Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2015	Mar. 30, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Trading Symbol	ALDX
Entity Registrant Name	ALDEYRA THERAPEUTICS, INC.
Entity Central Index Key	0001341235
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,712,521
Entity Public Float			$ 59,343,452

Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 14,648,866	$ 8,527,304
Marketable securities	12,941,776
Prepaid expenses and other current assets	497,552	232,568
Total current assets	28,088,194	8,759,872
Deferred offering costs	36,236	14,238
Fixed assets, net	80,334	12,993
Total assets	28,204,764	8,787,103
Current liabilities:
Accounts payable	851,160	341,294
Accrued expenses	1,186,429	908,724
Current portion of credit facility	77,546	77,546
Total current liabilities	2,115,135	1,327,564
Credit facility, net of current portion and debt discount	1,211,310	1,175,481
Total liabilities	$ 3,326,445	$ 2,503,045
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, $0.001 par value, 15,000,000 shares authorized, none issued and outstanding
Common stock, voting, $0.001 par value; 150,000,000 authorized and 9,712,521 and 5,565,415 shares issued and outstanding, respectively	$ 9,713	$ 5,565
Additional paid-in capital	83,478,851	52,790,090
Accumulated other comprehensive loss, net of tax	(8,361)
Accumulated deficit	(58,601,884)	(46,511,597)
Total stockholders' equity	24,878,319	6,284,058
Total liabilities and stockholders' equity	$ 28,204,764	$ 8,787,103

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	15,000,000	15,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	9,712,521	5,565,415
Common stock, shares outstanding	9,712,521	5,565,415

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Operating expenses:
Research and development	$ 7,574,398	$ 3,707,544
General and administrative	4,414,709	3,563,046
Loss from operations	(11,989,107)	(7,270,590)
Other income (expense):
Change in fair value of preferred stock warrant liabilities		2,327,502
Interest income	11,126	3
Interest expense	(112,306)	(244,174)
Total other income (expense), net	(101,180)	2,083,331
Net loss	(12,090,287)	(5,187,259)
Accretion of preferred stock		(333,082)
Deemed dividend		(4,053,570)
Net loss attributable to common stockholders	$ (12,090,287)	$ (9,573,911)
Net loss per share attributable to common stockholders:
Basic	$ (1.40)	$ (2.51)
Diluted	$ (1.40)	$ (3.09)
Weighted average common shares outstanding:
Basic	8,633,897	3,818,157
Diluted	8,633,897	3,850,612

Statements of Comprehensive Loss - USD ($)	12 Months Ended
Statements of Comprehensive Loss - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (12,090,287)	$ (5,187,259)
Other comprehensive loss:
Unrealized loss on marketable securities, net of tax	(8,361)
Total other comprehensive loss	(8,361)
Comprehensive loss	$ (12,098,648)	$ (5,187,259)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($)	Total	Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Total Redeemable Convertible Preferred Stock [Member]	Common Voting Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss, Net of Tax [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2013	$ (40,221,326)	$ 29,291,865	$ 9,025,433	$ 38,317,298	$ 327	$ 1,102,685		$ (41,324,338)
Beginning Balance, Shares at Dec. 31, 2013		980,391	1,316,681		327,365
Stock-based compensation	2,037,073					2,037,073
Accretion of discounts and issuance costs on preferred stock	(333,082)	$ 78,037	$ 255,045	333,082		(333,082)
Issuance of common stock, net of issuance costs	9,976,907				$ 1,500	9,975,407
Issuance of common stock, net of issuance costs, Shares					1,500,000
Conversion of Preferred	38,650,380	$ (29,369,902)	$ (9,280,478)	$ (38,650,380)	$ 3,643	38,646,737
Net exercise of warrants	1,191,365				$ 74	1,191,291
Net exercise of warrants, Shares					74,001
Conversion feature on convertible promissory note	170,000				$ 21	169,979
Conversion feature on convertible promissory note, Shares					21,250
Net loss	(5,187,259)							(5,187,259)
Ending Balance at Dec. 31, 2014	$ 6,284,058				$ 5,565	52,790,090		(46,511,597)
Ending Balance, Shares at Dec. 31, 2014					5,565,415
Conversion of Preferred, Shares	3,642,799	(980,391)	(1,316,681)		3,642,799
Stock-based compensation	$ 2,187,102					2,187,102
Issuance of common stock, net of issuance costs	28,505,807				$ 4,148	28,501,659
Issuance of common stock, net of issuance costs, Shares					4,147,106
Other comprehensive loss	(8,361)						$ (8,361)
Net loss	(12,090,287)							(12,090,287)
Ending Balance at Dec. 31, 2015	$ 24,878,319				$ 9,713	$ 83,478,851	$ (8,361)	$ (58,601,884)
Ending Balance, Shares at Dec. 31, 2015					9,712,521

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (12,090,287)	$ (5,187,259)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	2,187,102	2,037,073
Amortization of debt discount - non-cash interest expense	35,829	150,852
Change in fair value of warrant liability, purchase rights and warrant purchase rights		(2,327,502)
Depreciation	18,778	1,069
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(264,984)	(224,156)
Accounts payable	509,866	(559)
Accrued interest on convertible notes related parties		(2,125)
Accrued expenses	291,943	776,613
Net cash used in operating activities	(9,311,753)	(4,775,994)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of property and equipment	(86,119)	(14,062)
Purchases of marketable securities	(12,950,137)
Net cash used in investing activities	(13,036,256)	(14,062)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of issuance costs	28,505,807	10,055,006
Borrowings under credit facility, net		1,395,833
Repayments of credit facility		(1,395,833)
Deferred offering costs paid in cash	(36,236)
Net cash provided by financing activities	28,469,571	10,055,006
NET INCREASE IN CASH	6,121,562	5,264,950
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	8,527,304	3,262,354
CASH AND CASH EQUIVALENTS, END OF PERIOD	14,648,866	8,527,304
Cash paid during the period for:
Interest	74,299	96,794
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Deferred offering costs not yet paid	$ 36,236	14,238
Accretion of redeemable convertible preferred stock		333,082
Conversion of notes payable		170,000
Net exercise of warrants into common stock		1,191,365
Warrants issued to underwriter in initial public offering		315,388
Series A Preferred Stock [Member]
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Conversion of Series A and B preferred stock upon closing initial public offering		29,369,902
Series B Preferred Stock [Member]
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Conversion of Series A and B preferred stock upon closing initial public offering		$ 9,280,478

Nature of Business	12 Months Ended
Nature of Business	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	1. NATURE OF BUSINESS Aldeyra Therapeutics, Inc. (the Company or Aldeyra) was incorporated in the state of Delaware on August 13, 2004 as Neuron Systems, Inc. On December 20, 2012, the Company changed its name to Aldexa Therapeutics, Inc. and, on March 17, 2014, the Company changed its name to Aldeyra Therapeutics, Inc. The Company is developing a treatment for diseases related to high levels of aldehydes, naturally occurring pro-inflammatory toxins. The ongoing research and development activities will be subject to extensive regulation by numerous governmental authorities in the United States. Prior to marketing in the United States, any drug developed by the Company must undergo rigorous preclinical and clinical testing and an extensive regulatory approval process implemented by the United States Food and Drug Administration (FDA) under the Food, Drug and Cosmetic Act. The Company has limited experience in conducting and managing the preclinical and clinical testing necessary to obtain regulatory approval. There can be no assurance that the Company will not encounter problems in the clinical trials that will cause the Company or the FDA to delay or suspend clinical trials. The Company’s success will depend in part on its ability to obtain patents and product license rights, maintain trade secrets, and operate without infringing on the property rights of others, both in the United States and other countries. There can be no assurance that patents issued to or licensed by the Company will not be challenged, invalidated, circumvented, or that the rights granted thereunder will provide proprietary protection or competitive advantages to the Company. The Company’s principal activities to date include raising capital and research and development activities.

