View Filing Data

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2015	Nov. 05, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Entity Registrant Name	ASSEMBLY BIOSCIENCES, INC.
Entity Central Index Key	0001426800
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	ASMB
Entity Common Stock, Shares Outstanding		17,225,662

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 36,401,487	$ 29,091,113
Marketable securities	29,396,382	0
Other current assets	705,295	125,284
Total current assets	66,503,164	29,216,397
Long-term assets
Marketable securities	31,186,107	0
Property, plant and equipment, net	156,483	156,441
Security deposits	170,126	115,005
Intangible assets	29,000,000	29,000,000
Goodwill	12,638,136	12,737,350
Total long-term assets	73,150,852	42,008,796
Total assets	139,654,016	71,225,193
Current liabilities
Accounts payable	1,464,339	907,601
Accrued expenses	1,187,230	146,420
Total current liabilities	2,651,569	1,054,021
Long-term liabilities
Deferred tax liabilities	11,600,000	11,600,000
Total long-term liabilities	11,600,000	11,600,000
Total liabilities	14,251,569	12,654,021
Commitments and Contingencies
Stockholders' equity
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding	0	0
Common stock, $0.001 par value; 50,000,000 shares authorized; 17,225,662 and 10,672,059 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	17,226	10,672
Additional paid-in capital	281,990,728	194,072,572
Accumulated other comprehensive loss	(387,878)	0
Accumulated deficit	(156,217,629)	(135,512,072)
Total stockholders' equity	125,402,447	58,571,172
Total liabilities and stockholders' equity	$ 139,654,016	$ 71,225,193

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	17,225,662	10,672,059
Common stock, shares outstanding	17,225,662	10,672,059

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating expenses:
Research and development	$ 4,630,148	$ 3,671,983	$ 13,132,336	$ 7,741,317
General and administrative	2,492,078	7,383,457	8,347,013	9,930,418
Total operating expenses	7,122,226	11,055,440	21,479,349	17,671,735
Loss from operations	(7,122,226)	(11,055,440)	(21,479,349)	(17,671,735)
Other income
Interest and other income	502,684	35,182	772,183	112,287
Realized gain from marketable securities	1,609	0	1,609	0
Total other income	504,293	35,182	773,792	112,287
Net loss	(6,617,933)	(11,020,258)	(20,705,557)	(17,559,448)
Unrealized loss on marketable securities	(253,659)	0	(387,878)	0
Comprehensive loss	$ (6,871,592)	$ (11,020,258)	$ (21,093,435)	$ (17,559,448)
Net loss per share, basic and diluted	$ (0.38)	$ (1.33)	$ (1.36)	$ (3.02)
Weighted average common shares outstanding, basic and diluted	17,205,863	8,277,355	15,189,395	5,814,316

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net loss	$ (20,705,557)	$ (17,559,448)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	47,949	3,894
Stock-based compensation	6,355,453	8,002,033
Realized gain from marketable securities	(1,609)	0
Issuance of warrants for services	0	679,447
Changes in operating assets and liabilities:
Other current assets	(580,011)	(43,360)
Accounts payable	556,738	(2,481,612)
Accrued expenses	1,140,024	18,464
Security deposits	(55,121)	0
Net cash used in operating activities	(13,242,134)	(11,380,582)
Cash flows from investing activities
Purchase of fixed assets	(47,991)	(20,526)
Cash acquired in business combination	0	509,363
Purchases of marketable securities	(63,668,536)	0
Redemption of marketable securities	2,699,778	0
Net cash (used in) provided by investing activities	(61,016,749)	488,837
Cash flows from financing activities
Proceeds from common stock sold, net of underwriters' discounts and cost	81,014,989	1,763,104
Proceeds from exercise of stock options	554,268	0
Net cash provided by financing activities	81,569,257	1,763,104
Net increase (decrease) in cash	7,310,374	(9,128,641)
Cash and cash equivalents at beginning of period	29,091,113	27,061,268
Cash and cash equivalents at end of period	36,401,487	17,932,627
Supplemental disclosure of cash flow information
Cashless exercise of warrants	88	0
Change in unrealized loss on marketable securities available-for-sale	(387,878)	0
Conversion of preferred stock to common stock	0	440
Other current assets	0	(23,540)
Equipment, net	0	(10,350)
Intangible assets	0	(29,000,000)
Goodwill	0	(12,638,136)
Security deposits	0	(16,606)
Accounts payable and accrued expenses	0	774,899
Share exchange - business combination		29,064,148
Fair value of vested options and restricted stock units - in connection with business combination	0	758,948
Deferred tax liability	0	11,600,000
Cash acquired in business combination	$ 0	$ 509,363

CONDENSED CONSOLDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2015 - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2014	$ 58,571,172	$ 10,672	$ 194,072,572	$ 0	$ (135,512,072)
Balance (in shares) at Dec. 31, 2014		10,672,059
Proceeds from common stock sold, net of underwriters' discounts and cost	81,014,989	$ 6,389	81,008,600	0	0
Proceeds from common stock sold, net of underwriters' discounts and cost (in Shares)		6,388,888
Exercise of stock options	$ 554,268	$ 77	554,191	0	0
Exercise of stock options (in shares)	76,422	76,422
Cashless exercise of warrants	$ 0	$ 88	(88)	0	0
Cashless exercise of warrants (in shares)		88,293
Stock-based compensation	6,355,453	$ 0	6,355,453	0	0
Change in unrealized loss on marketable securities	(387,878)	0	0	(387,878)	0
Net loss	(20,705,557)	0	0	0	(20,705,557)
Balance at Sep. 30, 2015	$ 125,402,447	$ 17,226	$ 281,990,728	$ (387,878)	$ (156,217,629)
Balance (in shares) at Sep. 30, 2015		17,225,662

