Kura Oncology (KURA) 10-Q 7 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 03, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	KURA
Entity Registrant Name	Kura Oncology, Inc.
Entity Central Index Key	1,422,143
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		30,215,556

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	[1]
Current assets:
Cash and cash equivalents	$ 23,336	$ 9,725
Short-term investments	77,469	58,065
Accounts receivable, related party	209	295
Prepaid expenses and other current assets	909	725
Total current assets	101,923	68,810
Property and equipment, net	17	40
Other long-term assets	1,175	971
Total assets	103,115	69,821
Current liabilities:
Accounts payable and accrued expenses	6,196	4,681
Accounts payable and accrued expenses, related party	342	770
Current portion of long-term debt, net	1,024
Total current liabilities	7,562	5,451
Long-term debt, net	6,018	7,324
Other long-term liabilities	336	170
Total liabilities	13,916	12,945
Stockholders' equity:
Preferred stock, $0.0001 par value; 10,000 shares authorized; no shares issued and outstanding
Common stock, $0.0001 par value; 200,000 shares authorized; 30,218 and 21,368 shares issued as of September 30, 2017 and December 31, 2016, respectively; and 29,127 and 19,348 shares outstanding, excluding 1,091 and 2,020 shares subject to repurchase as of September 30, 2017 and December 31, 2016, respectively	3	2
Additional paid-in capital	167,752	110,748
Accumulated other comprehensive loss	(14)	(18)
Accumulated deficit	(78,542)	(53,856)
Total stockholders' equity	89,199	56,876
Total liabilities and stockholders' equity	$ 103,115	$ 69,821
[1]	The balance sheet data at December 31, 2016 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Condensed Balance Sheets (Unau3

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016	[1]
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	30,218,000	21,368,000
Common stock, shares outstanding	29,127,000	19,348,000
Number of shares, subject to repurchase	1,091,000	2,020,000
[1]	The balance sheet data at December 31, 2016 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Expenses:
Research and development	$ 6,808	$ 4,305	$ 17,186	$ 11,831
Research and development, related party	334	1,011	1,121	3,070
General and administrative	2,313	1,717	6,605	5,920
General and administrative, related party	44	25	170	68
Total operating expenses	9,499	7,058	25,082	20,889
Other Income (Expense):
Management fee income, related party	195	195	585	690
Interest income	197	131	449	369
Interest expense	(226)	(194)	(638)	(383)
Total other income	166	132	396	676
Net loss	$ (9,333)	$ (6,926)	$ (24,686)	$ (20,213)
Net loss per share, basic and diluted	$ (0.38)	$ (0.37)	$ (1.16)	$ (1.09)
Weighted average number of shares used in computing net loss per share, basic and diluted	24,344	18,850	21,217	18,549
Comprehensive Loss:
Net loss	$ (9,333)	$ (6,926)	$ (24,686)	$ (20,213)
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities	8	(34)	4	98
Comprehensive loss	$ (9,325)	$ (6,960)	$ (24,682)	$ (20,115)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017		Sep. 30, 2016
Operating Activities
Net loss	$ (24,686)		$ (20,213)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	3,099		1,503
Non-cash interest expense	62		27
Depreciation expense	23		23
Amortization of discount on marketable securities	(73)		119
Changes in operating assets and liabilities:
Accounts receivable, related party	86		169
Prepaid expenses and other current assets	(184)		(193)
Other long-term assets	(205)		(223)
Accounts payable and accrued expenses	1,173		(26)
Accounts payable and accrued expenses, related party	(428)		151
Other long-term liabilities	166		52
Net cash used in operating activities	(20,967)		(18,611)
Investing Activities
Purchases of marketable securities	(79,254)		(41,207)
Maturities of marketable securities	59,927		43,705
Net cash (used in) provided by investing activities	(19,327)		2,498
Financing Activities
Proceeds from issuance of common stock, net	53,683
Proceeds from issuance of long-term debt, net			7,453
Proceeds from exercise of stock options	222
Net cash provided by financing activities	53,905		7,453
Net increase (decrease) in cash and cash equivalents	13,611		(8,660)
Cash and cash equivalents at beginning of period	9,725	[1]	15,443
Cash and cash equivalents at end of period	23,336		6,783
Supplemental disclosure of cash flow information:
Interest paid	$ 466		$ 205
[1]	The balance sheet data at December 31, 2016 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation The Company Kura Oncology, Inc. is a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer. Our pipeline consists of small molecule product candidates that target cancer signaling pathways, and we intend to pair them with molecular or cellular diagnostics to identify those patients most likely to respond to treatment. We intend to advance our product candidates through a combination of internal development and strategic partnerships and maintain significant development and commercial rights. Kura Oncology, Inc. was a private Delaware corporation incorporated in the State of Delaware in August 2014, or Prior Kura. Effective March 6, 2015, Prior Kura completed a reverse merger with a wholly owned subsidiary of Zeta Acquisition Corp. III, or Zeta, with Prior Kura surviving the merger. Zeta was formally a “shell company” under applicable rules of the Securities and Exchange Commission, or SEC. On March 31, 2015, Prior Kura merged with and into Zeta, with Zeta surviving the merger, and Zeta changed its name to “Kura Oncology, Inc.” Basis of Presentation The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as filed with the SEC on March 14, 2017, from which we derived our balance sheet as of December 31, 2016. The accompanying condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, since they are interim statements, the accompanying condensed financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accompanying condensed financial statements reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of our management, necessary to a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The preparation of the condensed financial statements in accordance with GAAP requires our management to make estimates and assumptions that affect the amounts reported on our condensed financial statements and accompanying notes. The amounts reported could differ under different estimates and assumptions. On an ongoing basis, we evaluate our estimates and judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Comprehensive Loss Comprehensive loss is defined as the change in equity during the period from transactions and other events and non-owner sources. For the periods presented, accumulated other comprehensive loss consists solely of unrealized gains and losses on marketable securities. Net Loss per Share Net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of unvested restricted stock awards, outstanding stock options and outstanding warrants. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the antidilutive effect of the securities. Because of our net loss, unvested restricted stock awards, outstanding stock options and outstanding warrants are excluded from the calculation of diluted net loss per common share for the three and nine months ended September 30, 2017 and 2016, due to the anti-dilutive effect of the securities. The following table summarizes the number of potentially dilutive securities that were excluded from our calculation of diluted net loss per share for the three and nine months ended September 30, 2017 and 2016, in thousands: Three and Nine Months Ended September 30, 2017 2016 Unvested restricted stock awards 1,091 2,322 Stock options 2,171 1,177 Warrants 34 68 Total 3,296 3,567 Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2014-09, Revenue from Contracts with Customers (Topic 606), that supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance provides that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. This new standard is effective on January 1, 2018 for us. Early adoption is permitted. We plan to implement this standard on January 1, 2018. We currently plan to adopt using the modified retrospective transition approach; however, a final decision regarding the adoption method has not been made. The modified retrospective transition approach will recognize any changes from the beginning of the year of initial application through retained earnings with no restatement of comparative periods. We currently do not have any revenue contracts with customers and will review any new contracts entered into prior to the adoption of the new standard. The adoption of this guidance is not expected to have an impact on our condensed financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize a right-to-use asset and a lease obligation for all leases. Lessees are permitted to make an accounting policy election to not recognize an asset and liability for leases with a term of 12 months or less. Lessor accounting under the new standard is substantially unchanged. Additional qualitative and quantitative disclosures, including significant judgments made by management, will be required.

