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Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2015	May 27, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	XBiotech Inc.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		31,984,963
Amendment Flag	true
Amendment Description	The purpose of the Amendment No. 2 on Form 10-Q/A to XBiotech Inc.'s quarterly report on Form 10-Q for the period ended March 31, 2015 (the "Report") filed with the Securities and Exchange Commission ("SEC") on May 27, 2015 and amended on May 29, 2015 (collectively, the "Form 10-Q") is solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. No other changes have been made to the Form 10-Q. This Amendment No. 2 speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date and does not beyond the amendments discussed above modify or update in any way disclosures made in the original Form 10-Q. Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are not deemed filed for purposes of Section 18 of the Securities Act of 1934, as amended, and otherwise are not subject to liability under those sections.
Entity Central Index Key	0001626878
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 52,236	$ 57,329
Prepaid expenses and other current assets	493	411
Deferred offering costs	1,036	324
Total current assets	53,765	58,064
Property and equipment, net	4,923	4,113
Total assets	58,688	62,177
Current liabilities:
Accounts payable	2,915	1,629
Accrued expenses	911	1,518
Total current liabilities	3,826	3,147
Long-term liabilities:
Deferred rent	2
Total liabilities	3,828	3,147
Shareholders’ equity:
Common stock, no par value, unlimited shares authorized, 27,726,631 and 27,546,632 shares outstanding at March 31, 2015 and December 31, 2014, respectively	156,393	152,351
Accumulated other comprehensive loss	(251)	(153)
Accumulated deficit	(101,282)	(93,168)
Total shareholders’ equity	54,860	59,030
Total liabilities and shareholders’ equity	$ 58,688	$ 62,177

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2015	Dec. 31, 2014
Common stock, par value	$ 0	$ 0
Common stock, shares outstanding	27,726,631	27,546,632

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating expenses:
Research and development	$ 6,784	$ 2,350
General and administrative	1,421	2,154
Total operating expenses	8,205	4,504
Loss from operations	(8,205)	(4,504)
Other income:
Foreign exchange gain	91	1
Total other income	91	1
Net loss	$ (8,114)	$ (4,503)
Net loss per share—basic and diluted (in Dollars per share)	$ (0.29)	$ (0.19)
Shares used to compute basic and diluted net loss per share (in Shares)	27,641,565	23,550,212

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net loss	$ (8,114)	$ (4,503)
Foreign currency translation adjustment	(98)	(86)
Comprehensive loss	$ (8,212)	$ (4,589)

- Definition

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

+ References + Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net loss	$ (8,114)	$ (4,503)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	165	141
Share-based compensation expense	1,222	1,842
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(82)	174
Accounts payable	883	(180)
Accrued expenses	(607)	187
Deferred rent	2
Net cash used in operating activities	(6,531)	(2,339)
Investing activities
Purchase of property and equipment	(571)	(58)
Net cash used in investing activities	(571)	(58)
Financing activities
Issuance of common stock and warrants, net	2,401	11,605
Issuance of common stock under stock option plan	8
Collection of subscription receivable	410
Deferred offering costs	(712)
Net cash provided by financing activities	2,107	11,605
Effect of foreign exchange rate on cash and cash equivalents	(98)	(86)
Net change in cash and cash equivalents	(5,093)	9,122
Cash and cash equivalents, beginning of period	57,329	4,167
Cash and cash equivalents, end of period	$ 52,236	$ 13,289

