Evofem Biosciences (EVFM) 10-K 23 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 01, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	NEOT
Entity Registrant Name	Neothetics, Inc.
Entity Central Index Key	1,618,835
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		13,829,716
Entity Public Float			$ 7,583,539

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 11,477,852	$ 37,748,603
Prepaid expenses and other current assets	1,029,546	1,976,997
Total current assets	12,507,398	39,725,600
Restricted cash	200,000	200,000
Property and equipment, net	109,320	186,372
Total assets	12,816,718	40,111,972
Current liabilities:
Accounts payable	503,739	4,017,192
Accrued clinical trial expenses	359,067	1,422,810
Other accrued expenses	39,386	903,148
Long-term debt, current portion		2,756,351
Total current liabilities	902,192	9,099,501
Long-term debt, net of current portion		7,205,176
Stockholders' equity:
Preferred stock, $0.0001 par value; 5,000,000 shares authorized, no shares issued and outstanding
Common stock - $0.0001 par value; 300,000,000 shares authorized; 13,828,496 and 13,750,016 shares issued and outstanding at December 31, 2016 and 2015 respectively	1,382	1,374
Additional paid-in capital	137,763,499	136,637,678
Accumulated deficit	(125,850,355)	(112,831,757)
Total stockholders’ equity	11,914,526	23,807,295
Total liabilities and stockholders’ equity	$ 12,816,718	$ 40,111,972

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	13,828,496	13,750,016
Common stock, shares outstanding	13,828,496	13,750,016

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Expenses:
Research and development	$ 6,578,678	$ 34,409,664	$ 5,174,876
General and administrative	5,463,622	7,639,427	4,416,181
Total operating expenses	12,042,300	42,049,091	9,591,057
Loss from operations	(12,042,300)	(42,049,091)	(9,591,057)
Interest income	59,465	26,033	7,555
Interest expense	(1,035,763)	(1,133,987)	(374,891)
Loss on change in fair value of preferred stock warrants			(860,843)
Net loss	$ (13,018,598)	$ (43,157,045)	$ (10,819,236)
Net loss per share, basic and diluted	$ (0.94)	$ (3.15)	$ (5.36)
Weighted average shares used to compute basic and diluted net loss per share	13,801,003	13,696,033	2,017,601

STATEMENTS OF CONVERTIBLE PREFE

STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS EQUITY (DEFICIT) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Series A Convertible Preferred Stock	Series B Convertible Preferred Stock	Series B-2 Convertible Preferred Stock	Series C Convertible Preferred Stock	Series D Convertible Preferred Stock
Beginning balance at Dec. 31, 2013	$ (56,691,362)	$ 51	$ 2,164,063	$ (58,855,476)	$ 1,455,686	$ 23,095,634	$ 6,816,594	$ 26,120,739
Beginning balance, shares at Dec. 31, 2013		508,009			1,500,000	12,432,430	4,402,438	19,608,195
Issuance of preferred stock for cash net of offering costs								$ 7,992,718	$ 5,433,421
Issuance of preferred stock for cash net of offering costs, shares								5,714,288	3,333,334
Common stock issued upon exercise of options	76,300	$ 5	76,295
Common stock issued upon exercise of options, shares		54,920
Share-based compensation	612,952		612,952
Initial public offering of common stock at $14.00 per share, net of $7,361,037 offering costs	57,738,963	$ 465	57,738,498
Initial public offering of common stock at $14.00 per share, net of $7,361,037 offering costs, shares		4,650,000
Conversion of preferred stock to common stock	70,914,792	$ 822	70,913,970		$ (1,455,686)	$ (23,095,634)	$ (6,816,594)	$ (34,113,457)	$ (5,433,421)
Conversion of preferred stock to common stock, shares		8,225,062			(1,500,000)	(12,432,430)	(4,402,438)	(25,322,483)	(3,333,334)
Conversion of preferred stock warrants to common stock warrants	3,415,020		3,415,020
Net exercise of warrants		$ 23	(23)
Net exercise of warrants, shares		233,320
Net loss	(10,819,236)			(10,819,236)
Ending balance at Dec. 31, 2014	65,247,429	$ 1,366	134,920,775	(69,674,712)
Ending balance, shares at Dec. 31, 2014		13,671,311
Common stock issued upon exercise of options	96,504	$ 5	96,499
Common stock issued upon exercise of options, shares		48,167
Common stock issued upon purchase of the employee stock purchase plan	42,126	$ 1	42,125
Common stock issued upon purchase of the employee stock purchase plan, shares		8,038
Issuance of restricted shares, net of shares repurchased for minimum tax liability	193,500	$ 2	193,498
Issuance of restricted shares, net of shares repurchased for minimum tax liability, shares		22,500
Share-based compensation	1,384,781		1,384,781
Net loss	(43,157,045)			(43,157,045)
Ending balance at Dec. 31, 2015	23,807,295	$ 1,374	136,637,678	(112,831,757)
Ending balance, shares at Dec. 31, 2015		13,750,016
Common stock issued upon exercise of options	33,542	$ 3	33,539
Common stock issued upon exercise of options, shares		29,300
Issuance of restricted shares, net of shares repurchased for minimum tax liability	5	$ 5
Issuance of restricted shares, net of shares repurchased for minimum tax liability, shares		49,180
Debt amendment warrant costs	9,417		9,417
Share-based compensation	1,082,865		1,082,865
Net loss	(13,018,598)			(13,018,598)
Ending balance at Dec. 31, 2016	$ 11,914,526	$ 1,382	$ 137,763,499	$ (125,850,355)
Ending balance, shares at Dec. 31, 2016		13,828,496

STATEMENTS OF CONVERTIBLE PREF6

STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS EQUITY (DEFICIT) (Parenthetical)	12 Months Ended
	Dec. 31, 2014USD ($)$ / shares
Common Stock
Initial public offering of common stock, offering costs	$ 7,361,037
Common stock, par value | $ / shares	$ 14
Series C Convertible Preferred Stock
Offering cost on issuance of stock	$ 7,285
Series D Convertible Preferred Stock
Offering cost on issuance of stock	$ 566,580

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net loss	$ (13,018,598)	$ (43,157,045)	$ (10,819,236)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on sale of assets	4,858	6,140
Depreciation and amortization	69,094	58,425	17,669
Non-cash interest expense on notes payable and debt	100,290	220,447	84,330
Share-based compensation	1,082,869	1,578,279	612,952
Loss on change in fair value of preferred stock warrants			860,843
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	947,452	(1,051,224)	(783,910)
Accounts payable and accrued expenses	(5,440,958)	4,433,561	455,234
Net cash used in operating activities	(16,254,993)	(37,911,417)	(9,572,118)
Investing activities
Proceeds from sale of property and equipment	3,100
Increase in restricted cash		(200,000)
Purchase of property and equipment		(226,128)	(18,078)
Net cash provided by (used in) investing activities	3,100	(426,128)	(18,078)
Financing activities
Proceeds from bank loan			10,000,000
Prepayment resulting in debt extinguishment	(9,514,058)
Principal payments on bank loan	(538,342)		(209,698)
Issuance of common stock from exercise of options	33,542	96,506	76,300
Issuance of common stock from employee stock purchase plan		42,126
Issuance of preferred stock for cash, net of offering costs			13,568,140
Proceeds from IPO, net of offering costs			57,738,963
Net cash provided by (used in) financing activities	(10,018,858)	138,632	81,173,705
Net (decrease) increase in cash and cash equivalents	(26,270,751)	(38,198,913)	71,583,509
Cash and cash equivalents, beginning of period	37,748,603	75,947,516	4,364,007
Cash and cash equivalents, end of period	11,477,852	37,748,603	75,947,516
Supplemental disclosure of cash flow activity
Cash paid for interest	$ 973,115	$ 912,500	351,891
Supplemental disclosure of non-cash financing activities
Warrants issued for services in connection with issuance of preferred stock			142,001
Warrants issued in connection with Loan and Security Agreement			207,429
Conversion of preferred stock warrants to common stock warrants			3,415,020
Conversion of convertible preferred stock into common stock			$ 70,913,970

