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Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2013	May 01, 2013
Entity Registrant Name	INTERCEPT PHARMACEUTICALS INC
Entity Central Index Key	0001270073
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	icpt
Entity Common Stock, Shares Outstanding		16,805,191
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2013
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2013

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents	$ 31,711,264	$ 45,511,641
Investment securities, available-for-sale	72,508,832	64,682,270
Prepaid expenses and other current assets	1,572,450	1,584,308
Total current assets	105,792,546	111,778,219
Fixed assets, net	134,852	148,838
Security deposits	268,707	251,540
Total assets	106,196,105	112,178,597
Liabilities and Stockholders' Equity
Accounts payable, accrued expenses and other liabilities	3,225,749	3,745,773
Short-term portion of warrant liability	4,786,036	7,596,659
Short-term portion of deferred revenue	1,621,622	1,621,622
Total current liabilities	9,633,407	12,964,054
Long-term liabilities:
Long-term portion of warrant liability	25,627,190	22,762,135
Long-term portion of deferred revenue	10,135,138	10,540,543
Total liabilities	45,395,735	46,266,732
Stockholders' equity:
Common stock. 25,000,000 shares authorized; 16,526,885, and 16,633,964 shares issued and outstanding as of December 31, 2012 and March 31, 2013, respectively; par value $0.001 per share	16,633	16,527
Additional paid-in capital	189,422,716	184,100,139
Accumulated other comprehensive loss, net	(245,481)	(21,451)
Accumulated deficit during development stage	(128,393,498)	(118,183,350)
Total stockholders' equity	60,800,370	65,911,865
Total liabilities and stockholders' equity	$ 106,196,105	$ 112,178,597

Condensed Consolidated Balance Sheets [Parenthetical] - $ / shares	Mar. 31, 2013	Dec. 31, 2012
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	25,000,000	25,000,000
Common stock, issued	16,633,964	16,526,885
Common stock, outstanding	16,633,964	16,526,885

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		127 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013
Licensing revenue	$ 405,405	$ 758,754	$ 4,656,640
Costs and expenses:
Research and development	4,832,556	3,059,585	76,267,247
General and administrative	2,396,854	1,059,202	31,994,936
Total costs and expenses	7,229,410	4,118,787	108,262,183
Other income (expense):
Revaluation of warrants	(3,682,505)	677,907	(26,758,081)
Foreign currency loss on liquidation	0	0	(191,733)
Other income, net	296,362	2,434	1,672,900
QTDP Grant	0	0	488,959
Total Other Nonoperating Income	(3,386,143)	680,341	(24,787,955)
Net loss	(10,210,148)	(2,679,692)	(128,393,498)
Dividends on preferred stock, not declared	0	(750,000)	(10,944,134)
Net loss attributable to common stockholders	$ (10,210,148)	$ (3,429,692)	(139,337,632)
Net loss per share, basic and diluted (in dollars per share)	$ (0.62)	$ (1.03)
Weighted average shares outstanding, basic and diluted (in shares)	16,558,297	3,329,666
Other comprehensive gain/(loss):
Unrealized (loss) on investment securities	$ (245,481)	$ 0	(266,932)
Foreign currency translation adjustments	0	12,577	0
Total comprehensive loss	$ (10,455,629)	$ (2,667,115)	$ (128,660,430)

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		127 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013
Cash flows from operating activities:
Net loss	$ (10,210,148)	$ (2,679,692)	$ (128,393,498)
Adjustments to reconcile net loss to net cash used in operating activities:
Revaluation of warrants	3,682,505	(677,907)	26,758,081
Stock-based compensation	1,607,181	391,856	11,385,051
Impairment of bonds	0	0	151,402
Loss from sale of assets	0	0	217,296
Depreciation	22,650	74,353	2,389,318
Foreign currency loss on liquidation	0	0	191,733
Amortization of investment premium	0	0	118,180
Changes in:
Prepaid expenses and other current assets	187,568	(231,781)	(1,172,052)
Accounts payable, accrued expenses, and other current liabilities	(520,024)	(11,308)	3,225,754
Deferred revenue	(405,405)	(758,754)	11,756,760
Interest accrued on promissory notes	0	0	91,249
Net cash used in operating activities	(5,635,673)	(3,893,233)	(73,280,726)
Cash flows from investing activities:
Investments in certificates of deposit	0	(4,001)	(627,631)
Purchases of investment securities	(10,243,468)	0	(76,184,444)
Sales of investment securities	2,000,000	0	3,119,075
Purchases of equipment, improvements, and furniture and fixtures	(8,664)	(19,814)	(1,405,902)
Net cash used in investing activities	(8,252,132)	(23,815)	(75,098,902)
Cash flows from financing activities:
Proceeds from issuance of stock offerings, net of issuance costs	0	0	172,477,162
Proceeds from issuance of common stock warrants	0	0	7,385,897
Payments of capital lease obligation	0	(58,525)	(1,335,567)
Proceeds from exercise of options	87,428	0	130,133
Proceeds from exercise of warrants	0	0	375,000
Proceeds from issuance of convertible promissory notes payable	0	0	1,250,000
Net cash provided by (used in) financing activities	87,428	(58,525)	180,282,625
Effect of exchange rate changes	0	12,577	(191,733)
Net increase (decrease) in cash and cash equivalents	(13,800,377)	(3,962,996)	31,711,264
Cash and cash equivalents - beginning of period	45,511,641	17,707,476	0
Cash and cash equivalents - end of period	31,711,264	13,744,480	31,711,264
Supplemental disclosure of cash flow information:
Cash paid during the year for interest	0	7,474	181,980
Supplemental disclosures of noncash activities:
Conversion of promissory note payable, including accrued interest of $91,250 into common shares	0	0	1,341,249
Issuance of 108,169 warrants for private placement agent fees	0	0	1,471,485
Acquisition of equipment pursuant to capital leases	0	0	1,335,567
Issuance of common stock for cashless warrant exchange	$ 3,628,077	$ 0	$ 4,646,292

Condensed Consolidated Statements of Cash Flows [Parenthetical]	127 Months Ended
	Mar. 31, 2013 USD ($) shares
Accrued interest on conversion of promissory note payable \| $	$ 91,250
Issuance of warrants for private placement agent fees \| shares	108,169

- Definition

Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

Nature of Business and Basis of Presentation

3 Months Ended

Mar. 31, 2013

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

Business Description and Basis of Presentation [Text Block]

Nature of Business and Basis of Presentation

Intercept Pharmaceuticals, Inc. (Intercept or the Company), a development stage company, is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat chronic liver diseases utilizing its proprietary bile acid chemistry. The Company’s product candidates have the potential to treat orphan and more prevalent liver diseases for which there currently are limited therapeutic solutions.

The Company has its administrative headquarters in New York, New York and an office in San Diego, California. Prior to April 2011, the Company operated a wholly-owned subsidiary in Italy where its bile acid receptor research was primarily conducted. In April 2011, the Company began the process of liquidating this subsidiary and has since disposed of all assets. However, the Company is continuing its early stage TGR5 research through its collaboration with Les Laboratories Servier and Institut de Recherches Servier, or collectively Servier. Effective March 15, 2013, the Company decided to remove the Italian subsidiary from the legal liquidation process to act as the Company’s legal representative for its clinical trials in the European Union to satisfy European Union regulatory requirements. Intercept was incorporated in Delaware in September 2002.

On September 13, 2012, the board of directors of the Company approved, and on September 25, 2012 the stockholders of the Company approved, a one-for-5.7778 reverse stock split of the Company’s outstanding common stock, which was effected on September 26, 2012. Stockholders entitled to fractional shares as a result of the reverse stock split received a cash payment in lieu of receiving fractional shares. Shares of common stock underlying outstanding stock options and other equity instruments were proportionately reduced and the respective exercise prices, if applicable, were proportionately increased in accordance with the terms of the agreements governing such securities. Shares of common stock reserved for issuance upon the conversion of the Company’s series A preferred stock, series B preferred stock, and series C preferred stock were proportionately reduced and the respective conversion prices were proportionately increased. All share and per share amounts in the financial statements have been retroactively adjusted for all periods presented to give effect to the reverse stock split, including reclassifying an amount equal to the reduction in par value to additional paid-in capital.