Note 1 - Organization	3 Months Ended
Note 1 - Organization	Mar. 31, 2015
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization XBiotech, Inc. (“XBiotech” or “the Company”) was incorporated in Canada on March 22, 2005. XBiotech USA Inc., a wholly-owned subsidiary of the Company, was incorporated in Delaware, United States (“U.S.”) in November 2007. XBiotech Schweiz AG, a wholly-owned subsidiary of the Company, was incorporated in Zug, Switzerland in August 2010. XBiotech Japan KK, a wholly-owned subsidiary of the Company, was incorporated in Tokyo, Japan in March 2013. XBiotech GmbH, a wholly-owned subsidiary of the Company, was incorporated in Germany in January 2014. Since its inception, XBiotech has focused on advancing technology to rapidly identify and clone antibodies from individuals that have resistance to disease. At the heart of the Company is a proprietary technical knowhow to translate natural human immunity into therapeutic product candidates. In 2005, the Company began to develop a new framework for commercial manufacturing, using technology that required less capital, fewer operators and provided greater flexibility than standard industry practices. With the manufacturing capability to produce its True HumanTM antibody therapy, in 2010 the Company began a clinical trial program. The first clinical trial program at MD Anderson Cancer Center began treating the sickest cancer patients irrespective of tumor type. Soon thereafter, the Company used the same antibody therapy in various clinical studies at treatment centers around the U.S. and abroad to investigate the antibody effect in patients that had vascular disease, leukemia, type 2 diabetes, psoriasis or acne. The Company’s headquarters are located in Austin, Texas. The Company continues to be subject to a number of risks common to companies in similar stages of development. Principal among these risks are the uncertainties of technological innovations, dependence on key individuals, development of the same or similar technological innovations by the Company’s competitors and protection of proprietary technology. The Company’s ability to fund its planned clinical operations, including completion of its planned trials, is expected to depend on the amount and timing of cash receipts from future collaboration or product sales and/or financing transactions.

Note 2 - Significant Accounting Policies

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

2. Significant Accounting Policies

Basis of Presentation

These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or US GAAP.

In the Company’s opinion, the accompanying interim unaudited consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting of normal, recurring adjustments, necessary for a fair presentation. Certain information and disclosures normally included in the notes to the annual consolidated financial statements prepared in accordance with GAAP have been omitted from these interim unaudited consolidated financial statements pursuant to the rules and regulations of the SEC. Accordingly, these interim unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and the accompanying notes for the fiscal year ended December 31, 2014, which are included in the Company’s Registration Statement on Form S-1, filed with the SEC on April 14 2015. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015 or for any other period.

Basis of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation.

Use of Estimates

The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported values of amounts in the financial statements and accompanying notes. Actual results could differ from those estimates.

The Company utilizes significant estimates and assumptions in determining the fair value of its common stock. The board of directors determined the estimated fair value of the Company’s common stock based on a number of objective and subjective factors, including the prices at which the Company sold shares of its common stock to third parties and external market conditions affecting the biotechnology industry sector.

Research and Development Costs

All research and development costs are charged to expense as incurred. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Costs incurred to acquire licenses for intellectual property to be used in research and development activities with no alternative future use are expensed as incurred as research and development.

Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are deferred and capitalized. The capitalized amounts are expensed as the related goods are delivered or the services are performed.

Income Taxes

The Company makes estimates and judgments in determining the need for a provision for income taxes, including the estimation of its taxable income or loss for the each full fiscal year. The Company has accumulated significant deferred tax assets that reflect the tax effects of net operating loss and tax credit carryovers and temporary difference between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Realization of certain deferred tax assets is dependent upon future earnings. The Company is uncertain about the timing and amount of any future earnings. Accordingly, the Company offsets these deferred tax assets with a valuation allowance. The Company may in the future determine that certain deferred tax assets will likely be realized, in which case the Company will reduce its valuation allowance in the period in which such determination is made. If the valuation allowance is reduced, the Company may recognize a benefit from income taxes in its statement of operations in that period. The Company classifies interest recognized pursuant to its deferred tax assets as interest expense, when appropriate.

Share-Based Compensation

The Company accounts for its share-based compensation awards in accordance with ASC Topic 718, Compensation-Stock Compensation (“ASC 718”). ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the statements of operations based on their grant date fair values. For stock options granted to employees and to members of the board of directors for their services on the board of directors, the Company estimates the grant date fair value of each option award using the Black-Scholes option-pricing model. The use of the Black-Scholes option-pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the common stock. For awards subject to service-based vesting conditions, the Company recognizes share-based compensation expense, net of estimated forfeitures, equal to the grant date fair value of stock options on a straight-line basis over the requisite service period.

Share-based compensation expense recognized for the three months ended March 31, 2015 and 2014 was included in the following line items on the Consolidated Statement of Operations (in thousands).

