Cara Therapeutics (CARA) 10-Q 10 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 05, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'CARA	'
Entity Registrant Name	'Cara Therapeutics, Inc.	'
Entity Central Index Key	'0001346830	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	22,778,597

Condensed_Balance_Sheets

Condensed Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$58,393	$12,357
Income tax receivable	89	61
Prepaid expenses	928	2,140
Total current assets	59,410	14,558
Property and equipment, net	2,262	2,825
Restricted cash	700	700
Total assets	62,372	18,083
Current liabilities:	'	'
Accounts payable and accrued expenses	4,149	1,958
Deferred revenue	1,944	3,475
Total current liabilities	6,093	5,433
Deferred lease obligation	944	1,139
Commitments and contingencies (Note 13)	'	'
Convertible Preferred stock; $0.001 par value; zero shares and 29,402,200 shares authorized at September 30, 2014 and December 31, 2013, respectively; zero shares and 29,186,929 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively; aggregate liquidation preference of zero and $65,969 at September 30, 2014 and December 31, 2013, respectively	'	65,586
Stockholders' (deficit) equity:	'	'
Preferred stock; $0.001 par value; 5,000,000 shares and zero shares authorized at September 30, 2014 and December 31, 2013, respectively, zero shares issued and outstanding at September 30, 2014 and December 31, 2013	'	'
Common stock; $0.001 par value; 100,000,000 shares and 50,000,000 shares authorized at September 30, 2014 and December 31, 2013, respectively, 22,778,597 shares and 4,288,243 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	23	4
Additional paid-in capital	131,341	8,377
Accumulated deficit	-76,029	-62,456
Total stockholders' (deficit) equity	55,335	-54,075
Total liabilities, convertible preferred stock and stockholders' (deficit) equity	$62,372	$18,083

Condensed_Balance_Sheets_Paren

Condensed Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Convertible Preferred stock, par value	$0.00	$0.00
Convertible Preferred stock, shares authorized	0	29,402,200
Convertible Preferred stock, shares issued	0	29,186,929
Convertible Preferred stock, shares outstanding	0	29,186,929
Convertible Preferred stock, aggregate liquidation preference	$0	$65,969
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	50,000,000
Common stock, shares issued	22,778,597	4,288,243
Common stock, shares outstanding	22,778,597	4,288,243

Condensed_Statements_of_Operat

Condensed Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenue:	'	'	'	'
License fees	$0	$0	$302	$9,637
Collaborative revenue	1,125	1,018	1,961	1,354
Total revenue	1,125	1,018	2,263	10,991
Operating expenses:	'	'	'	'
Research and development	6,208	3,764	11,609	6,707
General and administrative	1,520	795	4,390	2,416
Total operating expenses	7,728	4,559	15,999	9,123
Operating (loss) income	-6,603	-3,541	-13,736	1,868
Interest income (expense), net	26	-1,034	104	-3,765
Loss before benefit from income taxes	-6,577	-4,575	-13,632	-1,897
Benefit from income taxes	32	0	59	27
Net loss	-6,545	-4,575	-13,573	-1,870
Net loss available to common stockholders	($6,545)	($4,575)	($13,573)	($979)
Loss per share available to common stockholders	'	'	'	'
Basic and Diluted	($0.29)	($1.07)	($0.67)	($0.24)
Weighted average shares:	'	'	'	'
Basic and Diluted	22,713,040	4,288,243	20,351,005	4,080,869

Condensed_Statements_of_Conver

Condensed Statements of Convertible Preferred Stock and Stockholders' (Deficit) Equity (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Convertible Preferred Stock [Member]	Beneficial Conversion Feature on Convertible Promissory Notes [Member]
In Thousands, except Share data
Balance, Value at Dec. 31, 2012	'	'	'	'	$58,522	$2,050
Balance, Value at Dec. 31, 2012	-58,133	3	1,248	-59,384	'	'
Balance, Shares at Dec. 31, 2012	'	'	'	'	26,636,118	'
Balance, Shares at Dec. 31, 2012	'	3,328,698	'	'	'	'
Issuance of Junior A convertible preferred stock, net, Value	'	'	'	'	7,642	'
Issuance of Junior A convertible preferred stock, net, Shares	'	'	'	'	2,105,263	'
Preferred stock converted to common shares, Value	4,466	1	3,574	891	-4,466	'
Preferred stock converted to common shares, Shares	'	959,545	'	'	-2,246,743	'
Convertible promissory notes converted to Series D convertible preferred stock, Value	'	'	'	'	3,888	'
Convertible promissory notes converted to Series D convertible preferred stock, Shares	'	'	'	'	2,692,291	'
Beneficial conversion feature on convertible promissory notes	'	'	'	'	'	1,382
Reclassification of beneficial conversion feature	3,432	'	3,432	'	'	-3,432
Stock-based compensation expense	110	'	110	'	'	'
Net loss	-1,870	'	'	-1,870	'	'
Balance, Value at Sep. 30, 2013	-51,995	4	8,364	-60,363	'	'
Balance, Value at Sep. 30, 2013	'	'	'	'	65,586	'
Balance, Shares at Sep. 30, 2013	'	4,288,243	'	'	'	'
Balance, Shares at Sep. 30, 2013	'	'	'	'	29,186,929	'
Balance, Value at Dec. 31, 2013	65,586	'	'	'	65,586	'
Balance, Value at Dec. 31, 2013	-54,075	4	8,377	-62,456	'	'
Balance, Shares at Dec. 31, 2013	29,186,929	'	'	'	29,186,929	'
Balance, Shares at Dec. 31, 2013	'	4,288,243	'	'	'	'
Preferred stock converted to common shares, Value	65,586	13	65,573	'	-65,586	'
Preferred stock converted to common shares, Shares	'	12,554,171	'	'	-29,186,929	'
Sale of common stock in initial public offering, net of underwriting discounts and commissions and offering expenses, Value	56,247	6	56,241	'	'	'
Sale of common stock in initial public offering, net of underwriting discounts and commissions and offering expenses, Shares	'	5,750,000	'	'	'	'
Stock-based compensation expense	1,031	'	1,031	'	'	'
Shares issued upon exercise of stock options, Value	119	'	119	'	'	'
Shares issued upon exercise of stock options, Shares	179,800	179,800	'	'	'	'
Shares issued upon cashless exercise of warrants, Value	'	'	'	'	'	'
Shares issued upon cashless exercise of warrants, Shares	'	6,383	'	'	'	'
Net loss	-13,573	'	'	-13,573	'	'
Balance, Value at Sep. 30, 2014	55,335	23	131,341	-76,029	'	'
Balance, Value at Sep. 30, 2014	'	'	'	'	'	'
Balance, Shares at Sep. 30, 2014	'	22,778,597	'	'	'	'
Balance, Shares at Sep. 30, 2014	0	'	'	'	'	'

Condensed_Statements_of_Conver1

Condensed Statements of Convertible Preferred Stock and Stockholders' (Deficit) Equity (Parenthetical) (USD $)	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014
Statement of Stockholders' Equity [Abstract]	'
Sale of common stock in initial public offering, per share	$11
Underwriting discounts and commissions and offering expenses	$7,003

