Intra-Cellular Therapies (ITCI) 10-K 12 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 11, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	ITCI
Entity Registrant Name	Intra-Cellular Therapies, Inc.
Entity Central Index Key	1567514
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		34,928,424
Entity Public Float			$240,663,855

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$61,325,044	$35,150,924
Investment securities, available-for-sale	68,320,672	2,000,000
Accounts receivable	51,603	336,318
Prepaid expenses and other current assets	1,288,953	762,243
Total current assets	130,986,272	38,249,485
Property and equipment, net	54,553	68,272
Other assets	70,944	131,555
Total assets	131,111,769	38,449,312
Current liabilities:
Accounts payable	2,052,765	3,395,067
Accrued and other current liabilities	7,529,241	2,611,091
Accrued employee benefits	975,058	827,879
Total current liabilities	10,557,064	6,834,037
Stockholders' equity:
Common stock, $.0001 par value: 100,000,000 shares authorized; 29,499,059 and 22,159,446 shares issued and outstanding at December 31, 2014 and 2013, respectively	2,950	2,216
Additional paid-in capital	208,912,345	89,177,556
Accumulated deficit	-88,255,957	-57,564,497
Accumulated comprehensive loss	-104,633
Total stockholders' equity	120,554,705	31,615,275
Total liabilities and stockholders' equity	$131,111,769	$38,449,312

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	29,499,059	22,159,446
Common stock, shares outstanding	29,499,059	22,159,446

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues:
License and collaboration revenue	$547,546	$2,737,002	$3,117,991
Grant Revenue	29,755
Total revenues	577,301	2,737,002	3,117,991
Costs and expenses:
Research and development	21,226,345	23,027,578	15,486,476
General and administrative	10,337,679	5,976,276	4,034,925
Total costs and expenses	31,564,024	29,003,854	19,521,401
Loss from operations	-30,986,723	-26,266,852	-16,403,410
Interest income	303,936	29,617	39,002
Interest expense	-7,073	-612,963	-193,498
Income taxes	-1,600	-18,000	-32,921
Net loss	($30,691,460)	($26,868,198)	($16,590,827)
Net loss per common share:
Basic & Diluted	($1.07)	($1.56)	($2.96)
Weighted average number of common shares:
Basic & Diluted	28,650,067	17,260,768	5,607,539

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net loss	($30,691,460)	($26,868,198)	($16,590,827)
Other comprehensive loss:
Unrealized loss on investment securities	-104,633
Comprehensive loss	($30,796,093)	($26,868,198)	($16,590,827)

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at Dec. 31, 2011	$17,892,303	$1,215	$31,996,560	($14,105,472)
Balance, shares at Dec. 31, 2011		12,149,061
Exercise of stock options	31,081	3	31,078
Exercise of stock options, shares		33,270
Conversion of convertible notes, shares		2,417,281
Conversion of convertible notes	15,356,422	242	15,356,180
Share-based compensation	295,106		295,106
Net loss	-16,590,827			-16,590,827
Balance at Dec. 31, 2012	16,984,085	1,460	47,678,924	-30,696,299
Balance, shares at Dec. 31, 2012		14,599,612
Exercise of stock options	332,938	51	332,887
Exercise of stock options, shares		514,466
Conversion of convertible notes, shares		110,446
Conversion of convertible notes	701,723	11	701,712
Private placement of common stock	39,963,500	692	39,962,808
Private placement of common stock, shares		6,916,697
Share-based compensation	391,393		391,393
Stock subscription, shares		18,225
Stock subscription	109,834	2	109,832
Net loss	-26,868,198			-26,868,198
Balance at Dec. 31, 2013	31,615,275	2,216	89,177,556	-57,564,497
Balance, shares at Dec. 31, 2013		22,159,446
Common shares issued February 5, 2014	115,442,747	706	115,442,041
Common shares issued February 5, 2014,shares		7,063,300
Exercise of stock options	162,980	25	162,955
Exercise of stock options, shares	247,165	247,165
Stock issued for services	176,085	1	176,084
Stock issued for services, shares		10,923
Stock subscription	109,833	2	109,831
Share-based compensation	3,843,878		3,843,878
Stock subscription, shares		18,225
Net loss	-30,691,460			-30,691,460
Other comprehensive loss	-104,633				-104,633
Balance at Dec. 31, 2014	$120,554,705	$2,950	$208,912,345	($88,255,957)	($104,633)
Balance, shares at Dec. 31, 2014		29,499,059

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities
Net loss	($30,691,460)	($26,868,198)	($16,590,827)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation expense	25,481	23,249	47,747
Share-based compensation expense	3,843,878	391,393	295,106
Issuance of stock for services	176,085
Amortization of premiums on investment activities	297,223
Changes in operating assets and liabilities:
Accounts receivable	284,715	-35,889	48,634
Prepaid expenses and other assets	-466,099	-574,341	-34,189
Accounts payable	-1,342,302	3,353,459	-554,256
Accrued liabilities and employee benefits	5,065,329	2,785,736	-448,493
Deferred revenue		-1,666,674	-1,666,659
Net cash used in operating activities	-22,807,150	-22,591,265	-18,902,937
Investing activities
Purchases of investments	-103,601,836		-12,000,000
Maturities of investments	36,879,308	1,500,000	17,700,122
Purchase of property and equipment	-11,762	-33,255	-38,957
Net cash (used in) provided by investing activities	-66,734,290	1,466,745	5,661,165
Financing activities
Proceeds from issuance of convertible promissory notes, net		100,000	15,163,004
Proceeds from stock option exercises	162,980	332,938	31,081
Proceeds from stock subscription	109,833	109,834
Gross proceeds of public and private offerings	116,191,285	43,841,850
Payment of costs of public and private offerings	-748,538	-3,754,706
Net cash provided by financing activities	115,715,560	40,629,916	15,194,085
Net increase in cash and cash equivalents	26,174,120	19,505,396	1,952,313
Cash and cash equivalents at beginning of period	35,150,924	15,645,528	13,693,215
Cash and cash equivalents at end of period	61,325,044	35,150,924	15,645,528
Cash paid for interest	7,073	11,320
Cash paid for taxes	44,998	31,437	13,857
Unrealized loss on investment securities	($104,633)

