NanoString (NSTG) 10-Q 3 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	NSTG
Entity Registrant Name	NANOSTRING TECHNOLOGIES INC
Entity Central Index Key	1,401,708
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		19,506,957

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 16,635	$ 17,223
Short-term investments	28,726	55,002
Accounts receivable, net	12,903	12,436
Inventory	11,699	5,444
Prepaid expenses and other	4,602	5,242
Total current assets	74,565	95,347
Restricted cash	143	143
Deferred offering costs	137	0
Property and equipment, net	7,371	6,366
Other assets	788	892
Total assets	83,004	102,748
Current liabilities:
Accounts payable	2,561	3,380
Accrued liabilities	7,348	10,403
Deferred revenue, current portion	5,635	4,627
Deferred rent, current portion	202	147
Long-term debt, current portion	259	251
Total current liabilities	16,005	18,808
Deferred revenue, net of current portion	6,214	7,135
Deferred rent, net of current portion	2,273	1,317
Long-term debt, net of current portion	31,326	30,675
Total liabilities	$ 55,818	$ 57,935
Commitment and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value, 15,000 shares authorized; none issued	$ 0	$ 0
Common stock, $0.0001 par value, 150,000 shares authorized; 19,506 and 18,272 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	2	2
Additional paid-in-capital	240,823	221,724
Accumulated other comprehensive loss	(4)	(43)
Accumulated deficit	(213,635)	(176,870)
Total stockholders' equity	27,186	44,813
Total liabilities and stockholders' equity	$ 83,004	$ 102,748

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	19,506,000	18,272,000
Common stock, shares outstanding	19,506,000	18,272,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue:
Product and service	$ 13,910	$ 11,264	$ 37,240	$ 30,278
Collaboration	1,783	1,079	3,112	1,697
Total revenue	15,693	12,343	40,352	31,975
Costs and expenses:
Cost of product and service revenue	6,289	5,271	17,500	14,456
Research and development	5,812	5,961	17,526	15,967
Selling, general and administrative	12,036	12,515	38,984	36,069
Total costs and expenses	24,137	23,747	74,010	66,492
Loss from operations	(8,444)	(11,404)	(33,658)	(34,517)
Other income (expense):
Interest income	58	65	181	204
Interest expense	(1,022)	(697)	(3,007)	(3,248)
Other expense, net	(59)	(112)	(281)	(97)
Total other income (expense), net	(1,023)	(744)	(3,107)	(3,141)
Net loss	$ (9,467)	$ (12,148)	$ (36,765)	$ (37,658)
Net loss per share - basic and diluted	$ (0.49)	$ (0.67)	$ (1.95)	$ (2.13)
Weighted average shares used in computing basic and diluted net loss per share	19,431	18,134	18,862	17,711

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (9,467)	$ (12,148)	$ (36,765)	$ (37,658)
Change in unrealized gain (loss) on short-term investments	25	(28)	39	(43)
Comprehensive loss	$ (9,442)	$ (12,176)	$ (36,726)	$ (37,701)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net loss	$ (36,765)	$ (37,658)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,420	1,115
Stock-based compensation expense	4,749	3,604
Net amortization of premium on short-term investments	287	127
Amortization of debt discount	0	51
Loss on extinguishment of debt	0	581
Interest accrued on long-term notes	0	(348)
Accrued interest converted to principal balance of term loan	815	179
Loss on sale of property and equipment	2	0
Gain on sale of investments	0	(5)
Changes in operating assets and liabilities
Accounts receivable, net	(467)	(6,935)
Inventory	(6,769)	(1,198)
Prepaid expenses and other	634	(1,218)
Other assets	104	120
Accounts payable	(857)	(1,210)
Accrued liabilities	(3,013)	667
Deferred revenue	87	9,328
Deferred rent	1,011	(382)
Net cash used in operating activities	(38,762)	(33,182)
Investing activities
Purchases of property and equipment	(1,847)	(1,284)
Sale of property and equipment	20	0
Decrease in restricted cash	0	59
Proceeds from sale of short-term investments	3,000	4,500
Proceeds from maturity of short-term investments	46,178	26,675
Purchases of short-term investments	(23,150)	(47,271)
Net cash provided by (used in) investing activities	24,201	(17,321)
Financing activities
Borrowings under long-term debt agreements	0	20,000
Deferred costs related to long-term debt agreement	0	(770)
Repayment of long-term debt	(203)	(18,151)
Deferred offering costs	(137)	0
Proceeds from public offering, net	0	57,015
Proceeds from sale of common stock, net	12,508	0
Proceeds from exercise of common stock warrants	0	230
Repurchase of shares related to common stock warrant exercise	0	(94)
Proceeds from issuance of common stock for employee stock purchase plan	1,296	988
Proceeds from exercise of stock options	546	170
Net cash provided by financing activities	14,010	59,388
Net (decrease) increase in cash and cash equivalents	(551)	8,885
Effect of exchange rate changes on cash and cash equivalents	(37)	0
Cash and cash equivalents
Beginning of period	17,223	9,941
End of period	$ 16,635	$ 18,826

