Synageva BioPharma 10-Q 31 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 25, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Entity Registrant Name	'SYNAGEVA BIOPHARMA CORP	'
Entity Central Index Key	'0000911326	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	33,165,493

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$70,453	$62,137
Short-term investments	464,048	346,596
Accounts receivable	2,241	1,373
Prepaid expenses and other current assets	8,899	6,617
Total current assets	545,641	416,723
Property and equipment, net	30,369	17,213
Developed technology, net	2,565	3,491
Goodwill	8,535	8,535
Other assets	6,125	1,987
Total assets	593,235	447,949
Current liabilities:	'	'
Accounts payable	4,620	2,427
Accrued expenses	22,008	11,121
Deferred revenue	'	232
Other current liabilities	641	140
Total current liabilities	27,269	13,920
Other liabilities	5,352	3,828
Total liabilities	32,621	17,748
Commitments and contingencies (Note 8)	'	'
Stockholders' equity:	'	'
Common stock, par value $0.001; 60,000 shares authorized at June 30, 2014 and December 31, 2013, respectively; 33,159 and 30,768 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	33	31
Additional paid-in capital	901,535	684,468
Accumulated other comprehensive loss	-51	-59
Accumulated deficit	-340,903	-254,239
Total stockholders' equity	560,614	430,201
Total liabilities and stockholders' equity	$593,235	$447,949

Consolidated_Balance_Sheets_Un1

Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Per Share data, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	60,000	60,000
Common stock, shares issued	33,159	30,768
Common stock, shares outstanding	33,159	30,768

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue:	'	'	'	'
Royalty revenue	$2,240	$2,944	$3,687	$4,649
Collaboration and license revenue	103	469	242	3,882
Total revenue	2,343	3,413	3,929	8,531
Costs and expenses:	'	'	'	'
Research and development	39,528	18,454	67,396	31,792
Selling, general and administrative	12,591	6,443	22,395	12,097
Amortization of developed technology	537	706	927	1,405
Total costs and expenses	52,656	25,603	90,718	45,294
Loss from operations	-50,313	-22,190	-86,789	-36,763
Interest income	98	83	173	172
Other expense, net	-9	'	-14	'
Loss before provision for income taxes	-50,224	-22,107	-86,630	-36,591
Provision for income taxes	16	'	34	'
Net loss	($50,240)	($22,107)	($86,664)	($36,591)
Basic and diluted net loss per share	($1.52)	($0.81)	($2.69)	($1.35)
Weighted average shares used in basic and diluted per share computations	33,057	27,280	32,210	27,055

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]	'	'	'	'
Net Loss	($50,240)	($22,107)	($86,664)	($36,591)
Other comprehensive loss:	'	'	'	'
Fair market value adjustments of available for sale securities	-17	-20	34	-12
Foreign currency translation adjustments	-21	-7	-26	-9
Total other comprehensive loss	-38	-27	8	-21
Comprehensive loss	($50,278)	($22,134)	($86,656)	($36,612)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities	'	'
Net Loss	($86,664)	($36,591)
Adjustments:	'	'
Depreciation and amortization	3,150	2,658
Stock compensation expense	7,426	3,586
Amortization of premium on investments	1,640	1,317
Acquired in-process research and development	'	2,500
Changes in assets and liabilities:	'	'
Accounts receivable	-868	-1,207
Prepaid expenses, other current assets and other assets	-2,529	-3,196
Accounts payable	-27	-133
Accrued expenses, other current liabilities and other liabilities	8,514	1,150
Deferred revenue	-232	-3,238
Net cash used in operating activities	-69,590	-33,154
Cash flows from investing activities	'	'
Purchase of available for sale investments	-304,758	-162,027
Proceeds from sales and maturities available for sale investments	185,700	118,700
Purchase of equity method investment	-4,104	'
Purchase of in-process research and development	'	-2,500
Capital expenditures	-8,877	-7,941
Restricted cash	320	-2,868
Net cash used in investing activities	-131,719	-56,636
Cash flows from financing activities	'	'
Proceeds from issuance of common stock, net of issuance costs	200,925	111,245
Proceeds from exercise of stock options	8,718	2,430
Net cash provided by financing activities	209,643	113,675
Effect of exchange rate on cash	-18	-8
Net increase in cash and equivalents	8,316	23,877
Cash and equivalents at the beginning of period	62,137	23,883
Cash and equivalents at the end of period	70,453	47,760
Capitalization of construction in progress related to facility lease obligation (Note 8)	2,133	'
Capital expenditures incurred but not yet paid	$4,158	$2,507

