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Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Jun. 30, 2014
Quarterly Financial Information (Unaudited)  
Schedule of Quarterly Financial Information (Unaudited)
 
   Fiscal Year 2014  
 
   First Quarter
Ended
September 30, 2013		   Second Quarter
Ended
December 31, 2013		   Third Quarter
Ended
March 31, 2014		   Fourth Quarter
Ended
June 30, 2014		  
 
   (In thousands, except per share data)
  

Revenues:

                          

License and milestone fees

   $ 13,167   $ 25,678   $ 305   $ 305  

Royalty revenue

     2,053     2,335     2,558     3,400  

Research and development support

     1,990     1,922     1,948     1,327  

Clinical materials revenue

     8     125     2,064     711  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     17,218     30,060     6,875     5,743  

Expenses:

                          

Research and development

     22,029     20,862     38,280     25,787  

General and administrative

     6,526     5,447     6,040     6,456  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total expenses

     28,555     26,309     44,320     32,243  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Loss from operations

     (11,337 )   3,751     (37,445 )   (26,500 )

Other income (expense), net

     111     62     (7 )   1  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net (loss) income

   $ (11,226 ) $ 3,813   $ (37,452 ) $ (26,499 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Basic and diluted net (loss) income per common share          

   $ (0.13 ) $ 0.04   $ (0.44 ) $ (0.31 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

 

 
   Fiscal Year 2013  
 
   First Quarter
Ended
September 30, 2012		   Second Quarter
Ended
December 31, 2012		   Third Quarter
Ended
March 31, 2013		   Fourth Quarter
Ended
June 30, 2013		  
 
   (In thousands, except per share data)
  

Revenues:

                          

License and milestone fees

   $ 933   $ 429   $ 22,010   $ 855  

Royalty revenue

     —     —     —     592  

Research and development support

     1,377     2,036     2,257     2,203  

Clinical materials revenue

     1,781     147     734     181  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     4,091     2,612     25,001     3,831  

Expenses:

                          

Research and development

     23,700     21,656     21,318     20,399  

General and administrative

     5,639     5,464     4,995     5,373  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total expenses

     29,339     27,120     26,313     25,772  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Loss from operations

     (25,248 )   (24,508 )   (1,312 )   (21,941 )

Other income (expense), net

     56     115     (39 )   66  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net loss

   $ (25,192 ) $ (24,393 ) $ (1,351 ) $ (21,875 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Basic and diluted net loss per common share

   $ (0.30 ) $ (0.29 ) $ (0.02 ) $ (0.26 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​