Minerva Neurosciences (NERV) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document Entity Information [Abstract]
Entity Registrant Name	Minerva Neurosciences, Inc.
Entity Central Index Key	1,598,646
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		24,721,143
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 21,735,546	$ 18,545,702
Marketable securities - current portion	13,650,886
Restricted cash	80,000	35,014
Prepaid expenses and other current assets	308,976	756,979
Total current assets	35,775,408	19,337,695
Marketable securities - noncurrent	9,443,843
Equipment, net	34,809	43,446
In-process research and development	34,200,000	34,200,000
Goodwill	14,869,399	14,869,399
Total assets	94,323,459	68,450,540
Current liabilities
Notes payable - current portion	1,087,420
Accounts payable	564,289	641,813
Accrued expenses and other current liabilities	1,082,535	1,645,258
Accrued collaborative expenses	1,078,215	1,222,420
Total current liabilities	3,812,459	3,509,491
Notes payable - noncurrent	8,696,799
Deferred taxes	13,433,760	13,433,760
Other noncurrent liabilities	2,565	7,694
Total liabilities	$ 25,945,583	$ 16,950,945
Commitments and contingencies
Stockholders’ equity
Preferred stock; $0.0001 par value; 100,000,000 shares authorized; none issued or outstanding as of June 30, 2015 and December 31, 2014, respectively
Common stock; $0.0001 par value; 125,000,000 shares authorized; 24,721,143 and 18,439,482 shares issued and outstanding as of June 30, 2015 and December 31, 2014, respectively	$ 2,472	$ 1,844
Additional paid-in capital	155,810,015	126,228,981
Accumulated deficit	(87,434,611)	(74,731,230)
Total stockholders’ equity	68,377,876	51,499,595
Total liabilities and stockholders’ equity	$ 94,323,459	$ 68,450,540

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	24,721,143	18,439,482
Common stock, shares outstanding	24,721,143	18,439,482

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Expenses
Research and development	$ 4,484,688	$ 14,554,662	$ 8,445,893	$ 15,140,598
General and administrative	1,847,636	3,095,173	3,764,929	5,132,565
Total expenses	6,332,324	17,649,835	12,210,822	20,273,163
Loss from operations	(6,332,324)	(17,649,835)	(12,210,822)	(20,273,163)
Foreign exchange (losses) gains	(29,112)	10,549	(13,152)	3,987
Interest (expense)	(248,698)	(1,726,376)	(479,407)	(2,034,904)
Net loss	$ (6,610,134)	$ (19,365,662)	$ (12,703,381)	$ (22,304,080)
Net loss per share, basic and diluted	$ (0.27)	$ (2.55)	$ (0.58)	$ (3.07)
Weighted average shares outstanding, basic and diluted	24,721,143	7,604,503	22,083,539	7,255,648

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($)	Total	Common Stock	Common StockPrivate Placement	Additional Paid In Capital	Accumulated Deficit
Balance at Dec. 31, 2014	$ 51,499,595	$ 1,844		$ 126,228,981	$ (74,731,230)
Balance (in shares) at Dec. 31, 2014	18,439,482	18,439,482
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984	$ 28,533,015	$ 628		28,532,387
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,473,189 (in shares)			6,281,661
Issuance of warrant pursuant to loan agreement	166,344			166,344
Stock-based compensation	882,303			882,303
Net loss	(12,703,381)				(12,703,381)
Balances at Jun. 30, 2015	$ 68,377,876	$ 2,472		$ 155,810,015	$ (87,434,611)
Balance (in shares) at Jun. 30, 2015	24,721,143	24,721,143

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (Unaudited)	6 Months Ended
	Jun. 30, 2015USD ($)
Statement Of Stockholders Equity [Abstract]
Issuance cost	$ 2,466,984

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (12,703,381)	$ (22,304,080)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	8,637	4,271
Amortization of debt discount recorded as interest expense	146,219	1,949,248
Amortization of marketable securities premium recorded as interest expense	67,848
Stock-based compensation expense	882,303	14,816,940
Change in fair value of derivative		(10,093)
Changes in operating assets and liabilities
Prepaid expenses and other current assets	448,003	10,565
Accounts payable	(77,524)	1,229,363
Accrued expenses and other current liabilities	(562,723)	520,209
Other Accrued Liabilities, collaborative expenses	(144,205)
Other noncurrent liabilities	(5,129)
Net cash used in operating activities	(11,939,952)	(3,783,577)
Cash flows from investing activities:
Purchases of marketable securities	(23,162,577)
Cash acquired in business combination		1,167,869
Restricted cash	(44,986)
Net cash (used in) provided by investing activities	(23,207,563)	1,167,869
Cash flows from financing activities:
Proceeds from loans	10,000,000	1,882,817
Repayments of loans		(500,000)
Costs paid in connection with loans	(195,656)
Proceeds from sales of common stock and warrants in private placement	30,999,999
Costs paid in connection with private placement	(2,466,984)
Public offering costs paid		(105,417)
Net cash provided by financing activities	38,337,359	1,277,400
Net increase in cash and cash equivalents	3,189,844	(1,338,308)
Cash and cash equivalents
Beginning of period	18,545,702	1,818,317
End of period	21,735,546	480,009
Cash paid for interest	$ 264,375
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		5,970,560
Less assets acquired:
Prepaid expenses		42,926
Equipment		28,204
In-process research and development		15,200,000
Goodwill		7,076,412
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 Liquid

