Aerie Pharmaceuticals (AERI) 10-K 2 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 25, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	AERI
Entity Registrant Name	AERIE PHARMACEUTICALS INC
Entity Central Index Key	1,337,553
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		26,511,882
Entity Public Float			$ 298,090,000

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 91,060	$ 85,586
Short-term investments	45,502	54,339
Prepaid expenses and other current assets	1,865	1,122
Total current assets	138,427	141,047
Long-term investments	13,808	18,275
Furniture, fixtures and equipment, net	3,816	240
Other assets, net	3,076	273
Total assets	159,127	159,835
Current liabilities
Accounts payable and other current liabilities	16,565	8,336
Interest payable	551	551
Total current liabilities	17,116	8,887
Convertible notes, net of discounts and debt issuance costs	123,236	122,906
Total liabilities	$ 140,352	$ 131,793
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.001 par value; 15,000,000 shares authorized as of December 31, 2015 and December 31, 2014; None issued and outstanding	$ 0	$ 0
Common stock, $0.001 par value; 150,000,000 shares authorized as of December 31, 2015 and December 31, 2014; 26,458,495 and 24,018,577 shares issued and outstanding as of December 31, 2015 and December 31, 2014, respectively	26	24
Additional paid-in capital	236,492	171,326
Accumulated other comprehensive loss	(179)	(107)
Accumulated deficit	(217,564)	(143,201)
Total stockholders’ equity	18,775	28,042
Total liabilities and stockholders’ equity	$ 159,127	$ 159,835

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	26,458,495	24,018,577
Common stock, shares outstanding	26,458,495	24,018,577

Statements of Operations and Co

Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating expenses
General and administrative	$ (30,635)	$ (20,103)	$ (10,287)
Research and development	(44,451)	(29,869)	(11,883)
Loss from operations	(75,086)	(49,972)	(22,170)
Other income (expense), net	862	1,839	(8,978)
Net loss before income taxes	(74,224)	(48,133)	(31,148)
Income tax expense	(139)	0	0
Net loss before income taxes	(74,363)	(48,133)	(31,148)
Net loss attributable to common stockholders—basic and diluted	$ (74,363)	$ (48,133)	$ (31,598)
Net loss per share attributable to common stockholders—basic and diluted (in dollars per share)	$ (2.88)	$ (2)	$ (6.38)
Weighted average number of common shares outstanding—basic and diluted	25,781,230	24,086,651	4,955,760
Unrealized loss on available-for-sale investments	$ (72)	$ (107)	$ 0
Comprehensive loss	$ (74,435)	$ (48,240)	$ (31,148)

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	ADDITIONAL PAID-IN CAPITAL	ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED DEFICIT	CONVERTIBLE PREFERRED STOCK	COMMON STOCK
Beginning balance, shares at Dec. 31, 2012					12,120,531	964,880
Beginning balance, value at Dec. 31, 2012	$ (63,919)	$ 0	$ 0	$ (63,920)	$ 60,898	$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares						3,195
Exercise of stock options, value	1	1
Stock-based compensation	2,858	2,858
Accretion from conversion of note payable to related parties	(240)	(240)			240
Accretion of stock issuance costs	(210)	(210)			$ 210
Vesting of restricted stock, shares						124,966
Vesting of restricted stock	0
Conversion of convertible preferred stock to common stock, shares					(12,120,531)	12,120,531
Conversion of convertible preferred stock to common stock	61,348	61,336			$ (61,348)	$ 12
Conversion of convertible notes payable and accrued interest to common stock, shares						1,860,363
Conversion of convertible notes payable and accrued interest to common stock, value	18,604	18,602				$ 2
Issuance of common stock, shares						7,728,000
Issuance of common stock, value	68,226	68,218				$ 8
Issuance of common stock upon net exercise of warrants, shares						483,614
Issuance of common stock upon net exercise of warrants, value	4,896	4,896
Reclassification of warrants from liabilities to equity	6,560	6,560
Unrealized loss on available-for-sale investments	0
Net loss	(31,148)			(31,148)
Ending balance, shares at Dec. 31, 2013					0	23,285,549
Ending balance, value at Dec. 31, 2013	66,976	162,021	0	(95,068)	$ 0	$ 23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares						579,083
Exercise of stock options, value	9	8				$ 1
Stock-based compensation	9,178	9,178
Issuance of common stock upon exercise of stock purchase rights, shares						10,941
Issuance of common stock upon exercise of stock purchase rights, value	119	119
Accretion from conversion of note payable to related parties	0
Accretion of stock issuance costs	0
Vesting of restricted stock, shares						143,004
Vesting of restricted stock	0
Conversion of convertible notes payable and accrued interest to common stock, value	0
Reclassification of warrants from liabilities to equity	0
Unrealized loss on available-for-sale investments	(107)		(107)
Net loss	(48,133)			(48,133)
Ending balance, shares at Dec. 31, 2014					0	24,018,577
Ending balance, value at Dec. 31, 2014	$ 28,042	171,326	(107)	(143,201)	$ 0	$ 24
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares	297,763					296,716
Exercise of stock options, value	$ 1,282	1,282
Stock-based compensation	12,945	12,945
Issuance of common stock upon exercise of stock purchase rights, shares						5,029
Issuance of common stock upon exercise of stock purchase rights, value	96	96
Accretion from conversion of note payable to related parties	0
Accretion of stock issuance costs	0
Vesting of restricted stock, shares						69,249
Vesting of restricted stock	0
Conversion of convertible notes payable and accrued interest to common stock, value	0
Issuance of common stock, shares						1,754,556
Issuance of common stock, value	50,373	50,371				$ 2
Issuance of common stock upon net exercise of warrants, shares						314,368
Issuance of common stock upon net exercise of warrants, value	9	9
Reclassification of warrants from liabilities to equity	0
Excess tax benefit	463	463
Unrealized loss on available-for-sale investments	(72)		(72)
Net loss	(74,363)			(74,363)
Ending balance, shares at Dec. 31, 2015					0	26,458,495
Ending balance, value at Dec. 31, 2015	$ 18,775	$ 236,492	$ (179)	$ (217,564)	$ 0	$ 26

Statements of Stockholders' Eq6

Statements of Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	Oct. 30, 2013	Oct. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Underwriting discounts and commissions	$ 5,400
Offering costs	$ 3,600		$ 0	$ 0	$ 3,644
Common Stock
Underwriting discounts and commissions			$ 1,496		5,410
IPO
Underwriting discounts and commissions		$ 5,400
Offering costs		$ 3,600			$ 3,600

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net loss	$ (74,363)	$ (48,133)	$ (31,148)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	252	73	64
Amortization and accretion costs related to notes payable—related parties	0	0	3,207
Amortization of deferred financing costs and debt discount	305	77	0
Amortization and accretion of premium or discount on available-for-sale investments, net	570	416	0
Interest payable—related parties	0	0	588
Loss (gain) on conversion of notes payable	0	0	2,737
Stock-based compensation	12,945	9,178	2,858
Change in fair value measurements	0	0	3,717
Changes in operating assets and liabilities
Prepaid, current and other assets	(840)	(717)	(516)
Accounts payable and other current liabilities	5,385	4,829	2,045
Interest payable	0	551	0
Net cash used in operating activities	(55,746)	(33,726)	(16,448)
Cash flows from investing activities
Purchase of available-for-sale investments	(46,872)	(95,376)	0
Maturity of available-for-sale investments	55,785	20,739	0
Sale of available-for-sale investments	3,749	1,500	0
Purchase of furniture, fixtures and equipment	(3,280)	(181)	(63)
Net cash provided by (used in) investing activities	9,382	(73,318)	(63)
Cash flows from financing activities
Proceeds from sale of common stock, net of commissions	50,451	0	0
Proceeds from exercise of stock options	1,282	9	1
Proceeds from exercise of stock purchase rights	96	119	0
Proceeds from exercise of warrants	9	0	8
Payments of debt issuance costs	0	122,853	0
Payments of initial public offering costs	0	0	71,870
Proceeds from notes payable to related parties	0	0	(3,644)
Proceeds from notes payable to related parties	0	0	15,000
Net cash provided by financing activities	51,838	122,981	83,235
Net change in cash and cash equivalents	5,474	15,937	66,724
Cash and cash equivalents
Beginning of period	85,586	69,649	2,925
End of period	91,060	85,586	69,649
Supplemental disclosures
Interest paid	2,186	0	0
Income taxes paid	600	0	0
Non-cash financing activities
Conversion of preferred stock to common stock	0	0	61,348
Conversion of convertible notes payable and accrued interest to common stock	0	0	18,604
Issuance of common stock upon net exercise of warrants	0	0	4,888
Reclassification of warrants from liabilities to equity	0	0	6,560
Accretion from conversion of note payable to related parties	0	0	240
Accretion of stock issuance costs	0	0	210
Deferred costs from issuance of convertible notes	$ 0	$ 25	$ 0

