ChemoCentryx (CCXI) 10-Q 6 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'CCXI	'
Entity Registrant Name	'ChemoCentryx, Inc.	'
Entity Central Index Key	'0001340652	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	43,340,506

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$20,896	$10,258
Short-term investments	64,403	123,055
Accounts receivable from related party	'	393
Prepaid expenses and other current assets	767	596
Total current assets	86,066	134,302
Property and equipment, net	1,193	1,399
Long-term investments	39,364	16,561
Other assets	200	160
Total assets	126,823	152,422
Current liabilities:	'	'
Accounts payable	1,030	909
Accrued liabilities	7,050	5,649
Current portion of equipment financing obligations	47	314
Total current liabilities	8,127	6,872
Noncurrent equipment financing obligations	'	16
Other non-current liabilities	189	226
Total liabilities	8,316	7,114
Stockholders' equity:	'	'
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding;	'	'
Common stock, $0.001 par value, 200,000,000 shares authorized at September 30, 2014 and December 31, 2013; 43,335,756 shares and 42,888,168 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively.	43	43
Additional paid-in capital	326,095	318,103
Note receivable	-16	-16
Accumulated other comprehensive income	-14	40
Accumulated deficit	-207,601	-172,862
Total stockholders' equity	118,507	145,308
Total liabilities and stockholders' equity	$126,823	$152,422

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	43,335,756	42,888,168
Common stock, shares outstanding	43,335,756	42,888,168

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues:	'	'	'	'
Collaborative research and development revenue from related party	'	$1,522	'	$5,335
Operating expenses:	'	'	'	'
Research and development	7,543	8,193	24,694	26,124
General and administrative	3,510	2,882	10,415	8,655
Total operating expenses	11,053	11,075	35,109	34,779
Loss from operations	-11,053	-9,553	-35,109	-29,444
Other income (expense):	'	'	'	'
Interest income	116	134	391	360
Interest expense	-4	-14	-21	-46
Total other income, net	112	120	370	314
Net loss	($10,941)	($9,433)	($34,739)	($29,130)
Basic and diluted net loss per common share	($0.25)	($0.22)	($0.80)	($0.72)
Shares used to compute basic and diluted net loss per common share	43,336	42,839	43,239	40,262

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net loss	($10,941)	($9,433)	($34,739)	($29,130)
Unrealized gain (loss) on available-for-sale securities	-36	173	-54	7
Comprehensive loss	($10,977)	($9,260)	($34,793)	($29,123)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating activities	'	'
Net loss	($34,739)	($29,130)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation of property and equipment	414	426
Stock-based compensation	6,344	4,699
Noncash interest and amortization of premium on investments, net	1,860	1,243
Changes in assets and liabilities:	'	'
Accounts receivable due from related party	393	633
Prepaids and other current assets	-171	70
Other assets	-40	'
Accounts payable	121	-58
Accrued and other liabilities	1,438	-1,363
Deferred revenue from related party	'	-3,385
Net cash used in operating activities	-24,380	-26,865
Investing activities	'	'
Purchases of property and equipment, net	-208	-445
Purchases of investments	-74,349	-119,253
Maturities of investments	108,210	93,582
Net cash provided by (used in) investing activities	33,653	-26,116
Financing activities	'	'
Proceeds from issuance of common stock	'	64,365
Proceeds from exercise of stock options and employee stock purchase plan	1,648	2,585
Proceeds from exercise of warrants	'	312
Payments on equipment financing obligations	-283	-426
Net cash provided by financing activities	1,365	66,836
Net increase in cash and cash equivalents	10,638	13,855
Cash and cash equivalents at beginning of period	10,258	8,460
Cash and cash equivalents at end of period	20,896	22,315
Supplemental disclosures of cash flow information	'	'
Cash paid for interest	$95	$22

