Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | Apr. 30, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Trading Symbol | 'IDRA | ' |
Entity Registrant Name | 'IDERA PHARMACEUTICALS, INC. | ' |
Entity Central Index Key | '0000861838 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 82,442,460 |
Condensed_Balance_Sheets_Unaud
Condensed Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $60,748 | $26,278 |
Short-term investments | 9,896 | 3,125 |
Prepaid expenses and other current assets | 1,160 | 874 |
Total current assets | 71,804 | 30,277 |
Long-term investments | ' | 6,189 |
Property and equipment, net | 125 | 90 |
Restricted cash | 311 | 311 |
Total assets | 72,240 | 36,867 |
Current liabilities: | ' | ' |
Accounts payable | 707 | 904 |
Accrued expenses | 4,647 | 3,506 |
Total current liabilities | 5,354 | 4,410 |
Other liabilities | 4 | 5 |
Total liabilities | 5,358 | 4,415 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.01 par value, Authorized - 5,000 shares | ' | ' |
Common stock, $0.001 par value, Authorized - 280,000 shares ; Issued and outstanding - 82,439 and 66,252 shares at March 31, 2014 and December 31, 2013, respectively | 82 | 66 |
Additional paid-in capital | 483,113 | 434,285 |
Accumulated deficit | -421,845 | -412,884 |
Accumulated other comprehensive gain (loss) | 4 | -7 |
Total stockholders' equity | 66,882 | 32,452 |
Total liabilities and stockholders' equity | 72,240 | 36,867 |
Series E preferred stock [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.01 par value | 5,528 | 5,528 |
Series D preferred stock [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.01 par value | ' | 5,464 |
Series A preferred stock [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.01 par value | ' | ' |
Condensed_Balance_Sheets_Unaud1
Condensed Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Common stock, par value | 0.001 | $0.00 |
Common stock, shares authorized | 280,000,000 | 280,000,000 |
Common stock, shares issued | 82,439,000 | 66,252,000 |
Common stock, shares outstanding | 82,439,000 | 66,252,000 |
Series E preferred stock [Member] | ' | ' |
Preferred stock, par value | 0.01 | $0.01 |
Preferred stock, shares designated | 424,000 | 424,000 |
Preferred stock, shares issued | 424,000 | 424,000 |
Preferred stock, shares outstanding | 424,000 | 424,000 |
Series D preferred stock [Member] | ' | ' |
Preferred stock, par value | ' | $0.01 |
Preferred stock, shares designated | 0 | 1,124,000 |
Preferred stock, shares issued | 0 | 1,124,000 |
Preferred stock, shares outstanding | 0 | 1,124,000 |
Series A preferred stock [Member] | ' | ' |
Preferred stock, par value | 0.01 | $0.01 |
Preferred stock, shares designated | 1,500,000 | 1,500,000 |
Preferred stock, shares issued | 1,000 | 1,000 |
Preferred stock, shares outstanding | 1,000 | 1,000 |
Condensed_Statements_of_Operat
Condensed Statements of Operations and Comprehensive Loss (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Alliance revenue | $3 | $7 |
Operating expenses: | ' | ' |
Research and development | 6,933 | 2,328 |
General and administrative | 2,043 | 1,527 |
Total operating expenses | 8,976 | 3,855 |
Loss from operations | -8,973 | -3,848 |
Other income (expense): | ' | ' |
Investment income, net | 15 | 2 |
Foreign currency exchange (loss) gain | -3 | 39 |
Net loss | -8,961 | -3,807 |
Preferred stock dividends | 185 | 279 |
Net loss applicable to common stockholders | -9,146 | -4,086 |
Basic and diluted net loss per common share applicable to common stockholders (Note 11) | ($0.12) | ($0.15) |
Shares used in computing basic and diluted net loss per common share applicable to common stockholders. | 76,018 | 27,644 |
Net loss | -8,961 | -3,807 |
Other comprehensive gain: | ' | ' |
Unrealized gain on available-for-sale securities | 11 | ' |
Comprehensive loss | ($8,950) | ($3,807) |
Condensed_Statements_of_Cash_F
Condensed Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash Flows from Operating Activities: | ' | ' |
Net loss | ($8,961) | ($3,807) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Stock-based compensation | 535 | 253 |
Non-employee stock option expense | 11 | 2 |
Issuance of common stock for services rendered | 14 | ' |
Amortization of investment premiums | 46 | ' |
Depreciation and amortization expense | 31 | 42 |
Changes in operating assets and liabilities: | ' | ' |
Prepaid expenses and other current assets | -286 | 22 |
Accounts payable, accrued expenses, and other liabilities | 1,008 | -211 |
Net cash used in operating activities | -7,602 | -3,699 |
Cash Flows from Investing Activities: | ' | ' |
Purchases of available-for-sale securities | -616 | ' |
Purchases of property and equipment | -12 | -1 |
Net cash used in investing activities | -628 | -1 |
Cash Flows from Financing Activities: | ' | ' |
Sale of common stock and warrants, net of issuance costs | 37,378 | ' |
Dividends paid | -345 | -160 |
Prior year financing transaction costs paid in current year | -100 | -87 |
Proceeds from exercise of common stock warrants and options and employee stock purchases | 5,768 | 1 |
Payments on capital lease | -1 | -1 |
Net cash provided by (used in) financing activities | 42,700 | -247 |
Net increase (decrease) in cash and cash equivalents | 34,470 | -3,947 |
Cash and cash equivalents, beginning of period | 26,278 | 10,096 |
Cash and cash equivalents, end of period | $60,748 | $6,149 |
Organization
Organization | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Organization | ' |
(1) Organization | |
