CRISPR Therapeutics (CRSP) 10-Q 10 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 07, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	CRSP
Entity Registrant Name	CRISPR THERAPEUTICS AG
Entity Central Index Key	1,674,416
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		40,591,669

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash	$ 272,264	$ 315,520
Accounts receivable, including related party amounts of $1,340 and $752 as of June 30, 2017 and December 31, 2016, respectively	6,814	3,157
Prepaid expenses and other current assets including related party amounts of $1,141 and $0 as of June 30, 2017 and December 31, 2016, respectively	2,207	1,511
Total current assets	281,285	320,188
Property and equipment, net	19,927	21,027
Intangible assets, net	372	399
Restricted cash	3,154	3,150
Other non-current assets	237	198
Total assets	304,975	344,962
Current liabilities:
Accounts payable	2,559	4,569
Accrued expenses, including related party amounts of $305 and $537 as of June 30, 2017 and December 31, 2016, respectively	11,888	16,320
Accrued tax liabilities	272	23
Deferred rent	1,027	1,027
Other current liabilities	68	59
Total current liabilities	15,814	21,998
Deferred revenue, including related party amounts of $284 and $527 as of June 30, 2017 and December 31, 2016, respectively	79,232	77,646
Deferred rent non-current	11,928	12,283
Other non-current liabilities	198	189
Total liabilities	107,172	112,116
Commitments and contingencies (Note 6)
Shareholders' equity:
Common shares, CHF 0.03 par value, X and 40,253,674 shares authorized at June 30, 2017 and December 31, 2016, respectively, X and 40,164,307 shares issued at June 30, 2017 and December 31, 2016, respectively, X and 39,719,434 shares outstanding at June 30, 2017 and December 31, 2016, respectively, X and 15,325,607 shares in conditional capital at June 30, 2017 and December 31, 2016, respectively	1,226	1,216
Treasury shares, at cost, 444,873 shares at June 30, 2017 and December 31, 2016, respectively	0	0
Additional paid-in capital	297,446	288,739
Accumulated deficit	(100,873)	(57,083)
Accumulated other comprehensive income (loss)	4	(26)
Total shareholders' equity	197,803	232,846
Total liabilities and shareholders' equity	$ 304,975	$ 344,962

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) $ in Thousands	Jun. 30, 2017USD ($)shares	Dec. 31, 2016USD ($)shares
Statement of Financial Position [Abstract]
Accounts receivable, related party amount, current | $	$ 1,340	$ 752
Prepaid expenses and other current assets, related party amount | $	1,141	0
Accrued expenses related party amount, current | $	305	537
Deferred revenue related party amount | $	$ 284	$ 527
Common stock, shares authorized	40,556,891	40,253,674
Common stock, shares issued	40,484,288	40,164,307
Common stock, shares outstanding	40,039,415	39,719,434
Common stock, conditional capital	17,079,353	15,325,607
Treasury stock, shares	444,873	444,873

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations and Comprehensive Loss - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Collaboration revenue	[1]	$ 3,582	$ 795	$ 6,285	$ 1,271
Operating expenses:
Research and development	[2]	17,120	8,602	31,925	14,614
General and administrative		7,768	8,751	16,410	14,867
Total operating expenses		24,888	17,353	48,335	29,481
Loss from operations		(21,306)	(16,558)	(42,050)	(28,210)
Other (expense) income:
Interest expense					(8,050)
Loss from equity method investment		(505)	(686)	(951)	(686)
Gain on extinguishment of convertible loan					11,482
Other (expense) income, net		(161)	80	(167)	(66)
Total other (expense) income, net		(666)	(606)	(1,118)	2,680
Net loss before income taxes		(21,972)	(17,164)	(43,168)	(25,530)
Provision for income taxes		(343)	0	(622)	(76)
Net loss		(22,315)	(17,164)	(43,790)	(25,606)
Foreign currency translation adjustment		6	(13)	30	(17)
Comprehensive loss		(22,309)	(17,177)	(43,760)	(25,623)
Reconciliation of net loss to net loss attributable to common shareholders:
Net loss		(22,315)	(17,164)	(43,790)	(25,606)
Loss attributable to noncontrolling interest			7		10
Net loss attributable to common shareholders		$ (22,315)	$ (17,157)	$ (43,790)	$ (25,596)
Net loss per share attributable to common shareholders-basic and diluted		$ (0.56)	$ (3.15)	$ (1.10)	$ (4.66)
Weighted-average common shares outstanding used in net loss per share attributable to common shareholders-basic and diluted		39,895,938	5,448,855	39,811,412	5,488,467
[1]	Including the following revenue from a related party, see Note 11:
[2]	Including the following research and development expense with a related party, See Note 11:

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Income Statement [Abstract]
Revenue from related party	$ 1,475	$ 2,639
Research and development expense with a related party	$ 1,355	$ 2,491

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities:
Net loss	$ (43,790)	$ (25,606)
Reconciliation of net loss to net cash used in operating activities:
Depreciation and amortization	1,426	277
Equity-based compensation	7,026	4,523
Non-cash interest		8,050
Loss from disposal of property and equipment		28
Unrealized foreign currency remeasurement loss	(9)	14
Gain on extinguishment of convertible loan		(11,482)
Loss from equity method investment	951	686
Changes in:
Restricted cash	(4)	(2,453)
Accounts receivable	(3,657)	(1,015)
Prepaid expenses and other assets	(736)	(2,573)
Accounts payable and accrued expenses	(2,103)	4,988
Deferred revenue	1,586	710
Deferred rent	(355)	184
Other liabilities, net	278	51
Net cash used in operating activities	(39,387)	(23,618)
Investing activities:
Purchase of property and equipment	(4,615)	(1,279)
Proceeds from contribution of intellectual property to equity method investee		20,000
Cash investment in equity method investee		(100)
Net cash (used in) provided by investing activities	(4,615)	18,621
Financing activities:
Proceeds from issuance of convertible loans		35,000
Proceeds from exercise of options	715
Net cash provided by financing activities	715	95,925
Effect of exchange rate changes on cash	31	(40)
(Decrease) increase in cash	(43,256)	90,888
Cash, beginning of period	315,520	155,961
Cash, end of period	272,264	246,849
Supplemental disclosure of non-cash investing and financing activities
Property and equipment purchases in accounts payable and accrued expenses	$ 2,697	47
Conversion of Vertex convertible loan and accrued interest		61,929
Noncash contribution of intellectual property to Casebia LLP		36,372
Issuance costs for public offering in accounts payable and accrued expenses		1,810
Series A-3 Redeemable Convertible Preferred Shares [Member]
Financing activities:
Proceeds from issuance of preferred shares		22,850
Series B Redeemable Convertible Preferred Shares [Member]
Financing activities:
Proceeds from issuance of preferred shares		$ 38,075