Nature_of_the_Business

Nature of the Business	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Nature of the Business	'
	1	Nature of the Business
	Synageva BioPharma Corp. (Synageva or the Company) is a biopharmaceutical company focused on the discovery, development, and commercialization of therapeutic products for patients with rare diseases. The Company’s most advanced pipeline programs are enzyme replacement therapies for lysosomal storage diseases (LSDs). The Company’s lead program, sebelipase alfa, is in global Phase 3 clinical trials for the treatment of infants, children and adults with lysosomal acid lipase deficiency (LAL Deficiency), a rare and devastating disease that causes significant morbidity and early mortality. On June 30, 2014, the Company reported positive top-line results from its global Phase 3 ARISE (Acid Lipase Replacement Investigating Safety and Efficacy) trial of sebelipase alfa in children and adults with LAL Deficiency (see “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” for additional information). In addition to sebelipase alfa, the Company has multiple other ongoing research programs at different stages of preclinical development, including SBC-103, another enzyme replacement therapy for an LSD known as mucopolysaccharidosis type IIIB (MPS IIIB) or Sanfilippo B. The Company’s pipeline programs include proteins targeting rare diseases at various stages of preclinical development. These diseases are characterized by significant morbidity and mortality and are selected based on scientific rationale, high unmet medical need, potential to impact disease course and strategic alignment with our corporate and commercial focus. The Company owns the worldwide commercial rights to these programs.
	The Company’s business is subject to risks including those common to companies in the biopharmaceutical industry, such as the successful development of products, patient enrollment, clinical trial uncertainty, regulatory approval, fluctuations in operating results and financial risks, potential need for additional funding, protection of proprietary technology and patent risks, compliance with government regulations, dependence on key personnel, competition, technological and medical risks and management of growth.
	The Company has incurred losses since inception and at June 30, 2014, had an accumulated deficit of $340.9 million. The Company expects to incur losses over the next several years as it continues to expand its drug discovery, development efforts and commercial activities. As a result of continuing losses, the Company may seek additional funding through a combination of public or private financing, collaborative relationships, licensing or other arrangements. The Company may not be able to obtain financing on acceptable terms, or at all, and the Company may not be able to enter into new collaboration or license agreements. If the Company is unable to obtain additional funding on a timely basis, it may be required to curtail or terminate some or all of its development programs, including some or all of its drug candidates.
	Through June 30, 2014, the Company has funded its operations primarily from proceeds of the sale of stock, royalty income and collaboration agreements. On March 5, 2014, the Company announced the pricing of a $211.5 million underwritten public offering of 2.0 million shares of common stock at a price per share of $105.75. The Company received net proceeds of approximately $200.9 million from this offering. In addition to this financing, the Company received aggregate net proceeds of approximately $473.9 million from public equity offerings in fiscal 2013 and 2012.
	The Company currently intends to use its cash, cash equivalents and investments for general corporate purposes, which may include expanding its infrastructure, including commercial and manufacturing, to benefit sebelipase alfa and the rest of its pipeline, supporting its clinical studies, supporting the advancement of SBC-103, accelerating its early-stage programs, and acquiring technologies or businesses that are complementary to its current technologies and business focus. The Company expects that it will have sufficient cash and cash equivalents to sustain operations to at least the second half of 2016.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2	Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for Quarterly Reports on Form 10-Q and do not include all of the information and note disclosures required by the accounting principles generally accepted in the United States of America (U.S. GAAP) for complete financial statements. The Financial Statements should therefore be read in conjunction with the Financial Statements and Notes thereto for the fiscal year ended December 31, 2013 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 3, 2014.
	The accompanying Financial Statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect amounts reported in the Financial Statements and accompanying disclosures. Although these estimates are based on the information reasonably available and actions that the Company may undertake in the future, actual results may be different from those estimates. The Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair statement of results for these interim periods. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014.
	Principles of Consolidation
	The Company’s consolidated financial statements include the accounts of Synageva and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
	Significant Accounting Policies
	There have been no material changes to the Company’s significant accounting policies during the three and six months ended June 30, 2014, as compared to the significant accounting policies disclosed in Note 2, Summary of Significant Accounting Policies, of the Company’s financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2013.
	Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board issued an accounting standards update clarifying the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The updated guidance requires the netting of unrecognized tax benefits against a deferred tax asset for a loss or other carryforward when settlement of the liability for an unrecognized tax benefit in this manner is available. The update is effective prospectively for reporting periods beginning after December 15, 2013, and early adoption and retrospective adoption are permitted. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements or disclosures.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	3	Fair Value of Financial Instruments
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with a remaining maturity at the date of purchase of 90 days or less to be cash equivalents. At June 30, 2014 and December 31, 2013, substantially all cash equivalents were U.S. treasury bills and amounts held in money market accounts at commercial banks.
	Investments
	All of the Company’s investments were classified as available-for-sale at June 30, 2014 and December 31, 2013. The principal amounts of short-term investments are summarized in the tables below:
			Less Than 12 Months to Maturity
			Amortized		Unrealized		Unrealized			Fair Value
			Cost		Gains		Gains
							(Losses)
	Balance at June 30, 2014:
	U.S. Treasury securities		$	464,035	$	—	$	13		$	464,048
	Total		$	464,035	$	—	$	13		$	464,048
	Balance at December 31, 2013:
	U.S. Treasury securities		$	346,618	$	—	$	(22	)	$	346,596
	Total		$	346,618	$	—	$	(22	)	$	346,596
	The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2014:
			June 30,		Quoted		Significant			Significant
			2014		Price in		Other			Unobservable
					Active		Observable			Inputs
					Markets		Inputs			(Level 3)
					(Level 1)		(Level 2)
	Assets
	Cash equivalents
	Money market fund		$	49,902	$	49,902	$	—		$	—
	US treasury securities		$	6,502	$	—	$	6,502		$	—
	Marketable securities
	US treasury securities		$	464,048	$	—	$	464,048		$	—
	Total		$	520,452	$	49,902	$	470,550		$	—
	Level 1 inputs are quoted prices in active markets for identical assets or liabilities and consist of cash and money market funds. Items classified as Level 2 within the valuation hierarchy consist of U.S. government-related debt securities. We estimate the fair values of these marketable securities by taking into consideration valuations obtained from third-party pricing sources. These pricing sources utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include market pricing based on real-time trade data for the same or similar securities, issuer credit spreads, benchmark yields, and other observable inputs. We validate the prices provided by our third-party pricing sources by understanding the models used, obtaining market values from other pricing sources and analyzing pricing data in certain instances.
	The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:
			December 31,		Quoted		Significant			Significant
			2013		Price in		Other			Unobservable
					Active		Observable			Inputs
					Markets		Inputs			(Level 3)
					(Level 1)		(Level 2)
	Assets
	Cash equivalents
	Money market fund		$	27,899	$	27,899	$	—		$	—
	US treasury securities		$	21,021	$	—	$	21,021		$	—
	Marketable securities
	US treasury securities		$	346,596	$	—	$	346,596		$	—
	Total		$	395,516	$	27,899	$	367,617		$	—

