Lumos Pharma (LUMO) 10-Q/A 24 Aug 15 2015 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2015	Aug. 20, 2015
Entity Information [Line Items]
Entity Registrant Name	NEWLINK GENETICS CORP
Entity Central Index Key	1,126,234
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q1
Amendment Flag	true
Amendment Description	NewLink Genetics Corporation (the “Company”) is filing this Amendment No. 1 (this “Amendment”) to our Quarterly Report on Form 10-Q for the period ended March 31, 2015, which was filed with the Securities and Exchange Commission on May 11, 2015 (the “Original Filing”), solely to include certain detail tags and footnotes that were inadvertently omitted from the XBRL (eXtensible Business Reporting Language) Interactive Data Files that were filed with the Original Filing. Other than the missing detail tags and footnotes, the content of the XBRL Interactive Data Files that were filed with the Original Filing were correct as filed.   Pursuant to Rule 12b-15 of the Rules and Regulations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company has included with this Amendment current dated certifications by the Company’s principal executive officer and principal financial officer.   Except for the matters described above, this Amendment does not modify or update disclosures in, or exhibits to, the Original Filing. This Amendment speaks as of the original filing date of the Original Filing and does not reflect any events that may have occurred subsequent to the original filing date.
Entity Common Stock, Shares Outstanding		28,755,793
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 206,593	$ 190,404
Certificates of deposit	7,776	12,393
Prepaid expenses	11,224	8,333
Income tax receivable	14,190	15,604
State research and development credit receivable	270	13
Other receivables	11,046	3,716
Total current assets	251,099	230,463
Leasehold improvements and equipment:
Leasehold improvements	6,059	6,022
Computer equipment	1,556	1,399
Lab equipment	4,641	4,110
Contract manufacturing organization equipment	1,031	1,023
Total leasehold improvements and equipment	13,287	12,554
Less accumulated depreciation and amortization	(5,259)	(4,955)
Leasehold improvements and equipment, net	8,028	7,599
Total assets	259,127	238,062
Current liabilities:
Accounts payable	4,113	2,412
Accrued expenses	9,295	9,367
Current portion of unearned revenue	3,478	12,966
Current portion of deferred rent	85	84
Current portion of obligations under capital leases	36	35
Current portion of notes payable	555	157
Total current liabilities	17,562	25,021
Long-term liabilities:
Royalty obligation payable to Iowa Economic Development Authority	6,000	6,000
Notes payable and obligations under capital leases	494	941
Unearned revenue	1,024	1,085
Deferred rent	1,216	1,238
Total long-term liabilities	8,734	9,264
Total liabilities	26,296	34,285
Stockholders' Equity:
Blank check preferred stock, $0.01 par value: Authorized shares — 5,000,000 at March 31, 2015 and December 31, 2014; issued and outstanding shares — 0 at March 31, 2015 and December 31, 2014	0	0
Common stock, $0.01 par value: Authorized shares — 75,000,000 at March 31, 2015 and December 31, 2014; issued 28,533,836 and 27,991,242 at March 31, 2015 and December 31, 2014, respectively, and outstanding 28,517,195 and 27,980,849 at March 31, 2015 and December 31, 2014, respectively	285	280
Additional paid-in capital	254,966	236,838
Treasury stock, at cost: 16,641 and 10,393 shares at March 31, 2015 and December 31, 2014, respectively	(491)	(222)
Accumulated deficit	(21,929)	(33,119)
Total stockholders' equity	232,831	203,777
Total liabilities and stockholders' equity	$ 259,127	$ 238,062

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2015	Dec. 31, 2014
Stockholders' Equity:
Blank check preferred stock, par value	$ 0.01	$ 0.01
Blank check preferred stock, authorized shares	5,000,000	5,000,000
Blank check preferred stock, issued shares	0	0
Blank check preferred stock, outstanding shares	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	75,000,000	75,000,000
Common stock, issued shares	28,533,836	27,991,242
Common stock, outstanding shares	28,517,195	27,980,849
Treasury Stock, Shares	16,641	10,393

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Grant revenue	$ 9,649	$ 334
Licensing revenue	29,546	0
Total operating revenues	39,195	334
Operating expenses:
Research and development	17,981	6,387
General and administrative	8,366	3,251
Total operating expenses	26,347	9,638
Income (loss) from operations	12,848	(9,304)
Other income and expense:
Miscellaneous income	0	50
Interest income	17	23
Interest expense	(6)	(5)
Other income, net	11	68
Income (loss) before taxes	12,859	(9,236)
Income tax expense	1,669	0
Net income (loss)	$ 11,190	$ (9,236)
Basic earnings (loss) per share	$ 0.40	$ (0.33)
Diluted earnings (loss) per share	$ 0.35	$ (0.33)
Basic average shares outstanding	28,218,631	27,605,910
Diluted average shares outstanding	31,919,318	27,605,910