Organization and Operations

Organization and Operations	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	1. Organization and Operations The Company CRISPR Therapeutics AG (“CRISPR” or the “Company”) was formed on October 28, 2013 in Basel, Switzerland. The Company was established to translate CRISPR/Cas9, a genome editing technology, into transformative gene-based medicines for the treatment of serious human diseases. The foundational intellectual property underlying the Company’s operations was licensed to the Company and its subsidiaries in April 2014. The Company devotes substantially all of its efforts to product research and development activities, initial market development and raising capital. The Company’s principal offices are located in Zug, Switzerland and its principal research operations are in Cambridge, Massachusetts. On January 23, 2014, the founders of the Company formed TRACR Hematology Limited (“TRACR”), wholly-owned subsidiary of the Company, in the United Kingdom, to further the development of the CRISPR/Cas9 technology into medicines for the treatment of blood-borne illnesses. As the Company was funding and managing TRACR’s operations in 2014, it has been consolidated by the Company from the date that the Company established a variable interest in TRACR in April 2014. In March 2015, the Company acquired 82.1% of the outstanding equity of TRACR in a share exchange transaction. Concurrent with its initial public offering (“IPO”) in October 2016, the Company acquired the outstanding non-controlling On February 7, 2014, the Company formed a wholly-owned subsidiary in the United Kingdom, CRISPR Therapeutics Limited (“CRISPR Ltd.”), and on February 16, 2015, the Company formed a wholly-owned subsidiary in the United States, CRISPR Therapeutics, Inc. (“CRISPR Inc.”), as its principal research and development operation. The Company is subject to risks common to companies in the biotechnology industry, including but not limited to, risks of failure of preclinical studies and clinical trials, the need to obtain marketing approval for any drug product candidate that it may identify and develop, the need to successfully commercialize and gain market acceptance of its product candidates, dependence on key personnel, protection of proprietary technology, compliance with government regulations, development by competitors of technological innovations and ability to transition from pilot-scale manufacturing to large-scale production of products. The Company had an accumulated deficit of $100.9 million as of June 30, 2017 and has financed its operations to date from proceeds obtained from its IPO, a series of preferred shares and convertible loan issuances, and upfront fees received under its collaboration and joint venture arrangements. The Company will require substantial additional capital to fund its research and development and ongoing operating expenses. Liquidity The Company expects its cash of $272.3 million at June 30, 2017 to be sufficient to fund its current operating plan for at least the next 24 months. Thereafter, the Company may be required to obtain additional funding. There can be no assurance that the Company will be able to obtain additional debt or equity financing or generate product revenue or revenues from collaborative partners, on terms acceptable to the Company, on a timely basis or at all. The failure of the Company to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Company’s business, results of operations, and financial condition.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2, “Summary of Significant Accounting Policies,” in the Company’s Annual Report on Form 10-K Unaudited Interim Financial Information The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report. Basis of Presentation and Use of Estimates The accompanying condensed consolidated financial statements have been prepared in conformity with GAAP, and include the accounts of (i) the Company, and (ii) its wholly-owned subsidiaries, CRISPR Ltd., CRISPR Inc., and TRACR. All intercompany accounts and transactions have been eliminated. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”). The Company accounts for its 50% investment in Casebia Therapeutics LLC (“Casebia”) under the equity method of accounting. See Note 7 for further details. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not limited to, equity-based compensation expense, revenue recognition, equity method investments, fair value of intangible assets, the provision for or benefit from income taxes and reported amounts of research and development expenses during the period. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. The consolidated statements reflect all adjustments which are of a normal recurring nature necessary for presentation. Actual results may differ from those estimates or assumptions. Net Loss Per Share Attributable to Common Shareholders Basic net income (loss) per share is calculated by dividing net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to common shareholders by the weighted-average number of common equivalent shares outstanding for the period, including any dilutive effect from outstanding stock options and warrants using the treasury stock method. The following common share equivalents, presented on an as converted basis, were excluded from the calculation of net loss per share for the periods presented, due to their anti-dilutive effect (in common stock equivalent shares): As of June 30, December 31, Outstanding options 5,636,786 4,535,371 Unvested unissued restricted common shares 72,603 89,367 Total 5,709,389 4,624,738 Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers 2014-09”). 2015-14, Revenue from Contracts with Customers 2014-09; No. 2016-08, Revenue from Contracts with Customers Principal versus Agent Considerations 2014-09; No. 2016-10, Revenue from Contracts with Customers Identifying Performance Obligations and Licensing 2014-09; No. 2016-12, Revenue from Contracts with Customers Narrow-Scope Improvements and Practical Expedients 2014-09 The Revenue ASUs noted above provide an accounting standard for a single comprehensive model for use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The accounting standard is effective for interim and annual periods beginning after December 15, 2017, with an option to early adopt for interim and annual periods beginning after December 15, 2016. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (the full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Company currently anticipates adopting the new standard effective January 1, 2018 under the full retrospective method. The Company is in the process of determining the impact of the Revenue ASUs on its financial statements as it relates to their revenue generating collaboration agreements. The Company continues to make progress on the assessment of its two collaboration agreements and is in the process of developing its revenue recognition policy under the new standard. In February 2016, the FASB issued ASU No. 2016-02, Leases 2016-02”), 2016-02 In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718) (“ASU 2016-09”). The guidance changes how companies account for certain aspects of equity-based payments to employees. Entities will be required to recognize income tax effects of awards in the income statement when the awards vest or are settled. The guidance also allows an employer to repurchase more of an employee’s shares than it can under current guidance for tax withholding purposes providing for withholding at the employee’s maximum rate as opposed to the minimum rate without triggering liability accounting and to make a policy election to account for forfeitures as they occur. The Company adopted the new standard January 1, 2017. The Company made an accounting policy election to account for the impact of pre-vesting forfeitures as they occur rather than applying an estimated forfeiture rate, as previously required. Adoption did not materially impact the consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes Intra-Entity Transfers of Assets Other Than Inventory 2016-16”), In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows Restricted Cash 2016-18”). 2016-18 2016-18 In January 2017, the FASB issued ASU No. 2017-01, Business Combinations 2017-01”). 2017-01

Property and Equipment, net

Property and Equipment, net	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment, net	3. Property and Equipment, net Property and equipment, net, consists of the following (in thousands): As of June 30, December 31, 2017 2016 Computer equipment and software $ 285 $ 110 Furniture, fixtures, and other 2,079 2,044 Laboratory equipment 5,985 2,970 Leasehold improvements 13,742 15,780 Construction work in process 176 1,065 22,267 21,969 Accumulated Depreciation (2,340 ) (942 ) Property and equipment, net $ 19,927 $ 21,027 Depreciation expense for the three and six months ended June 30, 2017 was $0.7 million and $1.4 million respectively. Depreciation expense for the three and six months ended June 30, 2016 was $0.1 million and $0.2 million, respectively.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses	4. Accrued Expenses Accrued expenses consist of the following (in thousands): As of June 30, December 31, Payroll and employee-related costs $ 3,567 $ 2,585 Research costs 1,561 996 Licensing fees 783 492 Professional fees 1,892 2,715 Intellectual property costs 1,255 3,372 Accrued property and equipment 2,663 5,081 Other 167 1,079 Total $ 11,888 $ 16,320

