Bellicum Pharmaceuticals (BLCM) 10-Q 9 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Entity Information [Line Items]
Entity Registrant Name	Bellicum Pharmaceuticals, Inc.
Entity Central Index Key	1,358,403
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		26,984,725

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 61,790	$ 70,241
Investment securities, available for sale - short-term	46,482	23,820
Accounts receivable, interest and other receivables	361	440
Prepaid expenses and other current assets	2,268	2,389
Total current assets	110,901	96,890
Investment securities, available for sale - long-term	43,536	56,304
Property and equipment, net	8,731	6,882
Other assets	346	330
TOTAL ASSETS	163,514	160,406
Current liabilities:
Accounts payable	1,774	2,106
Accrued expenses and other current liabilities	5,369	5,080
Current portion of capital lease obligation	15	13
Current portion of deferred rent	246	246
Total current liabilities	$ 7,404	$ 7,445
Commitments and contingencies
Long-term liabilities:
Long-term debt	$ 14,829	$ 0
Capital lease obligation	132	118
Deferred rent and other liabilities	783	826
TOTAL LIABILITIES	23,148	8,389
Stockholders’ equity:
Preferred stock: $0.01 par value; 10,000,000 shares authorized: no shares issued and outstanding	0	0
Common stock, $0.01 par value; 200,000,000 shares authorized at March 31, 2016 and December 31, 2015, respectively; 27,652,387 shares issued and 26,974,924 shares outstanding at March 31, 2016; 27,609,344 shares issued and 26,931,881 shares outstanding at December 31, 2015	277	276
Treasury stock: 677,463 shares held at March 31, 2016 and December 31, 2015	(5,056)	(5,056)
Additional paid-in capital	321,768	318,591
Accumulated other comprehensive loss	(56)	(302)
Accumulated deficit	(176,567)	(161,492)
Total stockholders’ equity	140,366	152,017
Total liabilities and stockholders’ equity	$ 163,514	$ 160,406

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred Stock, Value, Issued	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	200,000,000	200,000,000
Common stock, issued (shares)	27,652,387	27,609,344
Common stock, outstanding (shares)	26,974,924	26,931,881
Treasury Stock, shares (shares)	677,463	677,463

Statements of Operations

Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Grants	$ 92	$ 107
Total revenues	92	107
Operating Expenses [Abstract]
Research and development (includes share-based compensation of $1,386 and $599 for the three months ended March 31, 2016 and 2015, respectively)	10,988	5,718
General and administrative (includes share-based compensation of $1,679 and $890 for the three months ended March 31, 2016 and 2015, respectively)	4,284	2,197
Total operating expenses	15,272	7,915
Loss from operations	(15,180)	(7,808)
OTHER INCOME (EXPENSE):
Interest income	227	50
Interest expense	(122)	0
Total other income	105	50
NET LOSS	$ (15,075)	$ (7,758)
Net loss per common share attributable to common shareholders, basic and diluted	$ (0.56)	$ (0.30)
Weighted-average shares outstanding, basic and diluted	26,882,526	26,259,392
Unrealized gain on investment securities	$ 246	$ 0
Comprehensive loss	$ (14,829)	$ (7,758)

Statements of Operations (Paren

Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net loss per common share attributable to common shareholders, basic and diluted	$ (0.56)	$ (0.30)
Weighted-average shares outstanding, basic and diluted	26,882,526	26,259,392
Research and Development Expense [Member]
Share-based compensation	$ 1,386	$ 599
General and Administrative Expense [Member]
Share-based compensation	$ 1,679	$ 890

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net loss	$ (15,075)	$ (7,758)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	3,065	1,489
Depreciation expense	463	196
Amortization of premium on investment securities, net	(184)	0
Amortization of lease liability	(43)	(17)
Amortization of deferred financing costs	28	0
Changes in operating assets and liabilities:
Receivables	79	204
Prepaid expenses and other current assets	105	91
Accounts payable	(332)	(94)
Accrued liabilities and other	289	(1,136)
NET CASH USED IN OPERATING ACTIVITIES	(11,237)	(7,025)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investment securities	(21,015)	0
Proceeds from sale of investment securities	11,183	0
Purchases of property and equipment	(2,293)	(933)
CASH USED IN INVESTING ACTIVITIES	(12,125)	(933)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of stock options	113	2
Payment of issuance costs on common stock	0	(8)
Payment on capital lease obligation	(3)	0
Payment of debt issuance costs	(199)	0
Proceeds from line of credit or notes payable or debt	15,000	0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	14,911	(6)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(8,451)	(7,964)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	70,241	191,602
CASH AND CASH EQUIVALENTS AT END OF PERIOD	61,790	183,638
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid on capital lease obligation	9	0
NON-CASH INVESTING AND FINANCING ACTIVITIES
Capital lease obligation incurred for property and equipment	19	0
Accrued liabilities for purchase of property and equipment	560	0
Accrued issuance costs for long-term debt	$ 1,216	$ 0