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - 3 months ended Mar. 31, 2015 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2014	$ 203,777	$ 280	$ 236,838	$ (222)	$ (33,119)
Balance (shares) at Dec. 31, 2014	27,980,849
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	$ 3,191		3,191
Exercise of stock options	$ 1,408	2	1,406
Options exercised	213,192
Issuance of common stock under the ATM offering (net of offering costs of $692)	$ 13,534	3	13,531
Issuance of common stock undertheATMoffering(shares)	329,402
Shares withheld for statutory tax withholding	$ (269)			(269)
Shares withheld for statutory tax withholding (shares)	(6,248)
Net income (loss)	$ 11,190				11,190
Balance at Mar. 31, 2015	$ 232,831	$ 285	$ 254,966	$ 491	$ (21,929)
Balance (shares) at Mar. 31, 2015	28,517,195

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash Flows From Operating Activities
Net income (loss)	$ 11,190	$ (9,236)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Share-based compensation	3,191	2,105
Depreciation and amortization	304	256
Changes in operating assets and liabilities:
Prepaid expenses	(2,892)	94
State research and development credit receivable	(257)	(88)
Other receivables	(7,330)	1,077
Accounts payable and accrued expenses	1,629	(129)
Income taxes receivable	1,414	(125)
Unearned revenue	(9,549)	0
Deferred rent	(21)	(21)
Net cash used in operating activities	(2,321)	(6,067)
Cash Flows From Investing Activities
Maturity of certificates of deposit	4,618	0
Purchase of equipment	(733)	(93)
Net cash provided by (used in) investing activities	3,885	(93)
Cash Flows From Financing Activities
Issuance of common stock, net of offering costs	14,942	28,811
Repurchase of common stock	(269)	(182)
Principal payments on notes payable	(39)	(38)
Payments under capital lease obligations	(9)	(9)
Net cash provided by financing activities	14,625	28,582
Net increase in cash and cash equivalents	16,189	22,422
Cash and cash equivalents at beginning of period	190,404	61,291
Cash and cash equivalents at end of period	206,593	83,713
Supplemental disclosure of cash flows information:
Cash paid for interest	6	4
Cash paid for taxes	255	0
Noncash financing and investing activities:
Purchased leasehold improvements and equipment in accounts payable	$ 53	$ 10

Description of Business (Notes)

Description of Business (Notes)	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	D escription of Business On June 4, 1999, NewLink Genetics Corporation (NewLink) was incorporated as a Delaware corporation. NewLink was formed for the purpose of developing treatments for cancer and other diseases. NewLink initiated operations in April of 2000. In 2005, NewLink created a partially owned subsidiary, BioProtection Systems Corporation (BPS). NewLink contributed certain licensing agreements and other intangible assets for BPS to create vaccines against potential biological terror threats. On January 7, 2011, NewLink acquired all of the minority interest in BPS, by merging a newly-formed subsidiary of NewLink with BPS, with BPS as the surviving corporation resulting in NewLink owning all the outstanding capital stock of BPS. In 2013, NewLink created a wholly-owned subsidiary, NewLink International (NI). NewLink plans to conduct all or a portion of its operations outside of the United States through NI. In 2014, NewLink created another wholly-owned subsidiary, NewLink Global (NG), which was subsequently merged into NewLink during 2014. NewLink and its subsidiaries (the Company) are devoting substantially all of their efforts toward research and development. The Company has never earned revenue from commercial sales of its drugs. The Company earned net income of $11.2 million for the three months ending March 31, 2015 , primarily as a result of earning a milestone payment pursuant to a license and collaboration agreement the Company entered into with Merck, Sharpe and Dohme Corp., or Merck, in 2014. The Company has managed its liquidity needs historically through a series of capital market transactions. On February 4, 2013, the Company completed an offering of its common stock. The Company sold 4,600,000 shares of common stock at a price of $11.40 per share raising a total of $49.0 million in net proceeds. NewLink entered into a sales agreement with Cantor Fitzgerald & Co., dated as of September 5, 2013, under which NewLink may sell up to $60.0 million in shares of its common stock in one or more placements at prevailing market prices for its common stock (the ATM Offering). Any such sales would be effected pursuant to its registration statement on Form S-3 (333-185721), declared effective by the SEC on January 4, 2013. As of December 31, 2014 , the Company had sold 1,833,838 shares of common stock under the ATM Offering, raising a total of $45.2 million in net proceeds. On March 3, 2015 , the Company had completed the sale of 2,163,240 shares of common stock under the ATM Offering, raising a total of $58.7 million in net proceeds. The accompanying financial statements as of March 31, 2015 and for the three months then ended have been prepared assuming the Company will continue as a going concern. The Company successfully raised net proceeds of $37.6 million from its IPO, completed a follow-on offering of its common stock raising net proceeds of $49.0 million , and raised an additional $58.7 million in net proceeds from the ATM Offering prior to March 31, 2015 . In connection with two license and collaboration agreements the Company entered into during 2014, the Company received a nonrefundable upfront cash payment of $150.0 million from Genentech Inc., a member of the Roche Group, or Genentech, in 2014, and a nonrefundable upfront cash payment of $30.0 million from Merck in 2014, as well as an additional milestone payment of $20.0 million from Merck in February 2015. The Company's cash and cash equivalents after these agreements and offerings are expected to be adequate to satisfy the Company's liquidity requirements well into 2016, although not through commercialization and launch of revenue producing products. If available liquidity becomes insufficient to meet the Company’s operating obligations as they come due, the Company's plans include pursuing alternative funding arrangements and/or reducing expenditures as necessary to meet the Company’s cash requirements. However, there is no assurance that, if required, the Company will be able to raise additional capital or reduce discretionary spending to provide the required liquidity. Failure by the Company to successfully execute its plans or otherwise address its liquidity needs may have a material adverse effect on its business and financial position, and may materially affect the Company’s ability to continue as a going concern.

