ChemoCentryx (CCXI) 10-Q 8 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	1-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	CCXI
Entity Registrant Name	ChemoCentryx, Inc.
Entity Central Index Key	1340652
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		43,693,814

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$25,436	$16,075
Short-term investments	49,406	57,282
Prepaid expenses and other current assets	1,211	972
Total current assets	76,053	74,329
Property and equipment, net	1,181	1,208
Long-term investments	29,927	41,263
Other assets	175	181
Total assets	107,336	116,981
Current liabilities:
Accounts payable	809	748
Accrued liabilities	6,937	7,442
Total current liabilities	7,746	8,190
Other non-current liabilities	181	185
Total liabilities	7,927	8,375
Preferred stock:
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 March 31, 2015 and December 31, 2014; 43,673,625 shares and 43,446,096 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively.	44	43
Additional paid-in capital	331,170	328,440
Note receivable	-16	-16
Accumulated other comprehensive income (loss)	8	-70
Accumulated deficit	-231,797	-219,791
Total stockholders' equity	99,409	108,606
Total liabilities and stockholders' equity	$107,336	$116,981

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
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	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	43,673,625	43,446,096
Common stock, shares outstanding	43,673,625	43,446,096

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Revenues:	$0	$0
Operating expenses:
Research and development	8,420	8,149
General and administrative	3,689	3,523
Total operating expenses	12,109	11,672
Loss from operations	-12,109	-11,672
Other income (expense):
Interest income	103	146
Interest expense		-11
Total other income, net	103	135
Net loss	($12,006)	($11,537)
Basic and diluted net loss per common share	($0.28)	($0.27)
Shares used to compute basic and diluted net loss per common share	43,502	43,107

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Comprehensive Loss (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	($12,006)	($11,537)
Unrealized gain on available-for-sale securities	78	18
Comprehensive loss	($11,928)	($11,519)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net loss	($12,006)	($11,537)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	133	153
Stock-based compensation	2,400	2,106
Noncash interest expense, net	471	642
Changes in assets and liabilities:
Accounts receivable due from related party		389
Prepaids and other current assets	-233	-514
Accounts payable	61	-199
Other liabilities	-509	499
Net cash used in operating activities	-9,683	-8,461
Investing activities
Purchases of property and equipment, net	-106	-32
Purchases of investments	-8,532	-33,000
Sales of investments	4,051	0
Maturities of investments	23,300	41,719
Net cash provided by investing activities	18,713	8,687
Financing activities
Proceeds from exercise of stock options	331	1,290
Payments on equipment financing obligations		-146
Net cash provided by financing activities	331	1,144
Net increase in cash and cash equivalents	9,361	1,370
Cash and cash equivalents at beginning of period	16,075	10,258
Cash and cash equivalents at end of period	25,436	11,628
Supplemental disclosures of cash flow information
Cash paid for interest		$3

Description_of_Business

Description of Business	3 Months Ended
	Mar. 31, 2015
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 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, 2014 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, 2014 filed with the Securities and Exchange Commission on March 13, 2015.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
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.
	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 (i) the exercise of outstanding stock options and warrants, (ii) vesting of restricted stock units (RSUs), and (iii) 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 three months ended March 31, 2015 and 2014, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:
			Three Months Ended
			March 31,
			2015		2014
	Options to purchase common stock, including purchases from contributions to ESPP			8,179,188		7,190,380
	Restricted stock units			135,135		—
	Warrants to purchase common stock			150,000		150,000
				8,464,323		7,340,380
	Comprehensive Loss
	Comprehensive loss comprises net loss and other comprehensive income. For the periods presented other comprehensive income consists of unrealized gains on the Company’s available-for-sale securities. For the three months ended March 31, 2015, amounts reclassified from accumulated other income to net income for unrealized gains (losses) on available-for-sale securities were not significant, and were recorded as part of other income (expense), net in the Condensed Consolidated Statements of Operations. For the three months ended March 31, 2014, there were no sales of investments, and therefore there were no reclassifications.

