Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2012	Mar. 13, 2013	Jun. 30, 2012
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Trading Symbol	OMER
Entity Registrant Name	OMEROS CORP
Entity Central Index Key	0001285819
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		25,910,399
Entity Public Float			$ 202,573,390

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 1,520	$ 4,005
Short-term investments	20,830	20,565
Grant and other receivables	1,934	876
Prepaid expenses and other current assets	416	502
Total current assets	24,700	25,948
Property and equipment, net	1,037	739
Restricted cash	679	193
Other assets	159	102
Total assets	26,575	26,982
Current liabilities:
Accounts payable	2,632	2,002
Accrued expenses	5,716	5,340
Deferred revenue	970	5,748
Current portion of notes payable, net of discount		5,895
Total current liabilities	9,318	18,985
Notes payable, net of current portion and discount	20,103	13,551
Deferred rent, net of current portion	3,685
Commitments and contingencies
Shareholders' equity:
Preferred stock, par value $0.01 per share: Authorized shares-20,000,000 at December 31, 2012 and 2011; Issued and outstanding shares-none
Common stock, par value $0.01 per share: Authorized shares-150,000,000 at December 31, 2012 and 2011; Issued and outstanding shares-25,897,483 and 22,430,234 at December 31, 2012 and 2011, respectively	259	224
Additional paid-in capital	207,787	170,355
Accumulated deficit	(214,577)	(176,133)
Total shareholders' deficit	(6,531)	(5,554)
Total liabilities and shareholders' equity	$ 26,575	$ 26,982

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2012	Dec. 31, 2011
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, Authorized shares	20,000,000	20,000,000
Preferred stock, Issued shares
Preferred stock, outstanding shares
Common stock, par value	$ 0.01	$ 0.01
Common stock, Authorized shares	150,000,000	150,000,000
Common stock, Issued shares	25,897,483	22,430,234
Common stock, outstanding shares	25,897,483	22,430,234

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References+ Details

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenue	$ 6,022	$ 4,524	$ 2,105
Operating expenses:
Research and development	31,922	23,718	23,465
Selling, general and administrative	10,985	8,216	8,746
Litigation settlement	3,953
Litigation recovery	(3,953)
Total operating expenses	42,907	31,934	32,211
Loss from operations	(36,885)	(27,410)	(30,106)
Investment income	40	51	167
Interest expense	(1,729)	(1,884)	(1,535)
Loss on extinguishment of debt			(296)
Other income, net	130	697	2,519
Net loss	(38,444)	(28,546)	(29,251)
Realized loss on sale of available-for-sale securities			(41)
Comprehensive loss	$ (38,444)	$ (28,546)	$ (29,292)
Basic and diluted net loss per share	$ (1.59)	$ (1.29)	$ (1.37)
Weighted-average shares used to compute basic and diluted net loss per share	24,155,690	22,212,351	21,420,883

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2009	$ 43,145,000	$ 213,000	$ 161,227,000	$ 41,000	$ (118,336,000)
Beginning Balance (in shares) at Dec. 31, 2009		21,285,577
Issuance of common stock warrants/warrant modification	994,000		994,000
Issuance of common stock to Patobios at $8.30 per share in connection with GPCR technology purchase (in shares)		379,039
Issuance of common stock to Patobios at $8.30 per share in connection with GPCR technology purchase	3,146,000	4,000	3,142,000
Issuance of common stock upon exercise of stock options for cash (in shares)		256,220
Issuance of common stock upon exercise of stock options for cash	299,000	2,000	297,000
Stock-based compensation	2,178,000		2,178,000
Realized loss on sale of available-for-sale securities	(41,000)			(41,000)
Net loss	(29,251,000)				(29,251,000)
Ending Balance at Dec. 31, 2010	20,470,000	219,000	167,838,000		(147,587,000)
Ending Balance (in shares) at Dec. 31, 2010		21,920,836
Issuance of common stock upon exercise of stock options for cash (in shares)		509,398
Issuance of common stock upon exercise of stock options for cash	595,000	5,000	590,000
Stock-based compensation	1,927,000		1,927,000
Net loss	(28,546,000)				(28,546,000)
Ending Balance at Dec. 31, 2011	(5,554,000)	224,000	170,355,000		(176,133,000)
Ending Balance (in shares) at Dec. 31, 2011		22,430,234
Issuance of stock (in shares)		3,365,854
Issuance of stock	32,306,000	34,000	32,272,000
Issuance of common stock warrants/warrant modification	511,000		511,000
Issuance of common stock upon exercise of stock options for cash (in shares)	101,395	101,395
Issuance of common stock upon exercise of stock options for cash	369,000	1,000	368,000
Stock-based compensation	4,281,000		4,281,000
Net loss	(38,444,000)				(38,444,000)
Ending Balance at Dec. 31, 2012	$ (6,531,000)	$ 259,000	$ 207,787,000		$ (214,577,000)
Ending Balance (in shares) at Dec. 31, 2012		25,897,483

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) (Parenthetical) (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Issuance of common stock, price per share	$ 10.25		$ 8.30
Issuance of common stock, offering costs	$ 2.2
Minimum
Issuance of common stock, price per share	$ 0.76	$ 0.52	$ 0.52
Maximum
Issuance of common stock, price per share	$ 7.56	$ 2.45	$ 6.05

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating activities
Net loss	$ (38,444)	$ (28,546)	$ (29,251)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	320	435	472
Stock-based compensation expense	4,281	1,927	2,178
Non-cash interest expense	354	352	174
Loss on extinguishment of debt			296
Warrant modification expense and other	511		33
Changes in operating assets and liabilities:
Grant and other receivables	(1,059)	2,254	(1,231)
Prepaid expenses and other current and noncurrent assets	(438)	(201)	(87)
Accounts payable and accrued expenses	957	339	1,462
Deferred revenue	(4,718)	(2,228)	11,452
Deferred rent, net of current portion	3,685
Net cash used in operating activities	(34,551)	(25,668)	(14,502)
Investing activities
Purchases of property and equipment	(642)	(1,241)	(807)
Purchase of Patobios intellectual property assets			(7,631)
Reimbursement of Patobios intellectual property assets			7,631
Purchases of investments	(49,547)	(9,000)	(57,765)
Proceeds from the sale of investments	49,282	27,150	78,173
Proceeds from the maturities of investments			323
Net cash (used in) provided by investing activities	(907)	16,909	19,924
Financing activities
Proceeds from issuance of common stock upon public offering	32,306
Net proceeds from borrowings under note payable	6,492	9,942	9,742
Payments on notes payable	(6,194)	(1,051)	(13,005)
Proceeds from issuance of common stock upon exercise of stock options	369	595	299
Net cash provided by (used in) financing activities	32,973	9,486	(2,964)
Net (decrease) increase in cash and cash equivalents	(2,485)	727	2,458
Cash and cash equivalents at beginning of period	4,005	3,278	820
Cash and cash equivalents at end of period	1,520	4,005	3,278
Supplemental cash flow information
Cash paid for interest	1,502	1,461	1,362
Issuance of common stock to Patobios in connection with purchase of intellectual property assets			3,146
Reduction of equipment cost basis due to assets purchased with grant funding	59	1,689
Issuance of warrants in connection with the Vulcan funding agreement			994
Property acquired under capital lease	$ 30		$ 201

Organization and Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Organization and Significant Accounting Policies

Note 1—Organization and Significant Accounting Policies

Organization

We are a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system. Our most clinically advanced products are derived from our proprietary PharmacoSurgery™ platform designed to improve clinical outcomes of patients undergoing ophthalmological, arthroscopic, urological and other surgical and medical procedures. Our efforts are devoted to conducting research and development of our products, to developing our patent portfolio and to raising equity capital.

Basis of Presentation

Our consolidated financial statements include the financial position and results of operations of Omeros and nura, inc., or nura, our wholly owned subsidiary.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. We base our estimates on historical experience and on various other factors that we believe are reasonable under the circumstances; however, actual results could differ from those estimates.

Liquidity and Capital Resources

We believe that our existing cash, cash equivalents and short-term investments and available capital under our at-the-market sales agreement and our committed equity line financing facility will be sufficient to fund our anticipated operating expenses, capital expenditures and note payments for at least the next 12 months. Our assumptions include our ability to raise capital under our $60.0 million at-the-market sales agreement with MLV & Co. LLC, or MLV, and under our committed equity line financing facility with Azimuth Opportunity, Ltd., or Azimuth. Our Azimuth facility includes terms that limit the amount of committed proceeds we can raise in specified periods, which terms are described in Note 9. Because the Azimuth facility will expire on June 1, 2013, taking into account its limitations, we believe that the amount of committed proceeds that we could raise before June 1, 2013 would be significantly less than $40.0 million. We are unable to estimate the actual amount as it depends on the price of our stock at the time we use the facility. If we do not raise additional capital, we may be required to delay, reduce the scope of, or eliminate our research and development programs, reduce our planned commercialization efforts or obtain funds through arrangements with collaborators or others that may require us to relinquish rights to certain products that we might otherwise seek to develop or commercialize independently, or enter into corporate collaborations at an earlier stage of development than we might otherwise choose.

We expect our continuing operating losses to result in an increasing total amount of cash used in operations over the next several years. To meet our future capital requirements, we will need to finance our future cash needs through public or private equity offerings, debt financings or corporate collaboration and licensing arrangements. Except for our committed equity line financing facility with Azimuth which expires on June 1, 2013, we currently do not have any commitments for future external equity or debt funding. Additional equity or debt financing or corporate collaboration and licensing arrangements may not be available on acceptable terms, if at all. In addition, any future equity funding will dilute the ownership of our equity investors.

Financial Instruments and Concentrations of Credit Risk

Cash and cash equivalents, grant and other receivables, accounts payable, and accrued liabilities, which are recorded at cost, approximate fair value based on the short-term nature of these financial instruments. The fair value of short-term investments is based on quoted market prices. Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. Cash and cash equivalents are held by financial institutions and are federally insured up to certain limits. At times, our cash and cash equivalents balance exceeds the federally insured limits. To limit the credit risk, we invest our excess cash primarily in high quality securities such as money market mutual funds, certificates of deposit, and commercial paper.

Cash and Cash Equivalents, Short-Term Investments, and Restricted Cash

Cash and cash equivalents include highly liquid investments with a maturity of three months or less on the date of purchase. Short-term investment securities are classified as available-for-sale and are carried at fair value. Unrealized gains and losses are reported as a separate component of shareholders’ deficit, if necessary. Amortization, accretion, interest and dividends, realized gains and losses, and declines in value judged to be other-than-temporary are included in investment income. The cost of securities sold is based on the specific-identification method. Investments in securities with maturities of less than one year, or those for which management intends to use the investments to fund current operations, are included in current assets. We evaluate whether an investment is other-than-temporarily impaired. This evaluation is dependent on the specific facts and circumstances. Factors that are considered in determining whether an other-than-temporary decline in value has occurred include: the market value of the security in relation to its cost basis; the financial condition of the investee; and the intent and ability to retain the investment for a sufficient period of time to allow for recovery in the market value of the investment. Restricted cash consists of cash equivalents, the use of which is restricted and serves as collateral securing a letter of credit under a facility operating lease.

Property and Equipment

Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful life of the assets, which is generally three to ten years. Equipment financed under capital leases are amortized over the shorter of the useful lives of the related assets or the lease term.

Impairment of Long-Lived Assets

The carrying amount of long-lived assets, including property and equipment, are reviewed whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of these assets is measured by comparing the carrying value to future undiscounted cash flows that the asset is expected to generate. If the asset is considered to be impaired, the amount of any impairment will be reflected in the result of operations in the period of impairment. We have not recognized any impairment losses.

Deferred Rent

We recognize rent expense on a straight-line basis over the noncancelable term of our operating leases and, accordingly, record the difference between cash rent payments and the recognition of rent expense as a deferred rent liability. We also record landlord-funded lease incentives, such as reimbursable leasehold improvements, as a deferred rent liability which is amortized as a reduction of rent expense over the noncancelable terms of our operating leases.