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation The Company was incorporated in Delaware on February 1, 2007, under the name Lipothera, Inc. In September 2008, the Company changed its name to Lithera, Inc. In August 2014, the Company changed its name to Neothetics, Inc. The Company is a clinical-stage specialty pharmaceutical company developing therapeutics for the aesthetic market. The Company’s As of December 31, 2016, the Company has devoted substantially all of its efforts to product development, raising capital, and building infrastructure and has not realized revenues from its planned principal operations. The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. We have incurred net losses from operations since inception and have an accumulated deficit of $125.9 million at December 31, 2016. We have cash and cash equivalents as of December 31, 2016 totaling $11.5 million. We have prepared cash flow forecasts which indicate, based on our current cash resources available, that we will have sufficient resources to fund our business, including our on-going Phase 2 proof of concept trial for the reduction of submental fat, for at least the next 12 months from the date of this filing. Based on the results of this trial, t he Company will need to raise additional funding in the form of an equity or debt financing or through entering into a collaboration in order to fund the completion of any future trials and further development of LIPO-202. The Company may in the future seek additional capital from public or private offerings of its capital stock or it may elect to seek to fund operations through a debt facility. If the Company issues equity or debt securities to raise additional funds, its existing stockholders may experience dilution, it may incur significant financing costs, and the new equity or debt securities may have rights, preferences and privileges senior to those of its existing stockholders. The Company’s ability to continue as a going concern and meet its minimum liquidity requirements in the future is dependent on its ability to raise significant additional capital, of which there can be no assurance. If the Company cannot generate sufficient additional financing on acceptable terms, it may be forced to significantly alter its business strategy, substantially curtail its current operations, or cease operations altogether.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of 90 days or less at the date of purchase to be cash equivalents. Cash and cash equivalents include cash in readily available checking and money market accounts. Restricted Cash Restricted cash as of December 31, 2016 represents a $200,000 restricted money market account used to secure the standby letter of credit issued in connection with a lease amendment (see Note 5 “Debt”). Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash due to the financial position of the depository institution in which those deposits are held. Fair Value of Financial Instruments The carrying amounts of prepaid and other current assets, accounts payable and accrued expenses are reasonable estimates of their fair value because of the short term maturity of these items. Property and Equipment Property and equipment, which primarily consist of office furniture and equipment and computer equipment, are stated at cost and depreciated over the estimated useful lives of the assets (three to five years) using the straight-line method. Impairment of Long-Lived Assets Long-lived assets consist primarily of property and equipment. An impairment loss is recorded if and when events and circumstances indicate that assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. While the Company's current and historical operating losses and negative cash flows are indicators of impairment, management believes that future cash flows to be received support the carrying value of its long-lived assets and, accordingly, has not recognized any impairment losses since inception. Research and Development Costs Research and development expenses consist primarily of salaries and related overhead expenses; fees paid to consultants and contract research organizations; costs related to acquiring and manufacturing clinical trial materials; and costs related to compliance with regulatory requirements. All research and development costs are charged to expense as incurred. Income Taxes The Company uses the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Valuation allowances are recorded when the realizability of such deferred tax assets is not more likely than not. The guidance on accounting for uncertainty in income taxes prescribes a recognition threshold and measurement attribute criteria for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s policy is to recognize interest expense and penalties related to income tax matters as a component of income tax expense. During 2016 and 2015, the Company had not recognized interest and penalties in the balance sheets or statements of operations. The Company is subject to taxation in the U.S. and state jurisdictions. The Company’s tax years from inception are subject to examination by the United States and California authorities due to the carryforwards of unutilized net operating losses (NOLs) and research and development credits. Share-Based Compensation Share-based compensation for the Company includes amortization related to all stock options, restricted stock awards and shares issued under the employee stock purchase plan, based on the grant-date fair value. The fair value of each option and restricted stock award is estimated on the date of grant using the Black-Scholes option pricing model. The expected life of the awards is based on the simplified method described in SEC Staff Accounting Bulletin No. 107. The expected volatility assumption is based upon the historical volatility of a number of publicly traded companies in similar stages of clinical development. The risk-free interest rate is based on the yield of U.S. Treasury bills with a life that approximates the expected life of the awards. The Company recognizes share-based compensation on a straight-line basis over the vesting term of the options. Option grants to non-employees are valued at fair value and are expensed over the period services are provided. These options are subject to periodic revaluation to reflect the current fair value at each reporting period until the non-employee completes the performance obligation or the date on which a performance commitment is reached. During the year ended December 31, 2016, there were 250,000 shares issued to non-employee consultants. There was no non-cash compensation to consultants for the years ended December 31, 2015 and 2014. Net Loss per Share Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common shares and common share equivalents outstanding during the period. Common stock equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities, which include common stock warrants and outstanding stock options under the stock option plan, have been excluded from the computation of diluted net loss per share as they would be anti-dilutive. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company’s net loss position. The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because to do so would be anti-dilutive. December 31, 2016 December 31, 2015 December 31, 2014 Warrants for common stock 71,257 71,257 71,257 Common stock options and restricted stock awards issued and outstanding 871,203 1,363,027 1,198,830 942,460 1,434,284 1,270,087 Recent Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (the “FASB) i In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments. This pronouncement gives guidance to clarify how certain cash receipts and payments should be presented and classified in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the timing of adoption of this guidance and the impact of the adoption of this guidance on its financial statements. In March 2016, the FASB issued ASU 2016-09 (“ASU 2016-09”), Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies several aspects of the accounting for employee share-based payments, including accounting for income taxes, forfeitures, statutory tax withholding requirements, and classification on the statement of cash flows. The amendments in this ASU are effective for annual periods beginning after December 15, 2016. Early adoption is permitted. The Company is evaluating the impact of adoption on its financial statements. In February 2016, the FASB issued ASU 2016-02 (“ASU 2016-02”), Leases. ASU 2016-02 requires that lessees recognize assets and liabilities for the rights and obligations for leases with a lease term of more than one year. The amendments in this ASU are effective for annual periods ending after December 15, 2018. Early adoption is permitted. The Company is evaluating the impact of adoption on its financial statements. In August 2014, the FASB issued ASU 2014-15 (“ASU 2014-15”), Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under the new guidance, management is required to assess an entity’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The provisions of this standard are effective for annual periods ending after December 31, 2016, and for annual and interim periods thereafter. We adopted this guidance for the year ended December 31, 2016 and management believes that our existing cash and cash equivalents will be sufficient to fund our operations into the second quarter 2018.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts payable, accrued expenses, including warrants issued in connection with financing arrangements, and long-term debt. Fair value estimates of these instruments are made at a specific point in time based on relevant market information. These estimates may be subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. The carrying amount of cash and cash equivalents, accounts payable, and accrued expenses are generally considered to be representative of their respective fair values because of the short-term nature of these instruments. The Company believes that the fair value of long-term debt approximates its carrying value based on the borrowing rates currently available to the Company for loans with similar terms. The authoritative guidance for fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Market participants are buyers or sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. The guidance prioritizes three levels of inputs into the following hierarchy: Level 1 — Quoted prices in active markets for identical assets or liabilities. Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and 2015 are as follows: Fair Value Measurements at Reporting Date Using Balance as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Money market fund (1) $ 11,477,852 $ 11,477,852 $ — $ — Total assets $ 11,477,852 $ 11,477,852 $ — $ — (1) Included as a component of cash and cash equivalents on accompanying balance sheet. Fair Value Measurements at Reporting Date Using Balance as of December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Money market fund (1) $ 36,752,200 $ 36,752,200 $ — $ — Total assets $ 36,752,200 $ 36,752,200 $ — $ — (1) Included as a component of cash and cash equivalents on accompanying balance sheet.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2016
Property Plant And Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consist of the following: December 31, 2016 2015 Office furniture and equipment $ 254,049 $ 279,547 Less accumulated depreciation and amortization (144,729 ) (93,175 ) $ 109,320 $ 186,372 Depreciation and amortization expense related to furniture and equipment amounted to $69,094, $58,425, and $17,669, for the years ended December 31, 2016, 2015, and 2014 respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt	5. Debt Loans In February 2010, and as amended during 2012, the Company entered into a loan and security agreement (2010 Loan and Security Agreement) with Silicon Valley Bank (SVB), for borrowings of $3,750,000, collateralized by all assets of the Company. In connection with the borrowings, the Company issued warrants to the bank for the purchase of a total of 64,865 shares of Series B convertible preferred stock and warrants to purchase 75,000 shares of Series C convertible preferred stock. Effective upon the IPO, this was converted to a warrant to purchase 24,419 shares of common stock at a weighted average exercise price of $9.90 and expire ten years from the date of issuance. In 2013, through the payoff of the loan in June 2014 the Company paid interest equal to 7.78% above the 24-month Treasury Rate with a floor of 8.00%. The Company recorded total interest expense of $4,186 for the twelve months ended December 31, 2014, related to the 2010 Loan and Security Agreement, as amended In June 2014, the Company entered into a Loan and Security Agreement (Loan Agreement) with Hercules Technology Growth Capital Inc. that provided for borrowings up to $10.0 million available to the Company in two tranches. Upon closing of the Loan Agreement, the Company borrowed $4.0 million. In October 2014, the Company entered into the first amendment of the Loan Agreement and borrowed the remaining $6.0 million available under the agreement. In connection with the Loan Agreement, in June 2014, the Company issued warrants to purchase shares of Series C convertible preferred stock equal to 4% of the amount advanced under the loan. Effective upon the IPO, this was converted to a warrant to purchase 46,838 shares of common stock at $8.54, which expires on June 11, 2024. The fair value of the warrants issued was $207,429, based on the fair value of such Series C warrants at the date of issuance. The warrants’ fair value and financing fees of approximately $133,000 were recorded as a debt discount. In March 2016, the Company entered into the second amendment of the Loan Agreement that provided for a prepayment of the outstanding loan carrying amount of $5.5 million with a prepayment fee of $110,000. In connection with the second amendment, the Company re-priced the outstanding warrants to purchase 46,838 shares of common stock at a new exercise price of $0.62, which will expire in September 2022 unless exercised prior to such expiration date. The Company recorded a debt discount of $9,417 associated with the fair value of the warrants issued in connection with the amendment. In addition, the Company incurred loan amendment fees and legal fees of $52,400, which the Company recorded as a debt discount. In September 2016, the Company prepaid the remaining outstanding balance under the Loan Agreement at a carrying amount of $4.0 million with a prepayment fee of $120,000 and an end of term fee of $300,000. Accordingly, the Loan Agreement was terminated on September 23, 2016. Upon termination of the Loan Agreement, the prepayment fees of $230,000 and unamortized end of term fee of $260,000 were recorded as interest expense From June 2014 through payoff in September 2016, the Company paid interest equal to the greater of either 9.0%, plus the Prime Rate as reported in The Wall Street Journal, less 3.25% or 9.0%. The Company recorded total interest expense of $1,035,763, $1,133,987 and $374,891 for the twelve months ended December 31, 2016, December 31, 2015 and December 31, 2014, respectively. Letter of Credit In January 2015, the Company executed a lease amendment with LJ Gateway, LLC for new office space. In connection with this lease amendment the Company issued a stand-by letter of credit in the amount of $200,000 in lieu of a security deposit. The standby letter of credit is secured by a restricted money market account. The terms of the standby letter of credit expire in May 2020 and are subject to automatic yearly renewal prior to this date.

