Soleno Therapeutics (SLNO) 10-Q 4 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	1-May-15
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	CAPN
Entity Registrant Name	Capnia, Inc.
Entity Central Index Key	1484565
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,511,484

Condensed_Balance_Sheets

Condensed Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$9,529	$7,957
Accounts receivable	8
Restricted cash	20	20
Inventory	206	109
Prepaid expenses and other current assets	260	252
Total current assets	10,023	8,338
Long-term assets
Property and equipment, net	44	58
Total assets	10,067	8,396
Current liabilities
Accounts payable	621	987
Accrued compensation and other current liabilities	438	201
Line of credit and accrued interest		102
Total current liabilities	1,059	1,290
Long-term liabilities
Total long-term liabilities	20,311	18,296
Total liabilities	21,370	19,586
Stockholders' deficit
Common stock, $0.001 par value, 100,000,000 shares authorized at March 31, 2015 and December 31, 2014; 7,448,389 and 6,769,106 shares issued and outstanding at March 31, 2015 and December 31, 2014	7	7
Additional paid-in-capital (see Note 4)	70,679	59,141
Accumulated deficit (see Note 4)	-81,989	-70,338
Total stockholders' deficit	-11,303	-11,190
Total liabilities and stockholders' deficit	10,067	8,396
Series A Warrant liability [Member]
Long-term liabilities
Warrant liability	3,582	857
Series B Warrant liability [Member]
Long-term liabilities
Warrant liability	14,180	17,439
Series C Warrant liability [Member]
Long-term liabilities
Warrant liability	$2,549

Condensed_Balance_Sheets_Paren

Condensed Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	7,448,389	6,769,106
Common stock, shares outstanding	7,448,389	6,769,106

Condensed_Statements_of_Operat

Condensed Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue	$22
Cost of revenue	18
Gross profit	4
Expenses
Research and development	878	372
Sales and marketing	260
General and administrative	1,292	312
Total expenses	2,430	684
Operating loss	-2,426	-684
Interest and other income (expense)
Interest (expense)	-1	-388
Change in fair value of warrants liabilities	-6,174	246
Inducement charge for Series C warrants	-3,050
Other income (expense), net		-8
Net loss	($11,651)	($834)
Basic and diluted net loss per common share	($1.67)	($1.56)
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	6,965,483	535,685

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	($11,651)	($834)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	15	7
Stock-based compensation expense	401	11
Loss on disposition of property and equipment		8
Change in fair value of preferred stock warrants in 2014 and common stock warrants in 2005	6,174	-246
Inducement charge for Series C warrants	3,050
Non-cash interest expense relating to warrants and convertible promissory notes		388
Change in operating assets and liabilities:
Accounts receivable	-8	150
Inventories	-97
Other receivables		-41
Prepaid expenses and other assets	-7	-77
Accounts payable	199	31
Accrued liabilities	115	94
Net cash used in operating activities	-1,809	-509
Cash flows from investing activities:
Proceeds from sale of property and equipment		4
Purchase of property and equipment	-1
Net cash (used in) provided by investing activities	-1	4
Cash flows from financing activities:
Proceeds from exercise of common stock options	12
Initial public offering costs paid	-530
Repayment of credit line	-102
Net cash provided by financing activities	3,382
Net increase (decrease) in cash and cash equivalents	1,572	-505
Cash and cash equivalents, beginning of period	7,957	1,269
Cash and cash equivalents, end of period	9,529	764
Supplemental disclosures of noncash investing and financing information
Reduction in initial public offering costs payable	45
Cashless exercise of 2010/2012 warrants	13
Series A Warrant liability [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of preferred stock warrants in 2014 and common stock warrants in 2005	-2,800
Cash flows from financing activities:
Proceeds from exercise of warrants	156
Series A Warrant liability [Member] | Cash Exercise [Member]
Supplemental disclosures of noncash investing and financing information
De-recognition warrant liability	42
Private Placement Series B Warrants [Member]
Cash flows from financing activities:
Proceeds from exercise of warrants	3,832
Other Series B Warrants [Member]
Cash flows from financing activities:
Proceeds from exercise of warrants	189
Series B Warrant liability [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of preferred stock warrants in 2014 and common stock warrants in 2005	-1,500
Cash flows from financing activities:
Series B warrant transaction costs paid	-175
Supplemental disclosures of noncash investing and financing information
Warrant transaction costs accrued and included in accrued compensation and other current liabilities	131
Series B Warrant liability [Member] | Cash Exercise [Member]
Supplemental disclosures of noncash investing and financing information
De-recognition warrant liability	6,748
Series B Warrant liability [Member] | Cash Less Exercise [Member]
Supplemental disclosures of noncash investing and financing information
De-recognition warrant liability	417
Series B Warrant liability [Member] | Warrants contributed back to the company [Member]
Supplemental disclosures of noncash investing and financing information
De-recognition warrant liability	$3

Description_of_Business

Description of Business	3 Months Ended
	Mar. 31, 2015
Description of Business	Note 1. Description of Business
	Capnia, Inc. (the “Company”) was incorporated in the State of Delaware on August 25, 1999, and is located in Redwood City, California. The Company develops products and therapeutics based on its proprietary technology for precision metering of gas flow.
	The Company’s first diagnostic product, CoSense®, aids in diagnosis of excessive hemolysis, a condition in which red blood cells degrade rapidly. When present in neonates with jaundice, hemolysis is a dangerous condition which can lead to long-term developmental disability. CoSense has 510(k) clearance for sale in the U.S. with a specific Indication for Use related to hemolysis issued, and has received CE Mark certification for sale in the European Union (“E.U.”). CoSense is commercially available in the U.S., with first commercial sales occurring in February 2015. In addition, the Company is applying its research and development efforts to additional diagnostic products based on its Sensalyze™ Technology Platform, a portfolio of proprietary methods and devices which enables CoSense and can be applied to detect a variety of analytes in exhaled breath. The Company has also obtained CE Mark certification in the E.U. for Serenz™, a therapeutic product candidate for the treatment of symptoms related to allergic rhinitis (“AR”).

