement of certain predetermined milestones. Prior to our IPO, the board of directors determined the estimated fair value of its common stock based on assistance from an independent third-party valuation. Since our IPO, the fair market value of our common stock is the closing share price as reported on the NASDAQ Global Select Market on the date of grant. The fair market value of the Company’s common stock was $45.59 and $30.34 at September 30, 2013 and December 31, 2012, respectively.

	The Company estimates the fair value of its stock-based awards to employees and directors using the Black-Scholes option pricing model. The Black-Scholes model requires the input of complex and subjective assumptions, including (a) the expected stock price volatility, (b) the calculation of expected term of the award, (c) the risk-free interest rate and (d) expected dividends. Due to the Company’s limited operating history and a lack of company specific historical and implied volatility data, the Company has based its estimate of expected volatility on the historical volatility of a group of similar companies that are publicly traded. When selecting these public companies on which it has based its expected stock price volatility, the Company selected companies with comparable characteristics to it, including enterprise value, risk profiles, position within the industry, and with historical public share price information sufficient to meet the expected life of the stock-based awards. The historical volatility data was computed using the daily closing prices for the selected companies’ shares during the equivalent period of the calculated expected term of the stock-based awards. The Company will continue to apply this process until a sufficient amount of historical information regarding the volatility of its own stock price in public markets becomes available. The Company has estimated the expected life of its employee stock options using the “simplified” method, whereby, the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to its lack of sufficient historical data. The risk-free interest rates for periods within the expected life of the option are based on the U.S. Treasury yield curve in effect during the period the options were granted. The Company has never paid, and does not expect to pay dividends in the foreseeable future.

	The Company is also required to estimate forfeitures at the time of grant, and revise those estimates in subsequent periods if actual forfeitures differ from its estimates. The Company uses historical data to estimate pre-vesting option forfeitures and record stock-based compensation expense only for those awards that are expected to vest. To the extent that actual forfeitures differ from the Company’s estimates, the difference is recorded as a cumulative adjustment in the period the estimates were revised. For the three and nine months ended September 30, 2013 and 2012, the Company applied forfeiture rates based on the Company’s historical forfeitures.

	Total equity-based compensation cost recorded in the statements of operations and comprehensive loss, which includes stock-based compensation expense and the value of stock and options issued to nonemployees for services is allocated as follows:

		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013			2012		2013		2012
	Research and development	$	1,376,000		$	212,000	$	2,852,000	$	578,000
	General and administrative	696,000			402,000		1,952,000		845,000
		$	2,072,000		$	614,000	$	4,804,000	$	1,423,000

	As of September 30, 2013, there was $12,739,000 of unrecognized compensation expense related to unvested employee stock award agreements, which is expected to be recognized over a weighted-average period of approximately 2.47 years. For stock option awards subject to graded vesting, the Company recognizes compensation cost on a straight-line basis over the service period for the entire award.

	A summary of stock award activity for the nine months ended September 30, 2013 is as follows:

		Number of		Weighted-
		Shares		Average
				Exercise Price

	Outstanding at December 31, 2012	1,956,000		$	5.86
	Granted	887,000		24.6
	Exercised	(444,000	)	2.66
	Cancelled	(87,000	)	15.5
	Outstanding at September 30, 2013	2,312,000		$	13.29

	The Company accounts for stock options issued to nonemployees using a fair value approach. The compensation costs of these arrangements are subject to re-measurement over the vesting terms as earned.

Collaborations_and_Contingenci

Collaborations and Contingencies	9 Months Ended
Collaborations and Contingencies	Sep. 30, 2013
Collaborations and Contingencies	'
Collaborations and Contingencies	'
	7. Collaborations and Contingencies

	Collaboration Arrangements

	From time to time, the Company enters into collaborative arrangements for its research and development and manufacturing activities. Each collaboration is unique in nature and the Company’s significant agreements are discussed below.

	Bayer

	In August 2010, the Company entered into a license agreement with Bayer Consumer Care AG that provides Bayer with an exclusive license to develop, manufacture and commercialize ATX-101 outside of the United States and Canada. In connection with the License Agreement the Company also entered into a related Services, Research, Development and Collaboration Agreement with Bayer’s affiliate, Intendis GmbH. These agreements are referred to jointly as the collaboration arrangement with Bayer, and Bayer Consumer Care AG and Intendis GmbH are referred to jointly as Bayer. In connection with the entry into the collaboration arrangement, Bayer paid the Company an upfront license fee of approximately $21,319,000 and approximately $22,247,000 for research and development to fund a portion of Bayer’s European Phase III clinical trials. The Company is eligible to receive up to approximately $297,000,000 for certain development, manufacturing, regulatory and commercialization contingent payments upon the achievement by Bayer of specified events under our collaborative arrangement, as well as escalating royalties from the mid- to high-teens on Bayer’s net product sales of ATX-101. The first contingent event-based payment of $15,800,000 was received on May 31, 2012, triggered by the completion of Bayer’s European Phase III clinical trials for ATX-101, the receipt of two consecutive validated manufacturing lots and Bayer’s subsequent decision to pursue continued development and seek regulatory approval of ATX-101. This amount was recorded as revenue upon receipt as all revenue recognition criteria had been met. At this time, Bayer also elected to pursue additional research and development activities related to ATX-101, which are distinct from the original development activities, and subsequently funded $17,400,000 for these additional Bayer development activities. This payment was recorded as restricted cash and deferred development funds and will be recognized as an offset to development expense as the restricted cash is utilized to fund Bayer’s development activities. The contingent event based payments the Company may receive from Bayer pursuant to its collaboration arrangement do not meet the definition of a milestone under applicable ASC guidance, as achievement of the triggering events for such payments is based on the performance of Bayer and not the Company. Therefore, the milestone method will not be applied to those payments.

