Phio Pharmaceuticals (PHIO) 10-Q 10 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 04, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	RXII
Entity Registrant Name	RXi Pharmaceuticals Corp
Entity Central Index Key	1,533,040
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		23,247,338

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 7,702	$ 12,906
Restricted cash	50	50
Prepaid expenses	337	150
Total current assets	8,089	13,106
Property and equipment, net	275	114
Notes receivable		150
Other assets	27	27
Total assets	8,391	13,397
Current liabilities:
Accounts payable	741	917
Accrued expenses	1,713	1,625
Total current liabilities	2,454	2,542
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value
Common stock, $0.0001 par value, 100,000,000 shares authorized; 23,246,218 and 13,003,179 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	2	1
Additional paid-in capital	80,008	73,428
Accumulated deficit	(74,073)	(66,099)
Total stockholders' equity	5,937	10,855
Total liabilities and stockholders' equity	8,391	13,397
Series B Convertible Preferred Stock [Member]
Stockholders' equity:
Preferred stock, par value		$ 3,525
Series C Convertible Preferred Stock [Member]
Stockholders' equity:
Preferred stock, par value	$ 0

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	23,246,218	13,003,179
Common stock, shares outstanding	23,246,218	13,003,179
Series B Convertible Preferred Stock [Member]
Preferred stock, shares authorized		8,100
Preferred Stock, shares issued	0	5,737
Preferred Stock, shares outstanding	0	5,737
Series C Convertible Preferred Stock [Member]
Preferred stock, shares authorized	1,800,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Net revenues		$ 9		$ 19
Operating expenses:
Research and development	$ 1,329	1,339	$ 2,676	2,644
Acquired in-process research and development	85		3,075
General and administrative	1,100	885	2,223	1,835
Total operating expenses	2,514	2,224	7,974	4,479
Operating loss	(2,514)	(2,215)	(7,974)	(4,460)
Other income (expense):
Interest income, net		4		11
Other income (expense), net		(1)		6
Total other income		3		17
Net loss	$ (2,514)	$ (2,212)	$ (7,974)	$ (4,443)
Net loss per common share:
Basic and diluted	$ (0.11)	$ (0.34)	$ (0.37)	$ (0.68)
Weighted average common shares: basic and diluted	22,388,360	6,534,846	21,484,772	6,534,846

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (7,974)	$ (4,443)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	27	28
Non-cash stock-based compensation	233	521
Acquired in-process research and development	3,075
Value of non-marketable equity securities recognized as revenue		(9)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(187)	(166)
Accounts payable	(378)	(866)
Accrued expenses	88	150
Net cash used in operating activities	(5,116)	(4,785)
Cash flows from investing activities:
Purchase of short-term investments		(2,000)
Maturities of short-term investments		5,500
Cash acquired in MirImmune Inc. acquisition	100
Cash paid for purchase of property and equipment	(188)
Net cash (used in) provided by investing activities	(88)	3,500
Net decrease in cash, cash equivalents and restricted cash	(5,204)	(1,285)
Cash, cash equivalents and restricted cash at the beginning of period	12,956	5,167
Cash, cash equivalents and restricted cash at the end of period	7,752	$ 3,882
Supplemental disclosure of non-cash investing and financing activities:
Cancellation of notes receivable with the acquisition of MirImmune Inc.	150
Accounts payable assumed with the acquisition of MirImmune Inc.	5
Fair value of securities issued in connection with the acquisition of MirImmune Inc.	2,824
Series B Convertible Preferred Stock [Member]
Supplemental disclosure of non-cash investing and financing activities:
Conversions of convertible preferred stock into common stock	3,525
Series C Convertible Preferred Stock [Member]
Supplemental disclosure of non-cash investing and financing activities:
Conversions of convertible preferred stock into common stock	$ 816

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations RXi Pharmaceuticals Corporation (“ RXi we our Company (sd-rxRNA ® RXI-109, sd-rxRNA