Organization

Organization	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Organization	1. Organization
	Intra-Cellular Therapies, Inc. (the “Company”), through its wholly-owned operating subsidiary, ITI, Inc. (“ITI”), is a biopharmaceutical company focused on the discovery and clinical development of innovative, small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system (“CNS”). The Company’s lead product candidate, ITI-007, is in Phase 3 clinical development as a first-in-class treatment for schizophrenia.
	ITI was incorporated in the State of Delaware on May 22, 2001 under the name “Intra-Cellular Therapies, Inc.” and commenced operations in June 2002. ITI was founded to discover and develop drugs for the treatment of neurological and psychiatric disorders.
	On August 29, 2013, ITI completed a reverse merger (the “Merger”) with a public shell company named Oneida Resources Corp. (“Oneida”). Oneida was formed in August 2012 as a vehicle to investigate and, if such investigation warranted, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. In the Merger, each outstanding share of capital stock of ITI was exchanged for 0.5 shares of common stock of Oneida, and each outstanding option to purchase one share of ITI common stock and each outstanding warrant to purchase one share of ITI common stock was assumed by Oneida and became exercisable for 0.5 shares of Oneida common stock. As a result of the Merger and related transactions, ITI survived as a wholly-owned subsidiary of Oneida, Oneida changed its fiscal year end from March 31 to December 31, and Oneida changed its name to Intra-Cellular Therapies, Inc. (the “Company”). In addition, the Company began operating ITI and its business, and therefore ceased being a shell company. Following the Merger and the redemption of all then outstanding shares of Oneida at the closing of the Merger, the former shareholders of ITI owned 100% of the shares of the Company’s outstanding capital stock.
	In accordance with Financial Accounting Standards Board (“FASB”), Accounting Standards Codification (“ASC”) Topic 805, Business Combinations, ITI is considered the acquirer for accounting purposes, and has accounted for the transaction as a capital transaction, because ITI’s former stockholders received 100% of the voting rights in the combined entity and ITI’s senior management represented all of the senior management of the combined entity. Consequently, the assets and liabilities and the historical operations that are reflected in the Company’s consolidated financial statements are those of ITI and have been recorded at the historical cost basis of the Company. All share and per share amounts in the consolidated financial statements and related notes have been retrospectively adjusted to reflect the one-for-0.5 shares of capital stock exchange as well as the conversion of the Notes (defined below) and the Series A, B, and C redeemable convertible preferred stock of ITI.
	Immediately prior to the Merger, on August 29, 2013, ITI sold to accredited investors approximately $60.0 million of its shares of common stock, or 18,889,307 shares at a price of $3.1764 per share (the “Private Placement”), which included $15.3 million in principal and $0.8 million in accrued interest from the conversion of ITI’s then outstanding convertible promissory notes (the “Notes”).
	On February 5, 2014, the Company completed a public offering of common stock in which the Company sold 7,063,300 shares of common stock, which included the exercise of the underwriters’ option to purchase an additional 921,300 shares, at an offering price of $17.50 per share. After deducting underwriting discounts, commissions and offering expenses, the net proceeds to the Company were approximately $115.4 million.
	On October 31, 2014, the Company entered into a termination agreement with Takeda Pharmaceutical Company Limited (“Takeda”) terminating the worldwide license and collaboration agreement under which the Company and Takeda were jointly developing the Company’s proprietary compound ITI-214 and other selected compounds that selectively inhibit phosphodiesterase type 1 (“PDE1”) for use in the prevention and treatment of human diseases. Through December 31, 2014, the Company had received $28.9 million in total payments under the agreement and was eligible to receive milestone payments and royalties based on net sales. The Company is in the process of refining its strategy for the PDE1 inhibitor program.
	In order to further its research projects and support its collaborations, the Company will require additional financing until such time, if ever, that revenue streams are sufficient to generate consistent positive cash flow from operations. Possible sources of funds include public or private sales of the Company’s equity securities, sales of debt securities, the incurrence of debt from commercial lenders, strategic collaborations, licensing a portion or all of the Company’s product candidates and technology and, to a lesser extent, grant funding. On August 29, 2014, the Company filed a universal shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (the “SEC”) on September 15, 2014, to register $150 million of the Company’s common stock, preferred stock, various series of debt securities, warrants, rights and purchase contracts to purchase any of such securities, either individually or in units, for issuance from time to time at prices and on terms to be determined at the time of any such offering. This registration statement will remain in effect for up to three years from the initial effective date.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies
	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although actual results could differ from those estimates, management does not believe that such differences would be material.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents. Cash and cash equivalents consist of checking accounts, money market accounts, money market funds, and certificates of deposit with a maturity date of three months or less. Certificates of deposit, commercial paper, corporate notes and corporate bonds with a maturity date of more than three months are classified separately on the balance sheet. Their carrying values approximate the fair market value.
	Marketable Securities
	Marketable securities may consist of investments in U.S. Treasuries, various U.S. governmental agency debt securities, corporate bonds, certificates of deposit, and other fixed income securities with an average maturity of twelve months or less. Management classifies the Company’s investments as available-for-sale. Such securities are carried at estimated fair value, with any unrealized holding gains or losses reported, net of any tax effects reported, as accumulated other comprehensive income, which is a separate component of stockholders’ equity. Realized gains and losses, and declines in value judged to be other-than-temporary, if any, are included in consolidated results of operations. A decline in the market value of any available-for-sale security below cost that is deemed to be other-than-temporary results in a reduction in fair value, which is charged to earnings in that period, and a new cost basis for the security is established. Dividend and interest income is recognized as interest income when earned. The cost of securities sold is calculated using the specific identification method.
	Investment Securities
	Investment securities consisted of the following (in thousands):
			December 31, 2014
			Amortized		Unrealized		Unrealized			Estimated
			Cost		Gains		(Losses)			Fair
										Value
			(unaudited)
	U.S. Government Agency Securities		$	4,316	$	—	$	(3	)	$	4,313
	FDIC Certificates of Deposit			16,374		—		(14	)		16,360
	Certificates of Deposit			2,000		—		—			2,000
	Commercial Paper			9,743		1		—			9,744
	Corporate Notes/Bonds			35,992		—		(89	)		35,903
			$	68,425	$	1	$	(106	)	$	68,320
			December 31, 2013
			Amortized		Unrealized		Unrealized			Estimated
			Cost		Gains		(Losses)			Fair
										Value
	Certificates of Deposit		$	2,000		—		—		$	2,000
			$	2,000	$	—	$	—		$	2,000
	The Company has classified all of its investment securities available-for-sale, including those with maturities beyond one year, as current assets on the consolidated balance sheets based on the highly liquid nature of the investment securities and because these investment securities are considered available for use in current operations. As of December 31, 2014 and December 31, 2013, the Company held $31.8 million and $0, respectively, of available-for-sale investment securities with contractual maturity dates more than one year and less than two years.
	Fair Value Measurements
	The Company applies the fair value method under ASC Topic 820, Fair Value Measurements and Disclosures. ASC Topic 820 defines fair value, establishes a fair value hierarchy for assets and liabilities measured at fair value and requires expanded disclosures about fair value measurements. The ASC Topic 820 hierarchy ranks the quality and reliability of inputs, or assumptions, used in the determination of fair value and requires assets and liabilities carried at fair value to be classified and disclosed in one of the following categories based on the lowest level input used that is significant to a particular fair value measurement:
		•		Level 1—Fair value is determined by using unadjusted quoted prices that are available in active markets for identical assets and liabilities.
		•		Level 2—Fair value is determined by using inputs other than Level 1 quoted prices that are directly or indirectly observable. Inputs can include quoted prices for similar assets and liabilities in active markets or quoted prices for identical assets and liabilities in inactive markets. Related inputs can also include those used in valuation or other pricing models, such as interest rates and yield curves that can be corroborated by observable market data.
		•		Level 3—Fair value is determined by inputs that are unobservable and not corroborated by market data. Use of these inputs involves significant and subjective judgments to be made by a reporting entity—e.g., determining an appropriate adjustment to a discount factor for illiquidity associated with a given security.
	The Company evaluates financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them each reporting period. This determination requires the Company to make subjective judgments as to the significance of inputs used in determining fair value and where such inputs lie within the ASC Topic 820 hierarchy.
	The Company has no assets or liabilities that were measured using quoted prices for significant unobservable inputs (Level 3 assets and liabilities) as of December 31, 2014 and December 31, 2013. The carrying value of cash held in money market funds of approximately $8.5 million as of December 31, 2014 and $0.0 million as of December 31, 2013, is included in cash and cash equivalents and approximates market value based on quoted market price or Level 1 inputs.
	The fair value measurements of the Company’s cash equivalents and available-for-sale investment securities are identified in the following tables (in thousands):
					Fair Value Measurements at
					Reporting Date Using
			December 31,		Quoted Prices		Significant			Significant
			2014		in Active		Other			Unobservable
					Markets for		Observable			Inputs
					Identical		Inputs			(Level 3)
					Assets		(Level 2)
					(Level 1)
	Money market funds		$	8,495	$	8,495	$	—		$	—
	U.S. Government Agency Securities			4,313		—		4,313			—
	FDIC certificates of deposit			16,360		—		16,360			—
	Certificates of deposit			41,000		—		41,000			—
	Commercial paper			9,744		—		9,744			—
	Corporate Bonds/Notes			35,903		—		35,903			—
			$	115,815	$	8,495	$	107,320		$	—
					Fair Value Measurements at
					Reporting Date Using
			December 31,		Quoted Prices		Significant			Significant
			2013		in Active		Other			Unobservable
					Markets for		Observable			Inputs
					Identical		Inputs			(Level 3)
					Assets		(Level 2)
					(Level 1)
	Certificates of deposit			6,000		—		6,000			—
			$	6,000	$	—	$	6,000		$	—
	Financial Instruments
	The Company considers the recorded costs of its financial assets and liabilities, which consist of cash equivalents, investment securities available-for-sale, accounts receivable, accounts payable and accrued liabilities, to approximate their fair value because of their relatively short maturities at December 31, 2014 and December 31, 2013. Management believes that the risks associated with its financial instruments are minimal as the counterparties are various corporations, financial institutions and government agencies of high credit standing.
	Concentration of Credit Risk
	Cash equivalents are held with major financial institutions in the United States. Certificates of deposit held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and, therefore, bear minimal risk.
Accounts Receivable
Accounts receivable that management has the intent and ability to collect are reported in the balance sheets at outstanding amounts, less an allowance for doubtful accounts. The Company writes off uncollectible receivables when the likelihood of collection is remote.
