Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 24,062,000	$ 40,031,000
Available-for-sale investments	35,326,000	25,232,000
Prepaid expenses and other current assets	1,053,000	1,345,000
Total current assets	60,441,000	66,608,000
Property and equipment, net	208,000	224,000
Other non-current assets	693,000	706,000
Total assets	61,342,000	67,538,000
Current liabilities:
Accounts payable	431,000	1,020,000
Accrued expenses	2,838,000	2,576,000
Other current liabilities	319,000	537,000
Total current liabilities	3,588,000	4,133,000
Total liabilities	$ 3,588,000	$ 4,133,000
Commitments and contingencies (Note 5)
Preferred stock, $0.001 par value per share; 10,000,000 shares authorized, no shares issued and outstanding at March 31, 2016 and December 31, 2015	$ 0	$ 0
Common stock, $0.001 par value, 100,000,000 shares authorized at March 31, 2016 and December 31, 2015; 16,507,894 and 16,501,500 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	16,000	16,000
Additional paid-in capital	195,529,000	194,651,000
Retained Earnings (Accumulated Deficit)	(137,803,000)	(131,251,000)
Accumulated other comprehensive income (loss)	12,000	(11,000)
Total stockholders’ equity	57,754,000	63,405,000
Total liabilities and stockholders’ equity	$ 61,342,000	$ 67,538,000