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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2015
Summary of Fair Value Measurement Financial Asset and Liabilities | Financial assets measured at fair value on a recurring basis were as follows (in thousands):
| Fair Value Measurements at December 31, 2015 |
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |
| Total |  | Level 1 |  | Level 2 |  | Level 3 |
Assets: |  |  |  |  |  |  |  |
Money market funds |  | $ | 62,353 |  |  | $ | 62,353 |  |  | $ | - |  |  | $ | - |
U.S Treasury securities |  |  | 9,348 |  |  |  | - |  |  |  | 9,348 |  |  |  | - |
Government-sponsored enterprises |  |  | 41,202 |  |  |  | - |  |  |  | 41,202 |  |  |  | - |
Corporate debt securities |  |  | 137,928 |  |  |  | - |  |  |  | 137,928 |  |  |  | - |
Total assets measured at fair value (a) |  | $ | 250,831 |  |  | $ | 62,353 |  |  | $ | 188,478 |  |  | $ | - |
| Fair Value Measurements at December 31, 2014 |
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |
| Total |  | Level 1 |  | Level 2 |  | Level 3 |
Assets: |  |  |  |  |  |  |  |
Money market funds |  |  | 26,046 |  |  |  | 26,046 |  |  |  | — |  |  |  | — |
Restricted cash |  |  | 300 |  |  |  | 300 |  |  |  | — |  |  |  | — |
Total assets measured at fair value |  | $ | 26,346 |  |  | $ | 26,346 |  |  | $ | — |  |  | $ | — |
(a) Total assets measured at fair value at December 31, 2015 includes approximately $108.0 million reported in cash and cash equivalents on the balance sheet.
Estimated Useful Lives | Property and equipment are stated at cost. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is credited or charged to operations. Repairs and maintenance costs are expensed as incurred. Depreciation is 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 | Basic and diluted loss per common share is computed as follows (in thousands except share and per share data):
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Numerator: |  |  |  |  |  |  |  |  |
Net loss used for calculation of basic and diluted EPS |  | $ | (20,140 | ) |  | $ | (38,313 | ) |  | $ | (261 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding, basic |  |  | 31,801,645 |  |  |  | 27,384,990 |  |  |  | 6,847,697 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock units |  |  | - |  |  |  | - |  |  |  | - |
Weighted average shares outstanding, diluted |  |  | 31,801,645 |  |  |  | 27,384,990 |  |  |  | 6,847,697 |
Net loss per share, basic and diluted |  | $ | (0.63 | ) |  | $ | (1.40 | ) |  | $ | (0.04 | )
Schedule of Antidilutive Securities Excluded from the Calculation of Diluted Income (Loss) Per Share | The following common stock equivalents were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Effect of converted preferred stock |  | — |  |  | — |  |  | 13,189,920
Stock options |  | 1,955,398 |  |  | 2,094,904 |  |  | 2,313,970
Summary of Significant Revenue [Member] |
Summary of Percentage of Customer Concentration | The following table includes those collaborators that represent more than 10% of total revenue earned in the periods indicated:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Janssen |  | 71.7% |  |  | * |  |  | *
Servier |  | * |  |  | 36.4% |  |  | 51.6%
Boehringer |  | 12.4% |  |  | 28.6% |  |  | 24.8%
Takeda |  | * |  |  | 16.8% |  |  | *
Gilead |  | * |  |  | 11.4% |  |  | 13.8%
Summary of Significant Accounts Receivable[Member] |
Summary of Percentage of Customer Concentration | The following table includes those collaborators that represent more than 10% of accounts receivable at the date indicated:
| December 31,
| 2015 |  | 2014
Janssen |  | 39.0% |  |  | *
U.S. government |  | 20.0 % |  |  | *
Servier |  | 14.0 % |  |  | 33.3%
Takeda |  | 14.0% |  |  | *
Eli Lilly |  | 13.0% |  |  | *
Boehringer |  | * |  |  | 21.2 %
Green Cross |  | * |  |  | 17.9 %
* Balance is less than 10%

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