Idera Pharmaceuticals, Inc. (“Idera” or the “Company”) is a clinical stage biotechnology company advancing drug candidates for the treatment of certain genetically defined forms of B-cell lymphoma and for the treatment of autoimmune diseases. These drug candidates are designed to inhibit over-activation of specific Toll-like receptors (“TLRs”). In addition to Idera’s TLR program, the Company has initiated a research program employing its gene silencing oligonucleotides (“GSOs”) to inhibit the production of disease-associated proteins by targeting RNA. | |
The Company’s lead drug candidate in its TLR program is IMO-8400, an antagonist of TLR7, TLR8, and TLR9. IMO-8400 is in development for the treatment of certain genetically defined forms of B-cell lymphoma and for the treatment of selected orphan autoimmune diseases. A TLR antagonist is a compound that blocks activation of an immune response through the targeted TLR. To date, the Company has evaluated IMO-8400 in two clinical trials. The Company also has selected IMO-9200 as a second novel antagonist of TLR7, TLR8, and TLR9 for development as a drug candidate for potential use in selected autoimmune disease indications. The Company has initiated preclinical studies of IMO-9200 to support submission of an Investigational New Drug application to the U.S. Food and Drug Administration (“FDA”). | |
Idera’s business strategy is to develop IMO-8400 and other TLR antagonist candidates for the treatment of certain genetically defined forms of B-cell lymphoma and for the treatment of orphan autoimmune diseases with unmet medical needs. In addition, the Company may seek to enter into collaborative alliances with pharmaceutical companies to advance its TLR antagonist candidates in broader autoimmune disease indications, such as psoriasis, lupus, and arthritis. | |
At March 31, 2014, the Company had an accumulated deficit of $421,845,000. The Company expects to incur substantial operating losses in future periods. The Company does not expect to generate significant product revenue, sales-based milestones or royalties until the Company successfully completes development and obtains marketing approval for drug candidates, either alone or in collaborations with third parties, which the Company expects will take a number of years. In order to commercialize its drug candidates, the Company needs to complete clinical development and comply with comprehensive regulatory requirements. | |
The Company is subject to a number of risks and uncertainties similar to those of other companies of the same size within the biotechnology industry, such as uncertainty of clinical trial outcomes, uncertainty of additional funding, and history of operating losses. |
Unaudited_Interim_Financial_St
Unaudited Interim Financial Statements | 3 Months Ended |
Mar. 31, 2014 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Unaudited Interim Financial Statements | ' |
(2) Unaudited Interim Financial Statements | |
The accompanying unaudited financial statements included herein have been prepared by the Company in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments, consisting of normal recurring adjustments, and disclosures considered necessary for a fair presentation of interim period results have been included. Interim results for the three months ended March 31, 2014 are not necessarily indicative of results that may be expected for the year ended December 31, 2014. For further information, refer to the financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, which was filed with the SEC on March 13, 2014. |
Financial_Instruments
Financial Instruments | 3 Months Ended |
Mar. 31, 2014 | |
Investments All Other Investments [Abstract] | ' |
Financial Instruments | ' |
(3) Financial Instruments | |
The fair value of the Company’s financial instruments is determined and disclosed in accordance with the three-tier fair value hierarchy specified in Note 5. The Company is required to disclose the estimated fair values of its financial instruments. The Company’s financial instruments consist of cash, cash equivalents, available-for-sale investments and receivables. The estimated fair values of these financial instruments approximate their carrying values as of March 31, 2014 and December 31, 2013. As of March 31, 2014 and December 31, 2013, the Company did not have any derivatives, hedging instruments or other similar financial instruments except for the Series E convertible preferred stock, (the “Series E preferred stock”), the embedded features of which are discussed in Note 8(g) to the financial statements included in the Company’s Form 10-K for the year ended December 31, 2013. |
Cash_and_Cash_Equivalents
Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2014 | |
Cash And Cash Equivalents [Abstract] | ' |
Cash and Cash Equivalents | ' |
(4) Cash and Cash Equivalents | |
The Company considers all highly liquid investments with maturities of 90 days or less when purchased to be cash equivalents. Cash and cash equivalents at March 31, 2014 and December 31, 2013 consisted of cash and money market funds. |
Fair_Value_of_Assets_and_Liabi
Fair Value of Assets and Liabilities | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Assets and Liabilities | ' | ||||||||||||||||
(5) Fair Value of Assets and Liabilities | |||||||||||||||||
