Aerie Pharmaceuticals (AERI) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 28, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	AERI
Entity Registrant Name	AERIE PHARMACEUTICALS INC
Entity Central Index Key	1,337,553
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding (shares)		27,892,973

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 58,519	$ 91,060
Short-term investments	48,512	45,502
Prepaid expenses and other current assets	1,171	1,865
Total current assets	108,202	138,427
Long-term investments	5,105	13,808
Furniture, fixtures and equipment, net	3,844	3,816
Other assets, net	2,979	3,076
Total assets	120,130	159,127
Current liabilities
Accounts payable and other current liabilities	13,598	16,565
Interest payable	545	551
Total current liabilities	14,143	17,116
Convertible notes, net of discounts	123,387	123,236
Total liabilities	137,530	140,352
Commitments and contingencies
Stockholders’ (deficit) equity
Preferred stock, $0.001 par value; 15,000,000 shares authorized as of June 30, 2016 and December 31, 2015; None issued and outstanding	0	0
Common stock, $0.001 par value; 150,000,000 shares authorized as of June 30, 2016 and December 31, 2015; 26,649,605 and 26,458,495 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively	27	26
Additional paid-in capital	246,070	236,492
Accumulated other comprehensive loss	(10)	(179)
Accumulated deficit	(263,487)	(217,564)
Total stockholders’ (deficit) equity	(17,400)	18,775
Total liabilities and stockholders’(deficit) equity	$ 120,130	$ 159,127

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (shares)	15,000,000	15,000,000
Preferred stock, issued (shares)	0	0
Preferred stock, outstanding (shares)	0	0
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (shares)	150,000,000	150,000,000
Common stock, shares issued (shares)	26,649,605	26,458,495
Common stock, shares outstanding (shares)	26,649,605	26,458,495

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating expenses
General and administrative	$ (9,386)	$ (7,502)	$ (19,187)	$ (15,525)
Research and development	(13,304)	(10,627)	(25,613)	(22,245)
Loss from operations	(22,690)	(18,129)	(44,800)	(37,770)
Other income (expense), net	(482)	(505)	(1,030)	1,897
Net loss before income taxes	(23,172)	(18,634)	(45,830)	(35,873)
Income tax expense	(47)	(152)	(93)	(152)
Net loss	(23,219)	(18,786)	(45,923)	(36,025)
Net loss attributable to common stockholders—basic and diluted	$ (23,219)	$ (18,786)	$ (45,923)	$ (36,025)
Net loss per share attributable to common stockholders—basic and diluted (in USD per share)	$ (0.87)	$ (0.73)	$ (1.72)	$ (1.43)
Weighted average number of common shares outstanding—basic and diluted (shares)	26,773,337	25,841,530	26,748,301	25,225,521
Unrealized gain on available-for-sale investments	$ 58	$ 17	$ 169	$ 66
Comprehensive loss	$ (23,161)	$ (18,769)	$ (45,754)	$ (35,959)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities
Net loss	$ (45,923)	$ (36,025)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	457	60
Amortization of deferred financing costs and debt discount	151	155
Amortization and accretion of premium or discount on available-for-sale investments, net	275	305
Stock-based compensation	7,415	6,217
Changes in operating assets and liabilities
Prepaid, current and other assets	791	(73)
Accounts payable and other current liabilities	(2,992)	(221)
Interest payable	(6)	(6)
Net cash used in operating activities	(39,832)	(29,588)
Cash flows from investing activities
Purchase of available-for-sale investments	(19,228)	(13,975)
Maturity of available-for-sale investments	24,815	24,088
Sale of available-for-sale investments	0	249
Purchase of furniture, fixtures and equipment	(459)	(1,052)
Net cash provided by investing activities	5,128	9,310
Cash flows from financing activities
Proceeds from sale of common stock, net of commissions	2,043	35,426
Proceeds from exercise of stock options	5	112
Proceeds from exercise of stock purchase rights	252	70
Tax withholdings related to restricted stock awards	(137)	0
Net cash provided by financing activities	2,163	35,608
Net change in cash and cash equivalents	(32,541)	15,330
Beginning of period	91,060	85,586
End of period	58,519	100,916
Supplemental disclosures
Income taxes paid	1,789	469
Interest paid	$ 1,096	$ 1,090