Business

9 Months Ended

Sep. 30, 2015

Organization, Business and Basis Of Presentation [Abstract]

Business

Note 1 - Business

Overview

Assembly Biosciences, Inc. (“Assembly” or the “Company”) is a biopharmaceutical company committed to developing novel oral therapies for the cure of intractable infectious diseases, focusing on the hepatitis B virus (HBV) and C. difficile-associated diarrhea (CDAD). The Company’s HBV-Cure research team is working on discovering and developing multiple core protein allosteric modifiers (CpAMs) with the potential to modulate the HBV core protein - a polyfunctional essential viral protein - at multiple complementary points in the viral lifecycle. The goal is to eradicate the infection with an orally-administered regimen. The Company’s CDAD program is based on the premise that an oral capsule containing specific bacteria grown in monoculture and manufactured under pharmaceutical-like GMP conditions might be effective in providing the therapeutic benefits of fecal microbiota transplant (FMT) therapy in a form that is economically viable and scalable for use.

2014 Highlights

Assembly Biosciences was formed on July 11, 2014 by the merger of private company Assembly Pharmaceuticals, Inc. and Nasdaq-listed Ventrus Biosciences, Inc. (the “Merger”). The Merger resulted in a shift in strategic focus, the addition of a new lead drug development program and changes in personnel. In connection with the Merger, the Company’s Board of Directors and stockholders approved a 1-for-5 reverse stock split of the Company’s common stock. The reverse stock split became effective on July 11, 2014. All share and per share amounts in the consolidated financial statements and notes thereto have been retroactively adjusted for all periods presented to give effect to this reverse stock split, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital. In connection with the Merger, the shares of common stock issued and outstanding of Assembly Pharmaceuticals, were converted into an aggregate of 4,008,848 shares of the Company’s common stock. Also pursuant to the terms of the Merger, the outstanding options to purchase shares of Assembly Pharmaceuticals’ common stock were assumed by the Company and became exercisable for an aggregate of 621,651 shares of the Company’s common stock.

The Company accounted for the acquisition of Assembly Pharmaceuticals, Inc. as a business combination under Accounting Standards Codification (“ASC”) 805 with Ventrus Biosciences, Inc. as the accounting acquirer. The Company determined Ventrus Biosciences, Inc. was the accounting acquirer in accordance with ASC 805-10-25-5 as Ventrus Biosciences, Inc. gained control of Assembly Pharmaceuticals, Inc. upon completion of the Merger. To make this determination, the Company considered factors as indicated in ASC 805-10-55, including which entity issued equity interests to effect the combination, board of director composition, shareholder ownership, voting control, restrictions on shareholder voting rights, anticipated management positions and the relative size of the two companies.

On October 6, 2014, the Company sold to various institutional investors an aggregate of 1,959,000 shares of common stock in a registered direct offering. The purchase price paid by the investors was $8.04 per share and an aggregate of $15.0 million in net proceeds were received.

2015 Highlights

On April 6, 2015, the underwriters exercised in full their option to purchase an additional 833,333 shares of common stock at the public offering price of $13.50 per share, less underwriting discounts and commissions and offering expenses. Proceeds from the sale of shares on the exercise of the underwriters’ option (net of underwriting discounts and commissions) were approximately $10.6 million.

The Company has not derived any revenue from product sales to date as it currently has no products. Once a product has been developed, it will need to be approved for sale by the FDA or any foreign regulatory agency. Since inception, the Company’s operations have been financed primarily through the sale of equity securities, the proceeds from the exercise of warrants and stock options and issuance of debt. The Company has incurred losses from operations and negative cash flows since inception and expects to continue to incur substantial losses for the next several years as it continues its product development efforts. Management believes the Company currently has sufficient funds to meet its operating requirements for at least the next twelve months. If the Company cannot generate significant cash from its operations, it intends to obtain any additional funding it requires through strategic relationships, public or private equity or debt financings, or other arrangements and it cannot assure such funding will be available on reasonable terms, if at all.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2015

Summary Of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2 - Summary of Significant Accounting Policies

Basis of Presentation

The accompanying condensed consolidated interim financial statements include the accounts of the Company and its subsidiary. All intercompany balances and transactions have been eliminated.