The Company measures fair value at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date using assumptions that market participants would use in pricing the asset or liability (the “inputs”) into a three-tier fair value hierarchy. This fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets for identical assets or liabilities and the lowest priority (Level 3) to unobservable inputs in which little or no market data exists, requiring companies to develop their own assumptions. Observable inputs that do not meet the criteria of Level 1, and include quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets and liabilities in markets that are not active, are categorized as Level 2. Level 3 inputs are those that reflect the Company’s estimates about the assumptions market participants would use in pricing the asset or liability, based on the best information available in the circumstances. Valuation techniques for assets and liabilities measured using Level 3 inputs may include unobservable inputs such as projections, estimates and management’s interpretation of current market data. These unobservable Level 3 inputs are only utilized to the extent that observable inputs are not available or cost-effective to obtain. The Company applies Accounting Standards Update (“ASU”) No. 2011-04, “Fair Value Measurement (Topic 820),” in its fair value measurements and disclosures. | |||||||||||||||||
The table below presents the assets and liabilities measured and recorded in the financial statements at fair value on a recurring basis at March 31, 2014 and December 31, 2013 categorized by the level of inputs used in the valuation of each asset and liability. | |||||||||||||||||
(In thousands) | Total | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets | Observable | Inputs | |||||||||||||||
for Identical | Inputs | (Level 3) | |||||||||||||||
Assets or | (Level 2) | ||||||||||||||||
Liabilities | |||||||||||||||||
(Level 1) | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Assets | |||||||||||||||||
Money market funds | $ | 60,684 | $ | 60,684 | $ | — | $ | — | |||||||||
Short-term investments – commercial paper | 1,999 | — | 1,999 | — | |||||||||||||
Short-term investments – corporate bonds | 7,897 | — | 7,897 | — | |||||||||||||
Total Assets | $ | 70,580 | $ | 60,684 | $ | 9,896 | $ | — | |||||||||
December 31, 2013 | |||||||||||||||||
Assets | |||||||||||||||||
Money market funds | $ | 25,201 | $ | 25,201 | $ | — | $ | — | |||||||||
Short-term investments – commercial paper | 1,997 | — | 1,997 | — | |||||||||||||
Short-term investments – corporate bonds | 1,128 | — | 1,128 | — | |||||||||||||
Long-term investments – corporate bonds | 6,189 | — | 6,189 | — | |||||||||||||
Total Assets | $ | 34,515 | $ | 25,201 | $ | 9,314 | $ | — | |||||||||
The Level 1 assets consist of money market funds, which are actively traded daily. The Level 2 assets consist of corporate bond and commercial paper investments whose fair value may not represent actual transactions of identical securities. The fair value of corporate bonds is generally determined from quoted market prices received from pricing services based upon quoted prices from active markets and/or other significant observable market transactions at fair value. The fair value of commercial paper is generally determined based on the relationship between the investment’s discount rate and the discount rates of the same issuer’s commercial paper available in the market which may not be actively traded daily. Since these fair values may not be based upon actual transactions of identical securities, they are classified as Level 2. Since any investments are classified as available-for-sale securities, any unrealized gains or losses are recorded in accumulated other comprehensive income or loss within stockholders’ equity on the balance sheet. The Company did not elect to measure any other financial assets or liabilities at fair value at March 31, 2014 or December 31, 2013. |
Investments
Investments | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Investments | ' | ||||||||||||||||
(6) Investments | |||||||||||||||||
The Company’s available-for-sale investments at fair value consisted of the following at March 31, 2014 and December 31, 2013: | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Cost | Gross | Gross | Estimated | ||||||||||||||
Unrealized | Unrealized | Fair Value | |||||||||||||||
(Losses) | Gains | ||||||||||||||||
(In thousands) | |||||||||||||||||
Commercial paper due in one year or less | $ | 1,999 | $ | — | $ | — | $ | 1,999 | |||||||||
Corporate bonds due in one year or less | 7,893 | (1 | ) | 5 | 7,897 | ||||||||||||
Total short-term investments | 9,892 | (1 | ) | 5 | 9,896 | ||||||||||||
Total long-term investments | — | — | — | — | |||||||||||||
Total investments | $ | 9,892 | $ | (1 | ) | $ | 5 | $ | 9,896 | ||||||||
December 31, 2013 | |||||||||||||||||
Cost | Gross | Gross | Estimated | ||||||||||||||
Unrealized | Unrealized | Fair Value | |||||||||||||||
(Losses) | Gains | ||||||||||||||||
(In thousands) | |||||||||||||||||
Commercial paper due in one year or less | $ | 1,997 | $ | — | $ | — | $ | 1,997 | |||||||||
Corporate bonds due in one year or less | 1,128 | — | — | 1,128 | |||||||||||||
Total short-term investments | 3,125 | — | — | 3,125 | |||||||||||||
Corporate bonds due in one year or more | 6,196 | (7 | ) | — | 6,189 | ||||||||||||
Total long-term investments | 6,196 | (7 | ) | — | 6,189 | ||||||||||||
Total investments | $ | 9,321 | $ | (7 | ) | $ | — | $ | 9,314 | ||||||||
The Company had no realized gains or losses from available-for-sale securities in the three months ended March 31, 2014 and 2013. There were no losses or other-than-temporary declines in value included in “Investment income, net” on the Company’s Statements of Operations and Comprehensive Loss for any securities for the three months ended March 31, 2014 and 2013. The Company had no auction rate securities as of March 31, 2014 and December 31, 2013. See Note 3, “Financial Instruments,” and Note 5, “Fair Value of Assets and Liabilities” for additional information related to the Company’s investments. |
