Chinook Therapeutics (KDNY) 10-Q 11 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 06, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	ADRO
Entity Registrant Name	ADURO BIOTECH, INC.
Entity Central Index Key	1,435,049
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		62,275,894

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 465,867	$ 119,456
Accounts receivable	1,214	3,153
Prepaid expenses and other current assets	2,515	2,612
Total current assets	469,596	125,221
Property and equipment, net	2,122	1,053
Other assets	833	188
Total assets	472,551	126,462
Current liabilities:
Accounts payable	3,961	5,030
Accrued clinical trial and manufacturing expenses	4,181	3,350
Accrued expenses and other liabilities	5,967	2,408
Deferred revenue	17,754	33,427
Total current liabilities	31,863	44,215
Deferred consideration from Novartis collaboration (Note 5)	200,000
Deferred revenue		2,592
Convertible preferred stock warrant liability		100
Common stock warrant liability		889
Total liabilities	$ 231,863	$ 47,796
Commitments and contingencies (Note 6)
Convertible preferred stock; $0.0001 par value, 0 and 69,716,345 shares authorized at June 30, 2015 and December 31, 2014; 0 and 69,608,339 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively		$ 139,963
Stockholders’ equity (deficit):
Preferred stock, $0.0001 par value; 10,000,000 and 0 shares authorized at June 30, 2015 and December 31, 2014; 0 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively
Common stock, $0.0001 par value; 300,000,000 and 85,000,000 shares authorized at June 30, 2015 and December 31, 2014; 62,262,615 and 361,997 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively	$ 6
Additional paid-in capital	345,201	$ 346
Accumulated deficit	(104,519)	(61,643)
Total stockholders’ equity (deficit)	240,688	(61,297)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit)	$ 472,551	$ 126,462

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Convertible preferred stock
Par value per share	$ 0.0001	$ 0.0001
Shares authorized	0	69,716,345
Shares issued	0	69,608,339
Shares outstanding	0	69,608,339
Preferred stock par value per share	$ 0.0001	$ 0.0001
Preferred stock shares authorized	10,000,000	0
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value per share	$ 0.0001	$ 0.0001
Common stock shares authorized	300,000,000	85,000,000
Common stock shares issued	62,262,615	361,997
Common stock shares outstanding	62,262,615	361,997

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue:
Collaboration and license revenue	$ 9,623	$ 883	$ 18,861	$ 883
Grant revenue	260	102	596	127
Total revenue	9,883	985	19,457	1,010
Operating expenses:
Research and development	13,533	5,403	24,179	10,132
General and administrative	5,882	2,134	12,092	3,518
Total operating expenses	19,415	7,537	36,271	13,650
Loss from operations	(9,532)	(6,552)	(16,814)	(12,640)
(Loss) Gain from remeasurement of fair value of warrants	(16,735)	25	(26,077)	(125)
Gain on extinguishment of convertible promissory notes		3,553		3,553
Interest expense		(996)		(2,350)
Other income, net	7	344	15	152
Net loss	$ (26,260)	$ (3,626)	$ (42,876)	$ (11,410)
Net loss per common share, basic and diluted	$ (0.50)	$ (12.27)	$ (1.61)	$ (38.61)
Weighted average common shares outstanding, basic and diluted	52,653,344	295,498	26,678,848	295,498

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity Deficit (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total	IPO	Private Placement	Convertible Preferred Stock	Convertible Preferred StockSeries E Convertible Preferred Stock	Common Stock	Common StockIPO	Common StockPrivate Placement	Additional Paid-in Capital	Additional Paid-in CapitalIPO	Additional Paid-in CapitalPrivate Placement	Accumulated Deficit
Beginning balance at Dec. 31, 2014	$ (61,297)								$ 346			$ (61,643)
Beginning balance at Dec. 31, 2014	$ 139,963			$ 139,963
Beginning balance, Shares at Dec. 31, 2014	361,997					361,997
Beginning balance, Shares at Dec. 31, 2014	69,608,339			69,608,339
Issuance of stock		$ 124,193	$ 25,000		$ 24,992		$ 1			$ 124,192	$ 25,000
Issuance of stock , Shares					2,361,029		8,050,000	1,470,588
Issuance of convertible preferred stock upon exercise of preferred stock warrants				$ 9
Conversion of convertible preferred stock to common stock	$ 164,964			$ (164,964)		$ 5			164,959
Issuance of preferred stock upon exercise of preferred stock warrants , Shares				6,668
Conversion of convertible preferred stock to common stock, Shares				(71,976,036)		51,822,659
Reclassification of convertible preferred stock and common stock warrant liability to additional paid-in capital	27,066								27,066
Issuance of common stock upon exercise of stock options and grant of restricted stock	$ 299								299
Issuance of common stock upon exercise of stock options and grant of restricted stock, Shares	291,487					298,687
Issuance of common stock upon exercise of warrants	$ 116								116
Issuance of common stock upon exercise of warrants , Shares						258,684
Stock-based compensation expense	3,223								3,223
Net loss	(42,876)											(42,876)
Ending balance at Jun. 30, 2015	$ 240,688					$ 6			$ 345,201			$ (104,519)
Ending balance at Jun. 30, 2015				$ 0
Ending balance, Shares at Jun. 30, 2015	62,262,615					62,262,615
Ending balance, Shares at Jun. 30, 2015	0			0

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities
Net loss	$ (42,876)	$ (11,410)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	219	94
Stock-based compensation	3,345	204
Loss from remeasurement of fair value of warrants	26,077	125
Gain from changes in the fair value of preferred stock derivative liability		(147)
Gain on extinguishment of convertible promissory notes		(3,553)
Non-cash interest expense related to convertible promissory notes payable		2,350
Changes in operating assets and liabilities:
Accounts receivable	2,092	244
Prepaid expenses and other assets	(1,962)	(12)
Accounts payable	893	2,633
Deferred consideration from Novartis collaboration	200,000
Deferred revenue	(18,264)	12,116
Accrued clinical trial and manufacturing expenses	831	677
Accrued expenses and other liabilities	3,370	640
Net cash provided by operating activities	173,725	3,961
Cash Flows from Investing Activities
Purchase of property and equipment	(1,165)	(267)
Net cash used in investing activities	(1,165)	(267)
Cash Flows from Financing Activities
Proceeds from issuance of common stock, net of offering costs	151,027
Proceeds from issuance of convertible preferred stock, net of issuance costs	22,522	26,905
Proceeds from issuance of convertible promissory note payable to related parties		308
Proceeds from exercise of stock options and warrants	302
Net cash provided by financing activities	173,851	27,213
Net increase in cash and cash equivalents	346,411	30,907
Cash and cash equivalents at beginning of period	119,456	8,532
Cash and cash equivalents at end of period	465,867	39,439
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Conversion of convertible preferred stock to common stock	164,964
Reclassification of warrant liabilities to additional paid-in capital	27,066
Accrued offering costs	742
Purchase of property and equipment in accounts payable	$ 123	107
Reclassification of liability classified warrants to additional paid-in capital		784
Series C Convertible Preferred Stock
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Issuance of convertible preferred stock in connection with conversion of convertible promissory notes		13,452
Series B Convertible Preferred Stock
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Issuance of convertible preferred stock in connection with conversion of convertible promissory notes		$ 2,088

