ChemoCentryx (CCXI) 10-Q 9 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 31, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
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 Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-35420
Entity Tax Identification Number	94-3254365
Entity Address, Address Line One	850 Maude Avenue
Entity Address, City or Town	Mountain View
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94043
City Area Code	650
Local Phone Number	210-2900
Entity Incorporation, State or Country Code	DE
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, par value $0.001 per share
Entity Common Stock, Shares Outstanding		69,208,414
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 56,177	$ 39,179
Short-term investments	415,207	133,607
Accounts receivable, other	44	176
Accounts receivable from related party	58	0
Prepaid expenses and other current assets	2,956	1,400
Total current assets	474,442	174,362
Property and equipment, net	15,063	2,154
Long-term investments	14,456	29,454
Operating lease right-of-use assets	27,667	1,704
Other assets	1,414	1,409
Total assets	533,042	209,083
Current liabilities:
Accounts payable	8,868	1,532
Accrued and other current liabilities	18,938	19,806
Long-term debt, current	3,066	0
Other current liabilities to related party	6,173	0
Deferred revenue from related party	9,817	37,742
Total current liabilities	46,862	59,080
Long-term debt, net	21,260	19,786
Non-current deferred revenue from related party	24,814	63,095
Non-current lease liabilities	34,436	566
Other non-current liabilities	851	556
Total liabilities	128,223	143,083
Commitments (Note 7)
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized; 69,108,573 and 60,234,784 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	69	60
Additional paid-in capital	859,960	495,624
Note receivable	(16)	(16)
Accumulated other comprehensive income	272	318
Accumulated deficit	(455,466)	(429,986)
Total stockholders’ equity	404,819	66,000
Total liabilities and stockholders’ equity	$ 533,042	$ 209,083

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
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	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	69,108,573	60,234,784
Common stock, shares outstanding	69,108,573	60,234,784

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Collaboration and license revenue from related party	$ 5,027	$ 10,581	$ 60,165	$ 26,081
Grant revenue	58	0	368	0
Total revenue	5,085	10,581	60,533	26,081
Operating expenses:
Research and development	18,582	18,096	56,655	51,074
General and administrative	10,362	6,116	29,474	17,187
Total operating expenses	28,944	24,212	86,129	68,261
Loss from operations	(23,859)	(13,631)	(25,596)	(42,180)
Other income (expense):
Interest income	499	1,311	2,059	3,850
Interest expense	(700)	(542)	(1,943)	(1,631)
Total other income (expense), net	(201)	769	116	2,219
Net loss	$ (24,060)	$ (12,862)	$ (25,480)	$ (39,961)
Basic and diluted net loss per common share	$ (0.35)	$ (0.22)	$ (0.40)	$ (0.71)
Shares used to compute basic and diluted net loss per common share	68,922	58,205	64,500	56,219

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (24,060)	$ (12,862)	$ (25,480)	$ (39,961)
Unrealized gain (loss) on available-for-sale securities	(216)	56	(46)	607
Comprehensive loss	$ (24,276)	$ (12,806)	$ (25,526)	$ (39,354)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Note Receivable [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2018	$ 14,738	$ 51	$ 389,398	$ (16)	$ (198)	$ (374,497)
Beginning Balance, shares at Dec. 31, 2018		50,652,238
Net loss	(39,961)	$ 0	0	0	0	(39,961)
Unrealized (loss) gain on investments	607	0	0	0	607	0
Issuance of common stock under Equity Distribution Agreement, net of issuance costs	73,276	$ 6	73,270	0	0	0
Issuance of common stock under Equity Distribution Agreement, net of issuance costs, shares		6,491,196
Issuance of common stock under equity incentive and employee stock purchase plans	5,837	$ 1	5,836	0	0	0
Issuance of common stock under equity incentive and employee stock purchase plans, shares		1,217,325
Repurchased shares upon vesting of restricted stock units for tax withholdings	(1,174)	$ 0	(1,174)	0	0	0
Repurchased shares upon vesting of restricted stock units for tax withholdings, shares		(107,619)
Employee stock-based compensation	8,359	$ 0	8,359	0	0	0
Compensation expense related to options granted to consultants	180	0	180	0	0	0
Ending Balance at Sep. 30, 2019	61,862	$ 58	475,869	(16)	409	(414,458)
Ending Balance, shares at Sep. 30, 2019		58,253,140
Beginning Balance at Jun. 30, 2019	71,460	$ 58	472,661	(16)	353	(401,596)
Beginning Balance, shares at Jun. 30, 2019		58,209,745
Net loss	(12,862)	$ 0	0	0	0	(12,862)
Unrealized (loss) gain on investments	56	0	0	0	56	0
Issuance of common stock under equity incentive and employee stock purchase plans	269	$ 0	269	0	0	0
Issuance of common stock under equity incentive and employee stock purchase plans, shares		43,395
Employee stock-based compensation	2,856	$ 0	2,856	0	0	0
Compensation expense related to options granted to consultants	83	0	83	0	0	0
Ending Balance at Sep. 30, 2019	61,862	$ 58	475,869	(16)	409	(414,458)
Ending Balance, shares at Sep. 30, 2019		58,253,140
Beginning Balance at Dec. 31, 2019	$ 66,000	$ 60	495,624	(16)	318	(429,986)
Beginning Balance, shares at Dec. 31, 2019	60,234,784	60,234,784
Net loss	$ (25,480)	$ 0	0	0	0	(25,480)
Unrealized (loss) gain on investments	(46)	0	0	0	(46)	0
Issuance of common stock upon follow-on offering, net of issuance costs	325,654	$ 6	325,648	0	0	0
Issuance of common stock upon follow-on offering, net of issuance costs, shares		5,980,000
Issuance of common stock under equity incentive and employee stock purchase plans	26,498	$ 3	26,495	0	0	0
Issuance of common stock under equity incentive and employee stock purchase plans, shares		2,986,248
Repurchased shares upon vesting of restricted stock units for tax withholdings	(3,709)	$ 0	(3,709)	0	0	0
Repurchased shares upon vesting of restricted stock units for tax withholdings, shares		(92,459)
Employee stock-based compensation	15,171	$ 0	15,171	0	0	0
Compensation expense related to options granted to consultants	731	0	731	0	0	0
Ending Balance at Sep. 30, 2020	$ 404,819	$ 69	859,960	(16)	272	(455,466)
Ending Balance, shares at Sep. 30, 2020	69,108,573	69,108,573
Beginning Balance at Jun. 30, 2020	$ 421,141	$ 69	852,006	(16)	488	(431,406)
Beginning Balance, shares at Jun. 30, 2020		68,803,400
Net loss	(24,060)	$ 0	0	0	0	(24,060)
Unrealized (loss) gain on investments	(216)	0	0	0	(216)	0
Issuance of common stock under equity incentive and employee stock purchase plans	2,005	$ 0	2,005	0	0	0
Issuance of common stock under equity incentive and employee stock purchase plans, shares		305,173
Employee stock-based compensation	5,721	$ 0	5,721	0	0	0
Compensation expense related to options granted to consultants	228	0	228	0	0	0
Ending Balance at Sep. 30, 2020	$ 404,819	$ 69	$ 859,960	$ (16)	$ 272	$ (455,466)
Ending Balance, shares at Sep. 30, 2020	69,108,573	69,108,573