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. BASIS OF PRESENTATION *Basis of Presentation and Management’s Plans* – The accompanying financial statements were prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP). *Liquidity and Management’s Plans* – At December 31, 2015, the Company had an accumulated deficit of approximately $58.6 million and cash and cash equivalents and marketable securities of approximately $27.6 million. On May 7, 2014, the Company closed its Initial Public Offering, in which 1,500,000 shares of common stock were sold at a price to the public of $8.00 per share for an aggregate offering price of $12.0 million. The offer and sale of all of the shares in the Initial Public Offering were registered under the Securities Act of the 1933, as amended, pursuant to a registration statement on Form S-1 (File No. 333-193204), which was declared effective by the SEC on May 1, 2014. The Company raised approximately $10.0 million in net proceeds after deducting underwriting discounts and commissions of $0.8 million, $1.0 million in prepaid offering and printing costs and other offering costs of $0.2 million. On January 15, 2015, the Company sold, in a private placement, an aggregate of approximately 1.1 million shares of common stock at a price of $7.00 per share. Investors received warrants to purchase up to approximately 1.1 million shares of common stock at an exercise price of $9.50. The warrants will expire 3 years from the date of issuance. The warrants do not include a net-exercise feature. The warrants may be redeemed by the Company at a price of $0.001 per share upon notice to the holders in the event that the closing bid for Aldeyra’s common stock for each of the fifteen consecutive trading days prior to such redemption is at least $20.00 per share and the average trading volume of Aldeyra’s common stock during such period is 50,000 shares per day. Following Aldeyra’s notification to the warrant holders of its exercise of the redemption right under the warrants, each warrant holder will have the option to exercise their warrants prior to the redemption date rather than having them redeemed. The Company raised approximately $7.1 million in net proceeds in the private placement of common stock and warrants. On January 22, 2015, in a subsequent private placement, the Company sold an aggregate of 211,528 shares of common stock at a price of $9.33 per share and a warrant to purchase up to 211,528 shares of common stock at a price of $0.125 per share subject to the warrant. The exercise price of the warrant is $9.50 per share. The warrant will expire 3 years from the date of issuance. The warrant does not include a net-exercise feature. The warrant may be redeemed by the Company at a price of $0.001 per share upon notice to the holder thereof in the event that the closing bid for Aldeyra’s common stock for each of the fifteen consecutive trading days prior to such redemption is at least $20.00 per share and the average trading volume of Aldeyra’s common stock during such period is 50,000 shares per day. Following Aldeyra’s notification to the warrant holder of its exercise of the redemption right under the warrant, the warrant holder will have the option to exercise the warrant prior to the redemption date rather than having it redeemed. The Company raised approximately $1.9 million in net proceeds in the private placement of common stock and a warrant to purchase common stock. On May 22, 2015, the Company raised approximately $19.5 million, after deducting underwriting discounts and commissions and other offering expenses, through the issuance and sale of 2,822,500 shares of common stock in a follow-on public offering, including shares sold pursuant to the underwriters exercise of their option to purchase additional shares of common stock. In addition, as discussed in Note 8, in November 2015, the Company amended its credit facility (the Credit Facility) with Pacific Western Bank (Pacific Western). Pacific Western agreed to make term loans in a principal amount of up to $5.0 million available to the Company with proceeds to be used first to refinance outstanding loans from Pacific Western, second to fund expenses related to the Company’s clinical trials, and the remainder for general working capital purposes. The term loans are to be made available to the Company upon the following terms: (i) $2.0 million was made available on November 10, 2014; and (ii) $3.0 million (the Tranche B Loan) is to be made available to the Company following the satisfaction of certain conditions, including receipt of positive phase 2 data in either SLS or noninfectious anterior uveitis. Each term loan accrues interest from its date of issue at a variable annual interest rate equal to the greater of 2.0% plus prime or 5.25% per annum. Any term loan made is payable as interest-only prior to November 2016 and thereafter is payable in monthly installments of principal plus accrued interest over 36 months. The Credit Facility is collateralized by the Company’s assets, including its intellectual property. The Company’s management believes that its currently available resources, including amounts available under the Credit Facility, will provide sufficient funds to enable the Company to meet its obligations through at least the end of 2017. The Company will need to raise additional capital to implement its near-term business plan. Additional funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to secure additional capital, or meet financial covenants that could be implemented under the Company’s term loans in certain circumstances, it will be required to significantly decrease the amount of planned expenditures, and may be required to cease operations. Curtailment of operations would cause significant delays in the Company’s efforts to introduce its products to market, which is critical to the realization of its business plan and the future operations of the Company. *Use of Estimates* – The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company evaluates its estimates and assumptions on an ongoing basis. The most significant estimates in the Company’s financial statements relate to accruals, including research and development costs, accounting for income taxes and the related valuation allowance, estimating the fair value of the Company’s common and preferred stock, preferred stock warrants, purchase rights and warrant purchase rights, and accounting for stock based compensation and the related fair value. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions. *Segment Information* – Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one segment, which is the identification and development of a treatment for diseases related to high levels of aldehydes. *Cash and Cash Equivalents* – The Company classifies all highly liquid investments with original maturities of three months or less as cash equivalents and all highly liquid investments with original maturities of greater than three months as current marketable securities. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating. The Company invests its cash primarily in reverse repurchase agreements (RRAs), government securities and obligations, and money market funds. RRAs are collateralized by deposits in the form of ‘Government Securities and Obligations’ for an amount not less than 102% of their value. The Company does not record an asset or liability related to the collateral as the Company is not permitted to sell or repledge the associated collateral. The Company has a policy that the collateral has at least an A (or equivalent) credit rating. The Company utilizes a third party custodian to manage the exchange of funds and ensure that collateral received is maintained at 102% of the value of the RRAs on a daily basis. RRAs with original maturities of greater than three months are classified as marketable securities. *Marketable Securities* – Marketable securities consist of government securities and obligations with original maturities of more than 90 days. Investments are classified as available-for-sale and are recorded on the balance sheet at fair value with unrealized gains or losses reported as a separate component of other comprehensive loss. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination at each balance sheet date. *Fair Value of Financial Instruments* – Financial instruments including cash equivalents and accounts payable are carried in the financial statements at amounts that approximate their fair value based on the short maturities of those instruments. The carrying amount of the Company’s term loans under its credit facility approximates market rates currently available to the Company. Marketable securities are carried at fair value and are more fully described in Note 5. *Concentration of Credit Risk* – Financial instruments that potentially subject us to significant concentrations of credit risk principally consist of cash, cash equivalents and marketable securities. We place our cash and cash equivalents and marketable securities with financial institutions with high credit ratings. As part of our cash and investment management processes, we perform periodic evaluations of the credit standing of the financial institutions with whom we maintain deposits, and have not recorded any credit losses to-date. *Intellectual Property* – The legal and professional costs incurred by the Company to acquire its patent rights are expensed as incurred and included in operating expenses. At December 31, 2015 and 2014, the Company has determined that these expenses have not met the criteria to be capitalized. Intellectual property related expenses for the years ended December 31, 2015 and 2014 were $473,878 and $184,517, respectively. *Income Taxes* – The Company follows the provisions of FASB ASC 740, Income Taxes, in reporting deferred income taxes. ASC 740 requires a company to recognize deferred tax liabilities and assets for expected future income tax consequences of events that have been recognized in the Company’s financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in the years in which the temporary differences are expected to reverse. Valuation allowances are provided if based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions pursuant to ASC 740 which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes. Management is not aware of any uncertain tax positions. *Research and Development Costs* – Research and development costs are charged to expense as incurred. Research and development expenses include consulting expenses, preclinical studies, clinical trials, clinical trial materials, regulatory and clinical consultants, lab supplies, lab services, lab equipment maintenance and small equipment purchased to support the research laboratory. Research and development costs that are paid in advance of performance are capitalized as a prepaid expense until incurred. *Stock-Based Compensation* – Stock-based payments are accounted for in accordance with the provisions of ASC 718, Compensation – Stock Compensation. For options, the fair value of stock-based payments is estimated, on the date of grant, using the Black-Scholes option pricing model. For restricted stock, fair value is based on the fair value of the stock on the date of grant. The resulting fair value for restricted stock and options expected to vest is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the applicable restricted stock or option. Equity instruments issued to nonemployees are accounted for under the provisions of ASC 718 and ASC 505-50, Equity – Equity-Based Payments to Non-Employees. Accordingly, the estimated fair value of the equity instrument is recorded on the earlier of the performance commitment date or the date the services are completed and are marked to market through the date of vesting. From time to time the Company may grant awards with performance conditions necessary to be achieved in order to vest in the award. The Company records compensation expense for those awards over the vesting period of the award to the extent the performance conditions are deemed probable of achievement. From time to time the Company may grant awards with a market condition necessary to be achieved in order to vest in the award. The Company records compensation expense for those awards over the vesting period of the award on a straight-line basis utilizing Monte Carlo simulations to estimate the timing and number of shares that are most likely to vest. *Comprehensive Loss* – Comprehensive loss is defined as the change in equity during a period from transactions and other events and/or circumstances from non-owner sources. For December 31, 2015, comprehensive loss is equal to the Company’s net loss of $12.1 million and an unrealized loss on marketable securities of $8,000. For December 31, 2014, comprehensive loss is equal to net loss of $5.2 million. *Net Loss Applicable to Common Stock* – The Company computes net loss per share in accordance with the two-class method. Under the two-class method, net income is allocated between common stock and other participating securities based on their participation rights. The Company has determined that their outstanding Series A and Series B Preferred Stock represents a participating security and as such the preferred shares are excluded from basic earnings per share. Net losses are not allocated to the preferred stockholders for computing net loss per share under the two-class method because preferred stockholders do not have contractual obligations to share in the losses of the Company. Basic earnings per share is calculated by dividing income allocable to common stockholders (after reduction for preferred stock dividends assuming current income for the period had been distributed) by the weighted average number of common stock outstanding. Diluted net loss per share is computed using the more dilutive of (a) the two-class method, or (b) the if-converted method or treasury stock method, as applicable, to the potentially dilutive instruments. The Company allocates net income first to preferred stockholders based on dividend rights and then to common and preferred stockholders based on ownership interests. The weighted-average number of common shares outstanding gives effect to all potentially dilutive common equivalent shares, including outstanding stock options and restricted stock, warrants, rights to purchase additional shares of preferred stock, rights for warrants to purchase preferred stock and convertible debt. *Recent Accounting Pronouncements* – In November 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-17 “Income Taxes: Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). To simplify the presentation of deferred income taxes, the amendments in this update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This update is required to be effective for all public Companies for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted. We do not believe that ASU 2015-17 will have a material impact on our financial statements. In February of 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). Under ASU 2016-2, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company is in the process of evaluating the future impact of ASU 2016-02 on its financial position, results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). The amendments in ASU 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for the Company in the first quarter of fiscal year 2017, with early adoption permitted. ASU 2015-03 should be applied on a retrospective basis to each individual period presented. Upon implementation, the change in reporting debt issuance costs will require the Company to reclassify any deferred financing costs from an asset to a reduction of the reported debt balance. The application of ASU 2015-03 is not expected to have a material impact on the presentation of the Company’s financial position. 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”), to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. The Company early adopted ASU 2014-15 in the year ended December 31, 2015, and it did not have an impact on the Company’s financial statements.