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business	1. Nature of Business Aduro Biotech, Inc., or the Company, is a clinical-stage immuno-oncology company located in Berkeley, California. The Company was founded in 2000 under the name Oncologic, Inc., later merged with Triton BioSystems, Inc. in 2008, and subsequently changed its name to Aduro Biotech, Inc. in 2009. The Company is focused on the development of technology platforms designed to stimulate robust and durable immune responses against cancer. The Company operates in one business segment. The Company’s more advanced technology platform is its proprietary Live, Attenuated, Double-Deleted, or LADD, method of engineering Listeria monocytogenes

Basis of Presentation Use of Es

Basis of Presentation Use of Estimates and Recent Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation, Use of Estimates, and Recent Accounting Policies	2. Basis of Presentation, Use of Estimates, and Recent Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, and following the requirements of the Securities and Exchange Commission, or the SEC, for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of December 31, 2014 has been derived from audited consolidated financial statements at that date but does not include all of the information required by U.S. GAAP for complete financial statements. These financial statements have been prepared on the same basis as our annual financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for a fair presentation of our financial information. The results of operations for the period ended June 30, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015 or for any other interim period or for any other future year. The accompanying condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2014 included in our Registration Statement on Form S-1 filed with the SEC. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and reported amounts of revenue and expenses in the financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, clinical trial accruals, convertible preferred stock and related warrants, common stock and related warrants, income taxes and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Initial Public Offering On April 20, 2015, the Company closed its initial public offering, or IPO and sold 8,050,000 shares of its common stock (inclusive of 1,050,000 shares of common stock pursuant to the full exercise of the underwriters’ option to purchase additional shares) at a price to the public of $17.00 per share. The Company received aggregate net proceeds of $124.2 million, net of underwriting discounts and offering expenses. The Company also sold to Novartis Institutes for BioMedical Research, Inc., or NIBR, in a concurrent private placement 1,470,588 shares of common stock at a price of $17.00 per share for proceeds of $25.0 million (See Note 7). Upon the closing of the IPO, all then-outstanding shares of convertible preferred stock converted by their terms into 51,822,659 shares of common stock. Additionally, the Company amended and restated its certificate of incorporation effective April 14, 2015 to, among other things, change the authorized number of shares of common stock to 300,000,000 shares and the authorized number of shares of preferred stock to 10,000,000 shares. Reverse Stock Split On April 1, 2015, the Company effected a 0.72-for-1 reverse split of its common stock. Upon the effectiveness of the reverse stock split, (i) every 1 share of outstanding common stock was combined into 0.72 of a share of common stock, (ii) the number of shares of common stock for which each outstanding option or warrant to purchase common stock is exercisable was proportionally decreased on a 0.72-for-1 basis, (iii) the exercise price of each outstanding option or warrant to purchase common stock was proportionately increased on a 0.72-for-1 basis, and (iv) the conversion ratio for each share of preferred stock which was convertible into the Company’s common stock was proportionately reduced on a 0.72-for-1 basis. All of the outstanding common stock share numbers, warrants to purchase common stock, common stock share prices, common stock exercise prices and per share amounts have been adjusted, on a retroactive basis, to reflect this 0.72-for-1 reverse stock split for all periods presented. The par value per share, authorized number of shares of common stock, preferred stock and preferred stock warrants were not adjusted as a result of the reverse stock split. Offering Costs Offering costs represent underwriting, legal, accounting and other direct costs related to the Company’s IPO. These costs were deferred until completion of the IPO, at which time they were reclassified to additional paid-in capital as a reduction of the proceeds. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Auditing Standards Update, or ASU, No. 2014-09, Revenue from Contracts with Customers

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The carrying amounts of certain of the Company’s financial instruments, including cash equivalents, accounts receivable, and accounts payable are approximated at their fair values due to their short maturities. Assets and liabilities recorded at fair value on a recurring basis in the balance sheets, as well as assets and liabilities measured at fair value on a non-recurring basis or disclosed at fair value, are categorized based upon the level of judgment associated with inputs used to measure their fair values. The accounting guidance for fair value provides a framework for measuring fair value, and requires certain disclosures about how fair value is determined. Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance also establishes a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based upon whether such inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the reporting entity. The three-level hierarchy for the inputs to valuation techniques is briefly summarized as follows: Level 1 —Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 —Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level 3 —Unobservable inputs that are significant to the measurement of the fair value of the assets or liabilities that are supported by little or no market data. The Company’s financial instruments consist of Level 1 assets and Level 3 liabilities. Where quoted prices are available in an active market, securities are classified as Level 1. Level 1 assets consist of highly liquid money market funds that are included in cash equivalents. In certain cases where there is limited activity or less transparency around the inputs to valuation, securities are classified as Level 3. Level 3 liabilities consist of common and preferred stock warrant liabilities. The determination of the fair value of the warrants is discussed in Note 8. Increases or decreases in the fair value of the underlying convertible preferred stock or common stock warrants are accounted for as (loss) gain from remeasurement of fair value of warrants in the accompanying condensed consolidated statements of operations. The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): June 30, 2015 Level 1 Level 2 Level 3 Total Financial Assets: Money market funds $ 463,515 $ — $ — $ 463,515 December 31, 2014 Level 1 Level 2 Level 3 Total Financial Assets: Money market funds $ 110,001 $ — $ — $ 110,001 Financial Liabilities: Convertible preferred stock warrant liability $ — $ — $ 100 $ 100 Common stock warrant liability — — 889 889 Total $ — $ — $ 989 $ 989 The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities (in thousands): Convertible Preferred Stock Warrant Liability Common Stock Warrant Liability Balance at December 31, 2014 $ 100 $ 889 Net increase in fair value upon remeasurement 1,108 24,969 Reclassification to additional paid-in capital (1,208 ) (25,858 ) Balance at June 30, 2015 $ - $ -

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2015
Balance Sheet Components [Abstract]
Balance Sheet Components	4. Balance Sheet Components Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): June 30, December 31, 2015 2014 Lab equipment $ 2,051 $ 1,165 Computer and office equipment 601 520 Furniture and fixtures 170 87 Leasehold improvements 542 304 Total property and equipment 3,364 2,076 Less: accumulated depreciation and amortization (1,242 ) (1,023 ) Property and equipment, net $ 2,122 $ 1,053 Depreciation and amortization expense was $126,000 and $51,000 for the three months ended June 30, 2015 and 2014, respectively and was $219,000 and $94,000, for the six months ended June 30, 2015 and 2014, respectively. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands): June 30, December 31, 2015 2014 Licensing fees $ 3,349 $ 160 Compensation and related benefits 1,402 1,276 Professional and consulting services 1,021 961 Other 195 11 Total accrued expenses and other liabilities $ 5,967 $ 2,408