The accompanying condensed consolidated financial statements as of September 30, 2015 and for the three and nine months ended September 30, 2015 and 2014 have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of September 30, 2015, condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2015 and 2014, the condensed consolidated statements of cash flows for the nine months ended September 30, 2015 and 2014, and condensed consolidated statement of changes in stockholders’ equity for the nine months ended September 30, 2015 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The results for the three and nine months ended September 30, 2015 are not necessarily indicative of results to be expected for the year ending December 31, 2015 or for any future interim period. The consolidated balance sheet at December 31, 2014 has been derived from audited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying condensed financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2014, and notes thereto included in the Company’s 2014 Annual Report on Form 10-K, as amended, filed on March 16, 2015.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Significant estimates inherent in the preparation of the accompanying financial statements include recoverability and useful lives (indefinite or finite) of intangible assets, assessment of impairment of goodwill, the valuation allowance related to the Company’s deferred tax assets, and the fair value of stock options and warrants granted to employees, consultants, directors, investors, licensors, placement agents and underwriters.

The Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates and assumptions.

Reclassification

Certain reclassifications have been made to prior year amounts to conform to the current year presentation. The Company reclassified certain non-cash activities in the condensed consolidated statements of cash flows to conform to the Assembly Pharmaceutical’s final purchase price allocation.

Marketable Securities

The Company has designated marketable securities as of September 30, 2015 as available-for-sale securities and measures these securities at their respective fair values. Marketable securities are classified as short-term or long-term based on the maturity date and their availability to meet current operating requirements. Marketable securities that mature in one year or less are classified as short-term available-for-sale securities and are reported as a component of current assets. Marketable securities that are not considered available for use in current operations are classified as long-term available-for-sale securities and are reported as a component of long-term assets.

Securities that are classified as available-for-sale are measured at fair value with temporary unrealized gains and losses reported in other comprehensive income (loss), and as a component of stockholders' equity until their disposition. The Company reviews all available-for-sale securities at each period end to determine if they remain available-for-sale based on then current intent and ability to sell the security if it is required to do so.

Marketable securities are subject to a periodic impairment review. The Company may recognize an impairment charge when a decline in the fair value of investments below the cost basis is determined to be other-than-temporary.

Recent Accounting Pronouncements

In the first quarter of 2015, the Company adopted Accounting Standard Update (“ASU”) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity issued by the FASB. ASU 2014-08 changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results (e.g., a disposal of a major geographical area, a major line of business, a major equity method investment or other major parts of an entity). The Company’s adoption of ASU 2014-08 did not have a material impact on the Company’s condensed consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, an updated standard on revenue recognition. ASU 2014-09 provides enhancements to the quality and consistency of how revenue is reported by companies while also improving comparability in the financial statements of companies reporting using International Financial Reporting Standards or GAAP. The main purpose of the new standard is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which a company expects to be entitled in exchange for those goods or services. The new standard also will result in enhanced disclosures about revenue, provide guidance for transactions that were not previously addressed comprehensively and improve guidance for multiple-element arrangements. In July 2015, the FASB voted to approve a one-year deferral of the effective date of ASU 2014-09, which will be effective for the Company in the first quarter of fiscal year 2018 and may be applied on a full retrospective or modified retrospective approach. This ASU will have no impact on the Company until it begins to generate revenue.

In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation (Topic 718). The ASU clarifies how entities should treat performance targets that can be achieved after the requisite service period of a share-based payment award. The accounting standard is effective for interim and annual periods beginning after December 15, 2015. This ASU will have no impact on the Company until it begins to grant performance awards.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The guidance, which is effective for annual reporting periods ending after December 15, 2016, with early adoption permitted, extends the responsibility for performing the going-concern assessment to management and contains guidance on how to perform a going-concern assessment and when going-concern disclosures would be required under GAAP. The Company is currently evaluating the impact of this ASU on its condensed consolidated financial statements.

Assembly Pharmaceuticals, Inc. Transaction

9 Months Ended

Sep. 30, 2015

Business Combinations [Abstract]

Assembly Pharmaceuticals, Inc. Transaction

Note 3 - Assembly Pharmaceuticals, Inc. Transaction

As described in Note 1, on July 11, 2014, the Company completed the Merger, whereby Assembly Pharmaceuticals, Inc. became the Company’s wholly-owned subsidiary. Pursuant to the terms of the Merger, the shares of Assembly Pharmaceuticals were converted into an aggregate of 4,008,848 shares of the Company’s common stock. Also pursuant to the terms of the Merger, the outstanding options to purchase shares of Assembly Pharmaceuticals were assumed by the Company and an aggregate of 621,651 shares of the Company’s common stock were reserved for issuance thereunder.

The allocation of the purchase price is shown below:

Cash and cash equivalents	$	509,363
Other current assets		23,540
Property, plant and equipment, net		10,350
In-process research and development		29,000,000
Goodwill		12,638,136
Security deposits		16,606
Total assets		42,197,995

Accrued expenses		774,899
Deferred tax liabilities		11,600,000
Total liabilities		12,374,899
Net assets acquired	$	29,823,096

The transaction was accounted for using the acquisition method. Accordingly, goodwill has been measured as the excess of the total consideration over the amounts assigned to the identifiable assets acquired and liabilities assumed including the related deferred tax liability. Goodwill is not deductible for tax purposes.

