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CONDENSED STATEMENTS OF CASH FLOWS CHANGE IN CASH AND CASH EQUIVALENTS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (18,671) $ (17,174)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 22 29
Accretion and amortization on investments, net 1,176 1,456
Loss on retirement of property and equipment   3
Stock-based compensation for services by non-employees 179 149
Stock-based compensation for employees and directors 4,389 3,743
Amortization related to 401(k) contributions 158 76
Unrealized gain on derivatives (16) (77)
Changes in assets and liabilities:    
Other current and noncurrent assets (221) (419)
Other current liabilities (1,056) (2,441)
Net cash used in operating activities (14,040) (14,655)
Cash flows from investing activities:    
Purchases of marketable securities (109,090) (128,203)
Proceeds from sales and maturities of marketable securities 94,577 41,663
Net cash used in investing activities (14,513) (86,540)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 1,555 97,725
Net cash provided by financing activities 1,555 97,725
Net decrease in cash and cash equivalents (26,998) (3,470)
Cash and cash equivalents at the beginning of the period 42,796 12,990
Cash and cash equivalents at the end of the period $ 15,798 $ 9,520