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating activities	'	'
Net loss	($13,573)	($1,870)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:	'	'
Non-cash compensation expense	1,031	110
Change in fair value of liability under license agreement	'	-35
Accrued interest and amortization of beneficial conversion feature on promissory notes	'	3,605
Depreciation and amortization	590	592
Deferred rent costs	-194	-175
Amortization of financing costs	'	117
Changes in operating assets and liabilities:	'	'
Income tax receivable	-28	-27
Prepaid expenses	240	-128
Accounts payable and accrued expenses	1,647	1,270
Deferred revenue	-1,531	4,434
Net cash (used in) provided by operating activities	-11,818	7,893
Investing activities	'	'
Purchases of property and equipment	-27	-4
Net cash (used in) investing activities	-27	-4
Financing activities	'	'
Proceeds from convertible promissory notes	'	1,462
Financing costs on convertible promissory notes	'	-70
Repayment of long-term debt	'	-307
Proceeds from sale of Junior A convertible preferred stock, net	'	7,642
Proceeds from initial public offering, net of issuance costs	57,762	'
Proceeds from the exercise of stock options	119	'
Net cash provided by financing activities	57,881	8,727
Net cash increase for the period	46,036	16,616
Cash and cash equivalents at beginning of period	12,357	1,117
Cash and cash equivalents at end of period	58,393	17,733
Supplemental disclosure of cash flow information	'	'
Cash paid for interest	'	24
Noncash financing activities	'	'
Conversion of convertible preferred stock to common stock	65,586	'
Reclassification of prepaid IPO costs paid in 2013	1,465	'
Unpaid IPO issuance costs	50	'
Conversion of convertible promissory notes to Series D convertible preferred stock	'	$3,888

Business

Business	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Business	'
	1. Business
	Cara Therapeutics, Inc. (the “Company”, “we”, “our” or “us”) is a clinical-stage biopharmaceutical corporation formed on July 2, 2004. The Company is focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting kappa opioid receptors. The Company’s primary activities to date have been organizing and staffing the company, developing its product candidates, including conducting preclinical studies and clinical trials of CR845-based product candidates and raising capital.
	On January 30, 2014, the Company’s registration statement on Form S-1 (File No 333-192230) was declared effective by the Securities and Exchange Commission (“SEC”) for its initial public offering (“IPO”), pursuant to which the Company registered the offering and sale of 5,750,000 shares of its common stock (including 750,000 shares upon exercise of an option by the underwriters) at a public offering price of $11.00 per share for aggregate gross offering proceeds of $63,250. As a result of the IPO, the Company received net proceeds of approximately $56,247 from the sale of 5,750,000 shares of its common stock, after deducting $4,427 of underwriting discounts and commissions and $2,576 of offering expenses, which had been paid or accrued as of September 30, 2014.
	Prior to the IPO, the Company raised several rounds of equity financing and issued debt, resulting in aggregate net proceeds of approximately $73,309 through December 31, 2013. Upon closing of the IPO, all outstanding shares of the Company’s convertible preferred stock were automatically converted to shares of the Company’s common stock (see Note 8). The Company has incurred substantial losses and negative cash flows from operating activities in nearly every fiscal period since inception, and expects operating losses and negative cash flows to continue into the foreseeable future.
	As of September 30, 2014, the Company has unrestricted cash and cash equivalents of $58,393 and an accumulated deficit of $(76,029). The Company had net cash (used in) provided by operating activities of $(11,818) and $7,893 for the nine months ended September 30, 2014 and 2013, respectively. The Company expects that cash and cash equivalents at September 30, 2014 will be sufficient to fund its operations beyond one year. The Company recognized net losses of $(6,545) and $(4,575) for the three months ended September 30, 2014 and 2013, respectively, and $(13,573) and $(1,870) for the nine months ended September 30, 2014 and 2013, respectively, and expects to incur additional losses for the full year ending December 31, 2014.
	The Company is subject to risks common to other life science companies including, but not limited to, uncertainty of product development and commercialization, lack of marketing and sales history, development by its competitors of new technological innovations, dependence on key personnel, market acceptance of products, product liability protection of proprietary technology, ability to raise additional financing, and compliance with Food and Drug Administration (“FDA”) and other government regulations. If the Company does not successfully commercialize any of its product candidates, it will be unable to generate recurring product revenue or achieve profitability.

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	2. Basis of Presentation
	The unaudited interim condensed financial statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, they do not include all information and disclosures necessary for a presentation of the Company’s financial position, results of operations and cash flows in conformity with generally accepted accounting principles in the United States of America (“GAAP”). In the opinion of management, these unaudited interim financial statements reflect all adjustments, consisting primarily of normal recurring accruals, necessary for a fair presentation of results for the periods presented. The results of operations for interim periods are not necessarily indicative of the results for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by SEC rules and regulations; however, the Company believes that the disclosures are adequate to make the information presented not misleading. The condensed balance sheet data for the year ended December 31, 2013 were derived from audited financial statements, but do not include all disclosures required by GAAP. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, as of the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from the Company’s estimates and assumptions. Significant estimates include useful lives of fixed assets, the periods over which certain revenues will be recognized, including licensing and collaborative revenue recognized from non-refundable up-front and non-substantive milestone payments, the amount of non-cash compensation costs related to share-based payments to employees and non-employees and the periods over which those costs are expensed and the likelihood of realization of deferred tax assets.
	There have been no material changes to the significant accounting policies previously disclosed in Note 2 to the Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 provides a single authoritative source of guidance and, thereby, is meant to significantly enhance comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets. ASU 2014-09 changes the principle under which the Company will recognize revenue from contracts with customers from one which requires the Company to satisfy specific criteria before recognizing revenue to one which requires the Company to recognize revenue in an amount that reflects the consideration to which it expects to be entitled in exchange for the transfer of promised goods or services to customers. The amount of revenue to be recognized in any reporting period is determined by applying the following steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 is effective for the Company for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period (i.e., January 1, 2017). Early application is not permitted. The Company is allowed to adopt ASU 2014-09 either (1) retrospectively to each prior reporting period presented using several practical expedients related to completed contracts and required disclosures, or (2) retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application, including disclosure of the effect of using this method of adoption on the financial statement line items. The Company is currently in the process of deciding which method of adoption it will use and the effect of adoption of ASU 2014-09 on its results of operations, financial position and cash flows.
	In August 2014, the FASB issued Accounting Standards Update 2014-15 Presentation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 codifies, for the first time within GAAP, management’s responsibility to evaluate whether there is substantial doubt about the Company’s ability to continue as a going concern and to provide related footnote disclosures in connection with preparing financial statements for each annual and interim reporting period. Substantial doubt about the Company’s ability to continue as a going concern exists when there are conditions or events, considered in the aggregate, that are known and reasonably knowable at the date that the financial statements are issued, that indicate that the Company will be unable to meet its obligations as they become due within one year after that date. ASU 2014-15 requires the Company to disclose the nature of those conditions or events when they are present, management’s plans to mitigate those conditions or events and whether or not such plans alleviated the substantial doubt. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted. Prior to adoption of ASU 2014-15, the Company evaluated the need to disclose its ability to continue as a going concern for a reasonable period of time based on projections of its ability to meet its obligations as they become due within a period of one year from the balance sheet date. Upon adoption of ASU 2014-15, that period will be extended to include one year from the date the financial statements are issued and the Company will be required to make the applicable disclosures in its financial statements. The Company does not expect that the adoption of ASU 2014-15 will have a material effect on its financial position, results of operations or cash flows.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	3. Fair Value Measurements
	As of September 30, 2014 and December 31, 2013, the Company’s financial instruments consist of cash and cash equivalents, restricted cash, accounts payable and accrued liabilities. The carrying amount of each of those financial instruments is generally considered to be representative of their respective fair values because of the short-term nature of those instruments.
	Current accounting guidance defines fair value, establishes a framework for measuring fair value in accordance with Accounting Standards Codification (“ASC”) section 820, and requires certain disclosures about fair value measurements.
	The valuation techniques included in the guidance are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect market assumptions and are classified into the following fair value hierarchy:
		•		Level 1 – Observable inputs – quoted prices in active markets for identical assets and liabilities.
		•		Level 2 – Observable inputs other than the quoted prices in active markets for identical assets and liabilities – such as quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets, or other inputs that are observable or can be corroborated by observable market data.
		•		Level 3 – Unobservable inputs – includes amounts derived from valuation models where one or more significant inputs are unobservable and require the company to develop relevant assumptions.
	The following table summarizes the financial assets measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013.
			September 30, 2014		December 31, 2013
			Level 1		Level 1
	Financial assets
	Cash equivalents:
	Money market funds		$	58,393	$	12,357
	Restricted cash:
	Bank certificate of deposit			700		700
	Total		$	59,093	$	13,057