Nature of Operations and Liquidity	6 Months Ended
	Jun. 30, 2015
Nature Of Operations And Liquidity Disclosure [Abstract]
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. On November 12, 2013, Sonkei Pharmaceuticals, Inc. (“Sonkei”), a 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. The Company is a clinical-stage biopharmaceutical company focused on the development and commercialization of a portfolio of product candidates to treat central nervous system (“CNS”) diseases. On February 11, 2014, the Company acquired Mind-NRG (discussed further in Note 3 — Business Acquisition). 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, Janssen Pharmaceutica N.V. (“Janssen”), 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 became effective on July 7, 2014 at the closing of the IPO and the payment of the $22.0 million license fee was made at that date. 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, 2015, the Company has an accumulated deficit of approximately $87.4 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. In January 2015, the Company entered into a loan and security agreement and drew down on $10.0 million in term loans. In March 2015, the Company closed the sale of 6,281,661 shares of common stock and warrants to purchase an equal number of shares of common stock in a private placement resulting in net proceeds to the Company of $28.5 million after deducting placement fees and issuance costs. The Company believes that based on its operating plan, cash on hand at June 30, 2015 and the proceeds from the term loans and the private placement in March 2015 will be sufficient to fund the Company’s operations into the fourth quarter of 2016. 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 condensed 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 condensed 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 Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim reporting and the requirements of the Securities and Exchange Commission (“SEC”) in accordance with Regulation S-X, Rule 10-01. Under those rules, certain footnotes and financial information that are normally required for annual financial statements can be condensed or omitted. In the opinion of the Company’s management, the accompanying 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, 2015 and the results of operations for the three and six months ended June 30, 2015 and 2014 and cash flows for the six months ended June 30, 2015 and 2014. The results of operations for the three and six months ended June 30, 2015, 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 consolidated balance sheet as of December 31, 2014 was derived from the audited annual 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, 2014 and 2013 included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 filed with the SEC on March 26, 2015. Consolidation The accompanying consolidated financial statements include the results of the Company and its wholly-owned subsidiaries, Mind-NRG SA and Minerva Neurosciences Securities Corporation. 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 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 financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash equivalents include short-term, highly-liquid instruments, consisting of money market accounts and short-term investments with original maturities of less than 90 days. The majority of cash and cash equivalents are maintained with major financial institutions in North America. Deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, these deposits may be redeemed upon demand and, therefore, bear minimal risk. Marketable Securities Marketable securities consists of corporate debt securities maturing in fifteen months or less. Based on the Company’s intentions regarding its marketable securities, all marketable securities are classified as held-to-maturity and are carried under the amortized cost approach. As of June 30, 2015, remaining maturities of marketable securities ranged from November 2015 to September 2016, with a weighted average remaining maturity of approximately 10 months. The following table provides the amortized cost basis, aggregate fair value, unrealized losses (there were no unrealized gains) and the net carrying value of investments in held-to-maturity securities as of June 30, 2015: June 30, 2015 Amortized Aggregate Unrealized Net Carrying Cost Fair Value Losses Value (in thousands) Marketable securities: Corporate bonds - current $ 13,651 $ 13,632 $ 19 $ 13,651 Corporate bonds - noncurrent 9,444 9,413 31 9,444 Marketable securities $ 23,095 $ 23,045 $ 50 $ 23,095 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 employee salaries and benefits, fees paid to consultants and various entities that perform certain research and testing on behalf of the Company. We determine our expenses related to clinical studies based on our estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and contract research organizations that conduct and manage clinical studies on our behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract and may result in uneven payment flows. Payments under some of these contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing service fees, we estimate the time period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from our estimate, we adjust the accrual accordingly. The expenses for some trials may be recognized on a straight-line basis if the expected costs are expected to be incurred ratably during the period. 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 condensed consolidated financial statements as prepaid or accrued expenses. In July 2014, the Company paid a $22.0 million license fee, which has been included as a component of research and development expense since the licensed rights were not deemed to have an alternative future use. The Company accounts for the co-development and license agreement pursuant to which the license fee was paid as a joint risk-sharing collaboration in accordance with ASC 808, Collaboration Arrangements 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, when 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. There was no impairment of IPR&D for the three and six months ended June 30, 2015 and 2014. Stock-based compensation The Company recognizes compensation cost relating to stock-based payment transactions in operating results using a fair-value measurement method, in accordance with ASC Topic 718 Compensation-Stock Compensation Grants to non-employees are accounted for in accordance with ASC Topic 505-50 Equity — Based Payments to Non-Employees 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. During the periods when the Company earns net income, diluted loss per share would reflect 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. The Company had a net loss in all periods presented thus the inclusion of stock options and warrants would be anti-dilutive to net loss per share. Business combinations For business combinations the Company utilizes the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations 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 tests its goodwill for impairment annually at November 30 and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. There was no impairment of goodwill for the three and six months ended June 30, 2015 and 2014. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) and are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued but not yet adopted accounting pronouncements will not have a material impact on the condensed consolidated financial position, condensed consolidated results of operations, and condensed consolidated cash flows, or do not apply to the Company. In April 2015, the FASB issued ASU 2015-03, which simplifies the presentation of debt issuance costs. The Company has elected early adoption of this guidance and recorded its debt issuance costs associated with the Term Loans as a direct reduction to the face amount of the loans.

Business Acquisition

Business Acquisition	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Acquisition	NOTE 3 — BUSINESS ACQUISITION 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 consisted of 1,481,583 shares of the Company’s common stock 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 that underpins Mind-NRG’s lead product candidate, 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. 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 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, including 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 was allocated to assets acquired and liabilities assumed based on estimated fair values as follows: Cash $ 1,167,869 Other assets 71,130 Goodwill 7,076,412 In-process research and development 15,200,000 Deferred tax liability (5,970,560 ) Accrued expenses (321,417 ) ProteoSys milestone payable (681,600 ) $ 16,541,834 IPR&D, an indefinite-lived asset, has been 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. In 2014, the Company corrected the deferred tax rate used to record a deferred tax liability at acquisition date by recording at $0.1 million reduction in deferred tax liability with a corresponding increase to goodwill.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2015
Payables And Accruals [Abstract]
Accrued Expenses	NOTE 4 — ACCRUED EXPENSES Accrued expenses and other liabilities consist of the following: June 30, 2015 December 31, 2014 Accrued bonus $ 300,000 $ 327,960 Research and development costs and other accrued expenses 349,582 422,821 Accrued severance 212,500 636,033 Professional fees - 54,350 Primomed research funding (1) 107,491 127,209 Interest payable 58,750 - Accrued excise and franchise taxes - 76,885 Vacation pay 54,212 - $ 1,082,535 $ 1,645,258 (1) 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 St

Net Loss Per Share of Common Stock	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
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 issuances 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, 2015 2014 2015 2014 Net loss $ (6,610,134 ) $ (19,365,662 ) $ (12,703,381 ) $ (22,304,080 ) Weighted average shares of common stock outstanding 24,721,143 7,604,503 22,083,539 7,255,648 Net loss per share of common stock – basic and diluted $ (0.27 ) $ (2.55 ) $ (0.58 ) $ (3.07 ) The following securities outstanding at June 30, 2015 and 2014 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, 2015 2014 Common stock options 2,905,336 2,141,807 Warrants 6,322,451 -