The Company’s condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

The accompanying condensed interim financial statements are unaudited. The condensed interim unaudited financial statements have been prepared in accordance with GAAP on the same basis as the annual audited financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the Company’s financial position, results of operations and cash flows for the dates and periods presented herein. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes set forth in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 1, 2013. The results for the three months ended March 31 , 2012 and March 31, 2013 (unaudited), and for the period from inception (September 4, 2002) through March 31, 2013 (unaudited) are not necessarily indicative of results to be expected for the year ending December 31, 2013, any other interim periods or any future year or period.

Significant Agreements

3 Months Ended

Mar. 31, 2013

Significant Agreements Disclosure [Abstract]

Significant Agreements Disclosure [Text Block]

2.	Significant Agreements

Dainippon Sumitomo Pharma Co, Ltd. (DSP)

In March 2011, the Company entered into an exclusive license agreement with DSP to research, develop and commercialize obeticholic acid (OCA) as a therapeutic for the treatment of primary biliary cirrhosis (PBC) and nonalcoholic steatohepatitis (NASH) in Japan and China (excluding Taiwan). Under the terms of the license agreement, the Company received an up-front payment from DSP of $15.0 million and may be eligible to receive additional milestone payments up to an aggregate of approximately $30.0 million in development milestones based on the initiation or completion of clinical trials, $70.0 million in regulatory approval milestones and $200.0 million in sales milestones. The regulatory approval milestones include $15.0 million for receiving marketing approval for OCA for NASH in Japan, $10.0 million for receiving marketing approval for OCA for NASH in China, and up to $5.0 million for receiving marketing approval for OCA for PBC in the United States. The sales milestones are based on aggregate sales amounts of OCA and include $5.0 million for achieving net sales of $50.0 million, $10.0 million for achieving net sales of $100.0 million, $20.0 million for achieving net sales of $200.0 million, $40.0 million for achieving net sales of $400.0 million and $120.0 million for achieving net sales of $1.2 billion. DSP is also required to make royalty payments ranging from the tens to the twenties in percent based on net sales of OCA products in the DSP territory. DSP has the option to add several other Asian countries to its territory, including Korea and Taiwan, and to pursue OCA for additional indications. DSP will be responsible for the costs of developing and commercializing OCA in its territory.

The Company evaluated the license agreement with DSP and determined that it is a revenue arrangement with multiple deliverables, or performance obligations. The Company’s substantive performance obligations under this license include an exclusive license to its technology, technical and scientific support to the development plan and participation on a joint steering committee. The Company determined that these performance obligations represent a single unit of accounting, since, initially, the license does not have stand-alone value to DSP without the Company’s technical expertise and steering committee participation during the development of OCA. This development period is currently estimated as continuing through June 2020 and, as such, the up-front payment is being recognized ratably over this period. During the three months ended March 31, 2012 and 2013, the Company recorded revenue of $405,000 (unaudited) and $405,000 (unaudited), respectively, in “Licensing Revenue” in its Consolidated Statement of Operations for the Company’s efforts under the agreement. The Company has not achieved any of the milestones relating to the agreement as of March 31, 2013 and has not recognized any revenue related to such milestones. The Company has determined that each potential future development, regulatory and sales milestone is substantive.

Les Laboratories Servier and Institut de Recherches Servier

In August 2011, the Company entered into a research collaboration agreement with Servier under which the Company granted Servier the exclusive license to research, develop and commercialize TGR5 agonists (other than the Company’s preclinical product candidates INT-767 and INT-777) for use in the treatment of diabetes, obesity, atherosclerosis and reperfusion injury in all countries other than the United States and Japan. The agreement expires when no payment obligations are or will become due and may be terminated earlier by the parties in certain circumstances.

Under the terms of the agreement, the Company received an up-front payment from Servier of $1.4 million. The Company is also eligible to receive up to an aggregate of approximately €8.5 million in development milestones based on the initiation of clinical trials by Servier or the selection by Servier of product candidates for development, including a payment of €4.0 million upon the determination by Servier to initiate a Phase 3 clinical trial for the first product candidate under the agreement. The Company may also receive up to an aggregate of approximately €10.0 million in regulatory submission and approval milestones, including a payment of €5.0 million upon the first product candidate under the agreement achieving regulatory approval in the EU for its initial indication. The agreement also contemplates up to an aggregate of approximately €90.0 million in sales milestones, including a payment of €10.0 million upon the first product candidate under the agreement achieving its first commercial sale, €10.0 million upon achieving net sales of €200.0 million for a product, €20.0 million upon achieving net sales of €400.0 million for a product, €25.0 million for achieving net sales of €500.0 million for a product and €25.0 million for achieving net sales of €600.0 million for a product. Servier is also obligated to pay the Company royalties based on net sales of products developed under the agreement on a country-by-country basis. Servier is also obligated to pay the Company royalties based on net sales of products developed under the agreement on a country-by-country basis.

Intercept and Servier will jointly support the discovery effort, while Servier alone will be responsible for all costs associated with the global development, regulatory approval and commercialization of any compound selected as a lead candidate by the parties. The Company agreed to reimburse Servier up to a mid-double digit percentage of the total historical development costs incurred by Servier in relation to clinical development activities aimed at achieving regulatory approval in the European Union and the United States if the Company enters into a partnership agreement, or commences development or commercialization activities, with respect to any such compound in the United States. Servier may credit a portion of any reimbursable development costs against any milestone or royalty payments due and payable to the Company by Servier under the research collaboration agreement until all such reimbursable amounts are repaid. During the three months ended March 31, 2012 and 2013, the Company did not reimburse any development costs to Servier nor is it expected that any such costs will be reimbursed during 2013, as no such reimbursable developments costs are planned during the period.

The Company evaluated the research collaboration agreement with Servier and determined that it is a revenue arrangement with multiple deliverables, or performance obligations. The Company’s substantive performance obligations under this research collaboration include an exclusive license to its technology, technical, scientific and intellectual property support to the research plan during the first year of the agreement and participation on an executive committee and a research and development committee. The Company determined that these performance obligations represent a single unit of accounting, since the license does not have stand-alone value to Servier without the Company’s technical expertise and committee participation during the initial 12-month period. The research portion of the collaboration may be extended by mutual agreement by the parties for one or more additional years. In July 2012, the term of the research program was extended until January 31, 2013, on the same financial terms as the existing research program, including the reimbursement by Servier of the full time equivalent costs incurred by the Company in the conduct of the research program, up to a set maximum amount. In February 2013, the research program was further extended until July 31, 2013 on the same financial terms as the existing agreement. The up-front payment was recognized ratably over the estimated 12-month performance period as the research and development and executive committee services were provided. During the three months ended March 31, 2012, the Company recorded revenue of $354,000 related to the Company’s efforts under the Servier arrangement, which was recorded in “Licensing Revenue” in the Company’s Consolidated Statement of Operations. As the up-front payment was fully recognized as of September 30, 2012, no revenue was recorded during the three month period ended March 31, 2013 and no further revenue will be recognized for the up-front payment. The Company determined that each potential future development, regulatory and sales milestone is substantive.

The Company receives reimbursement from Servier for research services outlined in the agreements in which the Company engaged Professor Pellicciari and TES Pharma SRL (TES) as described below. The Company recognizes this expense reimbursement as a reduction of research and development expenses as the Company is acting as an agent regarding these research activities. All amounts incurred by the Company for research under the Servier agreement during the three months ended March 31, 2013, including the amounts incurred under the related agreements with Professor Pellicciari and TES, were covered under the Servier agreement. At December 31, 2012 and March 31, 2013, the Company recorded $496,000 and $481,000, respectively in prepaid expenses and other assets for amounts due from Servier for such expense reimbursement.