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
Operating activities
Net loss		$ (25,480)	$ (39,961)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		15,902	8,539
Depreciation of property and equipment		402	413
Non-cash lease expense		1,402	803
Non-cash interest expense (income), net		822	(1,394)
Changes in assets and liabilities:
Accounts receivable, other		132	0
Accounts receivable due from related party		(58)	2,058
Prepaids and other current assets		(770)	756
Other assets		(5)	116
Accounts payable		213	(29)
Operating lease liabilities		6,255	(801)
Other liabilities		(701)	3,460
Deferred revenue from related party		(60,033)	(23,853)
Net cash used in operating activities		(61,919)	(49,893)
Investing activities
Purchases of property and equipment, net		(6,136)	(465)
Purchases of investments		(391,942)	(189,404)
Sales of investments		0	4,967
Maturities of investments		124,220	165,770
Net cash used in investing activities		(273,858)	(19,132)
Financing activities
Proceeds from issuance of common stock		325,654	73,276
Proceeds from exercise of stock options and employee stock purchase plan		26,472	5,837
Employees' tax withheld and paid for restricted stock units		(3,709)	(1,174)
Borrowings under credit facility agreement, net of issuance costs		4,358	0
Net cash provided by financing activities		352,775	77,939
Net increase in cash, cash equivalents and restricted cash		16,998	8,914
Cash, cash equivalents and restricted cash at beginning of period		40,259	28,088
Cash, cash equivalents and restricted cash at end of period		57,257	37,002
Supplemental disclosures of cash flow information
Cash paid for interest		1,433	1,317
Right-of-use assets obtained in exchange for lease obligations	[1]	27,365	2,796
Purchases of property and equipment, net recorded in accounts payable and accrued liabilities		$ 7,175	$ 0
[1]	Amount for the nine months ended September 30, 2019 includes the transition adjustment of $1,301 for the adoption of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842).

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Right-of-use assets obtained in exchange for lease obligations	$ 2,796	[1]
Accounting Standards Update 2016-02 [Member]
Right-of-use assets obtained in exchange for lease obligations	$ 1,301
[1]	Amount for the nine months ended September 30, 2019 includes the transition adjustment of $1,301 for the adoption of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842).

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business	1. Description of Business ChemoCentryx, Inc. (the Company) commenced operations in 1997. The Company is a biopharmaceutical company focused on the development and commercialization of new medications targeted at inflammatory disorders, autoimmune diseases 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, 2019 Condensed Consolidated Balance Sheet was derived from audited financial statements. 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, 2019 filed with the Securities and Exchange Commission on March 10, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
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 (GAAP) 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. Concentration of Credit Risk The Company invests in a variety of financial instruments and, by its policy, limits the amount of credit exposure with any one issuer, industry or geographic area. Accounts receivable are typically unsecured and are concentrated in the pharmaceutical industry and government sector. Accordingly, the Company may be exposed to credit risk generally associated with pharmaceutical companies and government funded entities. The Company has not historically experienced any significant losses due to concentration of credit risk. Total accounts receivable consists of the following (in thousands): September 30, December 31, 2020 2019 U.S. Food and Drug Administration $ 44 $ 176 Vifor (International) Ltd., and/or its affiliates, or collectively, Vifor 58 — $ 102 $ 176 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 restricted stock awards (RSAs), 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 and nine months ended September 31, 2020 and 2019, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Three and Nine Months Ended September 30, 2020 2019 Options to purchase common stock, including purchases from contributions to ESPP 7,416 11,059 Restricted stock units 389 402 Restricted stock awards 14 41 Warrants to purchase common stock 150 150 7,969 11,652 Comprehensive Loss Comprehensive loss comprises net loss and other comprehensive gain (loss). For the periods presented, other comprehensive gain (loss) consists of unrealized gains (losses) on the Company’s available-for-sale securities. For the three and nine months ended September 30, 2020, there were no significant sales of investments and therefore there were no reclassifications of comprehensive loss Recent Accounting Pronouncements In June 2016, the Financial Accounting Standard Board issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments. The new standard replaces the incurred loss impairment methodology under the current standard with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company is required to use a forward-looking expected credit loss model for accounts receivable and other financial instruments. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The new standard became effective for the Company on January 1, 2020. The Company’s adoption on January 1, 2020 did not have a material impact on the consolidated financial statements. The Company has reviewed other recent accounting pronouncements and concluded they are either not applicable to the business or that no material effect is expected on the consolidated financial statements as a result of future adoption.

Cash Equivalents, Restricted Ca

Cash Equivalents, Restricted Cash and Investments	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Cash Equivalents, Restricted Cash and Investments	3. Cash Equivalents, Restricted Cash and Investments Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows (in thousands): September 30, December 31, 2020 2019 Cash and cash equivalents $ 56,177 $ 39,179 Restricted cash included in Other assets 1,080 1,080 Total cash, cash equivalents and restricted cash $ 57,257 $ 40,259 Restricted cash as of September 30, 2020 was held as collateral for stand-by letters of credit issued by the Company to its landlord in connection with the lease of the Company’s facility in San Carlos, California. See “Note 7. Commitments” for additional information of this lease. Cash Equivalents and Investments The amortized cost and fair value of cash equivalents and investments at September 30, 2020 and December 31, 2019 were as follows (in thousands): September 30, 2020 Amortized Gross Unrealized Fair Cost Gains Losses Value Money market fund $ 50,473 $ — $ — $ 50,473 U.S. treasury securities 200,899 104 — 201,003 Government-sponsored agencies 12,495 2 — 12,497 Commercial paper 120,809 — — 120,809 Asset-backed securities 22,218 68 — 22,286 Corporate debt securities 72,970 109 (11 ) 73,068 Total available-for-sale securities $ 479,864 $ 283 $ (11 ) $ 480,136 Classified as: Cash equivalents $ 50,473 Short-term investments 415,207 Long-term investments 14,456 Total available-for-sale securities $ 480,136 December 31, 2019 Amortized Gross Unrealized Fair Cost Gains Losses Value Money market fund $ 30,353 $ — $ — $ 30,353 U.S. treasury securities 40,245 47 — 40,292 Commercial paper 12,429 — — 12,429 Asset-backed securities 25,436 50 — 25,486 Corporate debt securities 84,605 225 (4 ) 84,826 Total available-for-sale securities $ 193,068 $ 322 $ (4 ) $ 193,386 Classified as: Cash equivalents $ 30,325 Short-term investments 133,607 Long-term investments 29,454 Total available-for-sale securities $ 193,386 Cash equivalents in the tables above exclude cash of $5.7 million and $8.9 million as of September 30, 2020 and December 31, 2019, respectively. All available-for-sale securities held as of September 30, 2020 had contractual maturities of less than two years.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
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. Recurring Fair Value Measurements The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows as of September 30, 2020 and December 31, 2019 (in thousands): September 30, 2020 Description Level 1 Level 2 Level 3 Total Money market fund $ 50,473 $ — $ — $ 50,473 U.S. treasury securities — 201,003 — 201,003 Government-sponsored agencies — 12,497 — 12,497 Commercial paper — 120,809 — 120,809 Asset-backed securities — 22,286 — 22,286 Corporate debt securities — 73,068 — 73,068 Total assets $ 50,473 $ 429,663 $ — $ 480,136 December 31, 2019 Description Level 1 Level 2 Level 3 Total Money market fund $ 30,353 $ — $ — $ 30,353 U.S. treasury securities — 40,292 — 40,292 Commercial paper — 12,429 — 12,429 Asset-backed securities — 25,486 — 25,486 Corporate debt securities — 84,826 — 84,826 Total assets $ 30,353 $ 163,033 $ — $ 193,386 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 Other Fair Value Measurements The carrying amount and estimated fair value of financial instruments not recorded at fair value at September 30, 2020 and December 31, 2019 were as follows (in thousands): September 30, December 31, 2020 2019 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Long-term debt, net (1) $ 24,326 $ 25,153 $ 19,786 $ 20,253 (1) Carrying amounts of long-term debt were net of unamortized debt discounts of $674 and $214 as of September 30, 2020 and December 31, 2019, respectively. The fair value of the Company's long-term debt is estimated using the net present value of future debt payments, discounted at an interest rate that is consistent with market interest rates, which is a Level 2 input.