	Bayer has the right to terminate the license agreement at any time upon advance notice of 180 days if Bayer determines that ATX-101 does not appear to be commercially viable or if there is a material change in circumstances that impacts the prospective profitability of ATX-101. The license agreement expires simultaneously with the expiration of royalties on a product-by-product/country-by-country basis, and expires in its entirety upon the expiration of royalties with respect to all products outside of the United States and Canada. Such royalties expire on the later of (i) the expiration of patent claims relating to ATX-101, (ii) the expiration of exclusivity extensions for ATX-101, or (iii) 15 years from the date of first commercial sale, each with respect to the relevant country. The royalty payments discussed above are subject to reduction in connection with, among other things, the entry into the market of certain products competitive to ATX-101. In the event a competitive product meeting certain qualifications is approved for sale and is actually and legally sold in a particular territory (in the case of the EU, any member country), the Company’s royalties on Bayer’s net sales of ATX-101 in that territory will be reduced from the mid- to high-teens to the low-single digits to low-teens depending upon the timing and territory of such competitive entry. Except with respect to the EU, the entry of a qualifying competitive product into one territory does not result in a reduction in the royalty payments applicable to Bayer’s net sales in other territories. Similarly, our royalties on Bayer’s net sales of ATX-101 would be reduced to the low- to mid-single digits, or eliminated entirely, in each country in which an approved generic is actually and legally sold in such country, depending on the timing and country of such generic entry. The license agreement may also be terminated by us upon Bayer commencing an action that challenges the validity of ATX-101-related patents or if Bayer ceases or abandons developing ATX-101 outside of the United States and Canada. The license agreement may also be terminated by either party in the event of a material breach by the other party.

	License fees received in connection with the entry into the collaboration agreement of $21,319,000 were deferred and recognized on a straight-line basis over the period of substantial involvement in collaboration activities that were required to be conducted relative to the upfront license fee and development funds received from Bayer. These activities were completed as of May 31, 2012.

	Amounts to fund collaboration efforts of $22,247,000 and $17,400,000 were recorded as restricted cash and deferred development funds and are recognized as an offset to research and development expenses as the restricted cash is utilized to fund development activities. Restricted cash and deferred development funds were presented as current and long-term on the condensed balance sheets and are based on the Company’s estimate of amounts that will be spent to fund development activities within the next 12 months. Amounts recognized as offsets to research and development expense were $3,006,000, $8,206,000, $1,769,000 and $8,311,000 for the three and nine months ended September 30, 2013 and 2012, respectively.

	The next contingent event-based payment is $39,600,000 and is subject to Bayer achieving regulatory approval of ATX-101 in the first of any major European country, which is defined as Germany, the United Kingdom, France, Spain or Italy. In addition, the Company is eligible to receive further payments upon the first commercial sales in two defined territories outside of the European Union (“EU”), if approved in those territories. The remaining contingent event payments are based on achieving certain net sales targets in Bayer’s territory in a calendar year.

	Los Angeles Biomedical Research Institute

	In August 2005, the Company entered into an exclusive license agreement with Los Angeles Biomedical Research Institute at Harbor/UCLA Medical Center, or LA Biomed, pursuant to which it obtained a worldwide exclusive license to practice, enforce and otherwise exploit certain patent rights related to the use of the active ingredient in ATX-101. The exclusive license requires the Company to pay LA Biomed a milestone payment of $500,000 upon receipt of marketing approval of ATX-101, as well as non-royalty sublicense fees equal to 10% of any sublicense income, up to a total of $5,000,000, 50% of which the Company may elect to satisfy through the issuance of capital stock. Additionally, upon commercialization of a licensed product or service, the Company is obligated to pay low- to mid- single digit royalties on net product sales of ATX-101 by it and Bayer. In August 2010, due to the receipt of the upfront license fee from Bayer, the Company incurred non-royalty sublicense fees of $1,950,000, which was deferred and was recognized as sublicense fee expense on a straight-line basis over the same period as the license income. During 2010, the Company made payments of cash and stock to LA Biomed totaling $390,000 related to the non-royalty sublicense fee incurred. The remainder of $1,560,000 was paid upon our IPO in 50% cash and 50% stock.

	Additionally, due to the receipt of the contingent event-based payment of $15,800,000 payable from Bayer on May 31, 2012, the Company incurred an additional non-royalty sublicense fee of $1,580,000 payable to LA Biomed, which was paid in 50% cash and 50% stock.

	Contingencies

	The Company may be subject to various litigation matters arising in the ordinary course of business from time to time. The Company is not subject to any currently pending legal matters or claims that would have a material adverse effect on its financial position, results of operations or cash flows.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements	'
Fair Value Measurements	'
	8. Fair Value Measurements

	The Company applies various valuation approaches in determining the fair value of its financial assets and liabilities within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is broken down into three levels based on the source of inputs as follows:

	Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access.

	Level 2—Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and models for which all significant inputs are observable, either directly or indirectly.

	Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

	The availability of observable inputs can vary among the various types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level input that is significant to the overall fair value measurement.