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“ GAAP year-end Uses of Estimates in Preparation of Financial Statements The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of amounts invested in certificates of deposit. Restricted cash consists of certificates of deposit held by financial institutions as collateral for the Company’s corporate credit cards. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows (in thousands): June 30, December 31, June 30, 2017 2016 2016 Cash and cash equivalents 7,702 12,906 3,832 Restricted cash 50 50 50 Cash, cash equivalents and restricted cash shown in the statement of cash flows 7,752 12,956 3,882 Research and Development Expenses Research and development costs are charged to expense as incurred and relate to salaries, employee benefits, facility-related expenses, supplies, stock-based compensation related to employees and non-employees Preclinical and clinical trial expenses relate to third-party services, subject-related fees at the sites where our clinical trials are being conducted, laboratory costs, analysis costs, toxicology studies and investigator fees. Costs associated with these expenses are generally payable on the passage of time or when certain milestones are achieved. Expense is recorded during the period incurred or in the period in which a milestone is achieved. In order to ensure that we have adequately provided for preclinical and clinical expenses during the proper period, we maintain an accrual to cover these expenses. These accruals are assessed on a quarterly basis and are based on such assumptions as expected total cost, the number of subjects and clinical trial sites and length of the study. Actual results may differ from these estimates and could have a material impact on our reported results. Our historical accrual estimates have not been materially different from our actual costs. Stock-based Compensation The Company follows the provisions of the Financial Accounting Standards Board (“ FASB ASC Compensation — Stock Compensation ASC 718 non-employee For stock options granted as consideration for services rendered by non-employees, 505-50, Equity Based Payments to Non-Employees Non-employee re-measured non-cash non-employees re-measurements Comprehensive Loss The Company’s comprehensive loss is equal to its net loss for all periods presented. Net Loss per Share The Company accounts for and discloses net loss per share in accordance with FASB ASC Topic 260, “ Earnings per Share.”

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	3. Recent Accounting Pronouncements In August 2016, the FASB issued Accounting Standards Update (“ ASU 2016-15, Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments 2016-15 2016-15 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) – Restricted Cash,” 2016-18 In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business 2017-01 MirImmune In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718) – Scope of Modification Accounting 2017-09

MirImmune Inc. Acquisition

MirImmune Inc. Acquisition	6 Months Ended
	Jun. 30, 2017
Research And Development Expense Abstract
MirImmune Inc. Acquisition	4. MirImmune Inc. Acquisition On January 6, 2017, the Company entered into a Stock Purchase Agreement (the “ Stock Purchase Agreement Series C Convertible Preferred Stock Upon the closing of the acquisition, the notes receivable outstanding on the Company’s balance sheet as of December 31, 2016 were canceled. The Company assessed the acquisition of MirImmune under FASB ASC Topic 805, “ Business Combinations ASC 805 in-process During the three months ended June 30, 2017, $85,000 of the fair value of consideration related to the holdback shares was recorded as in-process in-process The Company was restricted from converting any of the Series C Convertible Preferred Stock into common stock to the extent that such conversion was not approved by the Company’s stockholders in accordance with the stockholder approval requirements of NASDAQ Marketplace Rule 5635. On June 9, 2017, with the approval of the Company’s stockholders in accordance with the NASDAQ stockholder approval requirements, each share of the Series C Convertible Preferred Stock outstanding was automatically converted into one share of common stock, such that there were no shares of Series C Convertible Preferred Stock issued or outstanding at June 30, 2017. Under the terms of the Stock Purchase Agreement, if certain development or commercial milestones are achieved within two years, the Company will be required to either (i) issue a number of shares of common stock (the “ Milestone Shares The Company assessed the Milestone Shares under FASB ASC Topic 480, “ Distinguishing Liabilities from Equity ASC 480 in-process

