Nephrogenex (NRXGQ) 10-Q 12 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 10, 2015
Document and Entity Information
Entity Registrant Name	NephroGenex, Inc.
Entity Central Index Key	1,338,095
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		12,944,518
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 19,250	$ 13,978
Restricted cash	25	0
Short-term investments	1,652	14,698
Prepaid expenses and other assets	874	309
Total current assets	21,801	28,985
Property and equipment, net	41	36
Other assets	298	210
Total assets	22,140	29,231
Current liabilities
Accounts payable	2,279	1,750
Accrued and other liabilities	1,554	1,405
Current portion of note payable	2,060	293
Total current liabilities	5,893	3,448
Note payable, less current portion	4,792	6,442
Other long-term liabilities	23	10
Liabilities	10,708	9,900
Stockholders’ equity
Preferred stock; $.001 par value; 5,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock; $.001 par value; 100,000,000 shares authorized; 10,742,387 and 8,862,114 shares issued and outstanding as of September 30, 2015 and December 31, 2014, respectively	11	9
Additional paid-in capital	86,140	77,149
Accumulated other comprehensive loss	(1)	(8)
Accumulated deficit	(74,718)	(57,819)
Total stockholders’ equity	11,432	19,331
Total liabilities and stockholders’ equity	$ 22,140	$ 29,231

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	10,742,387	8,862,114
Common stock, shares outstanding	10,742,387	8,862,114
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Statements of Comprehensive Los

Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Expenses:
Research and development	$ 3,597	$ 3,077	$ 11,206	$ 7,409
General and administrative	1,612	1,350	5,284	3,945
Total expenses	5,209	4,427	16,490	11,354
Loss from operations	(5,209)	(4,427)	(16,490)	(11,354)
Other income (expense):
Change in value of preferred stock warrants	0	0	0	(140)
Interest expense	(142)	0	(426)	(78)
Interest income	4	12	17	34
Net loss	$ (5,347)	$ (4,415)	$ (16,899)	$ (11,538)
Net loss per share - basic and diluted (in dollars per share)	$ (0.53)	$ (0.50)	$ (1.82)	$ (1.55)
Weighted average shares outstanding - basic and diluted (in shares)	10,165,618	8,855,114	9,302,550	7,448,208
Other comprehensive loss:
Unrealized gain/(loss) on short-term investments	$ 5	$ 24	$ 7	$ (13)
Comprehensive loss	$ (5,342)	$ (4,391)	$ (16,892)	$ (11,551)

Statement of Stockholders' Equi

Statement of Stockholders' Equity - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance (in shares) at Dec. 31, 2014		8,862,114
Balance at Dec. 31, 2014	$ 19,331	$ 9	$ 77,149	$ (8)	$ (57,819)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock for restricted stock units (unaudited)		4,500
Issuance of common stock at IPO (in shares)		1,612,500
Issuance of common stock at IPO	7,099	$ 2	7,097
Issuance of common stock in at-the-market public offering , net of offering expenses of $94,000 (in shares)		263,273
Issuance of common stock in at-the-market public offering , net of offering expenses of $94,000	979		979
Stock-based compensation (unaudited)	915		915
Other comprehensive income (unaudited)	7			7
Net loss	(16,899)				(16,899)
Balance at Sep. 30, 2015	$ 11,432	$ 11	$ 86,140	$ (1)	$ (74,718)
Balance (in shares) at Sep. 30, 2015		10,742,387

Statement of Stockholders' Equ6

Statement of Stockholders' Equity Statement of Stockholders' Equity (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Payment of public offering costs	$ 0
MLV & Co. LLC
Payment of public offering costs	94
Amended and Restated Certificate of Incorporation
Payment of public offering costs	$ 964

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net loss	$ (16,899)	$ (11,538)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities
Depreciation and amortization	8	2
Loss on disposal of fixed assets	2	0
Change in fair value of preferred stock warrants	0	140
Non-cash interest expense	149	78
Accretion of premium on investment activities	36	41
Accrued interest receivable	49	1
Stock-based compensation expense	915	727
Changes in operating assets and liabilities
Prepaid expenses and other assets	(684)	(499)
Accounts payable, accrued and other liabilities	691	2,136
Net cash and cash equivalents used in operating activities	(15,733)	(8,912)
Investing activities
Change in restricted cash	(25)	0
Purchases of investments	10,335	21,994
Sales of short-term investments	23,303	3,333
Property and equipment purchases	(16)	(6)
Net cash and cash equivalents provided by (used in) investing activities	12,927	(18,667)
Financing activities
Deferred offering costs	0	(3,737)
Proceeds from issuance of common stock and warrants	8,078	37,200
Net cash and cash equivalents provided by financing activities	8,078	33,463
Net increase in cash and cash equivalents	5,272	5,884
Cash and cash equivalents at beginning of period	13,978	2,132
Cash and cash equivalents at end of period	19,250	8,016
Supplemental disclosure of noncash investing and financing activities
Unrealized gain (loss) on investments	7	(13)
Conversion of convertible notes payable, accrued interest, preferred stock and warrants into common stock	$ 0	$ 15,793

