DEI Document - USD ($)	12 Months Ended
DEI Document - USD ($)	Dec. 31, 2015	Feb. 29, 2016	Jun. 30, 2015
Entity [Abstract]
Entity Registrant Name	Bellicum Pharmaceuticals, Inc.
Entity Central Index Key	0001358403
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q4
Amendment Flag	false
Entity Common Stock, Shares Outstanding		26,931,881
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 395,442,502

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 70,241	$ 191,602
Investment securities, available for sale - short-term	23,820	0
Accounts receivable – interest and other receivables	440	298
Prepaid expenses and other current assets	2,389	1,322
Total current assets	96,890	193,222
Investment securities, available for sale - long-term	56,304	0
Property and equipment, net	6,882	2,427
Other assets	330	145
TOTAL ASSETS	160,406	195,794
Current liabilities:
Accounts payable	2,106	1,209
Accrued expenses and other current liabilities	5,080	2,163
Deferred revenue	0	13
Current portion of capital lease obligation	13	0
Current portion of deferred rent	246	97
Current portion of deferred manufacturing costs	0	154
Total current liabilities	7,445	3,636
Long-term liabilities:
Capital lease obligation	118	0
Deferred rent	826	209
Deferred manufacturing costs	0	313
TOTAL LIABILITIES	$ 8,389	4,158
Commitments and contingencies: (Note 12)
Stockholders’ Equity:
Common stock: $0.01 par value; 200,000,000 shares authorized at December 31, 2015 and 2014; 27,609,344 shares issued and 26,931,881 shares outstanding at December 31, 2015; 27,050,055 shares issued and 26,372,592 shares outstanding at December 31, 2014	$ 276	271
Treasury stock: 677,463 shares held at December 31, 2015 and 2014	(5,056)	(5,056)
Additional paid-in capital	318,591	309,365
Accumulated other comprehensive loss	(302)	0
Accumulated deficit	(161,492)	(112,944)
Total stockholders’ equity	152,017	191,636
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 160,406	$ 195,794

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	27,609,344	27,050,055
Common stock, outstanding (in shares)	26,931,881	26,372,592
Treasury stock (in shares)	677,463	677,463

Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES
Grants	$ 282	$ 1,780	$ 1,941
Total revenues	282	1,780	1,941
OPERATING EXPENSES
Research and development	33,561	12,071	7,899
License fees	3,184	0	0
ARIAD restructuring costs	0	43,212	0
General and administrative	12,672	4,335	1,964
Total operating expenses	49,417	59,618	9,863
LOSS FROM OPERATIONS	(49,135)	(57,838)	(7,922)
OTHER INCOME (EXPENSE)
Interest income	641	35	4
Interest expense	(12)	(1,791)	(51)
Loss on disposal of assets	(42)	0	0
Change in fair value of warrant liability	0	(24,371)	0
Total other income (expense)	587	(26,127)	(47)
NET LOSS	(48,548)	(83,965)	(7,969)
Preferred stock dividends	0	(1,432)	(1,093)
Net loss attributable to common stockholders	$ (48,548)	$ (85,397)	$ (9,062)
Net loss per share attributable to common shareholders - basic and diluted	$ (1.84)	$ (34.04)	$ (5.05)
Weighted-average shares outstanding-basic and diluted	26,346,603	2,508,960	1,795,992
Net Loss	$ (48,548)	$ (83,965)	$ (7,969)
Other comprehensive loss:
Unrealized loss on securities, net	(302)	0	0
Comprehensive loss	$ (48,850)	$ (83,965)	$ (7,969)

Statements of Redeemable and Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Preferred Stock [Member] Series A Preferred Stock [Member]	Preferred Stock [Member] Series B Preferred Stock [Member]	Preferred Stock [Member] Series C Preferred Stock [Member]	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Other Comprehensive Loss [Member]
Balance, beginning of period (in shares) at Dec. 31, 2012		(2,544,539)	(2,849,929)	0	(1,725,992)	0
Balance, beginning of period at Dec. 31, 2012	$ (19,474)	$ 7,634	$ 14,024	$ 0	$ 17	$ 0	$ 1,519	$ (21,010)	$ 0
Increase (Decrease) in Stockholders' Equity
Share-based compensation	391						391
Conversion of preferred stock (in shares)			757,497
Conversion of preferred stock	0		$ 3,503
Issuance of preferred stock, net of issuance costs (in shares)			2,955,857
Issuance of preferred stock, net of issuance costs	(6)		$ 13,671				(6)
Accretion of Series B preferred stock to redemption value	(1,094)		$ 1,094				(1,094)
Net Loss	(7,969)							(7,969)
Balance, end of period (in shares) at Dec. 31, 2013		(2,544,539)	(6,563,283)	0	(1,725,992)	0
Balance, end of period at Dec. 31, 2013	(28,152)	$ 7,634	$ 32,292	$ 0	$ 17	$ 0	810	(28,979)	0
Increase (Decrease) in Stockholders' Equity
Share-based compensation	911						911
Issuance of restricted stock grant (in shares)					117,647
Issuance of restricted stock grant	$ 0				$ 1		(1)
Exercise of stock options (in shares)	12,615				12,615
Exercise of stock options	$ 11						11
Issuance of common stock in an IPO, net of issuance costs (in shares)					8,452,500
Issuance of common stock in an IPO, net of issuance costs	146,303				$ 85		146,218
Conversion of preferred stock (in shares)		(2,544,539)	(8,145,989)	(16,615,938)	16,230,777
Conversion of preferred stock	162,766	$ (7,634)	$ (40,871)	$ (114,261)	$ 163		162,603
Issuance of preferred stock, net of issuance costs (in shares)			1,582,706	10,091,743
Issuance of preferred stock, net of issuance costs	0		$ 7,320	$ 42,074
Exercise of Series C warrants, net of issuance costs (in shares)				6,524,195
Exercise of Series C warrants, net of issuance costs	0			$ 72,187
Exercise of common warrants (in shares)					510,524
Exercise of common warrants	250				$ 5		245
Accretion of Series B dividend	(1,432)		1,432				(1,432)
Payment of Series B dividend	0		$ (173)
Repurchase of common stock held by ARIAD (in shares)						(677,463)
Repurchase of common stock held by ARIAD	(5,056)					$ (5,056)
Net Loss	(83,965)							(83,965)
Balance, end of period (in shares) at Dec. 31, 2014		0	0	0	(27,050,055)	(677,463)
Balance, end of period at Dec. 31, 2014	191,636	$ 0	$ 0	$ 0	$ 271	$ (5,056)	309,365	(112,944)	0
Increase (Decrease) in Stockholders' Equity
Share-based compensation	$ 8,409						8,409
Exercise of stock options (in shares)	182,238				182,238
Exercise of stock options	$ 482				$ 1		481
Issuance of common stock - Employee Stock Purchase Plan (in shares)					21,690
Issuance of common stock - Employee Stock Purchase Plan	347						347
Exercise of common warrants (in shares)					355,361
Exercise of common warrants	0				$ 4		(4)
Other	(7)						(7)
Net Loss	(48,548)
Comprehensive loss	(48,850)							(48,548)	(302)
Balance, end of period (in shares) at Dec. 31, 2015		0	0	0	(27,609,344)	(677,463)
Balance, end of period at Dec. 31, 2015	$ 152,017	$ 0	$ 0	$ 0	$ 276	$ (5,056)	$ 318,591	$ (161,492)	$ (302)

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (48,548,000)	$ (83,965,000)	$ (7,969,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	1,199,000	667,000	587,000
Share-based compensation	8,409,000	911,000	391,000
Loss on disposal of property and equipment	42,000	0	0
Loss on disposition of investment securities	33,000	0	0
Amortization of lease liability	(94,000)	(89,000)	(95,000)
Amortization of premium on investment securities, net	573,000	0	0
Interest expense converted into preferred stock	0	0	3,000
Change in fair value of warrant liability	0	24,371,000	0
Changes in operating assets and liabilities:
Accounts receivable	(142,000)	448,000	(745,000)
Prepaid expenses and other current assets	(1,067,000)	(1,068,000)	592,000
Other assets	(185,000)	339,000	(287,000)
Accounts payable	897,000	659,000	(1,000)
Accrued liabilities and other	2,778,000	225,000	698,000
Deferred revenue – grants	(13,000)	13,000	(1,039,000)
Deferred rent	859,000	5,000	14,000
Deferred manufacturing costs	(467,000)	176,000	239,000
NET CASH USED IN OPERATING ACTIVITIES	(35,726,000)	(57,308,000)	(7,612,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investment securities	(101,649,000)	0	0
Proceeds from sale of investment securities	20,617,000	0	0
Purchases of property and equipment	(5,421,000)	(804,000)	(366,000)
CASH USED IN INVESTING ACTIVITIES	(86,453,000)	(804,000)	(366,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	347,000	160,609,000	0
Proceeds from exercise of stock options	482,000	0	0
Payment of issuance costs on common stock	(7,000)	(14,242,000)	0
Proceeds from issuance of preferred stock	0	62,320,000	13,671,000
Payment of issuance costs on preferred stock	0	(3,524,000)	(7,000)
Proceeds from exercise of preferred warrants	0	39,145,000	0
Proceeds from exercise of common warrants	0	250,000	0
Payment for repurchase of common stock	0	(5,056,000)	0
Payment of preferred dividends	0	(155,000)	0
Payment on capital lease obligation	(4,000)	0	0
Proceeds from notes payable	0	0	3,500,000
Proceeds from line of credit	0	386,000	550,000
Payments on line of credit	0	(1,187,000)	(200,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES	818,000	238,546,000	17,514,000
NET CHANGE IN CASH AND CASH EQUIVALENTS	(121,361,000)	180,434,000	9,536,000
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	191,602,000	11,168,000	1,632,000
CASH AND CASH EQUIVALENTS AT END OF YEAR	70,241,000	191,602,000	11,168,000
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for interest	0	1,767,000	47,000
NON-CASH INVESTING AND FINANCING ACTIVITIES
Dividends accreted on preferred stock	0	1,432,000	1,094,000
Conversion of notes payable into preferred stock	0	0	3,500,000
Preferred stock dividends paid in common stock	0	3,196,000	0
Capital lease obligation incurred for property and equipment	135,000	0	0
Noncash or Part Noncash Acquisition, Fixed Assets Acquired	$ 139,000	$ 0	$ 0

ORGANIZATION AND BUSINESS DESCRIPTION	12 Months Ended
ORGANIZATION AND BUSINESS DESCRIPTION	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS DESCRIPTION	ORGANIZATION AND BUSINESS DESCRIPTION Bellicum Pharmaceuticals, Inc. (the Company or Bellicum), was incorporated in Delaware in July 2004 and is based in Houston, Texas. The Company is a clinical stage biopharmaceutical company focused on discovering and developing novel cellular immunotherapies for various forms of cancer, including both hematological cancers and solid tumors, as well as orphan inherited blood disorders. The Company is devoting substantially all of its present efforts to developing next-generation product candidates in some of the most important areas of cellular immunotherapy, including, hematopoietic stem cell transplantation, CAR-T and TCR cell therapy. The Company has not generated any revenue from product sales to date and does not anticipate generating revenues from product sales in the foreseeable future. The Company is subject to risks common to companies in the biotechnology industry and the future success of the Company is dependent on its ability to successfully complete the development of and obtain regulatory approval for its product candidates, manage the growth of the organization, obtain additional financing necessary in order to develop, launch and commercialize its product candidates, and compete successfully with other companies in its industry.

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. Any reference in these footnotes to applicable guidance is meant to refer to the authoritative U.S. generally accepted accounting principles (GAAP) as found in the Accounting Standards Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB).

Use of Estimates

The preparation of the financial statements in accordance with GAAP requires management to make certain estimates and judgments that affect the reported amounts of assets, liabilities, and expenses. Actual results could differ from those estimates.

Prior to becoming a public company, the Company utilized significant estimates and assumptions in determining the fair value of its common stock for financial reporting purposes. Historically, prior to the Company’s initial public offering (IPO) of its common stock, in December 2014, the fair values of the shares of common stock underlying the Company’s share-based awards were estimated on each grant date by its board of directors. Given the absence of a public trading market for the Company’s common stock, its board of directors exercised reasonable judgment and considered a number of objective and subjective factors to determine the best estimate of the fair value of its common stock, including its stage of development; its operational and financial performance; the nature of its services and its competitive position in the marketplace; the value of companies that it considers peers based on a number of factors, including similarity to the Company with respect to industry and business model; the likelihood of achieving a liquidity event, such as an initial public offering and the nature and history of its business; issuances of preferred stock and the rights, preferences, and privileges of its preferred stock relative to those of its common stock; business conditions and projections; the history of the Company and progress of its research and development efforts and clinical trials; and the lack of marketability of its common stock.

Revenue Recognition

The Company has not yet generated any revenue from product sales. The Company’s sole source of revenue has been grant revenue related to a $5.7 million research grant received from the Cancer Prevention and Research Institute of Texas (CPRIT), covering a three-year period from July 1, 2011 through June 30, 2014, and a $1.0 million research grant from the National Institutes of Health (NIH) covering the period from April 2013 to March 2016. Grant payments received prior to the Company’s performance of work required by the terms of the research grant are recorded as deferred revenue and recognized as grant revenue once work is performed and qualifying costs are incurred. (See Note 10).

Cash and Cash Equivalents

The Company considers all short-term, highly liquid investments with maturity of three months or less from the date of purchase to be cash equivalents.

Investment Securities

Consistent with its investment policy, the Company invests its cash allocated to fund its short-term liquidity requirements with prominent financial institutions in bank depository accounts and institutional money market funds. The Company invests the remainder of its cash in corporate debt securities and municipal bonds rated at least A quality or equivalent, U.S. Treasury notes and bonds and U.S. and state government agency-backed securities.

The Company determines the appropriate classification of investment securities based on their maturity dates at the time of purchase and reevaluates its classification as of each balance sheet date. All investment securities owned were classified as available-for-sale. The cost of securities sold is based on the specific identification method. Investment securities are recorded as of each balance sheet date at fair value, with unrealized gains and, to the extent deemed temporary, unrealized losses included in stockholders’ equity. Interest and dividend income on investment securities, accretion of discounts and amortization of premiums and realized gains and losses are included in interest income in the statements of operations and comprehensive income (loss).

An investment security is considered to be impaired when a decline in fair value below its cost basis is determined to be other than temporary. The Company evaluates whether a decline in fair value of an investment security is below its cost basis is other than temporary using available evidence. In the event that the cost basis of the investment security exceeds its fair value, the Company evaluates, among other factors, the amount and duration of the period that the fair value is less than the cost basis, the financial health of and business outlook for the issuer, including industry and sector performance, and operational and financing cash flow factors, overall market conditions and trends, the Company’s intent to sell the investment security and whether it is more likely than not the Company would be required to sell the investment security before its anticipated recovery. If a decline in fair value is determined to be other than temporary, the Company records an impairment charge in the statement of comprehensive loss and establishes a new cost basis in the investment.