The Company

The Company	6 Months Ended
	Jun. 30, 2016
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. The Company received net proceeds from the IPO of approximately $68.3 million . On September 30, 2014, the Company issued $125.0 million aggregate principal amount of senior secured convertible notes (the “2014 Convertible Notes”), of which the Company received net proceeds of approximately $122.9 million . Refer to Note 7 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, and the availability under this “at-the-market” sales agreement was fully utilized in 2015. In addition, 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. The Company issued and sold a total of 111,403 shares of its common stock under these “at-the-market” sales agreements and received net proceeds of approximately $2.0 million , after deducting commissions at a rate of up to 3% of the gross sales price per share sold and other fees and expenses, during the three and six months ended June 30, 2016 . Since November 10, 2014 through June 30, 2016, the Company has issued and sold a total of 1,865,959 shares of its common stock under the “at-the-market” sales agreements and received net proceeds of approximately $52.5 million , after deducting commissions at a rate of up to 3% of the gross sales price per share sold and other fees and expenses. As of June 30, 2016 , $46.1 million remained available for issuance under the current “at-the-market” sales agreements. 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 cost sharing agreement pursuant to which Aerie and Aerie Limited will share the costs of the development of intellectual property. Additionally, in April 2015, the Company continued to prepare for internationally-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 entered into between Aerie Limited and Aerie Ireland Limited. 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 may be forced to delay, reduce or eliminate its research and development programs or commercialization efforts.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The Company’s interim consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments necessary for a fair statement of the Company’s consolidated financial position and results of operations for the interim periods presented. Certain information and disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K. The results for the three and six months ended June 30, 2016 are not necessarily indicative of the results to be expected for a full year, any other interim periods or any future year or period. Principles of Consolidation The interim 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 these estimates. 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 Comprehensive loss on the Company’s consolidated statements of operations and comprehensive loss and in Accumulated other comprehensive loss on the Company’s consolidated balance sheets. For the three and six months ended June 30, 2016 , the Company recognized unrealized gains of $58,000 and $169,000 , respectively. For the three and six months ended June 30, 2015 , the Company recognized unrealized gains of $17,000 and $66,000 , respectively. 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 three and six months ended June 30, 2016 or 2015 . 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 June 30, 2016 , 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 $124.2 million and $140.1 million as of June 30, 2016 and December 31, 2015 , respectively. 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 June 30, 2016 as compared to December 31, 2015 . As of June 30, 2016 and December 31, 2015 , all outstanding warrants are classified as equity and are recorded within additional paid-in capital on the consolidated balance sheets. Recent Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-01, which provides guidance related to the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. The guidance is effective for annual periods beginning after December 15, 2017, and all 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 and disclosures. In February 2016, the FASB issued ASU 2016-02, which requires lessees to recognize a right of use asset and related lease liability for those leases classified as operating leases at the commencement date and have lease terms of more than 12 months. The guidance is effective for annual periods beginning after December 15, 2018, and all 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 and disclosures. In March 2016, the FASB issued ASU 2016-09, which provides guidance related to how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The new standard is effective for the Company for annual periods beginning 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 and disclosures. In June 2016, the FASB issued ASU 2016-13, which requires that financial assets measured at amortized cost be presented at the net amount expected to be collected. Currently, GAAP delays recognition of the full amount of credit losses until the loss is probable of occurring. Under this new standard, the income statement will reflect an entity’s current estimate of all expected credit losses. The measurement of expected credit losses will be based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. The new standard is effective for the Company for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and disclosures. 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 are therefore included in the calculation of the weighted-average number of shares of common stock as common stock equivalents. 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: THREE MONTHS ENDED SIX MONTHS ENDED 2016 2015 2016 2015 2014 Convertible Notes (1) 5,040,323 5,040,323 5,040,323 5,040,323 Outstanding stock options 5,271,279 4,601,831 5,271,279 4,601,831 Stock purchase warrants 157,500 159,506 157,500 159,506 Unvested restricted common stock awards 184,633 154,014 184,633 154,014 (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 7 for further information regarding the 2014 Convertible Notes.

Other Income (Expense), Net

Other Income (Expense), Net	6 Months Ended
	Jun. 30, 2016
Other Income and Expenses [Abstract]
Other Income (Expense), Net	Other Income (Expense), Net Other income (expense), net consists of the following: THREE MONTHS ENDED SIX MONTHS ENDED (in thousands) 2016 2015 2016 2015 Interest and amortization expense $ (622 ) $ (622 ) $ (1,310 ) $ (1,239 ) Sale of New Jersey state tax benefit — — — 2,898 Investment and other income, net 140 117 280 238 $ (482 ) $ (505 ) $ (1,030 ) $ 1,897

