Minerva Neurosciences (NERV) 10-Q7 Aug 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2014	Aug. 06, 2014
Document Entity Information [Abstract]	'	'
Entity Registrant Name	'Minerva Neurosciences, Inc.	'
Entity Central Index Key	'0001598646	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'No	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	18,439,482
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets	'	'
Cash and cash equivalents	$480,009	$1,818,317
Prepaid expenses	33,213	852
Total current assets	513,222	1,819,169
Equipment, net	27,165	3,232
In-process research and development	34,200,000	19,000,000
Goodwill	15,104,239	7,918,387
Deferred public offering costs	3,111,744	433,998
Total assets	52,956,370	29,174,786
Current liabilities	'	'
Accounts payable	4,324,673	522,981
Accrued expenses and other current liabilities	2,338,465	815,239
Convertible promissory notes	2,007,518	58,270
Loans payable	1,382,817	'
Derivative liability	'	10,093
Total current liabilities	10,053,473	1,406,583
Deferred taxes	13,668,600	7,588,600
Total liabilities	23,722,073	8,995,183
Commitments and contingencies	'	'
Stockholders' equity	'	'
Common stock; $.0001 par value; 125,000,000 shares authorized; 8,520,925 and 6,112,738 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively	852	611
Additional paid-in capital	69,367,316	38,008,783
Accumulated deficit	-40,133,871	-17,829,791
Total stockholders' equity	29,234,297	20,179,603
Total liabilities and stockholders' equity	$52,956,370	$29,174,786

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Condensed Consolidated Balance Sheets	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	8,520,925	6,112,738
Common stock, shares outstanding	8,520,925	6,112,738

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
Condensed Consolidated Statements of Operations (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Expenses	'	'	'	'
Research and development	$14,554,662	$249,845	$15,140,598	$353,782
General and administrative	3,095,173	128,942	5,132,565	296,335
Total expenses	17,649,835	378,787	20,273,163	650,117
Loss from operations	-17,649,835	-378,787	-20,273,163	-650,117
Foreign exchange gains	10,549	'	3,987	'
Interest expense	-1,726,380	'	-2,035,583	'
Interest income	4	2,834	679	2,834
Net loss	($19,365,662)	($375,953)	($22,304,080)	($647,283)
Net loss per share, basic and diluted (in dollars per share)	($2.55)	($0.10)	($3.07)	($0.17)
Weighted average shares outstanding, basic and diluted (in shares)	7,604,503	3,916,774	7,255,648	3,740,593

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (USD $)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance at Dec. 31, 2013	$20,179,603	$611	$38,008,783	($17,829,791)
Balance (in shares) at Dec. 31, 2013	'	6,112,738	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'
Issuance of shares for business acquisition	16,541,834	148	16,541,686	'
Issuance of shares for business acquisition (in shares)	'	1,481,583	'	'
Vesting of common shares issued	10,542,670	93	10,542,577	'
Vesting of common shares issued (in shares)	'	926,604	'	'
Stock-based compensation	4,274,270	'	4,274,270	'
Net loss	-22,304,080	'	'	-22,304,080
Balance at Jun. 30, 2014	$29,234,297	$852	$69,367,316	($40,133,871)
Balance (in shares) at Jun. 30, 2014	'	8,520,925	'	'

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
Condensed Consolidated Statements of Cash Flows (USD $)	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities	'	'
Net loss	($22,304,080)	($647,283)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	4,271	'
Amortization of debt discount recorded as interest expense	1,949,248	'
Stock-based compensation expense	14,816,940	'
Change in fair value of derivative	-10,093	'
Changes in operating assets and liabilities	'	'
Prepaid expenses	10,565	'
Accounts payable	1,229,363	'
Accrued expenses and other liabilities	520,209	78,928
Net cash used in operating activities	-3,783,577	-568,355
Cash flows from investing activities:	'	'
Cash acquired in business combination	1,167,869	'
Net cash provided by investing activities	1,167,869	'
Cash flows from financing activities	'	'
Proceeds from working capital loans	1,882,817	'
Repayments of working capital loans	-500,000	'
Proceeds from sales of common stock	'	1,850,000
Public offering costs paid	-105,417	'
Net cash provided by financing activities	1,277,400	1,850,000
Net (decrease) increase in cash and cash equivalents	-1,338,308	1,281,645
Cash and cash equivalents	'	'
Beginning of period	1,818,317	200,314
End of period	480,009	1,481,959
Supplemental disclosure of noncash investing and financing activities	'	'
Common stock issued as consideration for business acquisition	16,541,834	'
Plus liabilities assumed:	'	'
Accrued expenses and other	321,417	'
ProteoSys milestone payable	681,600	'
Deferred tax liability	6,080,000	'
Less assets acquired:	'	'
Prepaid expenses	42,926	'
Equipment	28,204	'
In-process research and development	15,200,000	'
Goodwill	7,185,852	'
Cash acquired in business merger	1,167,869	'
Deferred public offering costs included in accrued expenses and other liabilities	$3,006,327	'

NATURE_OF_OPERATIONS_AND_LIQUI

NATURE OF OPERATIONS AND LIQUIDITY	6 Months Ended
NATURE OF OPERATIONS AND LIQUIDITY	Jun. 30, 2014
NATURE OF OPERATIONS AND LIQUIDITY	'
NATURE OF OPERATIONS AND LIQUIDITY	'
	NOTE 1 — NATURE OF OPERATIONS AND LIQUIDITY

	Nature of Operations

	Minerva Neurosciences, Inc. (“Minerva” or the “Company”), formerly known as Cyrenaic Pharmaceuticals Inc. (“Cyrenaic”) was incorporated on April 23, 2007. The Company is a development stage biopharmaceutical company focused on the development of an experimental drug for the treatment of schizophrenia (discussed further in Note 6 — License Agreement). The Company has historically operated as a virtual company with no employees and managed by its Board of Directors. On November 12, 2013, Sonkei Pharmaceuticals, Inc. (“Sonkei”), a development stage biopharmaceutical company focused on the development of an experimental drug for the treatment of depression and an affiliated company through certain common ownership, was merged into Cyrenaic with Cyrenaic being the surviving company. Subsequent to the merger, Cyrenaic changed its name to Minerva Neurosciences, Inc.

	On February 11, 2014, the Company acquired Mind-NRG (discussed further in Note 3 — Business Combinations). Mind-NRG is a Swiss development stage biopharmaceutical company focused on the development and commercialization of an experimental drug for the treatment of Parkinson’s disease. The Company acquired 100% of the share capital of Mind-NRG largely to obtain the intellectual property estate which underpins Mind-NRG’s lead product candidate, renamed MIN-301.

	On February 12, 2014, subject to the completion of an initial public offering (“IPO”), the Company entered into a co-development and license agreement (discussed further in Note 8 — Co-Development and License Agreement) pursuant to which the licensor granted the Company an exclusive license, in certain territories, under certain patent and patent applications to sell products containing any orexin 2 compound, controlled by the licensor and claimed in a licensor patent right, as an active ingredient, or MIN-202, for any use in humans. The license will become effective simultaneously with the closing of an IPO and an initial upfront license payment of $22.0 million. The Company completed an IPO on July 7, 2014 and paid the $22.0 million license fee in July 2014.

	Going Concern

	The Company has limited capital resources and has incurred recurring operating losses and negative cash flows from operations since inception. As of June 30, 2014, the Company has an accumulated deficit of approximately $40.1 million. Management expects to continue to incur operating losses and negative cash flows from operations. The Company has financed its business to date from proceeds from the sale of common stock, loans and convertible promissory notes. On July 7, 2014, the Company completed an IPO and received net proceeds of $29.9 million, including the over allotment and the proceeds of the Mind-NRG private investment, and after deducting the underwriter discount of $2.6 million, expenses of $3.1 million, loan repayments of $1.4 million and the $0.7 million ProteoSys license fee payment. The Company will need to raise additional capital in order to continue to fund operations and fully fund its clinical development programs. The Company believes that it will be able to obtain additional working capital through equity financings or other arrangements to fund operations; however, there can be no assurance that such additional financing, if available, can be obtained on terms acceptable to the Company. If the Company is unable to obtain such additional financing, future operations would need to be scaled back or discontinued.

	The accompanying consolidated financial statements have been prepared as though the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2014
SIGNIFICANT ACCOUNTING POLICIES	'
SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

	Basis of presentation

	The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and as required by Regulation S-X, Rule 10-01. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all adjustments (consisting of items of a normal and recurring nature) necessary to present fairly the financial position as of June 30, 2014 and the results of operations for the three and six months ended June 30, 2014 and 2013 and cash flows for the six months ended June 30, 2014 and 2013. The results of operations for the three and six months ended June 30, 2014, are not necessarily indicative of the results to be expected for the full year. When preparing financial statements in conformity with GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.

	Actual results could differ from those estimates. The balance sheet as of December 31, 2013 was derived from the audited financial statements. The accompanying unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the audited financial statements for the years ended December 31, 2013 and 2012.

	From its inception the Company has devoted substantially all of its efforts to business planning, engaging regulatory, manufacturing and other technical consultants, planning and executing clinical trials and raising capital.

	Consolidation

	The accompanying consolidated financial statements include the results of the Company and its wholly-owned subsidiary, Mind-NRG. Intercompany transactions have been eliminated.

	Significant risks and uncertainties

	The Company’s operations are subject to a number of factors that can affect its operating results and financial condition. Such factors include, but are not limited to: the results of clinical testing and trial activities of the Company’s products, the Company’s ability to obtain regulatory approval to market its products, competition from products manufactured and sold or being developed by other companies, the price of, and demand for, Company products, the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products, and the Company’s ability to raise capital.

	The Company currently has no commercially approved products and there can be no assurance that the Company’s research and development will be successfully commercialized. Developing and commercializing a product requires significant time and capital and is subject to regulatory review and approval as well as competition from other biotechnology and pharmaceutical companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting intellectual property.

	Use of estimates

	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

	The Company utilizes significant estimates and assumptions in determining the fair value of its common stock. The board of directors has determined the estimated fair value of the Company’s common stock based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector, discounted cash flows and the likelihood of achieving a liquidity event, such as an IPO of common stock or a sale of the Company. The Company utilized various valuation methodologies in accordance with the framework of the 2013 American Institute of Certified Public Accountants Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation, to estimate the fair value of its common stock. The methodologies included a probability-weighted expected return methodology that determined an estimated value under an IPO scenario and a sale scenario based upon an assessment of the probability of occurrence of each scenario. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates include assumptions regarding future performance, including the successful completion of preclinical studies and clinical trials and the time to complete an IPO or sale. Significant changes to the key assumptions used in the valuations could result in different fair values of common stock at each valuation date.

	Research and development costs

	Costs incurred in connection with research and development activities are expensed as incurred. These costs include licensing fees to use certain technology in the Company’s research and development projects as well as fees paid to consultants and various entities that perform certain research and testing on behalf of the Company. Costs for certain development activities, such as clinical trials are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided by vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected in the financial statements as prepaid or accrued expenses.

	In-process research and development (“IPR&D”) assets represent capitalized incomplete research projects that the Company acquired through business combinations. Such assets are initially measured at their acquisition date fair values. The fair value of the research projects is recorded as intangible assets on the balance sheet, rather than expensed, regardless of whether these assets have an alternative future use.

	The amounts capitalized are being accounted for as indefinite-lived intangible assets, subject to impairment testing, until completion or abandonment of research and development efforts associated with the project. An IPR&D asset is considered abandoned when it ceases to be used (that is, research and development efforts associated with the asset have ceased, and there are no plans to sell or license the asset or derive defensive value from the asset). At that point, the asset is considered to be disposed of and is written off. Upon successful completion of each project, the Company will make a determination about the then remaining useful life of the intangible asset and begin amortization. The Company tests its indefinite-lived intangibles, IPR&D assets, for impairment annually on November 30 and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. When testing indefinite-lived intangibles for impairment, the Company may assess qualitative factors for its indefinite-lived intangibles to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the asset is impaired. Alternatively, the Company may bypass this qualitative assessment for some or all of its indefinite-lived intangibles and perform the quantitative impairment test that compares the fair value of the indefinite- lived intangible asset with the asset’s carrying amount.