Property and Equipment

Leasehold improvements, furniture, lab equipment or other equipment and software are recorded at cost and are depreciated using the straight-line method over the estimated useful lives of the related assets, which range from three to five years. Leasehold improvements are amortized over the shorter of the estimated useful life or the remaining lease term.

Impairment of Long-Lived Assets

The Company reviews long-lived assets for impairment when events or changes in business conditions indicate that their carrying value may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. There were no impairment charges related to long-lived assets for the years ended December 31, 2015, 2014 and 2013.

Deferred Rent

The Company recognizes rent expense for leases with increasing annual rents on a straight-line basis over the term of the lease. The amount of rent expense in excess of cash payments is classified as deferred rent. Any lease incentives received are deferred and amortized over the term of the lease.

Clinical Trials

The Company estimates its clinical trial expense accrual for a given period based on the number of patients enrolled at each site, estimated cost per patient, and the length of time each patient has been in the trial, less amounts previously billed. These accruals are recorded in accrued expenses and other current liabilities, and the related expense is recorded in research and development expense.

Fair Value of Financial Instruments

Accounting standards include disclosure requirements around fair values used for certain financial instruments and establish a fair value hierarchy. The three-tier hierarchy prioritizes valuation inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market, as described further in Note 4.

The Company believes the recorded values of its financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities approximate their fair values due to the short-term nature of these instruments.

Financial Instruments and Credit Risks

Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents, investment securities, accounts receivable. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation (FDIC) and Security Investor Protection Corporation (SIPC). Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits.

Equity Issuance Costs

Equity issuance costs represent costs paid to third parties in order to obtain equity financing. These costs have been netted against the proceeds of the equity issuances.

Licenses and Patents

Licenses and patent costs for technologies that are utilized in research and development and have no alternative future use are expensed as incurred. Costs related to the license of patents from third parties and internally developed patents are classified as research and development expenses. Legal costs related to patent applications and maintenance are classified as general and administrative expenses.

Research and Development

Research and development expenses consist of expenses incurred in performing research and development activities, including compensation and benefits for research and development employees and consultants, facilities expenses, overhead expenses, cost of laboratory supplies, manufacturing expenses, fees paid to third parties and other outside expenses.

Research and development costs are expensed as incurred. Clinical trial and other development costs incurred by third parties are expensed as the contracted work is performed. The Company accrues for costs incurred as the services are being provided by monitoring the status of the clinical trial or project and the invoices received from its external service providers. The Company estimates depend on the timeliness and accuracy of the data provided by the vendors regarding the status of each project and total project spending. The Company adjusts its accrual as actual costs become known. Where contingent milestone payments are due to third parties under research and development arrangements, the milestone payment obligations are expensed when the milestone events are achieved.

Reclassifications

Certain research and development indirect costs, including facilities and overhead, were previously included in general and administrative costs. These research and development indirect costs are included in research and development expense for the year ended December 31, 2015. The results for the year ended December 31, 2014 and 2013, have been reclassified to conform to the current year presentation. The effect of the reclassification of the results for the years ended December 31, 2014 and 2013, was to increase research and development expense and reduce general and administrative expense by $1.1 million and $0.8 million, respectively, with no change in total operating expense or net loss.

Contract Manufacturing Services

Contract manufacturing services are expensed as incurred. Prepaid expenses are capitalized and amortized as services are performed.

Share-Based Compensation

The Company accounts for its share-based compensation in accordance with ASC 718, Compensation — Stock Compensation, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors to be recognized in the financial statements, based on their fair value. The Company measures share-based compensation to consultants in accordance with ASC 505-50, Equity-Based Payments to Non-Employees, and recognizes the fair value of the award over the period the services are rendered or goods are provided.

The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock option awards. The fair value is recognized as expense, net of estimated forfeitures, over the requisite service period, which is generally the vesting period of the respective award on a straight-line basis. Prior to the Company’s IPO on December 23, 2014, the determination of the grant date fair value of options using the Black-Scholes option-pricing model was affected by the Company’s estimated common stock fair value, as well as assumptions regarding a number of other complex and subjective variables.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. This method also requires the recognition of future tax benefits such as net operating loss and tax credit carry forwards, to the extent that realization of such benefits is more likely than not. A valuation allowance is recorded when the realization of future tax benefits is uncertain. The Company records a valuation allowance for the full amount of deferred tax assets, which would otherwise be recorded for tax benefits relating to the operating loss and tax credit carryforwards, as realization of such deferred tax assets cannot be determined to be more likely than not.

Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations in the period that includes the enactment date.

The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740, Income Taxes. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of December 31, 2015, 2014 and 2013, the Company had no uncertain tax positions and no interest or penalties have been charged to the Company for the years ended December 31, 2015, 2014 and 2013. If incurred, the Company will classify any interest and penalties as a component of interest expense and operating expense, respectively. The Company is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The tax years 2004 through 2015 remain open to examination by the Internal Revenue Service.

Comprehensive Loss

Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period, from transactions, and other events and circumstances from non-owner sources. Components of comprehensive income (loss) includes, among other items, unrealized gains and losses on the changes in fair value of investments. These components are added, net of their related tax effect, to the reported net income (loss) to arrive at comprehensive income (loss). The components of accumulated other comprehensive loss at December 31, 2015, on the Company’s balance sheet was comprised of the net unrealized holding losses on the Company’s investment securities. There was no similar accumulated other comprehensive income or loss components at December 31, 2014 and 2013. See Note 4 for further detail of the unrealized holding gains and losses on the Company’s investment securities.

Net Loss and Net Loss per Share of Common Stock Attributable to Common Stockholders

Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of share of common stock outstanding during the period without consideration for common stock equivalents. Diluted net loss per share of common stock is the same as basic net loss per share of common stock, since the effects of potentially dilutive securities are antidilutive. The net loss per share of common stock attributable to common stockholders is computed using the two-class method required for participating securities. All series of the Company’s convertible preferred stock are considered to be participating securities as they are entitled to participate in undistributed earnings with shares of common stock. Due to the Company’s net loss, there is no impact on the earnings per share calculation in applying the two-class method since the participating securities have no legal requirement to share in any losses.

The following outstanding shares of common stock equivalents were excluded from the computations of diluted net loss per shares of common stock attributable to common stockholders for the periods presented as the effect of including such securities would be anti-dilutive.



	Number of shares
	December 31, 2015	December 31, 2014	December 31, 2013
Series A Convertible Preferred Stock - as converted to common stock	—	—	1,496,782
Series B Convertible Preferred Stock - as converted to common stock	—	—	3,860,754
Warrants to purchase common stock	—	—	866,570
Options to purchase common stock	3,628,973	2,733,793	1,574,398
Stock dividends to be issued as payment for Series B dividends	—	—	101,951
Unvested shares of restricted stock	88,236	117,647	—
Total common stock equivalents	3,717,209	2,851,440	7,900,455

Recently Issued Accounting Pronouncements

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers”, which amends FASB ASC Topic 606. ASU 2014-09 provides a single, comprehensive revenue recognition model for all contracts with customers. This standard contains principles for the determination of the measurement of revenue and the timing of when such revenue is recognized. Revenue recognition will reflect the transfer of goods or services to customers at an amount that is expected to be earned in exchange for those goods or services. ASU 2014-09 was scheduled to be effective for annual reporting periods beginning after December 15, 2016, and early adoption was not permitted. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers: Deferral of Effective Date”, which defers the effective date of ASU 2014-09 by one year. ASU 2014-19 is now effective for annual periods after December 15, 2017 including interim periods within that reporting period. Early application is permitted only for annual periods beginning after December 15, 2016, including interim periods within that reporting period. Management is currently evaluating the impact of this pronouncement on the Company’s financial statements.

In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” ASU 2014-15 will explicitly require management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is permitted. Management does not expect the adoption of this pronouncement to have a material impact on the Company’s financial statements.

In November 2015, the FASB issued ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes." ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This pronouncement is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period. The Company elected to adopt this standard as of December 31, 2015, prospectively and the Company does not believe the adoption of this standard will have a material impact on the Company’s financial statements.

In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 requires that most equity investments be measured at fair value, with subsequent changes in fair value recognized in net income. The pronouncement also impacts financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is not permitted. Management does not expect the adoption of this pronouncement to have a material impact on the Company’s financial statements.

In February 2016, the FASB issued ASU No. 2016-02, “Leases.” ASU 2016-01 requires companies that lease assets to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The pronouncement will also require additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. Management is currently evaluating the impact of this pronouncement on the Company’s statements.

The Company has evaluated other recent accounting pronouncements and believes that none of them will have a material effect on the Company’s financial statements.

CASH AND CASH EQUIVALENTS	12 Months Ended
CASH AND CASH EQUIVALENTS	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS As of December 31, 2015 and 2014, the Company invested approximately $62.2 million and $43.6 million, respectively, in cash equivalent instruments.

- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

+ References + Details

FAIR VALUE OF MEASUREMENTS AND INVESTMENT SECURITIES

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

FAIR VALUE OF MEASUREMENTS AND INVESTMENT SECURITIES

The Company follows ASC, Topic 820, Fair Value Measurements and Disclosures, or ASC 820, for application to financial assets. ASC 820 defines fair value, provides a consistent framework for measuring fair value under GAAP and requires fair value financial statement disclosures. ASC 820 applies only to the measurement and disclosure of financial assets that are required or permitted to be measured and reported at fair value under other ASC topics (except for standards that relate to share-based payments such as ASC Topic 718, Compensation – Stock Compensation).

The valuation techniques required by ASC 820 may be based on either observable or unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, and unobservable inputs reflect the Company’s market assumptions.

These inputs are classified into the following hierarchy:

Level 1 Inputs – quoted prices (unadjusted) in active markets for identical assets that the reporting entity has the ability to access at the measurement date;

Level 2 Inputs – inputs other than quoted prices included within Level 1 that are observable for the asset, either directly or indirectly; and

Level 3 Inputs – unobservable inputs for the assets.

The following tables present the Company’s investment securities (including, if applicable, those classified on the Company’s balance sheet as cash equivalents) that are measured at fair value on a recurring basis as of December 31, 2015 and 2014:



			Fair Value Measurements at Reporting Date Using
	Balance at December 31, 2015		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(in thousands)
Cash Equivalents:
Money market funds	$	52,714	$	52,714	$	—	$	—
U.S. government agency-backed securities	9,500		—		9,500		—
Total Cash Equivalents	$	62,214	$	52,714	$	9,500	$	—

Investment Securities:
U.S. government agency-backed securities	$	22,388	$	—	$	22,388	$	—
Corporate debt securities	51,547		—		51,547		—
Municipal bonds	6,189		—		6,189		—
Total Investment Securities	$	80,124	$	—	$	80,124	$	—

			Fair Value Measurements at Reporting Date Using
	Balance at December 31, 2014		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(in thousands)
Cash Equivalents:
Money market funds	$	43,587	$	43,587	$	—	$	—
Total Cash Equivalents	$	43,587	$	43,587	$	—	$	—

U.S. Treasury, U.S. or state government agency-backed securities, corporate debt securities and municipal bonds are valued based on various observable inputs such as benchmark yields, reported trades, broker/dealer quotes, benchmark securities and bids.

Investment securities, all classified as available-for-sale, consisted of the following as of December 31, 2015:



Investment Securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Aggregate Estimated Fair Value
	(in thousands)
U.S. government agency-backed securities	$	22,417	$	1	$	(30	)	$	22,388
Corporate debt securities	51,807		1		(261		)	51,547
Municipal bonds	6,200		—		(11		)	6,189
Total Investment Securities	$	80,424	$	2	$	(302	)	$	80,124

The Company's investment securities as of December 31, 2015, will reach maturity between January 2016 and July 2026, with a weighted-average maturity date in February 2017. There were no investment securities held at December 31, 2014.

- 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

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment consists of the following:



					December 31,
					2015			2014
	Estimated Useful Lives				(in thousands)
Leasehold improvements			5	years	$	4,092		$	1,506
Lab equipment			5	years	3,741			1,717
Office furniture			5	years	931			335
Software			3	years	109			75
Computer equipment	3	to	5	years	401			205
Equipment held under capital leases			5	years	135			—
Total					9,409			3,838
Less: accumulated depreciation					(2,527		)	(1,411		)
Property and equipment, net					$	6,882		$	2,427

During the years ended December 31, 2015, 2014, and 2013, the Company recorded $1.2 million, $0.7 million and $0.6 million of depreciation expense, respectively.

DEFERRED MANUFACTURING COSTS	12 Months Ended
DEFERRED MANUFACTURING COSTS	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
DEFERRED MANUFACTURING COSTS	DEFERRED MANUFACTURING COSTS At December 31, 2014, the Company had deferred manufacturing costs of $0.3 million and a credit against future manufacturing costs of $0.2 million, pursuant to a service agreement with a third party manufacturer. The deferred manufacturing cost was amortized as manufacturing batches of cell therapy products were produced and the credit was recognized monthly over the term of the agreement. In September 2015, the Company and the third party manufacturer agreed to amend the service agreement, pursuant to which both parties were released from all prior obligations except for a 30-day transition period during which the third party would continue to manufacture batches in process, not to exceed three batches. As a result of the amendment to the agreement, and the release of its obligations, the Company reversed the remaining deferred manufacturing costs and credit against future manufacturing costs, resulting in a decrease of $0.3 million in research and development expenses for the year ended December 31, 2015.

COMMON STOCK, PREFERRED STOCK AND WARRANTS (Notes)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

COMMON STOCK, PREFERRED STOCK AND WARRANTS

Common Stock

As of December 31, 2015 and 2014, the Company had 200,000,000 authorized shares of common stock with a par value of $0.01 per share.

Exercise of Common Warrants

In March 2014, the Company issued 393,523 shares of its common stock for $200,700, or $0.51 per share in connection with the exercise of warrants expiring in March 2014.

In December 2014, the Company issued 117,001 shares of common stock for $49,001, or $0.42 per share in connection with the exercise of warrants expiring in 2015.

In December 2015, the Company issued 355,361 shares of its common stock to the Texas Treasury Safekeeping Trust Company (a transferee of the Office of the Governor - Economic Development and Tourism), pursuant to the cashless exercise provision of a warrant to purchase shares of the Company’s common stock issued to the State of Texas on September 27, 2007. The Company did not receive any cash or other consideration.