Revenue Recognition

Revenue is recognized when there is persuasive evidence that an arrangement exists, service has been provided, the price is fixed or determinable, and collection is reasonably assured.

Our revenue relates to grant funding from third parties and revenue recognized in connection with funding from Vulcan Inc. and its affiliate, which we refer to collectively as Vulcan, and the Life Sciences Discovery Fund Authority, a granting agency of the State of Washington, or LSDF, for our G protein-coupled receptor, or GPCR, program. We recognize such funds as revenue when the related qualifying research and development expenses are incurred up to the limit of the approved funding amounts. Funds received in advance of services being provided are recorded as deferred revenue and recognized as revenue as research is performed.

Research and Development

Research and development costs are comprised primarily of costs for personnel, including salaries and benefits; occupancy; clinical studies performed by third parties; materials and supplies to support our clinical programs; contracted research; manufacturing; related consulting arrangements; and other expenses incurred to sustain our overall research and development programs. Research and development expenses are expensed as incurred.

Nonrefundable advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are then recognized as an expense as the related goods are delivered or the services are performed, or when the goods or services are no longer expected to be provided.

Patents

We generally apply for patent protection on processes and products. Patent application costs are expensed as incurred as a component of general and administrative expense, as recoverability of such expenditures is uncertain.

Income Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases. Deferred tax assets and liabilities are measured using enacted tax rates applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is established when it is not more likely than not that the deferred tax assets will be realized.

Stock-Based Compensation

Stock-based compensation expense is recognized for all share-based payments made to employees and directors based on estimated fair values. We use the straight-line method to allocate compensation cost to reporting periods over the optionees’ requisite service period, which is generally the vesting period. Stock options granted to non-employees are accounted for using the fair value approach and are subject to periodic revaluation over their vesting terms. The fair value of our stock options is calculated using the Black-Scholes option-pricing model. The Black-Scholes model requires judgmental assumptions including volatility, forfeiture rates and expected option life. If any of the assumptions used in the Black-Scholes model change significantly, stock-based compensation expense for new awards may differ materially from that recorded for existing awards.

Segments

We operate in one segment. Management uses cash flow as the primary measure to manage our business and does not segment our business for internal reporting or decision-making.

Adoption of Standards

In June 2011, the Financial Accounting Standards Board issued an Accounting Standards Update, or ASU, related to the presentation of comprehensive income that requires companies to present the components of net income and other comprehensive income either as one continuous statement or as two consecutive statements. It eliminated the option to present components of other comprehensive income as part of the statement of changes in shareholders’ equity. The standard does not change the items that must be reported in other comprehensive income, how such items are measured or when they must be reclassified to net income. This standard, which must be applied retroactively, was effective for interim and annual periods beginning after December 15, 2011. We adopted the standards on January 1, 2012 and now present a combined statement of operations and comprehensive loss in our accompanying financial statements.

Net Loss Per Share

12 Months Ended

Dec. 31, 2012

Net Loss Per Share

Note 2—Net Loss Per Share

Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period. The net loss per share for the year ended December 31, 2012 reflects the issuance of 3,365,854 common shares issued in our public offering in the third quarter of 2012.

Diluted net loss per share is computed by dividing the net loss by the weighted-average number of unrestricted common shares and dilutive common share equivalents outstanding for the period, determined using the treasury-stock method and the as if-converted method. The basic and diluted net loss per share amounts for the years ended December 31, 2012, 2011, and 2010 were computed based on the shares of common stock outstanding during the respective periods. Historical outstanding dilutive securities not included in the diluted loss per share calculation are as follows:


	Year Ended December 31,
	2012		2011		2010
Outstanding options to purchase common stock		5,269,353		3,006,567		3,589,292
Warrants to purchase common stock		609,016		609,016		609,016

Total		5,878,369		3,615,583		4,198,308

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2012

Fair Value Measurements

Note 4—Fair Value Measurements

On a recurring basis, we measure certain financial assets at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, an exit price, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting standard establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required:

Level 1—Observable inputs for identical assets or liabilities, such as quoted prices in active markets;

Level 2—Inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3—Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.

Our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis are as follows:


	December 31, 2012
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Money market mutual funds classified as cash equivalents	$	21	$	—	$	—	$	21
Money-market mutual funds classified as current restricted cash		193		—		—		193
Money market mutual funds classified as non-current restricted cash		679		—		—		679
Money-market mutual funds classified as short-term investments		20,830		—		—		20,830

Total	$	21,723	$	—	$	—	$	21,723


	December 31, 2011
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Money market mutual funds classified as cash equivalents	$	2,394	$	—	$	—	$	2,394
Money market mutual funds classified as current restricted cash		193		—		—		193
Money-market mutual funds classified as short-term investments		20,565		—		—		20,565

Total	$	23,152	$	—	$	—	$	23,152

Cash of $1.5 million and $1.6 million is excluded in our fair-value hierarchy disclosure as of December 31, 2012 and 2011, respectively. There were no unrealized gains and losses associated with our short-term investments as of December 31, 2012 or 2011.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 3, 10, 14, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15C, 15D

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32, 33, 34

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 21

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44A, 44B

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15B

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 17-22, 27, 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15A

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Certain Balance Sheet Accounts

12 Months Ended

Dec. 31, 2012

Certain Balance Sheet Accounts

Note 5—Certain Balance Sheet Accounts

Receivables

Grant and other receivables consisted of the following:


	December 31,
	2012		2011
	(in thousands)
Grant and GPCR funding receivables	$	402	$	862
Lease incentives receivable		1,488		—
Other receivables		44		14

Grant and other receivables	$	1,934	$	876

Property and Equipment

Property and equipment consisted of the following:


	December 31,
	2012			2011
	(in thousands)
Computer equipment	$	394		$	490
Computer software		98			419
Office equipment and furniture		500			284
Leasehold improvements		—			304
Capital lease equipment		231			201
Laboratory equipment		1,603			1,520

Total		2,826			3,218
Less accumulated depreciation and amortization		(1,789	)		(2,479	)

Property and equipment, net	$	1,037		$	739

Our property and equipment have lives that range from three to ten years. For the years ended December 31, 2012, 2011 and 2010, depreciation expense was $320,000, $435,000 and $472,000, respectively.

Accrued Expenses

Accrued expenses consisted of the following:


	December 31,
	2012		2011
	(in thousands)
Clinical trials	$	1,842	$	3,532
Contract research		1,447		694
Deferred rent		959		28
Employee compensation		458		364
Other accruals		1,010		722

Accrued expenses	$	5,716	$	5,340

Accumulated Other Comprehensive Loss

Comprehensive loss is comprised of net loss and certain changes in equity that are excluded from net loss. Our only component of other comprehensive loss is unrealized gains (losses) on available-for-sale securities. There was no accumulated other comprehensive loss as of December 31, 2012 as we sold the underlying available-for-sale securities in May 2010.

Notes Payable

12 Months Ended

Dec. 31, 2012

Notes Payable

Note 6—Notes Payable

Loan and Security Agreement

In October 2010, we entered into a loan and security agreement, or the Loan Agreement, with Oxford Finance LLC, or Oxford, pursuant to which Oxford agreed to lend us up to $20.0 million in two tranches of $10.0 million each. We borrowed the first tranche in October 2010, or Tranche 1, and the second tranche in March 2011, or Tranche 2. In December 2012, we entered into an amendment to the Loan Agreement, or the Amendment, pursuant to which we borrowed an additional $7.2 million, or Tranche 3, and amended the repayment terms of the existing outstanding indebtedness under Tranche 1 and Tranche 2. The Amendment provides for interest-only payments on Tranche 1, Tranche 2 and Tranche 3 through December 31, 2013. Beginning on January 1, 2014, payments of principal and interest are payable for 36 months, in arrears. All unpaid principal and accrued and unpaid interest are due and payable on the maturity date, December 1, 2016. Our total outstanding principal to Oxford was $20.0 million as of December 31, 2012. Interest on the outstanding $20.0 million accrues at an annual fixed rate of 9.25%. We are using the proceeds from Tranche 3 for working capital and general business purposes.

Prior to the Amendment, upon borrowing Tranche 1 and Tranche 2, we recorded discounts on the loans related to final payment fees of $500,000 and $400,000, respectively, and we capitalized debt issuance costs in other assets of $169,000 and $58,000, respectively. Both the discount and the debt issuance costs were amortized to interest expense using the effective-interest method over the repayment term of the initial loan amount. In connection with the Amendment, we paid $588,000 for the prorated portion of the final payments due under Tranche 1 and Tranche 2 with no further obligation for the remaining portion. We accounted for the Amendment as a debt modification rather than an extinguishment of debt. Accordingly, the remaining unamortized costs associated with the original debt will be amortized to interest expense using the effective-interest method over the amended repayment term.

In connection with the Amendment, we agreed to pay Oxford a final payment fee equal to 7.0% of the borrowed $20.0 million, or $1.4 million, which we recorded as a discount on the outstanding debt. We also capitalized in other assets $168,000 in debt issuance costs that we incurred. Both of these amounts are being amortized to interest expense using the effective-interest method over the amended repayment term. As of December 31, 2012, unamortized discount and debt issuance costs associated with the modified debt was $1.4 million and $168,000, respectively.

We may prepay the outstanding principal balance in its entirety, plus accrued and unpaid interest, at any time upon delivery of prior notice to Oxford and the payment of a prepayment fee equal to 1.0% of the then-outstanding principal amount, which prepayment fee would be waived if we refinance the indebtedness with Oxford. As security for its obligations under the Loan Agreement, we granted Oxford a security interest in substantially all of our assets, excluding intellectual property. The Loan Agreement contains customary affirmative and negative covenants, including covenants that limit or restrict our ability to, among other things, incur indebtedness, grant liens, merge or consolidate, dispose of assets, make investments, make acquisitions, enter into certain transactions with affiliates, pay dividends or make distributions, or repurchase stock, in each case subject to customary exceptions for a loan agreement of this size and type.

The Loan Agreement includes customary events of default that include, among other things, non-payment, inaccuracy of representations and warranties, covenant breach, occurrence of a material adverse effect, or MAE, cross default to material indebtedness, bankruptcy or insolvency, material judgment defaults, and a change of control. The occurrence of an event of default could result in the acceleration of our indebtedness to Oxford. Under certain circumstances, a default interest rate will apply on all obligations during the existence of an event of default under the Loan Agreement at a per annum rate equal to 5.0% above the otherwise applicable interest rate.

MAE is defined in the Loan Agreement as a material adverse effect upon (i) the business operations, properties, assets, results of operations or financial condition of Omeros, taken as a whole with respect to our viability, that reasonably would be expected to result in our inability to repay any portion of the loans in accordance with the terms of the Loan Agreement, (ii) the validity, perfection, value or priority of Oxford’s security interest in the collateral, (iii) the enforceability of any material provision of the Loan Agreement or related agreements or (iv) the ability of Oxford to enforce its rights and remedies under the Loan Agreement or related agreements. We considered the MAE definition and believe that the MAE clause has not been triggered as of December 31, 2012.

Equipment Financing

We have capital leases for copier equipment, which have lease terms of 60 months. Equipment related to these capital leases of $231,000 and $201,000 is included in our property, plant and equipment as of December 31, 2012 and 2011, respectively. At December 31, 2012 and 2011, this equipment had a net book value of $132,000 and $144,000, respectively, which included $99,000 and $57,000 of accumulated depreciation, respectively.

Future Principal Payments

Future principal payments as of December 31, 2012 under the Loan Agreement and our copier leases, based on stated contractual maturities, are as follows:


Year Ending December 31,	Total
	(in thousands)
2013	$	47
2014		6,116
2015		6,683
2016		7,295
2017		5

Total principal payments	$	20,146

The principal payments reflected in the table above exclude the remaining unamortized balance of the debt discount and include the short-term portion of the principal payments on our copier leases, which are included in accrued liabilities in the accompanying balance sheet.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

Revenue

12 Months Ended

Dec. 31, 2012

Revenue

Note 7—Revenue

We have received Small Business Innovative Research, or SBIR, grants from the National Institutes of Health, or NIH, which are used to support the research and development of our products. We recorded revenue related to these grants of $721,000, $266,000 and $876,000, for the years ended December 31, 2012, 2011 and 2010, respectively. As of December 31, 2012, $1.8 million remained available under these grants.

