Bellicum Pharmaceuticals (BLCM) 10-Q 8 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Jun. 30, 2017	Jul. 28, 2017
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	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		33,226,519

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 75,148	$ 33,140
Investment securities, available for sale - short-term	55,081	70,632
Accounts receivable, interest and other receivables	275	334
Prepaid expenses and other current assets	2,621	1,504
Total current assets	133,125	105,610
Investment securities, available for sale - long-term	4,405	0
Property and equipment, net	25,458	16,504
Restricted cash	4,383	9,640
Other assets	353	283
TOTAL ASSETS	167,724	132,037
Current liabilities:
Accounts payable	2,103	3,623
Accrued expenses and other current liabilities	10,164	9,363
Current maturities of long-term debt	3,412	1,787
Current portion of capital lease obligations	27	21
Current portion of deferred rent	256	319
Total current liabilities	15,962	15,113
Commitments and contingencies
Long-term liabilities:
Long-term debt	27,116	18,436
Capital lease obligation	148	141
Deferred rent	1,791	1,773
TOTAL LIABILITIES	45,017	35,463
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 June 30, 2017 and December 31, 2016, 33,870,692 shares issued and 33,193,229 shares outstanding at June 30, 2017; 27,833,028 shares issued and 27,155,565 shares outstanding at December 31, 2016	339	278
Treasury stock: 677,463 shares held at June 30, 2017 and December 31, 2016	(5,056)	(5,056)
Additional paid-in capital	404,593	332,068
Accumulated other comprehensive income (loss)	(6)	17
Accumulated deficit	(277,163)	(230,733)
Total stockholders’ equity	122,707	96,574
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 167,724	$ 132,037

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
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)	33,870,692	27,833,028
Common stock, outstanding (shares)	33,193,229	27,155,565
Treasury Stock, shares (shares)	677,463	677,463

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Grants	$ 0	$ 101	$ 128	$ 193
Total revenues	0	101	128	193
Operating Expenses [Abstract]
Research and development	17,959	12,031	33,254	22,889
License fees	343	150	698	280
General and administrative	5,486	4,179	11,413	8,463
Total operating expenses	23,788	16,360	45,365	31,632
Loss from operations	(23,788)	(16,259)	(45,237)	(31,439)
OTHER INCOME (EXPENSE):
Interest income	307	236	504	463
Interest expense	(976)	(486)	(1,697)	(608)
Total other expense	(669)	(250)	(1,193)	(145)
NET LOSS	$ (24,457)	$ (16,509)	$ (46,430)	$ (31,584)
Net loss per common share attributable to common shareholders, basic and diluted	$ (0.74)	$ (0.61)	$ (1.54)	$ (1.17)
Weighted-average shares outstanding, basic and diluted	33,074,463	26,910,284	30,201,116	26,896,405
Unrealized gain (loss) on investment securities	$ (16)	$ 152	$ (23)	$ 398
Comprehensive loss	$ (24,473)	$ (16,357)	$ (46,453)	$ (31,186)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (46,430)	$ (31,584)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	6,554	6,183
Depreciation expense	1,648	951
Amortization of premium on investment securities, net	123	340
Amortization of lease liability	(45)	(85)
Amortization of deferred financing costs	380	150
Loss on disposition of fixed assets	0	20
Changes in operating assets and liabilities:
Receivables	59	58
Prepaid expenses and other assets	(1,187)	256
Accounts payable	(1,587)	(1,126)
Accrued liabilities and other	(2,138)	287
NET CASH USED IN OPERATING ACTIVITIES	(42,623)	(24,550)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investment securities	(28,020)	(22,700)
Proceeds from sale of investment securities	39,020	15,858
Purchases of property and equipment	(7,573)	(4,567)
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	3,427	(11,409)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from stock offering, net of offering costs	64,568
Proceeds from issuance of common stock - ESPP	167	188
Proceeds from exercise of stock options	1,297	285
Proceeds from notes payable	10,000	15,000
Payment of debt issuance costs	(75)	(199)
Payment on capital lease obligation	(10)	(7)
NET CASH PROVIDED BY FINANCING ACTIVITIES	75,947	15,267
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	36,751	(20,692)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	42,780	70,241
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	79,531	49,549
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Purchases of equipment in accounts payables and accrued liabilities	3,006	1,119
Accrued debt issuance costs	695	1,216
Capital lease obligations incurred for equipment	$ 23	$ 34

Organization and Business Descr

Organization and Business Description	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Description	ORGANIZATION AND BUSINESS DESCRIPTION Bellicum Pharmaceuticals, Inc., or Bellicum, was incorporated in Delaware in July 2004 and is based in Houston, Texas. Bellicum 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. Bellicum 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. In January 2017, Bellicum formed a wholly-owned subsidiary, Bellicum Pharma Limited, a private limited company organized under the laws of the United Kingdom for the purpose of developing product candidates in Europe. Bellicum and Bellicum Pharma Limited are collectively referred to herein as the Company.

