NanoString (NSTG) 10-K 11 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Mar. 01, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	NSTG
Entity Registrant Name	NANOSTRING TECHNOLOGIES INC
Entity Central Index Key	1,401,708
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		19,639,075
Entity Public Float			$ 212.1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 21,856	$ 17,223
Short-term investments	27,188	55,002
Accounts receivable, net	19,725	12,436
Inventory	10,138	5,444
Prepaid expenses and other current assets	3,886	5,114
Total current assets	82,793	95,219
Restricted cash	143	143
Deferred offering costs	181	0
Property and equipment, net	9,414	6,366
Other assets	338	340
Total assets	92,869	102,068
Current liabilities:
Accounts payable	3,243	3,380
Accrued liabilities	12,181	10,403
Deferred revenue, current portion	5,261	4,627
Deferred rent, current portion		147
Lease financing obligations, current portion	226	251
Total current liabilities	20,911	18,808
Deferred revenue, net of current portion	6,486	7,135
Deferred rent, net of current portion	4,257	1,317
Long-term debt and lease financing obligations, net of current portion and debt issuance costs	41,000	29,995
Total liabilities	$ 72,654	$ 57,255
Commitments and contingencies (Note 15)
Stockholders' equity
Preferred stock, $0.0001 par value, 15,000 shares authorized; none issued
Common stock, $0.0001 par value, 150,000 shares authorized; 19,570 and 18,272 shares issued and outstanding at December 31, 2015 and 2014, respectively	$ 2	$ 2
Additional paid-in-capital	242,693	221,724
Other comprehensive loss	(29)	(43)
Accumulated deficit	(222,451)	(176,870)
Total stockholders' equity	20,215	44,813
Total liabilities and stockholders' equity	$ 92,869	$ 102,068

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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	19,570,000	18,272,000
Common stock, shares outstanding	19,570,000	18,272,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Product and service	$ 56,639	$ 44,497	$ 31,403
Collaboration	6,028	3,096	0
Total revenue	62,667	47,593	31,403
Costs and expenses:
Cost of product and service revenue	26,126	21,149	15,009
Research and development	24,597	21,404	14,979
Selling, general and administrative	53,186	51,063	29,912
Total costs and expenses	103,909	93,616	59,900
Loss from operations	(41,242)	(46,023)	(28,497)
Other income (expense):
Interest income	233	272	68
Interest expense	(4,017)	(4,140)	(1,942)
Other expense	(389)	(147)	(66)
Revaluation of preferred stock warrant liability	0	0	1,156
Total other income (expense)	(4,173)	(4,015)	(784)
Net loss before provision for income taxes	(45,415)	(50,038)	(29,281)
Provision for income taxes	(166)	0	0
Net loss	(45,581)	(50,038)	(29,281)
Accretion of mandatorily redeemable convertible preferred stock	0	0	(4,653)
Net loss attributable to common stockholders	$ (45,581)	$ (50,038)	$ (33,934)
Net loss per share-basic and diluted	$ (2.40)	$ (2.80)	$ (4.44)
Weighted average shares used in computing basic and diluted net loss per share	19,027	17,839	7,643

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net loss	$ (45,581)	$ (50,038)	$ (29,281)
Other comprehensive income (loss):
Unrealized gain (loss) on short-term investments	14	(65)	22
Comprehensive loss	$ (45,567)	$ (50,103)	$ (29,259)

Consolidated Statements of Chan

Consolidated Statements of Changes in Mandatorily Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Series C Preferred Stock [Member]	Series D Preferred Stock [Member]	Series E Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Balances at beginning of period at Dec. 31, 2012	$ (93,760)									$ (93,760)
Beginning Balance at Dec. 31, 2012		$ 15,605	$ 13,865	$ 38,592	$ 20,323	$ 15,237
Balances at beginning of period, shares at Dec. 31, 2012							411,226
Balance, Shares at Dec. 31, 2012		557,339	515,836	3,551,060	2,430,054	1,063,951
Accretion of preferred stock	(4,653)							$ (862)		(3,791)
Accretion of preferred stock		$ 683	$ 577	$ 1,604	$ 1,140	$ 649
Issuance of common stock from initial public offering, shares		0					5,400,000
Issuance of common stock from initial public offering, value	$ 46,820							46,820
Conversion of preferred stock into common stock at initial public offering, shares	8,631,427	(557,339)	(515,836)	(3,551,060)	(2,430,054)	(1,063,951)	8,631,427
Conversion of preferred stock to common stock at initial public offering, value	$ 108,275	$ (16,288)	$ (14,442)	$ (40,196)	$ (21,463)	$ (15,886)	$ 1	108,274
Conversion of warrants from warrants for preferred stock to warrants for common stock	2,514							2,514
Exercise of stock options, shares							177,165
Exercise of stock options	387							387
Stock-based compensation	1,145							1,145
Net loss	(29,281)									(29,281)
Other comprehensive income	22								$ 22
Balances at end of period at Dec. 31, 2013	31,469						$ 1	158,278	22	(126,832)
Balances at end of period, shares at Dec. 31, 2013							14,619,818
Issuance of common stock from initial public offering, shares							3,318,917
Issuance of common stock from initial public offering, value	56,987						$ 1	56,986
Issuance of common stock for employee stock purchase plan, Shares							141,386
Issuance of common stock for employee stock purchase plan, Value	987							987
Exercise of stock options, shares							164,394
Exercise of stock options	411							411
Exercise of common stock warrant, shares							27,269
Exercise of common stock warrant, value	136							136
Stock-based compensation	4,926							4,926
Net loss	(50,038)									(50,038)
Other comprehensive income	(65)								(65)
Balances at end of period at Dec. 31, 2014	$ 44,813						$ 2	221,724	(43)	(176,870)
Balances at end of period, shares at Dec. 31, 2014	18,272,000						18,271,784
Issuance of common stock from initial public offering, shares		0	0	0	0	0	960,400
Issuance of common stock from initial public offering, value	$ 12,518	$ 0	$ 0	$ 0	$ 0	$ 0		12,518
Issuance of common stock for employee stock purchase plan, Shares		0	0	0	0	0	136,078
Issuance of common stock for employee stock purchase plan, Value	$ 1,295	$ 0	$ 0	$ 0	$ 0	$ 0		1,295
Exercise of stock options, shares	201,622						201,622
Exercise of stock options	$ 876	0	0	0	0	0		876
Exercise of common stock warrant, shares							250
Exercise of common stock warrants, net		0	0	0	0	0
Exercise of common stock warrant, value	2							2
Stock-based compensation	6,278	0	0	0	0	0	$ 0	6,278	0	0
Net loss	(45,581)	0	0	0	0	0	0	0	0	(45,581)
Other comprehensive income	14	0	0	0	0	0	0	0	14	0
Balances at end of period at Dec. 31, 2015	$ 20,215						$ 2	$ 242,693	$ (29)	$ (222,451)
Ending Balance at Dec. 31, 2015		$ 0	$ 0	$ 0	$ 0	$ 0
Balances at end of period, shares at Dec. 31, 2015	19,570,000						19,570,134
Balance, Shares at Dec. 31, 2015		0	0	0	0	0

Consolidated Statements of Cha7

Consolidated Statements of Changes in Mandatorily Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Additional Paid-in Capital [Member]
Initial public offering, issuance cost	$ 447	$ 4,413	$ 7,180

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities:
Net loss	$ (45,581)	$ (50,038)	$ (29,281)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	2,377	1,590	1,990
Stock-based compensation	6,278	4,926	1,145
Revaluation of preferred stock warrant liability	0	0	(1,156)
Loss on extinguishment of debt	0	581	0
Amortization of premium on short-term investments	270	86	(518)
Interest accrued on long-term debt	18	(348)	259
Conversion of accrued interest to long-term debt	1,067	420	0
Bad debt expense	34	0	0
Loss on disposal of property and equipment	3	0	1
Gain on sale of investments	0	(5)	0
Changes in operating assets and liabilities
Accounts receivable, net	(7,328)	(4,109)	(5,009)
Inventory	(5,354)	(1,252)	(1,370)
Prepaid expenses and other	1,199	(2,132)	(1,679)
Other assets	(7)	(70)	(268)
Accounts payable	(166)	21	1,601
Accrued liabilities	1,162	3,379	2,678
Deferred revenue	(127)	9,497	1,025
Deferred rent	2,793	(607)	(764)
Net cash used in operating activities	(43,362)	(38,061)	(31,346)
Investing activities:
Purchases of property and equipment	(3,796)	(1,900)	(759)
Proceeds from sale of short-term investments	3,000	4,500	0
Proceeds from maturity of short-term investments	57,309	35,977	0
Purchases of short-term investments	(32,750)	(62,911)	(32,175)
Proceeds from sale of property and equipment	6	0	0
Decrease (increase) in restricted cash	0	59	(21)
Net cash provided by (used in) investing activities	23,769	(24,275)	(32,955)
Financing activities:
Proceeds from long-term debt	10,000	30,000	5,000
Deferred costs related to long-term debt	0	(770)	0
Repayment of long-term debt and lease financing obligations	(271)	(18,214)	(211)
Net proceeds from public offerings of common stock	12,518	57,015	47,374
Proceeds from exercise of common stock warrants	2	230	0
Proceeds from issuance of common stock for employee stock purchase plan	1,295	988	0
Repurchase of shares related to common stock warrant exercise	0	(94)	0
Deferred offering costs	(152)	0	0
Proceeds from exercise of stock options	876	411	387
Net cash provided by financing activities	24,268	69,566	52,550
Net increase (decrease) in cash and cash equivalents	4,675	7,230	(11,751)
Effect of exchange rate changes on cash and cash equivalents	(42)	52	0
Cash and cash equivalents:
Beginning of year	17,223	9,941	21,692
End of year	21,856	17,223	9,941
Supplemental disclosures:
Cash paid for interest	2,844	3,479	1,474
Cash paid for taxes	69	0	0
Accrual of construction costs for leasehold improvements	640	0	0
Rental instruments reclassified from inventory	772	2,541	0
Non-cash inventory exchange for services	112	0	0
Non-cash capital lease	48	262	410
Accrual of offering costs	29	0	29
Accretion of preferred stock	0	0	4,653
Issuance of preferred stock warrants with debt	0	0	138
Common Stock [Member]
Operating activities:
Net loss	0
Supplemental disclosures:
Conversion of convertible preferred stock to common stock	0	0	108,275
Warrants [Member]
Supplemental disclosures:
Conversion of convertible preferred stock to common stock	$ 0	$ 0	$ 2,514