Net Loss Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Net Loss Attributable to Common Stockholders

3.	NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS

Net loss attributable to common stockholders

The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company:


	Years ended December 31,
	2015			2014
Numerator:
Basic
Net loss	$	(12,090,287	)	$	(5,187,259	)
Accretion of preferred stock		—			(333,082	)
Deemed dividend		—			(4,053,570	)

Net loss attributable to common stockholders – basic	$	(12,090,287	)	$	(9,573,911	)

Diluted
Net loss attributable to common stockholders – basic		(12,090,287	)		(9,573,911	)
Less: change in fair value of derivative liabilities		—			(2,327,502	)

Net loss available to common stockholders – diluted	$	(12,090,287	)	$	(11,901,413	)

Denominator:
Basic
Weighted-average number of common shares – basic		8,633,897			3,818,157

Diluted
Weighted-average number of common shares – basic		8,633,897			3,818,157
Warrants (treasury stock)		—			32,455

Total weighted average number of common shares – diluted		8,633,897			3,850,612

Net loss per share:
Basic	$	(1.40	)	$	(2.51	)

Diluted	$	(1.40	)	$	(3.09	)

The following potentially dilutive securities outstanding, prior to use of the treasury stock method or if-converted method, have been excluded from the computation of diluted weighted-average shares outstanding, because such securities had an antidilutive impact:


	Years ended December 31,
	2015		2014
Options to purchase common stock		1,077,330		874,032
Warrants to purchase common stock		1,384,608		60,000

Total of common stock equivalents		2,461,938		934,032

Cash, Cash Equivalents and Marketable Securities

12 Months Ended

Dec. 31, 2015

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Marketable Securities

4.	CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES

At December 31, 2015, cash, cash equivalents and marketable securities were comprised of:


	Carrying Amount		Unrecognized Gain		Unrecognized Loss			Estimated Fair Value		Cash Equivalents		Current Marketable Securities
Cash	$	1,662,980	$	—	$	—		$	1,662,980	$	1,662,980	$	—
Money market funds		35,886		—		—			35,886		35,886		—

	Carrying Amount		Unrealized Gain		Unrealized Loss			Estimated Fair Value
U.S. Reverse repurchase agreements		12,950,000		—		—			12,950,000		12,950,000		—
Government securities		12,950,137		—		(8,361	)		12,941,776		—		12,941,776
Available for Sale(1)		25,900,137		—		(8,361	)		25,891,776		12,950,000		12,941,776

										$	14,648,866	$	12,941,776

Total Cash, cash equivalents and current marketable securities

⁽¹⁾	Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.

Fair value of government securities and obligations and corporate debt securities were estimated using quoted broker prices and significant other observable inputs.

The contractual maturities of all available for sale securities are less than one year at December 31, 2015.

Fair Value Measurements

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

5.	FAIR VALUE MEASUREMENTS

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value are performed in a manner to maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820, Fair Value Measurements, establishes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value, which are the following:

Level 1 – Quoted prices in active markets that are accessible at the market date for identical unrestricted assets or liabilities.

Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs for which all significant inputs are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

There were no liabilities measured at fair value at December 31, 2015. There were no assets or liabilities measured at fair value at December 31, 2014.


	December 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	35,886	$	—	$	—	$	35,886
Repurchase agreements		—		12,950,000		—		12,950,000
U.S. government agency securities		—		12,941,776		—		12,941,776

Total assets at fair value	$	35,886	$	25,891,776	$	—	$	25,927,662

See Note 2 for financial assets and liabilities held at carrying amount on the Balance Sheet.

- 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

Accrued Expenses

12 Months Ended

Dec. 31, 2015

Payables and Accruals [Abstract]

Accrued Expenses

6.	ACCRUED EXPENSES

Accrued expenses at December 31, 2015 and 2014 were:


	2015		2014
Accrued compensation	$	394,773	$	444,786
Accrued research and development		550,323		313,642
Accrued general & administrative		192,676		101,457
Accrued other		48,657		48,839

Accrued expenses	$	1,186,429	$	908,724

Convertible Notes Payable - Related Parties

12 Months Ended

Dec. 31, 2015

Text Block [Abstract]

Convertible Notes Payable - Related Parties

7.	CONVERTIBLE NOTES PAYABLE – RELATED PARTIES

In October 2013, the Company issued a convertible promissory note to Domain Partners VI, L.P., a related party, in a principal amount of $170,000, which was amended in February 2014 to extend its maturity date. The amendment to the note was determined to be a modification in accordance with ASC 470, Debt, and did not result in extinguishment. The note accrued interest at a rate of 6% per annum, and was to become due and payable in June 2014 unless converted into shares of the Company’s capital stock prior to such time pursuant to its terms.

The Company recorded the difference between the current Series B Preferred Stock Conversion price and the fair value of the Series B Preferred Stock at the date of issuance, limited to the face amount of the convertible promissory note of $170,000, as a beneficial conversion feature. This was reflected as a debt discount and was amortized to interest expense through the note’s maturity date.

Upon the Company’s Initial Public Offering in May 2014, the note automatically converted into 21,250 shares of the Company’s common stock. As of that date the remaining beneficial conversion feature was expensed.

Credit Facility

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Credit Facility

8.	CREDIT FACILITY

In April 2012, the Company entered into a loan and security agreement (the Credit Facility) with Pacific Western which was subsequently amended in November 2013 to provide the Company with $1.5 million of available funds. The amended Credit Facility called for interest only payments at a 6.50% interest rate from November 2013 through November 2014 for all amounts outstanding, at which point, the Company was scheduled to make principal payments of $58,160 plus interest through the maturity date of the term loans in November 2016. In November 2014, the Credit Facility was further amended. Pursuant to the Credit Facility, Pacific Western agreed to make term loans in a principal amount of up to $5.0 million available to the Company with proceeds to be used first to refinance outstanding loans from Pacific Western second to fund expenses related to the Company’s clinical trials, and the remainder for general working capital purposes. The term loans are to be made available to the Company upon the following terms: (i) $2.0 million was made available in November 2014; and (ii) $3.0 million (the Tranche B Loan) is to be made available to the Company following the satisfaction of certain conditions, including receipt of positive phase 2 data in either Sjögren-Larsson Syndrome (SLS) or noninfectious anterior uveitis. As of December 31, 2014, $1.4 million was outstanding under the Credit Facility. Each term loan accrues interest from its date of issue at a variable annual interest rate equal to the greater of 2.0% plus prime or 5.25% per annum. Any term loan made was payable as interest-only prior to November 2015 and thereafter was scheduled to be payable in monthly installments of principal plus accrued interest through the maturity date in November 2018. The amended Credit Facility was amended again in November 2015 extending the interest only period and the Tranche B conditions. Each term loan accrues interest from its date of issue at a variable annual interest rate equal to the greater of 2.0% plus prime or 5.25% per annum. The effective interest rate through December 31, 2015 was 7.89%. Any term loan made is payable as interest-only prior to November 2016 and thereafter is payable in monthly installments of principal plus accrued interest over 36 months. The Credit Facility is collateralized by the Company’s assets, including its intellectual property. As of December 31, 2015, $1.4 million was outstanding under the Credit Facility.

Future maturities of the existing term loans under the Credit Facility as of December 31, 2015 are as follows:


2016	$	77,546
2017		465,278
2018		465,278
2019		387,731

Total	$	1,395,833

In conjunction with obtaining the November 2013 amended credit facility, the Company issued a warrant exercisable for 9,692 shares of Series B Preferred Stock with an exercise price of $5.16 per share and a term of seven years (Note 12). The warrant was valued at $178,000 and, together with the fair value of the warrant issued in connection with the April 12, 2012 Credit Facility ($88,000), was recorded as a discount on the Credit Facility. These discounts are being amortized using the effective interest method through the current maturity date of the Credit Facility in November 2018. All amendments to the credit facility was determined to be modifications in accordance with ASC 470, Debt and did not result in extinguishment.

At December 31, 2015 and 2014, the Credit Facility is shown net of a remaining debt discount of $107,000 and $143,000, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

9.	INCOME TAXES

No provision for federal and state taxes has been recorded as the Company has incurred losses since inception for tax purposes. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

In assessing the realizability of net deferred taxes in accordance with ASC 740, Income Taxes, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on the weight of available evidence, primarily the incurrence of net losses since inception, anticipated net losses in the near future, reversals of existing temporary differences and expiration of various federal and state attributes, the Company does not consider it more likely than not that some or all of the net deferred taxes will be realized. Accordingly, a 100% valuation allowance has been applied against net deferred taxes.

As of December 31, 2015, the Company had Federal and State income tax net operating loss (“NOL”) carryforwards of approximately $26.1 million and $23.3 million, respectively, which will expire at various dates through 2035. As of December 31, 2015, the Company had Federal and State research and development tax credit carryforwards of approximately $623,000 and $67,000, respectively, which will expire at various dates through 2035.

Significant components of the Company’s deferred tax assets and liabilities at December 31, 2015 and 2014 are as follows:


	12/31/2015			12/31/2014
Deferred Tax Assets
Federal & State NOL carryforward	$	10,115,458		$	6,210,836
Federal & State R&D credit carryforward		667,688			421,828
Intangibles – net		932,060			1,163,905
Accounts payable and accrued expenses		591,843			402,062
Stock options		2,152,854			1,432,312
Fixed Assets		213			—

Gross deferred tax assets		14,460,116			9,630,943
Valuation Allowance – US		(14,418,095	)		(9,574,752	)

Net Deferred Tax Assets		42,021			56,191
Deferred Tax Liabilities
Note Discounts		(42,021	)		(56,094	)
Fixed Assets		—			(97	)

Gross deferred tax liabilities		(42,021	)		(56,191	)

TOTAL	$	—		$	—

The change in valuation allowance of $4.8 million from December 31, 2014 to December 31, 2015 is driven by no tax benefit being recorded on the current year loss from operations.

Under Section 382 of the Internal Revenue Code of 1986, as amended (Code), a corporation that undergoes an “ownership change” is subject to limitations on its ability to utilize its pre-change net operating losses (NOLs) and certain other tax assets (tax attributes) to offset future taxable income. In general, an ownership change occurs if the aggregate stock ownership of certain stockholders increases by more than 50 percentage points over such stockholders’ lowest percentage ownership during the testing period (generally three years). Transactions involving the Company’s common stock, even those outside the Company’s control, such as purchases or sales by investors, within the testing period could result in an ownership change. A limitation on the Company’s ability to utilize some or all of its NOLs or credits could have a material adverse effect on the Company’s results of operations and cash flows. In the past, Aldeyra has undergone two ownership changes. However, the Company’s management believes that it had sufficient “Built-In-Gain” to offset the Section 382 of the Code limitation generated by the ownership changes. Any future ownership changes may cause the Company’s existing tax attributes to have additional limitations.

All tax years are open for examination by the taxing authorities for both federal and state purposes.

A reconciliation of the federal statutory tax rate of 34% to the Company’s effective income tax rates are as follows:


	Years ended December 31,
	2015			2014
Statutory tax rate		34.00	%		34.00	%
State taxes, net of federal benefits		5.22	%		5.82	%
Mark to market items		0.00	%		15.26	%
Federal research and development credits		1.92	%		3.07	%
Change in valuation allowance		(40.10	)%		(53.76	)%
Other		(1.04	)%		(4.39	)%

Effective tax rate		0.00	%		0.00	%

The Company accounts for uncertain tax positions pursuant to ASC 740 which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes. Management is not aware of any uncertain tax positions.