Basis of Presentation and Manag

Basis of Presentation and Management Plans	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Management Plans	BASIS OF PRESENTATION AND MANAGEMENT PLANS The accompanying interim consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and follow 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 condensed consolidated financial statements have been prepared on the same basis as the audited financial statements and include all 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. All such adjustments are normal and recurring in nature. These statements should be read in conjunction with the Company's Annual Report on Form 10-K filed for the fiscal year ended December 31, 2016 (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). The Company has not generated any revenue from product sales to date and, if the Company does not successfully commercialize any of the Company's product candidates, the Company will not be able to generate product revenue or achieve profitability. As of June 30, 2017, the Company had an accumulated deficit of $277.2 million . 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	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the consolidated 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. Consolidation All financial information presented includes the accounts of the Company and its wholly-owned subsidiary, for which there has been no activity to date. All significant intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain prior period amounts in research and development expenses pertaining to license fees have been reclassified and listed separately to conform to the current period presentation. The reclassifications did not impact net loss or net loss per share. Revenue Recognition The Company has not yet generated any revenue from product sales. The Company’s source of revenue for 2017 and 2016 has been grant revenue related to a $1.3 million research grant from the National Institutes of Health (NIH) covering the period from April 2013 to March 2017. The grant contract with the NIH expired at the end of the first quarter. The Company accrued revenue as work was performed and qualifying costs were incurred. Cash and Cash Equivalents The Company considers all short-term, highly liquid investments with maturity of three months or less from the date of purchase to be cash equivalents. 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. The following outstanding shares of common stock equivalents were excluded from the computations of diluted net loss per share of common stock attributable to common stockholders for the periods presented, as the effect of including such securities would be anti-dilutive. As of June 30, 2017 2016 Common Stock Equivalents: Number of shares Options to purchase common stock 4,929,137 4,518,961 Unvested shares of restricted stock units 81,250 — Unvested shares of restricted stock 44,119 88,236 Total common stock equivalents 5,054,506 4,607,197 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. 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 based on whether they represent the investment of funds available for current operations, as defined in ASC 210-10-45-1 and ASC 210-10-45-2. The Company reevaluates its classification as of each balance sheet date. All investment securities owned are 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 reported as accumulated other comprehensive gain (loss), a separate component of 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 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 operations and comprehensive loss and establishes a new cost basis in the investment. Property and Equipment Furniture, equipment and software are recorded at cost and are depreciated using the straight-line method over the estimated useful lives of the related assets, which range from three to five years. Leasehold improvements are amortized over the shorter of the estimated useful life or the remaining lease term. 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 and are amortized using the effective interest method. Amortization of debt issuance costs are included in interest expense. Deferred Rent and Rent The Company recognizes rent expense for leases with increasing annual rents on a straight-line basis over the term of the lease. The amount of rent expense in excess of cash payments is classified as accrued rent. Any lease incentives received are deferred and amortized over the term of the lease. Equity Issuance Costs Equity issuance costs represent costs paid to third parties in order to obtain equity financing. These costs have been netted against the proceeds of the equity issuances. Licenses and Patents Licenses and patent costs for technologies that are utilized in research and development and have no alternative future use are expensed as incurred. Costs related to the license of patents from third parties and internally developed patents are classified as research and development expenses. Legal costs related to patent applications and maintenance are classified as general and administrative expenses. Clinical Trials The Company estimates its clinical trial expense accrual for a given period based on the number of patients enrolled at each site, estimated cost per patient, and the length of time each patient has been in the trial, less amounts previously billed. These accruals are recorded in accrued expenses and other current liabilities, and the related expense is recorded in research and development expense. Research and Development Research and development expenses consist of expenses incurred in performing research and development activities, including compensation and benefits for research and development employees and consultants, facilities expenses, overhead expenses, cost of laboratory supplies, manufacturing expenses, fees paid to third parties and other outside expenses. Research and development costs are expensed as incurred. Clinical trial and other development costs incurred by third parties are expensed as the contracted work is performed. The Company accrues for costs incurred as the services are being provided by monitoring the status of the clinical trial or project and the invoices received from its external service providers. The Company estimates depend on the timeliness and accuracy of the data provided by the vendors regarding the status of each project and total project spending. The Company adjusts its accrual as actual costs become known. Where contingent milestone payments are due to third parties under research and development arrangements, the milestone payment obligations are expensed when the milestone events are achieved. Collaboration Agreements The Company enters into collaboration agreements that include varying arrangements regarding which parties perform and bear the costs of research and development activities. The Company may share the costs of research and development activities with a collaborator, or the Company may be reimbursed for all or a significant portion of the costs of the Company's research and development activities. The Company records its internal and third-party development costs associated with these collaborations as research and development expenses. When the Company is entitled to reimbursement of all or a portion of the research and development expenses that it incurs under a collaboration, the Company records those reimbursable amounts as a deduction to the research and development expenses. If the collaboration is a cost-sharing arrangement in which both the Company and its collaborator perform development work and share costs. The Company also recognizes, as research and development expenses in the period when its collaborator incurs development expenses, the portion of the collaborator's development expenses that the Company is obligated to reimburse. Contract Manufacturing Services Contract manufacturing services are expensed as incurred. Prepaid expenses are capitalized and amortized as services are performed. Share-Based Compensation The Company accounts for its share-based compensation in accordance with ASC 718, Compensation - Stock Compensation , which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors to be recognized in the financial statements, based on their fair value. The Company measures share-based compensation to consultants in accordance with ASC 505-50, Equity-Based Payments to Non-Employees , and recognizes the fair value of the award over the period the services are rendered. The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock option awards. The fair value is recognized as expense, net of estimated forfeitures, over the requisite service period, which is generally the vesting period of the respective award on a straight-line basis. Application of New Accounting Standards During 2017, the Company adopted ASU No. 2016-09, “ Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ”, which is intended to simplify the financial reporting of the income tax impacts of share-based compensation arrangements. The classification guidance under ASU No. 2016-09 requires the recognition of excess tax benefits from share-based compensation arrangements as a discrete item within income tax benefit rather than additional paid-in capital and the classification guidance requiring presentation of excess tax benefits from share-based compensation arrangements as an operating activity on the statement of cash flows, rather than as a financing activity. The adoption of ASU No 2016-09 had no immediate impact on our financial statements and related disclosures because the Company does not currently recognize a tax benefit related to share-based compensation expense as we maintain net operating loss carryforwards and have established a valuation allowance against the entire net deferred tax asset as of June 30, 2017. Further, we have elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. In August 2016, the FASB issued ASU 2016-15, “ Classification of Certain Cash Receipts and Cash Payments, ” which provides guidance on the classification of certain cash receipts and payments in the statement of cash flows. The pronouncement is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Earlier application is permitted in any interim or annual period. The Company adopted this standard in 2017. New Accounting Requirements and Disclosures In January 2016, the FASB issued ASU No. 2016-01, “ Recognition and Measurement of Financial Assets and Financial Liabilities .” ASU 2016-01 requires that most equity investments be measured at fair value, with subsequent changes in fair value recognized in net income. The pronouncement also impacts financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is not permitted. The Company does not believe that the adoption of this pronouncement will have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases,” which 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. The Company is currently evaluating the impact of this pronouncement on the Company's consolidated financial statements.