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	9 Months Ended
	Sep. 30, 2020
Payables And Accruals [Abstract]
Accrued and Other Current Liabilities	5. Accrued and Other Current Liabilities Accrued and other current liabilities consist of the following (in thousands): September 30, December 31, 2020 2019 Research and development related $ 10,988 $ 13,100 Compensation related 4,337 3,608 Consulting and professional services 1,397 1,094 Current portion of operating lease liability 1,253 1,503 Other 963 501 $ 18,938 $ 19,806

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	6. Long-term Debt In December 2017, the Company entered into a Loan and Security Agreement, with Hercules Capital, Inc. (Hercules), pursuant to which term loans in an aggregate principal amount of up to $50.0 million (as amended, the Credit Facility) were available to the Company. As of September 30, 2020, the Company had borrowed $20.0 million under the Credit Facility, with an interest rate of 8.05% per annum and the remaining available amount had expired. Advances under the Credit Facility bear an interest rate equal to the greater of either (i) 8.05% On January 8, 2020, the Company entered into an Amended and Restated Loan and Security Agreement (the Amended Loan Agreement) with Hercules, which amended and restated the agreement between the parties, and pursuant to which an additional term loan in an aggregate principal amount of up to $100.0 million (the Restated Credit Facility) is available to the Company at its discretion in three tranches. The first tranche of the Restated Credit Facility of up to $40.0 million is available to the Company through December 15, 2020, of which $20.0 million became available upon submission of the avacopan New Drug Application (NDA) for the treatment of patients with anti-neutrophil cytoplasmic auto-antibody associated vasculitis (ANCA vasculitis). The second tranche of up to an additional $30.0 million would be available to the Company through December 15, 2021 upon NDA approval of avacopan for the treatment of ANCA vasculitis. The third tranche of up to an additional $30.0 million would be available through December 15, 2022, subject to certain conditions. Under the Restated Credit Facility, the Company had borrowed $5.0 million from the first tranche with an interest rate of 8.50% per annum as of September 30, 2020. Advances under the Restated Credit Facility bear an initial interest rate equal to the greater of either (i) 8.50% plus the Prime Rate minus 5.25%, and (ii) 8.50%, which may be reduced upon the Company achieving certain cumulative net avacopan revenue levels. For advances under the Restated Credit Facility, the Company will make interest only payments through September 1, 2022 and will then repay the principal balance and interest on the advances in equal monthly installments through February 1, 2024. Upon satisfaction of certain conditions, the interest-only payment period and the principal balance repayment period may be extended. In addition, the Company will pay an end of term charge of 7.15% of the aggregate amount of the advances under the Restated Credit Facility. The Company paid a commitment charge of 1% of the advances made under the Amended Loan Agreement, with a minimum charge of $162,500 for the Credit Facility and a minimum charge of $520,000 for the Restated Credit Facility. Also, the Company reimbursed Hercules for costs incurred related to the . These charges were recorded as discounts to the carrying value of the loan and are amortized over the term of the loan using the effective interest method. In addition, the Company may prepay advances under the Amended Loan Agreement, in whole or in part, at any time, subject to a prepayment charge that ranges from 1.0% to 2.0%, depending on the timing of the prepayment. The Amended Loan Agreement is secured by substantially all of the Company’s assets, excluding intellectual property. The Amended Loan Agreement also includes customary loan covenants, with which the Company was in compliance for all periods presented. In connection with the Amended Loan Agreement, the Company also entered into a Right to Invest Agreement with Hercules, pursuant to which Hercules shall have the right to participate, in an amount up to $3.0 million, in any subsequent equity financing broadly marketed to multiple investors in an amount greater than $30.0 million. As of September 30, 2020, the Company had outstanding borrowings under the Amended Loan Agreement of $24.3 million, net of discounts of $0.7 million. Future minimum principal payments, which exclude the end of term charge, related to the Restated Credit Facility as of September 30, 2020 are as follows (in thousands): Amounts Year ending December 31: Remaining of fiscal year 2020 $ — 2021 6,389 2022 14,666 2023 3,353 2024 592 Total minimum payments 25,000 Less: amount representing debt discount (674 ) Present value of remaining debt payments 24,326 Less: current portion (3,066 ) Non-current portion $ 21,260