Description_of_Business

Description of Business	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Description of Business	'
	1	Description of Business
	ChemoCentryx, Inc. (the Company) commenced operations in 1997. The Company is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing orally administered chemoattractant receptor-based therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. The Company’s principal operations are in the United States and it operates in one segment.
	Unaudited Interim Financial Information
	The financial information filed is unaudited. The Condensed Consolidated Financial Statements included in this report reflect all adjustments (consisting only of normal recurring adjustments) that the Company considers necessary for the fair statement of the results of operations for the interim periods covered and of the financial condition of the Company at the date of the interim balance sheet. The December 31, 2013 Condensed Consolidated Balance Sheet was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America (GAAP). The results for interim periods are not necessarily indicative of the results for the entire year or any other interim period. The Condensed Consolidated Financial Statements should be read in conjunction with the Company’s financial statements and the notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission on March 14, 2014.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2	Summary of Significant Accounting Policies
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates.
	Reclassifications
	Certain items in the notes to Condensed Consolidated Financial Statements have been reclassified to conform to the current fiscal year’s format.
	Net Loss Per Share
	Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents.
	Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the sum of the weighted-average number of common shares outstanding and dilutive common stock equivalent shares outstanding for the period. The Company’s potentially dilutive common stock equivalent shares, which include incremental common shares issuable upon the exercise of outstanding stock options and warrants, vesting of restricted stock units (RSUs), and the purchase from contributions to the 2012 Employee Stock Purchase Plan (the ESPP), (calculated based on the treasury stock method), are only included in the calculation of diluted net loss per share when their effect is dilutive.
	For the nine months ended September 30, 2014 and 2013, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:
			Nine Months Ended
			September 30,
			2014		2013
	Options to purchase common stock, including purchases from contributions to ESPP			7,234,291		5,371,204
	Restricted stock units			135,135		—
	Warrants to purchase common stock			150,000		151,672
				7,519,426		5,522,876
	Comprehensive Income (Loss)
	Comprehensive loss comprises net loss and other comprehensive income (loss). For the periods presented other comprehensive income (loss) consists solely of unrealized gains and losses on the Company’s available-for-sale securities. For the periods presented there were no reclassification differences or income tax effects related to the unrealized gains or losses on the Company’s available-for-sale securities.
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board and the International Accounting Standards Board issued new converged accounting guidance on revenue recognition in contracts with customers. This new standard impacts the determination of identifying performance obligations in the contract, and estimating the amount of variable consideration to include in the transaction price. Additionally, it modifies the manner in which the transaction price is allocated to each separate performance obligation. This new standard is effective for the Company beginning in the first quarter of 2017. Early adoption is not permitted. The Company is in the process of evaluating the impact of the new standard on its consolidated financial statements.

