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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2013
Summary of Fair Value Measurement Financial Asset and Liabilities | Financial assets and liabilities subject to fair value measurements as of December 31, 2011, December 31, 2012 and September 30, 2013, were as follows:
|  | Fair Value Measurements at December 31, 2011 |
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant Unobservable Inputs |
|  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 31,049,050 |  |  | $ | 31,049,050 |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 24,169,311 |  |  |  | — |  |  |  | 24,169,311 |  |  |  | — |
Restricted cash |  |  | 582,171 |  |  |  | 582,171 |  |  |  | — |  |  |  | — |
Total assets |  | $ | 55,800,532 |  |  | $ | 31,631,221 |  |  | $ | 24,169,311 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock warrant liability |  | $ | (203,642 | ) |  | $ | — |  |  | $ | — |  |  | $ | (203,642 | )
|  | Fair Value Measurements at December 31, 2012 |
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant Unobservable Inputs |
|  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 18,695,197 |  |  | $ | 18,695,197 |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 29,047,958 |  |  |  | 29,047,958 |  |  |  | — |  |  |  | — |
Restricted cash |  |  | 404,850 |  |  |  | 404,850 |  |  |  | — |  |  |  | — |
Total assets |  | $ | 48,148,005 |  |  | $ | 48,148,005 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock warrant liability |  | $ | (52,947 | ) |  | $ | — |  |  | $ | — |  |  | $ | (52,947 | )
|  | Fair Value Measurements at September 30, 2013 |
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant Unobservable Inputs |
|  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 7,522,029 |  |  | $ | 7,522,029 |  |  | $ | — |  |  | $ | — |
Money market funds |  |  | 26,047,169 |  |  |  | 26,047,169 |  |  |  | — |  |  |  | — |
Restricted cash |  |  | 404,850 |  |  |  | 404,850 |  |  |  | — |  |  |  | — |
Total assets |  | $ | 33,974,048 |  |  | $ | 33,974,048 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock warrant liability |  | $ | (679,296 | ) |  | $ | — |  |  | $ | — |  |  | $ | (679,296 | )
Summary of Preferred Stock Warrant Liability | The following table presents information about the Company’s preferred stock warrant liability, which was the only financial instrument measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as defined in ASC 820 as of December 31, 2011, December 31, 2012, and September 30, 2013:
|  | December 31, |  |  |  |
|  | 2011 |  |  | 2012 |  |  | September 30, 2013 |
|  |  |  |  |  |  |  | (unaudited) |
Balance beginning of period |  | $ | (1,663,077 | ) |  | $ | (203,642 | ) |  | $ | (52,947 | )
Total unrealized gains (losses) included in earnings |  |  | 1,459,435 |  |  |  | 150,695 |  |  |  | (626,349 | )
Balance end of period |  | $ | (203,642 | ) |  | $ | (52,947 | ) |  | $ | (679,296 | )
Estimated Useful Lives | Depreciation and amortization are computed using the straight-line method over the following estimated useful lives:
Computer equipment |  | 3 years
Software |  | 3 years
Furniture |  | 10 years
Laboratory and office equipment |  | 5 years
Leasehold improvements |  | Shorter of lease term or useful life
Computation of Basic and Diluted Income (Loss) Per Common Share | The treasury stock method is used to determine the dilutive effect of the Company’s stock option grants and the if-converted method is used to determine the dilutive effect of the Company’s Series A-1, A-2, B, C, D, and D-2 convertible preferred stock.
|  | Year Ended December 31, |  |  | Nine Months Ended September 30, |
|  | 2011 |  |  | 2012 |  |  | 2012 |  |  | 2013 |
|  |  |  |  |  |  |  | (Unaudited) |
Basic income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 6,717,120 |  |  | $ | 8,361,755 |  |  | $ | 10,466,582 |  |  | $ | 2,944,149 |
Less: Undistributed earnings allocated to participating securities |  |  | (6,717,120 | ) |  |  | (8,361,755 | ) |  |  | (10,466,582 | ) |  |  | (2,944,149 | )
Net income (loss) allocable to common shares |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Basic weighted average common shares outstanding |  |  | 1,025,602 |  |  |  | 1,083,286 |  |  |  | 1,078,145 |  |  |  | 1,463,798 |
Basic earnings per common share |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Diluted income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 6,717,120 |  |  | $ | 8,361,755 |  |  | $ | 10,466,582 |  |  | $ | 2,944,149 |
Less: Undistributed earnings allocated to participating securities |  |  | (6,717,120 | ) |  |  | (8,361,755 | ) |  |  | (10,466,582 | ) |  |  | (2,944,149 | )
Net income (loss) allocable to common shares |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Basic weighted average common shares outstanding |  |  | 1,025,602 |  |  |  | 1,083,286 |  |  |  | 1,078,145 |  |  |  | 1,463,798 |
Effect of dilutive securities |  |  | — |  |  |  | — |  |  |  | 20,334,703 |  |  |  | 20,445,061 |
Diluted weighted average common shares outstanding |  |  | 1,025,602 |  |  |  | 1,083,286 |  |  |  | 21,412,848 |  |  |  | 21,908,859 |