Organization and Business Descr

Organization and Business Description	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Description	ORGANIZATION AND BUSINESS DESCRIPTION Bellicum Pharmaceuticals, Inc., the Company or Bellicum, was incorporated in Delaware in July 2004 and is based in Houston, Texas. The Company is a clinical stage biopharmaceutical company focused on discovering and developing novel cellular immunotherapies for various forms of cancer, including both hematological cancers and solid tumors, as well as orphan inherited blood disorders. The Company is devoting substantially all of its present efforts to developing next-generation product candidates in some of the most important areas of cellular immunotherapy, including, hematopoietic stem cell transplantation, CAR-T and TCR cell therapy. The Company has not generated any revenue from product sales to date and does not anticipate generating revenues from product sales in the foreseeable future. The Company is subject to risks common to companies in the biotechnology industry and the future success of the Company is dependent on its ability to successfully complete the development of, and obtain regulatory approval for, its product candidates, manage the growth of the organization, obtain additional financing necessary in order to develop launch and commercialize its product candidates, and compete successfully with other companies in its industry.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying interim financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and following the requirements of the U.S. Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been omitted. In management’s opinion, the unaudited interim financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s financial position and its results of operations and its cash flows for the periods presented. These statements do not include all disclosures required by GAAP and should be read in conjunction with the Company’s Annual Report on Form 10-K filed for the fiscal year ended December 31, 2015 (the Annual Report). A copy of the Annual Report is available on the SEC’s website, www.sec.gov , under the Company’s ticker symbol “BLCM” or on Bellicum’s website, www.bellicum.com . The results for the interim periods are not necessarily indicative of the results expected for the full fiscal year or any other interim period. Any reference in these footnotes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB). Use of Estimates The preparation of the financial statements in accordance with GAAP requires management to make certain estimates and judgments that affect the reported amounts of assets, liabilities, and expenses. Actual results could differ from those estimates. Net Loss and Net Loss per Share of Common Stock Attributable to Common Stockholders Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period without consideration for common stock equivalents. Diluted net loss per share of common stock is the same as basic net loss per share of common stock, since the effects of potentially dilutive securities are antidilutive. The following outstanding shares of common stock equivalents were excluded from the computations of diluted net loss per shares of common stock attributable to common stockholders for the periods presented, as the effect of including such securities would be anti-dilutive. As of March 31, Common Stock Equivalents: 2016 2015 Number of shares Warrants to purchase common stock — 355,392 Unvested shares of restricted stock 88,236 117,647 Options to purchase common stock 4,467,412 3,443,011 4,555,648 3,916,050 Investment Securities Consistent with its investment policy, the Company invests its cash allocated to fund its short-term liquidity requirements with prominent financial institutions in bank depository accounts and institutional money market funds and the Company invests the remainder of its cash in corporate debt securities and municipal bonds rated at least A quality or equivalent, U.S. Treasury notes and bonds and U.S. and state government agency-backed securities. The Company determines the appropriate classification of investment securities at the time of purchase and reevaluates its classification as of each balance sheet date. All investment securities owned during the three months ended March 31, 2016, were classified as available-for-sale. The cost of securities sold is based on the specific identification method. Investment securities are recorded as of each balance sheet date at fair value, with unrealized gains and, to the extent deemed temporary, unrealized losses included in stockholders’ equity. Interest and dividend income on investment securities, accretion of discounts and amortization of premiums and realized gains and losses are included in interest income in the Statements of Operations and Comprehensive Income Loss. An investment security is considered to be impaired when a decline in fair value below its cost basis is determined to be other than temporary. The Company evaluates whether a decline in fair value of an investment security is below its cost basis and is other than temporary using available evidence. In the event that the cost basis of the investment security exceeds its fair value, the Company evaluates, among other factors, the amount and duration of the period that the fair value is less than the cost basis, the financial health of and business outlook for the issuer, including industry and sector performance, and operational and financing cash flow factors, overall market conditions and trends, the Company’s intent to sell the investment security and whether it is more likely than not the Company would be required to sell the investment security before its anticipated recovery. If a decline in fair value is determined to be other than temporary, the Company records an impairment charge in the statement of comprehensive income (loss) and establishes a new cost basis in the investment. Debt Issuance Costs Costs related to debt issuance are presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, “ Leases .” ASU 2016-01 requires companies that lease assets to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The pronouncement will also require additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. Management is currently evaluating the impact of this pronouncement on the Company’s statements. In March 2016, the FASB issued ASU No. 2016-09, "Compensation-Stock Compensation." ASU 2016-09 simplifies accounting for share-based compensation arrangements, primarily as it relates to accounting for the income tax effects of share-based compensation. Under the pronouncement, an entity can make an entity-wide accounting policy decision to either estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures as they occur. The pronouncement is effective for annual periods beginning after December 31, 2016, and interim periods within those annual periods. Earlier application is permitted in any interim or annual period. The Company does not believe the adoption of this standard will have a material impact on the Company's financial statements. In April 2015, the FASB issued ASU No. 2015-03, “ Simplifying the Presentation of Debt Issuance Costs .” ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. During the three months ended March 31, 2016, the Company adopted ASU No. 2015-03. The Company has evaluated other recent accounting pronouncements and believes that none of them will have a material effect on the Company’s financial statements.