Property_and_Equipment
Property and Equipment | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
(7) Property and Equipment | |||||||||
At March 31, 2014 and December 31, 2013, net property and equipment at cost consisted of the following: | |||||||||
(In thousands) | March 31, | December 31, | |||||||
2014 | 2013 | ||||||||
Leasehold improvements | $ | 525 | $ | 525 | |||||
Laboratory equipment and other | 2,920 | 2,854 | |||||||
Total property and equipment, at cost | 3,445 | 3,379 | |||||||
Less: accumulated depreciation | 3,320 | 3,289 | |||||||
Property and equipment, net | $ | 125 | $ | 90 | |||||
Depreciation and amortization expense was approximately $31,000 and $42,000 in the three months ended March 31, 2014 and 2013, respectively. |
Restricted_Cash
Restricted Cash | 3 Months Ended |
Mar. 31, 2014 | |
Receivables [Abstract] | ' |
Restricted Cash | ' |
(8) Restricted Cash | |
As part of the Company’s lease arrangement for its office and laboratory facility, the Company is required to restrict cash held in a certificate of deposit securing a line of credit for the lessor. As of March 31, 2014 and December 31, 2013, the restricted cash amounted to $311,000 held in certificates of deposit securing a line of credit for the lessor. |
Comprehensive_Income_Loss
Comprehensive Income (Loss) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Equity [Abstract] | ' | ||||
Comprehensive Income (Loss) | ' | ||||
(9) Comprehensive Income (Loss) | |||||
Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) for the three months ended March 31, 2014 and 2013 is comprised of reported net income (loss) and any change in net unrealized gains and losses on investments during each period, which is included in “Accumulated other comprehensive income” on the accompanying balance sheets. The Company applies ASU No. 2011-05, “Comprehensive Income” by presenting the components of net income and other comprehensive income as one continuous statement. | |||||
The following table includes the changes in the accumulated balance of the component of other comprehensive income (loss) for the three months ended March 31, 2014: | |||||
(In thousands) | Three | ||||
Months | |||||
ended | |||||
March 31, | |||||
2014 | |||||
Accumulated unrealized loss on available-for-sale securities at beginning of period | $ | (7 | ) | ||
Change during the period | 11 | ||||
Accumulated unrealized gain on available-for-sale securities at end of period | $ | 4 | |||
There was no accumulated unrealized gain or loss on available-for-sale securities during the three months ended March 31, 2013. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||
Stock-Based Compensation | ' | ||||
(10) Stock-Based Compensation | |||||
The Company recognizes all share-based payments to employees and directors as expense in the statements of operations and comprehensive loss based on their fair values. The Company records compensation expense over an award’s requisite service period, or vesting period, based on the award’s fair value at the date of grant. The Company’s policy is to charge the fair value of stock options as an expense, adjusted for forfeitures, on a straight-line basis over the vesting period, which is generally four years for employees and three years for directors. | |||||
The Company recorded charges of $535,000 and $253,000 in its statements of operations and comprehensive loss for the three months ended March 31, 2014 and 2013, respectively, for stock-based compensation expense attributable to share-based payments made to employees and directors. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model. The following assumptions apply to the options to purchase 992,500 shares of common stock granted to employees and directors during the three months ended March 31, 2014: | |||||
Three | |||||
Months | |||||
Ended | |||||
March 31, | |||||
2014 | |||||
Average risk free interest rate | 1.6 | % | |||
Expected dividend yield | — | ||||
Expected lives (years) | 5 | ||||
Expected volatility | 81 | % | |||
Weighted average grant date fair value of options granted during the period (per share) | $ | 3.36 | |||
Weighted average exercise price of options granted during the period (per share) | $ | 5.15 | |||
The expected lives and the expected volatility of the options granted during the three months ended March 31, 2014 are based on historical experience. All options granted during the three months ended March 31, 2014 were granted at exercise prices equal to the fair market value of the common stock on the dates of grant. The Company did not grant any stock options during the three months ended March 31, 2013. |
Net_Loss_per_Common_Share_Appl
Net Loss per Common Share Applicable to Common Stockholders | 3 Months Ended |
Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ' |
Net Loss per Common Share Applicable to Common Stockholders | ' |
(11) Net Loss per Common Share Applicable to Common Stockholders | |
For the three months ended March 31, 2014 and 2013, basic and diluted net loss per common share applicable to common stockholders is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net loss per common share applicable to common stockholders is the same as basic net loss per common share applicable to common stockholders as the effects of the Company’s potential common stock equivalents are antidilutive. Total antidilutive securities were 80,345,651 and 33,037,104 for the three months ended March 31, 2014 and 2013, respectively, and consist of stock options, preferred stock and warrants. | |