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Description of Business	1. Description of Business NanoString Technologies, Inc. (the “Company”) was incorporated in the state of Delaware on June 20, 2003. The Company’s headquarters are located in Seattle, Washington. The Company’s technology enables direct detection, identification and quantification of individual target molecules in a biological sample by attaching a unique color coded fluorescent reporter to each target molecule of interest. The Company markets its proprietary nCounter Analysis System, consisting of instruments and consumables, including its Prosigna Breast Cancer Assay, to academic, government, biopharmaceutical and clinical laboratory customers. The Company has incurred losses to date and expects to incur additional losses in the foreseeable future. The Company continues to devote the majority of its resources to the growth of its business in accordance with its business plan. The Company’s activities have been financed primarily through the sale of equity securities, incurrence of indebtedness and, to a lesser extent, capital leases and other borrowings. Sales Agreement On May 11, 2015, the Company entered into a sales agreement (the “Sales Agreement”) with Cowen and Company, LLC (“Cowen”) to sell shares of the Company’s common stock having aggregate sales proceeds of up to $40.0 million, from time to time, through an “at the market” equity offering program under which Cowen will act as sales agent. Under the Sales Agreement, the Company sets the parameters for the sale of shares, including the number of shares to be issued, the time period during which sales are requested to be made, limitation on the number of shares that may be sold in any one trading day and any minimum price below which sales may not be made. The Sales Agreement provides that Cowen will be entitled to compensation for its services that will not exceed, but may be lower than, 3% of the gross sales price per share sold through them under the Sales Agreement. The Sales Agreement shall automatically terminate upon the issuance and sale of placement shares equaling sales proceeds of $40.0 million and may be terminated earlier by either the Company or Cowen upon five days’ notice. As of September 30, 2015, the Company has sold an aggregate of 960,400 shares of the Company’s common stock for total gross proceeds of $13.0 million. The net proceeds from the sale of the shares, after deducting Cowen’s commission and other expenses of the offering, were approximately $12.5 million. As of September 30, 2015, approximately $27.0 million of the Company’s common stock remained available for sale under the “at the market” equity offering program. As of September 30, 2015, the Company’s deferred offering costs balance was $0.1 million.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect the accounts of the Company and its wholly-owned subsidiaries. The unaudited condensed consolidated balance sheet at December 31, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and disclosures required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for annual financial statements. These unaudited condensed consolidated financial statements and notes should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and U.S. GAAP for unaudited condensed consolidated financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair statement of the Company’s financial position and results of its operations, as of and for the periods presented. Unless indicated otherwise, all amounts presented in financial tables are presented in thousands, except for per share and par value amounts. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The results of the Company’s operations for the three and nine month periods ended September 30, 2015 are not necessarily indicative of the results to be expected for the full year or for any other period. Revenue Recognition The Company recognizes revenue when (1) persuasive evidence of an arrangement exists, (2) delivery has occurred or services have been rendered, (3) the price to the customer is fixed or determinable and (4) collectability is reasonably assured. The Company generates the majority of its revenue from the sale of products and services. The Company’s products consist of its proprietary nCounter Analysis Systems and related consumables. Services consist of extended warranties and service fees for assay processing. A delivered product or service is considered to be a separate unit of accounting when it has value to the customer on a stand-alone basis. Products or services have value on a stand-alone basis if they are sold separately by any vendor or the customer could resell the delivered product. Instruments, consumables and in vitro Service revenue is recognized when earned, which is generally upon the rendering of the related services. Service agreements and service fees for assay processing are each considered separate units of accounting as they are sold separately. The Company offers service agreements on its nCounter Analysis Systems for periods ranging from 12 to 36 months after the end of the standard 12-month warranty period. Service agreements are generally separately priced. Revenue from service agreements is deferred and recognized in income on a straight-line basis over the service period. For arrangements with multiple deliverables, the Company allocates the agreement consideration at the inception of the agreement to the deliverables based upon their relative selling prices. To date, selling prices have been established by reference to vendor specific objective evidence based on stand-alone sales transactions for each deliverable. Vendor specific objective evidence is considered to have been established when a substantial majority of individual sales transactions within the previous 12 month period fall within a reasonably narrow range, which the Company has defined to be plus or minus 15% of the mean sales price of actual stand-alone sales transactions. The Company uses its best estimate of selling price for individual deliverables when vendor specific objective evidence or third-party evidence is unavailable. Allocated revenue is only recognized for each deliverable when the revenue recognition criteria have been met. The Company enters into collaborative agreements that may generate upfront fees with subsequent milestone payments that may be earned upon completion of development-related milestones. The Company is able to estimate the total cost of services under the arrangements and recognizes collaboration revenue using a proportional performance model. Costs incurred to date compared to total expected costs are used to determine proportional performance, as this is considered to be representative of the delivery of outputs under the arrangements. Revenue recognized at any point in time is limited to cash received and amounts contractually due. Changes in estimates of total expected costs are accounted for prospectively as a change in estimate. From period to period, collaboration revenue can fluctuate substantially based on the achievement of development-related milestones. Recent Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. In May 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update entitled “ASU 2014-09, Revenue from Contracts with Customers.” The standard requires entities to recognize revenue through the application of a five step model, which includes identification of the contract, identification of the performance obligations, determination of the transaction price, allocation of the transaction price to the performance obligations, and recognition of revenue as the entity satisfies the performance obligations. In August 2015, FASB issued an accounting standards update entitled “ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date.” The amendments in this update defer the effective date of ASU 2014-09 for all entities by one year. The standard will become effective for the Company for the year ended December 31, 2018. The Company is currently evaluating the guidance to determine the potential impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In June 2014, FASB issued an accounting standards update entitled “ASU 2014-12, Compensation – Stock Compensation.” The standard requires entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The standard will become effective for the Company beginning January 1, 2016. The Company is currently evaluating the guidance to determine the potential impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In August 2014, FASB issued an accounting standards update entitled “ASU 2014-15, Presentation of Financial Statements – Going Concern.” The standard requires entities to evaluate for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). The standard will become effective for the Company beginning January 1, 2016. In April 2015, FASB issued an accounting standards update entitled “ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs.” The standard requires entities to present debt issuance costs on the balance sheets as a direct deduction from the related debt liability rather than as an asset, and the amortization is reported as interest expense. The standard will become effective for the Company beginning January 1, 2016. The Company is currently evaluating the guidance to determine the potential impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In July 2015, FASB issued an accounting standards update entitled “ASU 2015-11, Inventory: Simplifying the Measurement of Inventory.” The standard requires entities to measure inventory at the lower of cost and net realizable value. The standard will become effective for the Company beginning January 1, 2017. The Company is currently evaluating the guidance to determine the potential impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Net Loss Per Share	3. Net Loss Per Share Net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding. Any outstanding stock options and warrants have not been included in the calculation of the diluted net loss per share because to do so would be anti-dilutive. Accordingly, the numerator and the denominator used in computing both basic and diluted net loss per share for each period are the same. The following shares underlying outstanding options and warrants were excluded from the computation of basic and diluted net loss per share for the periods presented because their effect would have been anti-dilutive (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Options to purchase common stock 4,208 3,294 4,025 3,098 Restricted stock units 15 — 15 — Common stock warrants 572 585 572 601