The Company

The Company	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company Aerie Pharmaceuticals, Inc. (“Aerie”), with its wholly-owned subsidiaries Aerie Pharmaceuticals Limited and Aerie Pharmaceuticals Ireland Limited (“Aerie Limited” and “Aerie Ireland Limited”, respectively, together with Aerie, the “Company”), is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of small molecule products to treat patients with glaucoma and other diseases of the eye. The Company has its principal executive offices in Irvine, California and operates as one business segment. The Company has not yet commenced commercial operations and therefore has not generated product revenue. The Company’s activities since inception have primarily consisted of developing product candidates, raising capital and performing research and development activities. The Company does not expect to generate revenue until and unless it receives regulatory approval of and successfully commercializes its product candidates. The Company has incurred losses and experienced negative operating cash flows since inception. The Company has funded its operations primarily through the sale of equity securities and issuance of convertible notes. In October 2013, the Company completed its initial public offering (“IPO”) and issued 7,728,000 shares of its common stock at an IPO price of $10.00 per share, including 1,008,000 shares of common stock issued upon the exercise in full by the underwriters of their option to purchase additional shares to cover over-allotments. The Company received net proceeds from the IPO of approximately $68.3 million , after deducting underwriting discounts and commissions of $5.4 million and expenses of $3.6 million . On September 30, 2014, the Company issued $125.0 million aggregate principal amount of senior secured convertible notes (the “2014 Convertible Notes”). The Company received net proceeds from the issuance of the 2014 Convertible Notes of approximately $122.9 million , after deducting discounts and issuance costs of $2.1 million . Refer to Note 8 for further information regarding the 2014 Convertible Notes. On November 3, 2014, the Company filed a shelf registration statement on Form S-3 that permits: (i) the offering, issuance and sale by the Company of up to a maximum aggregate offering price of $150.0 million of the Company’s common stock; (ii) sales of common stock by certain selling stockholders; and (iii) the offering, issuance and sale by the Company of up to a maximum aggregate offering price of $50.0 million of the Company’s common stock that may be issued and sold under an “at-the-market” sales agreement with Cantor Fitzgerald & Co. The common stock that was offered, issued and sold by the Company under this “at-the-market” sales agreement was included in the $150.0 million of common stock that may be offered, issued and sold by the Company under the shelf registration statement. As of December 31, 2015 , the Company had no availability to issue shares under this “at-the-market” sales agreement. On November 6, 2015, the Company filed a prospectus supplement to the base prospectus dated November 10, 2014. The prospectus supplement permits the offering, issuance and sale by the Company of up to a maximum aggregate offering price of $50.0 million of the Company’s common stock that may be issued and sold by the Company under separate “at-the-market” sales agreements with RBC Capital Markets, LLC and Cantor Fitzgerald & Co. The common stock that may be offered, issued and sold by the Company under these “at-the-market” sales agreements is included in the $150.0 million of common stock that may be offered, issued and sold by the Company under the shelf registration statement. As of December 31, 2015 , $48.1 million remained available for issuance under these “at-the-market” sales agreements. For the year ended December 31, 2015 , the Company issued and sold 1,754,556 shares of common stock under the “at-the-market” sales agreements and received net proceeds of $50.5 million , after deducting commissions at a rate of up to 3% of the gross sales price per share sold and other fees and expenses. There were no sales of securities registered pursuant to the shelf registration statement for the year ended December 31, 2014 . In March 2015, the Company revised its corporate structure to align with its business strategy outside of North America by establishing Aerie Limited, a wholly-owned subsidiary organized under the laws of the Cayman Islands. In addition, Aerie assigned the beneficial rights to its non-U.S. and non-Canadian intellectual property to Aerie Limited (the “IP Assignment”). As part of the IP Assignment, Aerie and Aerie Limited entered into a research and development agreement and cost sharing agreement pursuant to which Aerie and Aerie Limited will share the costs of the development of intellectual property. Refer to Note 9 for a description of the tax impact of the IP Assignment. Additionally, in April 2015, the Company continued to prepare for foreign-based activities and established Aerie Ireland Limited as a wholly-owned subsidiary of Aerie Limited to develop and commercialize the beneficial rights of the intellectual property assigned as part of the IP Assignment pursuant to a license arrangement to be entered into between Aerie Limited and Aerie Ireland Limited. The Company is currently evaluating the possibility of constructing an Aerie manufacturing plant in Ireland. If the Company does not successfully commercialize any of its product candidates, it may be unable to generate product revenue or achieve profitability. Accordingly, the Company may be required to obtain further funding through other public or private offerings, debt financing, collaboration and licensing arrangements or other sources. Adequate additional funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to raise capital when needed or on attractive terms, it would be forced to delay, reduce or eliminate its research and development programs or commercialization efforts.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The Company’s consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Principles of Consolidation The consolidated financial statements include the accounts of Aerie and its wholly-owned subsidiaries. All intercompany accounts, transactions and profits have been eliminated in consolidation. 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 reported amounts of income and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the valuation of stock options and operating expense accruals. Actual results could differ from the Company’s estimates. Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one operating segment. Reverse Stock Split The Company effected a 1-for-5 reverse stock split on October 8, 2013. Accordingly, all share and per share amounts for all preceding periods presented in these consolidated financial statements and notes hereto, have been adjusted retroactively to reflect this reverse stock split, including reclassifying an amount equal to the reduction in par value to additional paid-in capital. Cash Equivalents Cash equivalents consist of short-term, highly liquid investments with an original term of three months or less at the date of purchase. Cash deposits are held by six financial institutions in the United States and two financial institutions in Europe. Concentration of Credit Risk The Company’s cash and cash equivalent balances with financial institutions exceed the $250,000 amount insured by the Federal Deposit Insurance Corporation. Debt Issuance Costs Debt issuance costs consist of financing costs incurred by the Company in connection with the closing of the 2014 Convertible Notes are included as a direct deduction from the carrying amount of the 2014 Convertible Notes on the Company’s consolidated balance sheets. In connection with the Company’s adoption of ASU 2015-03 in the fourth quarter of 2015, the Company reclassified $1.3 million from Other assets, net to a direct deduction from the carrying amount of the 2014 Convertible Notes on the consolidated balance sheet as of December 31, 2014. Refer to “ Recent Accounting Pronouncements ” for further information regarding the reclassification. The Company amortizes debt issuance costs through the earlier of maturity or the conversion of the 2014 Convertible Notes using the effective interest method. Refer to Note 8 for further information regarding the 2014 Convertible Notes. Debt Discounts Debt discounts consist of fees and expenses incurred by the Company in connection with the closing of the Company’s 2014 Convertible Notes that were paid directly to the note holders. The Company amortizes debt discounts through the earlier of maturity or the conversion of the 2014 Convertible Notes using the effective interest method. Refer to Note 8 for further information regarding the 2014 Convertible Notes. Furniture, Fixtures and Equipment, Net Furniture, fixtures and equipment is recorded at historical cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets. Repairs and maintenance are expensed when incurred. Upon retirement or sale, the cost of the assets disposed of and the related accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the determination of net income. Software Capitalization The Company capitalizes certain costs incurred in connection with obtaining or developing internal-use software including external direct costs of materials and services involved with the software development. Capitalized software costs are included in Furniture, fixtures, and equipment and are amortized over a period of three years beginning when the software project is substantially complete and the asset is ready for its intended use. Costs incurred during the preliminary project stage and post-implementation stage, as well as maintenance and training costs, are expensed as incurred. Research and Development Costs Research and development costs are charged to expense as incurred and include, but are not limited to: • Employee-related expenses including salaries, benefits, travel and stock-based compensation expense for research and development personnel; • expenses incurred under agreements with contract research organizations (“CROs”), contract manufacturing organizations and service providers that assist in conducting clinical and preclinical studies; • costs associated with preclinical activities and development activities; • costs associated with regulatory operations; and • depreciation expense for assets used in research and development activities. Costs for certain development activities, such as clinical studies, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided to the Company by its vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the patterns of costs incurred, and are reflected in the consolidated financial statements as prepaid expenses or accrued expenses as deemed appropriate. No material adjustments to these estimates have been recorded in these consolidated financial statements. Stock-Based Compensation Compensation cost of stock-based awards granted to employees is measured at grant date, based on the estimated fair value of the award. The Company estimates the fair value of stock options using a Black-Scholes option pricing model. Compensation cost for options granted to non-employees is determined as the fair value of consideration received or the fair value of the equity instruments issued, whichever is more reliably measured. The fair value of restricted stock awards (“RSAs”) is determined based on the fair value of the Company’s common stock on the date of grant. Stock-based compensation costs are expensed on a straight-line basis (net of estimated forfeitures) over the relevant vesting period. The fair value of unvested awards granted to non-employees is re-measured each period until the related service is complete. Compensation expense for employee stock purchase plan rights (“stock purchase rights”) is measured and recognized on the date that the Company becomes obligated to issue shares of common stock and is based on the difference between the fair value of the Company’s common stock and the purchase price on such date. All stock-based compensation expense is recorded between general and administrative and research and development costs in the consolidated statements of operations based upon the underlying employees roles within the Company. As a result of the taxable gain recognized in connection with the IP Assignment, the Company utilized certain net operating losses, including $462,978 in excess tax benefits related to stock-based compensation, to offset taxable income. In accordance with ASC 718, this excess tax benefit was recorded in additional paid-in capital for the year ended December 31, 2015 . No excess tax benefits related to stock-based compensation were recognized for the years ended December 31, 2014 or 2013 . Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase. The Company’s investments are comprised of certificates of deposit, commercial paper, corporate bonds and government agency securities that are classified as available-for-sale in accordance with ASC 320, Investments—Debt and Equity Securities. The Company classifies investments available to fund current operations as current assets on its consolidated balance sheets. Investments are classified as long-term assets on the consolidated balance sheets if (i) the Company has the intent and ability to hold the investments for a period of at least one year and (ii) the contractual maturity date of the investments is greater than one year. Available-for-sale investments are recorded at fair value, with unrealized gains or losses included in Accumulated other comprehensive gain (loss) on the Company’s consolidated balance sheets. Realized gains and losses are determined using the specific identification method and are included as a component of Other income (expense), net (Note 3). There were no realized gains or losses recognized for the years ended December 31, 2015 , 2014 or 2013 . The Company reviews investments for other-than-temporary impairment whenever the fair value of an investment is less than the amortized cost and evidence indicates that an investment’s carrying amount is not recoverable within a reasonable period of time. To determine whether an impairment is other-than-temporary, the Company considers its intent to sell, or whether it is more likely than not that the Company will be required to sell the investment before recovery of the investment’s amortized cost basis. Evidence considered in this assessment includes reasons for the impairment, the severity and the duration of the impairment and changes in value subsequent to period end. As of December 31, 2015 , there were no investments with a fair value that was significantly lower than the amortized cost basis or any investments that had been in an unrealized loss position for a significant period. Fair Value Measurements The Company records certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair value of the Company’s financial instruments, including cash and cash equivalents, short-term investments, other current assets, accounts payable and accrued expenses approximate their respective carrying values due to the short-term nature of these instruments. The carrying amounts of long-term investments represent their estimated fair values. The estimated fair value of the 2014 Convertible Notes was $140.1 million and $163.8 million as of December 31, 2015 and 2014 , respectively (Note 5). As of December 31, 2015 and 2014 , all outstanding warrants are classified as equity and are recorded within additional paid-in capital on the consolidated balance sheets (Note 12). Stock Purchase Warrants The Company accounts for its stock purchase warrants as either equity or liabilities based upon the characteristics and provisions of the underlying instruments. Warrants classified as equity are recorded at their fair value on the date of issuance as additional paid-in capital on the consolidated balance sheets and no further adjustments are made to their valuation. Warrants classified as liabilities are recorded at their fair value on the date of issuance and are re-measured on each subsequent balance sheet date until the earlier of the exercise or expiration of the applicable warrants or until such time that the warrants are no longer determined to be derivative instruments. The fair value changes are recognized as income (decreases in fair value) or expense (increases in fair value) in Other income (expense), net in the consolidated statements of operations and comprehensive loss. The fair value of these liabilities is estimated using the Black-Scholes method, which, under the Company’s facts and circumstances, approximates, in all material respects, the values determined when using a Monte Carlo simulation. Comprehensive Loss Comprehensive loss is comprised of net loss and other comprehensive loss. Other comprehensive loss includes changes in stockholders’ equity that are excluded from net income (loss), specifically changes in unrealized gains and losses on the Company’s available-for-sale securities. Income Taxes Deferred tax assets or liabilities are recorded for temporary differences between financial statement and tax basis of assets and liabilities, using enacted rates in effect for the year in which the differences are expected to reverse. The Company recognizes the impact of an uncertain tax position in the consolidated financial statements only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities. The Company’s policy is to record interest and penalties on uncertain tax positions as income tax expense. The Company did not recognize interest or penalties on uncertain tax positions for the years ended December 31, 2015 , 2014 or 2013 . As of December 31, 2015 and 2014 , the Company had no uncertain tax positions and no interest or penalties were accrued for any uncertain tax positions. Tax Valuation Allowance A valuation allowance is recorded if it is more likely than not that a deferred tax asset will not be realized. The Company has provided a full valuation allowance on its deferred tax assets that consist of federal and state net operating losses, stock based compensation and tax credits. Due to the Company’s three year cumulative loss position, history of operating losses and lack of available evidence supporting future taxable income, the Company believes that a valuation allowance on its deferred tax assets as of December 31, 2015 remains appropriate. Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (the “FASB”) issued ASU 2015-17, which requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The guidance is effective for annual periods beginning after December 15, 2016, and all annual and interim periods thereafter, with early adoption permitted. The Company early adopted this guidance for the year ended December 31, 2015. The adoption of this guidance, which was applied retrospectively did not have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt, consistent with the presentation of a debt discount. The guidance is effective for annual periods beginning after December 15, 2015, and all annual and interim periods thereafter. As permitted, the Company early adopted this guidance for the year ended December 31, 2015. The adoption of this guidance, which was applied retrospectively and impacted consolidated balance sheet presentation only, resulted in a reclassification of $1.3 million from Other assets, net to a direct deduction from the carrying amount of the 2014 Convertible Notes on the consolidated balance sheet as of December 31, 2014. In August 2014, the FASB issued ASU 2014-15, which provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for the Company for the annual period ending after December 15, 2016 and for annual and interim periods thereafter, with early adoption permitted. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements. Net Loss per Share Attributable to Common Stock Basic net loss per share attributable to common stock (“Basic EPS”) is calculated by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period, without consideration for potentially dilutive securities with the exception of warrants for common stock with a $0.05 exercise price, which are exercisable for nominal consideration, and shares that are unequivocally issuable under the Company’s employee stock purchase plan and are therefore included in the calculation of the weighted-average number of shares of common stock as common stock equivalents. Net loss attributable to common stockholders for the year ended December 31, 2013 is calculated by adjusting the Company’s net loss for accretion on convertible preferred stock. Diluted net loss per share attributable to common stock (“Diluted EPS”) gives effect to all dilutive potential shares of common stock outstanding during this period. For Diluted EPS, net loss attributable to common stockholders used in calculating Basic EPS is adjusted for certain items related to the dilutive securities. For all periods presented, the Company’s potential common stock equivalents have been excluded from the computation of Diluted EPS as their inclusion would have the effect of reducing the net loss per share of common stock. Therefore, the denominator used to calculate Basic EPS and Diluted EPS is the same in all periods presented. The Company’s potential common stock equivalents that have been excluded from the computation of Diluted EPS for all periods presented consist of the following: DECEMBER 31, 2015 2014 2013 2014 Convertible Notes (1) 5,040,323 5,040,323 — Outstanding stock options 4,583,586 3,826,459 3,189,660 Stock purchase warrants 157,500 309,506 309,506 Restricted common stock awards 119,993 103,064 246,068 (1) Conversion is limited to a 9.985% ownership cap in shares of common stock by the holder. In addition to the common stock equivalents presented above, the 2014 Convertible Notes provide for an increase in the conversion rate if conversion is elected in connection with a significant corporate transaction. Refer to Note 8 for further information regarding the 2014 Convertible Notes.

Other Income (Expense), Net

Other Income (Expense), Net	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Other Income (Expense), Net	Other Income (Expense), Net Other income (expense), net consists of the following: YEAR ENDED DECEMBER 31, (in thousands) 2015 2014 2013 Interest and amortization expense $ (2,493 ) $ (628 ) $ (3,795 ) Sale of New Jersey state tax benefit 2,898 2,288 1,268 Investment and other income, net 457 179 3 Expense due to change in fair value measurements (1) — — (3,717 ) Loss on conversion of notes payable to related parties — — (2,737 ) $ 862 $ 1,839 $ (8,978 ) (1) Includes change in fair value of warrant liabilities and change in fair value of a certain conversion feature related to the 2012 Notes (as defined herein) that was determined to be an embedded derivative requiring bifurcation and separate accounting. See Note 12 and Note 8, respectively.

Investments

Investments	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Cash, cash equivalents and investments as of December 31, 2015 included the following: GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR (in thousands) COST GAINS LOSSES VALUE Cash and cash equivalents: Cash and money market accounts $ 91,060 $ — $ — $ 91,060 Total cash and cash equivalents $ 91,060 $ — $ — $ 91,060 Investments: Certificates of deposit (due within 1 year) $ 13,611 $ 1 $ (7 ) $ 13,605 Certificates of deposit (due within 2 years) 4,760 — (10 ) 4,750 Commercial paper (due within 1 year) 5,977 — (11 ) 5,966 Corporate bonds (due within 1 year) 24,002 — (65 ) 23,937 Corporate bonds (due within 2 years) 9,142 — (84 ) 9,058 Government agencies (due within 1 year) 1,997 — (3 ) 1,994 Total investments $ 59,489 $ 1 $ (180 ) $ 59,310 Total cash, cash equivalents, and investments $ 150,549 $ 1 $ (180 ) $ 150,370 Cash, cash equivalents and investments as of December 31, 2014 included the following: GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR (in thousands) COST GAINS LOSSES VALUE Cash and cash equivalents: Cash and money market accounts $ 84,613 $ — $ — $ 84,613 Certificates of deposit 472 — — 472 Corporate bonds 501 — — 501 Total cash and cash equivalents $ 85,586 $ — $ — $ 85,586 Investments: Certificates of deposit (due within 1 year) $ 25,823 $ — $ (9 ) $ 25,814 Certificates of deposit (due within 2 years) 4,429 1 (3 ) 4,427 Commercial paper (due within 1 year) 5,988 1 (3 ) 5,986 Corporate bonds (due within 1 year) 16,487 — (24 ) 16,463 Corporate bonds (due within 2 years) 13,912 — (64 ) 13,848 Government agencies (due within 1 year) 6,082 — (6 ) 6,076 Total investments $ 72,721 $ 2 $ (109 ) $ 72,614 Total cash, cash equivalents, and investments $ 158,307 $ 2 $ (109 ) $ 158,200

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company records certain financial assets and liabilities at fair value in accordance with the provisions of ASC Topic 820 on fair value measurements. As defined in the guidance, fair value, defined as an exit price, represents the amount that would be received to sell an asset or pay to transfer a liability in an orderly transaction between market participants. As a result, fair value is a market-based approach that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering these assumptions, the guidance defines a three-tier value hierarchy that prioritizes the inputs used in the valuation methodologies in measuring fair value. • Level 1—Unadjusted quoted prices in active, accessible markets for identical assets or liabilities. • Level 2—Other inputs that are directly or indirectly observable in the marketplace. • Level 3—Unobservable inputs that are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following tables summarize the fair value of financial assets and liabilities that are measured at fair value and the classification by level of input within the fair value hierarchy: FAIR VALUE MEASUREMENTS AS OF DECEMEBER 31, 2015 (in thousands) LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Cash and cash equivalents: Cash and money market accounts $ 91,060 $ — $ — $ 91,060 Total cash and cash equivalents: $ 91,060 $ — $ — $ 91,060 Investments: Certificates of deposit $ — $ 18,355 $ — $ 18,355 Commercial paper — 5,966 — 5,966 Corporate bonds — 32,995 — 32,995 Government agencies — 1,994 — 1,994 Total investments $ — $ 59,310 $ — $ 59,310 Total cash, cash equivalents, and investments: $ 91,060 $ 59,310 $ — $ 150,370 FAIR VALUE MEASUREMENTS AS OF DECEMEBER 31, 2014 (in thousands) LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Cash and cash equivalents: Cash and money market accounts $ 84,613 $ — $ — $ 84,613 Certificates of deposit — 472 — 472 Corporate bonds — 501 — 501 Total cash and cash equivalents: $ 84,613 $ 973 $ — $ 85,586 Investments: Certificates of deposit $ — $ 30,241 $ — $ 30,241 Commercial paper — 5,986 — 5,986 Corporate bonds — 30,311 — 30,311 Government agencies — 6,076 — 6,076 Total investments $ — $ 72,614 $ — $ 72,614 Total cash, cash equivalents, and investments: $ 84,613 $ 73,587 $ — $ 158,200 As of December 31, 2015 and 2014 , the estimated fair value of the 2014 Convertible Notes was $140.1 million and $163.8 million , respectively. The estimated fair value of the 2014 Convertible Notes was determined using a scenario analysis and Monte Carlo simulation model to capture the various features of the 2014 Convertible Notes. The scenario analysis and Monte Carlo simulation require the use of Level 3 unobservable inputs and subjective assumptions, including but not limited to the probability of conversion, stock price volatility, the risk free interest rate and credit spread. The decrease in the estimated fair value of the 2014 Convertible Notes was primarily attributable to the change in the closing price of Aerie’s common stock on December 31, 2015 as compared to December 31, 2014 . The estimates presented are not necessarily indicative of amounts that could be realized in a current market exchange. The use of alternative market assumptions and estimation methodologies could have a material effect on these estimates of fair value.