Fair Value Measurements and Inv

Fair Value Measurements and Investment Securities	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAI R VALU E MEASUREMENTS AND INVESTMENT SECURITIES Fair Value Measurement The Company follows ASC, Topic 820, Fair Value Measurements and Disclosures , or ASC 820, for application to financial assets. ASC 820 defines fair value, provides a consistent framework for measuring fair value under GAAP and requires fair value financial statement disclosures. ASC 820 applies only to the measurement and disclosure of financial assets that are required or permitted to be measured and reported at fair value under other ASC topics (except for standards that relate to share-based payments such as ASC Topic 718, Compensation – Stock Compensation ). The valuation techniques required by ASC 820 may be based on either observable or unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, and unobservable inputs reflect the Company’s market assumptions. These inputs are classified into the following hierarchy: Level 1 Inputs – quoted prices (unadjusted) in active markets for identical assets that the reporting entity has the ability to access at the measurement date; Level 2 Inputs – inputs other than quoted prices included within Level 1 that are observable for the asset, either directly or indirectly; and Level 3 Inputs – unobservable inputs for the assets. The following tables present the Company’s investment securities (including, if applicable, those classified on the Company’s balance sheet as cash equivalents) that are measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 , respectively: Fair Value Measurements at Reporting Date Balance at Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (in thousands) Cash Equivalents: Money market funds $ 54,891 $ 54,891 $ — $ — Total Cash Equivalents $ 54,891 $ 54,891 $ — $ — Investment Securities: U.S. government agency-backed securities $ 33,984 $ — $ 33,984 $ — Corporate debt securities 51,852 — 51,852 — Municipal bonds 4,182 — 4,182 — Total Investment Securities $ 90,018 $ — $ 90,018 $ — Fair Value Measurements at Reporting Date Balance at Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (in thousands) Cash Equivalents: Money market funds $ 52,714 $ 52,714 $ — $ — U.S. government agency-backed securities 9,500 9,500 Total Cash Equivalents $ 62,214 $ 52,714 $ 9,500 $ — Investment Securities: U.S. government agency-backed securities $ 22,388 $ — $ 22,388 $ — Corporate debt securities 51,547 — 51,547 — Municipal bonds 6,189 — 6,189 — Total Investment Securities $ 80,124 $ — $ 80,124 $ — Corporate debt securities and municipal bonds are valued based on various observable inputs such as benchmark yields, reported trades, broker/dealer quotes, benchmark securities and bids. Investment securities, all classified as available-for-sale, consisted of the following as of March 31, 2016 : March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Estimated Fair Value (in thousands) Investment Securities: U.S. government agency-backed securities $ 33,981 $ 15 $ (12 ) $ 33,984 Corporate debt securities 51,916 48 (112 ) 51,852 Municipal bonds 4,177 6 (1 ) 4,182 Total Investment Securities $ 90,074 $ 69 $ (125 ) $ 90,018 The Company's investment securities as of March 31, 2016 , will reach maturity between April 2016 and July 2026 , with a weighted-average maturity date in May 2017 . Management believes that the carrying value of the debt facility approximates its fair value, as the Company's debt facility bears interest at a rate that approximates prevailing market rates for instruments with similar characteristics. The fair value of the Company's debt facility is determined under Level 2 in the fair value hierarchy.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2016
Accrued Expenses [Abstract]
Accrued Expenses	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued liabilities and other liabilities consist of the following: March 31, 2016 December 31, 2015 (in thousands) Accrued manufacturing costs $ 3,062 $ 2,412 Accrued payroll 465 1,332 Accrued medical facility fees 146 282 Accrued patient treatment costs 235 333 Accrued property and equipment purchases 560 — Accrued other 901 721 Total accrued expenses $ 5,369 $ 5,080

