Aldeyra Therapeutics (ALDX) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 09, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	ALDX
Entity Registrant Name	ALDEYRA THERAPEUTICS, INC.
Entity Central Index Key	1,341,235
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		19,117,676

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 33,103,849	$ 12,015,061
Marketable securities	14,807,166	12,897,584
Prepaid expenses and other current assets	1,141,727	218,682
Total current assets	49,052,742	25,131,327
Deferred offering costs	138,661
Fixed assets, net	38,017	56,352
Total assets	49,229,420	25,187,679
Current liabilities:
Accounts payable	485,267	275,441
Accrued expenses	1,507,458	1,946,251
Current portion of credit facility	426,505	77,546
Total current liabilities	2,419,230	2,299,238
Credit facility, net of current portion and debt discount	905,253	1,238,624
Total liabilities	3,324,483	3,537,862
Commitments and contingencies (Note 11)
Stockholders' equity:
Preferred stock, $0.001 par value, 15,000,000 shares authorized, none issued and outstanding
Common stock, voting, $0.001 par value; 150,000,000 authorized and 19,117,676 and 12,576,325 shares issued and outstanding, respectively	19,118	12,576
Additional paid-in capital	138,574,234	98,938,446
Accumulated other comprehensive income (loss)	(1,002)	129
Accumulated deficit	(92,687,413)	(77,301,334)
Total stockholders' equity	45,904,937	21,649,817
Total liabilities and stockholders' equity	$ 49,229,420	$ 25,187,679

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	15,000,000	15,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	19,117,676	12,576,325
Common stock, shares outstanding	19,117,676	12,576,325

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating expenses:
Research and development	$ 3,539,368	$ 3,379,711	$ 10,757,279	$ 9,728,494
General and administrative	1,475,904	1,396,734	4,684,574	4,314,483
Loss from operations	(5,015,272)	(4,776,445)	(15,441,853)	(14,042,977)
Other income (expense):
Interest income	56,651	27,792	136,652	74,463
Interest expense	(27,578)	(26,654)	(80,878)	(79,507)
Total other income (expense), net	29,073	1,138	55,774	(5,044)
Net loss	$ (4,986,199)	$ (4,775,307)	$ (15,386,079)	$ (14,048,021)
Net loss per share - basic and diluted	$ (0.32)	$ (0.38)	$ (1.04)	$ (1.28)
Weighted average common shares outstanding - basic and diluted	15,581,426	12,474,609	14,844,914	10,942,127

Statements of Comprehensive Los

Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net loss	$ (4,986,199)	$ (4,775,307)	$ (15,386,079)	$ (14,048,021)
Other comprehensive income/(loss):
Unrealized gain/(loss) on marketable securities	3,638	1,825	(1,131)	14,889
Total other comprehensive income/(loss)	3,638	1,825	(1,131)	14,889
Comprehensive loss	$ (4,982,561)	$ (4,773,482)	$ (15,387,218)	$ (14,033,132)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (15,386,079)	$ (14,048,021)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	2,122,669	2,159,714
Amortization of debt discount - non-cash interest expense	15,588	20,931
Net amortization of premium on debt securities available for sale	165,562	182,963
Depreciation	29,927	26,454
Change in assets and liabilities:
Prepaid expenses and other current assets	(923,045)	247,346
Accounts payable	209,826	(117,600)
Accrued expenses	(438,793)	290,163
Net cash used in operating activities	(14,204,345)	(11,238,050)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of property and equipment	(11,592)	(11,810)
Purchases of marketable securities	(20,198,275)	(15,378,371)
Sales of marketable securities	18,122,000	13,845,000
Net cash used in investing activities	(2,087,867)	(1,545,181)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	37,474,106	12,702,873
Proceeds from issuance of common stock in Employee Stock Purchase Plan	45,555
Deferred offering costs paid in cash	(138,661)
Net cash provided by financing activities	37,381,000	12,702,873
NET (DECREASE)/INCREASE IN CASH	21,088,788	(80,358)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	12,015,061	14,648,866
CASH AND CASH EQUIVALENTS, END OF PERIOD	33,103,849	14,568,508
Cash paid during the period for:
Interest	64,024	58,722
Income taxes	$ 0	$ 0