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements The Company follows the provisions of FASB ASC Topic 820, “ Fair Value Measurements and Disclosures,” re-measured re-measured Level 1 — quoted prices in active markets for identical assets or liabilities. Level 2 — other significant observable inputs for the assets or liabilities through corroboration with market data at the measurement date. Level 3 — significant unobservable inputs that reflect management’s best estimate of what market participants would use to price the assets or liabilities at the measurement date. The warrant issued to the Company by Thera Neuropharma, Inc. (“ Thera Financial assets measured at fair value on a recurring basis are summarized as follows, in thousands: Description At June 30, 2017 Quoted Prices in Other Significant Significant Assets: Warrant in Thera $ 5 $ — $ — $ 5 Total $ 5 $ — $ — $ 5 Description At December 31, 2016 Quoted Prices in Other Significant Significant Assets: Warrant in Thera $ 5 $ — $ — $ 5 Total $ 5 $ — $ — $ 5 A reconciliation of the beginning and ending Level 3 assets for the six months ended June 30, 2017 is as follows (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Balance, beginning of period $ 5 Change in the warrant in Thera — Balance, end of period $ 5 Fair Value of Financial Instruments The carrying amounts reported in the balance sheet for cash equivalents, restricted cash and accounts payable approximate their fair values due to their short-term nature.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Stockholders' Equity	6. Stockholders’ Equity Series B Convertible Preferred Stock — Series B Convertible Preferred Stock Series C Convertible Preferred Stock — Series C Convertible Preferred Stock Certificate of Designation as-converted Upon its issuance, the Series C Convertible Preferred Stock was assessed under ASC 480. The Company determined that the Series C Convertible Preferred Stock was not within the scope of ASC 480 and therefore, the Series C Convertible Preferred Stock was not considered a liability. The Series C Convertible Preferred Stock was recorded in permanent equity on the Company’s balance sheet. The Series C Convertible Preferred Stock was then assessed under FASB ASC 815, “ Derivatives and Hedging ASC 815 Pursuant to the Stock Purchase Agreement, the Company acquired all of the issued and outstanding shares of capital stock of MirImmune for an aggregate of 2,750,371 shares of common stock of the Company and an aggregate of 1,118,224 shares of Series C Convertible Preferred Stock. The Company was restricted from converting any of the Series C Convertible Preferred Stock into common stock to the extent that such conversion was not approved by the Company’s stockholders in accordance with the stockholder approval requirements of NASDAQ Marketplace Rule 5635. On June 9, 2017, with the approval of the Company’s stockholders in accordance with the NASDAQ stockholder approval requirements, each share of the Series C Convertible Preferred Stock outstanding was automatically converted into one share of common stock, such that there were no shares of Series C Convertible Preferred Stock issued or outstanding at June 30, 2017. Please refer to Note 4 for further details on the shares issued in connection with the acquisition of MirImmune. Warrants — Exercise prices Number of Shares Expiration $5.20 1,300,002 June 2, 2020 $0.90 12,777,777 December 21, 2021 Total warrants outstanding 14,077,779 During the three months ended June 30, 2017, 462 of the Company’s outstanding warrants with an exercise price of $39.00 expired. No warrants were exercised during the three or six months ended June 30, 2017 or 2016.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	7. Stock-based Compensation The Company uses the Black-Scholes option-pricing model to determine the fair value of all its option grants. For valuing options granted during the three and six months ended June 30, 2017 and 2016, the following assumptions were used: For the Three Months Ended For the Six Months Ended 2017 2016 2017 2016 Risk-free interest rate 1.73 – 2.25 % N/A 1.73 – 2.49 % 1.18 – 2.02 % Expected volatility 82.99 – 115.18 % N/A 82.99 – 123.01 % 79.42 – 116.70 % Weighted average expected volatility 85.51 % N/A 84.63 % 88.64 % Expected lives (in years) 5.20 – 10.00 N/A 5.20 – 10.00 5.20 – 10.0 Expected dividend yield 0.00 % N/A 0.00 % 0.00 % The weighted average fair value of options granted during the three months ended June 30, 2017 was $0.47. There were no options granted during the three months ended June 30, 2016. The weighted average fair value of options granted during the six months ended June 30, 2017 and 2016 was $0.49 and $2.15, respectively. The risk-free interest rate used for each grant was based upon the yield on zero-coupon non-employees The following table summarizes the activity of Company’s stock option plan for the six months ended June 30, 2017: Total Number Weighted- Aggregate Balance at December 31, 2016 374,446 $ 27.29 Granted 328,384 0.69 Exercised — — Cancelled (25,379 ) 26.28 Balance at June 30, 2017 677,451 $ 14.43 $ — Exercisable at June 30, 2017 328,317 $ 28.15 $ — The Company recorded stock-based compensation expense for the three and six months ended June 30, 2017 and 2016 as follows, in thousands: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Research and development $ 40 $ 88 $ 73 $ 160 General and administrative 79 139 160 361 Total stock-based compensation $ 119 $ 227 $ 233 $ 521 Stock-based compensation expense for the three and six months ended June 30, 2017 includes $22,000, recorded in research and development expense, related to stock option modifications in connection with the retirement of the Company’s former Chief Development Officer.