Collaboration Agreements

Collaboration Agreements	6 Months Ended
	Jun. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Collaboration Agreements	5. Collaboration Agreements Novartis Agreement In March 2015, the Company entered into a collaboration and license agreement with Novartis Pharmaceuticals Corporation, or Novartis, pursuant to which the Company is collaborating worldwide with Novartis regarding the development and potential commercialization of product candidates containing an agonist of the molecular target known as STING in the field of oncology, including immuno-oncology and cancer vaccines. Under this agreement, or the Novartis Agreement, the Company granted Novartis a co-exclusive license to develop such products worldwide, an exclusive license to commercialize such products outside the United States and a non-exclusive license to support the Company in commercializing such products in the United States if it requests such support. The collaboration is guided by a joint steering committee with each party having final decision making authority regarding specified areas of development or commercialization. Under the Novartis Agreement, the Company received an upfront payment of $200 million in April 2015. The Company is also eligible to receive up to an additional $250 million in development milestones and up to an additional $250 million in regulatory approval milestones. The Company is responsible for 38% of the joint development costs worldwide and Novartis is responsible for the remaining 62% of the joint development costs worldwide. The Company will also receive 50% of all profits for any products commercialized pursuant to this collaboration in the United States and 45% of all profits for specified European countries and Japan. For each of these profit share countries, each party will be responsible for its respective commercial sharing percentage of all joint commercialization costs incurred in that country. For all other countries where the Company is not sharing profits, Novartis will be responsible for all commercialization costs and will pay the Company a royalty in the mid-teens on all net sales of product sold by Novartis, its affiliates and sublicensees, with such percentage subject to reduction post patent and data exclusivity expiration and subject to reduction, capped at a specified percentage, for royalties payable to third party licensors. Novartis’ royalty obligation will run on a country-by-country basis until the later of expiration of the last valid claim covering the product, expiration of data exclusivity for the product or 12 years after first commercial sale of the product in such country. With respect to the United States, specified European countries and/or Japan, the Company may elect for such region to either reduce by 50% or to eliminate in full the Company’s development cost sharing obligation. If the Company elects to reduce its cost sharing percentage by 50% in any such region, then its profit share in such region will also be reduced by 50%. If the Company elects to eliminate its development cost sharing obligation, then such region will be removed from the profit share, and instead Novartis will owe the Company royalties on any net sales of product for such region, as described above. The Company recognizes revenue from collaboration, license or research arrangements when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collection is reasonably assured. As of June 30, 2015, the Company and Novartis had not yet completed activities to provide persuasive evidence of an arrangement, primarily the Joint Steering Committee’s approval of the research and development plan. As a result, the Company did not recognize any revenue pursuant to the Novartis collaboration for the quarter ended June 30, 2015. The Company recorded the $200 million upfront payment as deferred consideration from Novartis collaboration in the condensed consolidated balance sheet. Janssen ADU-741 and GVAX Prostate Agreements In May 2014, the Company entered into a Research and License Agreement, or Janssen ADU-741 Agreement, and a GVAX Prostate License Agreement, or Janssen GVAX Prostate Agreement, with Janssen Biotech, Inc., or Janssen, a wholly-owned subsidiary of Johnson & Johnson Development Corporation, to collaborate on the development of a drug for the treatment of prostate cancer. Under the terms of the Janssen ADU-741 Agreement, the Company granted Janssen an exclusive, worldwide license to research, develop, manufacture, use, sell and otherwise exploit products containing ADU-741 for any and all uses. The Company is responsible for certain research and development activities from the effective date of the agreement until approval of an investigational new drug application, or IND. Since the inception of the Janssen ADU-741 Agreement, the Company received an upfront payment of $12.0 million and non-substantive and substantive milestone payments of $6.5 million upon completion of certain development activities. Under the terms of the Janssen ADU-741 Agreement, the Company may receive future nonrefundable milestone payments up to a total of $1.0 million after completion of various stages of the research and development activities, and the Company is eligible to receive future contingent payments up to a total of $345.5 million comprised of development milestones through completion of all Phase 3 clinical trials, as well as launch, commercialization and sales milestones. The contingent payments are triggered upon the activities expected to be undertaken by Janssen. The Company is eligible to receive royalties on net sales of licensed products by Janssen, its affiliates and sublicensees at a rate ranging from mid-single digits to low teens based on aggregate annual net sales and based on the country of sale. Under the Janssen GVAX Prostate Agreement, the Company granted Janssen an exclusive worldwide license to research, develop, manufacture, use, sell and otherwise exploit products containing GVAX Prostate for any and all uses. The Company received an upfront payment of $500,000 in May 2014 and may receive an additional $2.0 million on the achievement of a specified commercial milestone. In addition, the Company is eligible to receive royalties in the high single digits based on net sales of the product. The development activities being conducted by the Company are based on a combination of the technology licensed under both agreements. Accordingly, the Company has accounted for the Janssen ADU-741 Agreement and Janssen GVAX Prostate Agreement as one arrangement and has identified the deliverables within the arrangement as a license to the technology and research and development activities through IND regulatory approval. The Company has determined that the licenses and development services under the license and research agreements represent a single unit of accounting. The licenses do not have stand-alone value to Janssen, separable from the development services to be performed under the agreement, as Janssen is unable to use the licenses for their intended purpose without the Company’s performance of the research and development services. As a result, the Company recognizes revenue from the upfront payments ratably over the term of its estimated period of performance under the agreement. Changes in the estimated period of performance will be accounted for prospectively as a change in estimate. The upfront fees received totaling $12.5 million are being recognized on a straight-line basis from the effective date of the agreements to September 2015, the Company’s estimated performance period. The Company will recognize non-substantive milestone payments on a straight-line basis through September 2015, the Company’s estimated performance period. Janssen ADU-214 Agreement In November 2014, the Company entered into a Research and License Agreement with Janssen, or Janssen ADU-214 Agreement, to develop a drug for the treatment of lung cancer. Under the terms of the Janssen ADU-214 Agreement, the Company granted Janssen an exclusive, worldwide license to research, develop, manufacture, use, sell and otherwise exploit products containing ADU-214 for any and all uses. The Company is responsible for certain research and development activities from the effective date of the agreement until IND regulatory approval. In November 2014, the Company received an upfront license fee of $30.0 million, which is being recognized as revenue on a straight-line basis from the effective date of the Janssen ADU-214 Agreement to February 2016, the Company’s estimated performance period. Changes in the estimated period of performance will be accounted for prospectively as a change in estimate. Under the terms of the Janssen ADU-214 Agreement, the Company may receive future nonrefundable milestone payments up to a total of $11.0 million after completion of various stages of the research and development activities, and the Company is eligible to receive future contingent payments up to a total of $776.0 million comprised of development milestones through completion of all Phase 3 clinical trials, as well as regulatory and commercial milestones. The contingent payments are triggered upon the activities expected to be undertaken by Janssen. The Company is eligible to receive royalties on any net sales of licensed products by Janssen, its affiliates and sublicensees at a rate ranging from high-single digits to low teens based on the aggregate annual net sales of licensed products worldwide and based on the country of sale. For the three months and six months ended June 30, 2015, the Company recognized revenue from its Janssen ADU-741 Agreement and Janssen ADU-214 Agreement totaling $9.1 million and $18.2 million, respectively, related to amortization of the upfront fees and development-related non-substantive milestones. The remaining balance of the payments received of $17.8 million is included in deferred revenue at June 30, 2015.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Leases The Company leases its office and research and development facility in Berkeley, California, under a non-cancelable operating lease. In February 2015, the Company amended its office lease agreement to increase the total square footage to approximately 25,000 square feet and extended the term of the lease to expire on December 31, 2018. The lease also contains an option to extend the lease for an additional two years. Rent expense was $0.2 million and $0.1 million during the three months ended June 30, 2015 and 2014, respectively and was $0.3 million and $0.2 million for the six months ended June 30, 2015 and 2014, respectively. Indemnifications In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless and defend an indemnified party for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. The Company has never incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. The Company has also entered into indemnification agreements with its directors, officers and key employees that may require the Company to indemnify such individuals against liabilities that may arise by reason of their status or service as directors, officers or key employees to the fullest extent permitted by Delaware corporate law. The Company currently has directors’ and officers’ insurance. Legal During the normal course of business, the Company may be a party to legal claims that may not be covered by insurance. Management does not believe that any such claims would have a material impact on the Company’s financial statements. Other Commitments The Company has various manufacturing, clinical, research and other contracts with vendors in the conduct of the normal course of its business. All contracts are terminable, with varying provisions regarding termination. If a contract with a specific vendor were to be terminated, the Company would only be obligated for the products or services that the Company had received at the time the termination became effective as well as non-cancelable and non-refundable payment obligations incurred by the vendor for products or services before the termination became effective. In the case of terminating a clinical trial agreement at a particular site, the Company would also be obligated to provide continued support for appropriate medical procedures at that site until completion or termination.