Sponsored Research Agreement (SRA) with the University of Perugia and Professor Pellicciari

The Company is engaged in a sponsored research agreement with the University of Perugia and Professor Roberto Pellicciari, a founder of the Company, to design, synthesize, optimize, scale-up, and develop pharmacologically active ligands for bile acid receptors. Under the SRA, the Company is assigned ownership of any patent and intellectual property rights arising from the research project. The Company paid the University of Perugia €100,000 quarterly commencing July 1, 2006 through 2010 and €100,000 for the fiscal year 2011. In 2012, the Company amended and restated the SRA to extend the term to the end of 2012 and paid the University of Perugia €80,000 during fiscal 2012. The Company recognized expense for the three months ended March 31, 2012 and 2013 of $33,000 and $26,000, respectively. In April 2013, by mutual agreement of the parties, the term of this agreement was extended, effective as of January 1, 2013, until December 31, 2013 on the same financial terms as were previously in effect.

Consulting Agreements with Professor Pellicciari

The Company entered into an amended and restated consulting and intellectual property agreement with Professor Pellicciari on November 1, 2008, which was amended on October 27, 2010. Pursuant to this agreement, as amended, the Company was required to pay Professor Pellicciari €8,000 per month through December 31, 2010 for consulting services. The agreement also required the Company to make a lump sum payment of €172,500 and monthly payments of €12,000 through December 31, 2010 for the assignment of certain intellectual property rights. The Company entered into amended and restated consulting and intellectual property agreements with Professor Pellicciari on January 1, 2011 and January 1, 2012, pursuant to which the Company agreed to pay Professor Pellicciari an aggregate of €100,000 per year for services provided through December 31, 2012 for consulting services and intellectual property rights in relation to OCA, INT-767 and INT-777 product candidates. In April 2013, by mutual agreement of the parties, the term of this agreement was extended, effective as of January 1, 2013, until December 31, 2013 on the same financial terms as were previously in effect.

On August 1, 2011, the Company signed a separate agreement with Professor Pellicciari for consulting services and intellectual property rights related to his services on the TGR5 program and the Servier license, pursuant to which the Company agreed to pay him an aggregate of €150,000 for his services through July 31, 2012. This agreement also provided that Professor Pellicciari will be eligible for a performance bonus of €50,000 based on the results of the research collaboration. The performance bonus is a discretionary bonus based upon the Company’s assessment of the success of the initial work performed under the collaboration, as extended. No such bonus was agreed upon by the parties as of December 31, 2012. In July 2012 and February 2013, by mutual agreement of the parties, the term of this agreement was extended until January 31, 2013 and July 31, 2013, respectively, in conjunction with the extension of the term of the research program with Servier, on the same financial terms as the original consulting agreement with Professor Pellicciari.

The Company recognized expense related to these agreements for the three months ended March 31, 2012 and 2013 of $85,000, and $82,000, respectively.

TES Pharma SRL (TES)

In August 2011, the Company contracted with TES to provide research and development services for the Company’s TGR5 program through July 31, 2012 to enable the Company to uphold its obligations for providing such services under the Servier agreement described above. Professor Pellicciari is an owner of TES. The Company is required under the agreement to pay TES an aggregate amount of €250,000 each quarter during the term of the agreement. The agreement provides that any funds paid to TES that have not been expended or irrevocably committed at the expiration of the agreement will be refunded to the Company.

The agreement has a term of one year unless the Company, in its sole discretion, extends the term of this agreement for one additional year on the same terms and conditions as the current agreement. In July 2012 and February 2013, by mutual agreement of the parties, the term of this agreement was extended until January 31, 2013 and July 31, 2013, respectively, in conjunction with the extension of the term of the research program with Servier, on the same financial terms as the original agreement with TES.

The Company incurred charges related to this agreement for the three months ended March 31, 2012 and 2013 of $337,000 and $333,000, respectively.

National Institute of Diabetes and Digestive and Kidney Disease Institute (NIDDK)

In 2010, the Company contracted with the NIDDK of the National Institute of Health to research the effects of OCA for the treatment of patients with NASH in a Phase 2b clinical trial called the FLINT trial. Under the contract with the NIDDK, the Company made a milestone payment of $1.0 million in June 2012 following notification in June 2012 that the FLINT trial will continue based upon the results of a blinded interim analysis and a payment of $1.25 million following the completion of enrollment in the trial in November 2012. The Company does not have any additional contractual payments remaining.

WIL Research Laboratories, LLC (WIL)

On October 2, 2007, the Company entered into a master laboratory services agreement with WIL Research Laboratories, LLC to perform certain research and laboratory services. The agreement was amended in October 2011. The agreement has a term ending on October 2, 2013, and automatically extends for successive one year periods, unless either party gives written notice to the other party at least 60 days prior to the end of the current term. Either the Company or WIL may terminate the agreement upon 90 days written notice. However, if a work order pertaining to the ongoing studies is outstanding, WIL may not terminate the agreement with 90 days written notice until the work order has been completed or otherwise terminated.

On November 16, 2011, the Company finalized two work orders with WIL for FDA-required studies in mice and rats to investigate the presence or absence of carcinogenic potential of OCA. The Company agreed to pay an aggregate of $4.0 million for the studies, consisting of a combination of quarterly installment payments of approximately $300,000 and milestone payments totaling approximately $400,000 upon delivery of final result reports. If additional costs are incurred beyond the amounts specified in the work orders, the Company agreed to pay such reasonable additional costs upon receipt of proper invoice. The Company anticipates that all the studies will continue through completion, all milestones will be satisfied and that it will pay to WIL $4.0 million under this agreement. The Company recognized expense related to these contracts and other work orders for the three months ended March 31, 2012 and 2013 of $446,500 and $315,000, respectively.

Investments

3 Months Ended

Mar. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3.	Investments

The following table summarizes the Company’s cash, cash equivalents and investments as of December 31, 2012 and March 31, 2013:

	As of December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Cash and cash equivalents:
Cash and money market funds	$	45,512	$	—	$	—		$	45,512
Investment Securities:
Commercial paper		12,971		10		(15	)		12,966
Corporate debt securities		41,866		7		(23	)		41,850
U.S. government and agency securities		9,861		4		—			9,865
Total investments		64,698		21		(38	)		64,681
Total cash, cash equivalents and investments	$	110,210	$	21	$	(38	)	$	110,193

	As of March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Cash and cash equivalents:
Cash and money market funds	$	31,711	$	—	$	—		$	31,711
Investment Securities:
Commercial paper		14,980		1		(6	)		14,975
Corporate debt securities		45,651		10		(15	)		45,646
U.S. government and agency securities		11,804		6		—			11,810
Certificate of deposit		78		—		—			78
Total investments		72,513		17		(21	)		72,509
Total cash, cash equivalents and investments	$	104,224		17		(21	)		104,220

The following table shows the gross unrealized losses and fair value of the Company’s available-for-sale investments aggregated by investment category and length of time that individual securities have been in the position:

	As of December 31, 2012
	Less than 12 months
	Fair Value		Gross Unrealized Holding Losses
	(In thousands)
Commercial paper	$	10,461	$	(15	)
Corporate debt securities		29,834		(23	)
Total available-for-sale securities	$	40,295	$	(38	)

	As of March 31, 2013
	Less than 12 months
	Fair Value		Gross Unrealized Holding Losses
	(In thousands)
Commercial paper	$	11,978	$	(6	)
Corporate debt securities		31,285		(15	)
Total available-for-sale securities	$	43,263	$	(21	)

