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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended 45 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Operating activities:      
Net loss $ (58,638) $ (24,430) $ (197,889)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 279 189 978
Build-out allowance received from landlord     903
Stock option expense 12,330 2,620 21,324
Anti-dilutive warrant     25,808
Changes in operating assets and liabilities:      
Licensor receivable 8,053 (4,161) (1,760)
Prepaid expenses and other (5,096) (1,842) (12,811)
Accounts payable 8,105 7,142 18,797
Accrued expenses 556 (9,020) 9,135
Accrual of deferred rent (9) 47 204
Net cash used in operating activities (34,420) (29,455) (135,311)
Investing activities:      
Purchase of property and equipment (426) (354) (1,895)
Expenditures for leasehold improvements (110) (4) (1,024)
Restricted cash   (1) (1,214)
Purchase of available-for-sale securities (125,520) (46,692) (174,867)
Sale/maturity of available-for-sale securities 43,348   51,794
Net cash used in investing activities (82,708) (47,051) (127,206)
Financing activities:      
Proceeds from issuance of stockholder's convertible note payable     150
Net proceeds from issuance of common stock 129,440   315,395
Net proceeds from exercise of stock options     2,260
Capital contributions by stockholder     68
Net cash provided by financing activities 129,440   317,873
Net increase (decrease) in cash and cash equivalents 12,312 (76,506) 55,356
Cash and cash equivalents, beginning of period 43,044 137,408  
Cash and cash equivalents, end of period 55,356 60,902 55,356
Supplemental disclosures of non-cash investing and financing activities:      
Conversion of stockholder's note payable to common stock     $ 150