Cash and Cash Equivalents and R

Cash and Cash Equivalents and Restricted Cash	6 Months Ended
	Jun. 30, 2017
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	CASH, CASH EQUIVALENTS AND RESTRICTED CASH As of June 30, 2017 and December 31, 2016, respectively, the Company maintained $4.4 million and $9.6 million as restricted cash. The funds are being held by an escrow agent to cover the construction costs related to the Company's facility lease. The restricted cash is subject to the terms of the escrow agreement and the requirements specified therein. The amount will decrease as the Company and its landlord authorize completion of certain aspects of the building improvements. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets that sum to the total of the same such amounts shown in the statements of cash flows. June 30, 2017 December 31, 2016 (in thousands) Cash and cash equivalents (1) $ 75,148 $ 33,140 Restricted cash, noncurrent 4,383 9,640 Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 79,531 $ 42,780 (1) As of June 30, 2017 and December 31, 2016, the Company invested approximately $65.1 million and $23.5 million , respectively, in cash equivalent instruments.

Fair Value Measurements and Inv

Fair Value Measurements and Investment Securities	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 , 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 $ 65,060 $ 65,060 $ — $ — Total Cash Equivalents $ 65,060 $ 65,060 $ — $ — Investment Securities: U.S. government agency-backed securities $ 19,120 $ — $ 19,120 $ — Corporate debt securities 38,710 — 38,710 — Municipal bonds 1,656 — 1,656 — Total Investment Securities $ 59,486 $ — $ 59,486 $ — 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 $ 23,459 $ 23,459 $ — $ — Total Cash Equivalents $ 23,459 $ 23,459 $ — $ — Investment Securities: U.S. government agency-backed securities $ 25,908 $ — $ 25,908 $ — Corporate debt securities 42,053 — 42,053 — Municipal bonds 2,671 — 2,671 — Total Investment Securities $ 70,632 $ — $ 70,632 $ — U.S. Treasury, U.S. government agency-backed securities, 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 June 30, 2017 and December 31, 2016: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Estimated Fair Value June 30, 2017 (in thousands) Investment Securities: U.S. government agency-backed securities $ 19,145 $ — $ (25 ) $ 19,120 Corporate debt securities 38,691 37 (18 ) 38,710 Municipal bonds 1,656 — — 1,656 Total Investment Securities $ 59,492 $ 37 $ (43 ) $ 59,486 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Estimated Fair Value December 31, 2016 (in thousands) U.S. government agency-backed securities $ 25,906 $ 7 $ (5 ) $ 25,908 Corporate debt securities 42,040 41 (28 ) 42,053 Municipal bonds 2,669 2 — 2,671 Total $ 70,615 $ 50 $ (33 ) $ 70,632 The Company's investment securities as of June 30, 2017 , will reach maturity between July 2017 and January 2019 , with a weighted-average maturity date in February 2018 . At December 31, 2016, the Company classified all of its available-for-sale investment securities, including those with maturities beyond one year, as current assets on the accompanying balance sheets based on the highly liquid nature of the investment securities and because these investment securities were considered available for use in current operations. However, as of June 30, 2017, the Company reclassified the investment securities with maturity dates beyond one year as non-current assets as the Company does not intend to utilize them to fund current operations.

(Notes)

(Notes)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERT Y AN D EQUIPMENT Property and equipment consists of the following: June 30, 2017 December 31, 2016 (in thousands) Leasehold improvements $ 19,898 $ 12,131 Lab equipment 7,376 5,397 Office furniture 1,599 1,560 Manufacturing equipment 1,694 1,275 Computer and office equipment 947 623 Equipment held under capital leases 204 181 Software 136 85 Total 31,854 21,252 Less: accumulated depreciation (6,396 ) (4,748 ) Property and equipment, net $ 25,458 $ 16,504 During the six months ended June 30, 2017 and 2016, the Company recorded $1.6 million and $1.0 million of depreciation expense, respectively. Leasehold improvements as of June 30, 2017 includes $2.5 million related to costs incurred by the landlord. Property and equipment consists of the following: June 30, 2017 December 31, 2016 (in thousands) Leasehold improvements $ 19,898 $ 12,131 Lab equipment 7,376 5,397 Office furniture 1,599 1,560 Manufacturing equipment 1,694 1,275 Computer and office equipment 947 623 Equipment held under capital leases 204 181 Software 136 85 Total 31,854 21,252 Less: accumulated depreciation (6,396 ) (4,748 ) Property and equipment, net $ 25,458 $ 16,504

Accrued Expenses And Other Curr

Accrued Expenses And Other Current Liabilities	6 Months Ended
	Jun. 30, 2017
Accrued Expenses [Abstract]
Accrued Expenses And Other Current Liabilities	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other liabilities consist of the following: June 30, 2017 December 31, 2016 (in thousands) Accrued construction costs $ 2,304 $ 3,120 Accrued payroll 1,960 1,568 Accrued patient treatment costs 1,702 1,006 Accrued manufacturing costs 1,578 1,704 Accrued other 2,620 1,965 Total accrued expenses and other current liabilities $ 10,164 $ 9,363