License Agreements

License Agreements	6 Months Ended
	Jun. 30, 2015
License Agreement Disclosure [Abstract]
License Agreements	NOTE 6 — LICENSE AGREEMENTS The Company has entered into a license agreement with Mitsubishi Tanabe Pharma Corporation (“MTPC”) dated as of August 30, 2007, as amended (the “License Agreement”). Under the terms of the License Agreement, the Company acquired an exclusive license to the compound known as CYR-101 (subsequently renamed MIN-101) and other compounds with a similar structure and intended purpose and other data included within the valid claims of certain patents licensed to the Company under the License Agreement. The license is for world-wide rights, excluding certain Asian countries such as China, Japan, India and South Korea. The Company will pay a tiered royalty for net sales of product by it or any of its affiliates or sub-licensees containing the licensed compound equal to a percentage ranging from the high single digits to the low teens depending on net sales of products under the License Agreement. The initial $1.0 million licensing fee paid in 2007 was expensed as research and development expense, as was an additional payment of $0.5 million in 2008 upon the onset of a Phase IIa study. The Company made a $0.5 million extension payment in 2010 which was expensed as part of research and development expense. The Company was also required to make milestone payments upon the achievement of certain development and commercial milestones, potentially up to $57.5 million for MIN-101 and up to $59.5 million for additional products. 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. In connection with the merger of Sonkei in November 2013, the Company has a second license agreement with MTPC dated September 1, 2008, as amended. Under the terms of the agreement, the Company has an exclusive license to the compound known as SON-117 (subsequently renamed MIN-117) and other data included within the valid claims of certain patents licensed to the Company under the agreement. The license is for world-wide rights other than certain countries in Asia, including China, Japan, India and South Korea. Under the agreement, the Company will pay a tiered royalty for net sales of product by it or any of its affiliates or sub-licensees containing the licensed compound ranging from the high single digits to the low teens depending on net sales of products. Through the date of the agreement, as amended, the Company was required to make payments up to $57.5 million upon the achievement of certain commercial milestones. In January 2014, the Company renegotiated the structure of the license for MIN-117 such that the Company is required to make 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 was required to initiate by the end of April 2015 a Phase IIa or Phase IIb study with MIN-117 in patients suffering major mood disorders where initiation is defined as first patient enrolled in the study. In April 2015, the Company amended the diligence milestone obligation under the license agreement for MIN-117 to extend the deadline to begin enrollment in a Phase IIa or Phase IIb study with MIN-117 in patients suffering major mood disorders from April 30, 2015 to June 30, 2015. As consideration for the two-month extension, the Company paid MTPC and expensed $80,000 in May 2015. The Company met the enrollment milestone obligation in June 2015. The Company did not make any other license payments under the agreements for the six months ended June 30, 2015 or 2014.

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	NOTE 7 — DEBT Loan and Security Agreement On January 16, 2015, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with Oxford Finance LLC (“Oxford”) and Silicon Valley Bank (“SVB” and, together with Oxford, the “Lenders”), providing for term loans to the Company in an aggregate principal amount of up to $15 million, in two tranches. The Company drew down the initial term loans in the aggregate principal amount of $10 million (the “Term A Loans”), on January 16, 2015. The Term A Loans bear interest at a fixed rate of 7.05% per annum. On or prior to March 31, 2016, the Company may borrow additional term loans or Term B Loans, together with the Term A Loans, (the “Term Loans”), in the aggregate principal amount up to $5 million, subject to the satisfaction of certain borrowing conditions, including its achievement of primary endpoints on its Phase IIa trials for its MIN-117 and MIN-202 programs. The Term B Loans will bear interest at a fixed rate per annum of the greater of (i) 7.05% or (ii) the sum of (a) the prime rate reported in The Wall Street Journal three (3) business days prior to the funding date of the Term B Loans, plus (b) 3.80%. The Company paid a facility fee of $75,000 for access to the Term Loans and will be required to pay a final payment of 4.45% (or, if the interest-only period is extended as described below, 5.10%) of the total amount borrowed, which has been included as a component of the debt discount and is amortized to interest expense over the term of the loans. The Term A Loans and debt discount are as follows: June 30, 2015 Term A Loans $ 10,000,000 Less: debt discount and financing costs (215,781 ) Less: current portion (1,087,420 ) Long-term portion $ 8,696,799 For the three and six months ended June 30, 2015, the Company recognized interest expense of $0.3 million and $0.5 million, respectively, related to the Term A Loans, including $0.1 million and $0.1 million, respectively, related to the debt discount. Through February 1, 2016, the Company is obligated only to make monthly interest payments on the outstanding principal balance on the Term A Loans, followed by 30 months of equal principal and interest payments. If the Company raises at least $30.0 million in capital (including at least $20.0 million from the sale of equity securities) and completes the first dosing of its Phase I/II clinical trial for MIN-117 prior to December 31, 2015, the interest-only period will be extended an additional six months and the repayment period will be reduced by six months. The Term Loans mature on August 1, 2018. The Company may prepay all, but not less than all, of the loaned amount upon 30 days’ advance notice to the Lenders, provided that the Company will be obligated to pay a prepayment fee equal to (i) 3% of the outstanding balance, if the loan is prepaid within 24 months of the funding date, (ii) 2% of the outstanding balance, if the loan is prepaid between 24 and 36 months of the funding date and (iii) 1% of the outstanding balance, if the loan is prepaid thereafter (each, a “Prepayment Fee”). 2015 $ - 2016 3,140,089 2017 4,019,155 2018 2,840,756 Total Term A Loans $ 10,000,000 The Company’s obligations under the Loan Agreement are secured by a first priority security interest in substantially all of its assets, other than its intellectual property. The Company has also agreed not to pledge or otherwise encumber its intellectual property assets, except that it may grant certain exclusive and non-exclusive licenses of its intellectual property as set forth in the Loan Agreement. In addition, the Company pledged all of its equity interests in Minerva Neurosciences Securities Corporation and 65% of its equity interests in Mind-NRG, SA as security for its obligations under the Loan Agreement. Upon the occurrence of certain events, including but not limited to the Company’s failure to satisfy its payment obligations under the Loan Agreement, the breach of certain of its other covenants under the Loan Agreement, or the occurrence of a material adverse change, the Lenders will have the right, among other remedies, to declare all principal and interest immediately due and payable, and will have the right to receive the final payment fee and, if the payment of principal and interest is due prior to maturity, the applicable Prepayment Fee. Under the Loan Agreement, the Company agreed to issue the Lenders warrants to purchase shares of its common stock upon its draw of each tranche of the Term Loans. The aggregate number of shares of common stock issuable upon exercise of the warrants is equal to 2.25% of the amount drawn of such tranche, divided by the average closing price per share of the Company’s common stock reported on the NASDAQ Global Market for the 10 consecutive trading days prior to the applicable draw. On January 16, 2015, upon the draw of the Term A Loans, the Company issued to the Lenders warrants to purchase 40,790 shares of common stock at a per share exercise price of $5.516. The warrants were immediately exercisable upon issuance, and other than in connection with certain mergers or acquisitions, will expire on the ten-year anniversary of the date of issuance. The fair value of the warrants was estimated at $0.2 million using a Black-Scholes model and assuming: (i) expected volatility of 100.8%, (ii) risk free interest rate of 1.83%, (iii) an expected life of 10 years and (iv) no dividend payments. The fair value of the warrants was included as a discount to the Term A Loans and also as a component of additional paid-in capital at June 30, 2015