The Company evaluates the collectability of accounts receivable on a regular basis. The allowance, if any, is based upon various factors including the financial condition and payment history of customers, an overall review of collections experience on other accounts and economic factors or events expected to affect future collections experience. No allowance was recorded as of December 31, 2014 and 2013, as the Company has a history of collecting on all its accounts including government agencies and collaborations funding its research.
Property and Equipment
Property and equipment is stated at cost and depreciated on a straight-line basis over estimated useful lives ranging from three to five years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the assets or the term of the related lease. Expenditures for maintenance and repairs are charged to operations as incurred.
When indicators of possible impairment are identified, the Company evaluates the recoverability of the carrying value of its long-lived assets based on the criteria established in ASC 360, Property, Plant and Equipment. The Company considers historical performance and anticipated future results in its evaluation of potential impairment. The Company evaluates the carrying value of those assets in relation to the operating performance of the business and undiscounted cash flows expected to result from the use of those assets. Impairment losses are recognized when carrying value exceeds the undiscounted cash flows, in which case management must determine the fair value of the underlying asset. No such impairment losses have been recognized to date.
Revenue Recognition
Revenue is recognized when all terms and conditions of the agreements have been met, including persuasive evidence of an arrangement, delivery has occurred or services have been rendered, price is fixed or determinable and collectability is reasonably assured. The Company is reimbursed for certain costs incurred on specified research projects under the terms and conditions of grants, collaboration agreements, and awards. The Company records the amount of reimbursement as revenues on a gross basis in accordance with ASC Topic 605-45, Revenue Recognition/Principal Agent Considerations. The Company is the primary obligor with respect to purchasing goods and services from third-party suppliers, is obligated to compensate the service provider for the work performed, and has discretion in selecting the supplier. Provisions for estimated losses on research grant projects and any other contracts are made in the period such losses are determined.
The Company has entered into arrangements involving the delivery of more than one element. Each required deliverable is evaluated to determine whether it qualifies as a separate unit of accounting. For the Company, this determination is generally based on whether the deliverable has “stand-alone value” to the customer. The Company adopted this accounting standard on a prospective basis for all Multiple-Deliverable Revenue Arrangements (“MDRAs”) entered into on or after January 1, 2011, and for any MDRAs that were entered into prior to January 1, 2011, but materially modified on or after that date.
The Company adopted ASC Topic 605-28, Milestone Method. Under this guidance, the Company recognizes revenue contingent upon the achievement of a substantive milestone in its entirety in the period the milestone is achieved. Substantive milestone payments are recognized upon achievement of the milestone only if all of the following conditions are met:
	•		The milestone payments are non-refundable;
	•		Achievement of the milestone involves a degree of risk and was not reasonably assured at the inception of the arrangement;
	•		Substantive effort on the Company’s part is involved in achieving the milestone;
	•		The amount of the milestone payment is reasonable in relation to the effort expended or the risk associated with achievement of the milestone; and
	•		A reasonable amount of time passes between the up-front license payment and the first milestone payment, as well as between each subsequent milestone payment.
Determination as to whether a payment meets the aforementioned conditions involves management’s judgment. If any of these conditions are not met, the resulting payment would not be considered a substantive milestone, and therefore, the resulting payment would be considered part of the consideration for the single unit of accounting and be recognized as revenue in accordance with the revenue models described above. In addition, the determination that one such payment was not a substantive milestone could prevent the Company from concluding that subsequent milestone payments were substantive milestones and, as a result, any additional milestone payments could also be considered part of the consideration for the single unit of accounting and would be recognized as revenue as such performance obligations are performed under either the proportional performance or straight-line methods, as applicable.
Deferred Revenue
Cash received as prepayment on future services is deferred and recognized as revenue as the services are performed. The Company must remit interest on any deferred revenue related to a governmental agency. As of December 31, 2014 and 2013, no interest was due as the Company did not have any deferred revenue from a government agency.
Research and Development
Except for payments made in advance of services, the Company expenses its research and development costs as incurred. For payments made in advance, the Company recognizes research and development expense as the services are rendered. Research and development costs primarily consist of salaries and related expenses for personnel and resources and the costs of clinical trials. Other research and development expenses include preclinical analytical testing, outside services, providers, materials and consulting fees.
Income Taxes
Income taxes are accounted for using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and its respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled.
The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce net deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable for the period and the change during the period in deferred tax assets and liabilities.
The Company accounts for uncertain tax positions pursuant to ASC Topic 740 (previously included in FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes—an Interpretation of FASB Statement No. 109). Financial statement recognition of a tax position taken or expected to be taken in a tax return is determined based on a more-likely-than-not threshold of that position being sustained. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes.
Comprehensive Income (Loss)
All components of comprehensive income (loss), including net income (loss), are reported in the financial statements in the period in which they are incurred. Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. In accordance with accounting guidance, the Company presents the impact of any unrealized gains or (losses) on its investment securities in a separate statement of comprehensive income (loss) for each period.
Share-Based Compensation
Share-based payments are accounted for in accordance with the provisions of ASC Topic 718, Compensation—Stock Compensation. The fair value of share-based payments is estimated, on the date of grant, using the Black-Scholes-Merton option-pricing model (the “Black-Scholes model”). The resulting fair value is recognized ratably over the requisite service period, which is generally the vesting period of the option.
For all awards granted with time-based vesting conditions, expense is amortized using the straight-line attribution method. For awards that contain a performance-based vesting condition, expense is amortized using the accelerated attribution method. As share-based compensation expense recognized in the statements of operations for the years ended December 31, 2014, 2013 and 2012 is based on share-based awards ultimately expected to vest, it has been reduced for estimated forfeitures. ASC Topic 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Pre-vesting forfeitures are based on the Company’s historical experience for the years ended December 31, 2014, 2013 and 2012, and have not been material.
The Company utilizes the Black-Scholes model for estimating fair value of its stock options granted. Option valuation models, including the Black-Scholes model, require the input of subjective assumptions, and changes in the assumptions used can materially affect the grant date fair value of an award. These assumptions include the risk-free rate of interest, expected dividend yield, expected volatility and the expected life of the award.
Expected volatility rates are based on historical volatility of the common stock of comparable publicly traded entities and other factors due to the lack of historic information of the Company’s common stock. The expected life of stock options is the period of time for which the stock options are expected to be outstanding. Given the lack of historic exercise data, the expected life is determined using the “simplified method,” which is defined as the midpoint between the vesting date and the end of the contractual term.
The risk-free interest rates are based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant. The Company has not paid dividends to its stockholders since its inception and does not plan to pay cash dividends in the foreseeable future. Therefore, the Company has assumed an expected dividend rate of zero.
For the years ended December 31, 2013 and 2012, given that there was no active market for the Company’s common stock, the exercise prices of the stock options on the dates of grant were determined and approved by the board of directors using several factors, including progress and milestones achieved in the Company’s business development and performance, the price per share of its convertible preferred stock offerings and general industry and economic trends. In establishing the estimated fair value of the common stock, the Company considered the guidance set forth in American Institute of Certified Public Accountants Practice Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation. For the year ended December 31, 2014, the exercise price was determined by using the closing market price of the Company’s common stock on the date of grant.
Under ASC Topic 718, the cumulative amount of compensation cost recognized for instruments classified as equity that ordinarily would result in a future tax deduction under existing tax law shall be considered to be a deductible temporary difference in applying ASC Topic 740, Income Taxes. The deductible temporary difference is based on the compensation cost recognized for financial reporting purposes; however, these provisions currently do not impact the Company, as all the deferred tax assets have a full valuation allowance.
Since the Company had net operating loss carryforwards as of December 31, 2014, 2013 and 2012, no excess tax benefits for the tax deductions related to share-based awards were recognized in the statements of operations.
Equity instruments issued to consultants are accounted for under the provisions of ASC Topic 718 and ASC Topic 505-50, Equity/Equity-Based Payments to Non-Employees. Accordingly, the estimated fair value of the equity instrument is recorded on the earlier of the performance commitment date or the date the services required are completed and are marked to market during the service period.
Loss Per Share
Basic net loss per common share is determined by dividing the net loss allocable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per share is computed by dividing the net loss allocable to common stockholders by the weighted-average number of common stock equivalents outstanding for the period. The treasury stock method is used to determine the dilutive effect of the Company’s stock option grants.
The following common stock equivalents were excluded in the calculation of diluted loss per share because their effect would be anti-dilutive as applied to the loss from operations as of December 31, 2014, 2013 and 2012:
		Years Ended December 31,
		2014		2013		2012
Stock Equivalents			958,712		898,982		905,284
Recently Issued Accounting Standards
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09 (ASU 2014-09), Revenue from Contracts with Customers. ASU 2014-09 will eliminate transaction-specific and industry-specific revenue recognition guidance under current GAAP and replace it with a principle-based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. ASU 2014-09 also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016. Early application is not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. Presently, the Company is assessing what effect the adoption of ASU 2014-09 will have on our consolidated financial statements and accompanying notes.