For the three months ended March 31, 2014 and 2013, net loss per common share applicable to common stockholders reflects $185,000 and $279,000, respectively, in dividends accrued on shares of our Series D convertible preferred stock (“Series D preferred stock”) and our Series E convertible preferred stock (“Series E preferred stock”). |
Common_Stock_Warrant_and_Optio
Common Stock Warrant and Option Exercises and Employee Stock Purchases | 3 Months Ended |
Mar. 31, 2014 | |
Text Block [Abstract] | ' |
Common Stock Warrant and Option Exercises and Employee Stock Purchases | ' |
(12) Common Stock Warrant and Option Exercises and Employee Stock Purchases | |
During the three months ended March 31, 2014, the Company issued 2,050,578 shares of common stock in connection with warrant and stock option exercises and purchases under the Company’s 1995 Employee Stock Purchase Plan (the “ESPP”) resulting in total proceeds to the Company of $5,768,000. | |
During the three months ended March 31, 2013, the Company issued 1,744 shares of common stock in connection with employee stock purchases under the ESPP, which resulted in total proceeds to the Company of $1,000. During this period, there were no warrant or option exercises. |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
(13) Related Party Transactions | |
February 6, 2014 Conversion of Series D Preferred Stock | |
On January 10, 2014, the Company notified Pillar Pharmaceuticals I, L.P. (“Pillar I”), an investment partnership managed by one of the Company’s directors and significant stockholders and the holder of all 1,124,260 shares of the Company’s issued and outstanding Series D preferred stock, of its intention to redeem the Series D preferred stock on February 10, 2014 in accordance with the terms of the Certificate of Designations, Preferences and Rights of Series D Preferred Stock (the “Series D Certificate of Designations”). Following this notice, Pillar I had the right to convert its Series D preferred stock into shares of the Company’s common stock at any time prior to the close of business on February 9, 2014. On February 6, 2014, Pillar I converted such shares into 6,266,175 shares of the Company’s common stock in accordance with the terms of the Series D Certificate of Designations. As a result of the conversion, no shares of the Company’s Series D preferred stock remain outstanding. | |
On March 28, 2014, the Company filed a Certificate of Elimination of Number of Shares of Preferred Stock Designated as Series D Convertible Preferred Stock with the State of Delaware Secretary of State which eliminated the designation of the shares of Series D preferred stock. | |
Director Stock Purchases | |
The Company issued 2,855 shares of common stock in lieu of director board and committee fees of approximately $14,000 pursuant to the Company’s director compensation program during the three months ended March 31, 2014. |
Financing
Financing | 3 Months Ended |
Mar. 31, 2014 | |
Text Block [Abstract] | ' |
Financing | ' |
(14) Financing | |
February 10, 2014 Follow-on Underwritten Public Offering | |
On February 10, 2014, the Company closed a follow-on underwritten public offering, in which it sold 7,867,438 shares of common stock at a price to the public of $4.00 per share and pre-funded warrants to purchase up to 2,158,750 shares of common stock at a price to the public of $3.99 per share for aggregate gross proceeds of $40.1 million. The pre-funded warrants have an exercise price of $0.01 per share and will expire if not exercised by February 10, 2021. The estimated net proceeds to the Company from the offering, after deducting underwriters’ discounts and commissions and other offering costs and expenses and excluding the proceeds of the exercise of the warrants, if any, were approximately $37.2 million. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
(15) Subsequent Events | |
In May 2014, the Company entered into a collaboration with Abbott Molecular, Inc. (“Abbott Molecular”) for the development of a companion diagnostic that can be used to identify patients with the MYD88 L265P oncogenic mutation in future clinical trials of IMO-8400. Under the agreement, Abbott Molecular has agreed to develop the companion diagnostic to comply with the requirements of the FDA Center for Devices and Radiological Health. The Company expects to pay approximately $6,700,000 in external development expenses to develop an assay as the prototype of the companion diagnostic, to validate the prototype during a Phase 2 clinical trial of IMO-8400, and to complete FDA and launch activities of the resultant final version of the companion diagnostic over five years under the agreement, subject to increase if Abbott Molecular incurs additional expenses in order to meet unexpected material requirements or obligations not included in the agreement or if the Company is required to conduct additional or different clinical trials which result in Abbott Molecular incurring additional costs. The Company will not receive any revenues from future sales, if any, of the companion diagnostic. | |