Description of the Business

Description of the Business	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Description of the Business	1. Description of the Business NanoString Technologies, Inc. (the “Company”) was incorporated in the state of Delaware on June 20, 2003. The Company’s headquarters is 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 and biopharmaceutical and clinical laboratory customers. In addition, the Company is collaborating with multiple biopharma companies to develop companion diagnostic tests for various cancer therapies. 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 and incurrence of indebtedness, and to a lesser extent, capital leases and other borrowings. Reverse Stock Split In June 2013, the Company effected a 1-for-32 reverse stock split of its common stock and preferred stock. All share and per share information has been retroactively adjusted to reflect this reverse stock split. Public Offerings In June 2013, the Company’s registration statement on Form S-1 was declared effective. This registration statement related to its initial public offering, in which the Company sold 5,400,000 shares of common stock at a price of $10.00 per share. The shares began trading on the NASDAQ Global Market on June 26, 2013. All outstanding shares of the Company’s mandatorily redeemable convertible preferred stock converted into shares of common stock in connection with the initial public offering. Following the initial public offering, there were no shares of preferred stock outstanding. In January 2014, the Company completed an underwritten public offering of 2,972,972 shares of common stock for total gross proceeds of $55.0 million. In February 2014, the underwriters partially exercised an overallotment option, purchasing 345,945 additional shares from the Company for additional gross proceeds of $6.4 million. After underwriters’ fees and commissions and other expenses of the offering, the Company’s aggregate net proceeds were approximately $57.0 million. In May 2015, the Company entered into a sales agreement with a sales agent to sell shares of the Company’s common stock through an “at the market” equity offering program for up to $40.0 million in total sales proceeds. Under the sales agreement, the Company sold 960,400 shares during 2015 for net proceeds of $12.5 million. The sales agreement allows the Company to set 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, limits on the number of shares that may be sold in any one trading day and any minimum price below which sales may not be made. Under the terms of the Sales Agreement, commission expenses to the sales agent will not exceed 3% of the gross sales price per share sold through the sales agent. 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 the sales agent upon five days’ notice. As of December 31, 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 the sales agent commission and other expenses of the offering, were approximately $12.5 million. As of December 31, 2015, approximately $27.0 million of common stock is available to be sold under the “at the market” equity offering program.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Accounting Principles and Principles of Consolidation The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying consolidated financial statements reflect the accounts of the Company and its wholly-owned subsidiaries. Each of the subsidiaries operates as a sales and support office. The functional currency of each subsidiary is the U.S. dollar. All significant intercompany balances and transactions have been eliminated. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and that affect the reported amounts of revenue and expenditures during the reporting period. Actual results could differ from those estimates. Significant estimates inherent in the preparation of the accompanying consolidated financial statements include the estimation of the valuation of inventory, the fair value of the Company’s equity securities, the calculation of stock-based compensation and the estimated future cost of ongoing collaboration agreements, for which revenues are recognized on a proportional performance basis. Cash and Cash Equivalents The Company considers all highly-liquid investments with purchased maturities of three months or less to be cash equivalents. The Company’s cash equivalents consist principally of funds maintained in depository accounts. The Company invests its cash and cash equivalents with major financial institutions; at times these investments exceed federally insured limits. Investments The Company classifies its securities as available-for-sale, which are reported at estimated fair value with unrealized gains and losses included in accumulated other comprehensive loss in stockholders’ equity. Realized gains, realized losses and declines in the value of securities judged to be other-than-temporary, are included in other income (expense). The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. Amortization of premiums and accretion of discounts are included in other income (expense). Interest and dividends earned on all securities are included in other income (expense). Investments in securities with maturities of less than one year, or where management’s intent is to use the investments to fund current operations, or to make them available for current operations, are classified as short-term investments. If the estimated fair value of a security is below its carrying value, the Company evaluates whether it is more likely than not that it will sell the security before its anticipated recovery in market value and whether evidence indicating that the cost of the investment is recoverable within a reasonable period of time outweighs evidence to the contrary. The Company also evaluates whether or not it intends to sell the investment. If the impairment is considered to be other-than-temporary, the security is written down to its estimated fair value. In addition, the Company considers whether credit losses exist for any securities. A credit loss exists if the present value of cash flows expected to be collected is less than the amortized cost basis of the security. Other-than-temporary declines in estimated fair value and credit losses are charged against other income (expense). Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are stated at the amount management expects to collect from customers based on their outstanding invoices. Management reviews accounts receivable regularly to determine if any receivable will potentially be uncollectible and to estimate the amount of allowance for doubtful accounts necessary to reduce accounts receivable to its estimated net realizable value by analyzing the status of significant past due receivables. The allowance for doubtful accounts was $96,600 and $63,000 as of December 31, 2015 and 2014, respectively. Additions to the allowance were $33,600, $63,000 and $0 for the years ended December 31, 2015, 2014 and 2013, respectively. There were no write-offs of uncollectible accounts during the years ended December 31, 2015, 2014 and 2013. Concentration of Credit 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. The Company had no customers that individually represented more than 10% of total revenue during the years ended December 31, 2015, 2014 and 2013. The Company had no customers that represented more than 10% of total accounts receivable at December 31, 2015 and one customer represented 21% of accounts receivable at December 31, 2014. The Company is also subject to supply chain risks related to the outsourcing of the manufacturing 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. A change in suppliers, however, could cause a delay in manufacturing and a possible loss of sales, which would adversely affect operating results. Fair value of financial instruments The recorded amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other assets, accounts payable and accrued liabilities approximate fair value due to their relatively short maturities. Investments that are classified as available-for-sale are recorded at fair value. The fair value for securities held is determined using quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. 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. Inventory Inventory consists of finished goods, work in process, raw materials and certain component parts to be used in manufacturing the Company’s products. Inventory is stated at the lower of cost or market. Cost is determined using a standard cost system, whereby the standard costs are updated periodically to reflect current costs and market represents the lower of replacement cost or estimated net realizable value. The Company’s policy is to establish inventory reserves when conditions exist that suggest that inventory may be in excess of anticipated demand, obsolete, slow moving or impaired. In the event that the Company identifies these conditions exist in its inventory, its carrying value is reduced to its net realizable value. Inventory reserves were $2.2 million, $2.2 million, $2.1 million and $3.5 million as of December 31, 2015, 2014, 2013 and 2012, respectively. Additions to the reserves were $0.2 million, $0.2 million and $0.4 million for the years ended December 31, 2015, 2014 and 2013, respectively. Write-offs of inventory reserves for the years ended December 31, 2015, 2014 and 2013 were $0.3 million, $0.1 million and $1.8 million, respectively. The Company outsources the manufacturing of its instruments to third-party contract manufacturers who manufacture them to certain specifications and source certain raw materials from sole source providers. Major delays in shipments, inferior quality, insufficient quantity or any combination of these or other factors may harm the Company’s business and results of operations. In addition, the inability of one or more of these suppliers to provide the Company with an adequate supply of its products or raw materials or the loss of one or more of these suppliers may cause a delay in the Company’s ability to fulfill orders while it obtains a replacement supplier and may harm the Company’s business and results of operations. Property and Equipment Property and equipment are recorded at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. Manufacturing equipment is depreciated over five years, lease and loaner instruments are depreciated over one to five years, prototype systems are depreciated over two years, computer equipment is generally depreciated over three years, furniture and fixtures are depreciated over five years and leasehold improvements are amortized over the life of the related assets or the term of the lease, whichever is shorter. Expenditures for additions are capitalized and expenditures for maintenance and repairs are expensed as incurred. Gains and losses from the disposal of property and equipment are reflected in the consolidated statements of operations in the period of disposition. Leases and Leasehold Improvements Rent expense for leases that provide for scheduled rent increases during the lease term is recognized on a straight-line basis over the term of the related lease. Leasehold improvements that are funded by landlord incentives or allowances are recorded in property and equipment and as a component of deferred rent and are amortized as a reduction of rent expense over the term of the related lease. Impairment of Long-Lived Assets The Company recognizes impairment losses on long-lived assets when indicators of impairment are present and the anticipated undiscounted cash flows to be generated by those assets are less than the asset’s carrying values. The Company has not experienced any impairment losses on its long-lived assets during the periods presented. Deferred Offering Costs Deferred offering costs represent legal, accounting and other direct costs related to the Company’s efforts to raise capital through public offerings of the Company’s common stock. Costs are deferred until the completion of the applicable offering, at which time they are reclassified to additional paid-in capital as a reduction of the proceeds. The Company recorded deferred offering costs of $181,000 as a non-current asset as of December 31, 2015. The Company had no deferred offering costs recorded as of December 31, 2014. Segments Operating segments are defined as components of an entity for which separate financial information is available and evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the chief executive officer, who manages the operations and evaluates the financial performance on a total Company basis. The Company’s principal operations and decision-making functions are located at its corporate headquarters in the United States. Until the fourth quarter of 2013, the Company operated in two reportable segments, its life sciences business and its diagnostics business. In November 2013, the Company’s nCounter Dx Analysis System FLEX Configuration was launched, enabling customers to perform both research and diagnostic testing on the same instrument. The Company has one sales force that now 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. As a result of these fundamental changes to its business, the Company began operating as a single reportable segment during the fourth quarter of 2013. 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 revenue from the sale of products and services. The Company’s products consist of its proprietary nCounter Analysis System 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 System 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 median 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. Cost of Revenue Cost of revenue consists primarily of costs incurred in the production process, including costs of purchasing instruments from third-party contract manufacturers, consumable component materials and assembly labor and overhead, installation, warranty, service and packaging and delivery costs. In addition, cost of revenue includes royalty costs for licensed technologies included in the Company’s products, provisions for slow-moving and obsolete inventory and stock-based compensation expense. Cost of revenue for instruments and consumables is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of revenue in the consolidated statements of operations. Reserve for Product Warranties The Company generally provides a one-year warranty on its nCounter Analysis Systems and establishes a reserve for future warranty costs based on historical product failure rates and actual warranty costs incurred. Warranty expense is recorded as a component of cost of revenue in the consolidated statements of operations. Research and Development Research and development expenses, consisting primarily of salaries and benefits, occupancy costs, laboratory supplies, clinical study costs, contracted services, consulting fees and related costs, are expensed as incurred. Selling, General and Administrative Selling expenses consist primarily of personnel related costs for sales and marketing, contracted services and service fees and are expensed as the related costs are incurred. Advertising costs are charged to operations as incurred and are included in sales and marketing expenses. Advertising costs totaled approximately $2.6 million, $5.1 million and $3.3 million during the years ended December 31, 2015, 2014 and 2013, respectively. General and administrative expenses consist primarily of personnel related costs for the Company’s finance, human resources, business development, legal and general management, as well as professional fees for services such as legal and accounting services. General and administrative expenses are expensed as they are incurred. Income Taxes The Company accounts for income taxes under the liability method. Under the liability method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and income tax bases of assets and liabilities and are measured using the tax rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. The Company determines whether a tax position is more likely than not to be sustained upon examination based on the technical merits of the position. For tax positions meeting the more-likely-than-not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. Stock-Based Compensation The Company accounts for stock-based compensation under the fair value method. Stock-based compensation costs are based on option awards granted and vested based on their grant-date fair value, estimated using the Black-Scholes option pricing model. The Company uses the straight-line attribution method for recognizing compensation expense. The Company recognizes compensation expense for only the portion of options expected to vest. Therefore, management applied an estimated forfeiture rate that was derived from historical employee termination behavior. If the actual number of forfeitures differs from these estimates, adjustments to compensation expense may be required in future periods. Guarantees and Indemnifications In the normal course of business, the Company guarantees and/or indemnifies other parties, including vendors, lessors and parties to transactions with the Company, with respect to certain matters. The Company has agreed to hold the other parties harmless against losses arising from breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. It is not possible to determine the maximum potential amount the Company could be required to pay under these indemnification agreements, since the Company has not had any prior indemnification claims, and each claim would be based upon the unique facts and circumstances of the claim and the particular provisions of each agreement. In the opinion of management, any such claims would not be expected to have a material adverse effect on the Company’s consolidated results of operations, financial condition or cash flows. The Company did not have any related liabilities recorded at December 31, 2015 and 2014. Comprehensive Loss Comprehensive loss includes certain changes in equity that are excluded from net loss. Specifically, unrealized gains and losses on short-term investments are included in comprehensive loss. Recently Adopted Accounting Pronouncement In April 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update entitled “ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs.” The standard simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the consolidated balance sheet as a direct reduction from the carrying amount of the debt liability, which is consistent with the treatment of debt discounts. The Company has applied ASU 2015-03 in the fourth quarter of fiscal 2015 and has reclassified debt issuance costs from current and other long-term assets to long-term debt for all years presented. Adoption did not otherwise impact the Company’s consolidated results of operations and statements of cash flows. 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, 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. The standard will become effective for the Company beginning January 1, 2017. The Company is currently assessing the impact adoption of this standard will have 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 does not anticipate adoption of the standard will have a material 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, 2017. The Company does not anticipate adoption of the standard will have a material 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 does not anticipate adoption of the standard will have a material impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In November 2015, FASB issued an accounting standards update entitled “ASU 2015-17, Balance Sheet Classification of Deferred Taxes.” The standard requires deferred income tax liabilities and assets be classified as noncurrent in our consolidated balance sheet. The standard will become effective for the Company beginning January 1, 2018. The Company does not anticipate adoption of the standard will have a material impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In February 2016, FASB issued an accounting standards update entitled “ASU 2016-02, Leases – Recognition and Measurement of Financial Assets and Financial Liabilities.” The standard requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. The standard requires lessors to classify leases as either sales-type, finance or operating. A sales-type lease occurs if the lessor transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing lease. If the lessor does not convey risks and rewards or control, an operating lease results. The standard will become effective for the Company beginning January 1, 2019. The Company is currently assessing the impact adoption of this standard will have on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures.

Short-term Investments

Short-term Investments	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Short-term Investments	3. Short-term Investments Short-term investments consisted of available-for-sale securities as follows (in thousands): Type of security as of December 31, 2015 Amortized cost Gross Gross Fair value Corporate debt securities $ 26,116 $ — $ (28 ) $ 26,088 U.S. government-related debt securities 1,101 — (1 ) 1,100 Total available-for-sale securities $ 27,217 $ — $ (29 ) $ 27,188 Type of security as of December 31, 2014 Amortized cost Gross Gross Fair value Corporate debt securities $ 47,345 $ 2 $ (40 ) $ 47,307 U.S. government-related debt securities 4,502 — (4 ) 4,498 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 at December 31 were as follows (in thousands): 2015 2014 Maturing in one year or less $ 27,188 $ 51,235 Maturing in one to three years — 3,767 Total available-for-sale securities $ 27,188 $ 55,002 The following table summarizes investments that have been in a continuous unrealized loss position as of December 31, 2015 (in thousands): Less Than 12 Months More Than 12 Months Total Fair value Gross Fair value Gross Fair value Gross Corporate debt securities $ 23,357 $ (24 ) $ 2,730 $ (4 ) $ 26,087 $ (28 ) U.S. government-related debt securities 1,100 (1 ) — — 1,101 (1 ) Total $ 24,457 $ (25 ) $ 2,730 $ (4 ) $ 27,188 $ (29 ) 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 December 31, 2015, there were no investments in its portfolio that were other-than-temporarily impaired.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. 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 or significant value drivers are unobservable. The Company’s available-for-sale securities by level within the fair value hierarchy were as follows (in thousands): As of December 31, 2015 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 5,371 $ — $ — $ 5,371 Short-term investments: Corporate debt securities — 26,088 — 26,088 U.S. government-related debt securities — 1,100 — 1,100 Total $ 5,371 $ 27,188 $ — $ 32,559 As of December 31, 2014 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 13,426 $ — $ — $ 13,426 Short-term investments: Corporate debt securities — 47,307 — 47,307 U.S. government-related debt securities — 4,498 — 4,498 Asset-backed securities — 3,197 — 3,197 Total $ 13,426 $ 55,002 $ — $ 68,428