Property_and_Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Property and Equipment	3. Property and Equipment
	Property and equipment consist of the following:
		December 31,
		2014			2013
	Computer equipment	$	39,160		$	82,252
	Furniture and fixtures		35,958			46,523
	Scientific equipment		2,207,848			2,851,947
	Leasehold improvements		—			319,553
			2,282,966			3,300,275
	Less accumulated depreciation		(2,228,413	)		(3,232,003	)
		$	54,553		$	68,272
	Depreciation expense for the years ended December 31, 2014, 2013 and 2012 was $25,481, $23,249 and $47,747 respectively. During 2014, in conjunction with its move in February 2015 to its new headquarters, the Company retired $319,553 of fully depreciated leasehold improvements and disposal of $709,518 of fully depreciated property and equipment. During 2013, the Company retired $11,663 of fully depreciated property and equipment.

ShareBased_Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	4. Share-Based Compensation
	The Company sponsors the Intra-Cellular Therapies, Inc. 2013 Equity Incentive Plan (the “2013 Plan”) to provide for the granting of stock-based awards, such as stock options, restricted common stock and restricted stock units to employees, directors and consultants as determined by the Board of Directors. In August 2013, the Company assumed in the Merger the ITI 2003 Equity Incentive Plan , as amended (the “2003 Plan”), which expired by its terms in July 2013. As of December 31, 2014, the outstanding awards under the 2003 Plan were options to purchase 1,125,460 shares of common stock. Effective in November 2013, the Company adopted the 2013 Plan. The Company reserved 2,850,000 shares of common stock for issuance under the 2013 Plan. In January 2014, the number of shares of common stock reserved for issuance under the 2013 Plan automatically increased by 800,000 pursuant to the evergreen provisions of the 2013 Plan.
	Stock options granted under the 2013 Plan may be either incentive stock options (“ISOs”) as defined by the Internal Revenue Code of 1986, as amended (the “Code”), or non-qualified stock options. The Board of Directors determines who will receive options, the vesting periods (which are generally one to three years) and the exercise prices of such options. Options have a maximum term of 10 years. The exercise price of ISOs granted under the 2013 Plan must be at least equal to the fair market value of the common stock on the date of grant.
	Total stock-based compensation expense related to all of the Company’s share-based awards to employees, directors and consultants recognized during the years ended December 31, 2014, 2013 and 2012, was comprised of the following:
		Years Ended December 31,
		2014			2013			2012
	Research and development	$	1,842,828		$	132,543		$	111,206
	General and administrative		2,001,050			258,850			183,900
	Total share-based compensation expense	$	3,843,878		$	391,393		$	295,106
	The following table describes the weighted-average assumptions used for calculating the value of options granted during the years ended December 31, 2014, 2013 and 2012:
		2014			2013			2012
	Dividend yield		0	%		0	%		0	%
	Expected volatility		80	%		80	%		79.7	%
	Weighted-average risk-free interest rate		2	%		2.2	%		1.2	%
	Expected term (in years)		6.3			6.2			6.3
	Information regarding the stock options activity including with respect to grants to employees, directors and consultants as of December 31, 2014, and changes during the period then ended, are summarized as follows:
		Number of			Weighted-			Aggregate			Weighted-
		Shares			Average			Intrinsic			Average
					Exercise			Value			Contractual
					Price						Life
	Outstanding at December 31, 2013 (audited)		1,400,125		$	1.98		$	—			5.3 years
	Options granted		1,108,000		$	16.5		$	—			9.5 years
	Options exercised		(247,165	)	$	0.66		$	—			0.5 year
	Options canceled or expired		(27,500	)	$	12.34		$	—			6.9 year
	Outstanding at December 31, 2014		2,233,460		$	9.2		$	18,867,087			7.3 years
	Vested or expected to vest at December 31, 2014		2,233,460		$	9.2		$	—
	Exercisable at December 31, 2014		1,324,552		$	5.1		$	16,625,120			5.9 years
	The weighted-average grant date fair value for awards granted during the year ended December 31, 2014, was $16.50 per share. Total intrinsic value of the options exercised was approximately $3,696,775 in the year ended December 31, 2014. The total fair value of shares vested in the years ended December 31, 2014, 2013 and 2012, was approximately $3,703,000, $278,000 and $332,000, respectively.
	During 2014, 2013 and 2012, the Company granted options to certain scientific advisory board members of the Company to purchase 95,000, 19,000 and 19,500 shares of common stock at an average exercise price per share of $16.86, $3.26, and $2.84 respectively. The options vest ratably over a period of 12 to 24 months. Stock compensation related to these grants will fluctuate with any changes in the underlying value of the Company’s common stock, as the performance period is not fixed.
	The unrecognized share-based compensation expense related to stock option awards at December 31, 2014, is $9,240,467 and will be recognized over a weighted-average period of 2.0 years.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes
	Total income tax expense for the years ended December 31 is allocated as follows:
		December 31,
		2014			2013
	Current	$	1,600		$	18,000
	Deferred		(14,655,320	)		(13,229,355	)
	Valuation allowance		14,655,320			13,229,355
	Provision for income taxes	$	1,600		$	18,000
	A reconciliation of the difference between the statutory federal income tax rate and the effective income tax rate for the years ended December 31 is as follows:
		December 31,
		2014			2013
	Income tax benefit at statutory federal rate		35	%		35	%
	Permanent differences		0.12			(1.20	)
	Return-to-provision—R&D Credit		(0.05	)		2.61
	R&D Credit—current year		2.32			3.72
	Reserve for uncertain tax positions		(0.01	)		(6.53	)
	Change in effective state tax rates		(0.14	)		6.58
	State income tax expense		10.5			10.12
	Change in valuation allowance		(47.75	)		(50.37	)
	Provision for income taxes		(0.01	)%		(0.07	)%
	Deferred income taxes reflect the net tax effect of temporary differences that exist between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, using enacted tax rates in effect for the year in which the differences are expected to reverse. As of December 31, 2014, the Company had $78.2 million of federal net operating loss carryforwards, which expire at various dates through 2034. The gross amount of the state net operating loss carryforwards is equal to or less than the federal net operating loss carryforwards and expires over various periods based on individual state tax law. In general, businesses with U.S. net operating losses (“NOLs”) are considered loss corporations for U.S. federal income tax purposes. Pursuant to Section 382 of the Code, loss corporations that undergo an ownership change, as defined under the Code, may be subject to an annual limitation on the amount of NOLs (and certain other tax attributes) available to offset taxable income earned after such ownership change. The Company has performed an analysis and has determined that it has not triggered any ownership changes pursuant to the rules prescribed under U.S. tax law and accordingly, the Company believes that the use of the Company’s net operating loss carryforwards will not be restricted due to changes in Company ownership as of December 31, 2014.
	At December 31, 2014, the Company had $1.5 million in excess tax benefits related to stock-based compensation deductions, the benefit of which will be recorded to additional paid-in-capital once the benefit is realized through a reduction of income taxes payable.
	The following summarizes the significant components of the Company’s deferred tax assets and liabilities as of December 31, 2014 and 2013, respectively:
		December 31,
		2014			2013
	Deferred tax assets:
	Net operating loss carryforwards	$	34,870,169		$	22,346,862
	Accrued employee benefits		443,371			377,049
	Capitalized research and development costs		—			31,891
	Research and development credit		2,570,540			1,874,939
	Nonqualified stock options		1,563,785			53,686
	Deferred tax liabilities:
	Depreciation		(5,204	)		102,916
	Net deferred tax asset		39,442,661			24,787,343
	Valuation allowance		(39,442,661	)		(24,787,343	)
	Net deferred tax asset	$	—		$	—
	Based upon the Company’s historical operating performance and the reported cumulative net losses to date, the Company presently does not have sufficient objective evidence to support the recovery of its net deferred tax assets. Accordingly, the Company has established a valuation allowance against its net deferred tax assets for financial reporting purposes because it is not more likely than not that these deferred tax assets will be realized.
	The following summarizes the significant components of gross unrecognized tax benefits as of December 31, 2014 and 2013, respectively:
		December 31,
		2014			2013
	Balance at January1,	$	1,715,904		$	—
	Current Year Uncertain Tax Positions:
	Gross Increases		1,731			6,649
	Prior Year Uncertain Tax Positions:
	Gross Increases		—			1,709,255
	Balance at December 31,	$	1,717,635		$	1,715,904

Collaborations_and_License_Agr

Collaborations and License Agreements	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborations and License Agreements	6. Collaborations and License Agreements
	The Bristol-Myers Squibb License Agreement
	On May 31, 2005, the Company entered into a worldwide, exclusive License Agreement with Bristol-Myers Squibb Company (“BMS”), pursuant to which the Company holds a license to certain patents and know-how of BMS relating to ITI-007 and other specified compounds. The agreement was amended on November 3, 2010. The licensed rights are exclusive, except BMS retains rights in specified compounds in the fields of obesity, diabetes, metabolic syndrome and cardiovascular disease. However, BMS has no right to use, develop or commercialize ITI-007 and other specified compounds in any field of use. The Company has the right to grant sublicenses of the rights conveyed by BMS. The Company is obliged under the license to use commercially reasonable efforts to develop and commercialize the licensed technology. The Company is also prohibited from engaging in the clinical development or commercialization of specified competitive compounds.
	Under the agreement, the Company made an upfront payment of $1.0 million to BMS, a milestone payment of $1.25 million in December 2013, and a milestone payment of $1.5 million in December 2014 following the initiation of the Company’s first Phase 3 clinical trial for ITI-007 for patients with exacerbated schizophrenia. Possible milestone payments remaining total $12.0 million. Under the agreement, the Company may be obliged to make other milestone payments to BMS for each licensed product of up to an aggregate of approximately $14.75 million. The Company is also obliged to make tiered single digit percentage royalty payments on sales of licensed products. The Company is obliged to pay to BMS a percentage of non-royalty payments made in consideration of any sublicense.
	The agreement extends, and royalties are payable, on a country-by-country and product-by-product basis, through the later of ten years after first commercial sale of a licensed product in such country, expiration of the last licensed patent covering a licensed product, its method of manufacture or use, or the expiration of other government grants providing market exclusivity, subject to certain rights of the parties to terminate the agreement on the occurrence of certain events. On termination of the agreement, the Company may be obliged to convey to BMS rights in developments relating to a licensed compound or licensed product, including regulatory filings, research results and other intellectual property rights.
	The Takeda Pharmaceutical License and Collaboration Agreement and Termination Agreement
	On February 25, 2011, the Company entered into a license and collaboration agreement with Takeda Pharmaceutical Company Limited under which the Company agreed to collaborate to research, develop and commercialize its proprietary compound ITI-214 and other selected compounds that selectively inhibit PDE1 for use in the prevention and treatment of human diseases. As part of the agreement, the Company assigned to Takeda certain patents owned by the Company that claim ITI-214 and granted Takeda an exclusive license to develop and commercialize compounds identified in the conduct of the research program that satisfy specified criteria. However, the Company retained rights to all compounds that do not meet the specified criteria and the Company continues to develop PDE1 inhibitors outside the scope of the agreement.
	Under the terms of the agreement, the Company conducted a research program with an initial term of three years to identify and characterize compounds that meet certain specified criteria sufficient for further development by Takeda. This research program ended in February 2014. The Company was responsible for its expenses incurred in the conduct of certain research activities specified in the research plan. Takeda agreed to reimburse the Company for expenses the Company incurred in conducting additional research activities.
	Upon execution of the agreement, Takeda made a nonrefundable payment to the Company. The Company was eligible to receive payments of approximately $500 million in the aggregate upon achievement of certain development milestones and up to an additional $250 million in the aggregate upon achievement of certain sales-based milestones, along with tiered royalty payments ranging from the high single digits to the low teens in percent based on net sales by Takeda.
	On October 31, 2014, the Company entered into an agreement with Takeda terminating the Takeda License Agreement, pursuant to which all rights granted under the Takeda License Agreement were returned to the Company. Takeda will complete certain ongoing activities relating to non-clinical studies and will transfer product inventory and materials to the Company but will not have any other ongoing involvement or funding obligations in connection with the development program. ITI-214 is the first compound in its class to successfully advance into Phase 1 clinical trials. The Company intends to continue the development of ITI-214 for the treatment of CNS and other disorders. The Company is in the process of refining its strategy for the PDE1 inhibitor program. By regaining unrestricted access to ITI-214, backups and the proprietary chemistry, the Company can now integrate the efforts of its internal PDE program to include the later stage portfolio. The Company does not anticipate a significant increase in its operating expenses related to its PDE development programs over the next twelve months. Other compounds in the PDE portfolio are also being advanced for the treatment of various indications, including non-CNS therapeutic areas.
	Other License Agreement
	In May 2002, ITI entered into a license agreement (the “License”) and research agreement with a university. Under the provisions of the License, ITI is entitled to use this organization’s patented technology and other intellectual property relating to diagnosis and treatment of central nervous system disorders.
	The License expires upon expiration of the patent rights or 15 years subsequent to the first sale of products developed through this License. ITI is required to make future milestone payments for initiation of clinical trials and approval of a New Drug Application (“NDA”). Should ITI commercialize the technology related to this License, ITI would be required to make royalty payments, and would also be required to pay fees under any sublicense agreements with third parties.
	In addition, ITI is required to use at least $1.0 million annually of its resources for the development and commercialization of the technology until ITI submits an NDA. ITI met its spending requirements in 2014. There were no other payments made or required under the License for the years ended December 31, 2014 and 2013.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies
	The Company currently has operating lease agreements with commitments for $13,125,243 for laboratory and office facilities through 2020.
	At December 31, 2014, future minimum lease payments under leases having an initial or remaining non-cancellable lease term in excess of one year are set forth in the table below:
	Year
	2015	$	10,630
	2016		1,048,661
	2017		1,175,454
	2018		1,210,718
	2019		1,247,039
	2020		8,432,741
		$	13,125,243
	Rent expense for the years ended December 31, 2014, 2013 and 2012 was $853,504, $827,479 and $809,332, respectively.