Commitments

Commitments	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments	7. Commitments Operating Leases In May 2004, the Company entered into a noncancelable operating lease for its current office and primary research facility located in Mountain View, California. In May 2019, the Company entered into a third amendment to the lease agreement for the same facility to extend the term of the lease through April 2021. In July 2020, the Company entered into a letter agreement to further extend the lease term through June 2021. In July 2019, the Company entered into a ten-year The Company was provided a tenant improvement allowance of $ 15.4 million plus an additional allowance of $ 4.8 million for the same. The additional allowance will be repaid by the Company as additional rent in equal monthly payments at a rate of 7 % per annum through the initial term of the lease. As of September 30, 2020, the Company has received a tenant improvement allowance of $6.0 million. The Company has the right to sublease the facility, subject to landlord consent. The balance sheet classification of the Company’s operating lease assets and liabilities was as follows (in thousands): September 30, December 31, 2020 2019 Balance Sheet Assets: Operating lease right-of-use assets $ 27,667 $ 1,704 Liabilities: Operating lease liabilities: Accrued and other current liabilities (1) $ 1,253 $ 1,503 Non-current lease liabilities 34,436 566 (1) Includes current portion of operating lease liabilities as of September 30, 2020 and December 31, 2019. The component of lease costs, which was included in operating expenses in the Company’s Condensed Consolidated Statements of Operations, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost $ 1,743 $ 351 $ 2,905 $ 943 During the nine months ended September 30, 2020 and 2019, cash paid for amounts included in the measurement of lease liabilities was $1.2 million, excluding the $6.0 million tenant improvement allowance received, and $0.9 million, respectively. These amounts were included in net cash used in operating activities in the Company’s Condensed Consolidated Statements of Cash Flows. Future minimum lease payments under all noncancelable operating leases as of September 30, 2020 are as follows (in thousands): Operating leases Year ending December 31: Remaining of fiscal year 2020 $ 434 2021 5,210 2022 7,316 2023 7,516 2024 7,721 Thereafter 52,518 Total minimum payments 80,715 Less: interest (31,472 ) Less: future tenant improvement reimbursements (13,554 ) Present value of lease liabilities $ 35,689 As of September 30, 2020, the weighted-average remaining lease term was 10.2 years and the weighted-average operating discount rate used to determine the operating lease liability was 9.5%.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related-Party Transactions	8. Related-Party Transactions Vifor Vifor held 9,194,085 shares of the Company’s common stock as of September 30, 2020. The Company has collaboration agreements with Vifor: the Avacopan Agreements and the CCX140 Agreements (each as described below). See “Note 2. Summary of Significant Accounting Policies – Concentration of Credit Risk” for additional information on accounts receivable balance due from Vifor. Avacopan Agreements In May 2016, the Company entered into an exclusive collaboration and license agreement with Vifor pursuant to which the Company granted Vifor exclusive rights to commercialize avacopan in Europe and certain other markets (the Avacopan Agreement). Avacopan is the Company’s lead drug candidate for the treatment of patients with ANCA vasculitis In February 2017, Vifor and the Company expanded the Vifor territories under the Avacopan Agreement to include all markets outside the United States and China (the Avacopan Amendment). In connection with this February 2017 amendment, the Company received a $20.0 million upfront payment for the expanded rights. In June 2018, Vifor and the Company further expanded the Vifor territories under the Avacopan Agreement to provide Vifor with exclusive commercialization rights in China (the Avacopan Letter Agreement, and together with the Avacopan Agreement and the Avacopan Amendment, the Avacopan Agreements). The Company retains control of ongoing and future development of avacopan (other than country-specific development in the licensed territories) and all commercialization rights to avacopan in the United States. In consideration for the Avacopan Letter Agreement, the Company received a $5.0 million payment for the expanded rights. Upon achievement of certain regulatory and commercial milestones with avacopan, the Company will receive additional payments of up to $460.0 million under the Avacopan Agreements. In addition, the Company will receive royalties, with rates ranging from the low teens to the mid-twenties, on future potential net sales of avacopan by Vifor in the licensed territories. In December 2017, the Company achieved a $50.0 million regulatory milestone when the European Medicines Agency (EMA) validated the Company’s conditional marketing authorization (CMA) application for avacopan for the treatment of ANCA vasculitis The Company identified the following material promises under the Avacopan Agreements: (1) the license related to avacopan; (2) the development and regulatory services for the submission of the marketing authorization application (MAA); and (3) an exclusive option to negotiate a worldwide license agreement for CCX140, which expired in 2016. As of September 30, 2020, the transaction price of $153.0 million comprises the following: • $78.0 million upfront payment under the May 2016 Avacopan Agreement. Of the total $85.0 million upfront payment received under the May 2016 Avacopan Agreement, $7.0 million was allocated to the issuance of 3,333,333 shares of the Company’s common stock valued at $2.10 per share, the closing stock price on the effective date of the agreement, May 9, 2016. The remaining $78.0 million was allocated to the transaction price under this arrangement; • $20.0 million upfront payment under the February 2017 Avacopan Amendment; • $50.0 million regulatory milestone payment achieved upon the validation of the Company’s CMA application by the EMA, for avacopan for the treatment of ANCA vasculitis in December 2017; and • $5.0 million non-refundable upfront payment under the Avacopan Letter Agreement. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. The Company determined that the combined performance obligation will be performed over the duration of the contract, which began on the effective date of May 9, 2016 and ends upon completion of development and regulatory services. The Company uses a cost-based input method to measure proportional performance and to calculate the corresponding amount of revenue to recognize. The Company believes this is the best measure of progress because other measures do not reflect how the Company transfers its pe rformance obligation to Vifor. In applying the cost-based input method of revenue recognition, the Company measures actual costs incurred relative to budgeted costs to fulfill the combined performance obligation. These costs consist primarily of third-party contract costs. Revenue is recognized based on actual costs incurred as a percentage of total budgeted costs as the Company completes its performance obligations. For the three and nine months ended September 30, 2020, the Company recognized $2.9 million and $9.9 million of to $8.8 million and $20.9 million CCX140 Agreements In December 2016, the Company entered into a second collaboration and license agreement with Vifor pursuant to which the Company granted Vifor exclusive rights to commercialize CCX140 (the CCX140 Agreement) in markets outside the United States and China. CCX140 is an orally-administered inhibitor of the chemokine receptor known as CCR2. The Company retains marketing rights in the United States and China, while Vifor has commercialization rights in the rest of the world. Pursuant to the CCX140 Agreement, the Company is responsible for the clinical development of CCX140 in rare renal diseases and is reimbursed for Vifor’s equal share of such development cost. Under the terms of the CCX140 Agreement, the Company received a non-refundable upfront payment of $50.0 million in 2017. In June 2018, the Company and Vifor entered into a letter agreement to expand Vifor’s rights to include the right to exclusively commercialize CCX140 in China (the CCX140 Letter Agreement). In connection with the CCX140 Letter Agreement, the Company received a non-refundable payment of $5.0 million. The Company and Vifor also entered into an amendment to the CCX140 Agreement (the CCX140 Amendment, and together with the CCX140 Agreement and the CCX140 Letter Agreement, the CCX140 Agreements) to clarify the timing of certain payments with respect to development funding of the CCX140 program by Vifor, and the Company received a non-refundable payment of $11.5 million. The Company retains control of ongoing and future development of CCX140 (other than country-specific development in the licensed territories), and all commercialization rights to CCX140 in the United States. The Company identified the following material promises under the CCX140 Agreements: (1) the license related to CCX140; and (2) the development and regulatory services for the submission of the MAA. The Company considered that the license has standalone functionality and is capable of being distinct. However, the Company determined that the license is not distinct from the development and regulatory services within the context of the agreement because Vifor is dependent on the Company to execute the development and regulatory activities in order for Vifor to benefit from the license. As such, the license is combined with the development and regulatory services into a single performance obligation. As of September 30, 2020, the transaction price of • $50.0 • $11.5 • $5.0 The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. The Company determined that the combined performance obligation will be performed over the duration of the contract, which began on the effective date of December 22, 2016 and ends upon completion of development services. The Company uses a cost-based input method to measure proportional performance and to calculate the corresponding amount of revenue to recognize. The Company believes this is the best measure of progress because other measures do not reflect how the Company transfers its performance obligation to Vifor. In applying the cost-based input method of revenue recognition, the Company measures actual costs incurred relative to budgeted costs to fulfill the combined performance obligation. These costs consist primarily of third-party contract costs. Revenue is recognized based on actual costs incurred as a percentage of total budgeted costs as the Company completes its performance obligations. I n May 2020 , the Company announced topline data from a 46 patient Phase II dose-ranging trial in the orphan kidney disorder, primary Focal Segmental Glomerulosclerosis (FSGS) , called the LUMINA-1 trial . In the study, CCX140 did not demonstrate a meaningful reduction in proteinuria relative to the control group after 12 weeks of blinded treatment. As such, CCX140 will not be further developed in FSGS. As a result, the Company reduced the total anticipated FSGS budgeted costs and the corresponding transaction price related to development funding under the CCX140 Agreement by $ 47.2 million and recognized $ 46.7 million of contract revenue during the three months ended June 30, 2020. In addition, the Company reclassified $ 6.2 million of deferred revenue previously received from Vifor to other current liabilities to related party. Vifor retains an option to solely develop and commercialize CCX140 in more prevalent forms of chronic kidney disease (CKD). Should Vifor later exercise the CKD option, the Company would receive co-promotion rights for CKD in the United States. For the three and nine months ended September 30, 2020, the Company recognized $2.1 million and $50.2 million of collaboration and license revenue under the CCX140 Agreements, respectively, compared to $1.8 million and $5.2 million during the same respective periods in 2019. As of September 30, 2020, deferred revenue under the CCX140 Agreement was $2.0 million, representing the Company’s remaining estimated performance obligation under these agreements. The following table presents the contract assets and liabilities for all of the Company’s revenue contracts as of the following dates (in thousands): September 30, December 31, 2020 2019 Contract asset: Accounts receivable $ 58 $ - Contract liability: Deferred revenue (34,631 ) (100,837 ) During the three and nine months ended September 30, 2020 Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Revenue recognized in the period from: Amount included in contract liability at the beginning of the period $ 4,967 $ 60,033 Performance obligations satisfied (or partially satisfied) in previous periods $ 1,825 $ 39,502

Government Grant

Government Grant	9 Months Ended
	Sep. 30, 2020
Government Grants [Abstract]
Government Grant	9. Government Grant In September 2019, the Company was awarded a two-year Administration to support the clinical development of avacopan in patients with the rare kidney disease complement 3 glomerulopathy. For the three and nine months ended September 30, 2020, the Company recognized $0.1 As of September 30, 2020, $44,000