Cash_Equivalents_and_Investmen

Cash Equivalents and Investments	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Investments	3	Cash Equivalents and Investments
	The amortized cost and fair value of cash equivalents and investments at March 31, 2015 and December 31, 2014 were as follows (in thousands):
			March 31, 2015
			Amortized		Gross Unrealized					Fair
			Cost		Gains		Losses			Value
	Money market fund		$	24,296	$	—	$	—		$	24,296
	U.S. treasury securities			19,129		20		—			19,149
	Government-sponsored agencies			25,230		19		(3	)		25,246
	Corporate debt securities			34,966		—		(28	)		34,938
	Total available-for-sale securities		$	103,621	$	39	$	(31	)	$	103,629
	Classified as:
	Cash equivalents									$	24,296
	Short-term investments										49,406
	Long-term investments										29,927
	Total available-for-sale securities									$	103,629
			31-Dec-14
			Amortized		Gross Unrealized					Fair
			Cost		Gains		Losses			Value
	Money market fund		$	15,922	$	—	$	—		$	15,922
	U.S. treasury securities			19,117		5		(2	)		19,120
	Government-sponsored agencies			29,772		4		(13	)		29,763
	Commercial paper			1,500		—		—			1,500
	Corporate debt securities			48,226		4		(68	)		48,162
	Total available-for-sale securities		$	114,537	$	13	$	(83	)	$	114,467
	Classified as:
	Cash equivalents									$	15,922
	Short-term investments										57,282
	Long-term investments										41,263
	Total available-for-sale securities									$	114,467
	Cash equivalents in the tables above exclude cash of $1.1 million and $0.2 million as of March 31, 2015 and December 31, 2014, respectively. All available-for-sale securities held as of March 31, 2015 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 significant available-for-sale securities held as of March 31, 2015 have been in a continuous unrealized loss position for more than 12 months. As of March 31, 2015, 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.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015 and December 31, 2014 (in thousands):
			March 31, 2015
	Description		Level 1		Level 2		Level 3		Total
	Money market fund		$	24,296	$	—	$	—	$	24,296
	U.S. treasury securities			—		19,149		—		19,149
	Government-sponsored agencies			—		25,246		—		25,246
	Corporate debt securities			—		34,938		—		34,938
	Total assets		$	24,296	$	79,333	$	—	$	103,629
			31-Dec-14
	Description		Level 1		Level 2		Level 3		Total
	Money market fund		$	15,922	$	—	$	—	$	15,922
	U.S. treasury securities			—		19,120		—		19,120
	Government-sponsored agencies			—		29,763		—		29,763
	Commercial paper			—		1,500		—		1,500
	Corporate debt securities			—		48,162		—		48,162
	Total assets		$	15,922	$	98,545	$	—	$	114,467
	During the three months ended March 31, 2015, 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	3 Months Ended
	Mar. 31, 2015
Payables and Accruals [Abstract]
Accrued Liabilities	5	Accrued Liabilities
	Accrued liabilities consist of the following (in thousands):
			March 31,		December 31,
			2015		2014
	Research and development related		$	5,075	$	4,982
	Compensation related			971		1,956
	Consulting and Professional Services			425		254
	Other			466		250
			$	6,937	$	7,442