Inventory

Inventory	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventory	5. Inventory Inventory consisted of the following at December 31 (in thousands): 2015 2014 Raw materials $ 3,575 $ 1,299 Work in process 2,895 2,157 Finished goods 3,668 1,988 $ 10,138 $ 5,444 In 2015 and 2014, $0.8 million and $2.5 million, respectively, of inventory leased, loaned, or assigned for internal use in the Company’s facilities were transferred into property, plant, and equipment.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Prepaid Expenses and Other Current Assets	6. Prepaid Expenses and Other Current Assets Prepaid expenses and other consisted of the following at December 31 (in thousands): 2015 2014 Deposits for inventory $ 1,664 $ 2,207 Subsidiary bank trust deposits 539 626 Marketing events 518 525 Insurance 314 309 Software licensing fees 278 220 R&D equipment service agreements 163 220 Dues and subscriptions 96 151 Other 314 856 $ 3,886 $ 5,114

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	7. Property and Equipment Property and equipment consisted of the following at December 31 (in thousands): Useful Life 2015 2014 Manufacturing equipment 5 $ 4,543 $ 3,654 Lease and loaner instruments 1 -5 3,318 2,629 Prototype instruments 2 2,956 2,157 Computer equipment 3 1,847 1,430 Furniture and fixtures 5 1,390 831 Leasehold improvements Various 5,874 4,888 Construction in progress 1,921 1,058 21,849 16,647 Less: Accumulated depreciation and amortization (12,435 ) (10,281 ) $ 9,414 $ 6,366 Prototype instruments consist of nCounter instruments used in internal testing and other development activities. Accumulated depreciation on lease and loaner instruments was $867,000 and $128,000 at December 31, 2015 and 2014, respectively. Depreciation and amortization expense for the years ended December 31, 2015, 2014 and 2013 totaled approximately $2.3 million, $1.5 million and $1.8 million, respectively.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Liabilities	8. Accrued Liabilities Accrued liabilities consisted of the following at December 31 (in thousands): 2015 2014 Employee compensation $ 8,039 $ 6,838 Royalties payable 828 632 Construction related costs for leasehold improvements 640 50 Clinical study costs 563 572 Sales, use and other taxes 551 543 Warranty reserves 299 503 Accounting and legal 427 297 Other accrued liabilities 834 968 $ 12,181 $ 10,403

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt	9. Long-Term Debt 2014 Term Loan Agreement In April 2014, the Company entered into a term loan agreement under which it may borrow up to $45.0 million, including 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 the Company’s former credit facility plus a related $1.0 million end of term payment, a $0.3 million make-whole premium, and deferred interest. The Company incurred and recorded a total charge to interest expense of $1.4 million related to the repayment of the former credit facility, including a loss on extinguishment of debt of $0.6 million. In October 2014, the Company borrowed an additional $10.0 million under the term loan agreement. In October 2015, the Company amended the term loan agreement to, among other provisions, increase the maximum borrowing capacity to $60.0 million (excluding deferred interest), reduce the applicable interest rate from 12.5% to 12.0%, extend the interest-only period through March 2021, and extend the final maturity to March 2022. Under the amended agreement, borrowings accrue interest at 12.0% annually, payable quarterly, of which 3.0% can be deferred during the first six years of the term at the Company’s option and paid together with the principal at maturity. The Company has elected to exercise the option to defer payment of interest and has recorded $1.5 million of deferred interest through December 31, 2015. In December 2015, the Company borrowed an additional $10.0 million under the terms of the amended agreement and is required to borrow an additional $5.0 million no later than June 30, 2016. At its option, the Company may borrow up to an additional $15.0 million through December 31, 2016. Total borrowings and deferred interest under the amended term loan agreement were $41.5 million and $30.4 million as of December 31, 2015 and 2014, respectively. Under the amended term loan agreement, the Company may pay interest-only for the first seven years of the term and principal payments are due in four equal installments during the eighth year of the term. The Company has the option to prepay the term loan, in whole or part, at any time subject to payment of a redemption fee of up to 4%, which declines 1% annually thereafter, with no redemption fee payable if prepayment occurs after the fourth year of the loan. In addition, a facility fee equal to 2.0% of the amount borrowed plus any accrued interest is payable at the end of the term or when the loan is repaid in full. A long-term liability of $1.1 million is being accreted using the effective interest method for the facility fee over the term of loan agreement, with a corresponding reduction to the debt. Obligations under the term loan agreement are collateralized by substantially all of the Company’s assets. 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 a $2.0 million minimum liquidity covenant and revenue-based financial covenants, which was $55.0 million for 2015 with annual increases of $15.0 million for each subsequent fiscal year thereafter. If the Company’s actual revenues are below the minimum annual revenue requirement for any given year, it 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 financial covenants as of December 31, 2015. The Company incurred $4.0 million, $4.1 million and $1.9 million of interest expense under the term loan agreement for the years ended December 31, 2015, 2014 and 2013, respectively. In 2014, the Company incurred $1.4 million of interest expense related to the repayment of the former credit facility, including a loss on extinguishment of debt of $0.6 million. 2012 Credit Facility In 2012, the Company entered into a credit facility and incurred $13.0 million and $5.0 million in term loan borrowings during the years ended December 31, 2012 and 2013, respectively. In connection with the term loan borrowings during 2012, the Company issued warrants to purchase an aggregate of 76,940 shares of Series D and 20,837 shares of Series E preferred stock at exercise prices of $8.45 and $14.40 per share, respectively. In connection with the term loan borrowings during 2013, the Company issued warrants to purchase an aggregate of 10,418 shares of Series E preferred stock. The issued warrants were valued at the date of issuance using the Black-Scholes option pricing model with the following assumptions: fair value of preferred stock equal to exercise price of warrant, volatility of 57.0 to 61.0% and a risk free interest rate of 1.63 to 2.20%. The warrants were treated as a debt discount and were amortized over the term of the debt. In connection with the Company’s initial public offering, these warrants became exercisable for shares of the Company’s common stock. Lease Financing Obligations The Company has entered into agreements to lease certain hardware, software and capitalized installation costs, the longest of which expires in June 2017. Ownership of the leased property transfers to the Company at the end of the lease terms. The fair value at lease inception is recorded in property, plant and equipment and is depreciated over the shorter of the useful life of the assets or the lease term. A total cost of $716,500 and $668,500 and accumulated depreciation of $286,600 and $102,600 for leased property is included in property, plant and equipment at December 31, 2015 and 2014, respectively. Long-term debt and lease financing obligations consisted of the following at December 31 (in thousands): 2015 2014 Term loans payable $ 41,487 $ 30,420 Lease financing obligations 284 506 Total long-term debt and lease financing obligations 41,771 30,926 Unamortized debt issuance costs (545 ) (680 ) Current portion of lease financing obligations (226 ) (251 ) Long-term debt and lease financing obligations, net of debt issuance costs and current portion $ 41,000 $ 29,995 Scheduled future payments of principal for outstanding debt and lease financing obligations were as follows at December 31: 2016 $ 226 2017 58 2018 — 2019 — 2020 — Thereafter 41,487 $ 41,771

Collaboration Agreements

Collaboration Agreements	12 Months Ended
	Dec. 31, 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 success-based 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 elects 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. For the years ended December 31, 2015 and 2014, the Company recognized collaboration revenue related to the Celgene agreement of $2.2 million and $2.9 million, respectively. No such amounts were recognized in 2013. At December 31, 2015, the Company had recorded $8.2 million of deferred revenue related to the collaboration, of which $2.8 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 intended to optimize immune-related gene expression signatures and evaluate the potential to predict benefit from Merck’s anti-PD-1 For the year ended December 31, 2015, the Company recognized collaboration revenue related to the Merck agreement of $3.7 million. No such amounts were recognized in 2014 and 2013. At December 31, 2015, the Company had recorded $147,000 of deferred revenue related to the collaboration which is estimated to be recognized as revenue within one year.

Common Stock and Preferred Stoc

Common Stock and Preferred Stock	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Common Stock and Preferred Stock	11. Common Stock and Preferred Stock Prior to the completion of its initial public offering in July 2013, the Company was authorized to issue common stock and Series A, Series B, Series C, Series D and Series E convertible preferred stock. Immediately prior to the completion of the Company’s initial public offering, all of the outstanding shares of convertible preferred stock automatically converted into 8,631,427 shares of common stock. Common Stock Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors, subject to the prior rights of holders of other classes of stock outstanding. Preferred Stock Pursuant to the amended and restated certificate of incorporation filed by the Company immediately prior to the completion of its initial public offering, the Company’s board of directors is authorized to issue up to 15,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, redemption rights, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock. The issuance of preferred stock could adversely affect the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing change in the Company’s control or other corporate action. As of December 31, 2015, no shares of preferred stock were issued or outstanding, and the board of directors has not authorized or designated any rights, preferences, privileges and restrictions for any class of preferred stock. Mandatorily Redeemable Convertible Preferred Stock Prior to the completion of the Company’s initial public offering, the Company issued Series A, Series B, Series C, Series D and Series E convertible preferred stock (collectively, the “Preferred Stock”). The convertible preferred stock contained a provision that at any time after November 29, 2017 and upon 30 day notice from the holders of 65% of the outstanding Preferred Stock, such holders could compel the Company to redeem, from any funds legally available, all or part of the Preferred Stock and any accumulated or declared but unpaid dividends thereon. The Company accordingly recorded the Preferred Stock as mandatorily redeemable securities. The redemption value of the Preferred Stock was equal to the original issue price with interest compounded from the original issuance date to the first installment redemption date at a rate of 8% compounded quarterly. The Company recorded accretion related to issue costs and dividends of Series A, Series B, Series C, Series D and Series E preferred stock totaling approximately $4.7 million for the year ended December 31, 2013. The Company also accreted any related issuance costs or discounts. Immediately prior to the completion of the Company’s initial public offering, each share of Series A preferred stock was converted into common stock on a 1.403030-for-one 1.559429-for-one one-for-one Warrants Prior to the Company’s initial public offering, warrants to purchase preferred stock were issued related to certain financing transactions. Such warrants were recorded as liabilities and measured at fair value at each reporting date. All preferred stock warrants were converted into warrants to purchase common stock upon the effectiveness of the initial public offering. The preferred stock warrant liability was reclassified to stockholders’ equity and recorded as common stock warrants upon the closing of the Company’s initial public offering. These warrants are no longer re-measured