The Company

The Company	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	Description of Business Description of Business NephroGenex, Inc. (the “Company”) was incorporated in Delaware on May 25, 2004. The Company is a drug development company focused on developing novel therapies for kidney disease. The Company acquired commercial rights to Pyridorin™ and has initiated a Phase 3 clinical study in patients with diabetic nephropathy. The Company’s primary efforts to date have been devoted to raising capital, recruiting senior management and staff and conducting research and development activities. The Company has experienced net losses since its inception and, as of September 30, 2015, had an accumulated deficit of $74.7 million . The Company currently has no commercially approved products and has recognized no revenue since its inception in 2004. The Company does not expect to generate revenue from product sales unless and until it successfully completes development and obtain marketing approval for one or more of its product candidates, which the Company expects will take a number of years and is subject to significant uncertainty. Developing and commercializing a product requires significant time and capital and is subject to regulatory review and approval. There can be no assurance that the Company’s current products in development, if approved, will be successfully commercialized due to a variety of factors, including competition from other biotechnology and pharmaceutical companies. Going Concern The Company's financial statements have been prepared on a basis which assumes that the Company will continue as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has incurred losses since its inception, expects to incur additional costs and requires additional capital to continue as a going concern. As a result, the Company will require additional funds and will continue to seek private or public equity, debt financing, research funding and revenue or expense sharing from collaborative agreements to meet its capital requirements. Even if the Company does not have an immediate need for additional cash, it may seek access to the private or public equity markets if and when conditions are favorable. If such funds are not available, management may need to reassess its business plans. There is no assurance that such additional funds will be available for the Company to finance its operations on acceptable terms, if at all.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Unaudited Interim Financial Information The accompanying interim financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The year-end balance sheet was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Reverse Stock Split On February 6, 2014, the Company effected a 1-for-6.5 reverse stock split of its issued and outstanding shares of common stock and a proportional adjustment to the conversion ratio for the Company’s outstanding Series A Preferred Stock. All share and per share amounts for the nine month period ended September 30, 2014 and notes thereto have been adjusted retroactively, where applicable, to reflect the reverse stock split and adjustment of the preferred share conversion ratios. Initial Public Offering On February 14, 2014, the Company completed its initial public offering of common stock (the “IPO”) pursuant to a registration statement that was declared effective on February 10, 2014. The Company sold 3,100,000 shares of its common stock, at a price of $ 12.00 . The Company raised a total of $33.4 million in net proceeds after deducting underwriting discounts and commissions and offering expenses of approximately $ 3.8 million . Costs directly associated with the IPO were capitalized and recorded as deferred IPO costs prior to the closing of the IPO. These costs were recorded as a reduction of the proceeds received in arriving at the amount to be recorded as additional paid-in capital. Upon completion of the IPO, 3,644,354 shares of common stock were issued for the conversion of all outstanding shares of Series A Preferred stock, 1,197,289 shares of common stock were issued for the conversion of outstanding convertible notes and accrued interest and 593,589 aggregate shares of common stock were issued in connection with the settlement of the Company’s outstanding preferred stock warrant liability. Warrant Liability Certain warrants to purchase the Company’s capital stock had historically been classified as liabilities and were recorded at estimated fair value. At each reporting period, any change in fair value of the freestanding warrants was recorded as other (expense) income. The preferred stock warrant liability was settled upon the closing of the IPO. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Restricted Cash Restricted cash consists of deposits held by a financial institution as collateral for the Company's corporate credit card. Investments The Company invests in money market funds and certificates of deposits and considers all investments purchased with original maturity dates greater than three months and less than one year to be short-term investments. Those investments with original maturity dates greater than one year are considered to be long-term investments. As of September 30, 2015, all investments were classified as available-for-sale and had original maturity dates less than one year. These investments are carried at estimated fair value with unrealized gains and losses included in stockholders' equity. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in interest income. Concentration of Credit Risk The Company invests its available cash balances in bank deposits, money market funds and certificates of deposit. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Additionally, the Company has established guidelines regarding approved investments and maturities of investments, which are designed to maintain safety and liquidity. Property and Equipment Property and equipment consists of furniture, fixtures and computers. Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the respective asset’s estimated useful life. Maintenance and repairs that do not improve or extend the life of assets are expensed as incurred. When an asset is retired or disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected within the statement of operations. Fair Value of Financial Instruments As of September 30, 2015, financial instruments consist of cash and cash equivalents, short-term investments, a note payable and accounts payable. The Company defines fair value (“FV”) as the price that would be received to sell an asset or paid to transfer a liability ("the exit price") in an orderly transaction between market participants at the measurement date. The FV hierarchy for inputs maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The Company uses the following hierarchy of inputs to measure FV: • Level 1: Quoted prices in active markets for identical assets or liabilities; • Level 2: Inputs, other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3: Unobservable inputs that are supported by little or no market activity, which require the reporting entity to develop its own assumptions. The Company values investments using the most observable inputs available that are current as of the measurement date and classifies them according to the lowest level of inputs used. Observable inputs are inputs that market participants would use in pricing the asset or liability developed from market data obtained from independent sources. Unobservable inputs are those which reflect the Company’s judgment concerning the assumptions that market participants would use in pricing the asset or liability developed from the best information available under the circumstances. The Company targets investments principally in Level 1 and Level 2 cash equivalents and financial instruments and records them at FV. The Company did not rely on Level 3 inputs for the valuation of any investments at September 30, 2015 or December 31, 2014. The Company expects that the carrying values of cash equivalents will approximate FV because of their short maturities. The Company classifies as Level 2 investments in certificates of deposits and values them using the market approach based on significant other observable inputs including quoted prices in active markets for instruments that are similar or quoted prices in markets that are not traded on a daily basis for identical or similar instruments. The following table sets forth our financial instruments carried at FV within the ASC 820 hierarchy and using the lowest level of input as of September 30, 2015: Quoted Prices in Active Significant (in thousands) Markets Other Significant Balance For Identical Assets Observable Inputs Unobservable Inputs Assets: September 30, 2015 Level 1 Level 2 Level 3 Certificates of Deposit $ 8,185 $ — $ 8,185 $ — $ 8,185 $ — $ 8,185 $ — The following table sets forth our financial instruments carried at FV within the ASC 820 hierarchy and using the lowest level of input as of December 31, 2014: Quoted Prices in Active Significant (in thousands) Markets Other Significant Balance For Identical Assets Observable Inputs Unobservable Inputs Assets: December 31, 2014 Level 1 Level 2 Level 3 Certificates of Deposit $ 16,765 $ — $ 16,765 $ — $ 16,765 $ — $ 16,765 $ — Research and Development Costs Research and development costs are expensed as incurred. Research and development expenses include personnel costs associated with research and development activities including non-cash share-based compensation, costs for third-party contractors to perform research, conduct clinical trials and manufacture drug supplies and materials. The Company accrues for costs incurred by external service providers, including contract research organizations and clinical investigators, based on its estimates of service performed and costs incurred. These estimates include the level of services performed by the third parties, patient enrollment in clinical trials, administrative costs incurred by the third parties, and other indicators of the services completed. Based on the timing of amounts invoiced by service providers, the Company may also record payments made to those providers as prepaid expenses that will be recognized as expense in future periods as the related services are rendered. Stock-Based Compensation The Company estimates the FV of stock options and stock purchase rights using a Black-Scholes option valuation model which requires the input of highly subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. The Company uses the simplified method for estimating the expected term as provided by the Securities and Exchange Commission's Staff Accounting Bulletin No. 107. The simplified method calculates the expected term as the average time-to-vesting and the contractual life of the options. The expected stock price volatility assumption was determined by examining the historical volatilities of a group of industry peers. The FV of each option grant is estimated on the date of grant using the Black-Scholes option valuation model, and the resulting FV is expensed using the straight-line attribution method over the vesting period, which is the same as the requisite service period. Restricted stock units are measured at the FV of the Company's common stock on the date of grant and expensed over the period of vesting, which is the same as the requisite service period using the straight-line attribution method. The Company has also granted stock options to nonemployees. Grants to non employees are accounted for in accordance with Accounting Standards Codification ("ASC") 505-50 Equity – Based Payments to Non-Employees. The Company determines the fair value of share based awards granted to nonemployees similar to the way fair value of awards are determined for employees except that certain assumptions used in the Black-Scholes option-pricing model, such as expected life of the option, may be different and the fair value of each award is adjusted at the end of each period for any change in fair value from the previous valuation until the award vests. Recent Accounting Pronouncements Occasionally, new accounting standards are issued or proposed by the Financial Accounting Standards Board (the “FASB”), or other standards-setting bodies that the Company adopts by the effective date specified within the standard. Unless otherwise discussed, standards that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption. I n August 2014, FASB issued Accounting Standards Update (“ASU”) No. 2014-15, “ Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 is intended to define 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. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The new standard will be effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. Management is currently evaluating the impact of the adoption of ASU 2014-14 on the Company's financial statements and disclosures. In April 2015, the FASB issued ASU No. 2015-03, " Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs" . The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The new standard will be effective for reporting periods beginning after December 15, 2015, with early adoption permitted. The amendments should be applied on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The Company does not expect ASU No. 2015-03 to have a material impact on the Company's financial statements upon adoption.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic net loss per share is calculated by dividing the net loss by the weighted average number of shares of the Company’s common stock outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common share equivalents outstanding for the period determined using the treasury-stock method. Under the treasury-stock method earnings per share data is computed as if the common share equivalents were outstanding at the beginning of the period (or at the time of issuance, if later) and as if the funds obtained from exercise of the common stock equivalents were used to purchase common stock at the average market price during the period. If there is little or no market for the common stock, a reasonable estimate of FV shall be used. For purposes of this calculation, preferred stock, stock options, restricted stock units and warrants to purchase capital stock are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following table sets forth the computation of basic and diluted net loss per share in thousands, except share and per share data: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Historical Numerator: Net loss $ (5,347 ) $ (4,415 ) $ (16,899 ) $ (11,538 ) Denominator: Weighted average common shares outstanding 10,165,618 8,855,114 9,302,550 7,448,208 Net loss per share- basic and diluted $ (0.53 ) $ (0.50 ) $ (1.82 ) $ (1.55 ) Potentially dilutive securities not included in the calculation of diluted net loss per common share because to do so would be anti-dilutive are as follows (in common equivalent shares on a weighted-average basis): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Common stock options 1,424,329 874,278 1,359,899 792,316 Restricted stock units 13,250 24,000 14,750 24,000 Common stock warrants 1,449,853 62,000 567,229 51,780 In addition to the potentially dilutive securities noted above, the Company has excluded from the table above 3,644,354 shares of common stock that were issued for the conversion of all outstanding shares of Series A Preferred stock, 1,197,289 shares of common stock that were issued for convertible notes and accrued interest and 593,589 aggregate shares of common stock that were issued in connection with the settlement of the Company’s outstanding warrant obligations upon closing of the IPO.