Investments

Investments	9 Months Ended
	Sep. 30, 2017
Investments All Other Investments [Abstract]
Investments	3. Investments We invest in available-for-sale securities consisting of money market funds, U.S. Treasury securities, corporate debt securities, commercial paper and government sponsored enterprise securities. Available-for-sale securities are classified as part of either cash and cash equivalents or short-term investments on our condensed balance sheets. The following tables summarize, by major security type, our investments that are measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016, respectively, in thousands: As of September 30, 2017 Maturity (years) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash equivalents: Money market funds 1 or less $ 12,421 $ — $ — $ 12,421 Commercial paper 1 or less 10,483 — — 10,483 Total cash equivalents 22,904 — — 22,904 Short-term investments: U.S. Treasury securities 1 or less 20,909 — (6 ) 20,903 Commercial paper 1 or less 48,646 — — 48,646 Corporate debt securities 1 or less 7,928 — (8 ) 7,920 Total short-term investments 77,483 — (14 ) 77,469 Total $ 100,387 $ — $ (14 ) $ 100,373 As of December 31, 2016 Maturity (years) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash equivalents: Money market funds 1 or less $ 5,762 $ — $ — $ 5,762 Commercial paper 1 or less 2,000 — — 2,000 Total cash equivalents 7,762 — — 7,762 Short-term investments: U.S. Treasury securities 2 or less 28,006 5 (9 ) 28,002 Commercial paper 1 or less 14,273 — — 14,273 Corporate debt securities 2 or less 13,603 — (14 ) 13,589 Government sponsored enterprise securities 1 or less 2,201 — — 2,201 Total short-term investments 58,083 5 (23 ) 58,065 Total $ 65,845 $ 5 $ (23 ) $ 65,827 The available-for-sale investments are classified as current assets, even though the stated maturity date may be one year or more beyond the current balance sheet date, which reflects management’s intention to use the proceeds from sales of these securities to fund our operations, as necessary. As of September 30, 2017, all of our short-term investments had maturities less than one year. There were no realized gains or losses for the nine months ended September 30, 2017. As of September 30, 2017, $26.8 million of our marketable securities were in gross unrealized loss positions, all of which had been in such position for less than 12 months. We reviewed our marketable securities as of September 30, 2017 and determined that the unrealized losses were not considered to be other-than-temporary based upon (i) the financial strength of the issuing institution and (ii) the fact that all securities have been in an unrealized loss position for less than 12 months. In addition, we do not intend to sell these securities and it is not more likely than not that we will be required to sell these securities before the recovery of their amortized cost basis. As of September 30, 2017, we had not recognized any such impairment in our condensed financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements As a basis for considering assumptions that market participants would use in pricing an asset or liability, the guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: • Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and • Level 3 - Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Available-for-sale marketable securities consist of U.S. Treasury securities, which were measured at fair value using Level 1 inputs, and corporate debt securities, commercial paper and government sponsored enterprise securities, which were measured at fair value using Level 2 inputs. We determine the fair value of Level 2 related securities with the aid of valuations provided by third parties using proprietary valuation models and analytical tools. These valuation models and analytical tools use market pricing or prices for similar instruments that are both objective and publicly available, including matrix pricing or reported trades, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids and/or offers. We validate the fair values of Level 2 financial instruments by comparing these fair values to a third-party pricing source. No transfers between levels have occurred during the periods presented. The following tables summarize, by major security type, our cash equivalents and short-term investments that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy, in thousands: As of September 30, 2017 Total Estimated Fair Value Level 1 Level 2 Cash equivalents: Money market funds $ 12,421 $ 12,421 $ — Commercial paper 10,483 — 10,483 Total cash equivalents 22,904 12,421 10,483 Short-term investments: U.S. Treasury securities 20,903 20,903 — Commercial paper 48,646 — 48,646 Corporate debt securities 7,920 — 7,920 Total short-term investments 77,469 20,903 56,566 Total $ 100,373 $ 33,324 $ 67,049 As of December 31, 2016 Total Estimated Fair Value Level 1 Level 2 Cash equivalents: Money market funds $ 5,762 $ 5,762 $ — Commercial paper 2,000 — 2,000 Total cash equivalents 7,762 5,762 2,000 Short-term investments: U.S. Treasury securities 28,002 28,002 — Commercial paper 14,273 — 14,273 Corporate debt securities 13,589 — 13,589 Government sponsored enterprise securities 2,201 — 2,201 Total short-term investments 58,065 28,002 30,063 Total $ 65,827 $ 33,764 $ 32,063 We believe that our term loan facility bears interest at a rate that approximates prevailing market rates for instruments with similar characteristics and, accordingly, the carrying value of the term loan facility approximates fair value. The fair value of our term loan facility is determined using Level 2 inputs in the fair value hierarchy. See Note 6, Long-Term Debt, for further discussion of our term loan facility.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2017