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stockholders' Equity	10. Stockholders’ Equity Stock Options During the nine months ended September 30, 2020, the Company had the following activities under its equity incentive plans: Available for Grant Share s Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Balance at December 31, 2019 2,192,545 9,287,901 $ 9.44 Shares authorized 2,000,000 - Granted (1) (1,179,578 ) 934,218 49.08 Exercised (2) 92,459 (2,704,469 ) 9.61 Forfeited and expired (3) 122,135 (110,468 ) 23.90 Outstanding at September 30, 2020 3,227,561 7,407,182 $ 14.16 6.75 $ 301,653,026 Vested and expected to vest, net of estimated forfeiture at September 30, 2020 7,136,579 $ 13.70 6.67 $ 293,912,662 Exercisable at September 30, 2020 4,434,932 $ 8.46 5.49 $ 205,536,129 (1) The difference between shares granted in the number of shares available for grant and outstanding options represents the RSUs and RSAs granted for the period. (2) Shares presented as available for grant represents shares repurchased for tax withholding upon vesting of RSUs. (3 ) The difference between shares forfeited and expired in the number of shares available for grant and those outstanding represents RSUs canceled during the period. Restricted Stock During the nine months ended September 30, 2020, the activity for restricted stock is summarized as follows: Share s Weighted Average Grant-Date Fair Value Balance at December 31, 2019 399,823 $ 10.54 Granted 245,360 48.08 Vested (230,986 ) 9.98 Canceled (11,667 ) 10.95 Unvested at September 30, 2020 402,530 $ 33.74 Stock-based Compensation Total stock-based compensation expense was $5.9 million and $15.9 million Equity Follow-On Offering In June 2020, the Company completed an equity follow-on offering of 5,980,000 shares of its common stock at a sale price of $58.00 per share. The Company received net proceeds of $325.7 million, after deducting underwriting discounts, commissions and offering expenses.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Event	11 . Subsequent Event In October 2020, the Company entered into a Manufacturing and Supply Agreement with Vifor (the “Vifor Avacopan Commercial Supply Agreement”). Under the Vifor Avacopan Commercial Supply Agreement, the Company will supply and sell avacopan drug product to Vifor for commercial use outside of the United States. Vifor will purchase avacopan drug product at a certain percentage mark up to the Company’s cost of goods, in accordance with the Avacopan Agreements. Vifor’s purchase of avacopan drug product is subject to certain binding forecast periods. The Vifor Avacopan Commercial Supply Agreement will expire upon the termination of the Avacopan Agreements or under certain circumstances as specified in the agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
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 (GAAP) 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.
Concentration of Credit Risk	Concentration of Credit Risk The Company invests in a variety of financial instruments and, by its policy, limits the amount of credit exposure with any one issuer, industry or geographic area. Accounts receivable are typically unsecured and are concentrated in the pharmaceutical industry and government sector. Accordingly, the Company may be exposed to credit risk generally associated with pharmaceutical companies and government funded entities. The Company has not historically experienced any significant losses due to concentration of credit risk. Total accounts receivable consists of the following (in thousands): September 30, December 31, 2020 2019 U.S. Food and Drug Administration $ 44 $ 176 Vifor (International) Ltd., and/or its affiliates, or collectively, Vifor 58 — $ 102 $ 176
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 restricted stock awards (RSAs), 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 and nine months ended September 31, 2020 and 2019, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Three and Nine Months Ended September 30, 2020 2019 Options to purchase common stock, including purchases from contributions to ESPP 7,416 11,059 Restricted stock units 389 402 Restricted stock awards 14 41 Warrants to purchase common stock 150 150 7,969 11,652
Comprehensive Loss	Comprehensive Loss Comprehensive loss comprises net loss and other comprehensive gain (loss). For the periods presented, other comprehensive gain (loss) consists of unrealized gains (losses) on the Company’s available-for-sale securities. For the three and nine months ended September 30, 2020, there were no significant sales of investments and therefore there were no reclassifications of comprehensive loss
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standard Board issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments. The new standard replaces the incurred loss impairment methodology under the current standard with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company is required to use a forward-looking expected credit loss model for accounts receivable and other financial instruments. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The new standard became effective for the Company on January 1, 2020. The Company’s adoption on January 1, 2020 did not have a material impact on the consolidated financial statements. The Company has reviewed other recent accounting pronouncements and concluded they are either not applicable to the business or that no material effect is expected on the consolidated financial statements as a result of future adoption.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Accounts Receivable	Total accounts receivable consists of the following (in thousands): September 30, December 31, 2020 2019 U.S. Food and Drug Administration $ 44 $ 176 Vifor (International) Ltd., and/or its affiliates, or collectively, Vifor 58 — $ 102 $ 176
Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share Due to Anti-Dilutive Effect	For the three and nine months ended September 31, 2020 and 2019, the following potentially dilutive securities were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Three and Nine Months Ended September 30, 2020 2019 Options to purchase common stock, including purchases from contributions to ESPP 7,416 11,059 Restricted stock units 389 402 Restricted stock awards 14 41 Warrants to purchase common stock 150 150 7,969 11,652

Cash Equivalents, Restricted _2

Cash Equivalents, Restricted Cash and Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows (in thousands): September 30, December 31, 2020 2019 Cash and cash equivalents $ 56,177 $ 39,179 Restricted cash included in Other assets 1,080 1,080 Total cash, cash equivalents and restricted cash $ 57,257 $ 40,259
Amortized Cost and Fair Value of Cash Equivalents and Investments	The amortized cost and fair value of cash equivalents and investments at September 30, 2020 and December 31, 2019 were as follows (in thousands): September 30, 2020 Amortized Gross Unrealized Fair Cost Gains Losses Value Money market fund $ 50,473 $ — $ — $ 50,473 U.S. treasury securities 200,899 104 — 201,003 Government-sponsored agencies 12,495 2 — 12,497 Commercial paper 120,809 — — 120,809 Asset-backed securities 22,218 68 — 22,286 Corporate debt securities 72,970 109 (11 ) 73,068 Total available-for-sale securities $ 479,864 $ 283 $ (11 ) $ 480,136 Classified as: Cash equivalents $ 50,473 Short-term investments 415,207 Long-term investments 14,456 Total available-for-sale securities $ 480,136 December 31, 2019 Amortized Gross Unrealized Fair Cost Gains Losses Value Money market fund $ 30,353 $ — $ — $ 30,353 U.S. treasury securities 40,245 47 — 40,292 Commercial paper 12,429 — — 12,429 Asset-backed securities 25,436 50 — 25,486 Corporate debt securities 84,605 225 (4 ) 84,826 Total available-for-sale securities $ 193,068 $ 322 $ (4 ) $ 193,386 Classified as: Cash equivalents $ 30,325 Short-term investments 133,607 Long-term investments 29,454 Total available-for-sale securities $ 193,386

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements of Company's Financial Assets	The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows as of September 30, 2020 and December 31, 2019 (in thousands): September 30, 2020 Description Level 1 Level 2 Level 3 Total Money market fund $ 50,473 $ — $ — $ 50,473 U.S. treasury securities — 201,003 — 201,003 Government-sponsored agencies — 12,497 — 12,497 Commercial paper — 120,809 — 120,809 Asset-backed securities — 22,286 — 22,286 Corporate debt securities — 73,068 — 73,068 Total assets $ 50,473 $ 429,663 $ — $ 480,136 December 31, 2019 Description Level 1 Level 2 Level 3 Total Money market fund $ 30,353 $ — $ — $ 30,353 U.S. treasury securities — 40,292 — 40,292 Commercial paper — 12,429 — 12,429 Asset-backed securities — 25,486 — 25,486 Corporate debt securities — 84,826 — 84,826 Total assets $ 30,353 $ 163,033 $ — $ 193,386
Summary of Carrying Amount And Estimated Fair Value of Financial Instruments	The carrying amount and estimated fair value of financial instruments not recorded at fair value at September 30, 2020 and December 31, 2019 were as follows (in thousands): September 30, December 31, 2020 2019 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Long-term debt, net (1) $ 24,326 $ 25,153 $ 19,786 $ 20,253 (1) Carrying amounts of long-term debt were net of unamortized debt discounts of $674 and $214 as of September 30, 2020 and December 31, 2019, respectively.