Employee_Benefit_Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plan	8. Employee Benefit Plan
	The Company sponsors a defined contribution 401(k) plan covering all full-time employees. Participants may elect to contribute their annual pre-tax earnings up to the federally allowed maximum limits. The Company makes a matching contribution of 50% on the first 6% of contributions made by participants. Participant and Company contributions vest immediately. During the years ended December 31, 2014, 2013 and 2012, the Company recorded matching contribution expense of $84,757, $77,138 and $79,656, respectively.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events
	In the first quarter of 2015, the Company moved its headquarters to 430 East 29th Street, New York, New York 10016. The Company has entered into a long-term lease for approximately 14,678 square feet of useable laboratory and office space. The lease has a term of 11 years. The Company expects that its facility related costs will increase moderately beginning in 2015 due to this new facility.
	On March 11, 2015, the Company completed its public offering of 5,411,481 shares of its common stock at a price of $24.00 per share for aggregate gross proceeds of approximately $129.9 million, and net proceeds of approximately $121.4 million.

Unaudited_Quarterly_Financial_

Unaudited Quarterly Financial Information	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Information	10. Unaudited Quarterly Financial Information
	The tables herein set forth the Company’s unaudited condensed consolidated 2014 and 2013 quarterly statements of operations.
	The following table sets for the Company’s unaudited condensed consolidated statements of operations for the 2014 quarters ended:
	2014 Quarter Ended	December 31,			September 31,			June 30,			March 31,
	Revenue	$	65,862		$	124,414		$	219,238		$	167,787
	Net loss		(15,199,130	)		(6,415,507	)		(4,533,539	)		(4,543,284	)
	Basic and diluted net loss per share	$	(0.52	)	$	(0.22	)	$	(0.15	)	$	(0.17	)
	The following table sets for the Company’s unaudited condensed consolidated statements of operations for the 2013 quarters ended:
	2013 Quarter Ended	December 31,			September 31,			June 30,			March 31,
	Revenue	$	827,531		$	667,955		$	643,264		$	598,252
	Net loss		(8,040,810	)		(4,911,620	)		(8,277,391	)		(5,638,377	)
	Basic and diluted net loss per share	$	(0.36	)	$	(0.28	)	$	(0.56	)	$	(0.39	)