Co-Development and License Agre

Co-Development and License Agreement	6 Months Ended
	Jun. 30, 2015
Co Development And License Agreement Disclosure [Abstract]
Co-Development and License Agreement	NOTE 8 — CO-DEVELOPMENT AND LICENSE AGREEMENT On February 12, 2014, the Company signed a co-development and license agreement with Janssen and Janssen Research & Development, LLC (“JJDC”), subject to the completion of an IPO and the payment of a $22.0 million license fee. Under the agreement, 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 (i) 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 and (ii) 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 on July 7, 2014, the Company made a license fee payment of $22.0 million, which was included as a component of research and development expense in 2014. The Company will pay a quarterly royalty percentage in the high single digits on 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 percentage to the Company in the high single digits on aggregate net sales for MIN-202 products sold by the licensor outside the European Union. The Company included the $22.0 million license fee payment as a component of research and development expense since the licensed rights were not deemed to have an alternative future use. The Company accounts for the co-development and license agreement as a joint risk-sharing collaboration in accordance with ASC 808, Collaboration Arrangements 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, 2015
Stockholders Equity Note [Abstract]
Stockholders' Equity	NOTE 9 — STOCKHOLDERS’ EQUITY Private Placement of Common Stock and Warrants On March 18, 2015, pursuant to a securities purchase agreement with certain accredited investors dated March 13, 2015, the Company sold in a private placement 6,281,661 shares of the Company’s common stock at a price per share of $4.81 and warrants to purchase up to an aggregate of 6,281,661 shares of common stock at a purchase price of $0.125 per warrant share, with an initial exercise price of $5.772 per share, resulting in gross proceeds of approximately $31.0 million. The warrants will expire on March 18, 2017, two years after the date on which they were initially issued In connection with the private placement, the Company also entered into a registration rights agreement (the “Registration Rights Agreement”), dated March 13, 2015 with certain accredited investors. Pursuant to the terms of the Registration Rights Agreement, the Company was obligated to prepare and file with the SEC a registration statement to register for resale the 6,281,661 shares of its common stock issued in the private placement and the 6,281,661 shares of its common stock issuable upon exercise of the warrants on or prior to May 2, 2015. The Company filed a resale registration statement on Form S-1 the SEC on April 30, 2015. The Company filed a post-effective amendment to the Form S-1 to convert the filing to a Form S-3 on July 2, 2015. If registration statements are not maintained effective, the Company could be subject to penalties of up to of proceeds received in the private placement. Term Loan Warrants In connection with the Loan Agreement, the Company issued the Lenders warrants to purchase shares of its common stock upon its draw of each tranche of the Term Loans. The aggregate number of shares of common stock issuable upon exercise of the warrants is equal to 2.25% of the amount drawn of such tranche, divided by the average closing price per share of the Company’s common stock reported on the NASDAQ Global Market for the 10 consecutive trading days prior to the applicable draw. Upon the draw of the Term A Loans, the Company issued the Lenders warrants to purchase 40,790 shares of common stock at a per share exercise price of $5.516. The warrants are immediately exercisable upon issuance, and other than in connection with certain mergers or acquisitions, will expire on the ten-year anniversary of the date of issuance. The fair value of the warrants was estimated at $0.2 million using a Black-Scholes model and assuming: (i) expected volatility of 100.8%, (ii) risk free interest rate of 1.83%, (iii) an expected life of 10 years and (iv) no dividend payments. The fair value of the warrants was included as a discount to the Term A Loans and also as a component of additional paid-in capital at June 30, 2015.

Stock Option Plan

Stock Option Plan	6 Months Ended
	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
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 January 1, 2015, in accordance with the terms of the , Weighted-Average Stock Options Exercise Price Outstanding January 1, 2015 2,076,558 $ 6.64 Granted 848,778 $ 5.18 Forfeited (20,000 ) $ 6.26 Outstanding June 30, 2015 2,905,336 $ 6.22 Exercisable June 30, 2015 1,412,527 $ 6.79 Available for future grant 1,375,997 The Company granted 848,778 and 1,495,048 stock options during the six months ended June 30, 2015 and 2014 that had a weighted average exercise price of $5.18 and $6.00, respectively. The Company uses the Black Scholes model to estimate the fair value of stock options granted. For stock options granted during the six months ended June 30, 2015 and 2014, the Company utilized the following assumptions: June 30, 2015 June 30, 2014 Expected term (years) 5.5-6.25 6.25 Risk free interest rate 1.27 - 1.80% 1.94% Volatility 74-110% 113% Dividend yield 0% 0% Weighted average grant date fair value per share of common stock $ 4.21 $ 5.11 The Company recognized stock-based compensation expense for the six months ended June 30, 2015 and 2014 of $0.9 million and $14.8 million, respectively. The weighted average grant-date fair value of stock options outstanding on June 30, 2015 was $5.19 per share. Total unrecognized compensation costs related to non-vested awards at June 30, 2015 was approximately $6.6 million and is expected to be recognized within future operating results over a period of 3.19 years. At June 30, 2015, the weighted average contractual term of the options outstanding is approximately 9.2 years. The intrinsic value of outstanding stock options at June 30, 2015 was $0.5 million. The expected term of the employee-related options was estimated using the “simplified” method as defined by the Securities and Exchange Commission’s Staff Accounting Bulletin No. 107, Share-Based Payment

Commitments

Commitments	6 Months Ended
	Jun. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments	NOTE 11 — COMMITMENTS In September 2014, the Company entered into a lease agreement for 4,043 square feet of office space in Waltham, MA. The term of the lease is approximately 2 years, and the Company is required to make monthly rental payments commencing December 2014. Estimated annual rent payable under this operating lease is approximately $0.1 million per year in each of the two years.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 12 — RELATED PARTY TRANSACTIONS An investor previously provided accounting and other services to the Company during 2014. For the three and six months ended June 30, 2014, the expense recognized in operating results in connection with these services was $15,000 and $35,000, respectively. The Company retained the services of certain consultants who were also stockholders of the Company during 2014. For the three and six months ended June 30, 2014, the expense recognized by the Company in connection with these consulting services was $0.2 million and $0.3 million, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	NOTE 13 — SUBSEQUENT EVENTS Stock Option Grants On July 1, 2015, in accordance with the terms of the Plan , the Company granted 200,000 options to purchase common stock to two new employees with a vesting term of four years.