Prepaid_expenses

Prepaid expenses	9 Months Ended
	Sep. 30, 2014
Text Block [Abstract]	'
Prepaid expenses	'
	4. Prepaid expenses
	As of September 30, 2014, prepaid expenses was $928, consisting of $277 of prepaid insurance, $639 of research and development (“R&D”) clinical costs and $12 of other costs. As of December 31, 2013, prepaid expenses was $2,140, consisting of $1,833 of IPO costs, $262 of R&D clinical costs, $34 of prepaid insurance and $11 of other costs.

Revenue_Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2014
Text Block [Abstract]	'
Revenue Recognition	'
	5. Revenue Recognition
	In general, the Company recognizes revenue when all of the following criteria are met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; the Company’s price to the customer is fixed or determinable and collectability is reasonably assured.
	The Company has entered into license agreements to develop, manufacture and commercialize drug products. The terms of these agreements typically contain multiple elements, including licenses and research and development services. Payments to the Company under these agreements may include nonrefundable license fees, payments for research activities, payments based upon the achievement of certain milestones and royalties on any resulting net product sales. There are no performance, cancellation, termination or refund provisions in any of the arrangements that contain material financial consequences to the Company.
	The Company records revenue related to these agreements in accordance with ASC 605-25, Revenue Recognition Multiple-Element Arrangements. In order to account for these agreements, the Company identifies the deliverables included within the arrangement and evaluates which deliverables represent separate units of accounting based on whether certain criteria are met, including whether the delivered element has stand-alone value to the counterparty. The consideration received is then allocated among the separate units of accounting based on each unit’s relative selling price. The identification of individual elements in a multiple-element arrangement and the estimation of the selling price of each element involve significant judgment, including consideration as to whether each delivered element has standalone value.
	Arrangement consideration allocated to license deliverables that represent separate units of accounting are recognized as revenue at the outset of the agreement assuming the general criteria for revenue recognition noted above have been met. Arrangement consideration allocated to license deliverables that do not represent separate units of accounting are deferred. The Company has determined that its license deliverables represent separate units of accounting.
	Arrangement consideration allocated to research and development services that represent separate units of accounting are recognized as the services are performed, assuming the general criteria for revenue recognition noted above have been met. The Company has determined that its research and developments services deliverables, as applicable, represent separate units of accounting.
	The Company’s license agreements include contingent milestone payments related to specified clinical development milestones and regulatory milestones. The Company generally considers non-refundable development and regulatory milestones that the Company expects to be achieved as a result of the Company’s efforts during the period of the Company’s performance obligations under the license and research agreements to be substantive and recognizes them as revenue upon the achievement of the milestone, assuming all other revenue recognition criteria are met. If such milestones are considered not to be substantive because the Company does not contribute effort to their achievement, the Company initially defers those milestone payments, allocates them to the units of accounting and recognizes them as revenue over the remaining term of those performance obligations. If no such performance obligation exists, milestone payments that are considered not to be substantive are generally recognized as revenue upon achievement, assuming all other revenue recognition criteria are met.
	Maruishi Pharmaceutical Co., Ltd.
	In April 2013, the Company entered into a license agreement with Maruishi Pharmaceutical Co., Ltd. (“Maruishi”) under which the Company granted Maruishi an exclusive license to develop, manufacture, and commercialize drug products containing CR845 for acute pain and uremic pruritus in Japan. The Company and Maruishi are responsible to use commercially reasonable efforts, at their own expense, to develop, obtain regulatory approval for and commercialize CR845 in the United States and Japan, respectively. In addition, the Company will provide Maruishi specific clinical development services for CR845 used in Maruishi’s field of use.
	Under the terms of this license agreement, the Company received an upfront non-refundable, non-creditable license fee of $15,000. Also, in conjunction with this arrangement Maruishi purchased 2,105,263 shares of Junior A convertible preferred stock of the Company pursuant to a stock purchase agreement for a purchase price of $8,000. These shares were recorded at their fair value of $7,663. As a result, the premium of $337 was allocated to the arrangement consideration.
	The Company has identified two deliverables under ASC 605-25: (1) the license; and (2) the R&D services specific to the uremic pruritus field of use. The Company has determined that the license has standalone value because Maruishi has the right to sublicense and manufacture CR845 in Japan. The second deliverable is the R&D services, which also have standalone value as similar services are sold separately by other vendors. Since both the license and the R&D services separability criteria have been met, they are being accounted for as separate units of accounting at the outset of the arrangement.
	Along with the R&D services performed by the Company for Maruishi, the Company supplies Maruishi with CR845 clinical material as an accommodation. The Company has entered into manufacturing and service agreements with third parties to manufacture CR845. Payments made by the Company to third parties based on firm and fixed commitments by Maruishi to purchase CR845 from the Company are capitalized as prepaid expense. During the manufacturing process, title and risk of loss remains with the third party until the Company has paid in full for the material.
	Once the Company has title to the CR845 and has delivered it to Maruishi, prepaid expense related to that CR845 is reduced with an offset to R&D expense. At that time, Maruishi reimburses the Company for its external and internal costs for purchasing CR845 and processing the sale to Maruishi and the Company recognizes collaborative revenue for the reimbursement amount. Deposits received from Maruishi prior to delivery of CR845 are recorded as deferred revenue.
	Under the terms of the license agreement, the Company is also entitled to receive aggregate milestone payments of $8,000 for events performed by Maruishi in Japan and $2,500 for events performed by the Company in the U.S. At the time of execution of this license agreement, there was significant uncertainty as to whether the stated milestones would be achieved. In conjunction with this uncertainty, the Company has determined that the milestones achieved in the U.S. are substantive in nature as they are commensurate with the enhancement of value of the delivered license as they relate to clinical success and advancement within the FDA drug development platform. The Company will account for those milestone payments under ASC 605 Revenue Recognition – Milestone Method. However, the milestones achieved by Maruishi in Japan are not substantive and will be accounted for as contingent consideration.
	During June 2014, Maruishi completed a Phase 1 clinical trial in Japan related to CR845 in acute post-operative pain, which constituted achievement of one of the milestones specified in the license agreement. As the milestone was considered not to be substantive, the payment was accounted for as contingent consideration. Accordingly, the Company allocated the non-refundable contingent payment of $480, net of a contractual foreign currency exchange adjustment, to the two deliverables in the same proportion as the initial upfront payment had been allocated. The portion of the contingent payment allocated to the previously delivered license deliverable was recognized as license revenue entirely in June 2014. A portion of the contingent payment allocated to the R&D services deliverable was recognized as collaborative revenue in June 2014 to the extent of R&D services provided through June 30, 2014 and the remainder was deferred and is being recognized as collaborative revenue through the period during which the Company provides R&D services to Maruishi. The payment due from Maruishi was received during the three months ended September 30, 2014.
	As of September 30, 2014 and December 31, 2013, the Company had $1,944 and $3,475, respectively, of deferred revenue pursuant to the R&D services deliverable under the license agreement with Maruishi.
	During the three months ended September 30, 2014 and 2013, the Company recognized no license fee revenue and $1,125 and $1,018, respectively, of collaborative revenue, including $1,125 and $960, respectively, of amortization of deferred revenue from the portion of the upfront payment received pursuant to the license agreement with Maruishi that was allocated to the R&D services deliverable and $0 and $58, respectively, from the sale of CR845 clinical compound.
	During the nine months ended September 30, 2014 and 2013, the Company recognized $302 and $9,637, respectively, of license fee revenue and $1,961 and $1,354, respectively, of collaborative revenue, including $1,802 and $1,266, respectively, of amortization of deferred revenue from the portion of the upfront payment received pursuant to the license agreement with Maruishi that was allocated to the R&D services deliverable and $159 and $88, respectively, from the sale of CR845 clinical compound.
	The Company incurred R&D expense related to the Maruishi license agreement of $1,326 and $2,438 during the three and nine months ended September 30, 2014, respectively, and $1,043 and $1,396 during the three and nine months ended September 30, 2013, respectively.