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	12. Stock-based Compensation Stock Option Plans The Company’s 2004 Stock Option Plan and 2013 Equity Incentive Plan (the “Plans”) authorize the grant of options, restricted stock units and other equity awards to employees, directors and consultants. As of December 31, 2015, there were 5,446,915 shares available under the Plans. All options granted have a ten-year term and generally vest and become exercisable over four years of continued employment or service as defined in each option agreement. The Board of Directors determines the option exercise price and may designate stock options granted as either incentive or nonstatutory stock options. The Company generally grants stock options to employees with exercise prices equal to the estimated fair value of the Company’s common stock on the date of grant. A summary of the Company’s stock option activity and related information follows: Shares Weighted- Weighted- Aggregate (in thousands) Outstanding at December 31, 2014 3,294,822 $ 9.98 8.08 $ 17,985 Granted 1,455,150 12.94 Canceled (45,939 ) 14.97 Forfeited (335,449 ) 14.00 Exercised (201,622 ) 3.58 Outstanding at December 31, 2015 4,166,962 $ 10.94 7.81 $ 19,163 December 31, 2015: Options vested and expected to vest 4,117,768 $ 10.93 7.80 $ 19,074 Options exercisable 2,108,076 $ 8.37 6.94 $ 15,006 The following table summarizes information about the Company’s options outstanding at December 31, 2015: Options Outstanding Options Exercisable Exercise Price Number of Weighted- Number of Weighted- $0.00 – 1.92 645,113 6.26 589,799 6.19 2.24 – 3.84 317,814 4.28 317,796 4.28 5.12 – 6.72 371,802 6.98 277,781 6.97 8.96 – 10.94 273,276 8.32 113,223 7.82 11.14 – 12.56 283,315 8.49 87,449 8.09 12.77 – 13.93 972,726 9.11 216,977 9.09 14.04 – 16.22 414,690 9.24 64,635 8.45 $17.24 – 20.65 888,226 8.10 440,416 8.10 4,166,962 2,108,076 The following table summarizes information about the Company’s stock option plan for the years ended December 31: 2015 2014 2013 Fair value of vested stock options (in thousands) $ 6,468 $ 3,543 $ 920 Aggregate intrinsic value for options exercised (in thousands) $ 2,067 $ 2,220 $ 681 Weighted-average grant date fair value per share $ 7.20 $ 9.45 $ 5.30 Options granted during the three years ended December 31, 2015 were granted at exercise prices that the Company’s board of directors believed to be equal to the fair value of the common stock underlying such options on the date of grant. Prior to completion of its initial public offering, the Company assessed its estimate of fair value of its common stock for financial reporting purposes. Following this assessment, it was determined that for financial reporting purposes the fair value of the Company’s common stock was higher than the board of directors’ fair market value estimate for certain options previously granted. In 2013, the Company granted options of 101,487 shares that were subsequently determined to be granted at exercise prices that were less than the estimated per share value of the underlying common stock on the date of grant. The valuations of these stock options were adjusted to reflect the increase in estimated fair value of the underlying stock options. Stock-based compensation The following table sets forth stock-based compensation expense related to stock-based arrangements under the 2004 Stock Option Plan and the 2013 Equity Incentive Plan for the years ended December 31 as follows (in thousands): 2015 2014 2013 Cost of revenue $ 471 $ 281 $ 49 Research and development 1,453 1,018 273 Selling, general and administrative 3,919 3,234 823 Total stock-based compensation expense $ 5,843 $ 4,533 $ 1,145 As of December 31, 2015, total unrecognized stock-based compensation cost related to unvested options was $14.3 million. This cost will be recognized on a straight-line basis over the weighted-average remaining service period of 2.61 years. The Company utilizes newly issued shares to satisfy option exercises. No tax benefit was recognized related to stock-based compensation cost since the Company has not reported taxable income to date and has established a full valuation allowance to offset all of the potential tax benefits associated with its deferred tax assets. Valuation assumptions The fair value of each employee option grant as of December 31 was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions: 2015 2014 2013 Risk-free interest rates 1.37%–1.97% 1.74%–2.15% 1.05%–1.95% Expected term (years) 6.25 6.25 6.25 Expected dividend yield — — — Expected volatility 57.0% 57.0% 57.0%–58.0% The risk-free interest rates are based on the implied yield currently available in U.S. Treasury securities at maturity with an equivalent term. For purposes of determining the expected term of the awards in the absence of sufficient historical data relating to stock-option exercises, the Company applies a simplified approach in which the expected term of an award is presumed to be the mid-point between the vesting date and the expiration date of the award. The Company has not declared or paid any dividends and does not currently expect to do so in the foreseeable future. The Company based its expected volatility on the historical volatility of similar companies whose share prices are publicly available. Employee Stock Purchase Plan In July 2013, the Company’s stockholders approved the Company’s 2013 Employee Stock Purchase Plan (“ESPP”). The ESPP provides eligible employees with an opportunity to purchase common stock from the Company and to pay for their purchases through payroll deductions. The Purchase Plan has overlapping offering periods of approximately 12 months in length. The offering periods generally start with the first trading day on or after March 1 and September 1 of each year and end on the first trading day on or after March 1 and September 1 of the following year, approximately 12 months later. Within each offering period, shares will be purchased each 6 months on an exercise date. The first offering period began in August 2013. An employee electing to participate in the Purchase Plan (a “participant”) will be granted an option at the start of the offering period to purchase shares with contributions in any whole percentage ranging from 0% to 10% (or greater or lesser percentages or dollar amounts that the administrator determines) of the participant’s eligible compensation. The participant’s contributions will be accumulated and then used to purchase the Company’s shares on each exercise date. The purchase price on the exercise date will be 85% of the fair market value of the lessor of the Company’s share price on either the first trading day of the offering period or on the exercise date. During 2015 and 2014, 136,078 and 141,386 shares were issued under the ESPP, respectively. The Company recorded share-based compensation expense for shares issued from the ESPP of $435,000 and $394,000 for the years ended December 31, 2015 and 2014, respectively. A total of 610,166 shares of common stock have been reserved for issuance under the ESPP, of which 332,704 shares were available for issuance as of December 31, 2015. No shares were issued under the ESPP during 2013.

Defined Contribution Retirement

Defined Contribution Retirement Plan	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Retirement Plan	13. Defined Contribution Retirement Plan The Company maintains a 401(k) defined contribution retirement plan covering substantially all of its employees. The plan provides for matching and discretionary contributions by the Company. Contributions were $0.5 million and $0.4 million for the years ended December 31, 2015 and 2014, respectively. There were no contributions by the Company in 2013.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes Loss before income taxes for the years ended December 31 consisted of the following (in thousands): 2015 2014 2013 Domestic $ (46,065 ) $ (50,455 ) $ (28,746 ) Foreign 650 417 (535 ) Loss before income taxes $ (45,415 ) $ (50,038 ) $ (29,281 ) Significant components of our provision for income taxes for the years ended December 31 are as follows (in thousands): 2015 2014 2013 Current: Domestic $ — $ — $ — Foreign 166 — — Total current provision 166 — — Deferred: Domestic — — — Foreign — — — Total deferred provision — — — Total provision for income taxes $ 166 $ — $ — Income tax expense (benefit) differed from the amounts computed by applying the statutory federal income tax rate of 34% to pretax loss as a result of the following for the years ended December 31 (in thousands): 2015 2014 2013 Income tax provision at statutory rate $ (15,662 ) $ (17,013 ) $ (9,955 ) Nondeductible items 401 456 (32 ) Change in tax credits (792 ) (678 ) (893 ) Change in valuation allowance 16,706 17,911 10,965 Foreign tax and other (487 ) (676 ) (85 ) $ 166 $ — $ — Net operating loss (“NOL”) carryforwards created by excess tax benefits from the exercise of non-qualified The Company does not expect to utilize any of its net operating loss and tax credit carryforwards in the near term. The Company may have already experienced one or more ownership changes. Depending on the timing of any future utilization of its carryforwards, the Company may be limited as to the amount that can be utilized each year as a result of such previous ownership changes. However, the Company does not believe such limitations will cause its carryforwards to expire unutilized. Future changes in the Company’s stock ownership as well as other changes that may be outside the Company’s control could potentially result in further limitations on the Company’s ability to utilize its net operating loss and tax credit carryforwards. The effect of temporary differences and carryforwards that give rise to deferred tax assets for the years ended December 31 were as follows (in thousands): 2015 2014 Net operating loss carryforwards $ 57,158 $ 47,444 Research and development tax credit carryforwards 3,124 2,332 Stock-based compensation 3,212 1,583 Other 7,135 2,564 Total deferred tax assets 70,629 53,923 Less: Valuation allowance (70,629 ) (53,923 ) Net deferred tax assets $ — $ — The Company has recorded a full valuation allowance related to its deferred tax assets due to the uncertainty of the ultimate realization of the future benefits from those assets. The table below summarizes changes in the deferred tax asset valuation allowance (in thousands): Balance Charged Write-offs Balance Deferred tax valuation allowance: For year ended December 31, 2013 $ 25,047 $ 10,965 $ — $ 36,012 For year ended December 31, 2014 36,012 17,911 — 53,923 For year ended December 31, 2015 53,923 16,706 — 70,629 The total balance of unrecognized gross tax benefits for the years ended December 31, resulting from R&D credits claimed on the Company’s annual tax return was as follows (in thousands): 2015 2014 2013 Unrecognized tax benefits at beginning of year $ 777 $ 551 $ 253 Additions (reductions) based on current year tax positions 264 226 298 Unrecognized tax benefits at end of year $ 1,041 $ 777 $ 551 The Company classifies applicable interest and penalties on amounts due to tax authorities as a component of the provision for income taxes. The amount of accrued interest and penalties recorded in 2015, 2014 or 2013 was not significant. The Company does not anticipate that the amount of its existing unrecognized tax benefits will significantly increase or decrease within the next 12 months. Due to the presence of net operating loss carryforwards in most jurisdictions, the Company’s tax years remain open for examination by U.S. taxing authorities back to 2004.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Operating Leases The Company is obligated to make future minimum payments under three operating leases for 80,273 square feet of space used for general office, laboratory, manufacturing, operations, and research and development purposes in Seattle. The leases expire in 2026 and include options to renew at the then current fair market rental for each of the facilities. The lease agreements contain rent abatement periods, scheduled rent increases and provide for tenant improvement allowances. Accordingly, the Company has recorded a deferred rent liability of $4.3 million and $1.5 million as of December 31, 2015 and 2014, respectively. This deferred rent liability is amortized over the term of the related lease. Rent expense totaled approximately $3.2 million, $1.4 million and $1.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. Future minimum lease payments under noncancelable operating leases as of December 31, 2015 were as follows (in thousands): 2016 $ 3,282 2017 3,776 2018 3,884 2019 3,993 2020 4,106 Thereafter 22,453 $ 41,494 Purchase Commitments The Company has non-cancellable purchase obligations totaling $9.2 million at December 31, 2015 related to binding commitments to purchase inventory. 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.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Net Loss Per Share	16. Net Loss Per Share Net loss attributable to common stockholders per share is computed by dividing the net loss allocable to common stockholders by the weighted average number of shares of common stock outstanding. Outstanding stock options, warrants and preferred stock, have not been included in the calculation of diluted net loss attributable to common stockholders 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 table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss per share for the years ended December 31 (in thousands): 2015 2014 2013 Numerator: Net loss $ (45,581 ) $ (50,038 ) $ (29,281 ) Accretion of mandatorily redeemable convertible preferred stock — — (4,653 ) Net loss attributable to common stockholders $ (45,581 ) $ (50,038 ) $ (33,934 ) Denominator: Weighted-average common shares outstanding-basic and diluted 19,027 17,839 7,643 The following outstanding options, warrants and preferred stock as of December 31 were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive (in thousands): 2015 2014 2013 Options to purchase common stock 4,069 3,295 2,113 Common stock warrants 572 572 618

Information about Geographic Ar

Information about Geographic Areas	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Information about Geographic Areas	17. Information about Geographic Areas The following table is based on the geographic location of distributors or end users who purchased products and services and collaborators. For sales to distributors, their geographic location may be different from the geographic locations of the ultimate end user. Revenue by geography as of December 31 was as follows (in thousands): 2015 2014 2013 Americas $ 41,265 $ 32,244 $ 21,855 Europe & Middle East 14,807 9,174 5,775 Asia Pacific 6,595 6,175 3,773 Total revenue $ 62,667 $ 47,593 $ 31,403 Total revenue in the United States was $37.9 million, $29.0 million and $19.3 million for the years ended December 31, 2015, 2014 and 2013, 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.

Condensed Quarterly Financial D

Condensed Quarterly Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Condensed Quarterly Financial Data (unaudited)	18. Condensed Quarterly Financial Data (unaudited) The following table contains selected unaudited financial data for each quarter of 2015 and 2014. The unaudited information should be read in conjunction with the Company’s financial statements and related notes included elsewhere in this report. The Company believes that the following unaudited information reflects all normal recurring adjustments necessary for a fair statement of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period. Three months ended March 31, June 30, September 30, December 31, (in thousands, except per share data) 2015 Total revenue $ 11,593 $ 13,066 $ 15,693 $ 22,315 Net loss $ (14,894 ) $ (12,404 ) $ (9,467 ) $ (8,816 ) Net loss per share – basic and diluted $ (0.81 ) $ (0.66 ) $ (0.49 ) $ (0.44 ) 2014 Total revenue $ 8,751 $ 10,881 $ 12,343 $ 15,618 Net loss $ (11,422 ) $ (14,088 ) $ (12,148 ) $ (12,380 ) Net loss per share – basic and diluted $ (0.68 ) $ (0.78 ) $ (0.67 ) $ (0.68 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	19. Subsequent Events Collaboration with Medivation, Inc. and Astellas Pharma, Inc. In January 2016, the Company entered into a collaboration agreement with Medivation, Inc. and Astellas Pharma Inc. to pursue the translation of a novel gene expression signature algorithm discovered by Medivation into a companion diagnostic assay using the nCounter Analysis System. Under the terms of the collaboration agreement, the Company will modify its PAM50-based Prosigna Breast Cancer Assay for potential use as a companion diagnostic test for XTANDI (enzalutamide) for triple negative breast cancer. XTANDI is currently approved for the treatment of metastatic castration-resistant prostate cancer. The modified Prosigna test will be based upon data from a Phase 2 trial conducted by Medivation and Astellas that evaluated enzalutamide in patients with triple negative breast cancer. Under the terms of the collaboration agreement, the Company will be responsible for developing and validating the diagnostic test and, if the parties thereafter determine to proceed, will also be responsible for seeking regulatory approval for and commercializing the test. In January 2016, the Company received $6.0 million upfront for technology access, and is eligible to earn up to $6.0 million in pre-clinical milestones and $10.0 million in development funding, in addition to other potential downstream milestone payments. Expanded Collaboration with Merck In February 2016, the Company expanded its collaboration with Merck by entering into a new development collaboration agreement to clinically develop and commercialize a novel diagnostic test, based on an optimized gene expression signature, to predict response to Merck’s anti-PD-1 therapy, KEYTRUDA, in multiple tumor types. Under the terms of the new collaboration agreement, the Company will be responsible for seeking regulatory approval for and commercialization of the diagnostic test. The Company will receive a $12.0 million upfront technology access fee and development funding and is eligible to receive up to $12.0 million of near-term preclinical milestone payments, and other potential downstream regulatory milestone payments.

