Ignyta 10-Q 7 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	RXDX
Entity Registrant Name	IGNYTA, INC.
Entity Central Index Key	1,557,421
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		66,338,218

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 29,565	$ 24,340
Short-term investment securities	115,244	83,637
Other current assets	3,862	3,873
Total current assets	148,671	111,850
Long-term investment securities		24,983
Property and equipment, net	4,382	6,270
Other long-term assets	1,312	1,811
Total assets	154,365	144,914
Current liabilities:
Accounts payable and accrued liabilities	17,575	13,510
Obligation due to licensor	3,804
Accrued compensation and benefits	3,119	4,007
Total current liabilities	24,498	17,517
Term loan, net of discount	29,994	29,517
Other long-term liabilities	11,859	3,110
Total liabilities	66,351	50,144
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par; 10,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.0001 par; 150,000,000 shares authorized; 56,291,097 and 41,665,779 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	6	4
Additional paid-in capital	436,752	346,549
Accumulated other comprehensive loss	(43)	(123)
Accumulated deficit	(348,701)	(251,660)
Total stockholders’ equity	88,014	94,770
Total liabilities and stockholders’ equity	$ 154,365	$ 144,914

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	56,291,097	41,665,779
Common stock, shares outstanding	56,291,097	41,665,779

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating expenses:
Research and development	$ 21,669	$ 16,626	$ 77,887	$ 56,425
General and administrative	6,541	6,145	17,606	16,871
Total operating expenses and loss from operations	(28,210)	(22,771)	(95,493)	(73,296)
Other income (expense):
Interest expense	(853)	(814)	(2,494)	(2,404)
Other income (expense)	460	296	946	966
Loss on debt extinguishment				(696)
Total other income/ (expense), net	(393)	(518)	(1,548)	(2,134)
Net loss	(28,603)	(23,289)	(97,041)	(75,430)
Comprehensive loss:
Net loss	(28,603)	(23,289)	(97,041)	(75,430)
Net unrealized gain (loss) on investment securities	49	(78)	80	234
Comprehensive loss	$ (28,554)	$ (23,367)	$ (96,961)	$ (75,196)
Net loss per share:
Net loss per share – basic and diluted	$ (0.51)	$ (0.56)	$ (1.96)	$ (2.02)
Weighted average shares outstanding – basic and diluted	56,258	41,652	49,403	37,413

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities:
Net loss	$ (97,041)	$ (75,430)
Adjustments to reconcile net loss to net cash used in operating activities:
License fee obligation	12,846
Loss on debt extinguishment		696
Stock-based compensation	5,701	5,436
Depreciation and amortization of property and equipment	2,086	2,735
Amortization of premium on investment securities, net of accretion of discounts	(53)	611
Amortization of non-cash financing costs	477	428
Other	2,123	(129)
Increase (decrease) in cash resulting from changes in:
Other current and long-term assets	680	(2,040)
Accounts payable, accrued expenses and other liabilities	898	(3,730)
Net cash used in operating activities	(72,283)	(71,423)
Investing activities:
Purchases of investment securities	(127,212)	(123,857)
Maturities and sales of investment securities	120,720	120,291
Purchases of property and equipment	(400)	(1,760)
Proceeds from sale of property and equipment	37
Net cash provided by (used in) investing activities	(6,855)	(5,326)
Financing activities:
Proceeds from issuance of common stock, net of issuance costs	82,782	53,892
Proceeds from borrowings under term loan facility		17,116
Repayments of borrowings under term loan facility		(17,438)
Proceeds from exercise of stock options	1,723	400
Repayments under other long-term obligations	(142)	(135)
Net cash provided by financing activities	84,363	53,835
Net change in cash and cash equivalents	5,225	(22,914)
Cash and cash equivalents at beginning of period	24,340	46,383
Cash and cash equivalents at end of period	29,565	23,469
Supplemental disclosures of cash flow information:
Cash paid for interest	2,014	1,976
Noncash investing and financing activities:
Final payment obligation to Lenders recorded as debt discount (see note 6)		1,600
Unrealized gain on investment securities	$ 80	234
Amounts capitalized under build-to-suit lease transaction		11,802
Interest capitalized during construction period for build-to-suit lease transaction		$ 1,073