Convertible Preferred Stock and

Convertible Preferred Stock and Stockholders Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Convertible Preferred Stock and Stockholders’ Equity	6. Convertible Preferred Stock and Stockholders’ Equity Common Stock On December 1, 2015, the Company entered into a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald, as a sales agent pursuant to which the Company may offer and sell from time to time, through Cantor Fitzgerald shares of Neothetics common stock, par value $0.0001 per share, having an aggregate offering price of up to $20.0 million. The minimum share price for this Controlled Equity Offering is selected at the discretion of the board of directors. The Company cannot provide any assurances that it will issue any shares pursuant to the Sales Agreement. Subject to the terms and conditions of the Sales Agreement, Cantor Fitzgerald will use commercially reasonable efforts consistent with its normal trading and sales practices, applicable state and federal law, rules and regulations and the rules of the NASDAQ Global Market to sell shares from time to time based upon Neothetics’ instructions, including any price, time or size limits specified by Neothetics. Under the Sales Agreement, Cantor Fitzgerald may sell shares by any method deemed to be an “at-the-market” offering as defined in Rule 415 under the U.S. Securities Act of 1933, as amended, or any other method permitted by law, including in privately negotiated transactions. Neothetics will pay Cantor Fitzgerald a commission of 3.0% of the aggregate gross proceeds from each sale of shares and has agreed to provide Cantor Fitzgerald with customary indemnification and contribution rights. Neothetics has also agreed to reimburse Cantor Fitzgerald for legal fees and disbursements, not to exceed $50,000 in the aggregate, in connection with entering into the Sales Agreement. The Sales Agreement may be terminated by Cantor Fitzgerald or Neothetics at any time upon notice to the other party, or by Cantor Fitzgerald at any time in certain circumstances, including the occurrence of a material and adverse change in Neothetics’ business or financial condition that makes it impractical or inadvisable to market the shares or to enforce contracts for the sale of the shares. As of December 31, 2016, no shares were issued pursuant to the Sales Agreement. Stock Compensation Plan The Company adopted a Stock Option Plan in 2007, or the 2007 Plan under which 1,271,360 shares of common stock were reserved for issuance to employees, non-employee directors, and consultants of the Company. Effective upon the completion of the Company’s IPO, the board of directors determined not to grant any further awards under the 2007 Plan. In September 2014, the Company’s board of directors and stockholders approved and adopted the 2014 Equity Incentive Plan (the 2014 Plan). The 2014 Plan became effective immediately prior to the Company’s IPO. A total of 1,000,000 shares of common stock were initially reserved for issuance under the 2014 Plan. This reserve automatically increased on January 1, 2015 and will continue to increase each subsequent anniversary through 2024, by an amount equal to the smaller of (a) 4% of the number of shares of common stock issued and outstanding on the date immediately preceding December 31 and (b) an amount determined by our board of directors. All shares that remained available, expired, or otherwise terminated without having been exercised in full and unvested shares that were forfeited to or repurchased by us under the 2007 Plan were rolled into 2014 Plan. The 2014 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, or RSU’s, performance shares, and units and other cash-based or share-based awards. In addition, the 2014 Plan contains a mechanism through which we may adopt a deferred compensation arrangement in the future. Recipients of stock options shall be eligible to purchase shares of the Company’s common stock at an exercise price equal to no less than the estimated fair market value of such stock on the date of grant. The following table summarizes stock option and restricted stock award transactions under the 2014 Plan during the years ended December 31, 2016, December 2015 and 2014: Options Outstanding Weighted Average Exercise Price Weighted Average Contractual Life — Years Total Intrinsic Value Outstanding at December 31, 2013 368,566 $ 1.59 6.2 Granted 906,752 $ 1.68 Exercised (54,920 ) $ 1.39 Forfeited (21,568 ) $ 1.33 Outstanding at December 31, 2014 1,198,830 $ 1.68 8.3 $ 10,489,128 Granted 400,719 $ 7.28 Exercised (97,348 ) $ 0.99 $ 767,354 Forfeited (139,174 ) $ 4.49 Outstanding at December 31, 2015 1,363,027 $ 3.09 7.9 $ 244,998 Granted 563,856 $ 1.09 Exercised (78,480 ) $ 0.43 $ 37,646 Forfeited (977,200 ) $ 2.27 Outstanding and exercisable at December 31, 2016 871,203 $ 2.95 8.6 $ 18,363 Vested and options expected to vest at December 31, 2016 840,403 $ 3.00 8.6 $ 15,934 The 2014 Plan allows for the exercise of unvested options, which are subject to repurchase until vesting occurs. All options exercised to date were fully vested at date of exercise. No grants expired during the year ended December 31, 2016. The weighted average fair value of options granted was $0.46 and 3.14 for the twelve months ended December 31, 2016 and December 31, 2015, respectively. The weight average fair value of options vested was $1.50 at December 31, 2016. Total cash received upon the exercise of stock options was $33,542 for the year ended December 31, 2016.The unrecognized compensation cost related to non-vested stock options and restricted stock awards outstanding at December 31, 2016 and December 31, 2015, net of expected forfeitures, was $420,339 and $3,102,234, respectively, to be recognized over a weighted-average remaining vesting period of approximately 1.7 and 2.6 years, respectively. Share-Based Compensation The estimated fair value of each option award granted was determined on the date of grant using the Black-Scholes option-pricing valuation model with the following weighted-average assumptions for options grants. Year Ended December 31, 2016 2015 2014 Weighted Average Assumptions: Risk-free interest rate 1.61 % 1.69 % 1.85 % Expected dividend yield 0 % 0 % 0 % Expected volatility 44.89 % 43.72 % 87.00 % Expected term (in years) 5.4 5.8 6.0 The risk-free interest rate assumption was based on the yield of an applicable rate for U.S. Treasury instruments with maturities similar to those of the expected term of the award being valued. The assumed dividend yield was based on the Company never paying cash dividends and having no expectation of paying cash dividends in the foreseeable future. The weighted average expected term of options was calculated using the simplified method as permitted by accounting guidance for stock-based compensation. In addition, due to the Company’s limited historical data, the estimated volatility was calculated based upon the historical volatility of comparable companies in the biotechnology industry whose share prices are publicly available for a sufficient period of time. Employee Stock Purchase Plan In November 2014, the Company adopted the 2014 Employee Stock Purchase Plan (the “ESPP”), which enables eligible employees to purchase shares of the Company’s common stock using their after tax payroll deductions of up to 15% of their eligible compensation, subject to certain restrictions. The ESPP initially authorized the issuance of 170,000 shares of common stock pursuant to purchase rights granted to employees. The number of shares of common stock reserved for issuance automatically increased on January 1, 2015 and will continue to increase on each January 1 thereafter through January 1, 2024, by the smaller of (a) 1.0% of the total issued and outstanding Shares on the preceding December 31, and (b) a number of Shares determined by the Board of Directors of the Company. The ESPP is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423 of the Code. The Company estimates the fair value of shares issued to employees under the ESPP using a Black-Scholes option-pricing model. The Black-Scholes model requires the use of subjective and complex assumptions, including (a) the expected stock price volatility, (b) the calculation of the expected term of the award, (c) the risk free interest rate and (d) the expected dividend yield, which determine the fair value of share-based awards. There were no shares issued under the ESPP during the year ended December 31, 2016. The weighted average assumptions used to estimate the fair value of shares issued under the ESPP in the years ended December 31, 2015 and 2014 using the Black-Scholes option pricing model were as follows: For the Year Ended 2015 2014 Weighted Average Assumptions: Risk-free interest rate 0.39 % 0.34 % Expected dividend yield 0 % 0 % Expected volatility 45.13 % 45.43 % Expected term (in years) 1.23 1.27 The Company recognized non-cash share-based compensation expense related to its ESPP, restricted stock awards and stock options granted to employees and directors in its research and development and its general and administrative functions as follows: Year Ended December 31, 2016 2015 2014 Research and development $ 163,996 $ 410,099 $ 235,867 General and administrative 918,869 974,682 377,085 $ 1,082,865 $ 1,384,781 $ 612,952 Common Stock Reserved for Future Issuance Common stock reserved for future issuance is as follows: December 31, 2016 December 31, 2015 Warrants issued and outstanding 71,257 71,257 Stock options and restricted stock awards issued and outstanding 871,203 1,363,027 Authorized for future option grants 2,276,079 1,312,734 Employee stock purchase plan 436,175 298,675 3,654,714 3,045,693