Investments

Investments	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Cash, cash equivalents and investments as of June 30, 2016 included the following: (in thousands) AMORTIZED COST GROSS UNREALIZED GAINS GROSS UNREALIZED LOSSES FAIR VALUE Cash and cash equivalents: Cash and money market accounts $ 55,621 $ — $ — $ 55,621 Commercial paper $ 1,498 $ — $ — 1,498 Government agencies $ 1,400 $ — $ — 1,400 Total cash and cash equivalents $ 58,519 $ — $ — $ 58,519 Investments: Certificates of deposit (due within 1 year) $ 13,640 $ 11 $ (1 ) $ 13,650 Certificates of deposit (due within 2 years) 960 2 — 962 Commercial paper (due within 1 year) 6,493 1 — 6,494 Corporate bonds (due within 1 year) 23,867 6 (28 ) 23,845 Corporate bonds (due within 2 years) 4,145 2 (5 ) 4,142 Government agencies (due within 1 year) 4,522 2 — 4,524 Total investments $ 53,627 $ 24 $ (34 ) $ 53,617 Total cash, cash equivalents, and investments $ 112,146 $ 24 $ (34 ) $ 112,136 Cash, cash equivalents and investments as of December 31, 2015 included the following: (in thousands) AMORTIZED COST GROSS UNREALIZED GAINS GROSS UNREALIZED LOSSES FAIR 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

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
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 JUNE 30, 2016 (in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents: Cash and money market accounts $ 55,621 $ — $ — $ 55,621 Commercial paper — 1,498 — 1,498 Government agencies — 1,400 — 1,400 Total cash and cash equivalents $ 55,621 $ 2,898 $ — $ 58,519 Investments: Certificates of deposit $ — $ 14,612 $ — $ 14,612 Commercial paper — 6,494 — 6,494 Corporate bonds — 27,987 — 27,987 Government agencies — 4,524 — 4,524 Total investments $ — $ 53,617 $ — $ 53,617 Total cash, cash equivalents, and investments $ 55,621 $ 56,515 $ — $ 112,136 FAIR VALUE MEASUREMENTS AS OF DECEMBER 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 As of June 30, 2016 and December 31, 2015 , the estimated fair value of the 2014 Convertible Notes was $124.2 million and $140.1 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 June 30, 2016 as compared to December 31, 2015 . 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.

Accounts Payable & Other Curren

Accounts Payable & Other Current Liabilities	6 Months Ended
	Jun. 30, 2016
Payables and Accruals [Abstract]
Accounts Payable & Other Current Liabilities	Accounts Payable & Other Current Liabilities Accounts payable and other current liabilities consist of the following: (in thousands) JUNE 30, 2016 DECEMBER 31, 2015 Accounts payable $ 2,270 $ 1,629 Accrued expenses and other liabilities: Employee benefits and compensation related accruals (1) 2,347 3,085 General and administrative related accruals (2) 1,966 2,389 Research and development related accruals (3) 7,015 7,741 Accrued income taxes (4) — 1,721 $ 13,598 $ 16,565 (1) Comprised of accrued bonus, accrued vacation and other employee related expenses, 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, contract research organizations, contract manufacturing organizations and other service providers that assist in conducting preclinical research studies and clinical trials. (4) Accrued income taxes were the result of the taxable gain associated with the IP Assignment that occurred in March 2015 and were paid in the three months ended March 2016.

Convertible Notes

Convertible Notes	6 Months Ended
	Jun. 30, 2016
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 ™ or Roclatan ™ , 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 shares of common stock or receive 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 June 30, 2016 , 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 June 30, 2016 , the Company recognized unamortized debt discounts and debt issuance costs of $1.6 million . Debt discounts 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 June 30, 2016 : (in thousands) JUNE 30, 2016 Gross proceeds $ 125,000 Initial value of issuance costs recorded as debt discount (2,146 ) Amortization of debt discount 533 Carrying value $ 123,387 For the three and six months ended June 30, 2016 and 2015 , interest expense related to the 2014 Convertible Notes was $545,000 and $1.1 million , respectively.