Stock Incentive Plan

12 Months Ended

Dec. 31, 2015

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

Stock Incentive Plan

10.

STOCK INCENTIVE PLAN

The Company has three incentive plans. One was adopted in 2004 (2004 Plan) and provided for the granting of stock options and restricted stock awards and generally prescribed a contractual term of seven years. The 2004 Plan terminated in August 2010. However, grants made under the 2004 Plan are still governed by that plan. As of December 31, 2015, options to purchase 23,954 shares of common stock at a weighted average exercise price of $3.24 per share remained outstanding under the 2004 Plan.

The Company approved the 2010 Employee, Director and Consultant Equity Incentive Plan (2010 Plan) in September 2010 to replace the 2004 Plan. The 2010 Plan provided for the granting of stock options and restricted stock awards. The 2010 Plan terminated upon the Initial Public Offering. As of December 31, 2014, there were no shares available for issuance under the 2010 Plan. However, grants made under the 2010 Plan are still governed by that plan. As of December 31, 2015, options to purchase 585,888 shares of common stock at a weighted average exercise price of $1.41 per share remained outstanding under the 2010 Plan.

The Company approved the 2013 Equity Incentive Plan (2013 Plan) in October 2013. The 2013 Plan became effective immediately on adoption although no awards were to be made under it until the effective date of the Registration Statement for the Initial Public Offering. The 2013 Plan provides for the granting of stock options, restricted stock, stock appreciation rights, stock units, and performance cash awards to certain employees, members of the board of directors and consultants of the Company. As of December 31, 2014, the number of shares of common stock authorized for issuance in connection with the 2013 Plan was 625,000. On January 1 of each year the aggregate number of common shares that may be issued under the Plan shall automatically increase by a number equal to the least of (a) 4% of the total number of common shares outstanding on the last calendar day of the prior fiscal year, (b) subject to adjustment for certain corporate transactions, 333,333 common shares, or (c) a number of common shares determined by the Company’s board of directors. As of January 1, 2016, the number of shares of common stock that may be issued under the 2013 Plan was automatically increased by 333,333, shares, increasing the number of shares of common stock available for issuance under the 2013 Plan to 1,180,950 shares. As of December 31, 2015, options to purchase 467,488 shares of common stock at a weighted average exercise price of $7.25 per share remained outstanding under the 2013 Plan.

Terms of stock award agreements, including vesting requirements, are determined by the board of directors, subject to the provisions of the respective plan they were granted. Options granted by the Company typically vest over a four year period. Certain of the options are subject to acceleration of vesting in the event of certain change of control transactions. The options may be granted for a term of up to ten years from the date of grant. The exercise price for options granted under the 2013 Plan must be at a price no less than 100% of the fair market value of a common share on the date of grant.

The following table summarizes option activity under the incentive plans for the years ended December 31, 2015 and 2014:


	Number of Shares		Weighted Average Exercise Price		Weighted Average Contractual Term		Aggregate Intrinsic Value^(a)
Outstanding at December 31, 2013		609,842	$	1.48
Granted		264,190	$	6.84

Outstanding at December 31, 2014		874,032	$	3.10
Granted		203,298	$	7.78

Outstanding at December 31, 2015		1,077,330	$	3.98		8.06	$	3,405,821

Exercisable at December 31, 2015		578,384	$	4.43		7.61	$	2,562,619

Exercisable at December 31, 2014		134,294

(a) The aggregate intrinsic value in this table was calculated on the positive difference, if any, between the closing market value of our common stock on December 31, 2015 of ($6.78) and the price of the underlying options.

Options granted for the year ended December 31, 2013 include two grants of options exercisable for a total of 32,014 common shares for which vesting is contingent on certain performance and market-based conditions. For options granted containing performance conditions, the fair value is determined on the date of grant. For the year ended December 31, 2014, there was $340,000 expense recorded relating to the options as the performance conditions were satisfied in May 2014 and the shares vested.

The Company records stock-based compensation related to stock options granted at fair value. During the years ended December 31, 2015 and 2014, the Company used the Black-Scholes option-pricing model to estimate the fair value of stock option grants and to determine the related compensation expense. The assumptions used in calculating the fair value of stock-based payment awards represent management’s best estimates. The weighted-average fair value of options granted was $5.75 and $5.09 for the years ended December 31, 2015 and 2014, respectively. The assumptions used in determining fair value of the employee stock options for the years ended December 2015 and 2014, are as follows:


	December 31, 2015			December 31, 2014
Expected dividend yield		0	%		0	%
Anticipated volatility		88.57	%		88.57	%
Estimated stock price		$7.19 - $8.37			$4.99 - $8.00
Exercise price		$7.19 - $8.37			$4.99 - $8.00
Expected life (years)		5.50 - 6.25			6.00 - 6.25
Risk free interest rate		0.27% - 1.91	%		1.92% - 2.03	%

The dividend yield of zero is based on the fact that we have never paid cash dividends and have no present intention to pay cash dividends. Expected volatility is based on the historical volatility of a group of similar companies that are publicly traded since we don’t have sufficient historical or implied data of our own. We have estimated the expected life of our employee stock options using the “simplified” method, whereby, the expected life equals the average of the vesting term and the original contractual term of the option for service-based awards since we don’t have sufficient historical or implied data of our own. The risk-free interest rates for periods within the expected life of the option are based on the yields of zero-coupon United States Treasury securities.

We recognize stock-based compensation expense over the requisite service period. Our share-based awards are accounted for as equity instruments. The amounts included in the consolidated statements of operations relating to stock-based compensation are as follows:


	Year ended December 31,
	2015		2014
Research and development expenses	$	841,289	$	647,150
General and administrative expenses		1,345,813		1,389,923

Total stock-based compensation expense	$	2,187,102	$	2,037,073

At December 31, 2015, there is approximately $3.5 million of unrecognized compensation cost relating to stock options outstanding, which the Company expects to recognize over a weighted average period 2.1 years. Total unrecognized compensation cost will be adjusted for future forfeitures, if necessary.

Redeemable Convertible Preferred Stock

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Redeemable Convertible Preferred Stock

11.

REDEEMABLE CONVERTIBLE PREFERRED STOCK

Series A Preferred Stock

In June 2008, the Company authorized a total of 13,764,706 shares of Series A redeemable, convertible preferred stock (“Series A Preferred Stock”) of which 490,197 shares were issued for $12.24 per share resulting in gross proceeds of $6.0 million and 241,883 shares were issued in connection with the conversion of $2.8 million of bridge notes and related $201,000 of accrued interest.

Series B Preferred Stock

In December 2012, the Company authorized a total of 36,205,634 shares of Series B redeemable, convertible preferred stock (“Series B Preferred Stock”) of which 387,499 shares were issued for $5.16 per share resulting in gross proceeds of $2.0 million and 541,496 shares were issued in connection with the conversion of $2.2 million of convertible notes and related $593,000 of accrued interest.

On May 7, 2014, the Company closed its Initial Public Offering, in which 1,500,000 shares of common stock were sold at a price to the public of $8.00 per share for an aggregate offering price of $12.0 million. The offer and sale of all of the shares in the Initial Public Offering were registered under the Securities Act of the 1933, as amended, pursuant to a registration statement on Form S-1 (File No. 333-193204), which was declared effective by the SEC on May 1, 2014. The Company raised approximately $10.0 million in net proceeds after deducting underwriting discounts and commissions of $0.8 million, $1.0 million in prepaid offering and printing costs and other offering costs of $0.2 million.

In connection with the Initial Public Offering, holders of at least 67% of the respective outstanding Series A and Series B Preferred Stock (Series A and Series B voting as separate single classes) elected to automatically convert the Series A Preferred Stock and Series B Preferred Stock into 3,642,799 shares of common stock. The remaining unamortized discount was considered a deemed dividend of $4.1 million for the year ended December 31, 2014.

Stock Purchase Warrants

12 Months Ended

Dec. 31, 2015

Text Block [Abstract]

Stock Purchase Warrants

12.

STOCK PURCHASE WARRANTS

On January 14, 2015, the Company sold, in a private placement, an aggregate of approximately 1.1 million shares of common stock at a price of $7.00 per share. Investors received warrants to purchase up to approximately 1.1 million shares of common stock at an exercise price of $9.50. The Company raised approximately $7.1 million in net proceeds in the private placement of common stock and warrants. Additionally, on January 21, 2015, in a subsequent private placement, the Company sold an aggregate of 211,528 shares of common stock at a price of $9.33 per share and a warrant to purchase up to 211,528 shares of common stock at a price of $0.125 per share subject to the warrant. The Company raised approximately $1.9 million in net proceeds in the private placement of common stock and a warrant to purchase common stock. In both transactions, the exercise price of the warrants is $9.50 per share. The warrants will expire 3 years from their respective date of issuance. The warrants do not include a net-exercise feature. The warrants may be redeemed by the Company at a price of $0.001 per share upon notice to the holders thereof in the event that the closing bid for Aldeyra’s common stock for each of the fifteen consecutive trading days prior to such redemption is at least $20.00 per share and the average trading volume of Aldeyra’s common stock during such period is at least 50,000 shares per day. Following Aldeyra’s notification to the warrant holders of its exercise of the redemption right under the warrants, the warrant holders will have the option to exercise the warrants prior to the redemption date rather than having them redeemed.

In connection with the Initial Public Offering, the Company issued the underwriters of the offering warrants to purchase up to 60,000 shares of common stock. The warrants are exercisable beginning on May 1, 2015 for cash or on a cashless basis at a per share price of $10.00. The warrants will expire on May 1, 2019.

All of the warrants above were outstanding at December 31, 2015.

Related Party Transactions

12 Months Ended

Dec. 31, 2015

Related Party Transactions

13.

RELATED PARTY TRANSACTIONS

Convertible Promissory Note – In October 2013, the Company issued a convertible promissory note to Domain Partners VI, L.P., in a principal amount of $170,000, which was amended in February 2014 to extend its maturity date.