Convertible Loans

Convertible Loans	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Convertible Loans	5. Convertible Loans 2015 Convertible Loan Agreement with Vertex and certain existing shareholders On October 26, 2015, the Company entered into a convertible loan agreement with Vertex Pharmaceuticals Incorporated (“Vertex”) and certain existing shareholders (the “Vertex Convertible Loan”) under which the Company borrowed $38.2 million. The Vertex Convertible Loan accrued interest at 2.5% per annum and had an initial maturity date of April 26, 2016 subject to acceleration upon the occurrence of certain conditions. The Vertex Convertible Loan included various embedded conversion, redemption and other features, none of which required separate accounting from the host instrument under ASC Topic 815: Derivatives and Hedging The conversion terms, redemption terms, and other features of the Vertex Convertible Loan are included in the Annual Report. Convertible Loan with Bayer Global Investments B.V. On January 29, 2016, concurrent with the execution of an agreement to establish a Joint Venture (“JV”) with Bayer HealthCare LLC (“Bayer HealthCare”), the Company entered into a Convertible Loan Agreement (the “Bayer Convertible Loan”) with Bayer Global Investments B.V. (“Bayer BV”) under which the Company borrowed $35.0 million. The Bayer Convertible Loan accrued interest at 2.0% per annum and matured on January 29, 2016. The Bayer Convertible Loan included various embedded conversion, redemption and other features, none of which required separate accounting from the host instrument under ASC 815. The conversion terms, redemption terms, and other features of the Bayer Convertible Loan are included in the Annual Report. Conversion of Convertible Loans to Series B Preferred Shares On January 29, 2016, concurrent with the issuance of the Bayer Convertible Loan, all of the outstanding principal under the $35.0 million Bayer Convertible Loan automatically converted into 2,605,330 Series B Redeemable Convertible Preferred Shares (“Series B Preferred Shares”) at $13.43 per share. The Company determined the fair value of the Bayer Convertible Loan to be $24.5 million based on the fair value of the underlying Series B Preferred Shares that were exchanged as part of the immediate conversion. As the Bayer Convertible Loan was executed in contemplation of the joint venture agreement with Bayer, the Company evaluated the Bayer Convertible Loan as part of one multiple-element arrangement and, using a relative fair value allocation method, allocated $27.0 million of aggregate arrangement consideration to the Bayer Convertible Loan upon issuance. Upon conversion, the Company accreted the Bayer Convertible Loan to its face value of $35.0 million through a charge to interest expense of $8.0 million and converted the $35.0 million to Series B Preferred Shares under the conversion model. The receipt of $35.0 million in proceeds under the Bayer Convertible Loan in exchange for equity securities, combined with the $38.2 million in proceeds from Vertex Convertible Loan, triggered an automatic conversion provision of the Vertex Convertible Loan Agreement. Accordingly, on January 29, 2016, the Vertex Convertible Loan, including loans from existing shareholders, plus accrued interest also converted into 2,859,278 of Series B Preferred Shares at $13.43 per share. The Company determined the fair value of the Vertex Convertible Loan to be $26.9 million based on the fair value of the underlying Series B Preferred Shares that were exchanged as part of the conversion. Upon extinguishment, the Company recorded a gain on extinguishment of $11.5 million for the difference between the carrying value of the debt and the fair value of the Series B Preferred Shares issued to settle the debt under the general extinguishment model.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies License Agreement with StrideBio LLC On April 13, 2017, the Company and its affiliates entered into a development and option agreement with StrideBio LLC (“StrideBio”), to research and develop novel adeno-associated virus capsids. Pursuant to the license agreement, the Company made a one-time upfront payment of $0.5 million to StrideBio, an achieved milestone payment of $0.3 million and is required to pay StrideBio up to $3.0 million upon the achievement of research milestones. Under the agreement, the Company is also contingently obligated to purchase a convertible note in the amount of $0.5 million, which was deemed to be fair value as of the date the investment was executed in the third quarter. The terms of this investment are further disclosed in Note 12. Operating Leases In March 2017, the Company subleased a portion of one research and office facility to a third party effective April 1, 2017. The sublease term is less than the remaining term under the original lease, and as a result, the Company does not believe it has met a cease use date as it may re-enter Litigation The Company licenses a U.S. patent application that is currently subject to interference proceedings declared by the Patent Trial and Appeal Board (“PTAB”) of the U.S. Patent and Trademark Office. Following motions by the parties and other procedural matters, the PTAB concluded in February 2017 that the declared interference should be dismissed because the claim sets of the two parties were not directed to the same patentable invention in accordance with the PTAB’s two-way Under the Invention Management Agreement signed on December 15, 2016, the Company is obligated to share costs related to patent maintenance, defense and prosecution. During the three and six months ended June 30, 2017, the Company incurred $0.5 million and $1.0 million, respectively, in shared costs. During the three and six months ended June 30, 2016, the Company incurred $0.3 million, and $0.8 million, respectively, in shared costs. The Company had accrued legal costs from the cost sharing of $0.8 million and $2.8 million as of June 30, 2017 and December 31, 2016, respectively.