	Three Months Ended March 31,
	2015		2014
Research and development	$	456	$	140
General and administrative		766		1,702

Total share-based compensation expense	$	1,222	$	1,842

The fair value of each option is estimated on the date of grant using the Black-Scholes method with the following assumptions:

	Three Months Ended March 31,
	2015				2014
Dividend yield			–				–
Expected volatility			68%				70%
Risk-free interest rate		1.39%	–	2.12%		0.69%	–	2.73%
Expected life (in years)		5	–	10		3	–	10
Weighted-average grant date fair value per share			$9.56				$7.14

No related tax benefits were recognized for the three months ended March 31, 2015 and 2014.

Cash and Cash Equivalents

The Company considers highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents consisted primarily of cash on deposit in U.S., German, Swiss and Canadian banks. Cash and cash equivalents are stated at cost which approximates fair value.

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents. The Company holds these investments in highly-rated financial institutions, and limits the amounts of credit exposure to any one financial institution. These amounts at times may exceed federally insured limits. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company has no off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements.

Fair Value Measurements

The Company follows ASC Topic 820, Fair Value Measurements and Disclosures, which establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market date (observable inputs) and the Company’s own assumptions (unobservable inputs). The hierarchy consists of three levels:

•

Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities.

•

Level 2—Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability.

•

Level 3—Unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date.

At March 31, 2015 and December 31, 2014, the Company did not have any assets or liabilities that were remeasured at fair value on a recurring basis. The carrying amounts reflected in the balance sheets for cash and cash equivalents, prepaid expenses and other current assets, accounts payable, and accrued expenses approximate their fair values at March 31, 2015 and December 31, 2014, due to their short-term nature.

Property and Equipment

Property and equipment, which consists of land, construction in process, furniture and fixtures, computers and office equipment, scientific equipment, leasehold improvements and vehicles are stated at cost and depreciated over the estimated useful lives of the assets, with the exception of land and construction in process which are not depreciated, using the straight line method. The useful lives are as follows:

• Furniture and fixtures (years)	7

• Office equipment (years)	5

• Leasehold improvements	Shorter of asset’s useful life or remaining lease term

• Scientific equipment (years)	5

• Vehicles (years)	5

Costs of major additions and betterments are capitalized; maintenance and repairs, which do not improve or extend the life of the respective assets, are charged to expense as incurred. Upon retirement or sale, the cost of the disposed asset and the related accumulated depreciation are removed from the accounts and the resulting gain or loss is recognized.

Impairment of Long-Lived Assets

The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment. Potential impairment is assessed when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset may not be recovered. Recoverability of these assets is assessed based on undiscounted expected future cash flows from the assets, considering a number of factors, including past operating results, budgets and economic projections, market trends and product development cycles. If impairments are identified, assets are written down to their estimated fair value. The Company has not recognized any impairment through March 31, 2015.

Deferred Offering Costs

Deferred offering costs, which consist of direct incremental legal, accounting and other professional service fees relating to the Company’s Initial Public Offering (“IPO”), are capitalized. The deferred offering costs will be offset against the proceeds from this proposed offering upon the consummation of the IPO which occurred on April 14, 2015.

Foreign Currency Transactions

Certain transactions are denominated in a currency other than the Company’s functional currency of the U.S. dollar, and the Company generates assets and liabilities that are fixed in terms of the amount of foreign currency that will be received or paid. At each balance sheet, the Company adjusts the assets and liabilities to reflect the current exchange rate, resulting in a translation gain or loss. Transaction gains and losses are also realized upon a settlement of a foreign currency transaction in determining net loss for the period in which the transaction is settled.

Comprehensive Income (Loss)

ASC Topic 220, Comprehensive Income, requires that all components of comprehensive income (loss), including net income (loss), be reported in the financial statements in the period in which they are recognized. Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources, including unrealized gains and losses on investments and foreign currency translation adjustments.

Segment and Geographic Information

Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision making group, in making decisions on how to allocate resources and assess performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Company and the chief operating decision maker view the Company’s operations and manage its business as one operating segment. Substantially all of the Company’s operations are in the U.S. geographic segment.

Net Loss Per Share

Net loss per share (“EPS”) is computed by dividing net loss by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net loss by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include stock options, is computed using the treasury stock method.