Significant Accounting Polici28

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Accounting Principles and Principles of Consolidation	Accounting Principles and Principles of Consolidation The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying consolidated financial statements reflect the accounts of the Company and its wholly-owned subsidiaries. Each of the subsidiaries operates as a sales and support office. The functional currency of each subsidiary is the U.S. dollar. All significant intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and that affect the reported amounts of revenue and expenditures during the reporting period. Actual results could differ from those estimates. Significant estimates inherent in the preparation of the accompanying consolidated financial statements include the estimation of the valuation of inventory, the fair value of the Company’s equity securities, the calculation of stock-based compensation and the estimated future cost of ongoing collaboration agreements, for which revenues are recognized on a proportional performance basis.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly-liquid investments with purchased maturities of three months or less to be cash equivalents. The Company’s cash equivalents consist principally of funds maintained in depository accounts. The Company invests its cash and cash equivalents with major financial institutions; at times these investments exceed federally insured limits.
Investments	Investments The Company classifies its securities as available-for-sale, which are reported at estimated fair value with unrealized gains and losses included in accumulated other comprehensive loss in stockholders’ equity. Realized gains, realized losses and declines in the value of securities judged to be other-than-temporary, are included in other income (expense). The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. Amortization of premiums and accretion of discounts are included in other income (expense). Interest and dividends earned on all securities are included in other income (expense). Investments in securities with maturities of less than one year, or where management’s intent is to use the investments to fund current operations, or to make them available for current operations, are classified as short-term investments. If the estimated fair value of a security is below its carrying value, the Company evaluates whether it is more likely than not that it will sell the security before its anticipated recovery in market value and whether evidence indicating that the cost of the investment is recoverable within a reasonable period of time outweighs evidence to the contrary. The Company also evaluates whether or not it intends to sell the investment. If the impairment is considered to be other-than-temporary, the security is written down to its estimated fair value. In addition, the Company considers whether credit losses exist for any securities. A credit loss exists if the present value of cash flows expected to be collected is less than the amortized cost basis of the security. Other-than-temporary declines in estimated fair value and credit losses are charged against other income (expense).
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are stated at the amount management expects to collect from customers based on their outstanding invoices. Management reviews accounts receivable regularly to determine if any receivable will potentially be uncollectible and to estimate the amount of allowance for doubtful accounts necessary to reduce accounts receivable to its estimated net realizable value by analyzing the status of significant past due receivables. The allowance for doubtful accounts was $96,600 and $63,000 as of December 31, 2015 and 2014, respectively. Additions to the allowance were $33,600, $63,000 and $0 for the years ended December 31, 2015, 2014 and 2013, respectively. There were no write-offs of uncollectible accounts during the years ended December 31, 2015, 2014 and 2013.
Concentration of Credit Risks	Concentration of Credit 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. The Company had no customers that individually represented more than 10% of total revenue during the years ended December 31, 2015, 2014 and 2013. The Company had no customers that represented more than 10% of total accounts receivable at December 31, 2015 and one customer represented 21% of accounts receivable at December 31, 2014. The Company is also subject to supply chain risks related to the outsourcing of the manufacturing 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. A change in suppliers, however, could cause a delay in manufacturing and a possible loss of sales, which would adversely affect operating results.
Fair value of financial instruments	Fair value of financial instruments The recorded amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other assets, accounts payable and accrued liabilities approximate fair value due to their relatively short maturities. Investments that are classified as available-for-sale are recorded at fair value. The fair value for securities held is determined using quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. 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.
Inventory	Inventory Inventory consists of finished goods, work in process, raw materials and certain component parts to be used in manufacturing the Company’s products. Inventory is stated at the lower of cost or market. Cost is determined using a standard cost system, whereby the standard costs are updated periodically to reflect current costs and market represents the lower of replacement cost or estimated net realizable value. The Company’s policy is to establish inventory reserves when conditions exist that suggest that inventory may be in excess of anticipated demand, obsolete, slow moving or impaired. In the event that the Company identifies these conditions exist in its inventory, its carrying value is reduced to its net realizable value. Inventory reserves were $2.2 million, $2.2 million, $2.1 million and $3.5 million as of December 31, 2015, 2014, 2013 and 2012, respectively. Additions to the reserves were $0.2 million, $0.2 million and $0.4 million for the years ended December 31, 2015, 2014 and 2013, respectively. Write-offs of inventory reserves for the years ended December 31, 2015, 2014 and 2013 were $0.3 million, $0.1 million and $1.8 million, respectively. The Company outsources the manufacturing of its instruments to third-party contract manufacturers who manufacture them to certain specifications and source certain raw materials from sole source providers. Major delays in shipments, inferior quality, insufficient quantity or any combination of these or other factors may harm the Company’s business and results of operations. In addition, the inability of one or more of these suppliers to provide the Company with an adequate supply of its products or raw materials or the loss of one or more of these suppliers may cause a delay in the Company’s ability to fulfill orders while it obtains a replacement supplier and may harm the Company’s business and results of operations.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. Manufacturing equipment is depreciated over five years, lease and loaner instruments are depreciated over one to five years, prototype systems are depreciated over two years, computer equipment is generally depreciated over three years, furniture and fixtures are depreciated over five years and leasehold improvements are amortized over the life of the related assets or the term of the lease, whichever is shorter. Expenditures for additions are capitalized and expenditures for maintenance and repairs are expensed as incurred. Gains and losses from the disposal of property and equipment are reflected in the consolidated statements of operations in the period of disposition.
Leases and Leasehold Improvements	Leases and Leasehold Improvements Rent expense for leases that provide for scheduled rent increases during the lease term is recognized on a straight-line basis over the term of the related lease. Leasehold improvements that are funded by landlord incentives or allowances are recorded in property and equipment and as a component of deferred rent and are amortized as a reduction of rent expense over the term of the related lease.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company recognizes impairment losses on long-lived assets when indicators of impairment are present and the anticipated undiscounted cash flows to be generated by those assets are less than the asset’s carrying values. The Company has not experienced any impairment losses on its long-lived assets during the periods presented.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs represent legal, accounting and other direct costs related to the Company’s efforts to raise capital through public offerings of the Company’s common stock. Costs are deferred until the completion of the applicable offering, at which time they are reclassified to additional paid-in capital as a reduction of the proceeds. The Company recorded deferred offering costs of $181,000 as a non-current asset as of December 31, 2015. The Company had no deferred offering costs recorded as of December 31, 2014.
Segments	Segments Operating segments are defined as components of an entity for which separate financial information is available and evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the chief executive officer, who manages the operations and evaluates the financial performance on a total Company basis. The Company’s principal operations and decision-making functions are located at its corporate headquarters in the United States. Until the fourth quarter of 2013, the Company operated in two reportable segments, its life sciences business and its diagnostics business. In November 2013, the Company’s nCounter Dx Analysis System FLEX Configuration was launched, enabling customers to perform both research and diagnostic testing on the same instrument. The Company has one sales force that now 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. As a result of these fundamental changes to its business, the Company began operating as a single reportable segment during the fourth quarter of 2013.
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 revenue from the sale of products and services. The Company’s products consist of its proprietary nCounter Analysis System 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 System 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 median 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.
Cost of Revenue	Cost of Revenue Cost of revenue consists primarily of costs incurred in the production process, including costs of purchasing instruments from third-party contract manufacturers, consumable component materials and assembly labor and overhead, installation, warranty, service and packaging and delivery costs. In addition, cost of revenue includes royalty costs for licensed technologies included in the Company’s products, provisions for slow-moving and obsolete inventory and stock-based compensation expense. Cost of revenue for instruments and consumables is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of revenue in the consolidated statements of operations.
Reserve for Product Warranties	Reserve for Product Warranties The Company generally provides a one-year warranty on its nCounter Analysis Systems and establishes a reserve for future warranty costs based on historical product failure rates and actual warranty costs incurred. Warranty expense is recorded as a component of cost of revenue in the consolidated statements of operations.
Research and Development	Research and Development Research and development expenses, consisting primarily of salaries and benefits, occupancy costs, laboratory supplies, clinical study costs, contracted services, consulting fees and related costs, are expensed as incurred.
Selling, General and Administrative	Selling, General and Administrative Selling expenses consist primarily of personnel related costs for sales and marketing, contracted services and service fees and are expensed as the related costs are incurred. Advertising costs are charged to operations as incurred and are included in sales and marketing expenses. Advertising costs totaled approximately $2.6 million, $5.1 million and $3.3 million during the years ended December 31, 2015, 2014 and 2013, respectively. General and administrative expenses consist primarily of personnel related costs for the Company’s finance, human resources, business development, legal and general management, as well as professional fees for services such as legal and accounting services. General and administrative expenses are expensed as they are incurred.
Income Taxes	Income Taxes The Company accounts for income taxes under the liability method. Under the liability method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and income tax bases of assets and liabilities and are measured using the tax rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. The Company determines whether a tax position is more likely than not to be sustained upon examination based on the technical merits of the position. For tax positions meeting the more-likely-than-not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation under the fair value method. Stock-based compensation costs are based on option awards granted and vested based on their grant-date fair value, estimated using the Black-Scholes option pricing model. The Company uses the straight-line attribution method for recognizing compensation expense. The Company recognizes compensation expense for only the portion of options expected to vest. Therefore, management applied an estimated forfeiture rate that was derived from historical employee termination behavior. If the actual number of forfeitures differs from these estimates, adjustments to compensation expense may be required in future periods.
Guarantees and Indemnifications	Guarantees and Indemnifications In the normal course of business, the Company guarantees and/or indemnifies other parties, including vendors, lessors and parties to transactions with the Company, with respect to certain matters. The Company has agreed to hold the other parties harmless against losses arising from breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. It is not possible to determine the maximum potential amount the Company could be required to pay under these indemnification agreements, since the Company has not had any prior indemnification claims, and each claim would be based upon the unique facts and circumstances of the claim and the particular provisions of each agreement. In the opinion of management, any such claims would not be expected to have a material adverse effect on the Company’s consolidated results of operations, financial condition or cash flows. The Company did not have any related liabilities recorded at December 31, 2015 and 2014.
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes certain changes in equity that are excluded from net loss. Specifically, unrealized gains and losses on short-term investments are included in comprehensive loss.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncement In April 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update entitled “ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs.” The standard simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the consolidated balance sheet as a direct reduction from the carrying amount of the debt liability, which is consistent with the treatment of debt discounts. The Company has applied ASU 2015-03 in the fourth quarter of fiscal 2015 and has reclassified debt issuance costs from current and other long-term assets to long-term debt for all years presented. Adoption did not otherwise impact the Company’s consolidated results of operations and statements of cash flows.
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, 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. The standard will become effective for the Company beginning January 1, 2017. The Company is currently assessing the impact adoption of this standard will have 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 does not anticipate adoption of the standard will have a material 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, 2017. The Company does not anticipate adoption of the standard will have a material 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 does not anticipate adoption of the standard will have a material impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In November 2015, FASB issued an accounting standards update entitled “ASU 2015-17, Balance Sheet Classification of Deferred Taxes.” The standard requires deferred income tax liabilities and assets be classified as noncurrent in our consolidated balance sheet. The standard will become effective for the Company beginning January 1, 2018. The Company does not anticipate adoption of the standard will have a material impact on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures. In February 2016, FASB issued an accounting standards update entitled “ASU 2016-02, Leases – Recognition and Measurement of Financial Assets and Financial Liabilities.” The standard requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. The standard requires lessors to classify leases as either sales-type, finance or operating. A sales-type lease occurs if the lessor transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing lease. If the lessor does not convey risks and rewards or control, an operating lease results. The standard will become effective for the Company beginning January 1, 2019. The Company is currently assessing the impact adoption of this standard will have on its consolidated results of operations, financial condition, cash flows, and financial statement disclosures.
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 or significant value drivers are unobservable. The Company’s available-for-sale securities by level within the fair value hierarchy were as follows (in thousands): As of December 31, 2015 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 5,371 $ — $ — $ 5,371 Short-term investments: Corporate debt securities — 26,088 — 26,088 U.S. government-related debt securities — 1,100 — 1,100 Total $ 5,371 $ 27,188 $ — $ 32,559 As of December 31, 2014 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 13,426 $ — $ — $ 13,426 Short-term investments: Corporate debt securities — 47,307 — 47,307 U.S. government-related debt securities — 4,498 — 4,498 Asset-backed securities — 3,197 — 3,197 Total $ 13,426 $ 55,002 $ — $ 68,428
Net Loss Per Share	Net loss attributable to common stockholders per share is computed by dividing the net loss allocable to common stockholders by the weighted average number of shares of common stock outstanding. Outstanding stock options, warrants and preferred stock, have not been included in the calculation of diluted net loss attributable to common stockholders 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.