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Net Loss per Share	8. Net Loss per Share The following table sets forth the potential common shares excluded from the calculation of net loss per common share because their inclusion would be anti-dilutive: June 30, 2017 2016 Options to purchase common stock 677,451 389,969 Warrants to purchase common stock 14,077,779 2,556,966 Total 14,755,230 2,946,935

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events On August 8, 2017, the Company entered into a purchase agreement (the “ Purchase Agreement LPC 30-month

Significant Accounting Polici15

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“ GAAP year-end
Uses of Estimates in Preparation of Financial Statements	Uses of Estimates in Preparation of Financial Statements The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of amounts invested in certificates of deposit. Restricted cash consists of certificates of deposit held by financial institutions as collateral for the Company’s corporate credit cards. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows (in thousands): June 30, December 31, June 30, 2017 2016 2016 Cash and cash equivalents 7,702 12,906 3,832 Restricted cash 50 50 50 Cash, cash equivalents and restricted cash shown in the statement of cash flows 7,752 12,956 3,882
Research and Development Expenses	Research and Development Expenses Research and development costs are charged to expense as incurred and relate to salaries, employee benefits, facility-related expenses, supplies, stock-based compensation related to employees and non-employees Preclinical and clinical trial expenses relate to third-party services, subject-related fees at the sites where our clinical trials are being conducted, laboratory costs, analysis costs, toxicology studies and investigator fees. Costs associated with these expenses are generally payable on the passage of time or when certain milestones are achieved. Expense is recorded during the period incurred or in the period in which a milestone is achieved. In order to ensure that we have adequately provided for preclinical and clinical expenses during the proper period, we maintain an accrual to cover these expenses. These accruals are assessed on a quarterly basis and are based on such assumptions as expected total cost, the number of subjects and clinical trial sites and length of the study. Actual results may differ from these estimates and could have a material impact on our reported results. Our historical accrual estimates have not been materially different from our actual costs.
Stock-based Compensation	Stock-based Compensation The Company follows the provisions of the Financial Accounting Standards Board (“ FASB ASC Compensation — Stock Compensation ASC 718 non-employee For stock options granted as consideration for services rendered by non-employees, 505-50, Equity Based Payments to Non-Employees Non-employee re-measured non-cash non-employees re-measurements
Comprehensive Loss	Comprehensive Loss The Company’s comprehensive loss is equal to its net loss for all periods presented.
Net Loss per Share	Net Loss per Share The Company accounts for and discloses net loss per share in accordance with FASB ASC Topic 260, “ Earnings per Share.”

Significant Accounting Polici16

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash Reported Within Balance Sheet	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows (in thousands): June 30, December 31, June 30, 2017 2016 2016 Cash and cash equivalents 7,702 12,906 3,832 Restricted cash 50 50 50 Cash, cash equivalents and restricted cash shown in the statement of cash flows 7,752 12,956 3,882

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Financial assets measured at fair value on a recurring basis are summarized as follows, in thousands: Description At June 30, 2017 Quoted Prices in Other Significant Significant Assets: Warrant in Thera $ 5 $ — $ — $ 5 Total $ 5 $ — $ — $ 5 Description At December 31, 2016 Quoted Prices in Other Significant Significant Assets: Warrant in Thera $ 5 $ — $ — $ 5 Total $ 5 $ — $ — $ 5
Schedule of Reconciliation of the Beginning and Ending Level 3 Assets	A reconciliation of the beginning and ending Level 3 assets for the six months ended June 30, 2017 is as follows (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Balance, beginning of period $ 5 Change in the warrant in Thera — Balance, end of period $ 5

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Summary of Warrants Outstanding	The following table summarizes the Company’s outstanding warrants at June 30, 2017: Exercise prices Number of Shares Expiration $5.20 1,300,002 June 2, 2020 $0.90 12,777,777 December 21, 2021 Total warrants outstanding 14,077,779