Accounts_Payable_and_Accrued_E

Accounts Payable and Accrued Expenses	9 Months Ended
	Sep. 30, 2014
Payables and Accruals [Abstract]	'
Accounts Payable and Accrued Expenses	'
	6. Accounts Payable and Accrued Expenses
	Accounts payable and accrued expenses consist of the following:
		September 30, 2014		December 31, 2013
	Accounts payable	$	1,715	$	676
	Accrued research projects		1,476		405
	Accrued professional fees		434		739
	Accrued compensation and benefits		488		83
	Accrued other		36		55
	Total	$	4,149	$	1,958

Net_Loss_Per_Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Net Loss Per Share	'
	7. Net Loss Per Share
	The Company computes basic net (loss) income per share using the “two-class” method, which includes the weighted-average number of common stock outstanding during the period and other securities that participate in dividends (a participating security). Prior to the closing of the IPO, the Company’s shares of convertible preferred stock were participating securities as defined by ASC 260-10, Earnings Per Share. Under the two-class method, basic net (loss) income per share available to common stockholders is computed by dividing the net (loss) income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted net (loss) income per share is computed using the more dilutive of (1) the two-class method, or (2) the “if-converted” method. The Company allocates net earnings on a pari passu (equal) basis to both common and preferred stockholders. Net losses are not allocated to preferred stockholders as they have no obligation to share in the Company’s net losses.
	Diluted net (loss) income per share gives effect to all potentially dilutive securities, including convertible preferred stock, convertible promissory notes and shares issuable upon the exercise of outstanding stock options and warrants, using the treasury stock method. For the three and nine months ended September 30, 2014 and 2013, the Company excluded the effects of potentially dilutive shares that were outstanding during those respective periods from the denominator as their inclusion would be ant-dilutive due to the Company’s net losses during those periods.
	The denominators used in the net loss per share computations are as follows:
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Basic:
	Weighted average common shares outstanding			22,713,040			4,288,243			20,351,005			4,080,869
	Diluted:
	Weighted average common shares outstanding - Basic			22,713,040			4,288,243			20,351,005			4,080,869
	Convertible preferred stock*			—			—			—			—
	Common stock options*			—			—			—			—
	Common stock warrants*			—			—			—			—
	Convertible promissory notes (as if converted)*			—			—			—			—
	Denominator for diluted net loss per share available to common stockholders			22,713,040			4,288,243			20,351,005			4,080,869
		*	No amounts were considered as their effects would be anti-dilutive.
	Basic and diluted net loss per share available to common stockholders are computed as follows:
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Net loss		$	(6,545	)	$	(4,575	)	$	(13,573	)	$	(1,870	)
	Add back: extinguishment of preferred shares			—			—			—			891
	Net loss available to common stockholders - Basic and Diluted		$	(6,545	)	$	(4,575	)	$	(13,573	)	$	(979	)
	Net loss per share available to common stockholders:
	Basic and Diluted		$	(0.29	)	$	(1.07	)	$	(0.67	)	$	(0.24	)
	Weighted-average common shares outstanding available to common stockholders:
	Basic and Diluted			22,713,040			4,288,243			20,351,005			4,080,869
	Securities outstanding at the end of the respective periods presented below, that could potentially dilute basic earnings per share in the future, that were not included in the computation of diluted net loss per share because to do so would have been antidilutive are as follows:
			September 30,
			2014			2013
	Convertible preferred stock			—			12,554,171
	Common stock options			964,360			490,160
	Common stock warrants			—			19,851
	Total			964,360			13,064,182
	All shares of the Company’s convertible preferred stock were automatically converted to shares of the Company’s common stock upon the closing of the IPO on February 5, 2014 (see Note 8). All convertible promissory notes were either converted into shares of the Company’s Series D convertible preferred stock or repaid in cash by December 31, 2013.

Convertible_Preferred_Stock

Convertible Preferred Stock	9 Months Ended
	Sep. 30, 2014
Text Block [Abstract]	'
Convertible Preferred Stock	'
	8. Convertible Preferred Stock
	As of December 31, 2013, the Company had authorized an aggregate of 29,402,200 shares of convertible preferred stock, par value $0.001 per share. Upon the closing of the Company’s IPO on February 5, 2014, all 29,186,929 shares of the Company’s convertible preferred stock that were issued and outstanding on that date were automatically converted into an aggregate of 12,554,171 shares of its common stock. As of September 30, 2014, there were no shares of convertible preferred stock authorized or outstanding.

Reverse_Stock_Split

Reverse Stock Split	9 Months Ended
	Sep. 30, 2014
Text Block [Abstract]	'
Reverse Stock Split	'
	9. Reverse Stock Split
	The Company’s Board of Directors and stockholders approved a 1-for-2.5 reverse stock split of the Company’s common stock effective on January 16, 2014, which resulted in an adjustment to the preferred stock conversion price to reflect a proportional decrease in the number of shares of common stock to be issued upon conversion. All share and per share data in the unaudited interim condensed financial statements and accompanying notes thereto included in this Quarterly Report on Form 10-Q have been retroactively adjusted for all periods presented to give effect to this reverse stock split.