	Stock-based compensation

	The Company recognizes compensation cost relating to share-based payment transactions in operating results using a fair-value measurement method, in accordance with Financial Accounting Standards Board (“FASB”) Accounting Series Codification (“ASC”) -718 Compensation-Stock Compensation. ASC-718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in operating results as compensation expense based on fair value over the requisite service period of the awards. The Company will determine the fair value of share-based awards using the Black-Scholes option-pricing model which uses both historical and current market data to estimate fair value. The method incorporates various assumptions such as the risk-free interest rate, expected volatility, expected dividend yield, expected forfeiture rate and expected life of the options.

	Grants to non-employees are accounted for in accordance with ASC-505-50 Equity — Based Payments to Non-Employees. The date of expense recognition is the earlier of the date at which a commitment for performance by the counterparty to earn the equity instrument is reached or the date at which the counterparty’s performance is complete. The Company determines the fair value of share-based awards granted to non-employees similar to the way fair value of awards are determined for employees except that certain assumptions used in the Black-Scholes option-pricing model, such as expected life of the option, may be different and the fair value of each unvested award is adjusted at the end of each period for any change in fair value from the previous valuation until the award vests.

	Loss per share

	Basic loss per share excludes dilution and is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the entity.

	Income taxes

	The Company utilizes the liability method of accounting for income taxes as required by ASC Topic 740 Income Taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax reporting bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Uncertain tax positions are evaluated in accordance with this topic and if appropriate, the amount of unrecognized tax benefits are recorded within deferred tax assets. Deferred tax assets are evaluated for realization based on a more-likely-than-not criterion in determining if a valuation allowance should be provided. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.

	ASC Topic 740 also clarifies the accounting for uncertainty in income taxes recognized in the consolidated financial statements. The interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken, or expected to be taken, in a tax return. ASC Topic 740 provides guidance on the recognition of interest and penalties related to income taxes. There were no interest or penalties related to income taxes for the three and six months ended June 30, 2014 and 2013. The Company has elected to treat interest and penalties, to the extent they arise, as a component of income taxes. Income tax years beginning in 2010 for federal and state purposes are generally subject to examination by taxing authorities, although net operating losses from all prior years are subject to examinations and adjustments for at least three years following the year in which the tax attributes are utilized.

	Deferred public offering costs

	Deferred public offering costs include certain legal, accounting and other costs directly attributable to the Company’s public offering of common stock. Upon completion of the initial public offering on July 7, 2014, these amounts will be offset against the proceeds of the offering.

	Business combinations

	For business combinations the Company utilizes the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. These standards require that the total cost of an acquisition be allocated to the tangible and intangible assets acquired and liabilities assumed based their respective fair values at the date of acquisition. The allocation of the purchase price is dependent upon certain valuations and other studies. Acquisition costs are expensed as incurred. The Company recognizes separately from goodwill the fair value of assets acquired and the liabilities assumed. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the acquisition date fair values of the assets acquired and liabilities assumed. While the Company uses its best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, the Company’s estimates are subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may retroactively record adjustments to the fair value of the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of operations.

	Goodwill

	The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicate an impairment may have occurred, by comparing its reporting unit’s carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. The Company tested its goodwill for impairment as of November 30. There was no impairment of goodwill for the year ended December 31, 2013. The Company believes there was no impairment for the three and six months ended June 30, 2014.

	Convertible promissory notes

The Company’s convertible promissory notes at June 30, 2014 consist of (i) $1.3 million face value convertible promissory notes, plus accrued interest of approximately $67,000 and (ii) €518,519 face value convertible promissory notes, plus accrued interest of approximately $35,000. The Euro denominated notes were acquired in conjunction with the merger with Sonkei (discussed further in Note 3 — Business Combinations), and recorded at their fair value of approximately $0.7 million on the date of the merger. At June 30, 2014, the fair market value and carrying of the convertible promissory notes is approximately $2.0 million.

Discount Purchase Option

The Company’s 8% convertible promissory notes contain an embedded derivative related to the conversion option containing a discount purchase feature in a qualified financing, as defined. The derivative is carried at fair value and is classified as Level 3 in the fair value hierarchy due to the use of significant unobservable inputs. As of December 31, 2013, the fair value of the derivative liability was determined to be $10,093 using a probability-weighted valuation model applying the following assumptions: (i) discount rate of 8.0%, (ii) remaining term of approximately 6 months and (iii) the probabilities of conversion under various circumstances as at the date of measurement.

As of March 31, 2014, the fair value of the derivative liability was determined to be $4,900 using a probability-weighted valuation model applying the following assumptions: (i) discount rate of 8.0%, (ii) remaining term of approximately 3 months and (iii) the probabilities of conversion under various circumstances as at the date of measurement. The $5,193 decrease in the fair value of the derivative liability was recognized in interest expense as a gain on change in fair value of derivative liability for the three months ended March 31, 2014.

As of June 30, 2014, the fair value of the derivative liability was determined to be $0. The $4,900 decrease in the fair value of the derivative liability was recognized in interest expense as a gain on change in fair value of derivative liability for the three months ended June 30, 2014.

$3.50/€3.50 Conversion Option

The Company’s 8% convertible promissory notes contain an embedded derivative related to the beneficial conversion feature of the notes. The initial fair value of the derivative liability at the date of issuance in November 2013 was determined by measuring the difference between the conversion price and the fair value of common stock at the commitment date. The Company recorded a debt discount for the fair value of the derivative, which was limited to the proceeds received of approximately $2.0 million, with an offsetting increase to additional paid-in capital. The beneficial conversion charge has been included in the balance sheets at June 30, 2014 and December 31, 2013 as a discount to the related convertible promissory notes. The discount was accreted as non-cash interest expense over the expected term of the debt (June 30, 2014) using the effective interest method, which totaled approximately $1.7 million and $2.0 million for the three and six months ended June 30, 2014, respectively.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by FASB and are adopted by the Company as of the specified effective date. The Company believes that the impact of other recently issued but not yet adopted accounting pronouncements will not have a material impact on the financial position, results of operations, and cash flows, or do not apply to the Company’s operations.

In June 2014, the FASB issued Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915) which eliminates the definition of a development stage entity and removes the financial reporting distinction between development stage entities and other reporting entities under GAAP. The Company early adopted this standard and thus has eliminated its historical inception to date information in the financial statements.

BUSINESS_COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
BUSINESS COMBINATIONS	Jun. 30, 2014
BUSINESS COMBINATIONS	'
BUSINESS COMBINATIONS	'
	NOTE 3 — BUSINESS COMBINATIONS

	Mind-NRG

	On February 11, 2014, the Company acquired Mind-NRG, a Swiss development stage biopharmaceutical company focused on the development and commercialization of an experimental drug for the treatment of Parkinson’s disease. This transaction was accounted for as a business combination by the Company. The purchase price consists of 1,481,583 shares of the Company’s common stock (which includes 148,160 shares held in escrow until the expiration of the holdback period, February 11, 2015) with an estimated fair value of $11.17 per share, or approximately $16.5 million. The Company acquired 100% of the share capital of Mind-NRG largely to obtain the intellectual property estate which underpins Mind-NRG’s lead product candidate, recently renamed MIN-301.

	The fair value of the Company’s common stock issued was determined based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector, discounted cash flows and the likelihood of achieving a liquidity event, such as an IPO or a sale of the Company. The purchase price allocation was based upon an analysis of the fair value of the assets and liabilities acquired from Mind-NRG. The final purchase price may be adjusted up to one year from the date of the merger. Identifying the fair value of the tangible and intangible assets and liabilities acquired required the use of estimates by management, and were based upon currently available data, as noted below.

	· The fair value of current assets and liabilities approximated their book value.

	· The Company measured the value of the acquired IPR&D using the income approach — multi period excess earnings method and assembled workforce using the cost approach (for contributory asset charge calculations). The multi-period excess earning method measures the present value of the future earnings expected to be generated during the remaining lives of the subject assets.

	· The Company recorded a deferred tax liability for the difference in the book and tax basis of the IPR&D, multiplied by the effective income tax rate.

	The purchase price allocation below is based on February 11, 2014 financial information and may be adjusted upon the completion of the final valuation. The final valuation is expected to be completed as soon as practicable but no later than one year from the consummation of the acquisition. The establishment of the fair value of the consideration for an acquisition, and the allocation to identifiable tangible and intangible assets and liabilities requires the extensive use of accounting estimates and management judgment. The fair values assigned to the assets acquired and liabilities assumed are from estimates and assumptions based on data currently available.

	The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. The goodwill recorded recognizes the value of the overall development program, both the current pre-clinical development program in process and the future clinical trial development strategy. Such goodwill is not deductible for tax purposes. The aggregate consideration of $16.5 million has been allocated to assets acquired and liabilities assumed based on estimated fair values at the February 11, 2014 as follows:

	Cash		$	1,167,869
	Other assets		71,130
	Goodwill		7,185,852
	In-process research and development		15,200,000
	Deferred tax liability		(6,080,000		)
	Accrued expenses		(321,417		)
	Proteosys milestone payable		(681,600		)
			$	16,541,834

	IPR&D, an indefinite-lived asset, will be included as an asset on the Company’s balance sheet until such time that: (i) a marketing approval to commercially sell the drug is received from a regulatory agency, in which case it will be amortized over its expected commercial life, or (ii) such time as the IPR&D is deemed to be impaired, in which case it will be expensed. The transaction is being treated as a stock purchase for income tax purposes and accordingly, the tax bases of Mind-NRG’s assets and liabilities are not adjusted for the effect of purchase accounting. A deferred tax liability of $6.1 million has been recorded for the difference in the book and tax basis of the IPR&D, multiplied by the effective income tax.

	Sonkei

	On November 12, 2013, Cyrenaic was merged with Sonkei, with Cyrenaic being the survivor company. Each share of Sonkei common stock was converted into 0.383 shares of Cyrenaic common stock, resulting in the issuance of 2,423,368 shares. There were certain common stockholders between Sonkei and Cyrenaic however, since the underlying investors in the venture funds were not “substantially similar”, the merger was accounted for a business combination with Cyrenaic being treated as the acquirer. The results of Sonkei are included in the accompanying consolidated financial statements commencing November 12, 2013. The Company merged with Sonkei in order to acquire Sonkei’s lead product candidate, MIN-117.

	At the date of the merger, a Sonkei non-employee held 1,112,500 shares of Sonkei common stock with a nonrecourse note due to Sonkei, which was being treated as a stock option for accounting purposes. In connection with the merger, the Company issued 426,176 shares to the holder with a nonrecourse note (discussed further in Note 9 — Stockholders’ Equity) in order to replace the holder’s stock options in Sonkei. Due to the nonrecourse note, these shares of the Company were treated as stock options for accounting purposes and the holder of the option can only vest in the stock options if the holder continues to provide services to the Company through the time of a change in control, as defined. In summary, the Company issued replacement stock options of the Company for the old Sonkei stock options. As a change in control was not deemed probable as of the merger date, the options have not been included as part of the consideration transferred in the merger accounting. Accordingly, the Company will recognize all of the compensation expense for these stock options in the consolidated statement of operations once achievement of the performance condition becomes probable (see Note 9 — Stockholders’ Equity). The merger accounting purchase price was therefore determined based upon the common stock shares issued of 1,997,192 at a valuation of $9.49 per common share for a total purchase price of approximately $18.9 million.

	The fair value of the Company’s common stock issued was determined based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector, discounted cash flows and the likelihood of achieving a liquidity event, such as an IPO or a sale of the Company. The purchase price allocation was based upon an analysis of the fair value of the assets and liabilities acquired from Sonkei. Identifying the fair value of the tangible and intangible assets and liabilities acquired required the use of estimates by management, and were based upon currently available data, as noted below.