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-Glossary Debt Security
-URI http://asc.fasb.org/extlink&oid=6509901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-Glossary Equity Security
-URI http://asc.fasb.org/extlink&oid=6511694

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 3, 19, 20, 21, 22, 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Prepaid Expenses and Other Current Assets

3 Months Ended

Mar. 31, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets Disclosure [Text Block]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	December 31,		March 31,
	2012		2013
	(In thousands)
Prepaid expenses	$	970	$	1,063
Contract receivable		496		481
Certificates of deposit		77		—
Refundable tax credits		42		28
Prepaid expenses and other current assets	$	1,585	$	1,572

Fixed Assets, Net

3 Months Ended

Mar. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

5.	Fixed Assets, Net

Fixed assets, net consisted of the following:

	December 31,			March 31,
	2012			2013
	(In thousands)
Office equipment	$	357		$	362
Leasehold improvements		178			178
Furniture and fixtures under capitalized lease		157			157
Furniture and fixtures		121			125
Subtotal fixed assets		813			822
Less: accumulated depreciation and amortization		(664	)		(687	)
Fixed assets, net	$	149		$	135

Depreciation and amortization expense for the three months ended March 31, 2012 and 2013 was $74,000 and $23,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Accounts Payable, Accrued Expenses and Other Liabilities

3 Months Ended

Mar. 31, 2013

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

6.	Accounts Payable, Accrued Expenses and Other Liabilities

Accounts payable, accrued expenses and other liabilities consisted of the following:

	December 31,		March 31,
	2012		2013
	(In thousands)
Accounts payable	$	1,180	$	1,341
Accrued employee compensation		1,335		516
Accrued contracted services and other		1,231		1,369
Accounts payable, accrued expenses and other liabilities	$	3,746	$	3,226

Income Taxes

3 Months Ended

Mar. 31, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

7.	Income Taxes

The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is established against net deferred tax assets if, based on the weight of available evidence, it is more likely than not that some or all of the net deferred tax assets will not be realized.

Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be resolved. The effect of a change in tax rates or laws on deferred tax assets and deferred tax liabilities is recognized in operations in the period that includes the enactment date of the rate change.

The deferred tax asset or liability represents future tax return consequences of those differences, which will be taxable when the assets and liabilities are recovered or settled. The provision for income taxes may differ from the actual expense that would result from applying the federal statutory rate to income before taxes because certain expenses for financial reporting purposes are not deductible for tax purposes. At December 31, 2012 and March 31, 2013, the Company had available net operating loss carryforwards to reduce future taxable income of approximately $70.2 million and $75.5 million, respectively, for tax reporting purposes. These carryforwards expire between 2024 and 2032. The ability of the Company to utilize its net operating losses in future years is subject to limitation in accordance with provisions of Section 382 of the Internal Revenue Code due to previous ownership changes; however, these changes have not resulted in material limitations to the Company’s ability to utilize the net operating losses. The Company’s combined federal, state and city deferred tax asset of approximately $42.1 million and $45.1 million at December 31, 2012 and March 31, 2013, respectively, resulted from the tax effects of net operating losses and differences between the book and tax bases for the share-based compensation and depreciation. The Company does not have any deferred tax liabilities. Since the Company has not yet achieved sustained profitable operations, management believes its deferred tax assets do not satisfy the more-likely-than-not realization criteria and has provided an allowance for the full amount of the tax asset. As a result, the Company has not recorded any income tax benefit since its inception.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

Warrants to Purchase Common Stock

3 Months Ended

Mar. 31, 2013

Warrants and Rights Note Disclosure [Abstract]

Warrants Disclosure [Text Block]

8.	Warrants to Purchase Common Stock

In conjunction with various financing transactions, the Company issued warrants to purchase the Company’s common stock. Certain of the warrants include a provision that provides for a reduction in the warrant exercise price if there are subsequent issuances of additional shares of common stock for consideration per share less than the per share warrant exercise prices and the remaining warrants contain a provision that require the underlying shares to be registered upon an IPO. These warrants are deemed to be derivative instruments and as such, are recorded as a liability and are marked-to-market at each reporting period. The Company estimates the fair values of the warrants at each reporting period using a Black-Scholes option-pricing model. Management concluded, under the Company’s facts and circumstances, that the estimated fair values of the warrants using the Black-Scholes option-pricing model approximates, in all material respects, estimates the values determined using a binomial valuation model. The estimates in the Black-Scholes option-pricing model and the binomial valuation model are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk free interest rate and the fair value of the common stock underlying the warrants, and could differ materially in the future. Changes in the fair value of the common stock warrant liability from the prior period are recorded as a component of other income and expense.

The Company will continue to adjust the fair value of the common stock warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable common stock warrants or until such time that the warrants are no longer determined to be derivative instruments.

As of March 31, 2013, the Company had outstanding warrants to purchase a total of 1,042,985 shares of its common stock, at a weighted average exercise price of $9.76 per share. Of these warrants, 55,339 expire in May 2013; 102,656 expire in October 2013; 19,609 expire in May 2014; and 865,381 expire in January 2015, in each case if not exercised. All of these warrants are “in the money” based on the market price of our common stock as of March 31, 2013.

Fair Value Measurements

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

9.	Fair Value Measurements

The carrying amounts of the Company’s receivables and payables approximate their fair value due to their short maturities.

Accounting principles provide guidance for using fair value to measure assets and liabilities. The guidance includes a three level hierarchy of valuation techniques used to measure fair value, defined as follows:

•

Unadjusted Quoted Prices — The fair value of an asset or liability is based on unadjusted quoted prices in active markets for identical assets or liabilities (Level 1).

•

Pricing Models with Significant Observable Inputs — The fair value of an asset or liability is based on information derived from either an active market quoted price, which may require further adjustment based on the attributes of the financial asset or liability being measured, or an inactive market transaction (Level 2).

•

Pricing Models with Significant Unobservable Inputs — The fair value of an asset or liability is primarily based on internally derived assumptions surrounding the timing and amount of expected cash flows for the financial instrument. Therefore, these assumptions are unobservable in either an active or inactive market (Level 3).

Financial assets and liabilities, carried at fair value are classified in the tables below in one of the three categories described above:

				Fair Value Measurements Using
	Total			Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
				(In thousands)

December 31, 2012
Assets:
Money market funds	$	24,862		$	24,862	$	—	$	—
Available for sale securities:
Commercial paper	$	12,966		$	—	$	12,966	$	—
Corporate debt securities		41,850			—		41,850		—
U.S. government and agency securities		9,865			—		9,865		—
Total assets:	$	89,543		$	24,862	$	64,681	$	—

Liabilities:
Warrants to purchase common stock	$	(30,359	)	$	—	$	—	$	(30,359	)
Total liabilities	$	(30,359	)	$	—	$	—	$	(30,359	)

March 31, 2013
Assets:
Money market funds	$	17,352		$	17,352	$	—	$	—
Available for sale securities:
Commercial paper	$	14,975		$	—	$	14,975	$	—
Corporate debt securities		45,646			—		45,646		—
U.S. government and agency securities		11,809			—		11,809		—
Certificate of deposit		78			—		78		—
Total assets:	$	89,860		$	17,352	$	72,508	$	—

Liabilities:
Warrants to purchase common stock	$	(30,413	)	$	—	$	—		(30,413	)
Total liabilities	$	(30,413	)	$	—	$	—	$	(30,413	)

The estimated fair value of marketable debt securities (commercial paper, corporate debt securities, U.S. government and agency securities and certificates of deposit) as of March 31, 2013, by contractual maturity, are as follows:

	Fair Value
	(In thousands)
Due in one year or less	$	47,180
Due after one year through 2 years		25,329
Total investments in debt securities	$	72,509

Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stockholders' Equity and Preferred Stock

3 Months Ended

Mar. 31, 2013

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

10.

Stockholders’ Equity and Preferred Stock

Common Stock

In September 2002, the Company issued 949,035 shares of common stock at a price of $0.03 per share to the founders of the Company (Founders’ shares).