Concentration of Risks

Concentration of Risks	9 Months Ended
	Sep. 30, 2015
Risks and Uncertainties [Abstract]
Concentration of Risks	4. Concentration of Risks Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments and accounts receivable. Cash is invested in accordance with the Company’s investment policy, which includes guidelines intended to minimize and diversify credit risk. Most of the Company’s investments are not federally insured. The Company has credit risk related to the collectability of its accounts receivable. The Company performs initial and ongoing evaluations of its customers’ credit history or financial position and generally extends credit on account without collateral. The Company has not experienced any significant credit losses to date as a result of credit risk concentration. The Company had one customer that individually represented more than 10% of total revenue during the three months ended September 30, 2015 and none during the three months ended September 30, 2014. The Company had no customers that individually represented more than 10% of total revenue during the nine months ended September 30, 2015 and 2014. The Company had no customers that represented more than 10% of total accounts receivable as of September 30, 2015 and one customer that represented more than 10% of total accounts receivable as of December 31, 2014. The Company is also subject to supply chain risks related to the outsourcing of the manufacturing and production of its instruments to sole suppliers. Although there are a limited number of manufacturers for instruments of this type, the Company believes that other suppliers could provide similar products on comparable terms. Similarly, the Company sources certain raw materials used in the manufacture of consumables from certain sole suppliers. A change in suppliers could cause a delay in manufacturing and a possible loss of sales, which would adversely affect operating results.

Short-term Investments

Short-term Investments	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Short-term Investments	5. Short-term Investments Short-term investments consisted of available-for-sale securities as follows (in thousands): Type of security as of September 30, 2015 Amortized Gross Gross Fair value Corporate debt securities $ 28,300 $ 5 $ (9 ) $ 28,296 Asset-backed securities 430 — — 430 Total available-for-sale securities $ 28,730 $ 5 $ (9 ) $ 28,726 Type of security as of December 31, 2014 Amortized Gross Gross Fair value U.S. government-related debt securities $ 4,502 $ — $ (4 ) $ 4,498 Corporate debt securities 47,345 2 (40 ) 47,307 Asset-backed securities 3,198 — (1 ) 3,197 Total available-for-sale securities $ 55,045 $ 2 $ (45 ) $ 55,002 The fair values of available-for-sale securities by contractual maturity were as follows (in thousands): Contractual maturity September 30, 2015 December 31, 2014 Maturing in one year or less $ 28,726 $ 51,235 Maturing in one to three years — 3,767 Total available-for-sale securities $ 28,726 $ 55,002 The following table summarizes investments that have been in a continuous unrealized loss position as of September 30, 2015 (in thousands): Less Than 12 Months 12 Months or Total Fair Gross Fair Gross Fair Gross Corporate debt securities $ 13,275 $ (8 ) $ 2,000 $ (1 ) $ 15,275 $ (9 ) Total $ 13,275 $ (8 ) $ 2,000 $ (1 ) $ 15,275 $ (9 ) The Company invests in securities that are rated investment grade or better. The unrealized losses on investments as of September 30, 2015 and December 31, 2014 were primarily caused by interest rate increases. The Company reviews the individual securities in its portfolio to determine whether a decline in a security’s fair value below the amortized cost basis is other-than-temporary. The Company determined that as of September 30, 2015, there were no investments in its portfolio that were other-than-temporarily impaired.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements The Company establishes the fair value of its assets and liabilities using the price that would be received to sell an asset or paid to transfer a financial liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is used to measure fair value. The three levels of the fair value hierarchy are as follows: Level 1: Quoted prices in active markets for identical assets and liabilities. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3: Valuations derived from valuation techniques in which one or more significant inputs and significant value drivers are unobservable. The recorded amounts of certain financial instruments, including cash, accounts receivable, prepaid expenses and other, accounts payable and accrued liabilities, approximate fair value due to their relatively short-term maturities. The recorded amount of the Company’s long-term debt approximates fair value because the related interest rates approximate rates currently available to the Company. The Company’s available-for-sale securities by level within the fair value hierarchy were as follows (in thousands): As of September 30, 2015 Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 15,508 $ — $ — $ 15,508 Short-term investments: Corporate debt securities — 28,296 — 28,296 Asset-backed securities — 430 — 430 Total $ 15,508 $ 28,726 $ — $ 44,234 As of December 31, 2014 Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 13,426 $ — $ — $ 13,426 Short-term investments: U.S. government-related debt securities — 4,498 — 4,498 Corporate debt securities — 47,307 — 47,307 Asset-backed securities — 3,197 — 3,197 Total $ 13,426 $ 55,002 $ — $ 68,428

Inventory

Inventory	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventory	7. Inventory Inventory consisted of the following as of the date indicated (in thousands): September 30, 2015 December 31, 2014 Raw materials $ 5,064 $ 1,299 Work in process 2,704 2,157 Finished goods 3,931 1,988 $ 11,699 $ 5,444

Reserve for Product Warranties

Reserve for Product Warranties	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Reserve for Product Warranties	8. Reserve for Product Warranties The Company generally provides a one-year warranty on its nCounter Analysis Systems and establishes an accrual based on historical product repair rates and actual warranty costs incurred. Warranty expense is recorded as a component of cost of product and service revenue in the condensed consolidated statements of operations. The following information reconciles changes in the Company’s warranty reserve and related costs (in thousands): Warranty reserve, December 31, 2014 $ 503 Cost of warranty claims and expiry of contracts (90 ) Warranty accrual 60 Warranty reserve, March 31, 2015 473 Cost of warranty claims and expiry of contracts (24 ) Warranty accrual 67 Warranty reserve, June 30, 2015 $ 516 Cost of warranty claims and expiry of contracts (318 ) Warranty accrual 35 Warranty reserve, September 30, 2015 $ 233