In December 2006, we entered into a funding agreement with The Stanley Medical Research Institute, or SMRI, to develop a proprietary phosphodiesterase 10, or PDE10, inhibitor product for the treatment of schizophrenia. We hold the exclusive rights to the technology. In consideration for SMRI’s grant funding, we will become obligated to pay SMRI royalties based on net income, as defined under the agreement, from commercial sales of a PDE10 inhibitor product, not to exceed a set multiple of total grant funding received. If a PDE10 inhibitor product does not reach commercialization, we are not required to repay the grant funds. Through December 31, 2012, we have received a total of $5.7 million from SMRI in the form of grant and equity funding. As of December 31, 2012, all amounts pertaining to this agreement previously recorded as deferred revenue in the accompanying balance sheet have been recognized as revenue. We recognized revenue under the SMRI funding agreement of $0, $227,000 and $475,000, for the years ending December 31, 2012, 2011, and 2010, respectively. See additional discussion of the SMRI agreement under Note 8.

In October 2010, we entered into a platform development funding agreement with Vulcan pursuant to which we received $20.0 million for our GPCR program. Of the funds received from Vulcan, we recorded $10.8 million as a reduction of the cost of the intellectual property assets we purchased from Patobios Limited, or Patobios, $994,000 was recorded in equity for the fair value of warrants issued to Vulcan, and the remaining $8.2 million was recorded as deferred revenue. The deferred revenue balance is being recognized as revenue or as a reduction to the costs of assets purchased in direct proportion to the related GPCR expenses as they are incurred. Also in October 2010, we entered into an agreement with LSDF under which we received a $5.0 million grant award from LSDF that was paid to reimburse us for expenses we incurred and equipment purchases related to our GPCR program. For the years ended December 31, 2012, 2011 and 2010, we have recorded reductions to the Vulcan deferred revenue balance of $4.7 million, $2.0 million and $484,000 respectively, which includes $4.7 million, $2.0 million and $468,000 recognized as revenue and $60,000, $38,000 and $16,000 recorded as cost reductions to assets, respectively. As of December 31, 2012, $970,000 in deferred revenue pertaining to the Vulcan agreement was recorded in the accompanying balance sheet. We recognized all remaining revenue under the LSDF agreement during the first quarter of 2012. For the years ended December 31, 2012, 2011 and 2010, respectively, we recognized revenue of $624,000, $2.0 million, and $212,000 and have recorded cost reductions to assets of $0, $1.7 million and $494,000. See additional discussion of the Vulcan and LSDF agreements under Note 8.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies

Note 8—Commitments and Contingencies

In connection with the funding agreement with SMRI, beginning the first calendar year after commercial sales of a schizophrenia product, if and when a product is commercialized, we may become obligated to pay royalties based on net income, as defined in the agreement, not to exceed a set multiple of total grant funding received. Based on the amount of grant funding received as of December 31, 2012, the maximum amount of royalties payable by us is $12.8 million. We have not paid any such royalties through December 31, 2012.

In February 2009, we entered into a patent assignment agreement with an individual whereby we acquired all intellectual property rights, including patent applications, related to peroxisome proliferators activated receptor gamma, or PPARg, agonists for the treatment and prevention of addictions to substances of abuse, as well as other compulsive behaviors. No payments were made related to the technology acquisition. In February 2011, we amended the patent assignment agreement to include all intellectual property rights, including patent applications, related to dietary supplements that increase PPARg activity. Under the agreement, we will be required to make payments of up to $3.8 million in total, for both PPARg agonists and dietary supplements that increase PPARg activity, to the individual upon achievement of certain development events, such as the initiation of clinical trials and receipt of marketing approval. In addition, we are obligated to pay a low single-digit percentage royalty on any net sales of drug products that are covered by any patents that issue from the acquired patent application.

In March 2010, we entered into a license agreement with Daiichi Sankyo Co., Ltd. (successor-in-interest to Asubio Pharma Co., Ltd.), or Daiichi Sankyo, pursuant to which we received an exclusive license to phosphodiesterase 7, or PDE7, inhibitors claimed in certain patents and pending patent applications owned by Daiichi Sankyo for use in the treatment of movement disorders and other specified indications. In February 2011, we amended the agreement to include addiction and compulsive disorders in the field of use. In January 2013, we amended the agreement to include all other indications except specified dermatologic conditions. Upon execution of the agreement, we made a one-time payment to Daiichi Sankyo of $50,000 that was recognized as research and development expense. Under the amended agreement, we agreed to make milestone payments to Daiichi Sankyo of up to $33.5 million upon the achievement of certain events, such as successful completion of preclinical toxicology studies; dosing of human subjects in Phase 1, 2 and 3 clinical trials; receipt of marketing approval of a PDE7 inhibitor product; and reaching specified sales milestones. In addition, Daiichi Sankyo is entitled to receive from us a low single-digit percentage royalty of any net sales of a PDE7 inhibitor licensed under the agreement by us and/or our sublicensee(s), provided that if the sales are made by a sublicensee, then the amount payable by us to Daiichi Sankyo is capped at an amount equal to a low double-digit percentage of all royalty and specified milestone payments that we receive from the sublicensee.

In April 2010, we entered into an exclusive license agreement with Helion Biotech ApS, or Helion, pursuant to which we received a royalty bearing, worldwide exclusive license in and to all of Helion’s intellectual property rights related to mannan-binding lectin-associated serine protease-2, or MASP-2, antibodies, polypeptides and methods in the field of inhibition of mannan-binding lectin-mediated activation of the complement system for the prevention, treatment or diagnosis of any disease or condition. Upon execution of the agreement, we made a one-time payment to Helion of $500,000 that was recognized as research and development expense and agreed to make development and sales milestone payments to Helion of up to an additional $6.9 million upon the achievement of certain events, such as the filing of an Investigational New Drug application with the U.S. Food and Drug Administration; initiation of Phase 2 and 3 clinical trials; receipt of marketing approval; and reaching specified sales milestones. In addition, Helion is entitled to receive from us a low single-digit percentage royalty of any net sales of a MASP2 inhibitor product that is covered by the patents licensed by us under the agreement.

In connection with our funding agreements with Vulcan and LSDF discussed in Note 7, we have agreed to pay Vulcan and LSDF tiered percentages of the net proceeds, if any, derived from the GPCR program. The percentage rates of net proceeds payable to Vulcan and LSDF decrease as the cumulative net proceeds reach specified thresholds, and the blended percentage rate payable to Vulcan and LSDF in the aggregate is in the mid-teens with respect to the first approximately $1.5 billion of cumulative net proceeds that we receive from our GPCR program. If we receive cumulative net proceeds in excess of approximately $1.5 billion, the percentage rate payable to Vulcan and LSDF in the aggregate decreases to one percent. Pursuant to the agreement with Vulcan, at our option, we may pay a portion of Vulcan’s share of the one percent of net proceeds to a life sciences initiative, or LSI, to be established in accordance with the LSDF agreement. The LSI will be a non-profit, tax-exempt organization with a mission to advance life sciences in the State of Washington.

Net proceeds are defined in the Vulcan and LSDF agreements as (1) all consideration received by us in any form relating directly to the GPCR program, such as from license fees, milestone fees, royalties, product sales, partnerships and a transfer of the GPCR program to a third party, subject to exceptions specified in such agreements, less (2) all expenses and expenditures in excess of $25.0 million incurred by us in connection with the GPCR program such as for research and development, related overhead, milestone and royalty payments, legal expenses, cost of goods sold and product sales deductions. Any consideration that we receive (a) from government entities (subject to specified exceptions), (b) from third parties that have designated such consideration for the purpose of funding research and development expenses and related overhead or (c) in the form of grants, as well as any expenses or expenditures that we incur that are paid for with such consideration, are excluded for purposes of determining net proceeds.

In November 2010, pursuant to our agreement with Vulcan, we purchased from Patobios intellectual property assets related to an assay technology for use in the GPCR program. We also issued to Vulcan three warrants to purchase our common stock, each with a five-year term and exercisable for 133,333 shares, with exercise prices of $20, $30 and $40 per share, respectively. The exercise price of the warrants may be paid in cash or on a “cashless” basis in which the number of shares issuable upon exercise of the warrant would be reduced by the number of shares having a fair market value equal to the applicable exercise price. Under our agreement with Vulcan, we granted Vulcan a security interest in our personal property related to the GPCR program, other than intellectual property, which security interest is junior to any existing or future security interests granted in connection with a financing transaction and which will be released automatically after Vulcan receives $25.0 million under the agreement. We also agreed not to grant any liens on intellectual property related to the GPCR program. The term of our agreement with Vulcan is 35 years, provided that the term will automatically extend until the cumulative net proceeds that we receive from the GPCR program are approximately $1.5 billion.

Under our agreement with LSDF, after LSDF receives $25.0 million from us, any remaining amounts that would be payable by us to LSDF pursuant to the agreement will instead be paid to LSI. Our obligations with respect to LSI are limited to creating LSI’s charter documents, incorporating LSI, selecting directors and applying for tax exempt status, all in consultation with LSDF. We have no other obligations, funding or otherwise, to LSI. The term of our agreement with LSDF expires on the six-month anniversary following the last date that we deliver a report related to our incurrence of grant-funded expenses described in the agreement, provided that certain obligations will survive the expiration of the term. The term of our payment obligations to LSDF is the same as that under our agreement with Vulcan.

Effective October 26, 2012, Omeros Corporation, Gregory A. Demopulos, M.D., our chairman, chief executive officer, president and interim chief financial officer, and Richard J. Klein, our former chief financial officer and treasurer, entered into the Settlement Agreement settling and releasing all of the parties’ respective claims in the lawsuit described in Part II, Item 1 of our Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission on August 7, 2012. Under an order filed by the U.S. District Court for the Western District of Washington on November 5, 2012, all claims asserted by Omeros, Dr. Demopulos and Mr. Klein were dismissed with prejudice and all of Mr. Klein’s Qui Tam Claims were dismissed without prejudice to the United States Government.

In the Settlement Agreement, each of the parties affirmatively denies any wrongdoing or liability. In addition, the Settlement Agreement bars Mr. Klein and his attorneys from seeking any personal recovery or attorneys’ fees for the Qui Tam Claims. Under the terms of the Settlement Agreement, we made a one-time payment of $3.94 million to Mr. Klein to release all of his claims, which included a claim for payment of his attorneys’ fees since 2009 incurred in connection with the lawsuit. In 2012, we recorded $3.95 million as litigation settlement on the accompanying statements of operations and comprehensive loss.

Carolina Casualty Insurance Company, or CCIC, was the carrier for our directors, officers and corporate liability insurance policy in effect at the time Mr. Klein’s employment with us was terminated. On February 21, 2012, CCIC filed a complaint for a declaratory judgment against Omeros, Dr. Demopulos and Mr. Klein in the U.S. District Court for the Western District of Washington, seeking a declaration that CCIC owes no duty to indemnify or defend Omeros or Dr. Demopulos against the allegations raised by Mr. Klein. On May 10, 2012, Omeros and Dr. Demopulos filed counterclaims against CCIC alleging that CCIC breached its duty to defend under the insurance policy, acted unreasonably and in bad faith, and unreasonably denied a claim for coverage in violation of Washington law.