Organization

Organization	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. ORGANIZATION Organization and Nature of Operations Ignyta, Inc. (“Ignyta” or the “Company”) is incorporated in the state of Delaware and was founded in 2011 (with the name “NexDx, Inc.”). The Company changed its name to “Ignyta, Inc.” on October 8, 2012. The Company is focused on precision medicine in oncology. Its goal is not just to shrink tumors, but to eradicate residual disease – the source of cancer relapse and recurrence – in precisely defined patient populations. The Company is pursuing an integrated therapeutic, or Rx, and diagnostic, or Dx, strategy for treating patients with cancer. Its Rx efforts are focused on in-licensing or acquiring, then developing and commercializing molecularly or immunologically targeted therapies that, sequentially or in combination, are foundational for eradicating residual disease. Its Dx efforts aim to pair these product candidates with biomarker-based diagnostics that are designed to precisely identify, on a molecular or immunological basis, the patients who are most likely to benefit from the precision therapies it develops. Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment. Liquidity The Company had negative cash flow from operations of approximately $72.3 million during the first nine months of 2017 and, as of September 30, 2017, had an accumulated deficit of approximately $348.7 million. The Company is focused primarily on its development programs, and management believes such activities will result in the continued incurrence of significant research and development and other expenses related to those programs. The Company expects that it will need additional capital to further fund development of, and seek regulatory approvals for, its product candidates, and begin to commercialize any approved products. If the clinical trials for any of the Company’s products fail or produce unsuccessful results and those product candidates do not gain regulatory approval, or if any of its product candidates, if approved, fails to achieve market acceptance, the Company may never become profitable. Even if the Company achieves profitability in the future, it may not be able to sustain profitability in subsequent periods. The Company intends to cover its future operating expenses through cash on hand and through additional financing from existing and prospective investors. The Company cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to the Company or to its stockholders. As of September 30, 2017, the Company had cash, cash equivalents and investment securities totaling approximately $144.8 million. In October 2017, the Company completed a public offering of an aggregate of 10,000,000 shares of its common stock for net proceeds of $150.0 million. While the Company expects that its existing cash, cash equivalents and investment securities will enable it to fund its operations and capital expenditure requirements for at least the next twelve months, having insufficient funds may require the Company to delay, reduce, limit or terminate some or all of its development programs or future commercialization efforts or grant rights to develop and market product candidates that it would otherwise prefer to develop and market on its own. Failure to obtain adequate financing could eventually adversely affect the Company’s ability to operate as a going concern. If the Company raises additional funds from the issuance of equity securities, substantial dilution to its existing stockholders would likely result. If the Company raises additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict its ability to operate its business.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information, the instructions to Form 10-Q and related SEC rules and regulations. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In management’s opinion, the accompanying unaudited condensed financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the results for the interim periods presented. Interim financial results are not necessarily indicative of results anticipated for the full year. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as filed with the SEC. 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, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. Significant estimates used in preparing the financial statements include those assumed in estimating expenses for the Company’s pre-clinical studies and clinical trials, computing the valuation allowance on deferred tax assets, and calculating stock-based compensation expense. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. Cash equivalents primarily represent amounts invested in money market funds whose cost equals market value. Investment Securities Investment securities consist of government and government agency obligations, corporate notes and bonds and commercial paper. The Company classifies its investment securities as available-for-sale at the time of purchase. All investment securities are recorded at estimated fair value. Unrealized gains and losses for available-for-sale investment securities are included in accumulated other comprehensive income or loss, a component of stockholders’ equity. The Company evaluates its investment securities as of each balance sheet date to assess whether those with unrealized loss positions are other-than-temporarily impaired. Impairments are considered to be other-than-temporary if they are related to deterioration in credit risk or if it is likely that the Company will sell the securities before the recovery of its cost basis. Realized gains and losses and declines in value judged to be other-than-temporary are determined based on the specific identification method. No other-than-temporary impairment charges have been recognized since inception. Fair Value of Financial Instruments Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) 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 Company’s financial instruments consist of cash and cash equivalents, investment securities, prepaid expenses and other assets, accounts payable, accrued expenses, and its term loan facility with Silicon Valley Bank, as collateral agent (“SVB”), and Oxford Finance LLC (“Oxford” and collectively with SVB, the “Lenders”). The valuation of assets and liabilities is subject to fair value measurements using a three-tiered approach, and fair value measurement is classified and disclosed in one of the following categories: Level 1: Quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, 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 assets or liabilities; or Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Fair value estimates of these instruments at a specific point in time are made based on relevant market information. These estimates may be subjective in nature and involve uncertainties and matters of judgment and therefore cannot be determined with precision. The Company reports its investment securities at their estimated fair values based on quoted market prices for identical or similar instruments. The book values of cash and cash equivalents, prepaid expenses and other assets, accounts payable, accrued expenses, notes payable and other liabilities are reasonable estimates of fair value because of the short-term nature of these items. Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents, investment securities and the term loan. The Company maintains its cash and cash equivalents with financial institutions in amounts that typically exceed the amount of federal insurance provided on such deposits. With respect to the Company’s investment securities and its term loan, the primary exposure to market risk is the risk that prevailing interest rates may change, causing the value of these investments and the value of the term loan to fluctuate. The Company has not experienced any significant losses on its cash, cash equivalents, investment securities or its term loan. The Company’s credit risk exposure is up to the extent of the value of its cash, cash equivalents and investment securities recorded on the Company’s balance sheet. Research and Development Costs incurred in connection with research and development activities are expensed as incurred. Research and development expenses consist of (i) external research and development expenses incurred under arrangements with third parties, such as contract research organizations, investigational sites and consultants; (ii) employee-related expenses, including salaries, benefits, travel and stock compensation expense; (iii) the cost of acquiring, developing and manufacturing clinical study materials; (iv) facilities and other expenses, which include direct and allocated expenses for rent and maintenance of facilities and laboratory and other supplies, and (v) license fees and other expenses relating to the acquisition of rights to the Company’s development programs. The Company enters into consulting, research and other agreements with commercial firms, researchers, universities and others for the provision of goods and services. Under such agreements, the Company may pay for services on a monthly, quarterly, project or other basis. Such arrangements are generally cancellable upon reasonable notice and payment of costs incurred. Costs are considered incurred based on an evaluation of the progress to completion of specific tasks under each contract using information and data provided to the Company by its clinical sites and vendors and other information. These costs consist of direct and indirect costs associated with specific projects, as well as fees paid to various entities that perform certain research on behalf of the Company. In certain circumstances, the Company is required to make advance payments to vendors for goods or services that will be received in the future for use in research and development activities. In such circumstances, the advance payments are deferred and are expensed when the activity has been performed or when the goods have been received. Clinical Trial and Pre-Clinical Study Accruals Accrued expenses for pre-clinical studies and clinical trials are based on estimates of costs incurred and fees that may be associated with services provided by contract research organizations, clinical trial investigational sites, and other related vendors as of each balance sheet date. Payments under certain contracts with such parties depend on factors such as successful enrollment of patients, site initiation and the completion of milestones. In accruing service fees, management estimates the time period over which services will be performed and the level of effort to be expended in each period. If possible, the Company obtains information regarding unbilled services directly from these service providers. However, the Company may be required to estimate these services based on other information available to it. If the Company underestimates or overestimates the activity or fees associated with a study or service at a given point in time, adjustments to research and development expenses may be necessary in future periods. Historically, estimated accrued liabilities have approximated actual expense incurred. Subsequent changes in estimates may result in a material change in the Company’s accruals. Stock-Based Compensation Stock-based compensation cost for equity awards to employees and members of the Company’s board of directors is measured at the grant date, based on the calculated fair value of the award using the Black-Scholes option-pricing model. Stock-based compensation is recognized as an expense, net of estimated forfeitures, using the straight-line method over the vesting period of the equity grant. Stock options issued to non-employees are accounted for at their estimated fair values determined using the Black-Scholes option-pricing model. The fair value of options granted to non-employees is re-measured as they vest, and the resulting change in value, if any, is recognized as an expense during the period the related services are rendered. Net Loss per Share Basic and diluted loss per share are computed by dividing the losses applicable to common stock by the weighted average number of common shares outstanding. The Company’s basic and fully diluted loss per share calculations are the same since the increased number of shares that would be included in the diluted calculation from the assumed exercise of stock equivalents would be anti-dilutive to the net loss in each of the years presented in the financial statements. The calculations of net loss per share excluded potentially dilutive securities (consisting of outstanding options, warrants, restricted stock and restricted stock units) of approximately 5.9 million and 5.6 million shares as of September 30, 2017 and 2016, respectively. Recently Adopted Accounting Standards In March 2016, the FASB issued ASU 2016-09, Compensation–Stock Compensation: Improvements to Employee Share-Based Payment Accounting Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Update (“ASU”) 2016-02, Leases In May 2017, the FASB issued ASU 2017-09, Stock Compensation (Topic 718), Scope of Modification Accounting

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2017
Investments Schedule [Abstract]
Investment Securities	3. INVESTMENT SECURITIES Following is a summary of the available-for-sale investment securities held by the Company as of the dates below ( in thousands As of September 30, 2017 Gross Gross Fair Amortized Unrealized Unrealized Market Gross Gains Losses Value Available-for-sale investment securities: Commercial paper $ 70,669 $ — $ — $ 70,669 Corporate debt securities 14,122 — (4 ) 14,118 U.S. government and agency obligations 30,496 — (39 ) 30,457 Total $ 115,287 $ — $ (43 ) $ 115,244 As of December 31, 2016 Gross Gross Fair Amortized Unrealized Unrealized Market Gross Gains Losses Value Available-for-sale investment securities: Commercial paper $ 8,996 $ — $ — $ 8,996 Corporate debt securities 49,179 1 (55 ) 49,125 U.S. government and agency obligations 50,568 1 (70 ) 50,499 Total $ 108,743 $ 2 $ (125 ) $ 108,620 All of the Company’s available-for-sale investment securities held at September 30, 2017, had maturity dates of less than 12 months. The Company determines the appropriate designation of investment securities at the time of purchase and reevaluates such designation as of each balance sheet date. Securities classified as short-term investment securities have maturity dates of less than one year from the balance sheet date, while those classified as long-term investment securities have maturity dates of greater than one year from the balance sheet date. The cost of securities sold is based on the specific identification method. The Company has not realized any significant gains or losses on sales of available-for-sale investment securities during any of the periods presented. Amortization of premiums, accretion of discounts, interest, dividend income, and realized gains and losses are included in investment income. None of the Company’s available-for-sale investment securities were in a material unrealized loss position at September 30, 2017. The Company reviewed its investment holdings as of September 30, 2017, and determined that its unrealized losses were not considered to be other-than-temporary based upon (i) the financial strength of the issuing institution and (ii) the fact that no securities have been in an unrealized loss position for twelve months or more. As such, the Company has not recognized any impairment in its financial statements related to its available-for-sale investment securities.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. FAIR VALUE MEASUREMENTS The Company holds investment securities that consist of highly liquid, investment grade debt securities. The Company determines the fair value of its investment securities based upon one or more valuations reported by its investment accounting and reporting service provider. The investment service provider values the securities using a hierarchical security pricing model that relies primarily on valuations provided by an industry-recognized valuation service. Such valuations may be based on trade prices in active markets for identical assets or liabilities (Level 1 inputs) or valuation models using inputs that are observable either directly or indirectly (Level 2 inputs), such as quoted prices for similar assets or liabilities, yield curves, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, and broker and dealer quotes, as well as other relevant economic measures. The Company’s financial assets measured at fair value on a recurring basis were as follows ( in thousands As of September 30, 2017 As of December 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investment securities: Commercial paper $ — $ 70,669 $ — $ 70,669 $ — $ 8,996 $ — $ 8,996 Corporate debt securities — 14,118 — 14,118 — 49,125 — 49,125 U.S. government and agency obligations 30,457 — — 30,457 50,499 — — 50,499 Total assets at fair value $ 30,457 $ 84,787 $ — $ 115,244 $ 50,499 $ 58,121 $ — $ 108,620