Payables And Accruals [Abstract]
Accounts Payable and Accrued Liabilities	5. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities consisted of the following, in thousands: September 30, 2017 December 31, 2016 Accounts payable $ 661 $ 638 Accrued compensation and benefits 1,653 1,907 Other accrued expenses 3,882 2,136 Total accounts payable and accrued expenses $ 6,196 $ 4,681

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	6. Long-Term Debt On April 27, 2016, we entered into a loan and security agreement with Oxford Finance LLC and Silicon Valley Bank, or the Lenders, pursuant to which the Lenders provided a loan facility of up to $20.0 million. Upon entering into the loan and security agreement, we borrowed $7.5 million from the Lenders, or Term A Loan. We could, at our sole discretion, borrow up to an additional $12.5 million at a certain specified time, or Term B Loan, and together with the Term A Loan, the Term Loans. In May 2017, the loan and security agreement was amended to extend the draw period on the Term B Loan to October 31, 2017 and modify the terms of the unused fee. The loan and security agreement, as amended, shall be referred to as the Loan Agreement. On October 31, 2017, the draw period for the Term B Loan expired without us drawing down the Term B Loan. Therefore, we were required to pay an unused fee on November 1, 2017 in an amount equal to approximately $0.3 million. The fee was recorded as a debt discount in the three and nine months ended September 30, 2017 and is being amortized to interest expense using the effective interest method through the scheduled maturity date. All of the Term Loans will mature on November 1, 2020 , or Maturity Date. Repayment of the We are subject to customary affirmative and restrictive covenants under the term loan facility. Our obligations under the Loan Agreement are secured by a first priority security interest in substantially all of our current and future assets, other than our intellectual property. We have also agreed not to encumber our intellectual property assets, except as permitted by the Loan Agreement. The Loan Agreement also contains customary indemnification obligations and customary events of default, including, among other things, our failure to fulfill certain obligations under the Loan Agreement and the occurrence of a material adverse change in our business, operations, or condition (financial or otherwise), a material impairment of the prospect of repayment of any portion of the loan, or a material impairment in the perfection or priority of Lenders’ lien in the collateral or in the value of such collateral. In the event of default by us under the Loan Agreement, the Lenders would be entitled to exercise their remedies thereunder, including the right to accelerate the debt, upon which we may be required to repay all amounts then outstanding under the Loan Agreement. The conditional exercisable call option related to the event of default is considered to be an embedded derivative which is required to be bifurcated and accounted for as a separate financial instrument. In the periods presented, the value of the embedded derivative is not material, but could become material in future periods if an event of default became more probable than is currently estimated. As of September 30, 2017, we were in compliance with all financial covenants under the Loan Agreement and there had been no material adverse change or other events of default that had not subsequently been remediated or waived by the Lenders. In connection with the Term A Loan, we issued to the Lenders warrants to purchase up to 67,976 shares of our common stock at an exercise price of $3.31 per share, or the Warrants. The Warrants are exercisable, in whole or in part, and will terminate on the earlier of April 27, 2026 or the closing of certain merger or consolidation transactions In February 2017, Silicon Valley Bank exercised its warrant to purchase 33,988 shares of common stock in a cashless exercise resulting in the issuance of 17,070 shares of our common stock. The warrant issued to Oxford Finance LLC to purchase up to 33,988 shares of our common stock remains outstanding as of September 30, 2017. The following table summarizes future minimum payments under the term loan facility as of September 30, 2017, in thousands: Year Ending December 31, 2017 $ 161 2018 2,359 2019 3,377 2020 3,431 Total future minimum payments 9,328 Less: interest payments (1,828 ) Principal amount of long-term debt 7,500 Less: Unamortized discount (458 ) Long-term debt, net of unamortized discount 7,042 Current portion of long-term debt (1,024 ) Long-term debt, net $ 6,018