Convertible Preferred Stock

Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Convertible Preferred Stock	7. Convertible Preferred Stock Novartis Stock Purchase Concurrent with the March 2015 entry into the Novartis Agreement (See Note 5), the Company and NIBR, entered into a stock purchase agreement to purchase 2,361,029 shares of the Company’s Series E Convertible Preferred Stock (or 1,699,940 shares of common stock on an as-converted basis) for $25.0 million. Upon the closing of the IPO, these preferred shares converted into common stock. Under the stock purchase agreement, NIBR purchased an additional $25.0 million of the Company’s common stock concurrent with the completion of the Company’s April 2015 IPO at the initial price per share offered to the public.

Warrant Liabilities

Warrant Liabilities	6 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Warrant Liabilities	8. Warrant Liabilities In April 2011, the Company issued warrants to purchase 24,235 shares of Series A-1 convertible preferred stock, or Series A-1 warrants, and 83,771 warrants to purchase shares of Series B convertible preferred stock, or Series B warrants. The Series A-1 warrants and Series B warrants were immediately exercisable and expire, if not exercised, in April 2021 and April 2016, respectively. As the shares into which the warrants were exercisable were contingently redeemable, the Company recognized a liability for the fair value of the warrants on the condensed consolidated balance sheet. At the date of the IPO, the Series A-1 warrants and Series B warrants became exercisable for common stock and were no longer contingently redeemable. At the IPO, the ending fair value of these warrants of $1.2 million was reclassified to additional paid-in capital, and the change in fair value of $1.1 million was recognized as loss from remeasurement of fair value of warrants in the condensed consolidated statements of operations. In April, June, and October 2011, the Company issued warrants to purchase 615,658 shares of common stock. The common stock warrants were exercisable beginning in April 2015 and would have terminated in whole or part, if the Company had obtained certain levels of government grant funds by April 15, 2015. The warrants expire, if not exercised, in April 2021. As the warrants were subject to performance conditions which may result in the issuance of a variable number of shares, the Company recognized a liability for the fair value of the common stock warrants on the condensed consolidated balance sheet. At April 15, 2015, the Company did not obtain the specified levels of government grant funds and the performance conditions expired and the number of common shares issuable was fixed. On April 15, 2015, the ending fair value of the common stock warrants of $25.9 million was reclassified to additional paid-in capital, and the change in fair value of $25.0 million was recognized as loss from remeasurement of fair value of warrants in the condensed consolidated statements of operations. The key assumptions used in the Black-Scholes option-pricing model for the valuation of the convertible preferred stock warrants were as follows: Six Months Ended June 30, 2015 2014 Expected term (in years) 1.00 - 6.04 1.79 - 7.04 Fair value of underlying shares $10.80 - $12.24 $0.67 - $1.56 Volatility 79.2% -111.1% 63.1% - 80.8% Risk-free interest rate 0.23% - 1.54% 0.38% - 2.30% Dividend yield —% —% The key assumptions used in the Black-Scholes option-pricing model for the valuation of the common stock warrants were as follows: Six Months Ended June 30, 2015 2014 Expected term (in years) 6.00 - 6.58 6.79 - 7.58 Fair value of underlying shares $15.00 - $42.00 $1.03 - $1.07 Volatility 82.0% - 82.6% 76.3% - 80.4% Risk-free interest rate 1.51% 2.13% - 2.41% Dividend yield —% —%

