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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2016	Apr. 29, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Trading Symbol	CBIO
Entity Registrant Name	CATALYST BIOSCIENCES, INC.
Entity Central Index Key	0001124105
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		11,430,108

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 20,580	$ 29,096
Short-term investments	7,087	3,402
Restricted cash	30,988	33,794
Deposits	170	133
Accounts receivable	448	492
Prepaid and other current assets	1,463	1,781
Total current assets	60,736	68,698
Restricted cash, noncurrent	125	125
Property and equipment, net	682	698
Total assets	61,543	69,521
Current liabilities:
Accounts payable	717	939
Accrued compensation	619	926
Other accrued liabilities	401	535
Deferred revenue, current portion	438	438
Deferred rent, current portion	24	19
Redeemable convertible notes	30,936	33,743
Derivative liability	196	1,156
Total current liabilities	33,331	37,756
Deferred revenue, noncurrent portion	183	292
Deferred rent, noncurrent portion	40	48
Total liabilities	33,554	38,096
Stockholders' equity:
Preferred stock, $0.001 par value, 5,000,000 shares and 0 shares authorized and outstanding at March 31, 2016 (unaudited) and December 31, 2015;
Common stock, $0.001 par value, 100,000,000 shares authorized at March 31, 2016 (unaudited) and December 31, 2015; 11,430,108 and 11,430,085 shares issued and outstanding at March 31, 2016 (unaudited) and December 31, 2015	11	11
Additional paid-in capital	162,603	162,450
Accumulated other comprehensive income	4	1
Accumulated deficit	(134,629)	(131,037)
Total stockholders' equity	27,989	31,425
Total liabilities and stockholders' equity	$ 61,543	$ 69,521

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	11,430,108	11,430,085
Common stock, shares outstanding	11,430,108	11,430,085

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Contract revenue	$ 109	$ 672
Operating expenses:
Research and development	2,286	1,383
General and administrative	2,395	2,321
Total operating expenses	4,681	3,704
Loss from operations	(4,572)	(3,032)
Interest and other income, net	980	174
Net loss	$ (3,592)	$ (2,858)
Net loss per common share, basic and diluted	$ (0.31)	$ (7.67)
Shares used to compute net loss per common share, basic and diluted	11,430,106	372,489

Condensed Consolidated Statement of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net loss	$ (3,592)	$ (2,858)
Other comprehensive income (loss):
Unrealized gain on available-for-sale securities	3
Total comprehensive loss	$ (3,589)	$ (2,858)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statement of Stockholders Equity - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Common Stock Amount	Common Stock Amount Redeemable Convertible Preferred Stock	Additional Paid-In Capital	Additional Paid-In Capital Redeemable Convertible Preferred Stock	Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Redeemable Convertible Preferred Stock	Accumulated Deficit	Accumulated Deficit Redeemable Convertible Preferred Stock
Balance (in shares) at Dec. 31, 2015			11,430,085
Balance at Dec. 31, 2015	$ 31,425		$ 11		$ 162,450		$ 1		$ (131,037)
Stock-based compensation expense associated with vesting of stock awards	153				153
Conversion of convertible securities, value		$ 0		$ 0		$ 0		$ 0		$ 0
Conversion of convertible securities, shares				23
Unrealized gain on available-for-sale securities	3						3
Net loss	(3,592)								(3,592)
Balance (in shares) at Mar. 31, 2016			11,430,108
Balance at Mar. 31, 2016	$ 27,989		$ 11		$ 162,603		$ 4		$ (134,629)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Activities
Net loss	$ (3,592)	$ (2,858)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	153	44
Depreciation and amortization	105	113
Gain on extinguishment of redeemable convertible notes	(85)
Change in fair value of warrant liability		(78)
Change in fair value of derivative liability	(875)
Changes in operating assets and liabilities:
Accounts receivable	44	(287)
Prepaid and other current assets	281	(247)
Accounts payable	(222)	568
Accrued compensation and other accrued liabilities	(441)	463
Deferred rent	(3)	(26)
Deferred revenue	(109)	(672)
Net cash flows used in operating activities	(4,744)	(2,980)
Investing Activities
Proceeds from maturities of investments		278
Purchase of investments	(3,682)
Change in restricted cash	(1)	(57)
Purchases of property and equipment	(89)
Net cash flows (used in) provided by investing activities	(3,772)	221
Financing Activities
Release of restricted cash due to conversion and redemption of redeemable convertible notes	2,807
Payments for the redemption of redeemable convertible notes	(2,807)
Proceeds from issuance of convertible preferred stock, net of issuance costs		3,271
Proceeds from the exercise of common stock options		13
Net cash flows provided by financing activities		3,284
Net increase (decrease) in cash and cash equivalents	(8,516)	525
Cash and cash equivalents at beginning of period	29,096	1,544
Cash and equivalents at end of period	$ 20,580	$ 2,069

Nature of Operations

3 Months Ended

Mar. 31, 2016

Nature of Operations

1.	Nature of Operations

Catalyst Biosciences, Inc. (the “Company” or “Catalyst”), is a clinical-stage biotechnology company focused on engineering proteases as therapeutics for hemophilia, hemeostasis, complement-mediated diseases, and other unmet medical needs. Its facilities are located in South San Francisco, California and it operates in one segment. The Company’s current customers, engaged principally through collaborations are other pharmaceutical and biotechnology companies, who are also engaged in developing and commercializing therapies for patients in the areas of hemophilia and complement-mediated diseases.