Significant Accounting Polici21

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim reporting and the requirements of the Securities and Exchange Commission (“SEC”) in accordance with Regulation S-X, Rule 10-01. Under those rules, certain footnotes and financial information that are normally required for annual financial statements can be condensed or omitted. In the opinion of the Company’s management, the accompanying 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, 2015 and the results of operations for the three and six months ended June 30, 2015 and 2014 and cash flows for the six months ended June 30, 2015 and 2014. The results of operations for the three and six months ended June 30, 2015, 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 consolidated balance sheet as of December 31, 2014 was derived from the audited annual 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, 2014 and 2013 included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 filed with the SEC on March 26, 2015.
Consolidation	Consolidation The accompanying consolidated financial statements include the results of the Company and its wholly-owned subsidiaries, Mind-NRG SA and Minerva Neurosciences Securities Corporation. 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 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 financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents include short-term, highly-liquid instruments, consisting of money market accounts and short-term investments with original maturities of less than 90 days. The majority of cash and cash equivalents are maintained with major financial institutions in North America. Deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, these deposits may be redeemed upon demand and, therefore, bear minimal risk.
Marketable Securities	Marketable Securities Marketable securities consists of corporate debt securities maturing in fifteen months or less. Based on the Company’s intentions regarding its marketable securities, all marketable securities are classified as held-to-maturity and are carried under the amortized cost approach. As of June 30, 2015, remaining maturities of marketable securities ranged from November 2015 to September 2016, with a weighted average remaining maturity of approximately 10 months. The following table provides the amortized cost basis, aggregate fair value, unrealized losses (there were no unrealized gains) and the net carrying value of investments in held-to-maturity securities as of June 30, 2015: June 30, 2015 Amortized Aggregate Unrealized Net Carrying Cost Fair Value Losses Value (in thousands) Marketable securities: Corporate bonds - current $ 13,651 $ 13,632 $ 19 $ 13,651 Corporate bonds - noncurrent 9,444 9,413 31 9,444 Marketable securities $ 23,095 $ 23,045 $ 50 $ 23,095
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 employee salaries and benefits, fees paid to consultants and various entities that perform certain research and testing on behalf of the Company. We determine our expenses related to clinical studies based on our estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and contract research organizations that conduct and manage clinical studies on our behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract and may result in uneven payment flows. Payments under some of these contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing service fees, we estimate the time period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from our estimate, we adjust the accrual accordingly. The expenses for some trials may be recognized on a straight-line basis if the expected costs are expected to be incurred ratably during the period. 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 condensed consolidated financial statements as prepaid or accrued expenses. In July 2014, the Company paid a $22.0 million license fee, which has been included as a component of research and development expense since the licensed rights were not deemed to have an alternative future use. The Company accounts for the co-development and license agreement pursuant to which the license fee was paid as a joint risk-sharing collaboration in accordance with ASC 808, Collaboration Arrangements 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, when 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. There was no impairment of IPR&D for the three and six months ended June 30, 2015 and 2014.
Stock-Based Compensation	Stock-based compensation The Company recognizes compensation cost relating to stock-based payment transactions in operating results using a fair-value measurement method, in accordance with ASC Topic 718 Compensation-Stock Compensation Grants to non-employees are accounted for in accordance with ASC Topic 505-50 Equity — Based Payments to Non-Employees
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. During the periods when the Company earns net income, diluted loss per share would reflect 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. The Company had a net loss in all periods presented thus the inclusion of stock options and warrants would be anti-dilutive to net loss per share.
Business Combinations	Business combinations For business combinations the Company utilizes the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations
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 tests its goodwill for impairment annually at November 30 and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. There was no impairment of goodwill for the three and six months ended June 30, 2015 and 2014.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) and are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued but not yet adopted accounting pronouncements will not have a material impact on the condensed consolidated financial position, condensed consolidated results of operations, and condensed consolidated cash flows, or do not apply to the Company. In April 2015, the FASB issued ASU 2015-03, which simplifies the presentation of debt issuance costs. The Company has elected early adoption of this guidance and recorded its debt issuance costs associated with the Term Loans as a direct reduction to the face amount of the loans.

Significant Accounting Polici22

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Amortized Cost Basis, Aggregate Fair Value, Unrealized Losses and Net Carrying Value of Investments in Held-to-Maturity Securities	The following table provides the amortized cost basis, aggregate fair value, unrealized losses (there were no unrealized gains) and the net carrying value of investments in held-to-maturity securities as of June 30, 2015: June 30, 2015 Amortized Aggregate Unrealized Net Carrying Cost Fair Value Losses Value (in thousands) Marketable securities: Corporate bonds - current $ 13,651 $ 13,632 $ 19 $ 13,651 Corporate bonds - noncurrent 9,444 9,413 31 9,444 Marketable securities $ 23,095 $ 23,045 $ 50 $ 23,095

Business Acquisition (Tables)

Business Acquisition (Tables)	6 Months Ended
	Jun. 30, 2015
Mind-NRG
Business Acquisition [Line Items]
Aggregate Consideration Allocated to Assets Acquired and Liabilities Assumed Based On Estimated Fair Value	The aggregate consideration of $16.5 million was allocated to assets acquired and liabilities assumed based on estimated fair values as follows: Cash $ 1,167,869 Other assets 71,130 Goodwill 7,076,412 In-process research and development 15,200,000 Deferred tax liability (5,970,560 ) Accrued expenses (321,417 ) ProteoSys milestone payable (681,600 ) $ 16,541,834

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2015
Payables And Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: June 30, 2015 December 31, 2014 Accrued bonus $ 300,000 $ 327,960 Research and development costs and other accrued expenses 349,582 422,821 Accrued severance 212,500 636,033 Professional fees - 54,350 Primomed research funding (1) 107,491 127,209 Interest payable 58,750 - Accrued excise and franchise taxes - 76,885 Vacation pay 54,212 - $ 1,082,535 $ 1,645,258 (1) 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 25

Net Loss Per Share of Common Stock (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Loss Per Share	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, 2015 2014 2015 2014 Net loss $ (6,610,134 ) $ (19,365,662 ) $ (12,703,381 ) $ (22,304,080 ) Weighted average shares of common stock outstanding 24,721,143 7,604,503 22,083,539 7,255,648 Net loss per share of common stock – basic and diluted $ (0.27 ) $ (2.55 ) $ (0.58 ) $ (3.07 )
Securities Excluded from Calculation of Weighted Average Shares Outstanding as their Effect is Antidilutive	The following securities outstanding at June 30, 2015 and 2014 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, 2015 2014 Common stock options 2,905,336 2,141,807 Warrants 6,322,451 -

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Summary of Term A Loans and Debt Discount	The Term A Loans and debt discount are as follows:
Expected Repayment of Term A Loan Principal	The expected repayment of the $10.0 million Term A loan principal is as follows: 2015 $ - 2016 3,140,089 2017 4,019,155 2018 2,840,756 Total Term A Loans $ 10,000,000

Stock Option Plan (Tables)

Stock Option Plan (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock Option Activity	Stock option activity under the Plan is as follows: Weighted-Average Stock Options Exercise Price Outstanding January 1, 2015 2,076,558 $ 6.64 Granted 848,778 $ 5.18 Forfeited (20,000 ) $ 6.26 Outstanding June 30, 2015 2,905,336 $ 6.22 Exercisable June 30, 2015 1,412,527 $ 6.79 Available for future grant 1,375,997
Summary of Assumptions Used in Black Scholes Model to Estimate Fair Value of Stock Options	The Company uses the Black Scholes model to estimate the fair value of stock options granted. For stock options granted during the six months ended June 30, 2015 and 2014, the Company utilized the following assumptions: June 30, 2015 June 30, 2014 Expected term (years) 5.5-6.25 6.25 Risk free interest rate 1.27 - 1.80% 1.94% Volatility 74-110% 113% Dividend yield 0% 0% Weighted average grant date fair value per share of common stock $ 4.21 $ 5.11