Balance Sheet Details

Balance Sheet Details	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Balance Sheet Details	5. BALANCE SHEET DETAILS Property and Equipment Property and equipment consisted of the following ( in thousands September 30, 2017 December 31, 2016 Lab and manufacturing equipment $ 6,528 $ 7,656 Office and computer equipment 2,078 1,762 Leasehold improvements 275 374 Property and equipment at cost 8,881 9,792 Accumulated depreciation and amortization (4,499 ) (3,522 ) Property and equipment, net $ 4,382 $ 6,270 Other Long-Term Liabilities Other long-term liabilities consisted of the following ( in thousands September 30, 2017 December 31, 2016 Obligation due to licensor (note 7) $ 6,550 $ — Deferred rent 3,709 1,510 Final loan fee obligation to lender (note 6) 1,600 1,600 Other long-term liabilities $ 11,859 $ 3,110

Term Loan Facility

Term Loan Facility	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Term Loan Facility	6. TERM LOAN FACILITY In June 2016, the Company entered into a loan and security agreement (the “Loan Agreement”) with the Lenders. Under the Loan Agreement, the Company received initial funding of $32.0 million, substantially all of which was used to repay the Company’s prior loan with SVB. The Company considered authoritative literature which states that modifications or exchanges are considered extinguishments with gains or losses recognized in current earnings if the terms of the new debt and original instrument are substantially different. The Company determined that for SVB’s portion of the new facility, the terms are not substantially different from the prior loan and should be accounted for as a debt modification with previously deferred financing costs amortized as an adjustment of interest expense over the remaining term of the modified debt using the interest method. The Company determined that the portion of the old facility with SVB that was not assumed by SVB under the new facility should be accounted for as a debt extinguishment with fees paid to the lender and previously deferred financing costs included in the calculation of loss on debt extinguishment. The Company recorded a loss on debt extinguishment of $0.7 million during the second quarter of fiscal 2016. Borrowings under the new facility will bear interest at a rate equal to the Prime Rate plus 4.35% (8.60% at September 30, 2017) and have interest only payments for thirty months, followed by a principal amortization period of thirty months. Upon the maturity date, the Company must make a final lump-sum payment of 5.0% of the full amount of the loan funded ($1.6 million). The fair value of the final payment has been recorded as a debt discount which is being amortized to interest expense over the term of the Loan Agreement. The Company may elect to prepay all amounts owed prior to the maturity date provided that a prepayment fee, equal to 1%, is also paid. Future minimum principal payments of approximately $1.1 million commence in February 2019 and are due monthly through July 2021 as follows ( in thousands Year ending December 31, Minimum Principal Payments 2017 (3 months) and 2018 $ — 2019 11,733 2020 12,800 2021 7,467 Total $ 32,000 The Company is bound by certain affirmative and negative covenants setting forth actions that it must and must not take during the term of the Loan Agreement, including a prohibition on the payment of dividends. Under the Loan Agreement, the Company must also maintain the majority of its cash in accounts at SVB. Upon the occurrence of an event of default, subject to cure periods for certain events of default, all amounts owed by the Company thereunder shall begin to bear interest at a rate that is 3% higher than the rate that is otherwise applicable and may be declared immediately due and payable by the Lenders. The Company has granted SVB, as collateral agent for the ratable benefit of the Lenders, a security interest in substantially all of its personal property, rights and assets, other than intellectual property, to secure the payment of all amounts owed under this agreement. The Company has also agreed not to encumber any of its intellectual property without the required lenders’ prior written consent. The Loan Agreement also contains customary indemnification obligations and customary events of default, including, among other things, our failure to fulfill certain obligations of the Company under the Loan Agreement and the occurrence of a material adverse change which is defined as a material adverse change in the Company’s business, operations, or condition (financial or otherwise), a material impairment of the prospect of repayment of any portion of the loan, or a material impairment in the perfection or priority of lender’s lien in the collateral or in the value of such collateral. In the event of default by the Company under the Loan Agreement, the lender would be entitled to exercise its remedies thereunder, including the right to accelerate the debt, upon which the Company may be required to repay all amounts then outstanding under the Loan Agreement, which could harm the Company’s financial condition. The Company was in compliance with all of the covenants under the Loan Agreement as of September 30, 2017, and there had been no material adverse change.