Initial Public Offering

On December 17, 2014, the Company commenced its initial public offering (IPO) pursuant to a registration statement on Form S-1 (File No. 333- 200328) that was declared effective by the SEC on December 17, 2014 and that registered an aggregate of 7,350,000 shares of the Company’s common stock for sale to the public at a price of $19.00 per share. In addition, at the closing of the IPO on December 23, 2014, the underwriters exercised their over-allotment option to purchase 1,102,500 additional shares of the Company’s common stock at a price to the public of $19.00 per share, for an aggregate offering price of $160.6 million. The net offering proceeds to the Company, after deducting underwriting discounts, commissions and offering costs, were approximately $146.3 million.

Treasury Stock

In December 2014, in connection with the restructuring of the license agreement with ARIAD Pharmaceuticals, Inc. (ARIAD), the Company repurchased from ARIAD 677,463 shares of its common stock valued at approximately $5.1 million. See Note 11.

Preferred Stock

As of December 2015 and 2014, the Company had 10,000,000 authorized shares of preferred stock. There were no shares of preferred stock issued or outstanding at December 31, 2015 and 2014.

The Company had two series of convertible redeemable preferred stock issued and outstanding as of December 31, 2013: Series A convertible redeemable preferred stock (Series A) and Series B convertible redeemable preferred stock (Series B), each with a par value of $0.01. The shares of Series A were issued between March 2009 and November 2011 at a price of $3.00 per share. The shares of Series B were issued between November 2011 and January 2014 at a price of $4.625 per share. On August 22, 2014, the Company filed an amended restated Certificate of Incorporation pursuant to which the Company was authorized to issue Series C convertible preferred stock (Series C, and collectively with the Series A and Series B, the preferred stock), and certain changes were made to the rights, preferences and privileges of Series A and Series B.

On August 22, 2014, the Company issued 10,091,743 shares of Series C at a purchase price of $5.45 per share and warrants to purchase up to 6,559,598 shares of Series C with an exercise price of $6.00 per share. The warrants had a five year term, but were subject to earlier termination in the event of a Qualified IPO (as defined in the warrants) on or prior to March 31, 2015, or upon a merger or sale of the Company. The Company received net proceeds from the issuance of Series C preferred stock of $51.5 million, net of offering costs of $3.5 million. All of the preferred stock was converted to common stock upon the closing of the IPO, and no shares of preferred stock remained outstanding at December 31, 2015 and 2014.

The following table summarizes the Company’s preferred shares for the three years ended December 31, 2015:



	(in thousands, except shares)
	Series A							Series B										Series C
	Shares	Initial Value			Redemption Value				Shares		Initial Value				Redemption Value			Shares		Initial Value			Redemption Value
Outstanding January 1, 2013	2,544,539	$	7,634		$	7,634			2,849,929			$	13,181		$	14,024			—	$	—		$	—
Issuance of Series B preferred stock for cash, net	—	—			—				2,955,857			13,671			13,671				—	—			—
Conversion of debt and interest into Series B preferred stock									757,497			3,503			3,503
Accretion of Series B dividends												-			1,094
Outstanding December 31, 2013	2,544,539	$	7,634		$	7,634			6,563,283			$	30,355		$	32,292			—	$	—		$	—
Issuance of Series B preferred stock for cash, net	—	—			—				1,582,706			7,320			7,320
Issuance of Series C preferred stock for cash, net																			10,091,743	42,074			42,074
Issuance of Series C preferred stock on exercise of warrants																			6,524,195	72,187			72,187
Accretion of Series B dividends												-			1,432
Payment of Series B dividends															(173		)
Conversion to common stock	(2,544,539)	(7,634		)	(7,634		)		(8,145,989	)		(37,675		)	(40,871		)		(16,615,938)	(114,261		)	(114,261		)
Outstanding December 31, 2014	—	$	—		$	—			—			$	—		$	—			—	$	—		$	—

Outstanding December 31, 2015	—	$	—		$	—			—			$	—		$	—			—	$	—		$	—

The rights, preferences and privileges of the preferred stock, as of December 31, 2014, were as follows:

Optional Conversion

Each share of Series A, Series B and Series C was convertible, at the option of the holder at any time and without additional consideration, into one share of common stock. The conversion prices of the Series A, Series B and Series C were $3.00 per share, $4.625 per share and $5.45 per share, respectively. The rate at which shares of preferred stock were convertible into shares of common stock, was subject to anti-dilution protection in the event of certain dilutive issuances of capital stock.

Mandatory Conversion

Upon the closing of the IPO, all of the outstanding shares of preferred stock automatically converted into shares of the Company’s common stock, at a conversion ratio adjusted for the prior 1-for-1.7 reverse split of our common stock.

Dividends

Through August 22, 2014, the holders of Series B were entitled to receive an annual dividend, payable quarterly, if, as and when declared, and if not paid, accrued, equal to 6% of the Series B original issue price, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to Series B. This dividend was cumulative, but not compounded. No dividends or other distributions could be declared or paid with respect to the Series A or common stock, other than dividends payable solely in common stock, unless and until all dividends due on Series B have been paid or declared and set apart for payment. On August 22, 2014, the Series B dividend was made non-cumulative and cumulative Series B dividends of $3.4 million were declared and paid in December 2014 in conjunction with the IPO.

Warrants

Series C Warrants

In connection with the August 2014 issuance of Series C convertible preferred stock, Bellicum issued warrants to purchase 6,559,598 shares of Series C convertible preferred stock with an exercise price of $6.00 per share which were convertible into 3,858,549 common shares. The fair value of the warrants on the date of issuance of $9.4 million, as determined using the Black-Scholes option-pricing model, was recorded as a warrant liability. The Series C warrants were revalued both at September 30, 2014 to $10.6 million, and again at the time of exercise in December 2014 to $33.8 million. The increase in the calculated fair value from the issuance date to the remeasurement dates required the recording of a non-cash charge of $24.4 million in 2014, of which $23.2 million was a fourth quarter expense. Subsequent to the IPO in December 2014, 6,524,195 of the Series C warrants were exercised and converted into 3,837,727 shares of common stock. The Company received cash proceeds of approximately $39.2 million as a result of the Series C warrant exercise. Holders of 35,403 Series C warrants chose not to exercise their warrants, and those warrants have expired.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

SHARE-BASED COMPENSATION PLANS

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

SHARE-BASED COMPENSATION PLANS

The Company has four share-based compensation plans, which authorize the granting of shares of common stock and options to purchase common stock to employees and directors of the Company, as well as non-employee consultants, and allows the holder of the option to purchase common stock at a stated exercise price. Options vest according to the terms of the grant, which may be immediately or based on the passage of time, generally over four years, and have a term of up to 10 years. Unexercised stock options terminate on the expiration date of the grant. The Company recognizes the share-based compensation expense over the requisite service period of the individual grantees, which generally equals the vesting period.

2006 Stock Option Plan

The 2006 Stock Option Plan (the 2006 Plan) provided for the issuance of non-qualified stock options to employees, including officers, non-employee directors and consultants to the Company. A total of 151,410 and 167,056 options were outstanding under this plan as of December 31, 2015 and 2014. As of December 31, 2015, there were no additional shares available for grant under the 2006 Plan. Options under the 2006 Plan were exercised for cash proceeds to the Company of $6,980.

2011 Stock Option Plan

The 2011 Stock Option Plan (the 2011 Plan) provided for the issuance of incentive and non-qualified stock options to employees, including officers, non-employee directors and consultants to the Company. The 2011 Plan replaced the 2006 Plan. There were 2,256,120 and 2,425,561 outstanding options under this plan at December 31, 2015 and 2014, respectively. As of December 31, 2015, there were no additional shares available for grant under this plan. During 2015 and 2014, a total of 166,592 and 12,615 options outstanding under the 2011 Plan, respectively, were exercised for cash proceeds to the company of $0.5 million and $11,250, respectively.

2014 Equity Incentive Plan

The 2014 Equity Incentive Plan (the 2014 Plan) became effective in December 2014, upon the closing of the IPO. The 2014 Plan provides for the issuance of equity awards, including incentive and non-qualified stock options and restricted stock awards to employees, including officers, non-employee directors and consultants to the Company or its affiliates. The 2014 Plan also provides for the grant of performance cash awards and performance-based stock awards. The aggregate number of shares of common stock that are authorized for issuance under the 2014 Plan is 2,990,354 shares, plus any shares subject to outstanding options that were granted under the 2011 Plan or 2006 Plan that are forfeited, terminated, expired or are otherwise not issued. There were 1,221,443 and 141,176 outstanding options under this plan at December 31, 2015 and 2014, respectively. There were 88,236 and 117,647 shares of restricted stock outstanding under the Plan at December 31, 2015 and 2014, respectively.

2014 Employee Stock Purchase Plan

The 2014 Employee Stock Purchase Plan (the ESPP) was adopted in December 2014 upon the closing of the IPO and provides for eligible Company employees, as defined by the ESPP, to be given an opportunity to purchase the Company's common stock at a discount, through payroll deductions, with stock purchases being made upon defined purchase dates. The ESPP authorizes the issuance of up to 550,000 shares of the Company's common stock, pursuant to purchase rights granted to its employees. The ESPP was approved by the Company's board of directors and stockholders in December 2014 and employee payroll deductions of approximately $0.4 million were withheld during year ended December 31, 2015. During the year ended December 31, 2015, 21,690 shares were purchased pursuant to the ESPP and the Company received $0.3 million in proceeds. There were no ESPP stock purchases during the year ended December 31, 2014. The Company recorded share-based compensation expense for shares purchased for less than fair market value under the ESPP of $0.2 million, for the year ended December 31, 2015. There was $0.2 million and $0.4 million of unrecognized compensation expense related to the ESPP as of December 31, 2015 and 2014, respectively, which will be recognized over the remaining 12 months of the plan.

Share-Based Compensation Expense

The valuation of the share-based compensation awards is a significant accounting estimate that requires the use of judgment and assumptions that are likely to have a material impact on the financial statements. The fair value of option grants is determined using the Black-Scholes option-pricing model. Expected volatilities utilized in the model are based on implied volatilities from traded stocks of peer companies. Similarly, the dividend yield is based on historical experience and the estimate of future dividend yields. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The expected term of the options is based on the average period the stock options are expected to remain outstanding. As the Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior, the expected term is calculated as the midpoint between the weighted-average vesting term and the contractual expiration period also known as the simplified method. The Company assumed no awards would be forfeited during the vesting period, as actual forfeitures have been minimal through December 31, 2015.

The fair value of the option grants have been estimated, with the following weighted-average assumptions:



	Year Ended December 31,
	2015		2014		2013
Risk-free interest rate	1.71	%	1.86	%	1.58	%
Volatility	74	%	95	%	90	%
Expected life (years)	6.08		6.09		6.25
Expected dividend yield	0	%	0	%	0	%

Share-based compensation for the years ended December 31, 2015, 2014 and 2013, are as follows:



	Year Ended December 31,
	2015		2014		2013
	(in thousands)
General and administrative	$	4,832	$	386	$	19
Research and development	3,577		525		372
Total	$	8,409	$	911	$	391

Stock option activity for the years ended December 31, 2015 and 2014 is as follows:



Options	Outstanding Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	(in thousands) Aggregate Intrinsic Value
Balance at December 31, 2013	1,574,398	$	2.33	8.26	$	275
Granted	1,188,806	$	8.67
Exercised	(12,615)	$	2.55
Forfeited	(16,796)	$	2.55
Balance at December 31, 2014	2,733,793	$	5.09	8.39	$	49,076
Granted	1,089,767	$	22.23
Exercised	(182,238)	$	2.64		$	3,236
Forfeited	(12,349)	$	14.99
Balance at December 31, 2015	3,628,973	$	10.32	8.03	$	39,021
Exercisable as of December 31, 2015	1,677,355	$	3.84	6.82	$	27,612

Restricted stock share activity for the year ended December 31, 2015 and 2014 is as follows:



Restricted Stock Shares	Outstanding Restricted Shares	Weighted-Average Fair Value at Date of Grant Per Share
Balance at December 31, 2013	—
Granted	117,647	$	19.00
Vested	—
Forfeited	—
Balance at December 31, 2014	117,647	$	19.00
Granted	—	—
Vested	(29,411)	$	19.00
Forfeited	—	—
Balance at December 31, 2015	88,236	$	19.00

The following table includes share-based payment activity for the years ended December 31, 2015, 2014 and 2013:



	Year Ended December 31,
	2015		2014		2013
	(in thousands, except per share)
Weighted-average grant date fair value of options granted	$	16.09	$	13.30	$	1.38
Weighted-average grant date fair value of restricted shares granted	$	—	$	19.00	$	—
Aggregate intrinsic value of options exercised	$	3,236	$	59	$	—
Total fair value of restricted shares vested	$	656	$	—	$	—
Cash received by Company upon option exercises	$	482	$	11	$	—

The following table summarizes the options outstanding and exercisable at December 31, 2015:



Options Outstanding					Options Exercisable
Exercise Price	Total Shares	Weighted- Average Remaining Contractual Term (in years)	Weighted-Average Exercise Price		Total Shares	Weighted- Average Remaining Contractual Term (in years)	Weighted-Average Exercise Price
$ .51 to $2.55	1,412,543	6.37	$	2.33	1,346,174	6.31	$	2.32
$ 7.47 to $19.00	1,282,663	8.97	$	9.60	303,380	8.87	$	8.90
$ 20.09 to $24.48	933,767	9.24	$	23.40	27,801	9.43	$	22.40
Total	3,628,973	8.03	Total		1,677,355	6.82

At December 31, 2015, total compensation cost not yet recognized was $27.1 million and the weighted average period over which this amount is expected to be recognized is 3.02 years. The aggregate fair value of options vesting in the years ended December 31, 2015, 2014 and 2013 was $5.5 million, $0.3 million and $0.1 million, respectively.

GRANT REVENUE	12 Months Ended
GRANT REVENUE	Dec. 31, 2015
Deferred Revenue Disclosure [Abstract]
GRANT REVENUE	GRANT REVENUE CPRIT Grant On July 27, 2011, the Company entered into a Cancer Research Grant Contract (Grant Contract) with the Cancer Prevention and Research Institute of Texas (CPRIT) under which CPRIT awarded a grant not to exceed approximately $5.7 million to be used by the Company for the execution of defined clinical development of BPX-501. The Grant Contract terminated on June 30, 2014. The terms of the Grant Contract require the Company to pay tiered royalties on revenues from sales and licenses of intellectual property facilitated by the Grant Contract. During 2015, 2014, and 2013, the Company incurred $-, $1.4 million and $1.8 million of expenses under the Grant Contract, respectively. As of December 31, 2015 and 2014, the Company had an outstanding grant receivable of $- million and $0.3 million, respectively, for grant expenditures that were paid but had not yet been reimbursed. NIH Grant During 2015, 2014 and 2013, the Company was awarded $0.3 million, $0.3 million and $0.4 million, respectively, under a grant from the National Institutes of Health (NIH). The awards cover the period from April 2013 through March 2016. The awards were made pursuant to the authority of 42 USC 241 42 CFR 52, and are subject to the requirements of the statute. Funds spent on the grant are reimbursed through monthly reimbursement requests. As of December 31, 2015, 2014 and 2013, funds spent under the grant were $0.3 million, $0.3 million and $0.2 million, respectively. As of December 31, 2015, the Company had an outstanding grant receivable of $57,000. As of December 31, 2014, the Company had deferred revenue of $13,000 related to the grant.