	At September 30, 2013 and December 31, 2012, the Company had cash equivalents comprised of U.S. Treasury securities money market accounts whose value is based using quoted market prices with no adjustments applied. Accordingly, these securities are classified as Level 1. U.S. Government agency securities and corporate debt securities are measured at fair value using Level 2 inputs. These securities are investment grade with maturity dates of two years or less from the balance sheet date. The Company reviews trading activity and pricing for these investments as of the measurement date. When sufficient quoted pricing for identical securities is not available, the Company uses market pricing and other observable market inputs for similar securities obtained from various third party data providers. These inputs represent quoted prices for similar assets in active markets or these inputs have been derived from observable market data. This approach results in the classification of these securities as Level 2 of the fair value hierarchy. The Company had no assets or liabilities classified as Level 3. There were no material re-measurements to fair value during the nine months ended September 30, 2013 and 2012 of financial assets and liabilities that are not measured at fair value on a recurring basis. There were no transfers of assets or liabilities between the fair value measurement levels during the nine months ended September 30, 2013 and 2012.

	The following fair value hierarchy table presents information about each major category of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012.

		Fair Value Measurement at September 30, 2013 Using:
		Quoted Prices		Significant		Significant		Balance as of
		in Active		Other		Unobservable		September 30,
		Markets for		Observable		Inputs		2013
		Identical		Inputs		(Level 3)
		Assets		(Level 2)
		(Level 1)
	Assets
	Cash equivalents	$	22,295,000	$	—	$	—	$	22,295,000
	U.S. government agency securities	—		2,003,000		—		2,003,000
	Corporate debt securities	—		26,853,000		—		$	26,853,000
	Total	$	22,295,000	$	28,856,000	$	—	$	51,151,000

		Fair Value Measurement at December 31, 2012 Using:
		Quoted Prices		Significant		Significant		Balance as of
		in Active		Other		Unobservable		December 31,
		Markets for		Observable		Inputs		2012
		Identical		Inputs		(Level 3)
		Assets		(Level 2)
		(Level 1)
	Assets:
	Cash equivalents	$	71,316,000	$	—	$	—	$	71,316,000
	Total	$	71,316,000	$	—	$	—	$	71,316,000

	The fair values of cash equivalents, accounts payable and accrued liabilities approximate their carrying values due to the short-term nature of these accounts. Based on the borrowing rates currently available to the Company for debt with similar terms and consideration of default and credit risk, the carrying value of the note payable approximates its fair value.

Income_Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2013
Income Taxes	'
Income Taxes	'
	9. Income Taxes

	There is no provision for income taxes because the Company has incurred operating losses since inception. At September 30, 2013 the Company has concluded that it is more likely than not that the Company may not realize the benefit of its deferred tax assets due to its history of losses. Accordingly, the net deferred tax assets have been fully reserved.

	As of September 30, 2013, the Company does not have any accrued interest or penalties related to uncertain tax positions. The Company’s policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. The Company does not have any interest or penalties related to uncertain tax positions in income tax expense for the three and nine months ended September 30, 2013 and 2012. The tax years 2005 through 2012 remain open to examination by the major taxing jurisdictions to which the Company is subject.

Basic_and_Diluted_Net_Loss_Per

Basic and Diluted Net Loss Per Common Share	9 Months Ended
Basic and Diluted Net Loss Per Common Share	Sep. 30, 2013
Basic and Diluted Net Loss Per Common Share	'
Basic and Diluted Net Loss Per Common Share	'
	10. Basic and Diluted Net Loss Per Common Share

	Basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period, excluding the dilutive effects of redeemable convertible preferred stock, warrants to purchase redeemable convertible preferred stock and outstanding options. Diluted net loss per common share is computed by dividing the net loss by the sum of the weighted average number of common shares outstanding during the period plus if dilutive, the effects of redeemable convertible preferred stock, warrants to purchase redeemable convertible preferred stock and options outstanding during the period calculated in accordance with the treasury stock method. Because the impact of these potentially dilutive securities was anti-dilutive during all periods presented, there was no difference between basic and diluted loss per common share for the three and nine months ended September 30, 2013 and 2012.

	The calculation of weighted average diluted shares outstanding excludes the dilutive effect of redeemable convertible preferred stock, warrants to purchase redeemable convertible preferred stock and options to purchase common stock, as the impact of such items are anti-dilutive during periods of net loss. Shares excluded from the calculation, prior to the use of the treasury stock method, unweighted, were 2,312,000 and 13,806,000 at September 30, 2013 and 2012, respectively.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events	'
Subsequent Events	'
	11. Subsequent Events

	Public Offering

	On October 15, 2013, the Company completed its offering of 2,622,950 shares of common stock at an offering price of $45.75 per share. On November 12, 2013, the underwriters purchased an additional 297,042 shares of common stock pursuant to their option to purchase additional shares. The Company received aggregate net proceeds of approximately $125.0 million, after deducting the underwriting discounts and offering related transaction costs. The financial statements as of September 30, 2013, including share and per share amounts, do not include the effects of the offering.

	The table below shows, on a pro forma basis, the impact of the Company’s offering on certain condensed balance sheet items. The as adjusted condensed balance sheet data below gives effect to the sale of 2,919,992 shares of common stock from the offering at the public offering price of $45.75 per share, after deducting the underwriting discounts and commissions and offering related transaction expenses.