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Plans	9. Stock-Based Compensation Plans 2015 Stock Option Plan In March 2015, the Company’s board of directors adopted and in April 2015 the Company’s stockholders approved the 2015 Equity Incentive Plan, or the 2015 Plan, which became effective upon the IPO and provides for the granting of incentive stock options, nonstatutory stock options, and other forms of stock awards to its employees, directors and consultants. The 2015 Plan is administered by the Board of Directors or a committee appointed by the Board of Directors, which determines the types of awards to be granted, including the number of shares subject to the awards, the exercise price and the vesting schedule. The exercise price of incentive stock options and nonqualified stock options will be no less than 100% of the fair value per share of the Company’s common stock on the date of grant. If an individual owns capital stock representing more than 10% of the voting shares, the price of each share will be at least 110% of the fair value on the date of grant. Options expire after 10 years (five years for stockholders owning greater than 10% of the voting stock). Shares of common stock reserved for issuance under the 2015 Plan is 6,134,292 shares with automatic annual increase to the shares issuable under the 2015 Plan to the lower of (i) 4% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, or (ii) a lower number determined by the Board of Directors. 2009 Stock Incentive Plan The Company’s 2009 Stock Incentive Plan, or the 2009 Plan, terminated on the date the 2015 Plan was adopted. Options granted or shares issued under the 2009 Plan that were outstanding on the date the 2015 Plan became effective will remain subject to the terms of its plan. Prior to the 2009 Plan termination, the number of options available for grant was increased by 360,000 shares. At June 30, 2015, 8,777,668 options under the 2009 Plan remained outstanding. Stock option activity under the Company’s 2015 plan and 2009 plan was as follows: Options Outstanding Shares Available for Grant Number of Options Weighted- Average Exercise Price Aggregate Intrinsic Value (In Balance – December 31, 2014 3,154,755 5,970,382 $ 0.80 Authorized 6,494,292 — Granted (3,998,747 ) 3,998,747 $ 6.00 Exercised — (291,487 ) $ 0.61 Canceled 96,474 (96,474 ) $ 1.74 Balance – June 30, 2015 5,746,774 9,581,168 $ 2.97 $ 263,162 Options exercisable – June 30, 2015 4,115,134 $ 1.01 $ 120,716 Options vested and expected to vest – June 30, 2015 9,101,589 $ 2.92 $ 250,400 2015 Employee Stock Purchase Plan In March 2015, the Company’s board of directors adopted and in April 2015 the Company’s stockholders approved the 2015 Employee Stock Purchase Plan, or 2015 ESPP, which became effective upon the IPO. The 2015 ESPP is intended to qualify as an employee stock purchase plan under Section 423 of the Code, and administered by the Company’s board of directors and the Compensation Committee of the board of directors. Stock-based Compensation Expense Total stock-based compensation expense recognized was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Research and development $ 606 $ 37 $ 751 $ 81 General and administrative 2,159 58 2,594 123 Total stock-based compensation expense $ 2,765 $ 95 $ 3,345 $ 204 In determining the fair value of the stock-based awards, the Company uses the Black-Scholes option- pricing model. The fair value of stock-based awards granted to employees during the six months ended June 30, 2015 was estimated at the date of grant using the following assumptions: 2015 Plan 2015 ESPP Expected term (in years) 5.3 - 6.2 0.5 Volatility 70.2% - 85.2% 71.7% Risk-free interest rate 0.80% - 0.1% Dividend yield —% —% No options were granted to employees during the six months ended June 30, 2014.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	The Company did not record a provision or benefit for income taxes during the three and six months ended June 30, 2015 and 2014. The Company continues to maintain a full valuation allowance for its net U.S. federal and state deferred tax assets. The Company accounts for uncertain tax positions in accordance with ASC 740 , Accounting for Income Taxes The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits in income tax expense. As of June 30, 2015 and 2014, the Company accrued no interest and penalties in the statement of financial position. Total interest and penalties included in the statements of operations for the three and six months ended June 30, 2015 and 2014 are each zero. The Company does not expect the amount of existing unrecognized tax benefits to change significantly within the next 12 months. The Company is subject to taxation for U.S. federal and the state of California purposes only. The Company’s federal and California tax returns are open by statute for tax years 2011 and 2010 forward, respectively, and could be subject to examination by the tax authorities

Net Loss Per Common Share

Net Loss Per Common Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Net Loss Per Common Share	11. Net Loss per Common Share Since the Company was in a loss position for all periods presented, basic net loss per common share is the same as diluted net loss per common share for all periods presented as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per common share calculations because they would be anti-dilutive were as follows: June 30, 2015 2014 Convertible preferred stock — 42,125,585 Options to purchase common stock 9,581,168 4,029,019 Convertible preferred stock warrants — 108,006 Common stock warrants 968,541 1,154,270 Convertible notes — 1,121,860 Total 10,549,709 48,538,740

Basis of Presentation Use of 18

Basis of Presentation Use of Estimates and Recent Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, and following the requirements of the Securities and Exchange Commission, or the SEC, for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of December 31, 2014 has been derived from audited consolidated financial statements at that date but does not include all of the information required by U.S. GAAP for complete financial statements. These financial statements have been prepared on the same basis as our annual financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for a fair presentation of our financial information. The results of operations for the period ended June 30, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015 or for any other interim period or for any other future year. The accompanying condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2014 included in our Registration Statement on Form S-1 filed with the SEC.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and reported amounts of revenue and expenses in the financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, clinical trial accruals, convertible preferred stock and related warrants, common stock and related warrants, income taxes and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.
Initial Public Offering	Initial Public Offering On April 20, 2015, the Company closed its initial public offering, or IPO and sold 8,050,000 shares of its common stock (inclusive of 1,050,000 shares of common stock pursuant to the full exercise of the underwriters’ option to purchase additional shares) at a price to the public of $17.00 per share. The Company received aggregate net proceeds of $124.2 million, net of underwriting discounts and offering expenses. The Company also sold to Novartis Institutes for BioMedical Research, Inc., or NIBR, in a concurrent private placement 1,470,588 shares of common stock at a price of $17.00 per share for proceeds of $25.0 million (See Note 7). Upon the closing of the IPO, all then-outstanding shares of convertible preferred stock converted by their terms into 51,822,659 shares of common stock. Additionally, the Company amended and restated its certificate of incorporation effective April 14, 2015 to, among other things, change the authorized number of shares of common stock to 300,000,000 shares and the authorized number of shares of preferred stock to 10,000,000 shares.
Reverse Stock Split	Reverse Stock Split On April 1, 2015, the Company effected a 0.72-for-1 reverse split of its common stock. Upon the effectiveness of the reverse stock split, (i) every 1 share of outstanding common stock was combined into 0.72 of a share of common stock, (ii) the number of shares of common stock for which each outstanding option or warrant to purchase common stock is exercisable was proportionally decreased on a 0.72-for-1 basis, (iii) the exercise price of each outstanding option or warrant to purchase common stock was proportionately increased on a 0.72-for-1 basis, and (iv) the conversion ratio for each share of preferred stock which was convertible into the Company’s common stock was proportionately reduced on a 0.72-for-1 basis. All of the outstanding common stock share numbers, warrants to purchase common stock, common stock share prices, common stock exercise prices and per share amounts have been adjusted, on a retroactive basis, to reflect this 0.72-for-1 reverse stock split for all periods presented. The par value per share, authorized number of shares of common stock, preferred stock and preferred stock warrants were not adjusted as a result of the reverse stock split.
Offering Costs	Offering Costs Offering costs represent underwriting, legal, accounting and other direct costs related to the Company’s IPO. These costs were deferred until completion of the IPO, at which time they were reclassified to additional paid-in capital as a reduction of the proceeds.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Auditing Standards Update, or ASU, No. 2014-09, Revenue from Contracts with Customers