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	1. NATURE OF BUSINESS Aldeyra Therapeutics, Inc. (the Company or Aldeyra), a Delaware corporation, is developing new products for inflammation, inborn errors of metabolism, and other diseases that are thought to be related to endogenously generated toxic and pro-inflammatory The Company’s principal activities to date include raising capital and research and development activities.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	2. BASIS OF PRESENTATION The accompanying interim unaudited condensed financial statements and related disclosures are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and the instructions to Form 10-Q S-X. 10-K In February 2017, the Company closed an underwritten public offering in which it sold, an aggregate of 2,555,555 shares of common stock, including 333,333 shares sold in connection with the exercise in full by the underwriters of their option to purchase additional shares. The net proceeds of the offering, including the full exercise of the option, were approximately $10.6 million, after deducting underwriting discounts, commissions, and other offering expenses payable by Aldeyra. In June 2017, the Company entered into a Controlled Equity Offering SM sales agreement (Sales Agreement) with Cantor Fitzgerald & Co. (Cantor), as sales agent, pursuant to which the Company may offer and sell, from time to time through Cantor, shares of the Company’s common stock, par value $0.001 per share, providing for aggregate sales proceeds of up to $20,000,000. Under the Sales Agreement, Cantor may sell such shares of common stock in sales deemed to be an “at the market offering” (ATM) as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, with the Company setting the parameters for the sale of shares thereunder, including the number of shares to be issued, the time period during which sales are requested to be made, any limits on the number of shares that may be sold in any one trading day and any minimum price below which sales may not be made. The Sales Agreement provides that Cantor will be entitled to compensation for its services equal to 3.0% of the gross proceeds from the sale of shares sold pursuant to the Sales Agreement. The Company has no obligation to sell any shares under the Sales Agreement, and may at any time suspend solicitations and offers under the Sales Agreement. No shares have been sold under the Sales Agreement as of September 30, 2017. In September 2017, the Company closed an underwritten public offering in which it sold, an aggregate of 3,967,500 shares of common stock, including 517,500 shares sold in connection with the exercise in full by the underwriters of their option to purchase additional shares. The net proceeds of the offering, including the full exercise of the option, were approximately $26.9 million, after deducting underwriting discounts, commissions, and other offering expenses payable by Aldeyra. The Company’s management believes that its currently available resources, including amounts potentially available under its credit facility (Note 7), will provide sufficient funds to enable the Company to meet its expected obligations for at least the next 24 months based on the Company’s current business plan. However, these amounts will not be sufficient for the Company to develop and commercialize its product candidates or conduct any substantial, additional development requirements requested by the U.S. Food and Drug Administration (FDA). Additional funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to secure additional capital, or meet financial covenants that could be implemented under the Company’s term loans in certain circumstances, it will be required to significantly decrease the amount of planned expenditures, and may be required to cease operations. Curtailment of operations would cause significant delays in the Company’s efforts to develop and introduce its products to market, which is critical to the realization of its business plan and the future operations of the Company. Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates and assumptions. Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09 2016-09), ASU 2016-09 In February 2016, the FASB issued ASU No. 2016-02 2016-02), 2016-02 right-of-use ASU 2016-02 In November 2015, the FASB issued ASU No. 2015-17, 2015-17). 2015-17 tax-paying 2015-17. ASU 2015-17 In April 2015, the FASB issued ASU No. 2015-03, 2015-03). 2015-03 ASU 2015-03 In May 2014, the FASB issued ASU No. 2014-09, ASU 2014-09

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Loss Per Share	3. NET LOSS PER SHARE For the three and nine months ended September 30, 2017 and 2016, diluted weighted average common shares outstanding is equal to basic weighted average common shares due to the Company’s net loss position. The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding, because such securities had an antidilutive impact: Three Months ended September 30, Nine Months ended September 30, 2017 2016 2017 2016 Options to purchase common stock 2,236,857 1,654,482 2,236,857 1,654,482 Warrants to purchase common stock 1,384,608 1,384,608 1,384,608 1,384,608 Restricted stock units 157,128 27,096 157,128 27,096 Total of common stock equivalents 3,778,593 3,066,186 3,778,593 3,066,186

Cash, Cash Equivalents and Mark

Cash, Cash Equivalents and Marketable Securities	9 Months Ended
	Sep. 30, 2017
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Marketable Securities	4. CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES At September 30, 2017, cash, cash equivalents and marketable securities were comprised of: Carrying Amount Unrecognized Gain Unrecognized Loss Estimated Fair Value Cash Equivalents Current Marketable Securities Cash $ 1,044,417 $ — $ — $ 1,044,417 $ 1,044,417 $ — Money market funds 12,056,919 — — 12,056,919 12,056,919 — Reverse repurchase agreements 19,500,000 — — 19,500,000 19,500,000 — U.S. government agency securities 15,310,681 166 (1,168 ) 15,309,679 502,513 14,807,166 Available for Sale(1) 34,810,681 166 (1,168 ) 34,809,679 20,002,513 14,807,166 Total cash, cash equivalents and current marketable securities $ 33,103,849 $ 14,807,166 (1) Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income. Fair value of government securities and obligations and corporate debt securities were estimated using quoted broker prices and significant other observable inputs. The contractual maturities of all available for sale securities were less than one year at September 30, 2017.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. FAIR VALUE MEASUREMENTS Financial instruments, including cash and accounts payable, are carried in the financial statements at amounts that approximate their fair value based on the short maturities of those instruments. The carrying amount of the Company’s term loans under its credit facility approximates market rates currently available to the Company. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value are performed in a manner to maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820, Fair Value Measurements Level 1 Level 2 Level 3 There were no liabilities measured at fair value at September 30, 2017 or December 31, 2016. The following table presents information about the Company’s assets measured at fair value at September 30, 2017 and December 31, 2016: September 30, 2017 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 12,056,919 $ — $ — $ 12,056,919 Reverse repurchase agreements — 19,500,000 — 19,500,000 U.S. government agency securities — 15,309,679 — 15,309,679 Total assets at fair value $ 12,056,919 $ 34,809,679 $ — $ 46,866,598 December 31, 2016 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 70,212 $ — $ — $ 70,212 Reverse repurchase agreements — 11,550,000 — 11,550,000 U.S. government agency securities — 12,897,584 — 12,897,584 Total assets at fair value $ 70,212 $ 24,447,584 $ — $ 24,517,796