Balance Sheet Items

Balance Sheet Items	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Items	Balance Sheet Items Investments The following table summarizes the Company's available-for-sale investments as of September 30, 2015 (in thousands): Maturity Amortized Unrealized Unrealized Estimated Short-term Investments (in years) Cost Gains Loss Fair Value Certificates of Deposit 1 or less 1,653 — (1 ) 1,652 Total Investments $ 1,653 $ — $ (1 ) $ 1,652 The following table summarizes the Company's available-for-sale investments as of December 31, 2014 (in thousands): Maturity Amortized Unrealized Unrealized Estimated Short-term Investments (in years) Cost Gains Loss Fair Value Certificates of Deposit 1 or less 14,706 — (8 ) 14,698 Total Investments $ 14,706 $ — $ (8 ) $ 14,698 At each reporting date, the Company performs an evaluation of impairment to determine if the unrealized losses are other-than-temporary. For debt securities, management determines whether it intends to sell the impaired securities, and if there is no intent or expected requirement to sell, management considers whether it is likely that the amortized cost will be recovered. The Company does not consider unrealized losses on its debt investment securities to be credit-related. These unrealized losses relate to changes in interest rates and market spreads subsequent to purchase. The Company has not made a decision to sell securities with unrealized losses and believes it is more likely than not it would not be required to sell such securities before recovery of its amortized cost. There have been no other than temporary losses recognized in earnings. Accrued Liabilities Accrued liabilities were as follows (in thousands): September 30, December 31, 2015 2014 Accrued clinical trial expenses $ 888 $ 393 Accrued compensation 630 909 Other accruals 36 103 Total $ 1,554 $ 1,405

License Agreements

License Agreements	9 Months Ended
	Sep. 30, 2015
License Agreements [Abstract]
License Agreements	License Agreements The University of South Carolina Research Foundation, Corp. During 2007, the Company licensed certain technology from the University of South Carolina Research Foundation, Corp. (“USCRF”) to the Company. The license gives the Company worldwide rights to use the technology as defined in the agreement. The agreement was amended in August 2013. The Company is obligated to pay an annual licensing fee of $120,000 . Upon the achievement of certain defined product development milestones for diabetic neuropathy or hyperlipidemia, the Company would be obligated to make up to $6.1 million of payments to USCRF. The Company will be obligated to pay USCRF a one-time fee of $35,000 upon execution of a sublicense and would pay to USCRF 25% of any non-royalty sublicense payments received from a sub-licensee. The term of the agreement expires on the expiration of the underlying USCRF patents. The Company can terminate the license at any time upon three months prior written notice to USCRF. As of September 30, 2015, no development milestones have been paid or accrued nor does the Company expect to achieve any development milestones during the next few years. The Company paid $30,000 and $90,000 for each of the three month and nine month periods ended September 30, 2015 and 2014, respectively, for licensing fees due under this agreement. Vanderbilt University During 2006, the Company entered into a licensing agreement with Vanderbilt University (“Vanderbilt”) for the rights to use certain technology. The agreement, as amended, requires the Company to make milestone payments totaling approximately $1.1 million in the event certain defined events occur. Should the Company successfully develop a product for AKI (or other indications that the Company is not currently pursuing) using the licensed technology, Vanderbilt will be due royalties based on net sales at a rate of 5% . The Company must also pay Vanderbilt 25% of non‑royalty sub‑licensee payments received from a sub‑licensee. Annual minimum royalties due under the licensing agreement are $10,000 and will increase to $25,000 when a claim in the licensed patent rights is issued in a major market country, as defined. The licensing agreement expires when the underlying patents to the licensed technology expire. The Company may terminate the agreement upon sixty days written notice to Vanderbilt. Certain milestones can be paid in stock or are creditable against future royalties due based on net sales. As of September 30, 2015, no milestone or royalty payments have been paid or accrued.

Convertible Notes Payable

Convertible Notes Payable	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Convertible Notes Payable	Convertible Notes Payable On February 14, 2014, in connection with the closing of the Company’s IPO, $7.9 million of convertible promissory notes and $728,000 of accrued interest were converted into 1,197,289 shares of common stock. Interest expense for the nine months ended September 30, 2015 and 2014 relating to the notes was approximately $0 and $78,000 , respectively. Term Loan On November 20, 2014, the Company entered into a Loan and Security Agreement (the "Loan Agreement") with East West Bank ("East West") for a term loan (the “Initial Term Loan”) with an aggregate principal amount of $7.0 million and, subject to the terms and conditions set forth in the agreement, a second term loan (the “Second Term Loan”) with an aggregate principal amount of $5.0 million . Each term loan shall accrue interest at a rate of 2.25% per annum plus the greater of 3.25% or the current prime rate. As of September 30, 2015, the interest rate on the loan was 5.5% . As security for its obligations under the Loan Agreement, the Company granted East West a lien on substantially all of its assets, including owned and licensed intellectual property. The Loan Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among others, covenants that limit or restrict the Company's ability to incur indebtedness, grant liens, merge or consolidate, dispose of assets, make investments, make acquisitions, enter into certain transactions with affiliates, pay dividends or make distributions, or repurchase stock, in each case subject to customary exceptions for a loan facility of this size and type. In addition, the Loan Agreement contains customary events of default that entitle East West to cause any or all of the Company's indebtedness under the Loan Agreement to become immediately due and payable. The events of default include, among others, non-payment, inaccuracy of representations and warranties, covenant defaults, the occurrence of a material adverse effect (as defined in the Loan Agreement), cross-default to material agreements, cross-default to material indebtedness, bankruptcy and insolvency, material judgment defaults, discontinuation of the Phase 3 Pyridorin trial and defaults related to certain actions taken against the Company by the Food and Drug Administration or other equivalent governmental authority. On November 20, 2014, East West funded the Initial Term Loan, which matures on October 1, 2018. Interest only payments are due during the first twelve months of the Initial Term Loan (the “Interest Only Term”) and beginning on November 1, 2015, the Company is required to make thirty-six ( 36 ) equal monthly payments of principal and interest. The Interest Only Term may be extended under the Loan Agreement if certain conditions are met. The Company paid a $120,000 facility fee which was recorded as a debt discount to be amortized as interest expense over the term of the loan using the effective interest rate method. At the Company’s option, the Company had the ability to borrow the Second Term Loan on or before May 29, 2015, if the Company had met certain clinical milestones. The Company did not meet the clinical milestones for the Second Term Loan. However, the Company is discussing with East West amending the clinical milestones necessary for incurrence of the Second Term Loan. The Company may prepay each term loan in full with no prepayment penalty. Upon payment of the final monthly installment of the loan, or the remaining balance in the case of a prepayment, the Company would pay an end-of-term fee of approximately $60,000 . In connection with the Initial Term Loan, the Company issued warrants to purchase an aggregate of 56,603 shares of the Company's common stock at an exercise price of $4.24 per share. The warrants are immediately exercisable and will expire on November 20, 2021. The Company determined the fair value of the warrants to be $ 192,450 using the Black-Scholes pricing model and recorded the warrants as a debt discount to be amortized as interest expense over the term of the Initial Term Loan using the effective interest rate method. The Company also paid $50,000 in debt issuance costs, which were capitalized as a deferred asset and are being amortized over the expected remaining life of the loan using the effective interest method. The Company recognized $142,000 and $426,000 in interest expense related to the term loan for the three and nine month periods ended September 30, 2015, respectively.