License Agreements

License Agreements	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
License Agreements	7. LICENSE AGREEMENTS Entrectinib The Company entered into a license agreement with Nerviano Medical Sciences S.r.l. (“NMS”) on October 10, 2013, which was amended on October 25, 2013, became effective on November 6, 2013, and was later amended on December 12, 2014. The license grants the Company exclusive global rights to develop and commercialize entrectinib. The Company’s development rights under the license are exclusive for the term of the agreement with respect to entrectinib and also, as to NMS, are exclusive for a five-year period with respect to any product candidate with activity against the target proteins of entrectinib, and include the right to grant sublicenses. The Company is obligated under the license agreement to use commercially reasonable efforts to develop and commercialize a product based on entrectinib at its expense. When and if commercial sales of a product begin, the Company will be obligated to pay NMS tiered royalties ranging from a mid-single digit percentage to a low double digit percentage (between 10% and 15%) of net sales, depending on the amount of net sales, with standard provisions for royalty offsets to the extent it obtains any rights from third parties to commercialize the product. The license agreement also requires that the Company make development and regulatory milestone payments to NMS of up to $105.0 million in the aggregate if specified clinical study initiations and regulatory approvals are achieved across multiple products or indications. Life-to-date payments to NMS in connection with this agreement totaled $17.0 million as of September 30, 2017, and included an up-front payment of $7.0 million (paid in November 2013) and an initial milestone payment of $10.0 million (paid in December 2014). All payments under this agreement have been expensed as research and development (as no future benefit was determined to exist at the time of payment). The Company will become obligated to make a $12.0 million milestone payment under the provisions of its license agreement with NMS at the earlier of the achievement of a specified clinical trial outcome or December 31, 2017, unless the license is terminated prior to November 1, 2017. While the Company may likely become obligated to make this milestone payment in the near future, management did not record this liability as of September 30, 2017 as it was determined that this obligation was not yet probable in accordance with the relevant accounting criteria for accrual. RXDX-105 and RXDX-106 In connection with its March 2015 asset acquisition from Cephalon, the Company assumed all rights and obligations under the collaboration agreement dated November 3, 2006, as amended April 17, 2009, between Cephalon, Inc. and Daiichi Sankyo Company, Limited (“Daiichi Sankyo”), as successor-in-interest to Ambit Biosciences Corporation. The collaboration portion of the agreement ended in November 2009, but the agreement remains in effect on a product-by-product, country-by-country basis until all royalty obligations expire. Both parties have a right to terminate the agreement if the other party enters bankruptcy or upon an uncured breach by the other party. The Company may also terminate the agreement in its discretion upon 90 days’ written notice to Daiichi Sankyo. The Company is solely responsible for worldwide clinical development and commercialization of collaboration compounds, subject to the option of Daiichi Sankyo, exercisable during certain periods following completion of the first proof-of-concept study in humans and only with the consent of the Company, to co-develop and co-promote RXDX-105. If the Company decides to discontinue development of the RXDX-105 program, it must give written notice to Daiichi Sankyo, which will have the right to assume control of that program, subject to diligence obligations and payment of the milestones and royalties to the Company that would otherwise have been paid to Daiichi Sankyo had the Company maintained responsibility for the program. The agreement requires the Company to make development, regulatory and sales milestone payments to Daiichi Sankyo of up to $44.5 million in the aggregate for RXDX-105, and up to $47.5 million in payments upon the achievement of development, regulatory and sales milestones for RXDX-106. When and if commercial sales of a product based on either of RXDX-105 or RXDX-106 begin, the Company will be obligated to pay Daiichi Sankyo tiered royalties ranging from a mid-single digit percentage to a low double digit percentage of net sales, depending on annual amounts of net sales, with standard provisions for royalty offsets to the extent it is required to obtain any rights from third parties to commercialize either RXDX-105 or RXDX-106. Royalties are payable to Daiichi Sankyo on a product-by-product, country-by-country basis beginning on the date of the first commercial sale in a country and ending on the later of 10 years after the date of such sale in that country or the expiration date of the last to expire licensed patent covering the product in that country. Taladegib The Company entered into a license, development and commercialization agreement with Eli Lilly and Company (“Lilly”) in November 2015, under which the Company received exclusive, global rights to develop and commercialize pharmaceutical products under the licensed technology (“Licensed Products”), including Lilly’s product candidate taladegib. Taladegib is an orally bioavailable, small molecule hedgehog/smoothened antagonist that has achieved clinical proof-of-concept and a recommended Phase 2 dose in a Phase 1 dose escalation trial. The Company granted back to Lilly an exclusive license to develop and commercialize pharmaceutical products comprising taladegib in combination with certain other molecules (“Combination Products”). The Company also licensed the exclusive worldwide rights to the topical formulation of taladegib, which is a late preclinical development program for the potential treatment of patients with superficial and nodular basal cell carcinoma. During the first quarter of 2017, the Company agreed to amend and restate the license, development and commercialization agreement (the “A&R License Agreement”) with Lilly. Under the A&R License Agreement, the Company is obligated to pay to Lilly $15.0 million in four timing-based milestones, the first $3.0 million of which was paid in the first quarter of 2017. The remaining payments are payable in the first quarter of the subsequent three calendar years, subject to offsetting adjustment if the Company shall have received cash consideration in connection with an assignment, sale of the Licensed Products to a third party (other than in connection with the sale of substantially all of the assets of the Company), or grant of a sublicense prior to March 31, 2020. The Company recorded a charge of $12.8 million to research and development expense in the first quarter of 2017, which represented the net present value of the Company’s obligation under the A&R License Agreement discounted at its incremental borrowing rate of 10.1%. The discount (of $2.2 million) will be accreted to research and development expense over 36 months. The Company is obligated under the A&R License Agreement to use commercially reasonably efforts to develop the Licensed Products at its expense, provided, however, that if the Company is not actively developing the Licensed Products as of December 31, 2018, then the A&R License Agreement shall immediately terminate and the licenses granted to the Company shall terminate. The Company’s timing-based milestone payment obligations under this amendment survive any such termination. When and if commercial sales of Licensed Products begin, the Company will be further obligated to pay Lilly a mid-single digit royalty of net sales of Licensed Products. When and if commercial sales of Combination Products begin, Lilly will be obligated to pay the Company a mid-single digit royalty of net sales of Combination Products. Both parties’ royalty obligations are subject to standard provisions for royalty offsets to the extent a party is required to obtain any rights from third parties to commercialize the applicable products, or in the event of loss of exclusivity or generic competition. The A&R License Agreement also requires the Company to make sales-based milestone payments to Lilly of up to $20.0 million.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. COMMITMENTS AND CONTINGENCIES Leases The Company leases office and laboratory space and certain lab equipment under operating leases that expire through 2026. Certain of the facility leases contain periodic rent increases that result in the Company recording deferred rent over the term of these leases. Future minimum lease payments under the non-cancellable portion of operating leases totaled $24.1 million as of September 30, 2017. Clinical Trial Study Agreement Commitments The Company has entered into agreements with several contract research organizations for clinical studies to be conducted both within and outside the United States for its product candidates. The contracted cost under these arrangements totaled approximately $71.1 million as of September 30, 2017, of which approximately $40.4 million has been incurred to date. These agreements run through various dates, with the longest term expected to run through 2020. These contracts can be terminated at any time with no more than 60 days’ notice, at which point the Company would be obligated to pay for costs incurred though the termination date. Other matters Although the Company is currently not a party to any material legal proceedings, in the normal course of business, the Company has been, and will likely continue to be, subject to claims, administrative proceedings or litigation incidental to its business that are either judged to be not material or that arise in the ordinary course of business from time to time, such as claims related to customer disputes, employment practices, wage and hour disputes, professional liability, products liability, licensure restrictions or denials, and patent infringement. Responding to such matters, regardless of whether they have merit, can be expensive and disruptive to normal business operations. Due to the uncertainties inherent in legal proceedings and litigation, the Company is not able to predict the timing or outcome of these matters. The Company could in the future incur judgments or enter into settlements of claims that could have an adverse effect on its results of operations in any particular period.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' Equity	9. STOCKHOLDERS’ EQUITY Authorized Shares The Company is authorized to issue 150,000,000 shares of common stock and 10,000,000 shares of preferred stock, with the preferred stock having the rights, preferences and privileges that the Board of Directors may determine from time to time. Each share of the Company’s common stock is entitled to one vote, and all shares rank equally as to voting and other matters. Stock Offerings In May 2017, the Company completed a public offering of an aggregate of 14,375,000 shares of its common stock for net proceeds of approximately $82.8 million (net of transaction costs of approximately $5.7 million). In May 2016, the Company completed a public offering of an aggregate of 9,200,000 shares of its common stock for net proceeds of approximately $53.9 million (net of transaction costs of approximately $3.6 million). At-The-Market Issuance Sales Agreement In December 2015, the Company entered into an “at-the-market” issuance sales agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor”) pursuant to which the Company may issue and sell shares of its common stock from time to time, at the Company’s option, through Cantor as its sales agent. The Company is not obligated to make any sales of its common stock under the Sales Agreement, and it may terminate its agreement with Cantor at any time. Any shares sold will be sold pursuant to an effective shelf registration statement on Form S-3. The Company will pay Cantor a commission of 3.0% of the gross proceeds of any such sales. The Company has reserved up to $33.0 million under its shelf registration statement for shares that may be issued under the Sales Agreement. Through September 30, 2017, the Company has not made any sales of shares in connection with this arrangement. Common Stock Warrants Warrants to purchase an aggregate of 98,698 shares of the Company’s common stock were outstanding at September 30, 2017. These warrants have a weighted average exercise price of $5.83 per share and expire at various dates through June 2023.