Supplemental_Balance_Sheet_Inf

Supplemental Balance Sheet Information	6 Months Ended
	Jun. 30, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]	'
Supplemental Balance Sheet Information	'
	4	Supplemental Balance Sheet Information
	Prepaid expenses and other current assets consist of the following:
			June 30,		December 31,
			2014		2013
	Prepaid clinical, manufacturing, and scientific costs		$	4,925	$	3,960
	Interest receivable			1,130		859
	Prepaid insurance			740		958
	Other			2,104		840
			$	8,899	$	6,617
	Other non-current assets consist of the following:
			June 30,		December 31,
			2014		2013
	Restricted cash		$	2,151	$	1,935
	Equity method investment			3,891		—
	Other			83		52
			$	6,125	$	1,987
	Restricted cash relates to deposits associated with construction activities at our new Bogart, GA facility and a long-term letter of credit associated with our headquarters in Lexington, MA.
	Strategic Investment
	During the second quarter of 2014, Synageva made a strategic investment in a privately-held biotechnology company focused on the development of targeted treatments for liver diseases. Under the terms of the exclusive agreement, Synageva made an initial $5.0 million non-refundable payment, which in part will be used to fund preclinical development through proof of concept for an undisclosed initial program, and has the option to fund further preclinical development. Upon achievement of certain development milestones for the initial program, Synageva has the option to acquire the company for $28.5 million plus additional payments based on achievement of development, regulatory and revenue milestones.
	Synageva determined that this investment represents a variable interest in a variable interest entity (VIE). Variable interests in VIEs are investments or other interests that absorb portions of a VIEs expected losses or receive portions of the entity’s expected returns. According to the accounting guidance, a variable interest holder must evaluate whether it is the VIE’s primary beneficiary, to determine whether consolidation accounting is required. Only one entity can be the primary beneficiary. The Company evaluated the applicable criteria and determined that, while it may be in a position to benefit most significantly from the investment, it does not have the power to direct the activities that most significantly impacts the economic performance of the VIE. The Company believes those powers reside with the management of the VIE. Therefore, the Company is not required to consolidate the VIE in its financial statements at this time. The consolidation assessment could change if significant changes to the relationship occur in the future, such as if the option to acquire is exercised. The Company next evaluated whether its involvement in the VIE provides it with “significant influence” over the investment, which is the determining factor to determine whether to account for the investment under the equity or cost methods. The Company’s ownership percentage at the onset of the arrangement was approximately 12%, which is below the 20% presumed percentage of significant influence. However, because of the continued involvement in reviewing the progress of the development program, the Company determined that it does have a significant level of influence, as defined by the accounting guidance.
	The initial $5.0 million investment was comprised of a $1.5 million upfront cash payment and $3.5 million cash payment for Series A-1 Preferred Stock. In addition, the Company capitalized $0.6 million of direct costs associated with the investment. The $4.1 million equity method investment is being amortized based on the Company’s pro-rata share of the investment’s net income or net loss. The $1.5 million upfront cash payment is being expensed, as services are being performed, over the estimated development period, on a straight-line basis. As of June 30, 2014, the equity method investment totaled $3.9 million and is included in other assets in our accompanying consolidated balance sheets. The $3.9 million equity method investment represents the Company’s current maximum exposure to loss related to the VIE.
	Accrued expenses consist of the following:
			June 30,		December 31,
			2014		2013
	Accrued compensation and benefits		$	4,448	$	3,244
	Clinical, manufacturing and scientific costs			13,911		6,587
	Professional fees			845		568
	Accrued capital expenditures(1)			1,945		—
	Other			859		722
			$	22,008	$	11,121
	-1	Total incurred but not yet paid capital expenditures totaled $4,158, as disclosed on the statement of cash flows. The remaining $2,213 of the total was included in our accounts payable balance as of June 30, 2014.