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders’ Equity	7. Stockholders’ Equity In August 2017, we completed a public offering in which we sold an aggregate of 8,805,000 shares of common stock at a price of $6.50 per share. Net proceeds from the public offering, after deducting underwriting discounts, commissions and offering expenses, were approximately $53.5 million.

Equity Incentive Plan

Equity Incentive Plan	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Incentive Plan	8. Equity Incentive Plan The following table summarizes share-based compensation expense for all equity awards granted, in thousands: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Research and development $ 770 $ 372 $ 2,036 $ 919 General and administrative 405 212 1,063 584 Total share-based compensation expense $ 1,175 $ 584 $ 3,099 $ 1,503 For the three months ended September 30, 2017 and 2016, we recognized share-based compensation expense related to stock options of approximately $0.6 million and $0.3 million, respectively, of which approximately $0.1 million related to non-employee stock options, respectively. For the nine months ended September 30, 2017 and 2016, we recognized share-based compensation expense related to stock options of approximately $1.7 million and $0.8 million, respectively, of which approximately $0.1 million related to non-employee stock options, respectively. For the three months ended September 30, 2017 and 2016, we recognized share-based compensation expense related to restricted stock awards totaling approximately $0.5 million and $0.3 million, respectively, of which approximately $0.5 million and $0.3 million related to non-employee restricted stock awards, respectively. For the nine months ended September 30, 2017 and 2016, we recognized share-based compensation expense related to restricted stock awards totaling approximately $1.4 million and $0.7 million, respectively, of which approximately $1.3 million and $0.6 million related to non-employee restricted stock awards, respectively. As of September 30, 2017, unrecognized compensation costs related to employee stock options and restricted stock awards were approximately $5.7 million and $0.1 million, respectively, which are expected to be recognized over a weighted average period of approximately 2.7 years and 1.0 years, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Our president and chief executive officer is also the sole managing member of Araxes Pharma LLC, or • Asset Purchase Agreement Under our asset purchase agreement with Araxes, in the nine months ended September 30, 2017, we paid a milestone payment of $0.2 million to Araxes following dosing of the first patient in the first KO-947 Phase 1 clinical trial in April 2017. • Facility Sublease We sublease office space from Wellspring Biosciences, Inc., or Wellspring, a wholly owned subsidiary of Araxes. In December 2016, we entered into a third amendment to the sublease agreement with Wellspring for office space in La Jolla, California, or Sublease, pursuant to which the Sublease expired in June 2017. In December 2016, we also entered into a new sublease agreement with Wellspring for office space in San Diego, California, or New Sublease. The New Sublease commenced in June 2017 and will expire on October 31, 2019. • Management Fees We have a management services agreement with Araxes pursuant to which Araxes pays us a fixed fee of $65,000 per month for management services. In addition, the agreement allows for Araxes to reimburse us an amount equal to the number of full time equivalents, or FTE, performing research and development services for Araxes, at an annual FTE rate of approximately $350,000, plus actual expenses as reasonably incurred. The initial term expired on December 31, 2015 but, pursuant to the terms of the agreement, renews automatically for additional consecutive one-year periods. The agreement may be terminated by either party with a notice of at least 30 days prior to the expiration of the then-renewal term. For the three months ended September 30, 2017 and 2016, we recorded reimbursements of approximately $0.1 million, respectively, and for the nine months ended September 30, 2017 and 2016, we recorded reimbursements of $0.3 million, respectively, for research and development services provided to Araxes, which was recorded as a reduction to research and development expenses on our condensed statements of operations and comprehensive loss. As of September 30, 2017 and December 31, 2016, approximately $0.2 million and $0.3 million related to management fees and reimbursements of research and development services, respectively, are included in accounts receivable, related party, on our condensed balance sheets. • Services Agreement We have a services agreement with Wellspring pursuant to which we pay Wellspring for research and development services provided to us in an amount equal to the number of FTE’s performing the services, at an annual FTE rate of $400,000, plus actual expenses as reasonably incurred. The initial term of this services agreement expired on December 31, 2015 but, pursuant to the terms of the agreement, renews automatically for additional consecutive one-year periods. The agreement may be terminated by either party with a notice of at least 30 days prior to the expiration of the then-renewal term. For the three months ended September 30, 2017 and 2016, we recognized approximately $0.3 million and $1.0 million, respectively, and for the nine months ended September 30, 2017 and 2016, we recognized approximately $1.0 million and $3.2 million, respectively, from research and development services provided to us under this agreement as research and development expense, related party, on our condensed statements of operations and comprehensive loss. As of September 30, 2017 and December 31, 2016, approximately $0.3 million and $0.7 million, respectively, related to research and development services under this agreement are included in accounts payable and accrued expenses, related party, on our condensed balance sheets.