Significant Contracts

Significant Contracts	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Significant Contracts	7. Significant Contracts Intellectual Property Agreements CRISPR Therapeutics AG—Charpentier License Agreement In April 2014, the Company entered into a technology license agreement with Dr. Charpentier pursuant to which the Company licensed certain intellectual property rights under joint ownership from Dr. Charpentier to develop and commercialize products for the treatment or prevention of human diseases other than hemoglobinopathies (“CRISPR—Charpentier License Agreement”). In consideration for the granting of the license, the Company paid Dr. Charpentier an upfront fee of CHF 0.1 million ($0.1 million), and agreed to pay an immaterial annual license maintenance fee if Dr. Charpentier is not otherwise engaged in a service arrangement with the Company. During the years ended December 31, 2016 and 2015, and three months ended June 30, 2017 and 2016, Dr. Charpentier has been in a consulting arrangement with the Company, as such, no annual payments have been made under this provision. Dr. Charpentier is entitled to receive nominal clinical milestone payments. The Company is also obligated to pay Dr. Charpentier a low single digit percentage of sublicensing payments received under any sublicense agreement with a third party. In addition, the Company is also obligated to pay to Dr. Charpentier a low single-digit percentage royalty based on annual net sales of licensed products and licensed services by the Company and its affiliates and sublicensees. During the three and six months ended June 30, 2017, the Company did not record any sublicensing fees due to Dr. Charpentier. During the three and six months ended June 30, 2016, the Company recorded $0 and $0.3 million, respectively, of sublicensing fees due to Dr. Charpentier These expenses were under the terms of the CRISPR—Charpentier License Agreement that was triggered by the execution of the Bayer Agreement (“Bayer Agreement”). TRACR Hematology Limited—Charpentier License Agreement In April 2014, TRACR entered into a technology license agreement (“TRACR—Charpentier License Agreement”) with Dr. Charpentier pursuant to which TRACR licensed certain intellectual property rights under joint ownership from Dr. Charpentier to develop and commercialize products for the treatment or prevention of human diseases related to hemoglobinopathies. In consideration for the granting of the license, Dr. Charpentier is entitled to receive nominal clinical milestone payments. TRACR is also obligated to pay Dr. Charpentier a low single digit percentage of sublicensing payments received under any sublicense agreement with a third party. In addition, TRACR is obligated to pay to Dr. Charpentier low single digit percentage royalties based on annual net sales of licensed products and licensed services by the Company and its affiliates and sublicensees. During the three and six months ended June 30, 2017 and 2016, the Company did not record any sublicensing fees due to Dr. Charpentier under the terms of the TRACR—Charpentier License Agreement. Patent Assignment Agreement In November 2014, the Company entered into a patent assignment agreement (“Patent Assignment Agreement”) with Dr. Charpentier, Dr. Ines Fonfara, and the University of Vienna (collectively, the “Assignors”), pursuant to which the Company received from the assignors all rights, title and interest in and to certain patent rights claimed in the U.S. Patent Application No.61/905,835. In consideration for the assignment of such rights, the Assignors are entitled to receive clinical milestone payments totaling up to €0.3 million (approximately $0.4 million) in the aggregate for the first human therapeutic product. The Company is also obligated to pay to the Assignors low single digit royalties based on annual net sales of certain products and services by the Company and its affiliates and sublicensees. During the three and six months ended June 30, 2017 and 2016, the sublicensing fees due to the Assignors under the terms of the Patent Assignment Agreement that was triggered under the Vertex Collaboration Agreement (the “Vertex Collaboration Agreement”) and by the execution of the Bayer Agreement were immaterial. Collaboration Agreement with Vertex Pharmaceuticals, Incorporated On October 26, 2015, the Company entered into a strategic collaboration, option, and license agreement (“Collaboration Agreement”) with Vertex, focused on the use of CRISPR’s gene editing technology, CRISPR/Cas9, to discover and develop potential new treatments aimed at the underlying genetic causes of human disease. During the three and six months ended June 30, 2017, the Company recognized $2.1 million and $3.6 million of revenue related to the collaboration with Vertex. During the three and six months ended June 30, 2016, the Company recognized $0.8 million and $1.3 million of revenue related to the collaboration with Vertex. Research and development expense incurred by the Company in relation to its performance under the Collaboration Agreement for the three and six months ended June 30, 2017 was $3.3 million and $5.9 million, respectively. Research and development expense incurred by the Company in relation to its performance under the Collaboration Agreement for the three and six months ended June 30, 2016 was $1.6 million and $3.3 million, respectively. As of June 30, 2017, and December 31, 2016, there was $78.9 million and $77.1 million of non-current Joint Venture with Bayer Healthcare LLC On December 19, 2015, the Company entered into an agreement with Bayer HealthCare LLC to establish a joint venture to discover, develop and commercialize new therapeutics to cure blood disorders, blindness, and congenital heart disease. On February 12, 2016, the Company and Bayer HealthCare completed the formation of the joint venture entity, Casebia Therapeutics LLC (“Casebia”). CRISPR contributed its proprietary CRISPR/Cas9 gene editing technology and intellectual property for selected disease indications to Casebia and Bayer HealthCare contributed its protein engineering expertise and relevant disease know-how At June 30, 2017 and December 31, 2016, the value of the Company’s equity method investment in Casebia was zero. During the three and six months ended June 30, 2017, the Company recognized $1.5 million and $2.6 million of revenue, respectively, related to the collaboration with Casebia. During the three and six months ended June 30, 2017, the Company recognized $1.4 million and $2.5 million of research and development expense, respectively, in relation to its performance under the agreement. During the three and six months ended June 30, 2017, the Company recognized $0.5 million and $1.0 million respectively, of stock-based compensation expense related to Casebia employees. During the three and six months ended June 30, 2016, the Company did not recognize any revenue, research and development expense or stock-based compensation expense related to the collaboration with Casebia. Non-current Total operating expenses, and net loss of Casebia for the three and six months ended June 30, 2017 was $9.0 million and $14.6 million, respectively. Total operating expenses, and net loss of Casebia for the three and six months ended June 30, 2016 was $1.0 million and $74.8 million, respectively, which included research and development expenses of $71.4 million for the fair value of the CRISPR license contributed to Casebia in the formation of the JV.

Share Capital

Share Capital	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Share Capital	8. Share Capital The Company had 40,556,891 registered common shares as of June 30, 2017, with a par value of CHF 0.03 per share, which includes 72,603 shares of unvested unissued restricted common stock and 444,873 treasury shares which are legally outstanding but not considered outstanding for accounting purposes. Conditional Capital Reserved for Future Issuance The Company had the following conditional capital reserved for future issuance: As of Conditional Capital June 30, 2017 December 31, 2016 Unvested unissued restricted stock 166,667 166,667 Outstanding stock options 5,636,786 4,535,371 Reserved for future issuance under stock option plans (1) 5,942,974 5,290,643 Shares available for bonds and similar debt instruments 4,919,700 4,919,700 Shares available for employee purchase plans 413,226 413,226 Total 17,079,353 15,325,607 (1) The Company’s Board of Directors approved an increase to the option pool of 2,012,684 options in May 2017.

