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CONDENSED STATEMENTS OF CASH FLOWS CHANGE IN CASH AND CASH EQUIVALENTS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (8,842) $ (9,315)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 21 9
Accretion and amortization on investments, net 284 629
Stock-based compensation for services by non-employees 50 67
Stock-based compensation for employees and directors 2,019 2,013
Amortization related to 401(k) contributions 53 154
Unrealized gain on derivatives   (16)
Changes in assets and liabilities:    
Other current assets 813 (95)
Other current liabilities 24 (1,151)
Net cash used in operating activities (5,578) (7,705)
Cash flows from investing activities:    
Purchases of property and equipment (26) (7)
Purchases of marketable securities (46,751) (78,869)
Proceeds from maturities of marketable securities 43,083 52,490
Net cash used in investing activities (3,694) (26,386)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 826 1,477
Net cash provided by financing activities 826 1,477
Net decrease in cash and cash equivalents (8,446) (32,614)
Cash and cash equivalents at the beginning of the period 21,248 42,796
Cash and cash equivalents at the end of the period 12,802 10,182
Supplemental Disclosure of Non-Cash Investing Activities:    
Net unrealized gain on marketable securities $ 253 $ 67