Cash_Equivalents_and_Investmen

Cash Equivalents and Investments	9 Months Ended
	Sep. 30, 2014
Cash and Cash Equivalents [Abstract]	'
Cash Equivalents and Investments	'
	3	Cash Equivalents and Investments
	The amortized cost and fair value of cash equivalents and investments at September 30, 2014 and December 31, 2013 were as follows (in thousands):
			September 30, 2014
			Amortized		Gross Unrealized					Fair
			Cost		Gains		Losses			Value
	Money market fund		$	18,671	$	—	$	—		$	18,671
	U.S. treasury securities			19,174		13		(2	)		19,185
	Government-sponsored agencies			21,152		6		(13	)		21,145
	Commercial paper			8,498		—		—			8,498
	Corporate debt securities			54,958		10		(29	)		54,939
	Total available-for-sale securities		$	122,453	$	29	$	(44	)	$	122,438
	Classified as:
	Cash equivalents									$	18,671
	Short-term investments										64,403
	Long-term investments										39,364
	Total available-for-sale securities									$	122,438
			31-Dec-13
			Amortized		Gross Unrealized					Fair
			Cost		Gains		Losses			Value
	Money market fund		$	8,212	$	—	$	—		$	8,212
	Certificate of deposits			6,025		—		—			6,025
	U.S. treasury securities			2,001		3		—			2,004
	Government-sponsored agencies			9,825		7		(2	)		9,830
	Commercial paper			12,192		—		—			12,192
	Corporate debt securities			109,533		56		(24	)		109,565
	Total available-for-sale securities		$	147,788	$	66	$	(26	)	$	147,828
	Classified as:
	Cash equivalents									$	8,212
	Short-term investments										123,055
	Long-term investments										16,561
	Total available-for-sale securities									$	147,828
	Cash equivalents in the tables above exclude cash of $2.2 million and $2.0 million as of September 30, 2014 and December 31, 2013, respectively. All available-for-sale securities held as of September 30, 2014 had contractual maturities of less than two years. There have been no significant realized gains or losses on available-for-sale securities for the periods presented. No available-for-sale securities held as of September 30, 2014 have been in a continuous unrealized loss position for more than 12 months. As of September 30, 2014, unrealized losses on available-for-sale investments are not attributed to credit risk and are considered to be temporary. The Company believes that it is more-likely-than-not that investments in an unrealized loss position will be held until maturity or the recovery of the cost basis of the investment. The Company believes it has no other-than-temporary impairments on its securities because it does not intend to sell these securities and it believes it is not more likely than not that it will be required to sell these securities before the recovery of their amortized cost basis. To date, the Company has not recorded any impairment charges on marketable securities related to other-than-temporary declines in market value.
	During the three and nine months ended September 30, 2014 and 2013, there were no sales of investments, and therefore there were no reclassification adjustments of accumulated other comprehensive income to net income resulting from realized gains or losses on the sale of securities.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	4	Fair Value Measurements
	The Company determines the fair value of financial assets and liabilities using three levels of inputs as follows:
	Level 1—Inputs which include quoted prices in active markets for identical assets and liabilities.
	Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; 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.
	Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements are as follows as of September 30, 2014 and December 31, 2013 (in thousands):
			September 30, 2014
	Description		Level 1		Level 2		Level 3		Total
	Money market fund		$	18,671	$	—	$	—	$	18,671
	U.S. treasury securities			—		19,185		—		19,185
	Government-sponsored agencies			—		21,145		—		21,145
	Commercial paper			—		8,498		—		8,498
	Corporate debt securities			—		54,939		—		54,939
	Total assets		$	18,671	$	103,767	$	—	$	122,438
			31-Dec-13
	Description		Level 1		Level 2		Level 3		Total
	Money market fund		$	8,212	$	—	$	—	$	8,212
	Certificate of deposits			6,025		—		—		6,025
	U.S. treasury securities			—		2,004		—		2,004
	Government-sponsored agencies			—		9,830		—		9,830
	Commercial paper			—		12,192		—		12,192
	Corporate debt securities			—		109,565		—		109,565
	Total assets		$	14,237	$	133,591	$	—	$	147,828
	During the three and nine months ended September 30, 2014, there were no transfers between Level 1 and Level 2 financial assets. When the Company uses observable market prices for identical securities that are traded in less active markets, the Company classifies its marketable debt instruments as Level 2. When observable market prices for identical securities are not available, the Company prices its marketable debt instruments using non-binding market consensus prices that are corroborated with observable market data; quoted market prices for similar instruments; or pricing models, such as a discounted cash flow model, with all significant inputs derived from or corroborated with observable market data. Non-binding market consensus prices are based on the proprietary valuation models of pricing providers or brokers. These valuation models incorporate a number of inputs, including non-binding and binding broker quotes; observable market prices for identical or similar securities; and the internal assumptions of pricing providers or brokers that use observable market inputs and, to a lesser degree, unobservable market inputs. The Company corroborates non-binding market consensus prices with observable market data using statistical models when observable market data exists. The discounted cash flow model uses observable market inputs, such as LIBOR-based yield curves, currency spot and forward rates, and credit ratings.

Accrued_Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2014
Payables and Accruals [Abstract]	'
Accrued Liabilities	'
	5	Accrued Liabilities
	Accrued liabilities consist of the following (in thousands):
			September 30,		December 31,
			2014		2013
	Research and development related		$	4,452	$	3,337
	Compensation related			1,613		1,589
	Consulting and professional services			516		399
	Other			469		324
			$	7,050	$	5,649