Stockholders_Deficit_Equity

Stockholders' (Deficit) Equity	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Stockholders' (Deficit) Equity	'
	10. Stockholders’ (Deficit) Equity
	On January 16, 2014, the Company’s Board of Directors approved an Amended and Restated Certificate of Incorporation, which, among other things, increased the authorized number of shares of the Company’s common stock, par value $0.001 per share, from 50,000,000 to 100,000,000 and authorized 5,000,000 shares of undesignated preferred stock, par value $0.001 per share, that may be issued from time to time by the Board of Directors of the Company in one or more series. As of September 30, 2014, there were 22,778,597 shares of common stock and no shares of preferred stock issued and outstanding.
	On July 31, 2014, Connecticut Innovations Inc. (“CII”) exercised its outstanding warrants to purchase 19,851 shares of the Company’s common stock, which the Company had issued in September 2007 in connection with a loan from CII, in a cashless exercise, resulting in the issuance of 6,383 shares of the Company’s common stock.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-Based Compensation	'
	11. Stock-Based Compensation
	2014 Equity Incentive Plan
	The Company’s Board of Directors adopted, and its stockholders subsequently approved, its 2014 Equity Incentive Plan (the “2014 Plan”) in January 2014. The 2014 Plan became effective immediately upon the signing of the underwriting agreement for the Company’s initial public offering. The 2014 Plan is administered by the Company’s Board of Directors or a duly authorized committee thereof (the “Plan administrator”). The 2014 Plan provides for the grant of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock unit awards, stock appreciation rights, performance stock awards and other forms of equity compensation (collectively, “Stock Awards”). Additionally, the 2014 Plan provides for the grant of performance cash awards. Incentive stock options may be granted only to employees. All other awards may be granted to employees, including officers, non-employee directors, and consultants. No incentive stock options may be granted under the 2014 Plan after the tenth anniversary of the effective date of the 2014 Plan. Stock Awards granted under the 2014 Plan vest at the rate specified by the Plan administrator. The Plan administrator determines the term of Stock Awards granted under the 2014 Plan up to a maximum of ten years.
	Initially, the aggregate number of shares of the Company’s common stock that may be issued pursuant to Stock Awards under the 2014 Plan is 1,600,000 shares. Additionally, the number of shares of the Company’s common stock reserved for issuance under the 2014 Plan will automatically increase on January 1 of each year, beginning on January 1, 2015 and continuing through and including January 1, 2024, by 3% of the total number of shares of the Company’s capital stock outstanding on December 31 of the preceding calendar year, or a lesser number of shares determined by the Company’s Board of Directors. The maximum number of shares that may be issued pursuant to the exercise of incentive stock options under the 2014 Plan is 30,000,000 shares.
	2004 Stock Incentive Plan
	Under the 2004 Stock Incentive Plan (“2004 Plan”), the Company granted stock options to selected officers, employees and consultants of the Company. As of December 31 2013, options to purchase 490,160 shares of common stock were outstanding under the 2004 Plan, with a weighted average exercise price per share of $1.34. Although as of December 31 2013, 757,799 shares remained available for future issuance pursuant to the grant of options or restricted share awards under the 2004 Plan, following the effectiveness of the 2014 Plan in January 2014, no additional options or restricted share awards were granted under the 2004 Plan. As of September 30, 2014, the 2004 Plan has expired and no further grants of stock options or restricted stock are allowed. The 2014 Plan and 2004 Plan are referred to collectively as the Stock Incentive Plans.
	Under the Stock Incentive Plans, the Company granted 40,000 and 654,000 stock options during the three and nine months ended September 30, 2014, respectively, and no stock options during the three and nine months ended September 30, 2013. The fair values of stock options granted during the three and nine months ended September 30, 2014 were estimated as of the dates of grant using the Black-Scholes option pricing model with the following assumptions:
		Three Months Ended			Nine Months Ended
		September 30, 2014			September 30, 2014
	Risk-free interest rate		1.92	%	1.80% - 2.72%
	Expected volatility		65	%	65% - 71%
	Expected dividend yield		0	%	0%
	Expected life of employee options (in years)		6.25		6.25
	Expected life of nonemployee options (in years)		10		10
	The weighted average grant date fair value of options granted to employees and members of the Board of Directors for their Board service during the three and nine months ended September 30, 2014 was $8.01 and $7.58, respectively. As of September 30, 2014, the fair value of vested options that have been granted to nonemployee consultants, which is marked to market at each reporting date in accordance with ASC 505-50, was $5.87.
	During the three and nine months ended September 30, 2014 and 2013, the Company recognized compensation expense relating to stock options, as follows:
		Three Months Ended September 30,					Nine Months Ended September 30,
		2014			2013		2014		2013
	Research and development	$	38		$	31	$	269	$	62
	General and administrative		184			28		762		48
	Total stock option expense	$	222		$	59	$	1,031	$	110
	A summary of stock option award activity under the Company’s Stock Incentive Plans as of and for the nine months ended September 30, 2014 is presented below:
		Number of			Weighted
		Shares			Average
					Exercise
					Price
	Outstanding, December 31, 2013		490,160		$	1.34
	Granted		654,000			12.17
	Exercised		(179,800	)		0.66
	Outstanding, September 30, 2014		964,360			8.81
	Options exercisable, September 30, 2014		348,026		$	3.1