Liquidity_Financial_Condition_

Liquidity, Financial Condition and Management's Plans	3 Months Ended
	Mar. 31, 2015
Liquidity, Financial Condition and Management's Plans	Note 2. Liquidity, Financial Condition and Management’s Plans
	The Company incurred a loss of $11.6 million for the quarterly period ended March 31, 2015 and has an accumulated deficit of approximately $82.0 million from having incurred losses since its inception. The Company’s current period loss includes approximately $9.2 million of non-cash charges relating to the fair value of derivative liabilities and approximately $0.4 million of stock based compensation. The Company has approximately $9.0 million of working capital at March 31, 2015 but used approximately $1.8 million of cash in its operating activities during the period. The Company has financed its operations principally through issuances of debt and equity securities. The Company completed its IPO on November 18, 2014 upon the issuance of 1,650,000 units, each of which consisted of one share of common stock, one Series A Warrant and one Series B Warrant, at an offering price of $6.50 per unit and received net proceeds of $8.0 million, after deducting underwriting discounts and commissions and IPO related expenses. The Series A Warrants are registered securities that are freely tradable on the NASDAQ. The Series B Warrants have variable settlement provisions (see Note 6). On March 5, 2015 the Company received approximately $3.8 million as a result of Series B Warrant holders exercising warrants to purchase shares of the Company’s Common Stock (the “Private Transaction”). In addition, on March 6, 2015 the Company received approximately $0.2 million as a result of Series A Warrant holders exercising warrants to purchase shares of the Company’s Common Stock. On March 31, 2015 the Company received $12 thousand from the exercise of stock options. Management believes that the Company has sufficient capital resources to sustain operations through at least May 5, 2016.
	The Company expects to continue incurring losses for the foreseeable future and may be required to raise additional capital to pursue its product development initiatives and penetrate markets for the sale of its products. The Company cannot provide any assurance that it will raise additional capital. Management believes that the Company has access to capital resources through possible public or private equity offerings, debt financings, corporate collaborations or other means; however, the Company has not secured any commitment for new financing at this time nor can it provide any assurance that new financing will be available on commercially acceptable terms, if at all. If the Company is unable to secure additional capital, it may be required to curtail its development of new products and take additional measures to reduce costs in order to conserve its cash in amounts sufficient to sustain operations and meet its obligations. These measures could cause significant delays in the Company’s efforts to commercialize its products, which is critical to the realization of its business plan and the future operations of the Company.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Summary of Significant Accounting Policies	Note 3. Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The condensed balance sheet at December 31, 2014 has been derived from the audited financial statements at that date, but does not include all disclosures, including notes, required by GAAP for complete financial statements.
	The unaudited interim condensed financial statements have been prepared on the same basis as the audited financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to present fairly its financial position as of March 31, 2015 and results of its operations and comprehensive loss for the three months ended March 31, 2015 and 2014, and cash flows for the three months ended March 31, 2015 and 2014. The interim results are not necessarily indicative of the results for any future interim period or for the entire year. Certain prior period amounts have been reclassified to conform to current period presentation.
	The accompanying condensed financial statements and related financial information should be read in conjunction with the audited financial statements and the related notes thereto for the year ended December 31, 2014 included in the Company’s Form 10-K.
	Use of Estimates
	The preparation of financial statements in conformity with 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 expenses in the financial statements and accompanying notes. Actual results could differ from those estimates. Key estimates included in the financial statements include the valuation of deferred income tax assets and the valuation of debt and equity instruments and stock-based compensation.
	Concentration of Credit Risk
	Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents at two commercial banks that management believes are of high credit quality. Cash and cash equivalents deposited with these commercial banks exceeded the Federal Deposit Insurance Corporation insurable limit at March 31, 2015 and December 31, 2014. The Company expects this to continue.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments, including its money market fund, purchased with an original maturity of three months or less to be cash equivalents. The Company’s cash and cash equivalents are held in institutions in the U.S. and include deposits in a money market fund which was unrestricted as to withdrawal or use. As of December 31, 2014 and March 31, 2015, the balance of the money market fund was $7.9 million and $6.5 million, respectively.
	Inventory
	Inventory as of December 31, 2014 consist of raw materials to be used in the manufacture of CoSense monitors and single-use nasal cannulas. Inventory is stated at the lower of cost or market under the first-in, first-out (FIFO) method. As of March 31, 2015, the Company’s inventory includes approximately $110 thousand of raw material, $61 thousand of work-in-process and $35 thousand in finished goods.
	Revenue Recognition
	The Company began recognizing sales of CoSense during the three months ended March 31, 2015. The Company recognizes revenue when all of the following criteria are met:
		•	persuasive evidence of an arrangement exists;
		•	the sales price is fixed or determinable;
		•	collection of the relevant receivable is probable at the time of sale; and
		•	delivery has occurred or services have been rendered.
	For a majority of sales, where the Company delivers its product to hospitals or medical facilities, the Company recognizes revenue upon delivery, which represents satisfaction of the required revenue recognition criteria. The Company does not offer rights of return or price protection and it has no post-delivery obligations. The Company has a limited one-year warranty to most customers. Estimated warranty obligations are recorded at the time of sale and to date, warranty costs have been insignificant.
	Research and Development
	Research and development costs are charged to operations as incurred. Research and development costs consist primarily of salaries and benefits, consultant fees, prototype expenses, certain facility costs and other costs associated with clinical trials, net of reimbursed amounts.
	Costs to acquire technologies to be used in research and development that have not reached technological feasibility and have no alternative future use are expensed to research and development costs when incurred.
	Common Stock Purchase Warrants and Other Derivative Financial Instruments
	The Company classifies common stock purchase warrants and other free standing derivative financial instruments as equity if the contracts (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the control of the Company), (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement), or (iii) contain reset provisions as either an asset or a liability. The Company assesses classification of its freestanding derivatives at each reporting date to determine whether a change in classification between assets and liabilities is required. The Company determined that certain freestanding derivatives, which principally consist of Series A, Series B, and Series C warrants to purchase common stock, do not satisfy the criteria for classification as equity instruments due to the existence of certain cash settlement features that are not within the sole control of the Company or variable settlement provision that cause them to not be indexed to the Company’s own stock.
	Recent Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.
	On June 10, 2014, the FASB issued ASU 2014-10, Elimination of Certain Financial Reporting Requirements, Including Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. The pending content resulting from the issuance of ASU 2014-10 eliminates the definition of development stage entity, thereby removing the distinction between the development stage entities and other reporting entities. As a consequence, inception-to-date presentation and other incremental disclosure requirements in ASC Topic 915 for entities previously considered development stage entities are eliminated. For public business entities, the ASU’s elimination of the inception-to-date information and the other disclosures in Topic 915 is effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. For other entities, this portion of the ASU is effective for annual reporting periods beginning after December 15, 2014, and interim reporting periods beginning after December 15, 2015. While the changes resulting from the issuance of ASU 2014-10 are not yet effective, early adoption of either the amendments to Topic 915 or Topic 810 is permitted for any annual or interim period for which a reporting entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities.)
	The Company adopted ASU 2014-10 as of June 30, 2014, and therefore is no longer considered in the development stage. The Company continues to engage in research and development activities; however, the adoption of this ASU allows the Company to remove the inception to date information and all references to development stage in the accompanying financial statements.
	The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements.

Revision_of_Prior_Year_Financi

Revision of Prior Year Financial Statements	3 Months Ended
	Mar. 31, 2015
Revision of Prior Year Financial Statements	Note 4. Revision of Prior Year Financial Statements
	It was determined during the preparation of the first quarter 2015 interim financial statements that the Series A Warrant Agreement contained provisions that if, at any time while the Series A Warrants are outstanding, the Company enters into a “Fundamental Transaction” (as defined in the Series A Warrant Agreement), which includes, but is not limited to, a purchase offer, tender offer or exchange offer, a stock or share purchase agreement or other business combination including, without limitation, a reorganization, recapitalization, spin-off or other scheme of arrangement), then each registered holder of outstanding Series A Warrants as at any time prior to the consummation of the Fundamental Transaction, may elect and require the Company to purchase the Series A Warrants held by such person immediately prior to the consummation of such Fundamental Transaction by making a cash payment in an amount equal to the Black Scholes Value of the remaining unexercised portion of such registered holder’s Series A Warrants. The Company determined that upon issuance in November 2014 the Series A Warrants should have been classified as a liability, with any changes in the fair value of the warrants between November 2014 and December 31, 2014 being recorded in other income (expense) in the statement of operations.
	Management has evaluated the effect of the error and determined that it is immaterial to the Company’s financial position and results of operations for the year ended December 31, 2014 and, therefore, amendment of the previously filed annual report on Form 10-K is not considered necessary. However, if the adjustments to correct the cumulative errors had been recorded in the first quarter of 2015, we believe the impact would have been significant to the first quarter and would impact comparisons to prior periods. In accordance with guidelines issued in Staff Accounting Bulletin No. 108, we have recorded adjustments in the current year’s beginning additional paid in capital, long term liabilities and accumulated deficit accounts to correct this error. We have also revised in this current Form 10-Q filing, and plan to revise in future filings of our Form 10-K, the previously reported annual financial statements for 2014 on Form 10-K for these amounts.
	The following table sets forth the revised prior period balances reported in our our comparative financial statements as if adjustments had been made:
	(in thousands except per share data)	Previously			Adjustment			Revised
		reported
	Balance sheet items at December 31, 2014:
	Current liabilities	$	1,290		$	—		$	1,290
	Series A warrant liability		—			857			857
	Series B warrant liability		17,439			—			17,439
	Total liabilities		18,729			857			19,586
	Additional paid-in capital		60,636			(1,494	)		59,141
	Accumulated deficit		(70,975	)		637			(70,338	)
	Total stockholders’ deficit		(10,333	)		(857	)		(11,190	)
	Liabilities and stockholders’ deficit	$	8,396		$	—		$	8,396
	Statement of operations items for the year ended December 31, 2014
	Other income (expense)	$	(4,585	)	$	637		$	(3,949	)
	Net loss	$	(13,875	)	$	637			(13,238	)
	Basic and diluted net loss per common share	$	(10.92	)	$	0.5			(10.42	)