Prior to August 20, 2015, the name of the Company was Targacept. On August 20, 2015, Targacept completed its business combination with “Old Catalyst” in accordance with the terms of an Agreement and Plan of Merger, dated as of March 5, 2015, as amended on May 6 and May 13, 2015 (the “Merger Agreement”), by and among Targacept, Talos Merger Sub, Inc. (“Merger Sub”) and Old Catalyst, pursuant to which Merger Sub merged with and into Old Catalyst, with Old Catalyst surviving as a wholly-owned subsidiary of Targacept (the “Merger”). Also on August 20, 2015, in connection with, and prior to the completion of, the Merger, Targacept effected a 7-for-1 reverse stock split of its common stock (the “Reverse Stock Split”) and changed its name from Targacept, Inc. to Catalyst Biosciences, Inc. Following the completion of the merger, the business conducted by the Company became primarily the business conducted by Old Catalyst described in the paragraph above. We refer in this Quarterly Report on Form 10-Q to the business combination as the “merger,” to the Company prior to the merger as “Targacept” and to our subsidiary as “Old Catalyst,” and discussions of historical results reflect the results of Old Catalyst prior to the completion of the merger and do not include the historical results of Targacept prior to the completion of the merger.

On August 19, 2015, prior to and in connection with the merger, the Company paid a dividend to the Targacept holders consisting of cash and non-interest bearing redeemable convertible notes (the “Pre-Closing Dividend”), see Note 6 for further detail. In connection with the Pre-Closing Dividend and the reverse-stock split, the Company adjusted the number of shares subject to each outstanding option to purchase its common stock. On August 20, 2015, upon the completion of the merger, the Company issued shares of its common stock to Old Catalyst stockholders in exchange for each share of Old Catalyst common stock outstanding immediately prior to the merger and assumed all of the outstanding options and warrants of Old Catalyst, with such options and warrants henceforth representing the right to purchase a number of shares of the Company’s common stock. All preferred stock and warrants were converted to common stock and warrants to purchase common stock upon the closing of the Merger.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2016

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Basis of Presentation

The Company’s condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and following the requirements of the Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These financial statements have been prepared on the same basis as the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the Company’s financial information. These interim results and cash flows for any interim period are not necessarily indicative of the results to be expected for the full year.

The accompanying condensed consolidated financial statements and related financial information should be read in conjunction with the consolidated financial statements filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 (“Annual Report”).

The Company’s significant accounting policies are included in “Part II - Item 8 - Financial Statements and Supplementary Data - Note 2 – Summary of Significant Accounting Policies” in the Company’s Annual Report. There have been no significant changes to these accounting policies during the first three months of 2016.

Fair Value Measurements

3 Months Ended

Mar. 31, 2016

Fair Value Measurements

3.	Fair Value Measurements

For a description of the fair value hierarchy and our fair value methodology, see “Part II - Item 8 - Financial Statements and Supplementary Data - Note 2 – Summary of Significant Accounting Policies” in the Company’s Annual Report. There were no significant changes in these methodologies during the three months ended March 31, 2016. As of March 31, 2016 and December 31, 2015, the Company’s highly liquid money market funds included within cash equivalents and restricted cash including deposit in an escrow account are financial assets that are valued using Level 1 inputs. The Company classifies its municipal bonds and corporate notes as Level 2.

Level 2 inputs for the valuations are limited to quoted prices for similar assets or liabilities in active markets and inputs other than quoted prices that are observable for the asset or liability. There were no transfers in or out of Level 1 and Level 2 during the periods presented.

Liabilities that are measured at fair value consist of the derivative liability that utilize Level 3 inputs. There were no transfers in or out of Level 3 during the periods presented.

The following tables present the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 (in thousands):


	March 31, 2016
	Level 1		Level 2		Level 3		Total
Financial assets:
Money market funds⁽³⁾	$	19,762	$	—	$	—	$	19,762
Restricted cash (money market funds)⁽¹⁾		31,113		—		—		31,113
U.S. government agency securities⁽²⁾		6,411		—		—		6,411
Municipal bonds⁽²⁾		—		295		—		295
Corporate notes⁽²⁾		—		381		—		381

Total financial assets	$	57,286	$	676	$	—	$	57,962

Financial liabilities:
Derivative liability	$	—	$	—	$	196	$	196

Total financial liabilities	$	—	$	—	$	196	$	196

(1)	$31.0 million of restricted cash in the Indenture serves as full collateral for the redeemable convertible notes and $125,000 of restricted cash serves as collateral for the Company’s corporate credit card and deposit for its facility lease.

(2)	Included in Short Term Investments on accompanying condensed consolidated balance sheet.

(3)	Included in Cash and Cash Equivalents on accompanying condensed consolidated balance sheet.