	· The fair value of current assets and liabilities approximated their book value.

	· The fair value of the convertible promissory notes was determined based upon a number of factors including (i) interest rate, (ii) creditworthiness of the Company, (iii) the applicable foreign exchange rate and (iv) the conversion features (described in Note 7 — Debt). The face amount of the note acquired is €518,519 (approximately $0.7 million at November 12, 2013).

	· The Company measured the value of the acquired IPR&D using the income approach — multi period excess earnings method and assembled workforce using the cost approach (for contributory asset charge calculations). The multi-period excess earning method measures the present value of the future earnings expected to be generated during the remaining lives of the subject assets.

	· The Company recorded a deferred tax liability for the difference in the book and tax basis of the IPR&D, multiplied by the effective income tax rate.

	The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. The goodwill recorded recognizes the synergies and value of the overall combined development programs, both the current pre-clinical development program in process and the future clinical trial development strategy. Such goodwill is not deductible for tax purposes. The aggregate consideration of $18.9 million has been allocated to assets acquired and liabilities assumed based on estimated fair values at the date of merger November 12, 2013 as follows:

	Cash		$	631,478
	Goodwill		7,918,387
	In-process research and development		19,000,000
	Accrued expenses		(334,423		)
	Derivative liability		(3,476		)
	Deferred taxes		(7,588,600		)
	Convertible promissory notes (see Note 7)		(680,000		)
			$	18,943,366

	The above cash was obtained by Sonkei in a November 6, 2013 financing and thus has been classified as a financing activity in the consolidated statements of cash flows. The IPR&D, an indefinite-lived asset, will be included as an asset on the Company’s consolidated balance sheet until such time that: (i) a marketing approval to commercially sell the drug is received from a regulatory agency, in which case it will be amortized over its expected commercial life, or (ii) such time as the IPR&D is deemed to be impaired, in which case it will be expensed. The transaction is being treated as a stock purchase for income tax purposes and accordingly, the tax bases of Sonkei’s assets and liabilities are not adjusted for the effect of purchase accounting. A deferred tax liability of $7.6 million has been recorded for the difference in the book and tax basis of the IPR&D, multiplied by the effective income tax. The acquired net operating losses of Sonkei of approximately $5.3 million had a full valuation allowance, however, will be not limited under Internal Revenue Code Section 382 as the amount that could be utilized after limitation exceeds the amount of the net operating loss carryforward.

	Pro Forma Results

	The unaudited financial information in the table below summarizes the combined results of operations for the Company, Sonkei and Mind-NRG on a pro forma basis as though the companies had been combined as of January 1, 2013. The unaudited pro forma financial information for the three and six months ended June 30, 2014 and 2013 combines the Company’s historical results for these years with the historical results for the comparable reporting periods for Sonkei and Mind-NRG. The unaudited pro forma financial information below is for informational purposes only and is not indicative of the results of operations or financial condition that would have been achieved if the merger would have taken place at the beginning of each of the periods presented and should not be taken as indicative of the Company’s future results of operations or financial condition.

			Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
Operating loss		$	(19,365,662	)	$	(928,569	)	$	(22,756,955	)	$	(1,571,977	)
Loss per share		$	(2.55	)	$	(0.13	)	$	(2.99	)	$	(0.22	)

ACCRUED_EXPENSES_AND_OTHER_LIA

ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2014
ACCRUED EXPENSES AND OTHER LIABILITIES	'
ACCRUED EXPENSES AND OTHER LIABILITIES	'
	NOTE 4 — ACCRUED EXPENSES AND OTHER LIABILITIES

	Accrued expenses and other liabilities consist of the following:

		June 30, 2014		December 31, 2013

	Research and development costs	$	350,784	$	58,117
	Professional fees (1)	210,000		595,215
	Expenses due to related parties	177,230		126,910
	Interest payable	114,429		24,276
	Vacation pay	26,090		5,690
	Bonus (2)	486,000		—
	ProteoSys milestone payable (3)	682,250		—
	Primomed research funding (4)	236,294		—
	Consulting and other costs	55,388		5,031
		$	2,338,465	$	815,239

	(1) Included in accrued professional fees at June 30, 2014 and December 31, 2013 are $0.2 million and $0.4 million, respectively, incurred in connection with the preparation of a public offering of the Company’s common stock.
	(2) Under the terms of certain employment agreements, the Company is obligated to pay $0.5 million in bonuses upon the completion of an IPO. The Company’s registration statement was declared effective on June 30, 2014 and thus, the bonuses became probable. The portion accrued as of June 30, 2014 represents the amortization of the bonus expense from the date of the employment agreements through June 30, 2014.
	(3) Under the terms of the acquisition agreement for Mind-NRG, the Company is obligated to make a €0.5 million (or $0.7 million, as converted) milestone payment to ProteoSys by the earlier of January 1, 2015, or upon completion of an IPO, or equity financing of at least $5.0 million.
	(4) Under the terms of a research agreement with Primomed, the Company received grant funds that will be used to offset certain costs under the MIN-301 development program.

NET_LOSS_PER_SHARE_OF_COMMON_S

NET LOSS PER SHARE OF COMMON STOCK	6 Months Ended
NET LOSS PER SHARE OF COMMON STOCK	Jun. 30, 2014
NET LOSS PER SHARE OF COMMON STOCK	'
NET LOSS PER SHARE OF COMMON STOCK	'
	NOTE 5 — NET LOSS PER SHARE OF COMMON STOCK

	Diluted loss per share is the same as basic loss per share for all periods presented as the effects of potentially dilutive items were anti-dilutive given the Company’s net loss. Basic loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding. The following table sets forth the computation of basic and diluted loss per share for common stockholders:

		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Net loss	$	(19,365,662	)	$	(375,953	)	$	(22,304,080	)	$	(647,283	)
	Weighted average shares of common stock outstanding	7,604,503			3,916,774			7,255,648			3,740,593
	Net loss per share of common stock – basic and diluted	$	(2.55	)	$	(0.10	)	$	(3.07	)	$	(0.17	)

	The following securities outstanding at June 30, 2014 and 2013 have been excluded from the calculation of weighted average shares outstanding as their effect on the calculation of loss per share is antidilutive:

		June 30,		June 30,
		2014		2013
	Non-vested stock issued (see Note 9 – Stockholders’ Equity)	—		821,429
	Common stock options	2,141,807		—

	The above table does not include the potentially dilutive securities that would be issuable under the convertible promissory notes outstanding as described in Note 7 — Debt.

LICENSE_AGREEMENT

LICENSE AGREEMENT	6 Months Ended
LICENSE AGREEMENT	Jun. 30, 2014
LICENSE AGREEMENT	'
LICENSE AGREEMENT	'
	NOTE 6 — LICENSE AGREEMENT

	In January 2014, the Company renegotiated the structure of the license for MIN-101 such that the Company is required to make milestone payments upon the achievement of one development milestone totaling $0.5 million and certain commercial milestones, which could total up to $47.5 million. In addition, in the event that the Company sells the rights to the license, the licensor will be entitled to a percentage of milestone payments in the low teens and a percentage of royalties received by the Company in the low double digits. Under the terms of the amended agreement, the Company is required to meet a certain diligence obligation to commence a clinical pharmacology study of the licensed compound by the end of April 2015. The Company may extend this deadline for a further year by making an extension payment of $0.5 million. The number of extension payments which may be made is unlimited. In addition, if the Company fails to achieve this development milestone by end of April 2015 or make an extension payment, the licensor may elect to terminate the agreement.

	In January 2014, the Company renegotiated the structure of the license for MIN-117 such that the Company is required to make certain milestone payments upon the achievement of certain commercial milestones up to $47.5 million. In addition, in the event that the Company sells the rights to the license, the licensor will be entitled to a percentage of milestone payments in the low teens and a percentage of royalties received by the Company in the low double digits. Under the terms of the amended agreement, the Company is required to meet a certain diligence obligation to initiate either a Phase II(a) or Phase II(b) study with the licensed compound in patients suffering major mood disorders where initiation is defined as first patient enrolled in the study by the end of April 2015. If the Company fails to achieve this milestone, the Company may elect to extend the timeline to achieve the milestone by one year increments by making an extension payment of $0.5 million. The number of extension payments which may be made is unlimited. In addition, if the Company fails to achieve this development milestone by end April 2015 or make an extension payment, the licensor may elect to terminate the agreement.

	The Company did not make any license payments under the agreements for the six months ended June 30, 2014 and 2013.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2014
DEBT	'
DEBT	'
	NOTE 7 — DEBT

	Loans Payable

	In conjunction with the Mind-NRG acquisition on February 11, 2014 (discussed further in Note 3 — Business Combinations), working capital loans were executed between Mind-NRG and several stockholders or affiliates of stockholders for a maximum drawdown of $0.6 million. The loans bear interest at 8% and are repayable at the time the Company completes an IPO or December 1, 2015. The loans may be repaid at any time and contains standard terms of default, under which the interest rate would increase to 11%.

	In April 2014, Mind-NRG repaid the working capital loans plus accrued interest, and certain stockholders and their affiliates subsequently executed new working capital loan agreements, with substantially identical terms, directly with the Company (the April Bridge Loan). The Company drew down the maximum $0.6 million available under the agreement in May 2014.

	In May 2014, the Company entered into a new loan agreement (the May Bridge Loan) with certain stockholders and their affiliates. The Third Loan Agreement provides loan facilities to the Company up to a maximum of $1.0 million. The Third Loan Agreement bears interest at 8% per annum and is repayable at the time the Company completes an IPO or on December 1, 2015. The Third Loan Agreement contains standard terms of default, under which the interest rate would increase to 11% per annum. The Third Loan Agreement provides that any amount outstanding may be repaid at any time without penalty.

	At June 30, 2014, the balance outstanding under the April and May Bridge Loan agreements was approximately $1.4 million, which has been included under loans payable. Interest expense related to these loans for the three and six months ended June 30, 2014 was $11 thousand.

	Convertible Promissory Notes

	On November 6, 2013, the Company issued $1.3 million 8% convertible promissory notes due June 30, 2014 to certain stockholders that are payable on demand at maturity. The notes contain certain terms of default, under which conditions the interest rate increases to 11% per annum.

	In conjunction with the merger of Sonkei on November 12, 2013, the Company assumed convertible promissory notes held by certain stockholders with a principal amount of €518,519 ($0.7 million as of June 30, 2014). These notes have a stated interest rate of 8% per annum, mature on June 30, 2014, and are payable on demand on such date. The notes contains certain terms of default, under which conditions the interest rate increases to 11% per annum.

	The notes issued by the Company on November 6, 2013 and the notes issued by Sonkei on November 6, 2013 and subsequently acquired by the Company on November 12, 2013 (collectively, the “Notes”) contain identical terms and may be converted into common shares of the Company under the following conditions;

	i) Discount Purchase Option. If the Company sells shares of its capital stock in the qualified financing, as defined, and the convertible promissory notes have not been paid in full, then the outstanding principal balance of these convertible promissory notes and accrued interest thereon shall convert into the common stock sold at the first closing of the qualified financing at a conversion price equal to the price per share paid by the Investors for each share of common stock multiplied by 80%. A qualified financing shall mean the first sale of the qualified stock, in one transaction or series of related transactions with aggregate gross proceeds to the Company of at least $5.0 million, which sale or sales shall take place on or before the maturity date; provided, however, that an IPO shall not be deemed a qualified financing. A qualified financing is defined as a transaction (or a series of transactions) with gross proceeds to the Company of at least $5.0 million, which takes place on or before June 30, 2014.

	ii) Initial Public Offering. If the Company conducts an IPO of its common shares before June 30, 2014, then the convertible promissory notes plus accrued interest will convert at the price per share issued in the IPO. Under the terms of the Notes, an IPO is not considered a qualified financing.

	iii) $3.50/€3.50 Conversion Option. Subsequent to April 30, 2014, investors may elect to convert the Notes, and accrued interest into common stock of the Company at a conversion price of $3.50 per common share.