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Fair Value of Financial Instruments	Note 5. Fair Value of Financial Instruments
	The carrying value of the Company’s cash and cash equivalents, prepaid expenses and other current assets, accounts payable and accrued liabilities, approximate fair value due to the short-term nature of these items. Based on the borrowing rates currently available to the Company for debt with similar terms and consideration of default and credit risk, the carrying value of the line of credit approximates fair value.
	Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.
	The fair value hierarchy defines a three-level valuation hierarchy for disclosure of fair value measurements as follows:
		•     Level I		Unadjusted quoted prices in active markets for identical assets or liabilities;
		•     Level II		Inputs other than quoted prices included within Level I that are observable, unadjusted quoted prices 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 III		Unobservable inputs that are supported by little or no market activity for the related assets or liabilities.
	The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
	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):
		Fair Value Measurements at December 31, 2014 (revised)
		Total			Level 1			Level 2			Level 3
	Assets
	Money market fund	$	7,892		$	7,892		$	—		$	—
	Liabilities
	Series A warrant liability	$	857		$	857		$	—		$	—
	Series B warrant liability		17,439			—			—			17,439
	Total common stock warrant liability	$	18,296		$	857		$	—		$	17,439
		Fair Value Measurements at March 31, 2015
		Total			Level 1			Level 2			Level 3
	Assets
	Money market fund	$	6,472		$	6,472		$	—		$	—
	Liabilities
	Series A warrant liability		3,582			3,582			—			—
	Series B warrant liability		14,180			—			—			14,180
	Series C warrant liability		2,549			—			—			2,549
	Total common stock warrant liability	$	20,311		$	3,582		$	—		$	16,729
	The Series A Warrants are a registered security that trades on the open market. The fair value of the Series A Warrant liability is based on the publicly quoted trading price of the warrants which are listed on and obtained from NASDAQ. Accordingly, the Series A Warrants are a Level 1 measurement. The fair value measurement of the Series B and Series C Warrants are based on significant inputs that are unobservable and thus represents a Level 3 measurement. The Company’s estimated fair value of the Series B Warrant liability is calculated using a Monte Carlo simulation. Key assumptions include the volatility of the Company’s stock, the Company’s stock price, expected dividend yield and risk-free interest rates (see Note 6). The Company’s estimated fair value of the Series C Warrant liability is calculated using the Black-Scholes valuation model. Key assumptions include the volatility of the Company’s stock, the Company’s stock price, expected dividend yield and risk-free interest rates (see Note 6). The Level 3 estimates are based, in part, on subjective assumptions.
	During the periods presented, the Company has not changed the manner in which it values liabilities that are measured at fair value using Level 3 inputs. The Company recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period. There were no transfers within the hierarchy during the periods presented.
	The following table sets forth a summary of the changes in the fair value of the Company’s Level 1 and Level 3 financial instruments, which are treated as liabilities, as follows:
		Series A Warrant						Series B Warrant						Series C Warrant
		Number of			Liability			Number of			Liability			Number of		Liability
		Warrants						Warrants						Warrants
					(in thousands)						(in thousands)					(in thousands)
	Balance at December 31, 2014 (revised)		2,449,605		$	857			2,449,605		$	17,439			—	$	—
	Change in value of Series A Warrants		—			2,767			—			—			—		—
	De-recognition of Series A Warrant liability upon exercise		(24,000	)		(42	)		—			—			—		—
	De-recognition of Series B Warrant liability upon cash exercise of 589,510 warrants in Private Transaction (589,510 shares issued)		—			—			(589,510	)		(6,430	)		—		—
	De-recognition of Series B Warrant liability for other cash exercises of 29,097 warrants (29,097 shares issued)		—			—			(29,097	)		(317	)		—		—
	De-recognition of Series B Warrant liability upon cashless exercise of 52,255 warrants (21,186 shares issued)		—			—			(52,255	)		(418	)		—		—
	De-recognition of Series B Warrant liability upon contribution of 468 warrants back to the Company		—			—			(468	)		(3	)		—		—
	Change in value of Series B Warrants		—			—			—			3,909			—		—
	Record Series C Warrant Liability		—			—			—			—			589,510		3,050
	Change in value of Series C Warrants		—			—			—			—			—		(501	)
	Balance at March 31, 2015		2,425,605		$	3,582			1,778,275		$	14,180			589,510	$	2,549

Warrant_Liabilities

Warrant Liabilities

3 Months Ended

Mar. 31, 2015

Warrant Liabilities

Note 6. Warrant Liabilities

Warrants terms

The Company has issued Series A Warrants, Series B Warrants and Series C Warrants (the “Warrants”).

The Company’s Series A, Series B, and Series C Warrants contain standard anti-dilution provisions for stock dividends, stock splits, subdivisions, combinations and similar types of recapitalization events. They also contain a cashless exercise feature that provides for their net share settlement at the option of the holder in the event that there is no effective registration statement covering the continuous offer and sale of the warrants and underlying shares. The Company is required to comply with certain requirement to cause or maintain the effectiveness of a registration statement for the offer and sale of these securities. The Warrant contracts further provide for the payment of liquidated damages at an amount per month equal to 1% of the aggregate VWAP of the shares into which each Warrant is convertible into in the event that the Company is unable to maintain the effectiveness of a registration statement as described herein. The Company evaluated the registration payment arrangement stipulated in the terms of these securities and determined that it is probable that the Company will maintain an effective registration statement and has therefore not allocated any portion of the IPO or Private Transaction proceeds to the registration payment arrangement. The Warrants also contain a fundamental transactions provision that permits their settlement in cash at fair value at the option of the holder upon the occurrence of a change in control. Such change in control events include tender offers or hostile takeovers, which are not within the sole control of the Company as the issuer of these warrants. Accordingly, the warrants are considered to have a cash settlement feature that precludes their classification as equity instruments. Settlement at fair value upon the occurrence of a fundamental transaction would be computed using the Black Scholes Option Pricing Model.

Accounting Treatment

The Company accounts for the Warrants in accordance with the guidance in ASC 815 Derivatives and Hedging. As indicated, above the Company may be obligated to settle warrants in cash in the case of a Fundamental Transaction.

Additionally, the terms of the Series B Warrants do not explicitly limit the potential number of shares, thereby the exercise of the Series B Warrants could result in the Company’s obligation to deliver a potentially unlimited number of shares upon settlement. As such, share settlement is not considered to be within the control of the Company.

The Company classified the Series A, Series B, and C Warrants as liabilities at their fair value and will re-measure the warrants at each balance sheet date until they are exercised or expire. Any change in the fair value is recognized as other income (expense) in the Company’s statement of operations.

Under ASC 815-40-35, the Company adopted a sequencing policy that reclassifies contracts, with the exception of stock options, from equity to assets or liabilities for those with the latest inception date first. Future issuance of securities will be evaluated as to reclassification as a liability under our sequencing policy of latest inception date first until either all of the Series B warrants are settled or expire.

In accordance with the guidance under ASC 815-40-25, we have evaluated that we have a sufficient number of authorized and unissued shares as March 31, 2015, to settle all existing commitments.

Series A Warrants

The Company has issued 2,449,605 Series A Warrants to purchase shares of its Common Stock at an exercise price of $6.50 per share in connection with the IPO unit offering described in Note 2. The Series A Warrants are exercisable at any time prior to the expiration of the five-year term on November 12, 2019. Upon the completion of the IPO, the Series A warrants started trading on the NASDAQ under the symbol CAPNW. As the warrants are publicly traded, the Company uses the closing price on the measurement date to determine the fair value of these warrants.

During the quarter ended March 31, 2015, a total of 24,000 Series A Warrants were exercised. As of March 31, 2015, the fair value of the remaining 2,425,605 outstanding Series A Warrants was approximately $3.6 million. The increase in the fair value of the Series A warrants of $2.8 million during the quarter ended March 31, 2015 was recorded as other expense in the statement of operations.

Series B Warrants

The Company has issued 2,449,605 Series B Warrants to purchase shares of its Common Stock. In the event that the market price of the Company’s common stock falls below $6.50 at any time between March 12, 2015 and February 12, 2016, the Series B Warrants will become exercisable on a cashless basis for a number of common shares that increases as the market price of the Company’s common stock decreases, and exercisable at a discount to the tracking price of the common stock at the time. The result is an inverse relationship between the fair value of the shares and the number of shares issuable.

As December 31, 2014, and March 31, 2015 the Company used a Monte Carlo simulation to calculate the fair value of its Series B Warrant liability. This model is dependent upon several variables such as the warrant’s term, exercise price, current stock price, risk-free interest rate estimated over the contractual term, estimated volatility of our stock over the term of the warrant and the estimated market price of our stock during the cashless exercise period. The risk-free rate is based on U.S. Treasury securities with similar maturities as the expected terms of the warrants. The volatility is estimated based on blending the volatility rates for a number of similar publicly-traded companies. The Company used the following inputs:

December 31,

March 31,

2014

2015

Volatility

86.6

%

100

%

Expected Term (years)

1.1

0.87

Expected dividend yield

0

%

0

%

Risk-free rate

0.26

%

0.26

%

In addition to the assumptions above, the Company’s estimated fair value of the Series B Warrant liability is calculated using other key assumptions. Management, with the assistance of an independent valuation firm, makes these subjective determinations based on available current information; however, as such information changes, so might management’s determinations and such changes could have a material impact of future operating results.