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses	6. ACCRUED EXPENSES Accrued expenses at September 30, 2017 and December 31, 2016 were: September 30, December 31, 2017 2016 Accrued compensation $ 645,871 $ 983,449 Accrued research and development 680,637 913,838 Accrued general & administrative 180,950 48,964 Accrued expenses $ 1,507,458 $ 1,946,251

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Credit Facility	7. CREDIT FACILITY The Company’s long-term debt obligation consists of amounts the Company is obligated to repay under its credit facility with Pacific Western (Credit Facility), of which $1.4 million was outstanding as of September 30, 2017. The Company entered into the Credit Facility in April 2012 and it has been subsequently amended to make term loans in a principal amount of up to $5.0 million available to the Company with proceeds to be used first to refinance outstanding loans from Pacific Western, second to fund expenses related to its clinical trials, and the remainder for general working capital purposes. The term loans are to be made available upon the following terms: (i) $2.0 million was made available on November 10, 2014; and (ii) $3.0 million (the Tranche B Loan) which was made available to the Company in May 2016 following the satisfaction of certain conditions, including receipt of positive phase 2 data in noninfectious anterior uveitis. Each term loan accrues interest from its date of issue at a variable annual interest rate equal to the greater of 2.0% plus prime or 5.25% per annum. In November 2016, we amended our Credit Facility such that any term loan the Company draws is payable as interest-only prior to November 2017 and thereafter is payable in monthly installments of principal plus accrued interest over 36 months. The Credit Facility is collateralized by substantially all of the Company’s assets, including its intellectual property. In conjunction with obtaining and amending the Credit Facility, the Company issued warrants to the bank with an aggregate fair value of $266,000, which were recorded as a debt discount. These discounts are being amortized using the effective interest method through the current maturity date of the Credit Facility in November 2018. All amendments to the credit facility were determined to be modifications in accordance with ASC 470, Debt At September 30, 2017 and December 31, 2016, the Credit Facility is shown net of a remaining debt discount of $64,000 and $80,000, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	8. INCOME TAXES No provision for federal and state taxes has been recorded as the Company has incurred losses since inception for tax purposes. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. In assessing the realizability of net deferred taxes in accordance with ASC 740, Income Taxes Under Section 382 of the Internal Revenue Code of 1986, as amended (Code), a corporation that undergoes an “ownership change” is subject to limitations on its ability to utilize its pre-change “Built-In-Gain” All tax years are open for examination by the taxing authorities for both federal and state purposes. The Company accounts for uncertain tax positions pursuant to ASC 740 which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes. Management is not aware of any uncertain tax positions.

