Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summarizes Stock Option Activity Under Equity Intensive Plan

The following table summarizes stock option activity under the equity incentive plans for the nine months ended September 30, 2015:

	Number of Shares			Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted- Average Remaining Contractual Life (in years)
Outstanding at December 31, 2014		5,137,914
Options granted		5,713,899		$	7.92
Options forfeited		(7,715	)	$	0.42
Options exercised		(1,032,742	)	$	0.82
Outstanding at September 30, 2015		9,811,356		$	4.97	$	83,335		7.65
Vested and Exercisable at September 30, 2015		4,046,009		$	5.32	$	34,694		8.18

Summary of Options Outstanding and Vested

The following table provides a summary of options outstanding and vested as of September 30, 2015:

Exercise Prices		Number Outstanding		Weighted- Average Life (in Years)		Number Exercisable		Weighted- Average Life (in Years)
$0.22			1,404,060		8.46		987,472		8.46
$0.42			1,115,144		8.84		949,281		8.78
$1.76			1,578,253		9.20		357,420		9.20
$2.00			2,406,949		9.37		792,673		9.37
$2.20			1,851,500		3.48		231,438		3.48
$	25.00		1,455,450		6.73		727,725		6.73
			9,811,356		7.65		4,046,009		8.18

Weighted Average Assumptions of Fair Value of Stock Options Under Black-Scholes Option Pricing Model

The Company uses a Black-Scholes option-pricing model to determine the fair value of stock-based compensation under ASC Topic 718, Stock Compensation. The assumptions used for employee and non-employee stock options are presented in the table below:

	Nine Months Ended September 30,
	2015				2014
	Employee Grants		Non-Employee Grants		Employee Grants		Non-Employee Grants
Expected term (years)	4.00-5.52			10.00	5.00-5.52			10.00
Risk-free interest rate	1.45%-1.79%			2.14%	1.58%-1.89%			2.70%
Expected volatility		80%		80%		91%		91%
Dividend yield		0%		0%		0%		0%
Weighted-average grant date fair value	$12.08		$5.19		$0.16		$0.19

Restricted Stock Units Activity

The following table summarizes the restricted stock units activity under the 2015 Plan:

	Number of Restricted Stock Units Outstanding			Weighted-Average Grant Date Fair Value
Unvested balance at December 31, 2014		-
Granted		970,300		$	25.00
Vested, net of shares withheld for employee payroll taxes		(388,538	)	$	25.00
Shares withheld for employee payroll taxes		(96,612	)	$	25.00
Unvested balance at September 30, 2015		485,150		$	25.00

Stock Based Compensation Expenses Included in Operations Statement

The following table presents all stock-based compensation as included in the Company’s condensed consolidated statements of operations:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Stock-based compensation expense:
Warrants for Class A common stock to an officer and a director related to Inex Bio, Inc. acquisition (Note 3)	$	—	$	—	$	22,747	$	—
Warrants for Class A common stock to an officer		4,745		—		80,663
Employee stock options		16,424		26		20,033		190
Non-employee stock options		784		3		3,074		6
Restricted stock units		14,150		—		14,150		—
	$	36,103	$	29	$	140,667	$	196
Stock-based compensation expense in operating expenses:
Research and development	$	364	$	—	$	1,140	$	—
Selling, general and administrative		35,739		29		139,527		196
	$	36,103	$	29	$	140,667	$	196