Albireo Pharma (ALBO) 10-Q 21 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Albireo Pharma, Inc.
Entity Central Index Key	1,322,505
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	ALBO
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,882,452

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 62,598	$ 29,931
Trade receivables		26
Prepaid expenses and other assets	471	560
Other receivables	663	344
Total current assets	63,732	30,861
Property and equipment, net	155	21
Intangible assets	150	150
Goodwill	18,110	18,110
Other noncurrent assets	529	518
Total assets	82,676	49,660
Current liabilities:
Trade payables	1,329	972
Accrued expenses	3,825	7,548
Long-term debt, current portion	1,928	3,075
Warrant liability		844
Other liabilities	298	269
Total current liabilities	7,380	12,708
Long-term liabilities	43
Total liabilities	7,423	12,708
Stockholders' Equity:
Common stock, $0.01 par value per share — 30,000,000 authorized at June 30, 2017 and 200,000,000 authorized at December 31, 2016; 8,859,141 and 6,292,644 issued and outstanding at June 30, 2017 and December 31, 2016, respectively	90	63
Additional paid in capital	112,549	61,338
Accumulated other comprehensive income	1,406	1,496
Accumulated deficit	(38,792)	(25,945)
Total stockholders’ equity	75,253	36,952
Total liabilities and stockholders’ equity	$ 82,676	$ 49,660

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	30,000,000	200,000,000
Common stock, shares issued	8,859,141	6,292,644
Common stock, shares outstanding	8,859,141	6,292,644

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Revenue	$ 1,000	$ 7,973,000	$ 2,000	$ 8,097,000
Operating expenses:
Research and development	2,962,000	2,713,000	5,774,000	4,310,000
General and administrative	3,713,000	3,028,000	6,925,000	4,334,000
Other (income) expense, net	(65,000)	290,000	9,000	135,000
Total operating expenses	6,610,000	6,031,000	12,708,000	8,779,000
Operating income (loss)	(6,609,000)	1,942,000	(12,706,000)	(682,000)
Interest expense, net	(152,000)	(512,000)	(401,000)	(1,038,000)
Non-operating income, net	585,000	709,000	260,000	620,000
Net income (loss) before income taxes	(6,176,000)	2,139,000	(12,847,000)	(1,100,000)
Income tax	0	0	0	0
Net income (loss)	$ (6,176,000)	$ 2,139,000	$ (12,847,000)	$ (1,100,000)
Net income (loss) per share - basic	$ (0.86)	$ 7.42	$ (1.91)	$ (3.97)
Net income (loss) per share - diluted	$ (0.86)	$ 0.69	$ (1.91)	$ (3.97)
Weighted average shares outstanding - basic	7,171,610	288,427	6,734,555	277,120
Weighted average shares outstanding - diluted	7,171,610	3,101,115	6,734,555	277,120

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (6,176)	$ 2,139	$ (12,847)	$ (1,100)
Other comprehensive income (loss):
Foreign currency translation adjustment	389	380	(90)	41
Total other comprehensive income (loss)	389	380	(90)	41
Total comprehensive income (loss)	$ (5,787)	$ 2,519	$ (12,937)	$ (1,059)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (12,847,000)	$ (1,100,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of debt discount and amortization of issuance costs	301,000	557,000
Depreciation and amortization	13,000	7,000
Change in fair value of financial instruments	(251,000)	(620,000)
Stock-based compensation expense	2,051,000	55,000
Changes in operating assets and liabilities:
Trade receivables	27,000	1,248,000
Prepaid expenses and other current assets	94,000	298,000
Other receivables	(292,000)	(130,000)
Other noncurrent assets	(12,000)
Trade payables	280,000	(815,000)
Accrued expenses	(3,864,000)	2,115,000
Other liabilities and long-term liabilities	29,000	(23,000)
Other noncurrent liabilities	43,000
Net cash provided by (used in) operating activities	(14,428,000)	1,592,000
Cash flows from investing activities:
Purchase of property, plant and equipment	(146,000)	(3,000)
Net cash used in investing activities	(146,000)	(3,000)
Cash flows from financing activities:
Proceeds from issuance of stock	48,508,000
Proceeds from issuance of warrants, net of issuance costs		39,000
Exercise of stock options	62,000
Payments of principal on borrowings	(1,648,000)	(709,000)
Net cash provided by (used in) financing activities	46,922,000	(635,000)
Effect of exchange rate changes on cash and cash equivalents	319,000	176,000
Net increase in cash and cash equivalents	32,667,000	1,130,000
Cash and cash equivalents—beginning of period	29,931,000	5,120,000
Cash and cash equivalents—end of period	62,598,000	6,250,000
Supplemental disclosures of cash flow information:
Cash paid for interest	136,000	283,000
Ordinary A Shares
Cash flows from financing activities:
Proceeds from issuance of stock		$ 35,000
Kreos
Supplemental disclosures of cash flow information:
Shares issued upon cashless exercise of Kreos warrants	$ 617,000