Long-term Debt and Obligations

Long-term Debt and Obligations	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-term Debt and Obligations	9. Long-term Debt and Obligations In April 2014, the Company entered into a term loan agreement under which it may borrow up to $45.0 million, or up to an aggregate of approximately $51.0 million if the Company elects to exercise in full an option to defer payment of a portion of the interest that would accrue on the borrowing under the term loan agreement. Upon initial closing, the Company borrowed $20.0 million, the proceeds of which were primarily used to repay the outstanding balance under a previous credit facility plus a related $1.0 million end of term payment, a $0.3 million make-whole premium, and interest accrued. The Company incurred and recorded a total charge to interest expense of $1.4 million related to the repayment of its previous credit facility including a loss on extinguishment of debt of $0.6 million in the second quarter of 2014. In October 2014, the Company borrowed an additional $10.0 million under the term loan agreement. The original agreement allowed the Company to borrow up to an additional $15.0 million under the agreement no later than May 2015. On April 16, 2015, the Company was granted an extension of six months, to November 2015, to borrow the additional $15.0 million under the agreement, subject to a revenue requirement. All borrowings under the term loan agreement accrue interest at 12.5% annually, payable quarterly, of which 3.5% can be deferred during the first four years of the term at the Company’s option and paid together with the principal. During 2014 and 2015, the Company exercised its option to defer payment of the 3.5% accrued interest and has deferred a total of $1.2 million as of September 30, 2015, which will be repaid together with principal. Principal payments are due in four equal installments during the sixth year of the term. The Company has the option to prepay the term loans, in whole or in part, at any time subject to payment of a redemption fee of up to 4%, which declines over the term. The term loan agreement contains customary conditions to borrowings, events of default and negative covenants, including covenants that could limit the Company’s ability to, among other things, incur additional indebtedness, liens or other encumbrances, make dividends or other distributions; buy, sell or transfer assets; engage in any new line of business; and enter into certain transactions with affiliates. The term loan agreement also includes liquidity and revenue-based financial covenants. The Company must satisfy certain minimum annual revenue requirements, specifically $55.0 million for 2015 with annual increases of $15.0 million for each fiscal year thereafter. If the Company’s actual revenues are below the minimum annual revenue requirement for any given year, the Company may avoid a related default by generating proceeds from an equity or subordinated debt issuance equal to the shortfall between its actual revenues and the minimum revenue requirement. The Company was in compliance with its covenants as of September 30, 2015. The Company’s obligations under the term loan agreement are collateralized by substantially all of its assets. Borrowings, including current portion, consisted of the following (in thousands): September 30, 2015 December 31, 2014 Term loans payable $ 31,234 $ 30,420 Capital leases 351 506 31,585 30,926 Less: Current portion (259 ) (251 ) Non-current portion $ 31,326 $ 30,675 Scheduled future principal payments under outstanding debt obligations were as follows at September 30, 2015 (in thousands): 2015 $ 68 2016 226 2017 57 2018 — 2019 23,426 Thereafter 7,808 $ 31,585

Collaboration Agreements

Collaboration Agreements	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration Agreements	10. Collaboration Agreements The Company uses a proportional performance model to recognize collaboration revenue over the Company’s performance period for the related collaboration agreement. Costs incurred to date compared to total expected costs are used to determine proportional performance, as this is considered to be representative of the delivery of outputs under the arrangement. Revenue recognized at any point in time is limited to cash received and amounts contractually due. Changes in estimates of total expected costs are accounted for prospectively as a change in estimate. All amounts received or due are classified as collaboration revenue as they are earned. Celgene Corporation In March 2014, the Company entered into a collaboration agreement with Celgene Corporation (“Celgene”) to develop, seek regulatory approval for, and commercialize a companion diagnostic assay for use in screening patients with Diffuse Large B-Cell Lymphoma. The Company received an upfront payment of $5.8 million upon its delivery of certain information to Celgene, and is eligible to receive up to $17.0 million in success-based milestone payments related to development and regulatory milestones. The Company will retain all commercial rights to the diagnostic test developed under this collaboration, subject to certain backup rights granted to Celgene to commercialize the diagnostic test in a particular country if the Company elects to cease distribution or elect not to distribute the diagnostic in such country. Assuming success in the clinical trial process, and subject to regulatory approval, the Company will market and sell the diagnostic assay and Celgene has agreed to make certain potential commercial payments to the Company in the event sales of the assay do not exceed certain pre-specified minimum annual revenues during the first three years following regulatory approval. The Company achieved and was paid for milestones totaling $6.0 million during 2014. The process of successfully developing a product candidate, obtaining regulatory approval and ultimately commercializing a product candidate is highly uncertain and the attainment of any additional milestones is therefore uncertain and difficult to predict. In addition, certain milestones are outside the Company’s control and are dependent on the performance of Celgene and the outcome of a clinical trial and related regulatory processes. Accordingly, the Company is not able to reasonably estimate when, if at all, any additional milestone payments may be payable to the Company by Celgene. The Company recognized collaboration revenue related to the Celgene agreement of $0.2 million and $1.1 million for the three months ended September 30, 2015 and 2014, respectively, and $1.2 million and $1.7 million for the nine months ended September 30, 2015 and 2014, respectively. At September 30, 2015, the Company had recorded $7.6 million of deferred revenue related to the Celgene collaboration, of which $2.1 million is estimated to be recognized as revenue within one year. Merck & Co., Inc. In May 2015, the Company entered into a clinical research collaboration agreement with Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc. (“Merck”), to develop an assay that will optimize immune-related gene expression signatures and evaluate the potential to predict benefit from Merck’s anti-PD-1 therapy, KEYTRUDA, in multiple tumor types. The Company will receive up to $4.0 million in payments and the agreement is expected to be completed within one year. If successful, Merck and the Company intend to negotiate in good faith a separate agreement that would govern and fund the development and commercialization of any companion diagnostic assay resulting from the first phase of the collaboration. The Company recognized collaboration revenue of $1.6 million and $1.8 million related to the Merck agreement for the three and nine months ended September 30, 2015, respectively, and none for 2014. As of September 30, 2015, the Company had recorded $1.3 million of deferred revenue related to the Merck collaboration, all of which is estimated to be recognized as revenue within one year.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies From time to time, the Company may become involved in litigation relating to claims arising from the ordinary course of business. Management believes that there are no claims or actions pending against the Company currently, the ultimate disposition of which would have a material adverse effect on the Company’s consolidated results of operation, financial condition or cash flows.