Basis of Presentation (Notes)

Basis of Presentation (Notes)	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim financial statements have been prepared and presented by the Company in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and the rules and regulations of the U.S. Securities and Exchange Commission (the SEC), without audit, and, in management’s opinion, reflect all adjustments necessary to present fairly the Company’s interim condensed financial information. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2014 , included in the Company’s Annual Report on Form 10-K. There were no significant changes in the Company’s accounting policies since the end of fiscal 2014 . The financial results for any interim period are not necessarily indicative of financial results for the full year.

Significant Accounting Policies

Significant Accounting Policies (Notes)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies (a) Use of Estimates The preparation of consolidated 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. (b) Principles of Consolidation The consolidated financial statements include the financial statements of NewLink and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. (c) Financial Instruments and Concentrations of Credit Risk Cash and cash equivalents, certificates of deposit, receivables, and accounts payable, are recorded at cost, which approximates fair value based on the short-term nature of these financial instruments. The fair value and carrying value of notes payable and capital lease obligations was $1.1 million and $1.1 million as of March 31, 2015 and December 31, 2014 , respectively, and was determined using Level 2 inputs. The Company is unable to estimate the fair value of the royalty obligation based on future product sales as the timing of payments, if any, is uncertain. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, and certificates of deposit. Cash and cash equivalents are held by financial institutions and are federally insured up to certain limits. At times, the Company’s cash and cash equivalents balance exceeds the federally insured limits. To limit the credit risk, the Company invests its excess cash primarily in high quality securities such as certificates of deposit. (d) Recent Accounting Pronouncements On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. The FASB has proposed to defer the effective date to January 1, 2018, however, early adoption at January 1, 2017, is permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Long-Term Debt (Notes)

Long-Term Debt (Notes)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt March 2010 City of Ames Forgivable Loan In March 2010, the Company entered into a $400,000 forgivable loan agreement with the City of Ames, Iowa and the Ames Chamber of Commerce, jointly, as lenders. The project provides the Company with financial assistance to construct new facilities within the Ames city limits. In the absence of a default, there are no principal or interest payments due until March 31, 2016. The project calls for the Company to create or retain at least 150 full-time positions located in Ames, Iowa. In March 2015, the City of Ames granted a one year extension for the deadline to obtain the required number of jobs to March 10, 2016. The agreement required the Company to enter into a five -year building lease with the option for extension for an additional five years of not less than 20,000 square feet within the corporate limits of the City of Ames by March 10, 2015, which requirement was met prior to the deadline of March 10, 2015. If, as of March 10, 2016, the Company has fulfilled the terms of the loan agreement, the loan will be forgiven. If on March 10, 2016, the Company has failed to create or retain at least 150 full-time jobs in Ames, Iowa, the Company will be required to repay approximately $3,100 per job not created or retained following such date. As of March 31, 2015 , $397,000 of the total $400,000 forgivable loan was advanced to the Company. In the event of default, including failure to repay any amounts under the loan when due, the Company will be required to repay the note, including 6.5% interest per annum, beginning at the date of default.