Summary of Significant Accounti

Summary of Significant Accounting Policies and Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Basis of Presentation	1. Summary of significant accounting policies and basis of presentation Organization and Share Exchange Albireo Pharma, Inc. (Parent), together with its direct and indirect subsidiaries (the Company), is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. The Company’s clinical pipeline includes one Phase 3 product candidate, one Phase 2 product candidate and a third product candidate for which an application for regulatory approval has been filed in Japan. A4250, the Company’s lead product candidate, is in development initially for the treatment of patients with progressive familial intrahepatic cholestasis (PFIC), a rare, life-threatening genetic disorder affecting young children. Prior to November 3, 2016, Parent’s name was Biodel Inc. (Biodel). On that date, Biodel effected a 1-for-30 reverse stock split of its common stock (Reverse Stock Split) and completed a share exchange transaction with Albireo Limited, a limited company domiciled in London, United Kingdom, in accordance with the terms of an Amended and Restated Share Exchange Agreement, dated as of July 13, 2016, by and among Biodel, Albireo Limited and the shareholders and noteholders of Albireo Limited (the Agreement). Pursuant to the Agreement, each holder of shares or notes convertible into shares of Albireo Limited received newly issued shares of Biodel common stock and Albireo Limited became a wholly owned subsidiary of Biodel (the Transaction). Following completion of the Transaction, the business of Albireo Limited became the business of Parent and Parent changed its name to Albireo Pharma, Inc. For accounting purposes, the Transaction was treated as a “reverse acquisition” and Albireo Limited was considered the accounting acquirer. Accordingly, with respect to periods prior to completion of the Transaction, the accompanying Condensed Consolidated Financial Statements reflect the historical results of Albireo Limited and its direct and indirect subsidiaries and do not include the historical results of Biodel prior to completion of the Transaction. All share and per share information for periods prior to completion of the Transaction has been retroactively adjusted to reflect the exchange of shares in the Transaction based on an exchange ratio of 0.06999 and, where applicable, the Reverse Stock Split. Basis of presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and accompanying notes included in Parent’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for fair presentation have been included in the Condensed Consolidated Financial Statements. The results of operations for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full fiscal year, any other interim period or any future fiscal year. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB). Any reference in these Condensed Consolidated Financial Statements to common stock or options or warrants to purchase shares of common stock of the Company means the common stock or options or warrants to purchase shares of common stock of Parent. Any reference in these Condensed Consolidated Financial Statements to common stock means, for periods prior to November 3, 2016, Ordinary shares of Albireo Limited. The Company has reclassified certain amounts in the Condensed Consolidated Balance Sheet as of December 31, 2016 from Advances from licensees and from Warrant liability to Other liabilities to conform to the current year presentation. Error corrections In fiscal 2016, the Company under recognized stock-based compensation expense by $788,000. The understatement of stock-based compensation expense was attributable to the use of an incorrect service period, and related period of expense recognition, for certain stock option awards. This understatement was identified during the first quarter of 2017 and the Company attempted to correct the prior period error at that time. In seeking to correct the prior period understatement in the first quarter of 2017, the Company made clerical errors that resulted in the failure to recognize the additional $788,000 of stock-based compensation expense as intended, the incorrect recognition of $788,000 of other comprehensive loss related to foreign currency translation adjustment, the understatement of cash used in operating activities by $788,000 and the incorrect reporting of the effect of foreign exchange changes on cash and cash equivalents as a decrease of $375,000 rather than as an increase of $413,000. In the preparation of its unaudited interim financial statements for the second quarter of 2017, the Company detected the clerical errors made in the first quarter of 2017 and corrected the accounting. As a result, there is $788,000 of additional stock-based compensation expense included in general and administrative expenses for the three and six month periods ended June 30, 2017, as well as an additional $788,000 of other comprehensive income for the three months ended June 30, 2017. The Company determined that the errors and subsequent corrections recorded for the second quarter ended June 30, 2017 are not material to its financial statements for any prior period and does not expect the corrections to be material to its financial statements for the year ending December 31, 2017. Principles of consolidation The accompanying Condensed Consolidated Financial Statements include the accounts of Parent and its direct or indirect wholly owned subsidiaries, Albireo Limited, Albireo AB, Elobix AB, Albireo, Inc and, for periods following completion of the Transaction, Biodel UK Limited. All intercompany balances and transactions have been eliminated in consolidation. Foreign currency translation Functional and presentation currency Items included in the financial statements of each entity comprising the Company are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The functional currency for Parent and Albireo, Inc. is the U.S. Dollar (USD), the functional currency for Albireo Limited, Elobix AB and Biodel UK Limited is the Euro, and the functional currency for Albireo AB is the Swedish Krona (SEK). The Company consolidates its financial statements in USD. Transactions and balances Foreign currency transactions in each entity comprising the Company are remeasured into the functional currency of the entity using the exchange rates prevailing at the respective transaction dates. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized within Other (income) expense, net in the Condensed Consolidated Statements of Operations. The results and financial position of the Company and its subsidiaries that have a functional currency different from the presentation currency are translated into the presentation currency as follows: a. assets and liabilities presented are translated at the closing exchange rate as of June 30, 2017 and December 31, 2016; b. income and expenses for each statement of comprehensive income (loss) are translated at the average exchange rate for the applicable period; c. significant transactions use the closing exchange rate on the date of the transaction; and d. all resulting exchange differences arising from such translation are recognized directly in other comprehensive income (loss) and presented as a separate component of equity. Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, revenues and expenses reported in the financial statements and accompanying notes. Management must apply significant judgment in this process. On an ongoing basis, the Company evaluates its estimates and assumptions, including but not limited to accruals, deferred tax assets and warrant liability estimated at fair value. Actual results could materially differ from these estimates. Research and development expenses Research and development costs are expensed as incurred and include primarily salaries, benefits and other staff-related costs; clinical trial and related clinical manufacturing costs; contract services and other outside costs. The Company’s nonclinical studies and clinical trials are performed by third-party contract research organizations (CROs). Some of these expenses are billed monthly for services performed, while others are billed based upon milestones achieved. For nonclinical studies, the significant factors used in estimating accruals include the percentage of work completed to date and contract milestones achieved. For clinical trial expenses, the significant factors used in estimating accruals include the number of patients enrolled and percentage of work completed to date or contract milestones achieved. The Company’s estimates are highly dependent upon the timeliness and accuracy of the data provided by the respective CROs regarding the status of the contracted activity, with adjustments made when deemed necessary. Revenue recognition Revenue is generated from the receipt of upfront or license fees, milestone payments and payments for pharmaceutical ingredient or related procurement services that are made pursuant to out-licensing or related supply agreements. Where an out-licensing arrangement of the Company involves the provision of multiple elements that may contain different remuneration arrangements such as upfront payments, milestone payments or product sales, the arrangement is assessed to determine whether separate delivery of the individual elements of such arrangement comprises more than one unit of accounting. The delivered elements are separated if (a) they have value to the licensee on a stand-alone basis, (b) there is objective and reliable evidence of the fair value of the undelivered element(s) and (c) if the arrangement includes a general right of return relative to the delivered element(s), delivery or performance of the undelivered element(s) is considered probable and is substantially in the control of the Company. Allocation of revenue to the different elements that require separate accounting is based on the separate selling prices determined for each component, and total consideration is then allocated pro rata across the components of the arrangement. If separate selling prices are not available, the Company will use its best estimate of such selling prices, consistent with the overall pricing strategy and relevant market factors. The Company has determined that each element of its out-licensing agreements is a separate and distinct unit of accounting, and, as such, the fair value of each element has been subscribed and recognized as follows: • Nonrefundable upfront payments received from the Company’s out-licensing agreements relating to technical expertise and intellectual property are recognized in income if all rights relating to the intellectual property and all obligations resulting from them have been relinquished under the contract terms and the Company has no continuing material obligation to perform under the agreement. However, if rights to the intellectual property continue to exist or obligations resulting from them have yet to be fulfilled, the payments received would be deferred until all rights and obligations have been fulfilled. • Nonrefundable payments that are linked to the achievement of significant and substantive development or regulatory milestones in the research and development process are recognized as revenue upon the achievement of the specified milestone. • Revenue and costs associated with procurement services associated with pharmaceutical ingredients are recognized net in revenue when title and risk of loss of the pharmaceutical ingredients have passed to the licensee as the Company is not the primary obligor, and revenue and costs associated with related procurement services are recognized net in revenue when the Company is contractually bound. As of June 30, 2017, the Company had a license agreement with EA Pharma Co., Ltd. (EA Pharma, formerly Ajinomoto Pharmaceuticals Co., Ltd.), entered into in 2012, to develop a select product candidate (elobixibat) for registration and subsequent commercialization in select markets. The Company satisfied its material performance obligations under the agreement in 2012, upon the delivery of technical expertise and intellectual property rights to EA Pharma. Payments resulting from pharmaceutical ingredient or related procurement services are recognized as revenue as the activities are performed and are presented on a net basis. Revenue is recorded on a net basis because the Company acts as an agent, as it does not have discretion to change suppliers and does not perform any part of the services or manufacture of the subject pharmaceutical ingredients. The costs associated with these activities are netted against the related revenue in the Condensed Consolidated Statements of Operations. For certain contingent payments under research and development arrangements, the Company recognizes revenue using the milestone method. Under the milestone method, a payment that is contingent upon the achievement of a substantive milestone is recognized in its entirety in the period in which the milestone is achieved. A milestone is an event: (i) that can be achieved based in whole or in part on either the Company’s performance or on the occurrence of a specific outcome resulting from the Company’s performance, (ii) for which there is substantive uncertainty at the date the arrangement is entered into that the event will be achieved and (iii) that would result in additional payments being due to the Company. The determination that a milestone is substantive requires estimation and judgment and is made at the inception of the arrangement. Milestones are considered substantive when the consideration earned from the achievement of the milestone is: (A) commensurate with either the Company’s performance to achieve the milestone or the enhancement of value of the item delivered as a result of a specific outcome resulting from the Company’s performance to achieve the milestone, (B) related solely to past performance and (C) reasonable relative to all deliverables and payment terms in the arrangement. In making the determination as to whether a milestone is substantive or not, management of the Company considers all facts and circumstances relevant to the arrangement, including factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the milestone, the level of effort and investment required to achieve the milestone and whether any portion of the milestone consideration is related to future performance or deliverables. The Company has evaluated each milestone specified under its license agreement with EA Pharma and determined the milestone to be substantive. Under the terms of the license agreement with EA Pharma, the Company was eligible as of June 30, 2017 to receive up to approximately (a) €13.3 million ($15.2 million based on the Euro to USD exchange rate as of June 30, 2017) if specified regulatory events are achieved for elobixibat in Japan and (b) ¥3.5 billion ($31.1 million based on the Japanese Yen to USD exchange rate as of June 30, 2017) if specified sales milestones are achieved for elobixibat in EA Pharma’s licensed territory following regulatory approval in any country in EA Pharma’s licensed territory. The likelihood that the Company will achieve any particular milestone event with respect to elobixibat in any particular period, or at all, is uncertain, and the Company may not earn any future milestone payment with respect to elobixibat in any particular period, or ever. In addition, the Company is eligible to receive stepped royalties beginning in the high single digits on any future elobixibat product sales. The Company will recognize royalty revenue in the period of sale of elobixibat, based on the underlying contract terms, provided that the reported sales are reliably measurable and the Company has no remaining performance obligations, assuming all other revenue recognition criteria are met. Loss contingencies Loss contingencies are recorded as liabilities when it is probable that a liability has occurred and the amount of loss is reasonably estimable. Disclosure is required when there is a reasonable possibility that an ultimate loss will be material. Contingent liabilities are often resolved over long periods of time. Estimating probable losses requires analysis that often depends on judgments about potential actions by third parties, such as regulators. Recently adopted accounting pronouncements In March 2016, the FASB issued ASU No. 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Accounting pronouncements issued but not yet adopted In May 2014, the FASB issued ASU No. 2014-09, “ Revenue from Contracts with Customers: (Topic 606) Revenue Recognition Property, Plant, and Equipment Intangibles-Goodwill and Other consolidated In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) In September 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	2. Fair value of financial instruments In measuring fair value, the Company evaluates valuation techniques such as the market approach, the income approach and the cost approach. A three-level valuation hierarchy, which prioritizes the inputs to valuation techniques that are used to measure fair value, is based upon whether such inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the reporting entity. The three-level hierarchy for the inputs to valuation techniques is briefly summarized as follows: Level 1—Observable inputs such as quoted prices (unadjusted) for identical Level 2—Observable inputs such as quoted prices for similar Level 3—Unobservable inputs that reflect the reporting entity’s estimate of assumptions that market participants would use in pricing the asset or liability. The following tables present the fair values for the Company’s financial instruments as well as the input levels used to determine these fair values as of June 30, 2017 and December 31, 2016. The Company values its current assets, which include trade and other receivables, and liabilities, which include trade payables, at historical cost, which approximates fair value. The estimated fair value of the Loan Facility (see Note 7) was $1.9 million as of June 30, 2017. The Company used the income approach to value the Loan Facility. Total Carrying Value on the Condensed Consolidated Balance Sheet Fair Value Measurements Fair Value Level June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 (in thousands) Financial Instruments Recorded at Fair Value on a Recurring Basis Current liabilities: Warrant liability 3 $ — $ 844 $ — $ 844 On December 17, 2014, the Company (in particular, Albireo Limited) executed a convertible loan instrument, which provided 1,251,000 €1.00 ($1.12) unsecured convertible loan notes (2014 Convertible Loans), denominated in Euros, and was subsequently amended on October 1, 2015. On October 1, 2015, the Company executed a convertible loan instrument which provided 5,000,000 $1.00 unsecured convertible loan notes (the 2015 Convertible Loans), denominated in USD. The valuation methods used to value the 2014 Convertible Loans, the 2015 Convertible Loans and their respective associated derivative liabilities were the income approach and the Monte Carlo simulation analysis. The fair value of the 2014 Convertible Loans increased by $25,000 and $17,000 for the three and six months ended June 30, 2016, respectively. The fair value of the 2015 Convertible Loans increased by $222,000 and $127,000 for the three and six months ended June 30, 2016, respectively. Immediately prior to completion of the Transaction on November 3, 2016, the conversion rights for the 2014 Convertible Loans and the 2015 Convertible Loans were exercised. There were no transfers from one Level to another Level during the periods reported. Warrants In connection with the Loan Facility, the Company issued to Kreos Capital IV (Expert Fund) Limited (Kreos Capital) detachable warrants with a right to acquire shares at €720,000 (the Warrants). The Company recognized the Warrants at fair value at the time of execution of the Loan Facility and remeasured their fair value on a recurring basis thereafter. In connection with the Transaction, the Warrants were replaced with warrants to purchase 67,271 shares of the Company’s common stock at an exercise price of $11.78 per share (the Replacement Kreos Warrants). The exchange was accounted for as a modification whereby the fair value of the Replacement Kreos Warrants was compared to the fair value of the Warrants immediately before the terms were modified, measured based on the market price of the common stock of the Company and other pertinent factors on the date of the modification. On May 10, 2017, Kreos Capital notified the Company of its intent to exercise the Replacement Kreos Warrants on a “cashless” basis. In conjunction with the exercise, the Company remeasured the fair value of the Replacement Kreos Warrants to be $618,000 immediately prior to the exercise. The number of shares of the Company’s common stock issued in the cashless exercise, 29,831 shares, was determined by a formula specified in the warrant document. The existing liability of the fair value at date of exercise was reclassified to Additional paid in capital. The fair value of the Replacement Kreos Warrants decreased by $584,000 and $226,000 for the three and six months ended June 30, 2017, respectively. The fair value of the Warrants decreased by $956,000 and $765,000 for the three and six months ended June 30, 2016, respectively. See Note 7 for a further description of the Loan Facility, Warrants and Replacement Kreos Warrants.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	3. Commitments and contingencies Operating lease commitments Parent is a party to an Office Lease Agreement with SHIGO 10 PO Owner LLC for approximately 5,116 rentable square feet in the building located at 10 Post Office Square, Boston, Massachusetts, which serves as Parent’s executive offices. The initial term of the lease is 62 months beginning on March 1, 2017. Parent has the option to extend the lease one time for an additional 5-year period. Following an initial two-month rent abatement period, Parent is obligated to make monthly rent payments in an amount beginning at $20,997 and escalating by approximately 2% annually for the term of the lease. In addition, Parent is responsible under the lease for specified costs and charges, including certain operating expenses, utilities, taxes and insurance. Albireo AB is a party to a 36-month building lease for approximately 5,113 square feet of office space in Gothenburg, Sweden. The current quarterly payment under the lease is SEK 318,197 ($35,907 based on the SEK to USD exchange rate as of June 30, 2017) and subject to change based on applicable taxes and otherwise to increase based on changes in the Swedish Consumer Price Index (CPI). The current term of the lease expires in November 2019, but renews automatically thereafter for consecutive three-year terms unless notice of nonrenewal is given by either party at least nine months prior to the end of the then-current term, subject to Albireo AB’s right to terminate the lease at any time upon six months’ notice. As of June 30, 2017, future minimum commitments under facility operating leases were $1,339,000. Rent expense recognized under the Company’s operating leases was $185,000 and $54,000 for the six months ended June 30, 2017 and 2016, respectively. Agreements with CROs As of June 30, 2017, the Company had various agreements with CROs for the conduct of specified research and development activities and, based on the terms of the respective agreements, may be required to make future payments of up to $6.0 million upon the completion of contracted work. Other Commitments In connection with the spin-off of Albireo Limited from AstraZeneca in 2008 and associated transfer agreements, the Company became party to an assignment agreement between AstraZeneca and a named inventor on a patent related to elobixibat. In connection with this agreement, upon the initial launch of a pharmaceutical product that constitutes an IBAT inhibitor in specified countries, the inventor is entitled to a one-time “launch fee” payment of SEK 4.0 million ($473,000, based on the SEK to USD exchange rate as of June 30, 2017).