ARIAD RESTRUCTURING COSTS	12 Months Ended
ARIAD RESTRUCTURING COSTS	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ARIAD RESTRUCTURING COSTS	ARIAD RESTRUCTURING COSTS On March 7, 2011, the Company entered into an amended and restated exclusive license agreement with ARIAD (Amended ARIAD License) which amended a license agreement entered into by the parties in 2006. Under the Amended ARIAD License, ARIAD granted to the Company an exclusive (even as to the ARIAD) license, with the right to grant sublicenses, under ARIAD’s patent rights relating to dimerizers, genetic constructs coding for dimerizer binding domains, vectors containing said constructs, cells containing said constructs and methods of inducing biological processes in cells containing said constructs. These licensed patent rights were initially limited to the fields of cell transplantation and certain types of cancer. In connection with the initial license, in 2006, the Company issued 121,241 shares of its common stock to ARIAD which were subject to antidilution protection that ultimately resulted in additional issuances to ARIAD by the Company of 556,222 shares of the Company’s common stock, such that ARIAD received a total of 677,463 shares of common stock under the license agreement. In addition, the Company paid ARIAD a license fee of $250,000 in connection with the amendment in 2011. The Amended ARIAD license also provided for certain royalty and milestone payments, which were subsequently terminated pursuant to an omnibus amendment agreement with ARIAD. Under the Amended ARIAD License, the Company is required to diligently proceed with the development, manufacture and sale of licensed products. The Amended ARIAD License is subject at all times to restrictions and obligations under a license agreement by and between ARIAD Gene Therapeutics, Inc. (one of ARIAD’s affiliates which merged into ARIAD) and the academic institution from which ARIAD obtained its license to the underlying technology. While the Company is not required to pay royalties or fees to such academic institution, no sublicensee of the Company’s may enter into a sublicense with respect to any intellectual property owned by the academic institution without its consent, which terms must be consistent with those included in the agreement between ARIAD and such academic institution. The Amended ARIAD License will expire upon expiration of the last license term of a licensed product covered by the agreement, which is either the later of (i) 12 years from the date of the first commercial sale of the licensed product, or (ii) expiration of a valid claim on the licensed product. Either party to the license may terminate or modify the Amended ARIAD License upon a material breach by the other party that remains uncured following the date that is 30 days after written notice of a payment breach and 90 days for any other breach, and effective immediately upon bankruptcy of the other party. The Company may terminate the amended ARIAD license in its sole discretion at any time if the Company determines not to develop or commercialize any licensed product. In addition, upon termination of the amended ARIAD license prior to expiration, the Company must transfer any ownership and any beneficial ownership in any orphan drug designation or any similar designation in any jurisdiction of orphan drug status of the ARIAD dimerizer to ARIAD. On October 3, 2014, the Company entered into an omnibus amendment agreement with ARIAD, under which the Company agreed to make payments of $50.0 million in exchange for an expansion of the license field, the termination of all obligations to make milestone and royalty payments to ARIAD in the future and the return of 677,463 shares of common stock held by ARIAD. In connection with the amendment, the Company made an initial payment of $15.0 million and issued a promissory note to ARIAD for a principal amount of $35.0 million. Per the promissory note terms, the principal would not accrue interest unless the Company was in default, in which case it would accrue at a rate of 10% per annum. In December 2014, following the Company’s IPO, the Company paid the remaining $35.0 million and ARIAD returned all 677,463 shares of common stock of the Company that ARIAD held. The license transaction was valued on the date of the transaction and the note was discounted to fair market value at a 10% rate. This resulted in the ARIAD license expense of $43.2 million, repurchase of common stock for $5.1 million and interest expense of $1.7 million. The Company has recorded the returned shares of common stock as treasury stock.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Operating Lease Agreements

In December 2012, the Company entered into a five years lease agreement for its administrative and research and development activities. In 2013, the lease was amended to include additional space and in 2014, the lease was amended again to include additional space and extend the term of the lease. After the 2013 and 2014 amendments, the leased premises totals 35,250 square feet. The lease includes escalating base rent payments, which initially increased on November 1, 2013, and then increased again on December 31, 2013. An additional base rent increase became effective February 1, 2015 as a result of the 2014 lease modification. Subsequently, an increase in the base rent payment will occur during the last month of each year. This escalating base rent payment structure will continue through the expiration of the lease on January 31, 2020.

On May 6, 2015, the Company entered into an additional operating lease agreement for the lease of approximately 26,817 square feet which the Company will use to enable in-house cell therapy manufacturing. The term of the lease began on September 1, 2015 and will continue for an initial term of five years, which may be renewed for five additional one year periods. The Company is required to remit base monthly rent of approximately $66,531 which will increase at various approximate rates between of 3.5% to 5% each year through the expiration of the lease in August 2020. The Company is also required to pay additional rent in the form of its pro rata share of certain specified operating expenses of the landlord. An early termination right is available to the Company upon certain events, including the landlord’s default on its obligations under the lease.

Capital Lease Agreements

The Company entered into two office equipment leases during 2015, which expire in 2021. The office equipment leases are being accounted for as capital leases under FASB Topic ASC 840 - Leases. The present value of the minimum lease payments are greater than 90% or more than the fair market value of the leased equipment and the lease terms are 6 years.

Aggregate future minimum annual payments under operating and capital leases at December 31, 2015, are as follows:



Year	Operating Leases		Capital Leases
	(in thousands)
2016	$	1,857	$	42
2017	1,903		42
2018	1,950		42
2019	2,001		42
2020	704		42
Thereafter	—		25
Total minimum rentals	$	8,415	$	235

License Agreement - Agensys, Inc.

On December 10, 2015, the Company and Agensys, Inc. (Agensys), entered into a license agreement (the Agreement), pursuant to which (i) Agensys granted the Company, within the field of cell and gene therapy of diseases in humans, an exclusive, worldwide license and sublicense to its patent rights directed to prostate stem cell antigen 1 (“PSCA”) and related antibodies, and (ii) the Company granted Agensys a non-exclusive, fully paid license to the Company’s patents directed to inventions that were made by the Company in the course of developing the Company’s licensed products, solely for use with Agensys therapeutic products containing a soluble antibody that binds to PSCA or, to the extent not based upon Bellicum’s other proprietary technology, to non-therapeutic applications of antibodies not used within the field.

As consideration for the rights granted to the Company under the Agreement, the Company agreed to pay to Agensys a non-refundable upfront fee of $3,000,000, which is included in license fee expense. The Company is also required to make aggregate milestone payments to Agensys of up to (i) $5,000,000 upon the first achievement of certain specified clinical milestones for its licensed products, (ii) $50,000,000 upon the achievement of certain specified clinical milestones for each licensed product, and (iii) $75,000,000 upon the achievement of certain sales milestones for each licensed product. The Agreement additionally provides that the Company will pay to Agensys a royalty that ranges from the mid to high single digits based on the level of annual net sales of licensed products by the Company, its affiliates or permitted sublicensees. The royalty payments are subject to reduction under specified circumstances. These milestone and royalty payments will be expensed as incurred.

Under the Agreement, Agensys also was granted the option to obtain an exclusive license, on a product-by-product basis, from the Company to commercialize in Japan each licensed product developed under the Agreement that has completed a phase 2 clinical trial. As to each such licensed product, if Agensys or its affiliate, Astellas Pharma, Inc., exercises the option, the Agreement provides that the Company will be paid an option exercise fee of $5,000,000. In addition, the Agreement provides that the Company will be paid a royalty that ranges from the mid to high single digits based on the level of annual net sales in Japan of each such licensed product. If the option is exercised, the aggregate milestone payments payable by the Company to Agensys, described above with respect to each licensed product, would be reduced by up to an aggregate of $65,000,000 upon the achievement of certain specified clinical and sales milestones.

The Agreement will terminate upon the expiration of the last royalty term for the products covered by the Agreement, which is the earlier of (i) the date of expiration or abandonment of the last valid claim within the licensed patent rights covering any licensed products under the Agreement, (ii) the expiration of regulatory exclusivity as to a licensed product, and (iii) 10 years after the first commercial sale of a licensed product. Either party may terminate the Agreement upon a material breach by the other party that remains uncured following 60 days after the date of written notice of such breach (or 30 days if such material breach is related to failure to make payment of amounts due under the Agreement) or upon certain insolvency events. In addition, Agensys may terminate the Agreement immediately upon written notice to the Company if the Company or any of its affiliates or permitted sublicensees commences an interference proceeding or challenges the validity or enforceability of any of Agensys’ patent rights.

License Agreement - BioVec

On June 10, 2015, the Company and BioVec Pharma, Inc. (BioVec) entered into a license agreement (the BioVec Agreement) pursuant to which BioVec agreed to supply the Company with certain proprietary cell lines and granted to the Company a non-exclusive, worldwide license to certain of its patent rights and related know-how related to such proprietary cell lines.

As consideration for the products supplied and rights granted to the Company under the BioVec Agreement, the Company agreed to pay to BioVec an upfront fee of $100,000 within ten business days of the effective date of the BioVec Agreement and a fee of $300,000 within ten business days of its receipt of the first release of GMP lot of the products licensed under the BioVec Agreement. In addition, the Company agreed to pay to BioVec an annual fee of $150,000, commencing 30 days following the first filing of an Investigational New Drug Application (an IND filing), or its foreign equivalent, for a product covered by the license; with such annual fees being creditable against any royalties payable by the Company to BioVec under the BioVec Agreement. The Company also is required to make a $250,000 milestone payment to BioVec for each of the first three licensed products to enter into a clinical phase trial and one-time milestone payments of $2,000,000 upon receipt of a registration granted by the Federal Drug Administration or European Medicines Agency on each of the Company’s first three licensed products. The BioVec Agreement additionally provides that the Company will pay to BioVec a royalty in the low single digits on net sales of products covered by the BioVec Agreement. The Company may also grant sublicenses under the licensed patent rights and know-how to third parties for limited purposes related to the use, sale and other exploitation of the products licensed under the BioVec Agreement. The BioVec Agreement will continue until terminated. The BioVec Agreement may be terminated by the Company, in its sole discretion, at any time upon 90 days written notice to BioVec. Either party may terminate the BioVec Agreement in the event of a breach by the other party of any material provision of the BioVec Agreement that remains uncured on the date that is 60 days after written notice of such failure or upon certain insolvency events that remain uncured following the date that is 30 days after the date of written notice to a party regarding such insolvency event. The Company recognized expenses of $100,000 in connection with the BioVec License Agreement for the year ended December 31, 2015. The Company was not required to make any milestone payments for the year ended December 31, 2015.

License Agreement - Leiden

On April 23, 2015, the Company and Academisch Ziekenhuis Leiden, also acting under the name Leiden University Medical Centre (Leiden), entered into a license agreement (the Leiden Agreement), pursuant to which Leiden granted to the Company an exclusive, worldwide license to its patent rights covering high affinity T-cell receptors targeting preferentially-expressed antigen in melanoma, (PRAME) and POU2AF1 epitopes. The license granted under the Leiden Agreement is subject to certain restrictions and to Leiden’s retained right to use the licensed patents solely for academic research and teaching purposes, including research collaborations by Leiden with academic, non-profit research third parties; provided that Leiden provides 30 days advance written notice to the Company of such academic research collaborations.

As consideration for the rights granted to the Company under the Leiden Agreement, the Company agreed to pay to Leiden an aggregate of EUR 75,000 in upfront fees within 30 days of the effective date of the Leiden Agreement. In addition, the Company agreed to pay to Leiden, beginning on the eighth anniversary of the effective date of the Leiden Agreement, annual minimum royalty payments of EUR 30,000. The Company also is required to make milestone payments to Leiden of up to an aggregate of EUR 1,025,000 for each of the first licensed product that is specific to PRAME and to POU2AF1. The Leiden Agreement additionally provides that the Company will pay to Leiden a royalty in the low single digits on net sales of products covered by the Leiden Agreement. If the Company enters into a sublicensing agreement with a third party related to a product covered by the Leiden Agreement, the Company agreed to pay Leiden a percentage ranging in the low double digits on all non-royalty income received from sublicensing revenue directly attributable to the sublicense, dependent on whether the Company is in phase 1/2, phase 2 or phase 3 at the time that the Company enters into any such sublicensing agreement.

Under the Leiden Agreement, the Company and Leiden entered into a sponsored research agreement, pursuant to which the Company is required to pay Leiden up to EUR 300,000 over a three years period during the term of the sponsored research agreement. The Leiden Agreement will expire upon the expiration of the last patent included in the licensed patent rights. The Leiden Agreement may be terminated earlier upon mutual written agreement between the Company and Leiden, and at any time by the Company upon six months written notice to Leiden. Leiden may terminate the Leiden Agreement in the event of a failure by the Company to pay any amounts due under the Leiden Agreement that remains uncured on the date that is 30 days after written notice of such failure. Either party may terminate the Leiden Agreement upon a material breach by the other party that remains uncured following 30 days after the date of written notice of such breach or upon certain insolvency events that remain uncured following the date that is 45 days after the date of written notice to a party of such insolvency event. The Company recognized $84,000 of expenses in connection with the Leiden License Agreement for the year ended December 31, 2015. The Company was not required to make any milestone payments for the year ended December 31, 2015.

Employment agreements

The Company has signed agreements with thirteen of its officers and key employees to provide certain benefits in the event of a “change of control” as defined in these agreements and the occurrence of certain other events. The agreements provide for a lump-sum payment in cash equal to 12 to 18 months of annual base salary and annual cash bonus, if any. The annual base salary and annual cash bonus portion of the agreements would aggregate approximately $4.6 million at the rate of compensation in effect at December 31, 2015. In addition, the agreements provide for continuation of certain insurance and other benefits for periods of 12 to 18 months.

Litigation

The Company, from time to time, may be involved in litigation relating to claims arising out of its ordinary course of business. Management believes that there are no material claims or actions pending or threatened against the Company.

