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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2015	Mar. 15, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	Jaguar Animal Health, Inc.
Entity Central Index Key	0001585608
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 10,480,126
Entity Common Stock, Shares Outstanding		10,142,519
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY

Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 7,697,531	$ 845,192
Accounts receivable	55,867
Due from former parent	3,199
Inventory	229,871	198,029
Deferred offering costs	143,231	2,480,049
Prepaid expenses	324,083	24,170
Total current assets	8,453,782	3,547,440
Property and equipment, net	829,232	872,523
Restricted cash	3,000,000
Other Assets	122,163
Total assets	12,405,177	4,419,963
Current liabilities:
Accounts payable	574,462	698,318
License fee payable to former parent	425,000
Due to former parent		16,581
Deferred revenue	251,936	23,802
Convertible notes payable	150,000	424,674
Notes Payable		392,042
Warrant liability		601,889
Accrued expenses	798,434	1,317,991
Current portion of long-term debt	1,707,899
Total current liabilities	3,907,731	3,475,297
Long-term debt, net of discount	4,095,028
License fee payable to former parent		1,875,000
Deferred rent	3,321
Total liabilities	8,006,080	5,350,297
Commitments and Contingencies (See note 7)
Stockholders' Equity (Deficit):
Preferred stock: $0.0001 par value, 10,000,000 and 0 shares authorized at December 31, 2015 and December 31, 2014, respectively; no shares issued and outstanding at December 31, 2015 and December 31, 2014.
Common stock: $0.0001 par value, 50,000,000 and 15,000,000 shares authorized at December 31, 2015 and December 31, 2014, respectively; 8,124,923 and 2,874,330 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively.	812	288
Additional paid-in capital	30,100,613	1,175,242
Accumulated deficit	(25,702,328)	(9,410,778)
Total stockholders' equity (deficit)	4,399,097	(8,235,248)
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	12,405,177	4,419,963
Series A redeemable convertible preferred stock
Current liabilities:
Series A redeemable convertible preferred stock; $0.0001 par value, 0 and 3,017,488 shares authorized at December 31, 2015 and December 31, 2014, respectively; 0 and 3,015,902 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively; (liquidation preferrence of $0 and $6,777,338 at December 31, 2015 and December 31, 2014, respectively).	$ 0	$ 7,304,914

Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Redeemable convertible preferred stock, shares issued		3,015,902
Redeemable convertible preferred stock, liquidation preference (in dollars)	$ 0	$ 6,777,338
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	15,000,000
Common stock, shares issued	8,124,923	2,874,330
Common stock, shares outstanding	8,124,923	2,874,330
Series A redeemable convertible preferred stock
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock, shares authorized	0	3,017,488
Redeemable convertible preferred stock, shares issued	0	3,015,902
Redeemable convertible preferred stock, shares outstanding	0	3,015,902

Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenue
Revenue	$ 258,381
Operating Expenses
Cost of revenue	123,457
Research and development expense	6,475,851	$ 4,220,338
Sales and marketing expense	765,091
General and administrative expense	5,339,351	4,095,324
Total operating expenses	12,703,750	8,315,662
Loss from operations	(12,445,369)	(8,315,662)
Interest expense, net	(3,317,287)	(345,336)
Other expense	(27,277)
Change in fair value of warrants	(501,617)	51,423
Net loss and comprehensive loss	(16,291,550)	(8,609,575)
Accretion of redeemable convertible preferred stock	(346,374)	(646,673)
Net loss attributable to common stockholders	$ (16,637,924)	$ (9,256,248)
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (2.70)	$ (3.24)
Weighted-average common shares outstanding, basic and diluted (in shares)	6,153,139	2,854,417

Statement of Changes in Convertible Preferred Stock (Series A Redeemable Convertible Preferred Stock)	12 Months Ended
	Dec. 31, 2015 USD ($) shares
Increase (decrease) in temporary equity
Beginning Balance (in shares) \| shares	3,015,902
Conversion of preferred stock into common stock upon initial public offering	$ 7,651,288
Deemed dividends on Series A	263,060
Series A redeemable convertible preferred stock
Increase (decrease) in temporary equity
Beginning Balance	$ 7,304,914
Beginning Balance (in shares) \| shares	3,015,902
Conversion of preferred stock into common stock upon initial public offering	$ (7,651,288)
Conversion of preferred stock into common stock upon initial public offering (in shares) \| shares	(3,015,902)
Deemed dividends on Series A	$ 263,060
Accretion of issuance costs	83,314
Ending Balance	$ 0
Ending Balance (in shares) \| shares	0