Information about Geographic Ar

Information about Geographic Areas	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Information about Geographic Areas	12. Information about Geographic Areas The Company operates as a single reportable segment and primarily enables customers to perform both research and clinical testing on its nCounter Analysis Systems. The Company has one sales force that sells these systems to both research and clinical testing labs, and has launched its first product, nCounter Elements reagents, that can be used for both research and diagnostic testing. In addition, the Company’s Prosigna Breast Cancer Assay is marketed to clinical laboratories. The Company has also entered into collaboration agreements with Celgene and Merck. The following table of total revenue is based on the geographic location of the Company’s customers, distributors and collaborators. For sales to distributors, their geographic location may be different from the geographic locations of the ultimate end user. Americas consists of the United States, Canada, Mexico and South America; and Asia Pacific includes Japan, China, South Korea, Singapore, Malaysia and Australia. Total revenue by geography was as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Americas $ 10,929 $ 8,049 $ 26,584 $ 21,425 Europe & Middle East 3,400 2,385 9,355 6,278 Asia Pacific 1,364 1,909 4,413 4,272 Total revenue $ 15,693 $ 12,343 $ 40,352 $ 31,975 Total revenue in the United States was $9.6 million and $7.0 million for the three months ended September 30, 2015 and 2014, respectively, and $24.5 million and $19.2 million for the nine months ended September 30, 2015 and 2014, respectively. The Company’s assets are primarily located in the United States and not allocated to any specific geographic region. Substantially all of the Company’s long-lived assets are located in the United States.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events On October 30, 2015, the term loan agreement was amended such that the Company may borrow up to $60.0 million, or up to an aggregate of approximately $70.0 million if the Company elects to exercise in full an option to defer payment of a portion of the interest that accrues on borrowings under the term loan agreement. In addition to the $30.0 million borrowed to date, the Company has committed to borrow an additional $10.0 million no later than December 31, 2015 and an additional $5.0 million no later than June 30, 2016, which will bring total borrowings under the term loan agreement to $45.0 million. In addition, the Company has the option to borrow up to an additional $15.0 million under the agreement no later than December 31, 2016. The amendment extended by two years the term of the agreement, the period during which only interest is payable, and the period during which the company may defer payment of a portion of the interest otherwise payable. Also, the amendment reduces the interest rate from 12.5% to 12.0%, of which 3.0% may be deferred during the first six years at the Company’s option and be repaid together with principal. In consideration of these changes, the Company agreed to pay a fee equal to 2% of the total amount borrowed under the term loan agreement at the time the principal is repaid. All other provisions of the agreement remain unchanged.

Basis of Presentation and Sum20

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect the accounts of the Company and its wholly-owned subsidiaries. The unaudited condensed consolidated balance sheet at December 31, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and disclosures required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for annual financial statements. These unaudited condensed consolidated financial statements and notes should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and U.S. GAAP for unaudited condensed consolidated financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair statement of the Company’s financial position and results of its operations, as of and for the periods presented. Unless indicated otherwise, all amounts presented in financial tables are presented in thousands, except for per share and par value amounts. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The results of the Company’s operations for the three and nine month periods ended September 30, 2015 are not necessarily indicative of the results to be expected for the full year or for any other period.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when (1) persuasive evidence of an arrangement exists, (2) delivery has occurred or services have been rendered, (3) the price to the customer is fixed or determinable and (4) collectability is reasonably assured. The Company generates the majority of its revenue from the sale of products and services. The Company’s products consist of its proprietary nCounter Analysis Systems and related consumables. Services consist of extended warranties and service fees for assay processing. A delivered product or service is considered to be a separate unit of accounting when it has value to the customer on a stand-alone basis. Products or services have value on a stand-alone basis if they are sold separately by any vendor or the customer could resell the delivered product. Instruments, consumables and in vitro Service revenue is recognized when earned, which is generally upon the rendering of the related services. Service agreements and service fees for assay processing are each considered separate units of accounting as they are sold separately. The Company offers service agreements on its nCounter Analysis Systems for periods ranging from 12 to 36 months after the end of the standard 12-month warranty period. Service agreements are generally separately priced. Revenue from service agreements is deferred and recognized in income on a straight-line basis over the service period. For arrangements with multiple deliverables, the Company allocates the agreement consideration at the inception of the agreement to the deliverables based upon their relative selling prices. To date, selling prices have been established by reference to vendor specific objective evidence based on stand-alone sales transactions for each deliverable. Vendor specific objective evidence is considered to have been established when a substantial majority of individual sales transactions within the previous 12 month period fall within a reasonably narrow range, which the Company has defined to be plus or minus 15% of the mean sales price of actual stand-alone sales transactions. The Company uses its best estimate of selling price for individual deliverables when vendor specific objective evidence or third-party evidence is unavailable. Allocated revenue is only recognized for each deliverable when the revenue recognition criteria have been met. The Company enters into collaborative agreements that may generate upfront fees with subsequent milestone payments that may be earned upon completion of development-related milestones. The Company is able to estimate the total cost of services under the arrangements and recognizes collaboration revenue using a proportional performance model. Costs incurred to date compared to total expected costs are used to determine proportional performance, as this is considered to be representative of the delivery of outputs under the arrangements. Revenue recognized at any point in time is limited to cash received and amounts contractually due. Changes in estimates of total expected costs are accounted for prospectively as a change in estimate. From period to period, collaboration revenue can fluctuate substantially based on the achievement of development-related milestones.
Recent Accounting Pronouncements	Recent Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. In May 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update entitled “ASU 2014-09, Revenue from Contracts with Customers.” The standard requires entities to recognize revenue through the application of a five step model, which includes identification of the contract, identification of the performance obligations, determination of the transaction price, allocation of the transaction price to the performance obligations, and recognition of revenue as the entity satisfies the performance obligations. In August 2015, FASB issued an accounting standards update entitled “ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date.” The amendments in this update defer the effective date of ASU 2014-09 for all entities by one year. The standard will become effective for the Company for the year ended December 31, 2018. The Company is currently evaluating the guidance to determine the potential impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In June 2014, FASB issued an accounting standards update entitled “ASU 2014-12, Compensation – Stock Compensation.” The standard requires entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The standard will become effective for the Company beginning January 1, 2016. The Company is currently evaluating the guidance to determine the potential impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In August 2014, FASB issued an accounting standards update entitled “ASU 2014-15, Presentation of Financial Statements – Going Concern.” The standard requires entities to evaluate for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). The standard will become effective for the Company beginning January 1, 2016. In April 2015, FASB issued an accounting standards update entitled “ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs.” The standard requires entities to present debt issuance costs on the balance sheets as a direct deduction from the related debt liability rather than as an asset, and the amortization is reported as interest expense. The standard will become effective for the Company beginning January 1, 2016. The Company is currently evaluating the guidance to determine the potential impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In July 2015, FASB issued an accounting standards update entitled “ASU 2015-11, Inventory: Simplifying the Measurement of Inventory.” The standard requires entities to measure inventory at the lower of cost and net realizable value. The standard will become effective for the Company beginning January 1, 2017. The Company is currently evaluating the guidance to determine the potential impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures.
Net Loss Per Share	Net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding. Any outstanding stock options and warrants have not been included in the calculation of the diluted net loss per share because to do so would be anti-dilutive. Accordingly, the numerator and the denominator used in computing both basic and diluted net loss per share for each period are the same.
Fair Value Measurements	The Company establishes the fair value of its assets and liabilities using the price that would be received to sell an asset or paid to transfer a financial liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is used to measure fair value. The three levels of the fair value hierarchy are as follows: Level 1: Quoted prices in active markets for identical assets and liabilities. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3: Valuations derived from valuation techniques in which one or more significant inputs and significant value drivers are unobservable. The recorded amounts of certain financial instruments, including cash, accounts receivable, prepaid expenses and other, accounts payable and accrued liabilities, approximate fair value due to their relatively short-term maturities. The recorded amount of the Company’s long-term debt approximates fair value because the related interest rates approximate rates currently available to the Company. The Company’s available-for-sale securities by level within the fair value hierarchy were as follows (in thousands): As of September 30, 2015 Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 15,508 $ — $ — $ 15,508 Short-term investments: Corporate debt securities — 28,296 — 28,296 Asset-backed securities — 430 — 430 Total $ 15,508 $ 28,726 $ — $ 44,234 As of December 31, 2014 Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 13,426 $ — $ — $ 13,426 Short-term investments: U.S. government-related debt securities — 4,498 — 4,498 Corporate debt securities — 47,307 — 47,307 Asset-backed securities — 3,197 — 3,197 Total $ 13,426 $ 55,002 $ — $ 68,428