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Debt	DEBT On March 10, 2016 (the Closing Date), the Company, entered into a Loan and Security Agreement (the Loan Agreement) with Hercules Capital, Inc. (Hercules), as agent and a lender, Hercules Technology II, L.P., as a lender, and Hercules Technology III, L.P., as a lender, under which the Company borrowed $15.0 million on the Closing Date and may borrow an additional $5.0 million on or prior to September 15, 2016. Subject to the terms and conditions of the Loan Agreement, including approval by Hercules’ investment committee and the Company’s achievement of specified milestones in the Loan Agreement (the Milestones), the Company may borrow an additional $10.0 million through March 15, 2017. The Company intends to use the proceeds received under the Loan Agreement for funding the build-out of our manufacturing facilities and general corporate purposes. The interest rate will be calculated at a rate equal to the greater of either (i) 9.35% plus the prime rate as reported in The Wall Street Journal minus 3.50% , and (ii) 9.35% . Payments under the Loan Agreement are interest only for 18 months from the Closing Date, extendable to 24 months upon the Company achieving the Milestones. The interest only period will be followed by equal monthly payments of principal and interest amortized over a 30 months schedule through the maturity date of March 1, 2020 (the “Loan Maturity Date”); provided that if the Milestones are achieved, the Company will make equal monthly payments of principal and interest amortized over a 24 months schedule through the Loan Maturity Date. The remaining principal balance will be due and payable on the Loan Maturity Date. In addition, upon the Loan Maturity date or such earlier date specified in the Loan Agreement, a final payment equal to $1,216,250 (the Final Facility Charge), plus, subject to and contingent on the funding of the additional $5.0 million loan advance, $173,750 ; plus, subject to and contingent on the funding of the additional $10.0 million loan advance, $695,000 . The Company’s obligations under the Loan Agreement are secured by a security interest in substantially all of its assets, other than its intellectual property. If the Company prepays the loan, including interest, prior to December 31, 2016, there will be no prepayment penalty. If the Company prepays the loan, including interest, after January 1, 2017 but prior to the date that is 24 months following the Closing Date, it will pay Hercules a prepayment charge based on a prepayment fee equal to 2.00% of the amount prepaid; if the prepayment occurs thereafter, it will pay Hercules a prepayment charge based on a prepayment fee equal to 1.00% of the amount prepaid. The prepayment charge is also applicable upon the occurrence of a change of control of the Company. In addition to a prepayment charge, if any, the Company will pay Hercules the Final Facility Charge. The Loan Agreement includes customary affirmative and restrictive covenants, but does not include any financial maintenance covenants, and also includes standard events of default, including payment defaults. Upon the occurrence of an event of default, a default interest rate of an additional 5% may be applied to the outstanding loan balance and Hercules may declare all outstanding obligations immediately due and payable and take such other actions as set forth in the Loan Agreement. The Company paid expenses related to the Loan Agreement of $199,000 , which, alo ng with the Final Facility Charge of $1,216,250 , have been recorded as deferred financing costs, which offset long-term debt on the Company's balance sheet. Deferred financing costs of $1,415,250 will be amortized over the term of the loan, and included in interest expense. During the three months ended March 31, 2016, interest expense included $28,000 of amortized deferred financing costs.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	SHARE-BASED COMPENSATION At March 31, 2016 , the Company had share-based awards outstanding under four share-based compensation plans as follows: The 2006 Stock Option Plan (the 2006 Plan) provided for the issuance of non-qualified stock options to employees, including officers, non-employee directors and consultants to the Company. As of March 31, 2016, 151,410 shares of common stock were reserved for issuance pursuant to outstanding options previously granted under the 2006 Plan to purchase common stock of the Company. The 2006 Plan was terminated by the Board in October 2014. The 2011 Stock Option Plan (the 2011 Plan) provided for the issuance of incentive and non-qualified stock options to employees, including officers, non-employee directors and consultants to the Company. As of March 31, 2016, 2,211,515 shares of common stock were reserved for issuance pursuant to outstanding options previously granted under the 2011 Plan to purchase common stock of the Company. The 2011 Plan terminated upon the effectiveness of the 2014 Plan described below. The 2014 Equity Incentive Plan (the 2014 Plan) became effective in December 2014, upon the closing of the Company's initial public offering. The 2014 Plan provides for the issuance of equity awards, including incentive and non-qualified stock options and restricted stock awards to employees, including officers, non-employee directors and consultants to the Company or its affiliates. The 2014 Plan also provides for the grant of performance cash awards and performance-based stock awards. The aggregate number of shares of common stock that are authorized for issuance under the 2014 Plan is 2,990,354 shares, plus any shares subject to outstanding options that were granted under the 2011 Plan or 2006 Plan that are forfeited, terminated, expired or are otherwise not issued. The 2014 Employee Stock Purchase Plan (the ESPP) provides for eligible Company employees, as defined by the ESPP, to be given an opportunity to purchase our common stock at a discount, through payroll deductions, with stock purchases being made upon defined purchase dates. The ESPP authorizes the issuance of up to 550,000 shares of our common stock, pursuant to purchase rights granted to our employees. No shares were purchased under the ESPP during the periods presented. A summary of activity within the ESPP follows: Three months ended March 31, 2016 2015 (in thousands) Deductions from employees $ 98 $ 101 Share-based compensation expense recognized $ 65 $ — Remaining share-based compensation expense $ 180 $ — The Company granted options to purchase 895,124 shares of its common stock during the three months ended March 31, 2016. The fair value of the option grants during the three months ended March 31, 2016 and 2015 was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions: Three months ended March 31, 2016 2015 Expected volatility 72.1 % 91.2 % Expected term (in years) 6.08 6.08 Risk-free interest rate 1.87 % 1.60 % Expected dividend yield — % — % At March 31, 2016 , there was $34.4 million of unrecognized compensation expense related to unvested stock options and stock that is expected to be recognized over a weighted-average period of 3.0 years. During the three months ended March 31, 2016 and 2015, the Company received cash proceeds from the exercise of stock options of approximately $113,000 and $2,000 , respectively. The aggregate intrinsic value of options exercised during the three months ended March 31, 2016 and 2015 was $0.7 million and $0.1 million , respectively. The following table summarizes the stock option activity for all stock plans during the three months ended March 31, 2016: Options Weighted- (in years) Weighted- (in thousands) Aggregate Intrinsic Value (1) Outstanding at December 31, 2015 3,628,973 $ 10.32 8.03 $ 39,021 Granted 895,124 $ 18.41 Exercised (43,043 ) $ 2.63 Canceled or forfeited (13,642 ) $ 15.83 Outstanding at March 31, 2016 4,467,412 $ 12.00 8.20 $ 11,492 Exercisable at March 31, 2016 1,922,004 $ 6.14 6.92 $ 9,880 (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the estimated fair value of the common stock for the options that were in the money at March 31, 2016. At March 31, 2016 and December 31, 2015, there were 88,236 shares of unvested common stock outstanding.