In November 2002, the Company issued 60,576 shares of common stock at a price of $0.03 per share to the principal investigators and other researchers of the Company pursuant to an authorization by the Board of Directors to issue and sell these shares by subscription to the named parties in conjunction with the signing of certain research agreements.

In October 2003, the Company issued 112,498 shares of common stock at a price of $0.03 per share to the two principal investigators pursuant to an authorization by the Board of Directors to issue and sell these shares by subscription.

In October 2003, the Company repurchased and canceled 550,960 Founders’ shares from certain founders of the Company at a price of $0.03 per share.

From October 2003 through May 2004, pursuant to a private placement agreement dated October 2003, the Company issued an aggregate of 392,163 shares of common stock at a price of $7.22 per share, receiving net proceeds of $2.4 million after $474,000 in related offering costs. In addition, Class A warrants to purchase 137,251 shares of common stock and Class B warrants to purchase 117,640 shares of common stock were issued to the placement agent and its assigns as additional placement agent commission under the terms of the placement agent agreement.

In November 2005, the Company issued 51,922 shares of common stock, warrants with a two-year term to purchase 51,922 shares of common stock at an exercise price of $7.22 per share and warrants with a five-year term to purchase 86,538 shares of common stock at an exercise price of $7.22 per share, all pursuant to a private subscription agreement with two outside investors, receiving net proceeds of $375,000.

In May 2006, pursuant to a private placement agreement, the Company issued 2,087,091 shares of common stock at a price of $9.82, receiving net proceeds of $19.5 million, after $1.0 million in related offering costs. Also in May 2006, the Company’s 6% convertible promissory notes that were issued in February 2005 with a face amount of $1.3 million, along with $91,000 of accrued interest, were converted into 160,637 shares of common stock at a price of $8.35 per share pursuant to the mandatory conversion terms of the notes.

In October 2012, the Company completed the initial public offering (IPO) of its common stock pursuant to a registration statement on Form S-1. In the IPO, the Company sold an aggregate of 5,750,000 shares of common stock under the registration statement at a public offering price of $15.00 per share. Net proceeds were approximately $78.7 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. Upon the closing of the IPO, all outstanding shares of the Company’s preferred stock (described below) were converted into 7,403,817 shares of common stock. Additionally, upon completion of the IPO, the Company is now authorized to issue 25,000,000 shares of common stock, $0.001 par value per share, and 5,000,000 shares of preferred stock, $0.001 par value per share.

Dividends

The holders of common stock are entitled to receive dividends from time to time as declared by the Board of Directors. No cash dividend may be declared or paid to common stockholders until paid on each series of outstanding preferred stock in accordance with their respective terms.

Voting

The holders of shares of common stock are entitled to one vote for each share held with respect to all matters voted on by the stockholders of the Company.

Preferred Stock

In May 2008, to effectuate the sale of Series A preferred stock, the Company amended and restated its Certificate of Incorporation in its entirety to increase the number of shares of preferred stock it was authorized to issue to 13,888,889 shares and to designate such shares as Series A preferred stock. In May 2008, 13,888,889 shares of Series A preferred stock were sold to Genextra, S.p.A. for net proceeds of $24.3 million, after $749,000 in related offering costs. In connection with this financing, the Company issued warrants with a five-year term to purchase 108,169 shares of common stock at $10.40 per share to the placement agent.

In January 2010, the Company further amended and restated its Certificate of Incorporation in its entirety to increase the number of shares of preferred stock it was authorized to issue to 27,777,778 shares and designated 13,888,889 of such shares as Series B preferred stock. In January 2010, 13,888,889 shares of Series B preferred stock and a warrant with a five-year term to purchase 865,381 shares of common stock at $10.40 per share were sold to Genextra for $24.9 million, after $112,000 in related offering costs.

In August 2012, the Company further amended and restated its Certificate of Incorporation in its entirety to increase the number of shares of preferred stock it was authorized to issue to 52,777,778 shares and designated 25,000,000 of such shares as Series C preferred stock. In August 2012, 15,000,000 shares of Series C preferred stock were sold to Genextra and OrbiMed Advisors LLC for $29.7 million, after $300,000 in related offering costs.

Upon the completion of the IPO, all outstanding shares of the Company’s preferred stock were converted into 7,403,817 shares of common stock and all accrued dividends on the preferred stock were eliminated.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

2003 Stock Incentive Plan and 2012 Stock Plan

3 Months Ended

Mar. 31, 2013

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

11.

2003 Stock Incentive Plan and 2012 Stock Plan

In 2003, the Board of Directors and the stockholders of the Company approved the Amended and Restated 2003 Stock Incentive Plan (2003 Plan) which provided for the granting of restricted stock, stock options and other stock-related awards to officers, directors, employees, advisors, and consultants of the Company. Stock options were granted at exercise prices not less than the fair market value of the Company’s common stock at the dates of grant. In May 2006, June 2008 and January 2010, the number of common shares available was increased to 519,228, 865,381, and 1,384,610, respectively. Most options are scheduled to vest over a period of up to four years. The 2003 Plan was terminated upon the pricing of the IPO in October 2012, and 555,843 shares available under the 2003 Plan were added to the 2012 Plan. All outstanding options issued under the 2003 Plan as of the date of termination remained outstanding and are subject to their respective terms and the terms of the 2003 Plan.

In September 2012, the Company’s board of directors and stockholders approved the 2012 Equity Incentive Plan (2012 Plan), which became effective upon the pricing of the Company’s IPO in October 2012. The 2012 Plan will expire on September 13, 2022. Under the 2012 Plan, the Company may grant incentive stock options, non-qualified stock options, restricted and unrestricted stock awards and other stock-based awards. On January 1, 2013, the numbers of shares reserved for issuance under the 2012 Plan was increased by 661,075 shares as a result of the automatic increase in shares reserved pursuant to the terms thereof. As of March 31, 2013, there were 878,174 shares of common stock authorized for issuance under the 2012 Plan (including the 555,843 shares of common stock that were added from the 2003 Plan, plus such additional shares as are forfeited or canceled under the 2003 Plan).

The following table summarizes stock option activity during the three months ended March 31, 2013:

	Number of Shares			Weighted Average Exercise Price

Outstanding, December 31, 2012		1,526,150		$	10.67
Granted		130,000			37.69
Exercised		(8,652	)		10.11
Forfeited		(1,589	)		8.67
Outstanding, March 31, 2013		1,645,909		$	12.81

Exercisable, March 31, 2013		1,184,273		$	9.64

On November 16, 2012, the Company granted to employees and directors restricted stock units (“RSUs”) for 173,592 shares of common stock under the 2012 Plan. As of March 31, 2013 none of the RSUs were vested.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Net Loss Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

12.