CCIC paid, in part, our defense costs associated with Mr. Klein’s lawsuit, subject to a reservation of rights, and we paid the remaining portion of the defense costs. Additionally, on November 19, 2012 CCIC reimbursed us $3.95 million for the $3.94 million payment we made to Mr. Klein under the terms of the Settlement Agreement as well as related employment taxes we paid of approximately $13,000. During the quarter ended December 31, 2012, we recorded $3.95 million as a recovery on settlement on the accompanying statements of operations and comprehensive loss. CCIC made this payment without waiving any of its rights, including a potential claim seeking recovery of the $3.95 million, and without affecting any of our or our chief executive officer’s counterclaims, including for failure to defend and bad faith, against CCIC in the pending lawsuit against CCIC. As of March 18, 2013, CCIC has not amended its complaint to seek such recovery, but may choose to do so in the future. We are vigorously defending the declaratory judgment action and pursuing our counterclaims, we will vigorously defend any attempt by CCIC to recover the $3.95 million, and we do not believe any such recovery attempt by CCIC would succeed. While we can provide no assurances regarding the outcome of the litigation with CCIC, we believe that CCIC is required under the insurance policy to defend and indemnify us in the Klein litigation, including for the $3.95 million in costs we incurred under the Settlement Agreement. In addition, while we can provide no assurances, we also believe that CCIC acted unreasonably and in bad faith, and unreasonably denied a claim for coverage in violation of Washington law. While the ultimate financial impact of this action cannot be determined with certainty, based on analysis, we believe that we will not be required to return the amounts paid by CCIC in November 2012. Therefore, no loss associated with the CCIC actions has been recorded in the financial statements as of December 31, 2012.

In January 2012, we entered into the Lease with BMR-201 Elliott Avenue LLC, or BMR, pursuant to which we lease 64,483 square feet of office and laboratory spaces in The Omeros Building. The initial term of the Lease is 15 years with two options to extend the lease term, each by five years. The lease term commenced in November 2012. The aggregate rent payable under the initial term of the Lease is approximately $51.1 million, with no annual base rent due during the first year. The Lease required us to provide the landlord with $563,000 as a security deposit, which is recorded as restricted cash on the accompanying balance sheet as of December 31, 2012. Additionally, on March 30, 2012 the landlord paid us a $3.0 million cash lease incentive and the landlord has agreed to reimburse us for up to $650,000 in expenses incurred by us in connection with the leased premises, of which we had incurred $602,000 as of December 31, 2012.

In November 2012, we entered into the First Amendment to the Lease, or the Amendment, pursuant to which we will lease an additional 13,363 square feet in The Omeros Building, or the Additional Premises. The lease term for the Additional Premises is expected to commence by May 2013 and will end in November 2027, coterminous with the term of the Lease. The aggregate rent payable under the initial term of the Amendment is approximately $10.6 million. The Amendment required us to pay an additional $117,000 as a security deposit.

In November 2012, we entered into the Second Amendment to the Lease, or the Second Amendment, pursuant to which we will lease an additional 5,177 square feet in The Omeros Building, or the Additional Vivarium Premises. The lease term for the Additional Vivarium Premises commenced in November 2012 and will end in November 2027, coterminous with the term of the Lease. The aggregate rent payable under the initial term of the Amendment is approximately $5.8 million. We are subleasing all of the Additional Vivarium Premises.

As of December 31, 2012, we recorded as deferred rent a net amount of $4.6 million related to the lease incentives and direct costs incurred in connection with consummating the Lease, as amended. The short-term and long-term portions of the deferred rent were recorded in accrued expenses and other non-current liabilities, respectively, and will be amortized over the initial term of the Lease.

In January 2012, in connection with the new lease agreement for The Omeros Building, we gave notice to the landlord of our prior corporate office space that we were terminating the lease for that space on January 30, 2013. In September 2012, we entered into an amendment of our lease with the landlord of our then-current corporate office space to provide for the termination of that lease on November 30, 2012. Additionally, as the lease for our lab facilities terminated on September 30, 2012, we incurred holdover penalties of $206,000, which were reimbursed to us by BMR as provided under the Lease, and recorded to deferred rent as a lease incentive.

Rent expense totaled $2.9 million, $2.2 million and $2.1 million for the years ended December 31, 2012, 2011 and 2010, respectively. Rental income received under subleases was $635,000, $693,000 and $793,000 for the years ended December 31, 2012, 2011 and 2010, respectively. Rental income is recorded as other income in the consolidated statements of operations and comprehensive loss.

We lease laboratory and corporate office space and rent equipment under operating lease agreements that include certain rent escalation terms. We sublease approximately 5,179 square feet of our leased properties. Future minimum payments related to the leases, which exclude common area maintenance and related operating expenses, at December 31, 2012, are as follows:


Year Ending December 31,	Lease Payments		Sublease Income		Net Lease Payments
	(in thousands)
2013		510		550		(40	)
2014		3,193		550		2,643
2015		3,936		550		3,386
2016		4,026		550		3,476
2017		4,119		480		3,639
Thereafter		45,928		—		45,928

Total	$	61,712	$	2,680	$	59,032

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

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-Paragraph 1

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-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2012

Shareholders' Equity

Note 9—Shareholders’ Equity

Common Stock

In December 2012, we entered into an at-the-market issuance sales agreement, or the Sales Agreement, with MLV pursuant to which we may issue and sell shares of our common stock having an aggregate offering price of up to $60.0 million directly on The NASDAQ Global Market or sales made to or through a market maker other than on an exchange. With our prior written consent, sales may also be made in negotiated transactions and/or any other method permitted by law. MLV will receive a 2% commission from the gross proceeds of any sales. Subject to the terms and conditions of the Sales Agreement, MLV will use its commercially reasonable efforts to sell the shares of our common stock from time to time, based upon our instructions (including any price, time or size limits or other parameters or conditions that we may impose). We are not obligated to make any sales of common stock under the Sales Agreement and no assurance can be given that we will sell any shares under the Sales Agreement, or, if we do, as to the price or amount of shares that we will sell, or the dates on which any such sales will take place. The Sales Agreement may be terminated by either party at any time upon 10 days’ notice to the other party, or by MLV at any time in certain circumstances, including the occurrence of a material adverse change in Omeros. In addition, the Sales Agreement will automatically terminate upon the sale of all common stock subject to the Sales Agreement. Any sales of shares of common stock pursuant to the Sales Agreement will be made under our previously filed and currently effective shelf registration statement on Form S-3 and the related prospectus supplement dated and filed on December 14, 2012.

In May 2011, we entered into a committed equity line financing facility with Azimuth pursuant to which we are permitted to sell up to $40.0 million of our shares of common stock over a 24-month term. This facility replaced a prior committed equity line financing facility with Azimuth. Under our agreement with Azimuth, we may, from time to time over the 24-month term and in our sole discretion, present Azimuth with draw down notices requiring Azimuth to purchase a specified dollar amount of shares of our common stock, based on the volume-weighted average price per share on each of 10 consecutive trading days, or the draw down period, with the total dollar amount of each draw down subject to certain agreed-upon limitations based on the market price of our common stock at the time of the draw down. The purchase price for these shares equals the daily volume-weighted average price of our common stock on each date during the draw down period on which shares are purchased, less a discount ranging from 3.00% to 6.00%, based on a minimum price that we specify. We are allowed to present Azimuth with up to 24 draw down notices during the 24-month term, with only one such draw down notice allowed per draw down period and a minimum of five trading days required between each draw down period. We may not issue more than 4,427,562 shares in connection with the committed equity line financing facility, although this limitation does not apply if the average purchase price of all shares issued to Azimuth, taking into account all discounts, equals or exceed $5.02 per share, which amount is subject to adjustment in certain circumstances specified in the facility. We have not drawn funds under this facility to date and it will expire on June 1, 2013 unless we and Azimuth mutually agree to extend it. Because the facility will expire on June 1, 2013, taking into account its limitations described above, we believe that the amount of committed proceeds that we could raise before June 1, 2013 would be significantly less than $40.0 million. We are unable to estimate the actual amount as it depends on the price of our stock at the time we use the facility.

In connection with this facility, we entered into a placement agent agreement with Reedland Capital Partners, an Institutional Division of Financial West Group, member FINRA/SIPC, or FWG/Reedland. We have agreed to pay FWG/Reedland, upon each sale of our common stock to Azimuth under the equity line financing facility, a fee equal to 0.5% of the aggregate dollar amount of common stock purchased by Azimuth.

As of December 31, 2012, we had reserved shares of common stock for the following purposes:


Options granted and outstanding			5,390,582
Options available for future grant			884,578
Common stock warrants			609,016

Total shares reserved			6,884,176

Public Offering

In July 2012, we completed a public offering pursuant to which we sold 3,365,854 shares of our common stock at a price of $10.25 per share. After deducting underwriting discounts and other offering expenses of $2.2 million, we received net proceeds from the transaction of $32.3 million.

Warrants

In October 2010, in connection with the Vulcan agreement, we issued to Vulcan three warrants to purchase our common stock, each exercisable for 133,333 shares, with exercise prices of $20, $30 and $40 per share, respectively. The exercise price of the warrants may be paid in cash or on a “cashless” basis in which the number of shares issuable upon exercise of the warrant would be reduced by the number of shares having a fair market value equal to the applicable exercise price. The warrants will expire on October 21, 2015. The fair value of the warrants included in equity was $994,000 determined using the Black-Scholes option-pricing model.

On March 28, 2012, we extended by one year the expiration dates of warrants to purchase up to an aggregate of 197,478 shares of our common stock at an exercise price of $12.25 per share. As a result of the extension, the expiration date of these warrants has been changed to March 29, 2013. We originally issued the warrants on March 29, 2007 to brokers who assisted us in connection with our Series E Preferred Stock financing. Pursuant to accounting guidance regarding equity-based compensation to non-employees, we evaluated the value of the warrants before and after the modification date to determine the incremental change in their fair value and recorded a change in fair value of $511,000 in other expense. As of December 31, 2012, 2011 and 2010 we had outstanding warrants to purchase 609,016 shares of common stock with weighted-average exercise prices of $23.85 per share.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(d),(e))

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-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

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-Subparagraph (SAB TOPIC 4.E)

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-Number 210

-Section 08

-Article 4

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-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section C

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-Name Accounting Research Bulletin (ARB)

-Number 43

-Section B

-Paragraph 7, 11A

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+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2012

Stock-Based Compensation

Note 10—Stock-Based Compensation

Stock Options

Our 2008 Equity Incentive Plan, or 2008 Plan, provides for the grant of incentive and nonstatutory stock options, restricted stock, stock appreciation rights, performance units and performance shares to employees, directors and consultants and subsidiary corporations’ employees and consultants. The 2008 Plan also allows any shares returned under our Amended and Restated 1998 Stock Option Plan, or 1998 Plan, as a result of cancellation of options or repurchase of shares issued pursuant to the 1998 Plan, to be issued under the 2008 Plan subject to a maximum limit of 3,084,848 shares. As of December 31, 2012 a total of 365,696 shares have been reserved under the 2008 Plan as a result of the cancellation of options or repurchase of shares under the 1998 Plan. In addition, the 2008 Plan provides for annual increases in the number of shares available for issuance thereunder on the first day of each fiscal year, beginning with the 2010 fiscal year, equal to the lesser of:

•

five percent of the outstanding shares of our common stock on the last day of the immediately preceding fiscal year;

•

1,785,714 shares; or

•

such other amount as our board of directors may determine.

On January 1, 2013 and 2012, in accordance with the 2008 Plan annual increase provisions, the authorized shares in the 2008 Plan increased by 1,294,874 and 1,121,511 shares, respectively. As of December 31, 2012, a total of 4,540,384 shares were reserved for issuance under the 2008 Plan. Options are granted with exercise prices equal to the closing fair market value of the common stock on the date of the grant. The terms of options may not exceed ten years. Generally, options vest over a four-year period, but may be granted with different vesting terms.

Compensation cost for stock options granted to employees is based on the grant-date fair value and is recognized over the vesting period of the applicable option on a straight-line basis. As stock-based compensation expense is based on options ultimately expected to vest, the expense has been reduced for estimated forfeitures. The fair value of each employee option grant was estimated on the date of grant using the Black-Scholes option- pricing model with the following assumptions during the years ended:


	December 31,
	2012			2011			2010
Estimated weighted-average fair value	$	7.35		$	3.31		$	4.34
Weighted-Average Assumptions
Expected volatility (A)		86	%		83	%		77	%
Expected term, in years (B)		5.77			5.73			6.08
Risk-free interest rate (C)		0.95	%		1.97	%		2.55	%
Expected dividend yield (D)		0	%		0	%		0	%

(A)

Expected Volatility. Because of our limited trading history, the expected volatility rate used to value stock option grants is based on volatilities of a peer group of similar companies whose share prices are publicly available. The peer group was developed based on companies in the pharmaceutical and biotechnology industry in a similar stage of development.