As of December 31, 2014 and March 31, 2015 the outstanding Series B Warrants and fair market values were:

Issuance date

Contractual

Exercise price

Shares

Number of

Fair Value at

Number of

Fair Value at

Term

per share

Underlying

Warrants at

December 31, 2014

Warrants at

March 31, 2015

warrants

December 31, 2014

(in thousands)

March 31, 2015

(in thousands)

Nov-14

15 months

$

6.5

Adjustable

2,449,605

$

17,439

1,778,275

$

14,180

On March 5, 2015, certain Series B Warrant holders exercised a total of 589,510 Series B Warrants. Immediately prior to the exercise, the Company re-measured the fair value of the warrants, which was approximately $6.7 million. The increase in the fair value of $2.3 million between December 31, 2014 and the date of exercise was recorded as other expense in the statement of operations. During the three months ended March 31, 2015 there were cashless exercises of 52,255 Series B Warrants. There were 1,778,275 Series B warrants that remained outstanding as of March 31, 2015. The increase in fair value of these remaining warrants was $1.5 million during the quarter ended March 31, 2015, which was recorded as other expense in the statement of operations.

Series C Warrants

On March 5, 2015, the Company entered into separate agreements with certain Series B Warrant holders, who agreed to exercise their Series B Warrants to purchase an aggregate of 589,510 shares of the Company’s common stock at an exercise price of $6.50 per share, resulting in gross proceeds to the Company of approximately $3.8 million. In connection with this exercise of the Series B Warrants, the Company issued to each investor who exercised Series B Warrants, new Series C Warrants for the number of shares of the Company’s Common Stock underlying the Series B Warrants that were exercised. Each Series C Warrant is exercisable at $6.25 per share and will expire on March 5, 2020. The new Series C Warrants are exercisable into 589,510 shares of the Company’s Common Stock. On the date of issuance, the fair value of the Series C Warrants determined using the Black-Scholes valuation model was approximately $3.0 million. The Series C Warrants were treated as an inducement to enter into the transaction, and as such the $3.0 million fair value of the Series C Warrants was recorded as other expense in the statement of operations. As of March 31, 2015, the fair value of the Series C Warrants was determined to be $2.5 million. The decline in the fair value of the warrants of $0.5 million between the issuance date and March 31, 2015 was recorded as other income in the statement of operations.

The Company has calculated the fair value of the Series C warrants using a Black-Scholes pricing model, which requires the input of highly subjective assumptions including the expected stock price volatility. The Company used the following inputs:

March 4,

March 31,

2015

2015

Volatility

86

%

86

%

Expected Term (years)

5

4.93

Expected dividend yield

0

%

0

%

Risk-free rate

1.37

%

1.35

%

Credit_Facility

Credit Facility	3 Months Ended
	Mar. 31, 2015
Credit Facility	Note 7. Credit Facility
	On September 29, 2014, the Company established a line of credit in the amount of up to $0.1 million. The line of credit bears a fixed interest rate of 6.0% per annum simple interest. The line of credit has a two-year repayment term, with prepayment at the Company’s option with no penalty. The line of credit shall be payable out of cash received in the Company’s accounts receivable following their commencement of commercial sales.
	In October, 2014, the Company drew down the full amount of $0.1 million provided for by the line of credit. During the three months ended March 31, 2015, the Company repaid the outstanding amounts borrowed under the line of credit.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies	Note 8. Commitments and Contingencies
	Facility Leases
	The Company leases its headquarters facility under a non-cancelable operating lease agreement which was set to expire in May 2015. As of December 31, 2014, the Company’s future minimum commitments under non-cancelable operating lease were approximately $18,000. On February 2, 2015, the Company signed an amendment to its lease agreement, extending the lease through June 2018. The amendment provides for monthly lease payments of $22,000 beginning in June 2015, with modest increases in the following two years.
	Rent expense was $57,000 and $62,000 during the three months ended March 31, 2014 and 2015, respectively.
	Contingencies
	In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but have not yet been made. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.
	In 2010 the Company entered into an asset purchase agreement with BioMedical Drug Development, Inc. Pursuant to the agreement, the Company made a payment of $150,000 for the acquisition of intellectual property which the Company used to develop its product, CoSense. As part of the terms of the agreement, the Company is contingently committed to make development and sales-related milestone payments of up to $200,000 under certain circumstances, as well as single-digit-percentage royalties relating to potential planned product sales of CoSense. The amount, timing and likelihood of these payments are unknown, as they are dependent on the occurrence of future events that may or may not occur. In 2013 and during the nine months ended September 30, 2014, the Company made no payments and incurred no liabilities in connection with the agreement, and there are no outstanding payments due as of December 31, 2014 and as of March 31, 2015.

Stockholders_Deficit

Stockholders' Deficit	3 Months Ended
	Mar. 31, 2015
Stockholders' Deficit	Note 9. Stockholders’ Deficit
	Stock Option Plan
	The Company has adopted the 1999 Incentive Stock Plan, the 2010 Equity Incentive Plan, and the 2014 Equity Incentive Plan (together, the Plans). The 1999 Incentive Stock Plan expired in 2009, and the 2010 Equity Incentive Plan has been closed to new issuances. Therefore, the Company may issue options to purchase shares of common stock to employees, directors, and consultants only under the 2014 Equity Incentive Plan. Options granted under the 2014 Plan may be incentive stock options (“ISOs”) or nonqualified stock options (“NSOs”). ISOs may be granted only to Company employees and directors. NSOs may be granted to employees, directors, advisors, and consultants. The Board of Directors has the authority to determine to whom options will be granted, the number of options, the term, and the exercise price.
	Options are to be granted at an exercise price not less than fair value for an ISO or 85% of fair value for an NSO. For individuals holding more than 10% of the voting rights of all classes of stock, the exercise price of an option will not be less than 110% of fair value. The vesting period is normally monthly over a period of four years from the vesting date. The contractual term of an option is no longer than five years for ISOs for which the grantee owns greater than 10% of the voting power of all classes of stock and no longer than ten years for all other options.
	The Company recognized stock-based compensation expense related to options granted to employees for the three months ended March 31, 2014 and 2015 of $11,000 and $401,000, respectively. The compensation expense is allocated on a departmental basis, based on the classification of the option holder. No income tax benefits have been recognized in the statements of operations for stock-based compensation arrangements.
	Stock compensation expense was allocated between departments as follows (in thousands):
			Three Months Ended March 31,
			2014			2015
	Research and development		$	9		$	50
	Sales and marketing			—			20
	General and administrative			2			331
	Total		$	11		$	401
	The fair value of each award granted was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:
			Three Months Ended March 31,
			2014		2015
	Expected life (years)		5.8 - 6.1		5.5 - 6.1
	Risk-free interest rate		1.6% - 1.8%		1.5% - 1.6%
	Volatility		62% - 80%		57% - 68%
	Dividend rate		0%		0%
	Expected volatility is based on volatilities of a group of public companies operating in the Company’s industry. The expected life of stock options represents the average of the contractual term of the options and the weighted-average vesting period, as permitted under the simplified method. The Company has elected to use the simplified method, as the Company does not have enough historical exercise experience to provide a reasonable basis upon which to estimate the expected term and the stock option grants are considered “plain vanilla” options. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant.
	The following table summarizes stock option transactions as issued under the Plans:
			Options			Number of			Average
			Available			Shares			Exercise Price
	Balances, December 31, 2013			124,824			239,606		$	3.36
	2014 Plan authorized			1,437,165
	Closed 2010 Plan			(123,523	)
	Granted			(926,384	)		926,384		$	7.15
	Forfeited			93,979			(93,979	)	$	6.75
	Balances, December 31, 2014			606,061			1,072,011		$	6.34
	Authorized			270,764
	Granted			(407,013	)		407,013		$	1.8
	Exercised						(2,083	)	$	5.76
	Forfeited			17,977			(17,977	)	$	4.94
	Balances, March 31, 2015			487,790			1,458,964		$	5.09
	Future stock-based compensation for unvested employee options granted and outstanding as of March 31, 2015 is approximately $0.9 million to be recognized over a remaining requisite service period of 3.6 years.
	The fair value of an equity award granted to a non-employee generally is determined in the same manner as an equity award granted to an employee. In most cases, the fair value of the equity securities granted is more reliably determinable than the fair value of the goods or services received. Stock-based compensation related to its grant of options to non-employees has not been material to date.
	2014 Employee Stock Purchase Plan
	Our board of directors and stockholders have adopted the 2014 Employee Stock Purchase Plan, or the ESPP. The ESPP has become effective, and our board of directors will implement commencement of offers thereunder in its discretion. A total of 139,839 shares of our common stock has been made available for sale under the ESPP. In addition, our ESPP provides for annual increases in the number of shares available for issuance under the plan on the first day of each year beginning in the year following the initial date that our board of directors authorizes commencement, equal to the least of:
		•		1.0% of the outstanding shares of our common stock on the first day of such year;
		•		279,680 shares; or
		•		such amount as determined by our board of directors.
	As of March 31, 2015 there were no purchases by employees under this plan.
	Common Stock Warrants
	As of March 31, 2015, the Company had 480,147 Common Stock warrants outstanding from the 2010/2012 convertible notes. During the first quarter of 2015, 43,720 common stock warrants were cashless exercised resulting in the issuance of 13,407 shares of the Company’s Common Stock. The Company also has outstanding 9,259 Common Stock warrants from 2009 and 82,500 Common Stock warrants issued to the underwriter in our IPO.

