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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2012
Summary of Significant Accounting Policies  
Schedule of fair value of the financial assets and liabilities

The following tables show the fair value of the Company's financial assets and liabilities that are required to be measured at fair value, in thousands:

 
   
  Fair Value Measurements at
December 31, 2011
 
 
  Total Carrying
Value at
December 31,
2011
  Quoted Prices
in Active
Markets
(Level 1)
  Significant
Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 

Assets:

                         

Cash and cash equivalents

  $ 48,544   $ 48,544   $   $  

Marketable securities-restricted

    245         245      
                   

Total assets at fair value

  $ 48,789   $ 48,544   $ 245   $  
                   

Liabilities:

                         

Warrant liability

  $ 697   $   $   $ 697  
                   


 

 
   
  Fair Value Measurements at
December 31, 2012
 
 
  Total Carrying
Value at
December 31,
2012
  Quoted Prices
in Active
Markets
(Level 1)
  Significant
Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 

Assets:

                         

Cash and cash equivalents

  $ 40,302   $ 31,561   $ 8,741   $  

Marketable securities

    48,206         48,206      

Marketable securities—restricted

    279         279      
                   

Total assets at fair value

  $ 88,787   $ 31,561   $ 57,226   $  
                   

Liabilities:

                         

Warrant liability

  $ 251   $   $   $ 251  
                   
Schedule of assumptions used to calculate fair value of stock warrant liability using Monte-Carlo simulation on a Black-Scholes model

 

Exercise Price

  $4 - $5 per share

Volatility

  80%

Stock Price as of December 31, 2012

  $7.17 per share

Term

  8.1 - 9.0 years

Dividend Yield

  0.0%

Risk-Free Rate

  1.6% - 1.8%
Schedule of the entity's common stock warrant liability

The following table presents information about the Company's common stock warrant liability as of December 31, 2010, 2011 and 2012, in thousands:

 
  Year Ended
December 31, 2011
and 2012
 

Balance at December 31, 2010

  $  

Issuance of Series A Preferred Stock warrants(1)

    612  

Changes in fair value of warrants included in earnings

    85  
       

Balance at December 31, 2011

    697  

Exercise of warrants (credited to paid in capital)

    (1,156 )

Changes in fair value of warrants included in earnings

    710  
       

Balance at December 31, 2012

  $ 251  
       

(1)
Upon consummation of the Company's Initial Public Offering, the warrants to purchase Series A Preferred Stock were converted to warrants to purchase common stock.
Schedule of average useful lives used to compute depreciation and amortization

 

Computer equipment

  3 years

Software

  3 years

Lab and office equipment

  5 - 10 years

Furniture

  7 years

Leasehold improvements

  Shorter of lease term or useful life
Schedule of common stock equivalents excluded in the calculation of diluted loss per share

 

 
  Year Ended December 31,  
 
  2010   2011   2012  

Series A Preferred Stock

    12,249,998     12,249,998     4,049,863  

Warrants to purchase Series A Preferred Stock/Common Stock

        143,749     21,090  

Stock options, Non-Vested Stock Options and ESPP Awards

    767,428     598,109     256,939