On the acquisition date, the fair value of net assets acquired was $29,823,096. The fair value of stock issued to the Assembly Pharmaceuticals’ shareholders as part of the consideration of $29,064,148 was based on reference to quoted market values of the Company’s common stock as of the date of acquisition. The options assumed in the Merger were valued at $758,948. As of June 30, 2015, the Company finalized its purchase price allocation. The Company adjusted certain accrued expenses, resulting in a decrease of goodwill and accrued expenses of approximately $99,000 in the second quarter of 2015.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Topic 805
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-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Section 50
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Topic 805
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-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4922-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Marketable Securities

9 Months Ended

Sep. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Note 4 - Marketable Securities

Marketable securities consists of the following as of September 30, 2015:

	September 30, 2015
			Gross Unrealized
	Amortized Cost		Loss		Fair Value
Short-term available-for-sale securities
Corporate bonds	$	29,582,978	$	(186,596)	$	29,396,382
		29,582,978		(186,596)		29,396,382

Long-term available-for-sale securities
Government and agency obligations		1,225,000		-		1,225,000
Corporate bonds		30,162,389		(201,282)		29,961,107
		31,387,389		(201,282)		31,186,107
Total	$	60,970,367	$	(387,878)	$	60,582,489

The contractual term to maturity of short-term marketable securities held by the Company as of September 30, 2015 is less than one year. The contractual term to maturity of long-term marketable securities held by the Company as of September 30, 2015 is from 1 to 2 years.

The fair value of marketable securities was classified into fair value measurement categories as follows:

Quoted prices in active markets for identical assets (Level 1)	$	-
Quoted prices for similar assets observable in the marketplace (Level 2)		60,582,489
Significant unobservable inputs (Level 3)		-
Total	$	60,582,489

The fair values of marketable securities are determined using quoted market prices from daily exchange traded markets based on the closing price as of September 30, 2015 and are classified as Level 2.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2015

Goodwill [Abstract]

Goodwill and Intangible Assets

Note 5 - Goodwill and Intangible Assets

Goodwill

Goodwill is not amortized for financial reporting purposes but is tested for impairment on an annual basis or when indications of impairment exist. No goodwill impairment losses have been recognized. Goodwill is not deductible for income tax purposes since the tax basis is $0. The Company will perform its annual impairment test of the carrying value of the Company’s goodwill in the fourth quarter of 2015.

The net book value of goodwill decreased by $99,214 from December 31, 2014 to September 30, 2015, as a result of the adjustment to purchase price accounting within the measurement period.

Intangible Assets

The intangible assets acquired are recorded as indefinite-lived assets and are not amortized for financial reporting purposes until product commercialization but are tested for impairment on an annual basis or when indications of impairment exist. Intangible assets are not deductible for income tax purposes since the tax basis is $0. The Company will perform its annual impairment test of the carrying value of the Company’s intangible assets in the fourth quarter of 2015.

There was no change in intangible assets from December 31, 2014 to September 30, 2015.

Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Note 6 - Property, Plant and Equipment, Net

Property, plant and equipment, consists of the following:

	Useful life (Years)		September 30, 2015		December 31, 2014
Computer hardware and software		3	$	86,792	$	75,196
Lab equipment		3 to 5		166,772		130,377
Office equipment		3 to 5		1,109		1,109
Total property, plant and equipment				254,673		206,682
Less: Accumulated depreciation and amortization				(98,190)		(50,241)
Property, plant and equipment, net			$	156,483	$	156,441

Depreciation expense for the three months ended September 30, 2015 and 2014 was $17,552 and $1,602, respectively, and was recorded in both research and development expense and general and administrative expense in the condensed consolidated statements of operations and comprehensive loss.

Depreciation expense for the nine months ended September 30, 2015 and 2014 was $47,949 and $3,894, respectively, and was recorded in both research and development expense and general and administrative expense in condensed consolidated statements of operations and comprehensive loss.

Accrued Expenses

9 Months Ended

Sep. 30, 2015

Payables and Accruals [Abstract]

Accrued Expenses

Note 7 - Accrued Expenses

Accrued expenses consists of the following:

	September 30, 2015		December 31, 2014
Accrued expenses:
Salaries, bonuses and employee benefits	$	886,211	$	-
Severance accrued for former CEO		234,908		-
Other		66,111		146,420
Total accrued expenses	$	1,187,230	$	146,420

Stockholders' Equity

9 Months Ended

Sep. 30, 2015

Stockholders' Transactions [Abstract]

Stockholders' Equity

Note 8 - Stockholders’ Equity

Equity Financing

On March 19, 2015, the Company sold to various investors an aggregate of 5,555,555 shares of common stock in a public offering. The purchase price paid by the investors was $13.50 per share and an aggregate of $70.4 million in net proceeds were received, after deducting underwriting discounts and commissions and estimated offering expenses. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 833,333 shares of common stock.

On April 6, 2015, the underwriters exercised in full their option to purchase an additional 833,333 shares of common stock at the public offering price of $13.50 per share, less underwriting discounts and commissions and offering expenses. The closing of the option exercise resulted in net proceeds of approximately $10.6 million. Exercise of the underwriters’ option increased the net proceeds (net of underwriting discounts and commissions) of the public offering, from $70.4 million to $81.0 million.

Options

The Company has two equity incentive plans available for the granting of equity awards. In July 2010, the stockholders approved the 2010 Equity Incentive Plan, under which, as of September 30, 2015, there were outstanding options for an aggregate of 143,667 shares of common stock and an aggregate of 611,792 shares available for grant. In July 2014, the stockholders approved the 2014 Stock Incentive Plan (the “2014 Plan”), under which, as of September 30, 2015, there were options for an aggregate of 2,479,666 shares of common stock outstanding and 8,245 shares available for grant.