Diluted income per common share |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Common Stock Equivalents Excluded In Calculation of Diluted Net Income (Loss) Per Share | The following common stock equivalents were excluded in the calculation of diluted net income (loss) per share because their effect would be anti-dilutive:
|  | Year Ended December 31, |
|  | 2011 |  |  | 2012 |
Series A-1 Preferred Stock |  |  | 2,156,114 |  |  |  | 2,156,114 |
Series A-2 Preferred Stock |  |  | 392,274 |  |  |  | 392,274 |
Series B Preferred Stock |  |  | 4,336,037 |  |  |  | 4,336,037 |
Series C Preferred Stock |  |  | 5,909,906 |  |  |  | 5,909,906 |
Series D Preferred Stock |  |  | 769,468 |  |  |  | 769,468 |
Series D-2 Preferred Stock |  |  | 3,391,991 |  |  |  | 3,391,991 |
Warrants to Purchase Series D-2 Preferred Stock |  |  | 180,784 |  |  |  | 180,784 |
Stock options |  |  | 2,885,417 |  |  |  | 3,249,702 |
Schedule of Dilutive Securities Used In Calculation of Diluted Earnings Per Share | The following common stock equivalents were included in the calculation of diluted net income (loss) per share:
|  | Nine Months Ended September 30, |
|  | 2012 |  |  | 2013 |
|  | (unaudited) |
Series A-1 Preferred Stock |  |  | 2,156,114 |  |  |  | 2,156,114 |
Series A-2 Preferred Stock |  |  | 392,274 |  |  |  | 392,274 |
Series B Preferred Stock |  |  | 4,336,037 |  |  |  | 4,336,037 |
Series C Preferred Stock |  |  | 5,909,906 |  |  |  | 5,909,906 |
Series D Preferred Stock |  |  | 769,468 |  |  |  | 769,468 |
Series D-2 Preferred Stock |  |  | 3,391,991 |  |  |  | 3,391,991 |
Warrants to Purchase Series D-2 Preferred Stock |  |  | 180,784 |  |  |  | 180,784 |
Stock options |  |  | 3,276,516 |  |  |  | 2,910,952 |
Pro forma net income (loss) per common share | The Company believes the unaudited pro forma net income (loss) per share provides material information to investors, as the conversion of the Company’s Series A-1, A-2, B, C, D, and D-2 convertible preferred stock and net exercise of the Series D-2 preferred stock warrants to common stock occurred upon the closing of the IPO, and the disclosure of pro forma net income (loss) per share thus provides an indication of net income (loss) per share that is comparable to what will be reported by the Company as a public company.
|  | Year Ended December 31, 2012 |  |  | Nine Months Ended September 30, 2013 |
|  | (unaudited) |
Pro forma net income (loss) per common share |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net income (loss) used to compute pro forma net income (loss) per common share: |  |  |  |  |  |  |  |
Basic |  | $ | 8,361,755 |  |  | $ | 2,944,145 |
Diluted |  | $ | 8,512,450 |  |  | $ | 2,944,145 |
Denominator: |  |  |  |  |  |  |  |
Weighted-average number of common shares, used to calculate net income (loss) per common share: |  |  |  |  |  |  |  |
Basic |  |  | 1,083,286 |  |  |  | 1,463,798 |
Diluted |  |  | 4,517,833 |  |  |  | 3,373,001 |
Add: Pro forma adjustments to reflect assumed weighted-average effect of conversion of convertible preferred stock |  |  | 16,955,740 |  |  |  | 16,955,740 |
Weighted-average number of common shares used in calculating pro forma net income (loss) per common share: |  |  |  |  |  |  |  |
Basic |  |  | 18,039,142 |  |  |  | 18,419,588 |
Diluted |  |  | 21,473,689 |  |  |  | 20,328,791 |
Pro forma net income (loss) per common share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.38 |  |  | $ | 0.16 |
Diluted |  | $ | 0.38 |  |  | $ | 0.14 |
Summary of Significant Revenue [Member] |
Summary of Percentage of Customer Concentration | The following table represents the percentage of all significant revenue earned in the periods indicated:
|  | Year Ended December 31, |  |  | Nine Months ended September 30, |
|  | 2011 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
|  |  |  |  |  |  |  | (unaudited) |
Servier |  |  | — | % |  |  | 17.3 | % |  |  | 58.8 | % |  |  | 12.6 | %
Boehringer |  |  | 15.6 |  |  |  | 18.4 |  |  |  | 15.9 |  |  |  | 17.2 |
Gilead |  |  | — |  |  |  | — |  |  |  | 13.7 |  |  |  | 0.0 |
Pfizer |  |  | 10.8 |  |  |  | 8.7 |  |  |  | 7.3 |  |  |  | 7.4 |
Eli Lilly |  |  | 54.0 |  |  |  | 48.9 |  |  |  | 1.6 |  |  |  | 55.7 |
Government Agencies |  |  | 17.7 |  |  |  | 6.5 |  |  |  | 2.6 |  |  |  | 6.9 |
Summary of Significant Accounts Receivable[Member] |
Summary of Percentage of Customer Concentration | The following table represents the percentage of all significant accounts receivable balances as of December 31, 2011, December 31, 2012 and September 30, 2013:
|  | Year Ended December 31, |  |  | Nine Months ended September 30, 2013 |
|  | 2011 |  |  | 2012 |  |
|  |  |  |  |  |  |  | (unaudited) |
Gilead. |  |  | — | % |  |  | — | % |  |  | 51.2 | %
Pfizer |  |  | 28.0 |  |  |  | 45.4 |  |  |  | 22.6 |
Boehringer |  |  | 40.1 |  |  |  | 18.0 |  |  |  | 11.1 |
Eli Lilly |  |  | 10.6 |  |  |  | 28.2 |  |  |  | 11.0 |
Government Agencies |  |  | 21.3 |  |  |  | 8.4 |  |  |  | 4.0 |

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