Equity Awards

Equity Awards	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Awards	10. EQUITY AWARDS Equity Incentive Plans The Company may issue equity awards to either employees or non-employees under its Amended and Restated 2014 Incentive Award Plan (the “2014 Plan”). The 2014 Plan provides for the issuance of up to 6,000,000 shares, plus one additional share for each option share granted under the Company’s 2011 Incentive Award Plan (the “2011 Plan”) that expires, is forfeited or is settled in cash subsequent to June 11, 2014. Options granted under the 2014 Plan may be subject to vesting and expire no more than ten years from their date of grant. The Company also has outstanding equity awards that were granted under certain predecessor plans. No additional equity grants may be made by the Company under any of these predecessor plans. In August 2017, the Company’s Board of Directors approved the 2017 Employment Inducement Incentive Award Plan (the “2017 Inducement Plan”), which provides for the issuance of up to 1,000,000 shares to prospective employees as a material inducement for entering into employment with the Company. Recipients must meet certain other pre-employment criteria, and award grants must be made in connection with the commencement of employment. Awards under the 2017 Inducement Plan are subject to vesting and will expire no more than ten years from their date of grant. A summary of the Company’s option activity and other related information is as follows: Weighted- Weighted- Aggregate Average Average Intrinsic Options Exercise Remaining Value Outstanding Price Term (000’s) Balance at December 31, 2016 5,109,285 $ 8.86 Granted 1,086,419 $ 6.10 Exercised (226,947 ) $ 7.59 Forfeited and expired (403,400 ) $ 13.09 Balance at September 30, 2017 5,565,357 $ 8.07 7.6 $ 24,161 Exercisable at September 30, 2017 2,967,526 $ 8.04 6.8 $ 13,029 As of September 30, 2017, an aggregate of 3,623,480 shares remain available for grant under the Company’s equity incentive plans. Fair Value of Equity Awards The Company utilizes the Black Scholes option pricing model to value its equity awards. The fair value of options granted during the first nine months of 2017 and 2016 was $4.17 and $5.35 per share, respectively, and was estimated using the following weighted-average assumptions: Fiscal Fiscal 2017 2016 Expected life of option 6.2 years 6.0 years Volatility 78% 73% Risk free interest rate 2.0% 1.4% Dividend yield —% —% Stock-Based Compensation The following table summarizes stock-based compensation expense during the periods presented for all equity awards issued to employees and non-employees ( in thousands Three months ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Included in research and development $ 507 $ 992 $ 3,145 $ 2,613 Included in general and administrative 973 1,044 2,556 2,823 Total $ 1,480 $ 2,036 $ 5,701 $ 5,436 Unrecognized stock-based compensation expense related to unvested awards granted under the Company’s equity incentive plans totaled $11.7 million as of September 30, 2017, and is expected to be recognized over a weighted-average period of 2.3 years. Restricted Stock Units Under the provisions of its equity incentive plan, the Company may issue restricted stock units to members of its board of directors or its employee team. As of September 30, 2017, an aggregate of 231,520 restricted stock units were outstanding and subject to vesting through January 2021.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	11. SUBSEQUENT EVENTS In October 24, 2017, the Company completed a public offering of an aggregate of 10,000,000 shares of its common stock for net proceeds of approximately $150.0 million (net of transaction costs of approximately $10.0 million). On November 1, 2017, the Company became obligated under the provisions of its license agreement with NMS to make a $12.0 million milestone payment. Although payment of this obligation will likely occur in January 2018, the obligation was deemed to satisfy the accounting criteria for accrual and will be reflected in the Company’s financial results for the fourth quarter of fiscal 2017.

Organization (Policies)

