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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net (loss) income $ (27,916) $ (29,537) $ 46
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Depreciation and amortization 76 81 56
Loss (gain) on retirement/sales of property and equipment 5 (16)  
Accretion and amortization on investments, net 273 552 2,098
Loss on sales of marketable securities     1
Stock-based compensation for services by non-employees 200 156 364
Stock-based compensation for employees and directors 8,144 8,245 8,397
Amortization related to 401(k) contributions 32 61 161
Unrealized gain on derivatives     (16)
Changes in assets and liabilities:      
Interest and other receivables 39 731 (243)
Prepaid assets (56) 123 89
Accounts payable 278 65 (873)
Accrued compensation and benefits 542 (183) (1,187)
Accrued collaboration charges (1,665) 1,039 2,328
Accrued liabilities (508) 314 (417)
Deferred revenue     (35,000)
Net cash used in operating activities (20,556) (18,369) (24,196)
Cash flows from investing activities:      
Restricted cash transfer   (1) (1)
Purchases of property and equipment   (57) (90)
Proceeds from sales of property and equipment   16  
Purchases of marketable securities (100,006) (129,250) (206,459)
Proceeds from sales/calls of marketable securities     4,242
Proceeds from maturities of marketable securities 122,976 138,054 202,381
Net cash provided by investing activities 22,970 8,762 73
Cash flows from financing activities:      
Proceeds from issuances of common stock 1,111 1,169 2,575
Net cash provided by financing activities 1,111 1,169 2,575
Net increase (decrease) in cash and cash equivalents 3,525 (8,438) (21,548)
Cash and cash equivalents at the beginning of the period 12,810 21,248 42,796
Cash and cash equivalents at the end of the period $ 16,335 $ 12,810 $ 21,248