Grant Revenue

Grant Revenue	3 Months Ended
	Mar. 31, 2016
Grant Revenue [Abstract]
Grant Revenue	GRANT REVENUE NIH Grant During both 2015 and 2016, the Company was awarded $0.3 million , under grants from the National Institutes of Health (NIH). The awards cover the period from April 2015 through March 2017. The awards were made pursuant to the authority of 42 USC 241 42 CFR 52, and are subject to the requirements of the statute. Funds spent on the grant are reimbursed through monthly reimbursement requests. Funds spent under the grant were approximately $0.1 million in the three month periods ended March 31, 2016 and 2015. As of March 31, 2016 and December 31, 2015, the Company had a receivable of $25,200 and $57,000 , respectively, pursuant to the grants.

License Agreements

License Agreements	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
License Agreements	LICENSE AGREEMENTS License Agreements - Baylor In March 2016, the Company and Baylor College of Medicine (BCM) entered into two additional license agreements pursuant to which the Company obtained exclusive rights to technologies and patent rights owned by BCM. The Company paid BCM a non-refundable license fee of $0.1 million , and could incur additional payments upon the achievement of certain milestone events as set forth in the agreement. If the Company is successful in developing any of the licensed technologies, resulting sales would be subject to a royalty payment in the low single digits.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation The Company, from time to time, may be involved in litigation relating to claims arising out of its ordinary course of business. Management believes that there are no material claims or actions pending or threatened against the Company.