	December 31, 2015
	Level 1		Level 2		Level 3		Total
Financial assets:
Money market funds⁽³⁾	$	28,927	$	—	$	—	$	28,927
Restricted cash (money market funds)⁽¹⁾		33,919		—		—		33,919
Municipal bonds⁽²⁾		—		296		—		296
Corporate notes⁽²⁾		—		3,106		—		3,106

Total financial assets	$	62,846	$	3,402	$	—	$	66,248

Financial liabilities:
Derivative liability	$	—	$	—	$	1,156	$	1,156

Total financial liabilities	$	—	$	—	$	1,156	$	1,156

(1)	$33.8 million of restricted cash in the Indenture serves as full collateral for the redeemable convertible notes and $125,000 of restricted cash serves as collateral for the Company’s corporate credit card and deposit for its facility lease.

(2)	Included in Short Term Investments on accompanying condensed consolidated balance sheet.

(3)	Included in Cash and Cash Equivalents on accompanying condensed consolidated balance sheet.

The fair value of the derivative liability is measured using the Black-Scholes option-pricing valuation model. Inputs used to determine the estimated fair value of the conversion option include the fair value of the underlying common stock at the valuation measurement date, the remaining contractual term of the conversion option, risk-free interest rates, and expected dividends on and expected volatility of the price of the underlying common stock. In addition, the Company estimated the convertible redeemable note exchange rate based on an analysis of its actual exchange of notes for cash redemption or exchange of notes for conversion to common stock. See Note 6 for further detail.

The following table presents the activity for the derivative liability measured at estimated fair value using unobservable inputs as of March 31, 2016 (in thousands):


	Derivative Liability
Balance as of December 31, 2015	$	1,156
Change in fair value included in interest and other income		(875	)
Gain on extinguishment of redeemable convertible notes		(85	)

Balance as of March 31, 2016	$	196

The estimated reporting date fair value-based measurement of the derivative liability was calculated using the Black-Scholes valuation model, based on the following weighted-average assumptions for the three months ended March 31, 2016:


	Three Months Ended March 31,
	2016
Expected term		1.76 years
Expected volatility		82.5	%
Risk-free interest rate		0.73	%
Expected dividend yield		0	%

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Financial Instruments

3 Months Ended

Mar. 31, 2016

Financial Instruments

4.	Financial Instruments

Cash equivalents, restricted cash and short-term and long-term investments, all of which are classified as available-for-sale securities, consisted of the following (in thousands):


March 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Money market funds	$	19,762	$	—	$	—	$	19,762
Restricted cash (money market funds)		31,113		—		—		31,113
U.S. government agency securities		6,408		3		—		6,411
Municipal bonds		295		—		—		295
Corporate notes		380		1		—		381

Total financial assets	$	57,958	$	4	$	—	$	57,962

Classified as:
Cash and cash equivalents							$	19,762
Restricted cash (money market funds)								31,113
Short-term investments								7,087

							$	57,962


December 31, 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Money market funds	$	28,927	$	—	$	—		$	28,927
Restricted cash (money market funds)		33,919		—		—			33,919
Municipal bonds		295		1		—			296
Corporate notes		3,106		1		(1	)		3,106

Total financial assets	$	66,247	$	2	$	(1	)	$	66,248

Classified as:
Cash and cash equivalents								$	28,927
Restricted cash (money market funds)									33,919
Short-term investments									3,402

								$	66,248

As of March 31, 2016, the remaining contractual maturities of available-for-sale securities were less than one year. There have been no significant realized gains or losses on available-for-sale securities for the periods presented.

Convertible Notes

3 Months Ended

Mar. 31, 2016

Convertible Notes

6.	Redeemable Convertible Notes

On August 19, 2015, immediately prior to the merger, the Company issued to Targacept stockholders non-interest bearing redeemable convertible notes (the “Notes”) in the aggregate principal amount of $37.0 million, which is approximately $1.08 per share of the Company’s common stock as of the record date, or $7.56 per share after giving effect to the Reverse Stock Split (the “Pre-Closing Dividend”). The Notes do not bear interest. The principal amount of the Notes are convertible, at the option of each noteholder, into cash or into shares of the Company’s common stock at a conversion rate of $9.19 per share (after taking into account the Reverse Stock Split), and are payable in cash, if not previously redeemed or converted, at maturity on February 19, 2018, the 30-month anniversary of the closing of the issuance of the Notes.

In connection with the Pre-Closing Dividend, on August 19, 2015, Targacept entered into an indenture (the “Indenture”) with American Stock Transfer & Trust Company, LLC, as trustee, and an escrow agreement with American Stock Transfer & Trust Company, LLC and Delaware Trust Company, LLC, as escrow agent, under which $37.0 million, which represented the initial principal amount of the convertible notes, was deposited in a segregated escrow account for the benefit of the holders of the notes in order to facilitate the payment of the notes upon redemption or at maturity (the amount of such deposit together with interest accrued and capitalized thereon, the “Escrow Funds”). The Notes are the Company’s secured obligation, and the Indenture does not limit its other indebtedness, secured or unsecured.

Holders of the Notes may submit conversion notices, which are irrevocable, instructing the trustee to convert such the Notes into shares of the common stock at a conversion price of $9.19 per share. Following each conversion date, the Company will issue the number of whole shares of common stock issuable upon conversion as promptly as practicable (and in any event within 10 business days). The trustee will in turn release to the Company the respective amount of restricted cash to cover the stock issuance.

