View Filing Data

62,140

70,303

Prepaid expenses and other current assets

406

430

1,203

693

Total current assets

80,075

86,869

Property and equipment, net

Other long-term assets

240

314

Other long-term assets, related party

Total assets

80,382

87,259

Current liabilities:

Accounts payable and accrued expenses

3,115

4,118

Accounts payable and accrued expenses, related party

1,195

937

Total current liabilities

4,310

5,055

Long-term liabilities

101

Total liabilities

4,316

5,156

Commitments and contingencies

Stockholders' equity:

Preferred stock, $0.0001 par value; 10,000 shares authorized; no shares issued and outstanding

Common stock, $0.0001 par value; 200,000 shares authorized; 21,371 shares issued; and 18,441 and 18,138 shares outstanding as of March 31, 2016 and December 31, 2015, respectively, excluding 2,930 and 3,233 shares subject to repurchase as of March 31, 2016 and December 31, 2015, respectively

Additional paid-in capital

108,975

108,484

Accumulated other comprehensive income (loss)

(87)

Accumulated deficit

(32,922)

(26,296)

Total stockholders' equity

76,066

82,103

Total liabilities and stockholders' equity

$ 80,382

$ 87,259

[1]	The balance sheet data at December 31, 2015 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares

Mar. 31, 2016

Dec. 31, 2015

^[1]

Statement Of Financial Position [Abstract]

Preferred stock, par value

$ 0.0001

Preferred stock, shares authorized

10,000,000

Preferred stock, shares issued

Preferred stock, shares outstanding

Common stock, par value

$ 0.0001

Common stock, shares authorized

200,000,000

Common stock, shares issued

21,371,000

Common stock, shares outstanding

18,441,000

18,138,000

Number of shares, subject to repurchase

2,930,000

3,233,000

[1]	The balance sheet data at December 31, 2015 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Expenses:
Research and development	$ 3,567	$ 2,604
Research and development, related party	1,082	1,024
General and administrative	2,365	1,037
General and administrative, related party	26	23
Total operating expenses	7,040	4,688
Other Income (Expense):
Management fee income, related party	300	300
Interest income	114
Interest expense		(42)
Interest expense, related party		(46)
Total other income	414	212
Net loss	$ (6,626)	$ (4,476)
Net loss per share, basic and diluted	$ (0.36)	$ (1.41)
Weighted average number of shares used in computing net loss per share, basic and diluted	18,245	3,184
Comprehensive Loss:
Net loss	$ (6,626)	$ (4,476)
Unrealized gain on marketable securities	98
Comprehensive loss	$ (6,528)	$ (4,476)

Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2016

Mar. 31, 2015

Operating Activities

Net loss

$ (6,626)

$ (4,476)

Adjustments to reconcile net loss to net cash used in operating activities:

Share-based compensation expense

490

644

Non-cash license fee expense

500

Non-cash accrued interest expense

Non-cash accrued interest expense, related party

Depreciation expense

Amortization of discount on marketable securities

Changes in operating assets and liabilities:

Prepaid expenses and other current assets

(318)

(510)

(664)

Other long-term assets

Accounts payable and accrued expenses

(1,097)

Accounts payable and accrued expenses, related party

258

927

Long-term liabilities

(907)

Net cash used in operating activities

(7,314)

(4,123)

Investing Activities

Maturities of marketable securities

12,200

Purchases of marketable securities

(4,003)

Purchases of property and equipment

(10)

Net cash provided by (used in) investing activities

8,197

(10)

Financing Activities

Proceeds from issuance of common stock, net

51,580

Proceeds from issuance of convertible notes payable

4,290

Proceeds from issuance of convertible notes payable, related party

710

Net cash provided by financing activities

56,580

Net increase in cash and cash equivalents

883

52,447

Cash and cash equivalents at beginning of period

15,443

^[1]

1,124

Cash and cash equivalents at end of period

$ 16,326

53,571

Supplemental disclosure of non-cash financing activities:

Conversion of convertible notes and related accrued interest to common stock

4,327

Conversion of convertible notes and related accrued interest to common stock, related party