RelatedParty_Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related-Party Transactions	6	Related-Party Transactions
	Bio-Techne
	In September 2011, the Company entered into a convertible note loan agreement with Bio-Techne Corporation, formerly Techne Corporation, (Bio-Techne), one of its principal stockholders, pursuant to which the Company issued a convertible note to Bio-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, Bio-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, Bio-Techne purchased $5.0 million of the Company’s common stock in a private placement at $10.00 per share. As of March 31, 2015 and December 31, 2014, the Company had an accounts payable balance due to Bio-Techne for the purchases of research materials of $3,400 and $1,150, respectively.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Stockholders' Equity	7	Stockholders’ 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 Bio-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, Bio-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 months ended March 31, 2015, no warrants were exercised. As of March 31, 2015 and December 31, 2014, 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	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Plans	8	Equity Incentive Plans
	Stock Options
	During the three months ended March 31, 2015, the Company had the following option activities under its equity incentive plans:
						Outstanding Options
			Available for			Shares			Weighted Average		Weighted		AggregateIntrinsic Value
			Grant						Exercise Price		Average
											Remaining
											Contractual
											Term
	Balance at December 31, 2014			2,010,735			6,831,532		$	8.29
	Shares authorized			1,700,000
	Granted			(1,551,900	)		1,551,900			8.19
	Exercised			—			(227,529	)		1.45
	Forfeited and expired			34,591			(34,591	)		9.33
	Balance at March 31, 2015			2,193,426			8,121,312		$	8.46		7.29	$	6,465,442
	Stock-based Compensation
	Total stock-based compensation expense was $2.4 million and $2.1 million during the three months ended March 31, 2015 and 2014, respectively. As of March 31, 2015, $17.9 million, $0.1 million, and $0.1 million of total unrecognized compensation expenses associated with outstanding stock options, unvested RSUs, and the ESPP, net of estimated forfeitures, were expected to be recognized over a weighted-average period of 2.90, 0.14, and 0.12 years, respectively.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
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.
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 (i) the exercise of outstanding stock options and warrants, (ii) vesting of restricted stock units (RSUs), and (iii) 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 Loss	Comprehensive Loss
	Comprehensive loss comprises net loss and other comprehensive income. For the periods presented other comprehensive income consists of unrealized gains on the Company’s available-for-sale securities. For the three months ended March 31, 2015, amounts reclassified from accumulated other income to net income for unrealized gains (losses) on available-for-sale securities were not significant, and were recorded as part of other income (expense), net in the Condensed Consolidated Statements of Operations. For the three months ended March 31, 2014, there were no sales of investments, and therefore there were no reclassifications.
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)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share Due to Anti-Dilutive Effect	For the three months ended March 31, 2015 and 2014, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:
		Three Months Ended
		March 31,
		2015		2014
	Options to purchase common stock, including purchases from contributions to ESPP		8,179,188		7,190,380
	Restricted stock units		135,135		—
	Warrants to purchase common stock		150,000		150,000
			8,464,323		7,340,380

Cash_Equivalents_and_Investmen1

Cash Equivalents and Investments (Tables)	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Amortized Cost and Fair Value of Cash Equivalents and Investments	The amortized cost and fair value of cash equivalents and investments at March 31, 2015 and December 31, 2014 were as follows (in thousands):
		March 31, 2015
		Amortized		Gross Unrealized					Fair
		Cost		Gains		Losses			Value
	Money market fund	$	24,296	$	—	$	—		$	24,296
	U.S. treasury securities		19,129		20		—			19,149
	Government-sponsored agencies		25,230		19		(3	)		25,246
	Corporate debt securities		34,966		—		(28	)		34,938
	Total available-for-sale securities	$	103,621	$	39	$	(31	)	$	103,629
	Classified as:
	Cash equivalents								$	24,296
	Short-term investments									49,406
	Long-term investments									29,927
	Total available-for-sale securities								$	103,629
		31-Dec-14
		Amortized		Gross Unrealized					Fair
		Cost		Gains		Losses			Value
	Money market fund	$	15,922	$	—	$	—		$	15,922
	U.S. treasury securities		19,117		5		(2	)		19,120
	Government-sponsored agencies		29,772		4		(13	)		29,763
	Commercial paper		1,500		—		—			1,500
	Corporate debt securities		48,226		4		(68	)		48,162
	Total available-for-sale securities	$	114,537	$	13	$	(83	)	$	114,467
	Classified as:
	Cash equivalents								$	15,922
	Short-term investments									57,282
	Long-term investments									41,263
	Total available-for-sale securities								$	114,467

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015
	Description	Level 1		Level 2		Level 3		Total
	Money market fund	$	24,296	$	—	$	—	$	24,296
	U.S. treasury securities		—		19,149		—		19,149
	Government-sponsored agencies		—		25,246		—		25,246
	Corporate debt securities		—		34,938		—		34,938
	Total assets	$	24,296	$	79,333	$	—	$	103,629
		31-Dec-14
	Description	Level 1		Level 2		Level 3		Total
	Money market fund	$	15,922	$	—	$	—	$	15,922
	U.S. treasury securities		—		19,120		—		19,120
	Government-sponsored agencies		—		29,763		—		29,763
	Commercial paper		—		1,500		—		1,500
	Corporate debt securities		—		48,162		—		48,162
	Total assets	$	15,922	$	98,545	$	—	$	114,467