The conversion to common stock feature of the Notes was determined to be a derivative liability requiring bifurcation and separate accounting. The fair value of such conversion feature at issuance was determined to be $1.5 million. The Company initially estimated the fair value of the conversion option using the Black-Scholes option-pricing valuation model with the following assumptions: expected term of 2.25 years, risk-free interest rate of 0.84%, expected volatility of 70.0%, anticipated future exchange rate of the Notes and a dividend yield of 0%.

The bifurcation of the derivative liability from the estimated fair value of the Notes of $37.1 million at issuance resulted in a debt discount of $1.4 million. The Company elected to accrete the entire debt discount as interest expense immediately subsequent to the merger. In addition, changes in the fair value of the derivative liability will be recorded within interest and other income in the consolidated statement of operations. The Company will remeasure the derivative liability to fair value until the earlier of the conversion, redemption or maturity of the redeemable convertible notes.

For the three months ended March 31, 2016 and 2015, the Company did not recognize interest expense related to the amortization of the debt discount within interest expense on the Company’s consolidated statement of operations as the redeemable convertible notes are immediately fully redeemable at the option of the holders.

As of March 31, 2016, $5.8 million of the Notes were redeemed and $0.3 million of the Notes were converted into common stock. The Company recognized $0.1 million of gain on the extinguishment of Notes upon the redemption of the Notes during the three months ended March 31, 2016.

Related Party Debt

Convertible Notes

5.	Convertible Notes – Related Parties

In May and June 2015, Old Catalyst issued and sold convertible promissory notes in a series of closings in the aggregate principal amount of $1.9 million to existing stockholders, together with warrants to purchase shares of either the Old Catalyst’s Series E preferred stock or the capital stock issued during the next financing. The convertible promissory notes accrued interest at a rate of 12% per annum and were to mature one year from the date of issuance.

In connection with the debt financing, Old Catalyst also issued and sold to each investor purchasing a convertible promissory note a warrant to purchase equity securities of the same type that the principal amount of the convertible promissory note issued to such investor converts into.

For the three months ended March 31, 2016 and 2015, the Company recognized interest expense of $0 related to the accrued interest and amortization of the debt discount within interest expense on the Company’s consolidated statement of operations.

In conjunction with the second closing in June 2015 of the Series F convertible preferred stock financing, Old Catalyst and the majority holders of the notes amended the notes such that the closing constituted a qualified financing and, accordingly, the total outstanding principal amount of the Notes of $1.9 million and all unpaid accrued interest of $0.03 million, were converted into 1,511,723 shares of Series F convertible preferred stock and warrants for the purchase of 372,045 shares of Series F convertible preferred stock were issued to the Notes holders in connection with the conversion of the Notes to Series F convertible preferred stock. All preferred stock and warrants were converted to common stock and warrants to purchase common stock upon the closing of the Merger.

As the recipients of the convertible promissory notes each have an equity ownership in the Company, the convertible promissory notes are considered to be a related-party transaction.

All outstanding shares of Old Catalyst’s convertible preferred stock and warrants to purchase convertible preferred stock were converted into shares of the Company’s common stock and warrants to purchase common stock upon completion of the merger.

Stock Based Compensation

3 Months Ended

Mar. 31, 2016

Stock Based Compensation

7.	Stock Based Compensation

The Company assumed all of the outstanding options under Old Catalyst’s 2004 Stock Plan (the “Catalyst Plan”) and all of the standalone options of Old Catalyst that were not issued under the Catalyst Plan, in each case whether or not vested, outstanding immediately prior to the Merger, with such options henceforth representing the right to purchase that number of shares of the Company’s common stock equal to 0.0382 multiplied by the number of shares of Old Catalyst common stock previously represented by such options. For accounting purposes, however, the Company is instead deemed to have assumed all of the options under the Targacept, Inc. 2000 Equity Incentive Plan and the 2006 Stock Incentive Plan and all of the standalone options of Targacept that were not issued under such plans outstanding immediately prior to the Merger (such plans and options, together with the Catalyst Plan and the standalone Catalyst options, the “Plans”), in addition to the Company’s 2015 Stock Incentive Plan (as subsequently amended and restated). No additional grants were made from the Old Plans on or after the Merger Effective Date.

The following table summarizes stock option activity under the Plans including stock options granted to non-employees, and related information:


	Number of Shares Underlying Outstanding Options			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)
Outstanding — December 31, 2015		2,199,509		$	9.84		4.51
Options granted		11,500		$	2.17
Options exercised		—		$	—
Options canceled		—			—
Options forfeited		(3,815	)	$	4.68

Outstanding — March 31, 2016		2,207,194		$	9.81		4.28

Exercisable — March 31, 2016		1,604,253		$	11.80		2.32

Vested and expected to vest — March 31, 2016		2,148,017		$	9.95		4.14

Valuation Assumptions

The Company estimated the fair value of stock options granted using the Black-Scholes option-pricing formula and a single option award approach. This fair value is being amortized ratably over the requisite service periods of the awards, which is generally the vesting period. The fair value of employee stock options was estimated using the following weighted-average assumptions for the three months ended March 31, 2016 and 2015:


	Three Months Ended March 31,
	2016			2015
Employee Stock Options:
Risk-free interest rate		1.57	%		1.42	%
Expected term (in years)		6.04			5.44
Dividend yield		—			—
Volatility		73.28	%		65.24	%

Weighted-average fair value of stock options granted	$	1.41		$	1.79

Total stock-based compensation recognized was as follows (in thousands):


	Three Months ended March 31
	2016		2015
Research and development	$	50	$	11
General and administrative		103		33

Total stock-based compensation	$	153	$	44

As of March 31, 2016, the Company had unrecognized employee stock-based compensation expense of $1.5 million, related to unvested stock awards, which is expected to be recognized over an estimated weighted-average period of 3.18 years.