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Payables And Accruals [Abstract]
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consist of the following (in thousands): September 30, December 31, 2020 2019 Research and development related $ 10,988 $ 13,100 Compensation related 4,337 3,608 Consulting and professional services 1,397 1,094 Current portion of operating lease liability 1,253 1,503 Other 963 501 $ 18,938 $ 19,806

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Future Minimum Principal Payments Related to Restated Credit Facility	Future minimum principal payments, which exclude the end of term charge, related to the Restated Credit Facility as of September 30, 2020 are as follows (in thousands): Amounts Year ending December 31: Remaining of fiscal year 2020 $ — 2021 6,389 2022 14,666 2023 3,353 2024 592 Total minimum payments 25,000 Less: amount representing debt discount (674 ) Present value of remaining debt payments 24,326 Less: current portion (3,066 ) Non-current portion $ 21,260

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule of Balance Sheet Classification of the Company's Operating Lease Assets and Liabilities	The balance sheet classification of the Company’s operating lease assets and liabilities was as follows (in thousands): September 30, December 31, 2020 2019 Balance Sheet Assets: Operating lease right-of-use assets $ 27,667 $ 1,704 Liabilities: Operating lease liabilities: Accrued and other current liabilities (1) $ 1,253 $ 1,503 Non-current lease liabilities 34,436 566 (1) Includes current portion of operating lease liabilities as of September 30, 2020 and December 31, 2019.
Schedule of Operating Expenses in the Company's Condensed Consolidated Statements of Operations	The component of lease costs, which was included in operating expenses in the Company’s Condensed Consolidated Statements of Operations, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost $ 1,743 $ 351 $ 2,905 $ 943
Schedule of Future Minimum Lease Payments Under all Noncancelable Operating Leases	Future minimum lease payments under all noncancelable operating leases as of September 30, 2020 are as follows (in thousands): Operating leases Year ending December 31: Remaining of fiscal year 2020 $ 434 2021 5,210 2022 7,316 2023 7,516 2024 7,721 Thereafter 52,518 Total minimum payments 80,715 Less: interest (31,472 ) Less: future tenant improvement reimbursements (13,554 ) Present value of lease liabilities $ 35,689

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Schedule of Contract Assets and Liabilities and Changes in Contract Balances	The following table presents the contract assets and liabilities for all of the Company’s revenue contracts as of the following dates (in thousands): September 30, December 31, 2020 2019 Contract asset: Accounts receivable $ 58 $ - Contract liability: Deferred revenue (34,631 ) (100,837 ) During the three and nine months ended September 30, 2020 Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Revenue recognized in the period from: Amount included in contract liability at the beginning of the period $ 4,967 $ 60,033 Performance obligations satisfied (or partially satisfied) in previous periods $ 1,825 $ 39,502

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity under its Stock Plans	During the nine months ended September 30, 2020, the Company had the following activities under its equity incentive plans: Available for Grant Share s Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Balance at December 31, 2019 2,192,545 9,287,901 $ 9.44 Shares authorized 2,000,000 - Granted (1) (1,179,578 ) 934,218 49.08 Exercised (2) 92,459 (2,704,469 ) 9.61 Forfeited and expired (3) 122,135 (110,468 ) 23.90 Outstanding at September 30, 2020 3,227,561 7,407,182 $ 14.16 6.75 $ 301,653,026 Vested and expected to vest, net of estimated forfeiture at September 30, 2020 7,136,579 $ 13.70 6.67 $ 293,912,662 Exercisable at September 30, 2020 4,434,932 $ 8.46 5.49 $ 205,536,129 (1) The difference between shares granted in the number of shares available for grant and outstanding options represents the RSUs and RSAs granted for the period. (2) Shares presented as available for grant represents shares repurchased for tax withholding upon vesting of RSUs. (3 ) The difference between shares forfeited and expired in the number of shares available for grant and those outstanding represents RSUs canceled during the period.
Restricted Stock Activity	During the nine months ended September 30, 2020, the activity for restricted stock is summarized as follows: Share s Weighted Average Grant-Date Fair Value Balance at December 31, 2019 399,823 $ 10.54 Granted 245,360 48.08 Vested (230,986 ) 9.98 Canceled (11,667 ) 10.95 Unvested at September 30, 2020 402,530 $ 33.74

Description of Business - Addit

Description of Business - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of Operating Segment	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 102	$ 176
Vifor [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	58	0
U.S. Food and Drug Administration [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 44	$ 176

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share Due to Anti-Dilutive Effect (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	7,969	11,652	7,969	11,652
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	7,416	11,059	7,416	11,059
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	389	402	389	402
Restricted Stock Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	14	41	14	41
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	150	150	150

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Accounting Policies [Abstract]
Reclassification adjustment from accumulated other comprehensive loss for unrealized gain (loss) realized upon the sale of available-for-sale securities	$ 0	$ 0

Cash Equivalents, Restricted _3

Cash Equivalents, Restricted Cash and Investments - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 56,177	$ 39,179
Total cash, cash equivalents and restricted cash	57,257	40,259	$ 37,002	$ 28,088
Other Assets [Member]
Restricted cash included in Other assets	$ 1,080	$ 1,080

Cash Equivalents, Restricted _4

Cash Equivalents, Restricted Cash and Investments - Amortized Cost and Fair Value of Cash Equivalents and Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 479,864	$ 193,068
Gross Unrealized Gains	283	322
Gross Unrealized Losses	(11)	(4)
Available-for-sale Securities	480,136	193,386
Money Market Fund [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	50,473	30,353
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Available-for-sale Securities	50,473	30,353
U.S. Treasury Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	200,899	40,245
Gross Unrealized Gains	104	47
Gross Unrealized Losses	0	0
Available-for-sale Securities	201,003	40,292
Government-Sponsored Agencies [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	12,495
Gross Unrealized Gains	2
Gross Unrealized Losses	0
Available-for-sale Securities	12,497
Commercial Paper [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	120,809	12,429
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Available-for-sale Securities	120,809	12,429
Asset-backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	22,218	25,436
Gross Unrealized Gains	68	50
Gross Unrealized Losses	0	0
Available-for-sale Securities	22,286	25,486
Corporate Debt Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	72,970	84,605
Gross Unrealized Gains	109	225
Gross Unrealized Losses	(11)	(4)
Available-for-sale Securities	$ 73,068	$ 84,826

Cash Equivalents, Restricted _5

Cash Equivalents, Restricted Cash and Investments - Amortized Cost and Fair Value of Cash Equivalents and Investments 2 (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
Cash equivalents	$ 50,473	$ 30,325
Short-term investments	415,207	133,607
Long-term investments	14,456	29,454
Total available-for-sale securities	$ 480,136	$ 193,386