Net_loss_per_share

Net loss per share	3 Months Ended
	Mar. 31, 2015
Net loss per share	Note 10. Net loss per share
	Basic net loss per share is computed by dividing net loss by the weighted-average number of common stock actually outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common stock outstanding and dilutive potential common stock that would be issued upon the conversion of preferred stock. For the three months ended March 31, 2014 and 2015, the effect of issuing the potential common stock is anti-dilutive due to the net losses in those periods and the number of shares used to compute basic and diluted earnings per share are the same for each of those periods.
	The following is a reconciliation of the number of shares used in the calculation of basic earnings per share and diluted earnings per share during the three months ended March 31, 2014 and 2015 (in thousands, except per share and share data):
		Three Months Ended
		March 31,
		2014			2015
	Net loss	$	(834	)	$	(11,651	)
	Weighted-average shares used in computing basic and diluted net loss per common share		535,685			6,965,483
	Basic and diluted net loss per common share	$	(1.56	)	$	(1.67	)
	The following potentially dilutive securities outstanding have been excluded from the computations of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported (in common stock equivalent shares):
		Three Months Ended March 31,
		2015			2014
	Convertible preferred stock		—			865,429
	Warrants issued to 2010/2012 convertible note holders to purchase common stock		480,147			523,867
	Options to purchase common stock		1,458,964			228,223
	Warrants issued in 2009 to purchase common stock		9,259			9,259
	Warrants issued to underwriter to purchase common stock		82,500			—
	Series A warrants to purchase common stock		2,425,605			—
	Series B warrants to purchase common stock		1,778,275			—
	Series C warrants to purchase common stock		589,510			—

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events	Note 11. Subsequent Events
	On April 1, 2015 the Company filed a registration statement on Form S-4 with the SEC to launch a formal tender/registered exchange offer to provide those holders of Series B Warrants that were not contacted pursuant to the Private Transaction, that was completed on March 5, 2015, the same opportunity to exercise such warrants for their cash exercise price and receive the same Series C Warrants, with an exercise price of $6.25 and a term of 5 years.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Basis of Presentation	Basis of Presentation
	The accompanying condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The condensed balance sheet at December 31, 2014 has been derived from the audited financial statements at that date, but does not include all disclosures, including notes, required by GAAP for complete financial statements.
	The unaudited interim condensed financial statements have been prepared on the same basis as the audited financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to present fairly its financial position as of March 31, 2015 and results of its operations and comprehensive loss for the three months ended March 31, 2015 and 2014, and cash flows for the three months ended March 31, 2015 and 2014. The interim results are not necessarily indicative of the results for any future interim period or for the entire year. Certain prior period amounts have been reclassified to conform to current period presentation.
	The accompanying condensed financial statements and related financial information should be read in conjunction with the audited financial statements and the related notes thereto for the year ended December 31, 2014 included in the Company’s Form 10-K.
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with 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 expenses in the financial statements and accompanying notes. Actual results could differ from those estimates. Key estimates included in the financial statements include the valuation of deferred income tax assets and the valuation of debt and equity instruments and stock-based compensation.
Concentration of Credit Risk	Concentration of Credit Risk
	Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents at two commercial banks that management believes are of high credit quality. Cash and cash equivalents deposited with these commercial banks exceeded the Federal Deposit Insurance Corporation insurable limit at March 31, 2015 and December 31, 2014. The Company expects this to continue.
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid investments, including its money market fund, purchased with an original maturity of three months or less to be cash equivalents. The Company’s cash and cash equivalents are held in institutions in the U.S. and include deposits in a money market fund which was unrestricted as to withdrawal or use. As of December 31, 2014 and March 31, 2015, the balance of the money market fund was $7.9 million and $6.5 million, respectively.
Inventory	Inventory
	Inventory as of December 31, 2014 consist of raw materials to be used in the manufacture of CoSense monitors and single-use nasal cannulas. Inventory is stated at the lower of cost or market under the first-in, first-out (FIFO) method. As of March 31, 2015, the Company’s inventory includes approximately $110 thousand of raw material, $61 thousand of work-in-process and $35 thousand in finished goods.
Revenue Recognition	Revenue Recognition
	The Company began recognizing sales of CoSense during the three months ended March 31, 2015. The Company recognizes revenue when all of the following criteria are met:
		•	persuasive evidence of an arrangement exists;
		•	the sales price is fixed or determinable;
		•	collection of the relevant receivable is probable at the time of sale; and
		•	delivery has occurred or services have been rendered.
	For a majority of sales, where the Company delivers its product to hospitals or medical facilities, the Company recognizes revenue upon delivery, which represents satisfaction of the required revenue recognition criteria. The Company does not offer rights of return or price protection and it has no post-delivery obligations. The Company has a limited one-year warranty to most customers. Estimated warranty obligations are recorded at the time of sale and to date, warranty costs have been insignificant.
Research and Development	Research and Development
	Research and development costs are charged to operations as incurred. Research and development costs consist primarily of salaries and benefits, consultant fees, prototype expenses, certain facility costs and other costs associated with clinical trials, net of reimbursed amounts.
	Costs to acquire technologies to be used in research and development that have not reached technological feasibility and have no alternative future use are expensed to research and development costs when incurred.
Common Stock Purchase Warrants and Other Derivative Financial Instruments	Common Stock Purchase Warrants and Other Derivative Financial Instruments
	The Company classifies common stock purchase warrants and other free standing derivative financial instruments as equity if the contracts (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the control of the Company), (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement), or (iii) contain reset provisions as either an asset or a liability. The Company assesses classification of its freestanding derivatives at each reporting date to determine whether a change in classification between assets and liabilities is required. The Company determined that certain freestanding derivatives, which principally consist of Series A, Series B, and Series C warrants to purchase common stock, do not satisfy the criteria for classification as equity instruments due to the existence of certain cash settlement features that are not within the sole control of the Company or variable settlement provision that cause them to not be indexed to the Company’s own stock.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.
	On June 10, 2014, the FASB issued ASU 2014-10, Elimination of Certain Financial Reporting Requirements, Including Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. The pending content resulting from the issuance of ASU 2014-10 eliminates the definition of development stage entity, thereby removing the distinction between the development stage entities and other reporting entities. As a consequence, inception-to-date presentation and other incremental disclosure requirements in ASC Topic 915 for entities previously considered development stage entities are eliminated. For public business entities, the ASU’s elimination of the inception-to-date information and the other disclosures in Topic 915 is effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. For other entities, this portion of the ASU is effective for annual reporting periods beginning after December 15, 2014, and interim reporting periods beginning after December 15, 2015. While the changes resulting from the issuance of ASU 2014-10 are not yet effective, early adoption of either the amendments to Topic 915 or Topic 810 is permitted for any annual or interim period for which a reporting entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities.)
	The Company adopted ASU 2014-10 as of June 30, 2014, and therefore is no longer considered in the development stage. The Company continues to engage in research and development activities; however, the adoption of this ASU allows the Company to remove the inception to date information and all references to development stage in the accompanying financial statements.
	The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements.