Collaborations

3 Months Ended

Mar. 31, 2016

Collaborations

8.	Collaborations

Pfizer

On August 20, 2013 the Company and Pfizer entered into an amendment to the Factor VIIa collaboration agreement whereby the companies agreed to provide specific mutual releases and covenants and modify certain milestone payment schedules in the agreement. Per the amendment, Pfizer agreed to make two non-refundable $1.5 million annual license maintenance payments to the Company, payable on August 1, 2014 and August 1, 2013. The annual license maintenance payments received were being amortized to contract revenue over the estimated expected performance period under the arrangement, which the Company estimated was to the end August 1, 2015.

On April 2, 2015, Pfizer notified the Company that it was exercising its right to terminate in its entirety the collaboration agreement. The termination became effective 60 days after the Company’s receipt of the termination notice. On June 1, 2015, the license and certain rights under the research and license agreement terminated and reverted back to the Company. Pfizer is in the process of transferring clinical trial data, regulatory documentation and related technology under the research and license agreement to the Company. The Company plans to continue clinical development of this product candidate. The Company revised the expected period of performance to end on June 1, 2015, which was the effective termination of all performance obligations of the Company under the research and license agreement. Accordingly, all deferred revenue was recognized through June 1, 2015.

Contract revenue related to the agreement with Pfizer was zero and $0.6 million during the three months ended March 31, 2016 and 2015, respectively.

ISU Abxis

On June 16, 2013, the Company entered into a license and collaboration agreement with ISU Abxis, whereby the Company licensed its proprietary human Factor IX products to ISU Abxis for initial development in South Korea. Under the terms of the agreement, ISU Abxis is responsible for development and manufacturing of the licensed products through Phase 1/2 clinical trials. Until the completion of Phase 1/2 development, ISU Abxis also has a right of first refusal with respect to commercialization rights for the licensed products in South Korea. The Company has the sole rights and responsibility for worldwide development, manufacture and commercialization of Factor IX products after Phase 1/2 development, unless ISU Abxis has exercised its right of first refusal regarding commercialization rights in South Korea, in which case the Company’s rights are in the entire world excluding South Korea. ISU’s rights will also terminate in the event that the Company enters into a license agreement with another party to develop, manufacture and commercialize Factor IX products in at least two major market territories.

ISU Abxis paid the Company an up-front signing fee of $1.75 million and is obligated to pay to the Company contingent milestone-based payments on the occurrence of certain defined development events, and reimbursement for a portion of the Company’s costs relating to intellectual property filings and maintenance thereof on products. The Company is obligated to pay ISU Abxis a percentage of all net profits it receives from collaboration products.

Contract revenue of $0.1 million for both the three months ended March 31, 2016 and 2015, reflected the amortization of the up-front fee over the estimated period of the Company’s performance obligations under the agreement, which was assessed to be four years beginning in September 2013 when the agreement was executed. The deferred revenue balance related to the ISU Abxis collaboration was $0.6 million and $0.7 million as of March 31, 2016, and December 31, 2015, respectively.

Net Loss per Share

3 Months Ended

Mar. 31, 2016

Net Loss per Share

9.	Net Loss per Share

The following table sets forth the computation of the basic and diluted net loss per share during the three months ended March 31, 2016 and 2015 (in thousands, except share and per share data):


	Three Months Ended, March 31,
	2016			2015
Net loss, basic and diluted	$	(3,592	)	$	(2,858	)

Weighted-average number of shares used in computing net loss per share, basic and diluted		11,430,106			372,489

Net loss per share, basic and diluted	$	(0.31	)	$	(7.67	)

Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities on an as-if converted basis that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	March 31,		December 31,
	2016		2015
Options to purchase common stock		2,208,575		2,200,890
Common stock warrants		180,954		180,954
Redeemable convertible notes		3,366,340		3,671,745

Total		5,755,869		6,053,589

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2016

Basis of Presentation

Basis of Presentation

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 (in thousands):


	March 31, 2016
	Level 1		Level 2		Level 3		Total
Financial assets:
Money market funds⁽³⁾	$	19,762	$	—	$	—	$	19,762
Restricted cash (money market funds)⁽¹⁾		31,113		—		—		31,113
U.S. government agency securities⁽²⁾		6,411		—		—		6,411
Municipal bonds⁽²⁾		—		295		—		295
Corporate notes⁽²⁾		—		381		—		381

Total financial assets	$	57,286	$	676	$	—	$	57,962

Financial liabilities:
Derivative liability	$	—	$	—	$	196	$	196

Total financial liabilities	$	—	$	—	$	196	$	196

(1)	$31.0 million of restricted cash in the Indenture serves as full collateral for the redeemable convertible notes and $125,000 of restricted cash serves as collateral for the Company’s corporate credit card and deposit for its facility lease.