Debt

Debt	6 Months Ended
	Jun. 30, 2017
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 Technology II, L.P., and Hercules Technology III, L.P., or collectively, Hercules, as a lender, under which the Company borrowed $15.0 million on the Closing Date. The Company borrowed an additional $5.0 million and $10.0 million on September 15, 2016 and March 8, 2017, respectively. The total debt is secured by a lien covering substantially all of the Company's assets, excluding intellectual property, but including proceeds from the sale, license, or disposition of our intellectual property. 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% , or (ii) 9.35% . The interest rate on amounts borrowed under the Loan Agreement was 9.60% and 10.10% at December 31, 2016 and June 30, 2017, respectively. As a result of the additional borrowing on March 8, 2017, the interest only period was extended for an additional six months through March 2018. Beginning in April 2018, equal monthly payments of principal and interest are due over a 24 month period through the maturity date of March 1, 2020, upon which the remaining principal balance and the final facility charge of $2.1 million will be due and payable. The Company paid expenses related to the Loan Agreement of $0.2 million , which, along with the final facility charge of $2.1 million , have been recorded as deferred financing costs, which offset long-term debt on the Company's balance sheet. The deferred financing costs are being amortized over the term of the loan as interest expense. During the three and six months ended June 30, 2017, interest expense included $222,000 and $380,000 , respectively, of amortized deferred financing costs. During the three and six months ended June 30, 2016, interest expense included $122,000 and $150,000 , respectively, of amortized deferred financing costs. 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.

Stockholders' Equity (Notes)

Stockholders' Equity (Notes)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY On March 29, 2017, the Company completed an underwritten public offering of 5,750,000 shares of its common stock at a price of $12.00 per share, for an aggregate offering size of $69.0 million , pursuant to a registration statement on Form S-3 (File No. 333-209012) that was declared effective by the SEC on February 1, 2016. The net proceeds to the Company, after deducting underwriting discounts, and commissions and offering expenses was approximately $64.6 million . These costs have been recorded as a reduction of the proceeds received from the offering. On June 28, 2017, the Company filed a Registration Statement on Form S-3 (File No. 333-219021) for the offer and sale by the Company of its securities in one or more offerings for up to an aggregate maximum offering price of $150,000,000 (which includes $81,000,000 of unsold securities that were previously registered under the Company’s Registration Statement on Form S-3 (File No. 333-191819), which was filed on January 15, 2016 and declared effective on February 1, 2016). The SEC declared the registration statement effective on July 12, 2017.

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation Plans	SHARE-BASED COMPENSATION PLANS At June 30, 2017 , the Company had share-based awards outstanding under four share-based compensation plans, as follows: 2006 Stock Option Plan 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 June 30, 2017, there were 146,210 shares of common stock reserved for issuance pursuant to outstanding options previously granted under the 2006 Plan. The 2006 Plan was terminated by the Board in October 2014. 2011 Stock Option Plan 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 June 30, 2017, there were 1,712,181 shares of common stock reserved for issuance pursuant to outstanding options previously granted under the 2011 Plan. The 2011 Plan terminated upon the effectiveness of the 2014 Plan described below. 2014 Equity Incentive Plan 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. On June 14, 2017, the stockholders approved an amendment to the 2014 Plan to, among other things, increase the number of shares of common stock authorized for issuance under the 2014 Plan by 3,100,000 shares and eliminate the prior provision in the 2014 Plan that allowed the Company’s Board of Directors to reprice stock options without stockholder approval. The aggregate number of shares of common stock that are authorized for issuance under the 2014 Plan is 6,090,354 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. As of June 30, 2017, there were 3,414,184 shares available for issuance under the 2014 Plan. 2014 Employee Stock Purchase Plan 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 the Company's 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 common stock to participating employees, and allows eligible employees to purchase shares of common stock at a 15% discount from the grant date fair market value. During the six months ended June 30, 2017 and 2016, 19,204 and 17,115 shares were purchased under the ESPP. As of June 30, 2017, there were 475,477 shares available for issuance under the ESPP. A summary of activity within the ESPP follows: Six months ended June 30, 2017 2016 (amounts in thousands) Deductions from employees $ 157 $ 188 Share-based compensation expense recognized $ 136 $ 133 Remaining share-based compensation expense $ 357 $ 134 Share-Based Compensation Expense The valuation of the share-based compensation awards is a significant accounting estimate that requires the use of judgments and assumptions that are likely to have a material impact on the financial statements. The fair value of option grants is determined using the Black-Scholes option-pricing model. Expected volatilities utilized in the model are based on implied volatilities from traded stocks of peer companies. Similarly, the dividend yield is based on historical experience and the estimate of future dividend yields. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The expected term of the options is based on the average period the stock options are expected to remain outstanding. As the Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior, the expected term is calculated as the midpoint between the weighted-average vesting term and the contractual expiration period also known as the simplified method. The fair value of the option grants have been estimated, with the following weighted-average assumptions: Six months ended June 30, 2017 2016 Risk-free interest rate 2.09 % 1.81 % Volatility 71.6 % 72.0 % Expected life (years) 6.08 6.08 Expected dividend yield — % — % At June 30, 2017 , total compensation cost not yet recognized was $24.9 million and the weighted-average period over which this amount is expected to be recognized is 2.3 years. During the three and six months ended June 30, 2017, the Company received cash proceeds from the exercise of stock options of approximately $0.7 million and $1.3 million , respectively. The aggregate intrinsic value of options exercised during the three and six months ended June 30, 2017 was $0.6 million and $2.1 million . Share-based compensation expense by classification for the three and six months ended June 30, 2017 and 2016 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) (in thousands) Research and development $ 1,484 $ 1,374 $ 3,068 $ 2,760 General and administrative 1,706 1,744 3,486 3,423 Total $ 3,190 $ 3,118 $ 6,554 $ 6,183 The following table summarizes the stock option and stock award activity for all stock plans during the six months ended June 30, 2017: Options and Inducement awards Weighted- (in years) Weighted- (in thousands) Aggregate Intrinsic Value (1) December 31, 2016 (2) 4,590,945 $ 12.21 7.59 $ 21,254 Granted (3) 1,020,850 $ 11.35 Exercised (283,166 ) $ 4.58 Forfeited (274,123 ) $ 15.20 Outstanding at June 30, 2017 5,054,506 $ 12.31 7.57 $ 15,305 Exercisable at June 30, 2017 2,621,427 $ 10.41 6.59 $ 12,424 (1) The aggregate intrinsic value is calculated as the fair value of restricted stock, restricted stock units and 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 June 30, 2017. (2) At June 30, 2017 and December 31, 2016, there were 44,119 and 58,825 shares of unvested restricted common stock outstanding, respectively. (3) Includes 500,000 of inducement option awards and 87,500 of restricted stock units granted in the during 2017.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation None.