Share_Based_Payments

Share Based Payments	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Share Based Payments	'
	5	Share Based Payments
	The 2014 Equity Incentive Plan (2014 Plan) was approved by the Company’s stockholders at the Company’s annual meeting of stockholders, held June 4, 2014. The 2014 Plan replaced the Company’s 2005 Stock Plan as the equity compensation plan from which the Company may make equity based awards to employees, directors and consultants. The 2014 Plan provides for the issuance of up to 2.5 million shares of the Company’s common stock, plus up to 1.0 million of additional shares if those awards under the 2005 Stock Plan are cancelled or expire. Shares subject to outstanding awards under the 2005 Option Plan and 2014 Stock Plan totaled 2.2 million and 1.0 million, respectively, as of June 30, 2014. At June 30, 2014, there were 1.6 million shares remaining available for grant under the 2014 Plan.
	The Company uses the Black-Scholes option pricing model to measure the fair value of its option awards. The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option-pricing model. The expected life assumption is based on the limited exercise historical experience at the Company, management’s expectations based on the length of time that an employee will stay at the Company, the vesting period of four years and the contractual term of ten years. The Company estimates volatility using a blended approach encompassing: (i) Historical experience and peer group (including industry, size, life cycle and financial leverage), and (ii) Implied volatility from publicly traded options with the longest available contractual terms. The risk-free interest rate is based on the U.S. Treasury zero coupon rate with a remaining term approximating the expected term used as the input to the Black-Scholes option pricing model.
	The Company also maintains an Employee Stock Purchase Plan (the ESPP), which allows eligible employees to use payroll deductions to purchase shares of the Company’s common stock at a discount of 15% to the lesser of the fair market value of the Company’s stock on (i) the date on which an employee elects to participate in the ESPP and (ii) the closing price on the last day of the ESPP option period. The plan is considered a compensatory employee stock purchase plan, results in incremental stock-based compensation expense in future periods. Option periods under the ESPP run from January 1 to June 30 and July 1 to December 31 of each year.
	A summary of stock option activity under all equity plans for the three months ended June 30, 2014 is as follows:
			Number			Weighted
			of			Average
			Shares			Exercise
						Price
	Outstanding at December 31, 2013			2,710		$	34.05
	Options granted			100			97.93
	Options exercised			(202	)		14.71
	Options canceled or expired			(34	)		46.61
	Outstanding at March 31, 2014			2,574		$	37.88
	Options granted			971			80.35
	Options exercised			(184	)		30.22
	Options canceled or expired			(55	)		55.17
	Outstanding at June 30, 2014			3,306		$	50.48
	The Company recognized stock-based compensation expense on all stock option awards for the three and six months ended June 30, 2014 and 2013, as follows:
			Three Months Ended					Six Months Ended
			June 30,					June 30,
			2014			2013		2014		2013
	Research and development		$	1,841		$	712	$	3,308	$	1,376
	Selling, general and administrative			2,404			1,158		4,118		2,210
			$	4,245		$	1,870	$	7,426	$	3,586

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Accumulated Other Comprehensive Income (Loss)	'
	6	Accumulated Other Comprehensive Income (Loss)
	The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax by component:
			Unrealized			Translation			Total
			Gains on			Adjustments
			Available
			for Sale
			Securities
	Balance, as of December 31, 2013		$	(22	)	$	(37	)	$	(59	)
	Other comprehensive loss before reclassifications			34			(26	)		8
	Amounts reclassified from accumulated other comprehensive loss			—			—			—
	Net current period other comprehensive income (loss)			34			(26	)		8
	Balance, as of June 30, 2014		$	12		$	(63	)	$	(51	)