Stock Incentive Plan

Stock Incentive Plan	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plan	9. STOCK INCENTIVE PLAN The Company has three equity incentive plans. One was adopted in 2004 (2004 Plan) and provided for the granting of stock options and restricted stock awards and generally prescribed a contractual term of seven years. The 2004 Plan terminated in August 2010. However, grants made under the 2004 Plan are still governed by that plan. As of September 30, 2017, options to purchase 23,954 shares of common stock at a weighted average exercise price of $3.24 per share remained outstanding under the 2004 Plan. The Company approved the 2010 Employee, Director and Consultant Equity Incentive Plan (2010 Plan) in September 2010 to replace the 2004 Plan. The 2010 Plan provided for the granting of stock options and restricted stock awards. The 2010 Plan terminated in May 2014 upon the initial public offering (Initial Public Offering). However, grants made under the 2010 Plan are still governed by that plan. As of September 30, 2017, options to purchase 413,130 shares of common stock at a weighted average exercise price of $1.58 per share remained outstanding under the 2010 Plan. The Company approved the 2013 Equity Incentive Plan (2013 Plan) in October 2013. The 2013 Plan became effective immediately on adoption although no awards were to be made under it until the effective date of the Registration Statement for the Initial Public Offering. The 2013 Plan provides for the granting of stock options, restricted stock, stock appreciation rights, stock units, and performance cash awards to certain employees, members of the board of directors and consultants of the Company. As of September 30, 2017, the number of shares of common stock authorized for issuance in connection with the 2013 Plan was 2,761,293. On January 1 of each year the aggregate number of common shares that may be issued under the 2013 Plan shall automatically increase by such a number of shares equal to the least of (a) 7% of the total number of common shares outstanding on the last calendar day of the prior fiscal year, (b) subject to adjustment for certain corporate transactions, 1,000,000 common shares, or (c) a number of common shares determined by the Company’s board of directors. As of September 30, 2017, options to purchase 1,799,773 shares of common stock at a weighted average exercise price of $5.64 per share and restricted stock units representing 157,128 shares of common stock remained outstanding under the 2013 Plan. As of September 30, 2017, there were 789,856 shares of common stock available for grant under the 2013 Plan. Terms of stock award agreements, including vesting requirements, are determined by the Company’s board of directors or its compensation committee, subject to the provisions of the respective plan they were granted. Awards granted by the Company typically vest over a four year period. Certain of the awards are subject to acceleration of vesting in the event of certain change of control transactions and certain terminations of service. The awards may be granted for a term of up to ten years from the date of grant. The exercise price for options granted under the 2013 Plan must be at a price no less than 100% of the fair market value of a common share on the date of grant. The Company recognizes stock-based compensation expense over the requisite service period. The Company’s share-based awards are accounted for as equity instruments. The amounts included in the consolidated statements of operations relating to stock-based compensation are as follows: Three Months ended September 30, Nine Months ended September 30, 2017 2016 2017 2016 Research and development expenses $ 224,341 $ 475,026 $ 691,747 $ 972,237 General and administrative expenses 434,998 401,999 1,430,922 1,187,477 Total stock-based compensation expense $ 659,339 $ 877,025 $ 2,122,669 $ 2,159,714 Stock Options The table below summarizes activity relating to stock options for the nine months ended September 30, 2017: Number of Weighted Weighted Aggregate (a) Outstanding at December 31, 2016 1,498,585 $ 4.63 7.86 $ 2,186,398 Granted 889,337 5.12 Cancelled/Forfeited (151,065 ) 4.02 Exercised — — Outstanding at September 30, 2017 2,236,857 $ 4.87 8.05 $ 5,438,617 Exercisable at September 30, 2017 1,072,576 $ 4.37 7.00 $ 3,205,195 (a) The aggregate intrinsic value in this table was calculated on the positive difference, if any, between the closing market price per share of the Company’s common stock on September 30, 2017 of $7.20 and the price of the underlying options. As of September 30, 2017, unamortized stock-based compensation for all stock options was $4,206,251 and will be recognized over a weighted average period of 2.61 years. Restricted Stock Units Restricted stock units are not included in issued and outstanding common stock until the underlying shares are vested and released. The table below summarizes activity relating to restricted stock units for the nine months ended September 30, 2017: Number of Outstanding at December 31, 2016 27,096 Granted 136,806 Earned/released (6,774 ) Outstanding at September 30, 2017 157,128 Weighted average remaining recognition period of outstanding restricted stock units 3.30 Unearned stock-based compensation expense of outstanding restricted stock units $ 700,588 Aggregate intrinsic value of outstanding restricted stock units (a) $ 1,131,322 (a) The aggregate intrinsic value in this table was calculated on the positive difference, if any, between the closing market price per share of the Company’s common stock on September 30, 2017 of $7.20 and the price of the underlying restricted stock unit. The aggregate intrinsic value of restricted stock units vested during the nine months ended September 30, 2017 was $27,943. The weighted-average grant-date fair value of restricted stock units granted during the nine months ended September 30, 2017 was $5.10 per share. Employee Stock Purchase Plan Our 2016 Employee Stock Purchase Plan (2016 ESPP) authorizes the issuance of up to a total of 223,263 shares of the Company’s common stock in semi-annual offerings to participating employees at a price equal to the lower of 85% of the closing price on the applicable offering commencement date or 85% of the closing price on the applicable offering termination date. The number of shares reserved for issuance under the 2016 ESPP automatically increases on the first business day of each fiscal year by a number equal to the lesser of (i) 1% of the shares of common stock outstanding on the last business day of the prior fiscal year; or (ii) the number of shares determined by the Company’s Board of Directors. Stock-based compensation expense for the 2016 ESPP is recognized for the benefit accorded to the participating employees. At September 30, 2017, we have reserved 211,741 shares for future issuance under the 2016 ESPP. A summary of the weighted-average grant-date fair value, shares issued and total stock-based compensation expense recognized related to the 2016 ESPP as of September 30, 2017 and 2016 are as follows: 2017 2016 Weighted-average grant-date fair value per share $ 0.70 $ — Total shares issued 11,522 — Total stock-based compensation expense $ 8,037 $ —

Stock Purchase Warrants

Stock Purchase Warrants	9 Months Ended
	Sep. 30, 2017
Text Block [Abstract]
Stock Purchase Warrants	10. STOCK PURCHASE WARRANTS As of September 30, 2017, there were 1,384,608 warrants to purchase shares of common stock of the Company outstanding with a weighted-average exercise price of $9.52 per share and weighted-average remaining life of 0.3 years. During the nine months ended September 30, 2017, there were no exercises, issuances or expirations of warrants to purchase shares of common stock of the Company. A summary of the common share purchase warrants outstanding and exercisable at September 30, 2017 is as follows: Exercise Number Expiry Date $ 10.00 60,000 May 1, 2019 9.50 1,113,080 January 14, 2018 9.50 211,528 January 21, 2018 1,384,608