RelatedParty_Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related-Party Transactions	'
	6	Related-Party Transactions
	Glaxo Group Limited
	In August 2006, the Company entered into a product development and commercialization agreement with Glaxo Group Limited (GSK), an affiliate of GlaxoSmithKline, which ended in November 2013. The Company recognized the following revenues from GSK during the three and nine months ended September 30, 2014 and 2013 (in thousands):
			Three Months Ended				Nine Months Ended
			September 30,				September 30,
			2014		2013		2014		2013
	GSK
	Contract revenue		$	—	$	393		—	$	1,950
	Recognition of up-front payments			—		1,129		—		3,385
	Total revenues		$	—	$	1,522		—	$	5,335
	At September 30, 2014 and December 31, 2013, the Company had an accounts receivable balance due from GSK of $0 and $0.4 million, respectively. At September 30, 2014 and December 31, 2013, the Company had an investment of $0 and $3.0 million, respectively, in corporate bonds issued by GlaxoSmithKline Capital, Inc., a subsidiary of GlaxoSmithKline.
	Techne
	In September 2011, the Company entered into a convertible note loan agreement with Techne Corporation (Techne), one of its principal stockholders, pursuant to which the Company issued a convertible note to Techne with a principal amount of $10.0 million and bearing interest at a rate of 5.0% per annum and a maturity date in September 2021. In February 2012, the Company completed its initial public offering (IPO), and as such, all outstanding principal and accrued and unpaid interest automatically converted into 1,021,490 shares of common stock at a conversion price equal to the IPO price of $10.00 per share. Upon the conversion of the note in connection with the IPO, Techne received a warrant with a ten-year term to purchase 150,000 shares of the Company’s common stock at an exercise price per share equal to $20.00 per share, or 200% of the IPO price of its common stock. In addition, pursuant to the terms of the convertible note loan agreement, concurrent with the IPO, Techne purchased $5.0 million of the Company’s common stock in a private placement at $10.00 per share.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Shareholders' Equity	'
	7	Shareholders’ Equity
	Initial Public Offering
	In February 2012, the Company completed its IPO pursuant to which the Company issued 5,175,000 shares of common stock, including the exercise of the underwriters’ over-allotment option and received (a) net proceeds of $45.0 million, after underwriting discounts, commissions and offering expenses; and (b) gross proceeds of $12.0 million in concurrent private placements of 1,200,000 shares of common stock at the IPO price of $10.00 per share. In addition, in connection with the completion of the Company’s IPO, all convertible preferred stock converted into 24,332,186 shares of common stock. As discussed in Note 6, all outstanding principal and accrued and unpaid interest under the convertible note loan agreement with Techne also converted into common stock upon the completion of the Company’s IPO.
	Follow-On Public Offering
	In April 2013, the Company completed an underwritten public offering of 5,750,000 shares of its common stock at $12.00 per share. The Company received net proceeds of $64.4 million, after deducting underwriting discounts, commissions and offering expenses.
	Warrants
	In February 2012, in connection with the IPO, the Company’s outstanding warrants to purchase Series B convertible preferred stock converted into warrants to purchase 159,500 shares of common stock at $5.20 per share, with expiration dates from 2012 through 2014. As discussed in Note 6, upon the completion of the Company’s IPO in February 2012, Techne received a warrant with a ten-year term to purchase 150,000 shares of the Company’s common stock at $20.00 per share. During the three and nine months ended September 30, 2014, no warrants were exercised. As of September 30, 2014 and December 31, 2013, warrants to purchase 150,000 shares of common stock were outstanding with a weighted-average exercise price of $20.00. All other warrants were either expired or exercised.