3,288

Financing costs included in accounts payable and accrued expenses

$ 3,535

[1]	The balance sheet data at December 31, 2015 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Organization and Basis of Presentation	3 Months Ended
Organization and Basis of Presentation	Mar. 31, 2016
Accounting Policies [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation The Company Kura Oncology, Inc., is a clinical stage biopharmaceutical company discovering and developing personalized therapeutics for the treatment of solid tumors and blood cancers. We focus on the development of small molecule product candidates that target cell signaling pathways that are important to driving the progression of certain cancers. We aim to employ molecular diagnostics to identify patients with cancers who are likely to benefit from our targeted product candidates. References in these Notes to Unaudited Condensed Financial Statements to the “Company” or “we”, “our” or “us”, refer to Kura Oncology, Inc., a private Delaware corporation incorporated in the State of Delaware in August 2014, for the periods prior to our reverse merger transaction which took place on March 6, 2015, or the Merger, and Kura Oncology, Inc., a Delaware corporation incorporated in November 2007 and formerly known as Zeta Acquisition Corp. III, a public shell company, for the periods following the Merger. Basis of Presentation The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, as filed with the Securities and Exchange Commission on March 17, 2016, from which we derived our balance sheet as of December 31, 2015. The accompanying condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, since they are interim statements, the accompanying condensed financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accompanying condensed financial statements reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of our management, necessary to a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The preparation of the condensed financial statements in accordance with GAAP requires our management to make estimates and assumptions that affect the amounts reported in our condensed financial statements and accompanying notes. The amounts reported could differ under different estimates and assumptions. On an ongoing basis, we evaluate our estimates and judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity during the period from transactions and other events and non-owner sources. For the periods presented, accumulated other comprehensive income (loss) consists solely of unrealized gains and losses on marketable securities. Net Loss per Share We calculated basic net loss per common share by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of unvested restricted stock awards and outstanding stock options under our equity plan. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the antidilutive effect of the securities. Because of our net loss, unvested stock awards representing an aggregate of 2,929,850 and 4,191,081 shares of common stock and options to purchase an aggregate of 1,193,275 and zero shares of common stock are excluded from the calculation of diluted net loss per common share as of March 31, 2016 and 2015, respectively, due to the anti-dilutive effect of the securities. Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-02, Leases (Topic 842), which amends the existing accounting standards for accounting for leases. The amendments are to increase transparency and comparability among organizations by requiring recognition of lease assets and lease liabilities on the balance sheets and disclosure of key information about leasing arrangements. This pronouncement is effective for fiscal years beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted. The guidance is required to be adopted at the earliest period presented using a modified retrospective approach. We are currently evaluating the impact these amendments will have on our financial statements and the timing of when we will adopt the guidance. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718), which simplifies accounting for share-based award transactions specific to income tax consequences, forfeitures, the classification of awards as equity or liability, and the classification of award payments on the statement of cash flows. The pronouncement is effective for interim and annual periods beginning on or after December 15, 2016. Early adoption is permitted, but all of the guidance must be adopted in the same period. We are currently evaluating the impact this standard will have on our financial statements and the timing of when we will adopt the guidance.

Short-Term Investments

3 Months Ended

Mar. 31, 2016

Investments All Other Investments [Abstract]

Short-Term Investments

3. Short-Term Investments

The following tables summarize, by major security type, our short-term investments that are measured at fair value on a recurring basis, in thousands:

		As of March 31, 2016
	Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. Treasury securities	2 or less	$	20,009	$	15	$	—		$	20,024
Corporate debt securities	2 or less		18,899		4		(7	)		18,896
Commercial paper	1 or less		12,189	—		—				12,189
Government sponsored entities	1 or less		11,032		1		(2	)		11,031
Total		$	62,129	$	20	$	(9	)	$	62,140

		As of December 31, 2015
	Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. Treasury securities	2 or less	$	16,007	$	—	$	(18	)	$	15,989
Corporate debt securities	2 or less		22,758	—			(48	)		22,710
Commercial paper	1 or less		18,367	—		—				18,367
Government sponsored entities	2 or less		13,258	—			(21	)		13,237
Total		$	70,390	$	—	$	(87	)	$	70,303