Licensing and Research Collabor

Licensing and Research Collaboration Agreements (Notes)	3 Months Ended
	Mar. 31, 2015
Revenue Recognition [Abstract]
Licensing and Research Collaboration Agreements	License and Research Collaboration Agreements Genentech, a Member of the Roche Group In October 2014, the Company entered into a worldwide exclusive collaboration and license agreement with Genentech, or the Genentech Agreement, for the development and commercialization of GDC-0919, one of NewLink's clinical stage IDO pathway inhibitors. The parties also entered into a research collaboration for the discovery of next generation IDO/TDO compounds to be developed and commercialized under this agreement. Under the terms of the Genentech Agreement, the Company received a nonrefundable upfront cash payment of $150.0 million from Genentech and is eligible to receive additional payments of over $1.0 billion upon achieving certain GDC-0919 and Next Generation Product Development regulatory development, international patent acceptance, country marketing approval, and sales-based milestones. The Company is also eligible to receive escalating double digit royalty payments on potential commercial sales of multiple products by Genentech. For the three months ended March 31, 2015 the Company recognized revenue under the Genentech Agreement of $9.5 million associated with license and manufacturing technology transfer deliverables, which were completed in their entirety during the quarter. In accordance with the Company’s continuing performance obligation, $4.4 million of the $150.0 million upfront payment is being deferred and recognized in future years. The upfront payment provides no general right of return for any non-contingent deliverable and no portion of any revenue recognized is refundable. Merck Sharpe & Dohme Corp. In November 2014, the Company entered into a licensing and collaboration agreement with Merck, or the Merck Agreement, to develop, manufacture and commercialize rVSV-EBOV, an Ebola vaccine the Company licensed from the Public Health Agency of Canada, or PHAC. Under the terms of the Merck Agreement, the Company granted Merck an exclusive, royalty-bearing license to the rVSV-EBOV and related technology. Accordingly, the accounting for the transaction commences in the fourth quarter of 2014. Under the Merck Agreement, the Company received a $30.0 million non-refundable, upfront payment in December 2014, and a one-time $20.0 million non-refundable milestone payment upon the initiation of the pivotal clinical trial using the current rVSV-EBOV vaccine product as one arm of the trial in February 2015. In addition, the Company can receive escalating royalties on potential commercial sales by Merck of the current product candidate ranging from single digit to double digits on the rVSV-EBOV license agreement product sales and escalating royalties on potential commercial sales by Merck of products other than current products within the Company’s patent rights ranging from low to high single digit, on increasing levels of annual net sales worldwide. Merck will lead the development of rVSV-EBOV and any other rVSV-based viral hemorrhagic fever (VHF) vaccine product candidates in order to create a marketable product safe for human use. For the three months ended March 31, 2015 the Company recognized revenue under the Merck Agreement of $20.0 million associated with the one-time non-refundable milestone payment, and an additional $98,000 associated with the remaining deliverables. In accordance with the Company’s continuing performance obligations, $134,000 of the $30.0 million upfront payment is being deferred and recognized in future years. The upfront payment provides no general right of return for any non-contingent deliverable and no portion of any revenue recognized is refundable.