Basis of Presentation and Man17

Basis of Presentation and Management Plans (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying interim consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and follow 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 condensed consolidated financial statements have been prepared on the same basis as the audited financial statements and include all 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. All such adjustments are normal and recurring in nature. These statements should be read in conjunction with the Company's Annual Report on Form 10-K filed for the fiscal year ended December 31, 2016 (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). The Company has not generated any revenue from product sales to date and, if the Company does not successfully commercialize any of the Company's product candidates, the Company will not be able to generate product revenue or achieve profitability. As of June 30, 2017, the Company had an accumulated deficit of $277.2 million . 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 Polici18

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated 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.
Consolidation	Consolidation All financial information presented includes the accounts of the Company and its wholly-owned subsidiary, for which there has been no activity to date.
Reclassification	Reclassifications Certain prior period amounts in research and development expenses pertaining to license fees have been reclassified and listed separately to conform to the current period presentation. The reclassifications did not impact net loss or net loss per share.
Revenue Recognition	Revenue Recognition The Company has not yet generated any revenue from product sales. The Company’s source of revenue for 2017 and 2016 has been grant revenue related to a $1.3 million research grant from the National Institutes of Health (NIH) covering the period from April 2013 to March 2017. The grant contract with the NIH expired at the end of the first quarter. The Company accrued revenue as work was performed and qualifying costs were incurred.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term, highly liquid investments with maturity of three months or less from the date of purchase to be cash equivalents.
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.
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. 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 based on whether they represent the investment of funds available for current operations, as defined in ASC 210-10-45-1 and ASC 210-10-45-2. The Company reevaluates its classification as of each balance sheet date. All investment securities owned are 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 reported as accumulated other comprehensive gain (loss), a separate component of 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 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 operations and comprehensive loss and establishes a new cost basis in the investment.
Property and Equipment	Property and Equipment Furniture, equipment and software are recorded at cost and are depreciated using the straight-line method over the estimated useful lives of the related assets, which range from three to five years. Leasehold improvements are amortized over the shorter of the estimated useful life or the remaining lease term.
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 and are amortized using the effective interest method. Amortization of debt issuance costs are included in interest expense.
Deferred Rent and Rent	Deferred Rent and Rent The Company recognizes rent expense for leases with increasing annual rents on a straight-line basis over the term of the lease. The amount of rent expense in excess of cash payments is classified as accrued rent. Any lease incentives received are deferred and amortized over the term of the lease.
Build-to-Suit Lease Accounting	Deferred Rent and Rent The Company recognizes rent expense for leases with increasing annual rents on a straight-line basis over the term of the lease. The amount of rent expense in excess of cash payments is classified as accrued rent. Any lease incentives received are deferred and amortized over the term of the lease.
Equity Issuance Costs	Equity Issuance Costs Equity issuance costs represent costs paid to third parties in order to obtain equity financing. These costs have been netted against the proceeds of the equity issuances.
Licenses and Patents	Licenses and Patents Licenses and patent costs for technologies that are utilized in research and development and have no alternative future use are expensed as incurred. Costs related to the license of patents from third parties and internally developed patents are classified as research and development expenses. Legal costs related to patent applications and maintenance are classified as general and administrative expenses.
Clinical Trials	Clinical Trials The Company estimates its clinical trial expense accrual for a given period based on the number of patients enrolled at each site, estimated cost per patient, and the length of time each patient has been in the trial, less amounts previously billed. These accruals are recorded in accrued expenses and other current liabilities, and the related expense is recorded in research and development expense.
Research and Development	Research and Development Research and development expenses consist of expenses incurred in performing research and development activities, including compensation and benefits for research and development employees and consultants, facilities expenses, overhead expenses, cost of laboratory supplies, manufacturing expenses, fees paid to third parties and other outside expenses. Research and development costs are expensed as incurred. Clinical trial and other development costs incurred by third parties are expensed as the contracted work is performed. The Company accrues for costs incurred as the services are being provided by monitoring the status of the clinical trial or project and the invoices received from its external service providers. The Company estimates depend on the timeliness and accuracy of the data provided by the vendors regarding the status of each project and total project spending. The Company adjusts its accrual as actual costs become known. Where contingent milestone payments are due to third parties under research and development arrangements, the milestone payment obligations are expensed when the milestone events are achieved.
Collaboration Agreements	Collaboration Agreements The Company enters into collaboration agreements that include varying arrangements regarding which parties perform and bear the costs of research and development activities. The Company may share the costs of research and development activities with a collaborator, or the Company may be reimbursed for all or a significant portion of the costs of the Company's research and development activities. The Company records its internal and third-party development costs associated with these collaborations as research and development expenses. When the Company is entitled to reimbursement of all or a portion of the research and development expenses that it incurs under a collaboration, the Company records those reimbursable amounts as a deduction to the research and development expenses. If the collaboration is a cost-sharing arrangement in which both the Company and its collaborator perform development work and share costs. The Company also recognizes, as research and development expenses in the period when its collaborator incurs development expenses, the portion of the collaborator's development expenses that the Company is obligated to reimburse.
Contract Manufacturing Services	Contract Manufacturing Services Contract manufacturing services are expensed as incurred. Prepaid expenses are capitalized and amortized as services are performed.
Share-Based Compensation	Share-Based Compensation The Company accounts for its share-based compensation in accordance with ASC 718, Compensation - Stock Compensation , which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors to be recognized in the financial statements, based on their fair value. The Company measures share-based compensation to consultants in accordance with ASC 505-50, Equity-Based Payments to Non-Employees , and recognizes the fair value of the award over the period the services are rendered. The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock option awards. The fair value is recognized as expense, net of estimated forfeitures, over the requisite service period, which is generally the vesting period of the respective award on a straight-line basis.
New Accounting Requirements and Disclosures	Application of New Accounting Standards During 2017, the Company adopted ASU No. 2016-09, “ Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ”, which is intended to simplify the financial reporting of the income tax impacts of share-based compensation arrangements. The classification guidance under ASU No. 2016-09 requires the recognition of excess tax benefits from share-based compensation arrangements as a discrete item within income tax benefit rather than additional paid-in capital and the classification guidance requiring presentation of excess tax benefits from share-based compensation arrangements as an operating activity on the statement of cash flows, rather than as a financing activity. The adoption of ASU No 2016-09 had no immediate impact on our financial statements and related disclosures because the Company does not currently recognize a tax benefit related to share-based compensation expense as we maintain net operating loss carryforwards and have established a valuation allowance against the entire net deferred tax asset as of June 30, 2017. Further, we have elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. In August 2016, the FASB issued ASU 2016-15, “ Classification of Certain Cash Receipts and Cash Payments, ” which provides guidance on the classification of certain cash receipts and payments in the statement of cash flows. The pronouncement is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Earlier application is permitted in any interim or annual period. The Company adopted this standard in 2017. New Accounting Requirements and Disclosures In January 2016, the FASB issued ASU No. 2016-01, “ Recognition and Measurement of Financial Assets and Financial Liabilities .” ASU 2016-01 requires that most equity investments be measured at fair value, with subsequent changes in fair value recognized in net income. The pronouncement also impacts financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is not permitted. The Company does not believe that the adoption of this pronouncement will have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases,” which 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. The Company is currently evaluating the impact of this pronouncement on the Company's consolidated financial statements.