Equity_Incentive_Plans

Equity Incentive Plans	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Equity Incentive Plans	'
	8	Equity Incentive Plans
	During the three months ended June 30, 2014, the Company began issuing RSUs to its non-employee directors pursuant to the Company’s Non-Employee Director Compensation Policy (Directors Policy) under its 2012 Equity Incentive Award Plan. RSUs are independent of stock option grants and cannot be transferred, and they are subject to forfeiture if recipients terminate their service to the Company prior to the release of the vesting restrictions. The RSUs awarded under the Directors Policy vest on earlier of the first anniversary of the grant date or the occurrence of a change in control. The RSUs are valued at the closing price of the Company’s common stock on the date of grant. The Company will recognize the expense of these RSUs over the expected life of the award, with no adjustment in future periods based upon the Company’s actual stock price over the vesting period. For the nine months ended September 30, 2014, the Company granted 135,135 RSUs, none of which have vested as of September 30, 2014.
	During the nine months ended September 30, 2014, the Company had the following option activities under its equity incentive plans:
						Outstanding Options
			Available for			Shares			Weighted Average		Weighted		Aggregate
			Grant						Exercise Price		Average		Intrinsic Value
											Remaining
											Contractual
											Term
	Balance at December 31, 2013			2,383,920			5,301,622		$	8.71
	Shares authorized			1,700,000
	Granted (1)			(2,606,035	)		2,470,900			6.51
	Exercised			—			(372,890	)		3.6
	Expired or Forfeited			222,514			(222,514	)		8.71
	Balance at September 30, 2014			1,700,399			7,177,118		$	8.22		7.16	$	1,263,953
	-1	The difference between the number of shares available for grant and shares outstanding represents the RSUs granted for the period.
	Stock-based Compensation
	Total stock-based compensation expense was $2.0 million and $6.3 million during the three and nine months ended September 30, 2014, respectively, and $1.6 million and $4.7 million during the same periods ended September 30, 2013. As of September 30, 2014, $16.6 million of total unrecognized compensation expense related to employee stock options, net of estimated forfeitures, was expected to be recognized over a weighted-average period of 2.90 years.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates.
Reclassifications	'
	Reclassifications
	Certain items in the notes to Condensed Consolidated Financial Statements have been reclassified to conform to the current fiscal year’s format.
Net Loss Per Share	'
	Net Loss Per Share
	Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents.
	Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the sum of the weighted-average number of common shares outstanding and dilutive common stock equivalent shares outstanding for the period. The Company’s potentially dilutive common stock equivalent shares, which include incremental common shares issuable upon the exercise of outstanding stock options and warrants, vesting of restricted stock units (RSUs), and the purchase from contributions to the 2012 Employee Stock Purchase Plan (the ESPP), (calculated based on the treasury stock method), are only included in the calculation of diluted net loss per share when their effect is dilutive.
Comprehensive Income (Loss)	'
	Comprehensive Income (Loss)
	Comprehensive loss comprises net loss and other comprehensive income (loss). For the periods presented other comprehensive income (loss) consists solely of unrealized gains and losses on the Company’s available-for-sale securities. For the periods presented there were no reclassification differences or income tax effects related to the unrealized gains or losses on the Company’s available-for-sale securities.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board and the International Accounting Standards Board issued new converged accounting guidance on revenue recognition in contracts with customers. This new standard impacts the determination of identifying performance obligations in the contract, and estimating the amount of variable consideration to include in the transaction price. Additionally, it modifies the manner in which the transaction price is allocated to each separate performance obligation. This new standard is effective for the Company beginning in the first quarter of 2017. Early adoption is not permitted. The Company is in the process of evaluating the impact of the new standard on its consolidated financial statements.
Fair Value of Financial Assets and Liabilities	'
	The Company determines the fair value of financial assets and liabilities using three levels of inputs as follows:
	Level 1—Inputs which include quoted prices in active markets for identical assets and liabilities.
	Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; 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.
	Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Market Prices for Identical Securities	'
	When the Company uses observable market prices for identical securities that are traded in less active markets, the Company classifies its marketable debt instruments as Level 2. When observable market prices for identical securities are not available, the Company prices its marketable debt instruments using non-binding market consensus prices that are corroborated with observable market data; quoted market prices for similar instruments; or pricing models, such as a discounted cash flow model, with all significant inputs derived from or corroborated with observable market data. Non-binding market consensus prices are based on the proprietary valuation models of pricing providers or brokers. These valuation models incorporate a number of inputs, including non-binding and binding broker quotes; observable market prices for identical or similar securities; and the internal assumptions of pricing providers or brokers that use observable market inputs and, to a lesser degree, unobservable market inputs. The Company corroborates non-binding market consensus prices with observable market data using statistical models when observable market data exists. The discounted cash flow model uses observable market inputs, such as LIBOR-based yield curves, currency spot and forward rates, and credit ratings.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share Due to Anti-Dilutive Effect	'
	For the nine months ended September 30, 2014 and 2013, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:
		Nine Months Ended
		September 30,
		2014		2013
	Options to purchase common stock, including purchases from contributions to ESPP		7,234,291		5,371,204
	Restricted stock units		135,135		—
	Warrants to purchase common stock		150,000		151,672
			7,519,426		5,522,876

Cash_Equivalents_and_Investmen1

Cash Equivalents and Investments (Tables)	9 Months Ended
	Sep. 30, 2014
Cash and Cash Equivalents [Abstract]	'
Amortized Cost and Fair Value of Cash Equivalents and Investments	'
	The amortized cost and fair value of cash equivalents and investments at September 30, 2014 and December 31, 2013 were as follows (in thousands):
		September 30, 2014
		Amortized		Gross Unrealized					Fair
		Cost		Gains		Losses			Value
	Money market fund	$	18,671	$	—	$	—		$	18,671
	U.S. treasury securities		19,174		13		(2	)		19,185
	Government-sponsored agencies		21,152		6		(13	)		21,145
	Commercial paper		8,498		—		—			8,498
	Corporate debt securities		54,958		10		(29	)		54,939
	Total available-for-sale securities	$	122,453	$	29	$	(44	)	$	122,438
	Classified as:
	Cash equivalents								$	18,671
	Short-term investments									64,403
	Long-term investments									39,364
	Total available-for-sale securities								$	122,438
		31-Dec-13
		Amortized		Gross Unrealized					Fair
		Cost		Gains		Losses			Value
	Money market fund	$	8,212	$	—	$	—		$	8,212
	Certificate of deposits		6,025		—		—			6,025
	U.S. treasury securities		2,001		3		—			2,004
	Government-sponsored agencies		9,825		7		(2	)		9,830
	Commercial paper		12,192		—		—			12,192
	Corporate debt securities		109,533		56		(24	)		109,565
	Total available-for-sale securities	$	147,788	$	66	$	(26	)	$	147,828
	Classified as:
	Cash equivalents								$	8,212
	Short-term investments									123,055
	Long-term investments									16,561
	Total available-for-sale securities								$	147,828