Common Stock Equity Incentive P

Common Stock Equity Incentive Plan (Notes)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Common Stock Equity Incentive Plan	Common Stock Equity Incentive Plan 2009 Equity Incentive Plan In April 2000, the stockholders approved the Company's 2000 Equity Incentive Plan (the 2000 Plan), and in July 2009, the stockholders approved the Company's 2009 Equity Incentive Plan (the 2009 Plan). Following the approval of the 2009 Plan, all options outstanding under the 2000 Plan are effectively included under the 2009 Plan. Under the provisions of the 2009 Plan, the Company may grant the following types of common stock awards: • Incentive Stock Options • Nonstatutory Stock Options • Restricted Stock Awards • Stock Appreciation Rights Awards under the 2009 Plan, as amended, may be made to officers, employees, members of the Board of Directors, advisors, and consultants to the Company. As of March 31, 2015 , there were 7,919,109 shares of common stock authorized for the 2009 plan and 1,003,168 shares remained available for issuance. On May 15, 2010 and January 7, 2011, stockholders authorized increases of 1,238,095 and 714,286 shares of common stock available for issuance under the 2009 Plan, respectively. On January 1, 2013, 2014 and 2015, an additional 838,375 , 1,066,340 and 1,119,255 shares of common stock were added to the shares reserved for future issuance under the 2009 Plan, respectively, pursuant to an “evergreen provision”, in accordance with which, on January 1 of each year, from 2012 to (and including) 2019, a number of shares of common stock in an amount equal to 4% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, or such lesser amount of shares (or no shares) approved by the NewLink Board of Directors, was added or will be added to the shares reserved under the 2009 Plan. 2010 Non-Employee Directors' Stock Award Plan Under the terms of the Company’s 2010 Non-Employee Directors’ Stock Award Plan (the Directors’ Plan), which became effective on November 10, 2011, 238,095 shares of common stock were reserved for future issuance. On May 9, 2013 , an additional 161,905 shares of common stock were added to the shares reserved for future issuance under the Directors' Plan. As of March 31, 2015 , 207,327 shares remained available for issuance under the plan. 2010 Employee Stock Purchase Plan Under the terms of the Company’s 2010 Employee Stock Purchase Plan (the 2010 Purchase Plan), which became effective on November 10, 2011, 214,285 shares of common stock were reserved for future issuance. On May 9, 2013 , an additional 185,715 shares of common stock were added to the shares reserved for future issuance under the 2010 Purchase Plan. As of March 31, 2015 , 271,640 shares remained available for issuance under the plan. Share-based Compensation Share-based compensation expense for the three months ended March 31, 2015 and the three months ended March 31, 2014 was $3.2 million , and $2.1 million , respectively, and is allocated between research and development and general and administrative expenses within the consolidated statements of operations, giving rise to related tax benefits of $0 for the three months ended March 31, 2015 and 2014. As of March 31, 2015 , the total compensation cost related to nonvested option awards not yet recognized was $30.9 million and the weighted average period over which it is expected to be recognized is 3.4 years. Stock Options The following table summarizes the stock option activity for the three months ended March 31, 2015 : Number of options Weighted average exercise price Weighted average remaining contractual term (years) Outstanding at beginning of period 5,098,311 $ 9.38 Options granted 668,700 42.77 Options exercised (194,404 ) 7.23 Options forfeited (3,478 ) 22.06 Options expired — — Outstanding at end of period 5,569,129 $ 13.45 6.5 Options exercisable at end of period 3,671,699 $ 6.09 5.2 The following table summarizes the range of assumptions used to estimate the fair value of stock options issued during the three months ended March 31, 2015 : Risk-free interest rate 1.51%-1.88% Expected dividend yield —% Expected volatility 62.5%-63.0% Expected term (in years) 6.8-7.0 Weighted average grant-date fair value per share $26.34 The intrinsic value of options exercised during the three months ended March 31, 2015 was $7.4 million . The fair value of awards vested during the three months ended March 31, 2015 was $2.2 million . Restricted Stock Restricted stock is common stock that is subject to restrictions, including risks of forfeiture, determined by the plan committee of the Board of Directors in its sole discretion, for so long as such common stock remains subject to any such restrictions. A holder of restricted stock has all rights of a stockholder with respect to such stock, including the right to vote and to receive dividends thereon, except as otherwise provided in the award agreement relating to such award. Restricted stock awards are equity classified within the consolidated balance sheets. The fair value of each restricted stock grant is estimated on the date of grant using the closing price of the Company's common stock on the NASDAQ Stock Market on the date of grant. On January 2, 2015, NewLink approved grants of restricted stock unit awards to certain of the named executive officers for extraordinary performance in 2014. These are recognized as grants made in 2015. During the three months ended March 31, 2015 and 2014 , there were 105,800 and 118,700 shares of restricted stock granted, respectively. These restricted stock grants had a weighted average fair value (per share) at date of grant of $43.50 and 21.77 , respectively. At March 31, 2015 and 2014 , there were 241,059 and 78,700 shares of unvested restricted stock outstanding, respectively. Compensation expense is determined for the issuance of restricted stock by amortizing over the requisite service period, or the vesting period, the aggregate fair value of the restricted stock awarded based on the closing price of the Company's common stock on the date of grant. A summary of the Company's unvested restricted stock at March 31, 2015 and changes during the three months ended March 31, 2015 is as follows: Restricted Stock Weighted Average Grant Date Fair Value Unvested at beginning of period 153,509 $ 23.63 Granted 105,800 43.50 Vested (18,250 ) 22.01 Forfeited/cancelled — — Unvested restricted stock at end of period 241,059 $ 32.47 As of March 31, 2015 , the total remaining unrecognized compensation cost related to issuances of restricted stock was approximately $7.0 million and is expected to be recognized over a weighted-average period of 3.4 years. The grant date fair value of awards granted during the three months ended March 31, 2015 was $4.6 million . The fair value of awards vested during the three months ended March 31, 2015 was $787,000 . NewLink does not have a formal policy regarding the source of shares issued upon exercise of stock options or issuance of restricted stock. NewLink expects shares issued to be issued from treasury shares or new shares.

Income Taxes (Notes)

Income Taxes (Notes)	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2015 and 2014 , the Company incurred income tax expense of $1.7 million and $0 , respectively. Income tax expense for the three months ended March 31, 2015 , differs from the amount that would be expected after applying the statutory U.S. federal income tax rate primarily due to the changes in the valuation allowance for deferred taxes, the potential to carry back losses to 2014, and other permanent differences. Income tax expense for the three months ended March 31, 2014 differs from the amount that would be expected after applying the statutory U.S. federal income tax rate primarily due to the changes in the valuation allowance for deferred taxes. The valuation allowance for deferred tax assets as of March 31, 2015 and December 31, 2014 was $7.4 million and $7.1 million , respectively. The net change in the total valuation allowance for the three months ended March 31, 2015 and 2014 was an increase of $310,000 and a decrease of $1.8 million , respectively. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected taxable income, and tax planning strategies in making this assessment. Valuation allowances have been established for the entire amount of the net deferred tax assets as of March 31, 2015 and December 31, 2014 , due to the uncertainty of future recoverability. As of March 31, 2015 , we had federal net operating loss carryforwards of $2.3 million and federal research credit carryforwards of $120,000 . For the year ended December 31, 2014 , we utilized $89.1 million in net operating loss and federal research credit carryforwards in 2014. Sections 382 and 383 of the Internal Revenue Code limit a corporation’s ability to utilize its net operating loss carryforwards and certain other tax attributes (including research credits) to offset any future taxable income or tax if the corporation experiences a cumulative ownership change of more than 50% over any rolling three year period. State net operating loss carryforwards (and certain other tax attributes) may be similarly limited. An ownership change can therefore result in significantly greater tax liabilities than a corporation would incur in the absence of such a change and any increased liabilities could adversely affect the corporation’s business, results of operations, financial condition and cash flow. Based on analysis from inception through December 31, 2014 , NewLink experienced Section 382 ownership changes in September 2001 and March 2003 and BPS experienced Section 382 ownership changes in January 2006 and January 2011 . For the year ended December 31, 2014 , these ownership changes limited NewLink’s ability to utilize federal net operating loss carryforwards (and certain other tax attributes) that accrued prior to the respective ownership changes of NewLink and BPS. Additional ownership changes may have occurred subsequent to December 31, 2014 and may occur in the future as a result of events over which the Company will have little or no control, including purchases and sales of the Company’s equity by its 5% stockholders, the emergence of new 5% stockholders, additional equity offerings or redemptions of the Company’s stock or certain changes in the ownership of any of the Company’s 5% stockholders.