INCOME TAXES

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

INCOME TAXES

The Company did not recognize tax expense during 2015, 2014 or 2013.

The reconciliation between federal income taxes at the statutory rate and the Company’s income tax expense for the year is as follows:



	December 31,
	2015			2014			2013
	(in thousands)
U.S. tax benefit at statutory rate	$	(16,506	)	$	(28,548	)	$	(2,709	)
Meals and entertainment	24			10			4
Incentive stock options	12			98			115
Warrant expense	—			8,286			—
Federal deferred tax true-up	(187		)	—			—
Return to provision	(2		)	—			—
Deferred tax valuation allowances	17,920			20,586			3,027
Research and development credit	(1,261		)	(432		)	(437		)
Income tax expense	$	—		$	—		$	—

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes, and the amounts used for income tax purposes. Significant components of the Company’s deferred taxes as of December 31, 2015 and 2014 are as follows:



	December 31,
	2015			2014
	(in thousands)
Deferred tax liabilities:
Depreciation	$	(933	)	$	(127	)
Prepaid expenses	—			(189		)
Tenant improvement allowance	—			(83		)
Total deferred tax liabilities	(933		)	(399		)
Deferred tax assets:
Net operating loss carry-forward	28,229			14,044
Nonqualified stock options	2,248			268
Restricted stock expense	20			16
Employee stock purchase plan	82			—
Tenant improvement liability	341			96
Deferred contract manufacturing costs	—			161
Intangible assets	15,716			—
Unrealized loss on investment securities	103			—
Research and development credit	2,519			1,258
ARIAD license restructuring	—			14,977
Other	23			7
Total deferred tax assets	49,281			30,827
Valuation allowance	(48,348		)	(30,428		)
Total deferred tax	$	—		$	—
Net current deferred tax liability	$	—		$	(175	)
Net non-current deferred tax asset	—			175
Total deferred tax	$	—		$	—

As of December 31, 2015 and 2014, the Company had gross federal income tax net operating loss (NOL) carry forwards of $83.0 million and $41.3 million, respectively, and federal research tax credits of $2.5 million and $1.3 million, respectively. The net operating loss carry-forwards will expire beginning in 2025, if not utilized. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax asset will be realized. The ultimate realization of deferred tax assets is dependent upon the Company attaining future taxable income during periods in which those temporary differences become deductible.

Due to the uncertainty surrounding the realization of the benefits of its deferred assets, including net operating loss carry forwards, the Company has provided a 100% valuation allowance on its deferred tax assets at December 31, 2015 and 2014. The increases in the valuation allowance were $18.0 million and $20.6 million for the years ended December 31, 2015 and 2014, respectively.

The Internal Revenue Code Section 382 limits net operating loss and tax credit carry forwards when an ownership change of more than 50% of the value of the stock in a loss corporation occurs. Accordingly, the ability to utilize remaining net operating loss and tax credit carry forwards may be significantly restricted.

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Selected quarterly financial data (unaudited) for the year ended December 31, 2015 and 2014 is presented below:



	(in thousands except per share data) (1)
2015	First Quarter			Second Quarter			Third Quarter			Fourth Quarter (2)
Total revenues	$	107		$	84		$	57		$	34
Loss from operations	$	(7,808	)	$	(10,705	)	$	(13,617	)	$	(17,005	)
Net loss	$	(7,758	)	$	(10,534	)	$	(13,408	)	$	(16,848	)
Net loss per share attributable to common shareholders - basic and diluted	$	(0.30	)	$	(0.40	)	$	(0.51	)	$	(0.63	)

2014	First Quarter			Second Quarter			Third Quarter			Fourth Quarter (3)
Total revenues	$	552		$	553		$	660		$	15
Loss from operations	$	(2,277	)	$	(3,273	)	$	(2,898	)	$	(49,390	)
Net loss	$	(2,290	)	$	(3,281	)	$	(4,097	)	$	(74,298	)
Preferred dividends	$	(540	)	$	(564	)	$	(328	)	$	—
Net loss attributable to common shareholders	$	(2,830	)	$	(3,845	)	$	(4,425	)	$	(74,298	)
Net loss per share attributable to common shareholders - basic and diluted	$	(1.52	)	$	(1.81	)	$	(2.08	)	$	(18.99	)


(1)	The amounts were computed independently for each quarter, and the sum of the quarters may not total the annual amounts due to rounding.


(2)	The 2015 fourth quarter results include a non-refundable upfront fee to Agensys of $3.0 million under the license agreement. See Note 12.


(3)	The 2014 fourth quarter results include ARIAD license restructuring of $43.2 million and the change in fair value of the warrant liability of $23.2 million. See Note 11.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On March 10, 2016 (the Closing Date), the Company, entered into a Loan and Security Agreement (the Loan Agreement) with Hercules Capital, Inc. (Hercules), as agent and a lender, Hercules Technology II, L.P., as a lender and Hercules Technology III, L.P., as a lender, under which the Company borrowed $15.0 million on the Closing Date and may borrow an additional $5.0 million on or prior to September 15, 2016. Subject to the terms and conditions of the Loan Agreement, including approval by Hercules’ investment committee, and the Company’s achievement of specified milestones in the Loan Agreement (the Milestones), the Company may borrow an additional $10.0 million through March 15, 2017. The Company intends to use the proceeds received under the Loan Agreement for funding the build-out of our manufacturing facilities and general corporate purposes. The interest rate will be calculated at a rate equal to the greater of either (i) 9.35% plus the prime rate as reported in The Wall Street Journal minus 3.50%, and (ii) 9.35%. Payments under the Loan Agreement are interest only for 18 months from the Closing Date, extendable to 24 months upon the Company achieving the Milestones. The interest only period will be followed by equal monthly payments of principal and interest amortized over a 30 months schedule through the maturity date of March 1, 2020 (the “Loan Maturity Date”); provided that if the Milestones are achieved, the Company will make equal monthly payments of principal and interest amortized over a 24 months schedule through the Loan Maturity Date. The remaining principal balance will be due and payable on the Loan Maturity Date. In addition, upon the Loan Maturity date or such earlier date specified in the Loan Agreement, a final payment equal to $1,216,250, plus, subject to and contingent on the funding of the additional $5.0 million loan advance, $173,750; plus, subject to and contingent on the funding of the additional $10.0 million loan advance, $695,000. The Company’s obligations under the Loan Agreement are secured by a security interest in substantially all of its assets, other than its intellectual property. If the Company prepays the loan, including interest, prior to December 31, 2016, there will be no prepayment penalty. If the Company prepays the loan, including interest, after January 1, 2017 but prior to the date that is 24 months following the Closing Date, it will pay Hercules a prepayment charge based on a prepayment fee equal to 2.00% of the amount prepaid; if the prepayment occurs thereafter, it will pay Hercules a prepayment charge based on a prepayment fee equal to 1.00% of the amount prepaid. The prepayment charge is also applicable upon the occurrence of a change of control of the Company. The Loan Agreement includes customary affirmative and restrictive covenants, but does not include any financial maintenance covenants, and also includes standard events of default, including payment defaults. Upon the occurrence of an event of default, a default interest rate of an additional 5% may be applied to the outstanding loan balance and Hercules may declare all outstanding obligations immediately due and payable and take such other actions as set forth in the Loan Agreement. The description of the Loan Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the complete text of the Loan Agreement, including the exhibits thereto, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending March 31, 2016.

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. Any reference in these footnotes to applicable guidance is meant to refer to the authoritative U.S. generally accepted accounting principles (GAAP) as found in the Accounting Standards Codification (ASC) and Accounting Standards Update (ASU) of the Financial Accounting Standards Board (FASB).
Use of Estimates	Use of Estimates The preparation of the financial statements in accordance with GAAP requires management to make certain estimates and judgments that affect the reported amounts of assets, liabilities, and expenses. Actual results could differ from those estimates. Prior to becoming a public company, the Company utilized significant estimates and assumptions in determining the fair value of its common stock for financial reporting purposes. Historically, prior to the Company’s initial public offering (IPO) of its common stock, in December 2014, the fair values of the shares of common stock underlying the Company’s share-based awards were estimated on each grant date by its board of directors. Given the absence of a public trading market for the Company’s common stock, its board of directors exercised reasonable judgment and considered a number of objective and subjective factors to determine the best estimate of the fair value of its common stock, including its stage of development; its operational and financial performance; the nature of its services and its competitive position in the marketplace; the value of companies that it considers peers based on a number of factors, including similarity to the Company with respect to industry and business model; the likelihood of achieving a liquidity event, such as an initial public offering and the nature and history of its business; issuances of preferred stock and the rights, preferences, and privileges of its preferred stock relative to those of its common stock; business conditions and projections; the history of the Company and progress of its research and development efforts and clinical trials; and the lack of marketability of its common stock.
Revenue Recognition	Revenue Recognition The Company has not yet generated any revenue from product sales. The Company’s sole source of revenue has been grant revenue related to a $5.7 million research grant received from the Cancer Prevention and Research Institute of Texas (CPRIT), covering a three-year period from July 1, 2011 through June 30, 2014, and a $1.0 million research grant from the National Institutes of Health (NIH) covering the period from April 2013 to March 2016. Grant payments received prior to the Company’s performance of work required by the terms of the research grant are recorded as deferred revenue and recognized as grant revenue once work is performed and qualifying costs are incurred. (See Note 10).
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term, highly liquid investments with maturity of three months or less from the date of purchase to be cash equivalents.
Investment Securities	Investment Securities Consistent with its investment policy, the Company invests its cash allocated to fund its short-term liquidity requirements with prominent financial institutions in bank depository accounts and institutional money market funds. The Company invests the remainder of its cash in corporate debt securities and municipal bonds rated at least A quality or equivalent, U.S. Treasury notes and bonds and U.S. and state government agency-backed securities. The Company determines the appropriate classification of investment securities based on their maturity dates at the time of purchase and reevaluates its classification as of each balance sheet date. All investment securities owned were classified as available-for-sale. The cost of securities sold is based on the specific identification method. Investment securities are recorded as of each balance sheet date at fair value, with unrealized gains and, to the extent deemed temporary, unrealized losses included in stockholders’ equity. Interest and dividend income on investment securities, accretion of discounts and amortization of premiums and realized gains and losses are included in interest income in the statements of operations and comprehensive income (loss). An investment security is considered to be impaired when a decline in fair value below its cost basis is determined to be other than temporary. The Company evaluates whether a decline in fair value of an investment security is below its cost basis is other than temporary using available evidence. In the event that the cost basis of the investment security exceeds its fair value, the Company evaluates, among other factors, the amount and duration of the period that the fair value is less than the cost basis, the financial health of and business outlook for the issuer, including industry and sector performance, and operational and financing cash flow factors, overall market conditions and trends, the Company’s intent to sell the investment security and whether it is more likely than not the Company would be required to sell the investment security before its anticipated recovery. If a decline in fair value is determined to be other than temporary, the Company records an impairment charge in the statement of comprehensive loss and establishes a new cost basis in the investment.
Property and Equipment	Property and Equipment Leasehold improvements, furniture, lab equipment or other equipment and software are recorded at cost and are depreciated using the straight-line method over the estimated useful lives of the related assets, which range from three to five years. Leasehold improvements are amortized over the shorter of the estimated useful life or the remaining lease term.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment when events or changes in business conditions indicate that their carrying value may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. There were no impairment charges related to long-lived assets for the years ended December 31, 2015, 2014 and 2013.
Deferred Rent	Deferred Rent The Company recognizes rent expense for leases with increasing annual rents on a straight-line basis over the term of the lease. The amount of rent expense in excess of cash payments is classified as deferred rent. Any lease incentives received are deferred and amortized over the term of the lease.
Clinical Trials	Clinical Trials The Company estimates its clinical trial expense accrual for a given period based on the number of patients enrolled at each site, estimated cost per patient, and the length of time each patient has been in the trial, less amounts previously billed.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Accounting standards include disclosure requirements around fair values used for certain financial instruments and establish a fair value hierarchy. The three-tier hierarchy prioritizes valuation inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market, as described further in Note 4. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities approximate their fair values due to the short-term nature of these instruments.
Financial Instruments and Credit Risks	Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents, investment securities, accounts receivable. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation (FDIC) and Security Investor Protection Corporation (SIPC). Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits.
Equity Issuance Costs	Equity Issuance Costs Equity issuance costs represent costs paid to third parties in order to obtain equity financing. These costs have been netted against the proceeds of the equity issuances.
Research and Development	Research and Development Research and development expenses consist of expenses incurred in performing research and development activities, including compensation and benefits for research and development employees and consultants, facilities expenses, overhead expenses, cost of laboratory supplies, manufacturing expenses, fees paid to third parties and other outside expenses. Research and development costs are expensed as incurred. Clinical trial and other development costs incurred by third parties are expensed as the contracted work is performed. The Company accrues for costs incurred as the services are being provided by monitoring the status of the clinical trial or project and the invoices received from its external service providers. The Company estimates depend on the timeliness and accuracy of the data provided by the vendors regarding the status of each project and total project spending. The Company adjusts its accrual as actual costs become known. Where contingent milestone payments are due to third parties under research and development arrangements, the milestone payment obligations are expensed when the milestone events are achieved.
Reclassifications	Reclassifications Certain research and development indirect costs, including facilities and overhead, were previously included in general and administrative costs. These research and development indirect costs are included in research and development expense for the year ended December 31, 2015. The results for the year ended December 31, 2014 and 2013, have been reclassified to conform to the current year presentation.
Share-Based Compensation	Share-Based Compensation The Company accounts for its share-based compensation in accordance with ASC 718, Compensation — Stock Compensation, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors to be recognized in the financial statements, based on their fair value. The Company measures share-based compensation to consultants in accordance with ASC 505-50, Equity-Based Payments to Non-Employees, and recognizes the fair value of the award over the period the services are rendered or goods are provided. The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock option awards. The fair value is recognized as expense, net of estimated forfeitures, over the requisite service period, which is generally the vesting period of the respective award on a straight-line basis. Prior to the Company’s IPO on December 23, 2014, the determination of the grant date fair value of options using the Black-Scholes option-pricing model was affected by the Company’s estimated common stock fair value, as well as assumptions regarding a number of other complex and subjective variables.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. This method also requires the recognition of future tax benefits such as net operating loss and tax credit carry forwards, to the extent that realization of such benefits is more likely than not. A valuation allowance is recorded when the realization of future tax benefits is uncertain. The Company records a valuation allowance for the full amount of deferred tax assets, which would otherwise be recorded for tax benefits relating to the operating loss and tax credit carryforwards, as realization of such deferred tax assets cannot be determined to be more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations in the period that includes the enactment date. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740, Income Taxes. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. As of December 31, 2015, 2014 and 2013, the Company had no uncertain tax positions and no interest or penalties have been charged to the Company for the years ended December 31, 2015, 2014 and 2013. If incurred, the Company will classify any interest and penalties as a component of interest expense and operating expense, respectively. The Company is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The tax years 2004 through 2015 remain open to examination by the Internal Revenue Service.
Net Loss and Net Loss per Share of Common Stock Attributable to Common Stockholders	Net Loss and Net Loss per Share of Common Stock Attributable to Common Stockholders Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of share of common stock outstanding during the period without consideration for common stock equivalents. Diluted net loss per share of common stock is the same as basic net loss per share of common stock, since the effects of potentially dilutive securities are antidilutive. The net loss per share of common stock attributable to common stockholders is computed using the two-class method required for participating securities. All series of the Company’s convertible preferred stock are considered to be participating securities as they are entitled to participate in undistributed earnings with shares of common stock. Due to the Company’s net loss, there is no impact on the earnings per share calculation in applying the two-class method since the participating securities have no legal requirement to share in any losses. The following outstanding shares of common stock equivalents were excluded from the computations of diluted net loss per shares of common stock attributable to common stockholders for the periods presented as the effect of including such securities would be anti-dilutive. Net Loss and Net Loss per Share of Common Stock Attributable to Common Stockholders Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of share of common stock outstanding during the period without consideration for common stock equivalents. Diluted net loss per share of common stock is the same as basic net loss per share of common stock, since the effects of potentially dilutive securities are antidilutive. The net loss per share of common stock attributable to common stockholders is computed using the two-class method required for participating securities. All series of the Company’s convertible preferred stock are considered to be participating securities as they are entitled to participate in undistributed earnings with shares of common stock. Due to the Company’s net loss, there is no impact on the earnings per share calculation in applying the two-class method since the participating securities have no legal requirement to share in any losses. The following outstanding shares of common stock equivalents were excluded from the computations of diluted net loss per shares of common stock attributable to common stockholders for the periods presented as the effect of including such securities would be anti-dilutive.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers”, which amends FASB ASC Topic 606. ASU 2014-09 provides a single, comprehensive revenue recognition model for all contracts with customers. This standard contains principles for the determination of the measurement of revenue and the timing of when such revenue is recognized. Revenue recognition will reflect the transfer of goods or services to customers at an amount that is expected to be earned in exchange for those goods or services. ASU 2014-09 was scheduled to be effective for annual reporting periods beginning after December 15, 2016, and early adoption was not permitted. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers: Deferral of Effective Date”, which defers the effective date of ASU 2014-09 by one year. ASU 2014-19 is now effective for annual periods after December 15, 2017 including interim periods within that reporting period. Early application is permitted only for annual periods beginning after December 15, 2016, including interim periods within that reporting period. Management is currently evaluating the impact of this pronouncement on the Company’s financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” ASU 2014-15 will explicitly require management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is permitted. Management does not expect the adoption of this pronouncement to have a material impact on the Company’s financial statements. In November 2015, the FASB issued ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes." ASU 2015-17 requires that deferred income tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This pronouncement is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period. The Company elected to adopt this standard as of December 31, 2015, prospectively and the Company does not believe the adoption of this standard will have a material impact on the Company’s financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 requires that most equity investments be measured at fair value, with subsequent changes in fair value recognized in net income. The pronouncement also impacts financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is not permitted. Management does not expect the adoption of this pronouncement to have a material impact on the Company’s financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases.” ASU 2016-01 requires companies that lease assets to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The pronouncement will also require additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. Management is currently evaluating the impact of this pronouncement on the Company’s statements. The Company has evaluated other recent accounting pronouncements and believes that none of them will have a material effect on the Company’s financial statements.