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. COMMITMENTS AND CONTINGENCIES In the ordinary course of its business, the Company may be involved in various legal proceedings involving contractual and employment relationships, patent or other intellectual property rights, and a variety of other matters. The Company is not aware of any pending legal proceedings that would reasonably be expected to have a material impact on the Company’s financial position or results of operations.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	The accompanying interim unaudited condensed financial statements and related disclosures are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and the instructions to Form 10-Q S-X. 10-K In February 2017, the Company closed an underwritten public offering in which it sold, an aggregate of 2,555,555 shares of common stock, including 333,333 shares sold in connection with the exercise in full by the underwriters of their option to purchase additional shares. The net proceeds of the offering, including the full exercise of the option, were approximately $10.6 million, after deducting underwriting discounts, commissions, and other offering expenses payable by Aldeyra. In June 2017, the Company entered into a Controlled Equity Offering SM sales agreement (Sales Agreement) with Cantor Fitzgerald & Co. (Cantor), as sales agent, pursuant to which the Company may offer and sell, from time to time through Cantor, shares of the Company’s common stock, par value $0.001 per share, providing for aggregate sales proceeds of up to $20,000,000. Under the Sales Agreement, Cantor may sell such shares of common stock in sales deemed to be an “at the market offering” (ATM) as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, with the Company setting the parameters for the sale of shares thereunder, including the number of shares to be issued, the time period during which sales are requested to be made, any limits on the number of shares that may be sold in any one trading day and any minimum price below which sales may not be made. The Sales Agreement provides that Cantor will be entitled to compensation for its services equal to 3.0% of the gross proceeds from the sale of shares sold pursuant to the Sales Agreement. The Company has no obligation to sell any shares under the Sales Agreement, and may at any time suspend solicitations and offers under the Sales Agreement. No shares have been sold under the Sales Agreement as of September 30, 2017. In September 2017, the Company closed an underwritten public offering in which it sold, an aggregate of 3,967,500 shares of common stock, including 517,500 shares sold in connection with the exercise in full by the underwriters of their option to purchase additional shares. The net proceeds of the offering, including the full exercise of the option, were approximately $26.9 million, after deducting underwriting discounts, commissions, and other offering expenses payable by Aldeyra. The Company’s management believes that its currently available resources, including amounts potentially available under its credit facility (Note 7), will provide sufficient funds to enable the Company to meet its expected obligations for at least the next 24 months based on the Company’s current business plan. However, these amounts will not be sufficient for the Company to develop and commercialize its product candidates or conduct any substantial, additional development requirements requested by the U.S. Food and Drug Administration (FDA). Additional funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to secure additional capital, or meet financial covenants that could be implemented under the Company’s term loans in certain circumstances, it will be required to significantly decrease the amount of planned expenditures, and may be required to cease operations. Curtailment of operations would cause significant delays in the Company’s efforts to develop and introduce its products to market, which is critical to the realization of its business plan and the future operations of the Company.
Use of Estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates and assumptions.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09 2016-09), ASU 2016-09 In February 2016, the FASB issued ASU No. 2016-02 2016-02), 2016-02 right-of-use ASU 2016-02 In November 2015, the FASB issued ASU No. 2015-17, 2015-17). 2015-17 tax-paying 2015-17. ASU 2015-17 In April 2015, the FASB issued ASU No. 2015-03, 2015-03). 2015-03 ASU 2015-03 In May 2014, the FASB issued ASU No. 2014-09, ASU 2014-09

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Computation of Diluted Weighted-Average Shares Outstanding	The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding, because such securities had an antidilutive impact: Three Months ended September 30, Nine Months ended September 30, 2017 2016 2017 2016 Options to purchase common stock 2,236,857 1,654,482 2,236,857 1,654,482 Warrants to purchase common stock 1,384,608 1,384,608 1,384,608 1,384,608 Restricted stock units 157,128 27,096 157,128 27,096 Total of common stock equivalents 3,778,593 3,066,186 3,778,593 3,066,186

Cash, Cash Equivalents and Ma20

Cash, Cash Equivalents and Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2017
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents and Marketable Securities	At September 30, 2017, cash, cash equivalents and marketable securities were comprised of: Carrying Amount Unrecognized Gain Unrecognized Loss Estimated Fair Value Cash Equivalents Current Marketable Securities Cash $ 1,044,417 $ — $ — $ 1,044,417 $ 1,044,417 $ — Money market funds 12,056,919 — — 12,056,919 12,056,919 — Reverse repurchase agreements 19,500,000 — — 19,500,000 19,500,000 — U.S. government agency securities 15,310,681 166 (1,168 ) 15,309,679 502,513 14,807,166 Available for Sale(1) 34,810,681 166 (1,168 ) 34,809,679 20,002,513 14,807,166 Total cash, cash equivalents and current marketable securities $ 33,103,849 $ 14,807,166 (1) Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents information about the Company’s assets measured at fair value at September 30, 2017 and December 31, 2016: September 30, 2017 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 12,056,919 $ — $ — $ 12,056,919 Reverse repurchase agreements — 19,500,000 — 19,500,000 U.S. government agency securities — 15,309,679 — 15,309,679 Total assets at fair value $ 12,056,919 $ 34,809,679 $ — $ 46,866,598 December 31, 2016 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 70,212 $ — $ — $ 70,212 Reverse repurchase agreements — 11,550,000 — 11,550,000 U.S. government agency securities — 12,897,584 — 12,897,584 Total assets at fair value $ 70,212 $ 24,447,584 $ — $ 24,517,796