Earnings per Common Share (EPS)

Earnings per Common Share (EPS) (Notes)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share (EPS) The following table presents the calculation of earnings (loss) per common share (in thousands, except share and per share data): Three Months Ended March 31, 2015 2014 Historical net loss per share Net income (loss) attributable to common stockholders $ 11,190 $ (9,236 ) Basic weighted-average shares outstanding 28,218,631 27,605,910 Dilutive effect of stock option and restricted stock shares 3,700,687 — Diluted weighted-average shares outstanding 31,919,318 27,605,910 Basic earnings (loss) per share $ 0.40 $ (0.33 ) Diluted earnings (loss) per share $ 0.35 $ (0.33 ) As of March 31, 2015 , potentially dilutive stock options to purchase 845,980 shares of common stock and restricted stock awards representing 25,000 shares of common stock which had market prices at their award dates that were greater than the average market price, were excluded from our calculation of diluted earnings per share because to do so would be anti-dilutive. As of March 31, 2014 , potentially dilutive stock options to purchase 4.8 million shares of common stock were not included in the calculation of diluted net loss per common share because to do so would be anti-dilutive.

Commitments and Contingencies (

Commitments and Contingencies (Notes)	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	Commitments and Contingencies As of March 31, 2015, there were no significant changes in outstanding commitments or contingencies as disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2014.

Subsequent Events (Notes)

Subsequent Events (Notes)	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event On May 11, 2015 , the Company announced the continuation without any modification or sample size adjustment for its pivotal, Phase 3 IM munotherapy for P ancreatic RES ectable cancer S tudy, called “IMPRESS,” of algenpantucel-L for patients with surgically resected pancreatic cancer following the second planned interim data analysis. IMPRESS is a multi-center, open-label clinical trial assessing the safety and efficacy of algenpantucel-L, NewLink Genetics’ HyperAcute® Pancreatic Cancer immunotherapy candidate, conducted in more than 70 leading cancer centers. With 722 patients enrolled, IMPRESS is the largest trial to be completed in the United States for patients with resected pancreatic cancer. Algenpantucel-L has received fast-track status and orphan drug designation from the U.S. Food and Drug Administration (FDA). NewLink Genetics and the FDA reached agreement in January 2010 on a Special Protocol Assessment (SPA) on the trial design, clinical endpoints and statistical analyses plan for IMPRESS to be used in support of a Biologic License Application (BLA). After careful consideration, including a series of communications with the FDA regarding the statistical analysis plan, the Company decided to retain the benefit of the SPA and not to change the statistical analysis plan as defined in the original protocol. For the second interim analysis, the independent data safety monitoring committee (DSMC) reviewed available patient data with the originally planned log-rank analysis and sample size recalculation, in all respects consistent with the SPA. No other statistical methods were used. The DSMC recommended the study proceed without any modifications, including sample size adjustment, to final analysis. Therefore the Company believes the trial remains powered to determine efficacy upon the occurrence of 444 events.