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as the change in equity during the period from transactions and other events and non-owner sources. For the periods presented, accumulated other comprehensive loss consists solely of unrealized gains and losses on marketable securities.
Net Loss per Share	Net Loss per Share Net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of unvested restricted stock awards, outstanding stock options and outstanding warrants. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the antidilutive effect of the securities. Because of our net loss, unvested restricted stock awards, outstanding stock options and outstanding warrants are excluded from the calculation of diluted net loss per common share for the three and nine months ended September 30, 2017 and 2016, due to the anti-dilutive effect of the securities. The following table summarizes the number of potentially dilutive securities that were excluded from our calculation of diluted net loss per share for the three and nine months ended September 30, 2017 and 2016, in thousands: Three and Nine Months Ended September 30, 2017 2016 Unvested restricted stock awards 1,091 2,322 Stock options 2,171 1,177 Warrants 34 68 Total 3,296 3,567
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2014-09, Revenue from Contracts with Customers (Topic 606), that supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance provides that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. This new standard is effective on January 1, 2018 for us. Early adoption is permitted. We plan to implement this standard on January 1, 2018. We currently plan to adopt using the modified retrospective transition approach; however, a final decision regarding the adoption method has not been made. The modified retrospective transition approach will recognize any changes from the beginning of the year of initial application through retained earnings with no restatement of comparative periods. We currently do not have any revenue contracts with customers and will review any new contracts entered into prior to the adoption of the new standard. The adoption of this guidance is not expected to have an impact on our condensed financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize a right-to-use asset and a lease obligation for all leases. Lessees are permitted to make an accounting policy election to not recognize an asset and liability for leases with a term of 12 months or less. Lessor accounting under the new standard is substantially unchanged. Additional qualitative and quantitative disclosures, including significant judgments made by management, will be required.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Number of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share	The following table summarizes the number of potentially dilutive securities that were excluded from our calculation of diluted net loss per share for the three and nine months ended September 30, 2017 and 2016, in thousands: Three and Nine Months Ended September 30, 2017 2016 Unvested restricted stock awards 1,091 2,322 Stock options 2,171 1,177 Warrants 34 68 Total 3,296 3,567

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2017
Investments All Other Investments [Abstract]
Investments Measured at Fair Value on Recurring Basis	The following tables summarize, by major security type, our investments that are measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016, respectively, in thousands: As of September 30, 2017 Maturity (years) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash equivalents: Money market funds 1 or less $ 12,421 $ — $ — $ 12,421 Commercial paper 1 or less 10,483 — — 10,483 Total cash equivalents 22,904 — — 22,904 Short-term investments: U.S. Treasury securities 1 or less 20,909 — (6 ) 20,903 Commercial paper 1 or less 48,646 — — 48,646 Corporate debt securities 1 or less 7,928 — (8 ) 7,920 Total short-term investments 77,483 — (14 ) 77,469 Total $ 100,387 $ — $ (14 ) $ 100,373 As of December 31, 2016 Maturity (years) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash equivalents: Money market funds 1 or less $ 5,762 $ — $ — $ 5,762 Commercial paper 1 or less 2,000 — — 2,000 Total cash equivalents 7,762 — — 7,762 Short-term investments: U.S. Treasury securities 2 or less 28,006 5 (9 ) 28,002 Commercial paper 1 or less 14,273 — — 14,273 Corporate debt securities 2 or less 13,603 — (14 ) 13,589 Government sponsored enterprise securities 1 or less 2,201 — — 2,201 Total short-term investments 58,083 5 (23 ) 58,065 Total $ 65,845 $ 5 $ (23 ) $ 65,827