On February 10, 2015, the Company’s former Chief Executive Officer, Dr. Russell Ellison, transitioned to service as a consultant. The Company accelerated 266,667 of his options on March 3, 2015 in accordance with the original terms of his employment agreement. The corresponding charge related to these options was also accelerated in the first quarter of 2015. The exercise period for Dr. Ellison’s vested options were also extended until the end of their term, or July 9, 2024 in accordance with the original terms of his employment agreement. The remainder of 266,666 unvested options were forfeited in accordance with the original terms of his employment agreement.

A summary of the Company’s option activity and related information for the nine-month period ended September 30, 2015 is as follows:

			Weighted Average		Total Intrinsic
	Number of Shares		Exercise Price		Value
Outstanding as of December 31, 2014		3,237,851	$	6.26	$	5,187,924
Granted		377,500		14.69		-
Exercised		(76,422)		7.25		91,942
Forfeited		(293,945)		7.26		-
Outstanding as of September 30, 2015		3,244,984	$	7.13	$	9,824,224
Options vested and exercisable		2,023,713	$	6.32	$	6,638,359

The fair value of the options granted for the nine-month periods ended September 30, 2015 and 2014, were based on the following assumptions:

	Nine Months Ended September 30,
	2015			2014
Exercise price	$	9.42 - $16.55		$	2.22 - $15.75
Expected stock price volatility	89.18% - 95.55		%	97.3% - 105.0		%
Risk-free rate of interest	1.49% - 2.08		%	1.66% - 2.57		%
Term (years)	5.13 - 6.97			4.9 - 10.0

Estimated future stock-based compensation expense relating to unvested stock options is as follows:

	Future Stock
	Option
	Compensation
	Expense
Three months ended 2015	$	1,295,040
2016		2,767,874
2017		695,674
2018		231,236
2019		46,968
Total	$	5,036,792

The weighted average remaining contractual life of options outstanding at September 30, 2015 is approximately 8.9 years.

Stock-based compensation expense for the three and nine months ended September 30, 2015 and 2014 are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Research and development	$	148,963	$	1,926,473	$	2,624,265	$	2,000,449
General and administrative		1,000,466		5,508,048		3,731,188		6,001,584
Total stock-based compensation expense	$	1,149,429	$	7,434,521	$	6,355,453	$	8,002,033

Warrants

On April 17, 2015, the Company issued an aggregate of 88,293 shares of common stock from the cashless exercise of 120,265 warrants. The Company did not receive any proceeds from this cashless exercise.

During the nine months ended September 30, 2015, 94,147 warrants to purchase common stock expired.

The following is a summary of warrant activity for the nine months ended September 30, 2015:

			Weighted Average
	Warrants		Exercise Price
Outstanding as of December 31, 2014		270,761	$	24.34
Expired		(94,147)		-
Exercised		(120,265)		-
Outstanding as of September 30, 2015		56,349	$	35.49

The weighted average remaining contractual life of outstanding warrants at September 30, 2015 is approximately 1.6 years.

Loss per Common Share

Basic net loss per common share excludes dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity unless inclusion of such shares would be anti-dilutive. Since the Company has only incurred losses, basic and diluted net loss per share is the same. Securities that could potentially dilute earnings per share in the future that were not included in the computation of diluted loss per share for the nine months ended September 30, 2015 and 2014 are as follows:

	Nine Months Ended September 30,
	2015		2014
Warrants to purchase common stock		56,349		271,501
Options to purchase common stock		3,244,984		3,199,651
Total		3,301,333		3,471,152

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: 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))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: 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 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Commitments

9 Months Ended

Sep. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments

Note 9 - Commitments

Real Property Leases

The Company leases office space in New York, NY under an agreement with a monthly lease payment of $10,130 that expires in August 2016. The Company also subleases approximately 6,286 square feet (subject to increase up to an aggregate of approximately 10,794 square feet) of office and laboratory space in San Francisco, CA under a sublease agreement that expires in December 2017, for monthly payments ranging from $44,316 to $82,142 based on the total square footage of the subleased premises. Additionally, the Company leases approximately 4,534 square feet of office space in Carmel, IN under a lease agreement that expires in June 2021, for monthly payments ranging from $5,042 to $9,257.

Equipment Lease

Pursuant to a Master Lease agreement dated November 25, 2014, the Company is leasing certain laboratory equipment. The equipment lease expense for the three months and nine months ended September 30, 2015 amounted to $70,414 and $171,225, respectively.

Employment Agreements

The Company has employment agreements with its Chief Executive Officer and Chief Financial Officer/Chief Operating Officer which provide for an aggregate annual salary of approximately $780,500 in 2015.

Legal Proceedings

9 Months Ended

Sep. 30, 2015

Legal Matter Disclosure [Abstract]

Legal Proceedings

Note 10 - Legal Proceedings

The Company is not a party to any legal proceedings and is not aware of any claims or actions pending or threatened against it. In the future, the Company might from time to time become involved in litigation relating to claims arising from ordinary course of business.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2015

Summary Of Significant Accounting Policies [Abstract]

Basis of presentation

Basis of Presentation

The accompanying condensed consolidated interim financial statements include the accounts of the Company and its subsidiary. All intercompany balances and transactions have been eliminated.