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses at September 30, 2017 and December 31, 2016 were: September 30, December 31, 2017 2016 Accrued compensation $ 645,871 $ 983,449 Accrued research and development 680,637 913,838 Accrued general & administrative 180,950 48,964 Accrued expenses $ 1,507,458 $ 1,946,251

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-Based Compensation Expense	The amounts included in the consolidated statements of operations relating to stock-based compensation are as follows: Three Months ended September 30, Nine Months ended September 30, 2017 2016 2017 2016 Research and development expenses $ 224,341 $ 475,026 $ 691,747 $ 972,237 General and administrative expenses 434,998 401,999 1,430,922 1,187,477 Total stock-based compensation expense $ 659,339 $ 877,025 $ 2,122,669 $ 2,159,714
Summary of Activity Relating to Stock Options	The table below summarizes activity relating to stock options for the nine months ended September 30, 2017: Number of Weighted Weighted Aggregate (a) Outstanding at December 31, 2016 1,498,585 $ 4.63 7.86 $ 2,186,398 Granted 889,337 5.12 Cancelled/Forfeited (151,065 ) 4.02 Exercised — — Outstanding at September 30, 2017 2,236,857 $ 4.87 8.05 $ 5,438,617 Exercisable at September 30, 2017 1,072,576 $ 4.37 7.00 $ 3,205,195 (a) The aggregate intrinsic value in this table was calculated on the positive difference, if any, between the closing market price per share of the Company’s common stock on September 30, 2017 of $7.20 and the price of the underlying options.
Summary of Activity Relating to Restricted Stock Units	The table below summarizes activity relating to restricted stock units for the nine months ended September 30, 2017: Number of Outstanding at December 31, 2016 27,096 Granted 136,806 Earned/released (6,774 ) Outstanding at September 30, 2017 157,128 Weighted average remaining recognition period of outstanding restricted stock units 3.30 Unearned stock-based compensation expense of outstanding restricted stock units $ 700,588 Aggregate intrinsic value of outstanding restricted stock units (a) $ 1,131,322 (a) The aggregate intrinsic value in this table was calculated on the positive difference, if any, between the closing market price per share of the Company’s common stock on September 30, 2017 of $7.20 and the price of the underlying restricted stock unit.
Summary of employee stock purchase plan activity	A summary of the weighted-average grant-date fair value, shares issued and total stock-based compensation expense recognized related to the 2016 ESPP as of September 30, 2017 and 2016 are as follows: 2017 2016 Weighted-average grant-date fair value per share $ 0.70 $ — Total shares issued 11,522 — Total stock-based compensation expense $ 8,037 $ —

Stock Purchase Warrants (Tables

Stock Purchase Warrants (Tables)	9 Months Ended
	Sep. 30, 2017
Text Block [Abstract]
Summary of Common Share Purchase Warrants Outstanding and Exercisable	A summary of the common share purchase warrants outstanding and exercisable at September 30, 2017 is as follows: Exercise Number Expiry Date $ 10.00 60,000 May 1, 2019 9.50 1,113,080 January 14, 2018 9.50 211,528 January 21, 2018 1,384,608

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($)	1 Months Ended			9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Feb. 28, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Class of Stock [Line Items]
Sale of stock, transaction date	Sep. 30, 2017		Feb. 28, 2017
Proceeds from public offering net of underwriting discounts, commissions and offering expenses	$ 26,900,000		$ 10,600,000	$ 37,474,106	$ 12,702,873
Common stock par value	$ 0.001			$ 0.001		$ 0.001
Additional Public Offering [Member]
Class of Stock [Line Items]
Shares issued during public offering	3,967,500		2,555,555
Over-Allotment Option [Member]
Class of Stock [Line Items]
Shares issued during public offering	517,500		333,333
At The Market Facility [Member] | Cantor Fitzgerald And Co [Member]
Class of Stock [Line Items]
Shares issued during public offering				0
Common stock par value		$ 0.001
Broker commission as percentage of sale proceed		3.00%
At The Market Facility [Member] | Cantor Fitzgerald And Co [Member] | Maximum [Member]
Class of Stock [Line Items]
Expected aggregate gross proceeds from issuance of stock		$ 20,000,000

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Diluted Weighted-Average Shares Outstanding (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents	3,778,593	3,066,186	3,778,593	3,066,186
Employee Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents	2,236,857	1,654,482	2,236,857	1,654,482
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents	1,384,608	1,384,608	1,384,608	1,384,608
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents	157,128	27,096	157,128	27,096