Net Loss Per Share

The following table presents the historical computation of basic and diluted net loss per share:

	Three Months Ended March 31,
	2012			2013
	(In thousands, except share and per share amounts)
Historical net loss per share
Numerator:
Net loss attributable to common stockholders	$	(3,430	)	$	(10,210	)
Denominator:
Weighted average shares outstanding, basic and diluted		3,329,666			16,558,297
Net loss per share, basic and diluted	$	(1.03	)	$	(0.62	)

The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding:

	As of March 31,
	2012		2013
	(In thousands)

Shares issuable upon conversion of preferred stock		4,808		—
Shares issuable pursuant to accumulated preferred stock dividend		1,045		—
Options		1,309		1,646
Warrants to purchase common stock		1,233		1,043
Restricted stock units		—		176
Total		8,395		2,865

Investments (Tables)

3 Months Ended

Mar. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]

The following table summarizes the Company’s cash, cash equivalents and investments as of December 31, 2012 and March 31, 2013:

	As of December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Cash and cash equivalents:
Cash and money market funds	$	45,512	$	—	$	—		$	45,512
Investment Securities:
Commercial paper		12,971		10		(15	)		12,966
Corporate debt securities		41,866		7		(23	)		41,850
U.S. government and agency securities		9,861		4		—			9,865
Total investments		64,698		21		(38	)		64,681
Total cash, cash equivalents and investments	$	110,210	$	21	$	(38	)	$	110,193

	As of March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Cash and cash equivalents:
Cash and money market funds	$	31,711	$	—	$	—		$	31,711
Investment Securities:
Commercial paper		14,980		1		(6	)		14,975
Corporate debt securities		45,651		10		(15	)		45,646
U.S. government and agency securities		11,804		6		—			11,810
Certificate of deposit		78		—		—			78
Total investments		72,513		17		(21	)		72,509
Total cash, cash equivalents and investments	$	104,224		17		(21	)		104,220

Available-for-sale Securities [Table Text Block]

	As of December 31, 2012
	Less than 12 months
	Fair Value		Gross Unrealized Holding Losses
	(In thousands)
Commercial paper	$	10,461	$	(15	)
Corporate debt securities		29,834		(23	)
Total available-for-sale securities	$	40,295	$	(38	)

	As of March 31, 2013
	Less than 12 months
	Fair Value		Gross Unrealized Holding Losses
	(In thousands)
Commercial paper	$	11,978	$	(6	)
Corporate debt securities		31,285		(15	)
Total available-for-sale securities	$	43,263	$	(21	)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27198-111563

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 19, 20, 21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 17
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-1
-Paragraph 21
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Prepaid Expenses and Other Current Assets (Tables)

3 Months Ended

Mar. 31, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

Prepaid expenses and other current assets consisted of the following:

	December 31,		March 31,
	2012		2013
	(In thousands)
Prepaid expenses	$	970	$	1,063
Contract receivable		496		481
Certificates of deposit		77		—
Refundable tax credits		42		28
Prepaid expenses and other current assets	$	1,585	$	1,572

Fixed Assets, Net (Tables)

3 Months Ended

Mar. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Fixed assets, net consisted of the following:

	December 31,			March 31,
	2012			2013
	(In thousands)
Office equipment	$	357		$	362
Leasehold improvements		178			178
Furniture and fixtures under capitalized lease		157			157
Furniture and fixtures		121			125
Subtotal fixed assets		813			822
Less: accumulated depreciation and amortization		(664	)		(687	)
Fixed assets, net	$	149		$	135

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)

3 Months Ended

Mar. 31, 2013

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accounts payable, accrued expenses and other liabilities consisted of the following:

	December 31,		March 31,
	2012		2013
	(In thousands)
Accounts payable	$	1,180	$	1,341
Accrued employee compensation		1,335		516
Accrued contracted services and other		1,231		1,369
Accounts payable, accrued expenses and other liabilities	$	3,746	$	3,226

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]

Financial assets and liabilities, carried at fair value are classified in the tables below in one of the three categories described above:

				Fair Value Measurements Using
	Total			Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
				(In thousands)

December 31, 2012
Assets:
Money market funds	$	24,862		$	24,862	$	—	$	—
Available for sale securities:
Commercial paper	$	12,966		$	—	$	12,966	$	—
Corporate debt securities		41,850			—		41,850		—
U.S. government and agency securities		9,865			—		9,865		—
Total assets:	$	89,543		$	24,862	$	64,681	$	—

Liabilities:
Warrants to purchase common stock	$	(30,359	)	$	—	$	—	$	(30,359	)
Total liabilities	$	(30,359	)	$	—	$	—	$	(30,359	)

March 31, 2013
Assets:
Money market funds	$	17,352		$	17,352	$	—	$	—
Available for sale securities:
Commercial paper	$	14,975		$	—	$	14,975	$	—
Corporate debt securities		45,646			—		45,646		—
U.S. government and agency securities		11,809			—		11,809		—
Certificate of deposit		78			—		78		—
Total assets:	$	89,860		$	17,352	$	72,508	$	—

Liabilities:
Warrants to purchase common stock	$	(30,413	)	$	—	$	—		(30,413	)
Total liabilities	$	(30,413	)	$	—	$	—	$	(30,413	)

Schedule Of Available For Sale Securities Debt Maturities [Table Text Block]

	Fair Value
	(In thousands)
Due in one year or less	$	47,180
Due after one year through 2 years		25,329
Total investments in debt securities	$	72,509

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References + Details

2003 Stock Incentive Plan and 2012 Stock Plan (Tables)

3 Months Ended

Mar. 31, 2013

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes stock option activity during the three months ended March 31, 2013:

	Number of Shares			Weighted Average Exercise Price

Outstanding, December 31, 2012		1,526,150		$	10.67
Granted		130,000			37.69
Exercised		(8,652	)		10.11
Forfeited		(1,589	)		8.67
Outstanding, March 31, 2013		1,645,909		$	12.81

Exercisable, March 31, 2013		1,184,273		$	9.64

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]

The following table presents the historical computation of basic and diluted net loss per share:

	Three Months Ended March 31,
	2012			2013
	(In thousands, except share and per share amounts)
Historical net loss per share
Numerator:
Net loss attributable to common stockholders	$	(3,430	)	$	(10,210	)
Denominator:
Weighted average shares outstanding, basic and diluted		3,329,666			16,558,297
Net loss per share, basic and diluted	$	(1.03	)	$	(0.62	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding:

	As of March 31,
	2012		2013
	(In thousands)

Shares issuable upon conversion of preferred stock		4,808		—
Shares issuable pursuant to accumulated preferred stock dividend		1,045		—
Options		1,309		1,646
Warrants to purchase common stock		1,233		1,043
Restricted stock units		—		176
Total		8,395		2,865

Nature of Business and Basis of Presentation (Details Textual)	3 Months Ended
	Mar. 31, 2013
Stockholders' Equity, Reverse Stock Split	one-for-5.7778