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes As of December 31, 2016, the Company had federal and California tax net operating loss (NOL) carryforwards available to reduce its future taxable income of approximately $119,242,000 and $63,992,000, respectively. The federal NOL begins to expire in 2027 and the state NOL begins to expire in 2017 unless previously utilized. At December 31, 2016, the Company has federal and state research tax credits of $3,803,000 and $2,623,000, respectively. The federal research credit expires in 2027 unless previously utilized. The California research credit will carry forward indefinitely until utilized. Utilization of the NOL and R&D credit carryforwards may be subject to a substantial annual limitation due to ownership change limitations that may have occurred or that could occur in the future, as required by Section 382 of the Internal Revenue Code of 1986, as amended (the "Code"), as well as similar state and foreign provisions. These ownership changes may limit the amount of NOL and R&D credit carryforwards that can be utilized annually to offset future taxable income and tax, respectively. In general, an "ownership change" as defined by Section 382 of the Code results from a transaction or series of transactions over a three-year period resulting in an ownership change of more than 50 percentage points of the outstanding stock of a company by certain stockholders. Since the Company's formation, the Company has raised capital through the issuance of capital stock on several occasions, including the IPO in 2014, which on their own or combined with the purchasing stockholders' subsequent disposition of those shares, may have resulted in such an ownership change, or could result in an ownership change in the future. The Company has not completed a study to assess whether an ownership change has occurred or whether there have been multiple ownership changes since the Company's formation due to the complexity and cost associated with such a study and the fact that there may be additional such ownership changes in the future. If the Company has experienced an ownership change at any time since its formation, utilization of the NOL or R&D credit carryforwards would be subject to an annual limitation under Section 382 of the Code, which is determined by first multiplying the value of the Company's stock at the time of the ownership change by the applicable long-term, tax-exempt rate, and then could be subject to additional adjustments, as required. Any limitation may result in expiration of a portion of the NOL or R&D credit carryforwards before utilization. Further, until a study is completed and any limitation known, no amounts are being considered as an uncertain tax position or disclosed as an unrecognized tax benefit. Due to the existence of the valuation allowance, future changes in the Company's unrecognized tax benefits will not impact its effective tax rate. Any carryforwards that will expire prior to utilization as a result of such limitations will be removed from deferred tax assets, with a corresponding reduction of the valuation allowance. Until the study is completed, the Company has removed federal and state operating losses of approximately $44,276,000 and federal and state research and development credits of approximately $5,534,000 from its deferred tax asset schedule and has recorded a corresponding decrease to its valuation allowance. Significant components of the Company's deferred tax assets for federal and state income taxes at December 31, 2016 and 2015 are shown below. A valuation allowance has been established as realization of such deferred tax assets is uncertain. 2016 2015 Deferred tax assets: Accrued compensation 46,000 138,000 Non-qualified Stock Options 173,000 349,000 Other, net 34,000 106,000 Total deferred tax assets 253,000 593,000 Valuation allowance (253,000 ) (593,000 ) $ — $ — There was no material income tax expense for the years ended December 31, 2016 and 2015. A reconciliation of income tax expense as compared to the tax expense calculated by applying the statutory federal and state tax rate to income before taxes for the years ended December 31 is as follows: 2016 2015 2014 Income tax at statutory rates 39.8 % 39.8 % 40.0 % Warrant liability remeasurement 0.0 % 0.0 % (3.0 %) NOL not recorded due to 382 limitations (36.7 %) (39.3 %) (34.0 %) Other (3.1 %) (0.5 %) (3.0 %) Total tax expense 0.0 % 0.0 % 0.0 % The Company follows the provisions under the Income Taxes topic of the Codification which addresses accounting for the uncertainty in income taxes. The evaluation of a tax position in accordance with this topic is a two-step process. The first step involves recognition. The Company determines whether it is more likely than not that a tax position will be sustained upon tax examination, including resolution of any related appeals or litigation, based on only the technical merits of the position. The technical merits of a tax position derive from both statutory and judicial authority (legislation and statutes, legislative intent, regulations, rulings, and case law) and their applicability to the facts and circumstances of the tax position. If a tax position does not meet the more-likely-than-not recognition threshold, the benefit of that position is not recognized in the financial statements. The second step is measurement. A tax position that meets the more-likely-than-not recognition threshold is measures to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate resolution with a taxing authority. The Company files income tax returns in the United States and California. The Company currently has no years under examination by any jurisdiction; however, the Company is subject to income tax examination by federal and state for years beginning in 2013 and 2012, respectively. However, to the extent allowed by law, the taxing authorities may have the right to examine prior periods where NOLs and tax credits were generated and carried forward, and make adjustment up to the amount of the carryforwards. The Company does not have any unrecognized tax benefits as of December 31, 2016 and does not anticipate that the amount of unrecognized tax benefits will significantly change within the next twelve months. The Company has not recognized interest or penalties in its consolidated statements of operations and comprehensive loss since inception. The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company had no accrual for interest and/or penalties in the statements of operations for the years ended December 31, 2016, 2015, and 2014 or for the period from February 1, 2007 to December 31, 2016.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments	8. Commitments Operating Leases The Company entered into a non-cancelable operating lease for its facilities on January 20, 2015. The lease expires in March 2020. Rent expense was $429,927, $388,997 and $228,281 for the years ended December 31, 2016, 2015 and 2014, respectively. The payments escalate over the term of the lease; however, the Company recognizes the expense on a straight-line basis over the term of the lease. The following table summarizes the minimum lease payments under this commitment. 2017 $ 395,520 2018 410,850 2019 431,508 2020 109,293 2021 and thereafter — Total $ 1,347,171

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events In the first quarter of 2017, the Company entered into an Eleventh Amendment to the Lease with LJ Gateway Office LLC. Concurrent with entering into the Lease Amendment, the Company entered into a Sublease with Abacus Data Systems, Inc. (“Abacus”). This Lease Amendment provides for an additional space consisting of approximately 3,580 square feet located at Suite No. 250, 9171 Towne Centre Drive, San Diego California (the “New Premises”). The Company intends to occupy the New Premises as its headquarters while subleasing the entire Original Premises to Abacus. The base monthly rent for the New Premises will be $10,203 per month commencing on February 13, 2017. Upon occurrence of Abacus retaining possession of the original premises, Abacus shall receive a discount of 50% off the base rent for months five through nine and will not have to pay base rent for the first month as well as months three and four. Additionally, Abacus will pay to the Company a base rent of $27,768 for the seconds’ month rent and an additional $30,317 security deposit. The base rent will increase by three percent on each annual anniversary.

