Stock-based compensation (Tables)

10 Months Ended

Dec. 31, 2014

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

Summary of stock option activity

The following table summarizes stock option activity for employees and non-employees:

	Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Granted	1,020,234		$	3.19
Exercised	(13,572	)	0.60
Cancelled or forfeited	(79,830	)	1.14
Outstanding at December 31, 2014	926,832		$	3.40	9.67	$	6,846,054
Exercisable at December 31, 2014	3,891		$	0.60	9.29	$	39,649
Vested or expected to vest at December 31, 2014	867,333		$	3.39	9.66	$	6,421,021

Schedule of fair value assumptions

The Company estimates the fair value of each stock option award on the grant date using the Black-Scholes option-pricing model based on the following assumptions and the assumptions regarding the fair value of the underlying Common Stock on each measurement date:

	Period from February 26, 2014 (Inception) to December 31, 2014
Expected volatility	75.8% to 76.4%
Risk-free interest rate	1.59% to 2.71%
Expected term	6 - 10 years
Expected dividend yield	0	%

Summary of stock-based compensation expense

Total stock-based compensation expense recognized for employee and non-employee restricted common stock, and stock options granted to employees and non-employees is included in the Company's statement of operations and comprehensive loss as follows:

	Period from February 26, 2014 (Inception) to December 31, 2014
Research and development	$	648,001
General and administrative	814,060
Total	$	1,462,061