Accrued_Liabilities_Tables

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2015
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued liabilities consist of the following (in thousands):
		March 31,		December 31,
		2015		2014
	Research and development related	$	5,075	$	4,982
	Compensation related		971		1,956
	Consulting and Professional Services		425		254
	Other		466		250
		$	6,937	$	7,442

Equity_Incentive_Plans_Tables

Equity Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Option Activities under Its Equity Incentive Plans	During the three months ended March 31, 2015, the Company had the following option activities under its equity incentive plans:
					Outstanding Options
		Available for			Shares			Weighted Average		Weighted		AggregateIntrinsic Value
		Grant						Exercise Price		Average
										Remaining
										Contractual
										Term
	Balance at December 31, 2014		2,010,735			6,831,532		$	8.29
	Shares authorized		1,700,000
	Granted		(1,551,900	)		1,551,900			8.19
	Exercised		—			(227,529	)		1.45
	Forfeited and expired		34,591			(34,591	)		9.33
	Balance at March 31, 2015		2,193,426			8,121,312		$	8.46		7.29	$	6,465,442

Description_of_Business_Additi

Description of Business - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015
	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)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	8,464,323	7,340,380
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	8,179,188	7,190,380
Unvested 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
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	150,000

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Reclassification differences or income tax effects related to the unrealized gains or losses		$0
Sales of investments	$4,051,000	$0

Cash_Equivalents_and_Investmen2

Cash Equivalents and Investments - Amortized Cost and Fair Value of Cash Equivalents and Investments (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$103,621	$114,537
Gross Unrealized Gains	39	13
Gross Unrealized Losses	-31	-83
Available-for-sale Securities	103,629	114,467
Money Market Fund [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	24,296	15,922
Available-for-sale Securities	24,296	15,922
U.S. Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	19,129	19,117
Gross Unrealized Gains	20	5
Gross Unrealized Losses		-2
Available-for-sale Securities	19,149	19,120
Government-Sponsored Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25,230	29,772
Gross Unrealized Gains	19	4
Gross Unrealized Losses	-3	-13
Available-for-sale Securities	25,246	29,763
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		1,500
Available-for-sale Securities		1,500
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	34,966	48,226
Gross Unrealized Gains		4
Gross Unrealized Losses	-28	-68
Available-for-sale Securities	$34,938	$48,162

Cash_Equivalents_and_Investmen3

Cash Equivalents and Investments - Amortized Cost and Fair Value of Cash Equivalents and Investments 2 (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Cash and Cash Equivalents [Abstract]
Cash equivalents	$24,296	$15,922
Short-term investments	49,406	57,282
Long-term investments	29,927	41,263
Available-for-sale Securities	$103,629	$114,467

Cash_Equivalents_and_Investmen4

Cash Equivalents and Investments - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
	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
Available-for-sale securities held	0
Cash	$1,100,000	$200,000
Number of investment positions in available-for-sale investments	0

Fair_Value_Measurements_Fair_V

Fair Value Measurements - Fair Value Measurements of Company's Financial Assets and Liabilities (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$103,629	$114,467
Money Market Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	24,296	15,922
U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	19,149	19,120
Government-Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	25,246	29,763
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		1,500
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	34,938	48,162
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	24,296	15,922
Level 1 [Member] | Money Market Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	24,296	15,922
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	79,333	98,545
Level 2 [Member] | U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	19,149	19,120
Level 2 [Member] | Government-Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	25,246	29,763
Level 2 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		1,500
Level 2 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$34,938	$48,162

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Mar. 31, 2015
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 $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Payables and Accruals [Abstract]
Research and development related	$5,075	$4,982
Compensation related	971	1,956
Consulting and Professional Services	425	254
Other	466	250
Accrued liabilities	$6,937	$7,442

