Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net loss	$ (168,464)	$ (170,701)	$ (18,542)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	12,175	3,458	3,251
Stock-based compensation	27,390	25,687	23,783
Other-than-temporary impairment loss on marketable securities	3,752	0	0
Amortization of premium on marketable securities	1,742	3,794	3,248
Interest added to the principal balance of the non-recourse notes due 2029	20,527	0	0
Change in fair value of capped-call derivative assets	0	1,422	0
Amortization of debt issuance costs	2,408	951	827
Other non-cash items	(2)	17	187
Changes in operating assets and liabilities:
Account receivable	74	702	0
Receivables from collaborative arrangements	(7,371)	(2,117)	(841)
Prepaid expenses and other current assets	(338)	36	(441)
Inventories	(1,908)	(3,100)	(4,822)
Other assets	1,549	(578)	0
Accounts payable	(7,695)	1,613	(1,480)
Payable to Theravance Biopharma, Inc., net	(15,916)	0	0
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities	(491)	5,850	(1,829)
Accrued interest payable	4,751	428	0
Deferred rent	275	(299)	(747)
Deferred revenue	(3,181)	3,235	(130,107)
Net cash used in operating activities	(130,723)	(129,602)	(127,513)
Cash flows from investing activities
Purchases of property and equipment	(689)	(2,734)	(2,590)
Purchases of marketable securities	(276,914)	(410,407)	(330,484)
Maturities of marketable securities	339,359	255,861	224,902
Sales of marketable securities	7,211	22,600	49,729
Payments for capitalized fees paid to a related party	(135,000)	(85,000)	0
Change in restricted cash	833	0	60
Issuances of notes receivable	0	0	(140)
Payments received on notes receivable	140	100	240
Net cash used in investing activities	(65,060)	(219,580)	(58,283)
Cash flows from financing activities
Cash and cash equivalents contributed to Theravance Biopharma, Inc.	(277,541)	0	0
Payments on note payable and capital leases	0	0	(69)
Proceeds from issuances of common stock, net	48,925	153,021	236,377
Payments of cash dividends to stockholders	(56,988)	0	0
Purchase of capped-call options	0	(36,800)	0
Proceeds from issuances of note payable, net of debt issuance costs	434,677	281,622	(441)
Net cash provided by financing activities	149,073	397,843	235,867
Net (decrease) increase in cash and cash equivalents	(46,710)	48,661	50,071
Cash and cash equivalents at beginning of period	143,510	94,849	44,778
Cash and cash equivalents at end of period	96,800	143,510	94,849
Supplemental disclosure of cash flow information
Cash paid for interest	9,208	7,970	5,177
Supplemental disclosure of noncash information
Contribution of net assets, excluding cash and cash equivalents, to Theravance Biopharma, Inc.	125,337	0	0
Conversion of convertible subordinated notes into common stock	$ 32,391	$ 172,499	$ 0