Term Loan Term Loan

Term Loan Term Loan	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Term Loan	Convertible Notes Payable On February 14, 2014, in connection with the closing of the Company’s IPO, $7.9 million of convertible promissory notes and $728,000 of accrued interest were converted into 1,197,289 shares of common stock. Interest expense for the nine months ended September 30, 2015 and 2014 relating to the notes was approximately $0 and $78,000 , respectively. Term Loan On November 20, 2014, the Company entered into a Loan and Security Agreement (the "Loan Agreement") with East West Bank ("East West") for a term loan (the “Initial Term Loan”) with an aggregate principal amount of $7.0 million and, subject to the terms and conditions set forth in the agreement, a second term loan (the “Second Term Loan”) with an aggregate principal amount of $5.0 million . Each term loan shall accrue interest at a rate of 2.25% per annum plus the greater of 3.25% or the current prime rate. As of September 30, 2015, the interest rate on the loan was 5.5% . As security for its obligations under the Loan Agreement, the Company granted East West a lien on substantially all of its assets, including owned and licensed intellectual property. The Loan Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among others, covenants that limit or restrict the Company's ability to incur indebtedness, grant liens, merge or consolidate, dispose of assets, make investments, make acquisitions, enter into certain transactions with affiliates, pay dividends or make distributions, or repurchase stock, in each case subject to customary exceptions for a loan facility of this size and type. In addition, the Loan Agreement contains customary events of default that entitle East West to cause any or all of the Company's indebtedness under the Loan Agreement to become immediately due and payable. The events of default include, among others, non-payment, inaccuracy of representations and warranties, covenant defaults, the occurrence of a material adverse effect (as defined in the Loan Agreement), cross-default to material agreements, cross-default to material indebtedness, bankruptcy and insolvency, material judgment defaults, discontinuation of the Phase 3 Pyridorin trial and defaults related to certain actions taken against the Company by the Food and Drug Administration or other equivalent governmental authority. On November 20, 2014, East West funded the Initial Term Loan, which matures on October 1, 2018. Interest only payments are due during the first twelve months of the Initial Term Loan (the “Interest Only Term”) and beginning on November 1, 2015, the Company is required to make thirty-six ( 36 ) equal monthly payments of principal and interest. The Interest Only Term may be extended under the Loan Agreement if certain conditions are met. The Company paid a $120,000 facility fee which was recorded as a debt discount to be amortized as interest expense over the term of the loan using the effective interest rate method. At the Company’s option, the Company had the ability to borrow the Second Term Loan on or before May 29, 2015, if the Company had met certain clinical milestones. The Company did not meet the clinical milestones for the Second Term Loan. However, the Company is discussing with East West amending the clinical milestones necessary for incurrence of the Second Term Loan. The Company may prepay each term loan in full with no prepayment penalty. Upon payment of the final monthly installment of the loan, or the remaining balance in the case of a prepayment, the Company would pay an end-of-term fee of approximately $60,000 . In connection with the Initial Term Loan, the Company issued warrants to purchase an aggregate of 56,603 shares of the Company's common stock at an exercise price of $4.24 per share. The warrants are immediately exercisable and will expire on November 20, 2021. The Company determined the fair value of the warrants to be $ 192,450 using the Black-Scholes pricing model and recorded the warrants as a debt discount to be amortized as interest expense over the term of the Initial Term Loan using the effective interest rate method. The Company also paid $50,000 in debt issuance costs, which were capitalized as a deferred asset and are being amortized over the expected remaining life of the loan using the effective interest method. The Company recognized $142,000 and $426,000 in interest expense related to the term loan for the three and nine month periods ended September 30, 2015, respectively.

Stockholders' equity (deficit)

Stockholders' equity (deficit)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' equity (deficit)	Stockholders' equity Series A Preferred Stock In connection with the completion of the IPO, 3,644,354 shares of common stock were issued for the conversion of all outstanding shares of the Company’s Series A Preferred stock. Warrants On January 16, 2014, an agreement was reached among the Company’s significant shareholders to cancel warrants held by its majority shareholder, Care Capital Investments III, LP, together with its affiliates (collectively, Care Capital), and by funds affiliated with Rho Venture Partners (Rho). Pursuant to this agreement, an aggregate of 593,589 shares of the Company’s common stock were issued to Care Capital and Rho concurrently with the completion of the Company’s IPO in return for cancelling the warrants. In connection with the cancellation of the warrants, the Company settled the preferred stock warrant liability on its balance sheet. On February 10, 2014, the Company, in connection with the IPO, issued to employees of the underwriter warrants to purchase up to 62,000 shares of common stock. The warrants are exercisable at any time commencing one year from the effective date of the Company’s IPO. The warrants are exercisable at a price of $15.00 per share and expire on February 10, 2018. On November 20, 2014, the Company, in connection with the issuance of a term loan, issued warrants to East West to purchase up to an aggregate of 56,603 shares of the Company's common stock at an exercise price of $4.24 per share. The warrants are immediately exercisable and will expire on November 20, 2021. On July 22, 2015, the Company, in connection with the sale of common stock, issued warrants to purchase 1,725,000 shares of the Company's common stock at an exercise price of $6.25 per share. The warrants are immediately exercisable and expire on July 22, 2020. As of September 30, 2015, the following warrants to purchase common stock were outstanding: Exercise Issuance Date Shares Price Expiration 2/10/2014 62,000 $ 15.00 2/10/2018 11/20/2014 56,603 $ 4.24 11/20/2021 7/22/2015 1,725,000 $ 6.25 7/22/2020 Total warrants outstanding 1,843,603 Common Stock On February 14, 2014, the Company filed an Amended and Restated Certificate of Incorporation which authorizes the issuance of 100,000,000 shares of common stock, and 5,000,000 shares of undesignated preferred stock. On July 22, 2015, the Company completed a public offering of common stock and sold 1,500,000 shares of common stock and warrants to purchase common stock at a price of $5.00 per share and accompanying warrant for total gross proceeds of $7.5 million . Concurrent with closing of the offering, the underwriters exercised their option to purchase 225,000 warrants for $0.01 per share for total gross proceeds to the Company of $2,250 . On July 31, 2015, the underwriters partially exercised their over-allotment to purchase 112,500 shares of common stock at $4.99 per share for total gross proceeds of $561,375 . Total net proceeds from the public offering were approximately $7.1 million after deducting underwriting discounts, commissions and offering expenses of approximately $1.0 million . During the nine month period ended September 30, 2015, the Company issued 4,500 shares of common stock to its chief executive officer for restricted stock units that vested during the period. At Market Issuance Sales Agreement On August 7, 2015, the Company entered into an At Market Issuance Sales Agreement (the “Agreement”), with MLV & Co. LLC, as sales agent (“MLV”), pursuant to which the Company may offer and sell, from time to time, through MLV, shares of the Company’s common stock, (the “ATM Shares”), up to an aggregate offering price of $18.0 million. The Company intends to use the net proceeds received from any issuance of ATM shares under the Agreement for working capital and general corporate purposes. Under the Agreement, MLV may sell the ATM Shares by methods deemed to be an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on the NASDAQ Capital Market, on any other existing trading market for the ATM Shares or to or through a market maker. In addition, under the Agreement, MLV may sell the Shares by any other method permitted by law, including in privately negotiated transactions. Subject to the terms and conditions of the Agreement, MLV will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of the NASDAQ Capital Market, to sell the ATM Shares from time to time, based upon the Company's instructions (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company is not obligated to make any sales of the ATM Shares under the Agreement. The offering of ATM Shares pursuant to the Agreement will terminate upon the earlier of (1) the sale of all of the ATM Shares subject to the Agreement or (2) the termination of the Agreement by MLV or the Company. The Company will pay MLV a commission of up to 3.0% of the gross sales price per ATM Share sold and has agreed to provide MLV with customary indemnification and contribution rights. As of September 30, 2015, the Company had sold 263,273 ATM Shares of common stock at an average sales price of $4.07 per ATM Share for total net proceeds of approximately $1.0 million after deducting discounts and commissions and estimated offering expenses of approximately $94,000 . Shares Reserved for Future Issuance The Company has reserved shares of its common stock for future issuance as follows: September 30, 2015 Stock options outstanding 1,442,500 Shares available for grant under stock option plans 1,030,250 Restricted stock units 12,500 Common stock warrants 1,843,603 Total shares reserved for future issuance 4,328,853 Stock-Based Compensation In 2005, the Company adopted the NephroGenex, Inc. 2005 Stock Option Plan. On May 15, 2014, the 2005 Stock Option Plan, was amended and restated to the 2007 Equity Incentive Plan (the “Plan”). The amendment authorized an increase of 673,923 shares and provided for the granting of up to 1,283,226 shares of common stock to employees and consultants of the Company in the form of incentive and nonqualified stock options and shares of restricted stock. On March 24, 2015, the Company’s Board of Directors adopted, and stockholders subsequently approved, an amendment to the Company's Amended and Restated 2007 Equity Incentive Plan, as amended (the “Stock Plan”) to increase the number of shares authorized for issuance of awards under the Stock Plan from 1,283,226 to an aggregate of 2,483,226 shares of common stock. As of September 30, 2015, there were 1,030,250 shares available for issuance under the Plan. The table below summarizes stock option activity for the nine month period ended September 30, 2015: Number of Shares Weighted Average Exercise Price Outstanding as of December 31, 2014 1,272,581 $ 4.19 Granted 317,550 6.08 Exercised — — Expired (4,865 ) 15.20 Forfeited (142,766 ) 5.76 Outstanding as of September 30, 2015 1,442,500 4.46 Exercisable 688,969 $ 2.88 The weighted-average assumptions used in the Black-Scholes valuation model for equity awards granted during the three and nine month periods ended September 30, 2015 and 2014 are shown in the table below. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Expected volatility 95.94 % 93.94 % 96.72 % 83.9 % Expected dividends — — — — Expected life in years 5.8 6.3 5.9 6.8 Risk-free interest rate 1.70 % 2.04 % 1.70 % 2.11 % The Company determines the options’ life based upon the use of the simplified method. As a newly public company, sufficient history to estimate the volatility and dividend yield of the Company's common stock is not available. The Company uses a pool of comparable companies as a basis for the expected volatility assumption and dividend yield. The Company intends to continue to consistently apply this process using the comparable companies until sufficient amount of historical information becomes available. The risk-free interest rate is based upon the yield of an applicable Treasury instrument. In November 2013, the Company issued 24,000 Restricted Stock Units (RSU) to its CEO in connection with his employment agreement. The RSU represent the right to receive shares of common stock, subject to the terms and conditions of a restricted stock unit agreement and grant notice and were not issued under the Plan. The RSU’s are subject to time-based vesting with 25% of the RSU’s vesting on October 21, 2014 and the remaining 75% vesting in equal monthly installments on the first day of each calendar month beginning on November 1, 2014. During the nine month period ended September 30, 2015, the Company issued 4,500 shares of common stock for RSUs that vested during the period. In accounting for stock options to non-employees, the fair value of services related to the options granted are generally recorded as an expense as these services are provided to the Company over the relating service periods. The Company re-measures any unvested, non-employee options to fair value at the end of each reporting period using the Black-Scholes pricing model. The Company recognized non-cash share-based compensation expense in its research and development and general and administrative expenses as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Research and development $ 51 $ 40 $ 183 $ 77 General and administrative 281 147 732 650 Total $ 332 $ 187 $ 915 $ 727