Significant Accounting Polici16

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and following the requirements of the U.S. Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been omitted. In management’s opinion, the unaudited interim financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s financial position and its results of operations and its cash flows for the periods presented. These statements do not include all disclosures required by GAAP and should be read in conjunction with the Company’s Annual Report on Form 10-K filed for the fiscal year ended December 31, 2015 (the Annual Report). A copy of the Annual Report is available on the SEC’s website, www.sec.gov , under the Company’s ticker symbol “BLCM” or on Bellicum’s website, www.bellicum.com . The results for the interim periods are not necessarily indicative of the results expected for the full fiscal year or any other interim period. Any reference in these footnotes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB).
Use of Estimates	Use of Estimates The preparation of the financial statements in accordance with GAAP requires management to make certain estimates and judgments that affect the reported amounts of assets, liabilities, and expenses. Actual results could differ from those estimates.
Net Loss and Net Loss per Share of Common Stock Attributable to Common Stockholders	Net Loss and Net Loss per Share of Common Stock Attributable to Common Stockholders Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period without consideration for common stock equivalents. Diluted net loss per share of common stock is the same as basic net loss per share of common stock, since the effects of potentially dilutive securities are antidilutive.
Investment Securities	Investment Securities Consistent with its investment policy, the Company invests its cash allocated to fund its short-term liquidity requirements with prominent financial institutions in bank depository accounts and institutional money market funds and the Company invests the remainder of its cash in corporate debt securities and municipal bonds rated at least A quality or equivalent, U.S. Treasury notes and bonds and U.S. and state government agency-backed securities. The Company determines the appropriate classification of investment securities at the time of purchase and reevaluates its classification as of each balance sheet date. All investment securities owned during the three months ended March 31, 2016, were classified as available-for-sale. The cost of securities sold is based on the specific identification method. Investment securities are recorded as of each balance sheet date at fair value, with unrealized gains and, to the extent deemed temporary, unrealized losses included in stockholders’ equity. Interest and dividend income on investment securities, accretion of discounts and amortization of premiums and realized gains and losses are included in interest income in the Statements of Operations and Comprehensive Income Loss. An investment security is considered to be impaired when a decline in fair value below its cost basis is determined to be other than temporary. The Company evaluates whether a decline in fair value of an investment security is below its cost basis and is other than temporary using available evidence. In the event that the cost basis of the investment security exceeds its fair value, the Company evaluates, among other factors, the amount and duration of the period that the fair value is less than the cost basis, the financial health of and business outlook for the issuer, including industry and sector performance, and operational and financing cash flow factors, overall market conditions and trends, the Company’s intent to sell the investment security and whether it is more likely than not the Company would be required to sell the investment security before its anticipated recovery. If a decline in fair value is determined to be other than temporary, the Company records an impairment charge in the statement of comprehensive income (loss) and establishes a new cost basis in the investment.
Debt Issuance Costs	Debt Issuance Costs Costs related to debt issuance are presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, “ Leases .” ASU 2016-01 requires companies that lease assets to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The pronouncement will also require additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. Management is currently evaluating the impact of this pronouncement on the Company’s statements. In March 2016, the FASB issued ASU No. 2016-09, "Compensation-Stock Compensation." ASU 2016-09 simplifies accounting for share-based compensation arrangements, primarily as it relates to accounting for the income tax effects of share-based compensation. Under the pronouncement, an entity can make an entity-wide accounting policy decision to either estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures as they occur. The pronouncement is effective for annual periods beginning after December 31, 2016, and interim periods within those annual periods. Earlier application is permitted in any interim or annual period. The Company does not believe the adoption of this standard will have a material impact on the Company's financial statements. In April 2015, the FASB issued ASU No. 2015-03, “ Simplifying the Presentation of Debt Issuance Costs .” ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. During the three months ended March 31, 2016, the Company adopted ASU No. 2015-03. The Company has evaluated other recent accounting pronouncements and believes that none of them will have a material effect on the Company’s financial statements.

Significant Accounting Polici17

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Earnings Per Share, Potentially Dilutive Securities	The following outstanding shares of common stock equivalents were excluded from the computations of diluted net loss per shares of common stock attributable to common stockholders for the periods presented, as the effect of including such securities would be anti-dilutive. As of March 31, Common Stock Equivalents: 2016 2015 Number of shares Warrants to purchase common stock — 355,392 Unvested shares of restricted stock 88,236 117,647 Options to purchase common stock 4,467,412 3,443,011 4,555,648 3,916,050

Fair Value Measurements and I18

Fair Value Measurements and Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following tables present the Company’s investment securities (including, if applicable, those classified on the Company’s balance sheet as cash equivalents) that are measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 , respectively: Fair Value Measurements at Reporting Date Balance at Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (in thousands) Cash Equivalents: Money market funds $ 54,891 $ 54,891 $ — $ — Total Cash Equivalents $ 54,891 $ 54,891 $ — $ — Investment Securities: U.S. government agency-backed securities $ 33,984 $ — $ 33,984 $ — Corporate debt securities 51,852 — 51,852 — Municipal bonds 4,182 — 4,182 — Total Investment Securities $ 90,018 $ — $ 90,018 $ — Fair Value Measurements at Reporting Date Balance at Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (in thousands) Cash Equivalents: Money market funds $ 52,714 $ 52,714 $ — $ — U.S. government agency-backed securities 9,500 9,500 Total Cash Equivalents $ 62,214 $ 52,714 $ 9,500 $ — Investment Securities: U.S. government agency-backed securities $ 22,388 $ — $ 22,388 $ — Corporate debt securities 51,547 — 51,547 — Municipal bonds 6,189 — 6,189 — Total Investment Securities $ 80,124 $ — $ 80,124 $ —
Available-for-sale Securities	Investment securities, all classified as available-for-sale, consisted of the following as of March 31, 2016 : March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Estimated Fair Value (in thousands) Investment Securities: U.S. government agency-backed securities $ 33,981 $ 15 $ (12 ) $ 33,984 Corporate debt securities 51,916 48 (112 ) 51,852 Municipal bonds 4,177 6 (1 ) 4,182 Total Investment Securities $ 90,074 $ 69 $ (125 ) $ 90,018