Cash Equivalents, Restricted _6

Cash Equivalents, Restricted Cash and Investments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020USD ($)Investment	Dec. 31, 2019USD ($)
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
Cash	$ 5,700,000	$ 8,900,000
Number of available-for-sale securities in a continuous unrealized loss position for more than 12 months | Investment	0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements of Company's Financial Assets (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 480,136	$ 193,386
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	50,473	30,353
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	429,663	163,033
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Money Market Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	50,473	30,353
Money Market Fund [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	50,473	30,353
Money Market Fund [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Money Market Fund [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	201,003	40,292
U.S. Treasury Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
U.S. Treasury Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	201,003	40,292
U.S. Treasury Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Government-Sponsored Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	12,497
Government-Sponsored Agencies [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0
Government-Sponsored Agencies [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	12,497
Government-Sponsored Agencies [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	120,809	12,429
Commercial Paper [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Commercial Paper [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	120,809	12,429
Commercial Paper [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	22,286	25,486
Asset-backed Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Asset-backed Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	22,286	25,486
Asset-backed Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	73,068	84,826
Corporate Debt Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Corporate Debt Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	73,068	84,826
Corporate Debt Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 0	$ 0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Carrying Amount and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 24,326
Term Loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	24,326	$ 19,786
Estimated Fair Value	$ 25,153	$ 20,253

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Carrying Amount and Estimated Fair Value of Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized debt discounts	$ 674
Term Loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized debt discounts	$ 674	$ 214

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Research and development related	$ 10,988	$ 13,100
Compensation related	4,337	3,608
Consulting and professional services	1,397	1,094
Current portion of operating lease liability	1,253	1,503
Other	963	501
Accrued liabilities	$ 18,938	$ 19,806

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail)	Mar. 31, 2020	Jan. 08, 2020USD ($)Tranche	Dec. 28, 2017USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Line of credit facility, advance amount				$ 20,000,000
Line of credit facility, interest rate			8.05%
Borrowings outstanding				24,326,000
Discount on borrowings				$ 674,000
Hercules Capital Inc [Member]
Debt Instrument [Line Items]
Purchase of common stock		$ 1,000,000
Tranche One [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate		8.50%
Term Loan [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 50,000,000
Line of credit facility, interest rate				8.05%
Line of credit facility, interest rate description				As of September 30, 2020, the Company had borrowed $20.0 million under the Credit Facility, with an interest rate of 8.05% per annum and the remaining available amount had expired.  Advances under the Credit Facility bear an interest rate equal to the greater of either (i) 8.05% plus the prime rate as reported from time to time in The Wall Street Journal (the Prime Rate) minus 4.75%, and (ii) 8.05%. The Company will make interest-only payments through July 1, 2021, and will then repay the principal balance and interest on the advances in equal monthly installments continuing through December 1, 2022. The Company will pay an end of term charge of $1.3 million.
Line of credit facility, maturity date				Dec. 1, 2022
Payment of end term charge				$ 1,300,000
Loan commitment charge, percentage		1.00%
Borrowings outstanding				24,326,000	$ 19,786,000
Discount on borrowings				$ 674,000	$ 214,000
Term Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Loan commitment charge		$ 162,500
Aggregate proceeds to be received from equity offering		30,000,000
Term Loan [Member] | Maximum [Member] | Hercules Capital Inc [Member]
Debt Instrument [Line Items]
Amount of participation in equity financing		3,000,000
Term Loan [Member] | Wall Street Journal Prime [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate				4.75%
Term Loan Restated [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 100,000,000
Line of credit facility, interest rate description				In addition, the Company may prepay advances under the Amended Loan Agreement, in whole or in part, at any time, subject to a prepayment charge that ranges from 1.0% to 2.0%, depending on the timing of the prepayment. The Amended Loan Agreement is secured by substantially all of the Company’s assets, excluding intellectual property. The Amended Loan Agreement also includes customary loan covenants, with which the Company was in compliance for all periods presented.
Number of tranches | Tranche		3
Term Loan Restated [Member] | Minimum [Member]
Debt Instrument [Line Items]
Loan commitment charge		$ 520,000
Term Loan Restated [Member] | Tranche One [Member]
Debt Instrument [Line Items]
Line of credit facility, advance amount				$ 5,000,000
Line of credit facility, interest rate	8.50%
Line of credit facility, interest rate description				Under the Restated Credit Facility, the Company had borrowed $5.0 million from the first tranche with an interest rate of 8.50% per annum as of September 30, 2020.  Advances under the Restated Credit Facility bear an initial interest rate equal to the greater of either (i) 8.50% plus the Prime Rate minus 5.25%, and (ii) 8.50%, which may be reduced upon the Company achieving certain cumulative net avacopan revenue levels. For advances under the Restated Credit Facility, the Company will make interest only payments through September 1, 2022 and will then repay the principal balance and interest on the advances in equal monthly installments through February 1, 2024. Upon satisfaction of certain conditions, the interest-only payment period and the principal balance repayment period may be extended.  In addition, the Company will pay an end of term charge of 7.15% of the aggregate amount of the advances under the Restated Credit Facility.
Line of credit facility, maturity date				Feb. 1, 2024
End of term charge advances, percentage				7.15%
Term Loan Restated [Member] | Wall Street Journal Prime [Member] | Tranche One [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate				5.25%
Through December 15, 2020 [Member] | Tranche One [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		40,000,000
Through December 15, 2020 [Member] | Tranche One [Member] | Avacopan New Drug Application
Debt Instrument [Line Items]
Line of credit facility, capacity available for specific purpose other than for trade purchases		20,000,000
Through December 15, 2021 [Member] | Tranche Two [Member] | Avacopan New Drug Application
Debt Instrument [Line Items]
Restated credit facility, maximum borrowing capacity		30,000,000
Through December 15, 2022 [Member] | Tranche Three [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 30,000,000

Long-term Debt - Schedule of Fu

Long-term Debt - Schedule of Future Minimum Principal Payments Related to Restated Credit Facility (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Remaining of fiscal year 2020	$ 0
2021	6,389
2022	14,666
2023	3,353
2024	592
Total minimum payments	25,000
Less: amount representing debt discount	(674)
Long-term debt, net	24,326
Less: current portion	(3,066)	$ 0
Long-term debt, Non-current portion	$ 21,260	$ 19,786

Commitments - Additional Inform

Commitments - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)ft²	Sep. 30, 2019USD ($)
Operating Leased Assets [Line Items]
Expiration date	2031-02
Initial annual base rent expense	$ 6.5
Incremental percentage of annual lease rent	3.00%
Operating lease contract	10 years
Tenant improvement allowance	$ 15.4
Proceeds from Additional Tenant Allowance	$ 4.8
Operating lease, option to extend	option to extend the lease for five years
Additional tenant improvement allowance	7.00%
Operating lease new facility commence	2020-06
Operating Lease, Payments	$ 1.2	$ 0.9
Operating Lease, Weighted Average Remaining Lease Term	10 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	9.50%
Letter of Credit [Member]
Operating Leased Assets [Line Items]
Security deposit	$ 1.1
San Carlos California [Member]
Operating Leased Assets [Line Items]
Area of Land | ft²	96,463
Discounted lease	Following a six month period of discounted rent
Third Amendment May 2019 [Member]
Operating Leased Assets [Line Items]
Expiration date	2021-04

Commitments - Schedule of Balan

Commitments - Schedule of Balance Sheet Classification of the Company's Operating Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020		Dec. 31, 2019
Operating lease right-of-use assets	$ 27,667		$ 1,704
Operating lease liabilities:
Accrued and other current liabilities	1,253		1,503
Non-current lease liabilities	34,436		566
Accrued And Other Liabilities Current [Member]
Operating lease liabilities:
Accrued and other current liabilities	$ 1,253	[1]	$ 1,503
[1]	Includes current portion of operating lease liabilities as of September 30, 2020 and December 31, 2019.

