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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net (loss) income $ (29,537) $ 46 $ (35,670)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization 81 56 47
Accretion and amortization on investments, net 552 2,098 2,889
(Gain) loss on sales/retirement of property and equipment (16)   3
Loss on sales of marketable securities   1  
Stock-based compensation for services by non-employees 156 364 253
Stock-based compensation for employees and directors 8,245 8,397 7,658
Amortization related to 401(k) contributions 61 161 111
Unrealized gain on derivatives   (16) (351)
Changes in assets and liabilities:      
Interest and other receivables 731 (243) (399)
Prepaid assets 123 89 (72)
Deposits and other assets     5
Accounts payable 65 (873) (364)
Accrued compensation and benefits (183) (1,187) 486
Accrued collaboration charges 1,039 2,328  
Accrued liabilities 314 (417) (246)
Deferred revenue   (35,000) 35,000
Net cash (used in) provided by operating activities (18,369) (24,196) 9,350
Cash flows from investing activities:      
Restricted cash transfer (1) (1) 529
Purchases of property and equipment (57) (90) (131)
Proceeds from sales of property and equipment 16    
Purchases of marketable securities (129,250) (206,459) (190,263)
Proceeds from sales/calls of marketable securities   4,242 10,549
Proceeds from maturities of marketable securities 138,054 202,381 101,412
Net cash provided by (used in) investing activities 8,762 73 (77,904)
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs 1,169 2,575 98,360
Net cash provided by financing activities 1,169 2,575 98,360
Net (decrease) increase in cash and cash equivalents (8,438) (21,548) 29,806
Cash and cash equivalents, at beginning of year 21,248 42,796 12,990
Cash and cash equivalents, at end of year $ 12,810 $ 21,248 $ 42,796