NATURE OF OPERATIONS AND LIQU28

NATURE OF OPERATIONS AND LIQUIDITY - Additional Information (Details) - USD ($)	Mar. 18, 2015	Jul. 07, 2014	Jan. 31, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Feb. 11, 2014
Nature Of Operations And Liquidity [Line Items]
Payment of license fee				$ 0	$ 0
Accumulated deficit				(87,434,611)		$ (74,731,230)
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984				28,533,015
Loan and Security Agreement | Term Loan
Nature Of Operations And Liquidity [Line Items]
Amount drew dawn during period			$ 10,000,000
Private Placement
Nature Of Operations And Liquidity [Line Items]
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984	$ 28,500,000
Common Stock
Nature Of Operations And Liquidity [Line Items]
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984				$ 628
Common Stock | Private Placement
Nature Of Operations And Liquidity [Line Items]
Shares of common stock issued	6,281,661			6,281,661
Shares of common stock to purchase by warrant	6,281,661
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984	$ 28,500,000
Janssen and JJDC | Co-development and License Agreement | MIN-202
Nature Of Operations And Liquidity [Line Items]
Payment of license fee		$ 22,000,000
Mind-NRG
Nature Of Operations And Liquidity [Line Items]
Share capital acquired (as a percent)							100.00%

SIGNIFICANT ACCOUNTING POLICI29

SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($)	Jul. 07, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Significant Accounting Policies [Line Items]
Marketable securities, weighted average remaining maturity				10 months
Marketable securities, unrealized gains		$ 0		$ 0
Payment of license fee				0	$ 0
Accrued collaborative expenses		1,078,215		1,078,215		$ 1,222,420
Impairment of goodwill		0	$ 0	0	0
In-Process Research and Development
Significant Accounting Policies [Line Items]
Asset impairment charges		0	$ 0	0	$ 0
Janssen and JJDC | Co-development and License Agreement | MIN-202
Significant Accounting Policies [Line Items]
Payment of license fee	$ 22,000,000
Accrued collaborative expenses		$ 1,100,000		$ 1,100,000		$ 1,200,000

SIGNIFICANT ACCOUNTING POLICI30

SIGNIFICANT ACCOUNTING POLICIES - Amortized Cost Basis, Aggregate Fair Value, Unrealized Losses and Net Carrying Value of Investments in Held-to-Maturity Securities (Details) $ in Thousands	Jun. 30, 2015USD ($)
Schedule Of Held To Maturity Securities [Line Items]
Marketable securities, Amortized Cost	$ 23,095
Marketable securities, Aggregate Fair Value	23,045
Marketable securities, Unrealized Losses	50
Marketable securities, Net Carrying Value	23,095
Corporate Bonds - Current
Schedule Of Held To Maturity Securities [Line Items]
Marketable securities, Amortized Cost	13,651
Marketable securities, Aggregate Fair Value	13,632
Marketable securities, Unrealized Losses	19
Marketable securities, Net Carrying Value	13,651
Corporate Bonds - Noncurrent
Schedule Of Held To Maturity Securities [Line Items]
Marketable securities, Amortized Cost	9,444
Marketable securities, Aggregate Fair Value	9,413
Marketable securities, Unrealized Losses	31
Marketable securities, Net Carrying Value	$ 9,444

BUSINESS ACQUISITION - Addition

BUSINESS ACQUISITION - Additional Information (Details) - Mind-NRG - USD ($) $ / shares in Units, $ in Millions	Feb. 11, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Number of shares of common stock	1,481,583
Aggregate consideration	$ 16.5
Estimated fair value (in dollars per share)	$ 11.17
Share capital acquired (as a percent)	100.00%
Decrease in goodwill from reduction in deferred tax liability		$ 0.1

BUSINESS ACQUISITION - Aggregat

BUSINESS ACQUISITION - Aggregate Consideration Allocated to Assets Acquired and Liabilities Assumed Based On Estimated Fair Value (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Feb. 11, 2014
Assets acquired and liabilities assumed based on estimated fair values
Goodwill	$ 14,869,399	$ 14,869,399
Mind-NRG
Assets acquired and liabilities assumed based on estimated fair values
Cash			$ 1,167,869
Other assets			71,130
Goodwill			7,076,412
Deferred tax liability			(5,970,560)
Accrued expenses			(321,417)
Total			16,541,834
Mind-NRG | In-Process Research and Development
Assets acquired and liabilities assumed based on estimated fair values
In-process research and development			15,200,000
Mind-NRG | ProteoSys
Assets acquired and liabilities assumed based on estimated fair values
ProteoSys milestone payable			$ (681,600)

ACCRUED EXPENSES - Accrued Expe

ACCRUED EXPENSES - Accrued Expenses and Other Liabilities (Details) - USD ($)		Jun. 30, 2015	Dec. 31, 2014
Payables And Accruals [Abstract]
Accrued bonus		$ 300,000	$ 327,960
Research and development costs and other accrued expenses		349,582	422,821
Accrued severance		212,500	636,033
Professional fees			54,350
Primomed research funding	[1]	107,491	127,209
Interest payable		58,750
Accrued excise and franchise taxes			76,885
Vacation pay		54,212
Accrued expenses and other liabilities		$ 1,082,535	$ 1,645,258
[1]	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 34

NET LOSS PER SHARE OF COMMON STOCK - Computation of Basic and Diluted Loss Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net loss	$ (6,610,134)	$ (19,365,662)	$ (12,703,381)	$ (22,304,080)
Weighted average shares of common stock outstanding	24,721,143	7,604,503	22,083,539	7,255,648
Net loss per share, basic and diluted	$ (0.27)	$ (2.55)	$ (0.58)	$ (3.07)

NET LOSS PER SHARE OF COMMON 35

NET LOSS PER SHARE OF COMMON STOCK - Securities Excluded from Calculation of Weighted Average Shares Outstanding as their Effect is Antidilutive (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Common Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Securities outstanding excluded from the calculation of weighted average shares outstanding	2,905,336	2,141,807
Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Securities outstanding excluded from the calculation of weighted average shares outstanding	6,322,451

