Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities
Net (loss) income	$ (137,125)us-gaap_NetIncomeLoss	$ (83,352)us-gaap_NetIncomeLoss	$ 11,366us-gaap_NetIncomeLoss
Adjustments to reconcile net income (loss) to cash used in operating activities:
Depreciation and amortization	1,542us-gaap_DepreciationAndAmortization	1,359us-gaap_DepreciationAndAmortization	1,389us-gaap_DepreciationAndAmortization
Amortization of premium on investment securities	3,703	2,333	1,469
Stock-based compensation expense	9,333us-gaap_ShareBasedCompensation	4,974us-gaap_ShareBasedCompensation	2,809us-gaap_ShareBasedCompensation
Revaluation of convertible preferred stock warrant liability		(24)us-gaap_FairValueAdjustmentOfWarrants	(83)us-gaap_FairValueAdjustmentOfWarrants
Unrealized (gain) loss on foreign currency forward contracts	114	(261)	(51)
Changes in operating assets and liabilities:
Receivables from collaborations	252	353	293
Prepaid expenses and other current assets	(2,128)	(469)	(2,481)
Prepaid and other long-term assets	(15,559)	396	(2,091)
Accounts payable	10,763	(1,773)	2,017
Accrued compensation and employee benefits	893	650	(980)
Accrued and other liabilities	(3,826)	11,908	3,375
Deferred revenue	31,374	1,169	(65,426)
Other long-term liabilities	(42)	(878)	(831)
Net cash used in operating activities	(100,706)	(63,615)	(49,225)
Investing activities
Purchases of property and equipment	(1,629)	(933)	(362)
Purchases of investments	(332,171)us-gaap_PaymentsToAcquireInvestments	(219,813)us-gaap_PaymentsToAcquireInvestments	(144,644)us-gaap_PaymentsToAcquireInvestments
Proceeds from sales of investments	2,603	8,009	36,517
Proceeds from maturities of investments	192,045	92,001	40,687
Net cash used in investing activities	(139,152)	(120,736)	(67,802)
Financing activities
Proceeds from public offering of common stock, net of underwriters discount	175,185	251,865
Payment of public offering costs	(564)us-gaap_PaymentsOfStockIssuanceCosts	(5,883)us-gaap_PaymentsOfStockIssuanceCosts
Proceeds from issuance of common stock, including early exercise of stock options	4,978	2,529	317
Net cash provided by financing activities	179,599	248,511	317
Net increase (decrease) in cash and cash equivalents	(60,259)	64,160	(116,710)
Cash and cash equivalents at beginning of year	117,773	53,613	170,323
Cash and cash equivalents at end of year	57,514	117,773	53,613
Supplemental disclosure of cash flow information
Income taxes paid			57us-gaap_IncomeTaxesPaidNet
Noncash investing and financing activities:
Net change in accrued compensation and employee benefits related to ESPP	(51)
Net change in accounts payable related to purchase of property and equipment	$ 89	$ 165

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