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of 90 days or less at the date of purchase to be cash equivalents. Cash and cash equivalents include cash in readily available checking and money market accounts.
Restricted Cash	Restricted Cash Restricted cash as of December 31, 2016 represents a $200,000 restricted money market account used to secure the standby letter of credit issued in connection with a lease amendment (see Note 5 “Debt”).
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash due to the financial position of the depository institution in which those deposits are held.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of prepaid and other current assets, accounts payable and accrued expenses are reasonable estimates of their fair value because of the short term maturity of these items.
Property and Equipment	Property and Equipment Property and equipment, which primarily consist of office furniture and equipment and computer equipment, are stated at cost and depreciated over the estimated useful lives of the assets (three to five years) using the straight-line method.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets consist primarily of property and equipment. An impairment loss is recorded if and when events and circumstances indicate that assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. While the Company's current and historical operating losses and negative cash flows are indicators of impairment, management believes that future cash flows to be received support the carrying value of its long-lived assets and, accordingly, has not recognized any impairment losses since inception.
Research and Development Costs	Research and Development Costs Research and development expenses consist primarily of salaries and related overhead expenses; fees paid to consultants and contract research organizations; costs related to acquiring and manufacturing clinical trial materials; and costs related to compliance with regulatory requirements. All research and development costs are charged to expense as incurred.
Income Taxes	Income Taxes The Company uses the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Valuation allowances are recorded when the realizability of such deferred tax assets is not more likely than not. The guidance on accounting for uncertainty in income taxes prescribes a recognition threshold and measurement attribute criteria for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s policy is to recognize interest expense and penalties related to income tax matters as a component of income tax expense. During 2016 and 2015, the Company had not recognized interest and penalties in the balance sheets or statements of operations. The Company is subject to taxation in the U.S. and state jurisdictions. The Company’s tax years from inception are subject to examination by the United States and California authorities due to the carryforwards of unutilized net operating losses (NOLs) and research and development credits.
Share-Based Compensation	Share-Based Compensation Share-based compensation for the Company includes amortization related to all stock options, restricted stock awards and shares issued under the employee stock purchase plan, based on the grant-date fair value. The fair value of each option and restricted stock award is estimated on the date of grant using the Black-Scholes option pricing model. The expected life of the awards is based on the simplified method described in SEC Staff Accounting Bulletin No. 107. The expected volatility assumption is based upon the historical volatility of a number of publicly traded companies in similar stages of clinical development. The risk-free interest rate is based on the yield of U.S. Treasury bills with a life that approximates the expected life of the awards. The Company recognizes share-based compensation on a straight-line basis over the vesting term of the options. Option grants to non-employees are valued at fair value and are expensed over the period services are provided. These options are subject to periodic revaluation to reflect the current fair value at each reporting period until the non-employee completes the performance obligation or the date on which a performance commitment is reached. During the year ended December 31, 2016, there were 250,000 shares issued to non-employee consultants. There was no non-cash compensation to consultants for the years ended December 31, 2015 and 2014.
Net Loss per Share	Net Loss per Share Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common shares and common share equivalents outstanding during the period. Common stock equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities, which include common stock warrants and outstanding stock options under the stock option plan, have been excluded from the computation of diluted net loss per share as they would be anti-dilutive. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company’s net loss position. The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because to do so would be anti-dilutive. December 31, 2016 December 31, 2015 December 31, 2014 Warrants for common stock 71,257 71,257 71,257 Common stock options and restricted stock awards issued and outstanding 871,203 1,363,027 1,198,830 942,460 1,434,284 1,270,087
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (the “FASB) i In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments. This pronouncement gives guidance to clarify how certain cash receipts and payments should be presented and classified in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the timing of adoption of this guidance and the impact of the adoption of this guidance on its financial statements. In March 2016, the FASB issued ASU 2016-09 (“ASU 2016-09”), Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies several aspects of the accounting for employee share-based payments, including accounting for income taxes, forfeitures, statutory tax withholding requirements, and classification on the statement of cash flows. The amendments in this ASU are effective for annual periods beginning after December 15, 2016. Early adoption is permitted. The Company is evaluating the impact of adoption on its financial statements. In February 2016, the FASB issued ASU 2016-02 (“ASU 2016-02”), Leases. ASU 2016-02 requires that lessees recognize assets and liabilities for the rights and obligations for leases with a lease term of more than one year. The amendments in this ASU are effective for annual periods ending after December 15, 2018. Early adoption is permitted. The Company is evaluating the impact of adoption on its financial statements. In August 2014, the FASB issued ASU 2014-15 (“ASU 2014-15”), Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under the new guidance, management is required to assess an entity’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The provisions of this standard are effective for annual periods ending after December 31, 2016, and for annual and interim periods thereafter. We adopted this guidance for the year ended December 31, 2016 and management believes that our existing cash and cash equivalents will be sufficient to fund our operations into the second quarter 2018.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Outstanding Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share	The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because to do so would be anti-dilutive. December 31, 2016 December 31, 2015 December 31, 2014 Warrants for common stock 71,257 71,257 71,257 Common stock options and restricted stock awards issued and outstanding 871,203 1,363,027 1,198,830 942,460 1,434,284 1,270,087