Commitments - Schedule of Opera

Commitments - Schedule of Operating Expenses in the Company's Condensed Consolidated Statements of Operations (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Operating lease cost	$ 1,743	$ 351	$ 2,905	$ 943

Commitments - Schedule of Futur

Commitments - Schedule of Future Minimum Lease Payments Under all Noncancelable Operating Leases (Details 2) $ in Thousands	Sep. 30, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
Remaining of fiscal year 2020	$ 434
2021	5,210
2022	7,316
2023	7,516
2024	7,721
Thereafter	52,518
Total minimum payments	80,715
Less: interest	(31,472)
Less: future tenant improvement reimbursements	(13,554)
Present value of lease liabilities	$ 35,689

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	Dec. 28, 2017	Jun. 30, 2018	Dec. 31, 2017	Feb. 28, 2017	May 31, 2016	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2017	May 09, 2016
Related Party Transaction [Line Items]
Non refundable upfront payments received					$ 85,000,000
Non refundable upfront payment received in equity investment, shares					3,333,333
Performance obligations satisfied (or partially satisfied) in previous periods						$ 1,825,000		$ 39,502,000
Transaction price											$ 78,000,000
Upfront payments received					$ 78,000,000
Non refundable upfront payments allocated for issuance of common stock					$ 7,000,000
Issuance of common stock, per share value					$ 2.10
Collaboration and license revenue from related party						5,027,000	$ 10,581,000	60,165,000	$ 26,081,000
Avacopan Agreement [Member]
Related Party Transaction [Line Items]
Non refundable upfront payments received					$ 85,000,000
Non refundable upfront payment received in cash					60,000,000
Non refundable upfront payment received in equity investment					$ 25,000,000
Share price of common stock in equity investment					$ 7.50
Non refundable upfront payment received in equity investment, shares					3,333,333
Performance obligations satisfied (or partially satisfied) in previous periods			$ 50,000,000
Transaction price						153,000,000		153,000,000
Collaboration and license revenue from related party						2,900,000	8,800,000	9,900,000	20,900,000
Avacopan Agreement [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Potential milestone payments receivable								460,000,000
Avacopan Amendment [Member]
Related Party Transaction [Line Items]
Non refundable upfront payments received				$ 20,000,000
Upfront cash commitment				$ 20,000,000
Avacopan Letter Agreement [Member]
Related Party Transaction [Line Items]
Non refundable payment for expanded rights	$ 5,000,000	$ 5,000,000
CCX140 Agreement [Member]
Related Party Transaction [Line Items]
Non refundable payment for expanded rights		5,000,000						5,000,000		$ 50,000,000
Performance obligations satisfied (or partially satisfied) in previous periods								2,000,000
Transaction price						66,500,000		66,500,000
Upfront payments received								50,000,000
Collaboration and license revenue from related party						2,100,000	$ 1,800,000	$ 50,200,000	$ 5,200,000
Non refundable upfront commitment		$ 11,500,000
Deferred Revenue, Recognized						46,700,000
Other current liabilities to related party						6,200,000
Development Funding, Reduction						$ 47,200,000
Vifor [Member]
Related Party Transaction [Line Items]
Purchase of Common stock, shares								9,194,085
Vifor [Member] | CCX140 Agreement [Member]
Related Party Transaction [Line Items]
Development funding								$ 11,500,000

Related-Party Transactions - Sc

Related-Party Transactions - Schedule of Contract Assets and Liabilities and Changes in Contract Balances (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts Receivable Net [Member]
Contract asset:
Contract asset	$ 58	$ 0
Deferred Revenue [Member]
Contract liability:
Contract liability	$ (34,631)	$ (100,837)

Related-Party Transactions - _2

Related-Party Transactions - Schedule of Contract Assets and Liabilities Changes (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Related Party Transactions [Abstract]
Amount included in contract liability at the beginning of the period	$ 4,967	$ 60,033
Performance obligations satisfied (or partially satisfied) in previous periods	$ 1,825	$ 39,502

Government Grant - Additional I

Government Grant - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2020
Government Grant [Member]
Grant revenue		$ 0.1	$ 0.4
Accounts Receivable, Related Parties		$ 44,000	$ 44,000
U.S. Food and Drug Administration [Member]
Grant Received	$ 1
Grant Term	2 years

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Option Activity under its Stock Plans (Detail)	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares Available for Grant, Outstanding Beginning Balance	2,192,545
Available for Grant, Shares authorized	2,000,000
Shares Available for Grant, Granted	(1,179,578)
Shares Available for Grant, Exercised	92,459
Shares Available for Grant, Forfeited and expired	122,135
Shares Available for Grant, Outstanding Ending Balance	3,227,561
Shares, Options Outstanding, Beginning Balance	9,287,901
Shares, Options Outstanding, Granted	934,218
Shares, Options Outstanding, Exercised	(2,704,469)
Shares Available for Grant, Forfeited and expired	(110,468)
Shares Available for Grant, Outstanding Ending Balance	7,407,182
Shares, Vested and expected to vest, net of estimated forfeiture at June 30, 2020	7,136,579
Shares, Exercisable at June 30, 2020	4,434,932
Weighted Average Exercise Price, Options Outstanding, Beginning Balance | $ / shares	$ 9.44
Weighted Average Exercise Price, Options Outstanding, Granted | $ / shares	49.08
Weighted Average Exercise Price, Options Outstanding, Exercised | $ / shares	9.61
Weighted Average Exercise Price, Options Outstanding, Forfeited and expired | $ / shares	23.90
Weighted Average Exercise Price, Options Outstanding, Ending Balance | $ / shares	14.16
Weighted Average Exercise Price, Vested and expected to vest, net of estimated forfeiture at June 30, 2020 | $ / shares	13.70
Weighted Average Exercise Price, Exercisable at June 30, 2020 | $ / shares	$ 8.46
Options Outstanding, Weighted Average Remaining Contractual Term	6 years 9 months
Weighted Average Remaining Contractual Term, Vested and expected to vest, net of estimated forfeiture at June 30, 2020	6 years 8 months 1 day
Weighted Average Remaining Contractual Term, Exercisable at June30, 2020	5 years 5 months 26 days
Aggregate Intrinsic Value, Outstanding, Ending Balance | $	$ 301,653,026
Aggregate Intrinsic Value, Vested and expected to vest, net of estimated forfeiture at June 30, 2020 | $	293,912,662
Weighted Average Remaining Contractual Term, Exercisable at June 30, 2020 | $	$ 205,536,129

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Activity (Detail) - Restricted Stocks [Member]	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Unvested, Beginning Balance | shares	399,823
Shares, Granted | shares	245,360
Shares, Vested | shares	(230,986)
Shares, Canceled | shares	(11,667)
Shares, Unvested, Ending Balance | shares	402,530
Weighted Average Grant-Date Fair Value, Unvested, Beginning Balance | $ / shares	$ 10.54
Weighted Average Grant-Date Fair Value, Granted | $ / shares	48.08
Weighted Average Grant-Date Fair Value, Vested | $ / shares	9.98
Weighted Average Grant-Date Fair Value, Canceled | $ / shares	10.95
Weighted Average Grant-Date Fair Value, Unvested, Ending Balance | $ / shares	$ 33.74

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options - Additional Information (Detail) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expenses	$ 7,700,000			$ 7,700,000
Unrecognized compensation expense, weighted-average period	1 year 10 months 20 days
Proceeds from issuance of common stock				325,654,000	$ 73,276,000
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expenses	$ 107,000			107,000
Unrecognized compensation expense, weighted-average period	1 month 13 days
Follow On Equity Public Offering [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock under Equity Distribution Agreement, net of issuance costs, shares		5,980,000
Common stock issued per share		$ 58
Proceeds from issuance of common stock		$ 325,700,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 5,900,000		$ 2,900,000	15,900,000	$ 8,500,000
Unrecognized compensation expenses	$ 35,700,000			$ 35,700,000
Unrecognized compensation expense, weighted-average period	2 years 6 months 7 days