Furniture, Fixtures and Equipme

Furniture, Fixtures and Equipment, Net	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Furniture, Fixtures and Equipment, Net	Furniture, Fixtures and Equipment, Net Furniture, fixtures and equipment, net consists of the following: (in thousands) ESTIMATED USEFUL LIVES (YEARS) DECEMBER 31, 2015 2014 Manufacturing equipment 10 $ 988 $ — Laboratory equipment 7 1,619 830 Software and computer equipment 3 1,695 195 Furniture and fixtures 5 491 238 Leasehold improvements Term of lease 298 — $ 5,091 $ 1,263 Less: Accumulated depreciation (1,275 ) (1,023 ) $ 3,816 $ 240 Depreciation expense was $252,000 , $73,000 and $64,000 for the years ended December 31, 2015 , 2014 and 2013 , respectively.

Accounts Payable & Other Curren

Accounts Payable & Other Current Liabilities	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable & Other Current Liabilities	Accounts Payable & Other Current Liabilities Accounts payable and other current liabilities consist of the following: DECEMBER 31, (in thousands) 2015 2014 Accounts payable $ 1,629 $ 2,068 Accrued expenses and other liabilities: Employee benefits and compensation related accruals (1) 3,085 2,257 General and administrative related accruals (2) 2,389 731 Research and development related accruals (3) 7,741 3,280 Accrued income taxes (4) 1,721 — $ 16,565 $ 8,336 (1) Comprised of accrued bonus, accrued vacation, accrued severance liabilities and liabilities under the Company’s employee stock purchase plan. (2) Comprised of accruals such as outside professional fees and other business related expenses. (3) Comprised of accruals such as fees for investigative sites, CROs, contract manufacturing organizations and other service providers that assist in conducting preclinical and clinical trials. (4) Accrued income taxes are the result of the taxable gain from the IP Assignment. Refer to Note 9 for a description of the tax impact of the IP Assignment.

Convertible Notes

Convertible Notes	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Convertible Notes	Convertible Notes On September 30, 2014, Aerie issued the 2014 Convertible Notes to Deerfield Partners, L.P., Deerfield International Master Fund, L.P., Deerfield Private Design Fund III, L.P., Deerfield Special Situations Fund, L.P. and Deerfield Special Situations International Master Fund, L.P. (collectively, “Deerfield”). On January 1, 2015, Deerfield Special Situations International Master Fund, L.P. transferred all of its rights under the 2014 Convertible Notes to Deerfield Special Situations Fund, L.P. The 2014 Convertible Notes bear interest at a rate of 1.75% per annum payable quarterly in arrears on the first business day of each January, April, July and October. The 2014 Convertible Notes mature on the seventh anniversary from the date of issuance, unless earlier converted. The 2014 Convertible Notes constitute a senior secured obligation of Aerie, collateralized by a first priority security interest in substantially all of the assets of Aerie. The 2014 Convertible Notes provide that, upon the request of Aerie, Deerfield will release all of the liens on the collateral if both of the following occur: (i) beginning one month after FDA approval of either Rhopressa TM or Roclatan TM , shares of Aerie’s common stock have traded at a price above $30 per share (subject to adjustment for any subdivision or combination of outstanding common stock) for 30 consecutive trading days, and (ii) Aerie is prepared to close a financing that will be secured by a lien on Aerie’s assets, subject only to the release of the lien on Aerie’s assets held by Deerfield. In connection with the IP Assignment, Aerie granted Deerfield a security interest in an intercompany promissory note and pledged 65% of the voting stock of Aerie Limited. Upon the request of Aerie, Deerfield will release the lien on the intercompany promissory note under certain circumstances. At closing, Aerie paid Deerfield a one-time transaction fee of $625,000 . In addition, Aerie reimbursed Deerfield in the amount of $250,000 for certain expenses incurred by Deerfield in connection with the transaction. Aerie also incurred $1.3 million of legal and advisory fees in connection with the transaction. The 2014 Convertible Notes are convertible at any time at the option of Deerfield, in whole or in part, into shares of common stock, including upon the repayment of the 2014 Convertible Notes at maturity (the “Conversion Option”). However, upon conversion, Deerfield (together with their affiliates) is limited to a 9.985% ownership cap in shares of common stock (the “ 9.985% Cap”). The 9.985% Cap would remain in place upon any assignment of the 2014 Convertible Notes by Deerfield. The initial conversion price is $24.80 per share of common stock (equivalent to an initial conversion rate of 40.32 shares of common stock per $1,000 principal amount of 2014 Convertible Notes), representing a 30% premium over the closing price of the common stock on September 8, 2014. The conversion rate and the corresponding conversion price are subject to adjustment for stock dividends (other than a dividend for which Deerfield would be entitled to participate on an as-converted basis), stock splits, reverse stock splits and reclassifications. In addition, in connection with certain significant corporate transactions, Deerfield, at its option, may (i) require Aerie to prepay all or a portion of the principal amount of the 2014 Convertible Notes, plus accrued and unpaid interest, or (ii) convert all or a portion of the principal amount of the 2014 Convertible Notes into, depending upon the type of transaction, shares of common stock or the right to receive upon consummation of the transaction the consideration Deerfield would have received had Deerfield converted the 2014 Convertible Notes immediately prior to the consummation of the transaction. The 2014 Convertible Notes provide for an increase in the conversion rate if Deerfield elects to convert their 2014 Convertible Notes in connection with a significant corporate transaction. The current maximum increase to the initial conversion rate, in connection with a significant corporate transaction, is 12.07 shares of common stock per $1,000 principal amount of 2014 Conversion Notes, which decreases over time and is determined by reference to the price of the common stock prior to the consummation of the significant corporate transaction or the value of the significant corporate transaction. The agreement governing the 2014 Convertible Notes contains various representations and warranties, and affirmative and negative covenants, customary for financings of this type, including restrictions on the incurrence of additional debt and liens on Aerie’s assets. As of December 31, 2015 , Aerie was in compliance with the covenants. The agreement governing the 2014 Convertible Notes also provides for certain events of default, including the failure to pay principal and interest when due; inaccuracies in Aerie’s representations and warranties to Deerfield; failure to comply with any of the covenants; Aerie’s insolvency or the occurrence of certain bankruptcy-related events; certain judgments against Aerie; the suspension, cancellation or revocation of governmental authorizations that are reasonably expected to have a material adverse effect on Aerie’s business; the acceleration of a specified amount of indebtedness; and the failure to deliver shares of common stock upon conversion of the 2014 Convertible Notes. If any event of default were to occur, and continue beyond any applicable cure period, the holders of more than 50% of the aggregate principal amount of the then outstanding 2014 Convertible Notes would be permitted to declare the principal and accrued and unpaid interest to be immediately due and payable. The Company recorded the 2014 Convertible Notes as long-term debt at face value less debt discounts relating to fees and certain expenses paid to Deerfield in connection with the transaction. The Conversion Option is a derivative that qualifies for an exemption from bifurcation and liability accounting as provided for in ASC Topic 815, Derivatives and Hedging – Contracts in Entity’s Own Equity (“ASC 815”). Since the Conversion Option is not bifurcated as a derivative pursuant to ASC 815, the Company further evaluated the Conversion Option to determine whether it is considered a beneficial conversion feature (“BCF”). The Company determined that the initial accounting conversion price was greater than the fair value of the common stock at the close of trading on the date of issuance, therefore no BCF existed at inception. However, if Deerfield elects to convert their 2014 Convertible Notes in connection with a significant corporate transaction, the increase to the initial conversion rate may cause a contingent BCF to exist at the time of conversion. The contingent BCF, if any, will be recognized in earnings when the contingency is resolved and will be measured using the fair value of the common stock at the close of trading on the date of issuance and the accounting conversion price as adjusted for such an increase to the initial conversion rate. As of December 31, 2015 , the Company recognized unamortized debt discounts and debt issuance costs of $1.8 million . Debt discounts and debt issuance costs are amortized using the effective interest method through the earlier of maturity or the conversion of the 2014 Convertible Notes. The table below summarizes the carrying value of the 2014 Convertible Notes as of December 31, 2015 : (in thousands) DECEMBER 31, 2015 Gross proceeds $ 125,000 Initial value of issuance costs recorded as debt discount (2,146 ) Amortization of debt discount and issuance costs 382 Carrying value $ 123,236 For the years ended December 31, 2015 and 2014 , interest expense related to the 2014 Convertible Notes was $2.2 million and $551,000 , respectively. On December 7, 2012, the Company authorized the sale of convertible notes (the “2012 Notes”) to related parties in the aggregate principal amount of $15.0 million . The 2012 Notes accrued interest at a rate of 8% per annum, with principal plus accrued interest thereon due upon maturity at September 30, 2013. The initial closing comprised of five individual convertible notes with an aggregate principal balance of $3.0 million . As of December 31, 2012, $12.0 million of 2012 Notes were authorized and available for sale. On March 28, 2013, May 23, 2013 and August 9, 2013, the Company completed the second, third and fourth closing of the 2012 Notes, respectively. The closings each comprised of five individual convertible notes with aggregate principal balances of $3.0 million , $4.5 million , and $4.5 million , respectively. On August 9, 2013, the Company amended the agreements relating to the 2012 Notes. The amendment authorized the sale of an additional $3.0 million of the 2012 Notes, resulting in an aggregate principal amount of $18.0 million being authorized. In addition, the amendment extended the maturity date of the 2012 Notes from September 30, 2013 to December 31, 2013 and the issuance period through November 30, 2013. No other terms and conditions of the agreements were changed as part of the amendment. In accordance with ASC 470 Debt, the amendment met the criteria of a troubled debt restructuring and the amortization of the debt discount was revised to align with a new effective interest rate determined as of the amendment date. No gain was recorded as part of the restructuring. On September 30, 2013, the Company completed the fifth closing of the 2012 Notes. Aggregate proceeds to the Company were $3.0 million . On October 30, 2013, upon closing of the IPO, the principal and accrued interest outstanding under the 2012 Notes were converted into 1,860,363 shares of common stock at a conversion price equal to the IPO price of $10.00 per share. The Company accounted for the conversion as an extinguishment of debt. In connection with the issuance of the 2012 Notes, the Company determined that a certain conversion feature was an embedded derivative requiring bifurcation and separate accounting. To estimate the fair value, the Company compared the net present value of expected cash flows of the issued 2012 Notes with and without the conversion feature comprising the embedded derivative. The Company determined that the fair value of the embedded derivative was immaterial as of August 9, 2013, May 23, 2013, March 28, 2013 and December 7, 2012, representing the fourth, third, second and initial closing dates, and as of December 31, 2012. As of September 30, 2013, the fair value of the embedded derivative was $96,000 . The Company determined that upon the closing of the IPO on October 30, 2013, at which time the 2012 Notes were converted into common stock, no embedded derivative existed. The Company recorded the change in fair value as a component of Other income (expense), net.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes is based on net loss before income taxes as follows: DECEMBER 31, (in thousands) 2015 2014 2013 Net loss before income taxes: United States $ (59,211 ) $ (48,133 ) $ (31,148 ) Other (15,013 ) — — Net loss before income taxes $ (74,224 ) $ (48,133 ) $ (31,148 ) The components of the provision for income taxes are as follows: DECEMBER 31, (dollars in thousands) 2015 2014 2013 Provision for income taxes: Current: United States $ 139 $ — $ — Other — — — Total $ 139 $ — $ — Deferred: United States $ — $ — $ — Other — — — Total — — — Provision for income taxes $ 139 $ — $ — Effective tax rate (0.19 )% — % — % Significant components of the Company’s net deferred income tax assets as of December 31, 2015 and 2014 consist of the following: DECEMBER 31, (in thousands) 2015 2014 Net deferred tax assets: Net operating loss carry-forwards $ 6,335 $ 42,863 Share based compensation 7,231 3,249 U.S. tax credit carry-forwards 3,823 631 Other assets 1,488 1,633 Other liabilities (696 ) (693 ) Valuation allowance (18,181 ) (47,683 ) Total net deferred income taxes $ — $ — A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 31, 2015 , 2014 and 2013 is as follows: DECEMBER 31, 2015 2014 2013 U.S. federal tax rate 35.00 % 35.00 % 35.00 % State income taxes, net of federal benefit (0.90 )% 6.13 % 5.36 % Taxable gain resulting from IP Assignment (75.31 )% — % — % Non-taxable foreign loss (6.98 )% — % — % Tax deferral from IP Assignment 3.56 % — % — % Other 0.02 % (0.04 )% (0.03 )% Valuation allowance 44.42 % (41.09 )% (40.33 )% Effective tax rate (0.19 )% — % — % In January 2015, the Company participated in the New Jersey Economic Development Authority’s Sponsored Technology Business Tax Certificate Transfer Program to transfer $3.1 million in state tax benefits to unrelated profitable businesses with operations in the state of New Jersey. The Company received net proceeds of $2.9 million from the transfer. The IP Assignment resulted in the recognition of a taxable gain for U.S. federal and state income tax purposes. As of December 31, 2015 , the estimated income tax liability was $1.7 million after utilization of net operating loss carry-forwards, current year losses generated through December 31, 2015 and quarterly estimated payments made through December 31, 2015 . Under ASC 810, Consolidation, the income tax expense of $2.8 million for the year ended December 31, 2015 was recorded as a prepaid asset. In accordance with ASC 810, Consolidation, the estimated prepaid asset will be amortized into income tax expense over the estimated remaining patent life of the intellectual property subject to the IP Assignment, through approximately 2030. For the year ended December 31, 2015 , the Company recognized $139,000 of income tax expense related to the amortization of the prepaid asset. Largely as a result of the IP Assignment, the Company reversed approximately $29.5 million of its valuation allowance on certain deferred tax assets, primarily federal and state net operating losses, as of December 31, 2015 . Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carry-forward period. Due to the Company’s history of operating losses and lack of available evidence supporting future taxable income, the Company believes that a valuation allowance on its remaining deferred tax assets as of December 31, 2015 remains appropriate. In addition, the IP Assignment is subject to complex tax and transfer pricing regulations administered by taxing authorities in various jurisdictions. The relevant taxing authorities may disagree with the Company’s determinations as to the income and expenses attributable to specific jurisdictions. If such a disagreement were to occur, and the Company’s position were not sustained, the Company could be required to pay additional taxes, interest and penalties, which could result in one-time tax charges, higher effective tax rates and reduced cash flows than otherwise would be expected. It is Aerie’s intention to reinvest the earnings of Aerie Limited and Aerie Ireland Limited in those operations. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. Aerie Limited and Aerie Ireland Limited have incurred losses and experienced negative operating cash flows since inception, and as such, Aerie has not recognized a deferred tax liability related to its investment in either subsidiary as of December 31, 2015 . As of December 31, 2015 , the Company had federal and state net operating loss carry-forwards of approximately $61.1 million , which expire from 2024 through 2034 . Included in the net operating loss carry-forwards are approximately $4.0 million of net operating loss carry-forwards related to exercises of stock-based awards, the tax benefit from which, if realized, will be credited to additional paid-in capital. Net operating loss and tax credit carry-forwards are subject to review and possible adjustment by the Internal Revenue Service and state tax authorities and may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant stockholders over a three -year period in excess of 50% , as defined under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, as well as similar state provisions. This could limit the amount of tax attributes that can be utilized annually to offset future taxable income or tax liabilities. Certain transactions occurred in 2015 and prior years that resulted in ownership changes which will limit the future use of certain federal and state net operating loss and credit carry-forwards. Those federal and state net operating losses and credits that are not limited are included as deferred tax assets and have been fully offset by a valuation allowance as of December 31, 2015 , as the Company believes, based on our history of operating losses, it is more likely than not that the tax benefits will not be realized.