Short-term Investments (Tables)

Short-term Investments (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2015 Amortized cost Gross Gross Fair value Corporate debt securities $ 26,116 $ — $ (28 ) $ 26,088 U.S. government-related debt securities 1,101 — (1 ) 1,100 Total available-for-sale securities $ 27,217 $ — $ (29 ) $ 27,188 Type of security as of December 31, 2014 Amortized cost Gross Gross Fair value Corporate debt securities $ 47,345 $ 2 $ (40 ) $ 47,307 U.S. government-related debt securities 4,502 — (4 ) 4,498 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 at December 31 were as follows (in thousands): 2015 2014 Maturing in one year or less $ 27,188 $ 51,235 Maturing in one to three years — 3,767 Total available-for-sale securities $ 27,188 $ 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 December 31, 2015 (in thousands): Less Than 12 Months More Than 12 Months Total Fair value Gross Fair value Gross Fair value Gross Corporate debt securities $ 23,357 $ (24 ) $ 2,730 $ (4 ) $ 26,087 $ (28 ) U.S. government-related debt securities 1,100 (1 ) — — 1,101 (1 ) Total $ 24,457 $ (25 ) $ 2,730 $ (4 ) $ 27,188 $ (29 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2015 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 5,371 $ — $ — $ 5,371 Short-term investments: Corporate debt securities — 26,088 — 26,088 U.S. government-related debt securities — 1,100 — 1,100 Total $ 5,371 $ 27,188 $ — $ 32,559 As of December 31, 2014 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 13,426 $ — $ — $ 13,426 Short-term investments: Corporate debt securities — 47,307 — 47,307 U.S. government-related debt securities — 4,498 — 4,498 Asset-backed securities — 3,197 — 3,197 Total $ 13,426 $ 55,002 $ — $ 68,428

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following at December 31 (in thousands): 2015 2014 Raw materials $ 3,575 $ 1,299 Work in process 2,895 2,157 Finished goods 3,668 1,988 $ 10,138 $ 5,444

Prepaid Expenses and Other Cu32

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Prepaid Expenses and Other	Prepaid expenses and other consisted of the following at December 31 (in thousands): 2015 2014 Deposits for inventory $ 1,664 $ 2,207 Subsidiary bank trust deposits 539 626 Marketing events 518 525 Insurance 314 309 Software licensing fees 278 220 R&D equipment service agreements 163 220 Dues and subscriptions 96 151 Other 314 856 $ 3,886 $ 5,114

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consisted of the following at December 31 (in thousands): Useful Life 2015 2014 Manufacturing equipment 5 $ 4,543 $ 3,654 Lease and loaner instruments 1 -5 3,318 2,629 Prototype instruments 2 2,956 2,157 Computer equipment 3 1,847 1,430 Furniture and fixtures 5 1,390 831 Leasehold improvements Various 5,874 4,888 Construction in progress 1,921 1,058 21,849 16,647 Less: Accumulated depreciation and amortization (12,435 ) (10,281 ) $ 9,414 $ 6,366

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued liabilities consisted of the following at December 31 (in thousands): 2015 2014 Employee compensation $ 8,039 $ 6,838 Royalties payable 828 632 Construction related costs for leasehold improvements 640 50 Clinical study costs 563 572 Sales, use and other taxes 551 543 Warranty reserves 299 503 Accounting and legal 427 297 Other accrued liabilities 834 968 $ 12,181 $ 10,403

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Long-term debt and lease financing obligations	Long-term debt and lease financing obligations consisted of the following at December 31 (in thousands): 2015 2014 Term loans payable $ 41,487 $ 30,420 Lease financing obligations 284 506 Total long-term debt and lease financing obligations 41,771 30,926 Unamortized debt issuance costs (545 ) (680 ) Current portion of lease financing obligations (226 ) (251 ) Long-term debt and lease financing obligations, net of debt issuance costs and current portion $ 41,000 $ 29,995
Scheduled Future Payments of Principal for Outstanding Debt and Lease Financing Obligations	Scheduled future payments of principal for outstanding debt and lease financing obligations were as follows at December 31: 2016 $ 226 2017 58 2018 — 2019 — 2020 — Thereafter 41,487 $ 41,771

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option Activity and Related Information	A summary of the Company’s stock option activity and related information follows: Shares Weighted- Weighted- Aggregate (in thousands) Outstanding at December 31, 2014 3,294,822 $ 9.98 8.08 $ 17,985 Granted 1,455,150 12.94 Canceled (45,939 ) 14.97 Forfeited (335,449 ) 14.00 Exercised (201,622 ) 3.58 Outstanding at December 31, 2015 4,166,962 $ 10.94 7.81 $ 19,163 December 31, 2015: Options vested and expected to vest 4,117,768 $ 10.93 7.80 $ 19,074 Options exercisable 2,108,076 $ 8.37 6.94 $ 15,006
Company's Options Outstanding	The following table summarizes information about the Company’s options outstanding at December 31, 2015: Options Outstanding Options Exercisable Exercise Price Number of Weighted- Number of Weighted- $0.00 – 1.92 645,113 6.26 589,799 6.19 2.24 – 3.84 317,814 4.28 317,796 4.28 5.12 – 6.72 371,802 6.98 277,781 6.97 8.96 – 10.94 273,276 8.32 113,223 7.82 11.14 – 12.56 283,315 8.49 87,449 8.09 12.77 – 13.93 972,726 9.11 216,977 9.09 14.04 – 16.22 414,690 9.24 64,635 8.45 $17.24 – 20.65 888,226 8.10 440,416 8.10 4,166,962 2,108,076
Schedule of Weighted Average Fair Value of Options Granted	The following table summarizes information about the Company’s stock option plan for the years ended December 31: 2015 2014 2013 Fair value of vested stock options (in thousands) $ 6,468 $ 3,543 $ 920 Aggregate intrinsic value for options exercised (in thousands) $ 2,067 $ 2,220 $ 681 Weighted-average grant date fair value per share $ 7.20 $ 9.45 $ 5.30
Stock Compensation Expense	The following table sets forth stock-based compensation expense related to stock-based arrangements under the 2004 Stock Option Plan and the 2013 Equity Incentive Plan for the years ended December 31 as follows (in thousands): 2015 2014 2013 Cost of revenue $ 471 $ 281 $ 49 Research and development 1,453 1,018 273 Selling, general and administrative 3,919 3,234 823 Total stock-based compensation expense $ 5,843 $ 4,533 $ 1,145
Fair Value of Employee Option Grant	The fair value of each employee option grant as of December 31 was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions: 2015 2014 2013 Risk-free interest rates 1.37%–1.97% 1.74%–2.15% 1.05%–1.95% Expected term (years) 6.25 6.25 6.25 Expected dividend yield — — — Expected volatility 57.0% 57.0% 57.0%–58.0%

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Loss Before Income Taxes	Loss before income taxes for the years ended December 31 consisted of the following (in thousands): 2015 2014 2013 Domestic $ (46,065 ) $ (50,455 ) $ (28,746 ) Foreign 650 417 (535 ) Loss before income taxes $ (45,415 ) $ (50,038 ) $ (29,281 )
Significant Components of our Provision for Income Taxes	Significant components of our provision for income taxes for the years ended December 31 are as follows (in thousands): 2015 2014 2013 Current: Domestic $ — $ — $ — Foreign 166 — — Total current provision 166 — — Deferred: Domestic — — — Foreign — — — Total deferred provision — — — Total provision for income taxes $ 166 $ — $ —
Income Tax Expense (Benefit) Differed from Amounts Computed by Applying Statutory Federal Income Tax Rate	Income tax expense (benefit) differed from the amounts computed by applying the statutory federal income tax rate of 34% to pretax loss as a result of the following for the years ended December 31 (in thousands): 2015 2014 2013 Income tax provision at statutory rate $ (15,662 ) $ (17,013 ) $ (9,955 ) Nondeductible items 401 456 (32 ) Change in tax credits (792 ) (678 ) (893 ) Change in valuation allowance 16,706 17,911 10,965 Foreign tax and other (487 ) (676 ) (85 ) $ 166 $ — $ —
Effect of Temporary Differences and Carryforwards	The effect of temporary differences and carryforwards that give rise to deferred tax assets for the years ended December 31 were as follows (in thousands): 2015 2014 Net operating loss carryforwards $ 57,158 $ 47,444 Research and development tax credit carryforwards 3,124 2,332 Stock-based compensation 3,212 1,583 Other 7,135 2,564 Total deferred tax assets 70,629 53,923 Less: Valuation allowance (70,629 ) (53,923 ) Net deferred tax assets $ — $ —
Summary of Changes in Deferred Tax Asset Valuation Allowance	The table below summarizes changes in the deferred tax asset valuation allowance (in thousands): Balance Charged Write-offs Balance Deferred tax valuation allowance: For year ended December 31, 2013 $ 25,047 $ 10,965 $ — $ 36,012 For year ended December 31, 2014 36,012 17,911 — 53,923 For year ended December 31, 2015 53,923 16,706 — 70,629
Total Balance of Unrecognized Gross Tax Benefits Resulting from R&D Credits Claimed	The total balance of unrecognized gross tax benefits for the years ended December 31, resulting from R&D credits claimed on the Company’s annual tax return was as follows (in thousands): 2015 2014 2013 Unrecognized tax benefits at beginning of year $ 777 $ 551 $ 253 Additions (reductions) based on current year tax positions 264 226 298 Unrecognized tax benefits at end of year $ 1,041 $ 777 $ 551

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments under Noncancelable Operating Leases	Future minimum lease payments under noncancelable operating leases as of December 31, 2015 were as follows (in thousands): 2016 $ 3,282 2017 3,776 2018 3,884 2019 3,993 2020 4,106 Thereafter 22,453 $ 41,494

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator Used in Computing Basic and Diluted Net Loss per Share	The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss per share for the years ended December 31 (in thousands): 2015 2014 2013 Numerator: Net loss $ (45,581 ) $ (50,038 ) $ (29,281 ) Accretion of mandatorily redeemable convertible preferred stock — — (4,653 ) Net loss attributable to common stockholders $ (45,581 ) $ (50,038 ) $ (33,934 ) Denominator: Weighted-average common shares outstanding-basic and diluted 19,027 17,839 7,643
Summary of Outstanding Options, Warrants and preferred stock were Excluded from Computation of Diluted Net Loss Per Share	The following outstanding options, warrants and preferred stock as of December 31 were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive (in thousands): 2015 2014 2013 Options to purchase common stock 4,069 3,295 2,113 Common stock warrants 572 572 618

Information about Geographic 40

Information about Geographic Areas (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Classification of Revenue by Geography	The following table is based on the geographic location of distributors or end users who purchased products and services and collaborators. For sales to distributors, their geographic location may be different from the geographic locations of the ultimate end user. Revenue by geography as of December 31 was as follows (in thousands): 2015 2014 2013 Americas $ 41,265 $ 32,244 $ 21,855 Europe & Middle East 14,807 9,174 5,775 Asia Pacific 6,595 6,175 3,773 Total revenue $ 62,667 $ 47,593 $ 31,403

Condensed Quarterly Financial41

Condensed Quarterly Financial Data (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Condensed Quarterly Financial Data	The operating results for any quarter are not necessarily indicative of results for any future period. Three months ended March 31, June 30, September 30, December 31, (in thousands, except per share data) 2015 Total revenue $ 11,593 $ 13,066 $ 15,693 $ 22,315 Net loss $ (14,894 ) $ (12,404 ) $ (9,467 ) $ (8,816 ) Net loss per share – basic and diluted $ (0.81 ) $ (0.66 ) $ (0.49 ) $ (0.44 ) 2014 Total revenue $ 8,751 $ 10,881 $ 12,343 $ 15,618 Net loss $ (11,422 ) $ (14,088 ) $ (12,148 ) $ (12,380 ) Net loss per share – basic and diluted $ (0.68 ) $ (0.78 ) $ (0.67 ) $ (0.68 )

Description of the Business - A

Description of the Business - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2015	May. 31, 2015	Feb. 28, 2014	Jan. 31, 2014	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsidiary, Sale of Stock [Line Items]
Place of incorporation						Delaware
Date of incorporation						Jun. 20, 2003
Reverse stock split of common stock and preferred stock						1-for-32
Common stock, shares issued				2,972,972	5,400,000
Common stock price per share	$ 0.0001				$ 10	$ 0.0001	$ 0.0001
Preferred stock, shares outstanding	0				0	0
Proceeds from underwritten public offering				$ 55,000		$ 12,518	$ 56,987	$ 46,820
Underwriters partially exercised an overallotment option, additional gross proceeds			$ 6,400			$ 876	$ 411	$ 387
Proceeds from underwritten public offering after fees and commissions			$ 57,000
Cowen And Company, LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Common stock, shares issued	960,400
Proceeds from underwritten public offering after fees and commissions	$ 12,500
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 the sales agent upon five days' notice.
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%
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Common stock, shares issued			345,945
At the market equity offering [Member] | Cowen And Company, LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Common stock remained available for sale	$ 27,000					$ 27,000