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and 2015 are as follows: Fair Value Measurements at Reporting Date Using Balance as of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Money market fund (1) $ 11,477,852 $ 11,477,852 $ — $ — Total assets $ 11,477,852 $ 11,477,852 $ — $ — (1) Included as a component of cash and cash equivalents on accompanying balance sheet. Fair Value Measurements at Reporting Date Using Balance as of December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Money market fund (1) $ 36,752,200 $ 36,752,200 $ — $ — Total assets $ 36,752,200 $ 36,752,200 $ — $ — (1) Included as a component of cash and cash equivalents on accompanying balance sheet.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property Plant And Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consist of the following: December 31, 2016 2015 Office furniture and equipment $ 254,049 $ 279,547 Less accumulated depreciation and amortization (144,729 ) (93,175 ) $ 109,320 $ 186,372

Convertible Preferred Stock a21

Convertible Preferred Stock and Stockholders Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Summary of Stock Option and Restricted Stock Award Transactions	The following table summarizes stock option and restricted stock award transactions under the 2014 Plan during the years ended December 31, 2016, December 2015 and 2014: Options Outstanding Weighted Average Exercise Price Weighted Average Contractual Life — Years Total Intrinsic Value Outstanding at December 31, 2013 368,566 $ 1.59 6.2 Granted 906,752 $ 1.68 Exercised (54,920 ) $ 1.39 Forfeited (21,568 ) $ 1.33 Outstanding at December 31, 2014 1,198,830 $ 1.68 8.3 $ 10,489,128 Granted 400,719 $ 7.28 Exercised (97,348 ) $ 0.99 $ 767,354 Forfeited (139,174 ) $ 4.49 Outstanding at December 31, 2015 1,363,027 $ 3.09 7.9 $ 244,998 Granted 563,856 $ 1.09 Exercised (78,480 ) $ 0.43 $ 37,646 Forfeited (977,200 ) $ 2.27 Outstanding and exercisable at December 31, 2016 871,203 $ 2.95 8.6 $ 18,363 Vested and options expected to vest at December 31, 2016 840,403 $ 3.00 8.6 $ 15,934
Schedule of Estimated Fair Value of Option Award Granted Determined Using Black-Scholes Option-Pricing Valuation Model	The estimated fair value of each option award granted was determined on the date of grant using the Black-Scholes option-pricing valuation model with the following weighted-average assumptions for options grants. Year Ended December 31, 2016 2015 2014 Weighted Average Assumptions: Risk-free interest rate 1.61 % 1.69 % 1.85 % Expected dividend yield 0 % 0 % 0 % Expected volatility 44.89 % 43.72 % 87.00 % Expected term (in years) 5.4 5.8 6.0
Summary of Recognized Non-Cash Share-Based Compensation Expense	The Company recognized non-cash share-based compensation expense related to its ESPP, restricted stock awards and stock options granted to employees and directors in its research and development and its general and administrative functions as follows: Year Ended December 31, 2016 2015 2014 Research and development $ 163,996 $ 410,099 $ 235,867 General and administrative 918,869 974,682 377,085 $ 1,082,865 $ 1,384,781 $ 612,952
Summary of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance is as follows: December 31, 2016 December 31, 2015 Warrants issued and outstanding 71,257 71,257 Stock options and restricted stock awards issued and outstanding 871,203 1,363,027 Authorized for future option grants 2,276,079 1,312,734 Employee stock purchase plan 436,175 298,675 3,654,714 3,045,693
ESPP
Schedule of Estimated Fair Value of Option Award Granted Determined Using Black-Scholes Option-Pricing Valuation Model	The weighted average assumptions used to estimate the fair value of shares issued under the ESPP in the years ended December 31, 2015 and 2014 using the Black-Scholes option pricing model were as follows: For the Year Ended 2015 2014 Weighted Average Assumptions: Risk-free interest rate 0.39 % 0.34 % Expected dividend yield 0 % 0 % Expected volatility 45.13 % 45.43 % Expected term (in years) 1.23 1.27

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Summary of Components of Deferred Tax Assets	Significant components of the Company's deferred tax assets for federal and state income taxes at December 31, 2016 and 2015 are shown below. A valuation allowance has been established as realization of such deferred tax assets is uncertain. 2016 2015 Deferred tax assets: Accrued compensation 46,000 138,000 Non-qualified Stock Options 173,000 349,000 Other, net 34,000 106,000 Total deferred tax assets 253,000 593,000 Valuation allowance (253,000 ) (593,000 ) $ — $ —
Summary of Reconciliation of Income Tax Expense	A reconciliation of income tax expense as compared to the tax expense calculated by applying the statutory federal and state tax rate to income before taxes for the years ended December 31 is as follows: 2016 2015 2014 Income tax at statutory rates 39.8 % 39.8 % 40.0 % Warrant liability remeasurement 0.0 % 0.0 % (3.0 %) NOL not recorded due to 382 limitations (36.7 %) (39.3 %) (34.0 %) Other (3.1 %) (0.5 %) (3.0 %) Total tax expense 0.0 % 0.0 % 0.0 %

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments	The following table summarizes the minimum lease payments under this commitment. 2017 $ 395,520 2018 410,850 2019 431,508 2020 109,293 2021 and thereafter — Total $ 1,347,171