Stock Purchase Warrants

Stock Purchase Warrants	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Stock Purchase Warrants	Stock Purchase Warrants As of June 30, 2016 , 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 as of June 30, 2016 are all currently exercisable with weighted-average remaining lives of 3.28 years.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation Stock-based compensation expense for options granted and restricted stock awards (“RSAs”) is reflected in the consolidated statements of operations as follows: THREE MONTHS ENDED SIX MONTHS ENDED (in thousands) 2016 2015 2016 2015 Research and development $ 814 $ 583 $ 1,526 $ 1,094 General and administrative 3,067 2,893 5,889 5,123 Total $ 3,881 $ 3,476 $ 7,415 $ 6,217 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 the 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. As of June 30, 2016 , the Company had $29.8 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 2.5 years as of June 30, 2016 . The weighted average remaining contractual life on all outstanding options as of June 30, 2016 was 7.8 years . As of June 30, 2016 , the Company had $2.9 million of unrecognized compensation expense, related to unvested RSAs. This cost is expected to be recognized over a weighted average period of 3.0 years as of June 30, 2016 . The weighted average remaining contractual term for RSAs as of June 30, 2016 was 3.0 years . 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”), as described below. 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 remaining shares 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 WEIGHTED AVERAGE WEIGHTED AGGREGATE Options outstanding at December 31, 2015 4,583,586 $ 12.86 Granted 758,736 16.18 Exercised (30,403 ) 2.44 Canceled (40,640 ) 21.96 Options outstanding at June 30, 2016 5,271,279 $ 11.04 7.8 $ 35,051 Options vested and expected to vest at June 30, 2016 (1) 5,194,864 $ 13.25 7.8 $ 34,896 Options exercisable at June 30, 2016 2,760,266 $ 9.48 7.0 $ 27,204 (1) Includes vested options and options that are expected to vest as of the balance sheet date after applying an estimated annual forfeiture rate. The following table summarizes the RSA activity under the Plans: NUMBER OF SHARES WEIGHTED AVERAGE FAIR VALUE PER SHARE RSAs outstanding at December 31, 2015 119,993 $ 20.31 Granted 112,655 15.98 Vested (47,538 ) 16.90 Canceled (477 ) 19.23 RSAs outstanding at June 30, 2016 184,633 $ 18.55 The vesting of the RSAs is time and service based with terms of one to four years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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 asserted claims under the Securities Exchange Act of 1934, as amended, and alleged 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 trial of Rhopressa TM , named “Rocket 1,” and Rhopressa TM . On November 30, 2015, the defendants filed a motion to dismiss the amended complaint. On June 20, 2016, the United States District Court for the District of New Jersey granted the defendants’ motion to dismiss the amended complaint. The Company considers the matter concluded. 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 these service providers were $310,000 as of June 30, 2016 and are expected to be incurred by December 2017.

Significant Accounting Polici16

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s interim consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments necessary for a fair statement of the Company’s consolidated financial position and results of operations for the interim periods presented. Certain information and disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K. The results for the three and six months ended June 30, 2016 are not necessarily indicative of the results to be expected for a full year, any other interim periods or any future year or period.
Principles of Consolidation	Principles of Consolidation The interim 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 these estimates.
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 Comprehensive loss on the Company’s consolidated statements of operations and comprehensive loss and in Accumulated other comprehensive loss on the Company’s consolidated balance sheets. For the three and six months ended June 30, 2016 , the Company recognized unrealized gains of $58,000 and $169,000 , respectively. For the three and six months ended June 30, 2015 , the Company recognized unrealized gains of $17,000 and $66,000 , respectively. 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 three and six months ended June 30, 2016 or 2015 . 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-01, which provides guidance related to the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. The guidance is effective for annual periods beginning after December 15, 2017, and all 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 and disclosures. In February 2016, the FASB issued ASU 2016-02, which requires lessees to recognize a right of use asset and related lease liability for those leases classified as operating leases at the commencement date and have lease terms of more than 12 months. The guidance is effective for annual periods beginning after December 15, 2018, and all 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 and disclosures. In March 2016, the FASB issued ASU 2016-09, which provides guidance related to how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The new standard is effective for the Company for annual periods beginning 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 and disclosures. In June 2016, the FASB issued ASU 2016-13, which requires that financial assets measured at amortized cost be presented at the net amount expected to be collected. Currently, GAAP delays recognition of the full amount of credit losses until the loss is probable of occurring. Under this new standard, the income statement will reflect an entity’s current estimate of all expected credit losses. The measurement of expected credit losses will be based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. The new standard is effective for the Company for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and disclosures.
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 are therefore included in the calculation of the weighted-average number of shares of common stock as common stock equivalents. 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 Polici17

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016
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: THREE MONTHS ENDED SIX MONTHS ENDED 2016 2015 2016 2015 2014 Convertible Notes (1) 5,040,323 5,040,323 5,040,323 5,040,323 Outstanding stock options 5,271,279 4,601,831 5,271,279 4,601,831 Stock purchase warrants 157,500 159,506 157,500 159,506 Unvested restricted common stock awards 184,633 154,014 184,633 154,014 (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 7 for further information regarding the 2014 Convertible Notes.