Significant Agreements (Details Textual)	1 Months Ended					3 Months Ended		7 Months Ended	12 Months Ended			26 Months Ended	55 Months Ended	127 Months Ended
Significant Agreements (Details Textual)	Jun. 30, 2012 USD ($)	Nov. 30, 2011 USD ($)	Aug. 31, 2011 USD ($)	Aug. 31, 2011 EUR (€)	Mar. 31, 2011 USD ($)	Mar. 31, 2013 USD ($)	Mar. 31, 2012 USD ($)	Jul. 31, 2012 EUR (€)	Dec. 31, 2012 USD ($)	Dec. 31, 2012 EUR (€)	Dec. 31, 2011 EUR (€)	Dec. 31, 2010 EUR (€)	Dec. 31, 2010 EUR (€)	Mar. 31, 2013 USD ($)
Licensing revenue						$ 405,405	$ 758,754							$ 4,656,640
Prepaid expenses and other current assets						1,572,450			$ 1,584,308					1,572,450
Research and development						4,832,556	3,059,585							76,267,247
Dainippon Sumitomo Pharma Co Ltd [Member]
License Agreement Up Front Payment					$ 15,000,000
License Agreement Maximum Additional Milestone Payment Development Milestones					30,000,000
License Agreement Maximum Additional Milestone Payment Regulatory Approval Milestones					70,000,000
License Agreement Maximum Additional Milestone Payment Sales Milestones					200,000,000
License Agreement Sales Milestones Criteria One					50,000,000
License Agreement Sales Milestones Criteria Two					100,000,000
License Agreement Sales Milestones Criteria Three					200,000,000
License Agreement Sales Milestones Criteria Four					400,000,000
License Agreement Sales Milestones Criteria Five					120,000,000
Licensing revenue						405,000	405,000
Dainippon Sumitomo Pharma Co Ltd [Member] \| Criteria One [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones					5,000,000
Dainippon Sumitomo Pharma Co Ltd [Member] \| Criteria Two [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones					10,000,000
Dainippon Sumitomo Pharma Co Ltd [Member] \| Criteria Three [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones					20,000,000
Dainippon Sumitomo Pharma Co Ltd [Member] \| Criteria Four [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones					40,000,000
Dainippon Sumitomo Pharma Co Ltd [Member] \| Criteria Five [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones					1,200,000,000
Dainippon Sumitomo Pharma Co Ltd [Member] \| Japan [Member]
License Agreement Maximum Additional Milestone Payment Regulatory Approval Milestones					15,000,000
Dainippon Sumitomo Pharma Co Ltd [Member] \| China [Member]
License Agreement Maximum Additional Milestone Payment Regulatory Approval Milestones					10,000,000
Dainippon Sumitomo Pharma Co Ltd [Member] \| United States [Member]
License Agreement Maximum Additional Milestone Payment Regulatory Approval Milestones					$ 5,000,000
Les Laboratories Servier and Institut De Recherches Servier [Member]
Licensing revenue									354,000
Research Collaboration Agreement Up Front Payment			$ 1,400,000
Research Collaboration Agreement Milestone Payment Development Milestones \| €				€ 8,500,000
Research Collaboration Agreement Milestone Payment Regulatory Submission and Approval Milestones \| €				10,000,000
Research Collaboration Agreement Milestone Payment Sales Milestones \| €				90,000,000
Research Collaboration Agreement Sales Milestones Criteria One \| €				200,000,000
Research Collaboration Agreement Sales Milestones Criteria Two \| €				400,000,000
Research Collaboration Agreement Sales Milestones Criteria Three \| €				500,000,000
Research Collaboration Agreement Sales Milestones Criteria Four \| €				600,000,000
Prepaid expenses and other current assets						481,000			496,000					$ 481,000
Les Laboratories Servier and Institut De Recherches Servier [Member] \| Criteria One [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones \| €				10,000,000
Les Laboratories Servier and Institut De Recherches Servier [Member] \| Criteria Two [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones \| €				20,000,000
Les Laboratories Servier and Institut De Recherches Servier [Member] \| Criteria Three [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones \| €				25,000,000
Les Laboratories Servier and Institut De Recherches Servier [Member] \| Criteria Four [Member]
License Agreement Maximum Additional Milestone Payment Sales Milestones \| €				25,000,000
Les Laboratories Servier and Institut De Recherches Servier [Member] \| Clinical Trial For First Product [Member]
Research Collaboration Agreement Milestone Payment Development Milestones \| €				4,000,000
TES Pharma SRL [Member]
Research and development						333,000	337,000
Research and Development Service Agreement Quarterly Payment \| €										€ 250,000
Professor Pellicciari [Member]
Consulting And Intellectual Property Agreement Fees For Consulting Services \| €								€ 150,000
National Institute Of Diabetes and Digestive and Kidney Disease Institute [Member]
Research and development									$ 1,250,000
Milestone Payment	$ 1,000,000
WIL Research Laboratories LLC [Member]
Research and development						315,000	446,500
Master Laboratory Service Agreement Aggregate Payment		$ 4,000,000
Master Laboratory Service Agreement Quarterly Installment Payment		300,000
Master Laboratory Service Agreement Milestone Payment		$ 400,000
University Of Perugia and Professor Roberto Pellicciari [Member]
Sponsored Research Agreement Payment \| €										80,000
Research and development						26,000	33,000
Professor Roberto Pellicciari [Member]
Sponsored Research Agreement Payment \| €											€ 100,000		€ 100,000
Research and development						$ 82,000	$ 85,000
Consulting And Intellectual Property Agreement Fees For Consulting Services \| €										€ 100,000
Consulting And Intellectual Property Agreement Monthly Fees For Consulting Services \| €												€ 8,000
Consulting And Intellectual Property Agreement For Consulting Services Maturity Date						Jan. 01, 2013
Consulting And Intellectual Property Agreement Lump Sum Payment \| €												172,500	€ 172,500
Consulting And Intellectual Property Agreement Monthly Payment For Assignment Of Intellectual Property Rights \| €												€ 12,000
Consulting and Intelluctual Property Agreement Performance Bonus \| €				50,000
First Product Candidate [Member]
License Agreement Maximum Additional Milestone Payment Regulatory Approval Milestones \| €				€ 5,000,000

Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Dec. 31, 2012
Investment Securities
Total investments, Amortized Cost	$ 72,513	$ 64,698
Total cash and cash equivalents and investments, Amortized Cost	104,224	110,210
Total investments, Gross Unrealized Gains	17	21
Total cash and cash equivalents and investments, Gross Unrealized Gains	17	21
Total investments, Gross Unrealized Losses	(21)	(38)
Total cash and cash equivalents and investments, Gross Unrealized Losses	(21)	(38)
Total investments, Fair Value	72,509	64,681
Total cash and cash equivalents and investments, Fair Value	104,220	110,193
Commercial Paper [Member]
Investment Securities
Total investments, Amortized Cost	14,980	12,971
Total investments, Gross Unrealized Gains	1	10
Total investments, Gross Unrealized Losses	(6)	(15)
Total investments, Fair Value	14,975	12,966
Corporate Debt Securities [Member]
Investment Securities
Total investments, Amortized Cost	45,651	41,866
Total investments, Gross Unrealized Gains	10	7
Total investments, Gross Unrealized Losses	(15)	(23)
Total investments, Fair Value	45,646	41,850
Us Government Agencies Debt Securities [Member]
Investment Securities
Total investments, Amortized Cost	11,804	9,861
Total investments, Gross Unrealized Gains	6	4
Total investments, Gross Unrealized Losses	0	0
Total investments, Fair Value	11,810	9,865
Certificate Of Deposit [Member]
Investment Securities
Total investments, Amortized Cost	78
Total investments, Gross Unrealized Gains	0
Total investments, Gross Unrealized Losses	0
Total investments, Fair Value	78
Cash and Money Market Funds [Member]
Cash and cash equivalents:
Cash and Cash Equivalents, Amortized Cost	31,711	45,512
Cash and cash equivalents, Gross Unrealized Gains	0	0
Cash and cash equivalents, Gross Unrealized Losses	0	0
Cash and cash equivalents, Fair Value	$ 31,711	$ 45,512

Investments (Details 1) - USD ($) $ in Thousands	Mar. 31, 2013	Dec. 31, 2012
Total available for sale securities, Less than 12 months Fair Value	$ 43,263	$ 40,295
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	(21)	(38)
Commercial Paper [Member]
Total available for sale securities, Less than 12 months Fair Value	11,978	10,461
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	(6)	(15)
Corporate Debt Securities [Member]
Total available for sale securities, Less than 12 months Fair Value	31,285	29,834
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	$ (15)	$ (23)

Prepaid Expenses and Other Current Assets (Details) - USD ($)	Mar. 31, 2013	Dec. 31, 2012
Prepaid expenses	$ 1,063,000	$ 970,000
Contract receivable	481,000	496,000
Certificates of deposit	0	77,000
Refundable tax credits	28,000	42,000
Prepaid expenses and other current assets	$ 1,572,450	$ 1,584,308

Fixed Assets, Net (Details) - USD ($)	Mar. 31, 2013	Dec. 31, 2012
Fixed assets	$ 822,000	$ 813,000
Less: accumulated depreciation and amortization	(687,000)	(664,000)
Fixed assets, net	134,852	148,838
Office equipment [Member]
Fixed assets	362,000	357,000
Leasehold improvements [Member]
Fixed assets	178,000	178,000
Furniture and fixtures under capitalized lease [Member]
Fixed assets	157,000	157,000
Furniture and fixtures [Member]
Fixed assets	$ 125,000	$ 121,000

- Definition

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References + Details

Fixed Assets, Net (Details Textual) - USD ($)	3 Months Ended
Fixed Assets, Net (Details Textual) - USD ($)	Mar. 31, 2013	Mar. 31, 2012
Depreciation and Amortization	$ 23,000	$ 74,000

- Definition

The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.