Organization and Basis of Pre24

Organization and Basis of Presentation - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Organization And Basis Of Presentation [Line Items]
Accumulated deficit	$ (125,850,355)	$ (112,831,757)
Cash and cash equivalents	$ 11,477,852	$ 37,748,603	$ 75,947,516	$ 4,364,007
DELAWARE
Organization And Basis Of Presentation [Line Items]
Date of incorporation	Feb. 1, 2007

Summary of Significant Accoun25

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary Of Significant Accounting Policies [Line Items]
Restricted cash	$ 200,000	$ 200,000
Impairment of long-lived assets	0
Interest and penalties related to income tax	0	0
Non-cash compensation	$ 1,082,869	1,578,279	$ 612,952
Non-Employee Consultants
Summary Of Significant Accounting Policies [Line Items]
Shares issued during period	250,000
Consultants
Summary Of Significant Accounting Policies [Line Items]
Non-cash compensation		$ 0	$ 0
Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	5 years

Summary of Significant Accoun26

Summary of Significant Accounting Policies - Summary of Outstanding Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	942,460	1,434,284	1,270,087
Warrants for Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	71,257	71,257	71,257
Common Stock Options and Restricted Stock Awards Issued and Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	871,203	1,363,027	1,198,830

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	$ 11,477,852	$ 36,752,200
Money market fund
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	11,477,852	36,752,200
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	11,477,852	36,752,200
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market fund
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	$ 11,477,852	$ 36,752,200

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Office furniture and equipment	$ 254,049	$ 279,547
Less accumulated depreciation and amortization	(144,729)	(93,175)
Property and equipment, net	$ 109,320	$ 186,372

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 69,094	$ 58,425	$ 17,669
Furniture and Equipment
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 69,094	$ 58,425	$ 17,669

Debt - Additional Information (

Debt - Additional Information (Details)	Sep. 23, 2016USD ($)	Sep. 30, 2016USD ($)	Mar. 31, 2016USD ($)$ / sharesshares	Oct. 31, 2014USD ($)	Jun. 30, 2014USD ($)Tranche$ / sharesshares	Feb. 28, 2010USD ($)$ / sharesshares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2016	Jan. 31, 2015USD ($)
Debt Instrument [Line Items]
Interest expense							$ 1,035,763	$ 1,133,987	$ 374,891
Prepayment of outstanding loan carrying amount							$ 9,514,058
Stand-by Letter of Credit | LJ Gateway, LLC
Debt Instrument [Line Items]
Line of credit											$ 200,000
Line of credit facility, expiration date							2020-05
2010 Loan and Security Agreement | Silicon Valley Bank
Debt Instrument [Line Items]
Line of credit facility collateralized						$ 3,750,000
Warrants issued and outstanding | shares						24,419
Warrant exercise price per share | $ / shares						$ 9.90
Warrant expiration period from date of issuance						10 years
Debt instrument, interest rate					7.78%
Interest expense									4,186
2010 Loan and Security Agreement | Silicon Valley Bank | Secured Debt
Debt Instrument [Line Items]
Treasury floor rate					8.00%
2010 Loan and Security Agreement | Silicon Valley Bank | Series B Convertible Preferred Stock
Debt Instrument [Line Items]
Warrants issued in connection with debt | shares						64,865
2010 Loan and Security Agreement | Silicon Valley Bank | Series C Convertible Preferred Stock
Debt Instrument [Line Items]
Warrants issued in connection with debt | shares						75,000
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc
Debt Instrument [Line Items]
Interest expense							$ 1,035,763	$ 1,133,987	$ 374,891
Maximum borrowing capacity					$ 10,000,000
Number of tranches | Tranche					2
Amount borrowed under loan agreement				$ 6,000,000	$ 4,000,000
Debt discount			$ 52,400		$ 133,000
Prepayment of outstanding loan carrying amount		$ 4,000,000	5,500,000
Prepayment fees		$ 120,000	$ 110,000
End of term payment	$ 300,000
Loan agreement terminated date							Sep. 23, 2016
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc | Scenario One
Debt Instrument [Line Items]
Interest rate on loan										9.00%
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc | Scenario Two
Debt Instrument [Line Items]
Debt Instrument, description of variable rate basis							From June 2014 through payoff in September 2016, the Company paid interest equal to the greater of either 9.0%, plus the Prime Rate as reported in The Wall Street Journal, less 3.25% or 9.0%.
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc | Prime Rate | Minimum
Debt Instrument [Line Items]
Percentage deducted from sum of fixed and prime rate										3.25%
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc | Prime Rate | Maximum
Debt Instrument [Line Items]
Percentage deducted from sum of fixed and prime rate										9.00%
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc | Debt Prepayment Fee
Debt Instrument [Line Items]
Interest expense	230,000
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc | Unamortized Term Fee
Debt Instrument [Line Items]
Interest expense	$ 260,000
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc | Warrants
Debt Instrument [Line Items]
Warrants issued and outstanding | shares			46,838		46,838
Warrant exercise price per share | $ / shares			$ 0.62		$ 8.54
Warrant expiration date							Jun. 11, 2024
Debt discount			$ 9,417
Warrant expiration date							2022-09
2014 Loan and Security Agreement | Hercules Technology Growth Capital Inc | Series C Convertible Preferred Stock
Debt Instrument [Line Items]
Warrants issued as percentage of loan amount					4.00%
Fair value of warrants issued					$ 207,429

Convertible Preferred Stock a31

Convertible Preferred Stock and Stockholders' Equity - Additional Information (Details) - USD ($)	Dec. 01, 2015	Dec. 31, 2016	Dec. 31, 2015	Nov. 30, 2014
Class Of Stock [Line Items]
Common stock, par value		$ 0.0001	$ 0.0001
Common stock, shares issued		13,828,496	13,750,016
Shares reserved for future issuance		3,654,714	3,045,693
Percentage of common stock issued and outstanding to increase shares reserved for issuance		4.00%
Shares of common stock reserved for issuance description		This reserve automatically increased on January 1, 2015 and will continue to increase each subsequent anniversary through 2024, by an amount equal to the smaller of (a) 4% of the number of shares of common stock issued and outstanding on the date immediately preceding December 31 and (b) an amount determined by our board of directors. All shares that remained available, expired, or otherwise terminated without having been exercised in full and unvested shares that were forfeited to or repurchased by us under the 2007 Plan were rolled into 2014 Plan.
Weighted average fair value of options granted		$ 0.46	$ 3.14
Weighted average fair value of options vested		$ 1.50
Total cash received upon the exercise of stock options		$ 33,542
Unrecognized compensation cost related to non-vested stock options and restricted stock awards outstanding, net of expected forfeitures		$ 420,339	$ 3,102,234
Weighted-average remaining vesting period		1 year 8 months 12 days	2 years 7 months 6 days
After Tax Payroll Deductions Percent				15.00%
2007 Stock Option Plan
Class Of Stock [Line Items]
Shares reserved for future issuance				1,271,360
2014 Equity Incentive Plan
Class Of Stock [Line Items]
Shares reserved for future issuance				1,000,000
Cantor Fitzgerald
Class Of Stock [Line Items]
Percentage of commission paid to gross sales price	3.00%
Common stock, shares issued		0
Cantor Fitzgerald | Maximum
Class Of Stock [Line Items]
Reimbursement of Legal Fees and Disbursements	$ 50,000
Controlled Equity Offering Sales Agreement | Cantor Fitzgerald
Class Of Stock [Line Items]
Common stock, par value	$ 0.0001
Controlled Equity Offering Sales Agreement | Cantor Fitzgerald | Maximum
Class Of Stock [Line Items]
Aggregate offering price	$ 20,000,000
Employee Stock Purchase Plan
Class Of Stock [Line Items]
Shares reserved for future issuance				170,000
Shares reserved for future issuance		436,175	298,675
Additional shares authorized (as a percent)				1.00%
Stock issued during period, shares		0