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Assumptions Used to Determine Fair Value of Option Grants	The Company uses the Black-Scholes option-pricing model to determine the fair value of all its option grants. For valuing options granted during the three and six months ended June 30, 2017 and 2016, the following assumptions were used: For the Three Months Ended For the Six Months Ended 2017 2016 2017 2016 Risk-free interest rate 1.73 – 2.25 % N/A 1.73 – 2.49 % 1.18 – 2.02 % Expected volatility 82.99 – 115.18 % N/A 82.99 – 123.01 % 79.42 – 116.70 % Weighted average expected volatility 85.51 % N/A 84.63 % 88.64 % Expected lives (in years) 5.20 – 10.00 N/A 5.20 – 10.00 5.20 – 10.0 Expected dividend yield 0.00 % N/A 0.00 % 0.00 %
Summary of Stock Option Activity	The following table summarizes the activity of Company’s stock option plan for the six months ended June 30, 2017: Total Number Weighted- Aggregate Balance at December 31, 2016 374,446 $ 27.29 Granted 328,384 0.69 Exercised — — Cancelled (25,379 ) 26.28 Balance at June 30, 2017 677,451 $ 14.43 $ — Exercisable at June 30, 2017 328,317 $ 28.15 $ —
Details of Stock-based Compensation Expense Recorded	The Company recorded stock-based compensation expense for the three and six months ended June 30, 2017 and 2016 as follows, in thousands: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Research and development $ 40 $ 88 $ 73 $ 160 General and administrative 79 139 160 361 Total stock-based compensation $ 119 $ 227 $ 233 $ 521

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Common Shares Excluded from the Calculation of Net Loss per Common Share Attributable to Common Stockholders	The following table sets forth the potential common shares excluded from the calculation of net loss per common share because their inclusion would be anti-dilutive: June 30, 2017 2016 Options to purchase common stock 677,451 389,969 Warrants to purchase common stock 14,077,779 2,556,966 Total 14,755,230 2,946,935

Significant Accounting Polici21

Significant Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Liquid instrument maturity period	Three months or less

Significant Accounting Polici22

Significant Accounting Policies - Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash Reported Within Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Cash and cash equivalents	$ 7,702	$ 12,906	$ 3,832
Restricted cash	50	50	50
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 7,752	$ 12,956	$ 3,882	$ 5,167

MirImmune Inc. Acquisition - Ad

MirImmune Inc. Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	Jan. 06, 2017	Jun. 30, 2017	Jun. 30, 2017	Jun. 09, 2017	Dec. 31, 2016
Research and Development Assets Acquired Other than Through Business Combination [Line Items]
Number of shares acquired	2,750,371		2,750,371
Holdback of aggregate closing consideration, percentage	3.00%
Acquired in-process research and development		$ 85	$ 3,075
MirImmune Stock Purchase Agreement [Member]
Research and Development Assets Acquired Other than Through Business Combination [Line Items]
Shares of common stock to be issued upon milestone	2,519,091
Additional number of common stock to be issued upon milestone percentage	13.00%
Series C Convertible Preferred Stock [Member]
Research and Development Assets Acquired Other than Through Business Combination [Line Items]
Number of shares acquired	1,118,224		1,118,224
Stock conversion ratio		1	1	1
Preferred Stock, shares issued		0	0		0
Preferred Stock, shares outstanding		0	0		0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Warrant in Thera	$ 5	$ 5
Total	5	5
Unobservable Inputs (Level 3) [Member]
Assets:
Warrant in Thera	5	5
Total	$ 5	$ 5