The note accrued interest at a rate of 6% per annum, and would have become due and payable in June 2014 unless it converted into shares of the Company’s capital stock prior to such time pursuant to its terms.

Upon the Company’s Initial Public Offering in May 2014, the note automatically converted into 21,250 shares of the Company’s common stock.

- 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

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

14.

COMMITMENTS AND CONTINGENCIES

Guarantees and Indemnifications – As permitted under Delaware law, the Company indemnifies its officers and directors for certain events or occurrences while the officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification is for the officer’s or director’s lifetime. Through December 31, 2015, the Company had not experienced any losses related to these indemnification obligations and no material claims were outstanding. The Company does not expect significant claims related to these indemnification obligations, and consequently, concluded that the fair value of these obligations is negligible, and no related reserves were established.

Other Contractual Arrangements – In February 2010, the Company entered into a license and supply agreement providing the Company with an exclusive license to certain technology and access to purchase materials at certain costs. Under the terms of the license and supply agreement, the Company is obligated to make milestone payments up to an aggregate of $2.15 million upon reaching certain development and regulatory milestones in the development of the Company’s product. Upon commercialization of the Company’s product containing the licensed technology, the Company would be obligated to pay royalties based on net sales subject to an annual cap. The license and supply agreement runs through the 7th anniversary of the expiration of all patents licensed under the agreement, which the Company estimates to be April 2036, unless terminated earlier. As of December 31, 2015, no milestones under the agreement had been met.

During the year ended December 31, 2014, the Company entered into a lease agreement for a certain commercial office space. The thirty-seven month lease which began on or about September 12, 2014, provides the Company with approximately 3,700 square feet of space in Lexington, Massachusetts. Base annual rent is initially set at $5,604 per month. Total base rent payable over the lease period is approximately $205,000. The following table outlines the Company’s gross future minimum payments under all non-cancelable operating leases as of December 31, 2015.


	Total		2016		2017		2018
Operating lease obligations	$	126,412	$	69,427	$	56,985	$	—

Basis of Presentation (Policies)	12 Months Ended
Basis of Presentation (Policies)	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Management's Plans	*Basis of Presentation and Management’s Plans* – The accompanying financial statements were prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP).
Liquidity and Management's Plans	*Liquidity and Management’s Plans* – At December 31, 2015, the Company had an accumulated deficit of approximately $58.6 million and cash and cash equivalents and marketable securities of approximately $27.6 million. On May 7, 2014, the Company closed its Initial Public Offering, in which 1,500,000 shares of common stock were sold at a price to the public of $8.00 per share for an aggregate offering price of $12.0 million. The offer and sale of all of the shares in the Initial Public Offering were registered under the Securities Act of the 1933, as amended, pursuant to a registration statement on Form S-1 (File No. 333-193204), which was declared effective by the SEC on May 1, 2014. The Company raised approximately $10.0 million in net proceeds after deducting underwriting discounts and commissions of $0.8 million, $1.0 million in prepaid offering and printing costs and other offering costs of $0.2 million. On January 15, 2015, the Company sold, in a private placement, an aggregate of approximately 1.1 million shares of common stock at a price of $7.00 per share. Investors received warrants to purchase up to approximately 1.1 million shares of common stock at an exercise price of $9.50. The warrants will expire 3 years from the date of issuance. The warrants do not include a net-exercise feature. The warrants may be redeemed by the Company at a price of $0.001 per share upon notice to the holders in the event that the closing bid for Aldeyra’s common stock for each of the fifteen consecutive trading days prior to such redemption is at least $20.00 per share and the average trading volume of Aldeyra’s common stock during such period is 50,000 shares per day. Following Aldeyra’s notification to the warrant holders of its exercise of the redemption right under the warrants, each warrant holder will have the option to exercise their warrants prior to the redemption date rather than having them redeemed. The Company raised approximately $7.1 million in net proceeds in the private placement of common stock and warrants. On January 22, 2015, in a subsequent private placement, the Company sold an aggregate of 211,528 shares of common stock at a price of $9.33 per share and a warrant to purchase up to 211,528 shares of common stock at a price of $0.125 per share subject to the warrant. The exercise price of the warrant is $9.50 per share. The warrant will expire 3 years from the date of issuance. The warrant does not include a net-exercise feature. The warrant may be redeemed by the Company at a price of $0.001 per share upon notice to the holder thereof in the event that the closing bid for Aldeyra’s common stock for each of the fifteen consecutive trading days prior to such redemption is at least $20.00 per share and the average trading volume of Aldeyra’s common stock during such period is 50,000 shares per day. Following Aldeyra’s notification to the warrant holder of its exercise of the redemption right under the warrant, the warrant holder will have the option to exercise the warrant prior to the redemption date rather than having it redeemed. The Company raised approximately $1.9 million in net proceeds in the private placement of common stock and a warrant to purchase common stock. On May 22, 2015, the Company raised approximately $19.5 million, after deducting underwriting discounts and commissions and other offering expenses, through the issuance and sale of 2,822,500 shares of common stock in a follow-on public offering, including shares sold pursuant to the underwriters exercise of their option to purchase additional shares of common stock. In addition, as discussed in Note 8, in November 2015, the Company amended its credit facility (the Credit Facility) with Pacific Western Bank (Pacific Western). Pacific Western agreed to make term loans in a principal amount of up to $5.0 million available to the Company with proceeds to be used first to refinance outstanding loans from Pacific Western, second to fund expenses related to the Company’s clinical trials, and the remainder for general working capital purposes. The term loans are to be made available to the Company upon the following terms: (i) $2.0 million was made available on November 10, 2014; and (ii) $3.0 million (the Tranche B Loan) is to be made available to the Company following the satisfaction of certain conditions, including receipt of positive phase 2 data in either SLS or noninfectious anterior uveitis. Each term loan accrues interest from its date of issue at a variable annual interest rate equal to the greater of 2.0% plus prime or 5.25% per annum. Any term loan made is payable as interest-only prior to November 2016 and thereafter is payable in monthly installments of principal plus accrued interest over 36 months. The Credit Facility is collateralized by the Company’s assets, including its intellectual property. The Company’s management believes that its currently available resources, including amounts available under the Credit Facility, will provide sufficient funds to enable the Company to meet its obligations through at least the end of 2017. The Company will need to raise additional capital to implement its near-term business plan. Additional funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to secure additional capital, or meet financial covenants that could be implemented under the Company’s term loans in certain circumstances, it will be required to significantly decrease the amount of planned expenditures, and may be required to cease operations. Curtailment of operations would cause significant delays in the Company’s efforts to introduce its products to market, which is critical to the realization of its business plan and the future operations of the Company.
Use of Estimates	*Use of Estimates* – The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company evaluates its estimates and assumptions on an ongoing basis. The most significant estimates in the Company’s financial statements relate to accruals, including research and development costs, accounting for income taxes and the related valuation allowance, estimating the fair value of the Company’s common and preferred stock, preferred stock warrants, purchase rights and warrant purchase rights, and accounting for stock based compensation and the related fair value. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.
Segment Information	*Segment Information* – Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one segment, which is the identification and development of a treatment for diseases related to high levels of aldehydes.
Cash and Cash Equivalents	*Cash and Cash Equivalents* – The Company classifies all highly liquid investments with original maturities of three months or less as cash equivalents and all highly liquid investments with original maturities of greater than three months as current marketable securities. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating. The Company invests its cash primarily in reverse repurchase agreements (RRAs), government securities and obligations, and money market funds. RRAs are collateralized by deposits in the form of ‘Government Securities and Obligations’ for an amount not less than 102% of their value. The Company does not record an asset or liability related to the collateral as the Company is not permitted to sell or repledge the associated collateral. The Company has a policy that the collateral has at least an A (or equivalent) credit rating. The Company utilizes a third party custodian to manage the exchange of funds and ensure that collateral received is maintained at 102% of the value of the RRAs on a daily basis. RRAs with original maturities of greater than three months are classified as marketable securities.
Marketable Securities	*Marketable Securities* – Marketable securities consist of government securities and obligations with original maturities of more than 90 days. Investments are classified as available-for-sale and are recorded on the balance sheet at fair value with unrealized gains or losses reported as a separate component of other comprehensive loss. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination at each balance sheet date.
Fair Value of Financial Instruments	*Fair Value of Financial Instruments* – Financial instruments including cash equivalents and accounts payable are carried in the financial statements at amounts that approximate their fair value based on the short maturities of those instruments. The carrying amount of the Company’s term loans under its credit facility approximates market rates currently available to the Company. Marketable securities are carried at fair value and are more fully described in Note 5.
Concentration of Credit Risk	*Concentration of Credit Risk* – Financial instruments that potentially subject us to significant concentrations of credit risk principally consist of cash, cash equivalents and marketable securities. We place our cash and cash equivalents and marketable securities with financial institutions with high credit ratings. As part of our cash and investment management processes, we perform periodic evaluations of the credit standing of the financial institutions with whom we maintain deposits, and have not recorded any credit losses to-date.
Intellectual Property	*Intellectual Property* – The legal and professional costs incurred by the Company to acquire its patent rights are expensed as incurred and included in operating expenses. At December 31, 2015 and 2014, the Company has determined that these expenses have not met the criteria to be capitalized. Intellectual property related expenses for the years ended December 31, 2015 and 2014 were $473,878 and $184,517, respectively.
Income Taxes	*Income Taxes* – The Company follows the provisions of FASB ASC 740, Income Taxes, in reporting deferred income taxes. ASC 740 requires a company to recognize deferred tax liabilities and assets for expected future income tax consequences of events that have been recognized in the Company’s financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in the years in which the temporary differences are expected to reverse. Valuation allowances are provided if based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions pursuant to ASC 740 which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes. Management is not aware of any uncertain tax positions.
Research and Development Costs	*Research and Development Costs* – Research and development costs are charged to expense as incurred. Research and development expenses include consulting expenses, preclinical studies, clinical trials, clinical trial materials, regulatory and clinical consultants, lab supplies, lab services, lab equipment maintenance and small equipment purchased to support the research laboratory. Research and development costs that are paid in advance of performance are capitalized as a prepaid expense until incurred.
Stock-Based Compensation	*Stock-Based Compensation* – Stock-based payments are accounted for in accordance with the provisions of ASC 718, Compensation – Stock Compensation. For options, the fair value of stock-based payments is estimated, on the date of grant, using the Black-Scholes option pricing model. For restricted stock, fair value is based on the fair value of the stock on the date of grant. The resulting fair value for restricted stock and options expected to vest is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the applicable restricted stock or option. Equity instruments issued to nonemployees are accounted for under the provisions of ASC 718 and ASC 505-50, Equity – Equity-Based Payments to Non-Employees. Accordingly, the estimated fair value of the equity instrument is recorded on the earlier of the performance commitment date or the date the services are completed and are marked to market through the date of vesting. From time to time the Company may grant awards with performance conditions necessary to be achieved in order to vest in the award. The Company records compensation expense for those awards over the vesting period of the award to the extent the performance conditions are deemed probable of achievement. From time to time the Company may grant awards with a market condition necessary to be achieved in order to vest in the award. The Company records compensation expense for those awards over the vesting period of the award on a straight-line basis utilizing Monte Carlo simulations to estimate the timing and number of shares that are most likely to vest.
Comprehensive Loss	*Comprehensive Loss* – Comprehensive loss is defined as the change in equity during a period from transactions and other events and/or circumstances from non-owner sources. For December 31, 2015, comprehensive loss is equal to the Company’s net loss of $12.1 million and an unrealized loss on marketable securities of $8,000. For December 31, 2014, comprehensive loss is equal to net loss of $5.2 million.
Net Loss Applicable to Common Stock	*Net Loss Applicable to Common Stock* – The Company computes net loss per share in accordance with the two-class method. Under the two-class method, net income is allocated between common stock and other participating securities based on their participation rights. The Company has determined that their outstanding Series A and Series B Preferred Stock represents a participating security and as such the preferred shares are excluded from basic earnings per share. Net losses are not allocated to the preferred stockholders for computing net loss per share under the two-class method because preferred stockholders do not have contractual obligations to share in the losses of the Company. Basic earnings per share is calculated by dividing income allocable to common stockholders (after reduction for preferred stock dividends assuming current income for the period had been distributed) by the weighted average number of common stock outstanding. Diluted net loss per share is computed using the more dilutive of (a) the two-class method, or (b) the if-converted method or treasury stock method, as applicable, to the potentially dilutive instruments. The Company allocates net income first to preferred stockholders based on dividend rights and then to common and preferred stockholders based on ownership interests. The weighted-average number of common shares outstanding gives effect to all potentially dilutive common equivalent shares, including outstanding stock options and restricted stock, warrants, rights to purchase additional shares of preferred stock, rights for warrants to purchase preferred stock and convertible debt.
Recently Issued Accounting Standards	*Recent Accounting Pronouncements* – In November 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-17 “Income Taxes: Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). To simplify the presentation of deferred income taxes, the amendments in this update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This update is required to be effective for all public Companies for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted. We do not believe that ASU 2015-17 will have a material impact on our financial statements. In February of 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). Under ASU 2016-2, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company is in the process of evaluating the future impact of ASU 2016-02 on its financial position, results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). The amendments in ASU 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for the Company in the first quarter of fiscal year 2017, with early adoption permitted. ASU 2015-03 should be applied on a retrospective basis to each individual period presented. Upon implementation, the change in reporting debt issuance costs will require the Company to reclassify any deferred financing costs from an asset to a reduction of the reported debt balance. The application of ASU 2015-03 is not expected to have a material impact on the presentation of the Company’s financial position. 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”), to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. The Company early adopted ASU 2014-15 in the year ended December 31, 2015, and it did not have an impact on the Company’s financial statements.