On April 29, 2014, the Company entered into an amendment to its exclusive license and research collaboration agreement with Merck Sharp & Dohme Corp. (formerly Merck & Co., Inc.). Under the license and research collaboration agreement, which the Company entered into with Merck Sharp & Dohme Corp. in December 2006, the Company had granted Merck Sharp & Dohme Corp. worldwide exclusive rights to its TLR7, TLR8, and TLR9 agonists for use in combination with Merck Sharp & Dohme Corp.’s therapeutic and prophylactic vaccines under development in the fields of cancer, infectious diseases, and Alzheimer’s disease. As a result of this amendment, Merck Sharp & Dohme Corp.’s rights under the exclusive license and collaboration agreement have been limited to specified TLR7, TLR8, and TLR9 agonists that Merck Sharp& Dohme Corp. selected in January 2012, and the Company regained the rights to pursue its other independently discovered TLR7, TLR8, and TLR9 agonists for use as vaccine adjuvants in the fields of cancer, infectious diseases and Alzheimer’s disease so that it now has the right to pursue its TLR7, TLR8, and TLR9 agonists for use as vaccine adjuvants in all fields. Merck Sharp & Dohme Corp.’s obligations under the agreement to pay the Company milestone payments and royalties continue in effect with respect to the specified TLR7, TLR8, and TLR9 agonists. However, in connection with this amendment, the Company agreed that, to the extent that the Company licenses to third parties any TLR7, TLR8, and TLR9 agonists for use as vaccine adjuvants in the fields of cancer, infectious diseases and Alzheimer’s disease and receives income under such licenses, Merck Sharp & Dohme Corp. may credit against any milestone payments and royalties it owes to the Company an amount equal to 15% of the license income received by the Company under the third party licenses, up to a maximum of $60.0 million in credits. |
Fair_Value_of_Assets_and_Liabi1
Fair Value of Assets and Liabilities (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||
The table below presents the assets and liabilities measured and recorded in the financial statements at fair value on a recurring basis at March 31, 2014 and December 31, 2013 categorized by the level of inputs used in the valuation of each asset and liability. | |||||||||||||||||
(In thousands) | Total | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets | Observable | Inputs | |||||||||||||||
for Identical | Inputs | (Level 3) | |||||||||||||||
Assets or | (Level 2) | ||||||||||||||||
Liabilities | |||||||||||||||||
(Level 1) | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Assets | |||||||||||||||||
Money market funds | $ | 60,684 | $ | 60,684 | $ | — | $ | — | |||||||||
Short-term investments – commercial paper | 1,999 | — | 1,999 | — | |||||||||||||
Short-term investments – corporate bonds | 7,897 | — | 7,897 | — | |||||||||||||
Total Assets | $ | 70,580 | $ | 60,684 | $ | 9,896 | $ | — | |||||||||
December 31, 2013 | |||||||||||||||||
Assets | |||||||||||||||||
Money market funds | $ | 25,201 | $ | 25,201 | $ | — | $ | — | |||||||||
Short-term investments – commercial paper | 1,997 | — | 1,997 | — | |||||||||||||
Short-term investments – corporate bonds | 1,128 | — | 1,128 | — | |||||||||||||
Long-term investments – corporate bonds | 6,189 | — | 6,189 | — | |||||||||||||
Total Assets | $ | 34,515 | $ | 25,201 | $ | 9,314 | $ | — | |||||||||
Investments_Tables
Investments (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Summary of Available-for-Sale Investments at Fair Value | ' | ||||||||||||||||
The Company’s available-for-sale investments at fair value consisted of the following at March 31, 2014 and December 31, 2013: | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Cost | Gross | Gross | Estimated | ||||||||||||||
Unrealized | Unrealized | Fair Value | |||||||||||||||
(Losses) | Gains | ||||||||||||||||
(In thousands) | |||||||||||||||||
Commercial paper due in one year or less | $ | 1,999 | $ | — | $ | — | $ | 1,999 | |||||||||
Corporate bonds due in one year or less | 7,893 | (1 | ) | 5 | 7,897 | ||||||||||||
Total short-term investments | 9,892 | (1 | ) | 5 | 9,896 | ||||||||||||
Total long-term investments | — | — | — | — | |||||||||||||
Total investments | $ | 9,892 | $ | (1 | ) | $ | 5 | $ | 9,896 | ||||||||
December 31, 2013 | |||||||||||||||||
Cost | Gross | Gross | Estimated | ||||||||||||||
Unrealized | Unrealized | Fair Value | |||||||||||||||
(Losses) | Gains | ||||||||||||||||
(In thousands) | |||||||||||||||||
Commercial paper due in one year or less | $ | 1,997 | $ | — | $ | — | $ | 1,997 | |||||||||
Corporate bonds due in one year or less | 1,128 | — | — | 1,128 | |||||||||||||
Total short-term investments | 3,125 | — | — | 3,125 | |||||||||||||
Corporate bonds due in one year or more | 6,196 | (7 | ) | — | 6,189 | ||||||||||||
Total long-term investments | 6,196 | (7 | ) | — | 6,189 | ||||||||||||
Total investments | $ | 9,321 | $ | (7 | ) | $ | — | $ | 9,314 | ||||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Tabular Disclosure of Major Components of Property and Equipment and Related Accumulated Depreciation | ' | ||||||||
At March 31, 2014 and December 31, 2013, net property and equipment at cost consisted of the following: | |||||||||
(In thousands) | March 31, | December 31, | |||||||
2014 | 2013 | ||||||||
Leasehold improvements | $ | 525 | $ | 525 | |||||
Laboratory equipment and other | 2,920 | 2,854 | |||||||
Total property and equipment, at cost | 3,445 | 3,379 | |||||||
Less: accumulated depreciation | 3,320 | 3,289 | |||||||
Property and equipment, net | $ | 125 | $ | 90 | |||||
Comprehensive_Income_Loss_Tabl
Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Equity [Abstract] | ' | ||||
Changes in Accumulated Balance of the Component of Other Comprehensive Income (Loss) | ' | ||||
The following table includes the changes in the accumulated balance of the component of other comprehensive income (loss) for the three months ended March 31, 2014: | |||||
(In thousands) | Three | ||||
Months | |||||
ended | |||||
March 31, | |||||
2014 | |||||
Accumulated unrealized loss on available-for-sale securities at beginning of period | $ | (7 | ) | ||
Change during the period | 11 | ||||
Accumulated unrealized gain on available-for-sale securities at end of period | $ | 4 | |||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||