Subsequent Events

The Company considered events or transactions occurring after the balance sheet date but prior to the date the consolidated financial statements are available to be issued for potential recognition or disclosure in its consolidated financial statements. Subsequent events have been evaluated through the date of issuance of the financial statements.

Recent Accounting Pronouncements

In June 2014 the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-10, Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810 Consolidation. These updates remove the definition of a development stage entity from the Master Glossary of the ASC, thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. This standard is effective for annual reporting periods beginning after December 15, 2014. The Company has early adopted this standard in the presentation of its financial statements.

In August 2014 the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The ASU is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. For all entities, the ASU is effective for annual periods ending after December 15, 2016 and interim periods within annual periods beginning after December 15, 2016. The Company has early adopted this standard in the presentation and its financial statements.

Note 3 - Income Taxes	3 Months Ended
Note 3 - Income Taxes	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	3. Income Taxes The Company did not provide for income taxes in 2015 because the Company has projected net loss for all jurisdictions for the full year 2015. The Company has recorded a full valuation allowance for its net deferred tax assets in 2015 and 2014.

Note 4 - Common Stock	3 Months Ended
Note 4 - Common Stock	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	4. Common Stock In August 2013, the Company sold 1.2 million shares of common stock at a price of $10.00 per share for total proceeds of approximately $12.0 million. Each share had one warrant attached, exercisable for 180 days into a single common share in the Company at a price of $10.00 per share. In February 2014, the Company sold 1.2 million shares of common stock for total proceeds of approximately $12 million from the exercise of warrants by common stock shareholders. From July through November 18, 2014, the Company sold approximately 601,000 shares of common stock at a price of $15.00 per share for total proceeds of approximately $9.0 million. Each share had one warrant attached, which would be exercisable for 180 days into a single common share in the Company at a price of $15.00 per share. As of December 31, 2014, the Company had total warrants outstanding for the purchase of 493,000 shares of common stock at a price of $15.00 per share. From November 24, 2014 through December 31, 2014, the Company sold 3.0 million shares of common stock at $15.00 per share pursuant to stock subscription agreements for the total proceeds of $44.8 million of which $410,000 remained uncollected as of December 31, 2014 and was received in January 2015. The Company incurred issuance costs of approximately $1.9 million in cash and $0.4 million in non-cash consideration. In December 2014, 15,000 stock options were exercised at a price of $10.00 for total proceeds of $0.15 million. In January to March 2015, the Company received requests from investors for the exercise of warrants to purchase a total of 164,999 shares of common stock at $15.00 per share for a total of $2.4 million from these exercised warrants. Also, the Company received approximately $8,000 in January 2015 from 15,000 exercised options at $0.55 per share.

- Definition

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

+ References

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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Note 5 - Common Stock Options

3 Months Ended

Mar. 31, 2015

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

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

5. Common Stock Options

On November 11, 2005, the board of directors of the Company adopted a stock option plan (“the Plan”) pursuant to which the Company may grant incentive stock options to directors, officers, employees or consultants of the Company or an affiliate or other persons as the Compensation Committee may approve.

In February and August 2011, the Company granted stock options to a non-employee consultant that vest over 3 and 4 years, respectively. The fair value of these awards is remeasured at each reporting date until the date the consultant’s services are completed.

All options will be non-transferable and may be exercised only by the participant, or in the event of the death of the participant, a legal representative until the earlier of the options’ expiry date or the first anniversary of the participant’s death, or such other date as may be specified by the Compensation Committee.

The term of the options is at the discretion of the Compensation Committee, but may not exceed 10 years from the grant date. The options expire on the earlier of the expiration date or the date three months following the day on which the participant ceases to be a director, officer or employee of or consultant to the Company, or in the event of the termination of the participant with cause, the date of such termination.

The number of common shares reserved for issuance to any one person pursuant to this Plan shall not, in aggregate, exceed 5% of the total number of outstanding common shares. The exercise price per common share under each option will be the fair market value of such shares at the time of the grant. Upon stock option exercise, the Company issues new shares of common stock.