Convertible Preferred Stock a32

Convertible Preferred Stock and Stockholders' Equity - Summary of Stock Option and Restricted Stock Award Transactions (Details) - 2014 Equity Incentive Plan - Stock Options and Restricted Stock - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding beginning of period	1,363,027	1,198,830	368,566
Options Granted	563,856	400,719	906,752
Options Exercised	(78,480)	(97,348)	(54,920)
Options Forfeited	(977,200)	(139,174)	(21,568)
Options Outstanding at end of period	871,203	1,363,027	1,198,830	368,566
Options Vested and options expected to vest at end of period	840,403
Weighted Average Exercise Price, Outstanding at beginning of period	$ 3.09	$ 1.68	$ 1.59
Weighted Average Exercise Price, Granted	1.09	7.28	1.68
Weighted Average Exercise Price, Exercised	0.43	0.99	1.39
Weighted Average Exercise Price, Forfeited	2.27	4.49	1.33
Weighted Average Exercise Price, Outstanding at end of period	2.95	$ 3.09	$ 1.68	$ 1.59
Weighted Average Exercise Price Vested and options expected to vest at end of period	$ 3
Weighted Average Contractual Life, Outstanding	8 years 7 months 6 days	7 years 10 months 24 days	8 years 3 months 18 days	6 years 2 months 12 days
Weighted Average Contractual Life, Vested and options expected to vest at end of period	8 years 7 months 6 days
Total Intrinsic Value, Exercised	$ 37,646	$ 767,354
Total Intrinsic Value, Outstanding at end of period	18,363	$ 244,998	$ 10,489,128
Total Intrinsic Value, Vested and options expected to vest	$ 15,934

Convertible Preferred Stock a33

Convertible Preferred Stock and Stockholders' Equity - Schedule of Estimated Fair Value of Option Award Granted Determined Using Black-Scholes Option-Pricing Valuation Model (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	1.61%	1.69%	1.85%
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	44.89%	43.72%	87.00%
Expected term (in years)	5 years 4 months 24 days	5 years 9 months 18 days	6 years
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate		0.39%	0.34%
Expected dividend yield		0.00%	0.00%
Expected volatility		45.13%	45.43%
Expected term (in years)		1 year 2 months 23 days	1 year 3 months 7 days

Convertible Preferred Stock a34

Convertible Preferred Stock and Stockholders' Equity - Summary of Recognized Non-Cash Share-Based Compensation Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 1,082,865	$ 1,384,781	$ 612,952
Research And Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	163,996	410,099	235,867
General And Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 918,869	$ 974,682	$ 377,085

Convertible Preferred Stock a35

Convertible Preferred Stock and Stockholders' Equity - Summary of Common Stock Reserved for Future Issuance (Details) - shares	Dec. 31, 2016	Dec. 31, 2015
Common Stock Reserved For Future Issuance [Line Items]
Total common stock reserved for future issuance	3,654,714	3,045,693
Authorized for future option grants	2,276,079	1,312,734
Warrants issued and outstanding
Common Stock Reserved For Future Issuance [Line Items]
Total common stock reserved for future issuance	71,257	71,257
Stock options and restricted stock awards issued and outstanding
Common Stock Reserved For Future Issuance [Line Items]
Total common stock reserved for future issuance	871,203	1,363,027
Employee Stock Purchase Plan
Common Stock Reserved For Future Issuance [Line Items]
Total common stock reserved for future issuance	436,175	298,675

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Taxes [Line Items]
Unrecognized tax benefits	$ 0
Income tax expense	$ 0	$ 0
Income tax examination, Description	The Company files income tax returns in the United States and California. The Company currently has no years under examination by any jurisdiction; however, the Company is subject to income tax examination by federal and state for years beginning in 2013 and 2012, respectively. However, to the extent allowed by law, the taxing authorities may have the right to examine prior periods where NOLs and tax credits were generated and carried forward, and make adjustment up to the amount of the carryforwards. The Company does not have any unrecognized tax benefits as of December 31, 2016 and does not anticipate that the amount of unrecognized tax benefits will significantly change within the next twelve months. The Company has not recognized interest or penalties in its consolidated statements of operations and comprehensive loss since inception.
Accrued interest and/or penalties	$ 0	$ 0
Minimum
Income Taxes [Line Items]
Realized percentage of tax position measured from benefit	50.00%
Federal
Income Taxes [Line Items]
Net operating loss (NOL) carryforwards	$ 119,242,000
Net operating loss carryforwards expiration year	2,027
Deferred tax asset, operating losses	$ 44,276,000
Deferred tax asset, research and development credit	5,534,000
Federal | Research Tax Credit
Income Taxes [Line Items]
Research tax credit carryforwards	$ 3,803,000
Tax credit carryforward expiration year	2,027
State
Income Taxes [Line Items]
Deferred tax asset, operating losses	$ 44,276,000
Deferred tax asset, research and development credit	5,534,000
State | Research Tax Credit
Income Taxes [Line Items]
Research tax credit carryforwards	$ 2,623,000
Tax credit carryforward, description	The California research credit will carry forward indefinitely until utilized.
State | California
Income Taxes [Line Items]
Net operating loss (NOL) carryforwards	$ 63,992,000
Net operating loss carryforwards expiration year	2,017

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Accrued compensation	$ 46,000	$ 138,000
Non-qualified Stock Options	173,000	349,000
Other, net	34,000	106,000
Total deferred tax assets	253,000	593,000
Valuation allowance	$ (253,000)	$ (593,000)

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Income Tax Expense (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income tax at statutory rates	39.80%	39.80%	40.00%
Warrant liability remeasurement	(0.00%)	(0.00%)	(3.00%)
NOL not recorded due to 382 limitations	(36.70%)	(39.30%)	(34.00%)
Other	(3.10%)	(0.50%)	(3.00%)
Total tax expense	0.00%	0.00%	0.00%

Commitments - Additional Inform

Commitments - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments And Contingencies Disclosure [Abstract]
Non-cancelable operating lease agreement date	Jan. 20, 2015
Lease expiration period	2020-03
Rent expense	$ 429,927	$ 388,997	$ 228,281

Commitments - Summarized minimu

Commitments - Summarized minimum lease payments (Details)	Dec. 31, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
2,017	$ 395,520
2,018	410,850
2,019	431,508
2,020	109,293
Future minimum lease payments under operating leases	$ 1,347,171

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)	Feb. 13, 2017USD ($)	Mar. 31, 2017USD ($)ft²
Subsequent Event | LJ Gateway Office LLC | New Premises
Subsequent Event [Line Items]
Monthly base rent	$ 10,203
Scenario Forecast | LJ Gateway Office LLC | New Premises
Subsequent Event [Line Items]
Lease amendment, additional space | ft²		3,580
Scenario Forecast | Abacus Data Systems, Inc | Original Premises
Subsequent Event [Line Items]
Base rent discount for months five through nine		50.00%
Base rent for month second		$ 27,768
Base rent for months first, three and four		$ 0
Percentage of annual increase of monthly base rent		3.00%
Additional security deposit		$ 30,317