Organization (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations Ignyta, Inc. (“Ignyta” or the “Company”) is incorporated in the state of Delaware and was founded in 2011 (with the name “NexDx, Inc.”). The Company changed its name to “Ignyta, Inc.” on October 8, 2012. The Company is focused on precision medicine in oncology. Its goal is not just to shrink tumors, but to eradicate residual disease – the source of cancer relapse and recurrence – in precisely defined patient populations. The Company is pursuing an integrated therapeutic, or Rx, and diagnostic, or Dx, strategy for treating patients with cancer. Its Rx efforts are focused on in-licensing or acquiring, then developing and commercializing molecularly or immunologically targeted therapies that, sequentially or in combination, are foundational for eradicating residual disease. Its Dx efforts aim to pair these product candidates with biomarker-based diagnostics that are designed to precisely identify, on a molecular or immunological basis, the patients who are most likely to benefit from the precision therapies it develops. Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment.
Liquidity	Liquidity The Company had negative cash flow from operations of approximately $72.3 million during the first nine months of 2017 and, as of September 30, 2017, had an accumulated deficit of approximately $348.7 million. The Company is focused primarily on its development programs, and management believes such activities will result in the continued incurrence of significant research and development and other expenses related to those programs. The Company expects that it will need additional capital to further fund development of, and seek regulatory approvals for, its product candidates, and begin to commercialize any approved products. If the clinical trials for any of the Company’s products fail or produce unsuccessful results and those product candidates do not gain regulatory approval, or if any of its product candidates, if approved, fails to achieve market acceptance, the Company may never become profitable. Even if the Company achieves profitability in the future, it may not be able to sustain profitability in subsequent periods. The Company intends to cover its future operating expenses through cash on hand and through additional financing from existing and prospective investors. The Company cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to the Company or to its stockholders. As of September 30, 2017, the Company had cash, cash equivalents and investment securities totaling approximately $144.8 million. In October 2017, the Company completed a public offering of an aggregate of 10,000,000 shares of its common stock for net proceeds of $150.0 million. While the Company expects that its existing cash, cash equivalents and investment securities will enable it to fund its operations and capital expenditure requirements for at least the next twelve months, having insufficient funds may require the Company to delay, reduce, limit or terminate some or all of its development programs or future commercialization efforts or grant rights to develop and market product candidates that it would otherwise prefer to develop and market on its own. Failure to obtain adequate financing could eventually adversely affect the Company’s ability to operate as a going concern. If the Company raises additional funds from the issuance of equity securities, substantial dilution to its existing stockholders would likely result. If the Company raises additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict its ability to operate its business.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information, the instructions to Form 10-Q and related SEC rules and regulations. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In management’s opinion, the accompanying unaudited condensed financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the results for the interim periods presented. Interim financial results are not necessarily indicative of results anticipated for the full year. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as filed with the SEC.
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, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. Significant estimates used in preparing the financial statements include those assumed in estimating expenses for the Company’s pre-clinical studies and clinical trials, computing the valuation allowance on deferred tax assets, and calculating stock-based compensation expense. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. Cash equivalents primarily represent amounts invested in money market funds whose cost equals market value.
Investment Securities	Investment Securities Investment securities consist of government and government agency obligations, corporate notes and bonds and commercial paper. The Company classifies its investment securities as available-for-sale at the time of purchase. All investment securities are recorded at estimated fair value. Unrealized gains and losses for available-for-sale investment securities are included in accumulated other comprehensive income or loss, a component of stockholders’ equity. The Company evaluates its investment securities as of each balance sheet date to assess whether those with unrealized loss positions are other-than-temporarily impaired. Impairments are considered to be other-than-temporary if they are related to deterioration in credit risk or if it is likely that the Company will sell the securities before the recovery of its cost basis. Realized gains and losses and declines in value judged to be other-than-temporary are determined based on the specific identification method. No other-than-temporary impairment charges have been recognized since inception.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial assets and liabilities are measured at fair value, which is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) 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 Company’s financial instruments consist of cash and cash equivalents, investment securities, prepaid expenses and other assets, accounts payable, accrued expenses, and its term loan facility with Silicon Valley Bank, as collateral agent (“SVB”), and Oxford Finance LLC (“Oxford” and collectively with SVB, the “Lenders”). The valuation of assets and liabilities is subject to fair value measurements using a three-tiered approach, and fair value measurement is classified and disclosed in one of the following categories: Level 1: Quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, 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 assets or liabilities; or Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Fair value estimates of these instruments at a specific point in time are made based on relevant market information. These estimates may be subjective in nature and involve uncertainties and matters of judgment and therefore cannot be determined with precision. The Company reports its investment securities at their estimated fair values based on quoted market prices for identical or similar instruments. The book values of cash and cash equivalents, prepaid expenses and other assets, accounts payable, accrued expenses, notes payable and other liabilities are reasonable estimates of fair value because of the short-term nature of these items.
Credit Risk	Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents, investment securities and the term loan. The Company maintains its cash and cash equivalents with financial institutions in amounts that typically exceed the amount of federal insurance provided on such deposits. With respect to the Company’s investment securities and its term loan, the primary exposure to market risk is the risk that prevailing interest rates may change, causing the value of these investments and the value of the term loan to fluctuate. The Company has not experienced any significant losses on its cash, cash equivalents, investment securities or its term loan. The Company’s credit risk exposure is up to the extent of the value of its cash, cash equivalents and investment securities recorded on the Company’s balance sheet.
Research and Development	Research and Development Costs incurred in connection with research and development activities are expensed as incurred. Research and development expenses consist of (i) external research and development expenses incurred under arrangements with third parties, such as contract research organizations, investigational sites and consultants; (ii) employee-related expenses, including salaries, benefits, travel and stock compensation expense; (iii) the cost of acquiring, developing and manufacturing clinical study materials; (iv) facilities and other expenses, which include direct and allocated expenses for rent and maintenance of facilities and laboratory and other supplies, and (v) license fees and other expenses relating to the acquisition of rights to the Company’s development programs. The Company enters into consulting, research and other agreements with commercial firms, researchers, universities and others for the provision of goods and services. Under such agreements, the Company may pay for services on a monthly, quarterly, project or other basis. Such arrangements are generally cancellable upon reasonable notice and payment of costs incurred. Costs are considered incurred based on an evaluation of the progress to completion of specific tasks under each contract using information and data provided to the Company by its clinical sites and vendors and other information. These costs consist of direct and indirect costs associated with specific projects, as well as fees paid to various entities that perform certain research on behalf of the Company. In certain circumstances, the Company is required to make advance payments to vendors for goods or services that will be received in the future for use in research and development activities. In such circumstances, the advance payments are deferred and are expensed when the activity has been performed or when the goods have been received.
Clinical Trial and Pre-Clinical Study Accruals	Clinical Trial and Pre-Clinical Study Accruals Accrued expenses for pre-clinical studies and clinical trials are based on estimates of costs incurred and fees that may be associated with services provided by contract research organizations, clinical trial investigational sites, and other related vendors as of each balance sheet date. Payments under certain contracts with such parties depend on factors such as successful enrollment of patients, site initiation and the completion of milestones. In accruing service fees, management estimates the time period over which services will be performed and the level of effort to be expended in each period. If possible, the Company obtains information regarding unbilled services directly from these service providers. However, the Company may be required to estimate these services based on other information available to it. If the Company underestimates or overestimates the activity or fees associated with a study or service at a given point in time, adjustments to research and development expenses may be necessary in future periods. Historically, estimated accrued liabilities have approximated actual expense incurred. Subsequent changes in estimates may result in a material change in the Company’s accruals.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation cost for equity awards to employees and members of the Company’s board of directors is measured at the grant date, based on the calculated fair value of the award using the Black-Scholes option-pricing model. Stock-based compensation is recognized as an expense, net of estimated forfeitures, using the straight-line method over the vesting period of the equity grant. Stock options issued to non-employees are accounted for at their estimated fair values determined using the Black-Scholes option-pricing model. The fair value of options granted to non-employees is re-measured as they vest, and the resulting change in value, if any, is recognized as an expense during the period the related services are rendered.
Net Loss per Share	Net Loss per Share Basic and diluted loss per share are computed by dividing the losses applicable to common stock by the weighted average number of common shares outstanding. The Company’s basic and fully diluted loss per share calculations are the same since the increased number of shares that would be included in the diluted calculation from the assumed exercise of stock equivalents would be anti-dilutive to the net loss in each of the years presented in the financial statements. The calculations of net loss per share excluded potentially dilutive securities (consisting of outstanding options, warrants, restricted stock and restricted stock units) of approximately 5.9 million and 5.6 million shares as of September 30, 2017 and 2016, respectively.
Recently Adopted Accounting Standards / Recent Accounting Pronouncements	Recently Adopted Accounting Standards In March 2016, the FASB issued ASU 2016-09, Compensation–Stock Compensation: Improvements to Employee Share-Based Payment Accounting Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Update (“ASU”) 2016-02, Leases In May 2017, the FASB issued ASU 2017-09, Stock Compensation (Topic 718), Scope of Modification Accounting
Fair Value Measurements	The Company holds investment securities that consist of highly liquid, investment grade debt securities. The Company determines the fair value of its investment securities based upon one or more valuations reported by its investment accounting and reporting service provider. The investment service provider values the securities using a hierarchical security pricing model that relies primarily on valuations provided by an industry-recognized valuation service. Such valuations may be based on trade prices in active markets for identical assets or liabilities (Level 1 inputs) or valuation models using inputs that are observable either directly or indirectly (Level 2 inputs), such as quoted prices for similar assets or liabilities, yield curves, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, and broker and dealer quotes, as well as other relevant economic measures. The Company’s financial assets measured at fair value on a recurring basis were as follows ( in thousands As of September 30, 2017 As of December 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investment securities: Commercial paper $ — $ 70,669 $ — $ 70,669 $ — $ 8,996 $ — $ 8,996 Corporate debt securities — 14,118 — 14,118 — 49,125 — 49,125 U.S. government and agency obligations 30,457 — — 30,457 50,499 — — 50,499 Total assets at fair value $ 30,457 $ 84,787 $ — $ 115,244 $ 50,499 $ 58,121 $ — $ 108,620

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2017
Investments Schedule [Abstract]
Summary of Available for Sale Investment Securities Held by the Company	Following is a summary of the available-for-sale investment securities held by the Company as of the dates below ( in thousands As of September 30, 2017 Gross Gross Fair Amortized Unrealized Unrealized Market Gross Gains Losses Value Available-for-sale investment securities: Commercial paper $ 70,669 $ — $ — $ 70,669 Corporate debt securities 14,122 — (4 ) 14,118 U.S. government and agency obligations 30,496 — (39 ) 30,457 Total $ 115,287 $ — $ (43 ) $ 115,244 As of December 31, 2016 Gross Gross Fair Amortized Unrealized Unrealized Market Gross Gains Losses Value Available-for-sale investment securities: Commercial paper $ 8,996 $ — $ — $ 8,996 Corporate debt securities 49,179 1 (55 ) 49,125 U.S. government and agency obligations 50,568 1 (70 ) 50,499 Total $ 108,743 $ 2 $ (125 ) $ 108,620