	Discount Purchase Option

	The Notes contain an embedded derivative related to the discount purchase feature. The initial fair value of the derivative liability at the date of initial recognition was determined to be $9,976 using a probability-weighted valuation model applying the following assumptions: (i) discount rate of 8.0%, (ii) remaining term of approximately 7 months and (iii) the probabilities of conversion under various circumstances as at the date of measurement. The proceeds allocated to this conversion option of $9,976 were deducted from the initial fair value of the debt obligation. As of December 31, 2013, the fair value of the derivative liability was determined to be $10,093 using a probability-weighted valuation model applying the following assumptions: (i) discount rate of 8.0%, (ii) remaining term of approximately 6 months and (iii) the probabilities of conversion under various circumstances as at the date of measurement.

	As of March 31, 2014, the fair value of the derivative liability was determined to be $4,900 using a probability-weighted valuation model applying the following assumptions: (i) discount rate of 8.0%, (ii) remaining term of approximately 3 months and (iii) the probabilities of conversion under various circumstances as at the date of measurement. The $5,193 decrease in the fair value of the derivative liability was included as a component of interest expense for the three months ended March 31, 2014.

	As of June 30, 2014, the fair value of the derivative liability was determined to be $0. The $4,900 decrease in the fair value of the derivative liability was included as a component of interest for the three months ended June 30, 2014.

	$3.50/€3.50 Conversion Option

	The Notes contain a beneficial conversion feature. The intrinsic value of the beneficial conversion feature was calculated by measuring the difference between the effective conversion price and the fair value of the common stock at initial recognition. The Company recorded a debt discount for the intrinsic value of the beneficial conversion feature which was limited to the proceeds of the Notes received of approximately $2.0 million, with an offsetting increase to additional paid-in capital. The discount was amortized to interest expense using the effective interest method through the Notes’ maturity date of June 30, 2014.

	On April 25, 2014, the Company amended the convertible promissory notes such that the option to convert the outstanding principal and interest into common shares at a conversion price of $3.50 per share on or after April 30, 2014 was extended to September 30, 2014. Also, in the event that the Company files a registration statement for an IPO with the Securities and Exchange Commission and it becomes effective by September 30, 2014, the $3.50/€3.50 conversion option will be cancelled.

	As of June 30, 2014 and December 31, 2013, the convertible promissory notes and debt discount are as follows:

		June 30, 2014		December 31, 2013
	Convertible promissory notes	$	1,991,754	$	1,973,500
	Debt discount	—		(1,937,269		)
	Foreign exchange effect on Euro denominated notes	15,764		22,039
		$	2,007,518	$	58,270

	For the three months ended June 30, 2014, the Company recognized interest expense of $1.7 million related to the Notes, comprised primarily of the amortization of the debt discount and $40 thousand in coupon interest. For the six months ended June 30, 2014, the Company recognized interest expense of approximately $2.0 million related to the Notes, which includes $1.9 million for the amortization of the debt discount and $79 thousand in coupon interest.

CODEVELOPMENT_AND_LICENSE_AGRE

CO-DEVELOPMENT AND LICENSE AGREEMENT	6 Months Ended
CO-DEVELOPMENT AND LICENSE AGREEMENT	Jun. 30, 2014
CO-DEVELOPMENT AND LICENSE AGREEMENT	'
CO-DEVELOPMENT AND LICENSE AGREEMENT	'
	NOTE 8 — CO-DEVELOPMENT AND LICENSE AGREEMENT

	Upon completion of the Company’s IPO and payment of a $22.0 million license fee in July 2014, the Company closed on a co-development and license agreement dated February 12, 2014, pursuant to which, among other things, the licensor granted the Company an exclusive license, with the right to sublicense, in the European Union, Switzerland, Liechtenstein, Iceland and Norway, referred to as the Minerva Territory, under certain patent and patent applications to sell products containing any orexin 2 compound, controlled by the licensor and claimed in a licensor patent right, as an active ingredient, or MIN-202, for any use in humans. In addition, upon regulatory approval in the Minerva Territory (and earlier if certain default events occur), the Company will have rights to manufacture MIN-202. The Company has granted to the licensor an exclusive license, with the right to sublicense, under all patent rights and know-how controlled by the Company related to MIN-202 to sell MIN-202 outside the Minerva Territory.

	In consideration of the licenses granted, the Company made an initial upfront payment of $22.0 million in July 2014 which will be expensed in the third quarter of 2014 and will pay a quarterly royalty in the high single digits on the aggregate net sales for MIN-202 products sold by the Company, its affiliates and sublicensees in the European Union. The licensor will pay a quarterly royalty in the high single digits on the aggregate net sales for MIN-202 products sold by the licensor outside the European Union.

	The Company will pay 40% of MIN-202 development costs related to the joint development of any MIN-202 products. However, the Company’s share of aggregate development costs shall not exceed (i) $5.0 million for the period beginning from the effective date of the license and ending following the completion of certain Phase Ib clinical trials and animal toxicology studies, and (ii) $24.0 million for the period beginning from the effective date of the license and ending following the completion of certain Phase II clinical trials.

	The licensor has a right to opt out at the end of certain development milestones, with the first milestone being the completion of a single day Phase I clinical trial in patients with Major Depressive Disorder (“MDD”). Upon opt out, the licensor will not have to fund further development of MIN-202 and the Minerva Territory will be expanded to also include all of North America. The Company would then owe the licensor a reduced royalty in the mid-single digits for all sales in the Minerva Territory. The Company has the right to terminate the license following certain development milestones the first being completion of a certain Phase Ib clinical trial in patients with insomnia and certain toxicology studies in animals. If the Company terminates the license within 45 days of this milestone, the Company must pay a termination fee equal to $3.0 million. If the Company terminates the license at any time following the last development milestone involving a certain Phase IIb clinical trial, the Company will be entitled to a royalty in the mid-single digits from sales of MIN-202 by the licensor. The licensor may also terminate the agreement for the Company’s material breach or certain insolvency events, including if the Company is unable to fund its portion of the development costs.

	The Company entered into a common stock purchase agreement with an affiliate of the above mentioned licensor, dated as of February 12, 2014, pursuant to which, among other things, the affiliate agreed to purchase from the Company up to $26.0 million of common stock in a private placement concurrent with the closing of the IPO at a price equal to the IPO price. This investment was consummated simultaneously with the closing of an IPO in July 2014 with the purchase by the affiliate of 3,284,353 shares of common stock resulting in net proceeds to the Company of $19.7 million.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2014
STOCKHOLDERS' EQUITY	'
STOCKHOLDERS' EQUITY	'
	NOTE 9 — STOCKHOLDERS’ EQUITY

	Reverse Stock Split

	The board of directors and holders of the requisite number of outstanding shares of our common stock have approved an amendment to our restated certificate of incorporation to effect a 3.5-to-1 reverse stock split of our outstanding common stock (the “reverse stock split”). The reverse stock split became effective on June 9, 2014 upon the filing of our Certificate of Amendment of the Restated Certificate of Incorporation with the Delaware Secretary of State. The reverse stock split did not result in an adjustment to par value. All issued and outstanding common stock, warrants for common stock, options to purchase common stock, share transactions, and related per share amounts contained in the financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented. On June 9, 2014, the Company amended its Amended and Restated Certificate of Incorporation to increase the total number of authorized shares to 225,000,000 shares, consisting of 125,000,000 shares of common stock, par value $0.0001 per share and 100,000,000 shares of preferred stock, par value $0.0001 per share.

	Common Stock Issued for Nonrecourse Notes

	On April 26, 2012, the Company issued 821,429 shares of its common stock in exchange for a nonrecourse note of $3,058,026 (or approximately $3.71 per share, the “Original Price”). The note payable was due in a single installment on February 28, 2014, and was amended to extend the maturity date to June 30, 2014. The note bears interest at the rate of 0.19% per annum and is secured solely by the underlying stock. The stock purchase agreement contains i) a right of first refusal held by the Company, whereby if a third party buyer offers to buy the holder’s stock at a certain price, then the Company has the right to purchase the stock at that same price; and ii) a standard drag-along in case of a sale of the Company. In lieu of payment, the holder is entitled to offset amounts owed under the nonrecourse note in connection with the Company repurchasing common stock from the holder. The Company has the option (a call option) to repurchase the shares if the holder ceases to provide services to the Company or after June 30, 2014, at the Original Price. The holder has the option (a put option) to require the Company to repurchase the shares at any time at the Original Price.

	In accordance with ASC 718-10-25, the purchase of stock in exchange for a nonrecourse note effectively is the same as granting a stock option. If the value of the underlying shares falls below the note amount, the stockholder will relinquish the stock in lieu of repaying the note and would be in the same position as if he or she never purchased the stock. Further, as the shares sold subject to the nonrecourse note are considered an option for accounting purposes, the Company did not record a nonrecourse note or shares outstanding on the balance sheet. The Company also did not recognize interest income on the note as that interest is included in the exercise price of the option. The ultimate holder of the option can only benefit from the instrument if he continues to provide services to the Company through the time of a change in control, as defined. As a change in control is not deemed probable, stock-based compensation expense was not recorded for the year ended December 31, 2013 or the six months ended June 30, 2014.

	In December 2013, the Company issued 27,925 shares of common stock to the holder, subject to a $97,737 nonrecourse note payable by the holder. The accounting for the additional share issuance is consistent with the 821,429 shares discussed above.

	Sonkei had a similar arrangement with the consultant, whereby Sonkei issued 1,112,500 shares of its common stock in exchange for a nonrecourse note of €1,119,017 (approximately $1.5 million at December 31, 2013). The note payable is due in a single installment on April 30, 2015. The note bears interest at the rate of 0.19% per annum and is secured solely by the underlying stock. As the shares sold subject to the nonrecourse note are considered an option for accounting purposes, the Company did not record a note or shares outstanding on the balance sheet. The Company also did not recognize interest income on the note as that interest is included in the exercise price of the option.

	The ultimate holder of the option can only benefit from the instrument if he continues to provide services to the Company through the time of a change in control, as defined. As a change in control is not deemed probable, stock-based compensation expense will not be recorded until a change in control occurs at the then fair value of the option. The Company assumed this agreement upon the merger with Sonkei, and the Sonkei shares were converted into the Company’s common shares in accordance with the terms of the merger agreement (see Note 3 — Business Combinations).

	On March 31, 2014, the issuer of the $4.7 million nonrecourse notes, which includes accrued interest, remitted to the Company 348,926 shares of common stock with a fair value of $13.51 per share in full settlement of the outstanding note due in a cashless transaction. Additionally, the Company further modified the awards by cancelling the put option and adding a term whereby upon an IPO the award will vest. The remittance of the shares in exchange for settling the outstanding note, the cancellation of the put option, and the addition of the IPO performance condition, represents a modification of the original terms of the stock options. The effect of these changes is that the Company has modified the awards and has converted approximately 1.3 million stock options with an exercise price of $4.7 million to 926,604 shares of non-vested stock (with no exercise price). The non-vested stock is still subject to the above mentioned vesting conditions of a change in control and IPO, which are not deemed probable until they occur. As described in the preceding sentence, the effect of the modification was to replace stock options that were improbable of vesting with non-vested stock that is improbable of vesting and accordingly, the Company will recognize stock-based compensation expense for the non-vested stock at the time that the vesting conditions are deemed probable of occurrence. The following is a summary of common shares issued in exchange for nonrecourse notes for the years December 31, 2012 and 2013 and the six months ended June 30, 2014:

		Common Shares
	Outstanding January 1, 2012	—

	Issued	821,429
	Outstanding December 31, 2012	821,429

	Assumed in Sonkei merger	426,176

	Issued	27,925
	Outstanding December 31, 2013	1,275,530

	Repurchased	(348,926	)
	Balance June 30, 2014	926,604

	The 926,604 shares of non-vested common stock held by the consultant became probable of vesting upon the effectiveness of the Company’s IPO registration statement on June 30, 2014, resulting in a charge for stock-based compensation of approximately $10.5 million, representing the 926,604 shares multiplied by the fair value per share on May 1, 2014, the date the consultant became an employee, less previous compensation expense recorded.