		As of September 30, 2013
		Actual			As Adjusted
	Balance Sheet Data:
	Cash, cash equivalents and marketable securities	$	54,042,000		$	179,016,000
	Working capital	44,269,000			169,243,000
	Total assets	64,649,000			189,623,000
	Accumulated deficit	(158,199,000		)	(158,199,000		)
	Total stockholders’ equity	$	37,010,000		$	161,984,000

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies	'
Restatement	'
	Restatement

	In September 2013, the Company determined that restatements were required to several previously reported basic and diluted net income (loss) per share amounts for periods prior to and including December 31, 2012 due to an error in the computation. The Company’s Annual Report on Form 10-K/A for the year ended December 31, 2012 and Quarterly Reports on Form 10-Q/A for the quarters ended June 30, 2013 and March 31, 2013 were filed with the SEC on September 27, 2013 to reflect the restated basic and diluted net income (loss) per share amounts for such periods. The restatement had no impact on the Company’s balance sheets, net loss or the statements of cash flows or stockholders’ equity (deficit) for any of the above mentioned periods. For a more detailed explanation of the restatements, please refer to such filings. No periods reflected in this Quarterly Report on Form 10Q have been restated.
Reclassifications	'
	Reclassifications

	Certain prior year amounts have been reclassified to conform to the current year presentation.
Use of Estimates	'
	Use of Estimates

	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements.
Cash, Cash Equivalents and Marketable Securities	'
	Cash, Cash Equivalents and Marketable Securities

	All highly liquid securities with maturities of 90 days or less from the date of purchase are considered to be cash equivalents. As of September 30, 2013 and December 31, 2012, cash and cash equivalents were comprised of funds invested in cash and money market accounts. The Company maintains cash balances in excess of amounts insured by the FDIC. The accounts are monitored by management to mitigate the risk.

	Investments with maturities of more than 90 days from the date of purchase are considered marketable securities. Marketable securities are stated at fair value. The Company has classified its marketable securities portfolio as available-for-sale securities. Accordingly, any unrealized gain or loss on the investments is reported as a component of accumulated other comprehensive income (loss). The amortized cost of these securities is adjusted for amortization of premiums and accretion of discounts to maturity, as applicable. Such amortizations and accretions are included as a component of interest income. The entire marketable securities portfolio is considered available for use in current operations and, accordingly, all such investments are considered current assets although the stated maturity of individual investments may be one year or more beyond the balance sheet date.

	Realized gains and losses, determined on a specific identification basis, and declines in value, if any, judged to be other-than-temporary on available-for-sale securities are reported as a component of interest income. When securities are sold, any associated unrealized gain or loss previously reported in accumulated other comprehensive income (loss) is reclassified out of stockholders’ equity and recorded in the statement of operations and comprehensive loss for the period. Accrued interest and dividends are included in interest income.

	The Company reviews the available-for-sale securities for other-than-temporary declines in fair value below the cost basis whenever events or changes in the circumstances indicate that the carrying amount of an asset may not be recoverable each quarter. If the Company concludes that an other-than-temporary impairment exists, it recognizes an impairment charge to reduce the investment to fair value and records the related charge as a reduction of interest income. No impairment was recognized for the three and nine months ended September 30, 2013 and 2012.
Property and Equipment	'
	Property and Equipment

	Property and equipment are recorded at historical cost and consisted of the following:

		September 30,			December 31,
		2013			2012
	Cameras	$	923,000		$	923,000
	Computer hardware and electronics	182,000			147,000
	Furniture and fixtures	234,000			227,000
	Software	21,000			21,000
		1,360,000			1,318,000
	Less accumulated depreciation	(1,239,000		)	(1,043,000		)
		$	121,000		$	275,000

	Depreciation is recorded using the straight-line method over the estimated useful lives of the assets (one to five years). The Company reviews its property and equipment assets for impairment in value whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company had no disposals during the nine months ended September 30, 2013 and 2012.

	Cameras were used in our clinical trials, are fully depreciated as of September 30, 2013 and are being held for disposal.
Comprehensive (Loss) Income	'
	Comprehensive (Loss) Income

	Comprehensive (loss) income is comprised of net (loss) income and other comprehensive income or loss. The only components of accumulated other comprehensive income or loss are unrealized gains and losses on marketable securities. There were no reclassifications out of accumulated other comprehensive income during the three and nine months ended September 30, 2013 and 2012.
Deferred Transaction Costs	'
	Deferred Transaction Costs

	Deferred transaction costs reflect costs incurred related to our public offering in October 2013, which will be offset against the transaction proceeds.
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments

	The carrying amounts reported in the accompanying financial statements for accounts payable and accrued liabilities approximate their fair value because of the short-term nature of these accounts. The fair value of cash equivalents, marketable securities and the note payable are discussed in Note 8, “Fair Value Measurements.”
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements

	In July 2013, a new accounting standard was issued that requires companies to present in the financial statements an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent the tax benefit is not available at the reporting date under the governing tax law or if the entity does not intend to use the deferred tax asset for such purpose, the unrecognized tax benefit should be presented as a liability and not combined with deferred tax assets. The standard is required to be adopted prospectively beginning on January 1, 2014 and may be applied retrospectively to each prior reporting period presented. The Company does not believe its adoption will have a material impact on the Company’s financial statements and related disclosures.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies	'
Schedule of property and equipment recorded at historical cost	'
		September 30,			December 31,
		2013			2012
	Cameras	$	923,000		$	923,000
	Computer hardware and electronics	182,000			147,000
	Furniture and fixtures	234,000			227,000
	Software	21,000			21,000
		1,360,000			1,318,000
	Less accumulated depreciation	(1,239,000		)	(1,043,000		)
		$	121,000		$	275,000