RelatedParty_Transactions_Addi

Related-Party Transactions - Additional Information (Detail) (USD $)	1 Months Ended
	Feb. 29, 2012	Sep. 30, 2011	Mar. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Warrant contractual term	10 years
Purchase of warrant common stock	150,000
Warrant common stock exercise price	$20
Accounts payable balance			$809,000	$748,000
Bio-Techne [Member]
Related Party Transaction [Line Items]
Convertible loan, principal amount		10,000,000
Convertible loan, interest rate		5.00%
Convertible loan, maturity date		2021-09
Conversion price of common stock	$10
Warrant contractual term	10 years
Purchase of warrant common stock	150,000
Warrant common stock exercise price	$20
Warrant common stock exercise price rate	200.00%
Accounts payable balance			3,400	1,150
Bio-Techne [Member] | Private Placement [Member]
Related Party Transaction [Line Items]
Parties purchased common stock	$5,000,000
Common stock purchased, price per share	$10
Bio-Techne [Member] | Convertible Notes Payable [Member]
Related Party Transaction [Line Items]
Outstanding, accrued, unpaid interest converted into common stock	1,021,490

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended	1 Months Ended
In Millions, except Share data, unless otherwise specified	Feb. 29, 2012	Mar. 31, 2015	Apr. 30, 2013	Dec. 31, 2014
Stockholders Equity [Line Items]
Warrants to purchase common stock, exercise price	$20
Warrant contractual term	10 years
Purchase of warrant common stock	150,000
Warrants outstanding to purchase common stock		150,000		150,000
Weighted-average exercise price		$20		$20
Warrant to purchase common stock were exercised		0
Series B Convertible Preferred Stock [Member]
Stockholders Equity [Line Items]
Warrant common stock exercise price	$5.20
Purchase of warrant common stock	159,500
Follow-On Public Offering [Member]
Stockholders Equity [Line Items]
Issuance of common stock			5,750,000
Common stock offering price per share			$12
Net proceeds after underwriting discounts, commissions and offering expenses			$64.40
IPO [Member]
Stockholders Equity [Line Items]
Issuance of common stock	5,175,000
Net proceeds after underwriting discounts, commissions and offering expenses	45
Conversion of preferred stock to common stock	24,332,186
Private Placement [Member]
Stockholders Equity [Line Items]
Issuance of common stock	1,200,000
Gross proceeds in concurrent private placements	$12
Common stock offering price per share	$10

Equity_Incentive_Plans_Option_

Equity Incentive Plans - Option Activities under Its Equity Incentive Plans (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares Available for Grant, Outstanding Beginning Balance	2,010,735
Available for Grant, Shares authorized	1,700,000
Shares Available for Grant, Granted	-1,551,900
Shares Available for Grant, Exercised	0
Shares Available for Grant, Forfeited and expired	34,591
Shares Available for Grant, Outstanding Ending Balance	2,193,426
Shares, Options Outstanding, Beginning Balance	6,831,532
Shares, Options Outstanding, Granted	1,551,900
Shares, Options Outstanding, Exercised	-227,529
Shares, Options Outstanding, Forfeited and expired	-34,591
Shares, Options Outstanding, Ending Balance	8,121,312
Weighted Average Exercise Price, Options Outstanding, Beginning Balance	$8.29
Weighted Average Exercise Price, Shares authorized	$0
Weighted Average Exercise Price, Granted	$8.19
Weighted Average Exercise Price, Exercised	$1.45
Weighted Average Exercise Price, Forfeited and expired	$9.33
Weighted Average Exercise Price, Options Outstanding, Ending Balance	$8.46
Options Outstanding, Weighted Average Remaining Contractual Term	7 years 3 months 15 days
Options Outstanding, Aggregate Intrinsic Value	$6,465,442

Equity_Incentive_Plans_Additio

Equity Incentive Plans - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$2,400,000	$2,106,000
Unrecognized compensation expenses associated with outstanding stock options/ESPP	17,900,000
Total unrecognized compensation expenses associated with outstanding stock options, unvested RSU's and ESPP, weighted-average period	2 years 10 months 24 days
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expenses associated with outstanding stock options/ESPP	100,000
Total unrecognized compensation expenses associated with outstanding stock options, unvested RSU's and ESPP, weighted-average period	1 month 13 days
Unvested Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expenses associated with unvested RSU's	$100,000
Total unrecognized compensation expenses associated with outstanding stock options, unvested RSU's and ESPP, weighted-average period	1 month 21 days