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although actual results could differ from those estimates, management does not believe that such differences would be material.
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents. Cash and cash equivalents consist of checking accounts, money market accounts, money market funds, and certificates of deposit with a maturity date of three months or less. Certificates of deposit, commercial paper, corporate notes and corporate bonds with a maturity date of more than three months are classified separately on the balance sheet. Their carrying values approximate the fair market value.
Marketable Securities	Marketable Securities
	Marketable securities may consist of investments in U.S. Treasuries, various U.S. governmental agency debt securities, corporate bonds, certificates of deposit, and other fixed income securities with an average maturity of twelve months or less. Management classifies the Company’s investments as available-for-sale. Such securities are carried at estimated fair value, with any unrealized holding gains or losses reported, net of any tax effects reported, as accumulated other comprehensive income, which is a separate component of stockholders’ equity. Realized gains and losses, and declines in value judged to be other-than-temporary, if any, are included in consolidated results of operations. A decline in the market value of any available-for-sale security below cost that is deemed to be other-than-temporary results in a reduction in fair value, which is charged to earnings in that period, and a new cost basis for the security is established. Dividend and interest income is recognized as interest income when earned. The cost of securities sold is calculated using the specific identification method.
Investment Securities	Investment Securities
	Investment securities consisted of the following (in thousands):
			December 31, 2014
			Amortized		Unrealized		Unrealized			Estimated
			Cost		Gains		(Losses)			Fair
										Value
			(unaudited)
	U.S. Government Agency Securities		$	4,316	$	—	$	(3	)	$	4,313
	FDIC Certificates of Deposit			16,374		—		(14	)		16,360
	Certificates of Deposit			2,000		—		—			2,000
	Commercial Paper			9,743		1		—			9,744
	Corporate Notes/Bonds			35,992		—		(89	)		35,903
			$	68,425	$	1	$	(106	)	$	68,320
			December 31, 2013
			Amortized		Unrealized		Unrealized			Estimated
			Cost		Gains		(Losses)			Fair
										Value
	Certificates of Deposit		$	2,000		—		—		$	2,000
			$	2,000	$	—	$	—		$	2,000
	The Company has classified all of its investment securities available-for-sale, including those with maturities beyond one year, as current assets on the consolidated balance sheets based on the highly liquid nature of the investment securities and because these investment securities are considered available for use in current operations. As of December 31, 2014 and December 31, 2013, the Company held $31.8 million and $0, respectively, of available-for-sale investment securities with contractual maturity dates more than one year and less than two years.
Fair Value Measurements	Fair Value Measurements
	The Company applies the fair value method under ASC Topic 820, Fair Value Measurements and Disclosures. ASC Topic 820 defines fair value, establishes a fair value hierarchy for assets and liabilities measured at fair value and requires expanded disclosures about fair value measurements. The ASC Topic 820 hierarchy ranks the quality and reliability of inputs, or assumptions, used in the determination of fair value and requires assets and liabilities carried at fair value to be classified and disclosed in one of the following categories based on the lowest level input used that is significant to a particular fair value measurement:
		•		Level 1—Fair value is determined by using unadjusted quoted prices that are available in active markets for identical assets and liabilities.
		•		Level 2—Fair value is determined by using inputs other than Level 1 quoted prices that are directly or indirectly observable. Inputs can include quoted prices for similar assets and liabilities in active markets or quoted prices for identical assets and liabilities in inactive markets. Related inputs can also include those used in valuation or other pricing models, such as interest rates and yield curves that can be corroborated by observable market data.
		•		Level 3—Fair value is determined by inputs that are unobservable and not corroborated by market data. Use of these inputs involves significant and subjective judgments to be made by a reporting entity—e.g., determining an appropriate adjustment to a discount factor for illiquidity associated with a given security.
	The Company evaluates financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them each reporting period. This determination requires the Company to make subjective judgments as to the significance of inputs used in determining fair value and where such inputs lie within the ASC Topic 820 hierarchy.
	The Company has no assets or liabilities that were measured using quoted prices for significant unobservable inputs (Level 3 assets and liabilities) as of December 31, 2014 and December 31, 2013. The carrying value of cash held in money market funds of approximately $8.5 million as of December 31, 2014 and $0.0 million as of December 31, 2013, is included in cash and cash equivalents and approximates market value based on quoted market price or Level 1 inputs.
	The fair value measurements of the Company’s cash equivalents and available-for-sale investment securities are identified in the following tables (in thousands):
					Fair Value Measurements at
					Reporting Date Using
			December 31,		Quoted Prices		Significant			Significant
			2014		in Active		Other			Unobservable
					Markets for		Observable			Inputs
					Identical		Inputs			(Level 3)
					Assets		(Level 2)
					(Level 1)
	Money market funds		$	8,495	$	8,495	$	—		$	—
	U.S. Government Agency Securities			4,313		—		4,313			—
	FDIC certificates of deposit			16,360		—		16,360			—
	Certificates of deposit			41,000		—		41,000			—
	Commercial paper			9,744		—		9,744			—
	Corporate Bonds/Notes			35,903		—		35,903			—
			$	115,815	$	8,495	$	107,320		$	—
					Fair Value Measurements at
					Reporting Date Using
			December 31,		Quoted Prices		Significant			Significant
			2013		in Active		Other			Unobservable
					Markets for		Observable			Inputs
					Identical		Inputs			(Level 3)
					Assets		(Level 2)
					(Level 1)
	Certificates of deposit			6,000		—		6,000			—
			$	6,000	$	—	$	6,000		$	—
Financial Instruments	Financial Instruments
	The Company considers the recorded costs of its financial assets and liabilities, which consist of cash equivalents, investment securities available-for-sale, accounts receivable, accounts payable and accrued liabilities, to approximate their fair value because of their relatively short maturities at December 31, 2014 and December 31, 2013. Management believes that the risks associated with its financial instruments are minimal as the counterparties are various corporations, financial institutions and government agencies of high credit standing.
Concentration of Credit Risk	Concentration of Credit Risk
	Cash equivalents are held with major financial institutions in the United States. Certificates of deposit held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and, therefore, bear minimal risk.
Accounts Receivable	Accounts Receivable
	Accounts receivable that management has the intent and ability to collect are reported in the balance sheets at outstanding amounts, less an allowance for doubtful accounts. The Company writes off uncollectible receivables when the likelihood of collection is remote.
	The Company evaluates the collectability of accounts receivable on a regular basis. The allowance, if any, is based upon various factors including the financial condition and payment history of customers, an overall review of collections experience on other accounts and economic factors or events expected to affect future collections experience. No allowance was recorded as of December 31, 2014 and 2013, as the Company has a history of collecting on all its accounts including government agencies and collaborations funding its research.
Property and Equipment	Property and Equipment
	Property and equipment is stated at cost and depreciated on a straight-line basis over estimated useful lives ranging from three to five years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the assets or the term of the related lease. Expenditures for maintenance and repairs are charged to operations as incurred.
	When indicators of possible impairment are identified, the Company evaluates the recoverability of the carrying value of its long-lived assets based on the criteria established in ASC 360, Property, Plant and Equipment. The Company considers historical performance and anticipated future results in its evaluation of potential impairment. The Company evaluates the carrying value of those assets in relation to the operating performance of the business and undiscounted cash flows expected to result from the use of those assets. Impairment losses are recognized when carrying value exceeds the undiscounted cash flows, in which case management must determine the fair value of the underlying asset. No such impairment losses have been recognized to date.
Revenue Recognition	Revenue Recognition
	Revenue is recognized when all terms and conditions of the agreements have been met, including persuasive evidence of an arrangement, delivery has occurred or services have been rendered, price is fixed or determinable and collectability is reasonably assured. The Company is reimbursed for certain costs incurred on specified research projects under the terms and conditions of grants, collaboration agreements, and awards. The Company records the amount of reimbursement as revenues on a gross basis in accordance with ASC Topic 605-45, Revenue Recognition/Principal Agent Considerations. The Company is the primary obligor with respect to purchasing goods and services from third-party suppliers, is obligated to compensate the service provider for the work performed, and has discretion in selecting the supplier. Provisions for estimated losses on research grant projects and any other contracts are made in the period such losses are determined.
	The Company has entered into arrangements involving the delivery of more than one element. Each required deliverable is evaluated to determine whether it qualifies as a separate unit of accounting. For the Company, this determination is generally based on whether the deliverable has “stand-alone value” to the customer. The Company adopted this accounting standard on a prospective basis for all Multiple-Deliverable Revenue Arrangements (“MDRAs”) entered into on or after January 1, 2011, and for any MDRAs that were entered into prior to January 1, 2011, but materially modified on or after that date.
	The Company adopted ASC Topic 605-28, Milestone Method. Under this guidance, the Company recognizes revenue contingent upon the achievement of a substantive milestone in its entirety in the period the milestone is achieved. Substantive milestone payments are recognized upon achievement of the milestone only if all of the following conditions are met:
		•		The milestone payments are non-refundable;
		•		Achievement of the milestone involves a degree of risk and was not reasonably assured at the inception of the arrangement;
		•		Substantive effort on the Company’s part is involved in achieving the milestone;
		•		The amount of the milestone payment is reasonable in relation to the effort expended or the risk associated with achievement of the milestone; and
		•		A reasonable amount of time passes between the up-front license payment and the first milestone payment, as well as between each subsequent milestone payment.
	Determination as to whether a payment meets the aforementioned conditions involves management’s judgment. If any of these conditions are not met, the resulting payment would not be considered a substantive milestone, and therefore, the resulting payment would be considered part of the consideration for the single unit of accounting and be recognized as revenue in accordance with the revenue models described above. In addition, the determination that one such payment was not a substantive milestone could prevent the Company from concluding that subsequent milestone payments were substantive milestones and, as a result, any additional milestone payments could also be considered part of the consideration for the single unit of accounting and would be recognized as revenue as such performance obligations are performed under either the proportional performance or straight-line methods, as applicable.
Deferred Revenue	Deferred Revenue
	Cash received as prepayment on future services is deferred and recognized as revenue as the services are performed. The Company must remit interest on any deferred revenue related to a governmental agency. As of December 31, 2014 and 2013, no interest was due as the Company did not have any deferred revenue from a government agency.
Research and Development	Research and Development
	Except for payments made in advance of services, the Company expenses its research and development costs as incurred. For payments made in advance, the Company recognizes research and development expense as the services are rendered. Research and development costs primarily consist of salaries and related expenses for personnel and resources and the costs of clinical trials. Other research and development expenses include preclinical analytical testing, outside services, providers, materials and consulting fees.
Income Taxes	Income Taxes
	Income taxes are accounted for using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and its respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled.
	The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce net deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable for the period and the change during the period in deferred tax assets and liabilities.
	The Company accounts for uncertain tax positions pursuant to ASC Topic 740 (previously included in FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes—an Interpretation of FASB Statement No. 109). Financial statement recognition of a tax position taken or expected to be taken in a tax return is determined based on a more-likely-than-not threshold of that position being sustained. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes.
Comprehensive Income (Loss)	Comprehensive Income (Loss)
	All components of comprehensive income (loss), including net income (loss), are reported in the financial statements in the period in which they are incurred. Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. In accordance with accounting guidance, the Company presents the impact of any unrealized gains or (losses) on its investment securities in a separate statement of comprehensive income (loss) for each period.
Share-Based Compensation	Share-Based Compensation
	Share-based payments are accounted for in accordance with the provisions of ASC Topic 718, Compensation—Stock Compensation. The fair value of share-based payments is estimated, on the date of grant, using the Black-Scholes-Merton option-pricing model (the “Black-Scholes model”). The resulting fair value is recognized ratably over the requisite service period, which is generally the vesting period of the option.
	For all awards granted with time-based vesting conditions, expense is amortized using the straight-line attribution method. For awards that contain a performance-based vesting condition, expense is amortized using the accelerated attribution method. As share-based compensation expense recognized in the statements of operations for the years ended December 31, 2014, 2013 and 2012 is based on share-based awards ultimately expected to vest, it has been reduced for estimated forfeitures. ASC Topic 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Pre-vesting forfeitures are based on the Company’s historical experience for the years ended December 31, 2014, 2013 and 2012, and have not been material.
	The Company utilizes the Black-Scholes model for estimating fair value of its stock options granted. Option valuation models, including the Black-Scholes model, require the input of subjective assumptions, and changes in the assumptions used can materially affect the grant date fair value of an award. These assumptions include the risk-free rate of interest, expected dividend yield, expected volatility and the expected life of the award.
	Expected volatility rates are based on historical volatility of the common stock of comparable publicly traded entities and other factors due to the lack of historic information of the Company’s common stock. The expected life of stock options is the period of time for which the stock options are expected to be outstanding. Given the lack of historic exercise data, the expected life is determined using the “simplified method,” which is defined as the midpoint between the vesting date and the end of the contractual term.
	The risk-free interest rates are based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant. The Company has not paid dividends to its stockholders since its inception and does not plan to pay cash dividends in the foreseeable future. Therefore, the Company has assumed an expected dividend rate of zero.
	For the years ended December 31, 2013 and 2012, given that there was no active market for the Company’s common stock, the exercise prices of the stock options on the dates of grant were determined and approved by the board of directors using several factors, including progress and milestones achieved in the Company’s business development and performance, the price per share of its convertible preferred stock offerings and general industry and economic trends. In establishing the estimated fair value of the common stock, the Company considered the guidance set forth in American Institute of Certified Public Accountants Practice Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation. For the year ended December 31, 2014, the exercise price was determined by using the closing market price of the Company’s common stock on the date of grant.
	Under ASC Topic 718, the cumulative amount of compensation cost recognized for instruments classified as equity that ordinarily would result in a future tax deduction under existing tax law shall be considered to be a deductible temporary difference in applying ASC Topic 740, Income Taxes. The deductible temporary difference is based on the compensation cost recognized for financial reporting purposes; however, these provisions currently do not impact the Company, as all the deferred tax assets have a full valuation allowance.
	Since the Company had net operating loss carryforwards as of December 31, 2014, 2013 and 2012, no excess tax benefits for the tax deductions related to share-based awards were recognized in the statements of operations.
	Equity instruments issued to consultants are accounted for under the provisions of ASC Topic 718 and ASC Topic 505-50, Equity/Equity-Based Payments to Non-Employees. Accordingly, the estimated fair value of the equity instrument is recorded on the earlier of the performance commitment date or the date the services required are completed and are marked to market during the service period.
Loss Per Share	Loss Per Share
	Basic net loss per common share is determined by dividing the net loss allocable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per share is computed by dividing the net loss allocable to common stockholders by the weighted-average number of common stock equivalents outstanding for the period. The treasury stock method is used to determine the dilutive effect of the Company’s stock option grants.
	The following common stock equivalents were excluded in the calculation of diluted loss per share because their effect would be anti-dilutive as applied to the loss from operations as of December 31, 2014, 2013 and 2012:
			Years Ended December 31,
			2014		2013		2012
	Stock Equivalents			958,712		898,982		905,284
Recently Issued Accounting Standards	Recently Issued Accounting Standards
	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09 (ASU 2014-09), Revenue from Contracts with Customers. ASU 2014-09 will eliminate transaction-specific and industry-specific revenue recognition guidance under current GAAP and replace it with a principle-based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. ASU 2014-09 also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016. Early application is not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. Presently, the Company is assessing what effect the adoption of ASU 2014-09 will have on our consolidated financial statements and accompanying notes.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Schedule of Investment Securities	Investment securities consisted of the following (in thousands):
		December 31, 2014
		Amortized		Unrealized		Unrealized			Estimated
		Cost		Gains		(Losses)			Fair
									Value
		(unaudited)
	U.S. Government Agency Securities	$	4,316	$	—	$	(3	)	$	4,313
	FDIC Certificates of Deposit		16,374		—		(14	)		16,360
	Certificates of Deposit		2,000		—		—			2,000
	Commercial Paper		9,743		1		—			9,744
	Corporate Notes/Bonds		35,992		—		(89	)		35,903
		$	68,425	$	1	$	(106	)	$	68,320
		December 31, 2013
		Amortized		Unrealized		Unrealized			Estimated
		Cost		Gains		(Losses)			Fair
									Value
	Certificates of Deposit	$	2,000		—		—		$	2,000
		$	2,000	$	—	$	—		$	2,000
Schedule of Fair Value Measurements of Cash Equivalents and Available-for-Sale Investment Securities	The fair value measurements of the Company’s cash equivalents and available-for-sale investment securities are identified in the following tables (in thousands):
				Fair Value Measurements at
				Reporting Date Using
		December 31,		Quoted Prices		Significant			Significant
		2014		in Active		Other			Unobservable
				Markets for		Observable			Inputs
				Identical		Inputs			(Level 3)
				Assets		(Level 2)
				(Level 1)
	Money market funds	$	8,495	$	8,495	$	—		$	—
	U.S. Government Agency Securities		4,313		—		4,313			—
	FDIC certificates of deposit		16,360		—		16,360			—
	Certificates of deposit		41,000		—		41,000			—
	Commercial paper		9,744		—		9,744			—
	Corporate Bonds/Notes		35,903		—		35,903			—
		$	115,815	$	8,495	$	107,320		$	—
				Fair Value Measurements at
				Reporting Date Using
		December 31,		Quoted Prices		Significant			Significant
		2013		in Active		Other			Unobservable
				Markets for		Observable			Inputs
				Identical		Inputs			(Level 3)
				Assets		(Level 2)
				(Level 1)
	Certificates of deposit		6,000		—		6,000			—
		$	6,000	$	—	$	6,000		$	—
Common Stock Equivalents Excluded in Calculation of Diluted Loss Per Share	The following common stock equivalents were excluded in the calculation of diluted loss per share because their effect would be anti-dilutive as applied to the loss from operations as of December 31, 2014, 2013 and 2012:
		Years Ended December 31,
		2014		2013		2012
	Stock Equivalents		958,712		898,982		905,284