Use of Estimates

Use of Estimates

Reclassification

Reclassification

Marketable Securities

Marketable Securities

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Assembly Pharmaceuticals, Inc. Transaction (Tables)

9 Months Ended

Sep. 30, 2015

Assembly Pharmaceuticals, Inc. Transaction [Abstract]

Assembly Pharmaceuticals, Inc. Transaction

The allocation of the purchase price is shown below:

Cash and cash equivalents	$	509,363
Other current assets		23,540
Property, plant and equipment, net		10,350
In-process research and development		29,000,000
Goodwill		12,638,136
Security deposits		16,606
Total assets		42,197,995

Accrued expenses		774,899
Deferred tax liabilities		11,600,000
Total liabilities		12,374,899
Net assets acquired	$	29,823,096

Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation

Marketable securities consists of the following as of September 30, 2015:

	September 30, 2015
			Gross Unrealized
	Amortized Cost		Loss		Fair Value
Short-term available-for-sale securities
Corporate bonds	$	29,582,978	$	(186,596)	$	29,396,382
		29,582,978		(186,596)		29,396,382

Long-term available-for-sale securities
Government and agency obligations		1,225,000		-		1,225,000
Corporate bonds		30,162,389		(201,282)		29,961,107
		31,387,389		(201,282)		31,186,107
Total	$	60,970,367	$	(387,878)	$	60,582,489

Schedule Of Available For Sale Securities Fair Value Measurement Categories

The fair value of marketable securities was classified into fair value measurement categories as follows:

Quoted prices in active markets for identical assets (Level 1)	$	-
Quoted prices for similar assets observable in the marketplace (Level 2)		60,582,489
Significant unobservable inputs (Level 3)		-
Total	$	60,582,489

Property, Plant and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment, consists of the following:

	Useful life (Years)		September 30, 2015		December 31, 2014
Computer hardware and software		3	$	86,792	$	75,196
Lab equipment		3 to 5		166,772		130,377
Office equipment		3 to 5		1,109		1,109
Total property, plant and equipment				254,673		206,682
Less: Accumulated depreciation and amortization				(98,190)		(50,241)
Property, plant and equipment, net			$	156,483	$	156,441

Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2015

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued expenses consists of the following:

	September 30, 2015		December 31, 2014
Accrued expenses:
Salaries, bonuses and employee benefits	$	886,211	$	-
Severance accrued for former CEO		234,908		-
Other		66,111		146,420
Total accrued expenses	$	1,187,230	$	146,420

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

A summary of the Company’s option activity and related information for the nine-month period ended September 30, 2015 is as follows:

			Weighted Average		Total Intrinsic
	Number of Shares		Exercise Price		Value
Outstanding as of December 31, 2014		3,237,851	$	6.26	$	5,187,924
Granted		377,500		14.69		-
Exercised		(76,422)		7.25		91,942
Forfeited		(293,945)		7.26		-
Outstanding as of September 30, 2015		3,244,984	$	7.13	$	9,824,224
Options vested and exercisable		2,023,713	$	6.32	$	6,638,359

Assumptions for Weighted Average Fair Value of Options Granted

The fair value of the options granted for the nine-month periods ended September 30, 2015 and 2014, were based on the following assumptions:

	Nine Months Ended September 30,
	2015			2014
Exercise price	$	9.42 - $16.55		$	2.22 - $15.75
Expected stock price volatility	89.18% - 95.55		%	97.3% - 105.0		%
Risk-free rate of interest	1.49% - 2.08		%	1.66% - 2.57		%
Term (years)	5.13 - 6.97			4.9 - 10.0

Estimated Future Stock Based Expenses Relating to Unvested Stock Options

Estimated future stock-based compensation expense relating to unvested stock options is as follows:

	Future Stock
	Option
	Compensation
	Expense
Three months ended 2015	$	1,295,040
2016		2,767,874
2017		695,674
2018		231,236
2019		46,968
Total	$	5,036,792

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Stock-based compensation expense for the three and nine months ended September 30, 2015 and 2014 are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Research and development	$	148,963	$	1,926,473	$	2,624,265	$	2,000,449
General and administrative		1,000,466		5,508,048		3,731,188		6,001,584
Total stock-based compensation expense	$	1,149,429	$	7,434,521	$	6,355,453	$	8,002,033

Schedule of Restricted Stock Units

. Securities that could potentially dilute earnings per share in the future that were not included in the computation of diluted loss per share for the nine months ended September 30, 2015 and 2014 are as follows:

	Nine Months Ended September 30,
	2015		2014
Warrants to purchase common stock		56,349		271,501
Options to purchase common stock		3,244,984		3,199,651
Total		3,301,333		3,471,152

Warrant [Member]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following is a summary of warrant activity for the nine months ended September 30, 2015:

			Weighted Average
	Warrants		Exercise Price
Outstanding as of December 31, 2014		270,761	$	24.34
Expired		(94,147)		-
Exercised		(120,265)		-
Outstanding as of September 30, 2015		56,349	$	35.49

Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended
	Apr. 06, 2015	Oct. 06, 2014	Apr. 17, 2015	Mar. 19, 2015	Jul. 11, 2014	Sep. 30, 2015
Overview [Line Items]
Stock Issued During Period, Shares, New Issues		1,959,000	88,293
Shares Issued, Price Per Share		$ 8.04
Proceeds from Issuance of Common Stock		$ 15.0
Stock Issued During Period, Shares, Conversion of Convertible Securities					4,008,848
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number					621,651	2,023,713
Common Stock [Member]
Overview [Line Items]
Stock Issued During Period, Shares, New Issues	833,333			5,555,555
Shares Issued, Price Per Share	$ 13.50			$ 13.50
Proceeds from Issuance of Common Stock	$ 10.6			$ 70.4
Stock Issued During Period, Shares, Conversion of Convertible Securities					4,008,848
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number					621,651
Stockholders' Equity, Reverse Stock Split					1-for-5 reverse stock split

Assembly Pharmaceuticals, Inc. Transaction - Allocation of Purchase Price (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Jul. 11, 2014
Cash and cash equivalents			$ 509,363
Other current assets			23,540
Property, plant and equipment, net			10,350
In-process research and development			29,000,000
Goodwill			12,638,136
Security deposits	$ 170,126	$ 115,005	16,606
Total assets			42,197,995
Accrued expenses			774,899
Deferred tax liabilities			11,600,000
Total liabilities			12,374,899
Net assets acquired			$ 29,823,096

Assembly Pharmaceuticals, Inc. Transaction - Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended	9 Months Ended
	Jul. 11, 2014	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Stock Issued During Period, Shares, Conversion of Convertible Securities	4,008,848
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	621,651		2,023,713
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 29,823,096
Fair value of options assumed	758,948		$ 0	$ 758,948
Noncash Or Part Noncash Acquisition Share Exchange Business Combination	$ 29,064,148			$ 29,064,148
Goodwill, Period Increase (Decrease), Total		$ 99,000	$ 99,214

Marketable Securities (Details)	Sep. 30, 2015 USD ($)
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 60,970,367
Gross Unrealized Loss	(387,878)
Fair Value	60,582,489
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	29,582,978
Gross Unrealized Loss	(186,596)
Fair Value	29,396,382
Short-term Investments [Member] \| Corporate Bond Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	29,582,978
Gross Unrealized Loss	(186,596)
Fair Value	29,396,382
Long-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	31,387,389
Gross Unrealized Loss	(201,282)
Fair Value	31,186,107
Long-term Investments [Member] \| US Government Agencies Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,225,000
Gross Unrealized Loss	0
Fair Value	1,225,000
Long-term Investments [Member] \| Corporate Bond Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	30,162,389
Gross Unrealized Loss	(201,282)
Fair Value	$ 29,961,107

Marketable Securities (Details1)	Sep. 30, 2015 USD ($)
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	$ 60,582,489
Fair Value, Inputs, Level 1 [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	0
Fair Value, Inputs, Level 2 [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	60,582,489
Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	$ 0

Marketable Securities - Additional Information (Details)	9 Months Ended
	Sep. 30, 2015
Short-term Investments [Member]
Available For Sale Securities Maturity Term	less than one year
Other Long-term Investments [Member]
Available For Sale Securities Maturity Term	1.1 to 2.0 years

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	6 Months Ended	9 Months Ended
	Jun. 30, 2015	Sep. 30, 2015
Business Acquisition, Goodwill, Expected Tax Deductible Amount		$ 0
Business Acquisition, Intangible Expected Tax Deductible Amount		0
Goodwill, Period Increase (Decrease), Total	$ 99,000	$ 99,214

Property, Plant and Equipment, Net (Details) - USD ($)	9 Months Ended
Property, Plant and Equipment, Net (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 254,673	$ 206,682
Less: Accumulated depreciation and amortization	(98,190)	(50,241)
Total property, plant and equipment	156,483	156,441
Computer hardware and software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 86,792	75,196
Property, Plant and Equipment, Useful Life	3 years
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 166,772	130,377
Lab equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Lab equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,109	$ 1,109
Office Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Office Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Property, Plant and Equipment [Line Items]
Depreciation	$ 17,552	$ 1,602	$ 47,949	$ 3,894

Accrued Expenses (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Accrued expenses:
Salaries, bonuses and employee benefits	$ 886,211	$ 0
Severance accrued for former CEO	234,908	0
Other	66,111	146,420
Total accrued expenses	$ 1,187,230	$ 146,420

Stockholders' Equity - Option Activity and Related Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Jul. 11, 2014
Shares
Option, Outstanding at beginning of period	3,237,851
Option, Granted	377,500
Option, Exercised	(76,422)
Option, Forfeited	(293,945)
Option, Outstanding at end of period	3,244,984
Options vested and exercisable	2,023,713	621,651
Weighted Average Exercise Price
Option, Outstanding at beginning of period	$ 6.26
Option, Granted	14.69
Option, Exercised	7.25
Option, Forfeited	7.26
Option, Outstanding at end of period	7.13
Option vested exercisable at end of period	$ 6.32
Aggregate Intrinsic Value
Option, Outstanding at beginning of period	$ 5,187,924
Option, Granted	0
Option, Exercised	91,942
Option, Forfeited	0
Option, Outstanding at end of period	9,824,224
Option vested exercisable at end of period	$ 6,638,359