(2)	Included in Short Term Investments on accompanying condensed consolidated balance sheet.

(3)	Included in Cash and Cash Equivalents on accompanying condensed consolidated balance sheet.


	December 31, 2015
	Level 1		Level 2		Level 3		Total
Financial assets:
Money market funds⁽³⁾	$	28,927	$	—	$	—	$	28,927
Restricted cash (money market funds)⁽¹⁾		33,919		—		—		33,919
Municipal bonds⁽²⁾		—		296		—		296
Corporate notes⁽²⁾		—		3,106		—		3,106

Total financial assets	$	62,846	$	3,402	$	—	$	66,248

Financial liabilities:
Derivative liability	$	—	$	—	$	1,156	$	1,156

Total financial liabilities	$	—	$	—	$	1,156	$	1,156

(1)	$33.8 million of restricted cash in the Indenture serves as full collateral for the redeemable convertible notes and $125,000 of restricted cash serves as collateral for the Company’s corporate credit card and deposit for its facility lease.

(2)	Included in Short Term Investments on accompanying condensed consolidated balance sheet.

(3)	Included in Cash and Cash Equivalents on accompanying condensed consolidated balance sheet.

Fair Values of Derivative Liabilities Estimated Using Black-Scholes Valuation Model


	Three Months Ended March 31,
	2016
Expected term		1.76 years
Expected volatility		82.5	%
Risk-free interest rate		0.73	%
Expected dividend yield		0	%

Derivative

Derivative Liability Measured at Estimated Fair Value Using Unobservable Inputs

The following table presents the activity for the derivative liability measured at estimated fair value using unobservable inputs as of March 31, 2016 (in thousands):


	Derivative Liability
Balance as of December 31, 2015	$	1,156
Change in fair value included in interest and other income		(875	)
Gain on extinguishment of redeemable convertible notes		(85	)

Balance as of March 31, 2016	$	196

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Cash Equivalents and Short-Term and Long-Term Investments Classified as Available for Sale Securities

Cash equivalents, restricted cash and short-term and long-term investments, all of which are classified as available-for-sale securities, consisted of the following (in thousands):


March 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Money market funds	$	19,762	$	—	$	—	$	19,762
Restricted cash (money market funds)		31,113		—		—		31,113
U.S. government agency securities		6,408		3		—		6,411
Municipal bonds		295		—		—		295
Corporate notes		380		1		—		381

Total financial assets	$	57,958	$	4	$	—	$	57,962

Classified as:
Cash and cash equivalents							$	19,762
Restricted cash (money market funds)								31,113
Short-term investments								7,087

							$	57,962


December 31, 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Money market funds	$	28,927	$	—	$	—		$	28,927
Restricted cash (money market funds)		33,919		—		—			33,919
Municipal bonds		295		1		—			296
Corporate notes		3,106		1		(1	)		3,106

Total financial assets	$	66,247	$	2	$	(1	)	$	66,248

Classified as:
Cash and cash equivalents								$	28,927
Restricted cash (money market funds)									33,919
Short-term investments									3,402

								$	66,248

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Option Activity

The following table summarizes stock option activity under the Plans including stock options granted to non-employees, and related information:


	Number of Shares Underlying Outstanding Options			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)
Outstanding — December 31, 2015		2,199,509		$	9.84		4.51
Options granted		11,500		$	2.17
Options exercised		—		$	—
Options canceled		—			—
Options forfeited		(3,815	)	$	4.68

Outstanding — March 31, 2016		2,207,194		$	9.81		4.28

Exercisable — March 31, 2016		1,604,253		$	11.80		2.32

Vested and expected to vest — March 31, 2016		2,148,017		$	9.95		4.14

Fair Value of Employee Stock Options Estimated Using Weighted-Average Assumptions

The fair value of employee stock options was estimated using the following weighted-average assumptions for the three months ended March 31, 2016 and 2015:


	Three Months Ended March 31,
	2016			2015
Employee Stock Options:
Risk-free interest rate		1.57	%		1.42	%
Expected term (in years)		6.04			5.44
Dividend yield		—			—
Volatility		73.28	%		65.24	%

Weighted-average fair value of stock options granted	$	1.41		$	1.79

Summary of Stock-Based Compensation Recognized

Total stock-based compensation recognized was as follows (in thousands):


	Three Months ended March 31
	2016		2015
Research and development	$	50	$	11
General and administrative		103		33

Total stock-based compensation	$	153	$	44

Net Loss per Share (Tables)

3 Months Ended

Mar. 31, 2016

Basic and Diluted Net Loss Per Share

The following table sets forth the computation of the basic and diluted net loss per share during the three months ended March 31, 2016 and 2015 (in thousands, except share and per share data):


	Three Months Ended, March 31,
	2016			2015
Net loss, basic and diluted	$	(3,592	)	$	(2,858	)

Weighted-average number of shares used in computing net loss per share, basic and diluted		11,430,106			372,489

Net loss per share, basic and diluted	$	(0.31	)	$	(7.67	)

Anti-dilutive Security not Included In Diluted per Share Calculations


	March 31,		December 31,
	2016		2015
Options to purchase common stock		2,208,575		2,200,890
Common stock warrants		180,954		180,954
Redeemable convertible notes		3,366,340		3,671,745