Significant Accounting Polici19

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
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 share of common stock attributable to common stockholders for the periods presented, as the effect of including such securities would be anti-dilutive. As of June 30, 2017 2016 Common Stock Equivalents: Number of shares Options to purchase common stock 4,929,137 4,518,961 Unvested shares of restricted stock units 81,250 — Unvested shares of restricted stock 44,119 88,236 Total common stock equivalents 5,054,506 4,607,197

Cash and Cash Equivalents and20

Cash and Cash Equivalents and Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2017
Cash and Cash Equivalents [Abstract]
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets that sum to the total of the same such amounts shown in the statements of cash flows. June 30, 2017 December 31, 2016 (in thousands) Cash and cash equivalents (1) $ 75,148 $ 33,140 Restricted cash, noncurrent 4,383 9,640 Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 79,531 $ 42,780 (1) As of June 30, 2017 and December 31, 2016, the Company invested approximately $65.1 million and $23.5 million , respectively, in cash equivalent instruments.

Fair Value Measurements and I21

Fair Value Measurements and Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 , 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 $ 65,060 $ 65,060 $ — $ — Total Cash Equivalents $ 65,060 $ 65,060 $ — $ — Investment Securities: U.S. government agency-backed securities $ 19,120 $ — $ 19,120 $ — Corporate debt securities 38,710 — 38,710 — Municipal bonds 1,656 — 1,656 — Total Investment Securities $ 59,486 $ — $ 59,486 $ — 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 $ 23,459 $ 23,459 $ — $ — Total Cash Equivalents $ 23,459 $ 23,459 $ — $ — Investment Securities: U.S. government agency-backed securities $ 25,908 $ — $ 25,908 $ — Corporate debt securities 42,053 — 42,053 — Municipal bonds 2,671 — 2,671 — Total Investment Securities $ 70,632 $ — $ 70,632 $ —
Available-for-sale Securities	Investment securities, all classified as available-for-sale, consisted of the following as of June 30, 2017 and December 31, 2016: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Estimated Fair Value June 30, 2017 (in thousands) Investment Securities: U.S. government agency-backed securities $ 19,145 $ — $ (25 ) $ 19,120 Corporate debt securities 38,691 37 (18 ) 38,710 Municipal bonds 1,656 — — 1,656 Total Investment Securities $ 59,492 $ 37 $ (43 ) $ 59,486

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERT Y AN D EQUIPMENT Property and equipment consists of the following: June 30, 2017 December 31, 2016 (in thousands) Leasehold improvements $ 19,898 $ 12,131 Lab equipment 7,376 5,397 Office furniture 1,599 1,560 Manufacturing equipment 1,694 1,275 Computer and office equipment 947 623 Equipment held under capital leases 204 181 Software 136 85 Total 31,854 21,252 Less: accumulated depreciation (6,396 ) (4,748 ) Property and equipment, net $ 25,458 $ 16,504 During the six months ended June 30, 2017 and 2016, the Company recorded $1.6 million and $1.0 million of depreciation expense, respectively. Leasehold improvements as of June 30, 2017 includes $2.5 million related to costs incurred by the landlord. Property and equipment consists of the following: June 30, 2017 December 31, 2016 (in thousands) Leasehold improvements $ 19,898 $ 12,131 Lab equipment 7,376 5,397 Office furniture 1,599 1,560 Manufacturing equipment 1,694 1,275 Computer and office equipment 947 623 Equipment held under capital leases 204 181 Software 136 85 Total 31,854 21,252 Less: accumulated depreciation (6,396 ) (4,748 ) Property and equipment, net $ 25,458 $ 16,504