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements of Company's Financial Assets and Liabilities	'
	The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements are as follows as of September 30, 2014 and December 31, 2013 (in thousands):
		September 30, 2014
	Description	Level 1		Level 2		Level 3		Total
	Money market fund	$	18,671	$	—	$	—	$	18,671
	U.S. treasury securities		—		19,185		—		19,185
	Government-sponsored agencies		—		21,145		—		21,145
	Commercial paper		—		8,498		—		8,498
	Corporate debt securities		—		54,939		—		54,939
	Total assets	$	18,671	$	103,767	$	—	$	122,438
		31-Dec-13
	Description	Level 1		Level 2		Level 3		Total
	Money market fund	$	8,212	$	—	$	—	$	8,212
	Certificate of deposits		6,025		—		—		6,025
	U.S. treasury securities		—		2,004		—		2,004
	Government-sponsored agencies		—		9,830		—		9,830
	Commercial paper		—		12,192		—		12,192
	Corporate debt securities		—		109,565		—		109,565
	Total assets	$	14,237	$	133,591	$	—	$	147,828

Accrued_Liabilities_Tables

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2014
Payables and Accruals [Abstract]	'
Accrued Liabilities	'
	Accrued liabilities consist of the following (in thousands):
		September 30,		December 31,
		2014		2013
	Research and development related	$	4,452	$	3,337
	Compensation related		1,613		1,589
	Consulting and professional services		516		399
	Other		469		324
		$	7,050	$	5,649

RelatedParty_Transactions_Tabl

Related-Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Revenues from GSK	'
	The Company recognized the following revenues from GSK during the three and nine months ended September 30, 2014 and 2013 (in thousands):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	GSK
	Contract revenue	$	—	$	393		—	$	1,950
	Recognition of up-front payments		—		1,129		—		3,385
	Total revenues	$	—	$	1,522		—	$	5,335

Equity_Incentive_Plans_Tables

Equity Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Option Activity under its Stock Plans	'
	During the nine months ended September 30, 2014, the Company had the following option activities under its equity incentive plans:
						Outstanding Options
			Available for			Shares			Weighted Average		Weighted		Aggregate
			Grant						Exercise Price		Average		Intrinsic Value
											Remaining
											Contractual
											Term
	Balance at December 31, 2013			2,383,920			5,301,622		$	8.71
	Shares authorized			1,700,000
	Granted (1)			(2,606,035	)		2,470,900			6.51
	Exercised			—			(372,890	)		3.6
	Expired or Forfeited			222,514			(222,514	)		8.71
	Balance at September 30, 2014			1,700,399			7,177,118		$	8.22		7.16	$	1,263,953
	-1	The difference between the number of shares available for grant and shares outstanding represents the RSUs granted for the period.

Description_of_Business_Additi

Description of Business - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014
	Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Number of operating segment	1

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share Due to Anti-Dilutive Effect (Detail)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	7,519,426	5,522,876
Restricted Stock Units (RSUs) [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	135,135	'
Options to Purchase Common Stock, Including Purchases from Contributions to ESPP [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	7,234,291	5,371,204
Warrants to Purchase Common Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	150,000	151,672

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Equity [Abstract]	'	'	'	'
Reclassification differences or income tax effects related to the unrealized gains or losses	$0	$0	$0	$0

Cash_Equivalents_and_Investmen2

Cash Equivalents and Investments - Amortized Cost and Fair Value of Cash Equivalents and Investments (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	$122,453	$147,788
Gross Unrealized Gains	29	66
Gross Unrealized Losses	-44	-26
Available-for-sale Securities	122,438	147,828
Money Market Fund [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	18,671	8,212
Gross Unrealized Gains	'	'
Gross Unrealized Losses	'	'
Available-for-sale Securities	18,671	8,212
Certificate of Deposits [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	'	6,025
Gross Unrealized Gains	'	'
Gross Unrealized Losses	'	'
Available-for-sale Securities	'	6,025
U.S. Treasury Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	19,174	2,001
Gross Unrealized Gains	13	3
Gross Unrealized Losses	-2	'
Available-for-sale Securities	19,185	2,004
Government-Sponsored Agencies [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	21,152	9,825
Gross Unrealized Gains	6	7
Gross Unrealized Losses	-13	-2
Available-for-sale Securities	21,145	9,830
Commercial Paper [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	8,498	12,192
Gross Unrealized Gains	'	'
Gross Unrealized Losses	'	'
Available-for-sale Securities	8,498	12,192
Corporate Debt Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	54,958	109,533
Gross Unrealized Gains	10	56
Gross Unrealized Losses	-29	-24
Available-for-sale Securities	$54,939	$109,565