Significant Accounting Polici43

Significant Accounting Policies - Additional Information (Detail)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2013USD ($)Segment	Dec. 31, 2013USD ($)Segment	Dec. 31, 2015USD ($)SegmentCustomer	Dec. 31, 2014USD ($)Customer	Dec. 31, 2013USD ($)Customer	Dec. 31, 2012USD ($)
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts			$ 96,600	$ 63,000
Allowance for doubtful accounts, additions			33,600	63,000	$ 0
Write-offs of uncollectible accounts			0	0	0
Inventory reserves	$ 2,100,000	$ 2,100,000	2,200,000	2,200,000	2,100,000	$ 3,500,000
Inventory reserves additions			200,000	200,000	400,000
Write-offs of inventory reserves			300,000	100,000	1,800,000
Impairment losses on long-lived assets			0
Deferred offering costs			$ 181,000	0
Number of reportable segments | Segment	1	2	1
Extended warranties description			The Company offers service agreements on its nCounter Analysis System 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%
Product warranty accrual period			1 year
Advertising costs			$ 2,600,000	5,100,000	$ 3,300,000
Guarantees and indemnifications liabilities			$ 0	$ 0
Manufacturing Equipment [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			5 years
Prototype Systems [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			2 years
Computer Equipment [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			3 years
Furniture and Fixtures [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			5 years
Leasehold Improvements [Member]
Significant Accounting Policies [Line Items]
Estimated useful live of leasehold improvements			Life of the related assets or the term of the lease, whichever is shorter
Minimum [Member]
Significant Accounting Policies [Line Items]
Extended warranty period			12 months
Minimum [Member] | Lease and Loaner Instruments [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			1 year
Maximum [Member]
Significant Accounting Policies [Line Items]
Extended warranty period			36 months
Maximum [Member] | Lease and Loaner Instruments [Member]
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			5 years
Customer Concentration Risk [Member] | Total revenue [Member]
Significant Accounting Policies [Line Items]
Number of customer that individually represented more than 10% of total revenue and accounts receivable | Customer			0	0	0
Customer Concentration Risk [Member] | Total revenue [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage			10.00%	10.00%	10.00%
Credit Concentration Risk [Member] | Total accounts receivable [Member]
Significant Accounting Policies [Line Items]
Number of customer that individually represented more than 10% of total revenue and accounts receivable | Customer			0	1
Credit Concentration Risk [Member] | Total accounts receivable [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage			10.00%	21.00%

Short-term Investments - Short-

Short-term Investments - Short-Term Investments Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 27,217	$ 55,045
Gross unrealized gains	0	2
Gross unrealized losses	(29)	(45)
Fair value	27,188	55,002
Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	26,116	47,345
Gross unrealized gains	0	2
Gross unrealized losses	(28)	(40)
Fair value	26,088	47,307
U.S. government-related debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,101	4,502
Gross unrealized gains	0
Gross unrealized losses	(1)	(4)
Fair value	$ 1,100	4,498
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost		3,198
Gross unrealized losses		(1)
Fair value		$ 3,197

Short-term Investments - Fair V

Short-term Investments - Fair Values of Available-for-Sale Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Maturing in one year or less	$ 27,188	$ 51,235
Maturing in one to three years	0	3,767
Total available-for-sale securities	$ 27,188	$ 55,002

Short-term Investments - Summar

Short-term Investments - Summary of Investments in Continuous Unrealized Loss Position (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair value	$ 24,457
Less Than 12 Months, Gross unrealized losses	(25)
12 Months or Greater, Fair value	2,730
12 Months or Greater, Gross unrealized losses	(4)
Total, Fair value	27,188
Total, Gross unrealized losses	(29)
Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair value	23,357
Less Than 12 Months, Gross unrealized losses	(24)
12 Months or Greater, Fair value	2,730
12 Months or Greater, Gross unrealized losses	(4)
Total, Fair value	26,087
Total, Gross unrealized losses	(28)
U.S. government-related debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair value	1,100
Less Than 12 Months, Gross unrealized losses	(1)
12 Months or Greater, Fair value	0
12 Months or Greater, Gross unrealized losses	0
Total, Fair value	1,101
Total, Gross unrealized losses	$ (1)

Short-term Investments - Additi

Short-term Investments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 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	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 27,188	$ 55,002
Total	32,559	68,428
Money market fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	5,371	13,426
Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	26,088	47,307
U.S. government-related debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	1,100	4,498
Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		3,197
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	5,371	13,426
Level 1 [Member] | Money market fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	5,371	13,426
Level 1 [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0
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 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	27,188	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
Level 2 [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	26,088	47,307
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	1,100	4,498
Level 2 [Member] | Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		$ 3,197
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0
Level 3 [Member] | Money market fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	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
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

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 3,575	$ 1,299
Work in process	2,895	2,157
Finished goods	3,668	1,988
Inventory, net	$ 10,138	$ 5,444

Inventory - Additional Informat

Inventory - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Inventory transferred into property, plant and equipment for internal use	$ 0.8	$ 2.5

Prepaid Expenses and Other Cu51

Prepaid Expenses and Other Current Assets - Prepaid Expenses and Other (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deposits for inventory	$ 1,664	$ 2,207
Subsidiary bank trust deposits	539	626
Marketing events	518	525
Insurance	314	309
Software licensing fees	278	220
R&D equipment service agreements	163	220
Dues and subscriptions	96	151
Other	314	856
Total prepaid expenses and other	$ 3,886	$ 5,114

Property and Equipment - Proper

Property and Equipment - Property and Equipment (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 21,849,000	$ 16,647,000
Less: Accumulated depreciation and amortization	(12,435,000)	(10,281,000)
Property and Equipment, net	$ 9,414,000	6,366,000
Manufacturing Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Useful Life	5 years
Property and Equipment, gross	$ 4,543,000	3,654,000
Lease and Loaner Instruments [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	3,318,000	2,629,000
Less: Accumulated depreciation and amortization	$ (867,000)	(128,000)
Lease and Loaner Instruments [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Useful Life	1 year
Lease and Loaner Instruments [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Useful Life	5 years
Prototype Instruments [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Useful Life	2 years
Property and Equipment, gross	$ 2,956,000	2,157,000
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Useful Life	3 years
Property and Equipment, gross	$ 1,847,000	1,430,000
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Useful Life	5 years
Property and Equipment, gross	$ 1,390,000	831,000
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Useful Life	Life of the related assets or the term of the lease, whichever is shorter
Property and Equipment, gross	$ 5,874,000	4,888,000
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 1,921,000	$ 1,058,000

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ 12,435,000	$ 10,281,000
Depreciation and amortization	2,377,000	1,590,000	$ 1,990,000
Lease and Loaner Instruments [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ 867,000	$ 128,000

Accrued Liabilities - Accrued L

Accrued Liabilities - Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Liabilities Disclosure [Abstract]
Employee compensation	$ 8,039	$ 6,838
Royalties payable	828	632
Construction related costs for leasehold improvements	640	50
Clinical study costs	563	572
Sales, use and other taxes	551	543
Warranty reserves	299	503
Accounting and legal	427	297
Other accrued liabilities	834	968
Total accrued liabilities	$ 12,181	$ 10,403

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail) - USD ($)	1 Months Ended		12 Months Ended
	Oct. 31, 2015	Apr. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2016	Jun. 30, 2016	Oct. 30, 2015	Oct. 31, 2014
Line of Credit Facility [Line Items]
Loss on extinguishment of debt			$ 0	$ (581,000)	$ 0
Increase in annual revenue in fiscal years	$ 15,000,000
Minimum liquidity covenant	2,000,000
Annual revenue requirements	55,000,000
Annual revenue recognize description			The term loan agreement also includes a $2.0 million minimum liquidity covenant and revenue-based financial covenants, which was $55.0 million for 2015 with annual increases of $15.0 million for each subsequent fiscal year thereafter
Property and equipment, net			$ 9,414,000	6,366,000
Accumulated depreciation			12,435,000	10,281,000
Leased Property [Member]
Line of Credit Facility [Line Items]
Property and equipment, net			716,500,000	668,500,000
Accumulated depreciation			286,600,000	102,600,000
Series D Preferred Stock [Member]
Line of Credit Facility [Line Items]
Number of shares issuable upon exercise of warrants						76,940
Exercise price of warrants						$ 8.45
Series E Preferred Stock [Member]
Line of Credit Facility [Line Items]
Number of shares issuable upon exercise of warrants					10,418	20,837
Exercise price of warrants						$ 14.40
Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Credit facility, additional borrowing capacity					$ 5,000,000	$ 13,000,000
Maximum [Member] | Series E Preferred Stock [Member]
Line of Credit Facility [Line Items]
Fair value of warrants, volatility rate assumed						61.00%
Fair value of warrants, risk free rate assumed						2.20%
Minimum [Member] | Series E Preferred Stock [Member]
Line of Credit Facility [Line Items]
Fair value of warrants, volatility rate assumed						57.00%
Fair value of warrants, risk free rate assumed						1.63%
Term Loan Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 60,000,000	$ 45,000,000
Credit facility, outstanding		20,000,000	41,500,000
End of term payment		1,000,000
Amount of make-whole premium payment		300,000
Credit facility additional borrowing										$ 10,000,000
Total charge to interest expense		1,400,000
Loss on extinguishment of debt		$ 600,000
Percentage of accrue interest	12.00%
Percentage of deferred payment									3.00%
Deferred interest			1,500,000	30,400,000
Credit facility, additional borrowing capacity			$ 10,000,000
Percentage of redemption fee			4.00%
Principal and interest payment frequency			The Company may pay interest-only for the first seven years of the term and principal payments are due in four equal installments during the eighth year of the term
Percentage payment up on repayment of principal amount			2.00%
Long term liability			$ 1,100,000
Interest expense			$ 4,000,000	4,100,000	$ 1,900,000
Total incurred and recorded repayment				1,400,000
Loss on extinguishment of debt				$ 600,000
Term Loan Agreement [Member] | Scenario, Forecast [Member]
Line of Credit Facility [Line Items]
Credit facility, additional borrowing capacity							$ 15,000,000	$ 5,000,000
Term Loan Agreement [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Percentage of accrue interest	12.50%
Term Loan Agreement [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Percentage of accrue interest	12.00%
Percentage of redemption fee			1.00%

Long-term Debt - Long-term debt

Long-term Debt - Long-term debt and lease financing obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Term loans payable	$ 41,487	$ 30,420
Lease financing obligations	284	506
Total long-term debt and lease financing obligations	41,771	30,926
Unamortized debt issuance costs	(545)	(680)
Current portion of lease financing obligations	(226)	(251)
Long-term debt and lease financing obligations, net of debt issuance costs and current portion	$ 41,000	$ 29,995

Long-term Debt - Scheduled Futu

Long-term Debt - Scheduled Future Payments of Principal For Outstanding Debt and Lease Financing Obligations (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Debt Disclosure [Abstract]
2,016	$ 226
2,017	58
2,018	0
2,019	0
2,020	0
Thereafter	41,487
Total Long Term Debt	$ 41,771

Collaboration Agreements - Addi

Collaboration Agreements - Additional Information (Detail) - USD ($)	1 Months Ended			12 Months Ended
	Oct. 31, 2015	Jul. 31, 2015	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Milestone payments	$ 55,000,000
Amount of certain milestones achieved in account receivable				$ 19,725,000	$ 12,436,000
Revenue recognized under collaboration agreement				6,028,000	3,096,000	$ 0
Estimated deferred revenue recognized within one year				5,261,000	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				2,200,000	2,900,000	0
Deferred revenue recorded under collaboration agreement				8,200,000
Estimated deferred revenue recognized within one year				2,800,000
Celgene Corporation [Member] | Amended Collaborative Agreement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement upfront payment				1,600,000
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] | Success Based Development and Regulatory Milestones [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Milestone payments				17,000,000
Celgene Corporation [Member] | Maximum [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Milestone payments				45,000,000
Merck Agreement [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue recognized under collaboration agreement				3,700,000	$ 0	$ 0
Estimated deferred revenue recognized within one year				147,000
Development payments				$ 1,900,000
Merck Agreement [Member] | Upfront Payment Arrangement [Member] | Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement upfront payment		$ 2,000,000

Common Stock and Preferred St59

Common Stock and Preferred Stock - Additional Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Vote / shares$ / sharesshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)shares	Dec. 31, 2012shares	Jun. 30, 2013shares
Common And Preferred Stock [Line Items]
Conversion of Convertible Preferred Stock Into Common Stock, Shares			8,631,427	8,631,427
Each share of common stock is entitled to vote | Vote / shares	1
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0				0
Accretion of mandatorily redeemable convertible preferred stock | $	$ 0	$ 0	$ 4,653
Preferred Stock, redemption rate	8.00%
Preferred stock warrants were converted into warrants to purchase common stock	572,246
Exercise price of common stock warrants | $ / shares	$ 8.77
Minimum [Member]
Common And Preferred Stock [Line Items]
Warrant expiration date	2,018
Maximum [Member]
Common And Preferred Stock [Line Items]
Warrant expiration date	2,023
Mandatorily Redeemable Convertible Preferred Stock [Member]
Common And Preferred Stock [Line Items]
Redemption terms	At any time after November 29, 2017 and upon 30 day notice from the holders of 65% of the outstanding Preferred Stock
Preferred stock, redemption date	Nov. 29, 2017
Preferred stock, redemption notice period	30 days
Holders outstanding preferred stock	65.00%
Series A Preferred Stock [Member]
Common And Preferred Stock [Line Items]
Conversion of Convertible Preferred Stock Into Common Stock, Shares			(557,339)
Preferred stock converted into common stock on a basis				1.403030-for-one basis
Series B Preferred Stock [Member]
Common And Preferred Stock [Line Items]
Conversion of Convertible Preferred Stock Into Common Stock, Shares			(515,836)
Preferred stock converted into common stock on a basis				1.559429-for-one basis
Series C Preferred Stock [Member]
Common And Preferred Stock [Line Items]
Conversion of Convertible Preferred Stock Into Common Stock, Shares			(3,551,060)
Preferred stock converted into common stock on a basis				One-for-one basis
Series D Preferred Stock [Member]
Common And Preferred Stock [Line Items]
Conversion of Convertible Preferred Stock Into Common Stock, Shares			(2,430,054)
Preferred stock converted into common stock on a basis				One-for-one basis
Series E Preferred Stock [Member]
Common And Preferred Stock [Line Items]
Conversion of Convertible Preferred Stock Into Common Stock, Shares			(1,063,951)
Preferred stock converted into common stock on a basis				One-for-one basis