Total		5,755,869		6,053,589

Nature of Operations - Additional Information (Detail)	Aug. 20, 2015
Targacept
Organization and Nature of Operations [Line Items]
Stock split ratio	7

Assets and Liabilities Measured at Fair Value (Detail) - USD ($)
$ in Thousands

Mar. 31, 2016

Dec. 31, 2015

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

$ 57,962

$ 66,248

Liabilities, fair value

196

1,156

U.S. Government Agency Securities

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[1]

6,411

Municipal Bonds

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[1]

295

296

Corporate Notes

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[1]

381

3,106

Money Market Funds

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[2]

19,762

28,927

Restricted cash (money market funds)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

31,113

^[3]

33,919

^[4]

Derivative liability

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities, fair value

196

1,156

Fair Value, Inputs, Level 1

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

57,286

62,846

Fair Value, Inputs, Level 1 | U.S. Government Agency Securities

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[1]

6,411

Fair Value, Inputs, Level 1 | Money Market Funds

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[2]

19,762

28,927

Fair Value, Inputs, Level 1 | Restricted cash (money market funds)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

31,113

^[3]

33,919

^[4]

Fair Value, Inputs, Level 2

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

676

3,402

Fair Value, Inputs, Level 2 | Municipal Bonds

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[1]

295

296

Fair Value, Inputs, Level 2 | Corporate Notes

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[1]

381

3,106

Fair Value, Inputs, Level 3

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities, fair value

196

1,156

Fair Value, Inputs, Level 3 | Derivative liability

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities, fair value

$ 196

$ 1,156

[1]	Included in Short Term Investments on accompanying condensed consolidated balance sheet.
[2]	Included in Cash and Cash Equivalents on accompanying condensed consolidated balance sheet.
[3]	$31.0 million of restricted cash in the Indenture serves as full collateral for the redeemable convertible notes and $125,000 of restricted cash serves as collateral for the Company's corporate credit card and deposit for its facility lease.
[4]	$33.8 million of restricted cash in the Indenture serves as full collateral for the redeemable convertible notes and $125,000 of restricted cash serves as collateral for the Company's corporate credit card and deposit for its facility lease.

Assets and Liabilities Measured at Fair Value (Parenthetical) (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	$ 30,988,000	$ 33,794,000
Collateral for Corporate Credit Card and Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	125,000	125,000
Collateral for Redeemable Convertible Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	$ 31,000,000	$ 33,800,000

Derivative Liability Measured at Estimated Fair Value Using Unobservable Inputs (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance as of December 31, 2015	$ 1,156
Change in fair value included in interest and other income	(875)
Gain on extinguishment of redeemable convertible notes	(85)
Balance as of March 31, 2016	$ 196

Fair Values of Derivative Liabilities Estimated Using Black-Scholes Valuation Model (Detail) - Derivative liability	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Expected term	1 year 9 months 4 days
Expected volatility	82.50%
Risk-free interest rate	0.73%
Expected dividend yield	0.00%

Cash Equivalents and Short-Term and Long-Term Investments Classified as Available for Sale Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 57,958	$ 66,247
Gross Unrealized Gains	4	2
Gross Unrealized Losses		(1)
Estimated Fair Value	57,962	66,248
Money Market Funds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	19,762	28,927
Estimated Fair Value	19,762	28,927
Money Market Funds \| Restricted cash (money market funds)
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	31,113	33,919
Estimated Fair Value	31,113	33,919
U.S. Government Agency Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,408
Gross Unrealized Gains	3
Estimated Fair Value	6,411
Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	295	295
Gross Unrealized Gains		1
Estimated Fair Value	295	296
Corporate Notes
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	380	3,106
Gross Unrealized Gains	1	1
Gross Unrealized Losses		(1)
Estimated Fair Value	381	3,106
Cash Equivalents
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value	19,762	28,927
Short-Term Investments
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value	$ 7,087	$ 3,402

Financial Instruments - Additional Information (Detail)	3 Months Ended
Financial Instruments - Additional Information (Detail)	Mar. 31, 2016 USD ($)
Financial Instrument [Line Items]
Significant realized gains or losses on available-for-sale securities	$ 0
Maximum
Financial Instrument [Line Items]
Available for sale securities contractual maturities	1 year

Convertible Notes - Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2016	Mar. 31, 2015	May 31, 2015
Debt Instrument [Line Items]
Interest expense related to accrued interest and amortization of debt discount		$ 0	$ 0
Series F Convertible Preferred Stock
Debt Instrument [Line Items]
Convertible notes, shares issued upon conversion	1,511,723
Convertible preferred stock, warrants issued	372,045
Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount of convertible promissory notes issued and sold	$ 1,900
Convertible notes, accrued interest	30
Related Party \| Convertible Notes Payable
Debt Instrument [Line Items]
Aggregate principal amount of convertible promissory notes issued and sold	$ 1,900			$ 1,900
Convertible debt interest rate	12.00%
Debt instrument maturity period	1 year