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Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($)	Mar. 31, 2013	Dec. 31, 2012
Accounts payable	$ 1,341,000	$ 1,180,000
Accrued employee compensation	516,000	1,335,000
Accrued contracted services and other	1,369,000	1,231,000
Accounts payable, accrued expenses and other liabilities	$ 3,225,749	$ 3,745,773

- Definition

Carrying value as of the balance sheet date of obligations, excluding pension and other postretirement benefits, incurred through that date and payable for perquisites provided to employees pertaining to services received from them. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Millions	Mar. 31, 2013	Dec. 31, 2012
Operating Loss Carryforwards	$ 75.5	$ 70.2
Operating Loss Carryforwards, Expiration Dates	between 2024 and 2032
Deferred Tax Assets, Other	$ 45.1	$ 42.1

Warrants to Purchase Common Stock (Details Textual)	3 Months Ended
Warrants to Purchase Common Stock (Details Textual)	Mar. 31, 2013 $ / Warrant shares	Mar. 31, 2012 shares
Warrants to purchase common stock	1,043,000	1,233,000
Warrants exercised weighted average exercise price \| $ / Warrant	9.76
May 2013 [Member]
Warrants to purchase common stock	55,339
October 2013 [Member]
Warrants to purchase common stock	102,656
May 2014 [Member]
Warrants to purchase common stock	19,609
January 2015 [Member]
Warrants to purchase common stock	865,381

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2013	Dec. 31, 2012
Assets:
Money market funds	$ 17,352	$ 24,862
Available for sale securities:
Commercial paper	14,975	12,966
Corporate debt securities	45,646	41,850
U.S. government and agency securities	11,809	9,865
Certificate of deposit	78
Total assets:	89,860	89,543
Liabilities:
Warrants to purchase common stock	(30,413)	(30,359)
Total liabilities	(30,413)	(30,359)
Fair Value, Inputs, Level 1 [Member]
Assets:
Money market funds	17,352	24,862
Available for sale securities:
Commercial paper	0	0
Corporate debt securities	0	0
U.S. government and agency securities	0	0
Certificate of deposit	0
Total assets:	17,352	24,862
Liabilities:
Warrants to purchase common stock	0	0
Total liabilities	0	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Money market funds	0	0
Available for sale securities:
Commercial paper	14,975	12,966
Corporate debt securities	45,646	41,850
U.S. government and agency securities	11,809	9,865
Certificate of deposit	78
Total assets:	72,508	64,681
Liabilities:
Warrants to purchase common stock	0	0
Total liabilities	0	0
Fair Value, Inputs, Level 3 [Member]
Assets:
Money market funds	0	0
Available for sale securities:
Commercial paper	0	0
Corporate debt securities	0	0
U.S. government and agency securities	0	0
Certificate of deposit	0
Total assets:	0	0
Liabilities:
Warrants to purchase common stock	(30,413)	(30,359)
Total liabilities	$ (30,413)	$ (30,359)

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	Mar. 31, 2013	Dec. 31, 2012
Due in one year or less	$ 47,180
Due after one year through 2 years	25,329
Total investments in debt securities	$ 72,509	$ 64,681

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

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Stockholders' Equity and Preferred Stock (Details Textual) - USD ($)	1 Months Ended										3 Months Ended		8 Months Ended	12 Months Ended		64 Months Ended	127 Months Ended
	Oct. 31, 2012	Aug. 31, 2012	Jan. 31, 2010	May 31, 2008	May 31, 2006	Nov. 30, 2005	Feb. 28, 2005	Oct. 31, 2003	Nov. 30, 2002	Sep. 30, 2002	Mar. 31, 2013	Mar. 31, 2012	May 31, 2004	Dec. 31, 2010	Dec. 31, 2008	Dec. 31, 2007	Mar. 31, 2013	Dec. 31, 2012	Feb. 05, 2005
Proceeds from issuance of stock offerings, net of issuance costs	$ 78,700,000										$ 0	$ 0					$ 172,477,162
Stock Issued During Period, Shares, New Issues	5,750,000
Preferred stock, authorized	5,000,000	52,777,778	27,777,778
Number Of Common Shares Attributable To Conversion Of Preferred Stock	7,403,817	7,403,817
Stock Issued During Period Value Issued In Private Placement In November Two Thousand And Five																$ 375,000
Equity Issuance, Per Share Amount (in dollars per share)	$ 15
Common stock, authorized	25,000,000										25,000,000						25,000,000	25,000,000
Common stock, par value (in dollars per share)	$ 0.001										$ 0.001						$ 0.001	$ 0.001
Preferred stock, par value (in dollars per share)	$ 0.001
Series A Preferred Stock [Member]
Costs associated with issuance of stock				$ 749,000
Preferred stock, authorized				13,888,889
Net Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants				$ 24,300,000
Series B Preferred Stock [Member]
Costs associated with issuance of stock			$ 112,000
Warrant Expiration Period			5 years
Warrant Exercise Price			$ 10.4
Preferred stock, authorized			13,888,889
Preferred stock, issued			13,888,889
Net Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants			$ 24,900,000
Series C Preferred Stock [Member]
Stock Issued During Period Exercise Price New Issues		$ 15,000,000
Costs associated with issuance of stock		$ 300,000
Preferred stock, authorized		25,000,000
Net Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants		$ 29,700,000
Convertible Notes Payable [Member]
Debt Instrument, Interest Rate, Stated Percentage																			6.00%
Preferred stock, authorized																			1,300,000
Preferred stock, issued																			91,000
Private Placement [Member]
Proceeds from issuance of stock offerings, net of issuance costs					$ 19,500,000
Common Stock [Member]
Stock Issued During Period Shares Issued For Services To Founders										949,035
Stock Issued During Period Exercise Price Of Shares Issued For Services To Founders									$ 0.03	$ 0.03
Stock Issued During Period Shares Issued For Services To Principal Investigators and Researchers									60,576
Stock Issued During Period Exercise Price Of Shares Issued For Services To Principal Investigators and Researchers									$ 0.03
Stock Issued During Period Shares Issued For Services To Two Principal Investigators								112,498
Stock Issued During Period Exercise Price Of Shares Issued For Services To Two Principal Investigators								$ 0.03
Stock Repurchased and Retired During Period Shares								550,960
Stock Repurchased and Retired During Period Price Per Share								$ 0.03
Stock Issued During Period Shares Issued In Private Placement In May Two Thousand and Six					2,087,091
Warrants Issued During Period Number Of Warrants														865,381	108,169
Warrant Expiration Period															5 years
Warrant Exercise Price															$ 10.4
Stock Issued During Period, Shares, Conversion of Convertible Securities							160,637
Debt Instrument, Convertible, Conversion Price					$ 8.35
Preferred Units, Offering Costs													$ 474,000
Common Stock [Member] \| Private Placement [Member]
Stock Issued During Period Shares Issued In Private Placement October Two Thousand and Three													392,163
Stock Issued During Period Exercise Price New Issues					$ 9.82								$ 7.22
Costs associated with issuance of stock					$ 1,000,000
Proceeds from issuance of stock offerings, net of issuance costs													$ 2,400,000
Common Stock [Member] \| Private Placement [Member] \| Class A Warrants [Member]
Warrants Issued During Period Number Of Warrants													137,251
Common Stock [Member] \| Private Placement [Member] \| Class B Warrants [Member]
Warrants Issued During Period Number Of Warrants													117,640
Warrant One [Member]
Warrants Issued During Period Number Of Warrants						51,922
Warrant Expiration Period						2 years
Warrant Exercise Price						$ 7.22
Warrant Two [Member]
Warrants Issued During Period Number Of Warrants						86,538
Warrant Expiration Period						5 years
Warrant Exercise Price						$ 7.22