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	4. Net income (loss) per share Basic net income (loss) per share, or Basic EPS, is calculated by dividing the net income (loss) by the weighted average number of shares of common stock outstanding. Diluted net income (loss) per share, or Diluted EPS, is calculated by dividing the net income (loss) by the weighted-average number of shares of common stock plus, in the case of dilutive net income per share, dilutive common stock equivalents outstanding. The following table sets forth the computation of Basic EPS and Diluted EPS (in thousands, except for share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Basic EPS: Numerator Net income (loss) $ (6,176 ) $ 2,139 $ (12,847 ) $ (1,100 ) Net income (loss) $ (6,176 ) $ 2,139 $ (12,847 ) $ (1,100 ) Denominator Weighted average number of shares 7,171,610 288,427 6,734,555 277,120 Number of shares used for Basic EPS computation 7,171,610 288,427 6,734,555 277,120 Basic EPS $ (0.86 ) $ 7.42 $ (1.91 ) $ (3.97 ) Diluted EPS: Numerator Net income (loss) $ (6,176 ) $ 2,139 $ (12,847 ) $ (1,100 ) Net income (loss) $ (6,176 ) $ 2,139 $ (12,847 ) $ (1,100 ) Denominator Weighted average number of shares 7,171,610 288,427 6,734,555 277,120 Conversion of convertible preferred shares — 2,754,386 — — Weighted average effect of dilutive securities: Warrants to purchase common stock — 58,302 — — Number of shares used for Diluted EPS computation 7,171,610 3,101,115 6,734,555 277,120 Diluted EPS $ (0.86 ) $ 0.69 $ (1.91 ) $ (3.97 ) As described in Note 1, “Organization and Share Exchange,” the share and per share information as of and for the period ended June 30, 2016 has been retroactively adjusted to reflect the exchange of shares in the Transaction based on an exchange ratio of 0.06999 and does not include the historical results of Biodel. The following outstanding common stock equivalents were excluded from the computation of Diluted EPS for the three months ended June 30, 2017 and 2016 and the six months ended June 30, 2017 and 2016 because including them would have been anti-dilutive: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Convertible preference shares (on an as-converted basis) — — — 2,754,386 Warrants to purchase convertible preference shares (on an as-converted basis) — 56,637 — 53,549 Options to purchase common stock 767,662 151,370 767,662 76,517