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share



	Number of shares
	December 31, 2015	December 31, 2014	December 31, 2013
Series A Convertible Preferred Stock - as converted to common stock	—	—	1,496,782
Series B Convertible Preferred Stock - as converted to common stock	—	—	3,860,754
Warrants to purchase common stock	—	—	866,570
Options to purchase common stock	3,628,973	2,733,793	1,574,398
Stock dividends to be issued as payment for Series B dividends	—	—	101,951
Unvested shares of restricted stock	88,236	117,647	—
Total common stock equivalents	3,717,209	2,851,440	7,900,455

FAIR VALUE OF MEASUREMENTS AND INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis



			Fair Value Measurements at Reporting Date Using
	Balance at December 31, 2015		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(in thousands)
Cash Equivalents:
Money market funds	$	52,714	$	52,714	$	—	$	—
U.S. government agency-backed securities	9,500		—		9,500		—
Total Cash Equivalents	$	62,214	$	52,714	$	9,500	$	—

Investment Securities:
U.S. government agency-backed securities	$	22,388	$	—	$	22,388	$	—
Corporate debt securities	51,547		—		51,547		—
Municipal bonds	6,189		—		6,189		—
Total Investment Securities	$	80,124	$	—	$	80,124	$	—

			Fair Value Measurements at Reporting Date Using
	Balance at December 31, 2014		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(in thousands)
Cash Equivalents:
Money market funds	$	43,587	$	43,587	$	—	$	—
Total Cash Equivalents	$	43,587	$	43,587	$	—	$	—

Available-for-sale Securities

Investment securities, all classified as available-for-sale, consisted of the following as of December 31, 2015:



Investment Securities:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Aggregate Estimated Fair Value
	(in thousands)
U.S. government agency-backed securities	$	22,417	$	1	$	(30	)	$	22,388
Corporate debt securities	51,807		1		(261		)	51,547
Municipal bonds	6,200		—		(11		)	6,189
Total Investment Securities	$	80,424	$	2	$	(302	)	$	80,124

- 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

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property and equipment consists of the following:



					December 31,
					2015			2014
	Estimated Useful Lives				(in thousands)
Leasehold improvements			5	years	$	4,092		$	1,506
Lab equipment			5	years	3,741			1,717
Office furniture			5	years	931			335
Software			3	years	109			75
Computer equipment	3	to	5	years	401			205
Equipment held under capital leases			5	years	135			—
Total					9,409			3,838
Less: accumulated depreciation					(2,527		)	(1,411		)
Property and equipment, net					$	6,882		$	2,427

COMMON STOCK, PREFERRED STOCK AND WARRANTS (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Schedule of Stock by Class

The following table summarizes the Company’s preferred shares for the three years ended December 31, 2015:



	(in thousands, except shares)
	Series A							Series B										Series C
	Shares	Initial Value			Redemption Value				Shares		Initial Value				Redemption Value			Shares		Initial Value			Redemption Value
Outstanding January 1, 2013	2,544,539	$	7,634		$	7,634			2,849,929			$	13,181		$	14,024			—	$	—		$	—
Issuance of Series B preferred stock for cash, net	—	—			—				2,955,857			13,671			13,671				—	—			—
Conversion of debt and interest into Series B preferred stock									757,497			3,503			3,503
Accretion of Series B dividends												-			1,094
Outstanding December 31, 2013	2,544,539	$	7,634		$	7,634			6,563,283			$	30,355		$	32,292			—	$	—		$	—
Issuance of Series B preferred stock for cash, net	—	—			—				1,582,706			7,320			7,320
Issuance of Series C preferred stock for cash, net																			10,091,743	42,074			42,074
Issuance of Series C preferred stock on exercise of warrants																			6,524,195	72,187			72,187
Accretion of Series B dividends												-			1,432
Payment of Series B dividends															(173		)
Conversion to common stock	(2,544,539)	(7,634		)	(7,634		)		(8,145,989	)		(37,675		)	(40,871		)		(16,615,938)	(114,261		)	(114,261		)
Outstanding December 31, 2014	—	$	—		$	—			—			$	—		$	—			—	$	—		$	—

Outstanding December 31, 2015	—	$	—		$	—			—			$	—		$	—			—	$	—		$	—

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28,29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5

+ Details

SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of the option grants have been estimated, with the following weighted-average assumptions:



	Year Ended December 31,
	2015		2014		2013
Risk-free interest rate	1.71	%	1.86	%	1.58	%
Volatility	74	%	95	%	90	%
Expected life (years)	6.08		6.09		6.25
Expected dividend yield	0	%	0	%	0	%

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

Share-based compensation for the years ended December 31, 2015, 2014 and 2013, are as follows:



	Year Ended December 31,
	2015		2014		2013
	(in thousands)
General and administrative	$	4,832	$	386	$	19
Research and development	3,577		525		372
Total	$	8,409	$	911	$	391

Schedule of Share-based Compensation, Stock Options, Activity

Stock option activity for the years ended December 31, 2015 and 2014 is as follows:



Options	Outstanding Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	(in thousands) Aggregate Intrinsic Value
Balance at December 31, 2013	1,574,398	$	2.33	8.26	$	275
Granted	1,188,806	$	8.67
Exercised	(12,615)	$	2.55
Forfeited	(16,796)	$	2.55
Balance at December 31, 2014	2,733,793	$	5.09	8.39	$	49,076
Granted	1,089,767	$	22.23
Exercised	(182,238)	$	2.64		$	3,236
Forfeited	(12,349)	$	14.99
Balance at December 31, 2015	3,628,973	$	10.32	8.03	$	39,021
Exercisable as of December 31, 2015	1,677,355	$	3.84	6.82	$	27,612

Schedule of Nonvested Restricted Stock Units Activity

Restricted stock share activity for the year ended December 31, 2015 and 2014 is as follows:



Restricted Stock Shares	Outstanding Restricted Shares	Weighted-Average Fair Value at Date of Grant Per Share
Balance at December 31, 2013	—
Granted	117,647	$	19.00
Vested	—
Forfeited	—
Balance at December 31, 2014	117,647	$	19.00
Granted	—	—
Vested	(29,411)	$	19.00
Forfeited	—	—
Balance at December 31, 2015	88,236	$	19.00

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table includes share-based payment activity for the years ended December 31, 2015, 2014 and 2013:



	Year Ended December 31,
	2015		2014		2013
	(in thousands, except per share)
Weighted-average grant date fair value of options granted	$	16.09	$	13.30	$	1.38
Weighted-average grant date fair value of restricted shares granted	$	—	$	19.00	$	—
Aggregate intrinsic value of options exercised	$	3,236	$	59	$	—
Total fair value of restricted shares vested	$	656	$	—	$	—
Cash received by Company upon option exercises	$	482	$	11	$	—

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes the options outstanding and exercisable at December 31, 2015:



Options Outstanding					Options Exercisable
Exercise Price	Total Shares	Weighted- Average Remaining Contractual Term (in years)	Weighted-Average Exercise Price		Total Shares	Weighted- Average Remaining Contractual Term (in years)	Weighted-Average Exercise Price
$ .51 to $2.55	1,412,543	6.37	$	2.33	1,346,174	6.31	$	2.32
$ 7.47 to $19.00	1,282,663	8.97	$	9.60	303,380	8.87	$	8.90
$ 20.09 to $24.48	933,767	9.24	$	23.40	27,801	9.43	$	22.40
Total	3,628,973	8.03	Total		1,677,355	6.82

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments for Capital Leases

Aggregate future minimum annual payments under operating and capital leases at December 31, 2015, are as follows:



Year	Operating Leases		Capital Leases
	(in thousands)
2016	$	1,857	$	42
2017	1,903		42
2018	1,950		42
2019	2,001		42
2020	704		42
Thereafter	—		25
Total minimum rentals	$	8,415	$	235

Schedule of Future Minimum Rental Payments for Operating Leases

Aggregate future minimum annual payments under operating and capital leases at December 31, 2015, are as follows:



Year	Operating Leases		Capital Leases
	(in thousands)
2016	$	1,857	$	42
2017	1,903		42
2018	1,950		42
2019	2,001		42
2020	704		42
Thereafter	—		25
Total minimum rentals	$	8,415	$	235

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The reconciliation between federal income taxes at the statutory rate and the Company’s income tax expense for the year is as follows:



	December 31,
	2015			2014			2013
	(in thousands)
U.S. tax benefit at statutory rate	$	(16,506	)	$	(28,548	)	$	(2,709	)
Meals and entertainment	24			10			4
Incentive stock options	12			98			115
Warrant expense	—			8,286			—
Federal deferred tax true-up	(187		)	—			—
Return to provision	(2		)	—			—
Deferred tax valuation allowances	17,920			20,586			3,027
Research and development credit	(1,261		)	(432		)	(437		)
Income tax expense	$	—		$	—		$	—

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]



	December 31,
	2015			2014
	(in thousands)
Deferred tax liabilities:
Depreciation	$	(933	)	$	(127	)
Prepaid expenses	—			(189		)
Tenant improvement allowance	—			(83		)
Total deferred tax liabilities	(933		)	(399		)
Deferred tax assets:
Net operating loss carry-forward	28,229			14,044
Nonqualified stock options	2,248			268
Restricted stock expense	20			16
Employee stock purchase plan	82			—
Tenant improvement liability	341			96
Deferred contract manufacturing costs	—			161
Intangible assets	15,716			—
Unrealized loss on investment securities	103			—
Research and development credit	2,519			1,258
ARIAD license restructuring	—			14,977
Other	23			7
Total deferred tax assets	49,281			30,827
Valuation allowance	(48,348		)	(30,428		)
Total deferred tax	$	—		$	—
Net current deferred tax liability	$	—		$	(175	)
Net non-current deferred tax asset	—			175
Total deferred tax	$	—		$	—

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Selected quarterly financial data (unaudited) for the year ended December 31, 2015 and 2014 is presented below:



	(in thousands except per share data) (1)
2015	First Quarter			Second Quarter			Third Quarter			Fourth Quarter (2)
Total revenues	$	107		$	84		$	57		$	34
Loss from operations	$	(7,808	)	$	(10,705	)	$	(13,617	)	$	(17,005	)
Net loss	$	(7,758	)	$	(10,534	)	$	(13,408	)	$	(16,848	)
Net loss per share attributable to common shareholders - basic and diluted	$	(0.30	)	$	(0.40	)	$	(0.51	)	$	(0.63	)

2014	First Quarter			Second Quarter			Third Quarter			Fourth Quarter (3)
Total revenues	$	552		$	553		$	660		$	15
Loss from operations	$	(2,277	)	$	(3,273	)	$	(2,898	)	$	(49,390	)
Net loss	$	(2,290	)	$	(3,281	)	$	(4,097	)	$	(74,298	)
Preferred dividends	$	(540	)	$	(564	)	$	(328	)	$	—
Net loss attributable to common shareholders	$	(2,830	)	$	(3,845	)	$	(4,425	)	$	(74,298	)
Net loss per share attributable to common shareholders - basic and diluted	$	(1.52	)	$	(1.81	)	$	(2.08	)	$	(18.99	)


(1)	The amounts were computed independently for each quarter, and the sum of the quarters may not total the annual amounts due to rounding.