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Measurements, By Major Security Type	The following tables summarize, by major security type, our cash equivalents and short-term investments that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy, in thousands: As of September 30, 2017 Total Estimated Fair Value Level 1 Level 2 Cash equivalents: Money market funds $ 12,421 $ 12,421 $ — Commercial paper 10,483 — 10,483 Total cash equivalents 22,904 12,421 10,483 Short-term investments: U.S. Treasury securities 20,903 20,903 — Commercial paper 48,646 — 48,646 Corporate debt securities 7,920 — 7,920 Total short-term investments 77,469 20,903 56,566 Total $ 100,373 $ 33,324 $ 67,049 As of December 31, 2016 Total Estimated Fair Value Level 1 Level 2 Cash equivalents: Money market funds $ 5,762 $ 5,762 $ — Commercial paper 2,000 — 2,000 Total cash equivalents 7,762 5,762 2,000 Short-term investments: U.S. Treasury securities 28,002 28,002 — Commercial paper 14,273 — 14,273 Corporate debt securities 13,589 — 13,589 Government sponsored enterprise securities 2,201 — 2,201 Total short-term investments 58,065 28,002 30,063 Total $ 65,827 $ 33,764 $ 32,063

Accounts Payable and Accrued 19

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Payables And Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities consisted of the following, in thousands: September 30, 2017 December 31, 2016 Accounts payable $ 661 $ 638 Accrued compensation and benefits 1,653 1,907 Other accrued expenses 3,882 2,136 Total accounts payable and accrued expenses $ 6,196 $ 4,681

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Future Minimum Payments under Term Loan Facility	The following table summarizes future minimum payments under the term loan facility as of September 30, 2017, in thousands: Year Ending December 31, 2017 $ 161 2018 2,359 2019 3,377 2020 3,431 Total future minimum payments 9,328 Less: interest payments (1,828 ) Principal amount of long-term debt 7,500 Less: Unamortized discount (458 ) Long-term debt, net of unamortized discount 7,042 Current portion of long-term debt (1,024 ) Long-term debt, net $ 6,018

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Share-based Compensation Expense	The following table summarizes share-based compensation expense for all equity awards granted, in thousands: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Research and development $ 770 $ 372 $ 2,036 $ 919 General and administrative 405 212 1,063 584 Total share-based compensation expense $ 1,175 $ 584 $ 3,099 $ 1,503

Summary of Significant Accoun22

Summary of Significant Accounting Policies - Summary of Number of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities	3,296	3,567	3,296	3,567
Unvested Restricted Stock Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities	1,091	2,322	1,091	2,322
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities	2,171	1,177	2,171	1,177
Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities	34	68	34	68

Investments - Investments Measu

Investments - Investments Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Schedule Of Available For Sale Securities [Line Items]
Short-term investments	$ 77,469	$ 58,065	[1]
Fair Value Measurements on Recurring Basis
Schedule Of Available For Sale Securities [Line Items]
Cash equivalents, Amortized Cost	22,904	7,762
Cash equivalents, Fair Value	22,904	7,762
Short-term investments, Amortized Cost	77,483	58,083
Short-term investments, Unrealized Gains		5
Short-term investments, Unrealized Losses	(14)	(23)
Short-term investments	77,469	58,065
Cash equivalents and Short-term investments, Amortized Cost	100,387	65,845
Cash equivalents and Short-term investments, Fair Value	$ 100,373	$ 65,827
Fair Value Measurements on Recurring Basis | Money Market Funds
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	1 or less	1 or less
Cash equivalents, Amortized Cost	$ 12,421	$ 5,762
Cash equivalents, Fair Value	$ 12,421	$ 5,762
Fair Value Measurements on Recurring Basis | Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	1 or less	1 or less
Cash equivalents, Amortized Cost	$ 10,483	$ 2,000
Cash equivalents, Fair Value	10,483	2,000
Short-term investments, Amortized Cost	48,646	14,273
Short-term investments	$ 48,646	$ 14,273
Fair Value Measurements on Recurring Basis | U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	1 or less	2 or less
Short-term investments, Amortized Cost	$ 20,909	$ 28,006
Short-term investments, Unrealized Gains		5
Short-term investments, Unrealized Losses	(6)	(9)
Short-term investments	$ 20,903	$ 28,002
Fair Value Measurements on Recurring Basis | Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)	1 or less	2 or less
Short-term investments, Amortized Cost	$ 7,928	$ 13,603
Short-term investments, Unrealized Losses	(8)	(14)
Short-term investments	$ 7,920	$ 13,589
Fair Value Measurements on Recurring Basis | Government Sponsored Enterprise Securities
Schedule Of Available For Sale Securities [Line Items]
Maturities (years)		1 or less
Short-term investments, Amortized Cost		$ 2,201
Short-term investments		$ 2,201
[1]	The balance sheet data at December 31, 2016 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Investments - Additional Inform

Investments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017USD ($)
Investments All Other Investments [Abstract]
Available-for-sale securities, realized gains or losses	$ 0
Marketable securities gross unrealized loss positions for less than twelve months	$ 26,800,000
Short-term investments maturities, description	As of September 30, 2017, all of our short-term investments had maturities less than one year.