LICENSE AGREEMENTS - Additional

LICENSE AGREEMENTS - Additional Information (Details)	1 Months Ended		4 Months Ended	6 Months Ended		12 Months Ended
	May. 31, 2015USD ($)	Jan. 31, 2014USD ($)item	Dec. 31, 2007USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2010USD ($)	Dec. 31, 2008USD ($)	Sep. 01, 2008USD ($)	Aug. 30, 2007USD ($)
License Agreement
Payment of license fee				$ 0	$ 0
Mitsubishi | License Agreement | MIN-101
License Agreement
Payment of license fee			$ 1,000,000			$ 500,000	$ 500,000
Potential milestone payments upon achievement of milestone		$ 500,000
Number of development milestones required | item		1
Mitsubishi | License Agreement | MIN-101 | Maximum
License Agreement
Potential milestone payments upon achievement of milestone		$ 47,500,000							$ 57,500,000
Mitsubishi | License Agreement | Additional Products | Maximum
License Agreement
Potential milestone payments upon achievement of milestone									$ 59,500,000
Mitsubishi | License Agreement | MIN-117
License Agreement
Extension of milestone payment	$ 80,000
Mitsubishi | License Agreement | MIN-117 | Maximum
License Agreement
Potential milestone payments upon achievement of milestone		$ 47,500,000						$ 57,500,000

DEBT - Additional Information (

DEBT - Additional Information (Details)	Mar. 31, 2016USD ($)	Jan. 16, 2015USD ($)Tranche$ / sharesshares	Jan. 31, 2015USD ($)	Jun. 30, 2015
Debt Instrument [Line Items]
Fair value of warrants estimated		$ 200,000
Warrant
Debt Instrument [Line Items]
Expiration anniversary date of issuance		10 years
Expected stock price volatility (as a percent)		100.80%
Risk-free interest rate (as a percent)		1.83%
Expected life		10 years
Expected dividend | $ / shares		$ 0
Term Loan
Debt Instrument [Line Items]
Aggregate number of shares of Common Stock issuable		2.25%
Consecutive trading days		10 days
Term Loan | Term A Loans
Debt Instrument [Line Items]
Shares of common stock to purchase by warrant | shares		40,790
Common stock exercise price per share | $ / shares		$ 5.516
Loan and Security Agreement
Debt Instrument [Line Items]
Fair value of warrants estimated		$ 200,000
Loan and Security Agreement | Warrant
Debt Instrument [Line Items]
Expiration anniversary date of issuance				10 years
Expected stock price volatility (as a percent)		100.80%
Risk-free interest rate (as a percent)		1.83%
Expected life		10 years
Expected dividend | $ / shares		$ 0
Loan and Security Agreement | Term Loan
Debt Instrument [Line Items]
Aggregate principal amount		$ 15,000,000
Number of tranches | Tranche		2
Amount drew dawn during period			$ 10,000,000
Facility fee payment		$ 75,000
Final payment of term loan		4.45%
Extended interest of term loan		5.10%
Minimum capital requirement		$ 30,000,000
Sale of equity securities		$ 20,000,000
Extended interest period for debt instrument				6 months
Reduced repayment period for debt instrument				6 months
Term loans maturity date				Aug. 1, 2018
Advance notice period to the lenders				30 days
Term loan prepayment fee terms				(i) 3% of the outstanding balance, if the loan is prepaid within 24 months of the funding date, (ii) 2% of the outstanding balance, if the loan is prepaid between 24 and 36 months of the funding date and (iii) 1% of the outstanding balance, if the loan is prepaid thereafter (each, a “Prepayment Fee”).
Aggregate number of shares of Common Stock issuable		2.25%
Consecutive trading days				10 days
Loan and Security Agreement | Term Loan | Mind-NRG, SA
Debt Instrument [Line Items]
Percentage of equity interests				65.00%
Loan and Security Agreement | Term Loan | 24 months
Debt Instrument [Line Items]
Proportion of prepayment fees on outstanding balance				3.00%
Loan and Security Agreement | Term Loan | Between 24 and 36 months
Debt Instrument [Line Items]
Proportion of prepayment fees on outstanding balance				2.00%
Loan and Security Agreement | Term Loan | Prepaid Thereafter
Debt Instrument [Line Items]
Proportion of prepayment fees on outstanding balance				1.00%
Loan and Security Agreement | Term Loan | Term A Loans
Debt Instrument [Line Items]
Amount drew dawn during period		$ 10,000,000
Interest rate (as a percent)		7.05%
Number of installments period				30 months
Shares of common stock to purchase by warrant | shares		40,790
Common stock exercise price per share | $ / shares		$ 5.516
Loan and Security Agreement | Term Loan | Term B Loans
Debt Instrument [Line Items]
Term loan, interest rate term				The Term B Loans will bear interest at a fixed rate per annum of the greater of (i) 7.05% or (ii) the sum of (a) the prime rate reported in The Wall Street Journal three (3) business days prior to the funding date of the Term B Loans, plus (b) 3.80%.
Loan and Security Agreement | Term Loan | Term B Loans | Scenario, Forecast
Debt Instrument [Line Items]
Aggregate principal amount	$ 5,000,000
Minimum percentage of interest rate on loan	7.05%
Percentage of interest rate on loan	3.80%

DEBT - Summary of Term A Loans

DEBT - Summary of Term A Loans and Debt Discount (Details)	Jun. 30, 2015USD ($)
Debt Instrument [Line Items]
Term A Loans	$ 10,000,000
Less: current portion	(1,087,420)
Long-term portion	8,696,799
Term Loan | Term A Loans
Debt Instrument [Line Items]
Term A Loans	10,000,000
Less: debt discount and financing costs	(215,781)
Less: current portion	(1,087,420)
Long-term portion	$ 8,696,799

DEBT - Expected Repayment of Te

DEBT - Expected Repayment of Term A Loan Principal (Details)	Jun. 30, 2015USD ($)
Debt Disclosure [Abstract]
2,015	$ 0
2,016	3,140,089
2,017	4,019,155
2,018	2,840,756
Total Term A Loans	$ 10,000,000

CO-DEVELOPMENT AND LICENSE AG40

CO-DEVELOPMENT AND LICENSE AGREEMENT - Additional Information (Details) - USD ($)	Mar. 18, 2015	Jul. 07, 2014	Feb. 12, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Co-development and license agreement
Payment of license fee				$ 0	$ 0
Accrued collaborative expenses				1,078,215		$ 1,222,420
Proceeds from sales of common stock and warrants in private placement	$ 31,000,000			30,999,999
Common Stock Purchase Agreement
Co-development and license agreement
Shares of common stock issued		3,284,353
Proceeds from sales of common stock and warrants in private placement		$ 19,700,000
Common Stock Purchase Agreement | Maximum
Co-development and license agreement
Common stock agreed to be issued			$ 26,000,000
MIN-202 | Co-development and License Agreement | Phase Ib Clinical Trials | Maximum
Co-development and license agreement
Share of aggregate development cost following completion of Phase Ib clinical trials and animal toxicology studies			5,000,000
MIN-202 | Co-development and License Agreement | Phase II Clinical Trials | Maximum
Co-development and license agreement
Share of aggregate development cost following completion of Phase Ib clinical trials and animal toxicology studies			$ 24,000,000
Janssen and JJDC | MIN-202 | Co-development and License Agreement
Co-development and license agreement
Payment of license fee		$ 22,000,000
Percentage of development costs related to joint development of products			40.00%
Period within which agreement is terminated related to Phase Ib clinical trials milestone			45 days
Termination fee related to Phase Ib clinical trial milestone			$ 3,000,000
Accrued collaborative expenses				1,100,000		$ 1,200,000
Payment of development costs				$ 2,700,000