Net Loss Attributable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders

The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company:


	Years ended December 31,
	2015			2014
Numerator:
Basic
Net loss	$	(12,090,287	)	$	(5,187,259	)
Accretion of preferred stock		—			(333,082	)
Deemed dividend		—			(4,053,570	)

Net loss attributable to common stockholders – basic	$	(12,090,287	)	$	(9,573,911	)

Diluted
Net loss attributable to common stockholders – basic		(12,090,287	)		(9,573,911	)
Less: change in fair value of derivative liabilities		—			(2,327,502	)

Net loss available to common stockholders – diluted	$	(12,090,287	)	$	(11,901,413	)

Denominator:
Basic
Weighted-average number of common shares – basic		8,633,897			3,818,157

Diluted
Weighted-average number of common shares – basic		8,633,897			3,818,157
Warrants (treasury stock)		—			32,455

Total weighted average number of common shares – diluted		8,633,897			3,850,612

Net loss per share:
Basic	$	(1.40	)	$	(2.51	)

Diluted	$	(1.40	)	$	(3.09	)

Computation of Diluted Weighted-Average Shares Outstanding


	Years ended December 31,
	2015		2014
Options to purchase common stock		1,077,330		874,032
Warrants to purchase common stock		1,384,608		60,000

Total of common stock equivalents		2,461,938		934,032

Cash, Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2015

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents and Marketable Securities

At December 31, 2015, cash, cash equivalents and marketable securities were comprised of:


	Carrying Amount		Unrecognized Gain		Unrecognized Loss			Estimated Fair Value		Cash Equivalents		Current Marketable Securities
Cash	$	1,662,980	$	—	$	—		$	1,662,980	$	1,662,980	$	—
Money market funds		35,886		—		—			35,886		35,886		—

	Carrying Amount		Unrealized Gain		Unrealized Loss			Estimated Fair Value
U.S. Reverse repurchase agreements		12,950,000		—		—			12,950,000		12,950,000		—
Government securities		12,950,137		—		(8,361	)		12,941,776		—		12,941,776
Available for Sale(1)		25,900,137		—		(8,361	)		25,891,776		12,950,000		12,941,776

										$	14,648,866	$	12,941,776

Total Cash, cash equivalents and current marketable securities

⁽¹⁾	Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis


	December 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	35,886	$	—	$	—	$	35,886
Repurchase agreements		—		12,950,000		—		12,950,000
U.S. government agency securities		—		12,941,776		—		12,941,776

Total assets at fair value	$	35,886	$	25,891,776	$	—	$	25,927,662

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2015

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses at December 31, 2015 and 2014 were:


	2015		2014
Accrued compensation	$	394,773	$	444,786
Accrued research and development		550,323		313,642
Accrued general & administrative		192,676		101,457
Accrued other		48,657		48,839

Accrued expenses	$	1,186,429	$	908,724

Credit Facility (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Future Maturities of Existing Term Loans

Future maturities of the existing term loans under the Credit Facility as of December 31, 2015 are as follows:


2016	$	77,546
2017		465,278
2018		465,278
2019		387,731

Total	$	1,395,833

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at December 31, 2015 and 2014 are as follows:


	12/31/2015			12/31/2014
Deferred Tax Assets
Federal & State NOL carryforward	$	10,115,458		$	6,210,836
Federal & State R&D credit carryforward		667,688			421,828
Intangibles – net		932,060			1,163,905
Accounts payable and accrued expenses		591,843			402,062
Stock options		2,152,854			1,432,312
Fixed Assets		213			—

Gross deferred tax assets		14,460,116			9,630,943
Valuation Allowance – US		(14,418,095	)		(9,574,752	)

Net Deferred Tax Assets		42,021			56,191
Deferred Tax Liabilities
Note Discounts		(42,021	)		(56,094	)
Fixed Assets		—			(97	)

Gross deferred tax liabilities		(42,021	)		(56,191	)

TOTAL	$	—		$	—

Summary of Statutory Tax Rates and Effective Tax Rates

A reconciliation of the federal statutory tax rate of 34% to the Company’s effective income tax rates are as follows:


	Years ended December 31,
	2015			2014
Statutory tax rate		34.00	%		34.00	%
State taxes, net of federal benefits		5.22	%		5.82	%
Mark to market items		0.00	%		15.26	%
Federal research and development credits		1.92	%		3.07	%
Change in valuation allowance		(40.10	)%		(53.76	)%
Other		(1.04	)%		(4.39	)%

Effective tax rate		0.00	%		0.00	%

Stock Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Stock Option Activity

The following table summarizes option activity under the incentive plans for the years ended December 31, 2015 and 2014:


	Number of Shares		Weighted Average Exercise Price		Weighted Average Contractual Term		Aggregate Intrinsic Value^(a)
Outstanding at December 31, 2013		609,842	$	1.48
Granted		264,190	$	6.84

Outstanding at December 31, 2014		874,032	$	3.10
Granted		203,298	$	7.78

Outstanding at December 31, 2015		1,077,330	$	3.98		8.06	$	3,405,821

Exercisable at December 31, 2015		578,384	$	4.43		7.61	$	2,562,619

Exercisable at December 31, 2014		134,294

Schedule of Stock-Based Compensation Expense


	Year ended December 31,
	2015		2014
Research and development expenses	$	841,289	$	647,150
General and administrative expenses		1,345,813		1,389,923

Total stock-based compensation expense	$	2,187,102	$	2,037,073

Employee Stock Options [Member]

Schedule of Fair Value of Stock Option Assumptions

The assumptions used in determining fair value of the employee stock options for the years ended December 2015 and 2014, are as follows:


	December 31, 2015			December 31, 2014
Expected dividend yield		0	%		0	%
Anticipated volatility		88.57	%		88.57	%
Estimated stock price		$7.19 - $8.37			$4.99 - $8.00
Exercise price		$7.19 - $8.37			$4.99 - $8.00
Expected life (years)		5.50 - 6.25			6.00 - 6.25
Risk free interest rate		0.27% - 1.91	%		1.92% - 2.03	%

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Payments Under Non-Cancelable Operating Leases

The following table outlines the Company’s gross future minimum payments under all non-cancelable operating leases as of December 31, 2015.