STOCK_OPTION_PLAN

STOCK OPTION PLAN	6 Months Ended
	Jun. 30, 2014
STOCK OPTION PLAN	'
STOCK OPTION PLAN	'
	NOTE 10 — STOCK OPTION PLAN

	The Company adopted the 2013 Equity Incentive Plan (the Plan) in December 2013, which provides for the issuance of options, stock appreciation rights, stock awards and stock units. On April 30, 2014, the Company increased the shares reserved for issuance under the 2013 Equity Incentive Plan to 3,543,754. The exercise price per share shall not be less than the fair value of the Company’s underlying common stock on the grant date and no option may have a term in excess of ten years. Stock option activity under the Plan is as follows:

		Stock Options	Weighted-Average
			Exercise Price
	Outstanding January 1, 2013	—	—

	Granted	646,759	$	9.49
	Outstanding December 31, 2013	646,759	$	9.49

	Granted	1,495,048	$	6
	Outstanding June 30, 2014	2,141,807	$	7.05
	Exercisable June 30, 2014	594,930	$	6.33

	The fair value of each stock option to purchase common stock of the Company granted on December 20, 2013 was estimated by management using the Black-Scholes option pricing model applying the following assumptions: (i) expected term of 5.8 to 10 years, (ii) risk free interest rate of 1.9 to 2.9%, (iii) volatility of 102 to 107%, (iv) no dividend yield and (v) a grant date fair value of common stock of $9.49 per share. The Company recognized stock-based compensation expense for the three and six months ended June 30, 2014 related to these options of $0.3 million and $0.6 million, respectively, which is included in general and administrative expense.

	The table above includes stock options granted on December 20, 2013 to purchase 20,089 of the Company’s common stock which became fully vested and exercisable upon June 30, 2014, the effective date of the Company’s IPO registration statement. The Company recognized stock-based compensation expense for the six months ended June 30, 2014 related to these options of $0.1 million, which is included in general and administrative expense.

	The Company entered into two employment agreements effective May 1, 2014. The aggregate salaries are $655,000 plus an annual bonus target of 50% of their annual salaries and a one-time bonus to one of the employees of $175,000 to be paid within seven days following the closing of an IPO. The employment agreements can be terminated with six-months’ notice and contain severance provisions. In addition, the employment agreements provide for the grant of (1) an aggregate of 539,116 fully vested stock options to purchase common shares of the Company at an exercise price equal to the common stock price issued to the public in connection with an IPO and (2) stock options to purchase an aggregate number of common shares such that, upon the closing of an IPO, the holders will have options equal to 2.2% of the number of fully diluted shares of the Company, which vest over four years. In addition, under the employment agreement with the CEO, the Company is obligated to grant stock options to purchase an aggregate number of common shares such that, upon the pricing of an IPO, the CEO will have options equal to 5% of the number of fully diluted shares of the Company, which vest over 4 years.

	In accordance with these employment agreements, 539,116 stock options were granted upon the effective date of the Company’s IPO registration statement, and were 100% vested on the grant date. The Company recognized stock-based compensation expense related to these options of approximately $2.8 million for the three and six months ended June 30, 2014. The fair value of each stock option to purchase common stock of the Company granted on June 30, 2014 was estimated by management using the Black Scholes option pricing model applying the following assumptions: (i) expected term of 6.25 years, (ii) risk free interest rate of 1.94%, (iii) volatility of 113%, (iv) no dividend yield and (v) a grant date fair value of common stock of $6.00 per share.

	Also in accordance with the above three employment agreements, an additional 955,932 stock options were granted upon the effective date of the Company's registration statement, which vest over a four-year period beginning from November 12, 2013, the date of the Sonkei Merger. The Company recognized stock-based compensation expense related to these options of approximately $0.8 million for the three and six months ended June 30, 2014. The fair value of each stock option to purchase common stock of the Company granted on June 30, 2014 was estimated by management using the Black Scholes option pricing model applying the following assumptions: (i) expected term of 6.25 years, (ii) risk free interest rate of 1.94%, (iii) volatility of 113%, (iv) no dividend yield and (v) a grant date fair value of common stock of $6.00 per share.

	The weighted average fair value of stock options granted in June 2014 was $5.11 per share. Total unrecognized compensation costs related to non-vested awards at June 30, 2014 was approximately $8.0 million and is expected to be recognized within future operating results over a period of 3.3 years. At June 30, 2014, the weighted average contractual term of the options outstanding is approximately 9.9 years. The intrinsic value of outstanding stock options at June 30, 2014 was zero.

INCOME_TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2014
INCOME TAXES	'
INCOME TAXES	'
	NOTE 11 — INCOME TAXES

	There was no provision for income taxes for the three and six month periods ended June 30, 2014 and 2013 due to losses.

	As of December 31, 2013, the Company has approximately $16.0 million of Federal net operating losses that will begin to expire in 2027. As of December 31, 2013, the Company had approximately $11.0 million of New Jersey operating losses that will begin to expire in 2014. As of December 31, 2013, the Company had approximately $0.2 million of federal research and development credits that will begin to expire in 2027. The Internal Revenue Code (“IRC”) limits the amounts of net operating loss carryforwards that a company may use in any one year in the event of certain cumulative changes in ownership over a three-year period as described in Section 382 of the IRC. The Company has not performed a detailed analysis to determine whether an ownership change has occurred as of December 31, 2013.

	Deferred tax liabilities related to indefinite-lived assets typically are not used as a source of income to support realization of deferred tax assets in jurisdictions where tax attributes expire (e.g., jurisdictions where net operating loss carryforwards expire) unless the deferred tax liability is expected to reverse prior to the expiration date of the tax attribute. Therefore, the net operating losses of Sonkei cannot be used to offset the deferred tax liability resulting from the IPR&D due to the fact that the IPR&D currently has an indefinite life while the NOLs have a maximum life of 20 years.

COMMITMENTS

COMMITMENTS	6 Months Ended
COMMITMENTS	Jun. 30, 2014
COMMITMENTS	'
COMMITMENTS	'
	NOTE 12 — COMMITMENTS

	In November 2013, the Company hired a Chief Executive Officer (“CEO”) pursuant to an employment contract, which calls for a base salary of $425,000 plus bonus of up to 50% of base salary, a special bonus of $250,000 upon successful consummation of an IPO and severance arrangements if terminated for cause or terminated not for cause. In addition, on December 20, 2013, the CEO was granted an option to purchase 5%, or 540,722 shares, of the outstanding common stock of the Company with an exercise price equal to the per share fair value of the Company on such date, which was $9.49 per share. The option will vest ratably over 4 years. Further, upon the pricing of an IPO, which occured on June 30, 2014, the CEO was granted an “anti-dilution option” to purchase a number of shares of common stock of the Company, with an exercise price equal to $6.00, such that when the option and anti-dilution option are aggregated, the CEO will hold 5% of fully diluted outstanding shares expected to be outstanding on the closing of the IPO. In accordance with this agreement, the Company granted options to purchase 498,621 common shares of the Company discussed in Note 10 - Stock Option Plan.

	On February 11, 2014, the Company entered into an agreement with Quotient Ltd, a Contract Research Organization based in Nottingham, UK to conduct a two-part study to evaluate the pharmacokinetic profile of MIN-101 modified release prototype formulations, and to evaluate the relationship between the pharmacokinetic profile and cardiovascular parameters following multiple dose administration. The total cost of the project is €1.6 million (or $2.2 million, as converted).

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2014
RELATED PARTY TRANSACTIONS	'
RELATED PARTY TRANSACTIONS	'
	NOTE 13 — RELATED PARTY TRANSACTIONS

	An investor provided accounting and other services to the Company and Sonkei for $60 thousand per Company per year during 2013 and early 2014. For the six months ended June 30, 2014 and 2013, the expense recognized in operating results in connection with these services was $35 thousand and $30 thousand, respectively. For the three months ended June 30, 2014 and 2013, the expense recognized in operating results in connection with these services was $15 thousand in both periods.

	The Company retained the services of certain consultants who were also stockholders of the Company. For the six months ended June 30, 2014 and 2013, the expense recognized by the Company in connection with these services was $0.3 million and $0.2 million, respectively. For the three months ended June 30, 2014 and 2013, the expense recognized by the Company in connection with these services was $0.2 million and $0.1 million, respectively.

	The Company’s convertible promissory notes and loans payable are held by certain stockholders and their affiliates. Accrued interest payable of approximately $0.1 million as listed in Note 7 at June 30, 2014 relates to these promissory notes and bridge loans. Interest expense for the six month periods ended June 30, 2014 and 2013 was $2.0 million and $0, respectively.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2014
SUBSEQUENT EVENTS	'
SUBSEQUENT EVENTS	'
	NOTE 14 — SUBSEQUENT EVENTS

	The Company evaluated subsequent events for financial reporting purposes through August 7, 2014, the date which the financial statements were available to be issued to determine whether any events occurred that required disclosure in the accompanying financial statements.

	On July 7, 2014, the Company closed the sale of 5,454,545 shares of its common stock at a price to the public of $6.00 per share, or an aggregate of approximately $32.7 million. Net proceeds to the Company were approximately $25.2 million, after deducting the underwriting discount of $2.3 million, expenses of approximately $3.1 million, repayment of the bridge loans of $1.4 million and the ProteoSys license payment of $0.7 million.

	On July 7, 2014, the Company closed the sale in a private placement of 666,666 shares of its common stock at a price of $6.00 per share, or an aggregate of approximately $4.0 million. Net proceeds to the Company were approximately $3.7 million, after deducting the underwriting discount of $0.3 million.

	On July 7, 2014, in accordance with the license agreement for MIN-202, Johnson & Johnson Development Corporation, or JJDC, an affiliate of Janssen Pharmaceutica N.V., or Janssen, purchased 3,284,353 shares of the Company’s common stock in a private placement resulting in net proceeds to the Company of approximately $19.7 million.

	In July 2014, in accordance with the Company’s license agreement for MIN-202 (see Note 8), the Company paid a $22.0 million license fee to Janssen which will be expensed in the third quarter of 2014.

	In conjunction with the IPO, the Company’s 8% convertible promissory notes due June 30, 2014 in the face amount of $1.3 million and €518,519 ($0.7 million as of June 30, 2014), including $0.1 million in accrued interest, were converted at the IPO price of $6.00 per share into 352,000 shares of the Company’s common stock.

	In July 2014, the Company repaid its outstanding working capital loans and accrued interest of approximately $1.4 million.

	On July 29, 2014, the Company closed the sale of an over-allotment of 160,993 shares of its common stock at a price of $6.00 per share, resulting in net proceeds to the Company of approximately $0.9 million, after deducting the underwriting discount of approximately $0.1 million.

	In July 2014, in accordance with certain employment agreements, the Company granted stock options to purchase an aggregate of 366,562 shares of common stock at an exercise price of $6.00 per share to certain employees and directors of the Company for which the Company will begin to recognize stock-based compensation expense in the third quarter of 2014. These options vest over four years.

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2014
SIGNIFICANT ACCOUNTING POLICIES	'
Basis of presentation	'
	Basis of presentation

	The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and as required by Regulation S-X, Rule 10-01. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of the Company’s management, the accompanying unaudited financial statements contain all adjustments (consisting of items of a normal and recurring nature) necessary to present fairly the financial position as of June 30, 2014 and the results of operations for the three and six months ended June 30, 2014 and 2013 and cash flows for the six months ended June 30, 2014 and 2013. The results of operations for the three and six months ended June 30, 2014, are not necessarily indicative of the results to be expected for the full year. When preparing financial statements in conformity with GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.

	Actual results could differ from those estimates. The balance sheet as of December 31, 2013 was derived from the audited financial statements. The accompanying unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the audited financial statements for the years ended December 31, 2013 and 2012.