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	6 Months Ended
	Jun. 30, 2016
Other Income and Expenses [Abstract]
Schedule of Other Income (Expense), Net	Other income (expense), net consists of the following: THREE MONTHS ENDED SIX MONTHS ENDED (in thousands) 2016 2015 2016 2015 Interest and amortization expense $ (622 ) $ (622 ) $ (1,310 ) $ (1,239 ) Sale of New Jersey state tax benefit — — — 2,898 Investment and other income, net 140 117 280 238 $ (482 ) $ (505 ) $ (1,030 ) $ 1,897

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Cash, Cash Equivalents and Investments	Cash, cash equivalents and investments as of June 30, 2016 included the following: (in thousands) AMORTIZED COST GROSS UNREALIZED GAINS GROSS UNREALIZED LOSSES FAIR VALUE Cash and cash equivalents: Cash and money market accounts $ 55,621 $ — $ — $ 55,621 Commercial paper $ 1,498 $ — $ — 1,498 Government agencies $ 1,400 $ — $ — 1,400 Total cash and cash equivalents $ 58,519 $ — $ — $ 58,519 Investments: Certificates of deposit (due within 1 year) $ 13,640 $ 11 $ (1 ) $ 13,650 Certificates of deposit (due within 2 years) 960 2 — 962 Commercial paper (due within 1 year) 6,493 1 — 6,494 Corporate bonds (due within 1 year) 23,867 6 (28 ) 23,845 Corporate bonds (due within 2 years) 4,145 2 (5 ) 4,142 Government agencies (due within 1 year) 4,522 2 — 4,524 Total investments $ 53,627 $ 24 $ (34 ) $ 53,617 Total cash, cash equivalents, and investments $ 112,146 $ 24 $ (34 ) $ 112,136 Cash, cash equivalents and investments as of December 31, 2015 included the following: (in thousands) AMORTIZED COST GROSS UNREALIZED GAINS GROSS UNREALIZED LOSSES FAIR 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

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Summary of Fair Value of Financial Assets and Liabilities that are Measured at Fair Value and the Classification by Level of Input within Fair Value Hierarchy	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 JUNE 30, 2016 (in thousands) Level 1 Level 2 Level 3 Total Cash and cash equivalents: Cash and money market accounts $ 55,621 $ — $ — $ 55,621 Commercial paper — 1,498 — 1,498 Government agencies — 1,400 — 1,400 Total cash and cash equivalents $ 55,621 $ 2,898 $ — $ 58,519 Investments: Certificates of deposit $ — $ 14,612 $ — $ 14,612 Commercial paper — 6,494 — 6,494 Corporate bonds — 27,987 — 27,987 Government agencies — 4,524 — 4,524 Total investments $ — $ 53,617 $ — $ 53,617 Total cash, cash equivalents, and investments $ 55,621 $ 56,515 $ — $ 112,136 FAIR VALUE MEASUREMENTS AS OF DECEMBER 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

Accounts Payable & Other Curr21

Accounts Payable & Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Payables and Accruals [Abstract]
Summary of Accounts Payable and Other Current Liabilities	Accounts payable and other current liabilities consist of the following: (in thousands) JUNE 30, 2016 DECEMBER 31, 2015 Accounts payable $ 2,270 $ 1,629 Accrued expenses and other liabilities: Employee benefits and compensation related accruals (1) 2,347 3,085 General and administrative related accruals (2) 1,966 2,389 Research and development related accruals (3) 7,015 7,741 Accrued income taxes (4) — 1,721 $ 13,598 $ 16,565 (1) Comprised of accrued bonus, accrued vacation and other employee related expenses, 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, contract research organizations, contract manufacturing organizations and other service providers that assist in conducting preclinical research studies and clinical trials. (4) Accrued income taxes were the result of the taxable gain associated with the IP Assignment that occurred in March 2015 and were paid in the three months ended March 2016.

Convertible Notes (Tables)

Convertible Notes (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Summary of Carrying Value of Convertible Notes	The table below summarizes the carrying value of the 2014 Convertible Notes as of June 30, 2016 : (in thousands) JUNE 30, 2016 Gross proceeds $ 125,000 Initial value of issuance costs recorded as debt discount (2,146 ) Amortization of debt discount 533 Carrying value $ 123,387

Stock Purchase Warrants (Tables

Stock Purchase Warrants (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Equity Classified Warrants Outstanding	As of June 30, 2016 , 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

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense for Options Granted, Restricted Stock and Stock Purchase Rights as Reflected in Statement of Operations	Stock-based compensation expense for options granted and restricted stock awards (“RSAs”) is reflected in the consolidated statements of operations as follows: THREE MONTHS ENDED SIX MONTHS ENDED (in thousands) 2016 2015 2016 2015 Research and development $ 814 $ 583 $ 1,526 $ 1,094 General and administrative 3,067 2,893 5,889 5,123 Total $ 3,881 $ 3,476 $ 7,415 $ 6,217
Schedule of Stock Options Activity	The following table summarizes the stock option activity under the Plans: NUMBER OF WEIGHTED AVERAGE WEIGHTED AGGREGATE Options outstanding at December 31, 2015 4,583,586 $ 12.86 Granted 758,736 16.18 Exercised (30,403 ) 2.44 Canceled (40,640 ) 21.96 Options outstanding at June 30, 2016 5,271,279 $ 11.04 7.8 $ 35,051 Options vested and expected to vest at June 30, 2016 (1) 5,194,864 $ 13.25 7.8 $ 34,896 Options exercisable at June 30, 2016 2,760,266 $ 9.48 7.0 $ 27,204 (1) Includes vested options and options that are expected to vest as of the balance sheet date after applying an estimated annual forfeiture rate.
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, 2015 119,993 $ 20.31 Granted 112,655 15.98 Vested (47,538 ) 16.90 Canceled (477 ) 19.23 RSAs outstanding at June 30, 2016 184,633 $ 18.55