(B)	Expected Term. We elected to utilize the “simplified” method for “plain vanilla” options to determine the expected term of our stock option grants. Under this approach, the weighted-average expected life is presumed to be the average of the vesting term and the contractual term of the option.

(C)	Risk-free Interest Rate. The risk-free interest rate assumption was based on zero-coupon U.S. Treasury instruments that had terms consistent with the expected term of our stock option grants.

(D)	Expected Dividend Yield. We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future.

Stock-based compensation guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from estimates. We estimate forfeitures based on our historical experience; separate groups of employees that have similar historical forfeiture behavior are considered separately for expense recognition.

Stock options granted to non-employees are accounted for using the fair value approach. The fair value of non-employee option grants are estimated using the Black-Scholes option-pricing model and are re-measured over the vesting term as earned. The estimated fair value is charged to expense over the applicable service period. During the years ended December 31, 2012, 2011 and 2010, we granted to non-employees options to purchase 28,000, 15,000 and 9,600 shares of common stock, respectively.

Stock-Based Compensation Summary. Stock-based compensation expense includes amortization of stock options granted to employees and non-employees’ and has been reported in our consolidated statements of operations and comprehensive loss as follows:


	Year Ended December 31,
	2012		2011		2010
	(in thousands)
Research and development	$	2,191	$	819	$	971
Selling, general and administrative		2,090		1,108		1,207

Total	$	4,281	$	1,927	$	2,178

In connection with the non-employee options, we recognized expense of $64,000, $62,000 and $139,000 during the years ended December 31, 2012, 2011 and 2010, respectively.

Stock option activity and related information is as follows:


	Options Outstanding			Weighted- Average Exercise Price per Share		Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2011		3,006,567		$	3.32
Granted		2,561,100			7.36
Exercised		(101,395	)		3.64
Forfeited		(75,690	)		6.90

Balance at December 31, 2012		5,390,582		$	5.18		7.24	$	8,223

Vested and expected to vest at December 31, 2012		5,175,822		$	5.08		7.16	$	8,151

Exercisable at December 31, 2012		3,158,616		$	3.41		5.87	$	7,521

The total intrinsic value of options exercised during the years ended December 31, 2012, 2011, and 2010 was $578,000, $2.1 million and $1.4 million, respectively.

Information about stock options outstanding and exercisable is as follows:


	December 31, 2012
	Options Outstanding						Options Exercisable
Range of Exercise Price	Number of Options		Weighted- Average Remaining Contractual Life (Years)		Weighted- Average Exercise Price		Number of Options		Weighted- Average Exercise Price
$0.78-3.95		1,771,792		4.08	$	1.22		1,767,210	$	1.21
$4.10-$6.42		1,986,249		8.26		5.03		1,097,120		5.31
$7.29-10.19		497,956		8.80		7.89		113,486		7.89
$10.40-13.49		1,134,585		9.72		10.45		180,800		10.51

$0.78-13.49		5,390,582		7.24	$	5.18		3,158,616	$	3.41

At December 31, 2012 there were 2,231,966 unvested options outstanding that will vest over a weighted-average period of 2.8 years. Excluding non-employee stock options, the total estimated compensation expense to be recognized in connection with these shares is $10.1 million.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Name Staff Accounting Bulletin (SAB)

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-Name Statement of Position (SOP)

-Number 93-6

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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes

Note 11—Income Taxes

We have a history of losses and therefore have made no provision for income taxes. Deferred income taxes reflect the tax effect of net operating loss and tax credit carryforwards and the net temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

Significant components of deferred tax assets are as follows:


	December 31,
	2012			2011
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	59,124		$	48,901
Deferred revenue		—			14
Stock-based compensation		2,183			1,306
Research and development tax credits		3,775			3,560
Investment in Partnership		1,389			547
Other		1,804			303

		68,275			54,631
Less valuation allowance		(68,275	)		(54,631	)

Net deferred tax assets	$	—		$	—

As of December 31, 2012 and 2011, we had net operating loss carryforwards of approximately $173.9 million and $143.8 million, respectively, and research and development tax credit carryforwards of approximately $3.8 million and $3.6 million, respectively. Unless previously utilized, our net operating loss and research and development tax credit carryforwards expire between 2013 and 2032.

In certain circumstances, due to ownership changes, the net operating loss and tax credit carryforwards may be subject to limitations under the Internal Revenue Code of 1986, as amended, or the Code. Our ability to utilize our net operating loss and tax credit carryforwards may be limited in the event that a change in ownership, as defined in Section 382 of the Code, has occurred or may occur in the future. Approximately $2.8 million of our net operating loss carryforwards relate to tax deductible stock-based compensation in excess of amounts recognized for financial statement purposes. To the extent that net operating loss carryforwards, if realized, relate to stock-based compensation, the resulting tax benefits will be recorded to shareholders’ equity, rather than to the results of operations.

We have established a 100% valuation allowance due to the uncertainty of our ability to generate sufficient taxable income to realize the deferred tax assets. Our valuation allowance increased $13.6 million, $9.5 million and $11.1 million in 2012, 2011 and 2010, respectively, primarily due to net operating losses incurred during these periods.

Deferred tax assets do not include research and development credits generated for the year ended December 31, 2012. The American Taxpayer Relief Act of 2012 was signed into law on January 3, 2013, which retroactively extended the research and development credit back to January 1, 2013. Accounting Standards Codification 740 requires the effect of tax legislation to be taken into account in the interim period in which the law was enacted. Therefore, the 2012 credits are not contained in the deferred tax assets for the 2012 period but will be included in the 2013 period.

A reconciliation of the Federal statutory tax rate of 34% to our effective income tax rate follows:


	December 31,
	2012			2011			2010
Statutory tax rate		(34	)%		(34	)%		(34	)%
Permanent difference		2			1			(1	)
Change in valuation allowance		35			33			27
Other		(3	)		—			8

Effective tax rate		—			—			—

We file income tax returns in the United States, which typically provides for a three-year statute of limitations on assessments. However, because of net operating loss carryforwards, substantially all of our tax years remain open to federal tax examination.

The guidance for accounting for uncertainties in income taxes requires that we recognize the financial statement effects of a tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. As a result of the implementation of this guidance, we identified certain adjustments to our research and development tax credit, which was accounted for as a reduction to the deferred tax assets. There have been no changes in unrecognized tax benefits for the years ended December 31, 2012, 2011 and 2010. Further, there were no unrecognized tax benefits that impacted our effective tax rate and accordingly, there was no material effect to our financial position, results of operations or cash flows.

Our policy is to recognize interest and penalties related to the underpayment of income taxes as a component of income tax expense. To date, there have been no interest or penalties charged to us in relation to the underpayment of income taxes.

We do not anticipate that our unrecognized tax benefits will significantly increase in the next 12 months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

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-Name Accounting Standards Codification

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-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

401(k) Retirement Plan	12 Months Ended
401(k) Retirement Plan	Dec. 31, 2012
401(k) Retirement Plan	Note 12—401(k) Retirement Plan We have adopted a 401(k) plan. To date, we have not matched employee contributions to the plan. All employees are eligible to participate, provided they meet the requirements of the plan.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7, 8

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-Name Statement of Financial Accounting Standard (FAS)

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-Name Implementation Guide (Q and A)

-Number FAS88

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 106

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-Publisher FASB

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-Number 132R

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-Publisher FASB

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-Number 132R

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-Number 132R

-Paragraph 8

-Subparagraph m

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-URI http://asc.fasb.org/topic&trid=2235017

+ Details

Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Information (Unaudited)

Note 13—Quarterly Information (Unaudited)

The following table summarizes the unaudited statements of operations and comprehensive loss for each quarter of 2012 and 2011 (in thousands, except per share amounts):


	March 31,			June 30,			September 30,			December 31,
	2012
Revenue	$	1,496		$	1,526		$	1,417		$	1,583
Total operating expenses		9,568			9,770			14,453			9,116
Loss from operations		(8,072	)		(8,244	)		(13,036	)		(7,533	)
Net loss		(8,895	)		(8,539	)		(13,276	)		(7,734	)
Basic and diluted net loss per share	$	(0.40	)	$	(0.38	)	$	(0.51	)	$	(0.30	)

	2011
Revenue	$	1,239		$	1,155		$	987		$	1,143
Total operating expenses		7,689			6,104			7,151			10,990
Loss from operations		(6,450	)		(4,949	)		(6,164	)		(9,847	)
Net loss		(6,542	)		(5,291	)		(6,512	)		(10,201	)
Basic and diluted net loss per share	$	(0.30	)	$	(0.24	)	$	(0.29	)	$	(0.46	)