Basic_and_Diluted_Net_Loss_per

Basic and Diluted Net Loss per Common Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Basic and Diluted Net Loss per Common Share	'
	7	Basic and Diluted Net Loss per Common Share
	Basic net loss per common share has been computed by dividing net loss by the weighted average number of shares outstanding during the period. Diluted net income per share, if applicable, has been computed by dividing diluted net income by the diluted number of shares outstanding during the period. Except where the result would be antidilutive to loss from continuing operations, diluted net loss per share has been computed assuming the exercise of stock options, as well as their related income tax effects. The following table sets forth the computation of basic and diluted net loss per common share:
			Three Months Ended						Six Months Ended
			June 30,						June 30,
			2014			2013			2014			2013
	Numerator:
	Net loss		$	(50,240	)	$	(22,107	)	$	(86,664	)	$	(36,591	)
	Denominator
	Weighted average common shares
	Denominator for basic calculation			33,057			27,280			32,210			27,055
	Denominator for diluted calculation			33,057			27,280			32,210			27,055
	Net loss per share:
	Basic		$	(1.52	)	$	(0.81	)	$	(2.69	)	$	(1.35	)
	Diluted		$	(1.52	)	$	(0.81	)	$	(2.69	)	$	(1.35	)
	The Company’s potential dilutive securities, which include stock options, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average common stock outstanding used to calculate both basic and diluted net loss per share are the same. The following shares of potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding as the effect of including such securities would be antidilutive (in thousands):
			June 30,
			2014			2013
	Options to purchase common stock			3,306			2,829

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments And Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	8	Commitments and Contingencies
	There have been no significant changes to the Company’s commitments and contingencies and occupancy arrangements in the six months ended June 30, 2014, as compared to those disclosed in Note 12, “Commitments and Contingencies” included in our Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the SEC on March 3, 2014, except as summarized below.
	Occupancy Arrangements
	Bogart, GA Manufacturing Facility Lease and Buildout
	In October 2013, the Company entered into a lease agreement for two 35,000 square foot shell buildings on twelve acres in Bogart, Georgia. The construction of the shell buildings is being provided by the landlord and was completed late in the second quarter of 2014. In conjunction with the construction, the Company is outfitting the shell buildings to its specifications.
	The landlord construction and tenant improvements are in accordance with the Company’s plans and include substantial outfitting of the building. The scope of the planned tenant improvements do not qualify as “normal tenant improvements” under the lease accounting guidance. Accordingly, for accounting purposes, the Company is the deemed owner of the buildings during the construction period. As construction progresses, the Company records the project construction costs incurred as an asset, along with a corresponding facility lease obligation, on the balance sheet for the total amount of project costs incurred whether funded by the Company or the landlord. Based on the current terms of the lease, the Company expects to continue to be the deemed owner of the buildings upon completion of the construction period.
	As of June 30, 2014, the Company has recorded total construction in process for the Bogart facility of $13.3 million, $3.8 million of which related to landlord funded construction.
	Lexington, MA Headquarters
	On February 20, 2014, the Company entered into a lease amendment to expand the currently leased corporate headquarters located at 33 Hayden Avenue, Lexington, Massachusetts by 29,316 rentable square feet. The Company began occupying the expanded space in June 2014 upon the completion of landlord building modifications. The total combined leased space, including the additional space, totals 80,872 square feet. The initial term of the amendment begins upon the Company occupying the additional space, through December 2019, concurrent with the original lease.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for Quarterly Reports on Form 10-Q and do not include all of the information and note disclosures required by the accounting principles generally accepted in the United States of America (U.S. GAAP) for complete financial statements. The Financial Statements should therefore be read in conjunction with the Financial Statements and Notes thereto for the fiscal year ended December 31, 2013 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 3, 2014.
	The accompanying Financial Statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect amounts reported in the Financial Statements and accompanying disclosures. Although these estimates are based on the information reasonably available and actions that the Company may undertake in the future, actual results may be different from those estimates. The Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair statement of results for these interim periods. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014.
Principles of Consolidation	'
	Principles of Consolidation
	The Company’s consolidated financial statements include the accounts of Synageva and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Significant Accounting Policies	'
	Significant Accounting Policies
	There have been no material changes to the Company’s significant accounting policies during the three and six months ended June 30, 2014, as compared to the significant accounting policies disclosed in Note 2, Summary of Significant Accounting Policies, of the Company’s financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2013.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board issued an accounting standards update clarifying the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The updated guidance requires the netting of unrecognized tax benefits against a deferred tax asset for a loss or other carryforward when settlement of the liability for an unrecognized tax benefit in this manner is available. The update is effective prospectively for reporting periods beginning after December 15, 2013, and early adoption and retrospective adoption are permitted. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements or disclosures.