Equity-based Compensation

Equity-based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-based Compensation	9. Equity-based Compensation The Company uses the straight-line attribution method to recognize stock-based compensation expense for stock options and restricted stock awards. Stock options and restricted stock awards generally vest over four years with 25% vesting on the first anniversary of service commencement and the remaining 75% vesting monthly thereafter. Effective January 1, 2017, the Company adopted ASU 2016-09, pre-vesting Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Research and development $ 1,946 $ 853 $ 3,676 $ 1,491 General and administrative 1,780 2,648 3,350 3,032 Loss from equity method investment 505 — 951 — Total $ 4,231 $ 3,501 $ 7,977 $ 4,523 Grant-Date Fair Value The Company estimated the fair value of each employee and non-employee Six Months Ended June 30, 2017 2016 Employees: Weighted average expected volatility 72.7 % 77.9 % Expected term (in years) 6.0 6.0 Risk free interest rate 1.8 - 2.3 % 1.4 - 1.5 % Expected dividend yield 0.0 % 0.0 % Non-employees: Weighted average expected volatility 83.6 % n/a Expected term (in years) 10.0 n/a Risk free interest rate 2.3 % n/a Expected dividend yield 0.0 % n/a The fair value of the restricted stock awards was determined based on the fair value of the common shares on the grant date. Non-employee marked-to-market Share Based Payment Activity Stock Option Awards The following table summarizes stock option activity for employees and non-employees Stock Weighted- Weighted- Aggregate Outstanding at December 31, 2016 4,535,371 $ 8.38 9.1 $ 53,966 Granted 1,750,048 $ 16.13 Exercised (304,173 ) $ 2.40 Cancelled or forfeited (344,460 ) $ 5.11 Outstanding at June 30, 2017 5,636,786 $ 11.29 9.0 $ 30,510 Exercisable at June 30, 2017 1,319,922 $ 5.94 8.4 $ 13,309 Vested or expected to vest at June 30, 2017 (1) 5,609,286 $ 11.26 9.0 $ 30,467 (1) Represents the number of vested options at June 30, 2017 plus the number of unvested options expected to vest in the future. As of June 30, 2017, total unrecognized compensation expense related to stock options was $35.7 million which the Company expects to recognize over a remaining weighted-average period of 3.2 years. During the six months ended June 30, 2017 and 2016, the Company granted options to purchase 60,000 and 13,333 common shares, respectively, subject to performance-based vesting conditions. As of June 30, 2017, options to purchase 335,372 common shares subject to performance-based vesting conditions were vested, as performance conditions were achieved, and no options to purchase common shares subject to performance-based vesting conditions were deemed probable of vesting. Restricted Stock Awards The following table summarizes restricted stock activity for employees and non-employees Reflected as Reflected as Total Weighted- Unvested restricted common shares as of December 31, 2016 89,367 650,856 740,223 $ 3.84 Vested (16,764 ) (212,075 ) (228,839 ) 4.02 Unvested restricted common shares as of June 30, 2017 72,603 438,781 511,384 $ 3.76 During the six months ended June 30, 2017, the total fair value of vested restricted common shares was $4.2 million. As of June 30, 2017, total unrecognized compensation expense related to unvested restricted common shares was $4.0 million which the Company expects to recognize over a remaining weighted-average period of one year. The Company did not grant any restricted common shares subject to performance-based vesting conditions during the six months ended June 30, 2017. As of June 30, 2017, 50,000 restricted common shares subject to performance-based vesting conditions were vested. During the year ended December 31, 2016, the Company and Fay Corp. transferred 290,400 common shares to a founder, 268,093 of which were subject to vesting conditions with a weighted average grant date fair value of $12.65 per share. The unvested common shares are subject to repurchase by the Company upon termination of the holder’s service relationship with the Company as well as upon certain triggering events such as termination for cause, material breach of agreement and insolvency of the holder. During the three and six months ended June 30, 2017, the Company recognized expense related to these common shares in the amount of $0.2 million and $0.4 million respectively. During the three and six months ended June 30, 2016, the Company recognized expense related to these common shares in the amount of $2.2 million and $2.2 million respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes During the three and six months ended June 30, 2017, the Company recorded an income tax provision of $0.3 million and $0.6 million, respectively, representing an effective tax rate of -1.6%, -1.44%, -0.3%, year-to-date pre-tax more-likely-than-not

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions The Company is a party to intellectual property license agreements with Dr. Charpentier. As of June 30, 2017, and December 31, 2016, the Company owed Dr. Charpentier approximately $0 and $0.5 million, respectively, of sublicense fees primarily related to the Bayer Agreement. During the three and six months ended June 30, 2017, the Company did not record any sublicensing fees due to Dr. Charpentier in research and development expense related to the Bayer Agreement. During the three and six months ended June 30, 2016, the Company recorded sublicensing fees of $0 and $0.3 million, respectively, due to Dr. Charpentier in research and development expense related to the Bayer Agreement. The Company is a party to the JV with Bayer HealthCare. During the three and six months ended June 30, 2017, the Company recognized revenue of $1.5 million, and $2.6 million, respectively, related to the collaboration with Casebia. During the three and six months ended June 30, 2017, the Company recognized research and development expense of $1.4 million and $2.5 million, respectively, related to the performance of services for Casebia. During the three and six months ended June 30, 2016 the Company did not recognize revenue or research and development expenses related to the collaboration with Casebia. As of June 30, 2017, and December 31, 2016, the Company had accounts receivable of $1.3 million and $0.8 million, respectively, other current assets related to receivables associated with shared license research arrangements of $1.1 million and $0, respectively, and deferred revenue of $0.3 million and $0.5 million, respectively, related to Casebia.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events On April 13, 2017, the Company entered into a development and option agreement with StrideBio (Note 6) to research and develop novel adeno-associated virus capsids. Under the agreement, the Company was contingently obligated to purchase a convertible note in the amount of $0.5 million which was deemed to be fair value as of the date the investment was executed in the third quarter. The note was signed on August 1, 2017. The note will be convertible into StrideBio’s preferred stock upon the occurrence of a qualified financing that exceeds $3.0 million, the conversion price of which will be based on the price per share of the qualified financing. Upon conversion, the Company will receive a number of securities equal to the quotient of a fraction, the numerator of which is the total outstanding unpaid amount of principal and accrued interest due under the convertible note on the date of conversion, and the denominator of which is an amount equal to eighty percent (80%) of the lowest price per share at which the StrideBio sells and issues such shares to investors. On August 1, 2018, unless converted, StrideBio will pay the Company the principal amount outstanding, together with simple interest thereon accrued at a rate per annum equal to 8%, from and after the date StrideBio received the convertible note funds.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report.
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The accompanying condensed consolidated financial statements have been prepared in conformity with GAAP, and include the accounts of (i) the Company, and (ii) its wholly-owned subsidiaries, CRISPR Ltd., CRISPR Inc., and TRACR. All intercompany accounts and transactions have been eliminated. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”). The Company accounts for its 50% investment in Casebia Therapeutics LLC (“Casebia”) under the equity method of accounting. See Note 7 for further details. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not limited to, equity-based compensation expense, revenue recognition, equity method investments, fair value of intangible assets, the provision for or benefit from income taxes and reported amounts of research and development expenses during the period. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. The consolidated statements reflect all adjustments which are of a normal recurring nature necessary for presentation. Actual results may differ from those estimates or assumptions.
Net Loss Per Share Attributable to Common Shareholders	Net Loss Per Share Attributable to Common Shareholders Basic net income (loss) per share is calculated by dividing net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to common shareholders by the weighted-average number of common equivalent shares outstanding for the period, including any dilutive effect from outstanding stock options and warrants using the treasury stock method. The following common share equivalents, presented on an as converted basis, were excluded from the calculation of net loss per share for the periods presented, due to their anti-dilutive effect (in common stock equivalent shares): As of June 30, December 31, Outstanding options 5,636,786 4,535,371 Unvested unissued restricted common shares 72,603 89,367 Total 5,709,389 4,624,738
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers 2014-09”). 2015-14, Revenue from Contracts with Customers 2014-09; No. 2016-08, Revenue from Contracts with Customers Principal versus Agent Considerations 2014-09; No. 2016-10, Revenue from Contracts with Customers Identifying Performance Obligations and Licensing 2014-09; No. 2016-12, Revenue from Contracts with Customers Narrow-Scope Improvements and Practical Expedients 2014-09 The Revenue ASUs noted above provide an accounting standard for a single comprehensive model for use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The accounting standard is effective for interim and annual periods beginning after December 15, 2017, with an option to early adopt for interim and annual periods beginning after December 15, 2016. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (the full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Company currently anticipates adopting the new standard effective January 1, 2018 under the full retrospective method. The Company is in the process of determining the impact of the Revenue ASUs on its financial statements as it relates to their revenue generating collaboration agreements. The Company continues to make progress on the assessment of its two collaboration agreements and is in the process of developing its revenue recognition policy under the new standard. In February 2016, the FASB issued ASU No. 2016-02, Leases 2016-02”), 2016-02 In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718) (“ASU 2016-09”). The guidance changes how companies account for certain aspects of equity-based payments to employees. Entities will be required to recognize income tax effects of awards in the income statement when the awards vest or are settled. The guidance also allows an employer to repurchase more of an employee’s shares than it can under current guidance for tax withholding purposes providing for withholding at the employee’s maximum rate as opposed to the minimum rate without triggering liability accounting and to make a policy election to account for forfeitures as they occur. The Company adopted the new standard January 1, 2017. The Company made an accounting policy election to account for the impact of pre-vesting forfeitures as they occur rather than applying an estimated forfeiture rate, as previously required. Adoption did not materially impact the consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes Intra-Entity Transfers of Assets Other Than Inventory 2016-16”), In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows Restricted Cash 2016-18”). 2016-18 2016-18 In January 2017, the FASB issued ASU No. 2017-01, Business Combinations 2017-01”). 2017-01