	Total		2016		2017		2018
Operating lease obligations	$	126,412	$	69,427	$	56,985	$	—

Basis of Presentation - Additional Information (Detail)						1 Months Ended	12 Months Ended
Basis of Presentation - Additional Information (Detail)	May. 22, 2015 USD ($) shares	Jan. 22, 2015 USD ($) $ / shares shares	Jan. 21, 2015 USD ($) $ / shares shares	Jan. 15, 2015 USD ($) $ / shares shares	Jan. 14, 2015 USD ($) $ / shares shares	Nov. 30, 2015	Dec. 31, 2015 USD ($) Segment $ / shares	Dec. 31, 2014 USD ($)	May. 07, 2014 USD ($) $ / shares shares
Class of Stock [Line Items]
Accumulated deficit							$ (58,601,884)	$ (46,511,597)
Cash, cash equivalents and marketable securities							$ 27,600,000
Initial public offering completion date							May 07, 2014
Common stock issued price per share \| $ / shares		$ 9.33	$ 9.33	$ 7.00	$ 7.00
Proceeds from initial public offering net of underwriting discounts, commissions and offering costs							$ 10,000,000
Underwriting discounts and commissions							800,000
Prepaid offering and printing costs							1,000,000
Offering costs							$ 200,000
Common stock shares sold \| shares	2,822,500	211,528	211,528	1,100,000	1,100,000
Warrants redeemable into common shares \| shares		211,528	211,528	1,100,000	1,100,000
Exercise price of warrants \| $ / shares		$ 9.50	$ 9.50	$ 9.50	$ 9.50
Warrants expiration date		3 years	3 years	3 years
Warrants redemption price \| $ / shares		$ 0.001	$ 0.001	$ 0.001
Share price of common stock \| $ / shares		$ 20.00	$ 20.00	$ 20.00			$ 6.78
Trading volume of common stock \| shares		50,000	50,000	50,000
Private placement of common stock and warrants raised		$ 1,900,000	$ 1,900,000	$ 7,100,000	$ 7,100,000
Warrant to purchase Common stock exercise price \| $ / shares		$ 0.125	$ 0.125
Proceeds from initial public offering net of underwriting discounts, commissions and offering costs	$ 19,500,000
Proceeds from credit facility								1,395,833
Debt instrument annual interest rate						6.50%
Number of segment \| Segment							1
Investment maturity period							Three months or less
Marketable securities maturity period							90 days
Net loss							$ (12,090,287)	(5,187,259)
Unrealized loss on marketable securities							$ (8,361)
Minimum [Member]
Class of Stock [Line Items]
Percentage of investment in the form of government securities and obligations							102.00%
Maximum [Member]
Class of Stock [Line Items]
Minimum maturity period							90 days
Initial Public Offering [Member]
Class of Stock [Line Items]
Common stock issued in initial public offering \| shares									1,500,000
Common stock issued price per share \| $ / shares									$ 8.00
Aggregate offering price									$ 12,000,000
Intellectual Property [Member]
Class of Stock [Line Items]
Intellectual property related expenses							$ 473,878	$ 184,517
Pacific Western Bank [Member]
Class of Stock [Line Items]
Proceeds from credit facility							$ 2,000,000
Debt instrument annual interest rate							5.25%
Loan repayment period							36 months
Pacific Western Bank [Member] \| Term Loan [Member]
Class of Stock [Line Items]
Credit facility amount							$ 5,000,000
Pacific Western Bank [Member] \| Tranche B Loans [Member]
Class of Stock [Line Items]
Proceeds from credit facility							$ 3,000,000
Pacific Western Bank [Member] \| Prime Rate [Member] \| Term Loan [Member]
Class of Stock [Line Items]
Debt instrument variable annual interest rate							2.00%

Net Loss Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Basic
Net loss	$ (12,090,287)	$ (5,187,259)
Accretion of preferred stock		(333,082)
Deemed dividend		(4,053,570)
Net loss attributable to common stockholders - basic	(12,090,287)	(9,573,911)
Diluted
Net loss attributable to common stockholders - basic	(12,090,287)	(9,573,911)
Less: change in fair value of derivative liabilities		(2,327,502)
Net loss available to common stockholders - diluted	$ (12,090,287)	$ (11,901,413)
Basic
Weighted-average number of common shares - basic	8,633,897	3,818,157
Diluted
Weighted-average number of common shares - basic	8,633,897	3,818,157
Warrants (treasury stock)		32,455
Total weighted average number of common shares - diluted	8,633,897	3,850,612
Net loss per share:
Basic	$ (1.40)	$ (2.51)
Diluted	$ (1.40)	$ (3.09)

Net Loss Attributable to Common Stockholders - Computation of Diluted Weighted-Average Shares Outstanding (Detail) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents	2,461,938	934,032
Employee Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents	1,077,330	874,032
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents	1,384,608	60,000

Cash, Cash Equivalents and Marketable Securities - Schedule of Cash, Cash Equivalents and Marketable Securities (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Cash Equivalents And Marketable Securities [Line Items]
Cash	$ 1,662,890
Money market funds	35,886
U.S. Reverse repurchase agreements	12,950,000
Government securities	12,950,137
Available for Sale	25,900,137
Unrecognized Gain	0
Cash Equivalents	14,648,866	$ 8,527,304	$ 3,262,354
Current Marketable Securities	12,941,776
Available for Sale [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain	0
Unrecognized Loss	(8,361)
Estimated Fair Value	25,891,776
Cash Equivalents	12,950,000
Current Marketable Securities	12,941,776
Cash [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain	0
Estimated Fair Value	1,662,980
Cash Equivalents	1,662,980
Money Market Funds [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain	0
Estimated Fair Value	35,886
Cash Equivalents	35,886
U.S. Reverse Repurchase Agreements [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain	0
Estimated Fair Value	12,950,000
Cash Equivalents	12,950,000
US Government Agencies Securities [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain	0
Unrecognized Loss	(8,361)
Estimated Fair Value	12,941,776
Current Marketable Securities	$ 12,941,776

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets:
Total assets at fair value	$ 25,927,662	$ 0
Total assets at fair value	25,927,662	$ 0
Money Market Funds [Member]
Assets:
Total assets at fair value	35,886
Total assets at fair value	35,886
Repurchase Agreements [Member]
Assets:
Total assets at fair value	12,950,000
Total assets at fair value	12,950,000
US Government Agencies Securities [Member]
Assets:
Total assets at fair value	12,941,776
Total assets at fair value	12,941,776
Level 1 [Member]
Assets:
Total assets at fair value	35,886
Total assets at fair value	35,886
Level 1 [Member] \| Money Market Funds [Member]
Assets:
Total assets at fair value	35,886
Total assets at fair value	35,886
Level 2 [Member]
Assets:
Total assets at fair value	25,891,776
Total assets at fair value	25,891,776
Level 2 [Member] \| Repurchase Agreements [Member]
Assets:
Total assets at fair value	12,950,000
Total assets at fair value	12,950,000
Level 2 [Member] \| US Government Agencies Securities [Member]
Assets:
Total assets at fair value	12,941,776
Total assets at fair value	$ 12,941,776

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accrued compensation	$ 394,773	$ 444,786
Accrued research and development	550,323	313,642
Accrued general & administrative	192,676	101,457
Accrued other	48,657	48,839
Accrued expenses	$ 1,186,429	$ 908,724

Convertible Notes Payable - Related Parties - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2013	Dec. 31, 2015
Domain Partners VI LP [Member]
Short-term Debt [Line Items]
Due and payable date of convertible note	2014-06
Convertible Note Payable-Related Parties [Member]
Short-term Debt [Line Items]
Initial public offering		May 2014
Converted into common stock		21,250
Convertible Note Payable-Related Parties [Member] \| Domain Partners VI LP [Member]
Short-term Debt [Line Items]
Convertible promissory note	$ 170,000
Convertible note interest rate	6.00%
Convertible note maturity extended date	Feb. 28, 2014
Initial public offering		May 2014
Converted into common stock		21,250

Credit Facility - Additional Information (Detail) - USD ($)	1 Months Ended		12 Months Ended
	Nov. 30, 2015	Nov. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Jan. 22, 2015	Jan. 21, 2015	Jan. 15, 2015	Jan. 14, 2015	Apr. 12, 2012
Line of Credit Facility [Line Items]
Debt instrument annual interest rate	6.50%
Credit Facility, period of interest only payments			November 2013 through November 2014
Principal payments			$ 58,160
Maturity period of term loans			2016-11
Proceeds from credit facility				$ 1,395,833
Exercise price of warrants per share					$ 9.50	$ 9.50	$ 9.50	$ 9.50
Warrant value		$ 178,000
Warrant liability									$ (88,000)
Series B Preferred Stock [Member]
Line of Credit Facility [Line Items]
Warrant exercisable		9,692
Exercise price of warrants per share		$ 5.16
Warrant exercisable, term		7 years
Pacific Western Bank [Member]
Line of Credit Facility [Line Items]
Current borrowings capacity under credit facility		$ 1,500,000
Debt instrument annual interest rate			5.25%
Proceeds from credit facility			$ 2,000,000
Credit facility outstanding			$ 1,400,000	1,400,000
Debt instrument effective interest rate			7.89%
Loan repayment period			36 months
Term Loan [Member] \| Pacific Western Bank [Member]
Line of Credit Facility [Line Items]
Credit facility amount			$ 5,000,000
Term Loan [Member] \| Prime Rate [Member] \| Pacific Western Bank [Member]
Line of Credit Facility [Line Items]
Debt instrument variable annual interest rate			2.00%
Tranche B Loans [Member] \| Pacific Western Bank [Member]
Line of Credit Facility [Line Items]
Proceeds from credit facility			$ 3,000,000
Pacific Western Credit Facility [Member]
Line of Credit Facility [Line Items]
Net of debt discount amount			$ 107,000	$ 143,000

Credit Facility - Schedule of Future Maturities of Existing Term Loans (Detail)	Dec. 31, 2015 USD ($)
Line of Credit Facility [Abstract]
2016	$ 77,546
2017	465,278
2018	465,278
2019	387,731
Total	$ 1,395,833

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Contingency [Line Items]
Provision for income tax benefit	$ 0
Deferred tax assets valuation allowance	100.00%
Net operating loss carryforwards expire period	2035
Increasing in research activities expire period	2035
Change in valuation allowance	$ 4,800,000
Statutory tax rate	34.00%	34.00%
Federal [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 26,100,000
Increasing in research activities	623,000
State [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforwards	23,300,000
Increasing in research activities	$ 67,000