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Summary of Amortized Cost and Estimated Fair Values	'
	The principal amounts of short-term investments are summarized in the tables below:
		Less Than 12 Months to Maturity
		Amortized		Unrealized		Unrealized			Fair Value
		Cost		Gains		Gains
						(Losses)
	Balance at June 30, 2014:
	U.S. Treasury securities	$	464,035	$	—	$	13		$	464,048
	Total	$	464,035	$	—	$	13		$	464,048
	Balance at December 31, 2013:
	U.S. Treasury securities	$	346,618	$	—	$	(22	)	$	346,596
	Total	$	346,618	$	—	$	(22	)	$	346,596
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	'
	The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2014:
		June 30,		Quoted		Significant			Significant
		2014		Price in		Other			Unobservable
				Active		Observable			Inputs
				Markets		Inputs			(Level 3)
				(Level 1)		(Level 2)
	Assets
	Cash equivalents
	Money market fund	$	49,902	$	49,902	$	—		$	—
	US treasury securities	$	6,502	$	—	$	6,502		$	—
	Marketable securities
	US treasury securities	$	464,048	$	—	$	464,048		$	—
	Total	$	520,452	$	49,902	$	470,550		$	—
	The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:
		December 31,		Quoted		Significant			Significant
		2013		Price in		Other			Unobservable
				Active		Observable			Inputs
				Markets		Inputs			(Level 3)
				(Level 1)		(Level 2)
	Assets
	Cash equivalents
	Money market fund	$	27,899	$	27,899	$	—		$	—
	US treasury securities	$	21,021	$	—	$	21,021		$	—
	Marketable securities
	US treasury securities	$	346,596	$	—	$	346,596		$	—
	Total	$	395,516	$	27,899	$	367,617		$	—

Supplemental_Balance_Sheet_Inf1

Supplemental Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]	'
Summary of Prepaid Expenses and Other Current Assets	'
	Prepaid expenses and other current assets consist of the following:
			June 30,		December 31,
			2014		2013
	Prepaid clinical, manufacturing, and scientific costs		$	4,925	$	3,960
	Interest receivable			1,130		859
	Prepaid insurance			740		958
	Other			2,104		840
			$	8,899	$	6,617
Summary of Other Non-Current Assets	'
	Other non-current assets consist of the following:
			June 30,		December 31,
			2014		2013
	Restricted cash		$	2,151	$	1,935
	Equity method investment			3,891		—
	Other			83		52
			$	6,125	$	1,987
Accrued Expenses	'
	Accrued expenses consist of the following:
			June 30,		December 31,
			2014		2013
	Accrued compensation and benefits		$	4,448	$	3,244
	Clinical, manufacturing and scientific costs			13,911		6,587
	Professional fees			845		568
	Accrued capital expenditures(1)			1,945		—
	Other			859		722
			$	22,008	$	11,121
	-1	Total incurred but not yet paid capital expenditures totaled $4,158, as disclosed on the statement of cash flows. The remaining $2,213 of the total was included in our accounts payable balance as of June 30, 2014.

Share_Based_Payments_Tables

Share Based Payments (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Summary of Stock Option Activity under all Equity Plans	'
	A summary of stock option activity under all equity plans for the three months ended June 30, 2014 is as follows:
		Number			Weighted
		of			Average
		Shares			Exercise
					Price
	Outstanding at December 31, 2013		2,710		$	34.05
	Options granted		100			97.93
	Options exercised		(202	)		14.71
	Options canceled or expired		(34	)		46.61
	Outstanding at March 31, 2014		2,574		$	37.88
	Options granted		971			80.35
	Options exercised		(184	)		30.22
	Options canceled or expired		(55	)		55.17
	Outstanding at June 30, 2014		3,306		$	50.48
Recognized Stock-Based Compensation Expense on all Stock Option Awards	'
	The Company recognized stock-based compensation expense on all stock option awards for the three and six months ended June 30, 2014 and 2013, as follows:
		Three Months Ended					Six Months Ended
		June 30,					June 30,
		2014			2013		2014		2013
	Research and development	$	1,841		$	712	$	3,308	$	1,376
	Selling, general and administrative		2,404			1,158		4,118		2,210
		$	4,245		$	1,870	$	7,426	$	3,586

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Component of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax	'
	The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax by component:
		Unrealized			Translation			Total
		Gains on			Adjustments
		Available
		for Sale
		Securities
	Balance, as of December 31, 2013	$	(22	)	$	(37	)	$	(59	)
	Other comprehensive loss before reclassifications		34			(26	)		8
	Amounts reclassified from accumulated other comprehensive loss		—			—			—
	Net current period other comprehensive income (loss)		34			(26	)		8
	Balance, as of June 30, 2014	$	12		$	(63	)	$	(51	)

