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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net loss $ (39,211,000) $ (36,565,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-employee stock option expense   142,000
Stock-based compensation 5,127,000 4,013,000
Issuance of common stock for services rendered 129,000 90,000
Accretion of premiums and discounts on investments 466,000 397,000
Depreciation and amortization expense 484,000 346,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (48,000) (1,163,000)
Accounts payable, accrued expenses, and other liabilities 937,000 (1,590,000)
Deferred revenue (833,000)  
Net cash used in operating activities (32,949,000) (34,330,000)
Cash Flows from Investing Activities:    
Purchases of available-for-sale securities (2,946,000) (63,106,000)
Proceeds from maturity of available-for-sale securities 29,946,000 23,602,000
Proceeds from sale of available-for-sale securities 1,974,000 999,000
Purchases of property and equipment (369,000) (659,000)
Net cash provided by (used in) investing activities 28,605,000 (39,164,000)
Cash Flows from Financing Activities:    
Proceeds from equity financings, net of issuance costs   80,599,000
Proceeds from exercise of common stock warrants and options and employee stock purchases 111,000 987,000
Payments on note payable (193,000) (59,000)
Payments on capital lease (6,000) (8,000)
Net cash (used in) provided by financing activities (88,000) 81,519,000
Net increase (decrease) in cash and cash equivalents (4,432,000) 8,025,000
Cash and cash equivalents, beginning of period 26,586,000 19,971,000
Cash and cash equivalents, end of period $ 22,154,000 $ 27,996,000