Marketable_Securities_Tables

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2013
Marketable Securities	'
Schedule of marketable securities held	'
		Amortized		Gross		Gross			Estimated
		Cost		Unrealized		Unrealized			Fair
				Gains		Losses			Value
	U.S. government agency securities	$	2,000,000	$	3,000	$	—		$	2,003,000
	Corporate debt securities:
	Financial	19,804,000		11,000		(2,000		)	19,813,000
	Industrial	5,019,000		2,000		—			5,021,000
	Other	2,019,000		1,000		(1,000		)	2,019,000
	Total available-for-sale securities	$	28,842,000	$	17,000	$	(3,000	)	$	28,856,000
Schedule of maturities of the entity's marketable securities	'
		Amortized		Estimated Fair
		Cost		Value
	Mature in one year or less	$	21,658,000	$	21,664,000
	Mature after one year through two years	7,184,000		7,192,000
		$	28,842,000	$	28,856,000

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 30, 2013
Stockholders' Equity	'
Schedule of shares of the Company's common stock reserved for future issuance	'
		September 30,
		2013
	Common stock awards outstanding	2,312,000
	Common stock awards available for grant	371,000
	Total common shares reserved for future issuance	2,683,000
Schedule of equity-based compensation cost recorded in the statements of operations and comprehensive loss	'
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013			2012		2013		2012
	Research and development	$	1,376,000		$	212,000	$	2,852,000	$	578,000
	General and administrative	696,000			402,000		1,952,000		845,000
		$	2,072,000		$	614,000	$	4,804,000	$	1,423,000
Summary of stock awards activity	'
		Number of		Weighted-
		Shares		Average
				Exercise Price

	Outstanding at December 31, 2012	1,956,000		$	5.86
	Granted	887,000		24.6
	Exercised	(444,000	)	2.66
	Cancelled	(87,000	)	15.5
	Outstanding at September 30, 2013	2,312,000		$	13.29

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements	'
Schedule of fair value hierarchy about each major category of financial assets and liabilities measured at fair value on a recurring basis	'

		Fair Value Measurement at September 30, 2013 Using:
		Quoted Prices		Significant		Significant		Balance as of
		in Active		Other		Unobservable		September 30,
		Markets for		Observable		Inputs		2013
		Identical		Inputs		(Level 3)
		Assets		(Level 2)
		(Level 1)
	Assets
	Cash equivalents	$	22,295,000	$	—	$	—	$	22,295,000
	U.S. government agency securities	—		2,003,000		—		2,003,000
	Corporate debt securities	—		26,853,000		—		$	26,853,000
	Total	$	22,295,000	$	28,856,000	$	—	$	51,151,000

		Fair Value Measurement at December 31, 2012 Using:
		Quoted Prices		Significant		Significant		Balance as of
		in Active		Other		Unobservable		December 31,
		Markets for		Observable		Inputs		2012
		Identical		Inputs		(Level 3)
		Assets		(Level 2)
		(Level 1)
	Assets:
	Cash equivalents	$	71,316,000	$	—	$	—	$	71,316,000
	Total	$	71,316,000	$	—	$	—	$	71,316,000

Subsequent_Events_Tables

Subsequent Events (Tables)	9 Months Ended
Subsequent Events (Tables)	Sep. 30, 2013
Subsequent Events	'
Schedule of balance sheet data on a pro forma basis showing the impact of the Company's IPO	'
		As of September 30, 2013
		Actual			As Adjusted
	Balance Sheet Data:
	Cash, cash equivalents and marketable securities	$	54,042,000		$	179,016,000
	Working capital	44,269,000			169,243,000
	Total assets	64,649,000			189,623,000
	Accumulated deficit	(158,199,000		)	(158,199,000		)
	Total stockholders’ equity	$	37,010,000		$	161,984,000

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Nov. 12, 2013	Oct. 15, 2013	Nov. 12, 2013
In Millions, except Share data, unless otherwise specified			Subsequent event	Subsequent event	Subsequent event
			Public Offering	Public Offering	Public Offering
Organization and Basis of Presentation	'	'	'	'	'
Common stock issued (in shares)	'	'	'	2,622,950	'
Common stock, par or stated value per share	$0.00	$0.00	'	$0.00	'
Offer price of common stock (in dollars per share)	'	'	'	$45.75	'
Additional shares of common stock purchased by the underwriters pursuant to overallotment option	'	'	297,042	'	'
Net proceeds from public offering after deducting the underwriting discounts and offering related transaction costs	'	'	'	'	$125