Schedule of Assumptions Used to Determine Fair Value of Stock Options Granted During Period | ' | ||||
The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model. The following assumptions apply to the options to purchase 992,500 shares of common stock granted to employees and directors during the three months ended March 31, 2014: | |||||
Three | |||||
Months | |||||
Ended | |||||
March 31, | |||||
2014 | |||||
Average risk free interest rate | 1.6 | % | |||
Expected dividend yield | — | ||||
Expected lives (years) | 5 | ||||
Expected volatility | 81 | % | |||
Weighted average grant date fair value of options granted during the period (per share) | $ | 3.36 | |||
Weighted average exercise price of options granted during the period (per share) | $ | 5.15 |
Organization_Additional_Inform
Organization - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' |
Accumulated deficit | ($421,845) | ($412,884) |
Cash_and_Cash_Equivalents_Addi
Cash and Cash Equivalents - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2014 | |
Cash And Cash Equivalents [Abstract] | ' |
Maximum period to maturity to be considered a cash equivalent | '90 days |
Fair_Value_of_Assets_and_Liabi2
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (Fair value, measurements, recurring [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | $70,580 | $34,515 |
Money market funds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | 60,684 | 25,201 |
Short-term investments - commercial paper [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | 1,999 | 1,997 |
Short-term investments - corporate bonds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | 7,897 | 1,128 |
Long-term investments - corporate bonds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | 6,189 |
Quoted prices in active markets for identical assets or liabilities (Level 1) [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | 60,684 | 25,201 |
Quoted prices in active markets for identical assets or liabilities (Level 1) [Member] | Money market funds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | 60,684 | 25,201 |
Quoted prices in active markets for identical assets or liabilities (Level 1) [Member] | Short-term investments - commercial paper [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Quoted prices in active markets for identical assets or liabilities (Level 1) [Member] | Short-term investments - corporate bonds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Quoted prices in active markets for identical assets or liabilities (Level 1) [Member] | Long-term investments - corporate bonds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Significant other observable inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | 9,896 | 9,314 |
Significant other observable inputs (Level 2) [Member] | Money market funds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Significant other observable inputs (Level 2) [Member] | Short-term investments - commercial paper [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | 1,999 | 1,997 |
Significant other observable inputs (Level 2) [Member] | Short-term investments - corporate bonds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | 7,897 | 1,128 |
Significant other observable inputs (Level 2) [Member] | Long-term investments - corporate bonds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | 6,189 |
Significant unobservable inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Significant unobservable inputs (Level 3) [Member] | Money market funds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Significant unobservable inputs (Level 3) [Member] | Short-term investments - commercial paper [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Significant unobservable inputs (Level 3) [Member] | Short-term investments - corporate bonds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Significant unobservable inputs (Level 3) [Member] | Long-term investments - corporate bonds [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Assets | ' | ' |
Investments_Summary_of_Availab
Investments - Summary of Available-for-Sale Investments at Fair Value (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Cost | $9,892 | $9,321 |
Gross Unrealized (Losses) | -1 | -7 |
Gross Unrealized Gains | 5 | ' |
Estimated Fair Value | 9,896 | 9,314 |
Commercial paper due in one year or less [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Cost | 1,999 | 1,997 |
Gross Unrealized (Losses) | ' | ' |
Gross Unrealized Gains | ' | ' |
Estimated Fair Value | 1,999 | 1,997 |
Corporate bonds due in one year or less [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Cost | 7,893 | 1,128 |
Gross Unrealized (Losses) | -1 | ' |
Gross Unrealized Gains | 5 | ' |
Estimated Fair Value | 7,897 | 1,128 |
Total short-term investments [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Cost | 9,892 | 3,125 |
Gross Unrealized (Losses) | -1 | ' |
Gross Unrealized Gains | 5 | ' |
Estimated Fair Value | 9,896 | 3,125 |
Total long-term investments [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Cost | ' | 6,196 |
Gross Unrealized (Losses) | ' | -7 |
Gross Unrealized Gains | ' | ' |
Estimated Fair Value | ' | 6,189 |
Corporate bonds due in one year or more [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Cost | ' | 6,196 |
Gross Unrealized (Losses) | ' | -7 |
Gross Unrealized Gains | ' | ' |
Estimated Fair Value | ' | $6,189 |
Investments_Additional_Informa
Investments - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Investments Debt And Equity Securities [Abstract] | ' | ' |
Realized gains or losses from available-for-sale securities | $0 | $0 |