Revision_of_Prior_Year_Financi1

Revision of Prior Year Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2015
Revised Prior Period Balances	The following table sets forth the revised prior period balances reported in our our comparative financial statements as if adjustments had been made:
	(in thousands except per share data)	Previously			Adjustment			Revised
		reported
	Balance sheet items at December 31, 2014:
	Current liabilities	$	1,290		$	—		$	1,290
	Series A warrant liability		—			857			857
	Series B warrant liability		17,439			—			17,439
	Total liabilities		18,729			857			19,586
	Additional paid-in capital		60,636			(1,494	)		59,141
	Accumulated deficit		(70,975	)		637			(70,338	)
	Total stockholders’ deficit		(10,333	)		(857	)		(11,190	)
	Liabilities and stockholders’ deficit	$	8,396		$	—		$	8,396
	Statement of operations items for the year ended December 31, 2014
	Other income (expense)	$	(4,585	)	$	637		$	(3,949	)
	Net loss	$	(13,875	)	$	637			(13,238	)
	Basic and diluted net loss per common share	$	(10.92	)	$	0.5			(10.42	)

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Financial Instruments Measured at Fair Value on 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):
		Fair Value Measurements at December 31, 2014 (revised)
		Total			Level 1			Level 2			Level 3
	Assets
	Money market fund	$	7,892		$	7,892		$	—		$	—
	Liabilities
	Series A warrant liability	$	857		$	857		$	—		$	—
	Series B warrant liability		17,439			—			—			17,439
	Total common stock warrant liability	$	18,296		$	857		$	—		$	17,439
		Fair Value Measurements at March 31, 2015
		Total			Level 1			Level 2			Level 3
	Assets
	Money market fund	$	6,472		$	6,472		$	—		$	—
	Liabilities
	Series A warrant liability		3,582			3,582			—			—
	Series B warrant liability		14,180			—			—			14,180
	Series C warrant liability		2,549			—			—			2,549
	Total common stock warrant liability	$	20,311		$	3,582		$	—		$	16,729
Summary of Changes in Fair Value of Level1 and Level 3 Financial Instruments	The following table sets forth a summary of the changes in the fair value of the Company’s Level 1 and Level 3 financial instruments, which are treated as liabilities, as follows:
		Series A Warrant						Series B Warrant						Series C Warrant
		Number of			Liability			Number of			Liability			Number of		Liability
		Warrants						Warrants						Warrants
					(in thousands)						(in thousands)					(in thousands)
	Balance at December 31, 2014 (revised)		2,449,605		$	857			2,449,605		$	17,439			—	$	—
	Change in value of Series A Warrants		—			2,767			—			—			—		—
	De-recognition of Series A Warrant liability upon exercise		(24,000	)		(42	)		—			—			—		—
	De-recognition of Series B Warrant liability upon cash exercise of 589,510 warrants in Private Transaction (589,510 shares issued)		—			—			(589,510	)		(6,430	)		—		—
	De-recognition of Series B Warrant liability for other cash exercises of 29,097 warrants (29,097 shares issued)		—			—			(29,097	)		(317	)		—		—
	De-recognition of Series B Warrant liability upon cashless exercise of 52,255 warrants (21,186 shares issued)		—			—			(52,255	)		(418	)		—		—
	De-recognition of Series B Warrant liability upon contribution of 468 warrants back to the Company		—			—			(468	)		(3	)		—		—
	Change in value of Series B Warrants		—			—			—			3,909			—		—
	Record Series C Warrant Liability		—			—			—			—			589,510		3,050
	Change in value of Series C Warrants		—			—			—			—			—		(501	)
	Balance at March 31, 2015		2,425,605		$	3,582			1,778,275		$	14,180			589,510	$	2,549

Warrant_Liabilities_Tables

Warrant Liabilities (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Outstanding Series B Warrants and Fair Market Values	As of December 31, 2014 and March 31, 2015 the outstanding Series B Warrants and fair market values were:
	Issuance date	Contractual			Exercise price			Shares		Number of		Fair Value at		Number of		Fair Value at
		Term			per share			Underlying		Warrants at		December 31, 2014		Warrants at		March 31, 2015
								warrants		December 31, 2014		(in thousands)		March 31, 2015		(in thousands)
	Nov-14		15 months		$	6.5			Adjustable		2,449,605	$	17,439		1,778,275	$	14,180
Series B Warrant liability [Member]
Fair Value of Convertible Preferred Stock Warrant Liability	As December 31, 2014, and March 31, 2015 the Company used a Monte Carlo simulation to calculate the fair value of its Series B Warrant liability. This model is dependent upon several variables such as the warrant’s term, exercise price, current stock price, risk-free interest rate estimated over the contractual term, estimated volatility of our stock over the term of warrant and the estimated market price of our stock during the cashless exercise period. The risk-free rate is based on U.S. Treasury securities with similar maturities as the expected terms of the warrants. The volatility is estimated based on blending the volatility rates for a number of similar publicly-traded companies. The Company used the following inputs:
		December 31,			March 31,
		2014			2015
	Volatility		86.6	%		100	%
	Expected Term (years)		1.1			0.87
	Expected dividend yield		0	%		0	%
	Risk-free rate		0.26	%		0.26	%
Series C Warrant liability [Member]
Fair Value of Convertible Preferred Stock Warrant Liability	The Company has calculated the fair value of the Series C warrants using a Black-Scholes pricing model, which requires the input of highly subjective assumptions including the expected stock price volatility. The Company used the following inputs:
		March 4,			March 31,
		2015			2015
	Volatility		86	%		86	%
	Expected Term (years)		5			4.93
	Expected dividend yield		0	%		0	%
	Risk-free rate		1.37	%		1.35	%

Stockholders_Deficit_Tables

Stockholders' Deficit (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Stock Based Compensation Expense	Stock compensation expense was allocated between departments as follows (in thousands):
		Three Months Ended March 31,
		2014			2015
	Research and development	$	9		$	50
	Sales and marketing		—			20
	General and administrative		2			331
	Total	$	11		$	401
Schedule of Fair Value of Award Granted Using Black-Scholes Option Pricing Model	The fair value of each award granted was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:
		Three Months Ended March 31,
		2014		2015
	Expected life (years)	5.8 - 6.1		5.5 - 6.1
	Risk-free interest rate	1.6% - 1.8%		1.5% - 1.6%
	Volatility	62% - 80%		57% - 68%
	Dividend rate	0%		0%
Summary of Stock Option Transactions	The following table summarizes stock option transactions as issued under the Plans:
		Options			Number of			Average
		Available			Shares			Exercise Price
	Balances, December 31, 2013		124,824			239,606		$	3.36
	2014 Plan authorized		1,437,165
	Closed 2010 Plan		(123,523	)
	Granted		(926,384	)		926,384		$	7.15
	Forfeited		93,979			(93,979	)	$	6.75
	Balances, December 31, 2014		606,061			1,072,011		$	6.34
	Authorized		270,764
	Granted		(407,013	)		407,013		$	1.8
	Exercised					(2,083	)	$	5.76
	Forfeited		17,977			(17,977	)	$	4.94
	Balances, March 31, 2015		487,790			1,458,964		$	5.09

Net_loss_per_share_Tables

Net loss per share (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Calculation of Basic Earnings per Share and Diluted Earnings per Share	The following is a reconciliation of the number of shares used in the calculation of basic earnings per share and diluted earnings per share during the three months ended March 31, 2014 and 2015 (in thousands, except per share and share data):
		Three Months Ended
		March 31,
		2014			2015
	Net loss	$	(834	)	$	(11,651	)
	Weighted-average shares used in computing basic and diluted net loss per common share		535,685			6,965,483
	Basic and diluted net loss per common share	$	(1.56	)	$	(1.67	)
Schedule of Potentially Dilutive Securities Outstanding Excluded from Computations of Diluted Weighted-Average Shares Outstanding	The following potentially dilutive securities outstanding have been excluded from the computations of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported (in common stock equivalent shares):
		Three Months Ended March 31,
		2015			2014
	Convertible preferred stock		—			865,429
	Warrants issued to 2010/2012 convertible note holders to purchase common stock		480,147			523,867
	Options to purchase common stock		1,458,964			228,223
	Warrants issued in 2009 to purchase common stock		9,259			9,259
	Warrants issued to underwriter to purchase common stock		82,500			—
	Series A warrants to purchase common stock		2,425,605			—
	Series B warrants to purchase common stock		1,778,275			—
	Series C warrants to purchase common stock		589,510			—

Description_of_Business_Additi

Description of Business - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015
Description Of Business [Line Items]
State of incorporation	Delaware
Date of incorporation	25-Aug-99