Our investments are classified as current assets, even though the stated maturity date may be one year or more beyond the current balance sheet date, which reflects management’s intention to use the proceeds from sales of these securities to fund our operations, as necessary. As of March 31, 2016, $56.8 million of our investments had maturities less than one year and $5.3 million had maturities between one to two years. There were no realized gains or losses for the three months ended March 31, 2016. As of March 31, 2016, $15.6 million of our marketable securities were in gross unrealized loss positions, all of which had been in such position for less than twelve months. We reviewed our marketable securities as of March 31, 2016 and determined that the unrealized losses were not considered to be other-than-temporary based upon (i) the financial strength of the issuing institution and (ii) the fact that all securities have been in an unrealized loss position for less than twelve months. In addition, we do not intend to sell these securities and it is not more likely than not that we will be required to sell these securities before the recovery of their amortized cost basis. As of March 31, 2016, we had not recognized any such impairment in our condensed financial statements.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Fair Value Measurements

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

4. Fair Value Measurements

Investment Securities

As a basis for considering assumptions that market participants would use in pricing an asset or liability, the guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

•

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities;

•

Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and

•

Level 3 - Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing.

Available-for-sale marketable securities consist of U.S. Treasury securities, which were measured at fair value using Level 1 inputs, and corporate debt securities, commercial paper and government sponsored entities, which were measured at fair value using Level 2 inputs. We determine the fair value of Level 2 related securities with the aid of valuations provided by third parties using proprietary valuation models and analytical tools. These valuation models and analytical tools use market pricing or prices for similar instruments that are both objective and publicly available, including matrix pricing or reported trades, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids and/or offers. We validate the fair values of Level 2 financial instruments by comparing these fair values to a third-party pricing source. No transfers between levels have occurred during the periods presented.

The following tables summarize, by major security type, our cash equivalents and short-term investments that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy, in thousands:

	As of March 31, 2016
	Total Estimated Fair Value		Level 1		Level 2
Cash equivalents:
Money market funds	$	13,425	$	13,425	$	—

Short-term investments:
U.S. Treasury securities		20,024		20,024	—
Corporate debt securities		18,896	—			18,896
Commercial paper		12,189	—			12,189
Government sponsored entities		11,031	—			11,031
Total short-term investments		62,140		20,024		42,116
	$	75,565	$	33,449	$	42,116

	As of December 31, 2015
	Total Estimated Fair Value		Level 1		Level 2
Cash equivalents:
Money market funds	$	12,984	$	12,984	$	—

Short-term investments:
U.S. Treasury securities		15,989		15,989	—
Corporate debt securities		22,710	—			22,710
Commercial paper		18,367	—			18,367
Government sponsored entities		13,237	—			13,237
Total short-term investments		70,303		15,989		54,314
	$	83,287	$	28,973	$	54,314

Accounts Payable and Accrued Liabilities

3 Months Ended

Mar. 31, 2016

Payables And Accruals [Abstract]

Accounts Payable and Accrued Liabilities

5. Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consisted of the following, in thousands:

	March 31, 2016		December 31, 2015
Accounts payable	$	779	$	902
Accrued compensation and benefits		569		1,282
Other accrued expenses		1,767		1,934
Total accounts payable and accrued expenses	$	3,115	$	4,118

Equity Incentive Plan

3 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity Incentive Plan

6. Equity Incentive Plan

As of March 31, 2016, there were 714,131 shares of common stock reserved for future stock awards under our Amended and Restated 2014 Equity Incentive Plan, or the 2014 Plan. The number of shares available for future grant under our 2014 Plan automatically increases on January 1 of each year by 4% of the total number of shares of our common stock outstanding on December 31 of the preceding calendar year, subject to the ability of our board of directors to take action to reduce the size of the increase in any given year. On January 1, 2016, the initial automatic increase pursuant to the 2014 Plan occurred, resulting in 854,822 additional shares available for future grant under the 2014 Plan.

In addition, as of March 31, 2016, there were 238,705 shares of common stock reserved for future issuance under our 2015 Employee Stock Purchase Plan, or ESPP, which has not been implemented as of March 31, 2016. The number of shares of our common stock reserved for issuance under the ESPP automatically increases on January 1 of each calendar year by the lesser of 1% of the total number of shares of our common stock outstanding on December 31 of the preceding calendar year and 2,000,000 shares, subject to the ability of our board of directors to take action to reduce the size of the increase in any given year. On January 1, 2016, the initial automatic increase pursuant to the ESPP occurred, resulting in 213,705 additional shares available for future grant under the ESPP.