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Cash, Cash Equivalents and Marketable Securities	'	'	'	'	'
Impairment charge	$0	$0	$0	$0	'
Property and Equipment	'	'	'	'	'
Gross	1,360,000	'	1,360,000	'	1,318,000
Less accumulated depreciation	-1,239,000	'	-1,239,000	'	-1,043,000
Net	121,000	'	121,000	'	275,000
Disposal of property and equipment	'	'	0	0	'
Comprehensive (Loss) Income	'	'	'	'	'
Reclassifications out of accumulated other comprehensive income related to marketable securities	0	0	0	0	'
Minimum	'	'	'	'	'
Property and Equipment	'	'	'	'	'
Estimated useful lives	'	'	'1 year	'	'
Maximum	'	'	'	'	'
Property and Equipment	'	'	'	'	'
Estimated useful lives	'	'	'5 years	'	'
Cameras	'	'	'	'	'
Property and Equipment	'	'	'	'	'
Gross	923,000	'	923,000	'	923,000
Computer hardware and electronics	'	'	'	'	'
Property and Equipment	'	'	'	'	'
Gross	182,000	'	182,000	'	147,000
Furniture and fixtures	'	'	'	'	'
Property and Equipment	'	'	'	'	'
Gross	234,000	'	234,000	'	227,000
Software	'	'	'	'	'
Property and Equipment	'	'	'	'	'
Gross	$21,000	'	$21,000	'	$21,000

Marketable_Securities_Details

Marketable Securities (Details) (USD $)	3 Months Ended		9 Months Ended
Marketable Securities (Details) (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Marketable securities	'	'	'	'
Amortized Cost	$28,842,000	'	$28,842,000	'
Gross Unrealized Gains	17,000	'	17,000	'
Gross Unrealized Losses	-3,000	'	-3,000	'
Estimated Fair Value	28,856,000	'	28,856,000	'
Realized gains or losses from the sale of marketable securities	0	0	0	0
Amortized Cost	'	'	'	'
Mature in one year or less	21,658,000	'	21,658,000	'
Mature after one year through two years	7,184,000	'	7,184,000	'
Amortized cost	28,842,000	'	28,842,000	'
Estimated Fair Value	'	'	'	'
Mature in one year or less	21,664,000	'	21,664,000	'
Mature after one year through two years	7,192,000	'	7,192,000	'
Estimated Fair Value	28,856,000	'	28,856,000	'
U.S. government agency securities	'	'	'	'
Marketable securities	'	'	'	'
Amortized Cost	2,000,000	'	2,000,000	'
Gross Unrealized Gains	3,000	'	3,000	'
Estimated Fair Value	2,003,000	'	2,003,000	'
Estimated Fair Value	'	'	'	'
Estimated Fair Value	2,003,000	'	2,003,000	'
Financial	'	'	'	'
Marketable securities	'	'	'	'
Amortized Cost	19,804,000	'	19,804,000	'
Gross Unrealized Gains	11,000	'	11,000	'
Gross Unrealized Losses	-2,000	'	-2,000	'
Estimated Fair Value	19,813,000	'	19,813,000	'
Estimated Fair Value	'	'	'	'
Estimated Fair Value	19,813,000	'	19,813,000	'
Industrial	'	'	'	'
Marketable securities	'	'	'	'
Amortized Cost	5,019,000	'	5,019,000	'
Gross Unrealized Gains	2,000	'	2,000	'
Estimated Fair Value	5,021,000	'	5,021,000	'
Estimated Fair Value	'	'	'	'
Estimated Fair Value	5,021,000	'	5,021,000	'
Other	'	'	'	'
Marketable securities	'	'	'	'
Amortized Cost	2,019,000	'	2,019,000	'
Gross Unrealized Gains	1,000	'	1,000	'
Gross Unrealized Losses	-1,000	'	-1,000	'
Estimated Fair Value	2,019,000	'	2,019,000	'
Estimated Fair Value	'	'	'	'
Estimated Fair Value	$2,019,000	'	$2,019,000	'

Bridge_Financing_Details

Bridge Financing (Details) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended		3 Months Ended	9 Months Ended	81 Months Ended
	Jan. 31, 2013	Sep. 30, 2012	Sep. 30, 2012	Dec. 31, 2012	Sep. 30, 2012	Sep. 30, 2012	Oct. 31, 2012	Dec. 31, 2006
	Jan. 31, 2013	Sep. 30, 2012	Sep. 30, 2012	Dec. 31, 2012	Series B Redeemable Convertible Preferred Stock Warrants	Series B Redeemable Convertible Preferred Stock Warrants	Series B Redeemable Convertible Preferred Stock Warrants	Series B Redeemable Convertible Preferred Stock Warrants
Bridge Financing	'	'	'	'	'	'	'	'
Shares issuable upon exercise of warrants (in shares)	'	'	'	178	'	'	'	243,000
Exercise price of warrants (in dollars per share)	'	'	'	'	'	'	'	$7.61
Dividend yield (as a percent)	'	'	'	'	'	0.00%	'	'
Risk-free interest rate (as a percent)	'	'	'	'	'	0.11%	'	'
Volatility rate (as a percent)	'	'	'	'	'	45.00%	'	'
Increase in fair value	'	'	'	'	'	'	$1,205,000	'
Warrant and other interest income (expense), net	'	$54,000	($422,000)	'	$32,000	($349,000)	'	'
Shares of common stock issued as a result of exercise of warrants	153,000	'	'	'	'	'	'	'

Note_Payable_Details

Note Payable (Details) (USD $)

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

20 Months Ended

3 Months Ended

9 Months Ended

11 Months Ended

0 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2012

Oct. 31, 2012

Mar. 21, 2011

Sep. 30, 2012

Oct. 31, 2012

Dec. 31, 2011

Jul. 23, 2012

Sep. 30, 2013

Aug. 01, 2012

Mar. 21, 2011

Series C redeemable convertible preferred stock warrants

Series D redeemable convertible preferred stock warrants

Senior loan financing

Note Payable

Maximum borrowing capacity

$15,000,000

Drawn down limit to extend drawdown period

5,000,000

Additional extension to the initial drawdown date (in days)

