Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2013

Summary of Significant Accounting Policies

Schedule of inventory

Inventory at June 30, 2013 and 2012 is summarized below (in thousands):

	June 30,
	2013		2012
Raw materials	$	75	$	129
Work in process		628		1,159
Total	$	703	$	1,288

Schedule of components of other accrued liabilities

Other accrued liabilities consisted of the following at June 30, 2013 and 2012 (in thousands):

	June 30,
	2013		2012
Accrued contract payments	$	2,406	$	1,773
Accrued clinical trial costs		1,849		865
Accrued professional services		678		677
Accrued employee benefits		411		351
Accrued public reporting charges		179		208
Other current accrued liabilities		526		715
Total	$	6,049	$	4,589

Schedule of assets that are required to be measured at fair value on a recurring basis

As of June 30, 2013, the Company held certain assets that are required to be measured at fair value on a recurring basis. The following table represents the fair value hierarchy for the Company's financial assets measured at fair value on a recurring basis as of June 30, 2013 (in thousands):

	Fair Value Measurements at June 30, 2013 Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Cash, cash equivalents and restricted cash	$	197,191	$	197,191	$	—	$	—
	$	197,191	$	197,191	$	—	$	—

        As of June 30, 2012, the Company held certain assets that are required to be measured at fair value on a recurring basis. The following table represents the fair value hierarchy for the Company's financial assets measured at fair value on a recurring basis as of June 30, 2012 (in thousands):

	Fair Value Measurements at June 30, 2012 Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Cash, cash equivalents and restricted cash	$	163,488	$	163,488	$	—	$	—
	$	163,488	$	163,488	$	—	$	—

Schedule of estimated useful lives of property and equipment

Machinery and equipment	5 years
Computer hardware and software	3 years
Furniture and fixtures	5 years
Leasehold improvements	Shorter of remaining lease term or 7 years

Schedule of common stock equivalents, as calculated in accordance with the treasury-stock method

The Company's common stock equivalents, as calculated in accordance with the treasury-stock method, are shown in the following table (in thousands):

	June 30,
	2013		2012		2011
Options outstanding to purchase common stock and unvested restricted stock		7,703		6,442		6,491
Common stock equivalents under treasury stock method		2,149		2,194		1,901

Schedule of weighted-average assumptions used to estimate the fair value of each stock option

	Year Ended June 30,
	2013	2012	2011
Dividend	None	None	None
Volatility	60.44%	59.70%	58.81%
Risk-free interest rate	0.87%	2.16%	2.43%
Expected life (years)	6.3	7.1	7.2

Summary of stock option activity

A summary of option activity under the 2006 Plan as of June 30, 2013, and changes during the twelve month period then ended is presented below (in thousands, except weighted-average data):

	Number of Stock Options			Weighted- Average Exercise Price		Weighted- Average Remaining Life in Yrs		Aggregate Intrinsic Value
Outstanding at June 30, 2012		6,442		$	8.98
Granted		2,047		$	15.22
Exercised		(666	)	$	6.05
Forfeited/Canceled		(170	)	$	13.87
Outstanding at June 30, 2013		7,653		$	10.79		6.89	$	44,351
Outstanding at June 30, 2013—vested or unvested and expected to vest		7,466		$	10.70		6.84	$	43,991
Exercisable at June 30, 2013		4,202		$	7.97		5.53	$	36,220

Summary of restricted stock activity

A summary of restricted stock activity under the 2006 Plan as of June 30, 2013, and changes during the twelve month period then ended is presented below (in thousands, except weighted-average data):

	Number of Restricted Stock		Weighted- Average Exercise Price
Unvested at June 30, 2012		—	$	—
Granted		50,000		11.93
Unvested at June 30, 2013		50,000	$	11.93

Summary of vested stock option activity

A summary of option activity for options vested during the fiscal years ended June 30, 2013, 2012 and 2011 is presented below (in thousands):

	Year Ended June 30,
	2013		2012		2011
Total fair value of options vested	$	9,670	$	5,647	$	3,427
Total intrinsic value of options exercised		6,737		12,476		3,467
Cash received for exercise of stock options		4,026		6,988		2,719

Schedule of percentage of total revenue recognized from each significant customer

	Year Ended June 30,
Collaborative Partner:	2013	2012	2011
Amgen	6%	30%	41%
Bayer HealthCare	4%	15%	17%
Biotest	5%	14%	9%
Novartis	49%	16%	7%
Roche	30%	0%	0%
Sanofi	3%	23%	23%