During the three months ended March 31, 2016, we granted options to purchase 632,713 shares of our common stock to employees, with the weighted average grant date fair value of $3.15 per share. We did not grant any stock options during the three months ended March 31, 2015.

The following table summarizes share-based compensation expense for all equity awards granted, in thousands:

	Three Months Ended
	March 31,
	2016		2015
Research and development	$	316	$	603
General and administrative		174		41
Total share-based compensation expense	$	490	$	644

For the three months ended March 31, 2016 and 2015, we recognized share-based compensation expense related to stock options of $250,000 and zero, respectively, of which $8,000 and zero related to non-employee stock options, respectively. For the three months ended March 31, 2016 and 2015, we recognized share-based compensation expense related to restricted stock awards totaling $239,000 and $644,000, respectively, of which $206,000 and $616,000 related to non-employee restricted stock awards, respectively. As of March 31, 2016, unrecognized compensation costs related to employee stock options and restricted stock awards were approximately $3.6 million and $327,000, respectively, which are expected to be recognized over a weighted average period of approximately 3.4 years and 2.5 years, respectively.

Related Party Transactions

3 Months Ended

Mar. 31, 2016

Related Party Transactions

7. Related Party Transactions

Our president and chief executive officer is also the sole managing member of our affiliated company Araxes. Four individuals are significant stockholders of each of us and Araxes. The following is a summary of all transactions with Araxes for the three months ended March 31, 2016:

•

Facility Sublease

We sublease office space from Araxes for a base rent of approximately $5,000 per month plus operating expenses, taxes, insurance, and utilities applicable to the subleased property. For the three months ended March 31, 2016 and 2015, rent expense related to this sublease was $26,000 and $25,000, respectively. The sublease will expire on August 30, 2016. We plan to extend the term of the sublease.

•

Management Fees

We have a management services agreement with Araxes under which Araxes pays us a fixed fee of $100,000 per month for management services. In addition, the agreement allows for Araxes to reimburse us an amount equal to the number of full time equivalents, or FTE, performing research and development services for Araxes, at an annual FTE rate of approximately $350,000, plus actual expenses as reasonably incurred. The initial term expired on December 31, 2015 but, pursuant to the terms of the agreement, renews automatically for additional consecutive one-year periods. The agreement may be terminated by either party with a notice of at least 30 days prior to the expiration of the then-renewal term. For the three months ended March 31, 2016 and 2015, we recorded reimbursements of $106,000 and $49,000, respectively, for research and development services provided to Araxes, which was recorded as a reduction to research and development expenses on the condensed statements of operations and comprehensive loss. As of March 31, 2016 and December 31, 2015, $406,000 and $430,000 related to management fees and reimbursements of research and development services, respectively, are included in accounts receivable, related party on the condensed balance sheets.