'60 days

Initial period of interest only payments

'6 months

Fixed rate of interest in initial period (as a percent)

11.50%

Period of payment of interest and principal following the initial period

'30 months

Fixed rate of interest in period following initial period (as a percent)

8.50%

Final payment percentage

6.00%

Warrants issued (in shares)

178

34,000

86,000

Exercise price (in dollars per unit)

$13.35

$13.90

Estimated fair value of warrants

345,000

1,074,000

Amount drawn under credit facility

15,000,000

5,000,000

Remaining borrowing capacity

Dividend yield (as a percent)

0.00%

Risk-free interest rate (as a percent)

1.34%

1.50%

Volatility rate (as a percent)

75.00%

76.00%

Increase (decrease) in fair value

55,000

-18,000

Warrant and other income (expense), net

54,000

-422,000

6,000

-91,000

16,000

18,000

Stock exercised upon issuance of warrants on cashless basis

49,000

Amortization of debt issuance costs

85,000

79,000

255,000

183,000

Interest expense related to the note payable

452,000

1,231,000

Amount drawn under credit facility

Accrued interest expense

233,000

22,000

Unamortized debt issuance cost

$821,000

Stockholders_Equity_Details

Stockholders' Equity (Details)	Sep. 30, 2013	Dec. 31, 2012
Common Stock Reserved for Future Issuance	'	'
Common stock awards outstanding (in shares)	2,312,000	1,956,000
Common stock awards available for grant (in shares)	371,000	'
Total common shares reserved for future issuance	2,683,000	'

Stockholders_Equity_Details_2

Stockholders' Equity (Details 2) (USD $)	9 Months Ended
Stockholders' Equity (Details 2) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Stock options	'	'
Stock Awards	'	'
Expiration period	'10 years	'
Fair market value of common stock (in dollars per share)	$45.59	$30.34
Stock options \| Employees \| Minimum	'	'
Stock Awards	'	'
Vesting period	'1 year	'
Stock options \| Employees \| Maximum	'	'
Stock Awards	'	'
Vesting period	'4 years	'
Incentive stock options \| Individuals owning more than 10% \| Minimum	'	'
Stock Awards	'	'
Voting power of all classes of stock (as a percent)	10.00%	'
Incentive stock options \| Individuals owning more than 10% \| Maximum	'	'
Stock Awards	'	'
Expiration period	'5 years	'
Incentive stock options \| 10% Stockholder	'	'
Stock Awards	'	'
Voting power of all classes of stock (as a percent)	10.00%	'
Incentive stock options \| 10% Stockholder \| Minimum	'	'
Stock Awards	'	'
Minimum exercise price as a percentage of fair market value (as a percent)	110.00%	'
2012 Equity Incentive Award	'	'
Stock Awards	'	'
Threshold number of annual additional shares of common stock available for issuance	1,512,687	'
Percentage for the threshold number of annual additional shares of common stock available for issuance, expressed as percentage of common stock issued and outstanding on last day of the preceding calendar year	4.00%	'
Number of shares authorized for grant	3,224,000	2,491,000

Stockholders_Equity_Details_3

Stockholders' Equity (Details 3) (USD $)	3 Months Ended		9 Months Ended
Stockholders' Equity (Details 3) (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Stock-based compensation expense	'	'	'	'
Total equity-based compensation cost	$2,072,000	$614,000	$4,804,000	$1,423,000
Stock options	'	'	'	'
Stock-based compensation expense	'	'	'	'
Unrecognized compensation expense	12,739,000	'	12,739,000	'
Expected weighted-average period of recognition	'	'	'2 years 5 months 19 days	'
Research and development	'	'	'	'
Stock-based compensation expense	'	'	'	'
Total equity-based compensation cost	1,376,000	212,000	2,852,000	578,000
General and administrative	'	'	'	'
Stock-based compensation expense	'	'	'	'
Total equity-based compensation cost	$696,000	$402,000	$1,952,000	$845,000

Stockholders_Equity_Details_4

Stockholders' Equity (Details 4) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013
Stockholders' Equity (Details 4) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Stock options
Number of Shares	'	'	'
Outstanding at the beginning of the period (in shares)	2,312,000	1,956,000	1,956,000
Granted (in shares)	'	'	887,000
Exercised (in shares)	'	'	-444,000
Cancelled (in shares)	'	'	-87,000
Outstanding at the end of the period (in shares)	2,312,000	1,956,000	2,312,000
Weighted-Average Exercise Price	'	'	'
Outstanding at the beginning of the period (in dollars per share)	'	'	$5.86
Granted (in dollars per share)	'	'	$24.60
Exercised (in dollars per share)	'	'	$2.66
Cancelled (in dollars per share)	'	'	$15.50
Outstanding at the end of the period (in dollars per share)	'	'	$13.29