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income taxes	5. Income taxes The Company did not record a tax provision or benefit for either the three or six months ended June 30, 2017 or June 30, 2016. The Company has continued to maintain a full valuation allowance against its net deferred tax assets. The Company has had an overall net operating loss position since its inception. The Company had approximately $53.3 million in valuation allowances recorded against its deferred tax assets as of both June 30, 2017 and December 31, 2016. The Company’s 2015 federal tax return, in respect of its predecessor (Biodel), is under examination.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based Compensation	6. Stock-based Compensation On November 3, 2016, the Albireo Pharma, Inc. 2016 Equity Incentive Plan (the 2016 Equity Plan) was approved by the Company’s stockholders. The 2016 Equity Plan replaced Biodel’s 2010 Stock Incentive Plan, as amended (the 2010 Plan), in connection with completion of the Transaction. The 2016 Equity Plan authorized the issuance of up to 635,000 shares, plus up to 249,059 shares issued if awards outstanding under the 2010 Plan were cancelled, forfeited or expired on or after the Transaction. All stock options outstanding under the 2010 Plan remain in full force and effect pursuant to their terms and the terms of the 2010 Plan. The 2016 Equity Plan is structured to comply with the requirements imposed by Section 162 (m) of the Internal Revenue Code of 1986, as amended, and related regulations. Prior to completion of the Transaction, Albireo Limited adopted a share option plan on March 18, 2016, providing for the grant of share options to employees, consultants, officers and directors of Albireo Limited or its subsidiaries (the Pre-Transaction Plan). The Pre-Transaction Plan was amended by Albireo Limited on April 18, 2016. Pursuant to the terms of the Pre-Transaction Plan and prior to completion of the Transaction, Albireo Limited issued or granted options to purchase 246,666 Ordinary A shares. These options were classified as a liability on the basis that they were granted in a currency other than the functional currency of the employing entity of the recipients and were subject to revaluation until exercised or forfeited. The options were replaced with options to purchase shares of the Company’s common stock in conjunction with the Transaction. The replacement was accounted for as a modification whereby the fair value of the replacement awards was compared to the fair value of the original award immediately before the terms were modified, measured based on the market price of the common stock of Biodel and other pertinent factors on the date of the modification. The options were then classified as equity awards with the liability reclassified to Additional paid in capital. The Company’s employment agreements with certain of its executives provide that, upon a change of control as defined, all of the then outstanding unvested options and any other rights to purchase Company shares will become fully vested and exercisable and any vesting-like restrictions will lapse in full, unless earlier vesting is provided for in the applicable program under which such option or other right to purchase Company shares was granted or under applicable law. The Transaction was not a change of control under the employment agreements. The Company recognized stock-based compensation expense for employees of $1,439,000 and $55,000 for the three months ended June 30, 2017 and 2016, respectively, and $2,051,000 and $55,000 for the six months ended June 30, 2017 and 2016, respectively. A summary of the outstanding stock options as of June 30, 2017 is as follows: Stock Options Outstanding Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Outstanding—December 31, 2016 694,869 $ 26.71 7.35 $ 6,435 Granted 249,900 $ 19.21 — $ — Expirations (48,680 ) $ 175.10 — $ — Exercises (6,666 ) $ 9.00 — $ — Outstanding—June 30, 2017 889,423 $ 16.62 8.59 $ 9,951 Exercisable—June 30, 2017 277,292 $ 21.55 7.00 $ 6,325 Vested or expected to vest at—June 30, 2017 870,001 $ 16.96 8.59 $ 9,570 Aggregate intrinsic value represents the difference between the estimated fair value of the underlying common stock and the exercise price of outstanding, in-the-money options. Options to purchase 19,422 shares of common stock are performance based and vest upon the date the Company files a drug approval application for its product candidate A4250 for any orphan indication, if such filing occurs prior to a specified date. This unvested performance-based option is excluded from the vested or expected to vest balance as of June 30, 2017. As of June 30, 2017, the total unrecognized compensation expense related to unvested options was $7.4 million, which the Company expects to recognize over a weighted average vesting period of 2.4 years. In determining the estimated fair value of the stock-based awards, the Company uses the Black-Scholes option pricing model and assumptions discussed below. Each of these inputs is subjective and generally requires significant judgment to determine. The fair value of stock option awards granted during the three and six months ended June 30, 2017, was estimated with the following assumptions: Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Price per share of common stock $17.05-$23.82 $17.05-$23.82 Expected term (in years) 5.2-6.7 5.2-6.7 Risk-free interest rate 1.9-2.1% 1.9-2.1% Expected volatility 69.5-76.7 69.5-78.4 Dividend rate 0% 0%

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Long-term Debt	7. Long-term debt June 30, 2017 December 31, 2016 (in thousands) Long-term debt, including current portion: Loan Facility $ 1,928 $ 3,075 Total debt 1,928 3,075 Less: current portion (1,928 ) (3,075 ) Long-term debt $ — $ — Loan Facility The Company (in particular, Albireo Limited) executed a loan agreement (Loan Facility) with Kreos Capital IV (UK) Limited (Kreos UK) in December 2014, at which time the Company borrowed €6.0 million ($7.3 million). The Loan Facility has a term of 36 months with principal and interest payable monthly, with an annual interest rate of 11.5%. In addition, the Company is required to make an end-of-loan payment equal to 1.25% of the amounts lent by Kreos UK. The principal amount outstanding as of June 30, 2017 was $1.4 million (€1.3 million). The outstanding amount is due and payable in average monthly installments of €253,000 ($289,000, based on the Euro to USD exchange rate as of June 30, 2017) and an end of loan payment of €670,000 ($765,000, based on the Euro to USD exchange rate as of June 30, 2017) due and payable on December 1, 2017. The Company is accreting the debt discount of $114,000 remaining as of June 30, 2017 over the remaining six months of the loan term. Interest expense included $130,000 and $239,000 of discount accretion for the three months ended June 30, 2017 and 2016, respectively, and $301,000 and $472,000 of discount accretion for the six months ended June 30, 2017 and 2016, respectively. The Company has the option to redeem all outstanding amounts. Upon the occurrence of a sale or a change of control, the Company shall redeem the principal, accrued interest and other fees, and remaining interest payments calculated until the end of the term, discounted by 5%. Parent’s subsidiary, Albireo Limited, has pledged its shares in its subsidiary, Albireo AB, and has granted a debenture (incorporating fixed and floating charges) over its assets by way of security for the obligations it owes under the Loan Facility. The Loan Facility is guaranteed by Parent and two of Parent’s indirect subsidiaries, Elobix AB and Albireo AB, as the principal obligors that have severally agreed to indemnify and keep indemnified Kreos UK in full and on demand from and against all and any losses, costs, claims, liabilities, damages, demands and expenses suffered or incurred by Kreos UK arising out of, or in connection with, any failure of the Company to perform or discharge any of its obligations or liabilities. In addition, Parent, Elobix AB and Albireo AB have agreed to pledge the following: • Parent shares in Albireo Limited • Albireo AB shares in Elobix AB • Albireo AB bank accounts • Albireo AB A4250 patents • Elobix elobixibat patents • Elobix bank accounts Although the bank accounts of Albireo AB and Elobix AB were pledged, Albireo AB and Elobix AB are not restricted from using the cash for working capital requirements. The Company also pledged its present and future rights to fees, royalties and other payments due and payable any time under its license agreement with EA Pharma to Kreos UK in support of the Loan Facility. On February 4, 2016, the Company (in particular, Albireo Limited) entered a Deed of Variation related to the Loan Facility. Under the terms of the Deed of Variation, the timing of principal payments was changed such that €512,000 ($585,000, based on the Euro to USD exchange rate as of June 30, 2017) of the payments was deferred to become payable at the end of the loan term. The total principal due under the Loan Facility remained unchanged. In addition, there were no changes to the maturity date or the stated interest rate. The Company accounted for the amendment to the Loan Facility prospectively in accordance with ASC 470-50, Modifications and Extinguishments