Operating expenses for the three-month period ended September 30, 2012 includes $3.95 million related to our Settlement Agreement with Mr. Klein. In November 2012 CCIC reimbursed us the $3.95 million, which we recorded as a recovery on settlement in operating expenses for the three months ended December 31, 2012.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Organization and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2012
Organization	Organization We are a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system. Our most clinically advanced products are derived from our proprietary PharmacoSurgery™ platform designed to improve clinical outcomes of patients undergoing ophthalmological, arthroscopic, urological and other surgical and medical procedures. Our efforts are devoted to conducting research and development of our products, to developing our patent portfolio and to raising equity capital.
Basis of Presentation	Basis of Presentation Our consolidated financial statements include the financial position and results of operations of Omeros and nura, inc., or nura, our wholly owned subsidiary.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. We base our estimates on historical experience and on various other factors that we believe are reasonable under the circumstances; however, actual results could differ from those estimates.
Liquidity and Capital Resources	Liquidity and Capital Resources We believe that our existing cash, cash equivalents and short-term investments and available capital under our at-the-market sales agreement and our committed equity line financing facility will be sufficient to fund our anticipated operating expenses, capital expenditures and note payments for at least the next 12 months. Our assumptions include our ability to raise capital under our $60.0 million at-the-market sales agreement with MLV & Co. LLC, or MLV, and under our committed equity line financing facility with Azimuth Opportunity, Ltd., or Azimuth. Our Azimuth facility includes terms that limit the amount of committed proceeds we can raise in specified periods, which terms are described in Note 9. Because the Azimuth facility will expire on June 1, 2013, taking into account its limitations, we believe that the amount of committed proceeds that we could raise before June 1, 2013 would be significantly less than $40.0 million. We are unable to estimate the actual amount as it depends on the price of our stock at the time we use the facility. If we do not raise additional capital, we may be required to delay, reduce the scope of, or eliminate our research and development programs, reduce our planned commercialization efforts or obtain funds through arrangements with collaborators or others that may require us to relinquish rights to certain products that we might otherwise seek to develop or commercialize independently, or enter into corporate collaborations at an earlier stage of development than we might otherwise choose. We expect our continuing operating losses to result in an increasing total amount of cash used in operations over the next several years. To meet our future capital requirements, we will need to finance our future cash needs through public or private equity offerings, debt financings or corporate collaboration and licensing arrangements. Except for our committed equity line financing facility with Azimuth which expires on June 1, 2013, we currently do not have any commitments for future external equity or debt funding. Additional equity or debt financing or corporate collaboration and licensing arrangements may not be available on acceptable terms, if at all. In addition, any future equity funding will dilute the ownership of our equity investors.
Financial Instruments and Concentrations of Credit Risk	Financial Instruments and Concentrations of Credit Risk Cash and cash equivalents, grant and other receivables, accounts payable, and accrued liabilities, which are recorded at cost, approximate fair value based on the short-term nature of these financial instruments. The fair value of short-term investments is based on quoted market prices. Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. Cash and cash equivalents are held by financial institutions and are federally insured up to certain limits. At times, our cash and cash equivalents balance exceeds the federally insured limits. To limit the credit risk, we invest our excess cash primarily in high quality securities such as money market mutual funds, certificates of deposit, and commercial paper.
Cash and Cash Equivalents, Short-Term Investments, and Restricted Cash	Cash and Cash Equivalents, Short-Term Investments, and Restricted Cash Cash and cash equivalents include highly liquid investments with a maturity of three months or less on the date of purchase. Short-term investment securities are classified as available-for-sale and are carried at fair value. Unrealized gains and losses are reported as a separate component of shareholders’ deficit, if necessary. Amortization, accretion, interest and dividends, realized gains and losses, and declines in value judged to be other-than-temporary are included in investment income. The cost of securities sold is based on the specific-identification method. Investments in securities with maturities of less than one year, or those for which management intends to use the investments to fund current operations, are included in current assets. We evaluate whether an investment is other-than-temporarily impaired. This evaluation is dependent on the specific facts and circumstances. Factors that are considered in determining whether an other-than-temporary decline in value has occurred include: the market value of the security in relation to its cost basis; the financial condition of the investee; and the intent and ability to retain the investment for a sufficient period of time to allow for recovery in the market value of the investment. Restricted cash consists of cash equivalents, the use of which is restricted and serves as collateral securing a letter of credit under a facility operating lease.
Property and Equipment	Property and Equipment Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful life of the assets, which is generally three to ten years. Equipment financed under capital leases are amortized over the shorter of the useful lives of the related assets or the lease term.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The carrying amount of long-lived assets, including property and equipment, are reviewed whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of these assets is measured by comparing the carrying value to future undiscounted cash flows that the asset is expected to generate. If the asset is considered to be impaired, the amount of any impairment will be reflected in the result of operations in the period of impairment. We have not recognized any impairment losses.
Deferred Rent	Deferred Rent We recognize rent expense on a straight-line basis over the noncancelable term of our operating leases and, accordingly, record the difference between cash rent payments and the recognition of rent expense as a deferred rent liability. We also record landlord-funded lease incentives, such as reimbursable leasehold improvements, as a deferred rent liability which is amortized as a reduction of rent expense over the noncancelable terms of our operating leases.
Revenue Recognition	Revenue Recognition Revenue is recognized when there is persuasive evidence that an arrangement exists, service has been provided, the price is fixed or determinable, and collection is reasonably assured. Our revenue relates to grant funding from third parties and revenue recognized in connection with funding from Vulcan Inc. and its affiliate, which we refer to collectively as Vulcan, and the Life Sciences Discovery Fund Authority, a granting agency of the State of Washington, or LSDF, for our G protein-coupled receptor, or GPCR, program. We recognize such funds as revenue when the related qualifying research and development expenses are incurred up to the limit of the approved funding amounts. Funds received in advance of services being provided are recorded as deferred revenue and recognized as revenue as research is performed.
Research and Development	Research and Development Research and development costs are comprised primarily of costs for personnel, including salaries and benefits; occupancy; clinical studies performed by third parties; materials and supplies to support our clinical programs; contracted research; manufacturing; related consulting arrangements; and other expenses incurred to sustain our overall research and development programs. Research and development expenses are expensed as incurred. Nonrefundable advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are then recognized as an expense as the related goods are delivered or the services are performed, or when the goods or services are no longer expected to be provided.
Patents	Patents We generally apply for patent protection on processes and products. Patent application costs are expensed as incurred as a component of general and administrative expense, as recoverability of such expenditures is uncertain.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases. Deferred tax assets and liabilities are measured using enacted tax rates applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is established when it is not more likely than not that the deferred tax assets will be realized.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense is recognized for all share-based payments made to employees and directors based on estimated fair values. We use the straight-line method to allocate compensation cost to reporting periods over the optionees’ requisite service period, which is generally the vesting period. Stock options granted to non-employees are accounted for using the fair value approach and are subject to periodic revaluation over their vesting terms. The fair value of our stock options is calculated using the Black-Scholes option-pricing model. The Black-Scholes model requires judgmental assumptions including volatility, forfeiture rates and expected option life. If any of the assumptions used in the Black-Scholes model change significantly, stock-based compensation expense for new awards may differ materially from that recorded for existing awards.
Segments	Segments We operate in one segment. Management uses cash flow as the primary measure to manage our business and does not segment our business for internal reporting or decision-making.
Adoption of Standards	Adoption of Standards In June 2011, the Financial Accounting Standards Board issued an Accounting Standards Update, or ASU, related to the presentation of comprehensive income that requires companies to present the components of net income and other comprehensive income either as one continuous statement or as two consecutive statements. It eliminated the option to present components of other comprehensive income as part of the statement of changes in shareholders’ equity. The standard does not change the items that must be reported in other comprehensive income, how such items are measured or when they must be reclassified to net income. This standard, which must be applied retroactively, was effective for interim and annual periods beginning after December 15, 2011. We adopted the standards on January 1, 2012 and now present a combined statement of operations and comprehensive loss in our accompanying financial statements.

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2012

Calculation of Historical Outstanding Dilutive Securities Not Included in Diluted Loss per Share

Historical outstanding dilutive securities not included in the diluted loss per share calculation are as follows:


	Year Ended December 31,
	2012		2011		2010
Outstanding options to purchase common stock		5,269,353		3,006,567		3,589,292
Warrants to purchase common stock		609,016		609,016		609,016

Total		5,878,369		3,615,583		4,198,308

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis are as follows:


	December 31, 2012
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Money market mutual funds classified as cash equivalents	$	21	$	—	$	—	$	21
Money-market mutual funds classified as current restricted cash		193		—		—		193
Money market mutual funds classified as non-current restricted cash		679		—		—		679
Money-market mutual funds classified as short-term investments		20,830		—		—		20,830

Total	$	21,723	$	—	$	—	$	21,723


	December 31, 2011
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Money market mutual funds classified as cash equivalents	$	2,394	$	—	$	—	$	2,394
Money market mutual funds classified as current restricted cash		193		—		—		193
Money-market mutual funds classified as short-term investments		20,565		—		—		20,565

Total	$	23,152	$	—	$	—	$	23,152

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References+ Details

Certain Balance Sheet Accounts (Tables)

12 Months Ended

Dec. 31, 2012

Grant and Other Receivables

Grant and other receivables consisted of the following:


	December 31,
	2012		2011
	(in thousands)
Grant and GPCR funding receivables	$	402	$	862
Lease incentives receivable		1,488		—
Other receivables		44		14

Grant and other receivables	$	1,934	$	876

Property and Equipment

Property and equipment consisted of the following:


	December 31,
	2012			2011
	(in thousands)
Computer equipment	$	394		$	490
Computer software		98			419
Office equipment and furniture		500			284
Leasehold improvements		—			304
Capital lease equipment		231			201
Laboratory equipment		1,603			1,520

Total		2,826			3,218
Less accumulated depreciation and amortization		(1,789	)		(2,479	)

Property and equipment, net	$	1,037		$	739

Accrued Expenses

Accrued expenses consisted of the following:


	December 31,
	2012		2011
	(in thousands)
Clinical trials	$	1,842	$	3,532
Contract research		1,447		694
Deferred rent		959		28
Employee compensation		458		364
Other accruals		1,010		722

Accrued expenses	$	5,716	$	5,340

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2012

Future Minimum Payments Related Operating Lease

Future minimum payments related to the leases, which exclude common area maintenance and related operating expenses, at December 31, 2012, are as follows:


Year Ending December 31,	Lease Payments		Sublease Income		Net Lease Payments
	(in thousands)
2013		510		550		(40	)
2014		3,193		550		2,643
2015		3,936		550		3,386
2016		4,026		550		3,476
2017		4,119		480		3,639
Thereafter		45,928		—		45,928

Total	$	61,712	$	2,680	$	59,032

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Weighted Average Assumptions For Employee Stock Option Grants

The fair value of each employee option grant was estimated on the date of grant using the Black-Scholes option- pricing model with the following assumptions during the years ended:


	December 31,
	2012			2011			2010
Estimated weighted-average fair value	$	7.35		$	3.31		$	4.34
Weighted-Average Assumptions
Expected volatility (A)		86	%		83	%		77	%
Expected term, in years (B)		5.77			5.73			6.08
Risk-free interest rate (C)		0.95	%		1.97	%		2.55	%
Expected dividend yield (D)		0	%		0	%		0	%

(A)

(B)	Expected Term. We elected to utilize the “simplified” method for “plain vanilla” options to determine the expected term of our stock option grants. Under this approach, the weighted-average expected life is presumed to be the average of the vesting term and the contractual term of the option.

(C)	Risk-free Interest Rate. The risk-free interest rate assumption was based on zero-coupon U.S. Treasury instruments that had terms consistent with the expected term of our stock option grants.

(D)	Expected Dividend Yield. We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future.

Stock-Based Compensation Expense

Stock-based compensation expense includes amortization of stock options granted to employees and non-employees’ and has been reported in our consolidated statements of operations and comprehensive loss as follows:


	Year Ended December 31,
	2012		2011		2010
	(in thousands)
Research and development	$	2,191	$	819	$	971
Selling, general and administrative		2,090		1,108		1,207

Total	$	4,281	$	1,927	$	2,178

Stock Option Activity and Related Information

Stock option activity and related information is as follows:


	Options Outstanding			Weighted- Average Exercise Price per Share		Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2011		3,006,567		$	3.32
Granted		2,561,100			7.36
Exercised		(101,395	)		3.64
Forfeited		(75,690	)		6.90

Balance at December 31, 2012		5,390,582		$	5.18		7.24	$	8,223

Vested and expected to vest at December 31, 2012		5,175,822		$	5.08		7.16	$	8,151

Exercisable at December 31, 2012		3,158,616		$	3.41		5.87	$	7,521

Stock Options Outstanding and Exercisable

Information about stock options outstanding and exercisable is as follows:


	December 31, 2012
	Options Outstanding						Options Exercisable
Range of Exercise Price	Number of Options		Weighted- Average Remaining Contractual Life (Years)		Weighted- Average Exercise Price		Number of Options		Weighted- Average Exercise Price
$0.78-3.95		1,771,792		4.08	$	1.22		1,767,210	$	1.21
$4.10-$6.42		1,986,249		8.26		5.03		1,097,120		5.31
$7.29-10.19		497,956		8.80		7.89		113,486		7.89
$10.40-13.49		1,134,585		9.72		10.45		180,800		10.51

$0.78-13.49		5,390,582		7.24	$	5.18		3,158,616	$	3.41

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References+ Details

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Significant Components of Deferred Tax Assets

Significant components of deferred tax assets are as follows:


	December 31,
	2012			2011
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	59,124		$	48,901
Deferred revenue		—			14
Stock-based compensation		2,183			1,306
Research and development tax credits		3,775			3,560
Investment in Partnership		1,389			547
Other		1,804			303

		68,275			54,631
Less valuation allowance		(68,275	)		(54,631	)

Net deferred tax assets	$	—		$	—

Reconciliation of Federal Statutory Tax Rate to Effective Income Tax

A reconciliation of the Federal statutory tax rate of 34% to our effective income tax rate follows:


	December 31,
	2012			2011			2010
Statutory tax rate		(34	)%		(34	)%		(34	)%
Permanent difference		2			1			(1	)
Change in valuation allowance		35			33			27
Other		(3	)		—			8

Effective tax rate		—			—			—

Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Unaudited Statements of Operations

The following table summarizes the unaudited statements of operations and comprehensive loss for each quarter of 2012 and 2011 (in thousands, except per share amounts):


	March 31,			June 30,			September 30,			December 31,
	2012
Revenue	$	1,496		$	1,526		$	1,417		$	1,583
Total operating expenses		9,568			9,770			14,453			9,116
Loss from operations		(8,072	)		(8,244	)		(13,036	)		(7,533	)
Net loss		(8,895	)		(8,539	)		(13,276	)		(7,734	)
Basic and diluted net loss per share	$	(0.40	)	$	(0.38	)	$	(0.51	)	$	(0.30	)

	2011
Revenue	$	1,239		$	1,155		$	987		$	1,143
Total operating expenses		7,689			6,104			7,151			10,990
Loss from operations		(6,450	)		(4,949	)		(6,164	)		(9,847	)
Net loss		(6,542	)		(5,291	)		(6,512	)		(10,201	)
Basic and diluted net loss per share	$	(0.30	)	$	(0.24	)	$	(0.29	)	$	(0.46	)

Organization and Significant Accounting Policies - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012 Segment
Significant Accounting Policies [Line Items]
Number of Operating Segments	1
Minimum
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	3 years
Maximum
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful lives	10 years
Equipment
Significant Accounting Policies [Line Items]
Estimated useful life description	Equipment financed under capital leases are amortized over the shorter of the useful lives of the related assets or the lease term.
Equity Line Financing Facility
Significant Accounting Policies [Line Items]
Maximum potential value of stock issuance under equity line financing facility	$ 40.0
At-the-market Sales Agreement
Significant Accounting Policies [Line Items]
Maximum potential value from stock issuance under at-the-market sales agreement	$ 60.0

Net Loss Per Share - Additional Information (Detail) (Public Offering)	1 Months Ended	3 Months Ended
	Jul. 31, 2012	Sep. 30, 2012
Public Offering
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common shares issued	3,365,854	3,365,854

- Definition

Number of new stock issued during the period.