Accrued Expenses And Other Cu23

Accrued Expenses And Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Accrued Expenses [Abstract]
Schedule of Accrued Liabilities	Accrued expenses and other liabilities consist of the following: June 30, 2017 December 31, 2016 (in thousands) Accrued construction costs $ 2,304 $ 3,120 Accrued payroll 1,960 1,568 Accrued patient treatment costs 1,702 1,006 Accrued manufacturing costs 1,578 1,704 Accrued other 2,620 1,965 Total accrued expenses and other current liabilities $ 10,164 $ 9,363

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity	A summary of activity within the ESPP follows: Six months ended June 30, 2017 2016 (amounts in thousands) Deductions from employees $ 157 $ 188 Share-based compensation expense recognized $ 136 $ 133 Remaining share-based compensation expense $ 357 $ 134
Valuation Assumptions	The fair value of the option grants have been estimated, with the following weighted-average assumptions: Six months ended June 30, 2017 2016 Risk-free interest rate 2.09 % 1.81 % Volatility 71.6 % 72.0 % Expected life (years) 6.08 6.08 Expected dividend yield — % — %
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	Share-based compensation expense by classification for the three and six months ended June 30, 2017 and 2016 are as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) (in thousands) Research and development $ 1,484 $ 1,374 $ 3,068 $ 2,760 General and administrative 1,706 1,744 3,486 3,423 Total $ 3,190 $ 3,118 $ 6,554 $ 6,183
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the stock option and stock award activity for all stock plans during the six months ended June 30, 2017: Options and Inducement awards Weighted- (in years) Weighted- (in thousands) Aggregate Intrinsic Value (1) December 31, 2016 (2) 4,590,945 $ 12.21 7.59 $ 21,254 Granted (3) 1,020,850 $ 11.35 Exercised (283,166 ) $ 4.58 Forfeited (274,123 ) $ 15.20 Outstanding at June 30, 2017 5,054,506 $ 12.31 7.57 $ 15,305 Exercisable at June 30, 2017 2,621,427 $ 10.41 6.59 $ 12,424 (1) The aggregate intrinsic value is calculated as the fair value of restricted stock, restricted stock units and 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 June 30, 2017.

Basis of Presentation and Man25

Basis of Presentation and Management Plans - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (277,163)	$ (230,733)

Significant Accounting Polici26

Significant Accounting Policies - Common Stock Equivalents (Details) - shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	5,054,506	4,607,197
Equity Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	4,929,137	4,518,961
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	81,250	0
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	44,119	88,236

Significant Accounting Polici27

Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenue from grants	$ 0	$ 101	$ 128	$ 193
National Institutes of Health Grant
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenue from grants			$ 1,300

Cash and Cash Equivalents and28

Cash and Cash Equivalents and Restricted Cash - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 4.4	$ 9.6
Cash equivalent instruments	$ 65.1	$ 23.5

Cash and Cash Equivalents and29

Cash and Cash Equivalents and Restricted Cash - Schedule of Cash, Cash Equivalents & Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 75,148	$ 33,140
Restricted cash	4,383	9,640
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 79,531	$ 42,780

Fair Value Measurements and I30

Fair Value Measurements and Investment Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	$ 59,486	$ 70,632
Fair Value, Measurements, Recurring
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	65,060	23,459
Total Investment Securities	59,486	70,632
Fair Value, Measurements, Recurring | U.S. government agency-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	19,120
Fair Value, Measurements, Recurring | Corporate debt securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	38,710
Fair Value, Measurements, Recurring | Municipal bonds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	1,656
Fair Value, Measurements, Recurring | Money market funds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	65,060	23,459
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	65,060	23,459
Total Investment Securities	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | U.S. 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	65,060	23,459
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Cash Equivalents	0	0
Total Investment Securities	59,486	70,632
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | U.S. government agency-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	19,120
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Corporate debt securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	38,710
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Municipal bonds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	1,656
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 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 | U.S. 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
U.S. government agency-backed securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	19,120	25,908
U.S. government agency-backed securities | Fair Value, Measurements, Recurring
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		25,908
U.S. 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
U.S. government agency-backed securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		25,908
U.S. 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
Corporate debt securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	38,710	42,053
Corporate debt securities | Fair Value, Measurements, Recurring
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		42,053
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		42,053
Corporate debt securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		0
Municipal bonds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities	$ 1,656	2,671
Municipal bonds | Fair Value, Measurements, Recurring
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investment Securities		2,671
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		2,671
Municipal bonds | 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 I31

Fair Value Measurements and Investment Securities - Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 59,492	$ 70,615
Gross Unrealized Gains	37	50
Gross Unrealized Losses	(43)	(33)
Aggregate Estimated Fair Value	59,486	70,632
U.S. government agency-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	19,145	25,906
Gross Unrealized Gains	0	7
Gross Unrealized Losses	(25)	(5)
Aggregate Estimated Fair Value	19,120	25,908
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	38,691	42,040
Gross Unrealized Gains	37	41
Gross Unrealized Losses	(18)	(28)
Aggregate Estimated Fair Value	38,710	42,053
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,656	2,669
Gross Unrealized Gains	0	2
Gross Unrealized Losses	0	0
Aggregate Estimated Fair Value	1,656	2,671
Fair Value, Measurements, Recurring
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value	59,486	70,632
Total Cash Equivalents	65,060	23,459
Fair Value, Measurements, Recurring | U.S. government agency-backed securities
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		25,908
Fair Value, Measurements, Recurring | Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		42,053
Fair Value, Measurements, Recurring | Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		2,671
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value	0	0
Total Cash Equivalents	$ 65,060	23,459
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | U.S. government agency-backed securities
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Aggregate Estimated Fair Value		$ 0

