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CONDENSED STATEMENTS OF CASH FLOWS CHANGE IN CASH AND CASH EQUIVALENTS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net (loss) income $ (21,055) $ 8,514
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 63 39
Accretion and amortization on investments, net 507 1,670
Gain on sales of property and equipment (16)  
Stock-based compensation for services by non-employees 123 262
Stock-based compensation for employees and directors 6,263 6,453
Amortization related to 401(k) contributions 60 161
Unrealized gain on derivatives   (16)
Changes in assets and liabilities:    
Other current assets (4,397) (370)
Other current liabilities 685 (658)
Deferred revenue   (35,000)
Net cash used in operating activities (17,767) (18,945)
Cash flows from investing activities:    
Restricted cash transfer (1)  
Purchases of property and equipment (26) (49)
Proceeds from sales of property and equipment 16  
Purchases of marketable securities (105,698) (153,073)
Proceeds from maturities of marketable securities 106,954 144,329
Net cash provided by (used in) investing activities 1,245 (8,793)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 1,157 1,765
Net cash provided by financing activities 1,157 1,765
Net decrease in cash and cash equivalents (15,365) (25,973)
Cash and cash equivalents at the beginning of the period 21,248 42,796
Cash and cash equivalents at the end of the period 5,883 16,823
Supplemental Disclosure of Non-Cash Investing Activities:    
Net unrealized gain on marketable securities $ 238 $ 27