Liquidity_Financial_Condition_1

Liquidity, Financial Condition and Management's Plans - Additional Information (Detail) (USD $)	3 Months Ended		12 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Mar. 05, 2015	Mar. 06, 2015	Nov. 18, 2014
Liquidity And Managements Plans [Line Items]
Accumulated deficit	($81,989,000)		($70,338,000)
Non-cash charges relating to the fair value of derivative liabilities	-9,200,000
Stock based compensation	401,000	11,000
Working capital	9,000,000
Net cash used in operating activities	-1,809,000	-509,000
Net loss	-11,651,000	-834,000	-13,238,000
Proceeds from exercise of stock options	12,000
Private Placement Series B Warrants [Member]
Liquidity And Managements Plans [Line Items]
Proceed from Exercise of warrants to purchase of common stock	3,832,000			3,800,000
Series A Warrant liability [Member]
Liquidity And Managements Plans [Line Items]
Proceed from Exercise of warrants to purchase of common stock	156,000				200,000
IPO [Member] | Units [Member]
Liquidity And Managements Plans [Line Items]
Description of units issued	1,650,000 units, each of which consisted of one share of common stock, one Series A Warrant and one Series B Warrant.
Number of shares issued						1,650,000
Offering price per unit						$6.50
Net proceeds after deducting underwriting discounts and commissions and IPO related expenses						$8,000,000

Summary_of_Significant_Account2

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Schedule Of Significant Accounting Policies [Line Items]
Money market fund	$6,500,000	$7,900,000
Inventory, raw material	110,000
Inventory, work-in-process	61,000
Inventory, finished goods	$35,000

Revision_of_Prior_Year_Financi2

Revision of Prior Year Financial Statements - Schedule of Revised Prior Period Balances (Detail) (USD $)	3 Months Ended		12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Current liabilities	$1,059		$1,290
Total liabilities	21,370		19,586
Additional paid-in capital	70,679		59,141
Accumulated deficit	-81,989		-70,338
Total stockholders' deficit	-11,303		-11,190
Liabilities and stockholders' deficit	10,067		8,396
Other income (expense)		-8	-3,949
Net loss	-11,651	-834	-13,238
Basic and diluted net loss per common share	($1.67)	($1.56)	($10.42)
Series A Warrant liability [Member]
Warrant liability	3,582		857
Series B Warrant liability [Member]
Warrant liability	14,180		17,439
Previously reported [Member]
Current liabilities			1,290
Total liabilities			18,729
Additional paid-in capital			60,636
Accumulated deficit			-70,975
Total stockholders' deficit			-10,333
Liabilities and stockholders' deficit			8,396
Other income (expense)			-4,585
Net loss			-13,875
Basic and diluted net loss per common share			($10.92)
Previously reported [Member] | Series B Warrant liability [Member]
Warrant liability			17,439
Adjustment [Member]
Total liabilities			857
Additional paid-in capital			-1,494
Accumulated deficit			637
Total stockholders' deficit			-857
Other income (expense)			637
Net loss			637
Basic and diluted net loss per common share			$0.50
Adjustment [Member] | Series A Warrant liability [Member]
Warrant liability			$857

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Series A Warrant liability [Member]
Liabilities
Warrant liability	$3,582	$857
Series B Warrant liability [Member]
Liabilities
Warrant liability	14,180	17,439
Series C Warrant liability [Member]
Liabilities
Warrant liability	2,549
Fair Value, Measurements, Recurring [Member] | Convertible preferred stock warrant liability [Member]
Liabilities
Warrant liability	20,311	18,296
Fair Value, Measurements, Recurring [Member] | Convertible preferred stock warrant liability [Member] | Series A Warrant liability [Member]
Liabilities
Warrant liability	3,582	857
Fair Value, Measurements, Recurring [Member] | Convertible preferred stock warrant liability [Member] | Series B Warrant liability [Member]
Liabilities
Warrant liability	14,180	17,439
Fair Value, Measurements, Recurring [Member] | Convertible preferred stock warrant liability [Member] | Series C Warrant liability [Member]
Liabilities
Warrant liability	2,549
Fair Value, Measurements, Recurring [Member] | Money market fund [Member]
Assets
Cash and cash equivalents	6,472	7,892
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Convertible preferred stock warrant liability [Member]
Liabilities
Warrant liability	3,582	857
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Convertible preferred stock warrant liability [Member] | Series A Warrant liability [Member]
Liabilities
Warrant liability	3,582	857
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Money market fund [Member]
Assets
Cash and cash equivalents	6,472	7,892
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Convertible preferred stock warrant liability [Member]
Liabilities
Warrant liability	16,729	17,439
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Convertible preferred stock warrant liability [Member] | Series B Warrant liability [Member]
Liabilities
Warrant liability	14,180	17,439
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Convertible preferred stock warrant liability [Member] | Series C Warrant liability [Member]
Liabilities
Warrant liability	$2,549

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments - Summary of Changes in Fair Value of Level1 and Level 3 Financial Instruments (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 05, 2015
Series A Warrant liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, in shares	-24,000
Balance at the end of period, in shares	2,425,605
Series A Warrant liability [Member] | Common stock warrant liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at the beginning of period, in shares	2,449,605
De-recognition of Warrant liability upon exercise, in shares	-24,000
Balance at the end of period, in shares	2,425,605
Balance at the beginning of period	$857
Change in value of Warrant	2,767
De-recognition of Warrant liability upon exercise	-42
Balance at end of period	3,582
Series B Warrant liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, in shares		-589,510
Balance at the end of period, in shares	1,778,275
Series B Warrant liability [Member] | Common stock warrant liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at the beginning of period, in shares	2,449,605
Balance at the end of period, in shares	1,778,275
Balance at the beginning of period	17,439
Change in value of Warrant	3,909
Balance at end of period	14,180
Series B Warrant liability [Member] | Common stock warrant liability [Member] | Cash Exercise [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, in shares	-589,510
De-recognition of Warrant liability upon exercise	-6,430
Series B Warrant liability [Member] | Common stock warrant liability [Member] | Other Cash Exercise [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, in shares	-29,097
De-recognition of Warrant liability upon exercise	-317
Series B Warrant liability [Member] | Common stock warrant liability [Member] | Cash Less Exercise [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, in shares	-52,255
De-recognition of Warrant liability upon exercise	-418
Series B Warrant liability [Member] | Common stock warrant liability [Member] | Warrants contributed back to the company [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, in shares	-468
De-recognition of Warrant liability upon exercise	-3
Series C Warrant liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Record Series C Warrant Liability		589,510
Series C Warrant liability [Member] | Common stock warrant liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Record Series C Warrant Liability	589,510
Balance at the end of period, in shares	589,510
Change in value of Warrant	-501
Record Series C Warrant Liability	3,050
Balance at end of period	$2,549

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments - Summary of Changes in Fair Value of Level1 and Level 3 Financial Instruments (Parenthetical) (Detail) (Common stock warrant liability [Member], Series B Warrant liability [Member])	3 Months Ended
	Mar. 31, 2015
Cash Exercise [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, shares issued	589,510
Other Cash Exercise [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, shares issued	29,097
Cash Less Exercise [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
De-recognition of Warrant liability upon exercise, shares issued	21,186

Warrant_Liabilities_Additional

Warrant Liabilities - Additional Information (Detail) (USD $)	3 Months Ended		0 Months Ended	11 Months Ended	0 Months Ended	1 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 06, 2015	Feb. 12, 2016	Mar. 05, 2015	Mar. 31, 2015	Nov. 18, 2014
Class of Warrant or Right [Line Items]
Registration statements description	The Company is required to comply with certain requirement to maintain the effectiveness of a registration statement for the offer and sale of these securities. The Warrant contracts further provide for the payment of liquidated damages at an amount per month equal to 1% of the aggregate VWAP of the shares into which each Warrant is convertible into in the event that the Company is unable to maintain the effectiveness of a registration
Change in fair value of warrants recorded as other (income) expense	$6,174	($246)
Series A Warrants to Purchase Shares of Common Stock [Member] | IPO [Member]
Class of Warrant or Right [Line Items]
Number of common stock purchased upon issuance of warrants							2,449,605
Exercise price of warrants exercised							$6.50
Warrants term	5 years
Series A Warrant liability [Member]
Class of Warrant or Right [Line Items]
Warrants exercised	24,000					24,000
Warrants outstanding	2,425,605					2,425,605
Fair value of warrants outstanding	3,600					3,600
Change in fair value of warrants recorded as other (income) expense	-2,800
Gross proceeds upon exercise of warrants	156		200
Series B Warrants to Purchase Shares of Common Stock [Member]
Class of Warrant or Right [Line Items]
Number of common stock purchased upon issuance of warrants	2,449,605					2,449,605
Series B Warrants to Purchase Shares of Common Stock [Member] | Scenario Forecast [Member]
Class of Warrant or Right [Line Items]
Decrease in common stock market price				$6.50
Series B Warrant liability [Member]
Class of Warrant or Right [Line Items]
Exercise price of warrants exercised					$6.50
Warrants exercised					589,510
Warrants outstanding	1,778,275					1,778,275
Fair value of warrants outstanding					6,700
Change in fair value of warrants recorded as other (income) expense	-1,500				-2,300
Warrants cashless exercised	52,255
Gross proceeds upon exercise of warrants					3,800
Series C Warrant liability [Member]
Class of Warrant or Right [Line Items]
Number of common stock purchased upon issuance of warrants					589,510
Exercise price of warrants exercised					$6.25
Warrants term					5 years
Fair value of warrants outstanding	2,500				3,000	2,500
Change in fair value of warrants recorded as other (income) expense					($3,000)	$500
Warrants expiry date					5-Mar-20