	From its inception the Company has devoted substantially all of its efforts to business planning, engaging regulatory, manufacturing and other technical consultants, planning and executing clinical trials and raising capital.
Consolidation	'
	Consolidation

	The accompanying consolidated financial statements include the results of the Company and its wholly-owned subsidiary, Mind-NRG. Intercompany transactions have been eliminated.
Significant risks and uncertainties	'
	Significant risks and uncertainties

	The Company’s operations are subject to a number of factors that can affect its operating results and financial condition. Such factors include, but are not limited to: the results of clinical testing and trial activities of the Company’s products, the Company’s ability to obtain regulatory approval to market its products, competition from products manufactured and sold or being developed by other companies, the price of, and demand for, Company products, the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products, and the Company’s ability to raise capital.

	The Company currently has no commercially approved products and there can be no assurance that the Company’s research and development will be successfully commercialized. Developing and commercializing a product requires significant time and capital and is subject to regulatory review and approval as well as competition from other biotechnology and pharmaceutical companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting intellectual property.
Use of estimates	'
	Use of estimates

	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

	The Company utilizes significant estimates and assumptions in determining the fair value of its common stock. The board of directors has determined the estimated fair value of the Company’s common stock based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector, discounted cash flows and the likelihood of achieving a liquidity event, such as an IPO of common stock or a sale of the Company. The Company utilized various valuation methodologies in accordance with the framework of the 2013 American Institute of Certified Public Accountants Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation, to estimate the fair value of its common stock. The methodologies included a probability-weighted expected return methodology that determined an estimated value under an IPO scenario and a sale scenario based upon an assessment of the probability of occurrence of each scenario. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates include assumptions regarding future performance, including the successful completion of preclinical studies and clinical trials and the time to complete an IPO or sale. Significant changes to the key assumptions used in the valuations could result in different fair values of common stock at each valuation date.
Research and development costs	'
	Research and development costs

	Costs incurred in connection with research and development activities are expensed as incurred. These costs include licensing fees to use certain technology in the Company’s research and development projects as well as fees paid to consultants and various entities that perform certain research and testing on behalf of the Company. Costs for certain development activities, such as clinical trials are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided by vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected in the financial statements as prepaid or accrued expenses.

	In-process research and development (“IPR&D”) assets represent capitalized incomplete research projects that the Company acquired through business combinations. Such assets are initially measured at their acquisition date fair values. The fair value of the research projects is recorded as intangible assets on the balance sheet, rather than expensed, regardless of whether these assets have an alternative future use.

	The amounts capitalized are being accounted for as indefinite-lived intangible assets, subject to impairment testing, until completion or abandonment of research and development efforts associated with the project. An IPR&D asset is considered abandoned when it ceases to be used (that is, research and development efforts associated with the asset have ceased, and there are no plans to sell or license the asset or derive defensive value from the asset). At that point, the asset is considered to be disposed of and is written off. Upon successful completion of each project, the Company will make a determination about the then remaining useful life of the intangible asset and begin amortization. The Company tests its indefinite-lived intangibles, IPR&D assets, for impairment annually on November 30 and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. When testing indefinite-lived intangibles for impairment, the Company may assess qualitative factors for its indefinite-lived intangibles to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the asset is impaired. Alternatively, the Company may bypass this qualitative assessment for some or all of its indefinite-lived intangibles and perform the quantitative impairment test that compares the fair value of the indefinite- lived intangible asset with the asset’s carrying amount.
Stock-based compensation	'
	Stock-based compensation

	The Company recognizes compensation cost relating to share-based payment transactions in operating results using a fair-value measurement method, in accordance with Financial Accounting Standards Board (“FASB”) Accounting Series Codification (“ASC”) -718 Compensation-Stock Compensation. ASC-718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in operating results as compensation expense based on fair value over the requisite service period of the awards. The Company will determine the fair value of share-based awards using the Black-Scholes option-pricing model which uses both historical and current market data to estimate fair value. The method incorporates various assumptions such as the risk-free interest rate, expected volatility, expected dividend yield, expected forfeiture rate and expected life of the options.

	Grants to non-employees are accounted for in accordance with ASC-505-50 Equity — Based Payments to Non-Employees. The date of expense recognition is the earlier of the date at which a commitment for performance by the counterparty to earn the equity instrument is reached or the date at which the counterparty’s performance is complete. The Company determines the fair value of share-based awards granted to non-employees similar to the way fair value of awards are determined for employees except that certain assumptions used in the Black-Scholes option-pricing model, such as expected life of the option, may be different and the fair value of each unvested award is adjusted at the end of each period for any change in fair value from the previous valuation until the award vests.
Loss per share	'
	Loss per share

	Basic loss per share excludes dilution and is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the entity.
Income taxes	'
	Income taxes

	The Company utilizes the liability method of accounting for income taxes as required by ASC Topic 740 Income Taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax reporting bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Uncertain tax positions are evaluated in accordance with this topic and if appropriate, the amount of unrecognized tax benefits are recorded within deferred tax assets. Deferred tax assets are evaluated for realization based on a more-likely-than-not criterion in determining if a valuation allowance should be provided. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.

	ASC Topic 740 also clarifies the accounting for uncertainty in income taxes recognized in the consolidated financial statements. The interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken, or expected to be taken, in a tax return. ASC Topic 740 provides guidance on the recognition of interest and penalties related to income taxes. There were no interest or penalties related to income taxes for the three and six months ended June 30, 2014 and 2013. The Company has elected to treat interest and penalties, to the extent they arise, as a component of income taxes. Income tax years beginning in 2010 for federal and state purposes are generally subject to examination by taxing authorities, although net operating losses from all prior years are subject to examinations and adjustments for at least three years following the year in which the tax attributes are utilized.
Deferred public offering costs	'
	Deferred public offering costs

	Deferred public offering costs include certain legal, accounting and other costs directly attributable to the Company’s public offering of common stock. Upon completion of the initial public offering on July 7, 2014, these amounts will be offset against the proceeds of the offering.
Business combinations	'
	Business combinations

	For business combinations the Company utilizes the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. These standards require that the total cost of an acquisition be allocated to the tangible and intangible assets acquired and liabilities assumed based their respective fair values at the date of acquisition. The allocation of the purchase price is dependent upon certain valuations and other studies. Acquisition costs are expensed as incurred. The Company recognizes separately from goodwill the fair value of assets acquired and the liabilities assumed. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the acquisition date fair values of the assets acquired and liabilities assumed. While the Company uses its best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, the Company’s estimates are subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may retroactively record adjustments to the fair value of the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of operations.
Goodwill	'
	Goodwill

	The Company tests its goodwill for impairment annually, or whenever events or changes in circumstances indicate an impairment may have occurred, by comparing its reporting unit’s carrying value to its implied fair value. Impairment may result from, among other things, deterioration in the performance of the acquired business, adverse market conditions, adverse changes in applicable laws or regulations and a variety of other circumstances. If the Company determines that an impairment has occurred, it is required to record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. In evaluating the recoverability of the carrying value of goodwill the Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the acquired assets. Changes in strategy or market conditions could significantly impact those judgments in the future and require an adjustment to the recorded balances. The Company tested its goodwill for impairment as of November 30. There was no impairment of goodwill for the year ended December 31, 2013. The Company believes there was no impairment for the three and six months ended June 30, 2014.
Convertible promissory notes	'
	Convertible promissory notes

	The Company’s convertible promissory notes at June 30, 2014 consist of (i) $1.3 million face value convertible promissory notes, plus accrued interest of approximately $67,000 and (ii) €518,519 face value convertible promissory notes, plus accrued interest of approximately $35,000. The Euro denominated notes were acquired in conjunction with the merger with Sonkei (discussed further in Note 3 — Business Combinations), and recorded at their fair value of approximately $0.7 million on the date of the merger. At June 30, 2014, the fair market value and carrying of the convertible promissory notes is approximately $2.0 million.

	Discount Purchase Option

	The Company’s 8% convertible promissory notes contain an embedded derivative related to the conversion option containing a discount purchase feature in a qualified financing, as defined. The derivative is carried at fair value and is classified as Level 3 in the fair value hierarchy due to the use of significant unobservable inputs. As of December 31, 2013, the fair value of the derivative liability was determined to be $10,093 using a probability-weighted valuation model applying the following assumptions: (i) discount rate of 8.0%, (ii) remaining term of approximately 6 months and (iii) the probabilities of conversion under various circumstances as at the date of measurement.

	As of March 31, 2014, the fair value of the derivative liability was determined to be $4,900 using a probability-weighted valuation model applying the following assumptions: (i) discount rate of 8.0%, (ii) remaining term of approximately 3 months and (iii) the probabilities of conversion under various circumstances as at the date of measurement. The $5,193 decrease in the fair value of the derivative liability was recognized in interest expense as a gain on change in fair value of derivative liability for the three months ended March 31, 2014.

	As of June 30, 2014, the fair value of the derivative liability was determined to be $0. The $4,900 decrease in the fair value of the derivative liability was recognized in interest expense as a gain on change in fair value of derivative liability for the three months ended June 30, 2014.

	$3.50/€3.50 Conversion Option

	The Company’s 8% convertible promissory notes contain an embedded derivative related to the beneficial conversion feature of the notes. The initial fair value of the derivative liability at the date of issuance in November 2013 was determined by measuring the difference between the conversion price and the fair value of common stock at the commitment date. The Company recorded a debt discount for the fair value of the derivative, which was limited to the proceeds received of approximately $2.0 million, with an offsetting increase to additional paid-in capital. The beneficial conversion charge has been included in the balance sheets at June 30, 2014 and December 31, 2013 as a discount to the related convertible promissory notes. The discount was accreted as non-cash interest expense over the expected term of the debt (June 30, 2014) using the effective interest method, which totaled approximately $1.7 million and $2.0 million for the three and six months ended June 30, 2014, respectively.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements

	From time to time, new accounting pronouncements are issued by FASB and are adopted by the Company as of the specified effective date. The Company believes that the impact of other recently issued but not yet adopted accounting pronouncements will not have a material impact on the financial position, results of operations, and cash flows, or do not apply to the Company’s operations.

	In June 2014, the FASB issued Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915) which eliminates the definition of a development stage entity and removes the financial reporting distinction between development stage entities and other reporting entities under GAAP. The Company early adopted this standard and thus has eliminated its historical inception to date information in the financial statements.