The Company - Additional Inform

The Company - Additional Information (Detail)	Nov. 06, 2015USD ($)	Nov. 03, 2014USD ($)	Sep. 30, 2014USD ($)	Oct. 31, 2013USD ($)$ / sharesshares	Jun. 30, 2016USD ($)shares	Jun. 30, 2016USD ($)Segmentshares	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)shares
Organization And Nature Of Business [Line Items]
Number of operating segments | Segment						1
Common stock initial public offering (in shares) | shares				7,728,000
Net proceeds from initial public offering				$ 68,300,000
Proceeds from sale of common stock						$ 2,043,000	$ 35,426,000
Sale of stock, commissions, percentage of gross sales (up to)					3.00%	3.00%		3.00%
Convertible notes
Organization And Nature Of Business [Line Items]
Gross proceeds			$ 125,000,000
Proceeds from issuance of convertible notes, net of discounts			$ 122,900,000
IPO
Organization And Nature Of Business [Line Items]
Public offering price of the shares sold (in USD per share) | $ / shares				$ 10
Maximum
Organization And Nature Of Business [Line Items]
Shelf registration statement, aggregate dollar amount	$ 150,000,000	$ 150,000,000
Common stock
Organization And Nature Of Business [Line Items]
Shelf registration, amount available for issuance					$ 46,100,000	$ 46,100,000		$ 46,100,000
Cantor Fitzgerald and Co. | Common stock
Organization And Nature Of Business [Line Items]
Common stock issued and sold under sales agreement (in shares) | shares					111,403	111,403		1,865,959
Proceeds from sale of common stock					$ 2,000,000	$ 2,000,000		$ 52,500,000
Cantor Fitzgerald and Co. | Common stock | Maximum
Organization And Nature Of Business [Line Items]
Shelf registration statement, aggregate dollar amount	$ 50,000,000	$ 50,000,000

Significant Accounting Polici26

Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Accounting Policies [Abstract]
Unrealized gain (loss) on available-for-sale investments	$ 58,000	$ 17,000	$ 169,000	$ 66,000
Realized investment gains or losses	0	$ 0	0	$ 0
Investments owned, at fair value			0
Long-term debt, fair value	$ 124,200,000		$ 124,200,000		$ 140,100,000
Warrants exercise price	$ 0.05		$ 0.05

Significant Accounting Polici27

Significant Accounting Policies - Schedule of Computation of Diluted EPS (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Ownership cap in shares of common stock (as a percentage)	9.985%		9.985%
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 (in shares)	5,271,279	4,601,831	5,271,279	4,601,831
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 (in shares)	157,500	159,506	157,500	159,506
Unvested 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 (in shares)	184,633	154,014	184,633	154,014
Convertible notes
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 (in shares)	5,040,323	5,040,323	5,040,323	5,040,323
Ownership cap in shares of common stock (as a percentage)	9.985%		9.985%

Other Income (Expense), Net - S

Other Income (Expense), Net - Schedule of Other Income (Expense), Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Income and Expenses [Abstract]
Interest and amortization expense	$ (622)	$ (622)	$ (1,310)	$ (1,239)
Sale of New Jersey state tax benefit	0	0	0	2,898
Investment and other income, net	140	117	280	238
Other income (expense), net	$ (482)	$ (505)	$ (1,030)	$ 1,897