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax Assets
Federal & State NOL carryforward	$ 10,115,458	$ 6,210,836
Federal & State R&D credit carryforward	667,688	421,828
Intangibles - net	932,060	1,163,905
Accounts payable and accrued expenses	591,843	402,062
Stock options	2,152,854	1,432,312
Fixed Assets	213
Gross deferred tax assets	14,460,116	9,630,943
Valuation Allowance - US	(14,418,095)	(9,574,752)
Net Deferred Tax Assets	42,021	56,191
Deferred Tax Liabilities
Note Discounts	(42,021)	(56,094)
Fixed Assets		(97)
Gross deferred tax liabilities	(42,021)	(56,191)
TOTAL	$ 0	$ 0

Income Taxes - Summary of Statutory Tax Rates and Effective Tax Rates (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Statutory tax rate	34.00%	34.00%
State taxes, net of federal benefits	5.22%	5.82%
Mark to market items	0.00%	15.26%
Federal research and development credits	1.92%	3.07%
Change in valuation allowance	(40.10%)	(53.76%)
Other	(1.04%)	(4.39%)
Effective tax rate	0.00%	0.00%

Stock Incentive Plan - Additional Information (Detail)		12 Months Ended
Stock Incentive Plan - Additional Information (Detail)	Jan. 01, 2016 shares	Dec. 31, 2015 USD ($) Incentive_Plan $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of incentive plans \| Incentive_Plan		3
Options to purchase of shares of common stock		1,077,330	874,032	609,842
Exercise price per share of common stock \| $ / shares		$ 3.98	$ 3.10	$ 1.48
Fair value of a common stock percentage		100.00%
Options granted, vesting period		4 years
Options exercisable		578,384	134,294
Expense relating to options \| $			$ 340,000
Weighted average grant date fair value \| $ / shares		$ 5.75	$ 5.09
Unrecognized compensation cost \| $		$ 3,500,000
Weighted average period		2 years 1 month 6 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option granted in term years		10 years
2004 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock incentive plans, contractual term		Seven years
Stock incentive plan, termination date		2010-08
Options to purchase of shares of common stock		23,954
Exercise price per share of common stock \| $ / shares		$ 3.24
2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase of shares of common stock		585,888
Exercise price per share of common stock \| $ / shares		$ 1.41
Common stock available for issuance			0
2013 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase of shares of common stock		467,488
Exercise price per share of common stock \| $ / shares		$ 7.25
Issuance of common stock authorized			625,000
Percentage of increase in common shares outstanding		4.00%
Increase in common stock outstanding \| $		$ 333,333
2013 Plan [Member] \| Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for issuance	1,180,950
Common stock issued under 2013 plan	333,333
Two Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercisable				32,014

Stock Incentive Plan - Summary of Stock Option Activity (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract]
Number of Shares Outstanding, Beginning Balance	874,032	609,842
Number of Shares, Granted	203,298	264,190
Number of Shares Outstanding, Ending Balance	1,077,330	874,032
Number of Shares Exercisable, Ending Balance	578,384	134,294
Weighted Average Exercise Price, Beginning Balance	$ 3.10	$ 1.48
Weighted Average Exercise Price, Granted	7.78	6.84
Weighted Average Exercise Price, Ending Balance	3.98	$ 3.10
Weighted Average Exercise Price Exercisable, Ending Balance	$ 4.43
Weighted Average Contractual Term, Outstanding	8 years 22 days
Weighted Average Contractual Term, Exercisable	7 years 7 months 10 days
Aggregate Intrinsic Value, Outstanding	$ 3,405,821
Aggregate Intrinsic Value, Exercisable	$ 2,562,619

Stock Incentive Plan - Schedule of Fair Value of Stock Option Assumptions (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Jan. 22, 2015	Jan. 21, 2015	Jan. 15, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated stock price	$ 6.78		$ 20.00	$ 20.00	$ 20.00
Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Anticipated volatility	88.57%	88.57%
Employee Stock Options [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated stock price	$ 7.19	$ 4.99
Exercise price	$ 7.19	$ 4.99
Expected life (years)	5 years 6 months	6 years
Risk free interest rate	0.27%	1.92%
Employee Stock Options [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated stock price	$ 8.37	$ 8.00
Exercise price	$ 8.37	$ 8.00
Expected life (years)	6 years 3 months	6 years 3 months
Risk free interest rate	1.91%	2.03%

Stock Incentive Plan - Schedule of Stock-Based Compensation Expense (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 2,187,102	$ 2,037,073
Research and Development Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	841,289	647,150
General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 1,345,813	$ 1,389,923

Redeemable Convertible Preferred Stock - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2008	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2012	Jan. 22, 2015	Jan. 21, 2015	Jan. 15, 2015	Jan. 14, 2015	May. 07, 2014
Temporary Equity [Line Items]
Preferred Stock, shares authorized		15,000,000	15,000,000
Conversion of preferred stock into common stock			3,642,799
Initial public offering completion date		May 07, 2014
Common stock issued price per share					$ 9.33	$ 9.33	$ 7.00	$ 7.00
Proceeds from initial public offering net of underwriting discounts, commissions and offering costs		$ 10,000,000
Underwriting discounts and commissions		800,000
Prepaid offering and printing costs		1,000,000
Offering costs		$ 200,000
Voting rights interest		67.00%
Deemed dividend			$ 4,100,000
Initial Public Offering [Member]
Temporary Equity [Line Items]
Common stock issued in initial public offering									1,500,000
Common stock issued price per share									$ 8.00
Aggregate offering price									$ 12,000,000
Series A Preferred Stock [Member]
Temporary Equity [Line Items]
Preferred Stock, shares authorized	13,764,706
Conversion of preferred stock into common stock	490,197		(980,391)
Shares issued, per share price	$ 12.24
Gross proceeds from sale of shares	$ 6,000,000		$ 29,369,902
New shares issued	241,883
New shares issued, conversion amount	$ 2,800,000
Accrued interest	$ 201,000
Series B Preferred Stock [Member]
Temporary Equity [Line Items]
Preferred Stock, shares authorized				36,205,634
Conversion of preferred stock into common stock			(1,316,681)	387,499
Shares issued, per share price				$ 5.16
Gross proceeds from sale of shares			$ 9,280,478	$ 2,000,000
New shares issued				541,496
New shares issued, conversion amount				$ 2,200,000
Accrued interest				$ 593,000

Stock Purchase Warrants - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions						12 Months Ended
	May. 22, 2015	Jan. 22, 2015	Jan. 21, 2015	Jan. 15, 2015	Jan. 14, 2015	Dec. 31, 2015
Class of Warrant or Right [Line Items]
Common stock shares sold	2,822,500	211,528	211,528	1,100,000	1,100,000
Common stock issued price per share		$ 9.33	$ 9.33	$ 7.00	$ 7.00
Warrants redeemable into common shares		211,528	211,528	1,100,000	1,100,000
Exercise price of warrants		$ 9.50	$ 9.50	$ 9.50	$ 9.50
Private placement of common stock and warrants raised		$ 1.9	$ 1.9	$ 7.1	$ 7.1
Warrant to purchase Common stock exercise price		$ 0.125	$ 0.125
Warrants expiration date		3 years	3 years	3 years
Warrants redemption price		$ 0.001	$ 0.001	$ 0.001
Share price of common stock		$ 20.00	$ 20.00	$ 20.00		$ 6.78
Trading volume of common stock		50,000	50,000	50,000
Warrant [Member]
Class of Warrant or Right [Line Items]
Warrants redeemable into common shares						60,000
Exercise price of warrants						$ 10.00
Warrants exercisable date						May 01, 2015
Warrants expiration date						May 01, 2019

Related Party Transactions - Additional Information (Detail) - Convertible Note Payable-Related Parties [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Oct. 31, 2013
Related Party Transaction [Line Items]
Initial public offering	May 2014
Converted into common stock	21,250
Domain Partners VI LP [Member]
Related Party Transaction [Line Items]
Convertible promissory note principal amount		$ 170,000
Convertible promissory note interest rate		6.00%
Initial public offering	May 2014
Converted into common stock	21,250

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) ft²	Sep. 12, 2014 USD ($)	Feb. 28, 2010 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding material claims	$ 0
Reserve for indemnification	0
Milestone payments upon reaching development and regulatory milestone	$ 0			$ 2,150,000
License and supply agreement termination description	The license and supply agreement runs through the 7th anniversary of the expiration of all patents licensed under the agreement, which the Company estimates to be April 2036, unless terminated earlier.
Lease agreement period		37 months
Lease agreement area of office space \| ft²		3,700
Initial base annual rent		$ 5,604
Total base rent payable	$ 126,412		$ 205,000

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Operating Leases (Detail) - USD ($)	Dec. 31, 2015	Sep. 12, 2014
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Operating lease obligations, Total	$ 126,412	$ 205,000
Operating lease obligations, 2016	69,427
Operating lease obligations, 2017	56,985
Operating lease obligations, 2018	$ 0

Subsequent Event - Additional Information (Detail)	1 Months Ended	12 Months Ended
Subsequent Event - Additional Information (Detail)	Mar. 30, 2016 USD ($) ft²	Dec. 31, 2014 ft²	Dec. 31, 2015 USD ($)	Sep. 12, 2014 USD ($)
Subsequent Event [Line Items]
Lease agreement area of office space \| ft²		3,700
Annual payment of rent \| $			$ 126,412	$ 205,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Lease agreement area of office space \| ft²	3,188
Annual payment of rent \| $	$ 67,000

Fair Value Measurements - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Liabilities measured at fair value on a recurring basis	$ 0	$ 0
Assets measured at fair value on a recurring basis	$ 25,927,662	$ 0

Stock Incentive Plan - Summary of Stock Option Activity (Parenthetical) (Detail) - $ / shares	Dec. 31, 2015	Jan. 22, 2015	Jan. 21, 2015	Jan. 15, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract]
Closing market value of common stock	$ 6.78	$ 20.00	$ 20.00	$ 20.00