(2)	The 2015 fourth quarter results include a non-refundable upfront fee to Agensys of $3.0 million under the license agreement. See Note 12.


(3)	The 2014 fourth quarter results include ARIAD license restructuring of $43.2 million and the change in fair value of the warrant liability of $23.2 million. See Note 11.

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,717,209	2,851,440	7,900,455
Series A Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	1,496,782
Series B Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	3,860,754
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,628,973	2,733,793	1,574,398
Dividend Paid [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	101,951
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	88,236	117,647	0
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	866,570

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2016	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Revenue from grants	$ 282	$ 1,780	$ 1,941		$ 5,700
Revenue from grants, period					3 years
Reclassification from general and administrative to research and development expense		$ 1,100	$ 800
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Forecast [Member]
Property, Plant and Equipment [Line Items]
Revenue from grants				$ 1,000

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 9,409	$ 3,838
Less: accumulated depreciation	(2,527)	(1,411)
Property and equipment, net	6,882	2,427
Depreciation expense	$ 1,199	667	$ 587
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Property, plant and equipment, gross	$ 4,092	1,506
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Property, plant and equipment, gross	$ 3,741	1,717
Office furniture [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Property, plant and equipment, gross	$ 931	335
Software [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Property, plant and equipment, gross	$ 109	75
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 401	205
Computer equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Computer equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Equipment held under capital leases [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Property, plant and equipment, gross	$ 135	$ 0

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accrued payroll	$ 1,332	$ 731
Manufacturing costs	2,412	0
Patient treatment costs	333	128
Medical facility fees	282	201
Commission on exercise of warrants	0	731
Other	721	372
Total accrued expenses and other current liabilities	$ 5,080	$ 2,163

DEFERRED MANUFACTURING COSTS (Details) $ in Millions	1 Months Ended	12 Months Ended
DEFERRED MANUFACTURING COSTS (Details) $ in Millions	Sep. 30, 2015 batch	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred manufacturing costs			$ 0.3
Refund of monthly commitment fees			$ 0.2
Service agreement amendment, transition period	30 days
Service agreement amendment, maximum batches \| batch	3
Decrease in deferred manufacturing costs		$ 0.3

COMMON STOCK, PREFERRED STOCK AND WARRANTS (Details)						1 Months Ended	3 Months Ended		12 Months Ended
COMMON STOCK, PREFERRED STOCK AND WARRANTS (Details)	Dec. 24, 2014 USD ($) shares	Dec. 23, 2014 USD ($) $ / shares	Dec. 23, 2014 $ / shares shares	Dec. 17, 2014 USD ($) $ / shares shares	Aug. 22, 2014 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares	Mar. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($) $ / shares	Sep. 30, 2014 USD ($)	Nov. 30, 2011 $ / shares
Class of Stock [Line Items]
Common stock, authorized (in shares) \| shares						200,000,000	200,000,000		200,000,000	200,000,000
Common stock, par value (in usd per share) \| $ / shares						$ 0.01	$ 0.01		$ 0.01	$ 0.01
Shares issued in connection with exercise of warrants \| shares						117,001	117,001	393,523	355,361	117,001
Proceeds from exercise of common warrants						$ 49,001		$ 200,700	$ 0	$ 250,000	$ 0
Exercise price of warrants (in usd per share) \| $ / shares						$ 0.42	$ 0.42	$ 0.51		$ 0.42
Issuance of common stock in an IPO, net of issuance costs										$ 146,303,000
Repurchase of common stock held by ARIAD										$ 5,056,000
Authorized shares of preferred stock (in shares) \| shares						10,000,000	10,000,000		10,000,000	10,000,000
Preferred stock, issued (in shares) \| shares						0	0		0	0
Preferred stock, outstanding (in shares) \| shares						0	0		0	0
Offering costs									$ 7,000	$ 14,242,000	0
Reverse stock split, conversion ratio			0.5882
Change in fair value of warrant liability							$ (23,200,000)		$ 0	(24,371,000)	$ 0
Series A Convertible Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Issuance of common stock, price (in usd per share) \| $ / shares													$ 3.00
Preferred stock, par value (in usd per share) \| $ / shares											$ 0.01
Conversion prices (in usd per share) \| $ / shares									$ 3.00
Series B Convertible Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Issuance of common stock, price (in usd per share) \| $ / shares													$ 4.625
Preferred stock, par value (in usd per share) \| $ / shares											$ 0.01
Conversion prices (in usd per share) \| $ / shares									4.625
Preferred stock, dividend rate					6.00%
Cumulative dividends					$ 3,400,000
Series C Convertible Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Shares issued in connection with exercise of warrants \| shares					6,559,598
Proceeds from exercise of common warrants	$ 39,200,000
Exercise price of warrants (in usd per share) \| $ / shares					$ 6.00
Issuance of common stock, price (in usd per share) \| $ / shares					$ 5.45
Preferred stock, issued (in shares) \| shares					10,091,743
Warrants, term					5 years
Net proceeds from issuance of preferred stock					$ 51,500,000
Offering costs					3,500,000
Conversion prices (in usd per share) \| $ / shares									$ 5.45
Fair value of warrants					$ 9,400,000	$ 33,800,000	33,800,000			33,800,000		$ 10,600,000
Change in fair value of warrant liability							$ 23,200,000			$ 24,400,000
Conversion of stock, number of shares converted \| shares	6,524,195
Warrants forfeited (in shares) \| shares	35,403
IPO [Member]
Class of Stock [Line Items]
Issuance of common stock in an IPO, net of issuance costs (in shares) \| shares				7,350,000
Issuance of common stock, price (in usd per share) \| $ / shares				$ 19.00
Issuance of common stock in an IPO, net of issuance costs		$ 160,600,000
Net offering proceeds				$ 146,300,000
Over-Allotment Option [Member]
Class of Stock [Line Items]
Issuance of common stock in an IPO, net of issuance costs (in shares) \| shares			1,102,500
Issuance of common stock, price (in usd per share) \| $ / shares		$ 19.00	$ 19.00
Common Stock [Member]
Class of Stock [Line Items]
Issuance of common stock in an IPO, net of issuance costs (in shares) \| shares										8,452,500
Issuance of common stock in an IPO, net of issuance costs										$ 85,000
Convertible preferred stock, shares issued upon conversion \| shares	3,837,727				3,858,549
Common Stock [Member] \| ARIAD Pharmaceuticals, Inc. [Member]
Class of Stock [Line Items]
Repurchase of common stock held by ARIAD (in shares) \| shares						677,463
Repurchase of common stock held by ARIAD						$ 5,100,000

COMMON STOCK, PREFERRED STOCK AND WARRANTS (Summary of Preferred Stock) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period	$ (28,152)	$ (19,474)
Issuance of preferred stock, net of issuance costs	0	(6)
Exercise of Series C warrants, net of issuance costs	0
Accretion of Series B dividend	(1,432)
Payment of Series B dividend	0
Conversion of preferred stock	(162,766)	0
Balance, end of period	$ 191,636	$ (28,152)
Series A Convertible Redeemable Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period (in shares)	2,544,539	2,544,539
Balance, beginning of period	$ 7,634	$ 7,634
Conversion of preferred stock (in shares)	(2,544,539)
Conversion of preferred stock	$ (7,634)
Balance, end of period (in shares)	0	2,544,539
Balance, end of period	$ 0	$ 7,634
Series B Convertible Redeemable Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period (in shares)	6,563,283	2,849,929
Balance, beginning of period	$ 32,292	$ 14,024
Issuance of preferred stock, net of issuance costs (in shares)	1,582,706	2,955,857
Issuance of preferred stock, net of issuance costs	$ 7,320	$ 13,671
Accretion of Series B dividend	1,432	$ 1,094
Payment of Series B dividend	$ (173)
Conversion of preferred stock (in shares)	(8,145,989)	(757,497)
Conversion of preferred stock	$ (40,871)	$ (3,503)
Balance, end of period (in shares)	0	6,563,283
Balance, end of period	$ 0	$ 32,292
Series C Convertible Redeemable Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period (in shares)	0	0
Balance, beginning of period	$ 0	$ 0
Issuance of preferred stock, net of issuance costs (in shares)	10,091,743
Issuance of preferred stock, net of issuance costs	$ 42,074
Exercise of Series C warrants, net of issuance costs (in shares)	6,524,195
Exercise of Series C warrants, net of issuance costs	$ 72,187
Conversion of preferred stock (in shares)	(16,615,938)
Conversion of preferred stock	$ (114,261)
Balance, end of period (in shares)	0	0
Balance, end of period	$ 0	$ 0
Initial Value [Member] \| Series A Convertible Redeemable Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period	7,634	7,634
Conversion of preferred stock	(7,634)
Balance, end of period	0	7,634
Initial Value [Member] \| Series B Convertible Redeemable Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period	30,355	13,181
Issuance of preferred stock, net of issuance costs	7,320	13,671
Conversion of preferred stock	(37,675)	(3,503)
Balance, end of period	0	30,355
Initial Value [Member] \| Series C Convertible Redeemable Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period	0	0
Issuance of preferred stock, net of issuance costs	42,074
Exercise of Series C warrants, net of issuance costs	72,187
Conversion of preferred stock	(114,261)
Balance, end of period	$ 0	$ 0

SHARE-BASED COMPENSATION PLANS Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Goods and Nonemployee Services Transaction [Line Items]
Options outstanding (in shares)	3,628,973	2,733,793	1,574,398
Cash received by Company upon option exercises	$ 482,000	$ 11,000	$ 0
Proceeds from exercise of stock options	$ 482,000	$ 0	$ 0
Exercise of stock options (in shares)	182,238	12,615
Restricted shares outstanding (in shares)			0
Total compensation cost not yet recognized	$ 27,100,000
Compensation cost not yet recognized, period for recognition	3 years 7 days
Aggregate fair value of fair value of options vesting	$ 5,500,000	$ 300,000	$ 100,000
2006 Stock Option Plan [Member]
Share-based Goods and Nonemployee Services Transaction [Line Items]
Options outstanding (in shares)	151,410	167,056
Number of shares available for grant	0
Cash received by Company upon option exercises	$ 6,980
2011 Stock Option Plan [Member]
Share-based Goods and Nonemployee Services Transaction [Line Items]
Options outstanding (in shares)	2,256,120	2,425,561
Number of shares available for grant	0
Proceeds from exercise of stock options	$ 500,000	$ 11,250
Exercise of stock options (in shares)	166,592	12,615
2014 Stock Option Plan [Member]
Share-based Goods and Nonemployee Services Transaction [Line Items]
Options outstanding (in shares)	1,221,443	141,176
Aggregate number of shares authorized for issuance	2,990,354
Restricted shares outstanding (in shares)	88,236	117,647
2014 Employee Stock Purchase Plan [Member]
Share-based Goods and Nonemployee Services Transaction [Line Items]
Number of shares available for grant		550,000
Employee payroll deductions withheld	$ 400,000
Employee Stock Purchase Plan stock purchases (in shares)	21,690	0
Amount used to purchase shares for employees under the plan	$ 300,000
Employee Stock Option [Member]
Share-based Goods and Nonemployee Services Transaction [Line Items]
Award vesting period	4 years
Award expiration period (up to)	10 years
Employee Stock [Member]
Share-based Goods and Nonemployee Services Transaction [Line Items]
Unrecognized compensation expense related to ESPP	$ 200,000	$ 400,000
Compensation cost not yet recognized, period for recognition	12 months

SHARE-BASED COMPENSATION PLANS Option Weighted Average Assumptions (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.71%	1.86%	1.58%
Volatility	74.00%	95.00%	90.00%
Expected life (years)	6 years 29 days	6 years 1 month 2 days	6 years 3 months
Expected dividend yield	0.00%	0.00%	0.00%

SHARE-BASED COMPENSATION PLANS Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 8,409	$ 911	$ 391
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	4,832	386	19
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 3,577	$ 525	$ 372

SHARE-BASED COMPENSATION PLANS Stock Options Rollforward (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Outstanding Stock Options
Beginning Balance (in shares)	2,733,793	1,574,398
Granted (in shares)	1,089,767	1,188,806
Exercised (in shares)	(182,238)	(12,615)
Forfeited (in shares)	(12,349)	(16,796)
Ending Balance (in shares)	3,628,973	2,733,793	1,574,398
Exercisable as of December 31, 2015 (in shares)	1,677,355
Weighted-Average Exercise Price
Weighted-Average Exercise Price Outstanding (usd per share)	$ 5.09	$ 2.33
Granted (usd per share)	22.23	8.67
Exercised (usd per share)	2.64	2.55
Forfeited (usd per share)	14.99	2.55
Weighted-Average Exercise Price Outstanding (usd per share)	10.32	$ 5.09	$ 2.33
Exercisable as of December 31, 2015 (usd per share)	$ 3.84
Outstanding Stock Options, Other Disclosures
Weighted- Average Remaining Contractual Term (in years)	8 years 11 days	8 years 4 months 21 days	8 years 3 months 4 days
Weighted Average Remaining Contractual Term Exercisable	6 years 9 months 26 days
Aggregate Intrinsic Value Outstanding	$ 39,021	$ 49,076	$ 275
Aggregate intrinsic value of options exercised	3,236	$ 59	$ 0
Aggregate Intrinsic Value Exercisable	$ 27,612

SHARE-BASED COMPENSATION PLANS Restricted Stock Shares Roll Forward (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Outstanding Restricted Shares
Beginning Balance (in shares)		0
Restricted Stock [Member]
Outstanding Restricted Shares
Beginning Balance (in shares)	117,647
Granted (in shares)	0	117,647
Vested (in shares)	(29,411)	0
Forfeited (in shares)	0	0
Ending Balance (in shares)	88,236	117,647
Weighted-Average Fair Value at Date of Grant Per Share Granted (in usd per share)	$ 19.00	$ 19.00
Weighted-Average Fair Value at Date of Grant Per Share Nonvested (in usd per share)	$ 19.00	$ 19.00

SHARE-BASED COMPENSATION PLANS Share-Based Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of options granted (in usd per share)	$ 16.09	$ 13.30	$ 1.38
Aggregate intrinsic value of options exercised	$ 3,236	$ 59	$ 0
Cash received by Company upon option exercises	$ 482	$ 11	$ 0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of restricted shares granted (in usd per share)	$ 0.00	$ 19.00	$ 0.00
Total fair value of restricted shares vested	$ 656	$ 0	$ 0