Investments - Summary of Cash,

Investments - Summary of Cash, Cash Equivalents and Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Abstract]
Amortized Cost	$ 58,519	$ 91,060	$ 100,916	$ 85,586
Fair Value	58,519	91,060
Investments [Abstract]
Amortized Cost	112,146	150,549
Gross Unrealized Gains	24	1
Gross Unrealized Losses	(34)	(180)
Fair Value	112,136	150,370
Government agencies
Cash and Cash Equivalents [Abstract]
Amortized Cost	1,400
Fair Value	1,400
Cash and money market accounts
Cash and Cash Equivalents [Abstract]
Amortized Cost	55,621	91,060
Fair Value	55,621	91,060
Commercial paper
Cash and Cash Equivalents [Abstract]
Amortized Cost	1,498
Fair Value	1,498
Certificates of deposit (due within 1 year)
Investments [Abstract]
Amortized Cost	13,640	13,611
Gross Unrealized Gains	11	1
Gross Unrealized Losses	(1)	(7)
Fair Value	13,650	13,605
Certificates of deposit (due within 2 years)
Investments [Abstract]
Amortized Cost	960	4,760
Gross Unrealized Gains	2	0
Gross Unrealized Losses	0	(10)
Fair Value	962	4,750
Commercial paper
Investments [Abstract]
Amortized Cost	6,493	5,977
Gross Unrealized Gains	1	0
Gross Unrealized Losses	0	(11)
Fair Value	6,494	5,966
Corporate bonds (due within 1 year)
Investments [Abstract]
Amortized Cost	23,867	24,002
Gross Unrealized Gains	6	0
Gross Unrealized Losses	(28)	(65)
Fair Value	23,845	23,937
Corporate bonds (due within 2 years)
Investments [Abstract]
Amortized Cost	4,145	9,142
Gross Unrealized Gains	2	0
Gross Unrealized Losses	(5)	(84)
Fair Value	4,142	9,058
Government agencies
Investments [Abstract]
Amortized Cost	4,522	1,997
Gross Unrealized Gains	2	0
Gross Unrealized Losses	0	(3)
Fair Value	4,524	1,994
Total investments
Investments [Abstract]
Amortized Cost	53,627	59,489
Gross Unrealized Gains	24	1
Gross Unrealized Losses	(34)	(180)
Fair Value	$ 53,617	$ 59,310

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value of Financial Assets and Liabilities that are Measured at Fair Value and the Classification by Level of Input within Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	$ 58,519	$ 91,060
Total investments	53,617	59,310
Total cash, cash equivalents, and investments	112,136	150,370
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	55,621	91,060
Total investments	0	0
Total cash, cash equivalents, and investments	55,621	91,060
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	2,898
Total investments	53,617	59,310
Total cash, cash equivalents, and investments	56,515	59,310
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
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	14,612	18,355
Certificates of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	14,612	18,355
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	6,494	5,966
Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	6,494	5,966
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	27,987	32,995
Corporate bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	27,987	32,995
Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	4,524	1,994
Government agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	4,524	1,994
Cash and money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	55,621	91,060
Cash and money market accounts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	55,621	$ 91,060
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	1,498
Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	1,498
Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	1,400
Government agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	$ 1,400

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Long-term debt, fair value	$ 124.2	$ 140.1

Accounts Payable & Other Curr32

Accounts Payable & Other Current Liabilities - Summary of Accounts Payable and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts payable	$ 2,270	$ 1,629
Accrued expenses and other liabilities:
Employee benefits and compensation related accruals	2,347	3,085
General and administrative related accruals	1,966	2,389
Research and development related accruals	7,015	7,741
Accrued income taxes	0	1,721
Accounts payable and other accrued liabilities	$ 13,598	$ 16,565

Convertible Notes - Additional

Convertible Notes - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		9 Months Ended
	Mar. 31, 2015	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2015USD ($)	Sep. 30, 2014USD ($)$ / shares
Debt Instrument [Line Items]
Debt instrument, anniversary term				7 years
Debt instrument, convertible, ownership cap in shares of common stock		9.985%		9.985%
Convertible notes
Debt Instrument [Line Items]
Debt instrument, interest rate percentage						1.75%
Debt instrument, convertible, stock price trigger (in dollars per share) | $ / shares						$ 30
Debt instrument, convertible, threshold trading days						30 days
Debt instrument, transaction fee						$ 625
Reimbursed expenses incurred by Deerfield in connection with transaction						250
Legal and advisory fees						$ 1,300
Debt instrument, convertible, ownership cap in shares of common stock		9.985%		9.985%
Debt instrument, convertible, initial conversion price per share | $ / shares		$ 24.80		$ 24.80
Debt instrument, convertible, common stock conversion rate per $1,000 principal amount				0.04032
Debt instrument, convertible, conversion premium percentage		30.00%		30.00%
Debt instrument, convertible, maximum increase to the initial conversion rate per $1,000 principal amount		0.01207		0.01207
Debt instrument, convertible, ownership percentage threshold necessary to declare principal and accrued interest payable and due in the event of default		50.00%		50.00%
Unamortized debt discounts and debt issuance cost		$ 1,600		$ 1,600
Interest expense related to convertible notes		$ 545	$ 545	$ 1,100	$ 1,100
Subsidiaries | Convertible notes
Debt Instrument [Line Items]
Business acquisition, percentage of voting interests acquired	65.00%

Convertible Notes - Summary of

Convertible Notes - Summary of Carrying Value of Convertible Notes (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Gross proceeds	$ 125,000
Initial value of issuance costs recorded as debt discount	(2,146)
Amortization of debt discount	533
Carrying value	$ 123,387	$ 123,236