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, granted		1,455,150
Tax benefit recognized related to share-based compensation cost		$ 0
Unrecognized compensation cost		$ 14,300,000
Unrecognized compensation cost, weighted-average recognized period		2 years 7 months 10 days
Total share-based compensation expense		$ 6,278,000	$ 4,926,000	$ 1,145,000
Exercise Prices that Were Less than the Estimated per Share Value [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, granted				101,487
2004 Stock Option Plan and 2013 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share available for grant		5,446,915
Stock options grant period, years		10 years
Stock options vesting period and exercisable period, years		4 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share available for grant		332,704
Offering period description		The offering periods generally start with the first trading day on or after March 1 and September 1 of each year and end on the first trading day on or after March 1 and September 1 of the following year, approximately 12 months later. Within each offering period, shares will be purchased each 6 months on an exercise date. The first offering period began in August 2013.
Length of offering period, in months	12 months
Length of purchase periods, in months	6 months
Shares issued		136,078	141,386	0
Common stock reserved for issuance		610,166
Total share-based compensation expense		$ 435,000	$ 394,000
Employee Stock Purchase Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contribution percentage of purchase shares on participants eligible compensation		0.00%
Employee Stock Purchase Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contribution percentage of purchase shares on participants eligible compensation		10.00%
Employee Stock Purchase Plan [Member] | First Trading Day of Offering Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price percentage of fair market value of shares		85.00%
Employee Stock Purchase Plan [Member] | Exercise Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price percentage of fair market value of shares		85.00%

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity and Related Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares outstanding, beginning balance	3,294,822
Shares, granted	1,455,150
Shares, cancelled	(45,939)
Shares, forfeited	(335,449)
Shares, exercised	(201,622)
Shares outstanding, ending balance	4,166,962	3,294,822
Shares, options vested and expected to vest	4,117,768
Shares, options exercisable	2,108,076
Outstanding weighted-average exercise price per share, beginning balance	$ 9.98
Weighted-average exercise price per share, granted	12.94
Weighted-average exercise price per share, cancelled	14.97
Weighted-average exercise price per share, forfeited	14
Weighted-average exercise price per share, exercised	3.58
Weighted-average exercise price per share, ending balance	10.94	$ 9.98
Options vested and expected to vest	10.93
Options exercisable	$ 8.37
Outstanding weighted-average remaining contractual life	7 years 9 months 22 days	8 years 29 days
Weighted-average remaining contractual term, options vested and expected to vest	7 years 9 months 18 days
Weighted-average remaining contractual term, options exercisable	6 years 11 months 9 days
Outstanding aggregate intrinsic value, ending balance	$ 19,163	$ 17,985
Aggregate intrinsic value, options vested and expected to vest	19,074
Aggregate intrinsic value, options exercisable	$ 15,006

Stock-Based Compensation - Comp

Stock-Based Compensation - Company's Options Outstanding (Detail)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding - Number of Shares	4,166,962
Options Exercisable - Number of Shares	2,108,076
Exercise Price Range 0.00 - 1.92 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Minimum | $ / shares	$ 0
Exercise Price, Maximum | $ / shares	$ 1.92
Options Outstanding - Number of Shares	645,113
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	6 years 3 months 4 days
Options Exercisable - Number of Shares	589,799
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	6 years 2 months 9 days
Exercise Price Range 2.24 - 3.84 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Minimum | $ / shares	$ 2.24
Exercise Price, Maximum | $ / shares	$ 3.84
Options Outstanding - Number of Shares	317,814
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	4 years 3 months 11 days
Options Exercisable - Number of Shares	317,796
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	4 years 3 months 11 days
Exercise Price Range 5.12 - 6.72 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Minimum | $ / shares	$ 5.12
Exercise Price, Maximum | $ / shares	$ 6.72
Options Outstanding - Number of Shares	371,802
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	6 years 11 months 23 days
Options Exercisable - Number of Shares	277,781
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	6 years 11 months 19 days
Exercise Price Range 8.96 - 10.94 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Minimum | $ / shares	$ 8.96
Exercise Price, Maximum | $ / shares	$ 10.94
Options Outstanding - Number of Shares	273,276
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	8 years 3 months 26 days
Options Exercisable - Number of Shares	113,223
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	7 years 9 months 26 days
Exercise Price Range 11.14 - 12.56 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Minimum | $ / shares	$ 11.14
Exercise Price, Maximum | $ / shares	$ 12.56
Options Outstanding - Number of Shares	283,315
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	8 years 5 months 27 days
Options Exercisable - Number of Shares	87,449
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	8 years 1 month 2 days
Exercise Price Range 12.77 - 13.93 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Minimum | $ / shares	$ 12.77
Exercise Price, Maximum | $ / shares	$ 13.93
Options Outstanding - Number of Shares	972,726
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	9 years 1 month 10 days
Options Exercisable - Number of Shares	216,977
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	9 years 1 month 2 days
Exercise Price Range 14.04 - 16.22 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Minimum | $ / shares	$ 14.04
Exercise Price, Maximum | $ / shares	$ 16.22
Options Outstanding - Number of Shares	414,690
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	9 years 2 months 27 days
Options Exercisable - Number of Shares	64,635
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	8 years 5 months 12 days
Exercise Price Range 17.24 - 20.65 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Minimum | $ / shares	$ 17.24
Exercise Price, Maximum | $ / shares	$ 20.65
Options Outstanding - Number of Shares	888,226
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	8 years 1 month 6 days
Options Exercisable - Number of Shares	440,416
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	8 years 1 month 6 days

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Weighted Average Fair Value of Options Granted (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract]
Fair value of vested stock options	$ 6,468	$ 3,543	$ 920
Aggregate intrinsic value for options exercised	$ 2,067	$ 2,220	$ 681
Weighted-average grant date fair value per share	$ 7.20	$ 9.45	$ 5.30

Stock-Based Compensation - St64

Stock-Based Compensation - Stock Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 5,843	$ 4,533	$ 1,145
Cost of Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	471	281	49
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,453	1,018	273
Selling, General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 3,919	$ 3,234	$ 823

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value of Employee Option Grant (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rates, minimum	1.37%	1.74%	1.05%
Risk-free interest rates, maximum	1.97%	2.15%	1.95%
Expected term (years)	6 years 3 months	6 years 3 months	6 years 3 months
Expected dividend yield	0.00%	0.00%	0.00%
Volatility, minimum			57.00%
Volatility, maximum			58.00%
Expected volatility	57.00%	57.00%

Defined Contribution Retireme66

Defined Contribution Retirement Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]
Contribution for retirement plan	$ 500,000	$ 400,000	$ 0

Income Taxes - Loss Before Inco

Income Taxes - Loss Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Domestic	$ (46,065)	$ (50,455)	$ (28,746)
Foreign	650	417	(535)
Net loss before provision for income taxes	$ (45,415)	$ (50,038)	$ (29,281)

Income Taxes - Significant Comp

Income Taxes - Significant Components of our Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Domestic	$ 0	$ 0	$ 0
Foreign	166	0	0
Total current provision	166	0	0
Deferred:
Domestic	0	0	0
Foreign	0	0	0
Total deferred provision	0	0	0
Income tax expense (benefit)	$ 166	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Income Taxes And Tax Related [Line Items]
Statutory federal income tax rate	34.00%
Federal and State [Member]
Income Taxes And Tax Related [Line Items]
Net operating loss carryforwards	$ 165.4
Tax credit carryforwards	$ 4.2
Earliest Tax Year [Member]
Income Taxes And Tax Related [Line Items]
Operating loss carryforwards expiration year	2,025
Open for examination	2,004
Latest Tax Year [Member]
Income Taxes And Tax Related [Line Items]
Operating loss carryforwards expiration year	2,036

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Benefit) Differed from Amounts Computed by Applying Statutory Federal Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Income tax provision at statutory rate	$ (15,662)	$ (17,013)	$ (9,955)
Nondeductible items	401	456	(32)
Change in tax credits	(792)	(678)	(893)
Change in valuation allowance	16,706	17,911	10,965
Foreign tax and other	(487)	(676)	(85)
Income tax expense (benefit)	$ 166	$ 0	$ 0

Income Taxes - Effect of Tempor

Income Taxes - Effect of Temporary Differences and Carryforwards (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 57,158	$ 47,444
Research and development tax credit carryforwards	3,124	2,332
Stock-based compensation	3,212	1,583
Other	7,135	2,564
Total deferred tax assets	70,629	53,923
Less: Valuation allowance	(70,629)	(53,923)	$ (36,012)	$ (25,047)
Net deferred tax assets	$ 0	$ 0

Income Taxes - Summary of Chang

Income Taxes - Summary of Changes in Deferred Tax Asset Valuation Allowance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ 53,923	$ 36,012	$ 25,047
Balance at End of Year	70,629	53,923	36,012
Valuation Allowance of Deferred Tax Assets [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Charged to Costs and Expenses	16,706	17,911	10,965
Write-offs	$ 0	$ 0	$ 0

Income Taxes - Total Balance of

Income Taxes - Total Balance of Unrecognized Gross Tax Benefits Resulting from R&D Credits Claimed (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at beginning of year	$ 777	$ 551	$ 253
Additions (reductions) based on current year tax positions	264	226	298
Unrecognized tax benefits at end of year	$ 1,041	$ 777	$ 551

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)ft²Lease	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of operating leases | Lease	3
General office, laboratory, and research and development space leased | ft²	80,273
Operating lease expiring year	2,026
Deferred rent liability	$ 4,257	$ 1,317
Operating lease agreement rent expense	3,200	$ 1,400	$ 1,200
Non cancellable purchase obligations	$ 9,200

Commitments and Contingencies75

Commitments and Contingencies - Future Minimum Lease Payments under Noncancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 3,282
2,017	3,776
2,018	3,884
2,019	3,993
2,020	4,106
Thereafter	22,453
Total	$ 41,494

Net Loss Per Share - Reconcilia

Net Loss Per Share - Reconciliation of Numerator and Denominator Used in Computing Basic and Diluted Net Loss per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator:
Net loss	$ (8,816)	$ (9,467)	$ (12,404)	$ (14,894)	$ (12,380)	$ (12,148)	$ (14,088)	$ (11,422)	$ (45,581)	$ (50,038)	$ (29,281)
Accretion of mandatorily redeemable convertible preferred stock									0	0	(4,653)
Net loss attributable to common stockholders									$ (45,581)	$ (50,038)	$ (33,934)
Denominator:
Weighted-average common shares outstanding-basic and diluted									19,027	17,839	7,643

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Outstanding Options, Warrants and preferred stock were Excluded from Computation of Diluted Net Loss Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
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	4,069	3,295	2,113
Common Stock [Member] | Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	572	572	618

Information about Geographic 78

Information about Geographic Areas - Classification of Revenue by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 22,315	$ 15,693	$ 13,066	$ 11,593	$ 15,618	$ 12,343	$ 10,881	$ 8,751	$ 62,667	$ 47,593	$ 31,403
Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									41,265	32,244	21,855
Europe & Middle East [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									14,807	9,174	5,775
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									$ 6,595	$ 6,175	$ 3,773

Information about Geographic 79

Information about Geographic Areas - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 22,315	$ 15,693	$ 13,066	$ 11,593	$ 15,618	$ 12,343	$ 10,881	$ 8,751	$ 62,667	$ 47,593	$ 31,403
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									$ 37,900	$ 29,000	$ 19,300

Condensed Quarterly Financial80

Condensed Quarterly Financial Data (unaudited) - Schedule of Condensed Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 22,315	$ 15,693	$ 13,066	$ 11,593	$ 15,618	$ 12,343	$ 10,881	$ 8,751	$ 62,667	$ 47,593	$ 31,403
Net loss	$ (8,816)	$ (9,467)	$ (12,404)	$ (14,894)	$ (12,380)	$ (12,148)	$ (14,088)	$ (11,422)	$ (45,581)	$ (50,038)	$ (29,281)
Net loss per share - basic and diluted	$ (0.44)	$ (0.49)	$ (0.66)	$ (0.81)	$ (0.68)	$ (0.67)	$ (0.78)	$ (0.68)	$ (2.40)	$ (2.80)	$ (4.44)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - Collaborative Arrangement [Member] - USD ($) $ in Millions	1 Months Ended
	Feb. 29, 2016	Jan. 31, 2016
Technology Access Fee [Member] | Medivation Inc And Astellas Pharma Inc Member
Subsequent Event [Line Items]
Collaboration agreement upfront payment		$ 6
Pre-Clinical Milestone Payment Member | Medivation Inc And Astellas Pharma Inc Member
Subsequent Event [Line Items]
Collaboration arrangements, revenue		6
Development Funding [Member] | Medivation Inc And Astellas Pharma Inc Member
Subsequent Event [Line Items]
Collaboration arrangements, revenue		$ 10
Pre-Clinical Milestone Payments [Member] | Merck And Co Inc [Member]
Subsequent Event [Line Items]
Collaboration arrangements, revenue	$ 12
Technology Access Fees and Development Funding [Member] | Merck And Co Inc [Member]
Subsequent Event [Line Items]
Collaboration agreement upfront payment	$ 12