SHARE-BASED COMPENSATION PLANS Stock Options Outstanding And Exercisable (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding (in shares)	3,628,973
Weighted- Average Remaining Contractual Term (in years)	8 years 11 days	8 years 4 months 21 days	8 years 3 months 4 days
Options Exercisable (in shares)	1,677,355
Weighted- Average Remaining Contractual Term (in years)	6 years 9 months 26 days
.51 to $2.55 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding (in shares)	1,412,543
Weighted- Average Remaining Contractual Term (in years)	6 years 4 months 13 days
Weighted-Average Exercise Price (in usd per share)	$ 2.33
Options Exercisable (in shares)	1,346,174
Weighted- Average Remaining Contractual Term (in years)	6 years 3 months 22 days
Weighted-Average Exercise Price (in usd per share)	$ 2.32
$7.47 to $19.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding (in shares)	1,282,663
Weighted- Average Remaining Contractual Term (in years)	8 years 11 months 19 days
Weighted-Average Exercise Price (in usd per share)	$ 9.60
Options Exercisable (in shares)	303,380
Weighted- Average Remaining Contractual Term (in years)	8 years 10 months 13 days
Weighted-Average Exercise Price (in usd per share)	$ 8.90
$20.09 to 24.48 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding (in shares)	933,767
Weighted- Average Remaining Contractual Term (in years)	9 years 2 months 27 days
Weighted-Average Exercise Price (in usd per share)	$ 23.40
Options Exercisable (in shares)	27,801
Weighted- Average Remaining Contractual Term (in years)	9 years 5 months 5 days
Weighted-Average Exercise Price (in usd per share)	$ 22.40
Minimum [Member] \| .51 to $2.55 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price (in usd per share)	0.51
Minimum [Member] \| $7.47 to $19.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price (in usd per share)	7.47
Minimum [Member] \| $20.09 to 24.48 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price (in usd per share)	20.09
Maximum [Member] \| .51 to $2.55 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price (in usd per share)	2.55
Maximum [Member] \| $7.47 to $19.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price (in usd per share)	19.00
Maximum [Member] \| $20.09 to 24.48 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Exercise Price (in usd per share)	$ 24.48

GRANT REVENUE (Details) - USD ($) $ in Thousands		12 Months Ended			36 Months Ended
GRANT REVENUE (Details) - USD ($) $ in Thousands	Jul. 27, 2011	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2014
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Grants		$ 282	$ 1,780	$ 1,941	$ 5,700
Deferred revenue			13
Cancer Prevention and Research Institute of Texas [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Grants	$ 5,700		1,400	1,800
Grants receivable			300
National Institutes of Health Grant [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Grants		300	300	400
Grants receivable		57
Funds spent under the grant		$ 300	$ 300	$ 200

ARIAD RESTRUCTURING COSTS (Details) - USD ($)			1 Months Ended	12 Months Ended
ARIAD RESTRUCTURING COSTS (Details) - USD ($)	Oct. 03, 2014	Mar. 07, 2011	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2006
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
License fees				$ 3,184,000	$ 0	$ 0
Debt paid			$ 35,000,000
Repurchase of common stock held by ARIAD					5,056,000
Interest expense				$ 12,000	$ 1,791,000	$ 51,000
ARIAD License Agreement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Shares issued subject to antidilution protection							121,241
Additional shares issued due to antidilution protection							556,222
Total number of shares issued under the license agreement							677,463
License fees	$ 43,200,000	$ 250,000
Term of license		12 years
Termination period after written notice of failure		30 days
Termination notice period for any other breach		90 days
Payment arrangement in exchange for an expansion of the license field	$ 50,000,000.0
Repurchase of common stock held by ARIAD (in shares)	677,463
Initial payment in connection with the amendment	$ 15,000,000
Promissory note, principal amount	$ 35,000,000
Interest rate in the event of default, percentage	10.00%
Fair value adjustment, percent	10.00%
Repurchase of common stock held by ARIAD	$ 5,100,000
Interest expense	$ 1,700,000

COMMITMENTS AND CONTINGENCIES - Lease Agreements, Narrative (Details)		12 Months Ended
	May. 06, 2015 USD ($) ft² renewal_option	Dec. 31, 2015 equipment	Dec. 31, 2012	Dec. 31, 2014 ft²
Operating Leased Assets [Line Items]
Operating lease, term	5 years		5 years
Leased premises, number of square feet \| ft²	26,817			35,250
Number of renewal options \| renewal_option	5
Additional lease renewal periods	1 year
Base monthly rent \| $	$ 66,531
Number of office equipment leases \| equipment		2
Present value of minimum lease payments, percentage of fair market value of leased equipment (greater than)		90.00%
Capital lease, term		6 years
Minimum [Member]
Operating Leased Assets [Line Items]
Annual rate increase, percentage	3.50%
Maximum [Member]
Operating Leased Assets [Line Items]
Annual rate increase, percentage	5.00%

COMMITMENTS AND CONTINGENCIES - Aggregate Future Minimum Annual Payments Under Operating and Capital Leases (Details)	Dec. 31, 2015 USD ($)
Operating Leases
2016	$ 1,857,000
2017	1,903,000
2018	1,950,000
2019	2,001,000
2020	704,000
Thereafter	0
Total minimum rentals	8,415,000
Capital Leases
2016	42,000
2017	42,000
2018	42,000
2019	42,000
2020	42,000
Thereafter	25,000
Total minimum rentals	$ 235,000

COMMITMENTS AND CONTINGENCIES - License Agreements (Details)				3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 10, 2015 USD ($)	Jun. 10, 2015 USD ($) product	Apr. 23, 2015 EUR (€)	Dec. 31, 2014 USD ($)	Jun. 30, 2015	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Long-term Purchase Commitment [Line Items]
Upfront fee						$ 0	$ 43,212,000	$ 0
License agreement expense				$ 43,200,000
Agensys [Member] \| Licensing Agreements [Member]
Long-term Purchase Commitment [Line Items]
Upfront fee	$ 3,000,000
Milestone payments upon first achievement of certain specified clinical milestones for licensed products	5,000,000
Milestone payments upon achievement of certain specified clinical milestones for each licensed product	50,000,000
Milestone payments for the achievement of sales milestones for each licensed product	75,000,000
Exclusive license, option exercise fee	5,000,000
Maximum reduction in aggregate milestone payments if exclusive license option is exercised	$ 65,000,000
Termination period, number of years after first commercial sale of licensed product	10 years
Termination period, notice of failure on uncured items	60 days
Period of notice of failure on uncured items, if material breach is related to failure to make payments	30 days
BioVec [Member] \| Licensing Agreements [Member]
Long-term Purchase Commitment [Line Items]
Upfront fee		$ 100,000
Milestone payments upon first achievement of certain specified clinical milestones for licensed products		$ 250,000
Termination period, notice of failure on uncured items		60 days
Upfront fee payment period, number of days from effective date		10 days
License costs due upon first release of product		$ 300,000
License costs due upon first release of product, period of payment		10 days
License agreement, annual fee		$ 150,000
License agreement, annual fee period, from first IND filing					30 days
Milestone payments, number of initial products \| product		3
Milestone payments upon registration with FDA		$ 2,000,000
Termination notice period for any other breach		90 days
Termination period, after insolvency event		30 days
License agreement expense						100,000
Leiden [Member] \| Licensing Agreements [Member]
Long-term Purchase Commitment [Line Items]
Upfront fee \| €			€ 75,000
Milestone payments upon first achievement of certain specified clinical milestones for licensed products \| €			€ 1,025,000
Termination period, notice of failure on uncured items			30 days
Upfront fee payment period, number of days from effective date			30 days
Termination notice period for any other breach			6 months
Termination period, after insolvency event			45 days
License agreement expense						$ 84,000
Advance notice of research collaborations, period			30 days
Annual minimum royalty payments (in EUR) \| €			€ 30,000
Leiden agreement, sponsored research \| €			€ 300,000
Period of payments under sponsored research Agreement			3 years
Termination period after written notice of failure			30 days

COMMITMENTS AND CONTINGENCIES - Employment Agreement (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) employe
Other Commitments [Line Items]
Postemployment agreement, number of officers and key employees \| employe	13
Estimated annual base salary and cash bonus compensation in the event of a change in control \| $	$ 4.6
Minimum [Member]
Other Commitments [Line Items]
Postemployment benefits, estimated liability, period	12 months
Continuation of certain insurance and other benefits, period	12 months
Maximum [Member]
Other Commitments [Line Items]
Postemployment benefits, estimated liability, period	18 months
Continuation of certain insurance and other benefits, period	18 months

INCOME TAXES - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
U.S. tax benefit at statutory rate	$ (16,506)	$ (28,548)	$ (2,709)
Meals and entertainment	24	10	4
Incentive stock options	12	98	115
Warrant expense	0	8,286	0
Federal deferred tax true-up	(187)	0	0
Return to provision	(2)	0	0
Deferred tax valuation allowances	17,920	20,586	3,027
Research and development credit	(1,261)	(432)	(437)
Income tax expense	$ 0	$ 0	$ 0

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax liabilities:
Depreciation	$ (933)	$ (127)
Prepaid expenses	0	(189)
Tenant improvement allowance	0	(83)
Total deferred tax liabilities	(933)	(399)
Deferred tax assets:
Net operating loss carry-forward	28,229	14,044
Nonqualified stock options	2,248	268
Restricted stock expense	20	16
Employee stock purchase plan	82	0
Tenant improvement liability	341	96
Deferred contract manufacturing costs	0	161
Intangible assets	15,716	0
Unrealized loss on investment securities	103	0
Research and development credit	2,519	1,258
ARIAD license restructuring	0	14,977
Other	23	7
Total deferred tax assets	49,281	30,827
Valuation allowance	(48,348)	(30,428)
Total deferred tax	0	0
Net current deferred tax liability	0	(175)
Net non-current deferred tax asset	$ 0	$ 175

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Research tax credits	$ 2,519	$ 1,258
Net operating loss carry forwards, expiration year	2025
Increases in valuation allowance	$ 18,000	20,600
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards	83,000	41,300
Research tax credits	$ 2,500	$ 1,300

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 34	$ 57	$ 84	$ 107	$ 15	$ 660	$ 553	$ 552	$ 282	$ 1,780	$ 1,941
Loss from operations	(17,005)	(13,617)	(10,705)	(7,808)	(49,390)	(2,898)	(3,273)	(2,277)	(49,135)	(57,838)	(7,922)
Net loss	$ (16,848)	$ (13,408)	$ (10,534)	$ (7,758)	(74,298)	(4,097)	(3,281)	(2,290)	(48,548)	(83,965)	(7,969)
Preferred dividends					0	(328)	(564)	(540)	0	(1,432)	(1,093)
Net loss attributable to common stockholders					$ (74,298)	$ (4,425)	$ (3,845)	$ (2,830)	$ (48,548)	$ (85,397)	$ (9,062)
Net loss per share attributable to common shareholders - basic and diluted	$ (0.63)	$ (0.51)	$ (0.40)	$ (0.30)	$ (18.99)	$ (2.08)	$ (1.81)	$ (1.52)	$ (1.84)	$ (34.04)	$ (5.05)
License agreement upfront fee	$ 3,000
License agreement expense					$ 43,200
Change in fair value of warrant liability					$ 23,200				$ 0	$ 24,371	$ 0

SUBSEQUENT EVENTS (Details) - Subsequent Event [Member]	Mar. 10, 2016 USD ($)
Subsequent Event [Line Items]
Amount borrowed	$ 15,000,000
Available borrowing capacity	5,000,000.0
Additional borrowing capacity contingent on achievement of specified milestones	$ 10,000,000.0
Fixed interest	9.35%
Interest only payments, period	18 months
Interest only payments, extended period, if milestones are achieved	24 months
Principal and interest payment period	30 months
Principal and interest payment period, if milestones are achieved	24 months
Final payment at maturity date	$ 1,216,250
Final payment at maturity date, additional amount subject to and contingent on funding of additional $5.0 million	173,750
Final payment at maturity date, additional amount subject to and contingent on funding of additional $10.0 million	$ 695,000
Period threshold for prepayment penalty percentage evaluation	24 months
Early repayment fee, percentage of prepaid amount, period one	2.00%
Early repayment fee, percentage of prepaid amount, period two	1.00%
Default interest rate	5.00%
Prime Rate [Member]
Subsequent Event [Line Items]
Basis spread on variable rate	(3.50%)

Label	Element	Value
Series A Convertible Redeemable Preferred Stock [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 0
Shares, Issued	us-gaap_SharesIssued	0
Series A Convertible Redeemable Preferred Stock [Member] \| Initial Value [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 0
Series B Convertible Redeemable Preferred Stock [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 0
Shares, Issued	us-gaap_SharesIssued	0
Series B Convertible Redeemable Preferred Stock [Member] \| Initial Value [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 0
Series C Convertible Redeemable Preferred Stock [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 0
Shares, Issued	us-gaap_SharesIssued	0
Series C Convertible Redeemable Preferred Stock [Member] \| Initial Value [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 0

CASH AND CASH EQUIVALENTS (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Abstract]
Cash equivalent instruments	$ 62.2	$ 43.6

FAIR VALUE OF MEASUREMENTS AND INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 80,124
Available-for-sale Securities, Amortized Cost	80,424
Available-for-sale Securities, Gross Unrealized Gains	2
Available-for-sale Securities, Gross Unrealized Losses	(302)
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	62,214	$ 43,587
Available-for-sale Securities	80,124
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	52,714	43,587
Available-for-sale Securities	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	9,500	0
Available-for-sale Securities	80,124
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Available-for-sale Securities	0
US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	22,388
Available-for-sale Securities, Amortized Cost	22,417
Available-for-sale Securities, Gross Unrealized Gains	1
Available-for-sale Securities, Gross Unrealized Losses	(30)
US Treasury and Government [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	22,388
US Treasury and Government [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0
US Treasury and Government [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	22,388
US Treasury and Government [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	51,547
Available-for-sale Securities, Amortized Cost	51,807
Available-for-sale Securities, Gross Unrealized Gains	1
Available-for-sale Securities, Gross Unrealized Losses	(261)
Corporate Debt Securities [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	51,547
Corporate Debt Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0
Corporate Debt Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	51,547
Corporate Debt Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,189
Available-for-sale Securities, Amortized Cost	6,200
Available-for-sale Securities, Gross Unrealized Gains	0
Available-for-sale Securities, Gross Unrealized Losses	(11)
Municipal Bonds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,189
Municipal Bonds [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0
Municipal Bonds [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,189
Municipal Bonds [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0
Money Market Funds [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	52,714	43,587
Money Market Funds [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	52,714	43,587
Money Market Funds [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Money Market Funds [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	$ 0
US Government Corporations and Agencies Securities [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	9,500
US Government Corporations and Agencies Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0
US Government Corporations and Agencies Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	9,500
US Government Corporations and Agencies Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$ 0