Commitments

Commitments	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments Lease On September 12, 2014, the Company entered into an agreement to lease office space at 3200 Beechleaf Court, Raleigh, North Carolina for the period from December 1, 2014 through May 31, 2020. These premises serve as the Company's corporate headquarters. The lease provides for abatement of rent during certain periods and escalating rent payments during the lease term. The Company records rent expense on a straight-line basis over the life of the lease. Rent expense was approximately $30,000 and $85,000 for each of the three and nine month periods ended September 30, 2015, respectively, and approximately $13,000 and $39,000 for each of the three and nine month periods ended September 30, 2014, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Prior to June 30, 2014, the Company reimbursed Care Capital, LLC (“Care”), an affiliate of the majority shareholder of the Company, for services of a Care employee and reimbursed Care for such personnel services incurred by Care on behalf of the Company. Total expense recognized in operating results for the three and nine month periods ended September 30, 2014 in connection with services provided by Care was $0 and $70,000 , respectively.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event - Issuance of Common Stock From September 30, 2015 to November 10, 2015, the Company sold under the ATM sales agreement with MLV, 45,268 shares of common stock at an average gross sales price of $3.05 per share for total net proceed of approximately $133,000 after deducting commissions and other fees of approximately $5,000 . On November 6, 2015, the Company sold 2,156,863 shares of common stock pursuant to a securities purchase agreement to certain institutional investors at a purchase price of $2.55 per share for total gross proceeds of approximately $5.5 million . Pursuant to the securities purchase agreement, the Company issued the following warrants to purchase common stock: Description Warrants Exercise Price Date Exercisable Expiration Term Series A Warrants 1,617,647 $3.56 May 6, 2016 November 6, 2021 5 years Series B Warrants 2,156,863 $3.56 May 6, 2016 November 7, 2016 12 months + 1 day Series C Warrants 2,156,863 $3.56 May 6, 2016 May 6, 2017 18 months Series D Warrants 2,156,863 $3.56 May 6, 2016 July 6, 2016 8 months Total 8,088,236 The warrants contain limitations that prevent the holder from acquiring shares upon exercise of a warrant that would result in the number of shares beneficially owned by it and its affiliates exceeding 4.99% , or 9.99% upon notice to the Company, of the total number of shares of the Company’s common stock then issued and outstanding (which limit may be adjusted upon the request of the holder). In connection with the transactions described above, the Company also entered into a registration rights agreement with the investors pursuant to which the Company agreed to register the shares of common stock acquired from the Company (including upon any exercise of the warrants). The Company is required to file a registration statement for the resale of such securities within 30 days following the closing date and to use its commercially reasonable efforts to cause each such registration statement to be declared effective no later than 90 days following the closing date (or 120 days following closing date, if the Securities and Exchange Commission determines to review the registration statement). The Company may incur liquidated damages if it does not meet certain deadlines with respect to its registration obligations under the agreement or if certain other events occur. The Company also agreed to other customary obligations regarding registration, including indemnification and maintenance of the effectiveness of the registration statement. In addition, the Company issued warrants to purchase up to an aggregate of 107,843 share of common stock with the same terms as the Series A Warrants to H.C. Wainwright & Co., LLC and its representatives, as placement agent for the transaction.