Significant Accounting Polici17

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the financial statements of NewLink and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Financial Instruments	Financial Instruments and Concentrations of Credit Risk Cash and cash equivalents, certificates of deposit, receivables, and accounts payable, are recorded at cost, which approximates fair value based on the short-term nature of these financial instruments. The fair value and carrying value of notes payable and capital lease obligations was $1.1 million and $1.1 million as of March 31, 2015 and December 31, 2014 , respectively, and was determined using Level 2 inputs. The Company is unable to estimate the fair value of the royalty obligation based on future product sales as the timing of payments, if any, is uncertain.
Concentrations of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, and certificates of deposit. Cash and cash equivalents are held by financial institutions and are federally insured up to certain limits. At times, the Company’s cash and cash equivalents balance exceeds the federally insured limits. To limit the credit risk, the Company invests its excess cash primarily in high quality securities such as certificates of deposit.
Recent Accounting Pronouncements	Recent Accounting Pronouncements On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. The FASB has proposed to defer the effective date to January 1, 2018, however, early adoption at January 1, 2017, is permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Common Stock Equity Incentive18

Common Stock Equity Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option Activity	The following table summarizes the stock option activity for the three months ended March 31, 2015 : Number of options Weighted average exercise price Weighted average remaining contractual term (years) Outstanding at beginning of period 5,098,311 $ 9.38 Options granted 668,700 42.77 Options exercised (194,404 ) 7.23 Options forfeited (3,478 ) 22.06 Options expired — — Outstanding at end of period 5,569,129 $ 13.45 6.5 Options exercisable at end of period 3,671,699 $ 6.09 5.2
Assumptions Used in Black-Scholes Pricing Model for New Grants	The following table summarizes the range of assumptions used to estimate the fair value of stock options issued during the three months ended March 31, 2015 : Risk-free interest rate 1.51%-1.88% Expected dividend yield —% Expected volatility 62.5%-63.0% Expected term (in years) 6.8-7.0 Weighted average grant-date fair value per share $26.34
Restricted Stock Activity	A summary of the Company's unvested restricted stock at March 31, 2015 and changes during the three months ended March 31, 2015 is as follows: Restricted Stock Weighted Average Grant Date Fair Value Unvested at beginning of period 153,509 $ 23.63 Granted 105,800 43.50 Vested (18,250 ) 22.01 Forfeited/cancelled — — Unvested restricted stock at end of period 241,059 $ 32.47

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Basic and Diluted Net Loss per Common Share	The following table presents the calculation of earnings (loss) per common share (in thousands, except share and per share data): Three Months Ended March 31, 2015 2014 Historical net loss per share Net income (loss) attributable to common stockholders $ 11,190 $ (9,236 ) Basic weighted-average shares outstanding 28,218,631 27,605,910 Dilutive effect of stock option and restricted stock shares 3,700,687 — Diluted weighted-average shares outstanding 31,919,318 27,605,910 Basic earnings (loss) per share $ 0.40 $ (0.33 ) Diluted earnings (loss) per share $ 0.35 $ (0.33 )

Description of Business (Detail

Description of Business (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Mar. 03, 2015	Sep. 05, 2013	Feb. 04, 2013	Nov. 16, 2011
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net income (loss)	$ 11,190	$ (9,236)
Financings
Genentech Upfront Payments			$ 150,000
Merck Upfront Payments			30,000
Merck One-Time Milestones	$ 20,000
Initial Public Offering
Financings
FInancing proceeds							$ 37,600
Follow-on Offering
Financings
FInancing proceeds					$ 60,000	$ 49,000
Financing price per share						$ 11.40
Financing shares						4,600,000
ATM Offering
Financings
FInancing proceeds			$ 45,200	$ 58,700
Financing shares			1,833,838	2,163,240

Significant Accounting Polici21

Significant Accounting Policies (Details) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Reported Value Measurement
Financial Instruments, Financial Liabilities, Balance Sheet Groupings
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 1.1	$ 1.1

Long-Term Debt (Details)

Long-Term Debt (Details) - Mar. 31, 2015 - Amount - City of Ames Forgivable Loan 2010 - USD ($)	Total
Debt Instrument
Outstanding Balance	$ 397,000
Original Available Balance	$ 400,000
Interest rate in default	6.50%
Jobs by March 10, 2016	150
Lease square feet	20,000
Repayment per job	$ 3,100

Licensing and Research Collab23

Licensing and Research Collaboration Agreements (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Deferred Revenue Arrangement [Line Items]
Merck Revenue Recognized	$ 98,000
Genentech Potential Milestones	1,000,000,000
Genentech Revenue Recognized	9,500,000
Genentech Upfront Payments		$ 150,000,000
Merck Upfront Payments		$ 30,000,000
Merck One-Time Milestones	20,000,000
Genentech [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	4,400,000
Merck [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$ 134,000