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis	The Company’s financial assets measured at fair value on a recurring basis were as follows ( in thousands As of September 30, 2017 As of December 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investment securities: Commercial paper $ — $ 70,669 $ — $ 70,669 $ — $ 8,996 $ — $ 8,996 Corporate debt securities — 14,118 — 14,118 — 49,125 — 49,125 U.S. government and agency obligations 30,457 — — 30,457 50,499 — — 50,499 Total assets at fair value $ 30,457 $ 84,787 $ — $ 115,244 $ 50,499 $ 58,121 $ — $ 108,620

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following ( in thousands September 30, 2017 December 31, 2016 Lab and manufacturing equipment $ 6,528 $ 7,656 Office and computer equipment 2,078 1,762 Leasehold improvements 275 374 Property and equipment at cost 8,881 9,792 Accumulated depreciation and amortization (4,499 ) (3,522 ) Property and equipment, net $ 4,382 $ 6,270
Schedule of Other Long-term Liabilities	Other long-term liabilities consisted of the following ( in thousands September 30, 2017 December 31, 2016 Obligation due to licensor (note 7) $ 6,550 $ — Deferred rent 3,709 1,510 Final loan fee obligation to lender (note 6) 1,600 1,600 Other long-term liabilities $ 11,859 $ 3,110

Term Loan Facility (Tables)

Term Loan Facility (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Future Minimum Principal Payments	Future minimum principal payments of approximately $1.1 million commence in February 2019 and are due monthly through July 2021 as follows ( in thousands Year ending December 31, Minimum Principal Payments 2017 (3 months) and 2018 $ — 2019 11,733 2020 12,800 2021 7,467 Total $ 32,000

Equity Awards (Tables)

Equity Awards (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Option Activity and Other Related Information	A summary of the Company’s option activity and other related information is as follows: Weighted- Weighted- Aggregate Average Average Intrinsic Options Exercise Remaining Value Outstanding Price Term (000’s) Balance at December 31, 2016 5,109,285 $ 8.86 Granted 1,086,419 $ 6.10 Exercised (226,947 ) $ 7.59 Forfeited and expired (403,400 ) $ 13.09 Balance at September 30, 2017 5,565,357 $ 8.07 7.6 $ 24,161 Exercisable at September 30, 2017 2,967,526 $ 8.04 6.8 $ 13,029
Assumptions Used to Estimate Weighted-Average Grand Date Fair Value of Options Granted	The fair value of options granted during the first nine months of 2017 and 2016 was $4.17 and $5.35 per share, respectively, and was estimated using the following weighted-average assumptions: Fiscal Fiscal 2017 2016 Expected life of option 6.2 years 6.0 years Volatility 78% 73% Risk free interest rate 2.0% 1.4% Dividend yield —% —%
Summary of Stock-Based Compensation Expense for Equity Awards Issued to Employees and Non-Employees	The following table summarizes stock-based compensation expense during the periods presented for all equity awards issued to employees and non-employees ( in thousands Three months ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Included in research and development $ 507 $ 992 $ 3,145 $ 2,613 Included in general and administrative 973 1,044 2,556 2,823 Total $ 1,480 $ 2,036 $ 5,701 $ 5,436

Organization - Additional Infor

Organization - Additional Information (Detail) $ in Thousands	Oct. 24, 2017USD ($)shares	Oct. 31, 2017USD ($)shares	May 31, 2017USD ($)shares	May 31, 2016USD ($)shares	Sep. 30, 2017USD ($)Segment	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Organization [Line Items]
Number of operating segment | Segment					1
Net cash used in operating activities					$ (72,283)	$ (71,423)
Accumulated deficit					(348,701)		$ (251,660)
Cash, cash equivalents and investment securities					$ 144,800
Common Stock [Member]
Organization [Line Items]
Stock issued and sold | shares			14,375,000	9,200,000
Net proceeds from issuance of shares			$ 82,800	$ 53,900
Common Stock [Member] | Subsequent Event [Member]
Organization [Line Items]
Stock issued and sold | shares	10,000,000	10,000,000
Net proceeds from issuance of shares	$ 150,000	$ 150,000

Summary of Significant Accoun24

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Accounting Policies [Abstract]
Other-than-temporary impairment charges	$ 0
Antidilutive securities excluded from computation of earnings per share	5.9	5.6

Investment Securities - Summary

Investment Securities - Summary of Available for Sale Investment Securities Held by the Company (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investment securities, Amortized Gross	$ 115,287	$ 108,743
Available-for-sale investment securities, Gross Unrealized Gains		2
Available-for-sale investment securities, Gross Unrealized Losses	(43)	(125)
Available-for-sale investment securities, Fair Market Value	115,244	108,620
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investment securities, Amortized Gross	70,669	8,996
Available-for-sale investment securities, Fair Market Value	70,669	8,996
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investment securities, Amortized Gross	14,122	49,179
Available-for-sale investment securities, Gross Unrealized Gains		1
Available-for-sale investment securities, Gross Unrealized Losses	(4)	(55)
Available-for-sale investment securities, Fair Market Value	14,118	49,125
U.S. Government and Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale investment securities, Amortized Gross	30,496	50,568
Available-for-sale investment securities, Gross Unrealized Gains		1
Available-for-sale investment securities, Gross Unrealized Losses	(39)	(70)
Available-for-sale investment securities, Fair Market Value	$ 30,457	$ 50,499

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	$ 115,244	$ 108,620
Total assets at fair value	115,244	108,620
Investment Securities [Member] | Commercial Paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	70,669	8,996
Investment Securities [Member] | Corporate Debt Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	14,118	49,125
Investment Securities [Member] | U.S. Government and Agency Obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	30,457	50,499
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets at fair value	30,457	50,499
Level 1 [Member] | Investment Securities [Member] | U.S. Government and Agency Obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	30,457	50,499
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets at fair value	84,787	58,121
Level 2 [Member] | Investment Securities [Member] | Commercial Paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	70,669	8,996
Level 2 [Member] | Investment Securities [Member] | Corporate Debt Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	$ 14,118	$ 49,125

Balance Sheet Details - Schedul

Balance Sheet Details - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property Plant And Equipment [Abstract]
Lab and manufacturing equipment	$ 6,528	$ 7,656
Office and computer equipment	2,078	1,762
Leasehold improvements	275	374
Property and equipment at cost	8,881	9,792
Accumulated depreciation and amortization	(4,499)	(3,522)
Property and equipment, net	$ 4,382	$ 6,270

Balance Sheet Details - Sched28

Balance Sheet Details - Schedule of Other Long-term Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other Liabilities [Abstract]
Obligation due to licensor (note 7)	$ 6,550
Deferred rent	3,709	$ 1,510
Final loan fee obligation to lender (note 6)	1,600	1,600
Other long-term liabilities	$ 11,859	$ 3,110

Term Loan Facility - Additional

Term Loan Facility - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Total debt			$ 32,000,000
Loss on debt extinguishment				$ 696,000
Silicon Valley Bank [Member]
Debt Instrument [Line Items]
Total debt	$ 32,000,000	$ 32,000,000
Loss on debt extinguishment		700,000
Term loan facility, interest rate			8.60%
Term loan facility, payment terms			Borrowings under the new facility will bear interest at a rate equal to the Prime Rate plus 4.35% (8.60% at September 30, 2017) and have interest only payments for thirty months, followed by a principal amortization period of thirty months.
Final lump-sum payment at maturity as a percentage of principal amount	5.00%
Lump sum payment to be paid	$ 1,600,000	$ 1,600,000
Prepayment fee percentage on principal loan prepaid	1.00%
Debt Instrument, covenant description			The Company must also maintain the majority of its cash in accounts at SVB. Upon the occurrence of an event of default, subject to cure periods for certain events of default, all amounts owed by the Company thereunder shall begin to bear interest at a rate that is 3% higher than the rate that is otherwise applicable and may be declared immediately due and payable by the Lenders.
Silicon Valley Bank [Member] | New Loan Agreement [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Principal payments			$ 1,100,000
New loan agreement maturity date			Jul. 31, 2021
Silicon Valley Bank [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Term loan facility, variable interest rate			4.35%