Property_and_Equipment_Tables

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consist of the following:
		December 31,
		2014			2013
	Computer equipment	$	39,160		$	82,252
	Furniture and fixtures		35,958			46,523
	Scientific equipment		2,207,848			2,851,947
	Leasehold improvements		—			319,553
			2,282,966			3,300,275
	Less accumulated depreciation		(2,228,413	)		(3,232,003	)
		$	54,553		$	68,272

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total Stock-Based Compensation Expense	Total stock-based compensation expense related to all of the Company’s share-based awards to employees, directors and consultants recognized during the years ended December 31, 2014, 2013 and 2012, was comprised of the following:
		Years Ended December 31,
		2014			2013			2012
	Research and development	$	1,842,828		$	132,543		$	111,206
	General and administrative		2,001,050			258,850			183,900
	Total share-based compensation expense	$	3,843,878		$	391,393		$	295,106
Weighted-Average Assumptions Used for Calculating Value of Options Granted	The following table describes the weighted-average assumptions used for calculating the value of options granted during the years ended December 31, 2014, 2013 and 2012:
		2014			2013			2012
	Dividend yield		0	%		0	%		0	%
	Expected volatility		80	%		80	%		79.7	%
	Weighted-average risk-free interest rate		2	%		2.2	%		1.2	%
	Expected term (in years)		6.3			6.2			6.3
Stock Option Activity	Information regarding the stock options activity including with respect to grants to employees, directors and consultants as of December 31, 2014, and changes during the period then ended, are summarized as follows:
		Number of			Weighted-			Aggregate			Weighted-
		Shares			Average			Intrinsic			Average
					Exercise			Value			Contractual
					Price						Life
	Outstanding at December 31, 2013 (audited)		1,400,125		$	1.98		$	—			5.3 years
	Options granted		1,108,000		$	16.5		$	—			9.5 years
	Options exercised		(247,165	)	$	0.66		$	—			0.5 year
	Options canceled or expired		(27,500	)	$	12.34		$	—			6.9 year
	Outstanding at December 31, 2014		2,233,460		$	9.2		$	18,867,087			7.3 years
	Vested or expected to vest at December 31, 2014		2,233,460		$	9.2		$	—
	Exercisable at December 31, 2014		1,324,552		$	5.1		$	16,625,120			5.9 years

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income Tax Expense	Total income tax expense for the years ended December 31 is allocated as follows:
		December 31,
		2014			2013
	Current	$	1,600		$	18,000
	Deferred		(14,655,320	)		(13,229,355	)
	Valuation allowance		14,655,320			13,229,355
	Provision for income taxes	$	1,600		$	18,000
Reconciliation of Statutory Federal Income Tax Rate and the Effective Income Tax Rate	A reconciliation of the difference between the statutory federal income tax rate and the effective income tax rate for the years ended December 31 is as follows:
		December 31,
		2014			2013
	Income tax benefit at statutory federal rate		35	%		35	%
	Permanent differences		0.12			(1.20	)
	Return-to-provision—R&D Credit		(0.05	)		2.61
	R&D Credit—current year		2.32			3.72
	Reserve for uncertain tax positions		(0.01	)		(6.53	)
	Change in effective state tax rates		(0.14	)		6.58
	State income tax expense		10.5			10.12
	Change in valuation allowance		(47.75	)		(50.37	)
	Provision for income taxes		(0.01	)%		(0.07	)%
Deferred Tax Assets and Liabilities	The following summarizes the significant components of the Company’s deferred tax assets and liabilities as of December 31, 2014 and 2013, respectively:
		December 31,
		2014			2013
	Deferred tax assets:
	Net operating loss carryforwards	$	34,870,169		$	22,346,862
	Accrued employee benefits		443,371			377,049
	Capitalized research and development costs		—			31,891
	Research and development credit		2,570,540			1,874,939
	Nonqualified stock options		1,563,785			53,686
	Deferred tax liabilities:
	Depreciation		(5,204	)		102,916
	Net deferred tax asset		39,442,661			24,787,343
	Valuation allowance		(39,442,661	)		(24,787,343	)
	Net deferred tax asset	$	—		$	—
Summary of Gross Unrecognized Tax Benefits	The following summarizes the significant components of gross unrecognized tax benefits as of December 31, 2014 and 2013, respectively:
		December 31,
		2014			2013
	Balance at January1,	$	1,715,904		$	—
	Current Year Uncertain Tax Positions:
	Gross Increases		1,731			6,649
	Prior Year Uncertain Tax Positions:
	Gross Increases		—			1,709,255
	Balance at December 31,	$	1,717,635		$	1,715,904

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments having Initial or Remaining Non Cancellable Lease Term	At December 31, 2014, future minimum lease payments under leases having an initial or remaining non-cancellable lease term in excess of one year are set forth in the table below:
	Year
	2015	$	10,630
	2016		1,048,661
	2017		1,175,454
	2018		1,210,718
	2019		1,247,039
	2020		8,432,741
		$	13,125,243

Unaudited_Quarterly_Financial_1

Unaudited Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	The following table sets for the Company’s unaudited condensed consolidated statements of operations for the 2014 quarters ended:
	2014 Quarter Ended	December 31,			September 31,			June 30,			March 31,
	Revenue	$	65,862		$	124,414		$	219,238		$	167,787
	Net loss		(15,199,130	)		(6,415,507	)		(4,533,539	)		(4,543,284	)
	Basic and diluted net loss per share	$	(0.52	)	$	(0.22	)	$	(0.15	)	$	(0.17	)
	The following table sets for the Company’s unaudited condensed consolidated statements of operations for the 2013 quarters ended:
	2013 Quarter Ended	December 31,			September 31,			June 30,			March 31,
	Revenue	$	827,531		$	667,955		$	643,264		$	598,252
	Net loss		(8,040,810	)		(4,911,620	)		(8,277,391	)		(5,638,377	)
	Basic and diluted net loss per share	$	(0.36	)	$	(0.28	)	$	(0.56	)	$	(0.39	)

Organization_Additional_Inform

Organization - Additional Information (Detail) (USD $)

0 Months Ended

3 Months Ended

12 Months Ended

46 Months Ended

0 Months Ended

Feb. 05, 2014

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Sep. 15, 2014

Aug. 29, 2013

Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

Voting rights percentage

100.00%

Shares of common stock sold, value

$115,442,747

Sale of common stock

7,063,300

Underwriters' option to purchase shares

921,300

Offering price per share of underwriters' option to purchase shares

$17.50

Net proceeds of public offering

115,400,000

115,715,560

40,629,916

15,194,085

Total payments received

65,862

124,414

219,238

167,787

827,531

667,955

643,264

598,252

577,301

2,737,002

3,117,991

Takeda Pharmaceutical Company Limited [Member]

Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

Total payments received

28,900,000

Date of termination agreement

31-Oct-14

Universal Shelf Registration Statement [Member]

Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

Number of years after filing shelf registration statement expires

3 years

Securities registered under universal shelf registration

150,000,000

Universal shelf registration filing date

29-Aug-14

Private Placement [Member]

Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

Shares of common stock sold, value

60,000,000

Sale of common stock

18,889,307

Shares of common stock sold, value per share

$3.18

Principal amount of convertible promissory notes converted in to common stock

15,300,000

Accrued interest

$800,000

Oneida Resources Corp. [Member]

Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

Outstanding share of capital stock exchanged

0.5

Company's outstanding capital stock, percentage

100.00%

Outstanding option and outstanding warrant of capital stock exchanged

0.5

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Significant Accounting Policies [Line Items]
Maturity of highly liquid investments	Three months or less
Maturity of certificates of deposit, commercial paper, corporate notes and corporate bonds	More than three months
Maturity period of marketable securities	12 months
Carrying value of cash held in money market funds	$8,500,000	$0
Allowance recorded	0	0
Deferred revenue interest	0	0
Assumed expected dividend rate	0.00%
Excess tax benefits for tax deductions	0	0
Significant Unobservable Inputs (Level 3) [Member]
Significant Accounting Policies [Line Items]
Assets measured using quoted prices	0
Liabilities measured using quoted prices	0
Contractual Maturity Dates More Than One Year and Less Than Two Years [Member]
Significant Accounting Policies [Line Items]
Available-for-sale investment securities	$31,800,000	$0
Minimum [Member]
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life	3 years
Maximum [Member]
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life	5 years

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Schedule of Investment Securities (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$68,425,000	$2,000,000
Unrealized Gains	1,000
Unrealized (Losses)	-106,000
Estimated Fair Value	68,320,672	2,000,000
U.S. Government Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,316,000
Unrealized (Losses)	-3,000
Estimated Fair Value	4,313,000
FDIC Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	16,374,000
Unrealized (Losses)	-14,000
Estimated Fair Value	16,360,000
Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,000,000	2,000,000
Estimated Fair Value	2,000,000	2,000,000
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	9,743,000
Unrealized Gains	1,000
Estimated Fair Value	9,744,000
Corporate Notes/Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	35,992,000
Unrealized (Losses)	-89,000
Estimated Fair Value	$35,903,000