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share	The following common share equivalents, presented on an as converted basis, were excluded from the calculation of net loss per share for the periods presented, due to their anti-dilutive effect (in common stock equivalent shares): As of June 30, December 31, Outstanding options 5,636,786 4,535,371 Unvested unissued restricted common shares 72,603 89,367 Total 5,709,389 4,624,738

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment, Net	Property and equipment, net, consists of the following (in thousands): As of June 30, December 31, 2017 2016 Computer equipment and software $ 285 $ 110 Furniture, fixtures, and other 2,079 2,044 Laboratory equipment 5,985 2,970 Leasehold improvements 13,742 15,780 Construction work in process 176 1,065 22,267 21,969 Accumulated Depreciation (2,340 ) (942 ) Property and equipment, net $ 19,927 $ 21,027

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2017
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses consist of the following (in thousands): As of June 30, December 31, Payroll and employee-related costs $ 3,567 $ 2,585 Research costs 1,561 996 Licensing fees 783 492 Professional fees 1,892 2,715 Intellectual property costs 1,255 3,372 Accrued property and equipment 2,663 5,081 Other 167 1,079 Total $ 11,888 $ 16,320

Share Capital (Tables)

Share Capital (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Conditional Capital Reserved for Future Issuance	The Company had the following conditional capital reserved for future issuance: As of Conditional Capital June 30, 2017 December 31, 2016 Unvested unissued restricted stock 166,667 166,667 Outstanding stock options 5,636,786 4,535,371 Reserved for future issuance under stock option plans (1) 5,942,974 5,290,643 Shares available for bonds and similar debt instruments 4,919,700 4,919,700 Shares available for employee purchase plans 413,226 413,226 Total 17,079,353 15,325,607 (1) The Company’s Board of Directors approved an increase to the option pool of 2,012,684 options in May 2017.

Equity-based Compensation (Tabl

Equity-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-Based Compensation Expense	The Company uses the straight-line attribution method to recognize stock-based compensation expense for stock options and restricted stock awards. Stock options and restricted stock awards generally vest over four years with 25% vesting on the first anniversary of service commencement and the remaining 75% vesting monthly thereafter. Effective January 1, 2017, the Company adopted ASU 2016-09, pre-vesting Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Research and development $ 1,946 $ 853 $ 3,676 $ 1,491 General and administrative 1,780 2,648 3,350 3,032 Loss from equity method investment 505 — 951 — Total $ 4,231 $ 3,501 $ 7,977 $ 4,523
Fair Value of Employee and Non-employee Stock Option Award on the Grant Date Using the Black-Scholes Option-Pricing Model	The Company estimated the fair value of each employee and non-employee Six Months Ended June 30, 2017 2016 Employees: Weighted average expected volatility 72.7 % 77.9 % Expected term (in years) 6.0 6.0 Risk free interest rate 1.8 - 2.3 % 1.4 - 1.5 % Expected dividend yield 0.0 % 0.0 % Non-employees: Weighted average expected volatility 83.6 % n/a Expected term (in years) 10.0 n/a Risk free interest rate 2.3 % n/a Expected dividend yield 0.0 % n/a
Summary of Stock Option Activity for Employees and Non-employees	The following table summarizes stock option activity for employees and non-employees Stock Weighted- Weighted- Aggregate Outstanding at December 31, 2016 4,535,371 $ 8.38 9.1 $ 53,966 Granted 1,750,048 $ 16.13 Exercised (304,173 ) $ 2.40 Cancelled or forfeited (344,460 ) $ 5.11 Outstanding at June 30, 2017 5,636,786 $ 11.29 9.0 $ 30,510 Exercisable at June 30, 2017 1,319,922 $ 5.94 8.4 $ 13,309 Vested or expected to vest at June 30, 2017 (1) 5,609,286 $ 11.26 9.0 $ 30,467 (1) Represents the number of vested options at June 30, 2017 plus the number of unvested options expected to vest in the future.
Summary of the Company's Restricted Stock Activity	The following table summarizes restricted stock activity for employees and non-employees Reflected as Reflected as Total Weighted- Unvested restricted common shares as of December 31, 2016 89,367 650,856 740,223 $ 3.84 Vested (16,764 ) (212,075 ) (228,839 ) 4.02 Unvested restricted common shares as of June 30, 2017 72,603 438,781 511,384 $ 3.76

Organization and Operations - A

Organization and Operations - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Mar. 24, 2015
Organization and operations [Line Items]
Company formation date	Oct. 28, 2013
Company formation country name	Basel, Switzerland
Accumulated deficit	$ (100,873)	$ (57,083)
Cash	$ 272,264	$ 315,520
CRISPR Therapeutics Limited [Member] | United Kingdom [Member]
Organization and operations [Line Items]
Subsidiary formation date	Feb. 7, 2014
CRISPR Therapeutics, Inc. [Member] | United States [Member]
Organization and operations [Line Items]
Subsidiary formation date	Feb. 16, 2015
TRACR Hematology Limited [Member]
Organization and operations [Line Items]
Formation date, VIE	Jan. 23, 2014
Relationship nature and extent of involvement in VIE	On January 23, 2014, the founders of the Company formed TRACR Hematology Limited (“TRACR”), wholly-owned subsidiary of the Company, in the United Kingdom, to further the development of the CRISPR/Cas9 technology into medicines for the treatment of blood-borne illnesses. As the Company was funding and managing TRACR’s operations in 2014, it has been consolidated by the Company from the date that the Company established a variable interest in TRACR in April 2014. In March 2015, the Company acquired 82.1% of the outstanding equity of TRACR in a share exchange transaction. Concurrent with its initial public offering (“IPO”) in October 2016, the Company acquired the outstanding non-controlling interest in TRACR.
Purpose of VIE	To further the development of the CRISPR/Cas9 technology into medicines for the treatment of blood-borne illnesses.
Percentage of outstanding equity acquired			82.10%

Summary of Significant Accoun26

Summary of Significant Accounting Policies - Additional Information (Detail)	Jun. 30, 2017
Casebia Therapeutics LLP [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage	50.00%

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share (Detail) - shares shares in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of net loss per share	5,709,389	4,624,738
Stock Option Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of net loss per share	5,636,786	4,535,371
Unvested Unissued Restricted Common Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of net loss per share	72,603	89,367