Stock Purchase Warrants - Sched

Stock Purchase Warrants - Schedule of Equity Classified Warrants Outstanding (Detail)	Jun. 30, 2016$ / sharesshares
Class of Warrant or Right [Line Items]
EXERCISE PRICE PER SHARE	$ 0.05
February 2019 | Common stock
Class of Warrant or Right [Line Items]
NUMBER OF UNDERLYING SHARES | shares	75,000
EXERCISE PRICE PER SHARE	$ 5
November 2019 | Common stock
Class of Warrant or Right [Line Items]
NUMBER OF UNDERLYING SHARES | shares	75,000
EXERCISE PRICE PER SHARE	$ 5
August 2020 | Common stock
Class of Warrant or Right [Line Items]
NUMBER OF UNDERLYING SHARES | shares	7,500
EXERCISE PRICE PER SHARE	$ 5
December 2019 | Common stock
Class of Warrant or Right [Line Items]
NUMBER OF UNDERLYING SHARES | shares	223,482
EXERCISE PRICE PER SHARE	$ 0.05

Stock Purchase Warrants - Addit

Stock Purchase Warrants - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Weighted-average remaining lives	3 years 3 months 11 days

Stock-based Compensation - Stoc

Stock-based Compensation - Stock-Based Compensation Expense for Options Granted, Restricted Stock and Stock Purchase Rights as Reflected in Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,881	$ 3,476	$ 7,415	$ 6,217
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	814	583	1,526	1,094
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,067	$ 2,893	$ 5,889	$ 5,123

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) $ in Millions	Apr. 10, 2015shares	Oct. 30, 2013shares	Jun. 30, 2016USD ($)planshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, weighted average remaining contractual life In years)			7 years 9 months
Number of equity compensation plans | plan			2
Additional awards granted			758,736
2013 Omnibus incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional awards granted	0
Equity awards (up to)			5,729,068
2005 Aerie Pharmaceutical stock plan and 2013 omnibus incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $			$ 29.8
Compensation cost, weighted average recognition period (in years)			2 years 6 months
Options outstanding, weighted average remaining contractual life In years)			7 years 9 months
2005 Aerie Pharmaceutical Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional awards granted		0
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $			$ 2.9
Restricted stock awards, weighted average remaining contractual term (in years)			3 years
Restricted stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period In years)			1 year
Restricted stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period In years)			4 years

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock Options Activity (Detail) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
NUMBER OF SHARES
Options outstanding at December 31, 2015 | shares	4,583,586
Granted | shares	758,736
Exercised | shares	(30,403)
Canceled | shares	(40,640)
Options outstanding at June 30, 2016 | shares	5,271,279
Options vested and expected to vest at June 30, 2016 | shares	5,194,864
Options exercisable at June 30, 2016 | shares	2,760,266
WEIGHTED AVERAGE EXERCISE PRICE
Options outstanding at December 31, 2015 (in USD per share) | $ / shares	$ 12.86
Granted (in USD per share) | $ / shares	16.18
Exercised (in USD per share) | $ / shares	2.44
Cancelled (in USD per share) | $ / shares	21.96
Options outstanding at June 30, 2016 (in USD per share) | $ / shares	11.04
Options vested and expected to vest at June 30, 2016 (in USD per share) | $ / shares	13.25
Options exercisable at June 30, 2016 (in USD per share) | $ / shares	$ 9.48
WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE (YEARS)
Options outstanding, weighted average remaining contractual life	7 years 9 months
Options vested and expected to vest at June 30, 2016	7 years 9 months
Options exercisable at June 30, 2016	7 years
AGGREGATE INTRINSIC VALUE
Options outstanding | $	$ 35,051
Options vested and expected to vest at June 30, 2016 | $	34,896
Options exercisable at June 30, 2016 | $	$ 27,204

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock and Restricted Stock Units Activity (Details) - Restricted stock	6 Months Ended
	Jun. 30, 2016$ / sharesshares
NUMBER OF SHARES
RSAs outstanding at December 31, 2015 | shares	119,993
Granted | shares	112,655
Vested | shares	(47,538)
Canceled | shares	(477)
RSAs outstanding at June 30, 2016 | shares	184,633
WEIGHTED AVERAGE FAIR VALUE PER SHARE
Restricted stock, beginning balance at December 31, 2015 (in USD per share) | $ / shares	$ 20.31
RSA granted in period (in USD per share) | $ / shares	15.98
RSA vested in period (in USD per share) | $ / shares	16.90
RSA canceled in period (in USD per share) | $ / shares	19.23
Restricted stock, ending balance at June 30, 2016 (in USD per share) | $ / shares	$ 18.55

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future minimum commitments under non-cancelable agreement	$ 310