+ References+ Details

Calculation of Historical Outstanding Dilutive Securities Not Included in Diluted Loss Per Share (Detail)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding dilutive securities not included in diluted loss per share calculation	5,878,369	3,615,583	4,198,308
Outstanding options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding dilutive securities not included in diluted loss per share calculation	5,269,353	3,006,567	3,589,292
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding dilutive securities not included in diluted loss per share calculation	609,016	609,016	609,016

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Antidilution

-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Diluted Earnings Per Share

-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Contingent Stock Agreement

-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 13, 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 171

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Fair Value, Measurements, Recurring, USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total	$ 21,723	$ 23,152
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market mutual funds classified as cash equivalents	21	2,394
Money-market mutual funds classified as short-term investments	20,830	20,565
Current
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market mutual funds classified as restricted cash	193	193
Non Current
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market mutual funds classified as restricted cash	679
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total	21,723	23,152
Fair Value, Inputs, Level 1 \| Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market mutual funds classified as cash equivalents	21	2,394
Money-market mutual funds classified as short-term investments	20,830	20,565
Fair Value, Inputs, Level 1 \| Current
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market mutual funds classified as restricted cash	193	193
Fair Value, Inputs, Level 1 \| Non Current
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market mutual funds classified as restricted cash	$ 679

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

+ References+ Details

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Company may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months.

+ References+ Details

Fair value Measurement - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash excluded from fair value hierarchy disclosure	$ 1.5	$ 1.6

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References+ Details

Grant and Other Receivables (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Accounts and Other Receivables [Line Items]
Grant and GPCR funding receivables	$ 402	$ 862
Lease incentives receivable	1,488
Other receivables	44	14
Grant and other receivables	$ 1,934	$ 876

- Definition

This item represents the current receivable for an incentive or inducement contractually stipulated between parties to a lease whereby the lessor has committed to provide the entity (lessee) with a cash payment as inducement to enter the lease. The receivable is due within one year. For classified balance sheets, this element represents the current amount receivable, that is amounts expected to be collected within one year or the normal operating cycle, if longer.

+ References+ Details

Property and Equipment (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Property, Plant and Equipment [Line Items]
Computer equipment	$ 394	$ 490
Computer software	98	419
Office equipment and furniture	500	284
Leasehold improvements		304
Capital lease equipment	231	201
Laboratory equipment	1,603	1,520
Total	2,826	3,218
Less accumulated depreciation and amortization	(1,789)	(2,479)
Property and equipment, net	$ 1,037	$ 739

Certain Balance Sheet Accounts - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 320,000	$ 435,000	$ 472,000
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	10 years

- Definition

The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.

+ References+ Details

Accrued Expenses (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Schedule of Accrued Liabilities [Line Items]
Clinical trials	$ 1,842	$ 3,532
Contract research	1,447	694
Deferred rent	959	28
Employee compensation	458	364
Other accruals	1,010	722
Accrued expenses	$ 5,716	$ 5,340

- Definition

For a classified balance sheet, the cumulative difference as of the balance sheet date between the payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, within one year of the balance sheet date.

+ References+ Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

Notes Payable - Additional Information (Detail) (USD $)	12 Months Ended			12 Months Ended	1 Months Ended
Notes Payable - Additional Information (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Oct. 31, 2010	Dec. 31, 2012 Amended Agreement	Oct. 31, 2010 Tranche 1	Mar. 31, 2011 Tranche 2	Dec. 31, 2012 Tranche 3
Debt Instrument [Line Items]
Loan and security agreement amount			$ 20,000,000		$ 10,000,000	$ 10,000,000	$ 7,200,000
Number of tranches			2
Loan and security agreement, existing outstanding indebtedness	20,000,000
Accrued interest rate	9.25%
Final payment fee, amount	1,400,000				500,000	400,000
Debt issuance costs					169,000	58,000
Loan and security agreement, payment of final fee	588,000
Final payment fee, percentage of amount borrowed				7.00%
Unamortized balance of debt issuance costs	168,000			168,000
Unamortized balance of debt discount	1,400,000
Prepayment fee as percentage of outstanding principal amount				1.00%
Additional default interest rate				5.00%
Capital lease for copier equipment, lease term	60 months	60 months
Capital lease for copier equipment, principal lease obligation amount	231,000	201,000
Equipment under capital lease, net book value	132,000	144,000
Capital lease, accumulated depreciation	$ 99,000	$ 57,000

Future Minimum Principal Payments Under Notes and Capital Leases (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012
Future Minimum Payments Under Notes and Capital Leases [Line Items]
Notes payable future minimum payments,2013	$ 47
Notes payable future minimum payments,2014	6,116
Notes payable future minimum payments,2015	6,683
Notes payable future minimum payments,2016	7,295
Notes payable future minimum payments,2017	5
Total principal payments	$ 20,146

Revenue - Additional Information (Detail) (USD $)	12 Months Ended									73 Months Ended	1 Months Ended	12 Months Ended
Revenue - Additional Information (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012 Small Business Innovative Research	Dec. 31, 2011 Small Business Innovative Research	Dec. 31, 2010 Small Business Innovative Research	Dec. 31, 2012 Stanley Medical Research Institute	Dec. 31, 2011 Stanley Medical Research Institute	Dec. 31, 2010 Stanley Medical Research Institute	Dec. 31, 2012 Stanley Medical Research Institute	Oct. 31, 2010 Vulcan Incorporated	Dec. 31, 2012 Vulcan Incorporated	Dec. 31, 2011 Vulcan Incorporated	Dec. 31, 2010 Vulcan Incorporated	Dec. 31, 2012 Life Sciences Discovery Fund Authority	Dec. 31, 2011 Life Sciences Discovery Fund Authority	Dec. 31, 2010 Life Sciences Discovery Fund Authority	Oct. 31, 2010 Life Sciences Discovery Fund Authority
Revenue [Line Items]
Grant revenue recognized				$ 721,000	$ 266,000	$ 876,000	$ 0	$ 227,000	$ 475,000						$ 624,000	$ 2,000,000	$ 212,000
Remaining available amount under grant				1,800,000
Grants received										5,700,000	20,000,000
Cost reduction to intellectual property assets			7,631,000								10,800,000
Fair value of warrants issued											994,000
Deferred revenue											8,200,000	970,000
Maximum contractual amount from grant																		5,000,000
Reductions to deferred revenue												4,700,000	2,000,000	484,000
Revenue recognized												4,700,000	2,000,000	468,000
Cost reduction to assets	$ 59,000	$ 1,689,000										$ 60,000	$ 38,000	$ 16,000	$ 0	$ 1,700,000	$ 494,000

Commitments and Contingencies - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended	12 Months Ended							1 Months Ended			12 Months Ended		1 Months Ended					1 Months Ended			1 Months Ended		1 Months Ended
	Nov. 30, 2012	Sep. 30, 2012	Dec. 31, 2012 sqft	Dec. 31, 2011	Dec. 31, 2010	Oct. 26, 2012	Mar. 30, 2012	Mar. 28, 2012	Nov. 30, 2012 Second And Third Amendment sqft	Nov. 30, 2012 Additional Office Space Lease sqft	Nov. 30, 2012 Additional Office Space Lease Second And Third Amendment	Dec. 31, 2012 Stanley Medical Research Institute Maximum	Dec. 31, 2012 Vulcan and Life Sciences Discovery Fund Authority	Oct. 31, 2010 Vulcan and Life Sciences Discovery Fund Authority	Oct. 31, 2012 Vulcan Incorporated	Oct. 31, 2010 Vulcan Incorporated	Oct. 31, 2010 Vulcan Incorporated Warrant 1	Oct. 31, 2010 Vulcan Incorporated Warrant 2	Oct. 31, 2010 Vulcan Incorporated Warrant 3	Oct. 31, 2012 Life Sciences Discovery Fund Authority	Oct. 31, 2010 Life Sciences Discovery Fund Authority	Feb. 28, 2011 Individual Maximum	Mar. 31, 2012 Daiichi Sankyo Company Limited	Feb. 28, 2011 Daiichi Sankyo Company Limited Maximum	Apr. 30, 2010 Helion Biotech ApS	Apr. 30, 2010 Helion Biotech ApS Maximum
Commitments and Contingencies Disclosure [Line Items]
Potential future payments												$ 12,800,000										$ 3,800,000		$ 33,500,000		$ 6,900,000
Research and development expense			31,922,000	23,718,000	23,465,000																		50,000		500,000
Potential future net proceeds														1,500,000,000
Eligible expenses and expenditures deducted for computation of net proceeds													25,000,000
Warrants, exercisable, amount of shares								197,478								133,333	133,333	133,333	133,333
Warrants, exercise price per share								12.25									20	30	40
Warrants, term																	5 years	5 years	5 years
Amount payable under agreement																25,000,000
Term of agreement															35 years					35 years
Amount payable under agreement																					25,000,000
Settlement agreement, one-time payment						3,940,000
Litigation settlement		3,953,000	3,953,000
Litigation recovery	3,953,000		3,953,000
Settlement agreement, related employment taxes incurred	13,000
Lease agreement, area of office and laboratory space			64,483						5,177	13,363
Lease agreement, initial term of lease			15 years
Lease agreement, number of extension options			2
Lease agreement, optional lease extension period			5 years
Lease agreement, aggregate rent payable	51,100,000		61,712,000							10,600,000	5,800,000
Lease agreement, security deposit			563,000							117,000
Lease agreement, agreed expenses reimbursement amount			650,000
Lease agreement, expenses incurred to date that are reimbursable by landlord			602,000
Lease agreement, cash lease incentive	206,000						3,000,000
Lease agreement, commencement date for Additional Premises										2013-05
Lease agreement, termination date	2027-11									2027-11
Lease agreement, deferred rent			4,600,000
Lease termination date	Nov. 30, 2012
Lease rent expenses			2,900,000	2,200,000	2,100,000
Sublease rental income			$ 635,000	$ 693,000	$ 793,000
Areas of properties sublease			5,179

Future Minimum Payment Related Lease (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Nov. 30, 2012
Lease Payments
2013	$ 510
2014	3,193
2015	3,936
2016	4,026
2017	4,119
Thereafter	45,928
Total	61,712	51,100
Sublease Income
2013	550
2014	550
2015	550
2016	550
2017	480
Thereafter
Total sublease income receivable	2,680
Net Lease Payments
2013	(40)
2014	2,643
2015	3,386
2016	3,476
2017	3,639
Thereafter	45,928
Net operating lease payments	$ 59,032