Term Loan Facility - Future Min

Term Loan Facility - Future Minimum Principal Payments (Detail) $ in Thousands	Sep. 30, 2017USD ($)
Debt Disclosure [Abstract]
2017 (3 months) and 2018	$ 0
2,019	11,733
2,020	12,800
2,021	7,467
Total	$ 32,000

License Agreements - Additional

License Agreements - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 06, 2013	Dec. 31, 2014	Nov. 30, 2013	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
License agreement term							5 years
Research and development expenses				$ 21,669		$ 16,626	$ 77,887	$ 56,425
Amended and Restated Licensing Agreement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Research and development expenses					$ 12,800
Percentage of license agreement discounted incremental borrowing rate					10.10%
Amount of discount accreted to research and development expenses					$ 2,200
Research and development expense accreted period					36 months
Amended and Restated Licensing Agreement [Member] | Time Based Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Contingent milestone payments					$ 15,000
License payments					$ 3,000
Amended and Restated Licensing Agreement [Member] | Sales Based Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Contingent milestone payments				20,000			$ 20,000
Daiichi Sankyo [Member] | RXDX-105 and RXDX-106 [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
License agreement termination notice period							90 days
Daiichi Sankyo [Member] | RXDX-108 [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
License expiration term							10 years
License Agreements [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Contingent milestone payments				12,000			$ 12,000
License payments		$ 10,000	$ 7,000				17,000
License Agreements [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Contingent milestone payments	$ 105,000
Royalties percentage	15.00%
License Agreements [Member] | Maximum [Member] | Daiichi Sankyo [Member] | RXDX-105 [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Contingent milestone payments				44,500			44,500
License Agreements [Member] | Maximum [Member] | Daiichi Sankyo [Member] | RXDX-106 [Member] | Upon Achievement of Development Regulatory and Sales Milestones [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Contingent milestone payments				$ 47,500			$ 47,500
License Agreements [Member] | Minimum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Royalties percentage	10.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Loss Contingencies [Line Items]
Clinical expenses incurred to date	$ 40.4
Research and Development Arrangement [Member]
Loss Contingencies [Line Items]
Clinical expenses total contracted cost	$ 71.1
Office Space and Lab Equipment [Member]
Loss Contingencies [Line Items]
Operating leases, expiration dates	Operating leases that expire through 2026
Future minimum lease payments	$ 24.1

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			9 Months Ended
	May 31, 2017	May 31, 2016	Dec. 31, 2015	Sep. 30, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Common stock, shares authorized				150,000,000	150,000,000
Preferred stock, shares authorized				10,000,000	10,000,000
Common Stock, voting right description				Common stock is entitled to one vote, and all shares rank equally as to voting and other matters.
Common Stock Warrant [Member]
Class of Stock [Line Items]
Warrant to purchase stock, shares				98,698
Warrant to purchase stock, weighted average exercise price per share				$ 5.83
Common Stock Warrant [Member] | Maximum [Member]
Class of Stock [Line Items]
Warrants expiration date				2023-06
License Agreements [Member] | Shelf Registration Statement [Member]
Class of Stock [Line Items]
Percentage of commission paid on gross proceeds of sales			3.00%
Common stock value			$ 33
Common Stock [Member]
Class of Stock [Line Items]
Stock issued and sold	14,375,000	9,200,000
Net proceeds from issuance of shares	$ 82.8	$ 53.9
Transaction costs	$ 5.7	$ 3.6

Equity Awards - Additional Info

Equity Awards - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Aug. 31, 2017	Jun. 11, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated weighted-average fair value of stock options granted	$ 4.17	$ 5.35
Unrecognized stock-based compensation expense related to unvested stock-based awards	$ 11.7
2017 Inducement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional equity grants	0
Employee and Non-employee Stock Options [Member] | 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of equity awards				6,000,000
Employee and Non-employee Stock Options [Member] | 2014 Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of options	10 years
Employee and Non-employee Stock Options [Member] | 2011 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued for each share subject to a stock option granted	100.00%
Employees [Member] | 2017 Inducement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of equity awards			1,000,000
Employees [Member] | 2017 Inducement Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of options	10 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock-based awards, weighted average period of recognition	2 years 3 months 19 days
Stock Options [Member] | 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that remained available for grant	3,623,480
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares subject to future vesting	231,520

Equity Awards - Summary of Opti

Equity Awards - Summary of Option Activity and Other Related Information (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Balance at beginning of period, Options Outstanding | shares	5,109,285
Granted, Options Outstanding | shares	1,086,419
Exercised, Options Outstanding | shares	(226,947)
Forfeited and expired, Options Outstanding | shares	(403,400)
Balance at end of period, Options Outstanding | shares	5,565,357
Exercisable at end of period, Options Outstanding | shares	2,967,526
Balance at beginning of period, Weighted-Average Exercise Price | $ / shares	$ 8.86
Granted, Weighted-Average Exercise Price | $ / shares	6.10
Exercised, Weighted-Average Exercise Price | $ / shares	7.59
Forfeited and expired, Weighted-Average Exercise Price | $ / shares	13.09
Balance at end of period, Weighted-Average Exercise Price | $ / shares	8.07
Exercisable at end of period, Weighted-Average Exercise Price | $ / shares	$ 8.04
Balance at end of period, Weighted- Average Remaining Term	7 years 7 months 6 days
Exercisable at end of period, Weighted- Average Remaining Term	6 years 9 months 18 days
Balance at end of period, Aggregate Intrinsic Value | $	$ 24,161
Exercisable at end of period, Aggregate Intrinsic Value | $	$ 13,029

Equity Awards - Assumptions Use

Equity Awards - Assumptions Used to Estimate Weighted-Average Grand Date Fair Value of Option Granted (Detail)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected life of option	6 years 2 months 13 days	6 years
Volatility	78.00%	73.00%
Risk free interest rate	2.00%	1.40%

Equity Awards - Summary of Stoc

Equity Awards - Summary of Stock-Based Compensation Expense for Equity Awards Issued to Employees and Non-Employees (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense for employees and non-employees	$ 1,480	$ 2,036	$ 5,701	$ 5,436
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense for employees and non-employees	507	992	3,145	2,613
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense for employees and non-employees	$ 973	$ 1,044	$ 2,556	$ 2,823

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions	Oct. 24, 2017	Oct. 31, 2017	May 31, 2017	May 31, 2016	Nov. 01, 2017	Sep. 30, 2017
License Agreements [Member]
Subsequent Event [Line Items]
Contingent milestone payments						$ 12
Subsequent Event [Member] | License Agreements [Member]
Subsequent Event [Line Items]
Contingent milestone payments					$ 12
Common Stock [Member]
Subsequent Event [Line Items]
Stock issued and sold			14,375,000	9,200,000
Net proceeds from issuance of shares			$ 82.8	$ 53.9
Transaction costs			$ 5.7	$ 3.6
Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Stock issued and sold	10,000,000	10,000,000
Net proceeds from issuance of shares	$ 150	$ 150
Transaction costs	$ 10