Convertible Preferred Stock

Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Convertible Preferred Stock	Convertible Preferred Stock On October 30, 2013, immediately prior to the closing of the Company’s IPO, all outstanding shares of convertible preferred stock automatically were converted into an aggregate of 12,120,531 shares of common stock. As of December 31, 2015 and December 31, 2014 , no convertible preferred stock was authorized, issued or outstanding. Carrying Value On February 23, 2011, the Company received $23.8 million in proceeds from the issuance of its Series B Convertible Preferred Stock, net of $1.2 million of transaction costs. The convertible preferred stock was originally recorded at the net proceeds received by the Company at issuance. The difference between the net proceeds and the total redemption price was being accreted on a straight-line basis over the period from issuance until the earliest redemption date and was accreted to the convertible preferred stock capital account through the completion of the IPO. Accretion amounted to $210,000 for the year ended December 31, 2013 . On February 23, 2011, the Company issued the Series A-4 Convertible Preferred Stock in connection with the conversion of a series of convertible notes. The issuance was recorded at fair value. The difference between stated and fair value of $1.3 million was being accreted on a straight-line basis of the period from February 23, 2011 until the earliest redemption date and was accreted to the Series A-4 Convertible Preferred Stock capital account through the completion of the IPO. Accretion amounted to $240,000 for the year ended December 31, 2013 . The Company determined that the straight-line method approximated the effective interest method.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholders' Equity (Deficit)	Stockholders’ Equity (Deficit) On October 30, 2013, the Company completed its IPO and issued 7,728,000 shares of its common stock at an IPO price of $10.00 per share, including 1,008,000 shares of common stock issued upon the exercise in full by the underwriters of their option to purchase additional shares to cover over-allotments. The shares began trading on the NASDAQ Global Market on October 25, 2013. The Company received net proceeds from the IPO of approximately $68.3 million , after deducting underwriting discounts and commissions of $5.4 million and expenses of $3.6 million . In connection with the IPO, the following events occurred: • On October 24, 2013, 297,366 warrants to purchase convertible preferred stock were net exercised and were subsequently automatically converted into 297,366 shares of common stock on October 30, 2013 (Note 12); • On October 30, 2013, 186,248 warrants to purchase convertible preferred stock were net exercised and were subsequently automatically converted into 186,248 shares of common stock on October 30, 2013 (Note 12); • On October 30, 2013, the outstanding shares of convertible preferred stock were automatically converted into an aggregate 12,120,531 shares of common stock (Note 10); • On October 30, 2013, 717,801 warrants to purchase convertible preferred stock were automatically converted into 717,801 warrants to purchase common stock, at which time the liabilities were re-measured and reclassified to equity (Note 12); • On October 30, 2013, the principal and interest outstanding under the 2012 Notes were converted into 1,860,363 shares of common stock at a conversion price equal to the IPO price of $10.00 per share (Note 8); • On October 30, 2013, the 2013 Omnibus Incentive Plan became effective under which 3,229,068 equity awards for common stock of the Company may be distributed (Note 13); and • On October 30, 2013, the 2013 Employee Stock Purchase Plan became effective under which a maximum of 645,814 shares of common stock of the Company may be issued (Note 16). Additionally, on October 30, 2013, the Company’s certificate of incorporation was amended to increase the number of authorized shares of common stock to 150,000,000 with a par value of $0.001 per share and decrease the number of authorized preferred stock to 15,000,000 with a par value of $0.001 per share. On November 3, 2014, the Company filed a shelf registration statement on Form S-3 that permits: (i) the offering, issuance and sale by the Company of up to a maximum aggregate offering price of $150.0 million of the Company’s common stock; (ii) sales of common stock by certain selling stockholders; and (iii) the offering, issuance and sale by the Company of up to a maximum aggregate offering price of $50.0 million of the Company’s common stock that may be issued and sold under an “at-the-market” sales agreement with Cantor Fitzgerald & Co. The common stock that was offered, issued and sold by the Company under the “at-the-market” sales agreement was included in the $150.0 million of common stock that may be offered, issued and sold by the Company under the shelf registration statement. As of December 31, 2015 , the Company had no availability to issue shares under this “at-the-market” sales agreement. On November 6, 2015, the Company filed a prospectus supplement to the base prospectus dated November 10, 2014. The prospectus supplement permits the offering, issuance and sale by the Company of up to a maximum aggregate offering price of $50.0 million of the Company’s common stock that may be issued and sold by the Company under separate “at-the-market” sales agreements with RBC Capital Markets, LLC and Cantor Fitzgerald & Co. The common stock that may be offered, issued and sold by the Company under these “at-the-market” sales agreements is included in the $150.0 million of common stock that may be offered, issued and sold by the Company under the shelf registration statement. As of December 31, 2015 , $48.1 million remained available for issuance under these “at-the-market” sales agreements. For the year ended December 31, 2015 , the Company issued and sold 1,754,556 shares of common stock under the “at-the-market” sales agreements and received net proceeds of $50.5 million , after deducting commissions at a rate of up to 3% of the gross sales price per share sold and other fees and expenses. There were no sales of securities registered pursuant to the shelf registration statement for the year ended December 31, 2014 . Holders of common stock are entitled to dividends when and if declared by the Company’s Board of Directors subject to prior rights of the holders of any preferred stock. The holder of each share of common stock is entitled to one vote.

Stock Purchase Warrants

Stock Purchase Warrants	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stock Purchase Warrants	Stock Purchase Warrants As of December 31, 2015 , the following equity classified warrants were outstanding: NUMBER OF UNDERLYING SHARES EXERCISE PRICE PER SHARE WARRANT EXPIRATION DATE TYPE OF EQUITY SECURITY 75,000 $ 5.00 February 2019 Common Stock 75,000 $ 5.00 November 2019 Common Stock 7,500 $ 5.00 August 2020 Common Stock 223,482 $ 0.05 December 2019 Common Stock The warrants outstanding at December 31, 2015 are all currently exercisable with weighted-average remaining lives of 3.8 years . Prior to the IPO, the Company recognized all of its outstanding warrants as liabilities on its consolidated balance sheet as they were subject to price protection provisions. The warrant liability was revalued at each reporting period and changes in fair value were included as a component of Other income (expense), net. For the year ended December 31, 2013 , the Company recognized $3.7 million of expense related to changes in the fair value of the warrant liability. The initial recognition and subsequent changes in fair value of the warrant liability had no effect on the Company’s consolidated statement of cash flows. The Company estimated the fair value of the warrants using the Black-Scholes option-pricing model utilizing the fair value of underlying preferred and common stock. Black-Scholes has inherent limitations for use in the case of a warrant with a price protection provision, since the model is designed to be used when the inputs to the model are static throughout the life of a security. Management concluded, under the Company’s facts and circumstances, that the estimated fair values of the warrants using the Black-Scholes option-pricing model approximates, in all material respects, the values determined using a Monte Carlo valuation model. The estimates in the Black-Scholes option-pricing model and the Monte Carlo valuation model are based, in part, on assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk free rate and the fair value of the equity stock underlying the warrants. Key assumptions utilized in the fair value calculation as of October 30, 2013, the IPO closing date, appear in the table below. OCTOBER 30, 2013 Expected term (years) 5.32-6.84 Volatility 65.00 % Risk-free interest rate 1.51%-2.00% Dividend yield — %

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation Stock-based compensation expense for options granted, RSAs, and stock purchase rights are reflected in the statement of operations as follows: YEAR ENDED DECEMBER 31, (in thousands) 2015 2014 2013 Research and development $ 2,500 $ 1,339 $ 222 General and administrative 10,445 7,839 2,636 Total $ 12,945 $ 9,178 $ 2,858 The estimated fair value of options granted is determined on the date of grant using the Black-Scholes option pricing model. Options granted to non-employees are revalued at each financial reporting period until required service is performed. Compensation expense related to RSAs is based on the market value of the Company’s common stock on the date of grant and is expensed on a straight-line basis over the vesting period. Compensation expense for stock purchase rights under the Company’s employee stock purchase plan is measured and recognized on the date that the Company becomes obligated to issue shares of common stock and is based on the difference between the fair value of the Company’s common stock and the purchase price on such date. As of December 31, 2015 , the Company had $28.2 million of unrecognized compensation expense related to options granted under its equity plans. This cost is expected to be recognized over a weighted average period of 2.6 years as of December 31, 2015 . The weighted average remaining contractual life on all outstanding options as of December 31, 2015 was 8.0 years. As of December 31, 2015 , the Company had $1.7 million of unrecognized compensation expense, related to unvested RSAs. This cost is expected to be recognized over a weighted average period of 2.9 years as of December 31, 2015 . The weighted average remaining contractual term for restricted stock awards as of December 31, 2015 was 2.9 years. Key weighted average assumptions utilized in the fair value calculation for the underlying common stock as of December 31, 2015 , 2014 and 2013 appear on the table below. YEAR ENDED DECEMBER 31, 2015 2014 2013 Expected term (years) 6.07 6.25 6.25 Expected stock price volatility 74.11 % 80.44 % 79.20 % Risk-free interest rate 1.63 % 1.90 % 1.78 % Dividend yield — % — % — % Based on the Company’s historical experience of employee turnover, an annualized forfeiture rate was assumed for options and RSAs. Under the true-up provisions of the stock compensation guidance, additional expense is recognized as the awards vest if the actual forfeiture rate is lower than estimated, and a recovery of prior expense if the actual forfeiture is higher than estimated. The Company utilized the guidance set forth in the SEC Staff Accounting Bulletin 107, Share-Based Payment (“SAB 107”), to determine the expected term of options, as it does not have sufficient historical exercise and post vesting termination data to provide a reasonable basis upon which to estimate the expected term of stock options granted to employees. The simplified method is based on the vesting period and the contractual term for each grant, or for each vesting-tranche for awards with graded vesting. The midpoint between the vesting date and the maximum contractual expiration date is used as the expected term under this method. The risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected time to liquidity. Volatility is based on the historical volatility of the Company as well as several public entities that are similar to the Company. This peer group of companies utilized in 2015 remained consistent with that of 2014 . Equity Plans The Company maintains two equity compensation plans, the 2005 Aerie Pharmaceutical Stock Plan (the “2005 Plan”) and the 2013 Omnibus Incentive Plan (the “2013 Equity Plan”), which was amended and restated as the Aerie Pharmaceuticals, Inc. Amended and Restated Omnibus Incentive Plan (the “Amended and Restated Equity Plan”). The 2005 Plan and the Amended and Restated Equity Plan are referred to collectively as the “Plans.” On October 30, 2013, the effective date of the 2013 Equity Plan, the 2005 Plan was frozen and no additional awards have been or will be made under the 2005 Plan. Any shares remaining available for future grant under the 2005 Plan were allocated to the 2013 Equity Plan. At the 2015 Annual Meeting of Stockholders held on April 10, 2015, the Company’s stockholders approved the adoption of the Amended and Restated Equity Plan and no additional awards have been or will be made under the 2013 Equity Plan. Any remaining shares available under the 2013 Equity Plan were allocated to the Amended and Restated Equity Plan. The Amended and Restated Equity Plan provides for the granting of up to 5,729,068 equity awards in respect of common stock of the Company, including equity awards that were available for issuance under the 2013 Equity Plan. The following table summarizes the stock option activity under the Plans: NUMBER OF SHARES WEIGHTED AVERAGE EXERCISE PRICE WEIGHTED AGGREGATE (000’s) Options outstanding at December 31, 2014 3,826,459 $ 8.39 Granted 1,328,400 24.83 Exercised (297,763 ) 4.38 Canceled (273,510 ) 17.00 Options outstanding at December 31, 2015 4,583,586 $ 12.86 8.0 $ 55,918 Options vested and expected to vest at December 31, 2015 4,511,052 $ 12.75 8.0 $ 55,478 Options exercisable at December 31, 2015 2,237,663 $ 7.92 7.3 $ 37,308 The weighted-average fair values of all stock options granted for the years ended December 31, 2015 , 2014 and 2013 was $24.83 , $20.83 and $3.11 , respectively. The aggregate intrinsic value of options exercised for the years ended December 31, 2015 , 2014 and 2013 was $4.3 million , $10.5 million and $9,000 , respectively. The intrinsic value is calculated as the difference between the fair market value and the exercise price per share of the stock options. The fair market value per share of common stock as of December 31, 2015 was $24.35 . The following table provides additional information about the Company’s stock options that are outstanding and exercisable at December 31, 2015 : EXERCISE OPTIONS OUTSTANDING WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE (YEARS) OPTIONS EXERCISABLE $0.20 - $3.15 2,251,290 7.1 1,606,555 $10.44 - $15.97 148,770 9.6 4,737 $16.21 - $21.08 1,239,250 8.5 477,675 $22.31 - $26.76 336,701 9.2 54,138 $27.44 - $32.30 607,575 9.1 94,558 4,583,586 2,237,663 The following table summarizes the RSA activity under the Plans: NUMBER OF SHARES WEIGHTED AVERAGE FAIR VALUE PER SHARE RSAs outstanding at December 31, 2014 103,064 $ 2.47 Granted 99,027 28.00 Vested (69,697 ) 3.35 Canceled (12,401 ) 28.74 RSAs outstanding at December 31, 2015 119,993 $ 20.31 The vesting of the RSAs is time and service based with terms of one to four years.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Commitment Summary The following table presents future minimum commitments of the Company due under non-cancelable operating leases with original or remaining terms in excess of one year at December 31, 2015 . Our operating lease obligations are related to our principal executive offices in Irvine, California, offices in Bedminster, New Jersey and our research facility in Durham, North Carolina. Minimum lease payments were as follows at December 31, 2015 : (in thousands) 2016 $ 1,623 2017 1,598 2018 1,291 2019 1,390 2020 1,295 2020 and thereafter 611 Total minimum lease payments $ 7,808 Rent expense was $1.5 million , $579,000 and $403,000 for the years ended December 31, 2015 , 2014 and 2013 , respectively, and is reflected in general and administrative expenses and research and development expenses as determined by the underlying activities occurring at each of the Company’s locations. Litigation The Company may periodically become subject to legal proceedings and claims arising in connection with its business. Except as set forth below, the Company is not a party to any known litigation, is not aware of any unasserted claims and does not have contingency reserves established for any litigation liabilities. A putative securities class action lawsuit captioned Kelley et al. v. Aerie Pharmaceuticals, Inc., et al., Case No. 3:15-cv-03007, was filed against the Company and certain of its officers and directors in the United States District Court for the District of New Jersey on April 29, 2015. An amended complaint was filed on September 28, 2015 on behalf of a purported class of persons and entities who purchased or otherwise acquired the Company’s publicly traded securities between June 25, 2014 and April 23, 2015. The amended complaint asserts claims under the Exchange Act and alleges that the defendants made materially false and misleading statements or omitted allegedly material information during that period related to, among other things, the prospects of the Company’s initial Phase 3 registration trial of Rhopressa TM , named “Rocket 1,” and Rhopressa TM . The Company believes that the claims asserted in the action are without merit and intends to defend the lawsuit vigorously, and the Company expects to incur costs associated with defending the action. In addition, the Company has various insurance policies related to the risks associated with its business, including directors’ and officers’ liability insurance policies. However, there is no assurance that the Company will be successful in its defense of the action, and there is no assurance that the Company’s insurance coverage, which contains a self-insured retention, will be sufficient or that its insurance carriers will cover all claims or litigation costs. At this time, the Company cannot accurately predict the ultimate outcome of this matter. Due to the inherent uncertainties of litigation, the Company cannot reasonably predict the timing or outcomes, or estimate the amount of loss, or range of loss, if any, or their effect, if any, on the Company’s financial statements. Contract Service Providers In the course of the Company’s normal business operations, it has agreements with contract service providers to assist in the performance of its research and development, clinical research and manufacturing and other general business activities. Substantially all of these contracts are on an as needed basis. Future minimum commitments of the Company due under non-cancelable agreements with service providers was $620,000 as of December 31, 2015 and are expected to be incurred by December 2017.