Warrant_Liabilities_Fair_Value

Warrant Liabilities - Fair Value of Convertible Preferred Stock Warrant Liability (Detail)	0 Months Ended
	Mar. 31, 2015	Mar. 04, 2015	Dec. 31, 2014
Series C Warrant liability [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Volatility	86.00%	86.00%
Expected Term (years)	4 years 11 months 5 days	5 years
Expected dividend yield	0.00%	0.00%
Risk-free rate	1.35%	1.37%
Series B Warrant liability [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Volatility	100.00%		86.60%
Expected Term (years)	10 months 13 days		1 year 1 month 6 days
Expected dividend yield	0.00%		0.00%
Risk-free rate	0.26%		0.26%

Warrant_Liabilities_Summary_of

Warrant Liabilities - Summary of Outstanding Series B Warrants and Fair Market Values (Detail) (Issuance Date November 2014 [Member], USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Issuance Date November 2014 [Member]
Class of Warrant or Right [Line Items]
Series B warrants, Exercise price per share	$6.50
Series B warrants, Contractual Term	15 months
Series B warrants, Number of warrants	1,778,275	2,449,605
Series B warrants, Fair value	$14,180	$17,439

Credit_Facility_Additional_Inf

Credit Facility - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Oct. 31, 2014	Sep. 29, 2014
Line of Credit Facility [Line Items]
Line of credit amount			$100,000
Line of credit, fixed interest rate per annum	6.00%
Line of credit, interest rate description	The line of credit bears a fixed interest rate of 6.0% per annum simple interest.
Line of credit, repayment term	2 years
Line of credit facility, initiation date	29-Sep-14
Amount of line of credit		100,000
Repayment of line of credit	$102,000

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2010	Feb. 02, 2015	Dec. 31, 2014
Loss Contingencies [Line Items]
Non-cancelable operating lease agreement expiration date	2015-05
Future minimum commitment under non-cancelable operating lease						$22,000	$18,000
Lease expiration extended date	2018-06
Lease payment, description	The amendment provides for monthly lease payments of $22,000 beginning in June 2015, with modest increases in the following two years.
Rent expense	62,000	57,000
BioMedical Drug Development, Inc. [Member] | Milestone Payments [Member]
Loss Contingencies [Line Items]
Development and sales-related milestone payments, maximum	200,000
Payments made and liabilities incurred under asset purchase agreement			0	0
Outstanding payments	0						0
Intellectual property [Member] | BioMedical Drug Development, Inc. [Member]
Loss Contingencies [Line Items]
Acquisition of intellectual property					$150,000

Stockholders_Deficit_Stock_Opt

Stockholders' Deficit - Stock Option Plan - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$401,000	$11,000
Future stock-based compensation for unvested employee options granted and outstanding	900,000
Annual increases in the number of shares available for issuance , percentage of outstanding common stock	1.00%
Purchases by employees under ESPP	0
Warrants to Purchase Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants cashless exercised	43,720
Issuance of shares upon cashless exercise warrants	13,407
Warrants to Purchase Stock [Member] | 2010 and 2012 Convertible Promissory Notes [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants outstanding	480,147
Issuance Date January 2009 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants outstanding	9,259
Underwriter [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants outstanding	82,500
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for sale under the ESPP	139,839
Annual increases in the number of shares available for issuance, number of shares	279,680
NSO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of fair market value	85.00%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option compensation, description	For individuals holding more than 10% of the voting rights of all classes of stock, the exercise price of an option will not be less than 110% of fair value.
Vesting period	4 years
Stock-based compensation expense	401,000	11,000
Income tax benefits recognized from stock-based compensation	$0	$0
Future stock-based compensation, requisite service period	3 years 7 months 6 days
Shares available for sale under the ESPP	487,790		606,061	124,824
Annual increases in the number of shares available for issuance, number of shares	270,764
Minimum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of fair market value	110.00%
Maximum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of option	10 years
Maximum [Member] | ISOs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of option	5 years

Stockholders_Deficit_Summary_o

Stockholders' Deficit - Summary of Stock Based Compensation Expense (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation expense	$401	$11
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation expense	50	9
Sales and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation expense	20
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation expense	$331	$2

Stockholders_Deficit_Schedule_

Stockholders' Deficit - Schedule of Fair Value of Award Granted Using Black-Scholes Option Pricing Model (Detail) (Stock Options [Member])	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	1.50%	1.60%
Risk-free interest rate, maximum	1.60%	1.80%
Volatility, minimum	57.00%	62.00%
Volatility, maximum	68.00%	80.00%
Dividend rate	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	5 years 6 months	5 years 9 months 18 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	6 years 1 month 6 days	6 years 1 month 6 days

Stockholders_Deficit_Summary_o1

Stockholders' Deficit - Summary of Stock Option Transactions (Detail) (Stock Options [Member], USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Available, Beginning balance	606,061	124,824
Options Available, Authorized	270,764
Options Available, Granted	-407,013	-926,384
Options Available, Forfeited	17,977	93,979
Options Available, Ending balance	487,790	606,061
Number of Shares, Outstanding, Beginning balance	1,072,011	239,606
Number of Shares, Granted	407,013	926,384
Number of Shares, Exercised	-2,083
Number of Shares, Forfeited	-17,977	-93,979
Number of Shares, Outstanding, Ending balance	1,458,964	1,072,011
Average Exercise Price, Beginning balance	$6.34	$3.36
Average Exercise Price, Granted	$1.80	$7.15
Average Exercise Price, Exercised	$5.76
Average Exercise Price, Forfeited	$4.94	$6.75
Average Exercise Price, Ending balance	$5.09	$6.34
2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Available, Authorized		1,437,165
Closed 2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Available, Expired		-123,523

Net_Loss_per_Share_Schedule_of

Net Loss per Share - Schedule of Calculation of Basic Earnings per Share and Diluted Earnings per Share (Detail) (USD $)	3 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net loss	($11,651)	($834)	($13,238)
Weighted-average shares used in computing basic and diluted net loss per common share	6,965,483	535,685
Basic and diluted net loss per common share	($1.67)	($1.56)	($10.42)

Net_Loss_per_Share_Schedule_of1

Net Loss per Share - Schedule of Potentially Dilutive Securities Outstanding Excluded from Computations of Diluted Weighted-Average Shares Outstanding (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computations of diluted weighted-average shares outstanding		865,429
Options to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computations of diluted weighted-average shares outstanding	1,458,964	228,223
Warrants to Purchase Stock [Member] | 2010 and 2012 Convertible Promissory Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computations of diluted weighted-average shares outstanding	480,147	523,867
Issuance Date January 2009 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computations of diluted weighted-average shares outstanding	9,259	9,259
Underwriter [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computations of diluted weighted-average shares outstanding	82,500
Series A Warrants to Purchase Shares of Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computations of diluted weighted-average shares outstanding	2,425,605
Series B Warrants to Purchase Shares of Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computations of diluted weighted-average shares outstanding	1,778,275
Series C Warrant To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computations of diluted weighted-average shares outstanding	589,510

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 05, 2015	Apr. 01, 2015
Series B Warrant liability [Member]
Subsequent Event [Line Items]
Exercise price of warrants exercised		$6.50
Warrants cashless exercised	52,255
Series C Warrant liability [Member]
Subsequent Event [Line Items]
Exercise price of warrants exercised		$6.25
Warrants term		5 years
Subsequent event [Member] | Series B Warrant liability [Member]
Subsequent Event [Line Items]
Warrants cashless exercised			161,320
Subsequent event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Issuance of shares upon cashless exercise warrants			63,095