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Accrued Expenses [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities and other liabilities consist of the following: March 31, 2016 December 31, 2015 (in thousands) Accrued manufacturing costs $ 3,062 $ 2,412 Accrued payroll 465 1,332 Accrued medical facility fees 146 282 Accrued patient treatment costs 235 333 Accrued property and equipment purchases 560 — Accrued other 901 721 Total accrued expenses $ 5,369 $ 5,080

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block]	A summary of activity within the ESPP follows: Three months ended March 31, 2016 2015 (in thousands) Deductions from employees $ 98 $ 101 Share-based compensation expense recognized $ 65 $ — Remaining share-based compensation expense $ 180 $ —
Valuation Assumptions	The fair value of the option grants during the three months ended March 31, 2016 and 2015 was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions: Three months ended March 31, 2016 2015 Expected volatility 72.1 % 91.2 % Expected term (in years) 6.08 6.08 Risk-free interest rate 1.87 % 1.60 % Expected dividend yield — % — %
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the stock option activity for all stock plans during the three months ended March 31, 2016: Options Weighted- (in years) Weighted- (in thousands) Aggregate Intrinsic Value (1) Outstanding at December 31, 2015 3,628,973 $ 10.32 8.03 $ 39,021 Granted 895,124 $ 18.41 Exercised (43,043 ) $ 2.63 Canceled or forfeited (13,642 ) $ 15.83 Outstanding at March 31, 2016 4,467,412 $ 12.00 8.20 $ 11,492 Exercisable at March 31, 2016 1,922,004 $ 6.14 6.92 $ 9,880 (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the estimated fair value of the common stock for the options that were in the money at March 31, 2016.

Significant Accounting Polici21

Significant Accounting Policies - Common Stock Equivalents (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	4,555,648	3,916,050
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	355,392
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	88,236	117,647
Equity Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	4,467,412	3,443,011

Fair Value Measurements and I22

Fair Value Measurements and Investment Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	$ 90,018
Fair Value, Measurements, Recurring
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	54,891	$ 62,214
Total Investment Securities	90,018	80,124
Fair Value, Measurements, Recurring | US Treasury and U.S. or state government agency-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	33,984
Fair Value, Measurements, Recurring | Corporate Debt Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	51,852
Fair Value, Measurements, Recurring | Municipal Bonds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	4,182
Fair Value, Measurements, Recurring | Money Market Funds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	54,891	52,714
Fair Value, Measurements, Recurring | US Government Corporations and Agencies Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents		9,500
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	54,891	52,714
Total Investment Securities	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | US Treasury and U.S. or state government agency-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Corporate Debt Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Municipal Bonds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Money Market Funds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	54,891	52,714
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	0	9,500
Total Investment Securities	90,018	80,124
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | US Treasury and U.S. or state government agency-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	33,984
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Corporate Debt Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	51,852
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Municipal Bonds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	4,182
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Money Market Funds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | US Government Corporations and Agencies Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents		9,500
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	0	0
Total Investment Securities	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | US Treasury and U.S. or state government agency-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Corporate Debt Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Municipal Bonds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Money Market Funds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	0	0
Municipal Bonds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	4,182
Municipal Bonds | Fair Value, Measurements, Recurring
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		6,189
Municipal Bonds | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		0
Municipal Bonds | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		6,189
Municipal Bonds | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		0
Corporate Debt Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	51,852
Corporate Debt Securities | Fair Value, Measurements, Recurring
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		51,547
Corporate Debt Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		0
Corporate Debt Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		51,547
Corporate Debt Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		0
US Treasury and U.S. or state government agency-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	$ 33,984
US Treasury and U.S. or state government agency-backed securities | Fair Value, Measurements, Recurring
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		22,388
US Treasury and U.S. or state government agency-backed securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		0
US Treasury and U.S. or state government agency-backed securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		22,388
US Treasury and U.S. or state government agency-backed securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		$ 0

Fair Value Measurements and I23

Fair Value Measurements and Investment Securities - Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 90,074
Gross Unrealized Gains	69
Gross Unrealized Losses	(125)
Aggregate Estimated Fair Value	90,018
US Treasury and U.S. or state government agency-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	33,981
Gross Unrealized Gains	15
Gross Unrealized Losses	(12)
Aggregate Estimated Fair Value	33,984
Corporate Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	51,916
Gross Unrealized Gains	48
Gross Unrealized Losses	(112)
Aggregate Estimated Fair Value	51,852
Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,177
Gross Unrealized Gains	6
Gross Unrealized Losses	(1)
Aggregate Estimated Fair Value	4,182
Fair Value, Measurements, Recurring
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value	$ 90,018	$ 80,124
Fair Value, Measurements, Recurring | US Treasury and U.S. or state government agency-backed securities
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		22,388
Fair Value, Measurements, Recurring | Corporate Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		51,547
Fair Value, Measurements, Recurring | Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		$ 6,189

