CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities
Net loss	$ (131,267)	$ (73,789)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	6,190	2,036
Stock-based compensation	21,281	13,257
Amortization on premium of short-term investments	1,412	1,854
Change in fair value of capped-call derivative assets	0	1,422
Other non-cash items	(2)	(3)
Changes in operating assets and liabilities:
Account receivables	74	0
Receivables from collaborative arrangements	(294)	(1,169)
Prepaid expenses and other current assets	(177)	357
Inventories	(1,908)	(2,533)
Other assets	(411)	0
Accounts payable	(5,832)	1,026
Payable to Theravance Biopharma, Inc., net	(1,738)	0
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities	1,874	2,941
Accrued interest payable	8,213	2,540
Deferred rent	183	(376)
Deferred revenue	(2,640)	4,120
Net cash used in operating activities	(105,042)	(48,317)
Cash flows from investing activities
Purchases of property and equipment	(556)	(1,431)
Purchases of available-for-sale securities	(142,861)	(211,797)
Maturities of available-for-sale securities	241,173	106,983
Sales of available-for-sale securities	5,000	17,600
Increase in intangible assets	(100,000)	(30,000)
Payments received on notes receivable	140	100
Net cash provided by (used in) investing activities	2,896	(118,545)
Cash flows from financing activities
Cash and cash equivalents contributed to Theravance Biopharma, Inc.	(277,541)	0
Proceeds from issuances of common stock, net	23,786	26,433
Purchase of capped-call options	0	(36,800)
Change in restricted cash	(14,234)	0
Proceeds from issuances of notes payable, net of debt issuance costs	434,677	281,623
Net cash provided by financing activities	166,688	271,256
Net increase in cash and cash equivalents	64,542	104,394
Cash and cash equivalents at beginning of period	143,510	94,849
Cash and cash equivalents at end of period	208,052	199,243
Supplemental disclosures of noncash information
Contribution of net assets, excluding cash and cash equivalents to Theravance Biopharma, Inc.	125,337	0
Guarantee issued in connection with the Spin-Off (Note 9)	$ 1,300	$ 0