STOCKHOLDERS' EQUITY - Private

STOCKHOLDERS' EQUITY - Private Placement of Common Stock and Warrants - Additional Information (Details) - USD ($)	Mar. 18, 2015	Jun. 30, 2015
Class Of Stock [Line Items]
Gross proceeds from issuance of common stock and warrants	$ 31,000,000	$ 30,999,999
Issuance cost		2,466,984
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984		$ 28,533,015
Private Placement
Class Of Stock [Line Items]
Sale of common stock, price per share	$ 4.81
Warrants price per share	0.125
Common stock exercise price per share	$ 5.772
Warrants expiration date	Mar. 18, 2017
Issuance cost	$ 2,466,984
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984	$ 28,500,000
Registration rights agreement date		Mar. 13, 2015
Registration rights agreement term		Pursuant to the terms of the Registration Rights Agreement, the Company was obligated to prepare and file with the SEC a registration statement to register for resale the 6,281,661 shares of its common stock issued in the private placement and the 6,281,661 shares of its common stock issuable upon exercise of the warrants on or prior to May 2, 2015.
Penalty percentage for not meeting the registration agreement		10.00%
Common Stock
Class Of Stock [Line Items]
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984		$ 628
Common Stock | Private Placement
Class Of Stock [Line Items]
Shares of common stock issued	6,281,661	6,281,661
Shares of common stock to purchase by warrant	6,281,661
Issuance of common stock and warrants pursuant to a private placement, net of issuance costs of $2,466,984	$ 28,500,000

STOCKHOLDERS' EQUITY - Term Loa

STOCKHOLDERS' EQUITY - Term Loan Warrants - Additional Information (Details) - Jan. 16, 2015 - USD ($) $ / shares in Units, $ in Millions	Total
Class Of Warrant Or Right [Line Items]
Fair value of warrants estimated	$ 0.2
Warrant
Class Of Warrant Or Right [Line Items]
Expiration anniversary date of issuance	10 years
Expected stock price volatility (as a percent)	100.80%
Risk-free interest rate (as a percent)	1.83%
Expected life	10 years
Expected dividend	$ 0
Term Loan
Class Of Warrant Or Right [Line Items]
Aggregate number of shares of Common Stock issuable	2.25%
Consecutive trading days	10 days
Term Loan | Term A Loans
Class Of Warrant Or Right [Line Items]
Shares of common stock to purchase by warrant	40,790
Common stock exercise price per share	$ 5.516

STOCK OPTION PLAN - Additional

STOCK OPTION PLAN - Additional Information (Details) - USD ($)	Jan. 02, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Jan. 01, 2015
Stock Option Plan
Fair value of common stock on grant date (in dollars per share)				$ 4.21	$ 5.11
Stock-based compensation expense				$ 882,303	$ 14,816,940
Total unrecognized compensation costs related to non-vested awards (in dollars)		$ 6,600,000		$ 6,600,000
Period over which unrecognized compensation costs related to non-vested awards is expected to be recognized				3 years 2 months 9 days
Weighted average contractual term of the options outstanding				9 years 2 months 12 days
Intrinsic value of outstanding stock options (in dollars)		$ 500,000		$ 500,000
Dividend yield (as a percent)				0.00%	0.00%
Employee Stock Option
Stock Option Plan
Fair value of common stock on grant date (in dollars per share)				$ 5.19
2013 Equity Incentive Plan
Stock Option Plan
Increase in number of shares authorized for issuance						737,579
Shares authorized for issuance under the plan							4,281,333
Additional shares authorized for issuance under the plan as percentage of total shares outstanding						4.00%
2013 Equity Incentive Plan | Employee Stock Option
Stock Option Plan
Stock options granted		848,778	1,495,048
Weighted average exercise price		$ 5.18	$ 6
Maximum | 2013 Equity Incentive Plan | Employee Stock Option
Stock Option Plan
Term of share-based award	10 years

STOCK OPTION PLAN - Stock Optio

STOCK OPTION PLAN - Stock Option Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015
Stock Options
Outstanding at the beginning of period (in shares)	2,076,558
Granted (in shares)	848,778
Forfeited (in shares)	(20,000)
Outstanding at the end of the period (in shares)	2,905,336
Exercisable at the end of the period (in shares)	1,412,527
Available for future grant (in shares)	1,375,997
Weighted-Average Exercise Price
Outstanding at the beginning of period (in dollars per share)	$ 6.64
Granted (in dollars per share)	5.18
Forfeited (in dollars per share)	6.26
Outstanding at the end of the period (in dollars per share)	6.22
Exercisable at the end of the period (in dollars per share)	$ 6.79

STOCK OPTION PLAN - Summary of

STOCK OPTION PLAN - Summary of Assumptions Used in Black Scholes Model to Estimate Fair Value of Stock Options (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Stock Option Plan
Expected term (years)		6 years 3 months
Risk free interest rate		1.94%
Volatility		113.00%
Dividend yield	0.00%	0.00%
Weighted average grant date fair value per share of common stock	$ 4.21	$ 5.11
Minimum
Stock Option Plan
Expected term (years)	5 years 6 months
Risk free interest rate	1.27%
Volatility	74.00%
Maximum
Stock Option Plan
Expected term (years)	6 years 3 months
Risk free interest rate	1.80%
Volatility	110.00%

COMMITMENTS - Additional Inform

COMMITMENTS - Additional Information (Details) - Sep. 30, 2014	USD ($)ft²
Commitments And Contingencies Disclosure [Abstract]
Area of office space	4,043
Estimated annual rent payable | $	$ 100,000
Lease term	2 years

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - Jun. 30, 2014 - USD ($)	Total	Total
Investor
Related Party Transaction [Line Items]
Related party expenses	$ 15,000	$ 35,000
Certain stockholders
Related Party Transaction [Line Items]
Related party expenses	$ 200,000	$ 300,000

SUBSEQUENT EVENTS -Additional I

SUBSEQUENT EVENTS -Additional Information (Details) - $ / shares	Jul. 01, 2015	Jun. 30, 2015
Subsequent Event [Line Items]
Stock options weighted average exercise price		$ 5.18
Subsequent Event
Subsequent Event [Line Items]
Stock options weighted average exercise price	$ 5.60
Subsequent Event | Two New Employees
Subsequent Event [Line Items]
Stock options granted	200,000
Vesting period	4 years
Subsequent Event | Board of Directors
Subsequent Event [Line Items]
Stock options granted	25,000
Vesting period	3 years