Summary_of_Significant_Account5

Summary of Significant Accounting Policies - Schedule of Fair Value Measurements of Cash Equivalents and Available-for-Sale Investment Securities (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	$115,815	$6,000
Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	8,495
U.S. Government Agency Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	4,313
FDIC Certificates of Deposit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	16,360
Certificates of Deposit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	41,000	6,000
Commercial Paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	9,744
Corporate Notes/Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	35,903
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	8,495
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	8,495
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	107,320	6,000
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	4,313
Significant Other Observable Inputs (Level 2) [Member] | FDIC Certificates of Deposit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	16,360
Significant Other Observable Inputs (Level 2) [Member] | Certificates of Deposit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	41,000	6,000
Significant Other Observable Inputs (Level 2) [Member] | Commercial Paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	9,744
Significant Other Observable Inputs (Level 2) [Member] | Corporate Notes/Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale investment securities	$35,903

Summary_of_Significant_Account6

Summary of Significant Accounting Policies - Common Stock Equivalents Excluded in Calculation of Diluted Loss Per Share (Detail) (Stock Options [Member])	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive securities excluded from computation of earnings per share	958,712	898,982	905,284

Property_and_Equipment_Propert

Property and Equipment - Property and Equipment (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$2,282,966	$3,300,275
Less accumulated depreciation	-2,228,413	-3,232,003
Property Plant and Equipment Net	54,553	68,272
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	39,160	82,252
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	35,958	46,523
Scientific Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	2,207,848	2,851,947
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross		$319,553

Property_and_Equipment_Additio

Property and Equipment - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Depreciation expense	$25,481	$23,249	$47,747
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciated lease hold improvements	709,518	11,663
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Depreciated lease hold improvements	$319,553

ShareBased_Compensation_Additi

Share-Based Compensation - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common stock	2,233,460	1,400,125
Options, maximum term	10 years
Weighted-average grant date fair value for awards granted	$16.50
Total intrinsic value of the options exercised	$3,696,775
Total fair value of shares vested	3,703,000	278,000	332,000
Options granted	1,108,000
Options granted, exercise price	$16.50
Unrecognized share-based compensation expense related to employee stock option awards	$9,240,467
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense, weighted-average recognition period	2 years
Scientific Advisory Board Members [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted	95,000	19,000	19,500
Options granted, exercise price	$16.86	$3.26	$2.84
Options, vesting term	Vest ratably over a period of 12 to 24 months
2013 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common stock	1,125,460
Shares of common stock reserved for issuance	2,850,000			800,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive stock options (ISOs), vesting period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive stock options (ISOs), vesting period	3 years

ShareBased_Compensation_Total_

Share-Based Compensation - Total Stock-Based Compensation Expense (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$3,843,878	$391,393	$295,106
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	1,842,828	132,543	111,206
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$2,001,050	$258,850	$183,900

ShareBased_Compensation_Weight

Share-Based Compensation - Weighted-Average Assumptions Used for Calculating Value of Options Granted (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility	80.00%	80.00%	79.70%
Weighted-average risk-free interest rate	2.00%	2.20%	1.20%
Expected term (in years)	6 years 3 months 18 days	6 years 2 months 12 days	6 years 3 months 18 days

ShareBased_Compensation_Stock_

Share-Based Compensation - Stock Options Activity (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding at beginning of period, Number of Shares	1,400,125
Options granted, Number of Shares	1,108,000
Options exercised, Number of Shares	-247,165
Options canceled or expired, Number of Shares	-27,500
Outstanding at end of period, Number of Shares	2,233,460	1,400,125
Vested or expected to vest at end of period, Number of Shares	2,233,460
Exercisable at end of period, Number of Shares	1,324,552
Outstanding at beginning of period, Weighted-Average Exercise Price	$1.98
Options granted, Weighted-Average Exercise Price	$16.50
Options exercised, Weighted-Average Exercise Price	$0.66
Options canceled or expired, Weighted-Average Exercise Price	$12.34
Outstanding at end of period, Weighted-Average Exercise Price	$9.20	$1.98
Vested or expected to vest at end of period, Weighted-Average Exercise Price	$9.20
Exercisable at end of period, Weighted-Average Exercise Price	$5.10
Outstanding at end of period, Aggregate Intrinsic Value	$18,867,087
Exercisable at end of period, Aggregate Intrinsic Value	$16,625,120
Options granted, Weighted-Average Contractual Life	9 years 6 months
Options exercised, Weighted-Average Contractual Life	6 months
Options canceled or expired, Weighted-Average Contractual Life	6 years 10 months 24 days
Outstanding at end of period, Weighted-Average Contractual Life	7 years 3 months 18 days	5 years 3 months 18 days
Exercisable at end of period, Weighted-Average Contractual Life	5 years 10 months 24 days

Income_Taxes_Income_Tax_Expens

Income Taxes - Income Tax Expense (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Current	$1,600	$18,000
Deferred	-14,655,320	-13,229,355
Valuation allowance	14,655,320	13,229,355
Provision for income taxes	$1,600	$18,000	$32,921

Income_Taxes_Reconciliation_of

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate and the Effective Income Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Income tax benefit at statutory federal rate	35.00%	35.00%
Permanent differences	0.12%	-1.20%
Return-to-provision-R&D Credit	-0.05%	2.61%
R&D Credit-current year	2.32%	3.72%
Reserve for uncertain tax positions	-0.01%	-6.53%
Change in effective state tax rates	-0.14%	6.58%
State income tax expense	10.50%	10.12%
Change in valuation allowance	-47.75%	-50.37%
Provision for income taxes	-0.01%	-0.07%

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Federal net operating loss carryforwards	$78.20
Federal net operating loss carryForwards expiration year	2034
Excess tax benefits related to stock-based compensation	$1.50

Income_Taxes_Deferred_Tax_Asse

Income Taxes - Deferred Tax Assets and Liabilities (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets:
Net operating loss carryforwards	$34,870,169	$22,346,862
Accrued employee benefits	443,371	377,049
Capitalized research and development costs		31,891
Research and development credit	2,570,540	1,874,939
Nonqualified stock options	1,563,785	53,686
Deferred tax liabilities:
Depreciation	-5,204	102,916
Net deferred tax asset	39,442,661	24,787,343
Valuation allowance	-39,442,661	-24,787,343
Net deferred tax asset	$0	$0

Income_Taxes_Summary_of_Gross_

Income Taxes - Summary of Gross Unrecognized Tax Benefits (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1,	$1,715,904
Current Year Uncertain Tax Positions:
Gross Increases	1,731	6,649
Prior Year Uncertain Tax Positions:
Gross Increases		1,709,255
Balance at December 31,	$1,717,635	$1,715,904

Collaborations_and_License_Agr1

Collaborations and License Agreements - Additional Information (Detail) (USD $)	12 Months Ended		1 Months Ended		46 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014
University [Member] | Licensing Agreements [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
License expiration period	Upon expiration of the patent rights or 15 years subsequent to the first sale of products developed through this License.
Other payments	$0	$0
University [Member] | Licensing Agreements [Member] | Minimum [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Annual spending requirements for development and commercialization of technology expense	1,000,000
Bristol-Myers Squibb Company [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Company made an upfront payment			1,000,000
Company made milestone payment			1,500,000	1,250,000
Company remaining milestone payment			12,000,000
Obliged to make milestone payments	14,750,000		14,750,000		14,750,000
License expiration period	Through the later of ten years after first commercial sale of a licensed product in such country, expiration of the last licensed patent covering a licensed product.
Takeda Pharmaceutical Company Limited [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Initial term of research program	3 years
Date of termination agreement					31-Oct-14
Takeda Pharmaceutical Company Limited [Member] | Maximum [Member] | Development Milestones [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Aggregate payment upon achievement of certain milestones	500,000,000		500,000,000		500,000,000
Takeda Pharmaceutical Company Limited [Member] | Maximum [Member] | Sales-based Milestones [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Aggregate payment upon achievement of certain milestones	$250,000,000		$250,000,000		250,000,000

Commitments_and_Contingencies_1

Commitments and Contingencies - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Other Commitments [Line Items]
Operating lease agreements with commitments through 2014	$13,125,243
Rent expense	853,504	827,479	809,332
Laboratory and Office Facilities [Member]
Other Commitments [Line Items]
Operating lease agreements with commitments through 2014	$13,125,243

Commitments_and_Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Lease Payments having Initial or Remaining Non Cancellable Lease Term (Detail) (USD $)	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
2015	$10,630
2016	1,048,661
2017	1,175,454
2018	1,210,718
2019	1,247,039
2020	8,432,741
Total	$13,125,243

Employee_Benefit_Plan_Addition

Employee Benefit Plan - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]
Employer matching contribution	50.00%
Contributions made by participants for which the company makes matching contribution	6.00%
Contribution expense	$84,757	$77,138	$79,656

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Feb. 05, 2014	Mar. 12, 2015	Mar. 11, 2015
Subsequent Event [Line Items]
Initial public offering of common stock	7,063,300
Common stock price per share	$17.50
Subsequent Event [Member]
Subsequent Event [Line Items]
Area of useable laboratory and office space		14,678
Term of long term lease		11 years
Gross proceeds of public offering			$129.90
Net proceeds of public offering			$121.40
Subsequent Event [Member] | IPO [Member]
Subsequent Event [Line Items]
Initial public offering of common stock			5,411,481
Common stock price per share			$24

Unaudited_Quarterly_Financial_2

Unaudited Quarterly Financial Information - Schedule of Quarterly Financial Information (Detail) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Revenue	$65,862	$124,414	$219,238	$167,787	$827,531	$667,955	$643,264	$598,252	$577,301	$2,737,002	$3,117,991
Net loss	($15,199,130)	($6,415,507)	($4,533,539)	($4,543,284)	($8,040,810)	($4,911,620)	($8,277,391)	($5,638,377)	($30,691,460)	($26,868,198)	($16,590,827)
Basic and diluted net loss per share	($0.52)	($0.22)	($0.15)	($0.17)	($0.36)	($0.28)	($0.56)	($0.39)	($1.07)	($1.56)	($2.96)