A summary of changes in common stock options issued under the Plan is as follows:

	Options			Exercise Price				Weighted- Average Exercise Price

Options outstanding at December 31, 2014		4,884,165			$0.55	–	$15.00	$	7.03
Granted		65,000				15.00			15.00
Exercised		(15,000	)			0.56			0.56
Forfeitures		(95,625	)		0.55	–	15.00		8.83

Options outstanding at March 31, 2015		4,838,540			0.55	–	15.00		7.12

As of March 31, 2015, there was approximately $4.8 million of unrecognized compensation cost, related to stock options granted under the Plan which will be amortized to stock compensation expense over the next 1.78 years.

Note 6 - Net Loss Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

6. Net Loss Per Share

The following summarizes the computation of basic and diluted net loss per share for the three month ended March 31, 2015 and 2014 (in thousands, except share and per share data):

	Three months ended March 31,
	2015			2014
Net loss	$	(8,114	)	$	(4,503	)
Weighted-average number of common shares—basic and diluted		27,641,565			23,550,212
Net loss per share—basic and diluted	$	(0.29	)	$	(0.19	)

The following potentially dilutive securities outstanding, prior to the use of the treasury stock method or if-converted method, have been excluded from the computation of diluted weighted-average common shares outstanding, because including them would have had an anti-dilutive effect due to the losses reported.

	Three months ended March 31,
	2015		2014
Stock options		4,838,540		3,730,707
Warrants to purchase common stock		208,333		—

Total		5,046,873		3,730,707

Note 7 - Related-Party Transactions	3 Months Ended
Note 7 - Related-Party Transactions	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	7. Related-Party Transactions Legal fees of approximately $22,000 and $8,000 were incurred to a law firm for legal services rendered in which a former director of the Company is a senior partner in the three months ended March 31, 2015 and 2014. The Company had outstanding accounts payable to the same firm in the amount of approximately $12,000 and $37,000 as at March 31, 2015 and December 31, 2014.

- 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

Note 8 - Subsequent Events	3 Months Ended
Note 8 - Subsequent Events	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	8. Subsequent Events The Company closed its initial public offering of 4,000,000 shares of its common stock at a price of $19.00 per share for a total offering amount of $76,000,000, before the underwriting discounts and commissions and other company expenses on April 17, 2015. The Company received net proceeds of approximately $70.9 million after deducting underwriting discounts and commissions of $3.8 million and other offering expenses of approximately $1.3 million. Subsequent events have been evaluated through the date of issuance of these financial statements.

Accounting Policies, by Policy (Policies)

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or US GAAP.

Consolidation, Policy [Policy Text Block]

Basis of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Research and Development Expense, Policy [Policy Text Block]

Research and Development Costs

Income Tax, Policy [Policy Text Block]

Income Taxes

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Share-Based Compensation

Share-based compensation expense recognized for the three months ended March 31, 2015 and 2014 was included in the following line items on the Consolidated Statement of Operations (in thousands).

	Three Months Ended March 31,
	2015		2014
Research and development	$	456	$	140
General and administrative		766		1,702

Total share-based compensation expense	$	1,222	$	1,842

The fair value of each option is estimated on the date of grant using the Black-Scholes method with the following assumptions:

	Three Months Ended March 31,
	2015				2014
Dividend yield			–				–
Expected volatility			68%				70%
Risk-free interest rate		1.39%	–	2.12%		0.69%	–	2.73%
Expected life (in years)		5	–	10		3	–	10
Weighted-average grant date fair value per share			$9.56				$7.14

No related tax benefits were recognized for the three months ended March 31, 2015 and 2014.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk

Fair Value Measurement, Policy [Policy Text Block]

Fair Value Measurements

•

Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities.