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives	8. Derivatives The following disclosures summarize the fair value of derivative instruments not designated as hedging instruments in the Condensed Consolidated Balance Sheet as of June 30, 2017 and the effects of changes in fair value related to those derivative instruments on the Condensed Consolidated Statements of Operations for the six months ended June 30, 2017 (in thousands): Derivative Instruments Not Designated as Hedging Instruments Balance Sheet Location June 30, 2017 December 31, 2016 Warrants liability Current liabilities — 844 Effect of Derivative Instruments Not Location of Gains Six Months Ended June 30, Designated as Hedging Instruments (Losses) Recognized 2017 2016 Derivative liabilities Non-operating expense, net $ — $ (145 ) Warrants liability Non-operating income, net 251 765 Effect of Derivative Instruments Not Location of Gains Three Months Ended June 30, Designated as Hedging Instruments (Losses) Recognized 2017 2016 Derivative liabilities Non-operating expense, net $ — $ (247 ) Warrants liability Non-operating income, net 609 956 The derivative liabilities related to the conversion feature embedded in the 2014 Convertible Loans and 2015 Convertible Loans have been separately recognized at their respective fair values. The Company determined that embedded features met the definition of a derivative and were required to be recorded at fair value at issuance and remeasured for each reporting period thereafter. Immediately prior to completion of the Transaction on November 3, 2016, the conversion rights for the 2014 Convertible Loans and the 2015 Convertible Loans were exercised.

Financings

Financings	6 Months Ended
	Jun. 30, 2017
Financings Disclosure [Abstract]
Financings	9. Financings May 2017 Underwritten Public Offering On May 30, 2017, the Company completed an underwritten public offering of 2,530,000 shares of its common stock, which included the full exercise of the underwriter's option to purchase 330,000 shares to cover overallotments, at a price to the public of $20.50 per share. The Company received net proceeds from this offering of $48.5 million, after deducting underwriting discounts, commissions and offering expenses.

Summary of Significant Accoun16

Summary of Significant Accounting Policies and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Organization and Share Exchange	Organization and Share Exchange Albireo Pharma, Inc. (Parent), together with its direct and indirect subsidiaries (the Company), is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. The Company’s clinical pipeline includes one Phase 3 product candidate, one Phase 2 product candidate and a third product candidate for which an application for regulatory approval has been filed in Japan. A4250, the Company’s lead product candidate, is in development initially for the treatment of patients with progressive familial intrahepatic cholestasis (PFIC), a rare, life-threatening genetic disorder affecting young children. Prior to November 3, 2016, Parent’s name was Biodel Inc. (Biodel). On that date, Biodel effected a 1-for-30 reverse stock split of its common stock (Reverse Stock Split) and completed a share exchange transaction with Albireo Limited, a limited company domiciled in London, United Kingdom, in accordance with the terms of an Amended and Restated Share Exchange Agreement, dated as of July 13, 2016, by and among Biodel, Albireo Limited and the shareholders and noteholders of Albireo Limited (the Agreement). Pursuant to the Agreement, each holder of shares or notes convertible into shares of Albireo Limited received newly issued shares of Biodel common stock and Albireo Limited became a wholly owned subsidiary of Biodel (the Transaction). Following completion of the Transaction, the business of Albireo Limited became the business of Parent and Parent changed its name to Albireo Pharma, Inc. For accounting purposes, the Transaction was treated as a “reverse acquisition” and Albireo Limited was considered the accounting acquirer. Accordingly, with respect to periods prior to completion of the Transaction, the accompanying Condensed Consolidated Financial Statements reflect the historical results of Albireo Limited and its direct and indirect subsidiaries and do not include the historical results of Biodel prior to completion of the Transaction. All share and per share information for periods prior to completion of the Transaction has been retroactively adjusted to reflect the exchange of shares in the Transaction based on an exchange ratio of 0.06999 and, where applicable, the Reverse Stock Split.
Basis of Presentation	Basis of presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and accompanying notes included in Parent’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for fair presentation have been included in the Condensed Consolidated Financial Statements. The results of operations for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full fiscal year, any other interim period or any future fiscal year. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB). Any reference in these Condensed Consolidated Financial Statements to common stock or options or warrants to purchase shares of common stock of the Company means the common stock or options or warrants to purchase shares of common stock of Parent. Any reference in these Condensed Consolidated Financial Statements to common stock means, for periods prior to November 3, 2016, Ordinary shares of Albireo Limited. The Company has reclassified certain amounts in the Condensed Consolidated Balance Sheet as of December 31, 2016 from Advances from licensees and from Warrant liability to Other liabilities to conform to the current year presentation. Error corrections In fiscal 2016, the Company under recognized stock-based compensation expense by $788,000. The understatement of stock-based compensation expense was attributable to the use of an incorrect service period, and related period of expense recognition, for certain stock option awards. This understatement was identified during the first quarter of 2017 and the Company attempted to correct the prior period error at that time. In seeking to correct the prior period understatement in the first quarter of 2017, the Company made clerical errors that resulted in the failure to recognize the additional $788,000 of stock-based compensation expense as intended, the incorrect recognition of $788,000 of other comprehensive loss related to foreign currency translation adjustment, the understatement of cash used in operating activities by $788,000 and the incorrect reporting of the effect of foreign exchange changes on cash and cash equivalents as a decrease of $375,000 rather than as an increase of $413,000. In the preparation of its unaudited interim financial statements for the second quarter of 2017, the Company detected the clerical errors made in the first quarter of 2017 and corrected the accounting. As a result, there is $788,000 of additional stock-based compensation expense included in general and administrative expenses for the three and six month periods ended June 30, 2017, as well as an additional $788,000 of other comprehensive income for the three months ended June 30, 2017. The Company determined that the errors and subsequent corrections recorded for the second quarter ended June 30, 2017 are not material to its financial statements for any prior period and does not expect the corrections to be material to its financial statements for the year ending December 31, 2017.
Principles of Consolidation	Principles of consolidation The accompanying Condensed Consolidated Financial Statements include the accounts of Parent and its direct or indirect wholly owned subsidiaries, Albireo Limited, Albireo AB, Elobix AB, Albireo, Inc and, for periods following completion of the Transaction, Biodel UK Limited. All intercompany balances and transactions have been eliminated in consolidation.
Foreign Currency Translation	Foreign currency translation Functional and presentation currency Items included in the financial statements of each entity comprising the Company are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The functional currency for Parent and Albireo, Inc. is the U.S. Dollar (USD), the functional currency for Albireo Limited, Elobix AB and Biodel UK Limited is the Euro, and the functional currency for Albireo AB is the Swedish Krona (SEK). The Company consolidates its financial statements in USD. Transactions and balances Foreign currency transactions in each entity comprising the Company are remeasured into the functional currency of the entity using the exchange rates prevailing at the respective transaction dates. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized within Other (income) expense, net in the Condensed Consolidated Statements of Operations. The results and financial position of the Company and its subsidiaries that have a functional currency different from the presentation currency are translated into the presentation currency as follows: a. assets and liabilities presented are translated at the closing exchange rate as of June 30, 2017 and December 31, 2016; b. income and expenses for each statement of comprehensive income (loss) are translated at the average exchange rate for the applicable period; c. significant transactions use the closing exchange rate on the date of the transaction; and d. all resulting exchange differences arising from such translation are recognized directly in other comprehensive income (loss) and presented as a separate component of equity.
Use of Estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, revenues and expenses reported in the financial statements and accompanying notes. Management must apply significant judgment in this process. On an ongoing basis, the Company evaluates its estimates and assumptions, including but not limited to accruals, deferred tax assets and warrant liability estimated at fair value. Actual results could materially differ from these estimates.
Research and Development Expenses	Research and development expenses Research and development costs are expensed as incurred and include primarily salaries, benefits and other staff-related costs; clinical trial and related clinical manufacturing costs; contract services and other outside costs. The Company’s nonclinical studies and clinical trials are performed by third-party contract research organizations (CROs). Some of these expenses are billed monthly for services performed, while others are billed based upon milestones achieved. For nonclinical studies, the significant factors used in estimating accruals include the percentage of work completed to date and contract milestones achieved. For clinical trial expenses, the significant factors used in estimating accruals include the number of patients enrolled and percentage of work completed to date or contract milestones achieved. The Company’s estimates are highly dependent upon the timeliness and accuracy of the data provided by the respective CROs regarding the status of the contracted activity, with adjustments made when deemed necessary.
Revenue Recognition	Revenue recognition Revenue is generated from the receipt of upfront or license fees, milestone payments and payments for pharmaceutical ingredient or related procurement services that are made pursuant to out-licensing or related supply agreements. Where an out-licensing arrangement of the Company involves the provision of multiple elements that may contain different remuneration arrangements such as upfront payments, milestone payments or product sales, the arrangement is assessed to determine whether separate delivery of the individual elements of such arrangement comprises more than one unit of accounting. The delivered elements are separated if (a) they have value to the licensee on a stand-alone basis, (b) there is objective and reliable evidence of the fair value of the undelivered element(s) and (c) if the arrangement includes a general right of return relative to the delivered element(s), delivery or performance of the undelivered element(s) is considered probable and is substantially in the control of the Company. Allocation of revenue to the different elements that require separate accounting is based on the separate selling prices determined for each component, and total consideration is then allocated pro rata across the components of the arrangement. If separate selling prices are not available, the Company will use its best estimate of such selling prices, consistent with the overall pricing strategy and relevant market factors. The Company has determined that each element of its out-licensing agreements is a separate and distinct unit of accounting, and, as such, the fair value of each element has been subscribed and recognized as follows: • Nonrefundable upfront payments received from the Company’s out-licensing agreements relating to technical expertise and intellectual property are recognized in income if all rights relating to the intellectual property and all obligations resulting from them have been relinquished under the contract terms and the Company has no continuing material obligation to perform under the agreement. However, if rights to the intellectual property continue to exist or obligations resulting from them have yet to be fulfilled, the payments received would be deferred until all rights and obligations have been fulfilled. • Nonrefundable payments that are linked to the achievement of significant and substantive development or regulatory milestones in the research and development process are recognized as revenue upon the achievement of the specified milestone. • Revenue and costs associated with procurement services associated with pharmaceutical ingredients are recognized net in revenue when title and risk of loss of the pharmaceutical ingredients have passed to the licensee as the Company is not the primary obligor, and revenue and costs associated with related procurement services are recognized net in revenue when the Company is contractually bound. As of June 30, 2017, the Company had a license agreement with EA Pharma Co., Ltd. (EA Pharma, formerly Ajinomoto Pharmaceuticals Co., Ltd.), entered into in 2012, to develop a select product candidate (elobixibat) for registration and subsequent commercialization in select markets. The Company satisfied its material performance obligations under the agreement in 2012, upon the delivery of technical expertise and intellectual property rights to EA Pharma. Payments resulting from pharmaceutical ingredient or related procurement services are recognized as revenue as the activities are performed and are presented on a net basis. Revenue is recorded on a net basis because the Company acts as an agent, as it does not have discretion to change suppliers and does not perform any part of the services or manufacture of the subject pharmaceutical ingredients. The costs associated with these activities are netted against the related revenue in the Condensed Consolidated Statements of Operations. For certain contingent payments under research and development arrangements, the Company recognizes revenue using the milestone method. Under the milestone method, a payment that is contingent upon the achievement of a substantive milestone is recognized in its entirety in the period in which the milestone is achieved. A milestone is an event: (i) that can be achieved based in whole or in part on either the Company’s performance or on the occurrence of a specific outcome resulting from the Company’s performance, (ii) for which there is substantive uncertainty at the date the arrangement is entered into that the event will be achieved and (iii) that would result in additional payments being due to the Company. The determination that a milestone is substantive requires estimation and judgment and is made at the inception of the arrangement. Milestones are considered substantive when the consideration earned from the achievement of the milestone is: (A) commensurate with either the Company’s performance to achieve the milestone or the enhancement of value of the item delivered as a result of a specific outcome resulting from the Company’s performance to achieve the milestone, (B) related solely to past performance and (C) reasonable relative to all deliverables and payment terms in the arrangement. In making the determination as to whether a milestone is substantive or not, management of the Company considers all facts and circumstances relevant to the arrangement, including factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the milestone, the level of effort and investment required to achieve the milestone and whether any portion of the milestone consideration is related to future performance or deliverables. The Company has evaluated each milestone specified under its license agreement with EA Pharma and determined the milestone to be substantive. Under the terms of the license agreement with EA Pharma, the Company was eligible as of June 30, 2017 to receive up to approximately (a) €13.3 million ($15.2 million based on the Euro to USD exchange rate as of June 30, 2017) if specified regulatory events are achieved for elobixibat in Japan and (b) ¥3.5 billion ($31.1 million based on the Japanese Yen to USD exchange rate as of June 30, 2017) if specified sales milestones are achieved for elobixibat in EA Pharma’s licensed territory following regulatory approval in any country in EA Pharma’s licensed territory. The likelihood that the Company will achieve any particular milestone event with respect to elobixibat in any particular period, or at all, is uncertain, and the Company may not earn any future milestone payment with respect to elobixibat in any particular period, or ever. In addition, the Company is eligible to receive stepped royalties beginning in the high single digits on any future elobixibat product sales. The Company will recognize royalty revenue in the period of sale of elobixibat, based on the underlying contract terms, provided that the reported sales are reliably measurable and the Company has no remaining performance obligations, assuming all other revenue recognition criteria are met.
Loss Contingencies	Loss contingencies Loss contingencies are recorded as liabilities when it is probable that a liability has occurred and the amount of loss is reasonably estimable. Disclosure is required when there is a reasonable possibility that an ultimate loss will be material. Contingent liabilities are often resolved over long periods of time. Estimating probable losses requires analysis that often depends on judgments about potential actions by third parties, such as regulators.
Recently Adopted Accounting Pronouncements	Recently adopted accounting pronouncements In March 2016, the FASB issued ASU No. 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting
Accounting Pronouncements Issued but not Yet Adopted	Accounting pronouncements issued but not yet adopted In May 2014, the FASB issued ASU No. 2014-09, “ Revenue from Contracts with Customers: (Topic 606) Revenue Recognition Property, Plant, and Equipment Intangibles-Goodwill and Other consolidated In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) In September 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)