Property and Equipment, net - S

Property and Equipment, net - Summary of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 22,267	$ 21,969
Accumulated Depreciation	(2,340)	(942)
Property and equipment, net	19,927	21,027
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	285	110
Furniture, Fixtures, and Other [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	2,079	2,044
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	5,985	2,970
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	13,742	15,780
Construction Work in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 176	$ 1,065

Property and Equipment, net - A

Property and Equipment, net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.7	$ 0.1	$ 1.4	$ 0.2

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accrued Liabilities, Current [Abstract]
Payroll and employee-related costs	$ 3,567	$ 2,585
Research costs	1,561	996
Licensing fees	783	492
Professional fees	1,892	2,715
Intellectual property costs	1,255	3,372
Accrued property and equipment	2,663	5,081
Other	167	1,079
Total	$ 11,888	$ 16,320

Convertible Loans - Additional

Convertible Loans - Additional Information (Detail) - USD ($)	Jan. 29, 2016	Oct. 26, 2015	Jun. 30, 2017	Jun. 30, 2016
Debt Conversion [Line Items]
Borrowings under loan agreement				$ 35,000,000
Conversion of convertible loans to Series B Preferred Shares				61,929,000
Gain on extinguishment of debt				$ 11,482,000
Bayer Convertible Loans [Member]
Debt Conversion [Line Items]
Loan agreement maturity date			Jan. 29, 2016
Borrowings under loan agreement	$ 35,000,000
Loan, accrued interest rate	2.00%
Borrowings under loan agreement	$ 35,000,000
Vertex Convertible Loans [Member]
Debt Conversion [Line Items]
Borrowings under loan agreement		$ 38,200,000
Loan, accrued interest rate		2.50%
Loan agreement maturity date			Apr. 26, 2016
Series B Redeemable Convertible Preferred Shares [Member] | Bayer Convertible Loans [Member]
Debt Conversion [Line Items]
Preferred shares, shares issued upon conversion	2,605,330
Preferred shares, conversion price per share	$ 13.43
Fair value of convertible loan	$ 24,500,000
Allocated to convertible loan	27,000,000
Interest expense	8,000,000
Conversion of convertible loans to Series B Preferred Shares	$ 35,000,000
Series B Redeemable Convertible Preferred Shares [Member] | Vertex Convertible Loans [Member]
Debt Conversion [Line Items]
Preferred shares, shares issued upon conversion	2,859,278
Preferred shares, conversion price per share	$ 13.43
Fair value of convertible loan	$ 26,900,000
Gain on extinguishment of debt	$ 11,500,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Apr. 13, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2017Sublease
Contingencies And Commitments [Line Items]
Cost sharing expensed relating to patent maintenance, defense and prosecution, incurred		$ 0.5	$ 0.3	$ 1	$ 0.8
Cost sharing expensed relating to patent maintenance, defense and prosecution, accrued				0.8		$ 2.8
Development and Option Agreement [Member] | StrideBio [Member]
Contingencies And Commitments [Line Items]
License agreement, one-time upfront payment	$ 0.5
License agreement, achieved milestone payment				0.3
License agreement, milestone payable				3
Convertible Notes Payable [Member] | Development and Option Agreement [Member] | StrideBio [Member]
Contingencies And Commitments [Line Items]
Purchase obligation		0.5		0.5
Research and Office Facility [Member]
Contingencies And Commitments [Line Items]
Operating lease number of sublet portions | Sublease							1
Operating leases, sublease payments receivable		$ 2.8		$ 2.8

Significant Contracts - Additio

Significant Contracts - Additional Information (Detail) € in Millions, SFr in Millions		1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
		Apr. 30, 2014USD ($)	Apr. 30, 2014CHF (SFr)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Nov. 30, 2014EUR (€)	Nov. 30, 2014USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	[1]			$ 17,120,000	$ 8,602,000	$ 31,925,000	$ 14,614,000
Non-current deferred revenue				79,232,000		$ 79,232,000		$ 77,646,000
Date of joint venture agreement						Dec. 19, 2015
Equity method investment				0		$ 0		0
Stock-based compensation expense				4,231,000	3,501,000	7,977,000	4,523,000
Casebia Therapeutics LLP [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense				1,400,000	0	2,500,000	0
Revenue from collaboration agreement				1,500,000	0	2,600,000	0
Non-current deferred revenue				300,000		$ 300,000		500,000
Date of formation of joint venture entity						Feb. 12, 2016
Unrecognized equity method losses in excess of Company's interest						$ 10,800,000		4,000,000
Stock-based compensation expense				500,000	0	1,000,000	0
Net loss of joint venture				9,000,000	1,000,000	14,600,000	74,800,000
Casebia Therapeutics LLP [Member] | Fair Value of CRISPR License Acquired [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense						71,400,000
Vertex Pharmaceuticals Inc [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense				3,300,000	1,600,000	5,900,000	3,300,000
Revenue from collaboration agreement				2,100,000	800,000	3,600,000	1,300,000
Non-current deferred revenue				78,900,000		78,900,000		77,100,000
Patent Assignment Agreement [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Clinical milestone payment payable										€ 0.3	$ 400,000
CRISPR-Charpentier License Agreement [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront fees paid for license		$ 100,000	SFr 0.1
Annual payments for consulting agreement				0	0			$ 0	$ 0
Research and development expense				0	0	0	300,000
TRACR-Charpentier License Agreement [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense				$ 0	$ 0	$ 0	$ 0
[1]	Including the following research and development expense with a related party, See Note 11:

Share Capital - Additional Info

Share Capital - Additional Information (Detail) - SFr / shares	Jun. 30, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Common stock, shares authorized	40,556,891	40,253,674
Common shares, par value	SFr 0.03	SFr 0.03
Treasury stock, shares	444,873	444,873
Unvested Unissued Restricted Share Awards [Member]
Class of Stock [Line Items]
Unvested unissued restricted common stock	72,603

Share Capital - Schedule of Con

Share Capital - Schedule of Conditional Capital Reserved for Future Issuance (Detail) - shares	Jun. 30, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Conditional capital reserved for future issuance	17,079,353	15,325,607
Employee Purchase Plans [Member]
Class of Stock [Line Items]
Conditional capital reserved for future issuance	413,226	413,226
Bonds and Similar Debt Instruments [Member]
Class of Stock [Line Items]
Conditional capital reserved for future issuance	4,919,700	4,919,700
Unvested Unissued Restricted Stock [Member]
Class of Stock [Line Items]
Conditional capital reserved for future issuance	166,667	166,667
Outstanding Stock Options [Member]
Class of Stock [Line Items]
Conditional capital reserved for future issuance	5,636,786	4,535,371
Stock Option Plan [Member]
Class of Stock [Line Items]
Conditional capital reserved for future issuance	5,942,974	5,290,643

Share Capital - Schedule of C36

Share Capital - Schedule of Conditional Capital Reserved for Future Issuance (Parenthetical) (Detail)	1 Months Ended
	May 31, 2017shares
Equity [Abstract]
Number of options approved	2,012,684