•

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

• Furniture and fixtures (years)	7

• Office equipment (years)	5

• Leasehold improvements	Shorter of asset’s useful life or remaining lease term

• Scientific equipment (years)	5

• Vehicles (years)	5

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long-Lived Assets

Deferred Charges, Policy [Policy Text Block]

Deferred Offering Costs

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Transactions

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income (Loss)

Segment Reporting, Policy [Policy Text Block]

Segment and Geographic Information

Earnings Per Share, Policy [Policy Text Block]

Net Loss Per Share

Subsequent Events, Policy [Policy Text Block]

Subsequent Events

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

Note 2 - Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

	Three Months Ended March 31,
	2015		2014
Research and development	$	456	$	140
General and administrative		766		1,702

Total share-based compensation expense	$	1,222	$	1,842

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Three Months Ended March 31,
	2015				2014
Dividend yield			–				–
Expected volatility			68%				70%
Risk-free interest rate		1.39%	–	2.12%		0.69%	–	2.73%
Expected life (in years)		5	–	10		3	–	10
Weighted-average grant date fair value per share			$9.56				$7.14

Note 5 - Common Stock Options (Tables)

3 Months Ended

Mar. 31, 2015

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

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Options			Exercise Price				Weighted- Average Exercise Price

Options outstanding at December 31, 2014		4,884,165			$0.55	–	$15.00	$	7.03
Granted		65,000				15.00			15.00
Exercised		(15,000	)			0.56			0.56
Forfeitures		(95,625	)		0.55	–	15.00		8.83

Options outstanding at March 31, 2015		4,838,540			0.55	–	15.00		7.12

Note 6 - Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three months ended March 31,
	2015			2014
Net loss	$	(8,114	)	$	(4,503	)
Weighted-average number of common shares—basic and diluted		27,641,565			23,550,212
Net loss per share—basic and diluted	$	(0.29	)	$	(0.19	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Three months ended March 31,
	2015		2014
Stock options		4,838,540		3,730,707
Warrants to purchase common stock		208,333		—

Total		5,046,873		3,730,707

Note 2 - Significant Accounting Policies (Details)	3 Months Ended
Note 2 - Significant Accounting Policies (Details)	Mar. 31, 2015 USD ($)	Mar. 31, 2014 USD ($)
Furniture and Fixtures [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Office Equipment [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Equipment [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Vehicles [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Income Tax Expense (Benefit) (in Dollars)	$ 0	$ 0
Number of Operating Segments	1

Note 2 - Significant Accounting Policies (Details) - Share-based Compensation Expense - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 456	$ 140
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	766	1,702
Share-based compensation expense	$ 1,222	$ 1,842

Note 2 - Significant Accounting Policies (Details) - Stock Option Valuation Assumptions - $ / shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Minimum [Member]
Note 2 - Significant Accounting Policies (Details) - Stock Option Valuation Assumptions [Line Items]
Risk-free interest rate	1.39%	0.69%
Expected life (in years)	5 years	3 years
Maximum [Member]
Note 2 - Significant Accounting Policies (Details) - Stock Option Valuation Assumptions [Line Items]
Risk-free interest rate	2.12%	2.73%
Expected life (in years)	10 years	10 years
Expected volatility	68.00%	70.00%
Weighted-average grant date fair value per share (in Dollars per share)	$ 9.56	$ 7.14

Note 4 - Common Stock (Details) - USD ($)	1 Months Ended					3 Months Ended	5 Months Ended
Note 4 - Common Stock (Details) - USD ($)	Jan. 31, 2015	Dec. 31, 2014	Dec. 31, 2014	Feb. 28, 2014	Aug. 31, 2013	Mar. 31, 2015	Nov. 18, 2014
Non-cash Consideration of Stock Issuance Costs [Member]
Note 4 - Common Stock (Details) [Line Items]
Other Significant Noncash Transaction, Value of Consideration Given		$ 400,000
Stock Issued During Period, Shares, New Issues		3,000,000			1,200,000		601,000
Share Price		$ 15.00	$ 15.00		$ 10.00		$ 15.00
Proceeds from Issuance of Common Stock		$ 44,800,000			$ 12,000,000		$ 9,000,000
Class of Warrant or Right, Issued, Number of Warrants Per Share					1		1
Class of Warrant or Right, Expiration Period					180 days		180 days
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 15.00	$ 15.00		$ 10.00	$ 15.00	$ 15.00
Class of Warrant or Right, Exercised During Period				1,200,000		164,999
Proceeds from Warrant Exercises				$ 12,000,000		$ 2,400,000
Class of Warrant or Right, Outstanding		493,000	493,000
Common Stock, Share Subscribed but Unissued, Subscriptions Receivable		$ 410,000	$ 410,000
Payments of Stock Issuance Costs		$ 1,900,000				$ 712,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	15,000		15,000			15,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 0.55		$ 10.00			$ 0.56
Proceeds from Stock Options Exercised	$ 8,000		$ 150,000