Basic_and_Diluted_Net_Loss_per1

Basic and Diluted Net Loss per Common Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Computation of Basic and Diluted Net Loss Per Common Share	'
	The following table sets forth the computation of basic and diluted net loss per common share:
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Numerator:
	Net loss	$	(50,240	)	$	(22,107	)	$	(86,664	)	$	(36,591	)
	Denominator
	Weighted average common shares
	Denominator for basic calculation		33,057			27,280			32,210			27,055
	Denominator for diluted calculation		33,057			27,280			32,210			27,055
	Net loss per share:
	Basic	$	(1.52	)	$	(0.81	)	$	(2.69	)	$	(1.35	)
	Diluted	$	(1.52	)	$	(0.81	)	$	(2.69	)	$	(1.35	)
Computations of Diluted Weighted Average Shares Outstanding	'
	The following shares of potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding as the effect of including such securities would be antidilutive (in thousands):
		June 30,
		2014			2013
	Options to purchase common stock		3,306			2,829

Nature_of_the_Business_Additio

Nature of the Business - Additional Information (Detail) (USD $)	6 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 05, 2014
				Public Offering Closing on March 2013 [Member]
Nature Of Business [Line Items]	'	'	'	'
Accumulated deficit	($340,903,000)	($254,239,000)	'	'
Closure of underwritten public offering	'	'	'	211,500,000
Shares of common stock offered	'	'	'	2
Price per share of common stock offered	'	'	'	$106
Net proceeds from public offering	'	$473,900,000	$473,900,000	$200,900,000
Cash and cash equivalents, description	'Expects that it will have sufficient cash and cash equivalents to sustain operations to at least the second half of 2016.	'	'	'

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Maturity period of highly liquid investments	'90 days

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments - Summary of Amortized Cost and Estimated Fair Values (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	$464,035	$346,618
Unrealized Gains (Losses)	13	-22
Fair Value	464,048	346,596
U.S. Treasury Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	464,035	346,618
Unrealized Gains (Losses)	13	-22
Fair Value	$464,048	$346,596

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets	'	'
Marketable securities	$464,048	$346,596
Assets	520,452	395,516
Money Market Fund [Member]	'	'
Assets	'	'
Cash equivalents-money market fund	49,902	27,899
US Treasury Securities Cash Equivalents [Member]	'	'
Assets	'	'
Cash equivalents-money market fund	6,502	21,021
US Treasury Securities Marketable Securities [Member]	'	'
Assets	'	'
Marketable securities	464,048	346,596
Quoted Price in Active Markets (Level 1) [Member]	'	'
Assets	'	'
Assets	49,902	27,899
Quoted Price in Active Markets (Level 1) [Member] | Money Market Fund [Member]	'	'
Assets	'	'
Cash equivalents-money market fund	49,902	27,899
Significant Other Observable Inputs (Level 2) [Member]	'	'
Assets	'	'
Assets	470,550	367,617
Significant Other Observable Inputs (Level 2) [Member] | US Treasury Securities Cash Equivalents [Member]	'	'
Assets	'	'
Cash equivalents-money market fund	6,502	21,021
Significant Other Observable Inputs (Level 2) [Member] | US Treasury Securities Marketable Securities [Member]	'	'
Assets	'	'
Marketable securities	$464,048	$346,596

Supplemental_Balance_Sheet_Inf2

Supplemental Balance Sheet Information - Summary of Prepaid Expenses and Other Current Assets (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]	'	'
Prepaid clinical, manufacturing, and scientific costs	$4,925	$3,960
Interest receivable	1,130	859
Prepaid insurance	740	958
Other	2,104	840
Total	$8,899	$6,617

Supplemental_Balance_Sheet_Inf3

Supplemental Balance Sheet Information - Summary of Other Non-Current Assets (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]	'	'
Restricted cash	$2,151	$1,935
Equity method investment	3,891	'
Other	83	52
Other assets	$6,125	$1,987

Supplemental_Balance_Sheet_Inf4

Supplemental Balance Sheet Information - Additional Information (Detail) (USD $)	3 Months Ended
	Jun. 30, 2014
Schedule of Equity Method Investments [Line Items]	'
Initial non-refundable payment to fund preclinical development	$5,000,000
Option to acquire company upon achievement of development milestones for the initial program	28,500,000
Ownership percentage of investment	12.00%
Presumed percentage of significant influence	20.00%
Upfront cash payment	1,500,000
Direct costs capitalized	600,000
Equity method investment being amortized	4,100,000
Equity method investment	3,891,000
Series A-1 Preferred Stock [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Cash payment for preferred stock	$3,500,000

Supplemental_Balance_Sheet_Inf5

Supplemental Balance Sheet Information - Accrued Expenses (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]	'	'
Accrued compensation and benefits	$4,448	$3,244
Clinical, manufacturing and scientific costs	13,911	6,587
Professional fees	845	568
Accrued capital expenditures	1,945	'
Other	859	722
Accrued liabilities, current	$22,008	$11,121

Supplemental_Balance_Sheet_Inf6

Supplemental Balance Sheet Information - Accrued Expenses (Parenthetical) (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]	'	'
Capital expenditures incurred but not yet paid	$4,158	$2,507
Accounts payable balance	$2,213	'