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accrued Expenses [Abstract]
Accrued manufacturing costs	$ 3,062	$ 2,412
Accrued payroll	465	1,332
Accrued medical facility fees	146	282
Accrued patient treatment costs	235	333
Accrued property and equipment purchases	560	0
Accrued other	901	721
Total accrued expenses	$ 5,369	$ 5,080

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 10, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Long-term debt	$ 14,829,000		$ 15,000,000	$ 0
Unused borrowing capacity, amount	5,000,000		5,000,000
Contingent additional borrowing capacity	$ 10,000,000		$ 10,000,000
Percentage bearing fixed interest, percentage rate	9.35%
Payment terms, interest only payments, period 1	18 months
Payment terms, interest only payments, period 2	24 months
Payment terms, principal and interest payments, period 1	30 months
Payment terms, principal and interest payments, period 2	24 months
Periodic payment, final payment amount	$ 1,216,250
Periodic payment, final payment amount, additional amount, scenario 1	173,750
Periodic payment, final payment amount, additional amount, scenario 2	$ 695,000
Period threshold for prepayment penalty percentage evaluation	24 months
Early repayment fee, percentage of prepaid amount, period 1	2.00%
Early repayment fee, percentage of prepaid amount, period 2	1.00%
Debt default, additional interest rate on outstanding balance	5.00%
Payments of debt issuance costs	$ 199,000	$ 0
Deferred finance costs, noncurrent, net	1,216,250
Deferred finance costs, gross	1,415,250
Amortization of financing costs and discounts	$ 28,000
Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.50%

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	3 Months Ended
	Mar. 31, 2016USD ($)planshares	Mar. 31, 2015USD ($)shares	Dec. 31, 2015shares	Dec. 31, 2014shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans | plan	4
Granted (shares)	895,124
Compensation cost not yet recognized | $	$ 34,400,000
Period for recognition	3 years
Cash received from exercise of stock options | $	$ 113,000	$ 2,000
Intrinsic value of options, exercises in period | $	$ 700,000	$ 100,000
Equity instruments other than options, nonvested	88,236		88,236
2006 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	151,410
2011 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	2,211,515
2014 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	2,990,354
2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant				550,000
Stock issued during period, shares, employee stock purchase plans	0	0

Share-Based Compensation - Empl

Share-Based Compensation - Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 3,065	$ 1,489
2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan cash contributions	98	101
Allocated share-based compensation expense	65	0
Share-based compensation	$ 180	$ 0

Share-Based Compensation - Valu

Share-Based Compensation - Valuation Assumptions (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	72.10%	91.20%
Expected term (in years)	6 years 29 days	6 years 29 days
Risk-free interest rate	1.87%	1.60%
Expected dividend yield	0.00%	0.00%

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Options
December 31, 2015 (shares)	3,628,973
Granted (shares)	895,124
Exercised (shares)	(43,043)
Canceled or forfeited (shares)	(13,642)
Outstanding at March 31, 2016 (shares)	4,467,412	3,628,973
Exercisable at March 31, 2016 (shares)	1,922,004
Weighted- Average Exercise Price Per Share
December 31, 2015 (usd per share)	$ 10.32
Granted (usd per share)	18.41
Exercised (usd per share)	2.63
Canceled or forfeited (usd per share)	15.83
Outstanding at March 31, 2016 (usd per share)	12	$ 10.32
Exercisable at March 31, 2016 (usd per share)	$ 6.14
Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term, Outstanding	8 years 2 months 12 days	8 years 12 days
Weighted Average Remaining Contractual Term, Exercisable	6 years 11 months
Aggregate Intrinsic Value, Outstanding	$ 11,492	$ 39,021
Aggregate Intrinsic Value, Exercisable	$ 9,880

Grant Revenue (Details)

Grant Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenue from grants	$ 92,000	$ 107,000
National Institutes of Health Grant
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenue from grants	300,000
Costs and expenses	100,000	$ 100,000
Grants receivable	$ 25,200		$ 57,000

License Agreements (Details)

License Agreements (Details) $ in Millions	1 Months Ended
	Mar. 31, 2016USD ($)
Baylor | Licensing Agreements
Finite-Lived Intangible Assets [Line Items]
Non-refundable license fee	$ 0.1