BUSINESS_COMBINATIONS_Tables

BUSINESS COMBINATIONS (Tables)	6 Months Ended
BUSINESS COMBINATIONS (Tables)	Jun. 30, 2014
BUSINESS COMBINATIONS	'
Schedule of unaudited pro forma financial information	'

		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Operating loss	$	(19,365,662	)	$	(928,569	)	$	(22,756,955	)	$	(1,571,977	)
	Loss per share	$	(2.55	)	$	(0.13	)	$	(2.99	)	$	(0.22	)
Mind-NRG	'
BUSINESS COMBINATIONS	'
Schedule of assets acquired and liabilities assumed	'
	The aggregate consideration of $16.5 million has been allocated to assets acquired and liabilities assumed based on estimated fair values at the February 11, 2014 as follows:

	Cash	$	1,167,869
	Other assets	71,130
	Goodwill	7,185,852
	In-process research and development	15,200,000
	Deferred tax liability	(6,080,000		)
	Accrued expenses	(321,417		)
	Proteosys milestone payable	(681,600		)
		$	16,541,834
Sonkei	'
BUSINESS COMBINATIONS	'
Schedule of assets acquired and liabilities assumed	'
	The aggregate consideration of $18.9 million has been allocated to assets acquired and liabilities assumed based on estimated fair values at the date of merger November 12, 2013 as follows:

	Cash	$	631,478
	Goodwill	7,918,387
	In-process research and development	19,000,000
	Accrued expenses	(334,423		)
	Derivative liability	(3,476		)
	Deferred taxes	(7,588,600		)
	Convertible promissory notes (see Note 7)	(680,000		)
		$	18,943,366

ACCRUED_EXPENSES_AND_OTHER_LIA1

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2014
ACCRUED EXPENSES AND OTHER LIABILITIES	'
Schedule of accrued expenses and other liabilities	'

		June 30, 2014		December 31, 2013

	Research and development costs	$	350,784	$	58,117
	Professional fees (1)	210,000		595,215
	Expenses due to related parties	177,230		126,910
	Interest payable	114,429		24,276
	Vacation pay	26,090		5,690
	Bonus (2)	486,000		—
	ProteoSys milestone payable (3)	682,250		—
	Primomed research funding (4)	236,294		—
	Consulting and other costs	55,388		5,031
		$	2,338,465	$	815,239

	(1) Included in accrued professional fees at June 30, 2014 and December 31, 2013 are $0.2 million and $0.4 million, respectively, incurred in connection with the preparation of a public offering of the Company’s common stock.
	(2) Under the terms of certain employment agreements, the Company is obligated to pay $0.5 million in bonuses upon the completion of an IPO. The Company’s registration statement was declared effective on June 30, 2014 and thus, the bonuses became probable. The portion accrued as of June 30, 2014 represents the amortization of the bonus expense from the date of the employment agreements through June 30, 2014.
	(3) Under the terms of the acquisition agreement for Mind-NRG, the Company is obligated to make a €0.5 million (or $0.7 million, as converted) milestone payment to ProteoSys by the earlier of January 1, 2015, or upon completion of an IPO, or equity financing of at least $5.0 million.
	(4) Under the terms of a research agreement with Primomed, the Company received grant funds that will be used to offset certain costs under the MIN-301 development program.

NET_LOSS_PER_SHARE_OF_COMMON_S1

NET LOSS PER SHARE OF COMMON STOCK (Tables)	6 Months Ended
NET LOSS PER SHARE OF COMMON STOCK (Tables)	Jun. 30, 2014
NET LOSS PER SHARE OF COMMON STOCK	'
Schedule of computation of basic and diluted loss per share for common stockholders	'

		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
	Net loss	$	(19,365,662	)	$	(375,953	)	$	(22,304,080	)	$	(647,283	)
	Weighted average shares of common stock outstanding	7,604,503			3,916,774			7,255,648			3,740,593
	Net loss per share of common stock – basic and diluted	$	(2.55	)	$	(0.10	)	$	(3.07	)	$	(0.17	)
Schedule of securities outstanding excluded from the calculation of weighted average shares outstanding	'

		June 30,		June 30,
		2014		2013
	Non-vested stock issued (see Note 9 – Stockholders’ Equity)	—		821,429
	Common stock options	2,141,807		—

DEBT_Tables

DEBT (Tables)	6 Months Ended
	Jun. 30, 2014
DEBT	'
Schedule of convertible promissory notes and debt discount	'

		June 30, 2014		December 31, 2013
	Convertible promissory notes	$	1,991,754	$	1,973,500
	Debt discount	—		(1,937,269		)
	Foreign exchange effect on Euro denominated notes	15,764		22,039
		$	2,007,518	$	58,270

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Jun. 30, 2014
STOCKHOLDERS' EQUITY	'
Summary of common shares issued in exchange for nonrecourse notes	'

		Common Shares
	Outstanding January 1, 2012	—

	Issued	821,429
	Outstanding December 31, 2012	821,429

	Assumed in Sonkei merger	426,176

	Issued	27,925
	Outstanding December 31, 2013	1,275,530

	Repurchased	(348,926	)
	Balance June 30, 2014	926,604

STOCK_OPTION_PLAN_Tables

STOCK OPTION PLAN (Tables)	6 Months Ended
STOCK OPTION PLAN (Tables)	Jun. 30, 2014
STOCK OPTION PLAN	'
Schedule of stock option activity	'

		Stock Options	Weighted-Average
		Stock Options	Exercise Price
	Outstanding January 1, 2013	—	—

	Granted	646,759	$	9.49
	Outstanding December 31, 2013	646,759	$	9.49

	Granted	1,495,048	$	6
	Outstanding June 30, 2014	2,141,807	$	7.05
	Exercisable June 30, 2014	594,930	$	6.33

NATURE_OF_OPERATIONS_AND_LIQUI1

NATURE OF OPERATIONS AND LIQUIDITY (Details) (USD $)	6 Months Ended		1 Months Ended	0 Months Ended			1 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jul. 31, 2014	Jul. 07, 2014	Jul. 07, 2014	Feb. 12, 2014	Jul. 31, 2014	Feb. 11, 2014
			Loans payable	IPO	ProteoSys	Co-development and license agreement	Co-development and license agreement	Mind-NRG
			Subsequent event	Subsequent event	IPO	Co-development licensor	Co-development licensor
					Subsequent event	MIN-202	MIN-202
							Subsequent event
Nature of operations and liquidity	'	'	'	'	'	'	'	'
Share capital acquired (as a percent)	'	'	'	'	'	'	'	100.00%
Initial upfront license fee payable	'	'	'	'	'	$22,000,000	'	'
Payments of License Fees	'	'	'	'	700,000	'	22,000,000	'
Accumulated deficit	-40,133,871	-17,829,791	'	'	'	'	'	'
Net proceeds from IPO	'	'	'	29,900,000	'	'	'	'
Underwriter discount	'	'	'	2,600,000	'	'	'	'
Stock issuance expenses	105,417	'	'	3,100,000	'	'	'	'
Loans repayment	$500,000	'	$1,400,000	'	'	'	'	'

SIGNIFICANT_ACCOUNTING_POLICIE2

SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Income taxes	'	'	'	'	'
Interest or penalties related to income taxes	$0	$0	$0	$0	'
Goodwill	'	'	'	'	'
Impairment of goodwill	$0	'	$0	'	$0

SIGNIFICANT_ACCOUNTING_POLICIE3

SIGNIFICANT ACCOUNTING POLICIES (Details 2)

3 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Nov. 06, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Nov. 06, 2013

Jun. 30, 2014

Nov. 12, 2013

USD ($)

Convertible promissory notes

USD ($)

EUR (€)

Sonkei

USD ($)

EUR (€)

USD ($)

EUR (€)

Convertible Promissory Notes

Face value

$1,300,000

$700,000

€ 518,519

$680,000

€ 518,519

Accrued interest

114,429

24,276

67,000

35,000

Fair value of convertible promissory notes

2,000,000

Carrying value of convertible promissory notes

2,007,518

58,270

2,007,518

58,270

Interest rate (as a percent)

8.00%

Fair value of derivative liability

4,900

10,093

9,976

Discount rate (as a percent)

8.00%

Remaining term

'7 months

'3 months

'6 months

Decrease in fair value of the derivative liability

4,900

5,193

Conversion price (in dollars per share)

$3.50

€ 3.50

Debt discount

1,937,269

2,000,000

Accretion of discount

$1,726,380

$2,035,583

$1,700,000

$2,000,000

BUSINESS_COMBINATIONS_Details

BUSINESS COMBINATIONS (Details)

3 Months Ended

6 Months Ended

0 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Nov. 06, 2013

Jun. 30, 2014

Feb. 11, 2014

Nov. 12, 2013

Jun. 30, 2014

Nov. 12, 2013

USD ($)

Convertible promissory notes

ProteoSys

Mind-NRG

Sonkei

USD ($)

EUR (€)

USD ($)

ProteoSys

In-process research and development

USD ($)

Convertible promissory notes

Non-employee holding common stock with nonrecourse note

In-process research and development

USD ($)

EUR (€)

USD ($)

EUR (€)

USD ($)

BUSINESS COMBINATIONS

Conversion ratio

0.383

Number of shares of common stock

1,481,583

2,423,368

Number of shares held in escrow

148,160

Issuance of shares for business acquisition (in shares)

1,997,192

Estimated fair value (in dollars per share)

$11.17

$9.49

Aggregate consideration

$16,500,000

$18,900,000

Voting interest (as a percent)

100.00%

Number of shares held

1,112,500

Number of shares issued

426,176

Net operating losses

5,300,000

Assets acquired and liabilities assumed based on estimated fair values

Cash

1,167,869

631,478

Other Assets

71,130

Goodwill

15,104,239

7,918,387

7,185,852

7,918,387

Intangible assets

15,200,000

19,000,000

Deferred tax liability

-6,080,000

-7,588,600

Accrued expenses

-321,417

-334,423

Derivative liability

-3,476

Milestone payable

-682,250

-500,000

-681,600

Convertible promissory notes (see Note 7)

-1,300,000

-700,000

-518,519

-680,000

-518,519

Total

16,541,834

18,943,366

Unaudited pro forma financial information

Operating loss

($19,365,662)

($928,569)

($22,756,955)

($1,571,977)

Loss per share (in dollars per share)

($2.55)

($0.13)

($2.99)

($0.22)

ACCRUED_EXPENSES_AND_OTHER_LIA2

ACCRUED EXPENSES AND OTHER LIABILITIES (Details)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
	USD ($)	USD ($)	ProteoSys	ProteoSys	ProteoSys
			USD ($)	EUR (€)	Minimum
					USD ($)
Accrued expenses and other liabilities	'	'	'	'	'
Research and development costs	$350,784	$58,117	'	'	'
Professional fees	210,000	595,215	'	'	'
Expenses due to related parties	177,230	126,910	'	'	'
Interest payable	114,429	24,276	'	'	'
Vacation pay	26,090	5,690	'	'	'
Bonus	486,000	'	'	'	'
ProteoSys milestone payable	'	'	682,250	500,000	'
Primomed research funding	236,294	'	'	'	'
Consulting and other costs	55,388	5,031	'	'	'
Accrued expenses and other liabilities	2,338,465	815,239	'	'	'
Cost incurred in connection with the preparation of a public offering of the Company's common stock included in accrued professional fees	200,000	400,000	'	'	'
Equity financing obligation	'	'	'	'	$5,000,000

NET_LOSS_PER_SHARE_OF_COMMON_S2

NET LOSS PER SHARE OF COMMON STOCK (Details) (USD $)	3 Months Ended		6 Months Ended
NET LOSS PER SHARE OF COMMON STOCK (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
NET LOSS PER SHARE OF COMMON STOCK	'	'	'	'
Net loss	($19,365,662)	($375,953)	($22,304,080)	($647,283)
Weighted-average shares of common stock outstanding	7,604,503	3,916,774	7,255,648	3,740,593
Net loss per share of common stock - basic and diluted (in dollars per share)	($2.55)	($0.10)	($3.07)	($0.17)
Non-vested stock issued	'	'	'	'
Securities outstanding excluded from the calculation of weighted average shares outstanding	'	'	'	'
Securities outstanding excluded from the calculation of weighted average shares outstanding	'	'	'	821,429
Common stock options	'	'	'	'
Securities outstanding excluded from the calculation of weighted average shares outstanding	'	'	'	'
Securities outstanding excluded from the calculation of weighted average shares outstanding	'	'	2,141,807	'

LICENSE_AGREEMENT_Details

LICENSE AGREEMENT (Details) (License Agreement, Mitsubishi, USD $)	1 Months Ended
In Millions, unless otherwise specified	Jan. 31, 2014
	item
MIN-101	'
License Agreement	'
Potential milestone payments upon achievement of milestone	$0.50
Number of development milestones required	1
Potential extension payment	0.5
MIN-101 \| Maximum	'
License Agreement	'
Potential milestone payments upon achievement of milestone	47.5
MIN-117	'
License Agreement	'
Potential extension payment	0.5
Term of extension of the agreement	'1 year
MIN-117 \| Maximum	'
License Agreement	'
Potential milestone payments upon achievement of milestone	$47.50

DEBT_Details

DEBT (Details)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

0 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Feb. 11, 2014

31-May-14

Nov. 06, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Nov. 06, 2013

Jun. 30, 2014

Nov. 12, 2013

USD ($)

Loans payable

April Bridge Loan

May Bridge Loan

Convertible Promissory Notes

Mind-NRG

USD ($)