Fair Value of Financial Instr17

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Financial Instruments Recorded at Fair Value on Recurring Basis	Total Carrying Value on the Condensed Consolidated Balance Sheet Fair Value Measurements Fair Value Level June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 (in thousands) Financial Instruments Recorded at Fair Value on a Recurring Basis Current liabilities: Warrant liability 3 $ — $ 844 $ — $ 844

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Summary of Computation of Basic EPS and Diluted EPS	The following table sets forth the computation of Basic EPS and Diluted EPS (in thousands, except for share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Basic EPS: Numerator Net income (loss) $ (6,176 ) $ 2,139 $ (12,847 ) $ (1,100 ) Net income (loss) $ (6,176 ) $ 2,139 $ (12,847 ) $ (1,100 ) Denominator Weighted average number of shares 7,171,610 288,427 6,734,555 277,120 Number of shares used for Basic EPS computation 7,171,610 288,427 6,734,555 277,120 Basic EPS $ (0.86 ) $ 7.42 $ (1.91 ) $ (3.97 ) Diluted EPS: Numerator Net income (loss) $ (6,176 ) $ 2,139 $ (12,847 ) $ (1,100 ) Net income (loss) $ (6,176 ) $ 2,139 $ (12,847 ) $ (1,100 ) Denominator Weighted average number of shares 7,171,610 288,427 6,734,555 277,120 Conversion of convertible preferred shares — 2,754,386 — — Weighted average effect of dilutive securities: Warrants to purchase common stock — 58,302 — — Number of shares used for Diluted EPS computation 7,171,610 3,101,115 6,734,555 277,120 Diluted EPS $ (0.86 ) $ 0.69 $ (1.91 ) $ (3.97 )
Summary of Outstanding Shares Excluded from Computation of Diluted EPS	The following outstanding common stock equivalents were excluded from the computation of Diluted EPS for the three months ended June 30, 2017 and 2016 and the six months ended June 30, 2017 and 2016 because including them would have been anti-dilutive: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Convertible preference shares (on an as-converted basis) — — — 2,754,386 Warrants to purchase convertible preference shares (on an as-converted basis) — 56,637 — 53,549 Options to purchase common stock 767,662 151,370 767,662 76,517