Related-Party Transactions

Related-Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions Collaboration In August 2015, the Company entered into a research collaboration and license agreement with GrayBug, Inc. (“GrayBug”). The collaboration is focused on researching the potential use of Graybug’s biodegradable polymer technology to deliver certain of the Company’s preclinical stage molecules to the back of the eye over a sustained period of time. The Board of Directors of the Company and that of GrayBug have a common Board member. This Board member did not participate in any deliberations associated with this transaction. 2012 Notes Prior to their conversion into common stock in connection with the IPO (Note 8), the 2012 Notes were due to holders of the Company’s convertible preferred stock. Interest expense on those obligations was $588,000 for the year ended December 31, 2013 . Consultation For the years ended December 31, 2015 , 2014 and 2013 , the respective amounts of approximately $240,000 , $333,000 and $190,000 were paid to board members, some of whom served as consultants of the Company through consulting agreements containing arm’s-length terms typical of agreements entered into with unaffiliated third parties.

Benefit Plan

Benefit Plan	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Benefit Plan	Benefit Plans Defined Contribution Plans Aerie has adopted a 401(k) deferred compensation plan. Eligible employees meeting the participant criteria may contribute up to the statutory limitation ( $18,000 for 2015 and $17,500 for 2014). Aerie may contribute a discretionary match if it elects to do so. During the years ended December 31, 2015 , 2014 and 2013 , Aerie contributed $0 as a matching contribution to the plan. In October 2015, Aerie Ireland Limited adopted the Aerie Pharmaceuticals Ireland Pension and Life Assurance Scheme. Eligible employees meeting the participation criteria may contribute up to the aggregate statutory limitation of 15% to 40% of remuneration depending on age. During the year ended December 31, 2015 , Aerie Ireland Limited contributed $0 as a matching contribution to the plan. Employee Stock Purchase Plan On October 30, 2013, the Company adopted the 2013 Employee Stock Purchase Plan (the “Purchase Plan”) under which substantially all employees may purchase the Company’s common stock through payroll deductions and lump sum contributions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of the offering periods. Employees may not purchase more than the fair value equivalent of $25,000 of stock during any calendar year. As of December 31, 2015 , approximately 629,844 shares were reserved for future issuance under the Purchase Plan.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 24, 2016 , the Board of Directors authorized grants of common stock options and restricted stock awards to the officers of the Company in the aggregate amount of 332,754 and 55,960 , respectively. The options have an exercise price of $16.69 per share, a term of ten years and are subject to vesting conditions over a four -year period. The aggregate fair value of these option grants was approximately $3.8 million . The restricted stock awards are subject to vesting conditions over a four -year period. The aggregate fair value of these restricted stock awards was approximately $0.9 million .

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited) The following table presents selected unaudited quarterly financial information for the years ended December 31, 2015 and 2014 . The results for any quarter are not necessarily indicative of future quarterly results and, accordingly, period to period comparisons should not be relied upon as an indication of future performance. FOR THE QUARTER ENDED (in thousands, except per share amounts) DECEMBER 31, SEPTEMBER 30, JUNE 30, MARCH 31, Year Ended December 31, 2015 Operating expenses $ (19,950 ) $ (17,366 ) $ (18,129 ) $ (19,641 ) Net loss attributable to common stockholders $ (20,377 ) $ (17,961 ) $ (18,786 ) $ (17,239 ) Net loss per share attributable to common stockholders—basic and diluted $ (0.76 ) $ (0.69 ) $ (0.73 ) $ (0.70 ) DECEMBER 31, SEPTEMBER 30, JUNE 30, MARCH 31, Year Ended December 31, 2014 Operating expenses $ (15,973 ) $ (13,174 ) $ (11,843 ) $ (8,982 ) Net loss attributable to common stockholders $ (16,501 ) $ (13,147 ) $ (11,814 ) $ (6,671 ) Net loss per share attributable to common stockholders—basic and diluted $ (0.69 ) $ (0.54 ) $ (0.49 ) $ (0.28 )

Significant Accounting Polici26

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Aerie and its wholly-owned subsidiaries. All intercompany accounts, transactions and profits have been eliminated in consolidation.
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 reported amounts of income and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the valuation of stock options and operating expense accruals. Actual results could differ from the Company’s estimates.
Segment Information	Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one operating segment.
Reverse Stock Split	Reverse Stock Split The Company effected a 1-for-5 reverse stock split on October 8, 2013. Accordingly, all share and per share amounts for all preceding periods presented in these consolidated financial statements and notes hereto, have been adjusted retroactively to reflect this reverse stock split, including reclassifying an amount equal to the reduction in par value to additional paid-in capital.
Cash Equivalents	Cash Equivalents Cash equivalents consist of short-term, highly liquid investments with an original term of three months or less at the date of purchase. Cash deposits are held by six financial institutions in the United States and two financial institutions in Europe.
Concentration of Credit Risk	Concentration of Credit Risk The Company’s cash and cash equivalent balances with financial institutions exceed the $250,000 amount insured by the Federal Deposit Insurance Corporation
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs consist of financing costs incurred by the Company in connection with the closing of the 2014 Convertible Notes are included as a direct deduction from the carrying amount of the 2014 Convertible Notes on the Company’s consolidated balance sheets. In connection with the Company’s adoption of ASU 2015-03 in the fourth quarter of 2015, the Company reclassified $1.3 million from Other assets, net to a direct deduction from the carrying amount of the 2014 Convertible Notes on the consolidated balance sheet as of December 31, 2014. Refer to “ Recent Accounting Pronouncements ” for further information regarding the reclassification. The Company amortizes debt issuance costs through the earlier of maturity or the conversion of the 2014 Convertible Notes using the effective interest method.
Debt Discounts	Debt Discounts Debt discounts consist of fees and expenses incurred by the Company in connection with the closing of the Company’s 2014 Convertible Notes that were paid directly to the note holders. The Company amortizes debt discounts through the earlier of maturity or the conversion of the 2014 Convertible Notes using the effective interest method.
Furniture, Fixtures and Equipment, Net	Furniture, Fixtures and Equipment, Net Furniture, fixtures and equipment is recorded at historical cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets. Repairs and maintenance are expensed when incurred. Upon retirement or sale, the cost of the assets disposed of and the related accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the determination of net income.
Software Capitalization	Software Capitalization The Company capitalizes certain costs incurred in connection with obtaining or developing internal-use software including external direct costs of materials and services involved with the software development. Capitalized software costs are included in Furniture, fixtures, and equipment and are amortized over a period of three years beginning when the software project is substantially complete and the asset is ready for its intended use. Costs incurred during the preliminary project stage and post-implementation stage, as well as maintenance and training costs, are expensed as incurred.
Research and Development Costs	Research and Development Costs Research and development costs are charged to expense as incurred and include, but are not limited to: • Employee-related expenses including salaries, benefits, travel and stock-based compensation expense for research and development personnel; • expenses incurred under agreements with contract research organizations (“CROs”), contract manufacturing organizations and service providers that assist in conducting clinical and preclinical studies; • costs associated with preclinical activities and development activities; • costs associated with regulatory operations; and • depreciation expense for assets used in research and development activities. Costs for certain development activities, such as clinical studies, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided to the Company by its vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the patterns of costs incurred, and are reflected in the consolidated financial statements as prepaid expenses or accrued expenses as deemed appropriate.
Stock-Based Compensation	Stock-Based Compensation Compensation cost of stock-based awards granted to employees is measured at grant date, based on the estimated fair value of the award. The Company estimates the fair value of stock options using a Black-Scholes option pricing model. Compensation cost for options granted to non-employees is determined as the fair value of consideration received or the fair value of the equity instruments issued, whichever is more reliably measured. The fair value of restricted stock awards (“RSAs”) is determined based on the fair value of the Company’s common stock on the date of grant. Stock-based compensation costs are expensed on a straight-line basis (net of estimated forfeitures) over the relevant vesting period. The fair value of unvested awards granted to non-employees is re-measured each period until the related service is complete. Compensation expense for employee stock purchase plan rights (“stock purchase rights”) is measured and recognized on the date that the Company becomes obligated to issue shares of common stock and is based on the difference between the fair value of the Company’s common stock and the purchase price on such date. All stock-based compensation expense is recorded between general and administrative and research and development costs in the consolidated statements of operations based upon the underlying employees roles within the Company. As a result of the taxable gain recognized in connection with the IP Assignment, the Company utilized certain net operating losses, including $462,978 in excess tax benefits related to stock-based compensation, to offset taxable income. In accordance with ASC 718, this excess tax benefit was recorded in additional paid-in capital for the year ended December 31, 2015 .
Investments	Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase. The Company’s investments are comprised of certificates of deposit, commercial paper, corporate bonds and government agency securities that are classified as available-for-sale in accordance with ASC 320, Investments—Debt and Equity Securities. The Company classifies investments available to fund current operations as current assets on its consolidated balance sheets. Investments are classified as long-term assets on the consolidated balance sheets if (i) the Company has the intent and ability to hold the investments for a period of at least one year and (ii) the contractual maturity date of the investments is greater than one year. Available-for-sale investments are recorded at fair value, with unrealized gains or losses included in Accumulated other comprehensive gain (loss) on the Company’s consolidated balance sheets. Realized gains and losses are determined using the specific identification method and are included as a component of Other income (expense), net (Note 3). There were no realized gains or losses recognized for the years ended December 31, 2015 , 2014 or 2013 . The Company reviews investments for other-than-temporary impairment whenever the fair value of an investment is less than the amortized cost and evidence indicates that an investment’s carrying amount is not recoverable within a reasonable period of time. To determine whether an impairment is other-than-temporary, the Company considers its intent to sell, or whether it is more likely than not that the Company will be required to sell the investment before recovery of the investment’s amortized cost basis. Evidence considered in this assessment includes reasons for the impairment, the severity and the duration of the impairment and changes in value subsequent to period end.
Fair Value Measurements	Fair Value Measurements The Company records certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair value of the Company’s financial instruments, including cash and cash equivalents, short-term investments, other current assets, accounts payable and accrued expenses approximate their respective carrying values due to the short-term nature of these instruments. The carrying amounts of long-term investments represent their estimated fair values. The estimated fair value of the 2014 Convertible Notes was $140.1 million and $163.8 million as of December 31, 2015 and 2014 , respectively (Note 5). As of December 31, 2015 and 2014 , all outstanding warrants are classified as equity and are recorded within additional paid-in capital on the consolidated balance sheets (Note 12).
Stock Purchase Warrants	Stock Purchase Warrants The Company accounts for its stock purchase warrants as either equity or liabilities based upon the characteristics and provisions of the underlying instruments. Warrants classified as equity are recorded at their fair value on the date of issuance as additional paid-in capital on the consolidated balance sheets and no further adjustments are made to their valuation. Warrants classified as liabilities are recorded at their fair value on the date of issuance and are re-measured on each subsequent balance sheet date until the earlier of the exercise or expiration of the applicable warrants or until such time that the warrants are no longer determined to be derivative instruments. The fair value changes are recognized as income (decreases in fair value) or expense (increases in fair value) in Other income (expense), net in the consolidated statements of operations and comprehensive loss. The fair value of these liabilities is estimated using the Black-Scholes method, which, under the Company’s facts and circumstances, approximates, in all material respects, the values determined when using a Monte Carlo simulation.
Comprehensive Loss	Comprehensive Loss Comprehensive loss is comprised of net loss and other comprehensive loss. Other comprehensive loss includes changes in stockholders’ equity that are excluded from net income (loss), specifically changes in unrealized gains and losses on the Company’s available-for-sale securities.
Income Taxes	Income Taxes Deferred tax assets or liabilities are recorded for temporary differences between financial statement and tax basis of assets and liabilities, using enacted rates in effect for the year in which the differences are expected to reverse. The Company recognizes the impact of an uncertain tax position in the consolidated financial statements only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities. The Company’s policy is to record interest and penalties on uncertain tax positions as income tax expense.
Tax Valuation Allowance	Tax Valuation Allowance A valuation allowance is recorded if it is more likely than not that a deferred tax asset will not be realized.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (the “FASB”) issued ASU 2015-17, which requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The guidance is effective for annual periods beginning after December 15, 2016, and all annual and interim periods thereafter, with early adoption permitted. The Company early adopted this guidance for the year ended December 31, 2015. The adoption of this guidance, which was applied retrospectively did not have a material impact on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt, consistent with the presentation of a debt discount. The guidance is effective for annual periods beginning after December 15, 2015, and all annual and interim periods thereafter. As permitted, the Company early adopted this guidance for the year ended December 31, 2015. The adoption of this guidance, which was applied retrospectively and impacted consolidated balance sheet presentation only, resulted in a reclassification of $1.3 million from Other assets, net to a direct deduction from the carrying amount of the 2014 Convertible Notes on the consolidated balance sheet as of December 31, 2014. In August 2014, the FASB issued ASU 2014-15, which provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for the Company for the annual period ending after December 15, 2016 and for annual and interim periods thereafter, with early adoption permitted. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements.
Net Loss per Share Attributable to Common Stock	Net Loss per Share Attributable to Common Stock Basic net loss per share attributable to common stock (“Basic EPS”) is calculated by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period, without consideration for potentially dilutive securities with the exception of warrants for common stock with a $0.05 exercise price, which are exercisable for nominal consideration, and shares that are unequivocally issuable under the Company’s employee stock purchase plan and are therefore included in the calculation of the weighted-average number of shares of common stock as common stock equivalents. Net loss attributable to common stockholders for the year ended December 31, 2013 is calculated by adjusting the Company’s net loss for accretion on convertible preferred stock. Diluted net loss per share attributable to common stock (“Diluted EPS”) gives effect to all dilutive potential shares of common stock outstanding during this period. For Diluted EPS, net loss attributable to common stockholders used in calculating Basic EPS is adjusted for certain items related to the dilutive securities. For all periods presented, the Company’s potential common stock equivalents have been excluded from the computation of Diluted EPS as their inclusion would have the effect of reducing the net loss per share of common stock. Therefore, the denominator used to calculate Basic EPS and Diluted EPS is the same in all periods presented.