Equity-based Compensation - Equ

Equity-based Compensation - Equity-based Compensation Expense - Additional Information (Detail) - Stock Options and Restricted Stock Awards [Member]	6 Months Ended
	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation, options, vesting period	4 years
Share-based Compensation, options, vesting terms	Vest over four years with 25% vesting on the first anniversary of service commencement and the remaining 75% vesting monthly thereafter
Vesting Percentage on First Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation, options, vesting percentage	25.00%
Vesting Percentage after First Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation, options, vesting percentage	75.00%

Equity-based Compensation - Sch

Equity-based Compensation - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 4,231	$ 3,501	$ 7,977	$ 4,523
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	1,946	853	3,676	1,491
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	1,780	$ 2,648	3,350	$ 3,032
Loss from Equity Method Investment [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 505		$ 951

Equity-based Compensation - Fai

Equity-based Compensation - Fair Value of Employee and Non-employee Stock Option Award on the Grant Date Using the Black-Scholes Option-Pricing Model (Detail)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected volatility	72.70%	77.90%
Expected term (in years)	6 years	6 years
Expected dividend yield	0.00%	0.00%
Employee [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.80%	1.40%
Employee [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	2.30%	1.50%
Non-Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected volatility	83.60%
Expected term (in years)	10 years	0 years
Risk free interest rate	2.30%
Expected dividend yield	0.00%

Equity-based Compensation - Sum

Equity-based Compensation - Summary of Stock Option Activity for Employees and Non-employees (Detail) - Employees and Non-employees [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options, Outstanding, Beginning Balance	4,535,371
Stock Options, Granted	1,750,048
Stock Options, Exercised	(304,173)
Stock Options, Cancelled or forfeited	(344,460)
Stock Options, Outstanding, Ending Balance	5,636,786	4,535,371
Stock Options, Exercisable	1,319,922
Stock Options, Vested or expected to vest	5,609,286
Weighted-Average Exercise Price, Outstanding, Beginning Balance	$ 8.38
Weighted-Average Exercise Price, Granted	16.13
Weighted-Average Exercise Price, Exercised	2.40
Weighted-Average Exercise Price, Cancelled or forfeited	5.11
Weighted-Average Exercise Price, Outstanding, Ending Balance	11.29	$ 8.38
Weighted-Average Exercise Price, Exercisable	5.94
Weighted-Average Exercise Price, Vested or expected to vest	$ 11.26
Weighted-Average Remaining Contractual Term	9 years	9 years 1 month 6 days
Weighted-Average Remaining Contractual Term, Exercisable	8 years 4 months 24 days
Weighted-Average Remaining Contractual Term, Vested or expected to vest	9 years
Outstanding at December 31, 2016	$ 30,510	$ 53,966
Exercisable at June 30, 2017	13,309
Vested or expected to vest at June 30, 2017 (1)	$ 30,467

Equity-based Compensation - Sha

Equity-based Compensation - Share Based Payment Activity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense	$ 35,700		$ 35,700
Equity-based compensation expense not yet recognized, weighted-average service period for recognition			3 years 2 months 12 days
Stock-based compensation expense	4,231	$ 3,501	$ 7,977	$ 4,523
Founders' [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price, Vested or expected to vest					$ 12.65
Stock-based compensation expense	$ 200	$ 2,200	$ 400	$ 2,200
Fay Corp Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation, number of shares issued					290,400
Fay Corp Awards [Member] | Founders' [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer of vested shares					268,093
Performance-Based [Member] | Vesting Percentage on First Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options, Granted			60,000	13,333
Share-based compensation, options, vested			335,372
Share-based compensation, options, deemed probable of vesting	0		0
Performance-Based [Member] | Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, granted			0
Restricted stock, vested			50,000
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense not yet recognized, weighted-average service period for recognition			1 year
Total fair value of vested restricted common shares			$ 4,200
Total unrecognized compensation expenses	$ 4,000		$ 4,000
Restricted stock, vested			228,839

Equity-based Compensation - S42

Equity-based Compensation - Summary of the Company's Restricted Stock Activity (Detail) - Restricted Stock Awards [Member]	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted common shares, Number of Shares, Beginning Balance	740,223
Unvested restricted common shares, Number of Shares, Vested	(228,839)
Unvested restricted common shares, Number of Shares, Ending Balance	511,384
Unvested restricted common shares, Weighted-Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 3.84
Unvested restricted common shares, Weighted-Average Grant Date Fair Value, Vested | $ / shares	4.02
Unvested restricted common shares, Weighted-Average Grant Date Fair Value, Ending Balance | $ / shares	$ 3.76
Reflected as Outstanding Upon Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted common shares, Number of Shares, Beginning Balance	89,367
Unvested restricted common shares, Number of Shares, Vested	(16,764)
Unvested restricted common shares, Number of Shares, Ending Balance	72,603
Reflected as Outstanding Upon Grant Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted common shares, Number of Shares, Beginning Balance	650,856
Unvested restricted common shares, Number of Shares, Vested	(212,075)
Unvested restricted common shares, Number of Shares, Ending Balance	438,781

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income tax provision	$ 343	$ 0	$ 622	$ 76
Effective income tax rate	(1.60%)	0.00%	(1.44%)	(0.30%)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Research and development expense	[1]	$ 17,120,000	$ 8,602,000	$ 31,925,000	$ 14,614,000
Accounts receivable, related party amount, current		1,340,000		1,340,000		$ 752,000
Other current assets, related party amount		1,141,000		1,141,000		0
Deferred revenue related party amount		284,000		284,000		527,000
Casebia Therapeutics LLP [Member]
Related Party Transaction [Line Items]
Revenue from collaboration agreement		1,500,000	0	2,600,000	0
Research and development expense		1,400,000	0	2,500,000	0
Bayer Healthcare LLC [Member]
Related Party Transaction [Line Items]
Sublicense fees payable		0		0		500,000
Bayer Healthcare LLC [Member] | Research and Development [Member]
Related Party Transaction [Line Items]
Sublicense fees recorded		0	0	0	300,000
Bayer Healthcare LLC [Member] | Casebia Therapeutics LLP [Member]
Related Party Transaction [Line Items]
Revenue from collaboration agreement		1,500,000	0	2,600,000	0
Research and development expense		1,400,000	$ 0	2,500,000	$ 0
Accounts receivable, related party amount, current		1,300,000		1,300,000		800,000
Other current assets, related party amount		1,100,000		1,100,000		0
Deferred revenue related party amount		$ 300,000		$ 300,000		$ 500,000
[1]	Including the following research and development expense with a related party, See Note 11:

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Convertible Notes Payable [Member] - Development and Option Agreement [Member] - StrideBio [Member] - USD ($) $ in Millions	Aug. 01, 2017	Jun. 30, 2017
Subsequent Event [Line Items]
Purchase obligation		$ 0.5
Subsequent Event [Member]
Subsequent Event [Line Items]
Financing threshold	$ 3
Percent of lowest price per share at which shares are issued and sold to investors for convesion of convertible note	80.00%
Accrued interest rate	8.00%