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): June 30, 2015 Level 1 Level 2 Level 3 Total Financial Assets: Money market funds $ 463,515 $ — $ — $ 463,515 December 31, 2014 Level 1 Level 2 Level 3 Total Financial Assets: Money market funds $ 110,001 $ — $ — $ 110,001 Financial Liabilities: Convertible preferred stock warrant liability $ — $ — $ 100 $ 100 Common stock warrant liability — — 889 889 Total $ — $ — $ 989 $ 989
Summary of Changes in Fair Value of Level 3 Financial Liabilities	The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities (in thousands): Convertible Preferred Stock Warrant Liability Common Stock Warrant Liability Balance at December 31, 2014 $ 100 $ 889 Net increase in fair value upon remeasurement 1,108 24,969 Reclassification to additional paid-in capital (1,208 ) (25,858 ) Balance at June 30, 2015 $ - $ -

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2015
Balance Sheet Components [Abstract]
Summary of Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): June 30, December 31, 2015 2014 Lab equipment $ 2,051 $ 1,165 Computer and office equipment 601 520 Furniture and fixtures 170 87 Leasehold improvements 542 304 Total property and equipment 3,364 2,076 Less: accumulated depreciation and amortization (1,242 ) (1,023 ) Property and equipment, net $ 2,122 $ 1,053
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands): June 30, December 31, 2015 2014 Licensing fees $ 3,349 $ 160 Compensation and related benefits 1,402 1,276 Professional and consulting services 1,021 961 Other 195 11 Total accrued expenses and other liabilities $ 5,967 $ 2,408

Warrant Liabilities (Tables)

Warrant Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Convertible Preferred Stock Warrants
Class Of Warrant Or Right [Line Items]
Summary of Assumptions Used Black-Scholes Option-Pricing Model	The key assumptions used in the Black-Scholes option-pricing model for the valuation of the convertible preferred stock warrants were as follows: Six Months Ended June 30, 2015 2014 Expected term (in years) 1.00 - 6.04 1.79 - 7.04 Fair value of underlying shares $10.80 - $12.24 $0.67 - $1.56 Volatility 79.2% -111.1% 63.1% - 80.8% Risk-free interest rate 0.23% - 1.54% 0.38% - 2.30% Dividend yield —% —%
Common Stock Warrants
Class Of Warrant Or Right [Line Items]
Summary of Assumptions Used Black-Scholes Option-Pricing Model	The key assumptions used in the Black-Scholes option-pricing model for the valuation of the common stock warrants were as follows: Six Months Ended June 30, 2015 2014 Expected term (in years) 6.00 - 6.58 6.79 - 7.58 Fair value of underlying shares $15.00 - $42.00 $1.03 - $1.07 Volatility 82.0% - 82.6% 76.3% - 80.4% Risk-free interest rate 1.51% 2.13% - 2.41% Dividend yield —% —%

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock Option Plan Activity	Stock option activity under the Company’s 2015 plan and 2009 plan was as follows: Options Outstanding Shares Available for Grant Number of Options Weighted- Average Exercise Price Aggregate Intrinsic Value (In Balance – December 31, 2014 3,154,755 5,970,382 $ 0.80 Authorized 6,494,292 — Granted (3,998,747 ) 3,998,747 $ 6.00 Exercised — (291,487 ) $ 0.61 Canceled 96,474 (96,474 ) $ 1.74 Balance – June 30, 2015 5,746,774 9,581,168 $ 2.97 $ 263,162 Options exercisable – June 30, 2015 4,115,134 $ 1.01 $ 120,716 Options vested and expected to vest – June 30, 2015 9,101,589 $ 2.92 $ 250,400
Summary of Stock-Based Compensation	Total stock-based compensation expense recognized was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Research and development $ 606 $ 37 $ 751 $ 81 General and administrative 2,159 58 2,594 123 Total stock-based compensation expense $ 2,765 $ 95 $ 3,345 $ 204
Schedule of Black-Scholes Option Pricing Model	The fair value of stock-based awards granted to employees during the six months ended June 30, 2015 was estimated at the date of grant using the following assumptions: 2015 Plan 2015 ESPP Expected term (in years) 5.3 - 6.2 0.5 Volatility 70.2% - 85.2% 71.7% Risk-free interest rate 0.80% - 0.1% Dividend yield —% —%

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Potentially Dilutive Securities not Included in Calculation of Diluted Per Common Share	Potentially dilutive securities that were not included in the diluted per common share calculations because they would be anti-dilutive were as follows: June 30, 2015 2014 Convertible preferred stock — 42,125,585 Options to purchase common stock 9,581,168 4,029,019 Convertible preferred stock warrants — 108,006 Common stock warrants 968,541 1,154,270 Convertible notes — 1,121,860 Total 10,549,709 48,538,740

Nature of Business - Additional

Nature of Business - Additional Information (Details)	6 Months Ended
	Jun. 30, 2015Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of business segments	1

Basis of Presentation, Use of E

Basis of Presentation, Use of Estimates, and Recent Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands	Apr. 30, 2015USD ($)	Apr. 20, 2015USD ($)$ / sharesshares	Apr. 01, 2015	Jun. 30, 2015USD ($)shares	Apr. 14, 2015shares	Dec. 31, 2014shares
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Reverse split of common stock				On April 1, 2015, the Company effected a 0.72-for-1 reverse split of its common stock. Upon the effectiveness of the reverse stock split, (i) every 1 share of outstanding common stock was combined into 0.72 of a share of common stock, (ii) the number of shares of common stock for which each outstanding option or warrant to purchase common stock is exercisable was proportionally decreased on a 0.72-for-1 basis, (iii) the exercise price of each outstanding option or warrant to purchase common stock was proportionately increased on a 0.72-for-1 basis, and (iv) the conversion ratio for each share of preferred stock which was convertible into the Company’s common stock was proportionately reduced on a 0.72-for-1 basis. All of the outstanding common stock share numbers, warrants to purchase common stock, common stock share prices, common stock exercise prices and per share amounts have been adjusted, on a retroactive basis, to reflect this 0.72-for-1 reverse stock split for all periods presented.
Preferred stock shares authorized				10,000,000	10,000,000	0
Common stock shares authorized				300,000,000	300,000,000	85,000,000
IPO
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Issuance of stock | $				$ 124,193
Private Placement
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Issuance of stock | $				$ 25,000
Novartis Agreement | Private Placement
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Issuance of stock | $	$ 25,000
Common Stock
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Stock split conversion ratio			0.72
Number of common stock issued on conversion of convertible preferred stock				51,822,659
Common Stock | IPO
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Issuance of stock , Shares		8,050,000		8,050,000
Stock price per share | $ / shares		$ 17
Proceeds from IPO net of underwriting discount, commission and offering expenses | $		$ 124,200
Issuance of stock | $				$ 1
Number of common stock issued on conversion of convertible preferred stock		51,822,659
Common Stock | Exercise of Underwriters
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Issuance of stock , Shares		1,050,000
Common Stock | Private Placement
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Issuance of stock , Shares				1,470,588
Common Stock | Novartis Agreement | Private Placement
Basis Of Presentation Use Of Estimates And Recent Accounting Policies [Line Items]
Issuance of stock , Shares		1,470,588
Stock price per share | $ / shares		$ 17
Issuance of stock | $		$ 25,000