Significant Accounting Polici27

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of Computation of Diluted EPS	The Company’s potential common stock equivalents that have been excluded from the computation of Diluted EPS for all periods presented consist of the following: DECEMBER 31, 2015 2014 2013 2014 Convertible Notes (1) 5,040,323 5,040,323 — Outstanding stock options 4,583,586 3,826,459 3,189,660 Stock purchase warrants 157,500 309,506 309,506 Restricted common stock awards 119,993 103,064 246,068

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Schedule of Other Income (Expense), Net	Other income (expense), net consists of the following: YEAR ENDED DECEMBER 31, (in thousands) 2015 2014 2013 Interest and amortization expense $ (2,493 ) $ (628 ) $ (3,795 ) Sale of New Jersey state tax benefit 2,898 2,288 1,268 Investment and other income, net 457 179 3 Expense due to change in fair value measurements (1) — — (3,717 ) Loss on conversion of notes payable to related parties — — (2,737 ) $ 862 $ 1,839 $ (8,978 ) (1) Includes change in fair value of warrant liabilities and change in fair value of a certain conversion feature related to the 2012 Notes (as defined herein) that was determined to be an embedded derivative requiring bifurcation and separate accounting. See Note 12 and Note 8, respectively.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Cash, Cash Equivalents and Investments	Cash, cash equivalents and investments as of December 31, 2015 included the following: GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR (in thousands) COST GAINS LOSSES VALUE Cash and cash equivalents: Cash and money market accounts $ 91,060 $ — $ — $ 91,060 Total cash and cash equivalents $ 91,060 $ — $ — $ 91,060 Investments: Certificates of deposit (due within 1 year) $ 13,611 $ 1 $ (7 ) $ 13,605 Certificates of deposit (due within 2 years) 4,760 — (10 ) 4,750 Commercial paper (due within 1 year) 5,977 — (11 ) 5,966 Corporate bonds (due within 1 year) 24,002 — (65 ) 23,937 Corporate bonds (due within 2 years) 9,142 — (84 ) 9,058 Government agencies (due within 1 year) 1,997 — (3 ) 1,994 Total investments $ 59,489 $ 1 $ (180 ) $ 59,310 Total cash, cash equivalents, and investments $ 150,549 $ 1 $ (180 ) $ 150,370 Cash, cash equivalents and investments as of December 31, 2014 included the following: GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR (in thousands) COST GAINS LOSSES VALUE Cash and cash equivalents: Cash and money market accounts $ 84,613 $ — $ — $ 84,613 Certificates of deposit 472 — — 472 Corporate bonds 501 — — 501 Total cash and cash equivalents $ 85,586 $ — $ — $ 85,586 Investments: Certificates of deposit (due within 1 year) $ 25,823 $ — $ (9 ) $ 25,814 Certificates of deposit (due within 2 years) 4,429 1 (3 ) 4,427 Commercial paper (due within 1 year) 5,988 1 (3 ) 5,986 Corporate bonds (due within 1 year) 16,487 — (24 ) 16,463 Corporate bonds (due within 2 years) 13,912 — (64 ) 13,848 Government agencies (due within 1 year) 6,082 — (6 ) 6,076 Total investments $ 72,721 $ 2 $ (109 ) $ 72,614 Total cash, cash equivalents, and investments $ 158,307 $ 2 $ (109 ) $ 158,200

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	The following tables summarize the fair value of financial assets and liabilities that are measured at fair value and the classification by level of input within the fair value hierarchy: FAIR VALUE MEASUREMENTS AS OF DECEMEBER 31, 2015 (in thousands) LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Cash and cash equivalents: Cash and money market accounts $ 91,060 $ — $ — $ 91,060 Total cash and cash equivalents: $ 91,060 $ — $ — $ 91,060 Investments: Certificates of deposit $ — $ 18,355 $ — $ 18,355 Commercial paper — 5,966 — 5,966 Corporate bonds — 32,995 — 32,995 Government agencies — 1,994 — 1,994 Total investments $ — $ 59,310 $ — $ 59,310 Total cash, cash equivalents, and investments: $ 91,060 $ 59,310 $ — $ 150,370 FAIR VALUE MEASUREMENTS AS OF DECEMEBER 31, 2014 (in thousands) LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Cash and cash equivalents: Cash and money market accounts $ 84,613 $ — $ — $ 84,613 Certificates of deposit — 472 — 472 Corporate bonds — 501 — 501 Total cash and cash equivalents: $ 84,613 $ 973 $ — $ 85,586 Investments: Certificates of deposit $ — $ 30,241 $ — $ 30,241 Commercial paper — 5,986 — 5,986 Corporate bonds — 30,311 — 30,311 Government agencies — 6,076 — 6,076 Total investments $ — $ 72,614 $ — $ 72,614 Total cash, cash equivalents, and investments: $ 84,613 $ 73,587 $ — $ 158,200

Furniture, Fixtures and Equip31

Furniture, Fixtures and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Furniture, Fixtures and Equipment, Net	Furniture, fixtures and equipment, net consists of the following: (in thousands) ESTIMATED USEFUL LIVES (YEARS) DECEMBER 31, 2015 2014 Manufacturing equipment 10 $ 988 $ — Laboratory equipment 7 1,619 830 Software and computer equipment 3 1,695 195 Furniture and fixtures 5 491 238 Leasehold improvements Term of lease 298 — $ 5,091 $ 1,263 Less: Accumulated depreciation (1,275 ) (1,023 ) $ 3,816 $ 240

Accounts Payable & Other Curr32

Accounts Payable & Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Summary of Accounts Payable and Other Current Liabilities	Accounts payable and other current liabilities consist of the following: DECEMBER 31, (in thousands) 2015 2014 Accounts payable $ 1,629 $ 2,068 Accrued expenses and other liabilities: Employee benefits and compensation related accruals (1) 3,085 2,257 General and administrative related accruals (2) 2,389 731 Research and development related accruals (3) 7,741 3,280 Accrued income taxes (4) 1,721 — $ 16,565 $ 8,336 (1) Comprised of accrued bonus, accrued vacation, accrued severance liabilities and liabilities under the Company’s employee stock purchase plan. (2) Comprised of accruals such as outside professional fees and other business related expenses. (3) Comprised of accruals such as fees for investigative sites, CROs, contract manufacturing organizations and other service providers that assist in conducting preclinical and clinical trials. (4) Accrued income taxes are the result of the taxable gain from the IP Assignment. Refer to Note 9 for a description of the tax impact of the IP Assignment.

Convertible Notes Convertible N

Convertible Notes Convertible Notes (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Convertible Debt	The table below summarizes the carrying value of the 2014 Convertible Notes as of December 31, 2015 : (in thousands) DECEMBER 31, 2015 Gross proceeds $ 125,000 Initial value of issuance costs recorded as debt discount (2,146 ) Amortization of debt discount and issuance costs 382 Carrying value $ 123,236

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Components of Provision for Income Taxes	The provision for income taxes is based on net loss before income taxes as follows: DECEMBER 31, (in thousands) 2015 2014 2013 Net loss before income taxes: United States $ (59,211 ) $ (48,133 ) $ (31,148 ) Other (15,013 ) — — Net loss before income taxes $ (74,224 ) $ (48,133 ) $ (31,148 ) The components of the provision for income taxes are as follows: DECEMBER 31, (dollars in thousands) 2015 2014 2013 Provision for income taxes: Current: United States $ 139 $ — $ — Other — — — Total $ 139 $ — $ — Deferred: United States $ — $ — $ — Other — — — Total — — — Provision for income taxes $ 139 $ — $ — Effective tax rate (0.19 )% — % — %
Summary of Significant Components of Company's Net Deferred Income Tax Assets	Significant components of the Company’s net deferred income tax assets as of December 31, 2015 and 2014 consist of the following: DECEMBER 31, (in thousands) 2015 2014 Net deferred tax assets: Net operating loss carry-forwards $ 6,335 $ 42,863 Share based compensation 7,231 3,249 U.S. tax credit carry-forwards 3,823 631 Other assets 1,488 1,633 Other liabilities (696 ) (693 ) Valuation allowance (18,181 ) (47,683 ) Total net deferred income taxes $ — $ —
Reconciliation of U.S. Statutory Rate and Effective Tax Rate	A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 31, 2015 , 2014 and 2013 is as follows: DECEMBER 31, 2015 2014 2013 U.S. federal tax rate 35.00 % 35.00 % 35.00 % State income taxes, net of federal benefit (0.90 )% 6.13 % 5.36 % Taxable gain resulting from IP Assignment (75.31 )% — % — % Non-taxable foreign loss (6.98 )% — % — % Tax deferral from IP Assignment 3.56 % — % — % Other 0.02 % (0.04 )% (0.03 )% Valuation allowance 44.42 % (41.09 )% (40.33 )% Effective tax rate (0.19 )% — % — %

Stock Purchase Warrants (Tables

Stock Purchase Warrants (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Schedule of Warrants Outstanding	As of December 31, 2015 , the following equity classified warrants were outstanding: NUMBER OF UNDERLYING SHARES EXERCISE PRICE PER SHARE WARRANT EXPIRATION DATE TYPE OF EQUITY SECURITY 75,000 $ 5.00 February 2019 Common Stock 75,000 $ 5.00 November 2019 Common Stock 7,500 $ 5.00 August 2020 Common Stock 223,482 $ 0.05 December 2019 Common Stock
Schedule of Key Assumptions Utilized in Fair Value Calculation	Key assumptions utilized in the fair value calculation as of October 30, 2013, the IPO closing date, appear in the table below. OCTOBER 30, 2013 Expected term (years) 5.32-6.84 Volatility 65.00 % Risk-free interest rate 1.51%-2.00% Dividend yield — %

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense for Options Granted and Restricted Stock as Reflected in the Statement of Operations	Stock-based compensation expense for options granted, RSAs, and stock purchase rights are reflected in the statement of operations as follows: YEAR ENDED DECEMBER 31, (in thousands) 2015 2014 2013 Research and development $ 2,500 $ 1,339 $ 222 General and administrative 10,445 7,839 2,636 Total $ 12,945 $ 9,178 $ 2,858
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Key weighted average assumptions utilized in the fair value calculation for the underlying common stock as of December 31, 2015 , 2014 and 2013 appear on the table below. YEAR ENDED DECEMBER 31, 2015 2014 2013 Expected term (years) 6.07 6.25 6.25 Expected stock price volatility 74.11 % 80.44 % 79.20 % Risk-free interest rate 1.63 % 1.90 % 1.78 % Dividend yield — % — % — %
Schedule of Stock Options Activity	The following table summarizes the stock option activity under the Plans: NUMBER OF SHARES WEIGHTED AVERAGE EXERCISE PRICE WEIGHTED AGGREGATE (000’s) Options outstanding at December 31, 2014 3,826,459 $ 8.39 Granted 1,328,400 24.83 Exercised (297,763 ) 4.38 Canceled (273,510 ) 17.00 Options outstanding at December 31, 2015 4,583,586 $ 12.86 8.0 $ 55,918 Options vested and expected to vest at December 31, 2015 4,511,052 $ 12.75 8.0 $ 55,478 Options exercisable at December 31, 2015 2,237,663 $ 7.92 7.3 $ 37,308
Schedule of Stock Options Outstanding and Exercisable Option Plans	The following table provides additional information about the Company’s stock options that are outstanding and exercisable at December 31, 2015 : EXERCISE OPTIONS OUTSTANDING WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE (YEARS) OPTIONS EXERCISABLE $0.20 - $3.15 2,251,290 7.1 1,606,555 $10.44 - $15.97 148,770 9.6 4,737 $16.21 - $21.08 1,239,250 8.5 477,675 $22.31 - $26.76 336,701 9.2 54,138 $27.44 - $32.30 607,575 9.1 94,558 4,583,586 2,237,663
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the RSA activity under the Plans: NUMBER OF SHARES WEIGHTED AVERAGE FAIR VALUE PER SHARE RSAs outstanding at December 31, 2014 103,064 $ 2.47 Granted 99,027 28.00 Vested (69,697 ) 3.35 Canceled (12,401 ) 28.74 RSAs outstanding at December 31, 2015 119,993 $ 20.31

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Summary of Future Minimum Lease Payments	Minimum lease payments were as follows at December 31, 2015 : (in thousands) 2016 $ 1,623 2017 1,598 2018 1,291 2019 1,390 2020 1,295 2020 and thereafter 611 Total minimum lease payments $ 7,808

Selected Quarterly Financial 38

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Information	The following table presents selected unaudited quarterly financial information for the years ended December 31, 2015 and 2014 . The results for any quarter are not necessarily indicative of future quarterly results and, accordingly, period to period comparisons should not be relied upon as an indication of future performance. FOR THE QUARTER ENDED (in thousands, except per share amounts) DECEMBER 31, SEPTEMBER 30, JUNE 30, MARCH 31, Year Ended December 31, 2015 Operating expenses $ (19,950 ) $ (17,366 ) $ (18,129 ) $ (19,641 ) Net loss attributable to common stockholders $ (20,377 ) $ (17,961 ) $ (18,786 ) $ (17,239 ) Net loss per share attributable to common stockholders—basic and diluted $ (0.76 ) $ (0.69 ) $ (0.73 ) $ (0.70 ) DECEMBER 31, SEPTEMBER 30, JUNE 30, MARCH 31, Year Ended December 31, 2014 Operating expenses $ (15,973 ) $ (13,174 ) $ (11,843 ) $ (8,982 ) Net loss attributable to common stockholders $ (16,501 ) $ (13,147 ) $ (11,814 ) $ (6,671 ) Net loss per share attributable to common stockholders—basic and diluted $ (0.69 ) $ (0.54 ) $ (0.49 ) $ (0.28 )

The Company (Details)