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	12. Income Taxes
	For the three months ended September 30, 2014 and 2013, pre-tax losses were $(6,577) and $(4,575), respectively, and for the nine months ended September 30, 2014 and 2013, pre-tax losses were $(13,632) and $(1,897), respectively. The Company recognized a full tax valuation allowance against net deferred tax assets at September 30, 2014 and December 31, 2013.
	The benefit from income taxes of $32 and $0 for the three months ended September 30, 2014 and 2013, respectively, and $59 and $27 for the nine months ended September 30, 2014 and 2013, respectively, relates to state research and development tax credits exchanged for cash pursuant to the Connecticut Research and Development Tax Credit Exchange Program, which permits qualified small businesses engaged in research and development activities within Connecticut to exchange their unused research and development tax credits for a cash amount equal to 65% of the value of the exchanged credits.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	13. Commitments and Contingencies
	Contractual obligations and commitments as of September 30, 2014 were as follows:
			Payment Due for the Year Ending December 31,
			2014		2015		2016		2017		2018		Thereafter		Total
	Operating lease (1)		$	215	$	886	$	913	$	740	$	—	$	—	$	2,754
	Employment agreements (2)			238		952		952		952		952		—		4,046
	Total		$	453	$	1,838	$	1,865	$	1,692	$	952	$	—	$	6,800
	-1	The Company leases its operating facility located in Shelton, Connecticut.
	-2	Effective January 2014, the Company entered into employment agreements with three of its executive officers. Each such employment agreement has a term of four years and is renewable on the same terms for one additional year unless the executive officer party to such agreement notifies the Company in writing not to renew. Under these employment agreements, each executive officer is eligible for severance benefits in specified circumstances, including 6 to 12 months of salary.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	2. Basis of Presentation
	The unaudited interim condensed financial statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, they do not include all information and disclosures necessary for a presentation of the Company’s financial position, results of operations and cash flows in conformity with generally accepted accounting principles in the United States of America (“GAAP”). In the opinion of management, these unaudited interim financial statements reflect all adjustments, consisting primarily of normal recurring accruals, necessary for a fair presentation of results for the periods presented. The results of operations for interim periods are not necessarily indicative of the results for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by SEC rules and regulations; however, the Company believes that the disclosures are adequate to make the information presented not misleading. The condensed balance sheet data for the year ended December 31, 2013 were derived from audited financial statements, but do not include all disclosures required by GAAP. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, as of the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from the Company’s estimates and assumptions. Significant estimates include useful lives of fixed assets, the periods over which certain revenues will be recognized, including licensing and collaborative revenue recognized from non-refundable up-front and non-substantive milestone payments, the amount of non-cash compensation costs related to share-based payments to employees and non-employees and the periods over which those costs are expensed and the likelihood of realization of deferred tax assets.
	There have been no material changes to the significant accounting policies previously disclosed in Note 2 to the Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 provides a single authoritative source of guidance and, thereby, is meant to significantly enhance comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets. ASU 2014-09 changes the principle under which the Company will recognize revenue from contracts with customers from one which requires the Company to satisfy specific criteria before recognizing revenue to one which requires the Company to recognize revenue in an amount that reflects the consideration to which it expects to be entitled in exchange for the transfer of promised goods or services to customers. The amount of revenue to be recognized in any reporting period is determined by applying the following steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 is effective for the Company for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period (i.e., January 1, 2017). Early application is not permitted. The Company is allowed to adopt ASU 2014-09 either (1) retrospectively to each prior reporting period presented using several practical expedients related to completed contracts and required disclosures, or (2) retrospectively with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application, including disclosure of the effect of using this method of adoption on the financial statement line items. The Company is currently in the process of deciding which method of adoption it will use and the effect of adoption of ASU 2014-09 on its results of operations, financial position and cash flows.
	In August 2014, the FASB issued Accounting Standards Update 2014-15 Presentation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 codifies, for the first time within GAAP, management’s responsibility to evaluate whether there is substantial doubt about the Company’s ability to continue as a going concern and to provide related footnote disclosures in connection with preparing financial statements for each annual and interim reporting period. Substantial doubt about the Company’s ability to continue as a going concern exists when there are conditions or events, considered in the aggregate, that are known and reasonably knowable at the date that the financial statements are issued, that indicate that the Company will be unable to meet its obligations as they become due within one year after that date. ASU 2014-15 requires the Company to disclose the nature of those conditions or events when they are present, management’s plans to mitigate those conditions or events and whether or not such plans alleviated the substantial doubt. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted. Prior to adoption of ASU 2014-15, the Company evaluated the need to disclose its ability to continue as a going concern for a reasonable period of time based on projections of its ability to meet its obligations as they become due within a period of one year from the balance sheet date. Upon adoption of ASU 2014-15, that period will be extended to include one year from the date the financial statements are issued and the Company will be required to make the applicable disclosures in its financial statements. The Company does not expect that the adoption of ASU 2014-15 will have a material effect on its financial position, results of operations or cash flows.
Revenue Recognition	'
	The Company records revenue related to these agreements in accordance with ASC 605-25, Revenue Recognition Multiple-Element Arrangements. In order to account for these agreements, the Company identifies the deliverables included within the arrangement and evaluates which deliverables represent separate units of accounting based on whether certain criteria are met, including whether the delivered element has stand-alone value to the counterparty. The consideration received is then allocated among the separate units of accounting based on each unit’s relative selling price. The identification of individual elements in a multiple-element arrangement and the estimation of the selling price of each element involve significant judgment, including consideration as to whether each delivered element has standalone value.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Summary of Financial Assets Measured at Fair Value on Recurring Basis	'
	The following table summarizes the financial assets measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013.
		September 30, 2014		December 31, 2013
		Level 1		Level 1
	Financial assets
	Cash equivalents:
	Money market funds	$	58,393	$	12,357
	Restricted cash:
	Bank certificate of deposit		700		700
	Total	$	59,093	$	13,057

Accounts_Payable_and_Accrued_E1

Accounts Payable and Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2014
Payables and Accruals [Abstract]	'
Schedule of Accounts Payable and Accrued Expenses	'
	Accounts payable and accrued expenses consist of the following:
		September 30, 2014		December 31, 2013
	Accounts payable	$	1,715	$	676
	Accrued research projects		1,476		405
	Accrued professional fees		434		739
	Accrued compensation and benefits		488		83
	Accrued other		36		55
	Total	$	4,149	$	1,958

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Computation of Denominators Used in Net Loss Per Share	'
	The denominators used in the net loss per share computations are as follows:
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Basic:
	Weighted average common shares outstanding			22,713,040			4,288,243			20,351,005			4,080,869
	Diluted:
	Weighted average common shares outstanding - Basic			22,713,040			4,288,243			20,351,005			4,080,869
	Convertible preferred stock*			—			—			—			—
	Common stock options*			—			—			—			—
	Common stock warrants*			—			—			—			—
	Convertible promissory notes (as if converted)*			—			—			—			—
	Denominator for diluted net loss per share available to common stockholders			22,713,040			4,288,243			20,351,005			4,080,869
		*	No amounts were considered as their effects would be anti-dilutive.
Computation of Basic and Diluted Net Loss Per Share Available to Common Stockholders	'
	Basic and diluted net loss per share available to common stockholders are computed as follows:
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Net loss		$	(6,545	)	$	(4,575	)	$	(13,573	)	$	(1,870	)
	Add back: extinguishment of preferred shares			—			—			—			891
	Net loss available to common stockholders - Basic and Diluted		$	(6,545	)	$	(4,575	)	$	(13,573	)	$	(979	)
	Net loss per share available to common stockholders:
	Basic and Diluted		$	(0.29	)	$	(1.07	)	$	(0.67	)	$	(0.24	)
	Weighted-average common shares outstanding available to common stockholders:
	Basic and Diluted			22,713,040			4,288,243			20,351,005			4,080,869
Schedule of Anti-Dilutive Common Stock Equivalents Excluded from Calculations of Diluted Net Loss Per Share	'
	Securities outstanding at the end of the respective periods presented below, that could potentially dilute basic earnings per share in the future, that were not included in the computation of diluted net loss per share because to do so would have been antidilutive are as follows:
			September 30,
			2014			2013
	Convertible preferred stock			—			12,554,171
	Common stock options			964,360			490,160
	Common stock warrants			—			19,851
	Total			964,360			13,064,182

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Summary of Assumptions Used in Black-Scholes Option Pricing Model	'
	The fair values of stock options granted during the three and nine months ended September 30, 2014 were estimated as of the dates of grant using the Black-Scholes option pricing model with the following assumptions:
		Three Months Ended			Nine Months Ended
		September 30, 2014			September 30, 2014
	Risk-free interest rate		1.92	%	1.80% - 2.72%
	Expected volatility		65	%	65% - 71%
	Expected dividend yield		0	%	0%
	Expected life of employee options (in years)		6.25		6.25
	Expected life of nonemployee options (in years)		10		10
Summary of Compensation Expense Relating to Stock Options	'
	During the three and nine months ended September 30, 2014 and 2013, the Company recognized compensation expense relating to stock options, as follows:
		Three Months Ended September 30,					Nine Months Ended September 30,
		2014			2013		2014		2013
	Research and development	$	38		$	31	$	269	$	62
	General and administrative		184			28		762		48
	Total stock option expense	$	222		$	59	$	1,031	$	110
Summary of Stock Option Award Activity under Stock Incentive Plans	'
	A summary of stock option award activity under the Company’s Stock Incentive Plans as of and for the nine months ended September 30, 2014 is presented below:
		Number of			Weighted
		Shares			Average
					Exercise
					Price
	Outstanding, December 31, 2013		490,160		$	1.34
	Granted		654,000			12.17
	Exercised		(179,800	)		0.66
	Outstanding, September 30, 2014		964,360			8.81
	Options exercisable, September 30, 2014		348,026		$	3.1