Significant Accounting Polici19

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying interim financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The year-end balance sheet was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Warranty Liability	Warrant Liability Certain warrants to purchase the Company’s capital stock had historically been classified as liabilities and were recorded at estimated fair value. At each reporting period, any change in fair value of the freestanding warrants was recorded as other (expense) income. The preferred stock warrant liability was settled upon the closing of the IPO.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents.
Investments	Investments The Company invests in money market funds and certificates of deposits and considers all investments purchased with original maturity dates greater than three months and less than one year to be short-term investments. Those investments with original maturity dates greater than one year are considered to be long-term investments. As of September 30, 2015, all investments were classified as available-for-sale and had original maturity dates less than one year. These investments are carried at estimated fair value with unrealized gains and losses included in stockholders' equity. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in interest income.
Concentration of Credit Risk	Concentration of Credit Risk The Company invests its available cash balances in bank deposits, money market funds and certificates of deposit. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Additionally, the Company has established guidelines regarding approved investments and maturities of investments, which are designed to maintain safety and liquidity.
Property and Equipment	Property and Equipment Property and equipment consists of furniture, fixtures and computers. Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the respective asset’s estimated useful life. Maintenance and repairs that do not improve or extend the life of assets are expensed as incurred. When an asset is retired or disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected within the statement of operations.
Fair value of Financial Instruments	Fair Value of Financial Instruments As of September 30, 2015, financial instruments consist of cash and cash equivalents, short-term investments, a note payable and accounts payable. The Company defines fair value (“FV”) as the price that would be received to sell an asset or paid to transfer a liability ("the exit price") in an orderly transaction between market participants at the measurement date. The FV hierarchy for inputs maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The Company uses the following hierarchy of inputs to measure FV: • Level 1: Quoted prices in active markets for identical assets or liabilities; • Level 2: Inputs, other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3: Unobservable inputs that are supported by little or no market activity, which require the reporting entity to develop its own assumptions. The Company values investments using the most observable inputs available that are current as of the measurement date and classifies them according to the lowest level of inputs used. Observable inputs are inputs that market participants would use in pricing the asset or liability developed from market data obtained from independent sources. Unobservable inputs are those which reflect the Company’s judgment concerning the assumptions that market participants would use in pricing the asset or liability developed from the best information available under the circumstances.
Research and Development Costs	Research and Development Costs Research and development costs are expensed as incurred. Research and development expenses include personnel costs associated with research and development activities including non-cash share-based compensation, costs for third-party contractors to perform research, conduct clinical trials and manufacture drug supplies and materials. The Company accrues for costs incurred by external service providers, including contract research organizations and clinical investigators, based on its estimates of service performed and costs incurred. These estimates include the level of services performed by the third parties, patient enrollment in clinical trials, administrative costs incurred by the third parties, and other indicators of the services completed. Based on the timing of amounts invoiced by service providers, the Company may also record payments made to those providers as prepaid expenses that will be recognized as expense in future periods as the related services are rendered.
Stock-Based Compensation	Stock-Based Compensation The Company estimates the FV of stock options and stock purchase rights using a Black-Scholes option valuation model which requires the input of highly subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. The Company uses the simplified method for estimating the expected term as provided by the Securities and Exchange Commission's Staff Accounting Bulletin No. 107. The simplified method calculates the expected term as the average time-to-vesting and the contractual life of the options. The expected stock price volatility assumption was determined by examining the historical volatilities of a group of industry peers. The FV of each option grant is estimated on the date of grant using the Black-Scholes option valuation model, and the resulting FV is expensed using the straight-line attribution method over the vesting period, which is the same as the requisite service period. Restricted stock units are measured at the FV of the Company's common stock on the date of grant and expensed over the period of vesting, which is the same as the requisite service period using the straight-line attribution method. The Company has also granted stock options to nonemployees. Grants to non employees are accounted for in accordance with Accounting Standards Codification ("ASC") 505-50 Equity – Based Payments to Non-Employees. The Company determines the fair value of share based awards granted to nonemployees similar to the way fair value of awards are determined for employees except that certain assumptions used in the Black-Scholes option-pricing model, such as expected life of the option, may be different and the fair value of each award is adjusted at the end of each period for any change in fair value from the previous valuation until the award vests.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Occasionally, new accounting standards are issued or proposed by the Financial Accounting Standards Board (the “FASB”), or other standards-setting bodies that the Company adopts by the effective date specified within the standard. Unless otherwise discussed, standards that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption. I n August 2014, FASB issued Accounting Standards Update (“ASU”) No. 2014-15, “ Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 is intended to define 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. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The new standard will be effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. Management is currently evaluating the impact of the adoption of ASU 2014-14 on the Company's financial statements and disclosures. In April 2015, the FASB issued ASU No. 2015-03, " Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs" . The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The new standard will be effective for reporting periods beginning after December 15, 2015, with early adoption permitted. The amendments should be applied on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The Company does not expect ASU No. 2015-03 to have a material impact on the Company's financial statements upon adoption.

Significant Accounting Polici20

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table sets forth our financial instruments carried at FV within the ASC 820 hierarchy and using the lowest level of input as of September 30, 2015: Quoted Prices in Active Significant (in thousands) Markets Other Significant Balance For Identical Assets Observable Inputs Unobservable Inputs Assets: September 30, 2015 Level 1 Level 2 Level 3 Certificates of Deposit $ 8,185 $ — $ 8,185 $ — $ 8,185 $ — $ 8,185 $ — The following table sets forth our financial instruments carried at FV within the ASC 820 hierarchy and using the lowest level of input as of December 31, 2014: Quoted Prices in Active Significant (in thousands) Markets Other Significant Balance For Identical Assets Observable Inputs Unobservable Inputs Assets: December 31, 2014 Level 1 Level 2 Level 3 Certificates of Deposit $ 16,765 $ — $ 16,765 $ — $ 16,765 $ — $ 16,765 $ —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net loss per share in thousands, except share and per share data: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Historical Numerator: Net loss $ (5,347 ) $ (4,415 ) $ (16,899 ) $ (11,538 ) Denominator: Weighted average common shares outstanding 10,165,618 8,855,114 9,302,550 7,448,208 Net loss per share- basic and diluted $ (0.53 ) $ (0.50 ) $ (1.82 ) $ (1.55 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Potentially dilutive securities not included in the calculation of diluted net loss per common share because to do so would be anti-dilutive are as follows (in common equivalent shares on a weighted-average basis): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Common stock options 1,424,329 874,278 1,359,899 792,316 Restricted stock units 13,250 24,000 14,750 24,000 Common stock warrants 1,449,853 62,000 567,229 51,780

Balance Sheet Items (Tables)

Balance Sheet Items (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Available-for-sale Securities	The following table summarizes the Company's available-for-sale investments as of September 30, 2015 (in thousands): Maturity Amortized Unrealized Unrealized Estimated Short-term Investments (in years) Cost Gains Loss Fair Value Certificates of Deposit 1 or less 1,653 — (1 ) 1,652 Total Investments $ 1,653 $ — $ (1 ) $ 1,652 The following table summarizes the Company's available-for-sale investments as of December 31, 2014 (in thousands): Maturity Amortized Unrealized Unrealized Estimated Short-term Investments (in years) Cost Gains Loss Fair Value Certificates of Deposit 1 or less 14,706 — (8 ) 14,698 Total Investments $ 14,706 $ — $ (8 ) $ 14,698
Schedule of Accrued Liabilities	Accrued liabilities were as follows (in thousands): September 30, December 31, 2015 2014 Accrued clinical trial expenses $ 888 $ 393 Accrued compensation 630 909 Other accruals 36 103 Total $ 1,554 $ 1,405

Stockholders' equity (deficit)

Stockholders' equity (deficit) (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Warrants or Rights	As of September 30, 2015, the following warrants to purchase common stock were outstanding: Exercise Issuance Date Shares Price Expiration 2/10/2014 62,000 $ 15.00 2/10/2018 11/20/2014 56,603 $ 4.24 11/20/2021 7/22/2015 1,725,000 $ 6.25 7/22/2020 Total warrants outstanding 1,843,603
Schedule of reserved shares for future issuance	The Company has reserved shares of its common stock for future issuance as follows: September 30, 2015 Stock options outstanding 1,442,500 Shares available for grant under stock option plans 1,030,250 Restricted stock units 12,500 Common stock warrants 1,843,603 Total shares reserved for future issuance 4,328,853
Schedule of stock option activity	The table below summarizes stock option activity for the nine month period ended September 30, 2015: Number of Shares Weighted Average Exercise Price Outstanding as of December 31, 2014 1,272,581 $ 4.19 Granted 317,550 6.08 Exercised — — Expired (4,865 ) 15.20 Forfeited (142,766 ) 5.76 Outstanding as of September 30, 2015 1,442,500 4.46 Exercisable 688,969 $ 2.88
Schedule of stock option valuation assumptions	The weighted-average assumptions used in the Black-Scholes valuation model for equity awards granted during the three and nine month periods ended September 30, 2015 and 2014 are shown in the table below. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Expected volatility 95.94 % 93.94 % 96.72 % 83.9 % Expected dividends — — — — Expected life in years 5.8 6.3 5.9 6.8 Risk-free interest rate 1.70 % 2.04 % 1.70 % 2.11 %
Schedule of share-based compensation	The Company recognized non-cash share-based compensation expense in its research and development and general and administrative expenses as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Research and development $ 51 $ 40 $ 183 $ 77 General and administrative 281 147 732 650 Total $ 332 $ 187 $ 915 $ 727