EUR (€)

Minimum

Sonkei

USD ($)

EUR (€)

USD ($)

EUR (€)

DEBT

Maximum drawdown amount

$600,000

$1,000,000

Interest rate (as a percent)

8.00%

Interest rate under terms of default (as a percent)

11.00%

Balance outstanding

1,382,817

1,400,000

600,000

Principal amount

1,300,000

700,000

518,519

680,000

518,519

Percentage multiplied to price per share paid by the Investors for each share of common stock to determine conversion price

80.00%

Amount of gross proceeds to be received for defining transaction as qualified financing

5,000,000

Conversion price (in dollars per share)

$3.50

€ 3.50

Fair value of derivative liability

4,900

10,093

9,976

Discount rate (as a percent)

8.00%

Remaining term

'7 months

'3 months

'6 months

Decrease in fair value of the derivative liability

4,900

5,193

Convertible promissory notes

1,991,754

1,973,500

Debt discount

-1,937,269

-2,000,000

Foreign exchange effect on Euro denominated notes

15,764

22,039

Convertible promissory notes, net

2,007,518

58,270

2,007,518

58,270

Interest expense

1,726,380

2,035,583

11,000

1,700,000

2,000,000

Amortization of the debt discount

1,949,248

1,900,000

Coupon interest

$40,000

$79,000

CODEVELOPMENT_AND_LICENSE_AGRE1

CO-DEVELOPMENT AND LICENSE AGREEMENT (Details) (USD $)	6 Months Ended	0 Months Ended			1 Months Ended	0 Months Ended
	Jun. 30, 2013	Feb. 12, 2014	Feb. 12, 2014	Feb. 12, 2014	Jul. 31, 2014	Jul. 07, 2014	Feb. 12, 2014
		Co-development and license agreement	Co-development and license agreement	Co-development licensor	Co-development licensor	Co-development licensor	Co-development licensor
		MIN-202	MIN-202	Co-development and license agreement	Co-development and license agreement	Common stock purchase agreement	Common stock purchase agreement
		Period one	Period two	MIN-202	MIN-202	Subsequent event	Maximum
		Maximum	Maximum		Subsequent event
Co-development and license agreement	'	'	'	'	'	'	'
Payments of License Fees	'	'	'	'	$22,000,000	'	'
Percentage of development costs related to joint development of products	'	'	'	40.00%	'	'	'
Share of aggregate development cost following completion of Phase Ib clinical trials and animal toxicology studies	'	5,000,000	24,000,000	'	'	'	'
Period within which agreement is terminated related to Phase Ib clinical trials milestone	'	'	'	'45 days	'	'	'
Termination fees related to Phase Ib clinical trial milestone	'	'	'	3,000,000	'	'	'
Common stock agreed to be issued (in shares)	'	'	'	'	'	'	26,000,000
Common stock issued (in shares)	'	'	'	'	'	3,284,353	'
Net proceeds from issuance of common stock	$1,850,000	'	'	'	'	$19,700,000	'

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details)

0 Months Ended

6 Months Ended

0 Months Ended

1 Months Ended

12 Months Ended

Jun. 09, 2014

Jun. 30, 2014

Jun. 09, 2014

Dec. 31, 2013

Nov. 12, 2013

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Apr. 26, 2012

Dec. 31, 2013

USD ($)

Sonkei

Common Stock

Nonrecourse note

USD ($)

Sonkei

USD ($)

EUR (€)

Stockholder's equity

Reverse stock split ratio

3.5

Total number of authorized shares

225,000,000

Common stock, shares authorized

125,000,000

Common stock, par value (in dollars per share)

$0.00

Preferred stock, shares authorized

100,000,000

Preferred stock, par value (in dollars per share)

$0.00

Share price (in dollars per share)

$13.51

$3.71

Face amount

$4,700,000

$97,737

$3,058,026

$1,500,000

€ 1,119,017

Interest rate (as a percent)

0.19%

Number of stock options (in shares)

1,300,000

Exercise price of stock options

4,700,000

Number of non-vested stock upon conversion of stock option (in shares)

926,604

Exercise price of non-vested stock

Stock based compensation expense

$10,500,000

Outstanding at the beginning of the period (in shares)

8,520,925

6,112,738

926,604

Issued (in shares)

27,925

821,429

1,112,500

Assumed in merger (in shares)

1,997,192

1,481,583

426,176

Number of shares remitted

-348,926

Outstanding at the end of the period (in shares)

8,520,925

6,112,738

1,275,530

821,429

STOCK_OPTION_PLAN_Details

STOCK OPTION PLAN (Details) (USD $)

0 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

Apr. 30, 2014

1-May-14

Dec. 20, 2013

Nov. 30, 2013

Jun. 30, 2014

Nov. 30, 2013

Jun. 30, 2014

Dec. 20, 2013

Jun. 30, 2014

Dec. 31, 2013

Dec. 20, 2013

Jun. 30, 2014

Dec. 20, 2013

Jun. 30, 2014

Employment contract

Stock Option

Stock Options - fully vest upon IPO

item

Maximum

CEO

Minimum

Maximum

Employment contract

Maximum

Award vested on grant date

Award vested over four year period beginning November 12, 2013

item

STOCK OPTION PLAN

Number of shares of common stock reserved for issuance

3,543,754

Term of share-based award

'10 years

Stock Options

Outstanding at the beginning of period (in shares)

646,759

Granted (in shares)

540,722

498,621

1,495,048

646,759

539,116

955,932

20,089

Outstanding at the end of the period (in shares)

2,141,807

646,759

Exercisable at the end of the period (in shares)

594,930

Weighted-Average Exercise Price

Outstanding at the beginning of period (in dollars per share)

$9.49

Granted (in dollars per share)

$9.49

Outstanding at the end of the period (in dollars per share)

$7.05

$9.49

Exercisable at the end of the period (in dollars per share)

$6.33

Assumptions used in fair value of each stock option to purchase common stock using the Black-Scholes option pricing model

Expected term

'5 years 9 months 18 days

'10 years

'6 years 3 months

Risk free interest rate (as a percent)

1.94%

Risk free interest rate, minimum (as a percent)

1.90%

Risk free interest rate, maximum (as a percent)

2.90%

Volatility (as a percent)

113.00%

Volatility, minimum (as a percent)

102.00%

Volatility, maximum (as a percent)

107.00%

Dividend yield (as a percent)

0.00%

Fair value of common stock on grant date (in dollars per share)

Additional disclosure

Stock-based compensation expense (in dollars)

$300,000

$600,000

$2,800,000

$800,000

$100,000

Number of agreements

Aggregate salaries

655,000

425,000

Annual bonus target, as percentage of annual salaries

50.00%

One-time bonus

175,000

250,000

Period allowed to pay bonus following closing of an IPO

'7 days

Period of notice for termination of agreement

'6 months

Percentage of fully diluted shares for which holders have options to purchase aggregate number of common shares

2.20%

5.00%

Vesting period

'4 years

Vesting percentage

100.00%

Weighted average fair value of stock options granted (in dollars per share)

$5.11

Total unrecognized compensation costs related to non-vested awards (in dollars)

8,000,000

Period over which unrecognized compensation costs related to non-vested awards is expected to be recognized

'3 years 3 months 18 days

Weighted average contractual term of the options outstanding

'9 years 10 months 24 days

Intrinsic value of outstanding stock options (in dollars)

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Dec. 31, 2013
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Federal	New jersey
INCOME TAXES	'	'	'	'	'	'
Provision for income taxes	$0	$0	$0	$0	'	'
Net operating losses	'	'	'	'	'	'
Net operating losses	'	'	'	'	$16,000,000	$11,000,000

INCOME_TAXES_Details_2

INCOME TAXES (Details 2) (Federal research and development, USD $)	Dec. 31, 2013
In Millions, unless otherwise specified	Dec. 31, 2013
Federal research and development	'
Credits	'
Credits	$0.20

COMMITMENTS_Details

COMMITMENTS (Details)	0 Months Ended			1 Months Ended	6 Months Ended		1 Months Ended
	1-May-14	1-May-14	Dec. 20, 2013	Nov. 30, 2013	Jun. 30, 2014	Dec. 20, 2013	Nov. 30, 2013	Feb. 11, 2014	Feb. 11, 2014
	Employment contract	Employment contract	Employment contract	Employment contract	Employment contract	Employment contract	Employment contract	Agreement with Quotient Ltd	Agreement with Quotient Ltd
	USD ($)	Maximum	CEO	CEO	CEO	CEO	CEO	USD ($)	EUR (€)
				USD ($)	USD ($)	USD ($)	Maximum
Commitments	'	'	'	'	'	'	'	'	'
Base salary	$655,000	'	'	$425,000	'	'	'	'	'
Percentage of bonus on base salary	'	50.00%	'	'	'	'	50.00%	'	'
Special bonus	175,000	'	'	250,000	'	'	'	'	'
Percentage of outstanding common stock for which option is granted	'	'	5.00%	'	'	'	'	'	'
Number of shares for which option to purchase is granted	'	'	540,722	'	498,621	'	'	'	'
Share fair value (in dollars per share)	'	'	'	'	'	$9.49	'	'	'
Vesting period	'4 years	'	'4 years	'	'	'	'	'	'
Exercise price of options granted (in dollars per share)	'	'	'	'	$6	'	'	'	'
Percentage of fully diluted outstanding common stock for which option is granted	2.20%	'	5.00%	'	'	'	'	'	'
Total cost of the project	'	'	'	'	'	'	'	$2,200,000	€ 1,600,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
RELATED PARTY TRANSACTIONS (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Related party transactions	'	'	'	'	'
Accrued interest payable	$114,429	'	$114,429	'	$24,276
Investor	'	'	'	'	'
Related party transactions	'	'	'	'	'
Accounting and other services expenses per year	'	'	'	'	60,000
Related party expenses	15,000	15,000	35,000	30,000	'
Investor \| Sonkei	'	'	'	'	'
Related party transactions	'	'	'	'	'
Accounting and other services expenses per year	'	'	'	'	60,000
Certain stockholders	'	'	'	'	'
Related party transactions	'	'	'	'	'
Related party expenses	200,000	100,000	300,000	200,000	'
Accrued interest payable	100,000	'	100,000	'	'
Interest expense	'	'	$2,000,000	$0	'

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details)

6 Months Ended

12 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

1-May-14

Jun. 30, 2014

Nov. 06, 2013

Jun. 30, 2014

Nov. 12, 2013

Jul. 31, 2014

Jul. 07, 2014

Jul. 31, 2014

Jul. 07, 2014

Jul. 29, 2014

USD ($)

Stock Option

Employment contract

Convertible promissory notes

Subsequent event

USD ($)

Sonkei

Employment contract

Loans payable

Convertible promissory notes

Co-development licensor

IPO

Private placement

Over-allotment

USD ($)

EUR (€)

USD ($)

EUR (€)

Stock Option

USD ($)

Common stock purchase agreement

Co-development and license agreement

USD ($)

ProteoSys

USD ($)

MIN-202

USD ($)

Subsequent events

Sale of common stock (in shares)

3,284,353

5,454,545

666,666

160,993

Share price (in dollars per share)

Aggregate proceeds from sale of common stock

$32,700,000

$4,000,000

Net proceeds from sale of common stock

1,850,000

19,700,000

25,200,000

3,700,000

900,000

Underwriting discount

2,300,000

300,000

100,000

Stock issuance expenses

105,417

3,100,000

Repayment of the bridge loans

500,000

1,400,000

Payments of License Fees

22,000,000

700,000

Interest rate (as a percent)

8.00%

Face amount

1,300,000

700,000

518,519

680,000

518,519

Accrued interest

$114,429

$24,276

$67,000

$35,000

$100,000

Common stock issued upon conversion (in shares)

352,000

Number of common shares to be issued for options granted

1,495,048

646,759

366,562

Exercise price of options granted (in dollars per share)

$5.11

Vesting period

'4 years