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Summary of Shares Underlying Outstanding Options and Warrants were Excluded from Computation of Basic and Diluted Net Loss Per Share	The following shares underlying outstanding options and warrants were excluded from the computation of basic and diluted net loss per share for the periods presented because their effect would have been anti-dilutive (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Options to purchase common stock 4,208 3,294 4,025 3,098 Restricted stock units 15 — 15 — Common stock warrants 572 585 572 601

Short-term Investments (Tables)

Short-term Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Short-Term Investments Available-for-Sale Securities	Short-term investments consisted of available-for-sale securities as follows (in thousands): Type of security as of September 30, 2015 Amortized Gross Gross Fair value Corporate debt securities $ 28,300 $ 5 $ (9 ) $ 28,296 Asset-backed securities 430 — — 430 Total available-for-sale securities $ 28,730 $ 5 $ (9 ) $ 28,726 Type of security as of December 31, 2014 Amortized Gross Gross Fair value U.S. government-related debt securities $ 4,502 $ — $ (4 ) $ 4,498 Corporate debt securities 47,345 2 (40 ) 47,307 Asset-backed securities 3,198 — (1 ) 3,197 Total available-for-sale securities $ 55,045 $ 2 $ (45 ) $ 55,002
Fair Values of Available-for-Sale Securities by Contractual Maturity	The fair values of available-for-sale securities by contractual maturity were as follows (in thousands): Contractual maturity September 30, 2015 December 31, 2014 Maturing in one year or less $ 28,726 $ 51,235 Maturing in one to three years — 3,767 Total available-for-sale securities $ 28,726 $ 55,002
Summary of Investments in Continuous Unrealized Loss Position	The following table summarizes investments that have been in a continuous unrealized loss position as of September 30, 2015 (in thousands): Less Than 12 Months 12 Months or Total Fair Gross Fair Gross Fair Gross Corporate debt securities $ 13,275 $ (8 ) $ 2,000 $ (1 ) $ 15,275 $ (9 ) Total $ 13,275 $ (8 ) $ 2,000 $ (1 ) $ 15,275 $ (9 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Company's Available-for-Sale Securities by Level within Fair Value Hierarchy	The Company’s available-for-sale securities by level within the fair value hierarchy were as follows (in thousands): As of September 30, 2015 Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 15,508 $ — $ — $ 15,508 Short-term investments: Corporate debt securities — 28,296 — 28,296 Asset-backed securities — 430 — 430 Total $ 15,508 $ 28,726 $ — $ 44,234 As of December 31, 2014 Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 13,426 $ — $ — $ 13,426 Short-term investments: U.S. government-related debt securities — 4,498 — 4,498 Corporate debt securities — 47,307 — 47,307 Asset-backed securities — 3,197 — 3,197 Total $ 13,426 $ 55,002 $ — $ 68,428

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following as of the date indicated (in thousands): September 30, 2015 December 31, 2014 Raw materials $ 5,064 $ 1,299 Work in process 2,704 2,157 Finished goods 3,931 1,988 $ 11,699 $ 5,444

Reserve for Product Warranties

Reserve for Product Warranties (Tables)	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Schedule of Changes in Company's Warranty Reserve and Related Costs	The following information reconciles changes in the Company’s warranty reserve and related costs (in thousands): Warranty reserve, December 31, 2014 $ 503 Cost of warranty claims and expiry of contracts (90 ) Warranty accrual 60 Warranty reserve, March 31, 2015 473 Cost of warranty claims and expiry of contracts (24 ) Warranty accrual 67 Warranty reserve, June 30, 2015 $ 516 Cost of warranty claims and expiry of contracts (318 ) Warranty accrual 35 Warranty reserve, September 30, 2015 $ 233

Long-term Debt and Obligations

Long-term Debt and Obligations (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Components of Borrowings, Including Current Portion	Borrowings, including current portion, consisted of the following (in thousands): September 30, 2015 December 31, 2014 Term loans payable $ 31,234 $ 30,420 Capital leases 351 506 31,585 30,926 Less: Current portion (259 ) (251 ) Non-current portion $ 31,326 $ 30,675
Scheduled Future Principal Payments under Outstanding Debt Obligations	Scheduled future principal payments under outstanding debt obligations were as follows at September 30, 2015 (in thousands): 2015 $ 68 2016 226 2017 57 2018 — 2019 23,426 Thereafter 7,808 $ 31,585

