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Stock based compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Compensation cost recognized for all stock-based compensation awards

Total compensation cost recognized for all stock‑based compensation awards in the statements of operations and comprehensive loss is as follows:Total compensation cost recognized for all stock‑based compensation awards in the statements of operations and comprehensive loss is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Period from

 

 

 

 

 

 

 

 

 

June 19, 2013

 

 

 

Year Ended

 

(Inception) to

 

 

 

December 31, 

 

December 31, 

 

 

    

2015

    

2014

    

2013

 

 

 

(in thousands)

 

Research and development

 

$
3,218

 

$
297

 

$

 —

 

General and administrative

 

 
809

 

 
128

 

 

 —

 

Total stock-compensation expense

 

$
4,027

 

$
425

 

$

 —

 

 

Summary of status and changes in unvested restricted stock

 

 

 

 

 

 

 

 

 

    

 

    

Weighted

 

 

 

 

 

 

Average

 

 

 

 

 

 

Grant Date

 

 

 

 

 

 

Fair Value

 

 

 

    

Shares

    

Per Share

 

 

Unvested restricted common stock as of December 31, 2013

 

 —

 

 

 

 

 

Issued

 
2,897,181

 

$
0.77

 

 

Vested

 
(318,364)

 

$
0.68

 

 

Repurchased

 

 —

 

 

 —

 

 

Unvested restricted common stock as of December 31, 2014

 
2,578,817

 

$
0.77

 

 

Issued

 

 —

 

 

 

 

 

Vested

 
(717,747)

 

$
0.77

 

 

Repurchased

 
(42,809)

 

$
0.68

 

 

Unvested restricted common stock as of December 31, 2015

 
1,818,261

 

$
0.76

 

 

 

Summary of status and changes in stock options

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Weighted

    

Remaining

    

Aggregate

 

 

 

 

Average

 

Contractual

 

Intrinsic

 

 

 

 

Exercise

 

Life

 

Value

 

    

Shares

    

Price

    

(in years)

    

(in thousands)

Outstanding at December 31, 2014

 

 —

 

 

 

 

 

 

 

 

Granted

 
1,030,068

 

$
8.34

 

 

 

 

 

Exercised

 
(1,344)

 

$
8.39

 

 

 

 

 

Cancelled or forfeited

 
(6,107)

 

$
7.27

 

 

 

 

 

Outstanding at December 31, 2015

 
1,022,617

 

$
8.35

 
9.5

 

$
13,887

Exercisable at December 31, 2015

 
94,762

 

$
7.51

 
9.2

 

$
1,363

Vested and expected to vest at December 31, 2015

 
1,022,617

 

$
8.35

 
9.5

 

$
13,887

 

Employees and directors stock options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Assumptions

 

 

 

 

 

 

Year Ended

 

 

    

December 31, 2015

    

Risk-free interest rate

 
1.6

%  

Expected dividend yield

 

 —

%

Expected term (in years)

 
6.0

 

Expected volatility

 
78.6

%  

 

Non-employees stock options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Assumptions

 

 

 

 

 

 

Year Ended

 

 

    

December 31, 2015

 

Risk-free interest rate

 
2.0

%

Expected dividend yield

 

 —

%

Expected term (in years)

 
10.0

 

Expected volatility

 
84.0

%