Redeemable Convertible Notes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Aug. 19, 2015
Debt Instrument [Line Items]
Gain on extinguishment of redeemable convertible notes	$ 85
Convertible Notes
Debt Instrument [Line Items]
Convertible notes, total outstanding principal amount			$ 37,000
Redeemable convertible notes, conversion per share price	$ 9.19		$ 1.08
Convertible notes, maturity date	Feb. 19, 2018
Convertible notes, maturity period	30 months
Redeemable convertible notes, threshold trading days	10 days
Redeemable convertible notes, conversion feature	$ 1,500
Redeemable convertible notes, expected term	2 years 3 months
Redeemable convertible notes, risk free interest rate	0.84%
Redeemable convertible notes, expected volatility	70.00%
Redeemable convertible notes, dividend yield	0.00%
Redeemable convertible notes, estimated fair value	$ 37,100
Redeemable convertible notes, debt discount	1,400
Redeemable convertible notes, interest expense	0	$ 0
Redeemable convertible notes, redeemed	5,800
Conversion of convertible notes in to common stock, value	$ 300
Convertible Notes \| After Reverse Stock Split
Debt Instrument [Line Items]
Redeemable convertible notes, conversion per share price	$ 9.19		$ 7.56

Stock Based Compensation - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016 USD ($)
Merger Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock exchange rate	3.82%
2004 Stock Plan \| Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized employee stock based compensation expense	$ 1.5
Unrecognized employee stock based compensation expense, period for recognition	3 years 2 months 5 days

Summary of Option Activity (Detail)	3 Months Ended
Summary of Option Activity (Detail)	Mar. 31, 2016 $ / shares shares
Number of Shares Underlying Outstanding Options
Number of Shares Underlying Outstanding Options, Beginning Balance \| shares	2,199,509
Number of Shares Underlying Outstanding Options, Options granted \| shares	11,500
Number of Shares Underlying Outstanding Options, Options exercised \| shares	0
Number of Shares Underlying Outstanding Options, Options canceled \| shares	0
Number of Shares Underlying Outstanding Options, Options forfeited \| shares	(3,815)
Number of Shares Underlying Outstanding Options, Ending Balance \| shares	2,207,194
Number of Shares Underlying Outstanding Options, Exercisable - March 31, 2016 \| shares	1,604,253
Number of Shares Underlying Outstanding Options, Vested and expected to vest - March 31, 2016 \| shares	2,148,017
Weighted- Average Exercise Price
Weighted- Average Exercise Price, Beginning Balance \| $ / shares	$ 9.84
Weighted- Average Exercise Price, Options exercised, Options granted \| $ / shares	2.17
Weighted- Average Exercise Price, Options exercised \| $ / shares	0
Weighted- Average Exercise Price, Options canceled \| $ / shares	0
Weighted- Average Exercise Price, Options forfeited \| $ / shares	4.68
Weighted- Average Exercise Price, Ending Balance \| $ / shares	9.81
Weighted- Average Exercise Price, Exercisable - March 31, 2016 \| $ / shares	11.80
Weighted- Average Exercise Price, Vested and expected to vest - March 31, 2016 \| $ / shares	$ 9.95
Weighted Average Remaining Contractual Term
Outstanding - December 31, 2015	4 years 6 months 4 days
Outstanding - March 31, 2016	4 years 3 months 11 days
Exercisable - March 31, 2016	2 years 3 months 26 days
Vested and expected to vest - March 31, 2016	4 years 1 month 21 days

Fair Values of Stock Options Estimated Using Black-Scholes Valuation Model (Detail) - Employee Stock Option - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Black Scholes Method Used [Line Items]
Risk-free interest rate	1.57%	1.42%
Expected term (in years)	6 years 15 days	5 years 5 months 9 days
Dividend yield	0.00%	0.00%
Volatility	73.28%	65.24%
Weighted-average fair value of stock options granted	$ 1.41	$ 1.79

Summary of Stock-Based Compensation Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 153	$ 44
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	50	11
General and Administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 103	$ 33

Collaborations - Additional Information (Detail) $ in Thousands				3 Months Ended
	Apr. 02, 2015	Aug. 20, 2013 USD ($) Licenses	Jun. 16, 2013 USD ($)	Mar. 31, 2016 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Contract revenue				$ 109	$ 672
Pfizer Inc
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Number of Non-refundable annual license maintenance payments \| Licenses		2
Non-refundable annual license maintenance payments		$ 1,500
Effective termination notice period	60 days
Collaboration contract revenue				0	600
Pfizer Inc \| Period 1
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
license maintenance payable period		Aug. 01, 2014
Pfizer Inc \| Period 2
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
license maintenance payable period		Aug. 01, 2013
ISU Abxis
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Contract revenue				100	$ 100
Deferred revenue				$ 600		$ 700
Deferred revenue recognition period				4 years
ISU Abxis \| Up Front Payment
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Amount received for research and development process			$ 1,750

Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net loss, basic and diluted	$ (3,592)	$ (2,858)
Weighted-average number of shares used in computing net loss per share, basic and diluted	11,430,106	372,489
Net loss per share, basic and diluted	$ (0.31)	$ (7.67)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Anti-dilutive Security not Included In Diluted per Share Calculations (Detail) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities	5,755,869	6,053,589
Options To Purchase Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities	2,208,575	2,200,890
Common Stock Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities	180,954	180,954
Redeemable Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities	3,366,340	3,671,745