Information about Geographic 27

Information about Geographic Areas (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Classification of Revenue by Geography	The following table of total revenue is based on the geographic location of the Company’s customers, distributors and collaborators. For sales to distributors, their geographic location may be different from the geographic locations of the ultimate end user. Americas consists of the United States, Canada, Mexico and South America; and Asia Pacific includes Japan, China, South Korea, Singapore, Malaysia and Australia. Total revenue by geography was as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Americas $ 10,929 $ 8,049 $ 26,584 $ 21,425 Europe & Middle East 3,400 2,385 9,355 6,278 Asia Pacific 1,364 1,909 4,413 4,272 Total revenue $ 15,693 $ 12,343 $ 40,352 $ 31,975

Description of Business - Addit

Description of Business - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	May. 11, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Subsidiary, Sale of Stock [Line Items]
Place of incorporation			Delaware
Date of incorporation			Jun. 20, 2003
Aggregate proceeds from equity offering program			$ 12,508	$ 0
Deferred offering costs	$ 137		$ 137		$ 0
Cowen And Company, LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Aggregate proceeds from equity offering program	$ 13,000	$ 40,000
Sales agreement termination, description			The Sales Agreement shall automatically terminate upon the issuance and sale of placement shares equaling sales proceeds of $40.0 million and may be terminated earlier by either the Company or Cowen upon five days’ notice.
Common stock, shares issued	960,400
Proceeds from sale after commission and other expenses	$ 12,500
Deferred offering costs	100		$ 100
Cowen And Company, LLC [Member] | At the market equity offering [Member]
Subsidiary, Sale of Stock [Line Items]
Common stock remained available for sale	$ 27,000		$ 27,000
Cowen And Company, LLC [Member] | Maximum [Member]
Subsidiary, Sale of Stock [Line Items]
Percentage of commission on gross sales proceeds of common stock		3.00%

Basis of Presentation and Sum29

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015
Significant Accounting Policies [Line Items]
Extended warranties description	The Company offers service agreements on its nCounter Analysis Systems for periods ranging from 12 to 36 months after the end of the standard 12-month warranty period.
Standard warranty period	12 months
Percentage used to determine discount for stand-alone sales	15.00%
Minimum [Member]
Significant Accounting Policies [Line Items]
Extended warranty period	12 months
Maximum [Member]
Significant Accounting Policies [Line Items]
Extended warranty period	36 months

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Shares Underlying Outstanding Options and Warrants were Excluded from Computation of Basic and Diluted Net Loss Per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Options to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	4,208	3,294	4,025	3,098
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	15	0	15	0
Warrants [Member] | Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	572	585	572	601

Concentration of Risks - Additi

Concentration of Risks - Additional Information (Detail) - Customer	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Customer Concentration Risk [Member] | Total revenue [Member]
Concentration Risk [Line Items]
Number of customer that individually represented more than 10% of total revenue and accounts receivable	1	0	0	0
Customer Concentration Risk [Member] | Total revenue [Member] | Minimum [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	10.00%	10.00%	10.00%
Credit Concentration Risk [Member] | Total accounts receivable [Member]
Concentration Risk [Line Items]
Number of customer that individually represented more than 10% of total revenue and accounts receivable			0		1
Credit Concentration Risk [Member] | Total accounts receivable [Member] | Minimum [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			10.00%		10.00%

Short-term Investments - Short-

Short-term Investments - Short-Term Investments Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 28,730	$ 55,045
Gross unrealized gains	5	2
Gross unrealized losses	(9)	(45)
Fair value	28,726	55,002
U.S. government-related debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		4,502
Gross unrealized gains		0
Gross unrealized losses		(4)
Fair value		4,498
Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	28,300	47,345
Gross unrealized gains	5	2
Gross unrealized losses	(9)	(40)
Fair value	28,296	47,307
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	430	3,198
Gross unrealized gains	0	0
Gross unrealized losses	0	(1)
Fair value	$ 430	$ 3,197

Short-term Investments - Fair V

Short-term Investments - Fair Values of Available-for-Sale Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Maturing in one year or less	$ 28,726	$ 51,235
Maturing in one to three years	0	3,767
Total available-for-sale securities	$ 28,726	$ 55,002

Short-term Investments - Summar

Short-term Investments - Summary of Investments in Continuous Unrealized Loss Position (Detail)	Sep. 30, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair value	$ 13,275
Less Than 12 Months, Gross unrealized losses	(8)
12 Months or Greater, Fair value	2,000
12 Months or Greater, Gross unrealized losses	(1)
Total, Fair value	15,275
Total, Gross unrealized losses	(9)
Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair value	13,275
Less Than 12 Months, Gross unrealized losses	(8)
12 Months or Greater, Fair value	2,000
12 Months or Greater, Gross unrealized losses	(1)
Total, Fair value	15,275
Total, Gross unrealized losses	$ (9)

Short-term Investments - Additi

Short-term Investments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015USD ($)
Investments, Debt and Equity Securities [Abstract]
Investments that were other-than-temporarily impaired	$ 0

Fair Value Measurements - Compa

Fair Value Measurements - Company's Available-for-Sale Securities by Level within Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 28,726	$ 55,002
Total	44,234	68,428
Money market fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	15,508	13,426
U.S. government-related debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		4,498
Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	28,296	47,307
Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	430	3,197
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	15,508	13,426
Level 1 [Member] | Money market fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	15,508	13,426
Level 1 [Member] | U.S. government-related debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Level 1 [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 [Member] | Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	28,726	55,002
Level 2 [Member] | Money market fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 2 [Member] | U.S. government-related debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		4,498
Level 2 [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	28,296	47,307
Level 2 [Member] | Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	430	3,197
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Level 3 [Member] | Money market fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 3 [Member] | U.S. government-related debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Level 3 [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 [Member] | Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 0	$ 0

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 5,064	$ 1,299
Work in process	2,704	2,157
Finished goods	3,931	1,988
Inventory, net	$ 11,699	$ 5,444

Reserve for Product Warrantie38

Reserve for Product Warranties - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015
Product Warranties Disclosures [Abstract]
Product warranty accrual period	1 year

Reserve for Product Warrantie39

Reserve for Product Warranties - Schedule of Changes in Company's Warranty Reserve and Related Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
Product Warranties Disclosures [Abstract]
Warranty reserve, Beginning balance	$ 516	$ 473	$ 503
Cost of warranty claims and expiry of contracts	(318)	(24)	(90)
Warranty accrual	35	67	60
Warranty reserve, Ending balance	$ 233	$ 516	$ 473