Cash, Cash Equivalents and Ma27

Cash, Cash Equivalents and Marketable Securities - Schedule of Cash, Cash Equivalents and Marketable Securities (Detail) - USD ($)	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jan. 01, 2016
Cash Cash Equivalents And Marketable Securities [Line Items]
Cash	$ 1,044,417
Money market funds	12,056,919
Reverse repurchase agreements	19,500,000
U.S. government agency securities	15,310,681
Available for Sale	34,810,681
Cash Equivalents	33,103,849	$ 12,015,061	$ 14,568,508	$ 14,648,866
Current Marketable Securities	14,807,166	$ 12,897,584
Available for Sale [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain	166
Unrecognized Loss	(1,168)
Estimated Fair Value	34,809,679
Cash Equivalents	20,002,513
Current Marketable Securities	14,807,166
Cash [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Estimated Fair Value	1,044,417
Cash Equivalents	1,044,417
Money Market Funds [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Estimated Fair Value	12,056,919
Cash Equivalents	12,056,919
Reverse Repurchase Agreements [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Estimated Fair Value	19,500,000
Cash Equivalents	19,500,000
US Government Agencies Securities [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain	166
Unrecognized Loss	(1,168)
Estimated Fair Value	15,309,679
Cash Equivalents	502,513
Current Marketable Securities	$ 14,807,166

Cash, Cash Equivalents and Ma28

Cash, Cash Equivalents and Marketable Securities - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017
Maximum [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Contractual maturities of available for sale securities	1 year

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Liabilities measured at fair value on a recurring basis	$ 0	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Assets:
Total assets at fair value	$ 46,866,598	$ 24,517,796
Money Market Funds [Member]
Assets:
Total assets at fair value	12,056,919	70,212
Reverse Repurchase Agreements [Member]
Assets:
Total assets at fair value	19,500,000	11,550,000
US Government Agencies Securities [Member]
Assets:
Total assets at fair value	15,309,679	12,897,584
Level 1 [Member]
Assets:
Total assets at fair value	12,056,919	70,212
Level 1 [Member] | Money Market Funds [Member]
Assets:
Total assets at fair value	12,056,919	70,212
Level 2 [Member]
Assets:
Total assets at fair value	34,809,679	24,447,584
Level 2 [Member] | Reverse Repurchase Agreements [Member]
Assets:
Total assets at fair value	19,500,000	11,550,000
Level 2 [Member] | US Government Agencies Securities [Member]
Assets:
Total assets at fair value	$ 15,309,679	$ 12,897,584

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued compensation	$ 645,871	$ 983,449
Accrued research and development	680,637	913,838
Accrued general & administrative	180,950	48,964
Accrued expenses	$ 1,507,458	$ 1,946,251

Credit Facility - Additional In

Credit Facility - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Fair value of warrants issued	$ 266,000
Pacific Western Bank [Member]
Line of Credit Facility [Line Items]
Proceeds from credit facility	$ 2,000,000
Debt instrument annual interest rate	5.25%
Credit facility outstanding	$ 1,400,000
Loan repayment period	36 months
Term Loan [Member] | Pacific Western Bank [Member]
Line of Credit Facility [Line Items]
Credit facility amount	$ 5,000,000
Term Loan [Member] | Prime Rate [Member] | Pacific Western Bank [Member]
Line of Credit Facility [Line Items]
Debt instrument variable annual interest rate	2.00%
Tranche B Loans [Member] | Pacific Western Bank [Member]
Line of Credit Facility [Line Items]
Proceeds from credit facility	$ 3,000,000
Pacific Western Credit Facility [Member]
Line of Credit Facility [Line Items]
Net of debt discount amount	$ 64,000	$ 80,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017USD ($)
Income Tax Disclosure [Abstract]
Provision for income tax benefit	$ 0
Deferred tax assets valuation allowance	100.00%

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Detail)	Jan. 01, 2016shares	Sep. 30, 2017USD ($)Incentive_Plan$ / sharesshares	Dec. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of incentive plans | Incentive_Plan		3
Options to purchase of shares of common stock		2,236,857	1,498,585
Exercise price per share of common stock | $ / shares		$ 4.87	$ 4.63
Fair value of a common stock percentage		100.00%
Awards granted, vesting period		4 years
Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation | $		$ 4,206,251
Weighted average recognition period		2 years 7 months 10 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of restricted stock units , vested | $		$ 27,943
Weighted average grant date fair value of shares | $ / shares		$ 5.10
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted in term years		10 years
2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase of shares of common stock		413,130
Exercise price per share of common stock | $ / shares		$ 1.58
2004 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock incentive plans, contractual term		Seven years
Stock incentive plan, termination date		2010-08
Options to purchase of shares of common stock		23,954
Exercise price per share of common stock | $ / shares		$ 3.24
2013 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase of shares of common stock		1,799,773
Exercise price per share of common stock | $ / shares		$ 5.64
Issuance of common stock authorized		2,761,293
Percentage of increase in common shares outstanding	7.00%
Number of restricted stock units outstanding		157,128
Common stock available for issuance		789,856
Increase in common stock outstanding	1,000,000
2016 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock authorized		223,263
Common stock available for issuance		211,741
Percentage increase in number of shares of common stock reserved for issuance		1.00%
Closing Price offering Commencement date, Percentage		85.00%
Closing Price offering Termination date, Percentage		85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Description		Our 2016 Employee Stock Purchase Plan (2016 ESPP) authorizes the issuance of up to a total of 223,263 shares of the Company's common stock in semi-annual offerings to participating employees at a price equal to the lower of 85% of the closing price on the applicable offering commencement date or 85% of the closing price on the applicable offering termination date.