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of Contractual Obligations and Commitments	'
	Contractual obligations and commitments as of September 30, 2014 were as follows:
			Payment Due for the Year Ending December 31,
			2014		2015		2016		2017		2018		Thereafter		Total
	Operating lease (1)		$	215	$	886	$	913	$	740	$	—	$	—	$	2,754
	Employment agreements (2)			238		952		952		952		952		—		4,046
	Total		$	453	$	1,838	$	1,865	$	1,692	$	952	$	—	$	6,800
	-1	The Company leases its operating facility located in Shelton, Connecticut.
	-2	Effective January 2014, the Company entered into employment agreements with three of its executive officers. Each such employment agreement has a term of four years and is renewable on the same terms for one additional year unless the executive officer party to such agreement notifies the Company in writing not to renew. Under these employment agreements, each executive officer is eligible for severance benefits in specified circumstances, including 6 to 12 months of salary.

Business_Additional_Informatio

Business - Additional Information (Detail) (USD $)	0 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Jan. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Jan. 30, 2014	Dec. 31, 2012
Accounting Policies [Abstract]	'	'	'	'	'	'	'	'	'
Date of formation	2-Jul-04	'	'	'	'	'	'	'	'
Common stock, shares issued	'	'	22,778,597	'	22,778,597	'	4,288,243	5,750,000	'
Common stock, shares issued upon exercise by underwriters	'	'	'	'	'	'	'	750,000	'
Public offering price	'	'	$11	'	$11	'	'	$11	'
Aggregate gross offering proceeds	'	$63,250	'	'	'	'	'	'	'
Net proceeds as a result of IPO	'	56,247	'	'	57,762	'	'	'	'
Underwriting discounts and commissions	'	4,427	'	'	'	'	'	'	'
Additional offering expenses paid or accrued	2,576	'	'	'	'	'	'	'	'
Net proceeds from equity financing and issuance of debt prior to the IPO	'	'	'	'	'	'	73,309	'	'
Unrestricted cash and cash equivalents	'	'	58,393	17,733	58,393	17,733	12,357	'	1,117
Accumulated deficit	'	'	-76,029	'	-76,029	'	-62,456	'	'
Net cash (used in) provided by operating activities	'	'	'	'	-11,818	7,893	'	'	'
Net loss	'	'	($6,545)	($4,575)	($13,573)	($1,870)	'	'	'

Fair_Value_Measurements_Summar

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) (Recurring [Member], Level 1 [Member], USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Financial assets	'	'
Total	$59,093	$13,057
Money Market Funds [Member]	'	'
Financial assets	'	'
Cash equivalents	58,393	12,357
Bank Certificate of Deposit [Member]	'	'
Financial assets	'	'
Restricted cash	$700	$700

Prepaid_Expenses_Additional_In

Prepaid Expenses - Additional Information (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'	'
Prepaid expenses	$928	$2,140
Prepaid insurance	277	34
Research and development clinical costs	639	262
Other costs	12	11
IPO costs	'	$1,833

Revenue_Recognition_Additional

Revenue Recognition - Additional Information (Detail) (USD $)	0 Months Ended	1 Months Ended	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Apr. 30, 2013	Jun. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Apr. 30, 2013
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'	'	'	'	'	'	'
Upfront non-refundable, non-creditable license fee	'	'	'	'	'	'	'	$15,000
Issuance of convertible preferred stock	2,105,263	'	'	'	'	'	'	'
Stock purchase agreement, purchase price of preferred stock	8,000	'	'	'	'	'	'	'
Stock purchase agreement, purchase price fair value of preferred stock	7,663	'	'	'	'	'	'	'
Stock purchase agreement, purchase price premium of preferred stock	337	'	'	'	'	'	'	'
Revenue recognized from nonsubstantive milestones	'	'	'	'	8,000	'	'	'
Revenue recognized from substantive milestones	'	'	'	'	2,500	'	'	'
Non-refundable contingent payment	'	480	'	'	'	'	'	'
Deferred R&D service revenue	'	'	1,944	'	1,944	'	3,475	'
License fee revenue	'	'	0	0	302	9,637	'	'
Collaborative revenue	'	'	1,125	1,018	1,961	1,354	'	'
Amortization of deferred revenue	'	'	1,125	960	1,802	1,266	'	'
Revenue recognized from sale of clinical compound	'	'	0	58	159	88	'	'
Research and development expense	'	'	6,208	3,764	11,609	6,707	'	'
Maruishi License Agreement [Member]	'	'	'	'	'	'	'	'
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'	'	'	'	'	'	'
Research and development expense	'	'	$1,326	$1,043	$2,438	$1,396	'	'

Accounts_Payable_and_Accrued_E2

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Payables and Accruals [Abstract]	'	'
Accounts payable	$1,715	$676
Accrued research projects	1,476	405
Accrued professional fees	434	739
Accrued compensation and benefits	488	83
Accrued other	36	55
Total	$4,149	$1,958

Net_Loss_Per_Share_Computation

Net Loss Per Share - Computation of Denominators Used in Net Loss Per Share (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Basic:	'	'	'	'
Weighted average common shares outstanding	22,713,040	4,288,243	20,351,005	4,080,869
Diluted:	'	'	'	'
Weighted average common shares outstanding - Basic	22,713,040	4,288,243	20,351,005	4,080,869
Convertible preferred stock	'	'	'	'
Common stock options	'	'	'	'
Common stock warrants	'	'	'	'
Convertible promissory notes (as if converted)	'	'	'	'
Denominator for diluted net loss per share available to common stockholders	22,713,040	4,288,243	20,351,005	4,080,869

Net_Loss_Per_Share_Computation1

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share Available to Common Stockholders (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Net loss	($6,545)	($4,575)	($13,573)	($1,870)
Add back: extinguishment of preferred shares	'	'	'	891
Net loss available to common stockholders - Basic and Diluted	($6,545)	($4,575)	($13,573)	($979)
Net loss per share available to common stockholders:	'	'	'	'
Basic and Diluted	($0.29)	($1.07)	($0.67)	($0.24)
Weighted-average common shares outstanding available to common stockholders:	'	'	'	'
Basic and Diluted	22,713,040	4,288,243	20,351,005	4,080,869

Net_Loss_Per_Share_Schedule_of

Net Loss Per Share - Schedule of Anti-Dilutive Common Stock Equivalents Excluded from Calculations of Diluted Net Loss Per Share (Detail)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Anti-dilutive common stock equivalents	964,360	13,064,182
Convertible Preferred Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Anti-dilutive common stock equivalents	'	12,554,171
Common Stock Options [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Anti-dilutive common stock equivalents	964,360	490,160
Common Stock Warrants [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Anti-dilutive common stock equivalents	'	19,851