Long-term Debt and Obligation40

Long-term Debt and Obligations - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended	9 Months Ended
	Oct. 31, 2014	Apr. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Apr. 16, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Loss on extinguishment of debt				$ 0	$ 581,000
Deferred accrued interest to be repaid together with principal				$ 1,200,000
Annual revenue requirements	$ 55,000,000
Increase in annual revenue in fiscal years	$ 15,000,000
Annual revenue recognize description				The term loan agreement also includes liquidity and revenue-based financial covenants. The Company must satisfy certain minimum annual revenue requirements, specifically $55.0 million for 2015 with annual increases of $15.0 million for each fiscal year thereafter.
Term Loan Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity		$ 45,000,000
Credit facility, outstanding		20,000,000
End of term payment		1,000,000
Amount of make-whole premium payment		300,000
Total incurred and recorded repayment		1,400,000
Percentage of accrue interest	12.50%			12.50%
Percentage of deferred payment	3.50%									3.50%
End of deferred payment term				First four years term
Loss on extinguishment of debt			$ 600,000
Credit facility, additional borrowing capacity	$ 10,000,000								$ 15,000,000
Percentage of redemption fee				4.00%
Principal and interest payment frequency				The Company exercised its option to defer payment of the 3.5% accrued interest and has deferred a total of $1.2 million as of September 30, 2015, which will be repaid together with principal. Principal payments are due in four equal installments during the sixth year of the term.
Term Loan Agreement [Member] | Option to Defer Payment of Interest [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity		$ 51,000,000
Term Loan Agreement [Member] | Scenario, Forecast [Member]
Line of Credit Facility [Line Items]
Credit facility, outstanding							$ 45,000,000
Percentage of deferred payment								3.50%
Credit facility, additional borrowing capacity							$ 5,000,000	$ 10,000,000
Term Loan Agreement [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Credit facility, additional borrowing capacity	$ 15,000,000
Term Loan Agreement [Member] | Maximum [Member] | Scenario, Forecast [Member]
Line of Credit Facility [Line Items]
Credit facility, additional borrowing capacity						$ 15,000,000

Long-term Debt and Obligation41

Long-term Debt and Obligations - Components of Borrowings, Including Current Portion (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt	$ 31,585
Less: Current portion	(259)	$ (251)
Non-current portion	31,326	30,675
Long-term debt	31,585
Term Loan Agreement [Member]
Debt Instrument [Line Items]
Term loans payable	31,234	30,420
Capital leases	351	506
Long-term debt	31,585	30,926
Less: Current portion	(259)	(251)
Non-current portion	31,326	30,675
Long-term debt	$ 31,585	$ 30,926

Long-term Debt and Obligation42

Long-term Debt and Obligations - Scheduled Future Principal Payments under Outstanding Debt Obligations (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Debt Disclosure [Abstract]
2,015	$ 68
2,016	226
2,017	57
2,018	0
2,019	23,426
Thereafter	7,808
Long-term debt	$ 31,585

Collaboration Agreements - Addi

Collaboration Agreements - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 31, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum success-based milestone payments	$ 55,000,000
Amount of certain milestones achieved in account receivable			$ 12,903,000		$ 12,903,000		$ 12,436,000
Revenue recognized under collaboration agreement			1,783,000	$ 1,079,000	3,112,000	$ 1,697,000
Estimated deferred revenue recognized within one year			5,635,000		5,635,000		4,627,000
Celgene Corporation [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amount of certain milestones achieved in account receivable							$ 6,000,000
Revenue recognized under collaboration agreement			200,000	1,100,000	1,200,000	1,700,000
Deferred revenue recorded under collaboration agreement			7,600,000		7,600,000
Estimated deferred revenue recognized within one year			2,100,000		2,100,000
Celgene Corporation [Member] | Upfront Payment Arrangement [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement upfront payment		$ 5,800,000
Celgene Corporation [Member] | Maximum [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum success-based milestone payments					17,000,000
Merck Sharp & Dohme Corp. [Member] | Clinical Research Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue recognized under collaboration agreement			1,600,000	$ 0	1,800,000	$ 0
Deferred revenue recorded under collaboration agreement			$ 1,300,000		$ 1,300,000
Collaborative agreement period					1 year
Merck Sharp & Dohme Corp. [Member] | Maximum [Member] | Clinical Research Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum success-based milestone payments					$ 4,000,000

Information about Geographic 44

Information about Geographic Areas - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Segment	Sep. 30, 2014USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segment | Segment			1
Total revenue	$ 15,693	$ 12,343	$ 40,352	$ 31,975
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 9,600	$ 7,000	$ 24,500	$ 19,200

Information about Geographic 45

Information about Geographic Areas - Classification of Revenue by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 15,693	$ 12,343	$ 40,352	$ 31,975
Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	10,929	8,049	26,584	21,425
Europe & Middle East [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	3,400	2,385	9,355	6,278
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 1,364	$ 1,909	$ 4,413	$ 4,272

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Term Loan Agreement [Member] - USD ($)	Oct. 30, 2015	Sep. 30, 2015	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Apr. 16, 2015	Dec. 31, 2014	Oct. 31, 2014	Apr. 30, 2014
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity									$ 45,000,000
Credit facility, outstanding									20,000,000
Credit facility, additional borrowing capacity						$ 15,000,000		$ 10,000,000
Percentage of accrue interest		12.50%						12.50%
Percentage of deferred payment							3.50%	3.50%
End of deferred payment term		First four years term
Maximum [Member]
Subsequent Event [Line Items]
Credit facility, additional borrowing capacity								$ 15,000,000
Option to Defer Payment of Interest [Member]
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity									$ 51,000,000
Scenario, Forecast [Member]
Subsequent Event [Line Items]
Credit facility, outstanding				$ 45,000,000
Credit facility, additional borrowing capacity				$ 5,000,000	$ 10,000,000
Percentage of deferred payment					3.50%
Scenario, Forecast [Member] | Maximum [Member]
Subsequent Event [Line Items]
Credit facility, additional borrowing capacity			$ 15,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity	$ 60,000,000
Credit facility, outstanding	$ 30,000,000
Term loan agreement extension period	2 years
Percentage of accrue interest	12.00%
Percentage of deferred payment	3.00%
End of deferred payment term	First six years
Percentage payment up on repayment of principal amount	2.00%
Subsequent Event [Member] | Option to Defer Payment of Interest [Member]
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity	$ 70,000,000