The Company (Details) - USD ($)	Nov. 06, 2015	Nov. 10, 2014	Sep. 30, 2014	Oct. 30, 2013	Oct. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Oct. 30, 2015
Organization And Nature Of Business [Line Items]
Common stock initial public offering				7,728,000
Common stock, offering price per share (in dollars per share)									$ 10
Net proceeds from initial public offering				$ 68,300,000		$ 0	$ 0	$ 71,870,000
Payments of initial public offering costs				5,400,000
Issuance of common stock, value				$ 3,600,000		0	0	3,644,000
Payments of debt issuance costs						0	122,853,000	0
Shelf registration statement, aggregate dollar amount							0
Proceeds from sale of common stock						$ 50,451,000	$ 0	0
IPO
Organization And Nature Of Business [Line Items]
Common stock initial public offering					7,728,000
Common stock, offering price per share (in dollars per share)					$ 10
Net proceeds from initial public offering					$ 68,300,000
Payments of initial public offering costs					5,400,000
Issuance of common stock, value					$ 3,600,000			$ 3,600,000
Over-Allotment Option
Organization And Nature Of Business [Line Items]
Common stock initial public offering					1,008,000
Convertible debt
Organization And Nature Of Business [Line Items]
Convertible notes, net of discounts			$ 125,000,000
Payments of debt issuance costs			122,900,000
Expenses for initial public offering			$ 2,100,000
Maximum
Organization And Nature Of Business [Line Items]
Shelf registration statement, aggregate dollar amount		$ 150,000,000
Common Stock
Organization And Nature Of Business [Line Items]
Common stock initial public offering						1,754,556		7,728,000
Payments of initial public offering costs						$ 1,496,000		$ 5,410,000
Amount available under sales agreement						$ 48,100,000
Cantor Fitzgerald and Co. | Common Stock
Organization And Nature Of Business [Line Items]
Common stock issued and sold under sales agreement						1,754,556	0
Proceeds from sale of common stock						$ 50,500,000
Sale of stock, commissions, percentage of gross sales						3.00%
Cantor Fitzgerald and Co. | Common Stock | Maximum
Organization And Nature Of Business [Line Items]
Shelf registration statement, aggregate dollar amount		$ 50,000,000
RBC Capital Markets, LLC and Cantor Fitzgerald & Co | Common Stock | Maximum
Organization And Nature Of Business [Line Items]
Prospectus supplement, aggregate dollar amount	$ 50,000,000

Significant Accounting Polici40

Significant Accounting Policies - Additional Information (Details)	Oct. 08, 2013	Dec. 31, 2015USD ($)Financial_InstitutionSegment$ / shares	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Significant Accounting Policies [Line Items]
Number of operating segments | Segment		1
Reverse stock split, conversion ratio	0.2
Cash equivalents maturity period		3 months
Amount insured by FDIC		$ 250,000
Tax benefits recognized for stock-based compensation		462,978	$ 0	$ 0
Realized gains (losses) recognized from investment		0	0	0
Interest or penalties recognized for uncertain tax positions		0	0	$ 0
Interest or penalties accrued for uncertain tax positions		$ 0	0
Warrants exercise price (in dollars per share) | $ / shares		$ 0.05
Convertible debt | 2014 Notes
Significant Accounting Policies [Line Items]
Ownership cap for holder and affiliates, percentage		9.985%
Domestic tax authority
Significant Accounting Policies [Line Items]
Operating loss carry-forwards		$ 61,100,000
Convertible debt | 2014 Notes
Significant Accounting Policies [Line Items]
Long-term debt, fair value		$ 140,100,000	163,800,000
Ownership cap for holder and affiliates, percentage		9.985%
United States
Significant Accounting Policies [Line Items]
Number of financial institutions | Financial_Institution		6
Europe
Significant Accounting Policies [Line Items]
Number of financial institutions | Financial_Institution		2
Software and Software Development Costs
Significant Accounting Policies [Line Items]
Amortization period for capitalized software cost		3 years
New Accounting Pronouncement, Early Adoption, Effect | Long-term Debt
Significant Accounting Policies [Line Items]
Reclassification of other assets to direct deduction from the carrying amount of convertible notes			$ 1,300,000
New Accounting Pronouncement, Early Adoption, Effect | Other Assets
Significant Accounting Policies [Line Items]
Reclassification of other assets to direct deduction from the carrying amount of convertible notes		$ (1,300,000)

Significant Accounting Polici41

Significant Accounting Policies - Schedule of Computation of Diluted EPS (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Convertible notes payable
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss per share	5,040,323	5,040,323	0
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss per share	4,583,586	3,826,459	3,189,660
Stock purchase warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss per share	157,500	309,506	309,506
Restricted common stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss per share	119,993	103,064	246,068

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Income and Expenses [Abstract]
Interest and amortization expense	$ (2,493)	$ (628)	$ (3,795)
Sale of New Jersey state tax benefit	2,898	2,288	1,268
Investment and other income, net	457	179	3
Expense due to change in fair value measurements	0	0	(3,717)
Loss on conversion of notes payable to related parties	0	0	(2,737)
Other income (expense), net	$ 862	$ 1,839	$ (8,978)

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash and cash equivalents:
Cash and cash equivalents	$ 91,060	$ 85,586	$ 69,649	$ 2,925
Cash and Cash Equivalents, Fair Value Disclosure	91,060	85,586
Investments:
Investments, amortized cost	59,489	72,721
Investments, gross unrealized gains	1	2
Investments, gross unrealized losses	(180)	(109)
Investments, fair value	59,310	72,614
Total cash, cash equivalents, and investments, amortized cost	150,549	158,307
Total cash, cash equivalents, and investments, fair value	150,370	158,200
Certificates of deposit (due within 1 year)
Investments:
Investments, amortized cost	13,611	25,823
Investments, gross unrealized gains	1	0
Investments, gross unrealized losses	(7)	(9)
Investments, fair value	13,605	25,814
Certificates of deposit (due within 2 years)
Investments:
Investments, amortized cost	4,760	4,429
Investments, gross unrealized gains	0	1
Investments, gross unrealized losses	(10)	(3)
Investments, fair value	4,750	4,427
Commercial paper (due within 1 year)
Investments:
Investments, amortized cost	5,977	5,988
Investments, gross unrealized gains	0	1
Investments, gross unrealized losses	(11)	(3)
Investments, fair value	5,966	5,986
Corporate bonds (due within 1 year)
Investments:
Investments, amortized cost	24,002	16,487
Investments, gross unrealized gains	0	0
Investments, gross unrealized losses	(65)	(24)
Investments, fair value	23,937	16,463
Corporate bonds (due within 2 years)
Investments:
Investments, amortized cost	9,142	13,912
Investments, gross unrealized gains	0	0
Investments, gross unrealized losses	(84)	(64)
Investments, fair value	9,058	13,848
Government agencies (due within 1 year)
Investments:
Investments, amortized cost	1,997	6,082
Investments, gross unrealized gains	0	0
Investments, gross unrealized losses	(3)	(6)
Investments, fair value	1,994	6,076
Cash and money market accounts
Cash and cash equivalents:
Cash and cash equivalents	91,060	84,613
Cash and Cash Equivalents, Fair Value Disclosure	$ 91,060	84,613
Certificates of deposit
Cash and cash equivalents:
Cash and cash equivalents		472
Cash and Cash Equivalents, Fair Value Disclosure		472
Corporate bonds
Cash and cash equivalents:
Cash and cash equivalents		501
Cash and Cash Equivalents, Fair Value Disclosure		$ 501

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	$ 91,060	$ 85,586
Total investments	59,310	72,614
Total cash, cash equivalents, and investments:	150,370	158,200
Fair value, inputs, level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	91,060	84,613
Total investments	0	0
Total cash, cash equivalents, and investments:	91,060	84,613
Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		973
Total investments	59,310	72,614
Total cash, cash equivalents, and investments:	59,310	73,587
Fair value, inputs, level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	0	0
Total cash, cash equivalents, and investments:	0	0
Convertible debt | 2014 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	140,100	163,800
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	18,355	30,241
Certificates of deposit | Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	18,355	30,241
Commercial paper (due within 1 year)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	5,966	5,986
Commercial paper (due within 1 year) | Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	5,966	5,986
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	32,995	30,311
Corporate bonds | Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	32,995	30,311
Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	1,994	6,076
Government agencies | Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	1,994	6,076
Cash and money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	91,060	84,613
Cash and money market accounts | Fair value, inputs, level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	$ 91,060	84,613
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		472
Certificates of deposit | Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		472
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		501
Corporate bonds | Fair value, inputs, level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		$ 501

Furniture, Fixtures and Equip45

Furniture, Fixtures and Equipment, Net - Furniture, Fixtures and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,091	$ 1,263
Less: Accumulated depreciation	(1,275)	(1,023)
Property and equipment, net	$ 3,816	240
Manufacturing Equipment
Property, Plant and Equipment [Line Items]
ESTIMATED USEFUL LIVES (YEARS)	10 years
Property and equipment, gross	$ 988	0
Laboratory Equipment
Property, Plant and Equipment [Line Items]
ESTIMATED USEFUL LIVES (YEARS)	7 years
Property and equipment, gross	$ 1,619	830
Software and computer equipment
Property, Plant and Equipment [Line Items]
ESTIMATED USEFUL LIVES (YEARS)	3 years
Property and equipment, gross	$ 1,695	195
Furniture and fixtures
Property, Plant and Equipment [Line Items]
ESTIMATED USEFUL LIVES (YEARS)	5 years
Property and equipment, gross	$ 491	238
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 298	$ 0

Furniture, Fixtures and Equip46

Furniture, Fixtures and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 252	$ 73	$ 64

Accounts Payable & Other Curr47

Accounts Payable & Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accounts payable	$ 1,629	$ 2,068
Accrued expenses and other liabilities:
Employee benefits and compensation related accruals	3,085	2,257
General and administrative related accruals(2)	2,389	731
Research and development related accruals	7,741	3,280
Accrued income taxes	1,721	0
Accounts payable and other current liabilities	$ 16,565	$ 8,336

Convertible Notes - 2014 Notes

Convertible Notes - 2014 Notes (Details) $ / shares in Units, $ in Thousands	Mar. 31, 2015USD ($)	Aug. 09, 2013Note	May. 23, 2013Note	Mar. 28, 2013Note	Dec. 07, 2012Note	Dec. 31, 2015USD ($)d$ / shares	Dec. 31, 2014USD ($)	Oct. 30, 2013$ / shares
Debt Instrument [Line Items]
Maturity period for 2014 convertible notes						7 years
Conversion price of notes (in dollars per share) | $ / shares								$ 10
Unamortized debt discounts						$ 2,146
Convertible debt
Debt Instrument [Line Items]
Legal fees	$ 1,300
Initial conversion rate						0.04032
Maximum increase to initial conversion rate						0.01207
Unamortized debt discounts						$ 1,800
Convertible debt | 2014 Notes
Debt Instrument [Line Items]
Convertible notes, interest rate						1.75%
Debt instrument, convertible, stock price trigger (in dollars per share) | $ / shares						$ 30
Debt instrument, convertible, threshold trading days | d						30
Transaction fee for debt issuance	625
Debt instrument, fee amount	$ 250
Ownership cap for holder and affiliates, percentage						9.985%
Conversion price of notes (in dollars per share) | $ / shares						$ 24.80
Initial conversion, premium over closing price						30.00%
Default provisions, qualifying percentage of ownership						50.00%
Interest expense related to 2014 convertible note						$ 2,200	$ 600
Subsidiaries | Convertible debt
Debt Instrument [Line Items]
Percentage of voting rights pledged as collateral	65.00%
Convertible debt | 2012 Notes
Debt Instrument [Line Items]
Convertible notes, interest rate					8.00%
Number of individual convertible notes | Note		5	5	5	5
Convertible debt | 2014 Notes
Debt Instrument [Line Items]
Ownership cap for holder and affiliates, percentage						9.985%

Convertible Notes - Reconciliat

Convertible Notes - Reconciliation of Convertible Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Gross proceeds	$ 125,000
Initial value of issuance costs recorded as debt discount	(2,146)
Amortization of debt discount and issuance costs	382
Carrying value	$ 123,236	$ 122,906

Convertible Notes - 2012 Notes

Convertible Notes - 2012 Notes (Details)	Oct. 30, 2013USD ($)$ / sharesshares	Sep. 30, 2013USD ($)	Aug. 09, 2013USD ($)Note	May. 23, 2013USD ($)Note	Mar. 28, 2013USD ($)Note	Dec. 07, 2012USD ($)Note	Dec. 31, 2012USD ($)
Short-term Debt [Line Items]
Principal and accrued interest outstanding shares converted into common stock | shares	1,860,363
Conversion price of notes (in dollars per share) | $ / shares	$ 10
2012 Notes | Initial public offer
Short-term Debt [Line Items]
Principal and accrued interest outstanding shares converted into common stock | shares	1,860,363
Conversion price of notes (in dollars per share) | $ / shares	$ 10
2012 Notes | Convertible debt
Short-term Debt [Line Items]
Convertible notes authorized and available for sale						$ 15,000,000	$ 12,000,000
Convertible notes, interest rate						8.00%
Number of individual convertible notes | Note			5	5	5	5
Convertible notes, aggregate principal balance			$ 4,500,000	$ 4,500,000	$ 3,000,000	$ 3,000,000
Additional convertible notes authorized			3,000,000
Aggregate convertible notes authorized			18,000,000
Gains (losses) recorded as part of restructuring			$ 0
Aggregate proceeds		$ 3,000,000
Fair value of embedded derivative	$ 0	$ 96,000

Income Taxes Income Taxes - Pro

Income Taxes Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net loss before income taxes:
Net loss before income taxes	$ (74,224)	$ (48,133)	$ (31,148)
Current:
United States	139	0	0
Other	0	0	0
Current Income Tax Expense (Benefit)	139	0	0
Deferred:
United States	0	0	0
Other	0	0	0
Deferred Income Tax Expense (Benefit)	0	0	0
Income Tax Expense (Benefit)	$ 139	$ 0	$ 0
Effective tax rate	(0.19%)	0.00%	0.00%
United States
Net loss before income taxes:
Net loss before income taxes	$ (59,211)	$ (48,133)	$ (31,148)
Other
Net loss before income taxes:
Net loss before income taxes	$ (15,013)	$ 0	$ 0

Income Taxes - Summary of Signi

Income Taxes - Summary of Significant Components of Company's Net Deferred Income Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Net deferred tax assets:
Tax loss carry-forwards	$ 6,335	$ 42,863
Share based compensation	7,231	3,249
U.S. tax credit carry-forwards	3,823	631
Other assets	1,488	1,633
Other liabilities	(696)	(693)
Valuation allowance	(18,181)	(47,683)
Total net deferred income taxes	$ 0	$ 0