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Outstanding Stock Options	A summary of the outstanding stock options as of June 30, 2017 is as follows: Stock Options Outstanding Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Outstanding—December 31, 2016 694,869 $ 26.71 7.35 $ 6,435 Granted 249,900 $ 19.21 — $ — Expirations (48,680 ) $ 175.10 — $ — Exercises (6,666 ) $ 9.00 — $ — Outstanding—June 30, 2017 889,423 $ 16.62 8.59 $ 9,951 Exercisable—June 30, 2017 277,292 $ 21.55 7.00 $ 6,325 Vested or expected to vest at—June 30, 2017 870,001 $ 16.96 8.59 $ 9,570
Summary of Estimated Fair Value of Stock Option Awards	The fair value of stock option awards granted during the three and six months ended June 30, 2017, was estimated with the following assumptions: Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Price per share of common stock $17.05-$23.82 $17.05-$23.82 Expected term (in years) 5.2-6.7 5.2-6.7 Risk-free interest rate 1.9-2.1% 1.9-2.1% Expected volatility 69.5-76.7 69.5-78.4 Dividend rate 0% 0%

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt	June 30, 2017 December 31, 2016 (in thousands) Long-term debt, including current portion: Loan Facility $ 1,928 $ 3,075 Total debt 1,928 3,075 Less: current portion (1,928 ) (3,075 ) Long-term debt $ — $ —

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivative Instruments Not Designated as Hedging Instruments	Derivative Instruments Not Designated as Hedging Instruments Balance Sheet Location June 30, 2017 December 31, 2016 Warrants liability Current liabilities — 844 Effect of Derivative Instruments Not Location of Gains Six Months Ended June 30, Designated as Hedging Instruments (Losses) Recognized 2017 2016 Derivative liabilities Non-operating expense, net $ — $ (145 ) Warrants liability Non-operating income, net 251 765 Effect of Derivative Instruments Not Location of Gains Three Months Ended June 30, Designated as Hedging Instruments (Losses) Recognized 2017 2016 Derivative liabilities Non-operating expense, net $ — $ (247 ) Warrants liability Non-operating income, net 609 956

Summary of Significant Accoun22

Summary of Significant Accounting Policies and Basis of Presentation - Additional Information (Details) € in Millions, ¥ in Billions	Nov. 03, 2016	Jul. 13, 2016	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2017EUR (€)	Jun. 30, 2017JPY (¥)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Summary Of Significant Accounting Policies [Line Items]
Reverse stock split	0.033	0.06999				0.06999	0.06999	0.06999
Stock-based compensation expense			$ 1,439,000		$ 55,000	$ 2,051,000			$ 55,000
Foreign currency translation adjustment			389,000		380,000	(90,000)			41,000
Other comprehensive income (loss)			389,000		$ 380,000	(90,000)			41,000
Net cash provided by (used in) operating activities						(14,428,000)			1,592,000
Effect of exchange rate changes on cash and cash equivalents				$ 413,000		319,000			$ 176,000
Revenue recognition milestone received						15,200,000	€ 13.3
Sales Milestones
Summary Of Significant Accounting Policies [Line Items]
Revenue recognition milestone received						31,100,000		¥ 3.5
Prior Period Correction on Clerical Error that Resulted in Failure to Recognize Stock Compensation Expense
Summary Of Significant Accounting Policies [Line Items]
Other comprehensive income (loss)			788,000
General and Administrative | Prior Period Correction on Clerical Error that Resulted in Failure to Recognize Stock Compensation Expense
Summary Of Significant Accounting Policies [Line Items]
Stock-based compensation expense			$ 788,000			$ 788,000
Understatement
Summary Of Significant Accounting Policies [Line Items]
Stock-based compensation expense										$ 788,000
Clerical Error that Resulted in Failure to Recognize Stock Compensation Expense
Summary Of Significant Accounting Policies [Line Items]
Stock-based compensation expense										$ 788,000
Foreign currency translation adjustment				(788,000)
Other comprehensive income (loss)				(788,000)
Net cash provided by (used in) operating activities				(788,000)
Scenario, Previously Reported
Summary Of Significant Accounting Policies [Line Items]
Effect of exchange rate changes on cash and cash equivalents				$ (375,000)

Fair Value of Financial Instr23

Fair Value of Financial Instruments - Additional Information (Details)	Oct. 01, 2015Note$ / Note	Dec. 17, 2014Note	Dec. 17, 2014€ / Note	Dec. 17, 2014$ / Note	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2017EUR (€)	Jun. 30, 2016USD ($)	May 10, 2017USD ($)shares	Dec. 31, 2016USD ($)shares
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimated fair value of Loan Facility					$ 1,900,000		$ 1,900,000
Fair value of liabilities transferred from level 1 to level 2					0		0
Fair value of liabilities transferred from level 2 to level 1					$ 0		0
Fair value of liabilities transferred into level 3							0
Fair value of liabilities transferred from level 3							$ 0
Fair value of warrants											$ 844,000
Common stock, shares issued | shares					8,859,141		8,859,141				6,292,644
Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Common stock, shares issued | shares										29,831
Decrease in the fair value of warrants						$ (956,000)			$ (765,000)
Replacement Kreos Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrants to purchase common stock | shares					67,271		67,271
Exercise price warrants | $ / shares					$ 11.78		$ 11.78
Fair value of warrants										$ 618,000
Decrease in the fair value of warrants					$ (584,000)		$ (226,000)
Kreos Capital | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrants issued with a right to acquire shares | €								€ 720,000
2014 Convertible Loans
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of convertible loan notes outstanding | Note		1,251,000
Convertible notes price per unit			1	1.12
Increase in the fair value						25,000			17,000
2015 Convertible Loans
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of convertible loan notes outstanding | Note	5,000,000
Convertible notes price per unit | $ / Note	1
Increase in the fair value						$ 222,000			$ 127,000

Fair Value of Financial Instr24

Fair Value of Financial Instruments - Financial Instruments Recorded at Fair Value on Recurring Basis (Details) $ in Thousands	Dec. 31, 2016USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrant liability	$ 844
Recurring [Member] | Fair Value Level 3 | Warrant liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrant liability	844
Recurring [Member] | Fair Value Measurements | Fair Value Level 3 | Warrant liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrant liability	$ 844

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2017USD ($)ft²Time	Jun. 30, 2017SEKft²Time	Jun. 30, 2016USD ($)
IBAT- Inhibitor
Loss Contingencies [Line Items]
One-time, launch fee payment	$ 473,000	SEK 4,000,000
CROs
Loss Contingencies [Line Items]
Agreement on leases future minimum payments upon completion of contracted work	$ 6,000,000
Office Space
Loss Contingencies [Line Items]
Lease expiration date	Nov. 30, 2019	Nov. 30, 2019
Operating Lease Commitments
Loss Contingencies [Line Items]
Future minimum commitments under facility operating leases	$ 1,339,000
Rent expense	$ 185,000		$ 54,000
Operating Lease Commitments | Office Space | Albireo
Loss Contingencies [Line Items]
Building lease agreement term	36 months	36 months
Number of square feet | ft²	5,113	5,113
Operating leases periodic payment	$ 35,907	SEK 318,197
Operating leases renewal term	The current term of the lease expires in November 2019, but renews automatically thereafter for consecutive three-year terms unless notice of nonrenewal is given by either party at least nine months prior to the end of the then-current term, subject to Albireo AB’s right to terminate the lease at any time upon six months’ notice.	The current term of the lease expires in November 2019, but renews automatically thereafter for consecutive three-year terms unless notice of nonrenewal is given by either party at least nine months prior to the end of the then-current term, subject to Albireo AB’s right to terminate the lease at any time upon six months’ notice.
Automatic lease renewal term	3 years	3 years
Period of notice for non-renewal of lease	9 months	9 months
Period of notice for termination	6 months	6 months
Operating Lease Commitments | SHIGO 10 PO Owner LLC
Loss Contingencies [Line Items]
Term of lease	The initial term of the lease is 62 months beginning on March 1, 2017. Parent has the option to extend the lease one time for an additional 5-year period.	The initial term of the lease is 62 months beginning on March 1, 2017. Parent has the option to extend the lease one time for an additional 5-year period.
Number of option available to extend the lease period | Time	1	1
Additional period of lease	5 years	5 years
Rent abatement period	2 months	2 months
Monthly rent payments	$ 20,997
Annual increase rent payment percentage	2.00%
Operating Lease Commitments | SHIGO 10 PO Owner LLC | 10 Post Office Square, Boston, Massachusetts
Loss Contingencies [Line Items]
Rentable square feet | ft²	5,116