Auction Rate Securities, Noncurrent | 0 | 0 |
Losses on investment | $0 | $0 |
Property_and_Equipment_Tabular
Property and Equipment - Tabular Disclosure of Major Components of Property and Equipment and Related Accumulated Depreciation (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property Plant And Equipment [Abstract] | ' | ' |
Leasehold improvements | $525 | $525 |
Laboratory equipment and other | 2,920 | 2,854 |
Total property and equipment, at cost | 3,445 | 3,379 |
Less: accumulated depreciation | 3,320 | 3,289 |
Property and equipment, net | $125 | $90 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Property Plant And Equipment [Abstract] | ' | ' |
Depreciation and amortization expense | $31 | $42 |
Restricted_Cash_Additional_Inf
Restricted Cash - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Restricted Cash [Abstract] | ' | ' |
Total restricted cash | $311,000 | $311,000 |
Comprehensive_Income_Loss_Chan
Comprehensive Income (Loss) - Changes in Accumulated Balance of the Component of Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Comprehensive Income Net Of Tax [Abstract] | ' | ' |
Accumulated unrealized loss on available-for-sale securities at beginning of period | ($7) | $0 |
Change during the period | 11 | ' |
Accumulated unrealized gain on available-for-sale securities at end of period | $4 | $0 |
Comprehensive_Income_Loss_Addi
Comprehensive Income (Loss) - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Comprehensive Income Net Of Tax [Abstract] | ' | ' | ' |
Accumulated unrealized gain or loss on available-for-sale securities | $4 | ($7) | $0 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Recorded charges in statement of operations | $535 | $253 |
Options to purchase common stock granted to employees and directors | 992,500 | 0 |
StockBased_Compensation_Schedu
Stock-Based Compensation - Schedule of Assumptions Used to Determine Fair Value of Stock Options Granted During Period (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Average risk free interest rate | 1.60% |
Expected dividend yield | ' |
Expected lives (years) | '5 years |
Expected volatility | 81.00% |
Weighted average grant date fair value of options granted during the period (per share) | $3.36 |
Weighted average exercise price of options granted during the period (per share) | $5.15 |
Net_Loss_per_Common_Share_Appl1
Net Loss per Common Share Applicable to Common Stockholders - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share [Abstract] | ' | ' |
Total antidilutive securities | 80,345,651 | 33,037,104 |
Preferred stock dividends | $185 | $279 |
Common_Stock_Warrant_and_Optio1
Common Stock Warrant and Option Exercises and Employee Stock Purchases - Additional Information (Detail) (Common Stock Warrant And Option Exercises And Employee Stock Purchases [Member], USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Common Stock Warrant And Option Exercises And Employee Stock Purchases [Member] | ' | ' |
Employee Stock Option And Warrant Exercises And ESPP Purchases [Line Items] | ' | ' |
Number of common stock issued for stock warrant and stock options exercised and ESPP purchases | 2,050,578 | 1,744 |
Proceeds from stock issued under ESPP and warrant and option exercises during period | $5,768,000 | $1,000 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 0 Months Ended | ||||
Mar. 31, 2014 | Feb. 06, 2014 | Feb. 06, 2014 | Mar. 31, 2014 | Feb. 10, 2014 | Dec. 31, 2013 | |
Series D preferred stock [Member] | Series D preferred stock [Member] | Series D preferred stock [Member] | Series D preferred stock [Member] | |||
Schedule of Other Related Party Transactions [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | ' | ' | 0 | 1,124,260 | 1,124,000 |
Preferred stock, shares outstanding | ' | ' | ' | 0 | 0 | 1,124,000 |
Shares of common stock issued upon conversion of Series D preferred stock | ' | ' | 6,266,175 | ' | ' | ' |
Number of shares of Series D Preferred Stock outstanding after conversion | ' | 0 | ' | ' | ' | ' |
Common stock in lieu of board fees | 2,855 | ' | ' | ' | ' | ' |
Common stock issued | $14,000 | ' | ' | ' | ' | ' |
Financing_Additional_Informati
Financing - Additional Information (Detail) (USD $) | 0 Months Ended |
In Millions, except Share data, unless otherwise specified | Feb. 10, 2014 |
Equity [Line Items] | ' |
Common stock sold | 7,867,438 |
Gross proceeds from sale of common stock and warrants excluding the proceeds from exercise of the warrants, if any | $40.10 |
Common stock price per share | $4 |
Estimated net proceeds from sale of common stock and warrants excluding the proceeds from exercise of the warrants, if any | $37.20 |
Pre-funded warrants [Member] | ' |
Equity [Line Items] | ' |
Shares of common stock that may be purchased upon exercise of the warrants | 2,158,750 |
Warrants exercise price per share | 0.01 |
Sales price per share of prefunded warrants | $3.99 |
Pre-funded warrants expiration date | 10-Feb-21 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 1 Months Ended | |
31-May-14 | Apr. 29, 2014 | |
Scenario, Forecast [Member] | Subsequent Events [Member] | |
Subsequent Event [Line Items] | ' | ' |
Payments to be made to collaborator under the companion diagnostic agreement | $6,700,000 | ' |
Agreement term | '5 years | ' |
Maximum amount that may be credited towards any amounts due from collaborator for 3rd party license income received by the Company | ' | $60,000,000 |
Percentage of 3rd party license income received by the Company that is credited towards any amounts due from collaborator | ' | 15.00% |
License and collaboration agreement amendment date | ' | 29-Apr-14 |