•

Services Agreement

We have a services agreement with Wellspring Biosciences LLC, a wholly owned subsidiary of Araxes, which allows for payment of research and development services provided to us of an amount equal to the number of FTE’s performing the services, at an annual FTE rate of $400,000, plus actual expenses as reasonably incurred. The initial term of this services agreement expired on December 31, 2015 but, pursuant to the terms of the agreement, renews automatically for additional consecutive one-year periods. The agreement may be terminated by either party with a notice of at least 30 days prior to the expiration of the then-renewal term. For the three months ended March 31, 2016 and 2015, we recognized $1.2 million and $1.1 million, respectively, from research and development services provided to us under this agreement as research and development expense, related party on the condensed statements of operations and comprehensive loss. As of March 31, 2016 and December 31, 2015, $1.2 million and $911,000, respectively, related to research and development services under this agreement are included in accrued expenses, related party on the condensed balance sheets.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Subsequent Event	3 Months Ended
Subsequent Event	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Event	8. Subsequent Event Loan and Security Agreement On April 27, 2016, we entered into a loan and security agreement, or the Loan Agreement, with Oxford Finance LLC and Silicon Valley Bank, or the Lenders, pursuant to which the Lenders have agreed to lend us up to $20.0 million in a series of term loans. Upon entering into the Loan Agreement, we borrowed $7.5 million from the Lenders, or Term A Loan. We plan to use the proceeds from the Term A Loan to provide additional funding for our development programs and for general corporate purposes. Under the terms of the Loan Agreement, we may, at our sole discretion, borrow from the Lenders up to an additional $12.5 million at any time between December 31, 2016 and May 1, 2017, or Term B Loan, and together with Term A Loan, the Term Loans, subject to our successful advancement of KO-947, a small molecule inhibitor of extracellular signal regulated kinase, into Phase 1 clinical trials. In addition, each Term B Loan must be in an amount equal to the lesser of $5.0 million or the amount that is remaining under the Term B Loan. All of the Term Loans will be due on the scheduled maturity date of November 1, 2020, or Maturity Date, and will be interest only through June 1, 2018, followed by 30 equal monthly payments of principal and interest. The interest rate for any outstanding amounts is the greater of (i) 7.75% and (ii) the sum of (a) the prime rate reported in The Wall Street Journal on the last business day of the month that immediately precedes the month in which the interest will accrue, plus (b) 4.25%. In addition, a final payment of 7.50% of the amounts of the Term Loans drawn will be due on the Maturity Date, acceleration of any Term Loan, or prepayment of the Term Loans. If we elect to prepay the outstanding amount under the Loan Agreement prior to the Maturity Date, a prepayment charge of 1%, 2% or 3%, of the then outstanding principal balance also will be due, depending upon when the prepayment occurs. We will also be required to pay an unused fee in an amount equal to (a) 2.00% multiplied by (b) $20.0 million minus the aggregate amount of the Term Loans drawn on or before May 1, 2017, on the earlier of May 2, 2017 or prior repayment of the Term Loans. We are subject to customary affirmative and restrictive covenants under the term loan facility. Issuance of Warrants In connection with the Loan Agreement, we issued to the Lenders warrants to purchase 67,976 shares of our common stock, or the Warrants. The Warrants are exercisable in whole or in part, immediately, and have an exercise price of $3.31 per share, which was the closing price of our common stock on the day prior to funding. The Warrants will terminate on the earlier of April 27, 2026 or the closing of a certain merger or consolidation transactions. If we borrow under Term B Loan, upon the funding of Term B Loan, we will issue to the Lenders additional warrants to purchase shares of our common stock equal to 3.00% of each Term B Loan amount divided by the lower of (i) the ten day average closing price of our common stock reported on the NASDAQ Global Select Market prior to funding or (ii) the closing price of our common stock reported on the NASDAQ Global Select Market on the day prior to funding. Such lower amount of (i) and (ii) above will also be the exercise price per share for such warrants. The terms of such warrants would be substantially the same as those contained in the Warrants.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2016
Accounting Policies [Abstract]
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity during the period from transactions and other events and non-owner sources. For the periods presented, accumulated other comprehensive income (loss) consists solely of unrealized gains and losses on marketable securities.
Net Loss per Share	Net Loss per Share We calculated basic net loss per common share by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of unvested restricted stock awards and outstanding stock options under our equity plan. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the antidilutive effect of the securities. Because of our net loss, unvested stock awards representing an aggregate of 2,929,850 and 4,191,081 shares of common stock and options to purchase an aggregate of 1,193,275 and zero shares of common stock are excluded from the calculation of diluted net loss per common share as of March 31, 2016 and 2015, respectively, due to the anti-dilutive effect of the securities.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-02, Leases (Topic 842), which amends the existing accounting standards for accounting for leases. The amendments are to increase transparency and comparability among organizations by requiring recognition of lease assets and lease liabilities on the balance sheets and disclosure of key information about leasing arrangements. This pronouncement is effective for fiscal years beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted. The guidance is required to be adopted at the earliest period presented using a modified retrospective approach. We are currently evaluating the impact these amendments will have on our financial statements and the timing of when we will adopt the guidance. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718), which simplifies accounting for share-based award transactions specific to income tax consequences, forfeitures, the classification of awards as equity or liability, and the classification of award payments on the statement of cash flows. The pronouncement is effective for interim and annual periods beginning on or after December 15, 2016. Early adoption is permitted, but all of the guidance must be adopted in the same period. We are currently evaluating the impact this standard will have on our financial statements and the timing of when we will adopt the guidance.