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of U.S. Statutory Rate and Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
U.S. federal tax rate	35.00%	35.00%	35.00%
State tax rate	(0.90%)	6.13%	5.36%
Taxable gain resulting from IP Assignment	(75.31%)	0.00%	0.00%
Non-taxable foreign loss	(6.98%)	0.00%	0.00%
Tax deferral from IP Assignment	3.56%	0.00%	0.00%
Other	0.02%	(0.04%)	(0.03%)
Valuation allowance	44.42%	(41.09%)	(40.33%)
Effective tax rate	(0.19%)	0.00%	0.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Tax Credit Carryforward [Line Items]
Amount transferred in state tax benefits to unrelated profitable businesses	$ 3,100,000
Proceeds received from amount transferred in state tax benefits to unrelated profitable businesses	$ 2,900,000
Accrued income taxes		$ 1,721,000	$ 0
Prepaid Expense, Noncurrent		2,800,000
Deferred tax liability related to investments		0
Provision for U.S. federal or state income taxes		139,000	$ 0	$ 0
Domestic tax authority
Tax Credit Carryforward [Line Items]
Net operating loss carry-forwards		61,100,000
Non-qualified stock options
Tax Credit Carryforward [Line Items]
Net operating loss carry-forwards		4,000,000
Net Operating Loss Related to Sale of Intangible Assets
Tax Credit Carryforward [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		29,500,000
Income Tax Expense
Tax Credit Carryforward [Line Items]
Amortization of prepaid expense		$ 139,000

Convertible Preferred Stock (De

Convertible Preferred Stock (Details) - USD ($) $ in Thousands	Oct. 30, 2013	Feb. 23, 2011	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Permanent And Temporary Equity [Line Items]
Conversion of convertible preferred stock to common stock, shares	12,120,531
Preferred stock, shares authorized			0	0
Accretion amount			$ 0	$ 0	$ 210
Accretion amount			$ 0	$ 0	240
Convertible preferred stock series B
Permanent And Temporary Equity [Line Items]
Issuance of convertible preferred stock		$ 23,800
Stock issuance costs		1,200
Convertible Preferred Stock
Permanent And Temporary Equity [Line Items]
Accretion amount					210
Convertible preferred stock series A-4
Permanent And Temporary Equity [Line Items]
Difference between stated and fair value		$ 1,300
Accretion amount					$ 240

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Details)	Nov. 06, 2015USD ($)	Nov. 10, 2014USD ($)	Oct. 30, 2013USD ($)$ / sharesshares	Dec. 31, 2015USD ($)vote$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)shares	Oct. 30, 2015$ / shares	Oct. 24, 2013shares
Class of Stock [Line Items]
Common stock, shares issued			7,728,000
Common stock, offering price per share (in dollars per share) | $ / shares							$ 10
Net proceeds from initial public offering | $			$ 68,300,000	$ 0	$ 0	$ 71,870,000
Underwriting discounts and commissions | $			5,400,000
Proceeds from notes payable to related parties | $			$ (3,600,000)	$ 0	$ 0	(3,644,000)
Conversion of convertible securities to common stock			12,120,531
Debt conversion, shares issued			1,860,363
IPO conversion price (in dollars per share) | $ / shares			$ 10
Common stock, shares authorized			150,000,000	150,000,000	150,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001	$ 0.001
Decrease in preferred stock			15,000,000	15,000,000	15,000,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001	$ 0.001
Shelf registration statement, aggregate dollar amount | $					$ 0
Proceeds from sale of common stock | $				$ 50,451,000	$ 0	$ 0
Number of voting rights | vote				1
Common Stock
Class of Stock [Line Items]
Common stock, shares issued				1,754,556		7,728,000
Underwriting discounts and commissions | $				$ 1,496,000		$ 5,410,000
Conversion of convertible securities to common stock						12,120,531
Amount available under sales agreement | $				$ 48,100,000
Stock offering underwriter overallotment option
Class of Stock [Line Items]
Common stock, shares issued			1,008,000
Employee stock purchase plan
Class of Stock [Line Items]
Equity awards			645,814
2013 equity plan
Class of Stock [Line Items]
Equity awards			3,229,068
Maximum
Class of Stock [Line Items]
Shelf registration statement, aggregate dollar amount | $		$ 150,000,000
Conversion one | Convertible Preferred Stock
Class of Stock [Line Items]
Warrants exercise to purchase convertible preferred stock								297,366
Conversion of convertible securities to common stock			297,366
Conversion two | Convertible Preferred Stock
Class of Stock [Line Items]
Warrants exercise to purchase convertible preferred stock			186,248
Conversion of convertible securities to common stock			186,248
Conversion three | Convertible Preferred Stock
Class of Stock [Line Items]
Conversion of convertible securities to common stock			12,120,531
Conversion four
Class of Stock [Line Items]
Warrants to purchase common stock			717,801
Conversion four | Convertible Preferred Stock
Class of Stock [Line Items]
Warrants to purchase common stock			717,801
Cantor Fitzgerald and Co. | Common Stock
Class of Stock [Line Items]
Common stock issued and sold under sales agreement				1,754,556	0
Proceeds from sale of common stock | $				$ 50,500,000
Sale of stock, commissions, percentage of gross sales				3.00%
Cantor Fitzgerald and Co. | Maximum | Common Stock
Class of Stock [Line Items]
Shelf registration statement, aggregate dollar amount | $		$ 50,000,000
RBC Capital Markets, LLC and Cantor Fitzgerald & Co | Maximum | Common Stock
Class of Stock [Line Items]
Prospectus supplement, aggregate dollar amount | $	$ 50,000,000

Stock Purchase Warrants - Sched

Stock Purchase Warrants - Schedule of Warrants Outstanding (Details)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Class of Warrant or Right [Line Items]
EXERCISE PRICE PER SHARE (in dollars per share)	$ 0.05
February 2019 | Common Stock
Class of Warrant or Right [Line Items]
Class of warrant or right expiration year and month	2019-02
NUMBER OF UNDERLYING SHARES (in shares) | shares	75,000
EXERCISE PRICE PER SHARE (in dollars per share)	$ 5
November 2019 | Common Stock
Class of Warrant or Right [Line Items]
Class of warrant or right expiration year and month	2019-11
NUMBER OF UNDERLYING SHARES (in shares) | shares	75,000
EXERCISE PRICE PER SHARE (in dollars per share)	$ 5
August 2020 | Common Stock
Class of Warrant or Right [Line Items]
Class of warrant or right expiration year and month	2020-08
NUMBER OF UNDERLYING SHARES (in shares) | shares	7,500
EXERCISE PRICE PER SHARE (in dollars per share)	$ 5
December 2019 | Common Stock
Class of Warrant or Right [Line Items]
Class of warrant or right expiration year and month	2019-12
NUMBER OF UNDERLYING SHARES (in shares) | shares	223,482
EXERCISE PRICE PER SHARE (in dollars per share)	$ 0.05

Stock Purchase Warrants - Sch58

Stock Purchase Warrants - Schedule of Key Assumptions Utilized in Fair Value Calculation (Details) - Convertible Preferred Stock Warrants	Oct. 30, 2013
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Volatility	65.00%
Dividend yield	0.00%
Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Expected term (years)	5 years 3 months 26 days
Risk-free interest rate	1.51%
Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Expected term (years)	6 years 10 months 2 days
Risk-free interest rate	2.00%

Stock Purchase Warrants - Addit

Stock Purchase Warrants - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Weighted average remaining lives	3 years 9 months 8 days
Change in fair value measurements	$ 0	$ 0	$ (3,717)

Stock-based Compensation - Stoc

Stock-based Compensation - Stock-based Compensation Expense for Options Granted and Restricted Stock as Reflected in the Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 12,945	$ 9,178	$ 2,858
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,500	1,339	222
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 10,445	$ 7,839	$ 2,636

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Key Assumptions Utilized in Fair Value Calculation (Details) - Stock options	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 years 26 days	6 years 3 months	6 years 3 months
Expected stock price volatility	74.11%	80.44%	79.20%
Risk-free interest rate	1.63%	1.90%	1.78%
Dividend yield	0.00%	0.00%	0.00%

Stock-based Compensation Stock-

Stock-based Compensation Stock-based Compensation - Schedule of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
NUMBER OF SHARES
Options outstanding at beginning of year (in shares) | shares	3,826,459
Granted (in shares) | shares	1,328,400
Exercised (in shares) | shares	(297,763)
Canceled (in shares) | shares	(273,510)
Options outstanding at end of year (in shares) | shares	4,583,586
Options vested and expected to vest (in shares) | shares	4,511,052
Options exercisable at end of year (in shares) | shares	2,237,663
WEIGHTED AVERAGE EXERCISE PRICE
Options outstanding at beginning of year, weighted average exercise price (in dollars per share) | $ / shares	$ 8.39
Granted (in dollars per share) | $ / shares	24.83
Exercised (in dollars per share) | $ / shares	4.38
Canceled (in dollars per share) | $ / shares	17
Options outstanding at end of year, weighted average exercise price (in dollars per share) | $ / shares	12.86
Options vested and expected to vest (in dollars per share) | $ / shares	12.75
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 7.92
WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE (YEARS)
Options outstanding (in years)	7 years 11 months 27 days
Options vested and expected to vest (in years)	7 years 11 months 23 days
Options exercisable (in years)	7 years 4 months 2 days
AGGREGATE INTRINSIC VALUE
Options outstanding | $	$ 55,918
Options vested and expected to vest | $	55,478
Options exercisable | $	$ 37,308

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	Oct. 30, 2013shares	Dec. 31, 2015USD ($)plan$ / sharesshares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2013USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, weighted average remaining contractual life		7 years 11 months 27 days
Number of equity compensation plans | plan		2
Stock-based awards, shares granted | shares		1,328,400
Weighted average grant date fair value (in dollars per share) | $ / shares		$ 24.83	$ 20.83	$ 3.11
Aggregate intrinsic value of options exercised | $		$ 4,300	$ 10,500	$ 9
Estimated fair value of common stock | $ / shares		$ 24.35
2005 Aerie pharmaceutical stock plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $		$ 28,200
Compensation cost, weighted average recognition period		2 years 7 months 10 days
Options outstanding, weighted average remaining contractual life		7 years 11 months 15 days
Stock-based awards, shares granted | shares	0
2013 equity plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards | shares		5,729,068
Minimum | 2005 Aerie pharmaceutical stock plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, expiration period		1 year
Maximum | 2005 Aerie pharmaceutical stock plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, expiration period		4 years
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, weighted average recognition period		2 years 11 months
Unrecognized compensation expense | $		$ 1,700

Stock-based Compensation - Sc64

Stock-based Compensation - Schedule of Stock Options Outstanding and Exercisable Option Plans (Details)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding	4,583,586
Options exercisable	2,237,663
$0.20 - $3.15
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding	2,251,290
Options outstanding, weighted average remaining contractual life	7 years 1 month 6 days
Options exercisable	1,606,555
$10.44 - $15.97
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding	148,770
Options outstanding, weighted average remaining contractual life	9 years 7 months 6 days
Options exercisable	4,737
$16.21 - $21.08
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding	1,239,250
Options outstanding, weighted average remaining contractual life	8 years 6 months
Options exercisable	477,675
$22.31 - $26.76
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding	336,701
Options outstanding, weighted average remaining contractual life	9 years 2 months 12 days
Options exercisable	54,138
$27.44 - $32.30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding	607,575
Options outstanding, weighted average remaining contractual life	9 years 1 month 6 days
Options exercisable	94,558
Minimum | $0.20 - $3.15
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower range limit | $ / shares	$ 0.20
Minimum | $10.44 - $15.97
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower range limit | $ / shares	10.44
Minimum | $16.21 - $21.08
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower range limit | $ / shares	16.21
Minimum | $22.31 - $26.76
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower range limit | $ / shares	22.31
Minimum | $27.44 - $32.30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower range limit | $ / shares	27.44
Maximum | $0.20 - $3.15
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, upper range limit | $ / shares	3.15
Maximum | $10.44 - $15.97
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, upper range limit | $ / shares	15.97
Maximum | $16.21 - $21.08
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, upper range limit | $ / shares	21.08
Maximum | $22.31 - $26.76
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, upper range limit | $ / shares	26.76
Maximum | $27.44 - $32.30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, upper range limit | $ / shares	$ 32.30

Stock-based Compensation - Sc65

Stock-based Compensation - Schedule of Restricted Stock Activity (Details) - Restricted stock	12 Months Ended
	Dec. 31, 2015$ / sharesshares
NUMBER OF SHARES
RSAs outstanding, beginning, number of shares | shares	103,064
Granted, number of shares | shares	99,027
Vested, number of shares | shares	(69,697)
Cancelled, number of shares | shares	(12,401)
RSAs outstanding, ending, number of shares | shares	119,993
WEIGHTED AVERAGE FAIR VALUE PER SHARE
RSAs outstanding, weighted average exercise price, beginning (in dollars per share) | $ / shares	$ 2.47
Granted, weighted average exercise price (in dollars per share) | $ / shares	28
Vested, Weighted average exercise price (in dollars per share) | $ / shares	3.35
Cancelled, weighted average exercise price (in dollars per share) | $ / shares	28.74
RSAs outstanding, weighted average exercise price, ending (in dollars per share) | $ / shares	$ 20.31

Commitments and Contingencies -

Commitments and Contingencies - Summary of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 1,623
2,017	1,598
2,018	1,291
2,019	1,390
2,020	1,295
2020 and thereafter	611
Total minimum lease payments	$ 7,808

Commitments and Contingencies67

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 1,500	$ 579	$ 403
Future minimum commitments under non-cancelable agreement	$ 620

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]
Interest expense			$ 588
Payment made to board members	$ 240	$ 333	$ 190

Benefit Plan (Details)

Benefit Plan (Details) - USD ($)	Oct. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum value of shares that can be purchased	$ 25,000
401 (K) Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee contribution, statutory limitation		$ 18,000	$ 17,500
Contributions by employer		$ 0	$ 0	$ 0
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of stock as a percentage of fair market value	85.00%
Shares reserved for future issuance		629,844

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 24, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Stock-based awards, shares granted		1,328,400
Option exercise price		$ 24.83
Subsequent events | Officer
Subsequent Event [Line Items]
Stock-based awards, shares granted	332,754
Option exercise price	$ 16.69
Aggregate fair value of option grants	$ 3.8
Restricted stock
Subsequent Event [Line Items]
Restricted stock award granted in period		99,027
Restricted stock | Subsequent events | Officer
Subsequent Event [Line Items]
Restricted stock award granted in period	55,960
Option vesting period	4 years
Aggregate fair value of option grants	$ 0.9
Employee Stock Option | Subsequent events | Officer
Subsequent Event [Line Items]
Option term	10 years
Option vesting period	4 years

Selected Quarterly Financial 71

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Operating expenses	$ (19,950)	$ (17,366)	$ (18,129)	$ (19,641)	$ (15,973)	$ (13,174)	$ (11,843)	$ (8,982)	$ (75,086)	$ (49,972)	$ (22,170)
Net loss attributable to common stockholders	$ (20,377)	$ (17,961)	$ (18,786)	$ (17,239)	$ (16,501)	$ (13,147)	$ (11,814)	$ (6,671)	$ (74,363)	$ (48,133)	$ (31,598)
Net loss per share attributable to common stockholders—basic and diluted (in dollars per share)	$ (0.76)	$ (0.69)	$ (0.73)	$ (0.70)	$ (0.69)	$ (0.54)	$ (0.49)	$ (0.28)	$ (2.88)	$ (2)	$ (6.38)