Shareholders Equity - Additional Information (Detail) (USD $)	1 Months Ended	12 Months Ended				1 Months Ended				1 Months Ended	3 Months Ended		12 Months Ended	1 Months Ended
	Jul. 31, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Mar. 28, 2012	Oct. 31, 2010 Vulcan Incorporated Warrants	Oct. 31, 2010 Vulcan Incorporated Warrant 1	Oct. 31, 2010 Vulcan Incorporated Warrant 2	Oct. 31, 2010 Vulcan Incorporated Warrant 3	Jul. 31, 2012 Public Offering	Sep. 30, 2012 Public Offering	Dec. 31, 2011 Warrants to purchase common stock	Dec. 31, 2012 At-the-market Sales Agreement	May 31, 2011 Equity Line Of Credit Facility Agreement	May 31, 2011 Equity Line Of Credit Facility Agreement Minimum	May 31, 2011 Equity Line Of Credit Facility Agreement Maximum	Dec. 31, 2012 Equity Line Financing Facility
Class of Stock [Line Items]
Maximum potential value from stock issuance under at-the-market sales agreement													$ 60,000,000
Sales Commission													2.00%
Maximum potential value of stock issuance under equity line financing facility														40,000,000			40,000,000
Term of equity line financing facility														24 months
Share Purchase price discount rate based on minimum price specified															3.00%	6.00%
Minimum trading days required between each draw down period														5 days
Maximum shares issuable under equity line financing facility																4,427,562
Common stock share price after discount, per share															$ 5.02
Acquisition fee as percentage of contract purchase price														0.50%
Public offering, number of shares of common stock sold										3,365,854	3,365,854
Public offering, common stock price per share										$ 10.25
Underwriting discounts and other offering expenses	2,200,000
Public offering, net proceeds		32,306,000								32,300,000
Number Of Warrants Issued Common Stock						3
Shares of common stock to purchase by warrant					197,478	133,333	133,333	133,333	133,333			609,016
Exercise Price of warrants					12.25		20	30	40
Warrant expiration date					Mar. 29, 2013	Oct. 21, 2015
Fair value of warrants		511,000		994,000		994,000
Change in fair value of warrants		$ 511,000
Weighted-average exercise prices			$ 23.85

Stock Based Compensation - Additional Information (Detail) (USD $)

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Jan. 31, 2012

Equity Incentive Plan 2008

Dec. 31, 2012

Equity Incentive Plan 2008

Jan. 31, 2013

Equity Incentive Plan 2008

Stock Option

Dec. 31, 2012

Equity Incentive Plan 2008

Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Maximum number of shares to be issued for cancellation or repurchase of options under the 1998 plan

3,084,848

Shares issued for cancellation or repurchase of options under the 1998 plan

365,696

Annual increase provision, allowable percentage

5.00%

Annual increase provision, maximum allowable shares

1,785,714

Increase in authorized shares

1,121,511

1,294,874

Stock options, number of shares reserved for issuance

4,540,384

Stock options, maximum term

5 years 9 months 7 days

^[1]

5 years 8 months 23 days

^[1]

6 years 29 days

^[1]

10 years

Stock options, average vesting period

4 years

Non-employee options granted

28,000

15,000

9,600

Non-employee options, expense recognized

$ 64,000

$ 62,000

$ 139,000

Total intrinsic value of options exercised

578,000

2,100,000

1,400,000

Unvested options outstanding

2,231,966

Unvested options outstanding, vesting period

2 years 9 months 18 days

Unrecognized compensation expense

$ 10,100,000

[1]	Expected Term. We elected to utilize the "simplified" method for "plain vanilla" options to determine the expected term of our stock option grants. Under this approach, the weighted-average expected life is presumed to be the average of the vesting term and the contractual term of the option.

Fair Value of Employee Option Grant Estimated on Date of Grant (Detail) (USD $)

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Estimated weighted-average fair value

$ 7.35

$ 3.31

$ 4.34

Weighted-Average Assumptions

Expected volatility

86.00%

^[1]

83.00%

^[1]

77.00%

^[1]

Expected term, in years

5 years 9 months 7 days

^[2]

5 years 8 months 23 days

^[2]

6 years 29 days

^[2]

Risk-free interest rate

0.95%

^[3]

1.97%

^[3]

2.55%

^[3]

Expected dividend yield

0.00%

^[4]

0.00%

^[4]

0.00%

^[4]

[1]	Expected Volatility. Because of our limited trading history, the expected volatility rate used to value stock option grants is based on volatilities of a peer group of similar companies whose share prices are publicly available. The peer group was developed based on companies in the pharmaceutical and biotechnology industry in a similar stage of development.
[2]	Expected Term. We elected to utilize the "simplified" method for "plain vanilla" options to determine the expected term of our stock option grants. Under this approach, the weighted-average expected life is presumed to be the average of the vesting term and the contractual term of the option.
[3]	Risk-free Interest Rate. The risk-free interest rate assumption was based on zero-coupon U.S. Treasury instruments that had terms consistent with the expected term of our stock option grants.
[4]	Expected Dividend Yield. We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future.

- Definition

The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.

+ References+ Details

Stock-Based Compensation Expense (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 4,281	$ 1,927	$ 2,178
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	2,191	819	971
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,090	$ 1,108	$ 1,207

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References+ Details

Summary of Stock Option Activity and Related Information (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012
Options Outstanding
Balance at December 31, 2011	3,006,567
Granted	2,561,100
Exercised	(101,395)
Forfeited	(75,690)
Balance at December 31, 2012	5,390,582
Vested and expected to vest at December 31, 2012	5,175,822
Exercisable at December 31, 2012	3,158,616
Weighted-Average Exercise Price per Share
Balance at December 31, 2011	$ 3.32
Granted	$ 7.36
Exercised	$ 3.64
Forfeited	$ 6.90
Balance at December 31, 2012	$ 5.18
Vested and expected to vest at December 31, 2012	$ 5.08
Exercisable at December 31, 2012	$ 3.41
Weighted- Average Remaining Contractual Life
Balance at December 31, 2012	7 years 2 months 27 days
Vested and expected to vest at December 31, 2012	7 years 1 month 28 days
Exercisable at December 31, 2012	5 years 10 months 13 days
Aggregate Intrinsic Value
Balance at December 31, 2012	$ 8,223
Vested and expected to vest at December 31, 2012	8,151
Exercisable at December 31, 2012	$ 7,521

Stock Option Outstanding and Exercisable (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Lower Range Limit	$ 0.78
Exercise Price, Upper Range Limit	$ 13.49
Options Outstanding, Number of Outstanding Shares	5,390,582	3,006,567
Options Outstanding, Weighted Average Remaining Life (Years)	7 years 2 months 27 days
Options Outstanding, Weighted Average Exercise Price	$ 5.18
Options Exercisable, Number Exercisable Shares	3,158,616
Options Exercisable, Weighted Average Exercise Price	$ 3.41
Exercise Price Range $0.78-3.95
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Lower Range Limit	$ 0.78
Exercise Price, Upper Range Limit	$ 3.95
Options Outstanding, Number of Outstanding Shares	1,771,792
Options Outstanding, Weighted Average Remaining Life (Years)	4 years 29 days
Options Outstanding, Weighted Average Exercise Price	$ 1.22
Options Exercisable, Number Exercisable Shares	1,767,210
Options Exercisable, Weighted Average Exercise Price	$ 1.21
Exercise Price Range $4.10-$6.42
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Lower Range Limit	$ 4.10
Exercise Price, Upper Range Limit	$ 6.42
Options Outstanding, Number of Outstanding Shares	1,986,249
Options Outstanding, Weighted Average Remaining Life (Years)	8 years 3 months 4 days
Options Outstanding, Weighted Average Exercise Price	$ 5.03
Options Exercisable, Number Exercisable Shares	1,097,120
Options Exercisable, Weighted Average Exercise Price	$ 5.31
Exercise Price Range $7.29-10.19
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Lower Range Limit	$ 7.29
Exercise Price, Upper Range Limit	$ 10.19
Options Outstanding, Number of Outstanding Shares	497,956
Options Outstanding, Weighted Average Remaining Life (Years)	8 years 9 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 7.89
Options Exercisable, Number Exercisable Shares	113,486
Options Exercisable, Weighted Average Exercise Price	$ 7.89
Exercise Price Range $10.40-13.49
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Lower Range Limit	$ 10.40
Exercise Price, Upper Range Limit	$ 13.49
Options Outstanding, Number of Outstanding Shares	1,134,585
Options Outstanding, Weighted Average Remaining Life (Years)	9 years 8 months 19 days
Options Outstanding, Weighted Average Exercise Price	$ 10.45
Options Exercisable, Number Exercisable Shares	180,800
Options Exercisable, Weighted Average Exercise Price	$ 10.51

- Definition

The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options.

+ References+ Details

Significant Components of Deferred Tax Assets (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Deferred tax assets:
Net operating loss carryforwards	$ 59,124	$ 48,901
Deferred revenue		14
Stock-based compensation	2,183	1,306
Research and development tax credits	3,775	3,560
Investment in Partnership	1,389	547
Other	1,804	303
Deferred Tax Assets, Gross, Total	68,275	54,631
Less valuation allowance	(68,275)	(54,631)
Net deferred tax assets

Income Taxes - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 173.9	$ 143.8
Research and development tax credit	3.8	3.6
Beginning year of net operating loss expiration	2013
Ending year of net operating loss expiration	2032
Deferred tax assets, percentage of valuation allowance	100.00%
Increase in deferred tax valuation allowance	13.6	9.5	11.1
Federal statutory tax rate	(34.00%)	(34.00%)	(34.00%)
Share Based Compensation
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 2.8

- Definition

The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems.

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- Definition

The amount of the change in the period in the valuation allowance for a specified deferred tax asset.

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Reconciliation of Federal Statutory Tax Rate (Detail)	12 Months Ended
Reconciliation of Federal Statutory Tax Rate (Detail)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Reconciliation of Effective Income Tax Rate [Line Items]
Statutory tax rate	(34.00%)	(34.00%)	(34.00%)
Permanent difference	2.00%	1.00%	(1.00%)
Change in valuation allowance	35.00%	33.00%	27.00%
Other	(3.00%)		8.00%
Effective tax rate

- Definition

A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations.

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- Definition

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Quarterly Unaudited Statements of Operations (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Quarterly Financial Data [Line Items]
Revenue	$ 1,583	$ 1,417	$ 1,526	$ 1,496	$ 1,143	$ 987	$ 1,155	$ 1,239	$ 6,022	$ 4,524	$ 2,105
Total operating expenses	9,116	14,453	9,770	9,568	10,990	7,151	6,104	7,689	42,907	31,934	32,211
Loss from operations	(7,533)	(13,036)	(8,244)	(8,072)	(9,847)	(6,164)	(4,949)	(6,450)	(36,885)	(27,410)	(30,106)
Net loss	$ (7,734)	$ (13,276)	$ (8,539)	$ (8,895)	$ (10,201)	$ (6,512)	$ (5,291)	$ (6,542)	$ (38,444)	$ (28,546)	$ (29,251)
Basic and diluted net loss per share	$ (0.30)	$ (0.51)	$ (0.38)	$ (0.40)	$ (0.46)	$ (0.29)	$ (0.24)	$ (0.30)	$ (1.59)	$ (1.29)	$ (1.37)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Cash, Cash Equivalents and Investments	12 Months Ended
Cash, Cash Equivalents and Investments	Dec. 31, 2012
Cash, Cash Equivalents and Investments	Note 3—Cash, Cash Equivalents and Investments As of December 31, 2012 and 2011, all investments are classified as short-term and available-for-sale on the accompanying balance sheets. We did not own any securities with unrealized loss positions as of December 31, 2012 or 2011. Investment income consists primarily of interest income.

Reserved Share of Common Stock (Detail)	Dec. 31, 2012
Reserved Common Stock [Line Items]
Shares reserved	6,884,176
granted and outstanding
Reserved Common Stock [Line Items]
Shares reserved	5,390,582
Options available for future grant
Reserved Common Stock [Line Items]
Shares reserved	884,578
Common stock warrants
Reserved Common Stock [Line Items]
Shares reserved	609,016