Short-Term Investments (Tables)

3 Months Ended

Mar. 31, 2016

Investments All Other Investments [Abstract]

Short-Term Investments Measured at Fair Value on Recurring Basis

The following tables summarize, by major security type, our short-term investments that are measured at fair value on a recurring basis, in thousands:

		As of March 31, 2016
	Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. Treasury securities	2 or less	$	20,009	$	15	$	—		$	20,024
Corporate debt securities	2 or less		18,899		4		(7	)		18,896
Commercial paper	1 or less		12,189	—		—				12,189
Government sponsored entities	1 or less		11,032		1		(2	)		11,031
Total		$	62,129	$	20	$	(9	)	$	62,140

		As of December 31, 2015
	Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. Treasury securities	2 or less	$	16,007	$	—	$	(18	)	$	15,989
Corporate debt securities	2 or less		22,758	—			(48	)		22,710
Commercial paper	1 or less		18,367	—		—				18,367
Government sponsored entities	2 or less		13,258	—			(21	)		13,237
Total		$	70,390	$	—	$	(87	)	$	70,303

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Schedule Of Fair Value Measurements, By Major Security Type

	As of March 31, 2016
	Total Estimated Fair Value		Level 1		Level 2
Cash equivalents:
Money market funds	$	13,425	$	13,425	$	—

Short-term investments:
U.S. Treasury securities		20,024		20,024	—
Corporate debt securities		18,896	—			18,896
Commercial paper		12,189	—			12,189
Government sponsored entities		11,031	—			11,031
Total short-term investments		62,140		20,024		42,116
	$	75,565	$	33,449	$	42,116

	As of December 31, 2015
	Total Estimated Fair Value		Level 1		Level 2
Cash equivalents:
Money market funds	$	12,984	$	12,984	$	—

Short-term investments:
U.S. Treasury securities		15,989		15,989	—
Corporate debt securities		22,710	—			22,710
Commercial paper		18,367	—			18,367
Government sponsored entities		13,237	—			13,237
Total short-term investments		70,303		15,989		54,314
	$	83,287	$	28,973	$	54,314

Accounts Payable and Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2016

Payables And Accruals [Abstract]

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consisted of the following, in thousands:

	March 31, 2016		December 31, 2015
Accounts payable	$	779	$	902
Accrued compensation and benefits		569		1,282
Other accrued expenses		1,767		1,934
Total accounts payable and accrued expenses	$	3,115	$	4,118

Equity Incentive Plan (Tables)

3 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Share-based Compensation Expense

The following table summarizes share-based compensation expense for all equity awards granted, in thousands:

	Three Months Ended
	March 31,
	2016		2015
Research and development	$	316	$	603
General and administrative		174		41
Total share-based compensation expense	$	490	$	644

Summary of Significant Accounting Policies - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Unvested Stock Awards
Summary Of Significant Accounting Policies [Line Items]
Potentially dilutive securities	2,929,850	4,191,081
Employee Stock Option
Summary Of Significant Accounting Policies [Line Items]
Potentially dilutive securities	1,193,275	0

Short-Term Investments - Short-Term Investments Measured at Fair Value on Recurring Basis (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Schedule Of Available For Sale Securities [Line Items]

$ 62,129

$ 70,390

(9)

(87)

Schedule Of Available For Sale Securities [Line Items]

$ 62,140

$ 70,303

^[1]

U.S. Treasury Securities

2 or less

$ 20,009

$ 16,007

(18)

Corporate Debt Securities

$ 20,024

$ 15,989

Schedule Of Available For Sale Securities [Line Items]

2 or less

$ 18,899

$ 22,758

(7)

(48)

Schedule Of Available For Sale Securities [Line Items]

$ 18,896

$ 22,710

Commercial Paper

1 or less

$ 12,189

$ 18,367

Government Sponsored Entities

$ 12,189

$ 18,367

Schedule Of Available For Sale Securities [Line Items]

1 or less

2 or less

$ 11,032

$ 13,258

(2)

(21)

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

$ 11,031

$ 13,237

[1]	The balance sheet data at December 31, 2015 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Short-Term Investments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016 USD ($)
Investments All Other Investments [Abstract]
Investments with maturities less than one year	$ 56,800,000
Investments with maturities between one to two years	5,300,000
Available-for-sale securities, realized gains or losses	0
Marketable securities gross unrealized loss positions for less than twelve months	$ 15,600,000