Fair Value Measurements - Fair

Fair Value Measurements - Fair Values of Investment Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	$ 77,469	$ 58,065	[1]
Fair Value Measurements on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	22,904	7,762
Short-term investments	77,469	58,065
Cash equivalents and short-term investments	100,373	65,827
Fair Value Measurements on Recurring Basis | Government Sponsored Enterprise Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments		2,201
Fair Value Measurements on Recurring Basis | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	12,421	5,762
Fair Value Measurements on Recurring Basis | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	10,483	2,000
Short-term investments	48,646	14,273
Fair Value Measurements on Recurring Basis | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	20,903	28,002
Fair Value Measurements on Recurring Basis | Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	7,920	13,589
Fair Value Measurements on Recurring Basis | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	12,421	5,762
Short-term investments	20,903	28,002
Cash equivalents and short-term investments	33,324	33,764
Fair Value Measurements on Recurring Basis | Level 1 | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	12,421	5,762
Fair Value Measurements on Recurring Basis | Level 1 | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	20,903	28,002
Fair Value Measurements on Recurring Basis | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	10,483	2,000
Short-term investments	56,566	30,063
Cash equivalents and short-term investments	67,049	32,063
Fair Value Measurements on Recurring Basis | Level 2 | Government Sponsored Enterprise Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments		2,201
Fair Value Measurements on Recurring Basis | Level 2 | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	10,483	2,000
Short-term investments	48,646	14,273
Fair Value Measurements on Recurring Basis | Level 2 | Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	$ 7,920	$ 13,589
[1]	The balance sheet data at December 31, 2016 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Accounts Payable and Accrued 26

Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Accounts payable	$ 661	$ 638
Accrued compensation and benefits	1,653	1,907
Other accrued expenses	3,882	2,136
Total accounts payable and accrued expenses	$ 6,196	$ 4,681	[1]
[1]	The balance sheet data at December 31, 2016 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	Apr. 27, 2016	Aug. 31, 2017	Feb. 28, 2017	Sep. 30, 2017
Debt Instrument [Line Items]
Maximum borrowing capacity under term loans	$ 20,000,000
Principal amount outstanding on loan				$ 7,500,000
Term loan remaining borrowing capacity	$ 12,500,000
Additional borrowing description				We could, at our sole discretion, borrow up to an additional $12.5 million at a certain specified time, or Term B Loan, and together with the Term A Loan, the Term Loans. In May 2017, the loan and security agreement was amended to extend the draw period on the Term B Loan to October 31, 2017 and modify the terms of the unused fee.
Debt instrument amount drawn expiration period	Oct. 31, 2017
Common stock, shares issued		8,805,000
Silicon Valley Bank
Debt Instrument [Line Items]
Warrants issued to purchase of common stock			33,988
Common stock, shares issued			17,070
Maximum | Oxford Finance LLC
Debt Instrument [Line Items]
Warrants issued to purchase of common stock				33,988
Term A Loan
Debt Instrument [Line Items]
Principal amount outstanding on loan	$ 7,500,000
Commitment fee on unused capacity				$ 300,000
Final payment due on the maturity date	600,000
Fair Value Of Warrants	$ 200,000
Term A Loan | Term Loan Warrants
Debt Instrument [Line Items]
Warrants exercisable exercise price	$ 3.31
Warrants termination date				Apr. 27, 2026
Volatility Rate	70.92%
Expected Term	10 years
Risk Free Interest Rate	2.11%
Dividend yield	0.00%
Term A Loan | Maximum | Term Loan Warrants
Debt Instrument [Line Items]
Warrants issued to purchase of common stock	67,976
Term Loans
Debt Instrument [Line Items]
Unused fee description				unused fee on November 1, 2017 in an amount equal to approximately $0.3 million. The unused fee was recorded as a debt discount in the three and nine months ended September 30, 2017 and is being amortized to interest expense using the effective interest method through the scheduled maturity date.
Term loan facility maturity date	Nov. 1, 2020
Description of term loan payment terms				All of the Term Loans will mature on November 1, 2020, or Maturity Date. Repayment of the Term Loans is interest only through May 1, 2018, followed by 30 equal monthly payments of principal plus accrued interest commencing on June 1, 2018
Percentage of prime rate included in effective interest rate	4.25%
Final payment as a percentage of amounts borrowed	7.50%
Team loan effective interest rate description				The per annum interest rate for any outstanding Term Loans is the greater of (i) 7.75% and (ii) the sum of (a) the prime rate reported in The Wall Street Journal on the last business day of the month that immediately precedes the month in which the interest will accrue, plus (b) 4.25%.
Minimum percentage of interest rate on outstanding borrowings				8.50%
Term Loans | Base Rate | Minimum
Debt Instrument [Line Items]
Minimum percentage of interest rate on outstanding borrowings	7.75%
Term Loans | Transaction Occurring Assumption One
Debt Instrument [Line Items]
Prepayment fee equal to outstanding principal amount	1.00%
Term Loans | Transaction Occurring Assumption Two
Debt Instrument [Line Items]
Prepayment fee equal to outstanding principal amount	2.00%