Share_Based_Payments_Additiona

Share Based Payments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]	'	'
Issuance of common stock	33,159,000	30,768,000
Vesting period	'4 years	'
Contractual term	'10 years	'
Treasury stock coupon rate	0.00%	'
2014 Equity Incentive Plan [Member]	'	'
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]	'	'
Shares subject to outstanding awards under the plan	1,000,000	'
Shares available for grant under the plan	1,600,000	'
2014 Equity Incentive Plan [Member] | Maximum [Member]	'	'
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]	'	'
Issuance of common stock	2,500,000	'
2005 Stock Option Plan [Member]	'	'
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]	'	'
Shares subject to outstanding awards under the plan	2,200,000	'
2005 Stock Option Plan [Member] | Maximum [Member]	'	'
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]	'	'
Additional number of shares of common stock available for issuance	1,000,000	'
Employee Stock Purchase Plan [Member]	'	'
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]	'	'
Common stock at a discount	15.00%	'
Employee stock purchase plan option period, description	'Option periods under the ESPP run from January 1 to June 30 and July 1 to December 31 of each year.	'

Share_Based_Payments_Summary_o

Share Based Payments - Summary of Stock Option Activity under all Equity Plans (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'	'
Beginning balance, Number of Shares	2,574	2,710
Options granted, Number of Shares	971	100
Options exercised, Number of Shares	-184	-202
Options canceled or expired, Number of Shares	-55	-34
Ending balance, Number of Shares	3,306	2,574
Beginning balance, Weighted Average Exercise Price	$37.88	$34.05
Options granted, Weighted Average Exercise Price	$80.35	$97.93
Options exercised, Weighted Average Exercise Price	$30.22	$14.71
Options canceled or expired, Weighted Average Exercise Price	$55.17	$46.61
Ending balance, Weighted Average Exercise Price	$50.48	$37.88

Share_Based_Payments_Recognize

Share Based Payments - Recognized Stock-Based Compensation Expense on all Stock Option Awards (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total operating expenses	$4,245	$1,870	$7,426	$3,586
Research and Development [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total operating expenses	1,841	712	3,308	1,376
Selling, General and Administrative [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total operating expenses	$2,404	$1,158	$4,118	$2,210

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) - Component of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Beginning, balance	'	'	($59)	'
Other comprehensive loss before reclassifications	'	'	8	'
Amounts reclassified from accumulated other comprehensive loss	'	'	'	'
Total other comprehensive loss	-38	-27	8	-21
Ending, balance	-51	'	-51	'
Unrealized Gains on Available for Sale Securities [Member]	'	'	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Beginning, balance	'	'	-22	'
Other comprehensive loss before reclassifications	'	'	34	'
Amounts reclassified from accumulated other comprehensive loss	'	'	'	'
Total other comprehensive loss	'	'	34	'
Ending, balance	12	'	12	'
Translation Adjustments [Member]	'	'	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Beginning, balance	'	'	-37	'
Other comprehensive loss before reclassifications	'	'	-26	'
Amounts reclassified from accumulated other comprehensive loss	'	'	'	'
Total other comprehensive loss	'	'	-26	'
Ending, balance	($63)	'	($63)	'

Recovered_Sheet1

Basic and Diluted Net Loss Per Common Share - Computation of Basic and Diluted Net Loss Per Common Share (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Numerator:	'	'	'	'
Net Loss	($50,240)	($22,107)	($86,664)	($36,591)
Denominator	'	'	'	'
Weighted average common shares, Denominator for basic calculation	33,057	27,280	32,210	27,055
Weighted average common shares, Denominator for diluted calculation	33,057	27,280	32,210	27,055
Net loss per share:	'	'	'	'
Basic	($1.52)	($0.81)	($2.69)	($1.35)
Diluted	($1.52)	($0.81)	($2.69)	($1.35)

Recovered_Sheet2

Basic and Diluted Net Loss Per Common Share - Computations of Diluted Weighted Average Shares Outstanding (Detail) (Equity Option [Member])	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Equity Option [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share, amount	3,306	2,829

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	0 Months Ended	1 Months Ended
In Millions, unless otherwise specified	Feb. 20, 2014	Oct. 31, 2013	Jun. 30, 2014
	sqft	Buildings
		sqft
		acre
Commitments And Contingencies Disclosure [Line Items]	'	'	'
Number of shell buildings under lease agreement	'	2	'
Area of each shell buildings	'	35,000	'
Area of land in acres	'	12	'
Total construction in process	'	'	$13.30
Additional leases space	29,316	'	'
Total leases space	80,872	'	'
Landlord [Member]	'	'	'
Commitments And Contingencies Disclosure [Line Items]	'	'	'
Total construction in process	'	'	$3.80