Subsequent Event (Tables)

Subsequent Event (Tables)	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Schedule of Warrants	Pursuant to the securities purchase agreement, the Company issued the following warrants to purchase common stock: Description Warrants Exercise Price Date Exercisable Expiration Term Series A Warrants 1,617,647 $3.56 May 6, 2016 November 6, 2021 5 years Series B Warrants 2,156,863 $3.56 May 6, 2016 November 7, 2016 12 months + 1 day Series C Warrants 2,156,863 $3.56 May 6, 2016 May 6, 2017 18 months Series D Warrants 2,156,863 $3.56 May 6, 2016 July 6, 2016 8 months Total 8,088,236

The Company (Details)

The Company (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (74,718)	$ (57,819)

Significant Accounting Polici26

Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	Jul. 31, 2015USD ($)	Jul. 22, 2015shares	Feb. 14, 2014USD ($)$ / sharesshares	Feb. 06, 2014	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Class of Stock [Line Items]
Issuance of common stock at IPO (in shares)		1,500,000	3,100,000
Share price | $ / shares			$ 12
Issuance of common stock at IPO | $			$ 33,400		$ 7,099
Payment of public offering costs | $	$ 1,000		$ 3,800		$ 0	$ 3,737
Common Stock
Class of Stock [Line Items]
Stockholders' Equity, Reverse Stock Split				1-for-6.5
Reverse stock split ratio				0.1538
Issuance of common stock for preferred stock (unaudited) (in shares)			3,644,354
Issuance of common stock for convertible notes and accrued interest (unaudited) (in shares)			1,197,289
Issuance of common stock for preferred stock warrant (unaudited) (in shares)			593,589

Significant Accounting Polici27

Significant Accounting Policies Assets Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 8,185	$ 16,765
Certificates of Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	8,185	16,765
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Certificates of Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	8,185	16,765
Fair Value, Inputs, Level 2 | Certificates of Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	8,185	16,765
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Certificates of Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 0	$ 0

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator [Abstract]
Net loss	$ (5,347)	$ (4,415)	$ (16,899)	$ (11,538)
Denominator [Abstract]
Weighted average shares outstanding - basic and diluted (in shares)	10,165,618	8,855,114	9,302,550	7,448,208
Net loss per share - basic and diluted (in dollars per share)	$ (0.53)	$ (0.50)	$ (1.82)	$ (1.55)

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Securities (Details) - shares	Feb. 14, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued for conversion of debt	1,197,289
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issuance of common stock for preferred stock (unaudited) (in shares)	3,644,354
Issuance of common stock for preferred stock warrant (unaudited) (in shares)	593,589
Common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities not included in calculation of diluted net loss per common share		1,424,329	874,278	1,359,899	792,316
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities not included in calculation of diluted net loss per common share		13,250	24,000	14,750	24,000
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities not included in calculation of diluted net loss per common share		1,449,853	62,000	567,229	51,780

Balance Sheet Items - Investmen

Balance Sheet Items - Investments in Equity Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Available-for-sale Securities [Abstract]
Amortized Cost	$ 1,653	$ 14,706
Unrealized Gains	0	0
Unrealized Loss	(1)	(8)
Short-term investments	1,652	14,698
Certificates of Deposit
Available-for-sale Securities [Abstract]
Amortized Cost	1,653	14,706
Unrealized Gains	0	0
Unrealized Loss	(1)	(8)
Short-term investments	$ 1,652	$ 14,698

Balance Sheet Items - Accrued L

Balance Sheet Items - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accrued Liabilities [Abstract]
Accrued clinical trial expenses	$ 888	$ 393
Accrued compensation	630	909
Other accruals	36	103
Total	$ 1,554	$ 1,405

License Agreements (Details)

License Agreements (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2006	Dec. 31, 2007
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
License costs	$ 3,597,000	$ 3,077,000	$ 11,206,000	$ 7,409,000
USCRF
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Annual licensing fee						$ 120,000
Potential milestone payments	$ 6,100,000		6,100,000
Payments upon execution of a sub license			$ 35,000
Percentage of non-royalty based on sub-licensee payments received			25.00%
License costs			$ 30,000	$ 90,000
Vanderbilt
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Potential milestone payments					$ 1,100,000
Percentage of non-royalty based on sub-licensee payments received					25.00%
Royalty payment percentage					5.00%
Annual minimum royalties					$ 10,000
Potential minimum annual royalties					$ 25,000

Convertible Notes Payable (Deta

Convertible Notes Payable (Details) - USD ($) $ in Thousands	Feb. 14, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Convertible promissory notes converted	$ 7,900
Shares issued for conversion of debt	1,197,289
Interest expenses		$ 142	$ 0	$ 426	$ 78
Convertible Debt
Debt Instrument [Line Items]
Convertible promissory notes accrued interest converted	$ 728
Interest expenses				$ 0	$ 78

Term Loan (Details)

Term Loan (Details)	Nov. 20, 2014USD ($)payment$ / sharesshares	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Jul. 22, 2015$ / sharesshares
Debt Instrument [Line Items]
Number of shares of stock to be acquired | shares	56,603			1,725,000
Warrants exercisable price per share (in dollars per share) | $ / shares	$ 4.24			$ 6.25
Warrants not settleable in cash, fair value disclosure	$ 192,450
Secured Debt [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Variable rate floor	3.25%
Interest rate, effective percentage		5.50%	5.50%
Payments of debt issuance costs	$ 50,000
Debt interest expense		$ 142,000	$ 426,000
Secured Debt [Member] | Initial Term Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 7,000,000
Number of monthly payments | payment	36
Debt instrument fee amount	$ 120,000
Periodic payment rerms, balloon payment to be paid	60,000
Secured Debt [Member] | Second Term Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000