Stock Incentive Plan - Schedule

Stock Incentive Plan - Schedule of Stock-Based Compensation Expense (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 659,339	$ 877,025	$ 2,122,669	$ 2,159,714
Research and Development Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	224,341	475,026	691,747	972,237
General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 434,998	$ 401,999	$ 1,430,922	$ 1,187,477

Stock Incentive Plan - Summary

Stock Incentive Plan - Summary of Activity Relating to Stock Options (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Shares Outstanding, Beginning Balance	1,498,585
Number of Shares, Granted	889,337
Number of Shares,Cancelled/Forfeited	(151,065)
Number of Shares, Exercised	0
Number of Shares Outstanding, Ending Balance	2,236,857	1,498,585
Number of Shares Exercisable, Ending Balance	1,072,576
Weighted Average Exercise Price, Beginning Balance	$ 4.63
Weighted Average Exercise Price, Granted	5.12
Weighted Average Exercise Price, Cancelled/Forfeited	4.02
Weighted Average Exercise Price, Exercised	0
Weighted Average Exercise Price, Ending Balance	4.87	$ 4.63
Weighted Average Exercise Price Exercisable, Ending Balance	$ 4.37
Weighted Average Contractual Term, Outstanding	8 years 18 days	7 years 10 months 10 days
Weighted Average Contractual Term, Exercisable	7 years
Aggregate Intrinsic Value, Outstanding	$ 5,438,617
Aggregate Intrinsic Value, Exercisable	$ 3,205,195	$ 2,186,398

Stock Incentive Plan - Summar37

Stock Incentive Plan - Summary of Activity Relating to Stock Options (Parenthetical) (Detail)	Sep. 30, 2017$ / shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Closing market price per share of common stock	$ 7.20

Stock Incentive Plan - Summar38

Stock Incentive Plan - Summary of Activity Relating to Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2017USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Outstanding, Beginning Balance	27,096
Number of Shares, Granted	136,806
Number of Shares, earned/released	(6,774)
Number of Shares Outstanding, Ending Balance	157,128
Weighted average remaining recognition period of outstanding restricted stock units	3 years 3 months 19 days
Unearned stock-based compensation expense of outstanding restricted stock units | $	$ 700,588
Aggregate intrinsic value of outstanding restricted stock units | $	$ 1,131,322

Stock Incentive Plan - Summar39

Stock Incentive Plan - Summary of Activity Relating to Restricted Stock Units (Parenthetical) (Detail)	Sep. 30, 2017$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing market price per share of common stock	$ 7.20
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing market price per share of common stock	$ 7.20

Stock Incentive Plan - Summar40

Stock Incentive Plan - Summary of Employee Stock Purchase Plan Activity (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Employee Stock Purchase Plan [Line Items]
Total stock-based compensation expense	$ 659,339	$ 877,025	$ 2,122,669	$ 2,159,714
2016 Employee Stock Purchase Plan [Member]
Employee Stock Purchase Plan [Line Items]
Weighted-average grant-date fair value per share			$ 0.70
Total shares issued			11,522
Total stock-based compensation expense			$ 8,037

Stock Purchase Warrants - Addit

Stock Purchase Warrants - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Equity [Abstract]
Warrants to Purchase shares of Common Stock	1,384,608
Weighted Average Exercise Price, per share | $ / shares	$ 9.52
Weighted Average Remaining Life	3 months 19 days
Class of warrants excercised | $	$ 0
Class of warrants issued and expired	0

Stock Purchase Warrants - Summa

Stock Purchase Warrants - Summary of Common Share Purchase Warrants Outstanding and Exercisable (Detail)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Class of Warrant or Right [Line Items]
Exercise Price | $ / shares	$ 9.52
Number Outstanding | shares	1,384,608
Exercise Price One [Member]
Class of Warrant or Right [Line Items]
Exercise Price | $ / shares	$ 10
Number Outstanding | shares	60,000
Expiry Date	May 1, 2019
Exercise Price Two [Member]
Class of Warrant or Right [Line Items]
Exercise Price | $ / shares	$ 9.50
Number Outstanding | shares	1,113,080
Expiry Date	Jan. 14, 2018
Exercise Price Three [Member]
Class of Warrant or Right [Line Items]
Exercise Price | $ / shares	$ 9.50
Number Outstanding | shares	211,528
Expiry Date	Jan. 21, 2018