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Summary of Computation of Basic EPS and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Basic EPS:
Net income (loss)	$ (6,176)	$ 2,139	$ (12,847)	$ (1,100)
Denominator
Weighted average number of shares used for basic EPS computation	7,171,610	288,427	6,734,555	277,120
Basic EPS	$ (0.86)	$ 7.42	$ (1.91)	$ (3.97)
Denominator
Weighted average number of shares used for basic EPS computation	7,171,610	288,427	6,734,555	277,120
Conversion of convertible preferred shares		2,754,386
Weighted average effect of dilutive securities:
Warrants to purchase common stock		58,302
Number of shares used for Diluted EPS computation	7,171,610	3,101,115	6,734,555	277,120
Diluted EPS	$ (0.86)	$ 0.69	$ (1.91)	$ (3.97)

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Additional Information (Details)	Nov. 03, 2016	Jul. 13, 2016	Jun. 30, 2017
Earnings Per Share [Abstract]
Reverse stock split	0.033	0.06999	0.06999

Net Income (Loss) Per Share -28

Net Income (Loss) Per Share - Summary of Outstanding Shares Excluded from Computation of Diluted EPS (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Convertible Preference Shares (on an as-converted basis)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share				2,754,386
Warrants to Purchase Convertible Preference Shares (on an as-converted basis)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share		56,637		53,549
Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	767,662	151,370	767,662	76,517

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Income Tax [Line Items]
Income tax provisions or benefits	$ 0	$ 0	$ 0	$ 0
Deferred tax assets, valuation allowances	$ 53,300,000		$ 53,300,000		$ 53,300,000
Biodel
Income Tax [Line Items]
Tax year under examination			2,015

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($)	Nov. 03, 2016	Apr. 18, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options issued or granted					249,900
Stock-based compensation expense			$ 1,439,000	$ 55,000	$ 2,051,000	$ 55,000
Options, exercisable			277,292		277,292
Total unrecognized compensation expense related to unvested options			$ 7,400,000		$ 7,400,000
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average vesting period for unvested options					2 years 4 months 24 days
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options, exercisable			19,422		19,422
Common Stock | Performance Based Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options, non vested			19,422		19,422
Albireo Limited | Ordinary A Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options issued or granted		246,666
2016 Equity Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized under plan	635,000
Additional number of shares to be issued if awards outstanding under the 2010 Plan were cancelled, forfeited or expired on or after the Transaction	249,059

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Outstanding Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Summary of the stock option activity
Number of Shares Outstanding, Beginning Balance	694,869
Number of Shares, Granted	249,900
Number of Shares, Expirations	(48,680)
Number of Shares, Exercises	(6,666)
Number of Shares Outstanding, Ending Balance	889,423	694,869
Number of Shares, Exercisable	277,292
Number of Shares, Vested or expected to vest	870,001
Weighted Average Exercise Price Per Share Outstanding, Beginning Balance	$ 26.71
Weighted Average Exercise Price Per Share, Granted	19.21
Weighted Average Exercise Price Per Share, Expirations	175.10
Weighted Average Exercise Price Per Share, Exercises	9
Weighted Average Exercise Price Per Share Outstanding, Ending Balance	16.62	$ 26.71
Weighted Average Exercise Price Per Share Exercisable	21.55
Weighted Average Exercise Price Per Share Vested or expected to vest	$ 16.96
Outstanding, Weighted Average Remaining Contractual Term (Years)	8 years 7 months 2 days	7 years 4 months 6 days
Exercisable, Weighted Average Remaining Contractual Term (Years)	7 years
Vested or expected to vest, Weighted Average Remaining Contractual Term (Years)	8 years 7 months 2 days
Outstanding options, Aggregate Intrinsic Value	$ 6,435
Outstanding options, Aggregate Intrinsic Value	9,951	$ 6,435
Exercisable options, Aggregate Intrinsic Value	6,325
Vested or expected to vest options, Aggregate Intrinsic Value	$ 9,570

Stock-based Compensation - Su32

Stock-based Compensation - Summary of Estimated Fair Value of Stock Option Awards (Details) - Employee Stock Option	3 Months Ended	6 Months Ended
	Jun. 30, 2017$ / shares	Jun. 30, 2017$ / shares
Stock Based Compensation [Line Items]
Dividend rate	0.00%	0.00%
Minimum
Stock Based Compensation [Line Items]
Expected term (in years)	5 years 2 months 12 days	5 years 2 months 12 days
Risk-free interest rate	1.90%	1.90%
Expected volatility	69.50%	69.50%
Maximum
Stock Based Compensation [Line Items]
Expected term (in years)	6 years 8 months 12 days	6 years 8 months 12 days
Risk-free interest rate	2.10%	2.10%
Expected volatility	76.70%	78.40%
Common Stock | Minimum
Stock Based Compensation [Line Items]
Share price	$ 17.05	$ 17.05
Common Stock | Maximum
Stock Based Compensation [Line Items]
Share price	$ 23.82	$ 23.82

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total debt	$ 1,928	$ 3,075
Less: current portion	(1,928)	(3,075)
Long-term debt	0	0
Loan Facility
Debt Instrument [Line Items]
Total debt	$ 1,928	$ 3,075

Long-term Debt - Loan Facility

Long-term Debt - Loan Facility - Additional Information (Details) - Loan Facility	1 Months Ended		3 Months Ended		6 Months Ended
	Dec. 31, 2014USD ($)	Dec. 31, 2014EUR (€)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2017EUR (€)	Jun. 30, 2016USD ($)	Jun. 30, 2017EUR (€)	Feb. 04, 2016USD ($)	Feb. 04, 2016EUR (€)
Debt Instrument [Line Items]
Long-term debt, borrowed amount	$ 7,300,000	€ 6,000,000
Loan facility, term					36 months	36 months
Loan facility annual interest rate			11.50%		11.50%			11.50%
Loan facility, description					The Loan Facility has a term of 36 months with principal and interest payable monthly, with an annual interest rate of 11.5%. In addition, the Company is required to make an end-of-loan payment equal to 1.25% of the amounts lent by Kreos UK.	The Loan Facility has a term of 36 months with principal and interest payable monthly, with an annual interest rate of 11.5%. In addition, the Company is required to make an end-of-loan payment equal to 1.25% of the amounts lent by Kreos UK.
Long-term debt			$ 1,400,000		$ 1,400,000			€ 1,300,000
Loan facility, average monthly installments					289,000	€ 253,000
Loan payment on maturity date			765,000		$ 765,000			€ 670,000	$ 585,000	€ 512,000
Payable date					Dec. 1, 2017	Dec. 1, 2017
Debt discount			114,000		$ 114,000
Debt instrument remaining term discount accreted over loan period					6 months	6 months
Interest expense include discount accretion			$ 130,000	$ 239,000	$ 301,000		$ 472,000
Discount percentage on redeemable option					5.00%	5.00%
Minimum
Debt Instrument [Line Items]
Percentage of difference between original loans and amended loans per lender					10.00%	10.00%
Maximum
Debt Instrument [Line Items]
Debt instrument, effective interest rate percentage			39.30%		39.30%			39.30%

Derivatives - Summary of Fair V

Derivatives - Summary of Fair Value of Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Warrants liability					$ 844
Derivative Instruments Not Designated as Hedging Instruments | Warrants | Non-operating Income (Expense), Net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (Losses) recognized	$ 609	$ 956	$ 251	$ 765
Derivative Instruments Not Designated as Hedging Instruments | Derivative Liabilities | Non-operating Income (Expense), Net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (Losses) recognized		$ (247)		$ (145)
Derivative Instruments Not Designated as Hedging Instruments | Current Liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Warrants liability					$ 844

Financings - Additional Informa

Financings - Additional Information (Details) - May 2017 Underwritten Public Offering [Member] $ / shares in Units, $ in Millions	May 30, 2017USD ($)$ / sharesshares
Financings [Line Items]
Number of shares issued in transaction	2,530,000
Sale of stock, price per share | $ / shares	$ 20.50
Proceeds from sale of stock | $	$ 48.5
Option to purchase shares	330,000