Common Stock Equity Incentive24

Common Stock Equity Incentive Plan (Details)	3 Months Ended			12 Months Ended
	Mar. 31, 2015USD ($)$ / sharesshares	Mar. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2010shares	Dec. 31, 2014$ / sharesshares	Dec. 31, 2013shares	Dec. 31, 2012shares	Dec. 31, 2011shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Date Fair Value of Restricted Stock Awards Granted | $	$ 4,600,000
Share-based Compensation Expense | $	3,200,000	$ 2,100,000
Income Tax Benefit from Compensation Expense | $	0	$ 0
Fair Value of Awards Vested | $	$ 787,000
Stock Option Activity
Options exercised	(213,192)
Restricted Stock
Unvested at beginning of period	153,509
Unvested, weighted average grant date fair value | $ / shares	$ 23.63
Granted	105,800
Granted, weighted average grant date fair value | $ / shares	$ 43.50
Vested	(18,250)
Vested, weighted average grant date fair value | $ / shares	$ 22.01
Forfeited/cancelled	0
Forfeited/cancelled, weighted average grant date fair valueFair Value | $ / shares	$ 0
Unvested restricted stock at end of period	241,059			153,509
Unvested restricted stock, weighted average grant date fair value | $ / shares	$ 32.47			$ 23.63
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Cost Related to Non-vested Awards | $	$ 30,900,000
Weighted Average Vesting Period for Non-vested Awards, In Years	3.4
Intrinsic Value of Options Exercised | $	$ 7,400,000
Fair Value of Awards Vested | $	$ 2,200,000
Assumptions Used in Black Scholes Pricing Model for New Grants
Risk Free Interest Rate, Minimum	1.51%
Risk Free Interest Rate, Maximum	1.88%
Expected Dividend Rate, Minimum	0.00%
Expected Dividend Rate, Maximum	0.00%
Expected Volatility Rate, Minimum	62.50%
Expected Volatility Rate, Maximum	63.00%
Expected Term (in years), Minimum	6.8
Expected Term (in years), Maximum	7
Weighted average grant-date fair value per share | $ / shares	$ 26.34
Stock Option Activity
Outstanding at beginning of period	5,098,311
Outstanding at beginning of period, weighted average exercise price | $ / shares	$ 9.38
Options granted	668,700
Options granted, weighted average exercise price | $ / shares	$ 42.77
Options exercised	(194,404)
Options exercised, weighted average exercise price | $ / shares	$ 7.23
Options forfeited	(3,478)
Options forfeited, weighted average exercise price | $ / shares	$ 22.06
Options expired	0
Options expired, weighted average exercise price | $ / shares	$ 0
Outstanding at end of period	5,569,129			5,098,311
Outstanding at end of period, weighted average exercise price | $ / shares	$ 13.45			$ 9.38
Outstanding at end of period, weighted average remaining contractual term, in years	6.5
Options exercisable at end of period	3,671,699
Exercisable, weighted average exercise price | $ / shares	$ 6.09
Exercisable, weighted average remaining contractual term, in years	5.2
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Cost Related to Non-vested Awards | $	$ 7,000,000
Weighted Average Vesting Period for Non-vested Awards, In Years	3.4
Assumptions Used in Black Scholes Pricing Model for New Grants
Weighted average grant-date fair value per share | $ / shares	$ 43.50	$ 21.77
Stock Option Activity
Options granted	105,800	118,700
Outstanding at end of period	241,059	78,700
2009 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized	7,919,109
Number of Shares Available for Grant	1,003,168
Increase in Number of Shares Authorized			1,238,095	1,119,255	1,066,340	838,375	714,286
Evergreen Increase Percentage				4.00%
2010 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized							214,285
Number of Shares Available for Grant		271,640
Increase in Number of Shares Authorized					185,715
2010 Non-Employee Directors' Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized							238,095
Number of Shares Available for Grant	207,327
Increase in Number of Shares Authorized					161,905

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income tax expense	$ (1,669,000)	$ 0
Deferred Tax Valuation Allowance	(7,400,000)		$ (7,100,000)
Change in Deferred Tax Valuation Allowance	310,000	$ 1,800,000
Operating Loss Carryforwards, Valuation Allowance	2,300,000
Deferred Tax Assets, Tax Credit Carryforwards, Research	$ 120,000
Net Operating Loss Carryfoward Utilized			$ 89,100,000
Income tax change due to cumulative ownership change	50.00%
Existing stockholders	5.00%
Emergence of new stockholders	5.00%
Changes in stockholders	5.00%

Net Loss per Common Share (Net

Net Loss per Common Share (Net Loss Per Share Computation) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net income (loss) attributable to common stockholders	$ 11,190	$ (9,236)
Basic weighted-average shares outstanding	(28,218,631)	(27,605,910)
Dilutive effect of stock option and restricted stock shares	3,700,687	0
Diluted weighted-average shares outstanding	31,919,318	27,605,910
Basic earnings (loss) per share	$ (0.40)	$ 0.33
Diluted earnings (loss) per share	$ 0.35	$ (0.33)

Net Loss per Common Share (Anti

Net Loss per Common Share (Antidilutive Securities) (Details) - shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share
Potentially dilutive securities excluded from computation of diluted net loss per share	845,980	4,800,000
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share
Potentially dilutive securities excluded from computation of diluted net loss per share	25,000

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events (Details)	3 Months Ended
	Mar. 31, 2015USD ($)
Subsequent Events [Abstract]
Number of IMPRESS Cancer Centers	$ 70
Enrolled Number of IMPRESS Patients	722
Trial Event Efficacy	$ 444