Long-Term Debt - Future Minimum

Long-Term Debt - Future Minimum Payments under Term Loan Facility (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	[1]
Debt Disclosure [Abstract]
2,017	$ 161
2,018	2,359
2,019	3,377
2,020	3,431
Total future minimum payments	9,328
Less: interest payments	(1,828)
Principal amount of long-term debt	7,500
Less: Unamortized discount	(458)
Long-term debt, net of unamortized discount	7,042
Current portion of long-term debt	(1,024)
Long-term debt, net	$ 6,018	$ 7,324
[1]	The balance sheet data at December 31, 2016 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	Aug. 31, 2017	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Common stock, shares issued	8,805,000
Common stock, issued price per share	$ 6.50
Proceeds from issuance of common stock, net	$ 53,500	$ 53,683

Equity Incentive Plan - Summary

Equity Incentive Plan - Summary of Share-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 1,175	$ 584	$ 3,099	$ 1,503
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	770	372	2,036	919
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 405	$ 212	$ 1,063	$ 584

Equity Incentive Plan - Additio

Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 1,175	$ 584	$ 3,099	$ 1,503
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	600	300	1,700	800
Non-employee share based compensation expense	100	100	100	100
Unrecognized stock option compensation expenses	5,700		$ 5,700
Weighted average service period			2 years 8 months 13 days
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	500	300	$ 1,400	700
Non-employee share based compensation expense	500	$ 300	1,300	$ 600
Unrecognized stock option compensation expenses	$ 100		$ 100
Weighted average service period			1 year

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Apr. 30, 2016	Oct. 01, 2014	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Accounts receivable, related party			$ 209,000		$ 209,000		$ 295,000	[1]
Research and development, related party			334,000	$ 1,011,000	1,121,000	$ 3,070,000
Accounts payable and accrued expenses, related party			342,000		$ 342,000		770,000	[1]
Araxes Pharma LLC
Related Party Transaction [Line Items]
Management Fee, Description					We have a management services agreement with Araxes pursuant to which Araxes pays us a fixed fee of $65,000 per month for management services.
Research and development services reimbursement, description					In addition, the agreement allows for Araxes to reimburse us an amount equal to the number of full time equivalents, or FTE, performing research and development services for Araxes, at an annual FTE rate of approximately $350,000, plus actual expenses as reasonably incurred. The initial term expired on December 31, 2015 but, pursuant to the terms of the agreement, renews automatically for additional consecutive one-year periods. The agreement may be terminated by either party with a notice of at least 30 days prior to the expiration of the then-renewal term.
Management service agreement, fixed	$ 65,000
Service Agreement for research and development	$ 350,000
Agreement expiration date		Dec. 31, 2015
Agreement termination notice period		30 days
Amount received on research and development services			100,000	100,000	$ 300,000	300,000
Accounts receivable, related party			200,000		200,000		300,000
Araxes Pharma LLC | Araxes Asset Purchase Agreement
Related Party Transaction [Line Items]
Milestone payment paid					200,000
Wellspring Biosciences Inc
Related Party Transaction [Line Items]
Rent expense related to office space sublease			100,000	100,000	$ 100,000	100,000
Sublease agreement description					In December 2016, we entered into a third amendment to the sublease agreement with Wellspring for office space in La Jolla, California, or Sublease, pursuant to which the Sublease expired in June 2017. In December 2016, we also entered into a new sublease agreement with Wellspring for office space in San Diego, California, or New Sublease.
Research and development expense payment, description					We have a services agreement with Wellspring pursuant to which we pay Wellspring for research and development services provided to us in an amount equal to the number of FTE’s performing the services, at an annual FTE rate of $400,000, plus actual expenses as reasonably incurred. The initial term of this services agreement expired on December 31, 2015 but, pursuant to the terms of the agreement, renews automatically for additional consecutive one-year periods. The agreement may be terminated by either party with a notice of at least 30 days prior to the expiration of the then-renewal term.
Agreement expiration date		Dec. 31, 2015
Agreement termination notice period		30 days
Research and development services expense at full time equivalents rate		$ 400,000
Research and development, related party			1,000,000	$ 300,000	$ 3,200,000	$ 1,000,000
Accounts payable and accrued expenses, related party			$ 300,000		$ 300,000		$ 700,000
Wellspring Biosciences Inc | La Jolla California
Related Party Transaction [Line Items]
Sublease expiration date					Jun. 30, 2017
Wellspring Biosciences Inc | San Diego California
Related Party Transaction [Line Items]
Sublease expiration date					Oct. 31, 2019
Sublease commencement date					Jun. 30, 2017
[1]	The balance sheet data at December 31, 2016 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.