Fair Value Measurements - Fair Values of Investment Securities (Detail) - USD ($)
$ in Thousands

Mar. 31, 2016

Dec. 31, 2015

Government Sponsored Entities

$ 62,140

$ 70,303

^[1]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Measurements on Recurring Basis

11,031

13,237

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents and short-term investments

62,140

70,303

75,565

83,287

Fair Value Measurements on Recurring Basis | Money Market Funds

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents

13,425

12,984

Fair Value Measurements on Recurring Basis | U.S. Treasury Securities

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Measurements on Recurring Basis | Corporate Debt Securities

20,024

15,989

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Measurements on Recurring Basis | Commercial Paper

18,896

22,710

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Measurements on Recurring Basis | Level 1

12,189

18,367

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents and short-term investments

20,024

15,989

33,449

28,973

Fair Value Measurements on Recurring Basis | Level 1 | Money Market Funds

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents

13,425

12,984

Fair Value Measurements on Recurring Basis | Level 1 | U.S. Treasury Securities

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Measurements on Recurring Basis | Level 2

20,024

15,989

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Cash equivalents and short-term investments

42,116

54,314

42,116

54,314

Fair Value Measurements on Recurring Basis | Level 2 | Corporate Debt Securities

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Measurements on Recurring Basis | Level 2 | Commercial Paper

18,896

22,710

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Measurements on Recurring Basis | Government Sponsored Entities

12,189

18,367

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair Value Measurements on Recurring Basis | Government Sponsored Entities | Level 2

11,031

13,237

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Accrued compensation and benefits

$ 11,031

$ 13,237

[1]	The balance sheet data at December 31, 2015 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Accounts Payable and Accrued Liabilities (Detail) - USD ($)
$ in Thousands

Mar. 31, 2016

Dec. 31, 2015

Payables And Accruals [Abstract]

Accounts payable

$ 779

$ 902

569

1,282

Other accrued expenses

1,767

1,934

Total accounts payable and accrued expenses

$ 3,115

$ 4,118

^[1]

[1]	The balance sheet data at December 31, 2015 has been derived from audited financial statements at that date. It does not include, however, all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.

Equity Incentive Plan - Additional Information (Detail) - USD ($)		3 Months Ended
	Jan. 02, 2016	Mar. 31, 2016	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense		$ 490,000	$ 644,000
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted		632,713	0
Weighted average grant date fair value per share		$ 3.15
Share-based compensation expense		$ 250,000	$ 0
Non-employee share based compensation expense		8,000	0
Unrecognized stock option compensation expenses		$ 3,600,000
Weighted average service period		3 years 4 months 24 days
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense		$ 239,000	644,000
Non-employee share based compensation expense		206,000	$ 616,000
Unrecognized stock option compensation expenses		$ 327,000
Weighted average service period		2 years 6 months
2014 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common shares reserved for future issuance pursuant to future option grants		714,131
Percentage of increase in common shares reserved for future issuance pursuant to future option grants	4.00%
Additional common shares reserved for future issuance pursuant to future option grants	854,822
2015 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common shares reserved for future issuance pursuant to future option grants		238,705
2015 Employee Stock Purchase Plan \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional common shares reserved for future issuance pursuant to future option grants	213,705
Incremental number of shares of common stock available for future grants	2,000,000
2015 Employee Stock Purchase Plan \| Maximum \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of increase in common shares reserved for future issuance pursuant to future option grants	1.00%

Equity Incentive Plan - Summary of Share-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 490	$ 644
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	316	603
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 174	$ 41

Related Party Transactions - Additional Information (Detail) - USD ($)

3 Months Ended

Dec. 18, 2014

Oct. 01, 2014

Mar. 31, 2016

Mar. 31, 2015

Dec. 31, 2015

Office space sublease monthly rent

$ 406,000

$ 430,000

^[1]

Araxes Pharma LLC

$ 5,000

$ 26,000

$ 25,000

Sublease expiration date

Aug. 30, 2016

Management Fee, Description

Management service agreement, fixed

$ 100,000

Management service agreement, full time equivalents performing research and development services

$ 350,000

Agreement expiration date

Dec. 31, 2015

Agreement termination notice period

30 days

Amount received on research and development services

$ 106,000

49,000