Note 5 - Common Stock Options (Details) - The Plan [Member] - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Aug. 31, 2011	Feb. 28, 2011	Mar. 31, 2015
Employee Stock Option [Member]
Note 5 - Common Stock Options (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			1 year 284 days
Any One Person [Member]
Note 5 - Common Stock Options (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum			5.00%
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars)			$ 4.8

Note 5 - Common Stock Options (Details) - Changes in Common Stock Options Issued - $ / shares	1 Months Ended		3 Months Ended
	Jan. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Minimum [Member]
Note 5 - Common Stock Options (Details) - Changes in Common Stock Options Issued [Line Items]
Options outstanding at December 31, 2014	$ 0.55		$ 0.55
Options outstanding at March 31, 2015		$ 0.55	0.55
Forfeitures			0.55
Maximum [Member]
Note 5 - Common Stock Options (Details) - Changes in Common Stock Options Issued [Line Items]
Options outstanding at December 31, 2014	$ 15.00		15.00
Options outstanding at March 31, 2015		$ 15.00	15.00
Forfeitures			$ 15.00
Options outstanding at December 31, 2014 (in Shares)	4,884,165		4,884,165
Options outstanding at December 31, 2014	$ 7.03		$ 7.03
Options outstanding at March 31, 2015 (in Shares)		4,884,165	4,838,540
Options outstanding at March 31, 2015		$ 7.03	$ 7.12
Granted (in Shares)			65,000
Granted			$ 15.00
Exercised (in Shares)	(15,000)	(15,000)	(15,000)
Exercised	$ 0.55	$ 10.00	$ 0.56
Forfeitures (in Shares)			(95,625)
Forfeitures			$ 8.83

Note 6 - Net Loss Per Share (Details) - Computation of Basic and Diluted Net Loss Per Share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Computation of Basic and Diluted Net Loss Per Share [Abstract]
Net loss	$ (8,114)	$ (4,503)
Weighted-average number of common shares—basic and diluted	27,641,565	23,550,212
Net loss per share—basic and diluted	$ (0.29)	$ (0.19)

- Definition

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

+ References + Details

Note 6 - Net Loss Per Share (Details) - Potentially Dilutive Securities Outstanding - shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	4,838,540	3,730,707
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	208,333
Antidilutive securities	5,046,873	3,730,707

Note 7 - Related-Party Transactions (Details) - Former Director [Member] - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Legal Fees, Related Party [Member]
Note 7 - Related-Party Transactions (Details) [Line Items]
Related Party Transaction, Amounts of Transaction	$ 22,000	$ 8,000
Accounts Payable, Related Parties	$ 12,000	$ 37,000

Note 8 - Subsequent Events (Details) - USD ($)		1 Months Ended		3 Months Ended	5 Months Ended
Note 8 - Subsequent Events (Details) - USD ($)	Apr. 17, 2015	Dec. 31, 2014	Aug. 31, 2013	Mar. 31, 2015	Nov. 18, 2014
Subsequent Event [Member] \| Underwriting Discounts and Commissions [Member]
Note 8 - Subsequent Events (Details) [Line Items]
Payments of Stock Issuance Costs	$ 3,800,000
Subsequent Event [Member] \| Other Offering Expenses [Member]
Note 8 - Subsequent Events (Details) [Line Items]
Payments of Stock Issuance Costs	$ 1,300,000
Subsequent Event [Member]
Note 8 - Subsequent Events (Details) [Line Items]
Stock Issued During Period, Shares, New Issues (in Shares)	4,000,000
Share Price (in Dollars per share)	$ 19.00
Stock Issued During Period, Value, New Issues	$ 76,000,000
Proceeds from Issuance Initial Public Offering	$ 70,900,000
Stock Issued During Period, Shares, New Issues (in Shares)		3,000,000	1,200,000		601,000
Share Price (in Dollars per share)		$ 15.00	$ 10.00		$ 15.00
Payments of Stock Issuance Costs		$ 1,900,000		$ 712,000