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Reconciliation of the Beginning and Ending Level 3 Assets (Detail) - Unobservable Inputs (Level 3) [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ 5
Balance, end of period	5
Thera Warrant [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in the warrant in Thera	$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Jan. 06, 2017	Jan. 05, 2017	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 09, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Number of common stock issued upon conversion of convertible instrument			0		0	0	0
Preferred stock, shares authorized			10,000,000			10,000,000			10,000,000
Number of shares acquired	2,750,371					2,750,371
Number of warrants outstanding			14,077,779			14,077,779
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, shares outstanding			0			0			5,737
Convertible preferred stock, shares issued			0			0			5,737
Preferred stock, shares authorized									8,100
Series C Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, shares outstanding			0			0			0
Convertible preferred stock, shares issued			0			0			0
Preferred stock, shares authorized		1,800,000	1,800,000			1,800,000
Preferred stock voting rights						No voting rights, with certain exceptions
Other dividends paid		$ 0
Number of shares acquired	1,118,224					1,118,224
Shares issued upon conversion			1			1		1
Common Stock [Member]
Class of Stock [Line Items]
Number of common stock issued upon conversion of convertible instrument				6,374,444
Warrants With Exercise Price $39.00 [Member]
Class of Stock [Line Items]
Exercise prices			$ 39			$ 39
Number of warrants outstanding			462			462

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Warrants Outstanding (Detail)	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Class of Warrant or Right [Line Items]
Number of Shares Underlying Warrants	14,077,779
Warrants With Exercise Price $5.20 [Member]
Class of Warrant or Right [Line Items]
Exercise prices | $ / shares	$ 5.20
Number of Shares Underlying Warrants	1,300,002
Expiration	Jun. 2, 2020
2016 Warrants With Exercise Price $0.90 [Member]
Class of Warrant or Right [Line Items]
Exercise prices | $ / shares	$ 0.90
Number of Shares Underlying Warrants	12,777,777
Expiration	Dec. 21, 2021

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Assumptions Used to Determine Fair Value of Option Grants (Detail)	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, Minimum	1.73%	1.73%	1.18%
Risk-free interest rate, Maximum	2.25%	2.49%	2.02%
Expected volatility, Minimum	82.99%	82.99%	79.42%
Expected volatility, Maximum	115.18%	123.01%	116.70%
Weighted average expected volatility	85.51%	84.63%	88.64%
Expected dividend yield	0.00%	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected lives (in years)	5 years 2 months 12 days	5 years 2 months 12 days	5 years 2 months 12 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected lives (in years)	10 years	10 years	10 years

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted average grant date fair value per share of options granted	$ 0.47		$ 0.49	$ 2.15
Total Number of options, Granted		0	328,384
Expected dividend yield	0.00%		0.00%	0.00%
Stock-based compensation expense	$ 22,000		$ 22,000

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock Option Activity (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total Number of Shares, Beginning Balance		374,446
Total Number of Shares, Granted	0	328,384
Total Number of Shares, Exercised		0
Total Number of Shares, Cancelled		(25,379)
Total Number of Shares, Ending Balance		677,451
Total Number of Shares, Exercisable		328,317
Weighted-Average Exercise Price Per Share, Beginning Balance		$ 27.29
Weighted-Average Exercise Price Per Share, Granted		0.69
Weighted-Average Exercise Price Per Share, Exercised		0
Weighted-Average Exercise Price Per Share, Cancelled		26.28
Weighted-Average Exercise Price Per Share, Ending Balance		14.43
Weighted-Average Exercise Price Per Share, Exercisable		$ 28.15
Aggregate Intrinsic Value, Ending Balance		$ 0
Aggregate Intrinsic Value, Exercisable		$ 0

Stock-based Compensation - Deta

Stock-based Compensation - Details of Stock-based Compensation Expense Recorded (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 119	$ 227	$ 233	$ 521
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	40	88	73	160
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 79	$ 139	$ 160	$ 361

Net Loss per Share - Common Sha

Net Loss per Share - Common Shares Excluded from the Calculation of Net Loss per Common Share Attributable to Common Stockholders (Detail) - shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total amount of anti-dilutive securities excluded from computation of earnings per share	14,755,230	2,946,935
Options to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total amount of anti-dilutive securities excluded from computation of earnings per share	677,451	389,969
Warrants to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total amount of anti-dilutive securities excluded from computation of earnings per share	14,077,779	2,556,966

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Events [Member] - Lincoln Park Capital Fund, LLC [Member] - Common Stock [Member]	Aug. 08, 2017shares
Subsequent Event [Line Items]
Purchase agreement term	30 months
Number of common stock issued as a commitment fee	450,000
Maximum [Member]
Subsequent Event [Line Items]
Potential consideration under purchase agreement	15,000,000