Cash_Equivalents_and_Investmen3

Cash Equivalents and Investments - Amortized Cost and Fair Value of Cash Equivalents and Investments 2 (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Cash and Cash Equivalents [Abstract]	'	'
Cash equivalents	$18,671	$8,212
Short-term investments	64,403	123,055
Long-term investments	39,364	16,561
Available-for-sale Securities	$122,438	$147,828

Cash_Equivalents_and_Investmen4

Cash Equivalents and Investments - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
	Investment		Investment
Cash and Cash Equivalents [Abstract]	'	'	'	'	'
Maturity period available-for-sale securities	'	'	'Less than two years	'	'
Significant realized gains or losses on available-for-sale securities	$0	'	$0	'	'
Available-for-sale securities held	0	'	0	'	'
Cash	2,200,000	'	2,200,000	'	2,000,000
Number of investment positions in available-for-sale investments	0	'	0	'	'
Sales of investments	0	0	0	0	'
Reclassification adjustments of accumulated other comprehensive income to net income	$0	$0	$0	$0	'

Fair_Value_Measurements_Fair_V

Fair Value Measurements - Fair Value Measurements of Company's Financial Assets and Liabilities (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	$122,438	$147,828
Money Market Fund [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	18,671	8,212
U.S. Treasury Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	19,185	2,004
Government-Sponsored Agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	21,145	9,830
Commercial paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	8,498	12,192
Corporate Debt Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	54,939	109,565
Certificate of Deposits [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	6,025
Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	18,671	14,237
Level 1 [Member] | Money Market Fund [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	18,671	8,212
Level 1 [Member] | U.S. Treasury Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 1 [Member] | Government-Sponsored Agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 1 [Member] | Commercial paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 1 [Member] | Corporate Debt Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 1 [Member] | Certificate of Deposits [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	6,025
Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	103,767	133,591
Level 2 [Member] | Money Market Fund [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 2 [Member] | U.S. Treasury Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	19,185	2,004
Level 2 [Member] | Government-Sponsored Agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	21,145	9,830
Level 2 [Member] | Commercial paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	8,498	12,192
Level 2 [Member] | Corporate Debt Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	54,939	109,565
Level 2 [Member] | Certificate of Deposits [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 3 [Member] | Money Market Fund [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 3 [Member] | U.S. Treasury Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 3 [Member] | Government-Sponsored Agencies [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 3 [Member] | Commercial paper [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 3 [Member] | Corporate Debt Securities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'
Level 3 [Member] | Certificate of Deposits [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Total assets	'	'

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Transfers from Level 1 to Level 2 financial assets	$0
Transfers from Level 2 to Level 1 financial assets	$0

Accrued_Liabilities_Accrued_Li

Accrued Liabilities - Accrued Liabilities (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Payables and Accruals [Abstract]	'	'
Research and development related	$4,452	$3,337
Compensation related	1,613	1,589
Consulting and professional services	516	399
Other	469	324
Accrued liabilities	$7,050	$5,649

RelatedParty_Transactions_Reve

Related-Party Transactions - Revenues from GSK (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Related Party Transaction [Line Items]	'	'	'	'
Contract revenue	'	$1,522	'	$5,335
GSK Agreement [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Contract revenue	'	393	'	1,950
Recognition of up-front payments	'	$1,129	'	$3,385

RelatedParty_Transactions_Addi

Related-Party Transactions - Additional Information (Detail) (USD $)	1 Months Ended				1 Months Ended			1 Months Ended
	Feb. 29, 2012	Dec. 31, 2013	Sep. 30, 2014	Dec. 31, 2013	Feb. 29, 2012	Sep. 30, 2011	Feb. 29, 2012	Feb. 29, 2012	Sep. 30, 2014	Dec. 31, 2013
			Corporate Bonds [Member]	Corporate Bonds [Member]	Techne [Member]	Techne [Member]	Techne [Member]	Techne [Member]	GSK Agreement [Member]	GSK Agreement [Member]
							Private Placements [Member]	Convertible Notes Payable [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'	'
Accounts receivable	'	$393,000	'	'	'	'	'	'	$0	$400,000
Investment in corporate bonds	'	'	0	3,000,000	'	'	'	'	'	'
Convertible loan, principal amount	'	'	'	'	'	10,000,000	'	'	'	'
Convertible loan, interest rate	'	'	'	'	'	5.00%	'	'	'	'
Convertible loan, maturity date	'	'	'	'	'	'2021-09	'	'	'	'
Outstanding, accrued, unpaid interest converted into common stock	'	'	'	'	'	'	'	1,021,490	'	'
Conversion price of common stock	'	'	'	'	$10	'	'	'	'	'
Warrant contractual term	'10 years	'	'	'	'10 years	'	'	'	'	'
Purchase of warrant common stock	150,000	'	'	'	150,000	'	'	'	'	'
Warrant common stock exercise price	$20	'	'	'	$20	'	'	'	'	'
Warrant common stock exercise price rate	'	'	'	'	200.00%	'	'	'	'	'
Parties purchased common stock	'	'	'	'	'	'	$5,000,000	'	'	'
Techne purchased common stock per share	'	'	'	'	'	'	$10	'	'	'