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 31,854	$ 21,252
Less: accumulated depreciation	(6,396)	(4,748)
Property and equipment, net	25,458	16,504
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	19,898	12,131
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	7,376	5,397
Office furniture
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,599	1,560
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,694	1,275
Computer and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	947	623
Equipment under capital lease
Property, Plant and Equipment [Line Items]
Property and equipment, gross	204	181
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 136	$ 85

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 1.6	$ 1
Leasehold improvements	$ 2.5	$ 2.5

Accrued Expenses And Other Cu34

Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accrued Expenses [Abstract]
Accrued construction costs	$ 2,304	$ 3,120
Accrued payroll	1,960	1,568
Accrued patient treatment costs	1,702	1,006
Accrued manufacturing costs	1,578	1,704
Accrued other	2,620	1,965
Total accrued expenses and other current liabilities	$ 10,164	$ 9,363

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands	Mar. 10, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017	Mar. 08, 2017	Dec. 31, 2016	Sep. 15, 2016
Line of Credit Facility [Line Items]
Long-term debt		$ 27,116		$ 27,116				$ 18,436
Payments of debt issuance costs				$ 75	$ 199
Line of Credit | Loan Agreement
Line of Credit Facility [Line Items]
Long-term debt	$ 15,000						$ 10,000		$ 5,000
Percentage bearing fixed interest, percentage rate		10.10%		10.10%				9.60%
Payment terms, principal and interest payments, period 2	24 months
Periodic payment, final payment amount, additional amount, scenario 2		$ 2,100		$ 2,100
Debt instrument, aggregate payment amount on final facility charge	$ 2,100
Payments of debt issuance costs				200
Amortization of financing costs and discounts		$ 222	$ 122	$ 380	$ 150
Scenario One | Line of Credit | Loan Agreement
Line of Credit Facility [Line Items]
Percentage bearing fixed interest, percentage rate						9.35%
Scenario One | Line of Credit | Loan Agreement | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate				3.50%
Scenario Two | Line of Credit | Loan Agreement
Line of Credit Facility [Line Items]
Percentage bearing fixed interest, percentage rate		9.35%		9.35%

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	Jun. 28, 2017	Mar. 29, 2017	Jun. 30, 2017	Jun. 30, 2016
Subsidiary, Sale of Stock [Line Items]
Proceeds from follow-up offering			$ 167,000	$ 188,000
Follow-Up Offering
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction		5,750,000
Sale of stock, price per share (in usd per share)		$ 12
Proceeds from follow-up offering	$ 150,000,000	$ 69,000,000
Proceeds from follow-up offering, net		$ 64,600,000
Proceeds from follow-up offering previously unsold securities	$ 81,000,000

Share-Based Compensation Plan37

Share-Based Compensation Plans - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017USD ($)shares	Jun. 30, 2017USD ($)planshares	Jun. 30, 2016USD ($)shares	Jun. 14, 2017shares	Dec. 31, 2016shares	Dec. 31, 2014shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans | plan		4
Shares purchased under ESPP		19,204	17,115
Compensation cost not yet recognized | $	$ 24.9	$ 24.9
Period for recognition		2 years 3 months
Cash received from exercise of stock options | $	$ 0.7	$ 1.3
Intrinsic value of options, exercises in period | $		$ 0.6	$ 2.1
Equity instruments other than options, nonvested	44,119	44,119			58,825
2006 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	146,210	146,210
2011 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	1,712,181	1,712,181
2014 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				3,100,000
2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capital shares reserved for future issuance	475,477	475,477
Number of shares available for grant						550,000

Share-Based Compensation Plan38

Share-Based Compensation Plans - Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 6,554	$ 6,183
2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deductions from employees	157	188
Share-based compensation expense recognized	136	133
Share-based compensation	$ 357	$ 134

Share-Based Compensation Plan39

Share-Based Compensation Plans - Valuation Assumptions (Details)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rate	2.09%	1.81%
Volatility	71.60%	72.00%
Expected life (years)	6 years 29 days	6 years 29 days
Expected dividend yield	0.00%	0.00%

Share-Based Compensation Plan40

Share-Based Compensation Plans - Schedule of Compensation Cost for Share-Based Payment Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 3,190	$ 3,118	$ 6,554	$ 6,183
Research and Development Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	1,484	1,374	3,068	2,760
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 1,706	$ 1,744	$ 3,486	$ 3,423

Share-Based Compensation Plan41

Share-Based Compensation Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Options and Inducement awards
December 31, 2016 (shares)	4,590,945
Granted (shares)	1,020,850
Exercised (shares)	(283,166)
Forfeited (shares)	(274,123)
Outstanding at March 31, 2017 (shares)	5,054,506	4,590,945
Exercisable December 31, 2016 (shares)	2,621,427
Weighted- Average Exercise Price Per Share
December 31, 2016 (usd per share)	$ 12.21
Granted (usd per share)	11.35
Exercised (usd per share)	4.58
Forfeited (usd per share)	15.20
Outstanding at March 31, 2017 (usd per share)	12.31	$ 12.21
Exercisable at March 31, 2017 (usd per share)	$ 10.41
Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term, Outstanding	7 years 6 months 26 days	7 years 7 months 2 days
Weighted Average Remaining Contractual Term, Exercisable	6 years 7 months 4 days
Aggregate Intrinsic Value, Outstanding	$ 15,305	$ 21,254
Aggregate Intrinsic Value, Exercisable	$ 12,424
Stock options
Options and Inducement awards
Granted (shares)	500,000
Restricted Stock Units (RSUs)
Options and Inducement awards
Granted (shares)	87,500