Convertible_Preferred_Stock_Ad

Convertible Preferred Stock - Additional Information (Detail) (USD $)	0 Months Ended	9 Months Ended
	Feb. 05, 2014	Sep. 30, 2014	Feb. 05, 2014	Dec. 31, 2013
Equity [Abstract]	'	'	'	'
Convertible Preferred stock, shares authorized	'	0	'	29,402,200
Convertible Preferred stock, par value	'	$0.00	'	$0.00
Convertible Preferred stock, shares issued	'	0	29,186,929	29,186,929
Convertible Preferred stock, shares outstanding	'	0	29,186,929	29,186,929
Conversion of stock, shares issued	12,554,171	'	'	'
Closing date of IPO	'	5-Feb-14	'	'

Reverse_Stock_Split_Additional

Reverse Stock Split - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Reverse stock split, description	'The Company's Board of Directors and stockholders approved a 1-for-2.5 reverse stock split of the Company's common stock effective on January 16, 2014, which resulted in an adjustment to the preferred stock conversion price to reflect a proportional decrease in the number of shares of common stock to be issued upon conversion
Reverse stock split, ratio	2.5
Reverse stock split, effective date	16-Jan-14

Stockholders_Deficit_Equity_Ad

Stockholders' (Deficit) Equity - Additional Information (Detail) (USD $)	0 Months Ended
	Jul. 31, 2014	Sep. 30, 2014	Jul. 31, 2014	Jan. 16, 2014	Dec. 31, 2013
Equity [Abstract]	'	'	'	'	'
Common stock, shares authorized	'	100,000,000	'	100,000,000	50,000,000
Common stock, par value	'	$0.00	'	$0.00	$0.00
Preferred stock, shares authorized	'	5,000,000	'	5,000,000	0
Preferred stock, par value	'	$0.00	'	$0.00	$0.00
Common stock, shares outstanding	'	22,778,597	'	'	4,288,243
Preferred stock, shares issued	'	0	'	'	0
Preferred stock, shares outstanding	'	0	'	'	0
Warrants exercised	'	'	19,851	'	'
Cashless exercise, shares	6,383	'	'	'	'

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Employees and Members of Board of Directors [Member]

Employees and Members of Board of Directors [Member]

2014 Equity Incentive Plan [Member]

2014 Equity Incentive Plan [Member]

2014 Equity Incentive Plan [Member]

2004 Stock Incentive Plan [Member]

2004 Stock Incentive Plan [Member]

Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Number of stock options that may be granted after the tenth anniversary of the 2014 Plan

'

'

'

'

'

'

'

0

'

'

'

'

Term of stock options granted

'

'

'

'

'

'

'

'

'

'10 years

'

'

Share-based compensation arrangement by share-based payment award, number of shares authorized

'

'

'

'

'

'

'

1,600,000

'

30,000,000

'

'

Annual increase in number of shares reserved for issuance as a percentage of shares of capital stock outstanding through January 1, 2024

'

'

'

'

'

'

'

'

3.00%

'

'

'

Options outstanding

964,360

'

964,360

'

490,160

'

'

'

'

'

'

490,160

Weighted average exercise price of options

$8.81

'

$8.81

'

$1.34

'

'

'

'

'

'

$1.34

Number of shares available for future issuance

'

'

'

'

'

'

'

'

'

'

0

757,799

Number of stock options granted

40,000

0

654,000

0

'

'

'

'

'

'

'

'

Fair value of options granted

'

'

'

'

'

$8.01

$7.58

'

'

'

'

'

Fair value of vested options granted

'

'

$5.87

'

'

'

'

'

'

'

'

'

StockBased_Compensation_Summar

Stock-Based Compensation - Summary of Assumptions Used in Black-Scholes Option Pricing Model (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Risk-free interest rate	1.92%	'
Risk-free interest rate, minimum	'	1.80%
Risk-free interest rate, maximum	'	2.72%
Expected volatility	65.00%	'
Expected volatility, minimum	'	65.00%
Expected volatility, maximum	'	71.00%
Expected dividend yield	0.00%	0.00%
Employee Options [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected life of options (in years)	'6 years 3 months	'6 years 3 months
Nonemployee Options [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected life of options (in years)	'10 years	'10 years

StockBased_Compensation_Summar1

Stock-Based Compensation - Summary of Compensation Expense Relating to Stock Options (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock option expense	$222	$59	$1,031	$110
Research and Development [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock option expense	38	31	269	62
General and Administrative [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock option expense	$184	$28	$762	$48

StockBased_Compensation_Summar2

Stock-Based Compensation - Summary of Stock Option Award Activity under Stock Incentive Plans (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'	'	'	'
Number of Shares, Outstanding, December 31, 2013	'	'	490,160	'
Number of Shares, Granted	40,000	0	654,000	0
Number of Shares, Exercised	'	'	-179,800	'
Number of Shares, Outstanding, September 30, 2014	964,360	'	964,360	'
Number of Shares, Options exercisable, September 30, 2014	348,026	'	348,026	'
Weighted Average Exercise Price, Outstanding, December 31, 2013	'	'	$1.34	'
Weighted Average Exercise Price, Granted	'	'	$12.17	'
Weighted Average Exercise Price, Exercised	'	'	$0.66	'
Weighted Average Exercise Price, Outstanding, September 30, 2014	$8.81	'	$8.81	'
Weighted Average Exercise Price, Options exercisable, September 30, 2014	$3.10	'	$3.10	'

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Pre-tax losses	($6,577)	($4,575)	($13,632)	($1,897)
Benefit from income taxes	$32	$0	$59	$27
Percentage of value of research and development tax credits exchanged for cash	'	'	65.00%	'

Commitments_and_Contingencies_1

Commitments and Contingencies - Schedule of Contractual Obligations and Commitments (Detail) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Other Commitments [Line Items]	'
Contractual obligations and commitments, Payment Due, 2014	$453
Contractual obligations and commitments, Payment Due, 2015	1,838
Contractual obligations and commitments, Payment Due, 2016	1,865
Contractual obligations and commitments, Payment Due, 2017	1,692
Contractual obligations and commitments, Payment Due, 2018	952
Contractual obligations and commitments, Payment Due, Thereafter	'
Contractual obligations and commitments, Payment Due, Total	6,800
Operating Lease [Member]	'
Other Commitments [Line Items]	'
Contractual obligations and commitments, Payment Due, 2014	215
Contractual obligations and commitments, Payment Due, 2015	886
Contractual obligations and commitments, Payment Due, 2016	913
Contractual obligations and commitments, Payment Due, 2017	740
Contractual obligations and commitments, Payment Due, 2018	'
Contractual obligations and commitments, Payment Due, Thereafter	'
Contractual obligations and commitments, Payment Due, Total	2,754
Employment Agreements [Member]	'
Other Commitments [Line Items]	'
Contractual obligations and commitments, Payment Due, 2014	238
Contractual obligations and commitments, Payment Due, 2015	952
Contractual obligations and commitments, Payment Due, 2016	952
Contractual obligations and commitments, Payment Due, 2017	952
Contractual obligations and commitments, Payment Due, 2018	952
Contractual obligations and commitments, Payment Due, Thereafter	'
Contractual obligations and commitments, Payment Due, Total	$4,046

Commitments_and_Contingencies_2

Commitments and Contingencies - Schedule of Contractual Obligations and Commitments (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2014
	Officers
Commitments and Contingencies Disclosure [Abstract]	'
Number of executive officers	3
Employment agreement term	'4 years
Employment agreement renewable term	'1 year
Employee agreements, severance description	'Under these employment agreements, each executive officer is eligible for severance benefits in specified circumstances, including 6 to 12 months of salary.