Shareholders_Equity_Additional

Shareholders' Equity - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended				1 Months Ended		1 Months Ended
	Feb. 29, 2012	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Feb. 29, 2012	Feb. 29, 2012	Feb. 29, 2012	Apr. 30, 2013
						Series B Convertible Preferred Stock [Member]	IPO [Member]	Private Placements [Member]	Follow-On Public Offering [Member]
Stockholders Equity [Line Items]	'	'	'	'	'	'	'	'	'
Issuance of common stock	'	'	'	'	'	'	5,175,000	'	5,750,000
Net proceeds after underwriting discounts, commissions and offering expenses	'	'	'	'	'	'	$45,000,000	'	'
Gross proceeds in concurrent private placements	'	'	'	'	'	'	12,000,000	'	'
Common stock, shares issued	'	43,335,756	43,335,756	'	42,888,168	'	'	1,200,000	'
Common stock offering price per share	'	'	'	'	'	'	'	$10	$12
Conversion of preferred stock to common stock	'	'	'	'	'	'	24,332,186	'	'
Net proceeds after underwriting discounts, commissions and offering expenses	'	'	'	$64,365,000	'	'	'	'	$64,400,000
Warrant common stock exercise price	'	'	'	'	'	$5.20	'	'	'
Warrant common stock exercise price	$20	'	'	'	'	'	'	'	'
Warrant contractual term	'10 years	'	'	'	'	'	'	'	'
Purchase of warrant common stock	150,000	'	'	'	'	159,500	'	'	'
Warrants outstanding to purchase convertible stock	'	150,000	150,000	'	150,000	'	'	'	'
Weighted-average exercise price	'	$20	$20	'	$20	'	'	'	'
Warrant to purchase common stock were exercised	'	0	0	'	'	'	'	'	'

Equity_Incentive_Plans_Additio

Equity Incentive Plans - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Stock-based compensation	$2,000,000	$1,600,000	$6,344,000	$4,699,000
Unrecognized compensation expense related to employee stock options	$16,600,000	'	$16,600,000	'
Total unrecognized compensation expense related to employee stock options weighted-average period	'	'	'2 years 10 months 24 days	'
Restricted Stock [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
RSUs, Granted	'	'	135,135	'
RSUs, Vested	'	'	0	'

Equity_Incentive_Plans_Option_

Equity Incentive Plans - Option Activity under its Stock Plans (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Shares Available for Grant, Beginning Balance	2,383,920
Available for Grant, Shares Authorized	1,700,000
Shares Available for Grant, Option Granted	-2,606,035
Shares Available for Grant, Exercised	'
Shares Available for Grant, Option Expired or Forfeited	222,514
Shares Available for Grant, Ending Balance	1,700,399
Shares Options Outstanding, Beginning Balance	5,301,622
Shares, Options Outstanding, Authorized	'
Shares, Options Outstanding, Granted	2,470,900
Shares, Options Outstanding, Exercised	-372,890
Shares, Options Outstanding, Expired or Forfeited	-222,514
Shares, Options Outstanding, Ending Balance	7,177,118
Weighted Average Exercise Price, Options Outstanding, Beginning Balance	$8.71
Weighted Average Exercise Price, Shares Authorized	'
Weighted Average Exercise Price, Granted	$6.51
Weighted Average Exercise Price, Exercised	$3.60
Weighted Average Exercise Price, Expired or Forfeited	$8.71
Weighted Average Exercise Price, Options Outstanding, Ending Balance	$8.22
Options Outstanding and Exercisable, Weighted Average Remaining Contractual Term	'7 years 1 month 28 days
Options Exercisable Aggregate Intrinsic Value	$1,263,953