Collaborations_and_Contingenci1

Collaborations and Contingencies (Details) (USD $)	9 Months Ended	0 Months Ended	1 Months Ended	3 Months Ended		9 Months Ended		0 Months Ended	1 Months Ended	12 Months Ended
	Sep. 30, 2012	31-May-12	Aug. 31, 2010	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	31-May-12	Aug. 31, 2005	Dec. 31, 2010	Aug. 31, 2010
		License agreement	License agreement	License agreement	License agreement	License agreement	License agreement	License agreement	License agreement	License agreement	License agreement
		Bayer	Bayer	Bayer	Bayer	Bayer	Bayer	LA Biomed	LA Biomed	LA Biomed	LA Biomed
		item				item
Collaboration Arrangements	'	'	'	'	'	'	'	'	'	'	'
Upfront license fee paid	($3,847,000)	'	$21,319,000	'	'	'	'	'	'	'	'
Contingent income	'	'	297,000,000	'	'	'	'	'	'	'	'
Contingent income received	'	15,800,000	'	'	'	'	'	'	'	'	'
Number of consecutive validated manufacturing lots	'	2	'	'	'	'	'	'	'	'	'
Deferred development funds	'	17,400,000	22,247,000	'	'	'	'	'	'	'	'
Period of advance notice which is required to terminate the agreement	'	'	'	'	'	'180 days	'	'	'	'	'
Expiration period of royalties from the date of first commercial sale of related product	'	'	'	'	'	'15 years	'	'	'	'	'
Deferred revenue	'	21,319,000	'	'	'	'	'	'	'	'	'
Restricted cash	'	17,400,000	22,247,000	'	'	'	'	'	'	'	'
Amounts recognized as offsets to research and development expense	'	'	'	3,006,000	1,769,000	8,206,000	8,311,000	'	'	'	'
Contingent event-based payment	'	'	'	39,600,000	'	39,600,000	'	'	'	'	'
Number of territories outside of the European Union	'	'	'	'	'	2	'	'	'	'	'
Milestone payment	'	'	'	'	'	'	'	'	500,000	'	'
Non-royalty sublicense fees equal to a certain percentage of sublicense income (as a percent)	'	'	'	'	'	'	'	'	10.00%	'	'
Maximum non-royalty sublicense fees	'	'	'	'	'	'	'	'	5,000,000	'	'
Right to issue capital to satisfy payment of sublicense fees (as a percent)	'	'	'	'	'	'	'	'	50.00%	'	'
Non-royalty sublicense fee expenses	'	'	'	'	'	'	'	1,580,000	'	'	1,950,000
Non-royalty sublicense fee paid	'	'	'	'	'	'	'	'	'	390,000	'
Remainder of non-royalty sublicense fee	'	'	'	'	'	'	'	'	'	$1,560,000	'
Non-royalty sublicense fee paid in cash upon initial public offering (as a percent)	'	'	'	'	'	'	'	50.00%	'	'	'
Non-royalty sublicense fee paid in stock upon initial public offering (as a percent)	'	'	'	'	'	'	'	50.00%	'	'	'

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)

3 Months Ended

12 Months Ended

9 Months Ended

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

U.S. government agency securities and Corporate debt securities

U.S. government agency securities

Recurring basis

U.S. government agency securities

Corporate debt securities

Quoted Prices in Active Markets for Identical Assets (Level 1)

Significant Other Observable Inputs (Level 2)

Total

U.S. government agency securities

Corporate debt securities

Fair value of financial assets and liabilities measured at fair value on a recurring basis

Adjustment made to U.S. Treasury securities

Maturity period

'2 years

Fair value assets, amount transferred between measurement levels

Fair value liabilities, amount transferred between measurement levels

Assets:

Cash equivalents

22,295,000

71,316,000

22,295,000

71,316,000

Marketable securities

28,856,000

2,003,000

26,853,000

2,003,000

26,853,000

Total

$22,295,000

$71,316,000

$28,856,000

$51,151,000

$71,316,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended	9 Months Ended
Income Taxes (Details) (USD $)	Sep. 30, 2013	Sep. 30, 2013
Income Taxes	'	'
Provision for income taxes	$0	$0

Basic_and_Diluted_Net_Loss_Per1

Basic and Diluted Net Loss Per Common Share (Details)	9 Months Ended
Basic and Diluted Net Loss Per Common Share (Details)	Sep. 30, 2013	Sep. 30, 2012
Basic and Diluted Net Loss Per Common Share	'	'
Potential dilutive shares excluded from the calculation diluted weighted average shares outstanding	2,312,000	13,806,000

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Nov. 12, 2013	Oct. 15, 2013	Nov. 12, 2013
			Public Offering	Public Offering	Subsequent event	Subsequent event	Subsequent event
				As Adjusted	Public Offering	Public Offering	Public Offering
Subsequent events	'	'	'	'	'	'	'
Common stock issued (in shares)	'	'	'	'	'	2,622,950	'
Offer price of common stock (in dollars per share)	'	'	'	'	'	$45.75	'
Additional shares of common stock purchased by the underwriters pursuant to overallotment option	'	'	'	'	297,042	'	'
Aggregate shares issued from public offering	'	'	'	'	'	'	2,919,992
Net proceeds from public offering after deducting the underwriting discounts and offering related transaction costs	'	'	'	'	'	'	$125,000,000
Balance Sheet Data:	'	'	'	'	'	'	'
Cash, cash equivalents and marketable securities	'	'	54,042,000	179,016,000	'	'	'
Working capital	'	'	44,269,000	169,243,000	'	'	'
Total assets	64,649,000	96,222,000	64,649,000	189,623,000	'	'	'
Accumulated deficit	-158,199,000	-120,306,000	-158,199,000	-158,199,000	'	'	'
Total stockholders' equity	$37,010,000	$68,906,000	$37,010,000	$161,984,000	'	'	'