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Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended 106 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Cash flows from operating activities:      
Net loss $ (48,083) $ (49,732) $ (235,675)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 265 95 2,181
Stock-based compensation 2,290 1,314 17,591
Change in fair value of warrants 6,461 8,965 1,740
Loss on disposal of fixed assets     9
Common stock issued in exchange for in-process research and development   17,457 17,457
(Increase) decrease in:      
Collaboration receivable 79    
Prepaid expenses and other current assets (7,738) (592) (9,051)
Other noncurrent assets (53) (519) (824)
Deposits (41) (4) (132)
Increase (decrease) in:      
Accounts payable (258) 753 1,469
Accrued expenses 4,681 3,546 15,502
Deferred revenue (400) 4,733 3,933
Deferred rent 172 (5) 367
Net cash used in operating activities (42,625) (13,989) (185,433)
Cash flows from investing activities:      
Purchases of property and equipment (1,107) (392) (4,174)
Proceeds from sale of property and equipment     1
Net cash used in investing activities (1,107) (392) (4,173)
Cash flows from financing activities:      
Stockholders' capital contribution     500
Proceeds from exercise of stock options 30 849 1,373
Payments to employees for repurchase of common stock   (78) (2,321)
Proceeds from exercise of warrants 210 12,293 12,959
Proceeds from issuance of common stock and warrants, net 49,170 71,207 270,726
Proceeds from issuance of preferred stock, net     16,760
Net cash provided by financing activities 49,410 84,271 299,997
Net increase (decrease) in cash and cash equivalents 5,678 69,890 110,391
Cash and cash equivalents, beginning of period 104,713 60,392  
Cash and cash equivalents, end of period 110,391 130,282 110,391
Supplementary disclosure of cash flow information:      
Cash paid for interest         
Cash paid for income taxes         
Supplementary disclosure of noncash investing and financing activities:      
Warrants issued to placement agents and investors     47,276
Exercise of liability-classified warrants to common shares 412 265 764
Convertible Preferred Stock
     
Supplementary disclosure of noncash investing and financing activities:      
Preferred stock conversion/exercise of equity-classified warrants to common stock     16,760
Warrant Exercise
     
Supplementary disclosure of noncash investing and financing activities:      
Preferred stock conversion/exercise of equity-classified warrants to common stock $ 166 $ 8,992 $ 9,490