Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

16. Selected Quarterly Financial Data (Unaudited)

The following table contains quarterly financial information for 2014 and 2013. The Company believes that the following information reflects all normal recurring adjustments necessary for a fair statement of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.

	2014
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
	(in thousands, except per share data)
Collaboration revenue	$	568		$	761		$	539		$	375		$	2,243
Total operating expenses		7,757			8,806			11,141			7,470			35,174
Loss from operations		(7,189	)		(8,045	)		(10,602	)		(7,095	)		(32,931	)
Net loss		(7,222	)		(8,121	)		(10,674	)		(8,139	)		(34,156	)
Net loss applicable to common stockholders		(7,741	)		(8,121	)		(10,674	)		(8,139	)		(34,675	)
Net loss per share applicable to common stockholders—basic and diluted	$	(0.80	)	$	(0.51	)	$	(0.66	)	$	(0.49	)	$	(2.37	)

	2013
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
	(in thousands, except per share data)
Collaboration revenue	$	—		$	202		$	622		$	510		$	1,334
Total operating expenses		5,435			3,585			4,162			4,630			17,812
Loss from operations		(5,435	)		(3,383	)		(3,540	)		(4,120	)		(16,478	)
Net loss		(5,512	)		(3,634	)		(3,813	)		(5,066	)		(18,025	)
Net loss applicable to common stockholders		(6,405	)		(4,551	)		(4,718	)		(6,208	)		(21,882	)
Net loss per share applicable to common stockholders—basic and diluted	$	(5.14	)	$	(3.44	)	$	(3.39	)	$	(4.29	)	$	(16.18	)