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financial Liabilities:
Financial Liabilities, fair value		$ 989
Convertible Preferred Stock Warrant Liability
Financial Liabilities:
Financial Liabilities, fair value		100
Common Stock Warrant Liability
Financial Liabilities:
Financial Liabilities, fair value		889
Level 3
Financial Liabilities:
Financial Liabilities, fair value		989
Level 3 | Convertible Preferred Stock Warrant Liability
Financial Liabilities:
Financial Liabilities, fair value		100
Level 3 | Common Stock Warrant Liability
Financial Liabilities:
Financial Liabilities, fair value		889
Money Market Funds
Financial Assets:
Financial Assets, fair value	$ 463,515	110,001
Money Market Funds | Level 1
Financial Assets:
Financial Assets, fair value	$ 463,515	$ 110,001

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Changes in Fair Value of Level 3 Financial Liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Reclassification to additional paid-in capital	$ (27,066)
Convertible Preferred Stock Warrant Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	100
Net increase in fair value upon remeasurement	1,108
Reclassification to additional paid-in capital	(1,208)
Common Stock Warrant Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	889
Net increase in fair value upon remeasurement	24,969
Reclassification to additional paid-in capital	$ (25,858)

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 3,364	$ 2,076
Less: accumulated depreciation and amortization	(1,242)	(1,023)
Property and equipment, net	2,122	1,053
Lab Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	2,051	1,165
Computer and Office Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	601	520
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	170	87
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 542	$ 304

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Balance Sheet Components [Abstract]
Depreciation and amortization	$ 126	$ 51	$ 219	$ 94

Balance Sheet Components - Su30

Balance Sheet Components - Summary of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Payables And Accruals [Abstract]
Licensing fees	$ 3,349	$ 160
Compensation and related benefits	1,402	1,276
Professional and consulting services	1,021	961
Other	195	11
Total accrued expenses and other liabilities	$ 5,967	$ 2,408

Collaboration Agreements - Addi

Collaboration Agreements - Additional Information (Details) - USD ($)	1 Months Ended			3 Months Ended	6 Months Ended	14 Months Ended
	Apr. 30, 2015	Nov. 30, 2014	May. 31, 2014	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Deferred consideration from Novartis collaboration				$ 200,000,000	$ 200,000,000	$ 200,000,000
Deferred revenue				17,754,000	$ 17,754,000	17,754,000	$ 33,427,000
Novartis Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Novartis share of joint development costs					38.00%
Period after first commercial sale of product on which Novartis' royalty obligation run on a country to country basis					12 years
Novartis Agreement | European Countries and Japan
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaborative arrangement profit share percentage					45.00%
Novartis Agreement | United States
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaborative arrangement profit share percentage					50.00%
Novartis Agreement | United States, Specified European Countries and /or Japan
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaborative Agreement, Obligations					With respect to the United States, specified European countries and/or Japan, the Company may elect for such region to either reduce by 50% or to eliminate in full the Company’s development cost sharing obligation. If the Company elects to reduce its cost sharing percentage by 50% in any such region, then its profit share in such region will also be reduced by 50%. If the Company elects to eliminate its development cost sharing obligation, then such region will be removed from the profit share, and instead Novartis will owe the Company royalties on any net sales of product for such region, as described above. The Company recognizes revenue from collaboration, license or research arrangements when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collection is reasonably assured. As of June 30, 2015, the Company and Novartis had not yet completed activities to provide persuasive evidence of an arrangement, primarily the Joint Steering Committee’s approval of the research and development plan. As a result, the Company did not recognize any revenue pursuant to the Novartis collaboration for the quarter ended June 30, 2015. The Company recorded the $200 million upfront payment as deferred consideration from Novartis collaboration in the condensed consolidated balance sheet.
Reduction percentage of development cost share					50.00%
Reduction percentage of profit share					50.00%
Novartis Agreement | Novartis
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Novartis share of joint development costs					62.00%
Novartis Agreement | Upfront Payment
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payments received under collaboration agreement	$ 200,000,000
Deferred consideration from Novartis collaboration				200,000,000	$ 200,000,000	200,000,000
Novartis Agreement | Maximum | Development Milestone
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone amount eligible to receive					250,000,000
Novartis Agreement | Maximum | Regulatory Approval Milestone
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone amount eligible to receive					250,000,000
Janssen ADU-741 Agreements | Upfront Payment
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payments received under collaboration agreement						12,000,000
Janssen ADU-741 Agreements | Non Substantive And Substantive Milestone
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payments received under collaboration agreement						6,500,000
Janssen ADU-741 Agreements | Maximum | Nonrefundable Milestone Payments
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone amount eligible to receive					1,000,000
Janssen ADU-741 Agreements | Maximum | Contingent Payments
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone amount eligible to receive					345,500,000
Janssen GVAX Prostate Agreement | Upfront Payment
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payments received under collaboration agreement			$ 500,000
Janssen GVAX Prostate Agreement | Specified Commercial Milestone
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone amount eligible to receive					2,000,000
Janssen ADU-741 and Janssen GVAX Prostate Agreement | Upfront Payment
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payments received under collaboration agreement					12,500,000
Janssen ADU-214 Agreement | Upfront Payment
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payments received under collaboration agreement		$ 30,000,000
Janssen ADU-214 Agreement | Maximum | Nonrefundable Milestone Payments
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone amount eligible to receive					11,000,000
Janssen ADU-214 Agreement | Maximum | Contingent Payments
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone amount eligible to receive					776,000,000
Janssen ADU-741 Agreement and Janssen ADU-214 Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized				9,100,000	18,200,000
Deferred revenue				$ 17,800,000	$ 17,800,000	$ 17,800,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Feb. 28, 2015ft²
Commitments And Contingencies Disclosure [Abstract]
Total square footage of leased property					25,000
Lease expiration date			Dec. 31, 2018
Additional operating lease term			2 years
Rent expense | $	$ 0.2	$ 0.1	$ 0.3	$ 0.2

Convertible Preferred Stock - A

Convertible Preferred Stock - Additional Information (Details) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 20, 2015	Jun. 30, 2015
Private Placement
Class Of Stock [Line Items]
Issuance of stock			$ 25,000
Private Placement | Common Stock
Class Of Stock [Line Items]
Issuance of stock , Shares			1,470,588
Novartis Agreement | Series E Convertible Preferred Stock
Class Of Stock [Line Items]
Issuance of stock , Shares			2,361,029
Issuance of stock			$ 25,000
Novartis Agreement | Common Stock
Class Of Stock [Line Items]
Common stock, conversion basis			1,699,940
Novartis Agreement | Private Placement
Class Of Stock [Line Items]
Issuance of stock	$ 25,000
Novartis Agreement | Private Placement | Common Stock
Class Of Stock [Line Items]
Issuance of stock , Shares		1,470,588
Issuance of stock		$ 25,000