Stockholders' Equity - Assumptions for Fair Value of Options Granted (Details) - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Maximum [Member]
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items]
Exercise price	$ 16.55	$ 15.75
Expected stock price volatility	95.55%	105.00%
Risk-free rate of interest	2.08%	2.57%
Term (years)	6 years 11 months 19 days	10 years
Minimum [Member]
Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Method Used [Line Items]
Exercise price	$ 9.42	$ 2.22
Expected stock price volatility	89.18%	97.30%
Risk-free rate of interest	1.49%	1.66%
Term (years)	5 years 1 month 17 days	4 years 10 months 24 days

Stockholders' Equity - Estimated Future Stock-Based Compensation Expense Relating to Unvested Stock Options (Details)	Sep. 30, 2015 USD ($)
Stockholders Equity Note [Line Items]
Three months ended 2015	$ 1,295,040
2016	2,767,874
2017	695,674
2018	231,236
2019	46,968
Total	$ 5,036,792

Stockholders' Equity (Stock-based compensation expenses) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	$ 1,149,429	$ 7,434,521	$ 6,355,453	$ 8,002,033
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	148,963	1,926,473	2,624,265	2,000,449
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	$ 1,000,466	$ 5,508,048	$ 3,731,188	$ 6,001,584

Stockholders' Equity - summary of warrant activity (Details) - Warrant [Member]	9 Months Ended
	Sep. 30, 2015 $ / shares shares
Shares
Warrants, at beginning of period \| shares	270,761
Warrants, Expired \| shares	(94,147)
Warrant, Exercised \| shares	(120,265)
Warrants, at ending of period \| shares	56,349
Weighted Average Exercise Price
Warrants, at beginning of period \| $ / shares	$ 24.34
Warrants, Expired \| $ / shares	0
Warrant, Exercised \| $ / shares	0
Warrants, at ending of period \| $ / shares	$ 35.49

Stockholders' Equity - (Loss Per Common Share) (Details) - shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,301,333	3,471,152
Warrants To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	56,349	271,501
Options To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,244,984	3,199,651

Stockholders' Equity - Additional Information (Details) - USD ($)				1 Months Ended		9 Months Ended
	Apr. 06, 2015	Feb. 10, 2015	Oct. 06, 2014	Apr. 17, 2015	Mar. 19, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Stockholders Equity Note [Line Items]
Stock Issued During Period, Shares, New Issues			1,959,000	88,293
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number						3,244,984		3,237,851
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term						8 years 10 months 24 days
Shares Issued, Price Per Share			$ 8.04
Proceeds From Issuance Initial Public Offering						$ 81,014,989	$ 1,763,104
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						76,422
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period						94,147
2010 Plan
Stockholders Equity Note [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number						143,667
Common Stock, Capital Shares Reserved for Future Issuance						611,792
2014 Plan
Stockholders Equity Note [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number						2,479,666
Common Stock, Capital Shares Reserved for Future Issuance						8,245
Common Stock [Member]
Stockholders Equity Note [Line Items]
Stock Issued During Period, Value, New Issues	$ 70,400,000				$ 70,400,000
Stock Issued During Period, Shares, New Issues	833,333				5,555,555
Sale of Stock, Price Per Share					$ 13.50
Shares Issued, Price Per Share	$ 13.50				$ 13.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						76,422
Warrant [Member]
Stockholders Equity Note [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term						1 year 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				120,265
Underwritten Public Offering [Member] \| Common Stock [Member]
Stockholders Equity Note [Line Items]
Stock Issued During Period, Value, New Issues	$ 10,600,000
Stock Issued During Period, Shares, New Issues	833,333
Shares Issued, Price Per Share	$ 13.50
Proceeds From Issuance Initial Public Offering	$ 81,000,000
Underwriters [Member] \| Common Stock [Member]
Stockholders Equity Note [Line Items]
Stock Issued During Period, Shares, New Issues					833,333
Dr Ellison [Member]
Stockholders Equity Note [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares		266,666
Accelerated Options		266,667

Commitments - Additional Information (Details)	3 Months Ended	9 Months Ended
Commitments - Additional Information (Details)	Sep. 30, 2015 USD ($) a	Sep. 30, 2015 USD ($) a
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense	$ 70,414	$ 171,225
Operating Leases, Rent Expense, Minimum Rentals		$ 10,130
Area of Land \| a	6,286	6,286
Operating Leases, Rent Expense, Sublease Rentals		$ 122,017
Operating Lease Expiration Month and Year		2016-08
Description for Area Of Land		(subject to increase up to an aggregate of approximately 10,794 square feet)
Carmel [Member]
Commitments and Contingencies Disclosure [Line Items]
Area of Land \| a	4,534	4,534
Operating Lease Expiration Month and Year		2021-06
Maximum [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Sublease Rentals		$ 82,142
Maximum [Member] \| Carmel [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Sublease Rentals		9,257
Minimum [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Sublease Rentals		44,316
Minimum [Member] \| Carmel [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Sublease Rentals		5,042
Chief Executive Officer And Chief Financial Officer [Member]
Commitments and Contingencies Disclosure [Line Items]
Annual base Salary		$ 780,500
San Francisco [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Lease Expiration Month and Year		2017-12