Stockholders' equity (deficit35

Stockholders' equity (deficit) - Series A Preferred Stock, Warrants, Common Stock (Details) - USD ($)	Aug. 07, 2015	Jul. 31, 2015	Jul. 22, 2015	Feb. 14, 2014	Nov. 30, 2013	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Nov. 20, 2014
Class of Stock [Line Items]
Number of shares of stock to be acquired			1,725,000						56,603
Warrants exercisable price per share (in dollars per share)			$ 6.25						$ 4.24
Common stock warrants						1,843,603
Common stock, shares authorized				100,000,000		100,000,000		100,000,000
Preferred stock, shares authorized				5,000,000		5,000,000		5,000,000
Issuance of common stock (in shares)			1,500,000	3,100,000
Maximum shares authorized to be sold during period (in shares)			7,500,000
Proceeds from issuance of common stock and warrants		$ 7,100,000				$ 8,078,000	$ 37,200,000
Shares issued, price per share (in dollars per share)			$ 5
Payment of equity issuance costs		$ 1,000,000		$ 3,800,000		$ 0	$ 3,737,000
Common Stock
Class of Stock [Line Items]
Issuance of common stock for preferred stock (unaudited) (in shares)				3,644,354
Issuance of common stock for preferred stock warrant (unaudited) (in shares)				593,589
Number of shares of stock to be acquired									56,603
Warrants exercisable price per share (in dollars per share)									$ 4.24
Underwriter | Common Stock
Class of Stock [Line Items]
Number of shares of stock to be acquired				62,000
Period from effective date of initial public offering until warrants are exercisable				1 year
Warrants exercisable price per share (in dollars per share)				$ 15
Warrant, February 2014
Class of Stock [Line Items]
Warrants exercisable price per share (in dollars per share)						$ 15
Common stock warrants						62,000
Warrant, November 2014
Class of Stock [Line Items]
Warrants exercisable price per share (in dollars per share)						$ 4.24
Common stock warrants						56,603
Warrant, July 2015
Class of Stock [Line Items]
Warrants exercisable price per share (in dollars per share)						$ 6.25
Common stock warrants						1,725,000
CEO | Restricted stock units
Class of Stock [Line Items]
Number of award issued (in shares)					24,000	4,500
Over-Allotment Option
Class of Stock [Line Items]
Issuance of common stock (in shares)		112,500
Maximum amount of additional common stock available to underwriters (in shares)			225,000
Additional warrants available to underwriters (in dollars per warrant)			$ 0.01
Proceeds from issuance of warrants			$ 2,300
Proceeds from issuance of common stock		$ 561,375
Shares issued, price per share (in dollars per share)		$ 4.99
MLV & Co. LLC
Class of Stock [Line Items]
Issuance of common stock (in shares)						263,273
Proceeds from issuance of common stock						$ 1,000,000
Common stock maximum offering price (up to)	$ 18,000,000
Sales agent commission rate	3.00%
Shares issued, price per share (in dollars per share)						$ 4.07
Payment of equity issuance costs						$ 94,000

Stockholders' equity (deficit36

Stockholders' equity (deficit) - Shared Reserved for Future Issuance (Details) - shares	Sep. 30, 2015	Dec. 31, 2014
Equity [Abstract]
Stock options outstanding	1,442,500	1,272,581
Shares available for grant under stock option plans	1,030,250
Restricted stock units	12,500
Common stock warrants	1,843,603
Total shares reserved for future issuance	4,328,853

Stockholders' equity (deficit37

Stockholders' equity (deficit) - Stock Option Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	May. 15, 2014	Nov. 30, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 24, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under stock option plans			1,030,250		1,030,250
Number of Shares:
Outstanding at the beginning of the period (in shares)					1,272,581
Granted (in shares)					317,550
Exercised (in shares)					0
Expired (in shares)					(4,865)
Cancelled (in shares)					(142,766)
Outstanding at the end of the period (in shares)			1,442,500		1,442,500
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)					$ 4.19
Granted (in dollars per share)					6.08
Exercised (in dollars per share)					0
Expired (in dollars per share)					15.20
Cancelled (in dollars per share)					5.76
Outstanding at the end of the period (in dollars per share)			$ 4.46		$ 4.46
Exercisable
Exercisable at the end of the period (in shares)			688,969		688,969
Weighted average exercise price for exercisable options (in dollars per share)			$ 2.88		$ 2.88
Assumptions used to determine the fair value of the stock options
Volatility (as a percent)			95.94%	93.94%	96.72%	83.90%
Dividend yield			0.00%	0.00%	0.00%	0.00%
Expected life in years			5 years 9 months 18 days	6 years 3 months 18 days	5 years 10 months 24 days	6 years 9 months 18 days
Risk free interest rate (as a percent)			1.70%	2.04%	1.70%	2.11%
Stock based compensation expense			$ 332	$ 187	$ 915	$ 727
Research and development
Assumptions used to determine the fair value of the stock options
Stock based compensation expense			51	40	183	77
General and administrative
Assumptions used to determine the fair value of the stock options
Stock based compensation expense			$ 281	$ 147	$ 732	$ 650
Restricted stock units | CEO
Restricted stock units
Number of award issued (in shares)		24,000			4,500
Restricted stock units | Vesting on October 21, 2014 | CEO
Restricted stock units
Award vesting rights percentage		25.00%
Restricted stock units | Vesting Equal Monthly Installments after Nov 1, 2014 | CEO
Restricted stock units
Award vesting rights percentage		75.00%
2007 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in number of shares authorized under the plan	673,923
Number of shares authorized under the plan	1,283,226						2,483,226
Shares available for grant under stock option plans			1,030,250		1,030,250

Commitments (Details)

Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Lease
Rent expense	$ 30	$ 13	$ 85	$ 39

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Care Capital, LLC
Related Party Transactions [Line Items]
Expense for services provided	$ 0	$ 70

Subsequent Event (Details)

Subsequent Event (Details) - USD ($)	Nov. 06, 2015	Jul. 31, 2015	Jul. 22, 2015	Feb. 14, 2014	Nov. 10, 2015	Sep. 30, 2015	Sep. 30, 2014	Nov. 20, 2014
Subsequent Event [Line Items]
Issuance of common stock (in shares)			1,500,000	3,100,000
Shares issued, price per share (in dollars per share)			$ 5
Payment of equity issuance costs		$ 1,000,000		$ 3,800,000		$ 0	$ 3,737,000
Issuance of warrants			1,725,000					56,603
Subsequent Event
Subsequent Event [Line Items]
Issuance of common stock (in shares)	2,156,863
Shares issued, price per share (in dollars per share)	$ 2.55
Proceeds from issuance of common stock	$ 5,500,000
Ownership limitation, percent of shares owned (up to)	4.99%
Ownership limitation with notice to company, percent of shares owned (up to)	9.99%
Period to file registration statement (up to)	30 days
Period for registration statement to become effective (no later than)	90 days
Period for registration statement to become effective with SEC review	120 days
Over-Allotment Option
Subsequent Event [Line Items]
Issuance of common stock (in shares)		112,500
Shares issued, price per share (in dollars per share)		$ 4.99
Proceeds from issuance of common stock		$ 561,375
MLV & Co. LLC
Subsequent Event [Line Items]
Issuance of common stock (in shares)						263,273
Shares issued, price per share (in dollars per share)						$ 4.07
Proceeds from issuance of common stock						$ 1,000,000
Payment of equity issuance costs						$ 94,000
MLV & Co. LLC | Subsequent Event
Subsequent Event [Line Items]
Issuance of common stock (in shares)					45,268
Shares issued, price per share (in dollars per share)					$ 3.05
Proceeds from issuance of common stock					$ 100,000
Payment of equity issuance costs					$ 5,000
H.C. Wainwright & Co., LLC | Subsequent Event
Subsequent Event [Line Items]
Issuance of warrants	107,843

Subsequent Event Subsequent Eve

Subsequent Event Subsequent Event - Schedule of Warrants (Details) - $ / shares	Nov. 06, 2015	Sep. 30, 2015	Jul. 22, 2015	Nov. 20, 2014
Subsequent Event [Line Items]
Common stock warrants		1,843,603
Warrants exercisable price per share (in dollars per share)			$ 6.25	$ 4.24
Subsequent Event
Subsequent Event [Line Items]
Common stock warrants	8,088,236
Series A Warrants | Subsequent Event
Subsequent Event [Line Items]
Common stock warrants	1,617,647
Warrants exercisable price per share (in dollars per share)	$ 3.56
Warrants exercisable term	5 years
Series B Warrants | Subsequent Event
Subsequent Event [Line Items]
Common stock warrants	2,156,863
Warrants exercisable price per share (in dollars per share)	$ 3.56
Warrants exercisable term	12 months 1 day
Series C Warrants | Subsequent Event
Subsequent Event [Line Items]
Common stock warrants	2,156,863
Warrants exercisable price per share (in dollars per share)	$ 3.56
Warrants exercisable term	18 months
Series D Warrants | Subsequent Event
Subsequent Event [Line Items]
Common stock warrants	2,156,863
Warrants exercisable price per share (in dollars per share)	$ 3.56
Warrants exercisable term	8 months