Warrant Liabilities - Additiona

Warrant Liabilities - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		7 Months Ended
	Apr. 30, 2011	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Oct. 31, 2011	Apr. 15, 2015	Apr. 14, 2015
Class Of Warrant Or Right [Line Items]
Warrants issued to purchase stock						615,658
Warrants expire date						2021-04
Warrant remeasurement expense, net		$ 16,735	$ (25)	$ 26,077	$ 125
Warrants exercisable date						2015-04
Government fund grant date						Apr. 15, 2015
Common Stock Warrants
Class Of Warrant Or Right [Line Items]
Fair value of warrants							$ 25,900
Warrant remeasurement expense, net				25,000
Series A-1
Class Of Warrant Or Right [Line Items]
Warrants issued to purchase stock	24,235
Warrants expire date	2021-04
Series B
Class Of Warrant Or Right [Line Items]
Warrants issued to purchase stock	83,771
Warrants expire date	2016-04
Convertible Preferred Stock Warrants
Class Of Warrant Or Right [Line Items]
Fair value of warrants								$ 1,200
Warrant remeasurement expense, net				$ 1,100

Warrant Liabilities - Summary o

Warrant Liabilities - Summary of Assumptions Used Black-Scholes Option-Pricing Model (Details) - $ / shares	3 Months Ended	6 Months Ended
	Apr. 14, 2015	Jun. 30, 2014
Convertible Preferred Stock Warrants | Minimum
Class Of Warrant Or Right [Line Items]
Expected term (in years)	1 year	1 year 9 months 15 days
Fair value of underlying shares	$ 10.80	$ 0.67
Volatility	79.20%	63.10%
Risk-free interest rate	0.23%	0.38%
Convertible Preferred Stock Warrants | Maximum
Class Of Warrant Or Right [Line Items]
Expected term (in years)	6 years 15 days	7 years 15 days
Fair value of underlying shares	$ 12.24	$ 1.56
Volatility	111.10%	80.80%
Risk-free interest rate	1.54%	2.30%
Common Stock Warrants | Minimum
Class Of Warrant Or Right [Line Items]
Expected term (in years)	6 years	6 years 9 months 15 days
Fair value of underlying shares	$ 15	$ 1.03
Volatility	82.00%	76.30%
Risk-free interest rate	1.51%	2.13%
Common Stock Warrants | Maximum
Class Of Warrant Or Right [Line Items]
Expected term (in years)	6 years 6 months 29 days	7 years 6 months 29 days
Fair value of underlying shares	$ 42	$ 1.07
Volatility	82.60%	80.40%
Risk-free interest rate	1.63%	2.41%

Stock-Based Compensation Plan36

Stock-Based Compensation Plans - Additional Information (Details) - shares	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares reserved for issuance	6,494,292
Number of options outstanding	9,581,168		5,970,382
Options granted	3,998,747	0
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of exercise price to fair market value common stock on grant date.	100.00%
Stock option expiration period	10 years
2015 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares reserved for issuance	6,134,292
Percentage of shares issued on common stock outstanding			4.00%
Common Stock Issuance Description	shares issuable under the 2015 Plan to the lower of (i) 4% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, or (ii) a lower number determined by the Board of Directors.
2009 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares reserved for issuance	360,000
Number of options outstanding	8,777,668
More Than 10% Voting Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option expiration period	5 years
More Than 10% Voting Shares | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of exercise price to fair market value common stock on grant date.	110.00%

Stock-Based Compensation Plan37

Stock-Based Compensation Plans - Schedule of Stock Option Plan Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares Available for Grant, Beginning balance	3,154,755
Shares Available for Grant, Authorized	6,494,292
Shares Available for Grant, Granted	(3,998,747)	0
Shares Available for Grant, Canceled	96,474
Shares Available for Grant, Ending balance	5,746,774
Number of Options, Beginning balance	5,970,382
Number of Options, Granted	3,998,747	0
Number of Options, Exercised	(291,487)
Number of Options, Canceled	(96,474)
Number of Options, Ending balance	9,581,168
Number Options, Options exercisable	4,115,134
Number of Options, Options vested and expected to vest	9,101,589
Weighted-Average Exercise Price, Beginning balance	$ 0.80
Weighted-Average Exercise Price, Granted	6
Weighted-Average Exercise Price, Exercised	0.61
Weighted-Average Exercise Price, Canceled	1.74
Weighted-Average Exercise Price, Ending balance	2.97
Weighted-Average Exercise Price, Options exercisable	1.01
Weighted-Average Exercise Price, Options vested and expected to vest	$ 2.92
Aggregate Intrinsic Value, Ending balance	$ 263,162
Aggregate Intrinsic Value, Options exercisable	120,716
Aggregate Intrinsic Value, Options vested and expected to vest	$ 250,400

Stock-Based Compensation Plan38

Stock-Based Compensation Plans - Summary of Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 2,765	$ 95	$ 3,345	$ 204
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	606	37	751	81
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 2,159	$ 58	$ 2,594	$ 123

Stock-Based Compensation Plan39

Stock-Based Compensation Plans - Schedule of Black-Scholes Option Pricing Model (Details) - 6 months ended Jun. 30, 2015	Total
Minimum | 2015 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 years 3 months 18 days
Volatility	70.20%
Risk-free interest rate	0.80%
Minimum | Two Zero One Five E S P P
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months
Volatility	71.70%
Risk-free interest rate	0.10%
Maximum | 2015 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 2 months 12 days
Volatility	85.20%
Risk-free interest rate	2.05%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 700,000	$ 400,000	$ 700,000	$ 400,000
Amount of unrecognized tax benefits that would, if recognized, reduce effective tax rate	0	0	0	0
Unrecognized tax benefits, income tax penalties and interest accrued	0	0	0	0
Unrecognized tax benefits, income tax penalties and interest expense	$ 0	$ 0	$ 0	$ 0
U.S. Federal Tax Authority
Income Tax Contingency [Line Items]
Open tax year			2,011
California Tax Authority | Minimum
Income Tax Contingency [Line Items]
Open tax year			2,010

Net Loss Per Common Share - Sch

Net Loss Per Common Share - Schedule of Potentially Dilutive Securities not Included in Calculation of Diluted Per Common Share (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities not included in calculation of diluted per common share	10,549,709	48,538,740
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities not included in calculation of diluted per common share		42,125,585
Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities not included in calculation of diluted per common share	9,581,168	4,029,019
Convertible Preferred Stock Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities not included in calculation of diluted per common share		108,006
Common Stock Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities not included in calculation of diluted per common share	968,541	1,154,270
Convertible Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities not included in calculation of diluted per common share		1,121,860