Statement of Changes in Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional paid-in capital	Accumulated deficit	Total
Balance at Dec. 31, 2013	$ 267	$ 366,083	$ (801,203)	$ (434,853)
Balance (in shares) at Dec. 31, 2013	2,666,666
Increase (decrease) in Stockholders' Equity (Deficit)
Conversion of convertible notes payable	$ 21	524,979		525,000
Conversion of convertible notes payable (in shares)	207,664
Stock-based compensation		164,156		164,156
Beneficial conversion feature on notes payable		614,557		614,557
Warrants issued in connection with the line of credit		114,300		114,300
Warrants issued in connection with the transfer agreement		37,840		37,840
Deemed dividends on Series A		(610,889)		(610,889)
Accretion of issuance costs		(35,784)		(35,784)
Net and comprehensive loss			(8,609,575)	(8,609,575)
Balance at Dec. 31, 2014	$ 288	1,175,242	(9,410,778)	(8,235,248)
Balance (in shares) at Dec. 31, 2014	2,874,330
Increase (decrease) in Stockholders' Equity (Deficit)
Issuance of common stock in initial public offering, net of discounts and commissions of $1,209,802, offering costs of $2,897,825 and offering costs in the form of common stock warrants of $400,400	$ 286	15,511,974		15,512,260
Issuance of common stock in initial public offering, net of discounts and commissions (in shares)	2,860,000
Warrant, issued in conjunction with the initial public offering		400,400		400,400
Conversion of preferred stock into common stock upon initial public offering	$ 201	7,651,087		7,651,288
Conversion of preferred stock into common stock upon initial public offering (in shares)	2,010,596
Conversion of preferred stock warrant liability into additional paid-in capital		1,150,985		1,150,985
Conversion of convertible notes payable	$ 37	2,099,963		2,100,000
Conversion of convertible notes payable (in shares)	374,997
Stock-based compensation		992,165		992,165
Beneficial conversion feature on notes payable		1,202,521		1,202,521
Deemed dividends on Series A		(263,060)		(263,060)
Accretion of issuance costs		(83,314)		(83,314)
Napo license fee abatement		250,000		250,000
Issuance of common stock upon exercise of stock options		12,650		12,650
Issuance of common stock upon exercise of stock options (in shares)	5,000
Net and comprehensive loss			(16,291,550)	(16,291,550)
Balance at Dec. 31, 2015	$ 812	$ 30,100,613	$ (25,702,328)	$ 4,399,097
Balance (in shares) at Dec. 31, 2015	8,124,923

Statement of Changes in Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical)	12 Months Ended
	Dec. 31, 2015 USD ($)
Common Stock \| Warrants to purchase common stock
Stock Transactions, Parenthetical Disclosures
Other Financial Services Costs	$ 400,400
Common Stock \| Underwriters' over-allotment option
Stock Transactions, Parenthetical Disclosures
Other Financial Services Costs	1,209,802
Common Stock \| IPO
Stock Transactions, Parenthetical Disclosures
Other Financial Services Costs	$ 2,897,825

Statements of Cash Flow - USD ($)	12 Months Ended
Statements of Cash Flow - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities
Net loss	$ (16,291,550)	$ (8,609,575)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	5,155
Gain/loss on disposal of fixed assets	34,549
Materials cost in connection with license activity	6,287	1,082,626
Warrants issued in connection with transfer agreement		37,840
Warrants issued in connection with line of credit		114,300
Stock-based compensation	992,165	164,156
Revaluation of warrant liability	501,617	(51,423)
Changes in assets and liabilities
Accounts receivable - trade	(55,867)
Inventory	(31,842)	(198,029)
Prepaid license fee		100,000
Prepaid expenses	(299,913)	(24,170)
Other long-term assets	(122,163)
Due from/to former parent	(19,780)	(99,802)
Deferred revenue	228,134	23,802
Deferred rent	3,321
License fee payable	(1,200,000)	(25,000)
Accounts payable	(240,087)	689,323
Accrued expenses	(546,557)	1,238,741
Total cash used in operations	(14,315,863)	(5,359,218)
Cash Flows from Investing Activities
Purchase of equipment	(23,300)	(55,149)
Sale of equipment	20,600
Change in restricted cash	(3,000,000)
Total Cash Used in Investing Activities	(3,002,700)	(55,149)
Cash Flows from Financing Activities
Proceeds from Issuance of Long-term Debt	5,615,543
Proceeds from issuance of redeemable convertible preferred stock, net		6,658,241
Proceeds from issuance of redeemable convertible notes payable, net	1,250,000	1,100,000
Proceeds from issuance of notes payable, net		796,000
Repayment of convertible notes payable	(100,000)
Repayment of notes payable	(1,000,000)
Proceeds from issuance of common stock in initial public offering, net of commissions and discounts	18,810,484
Deferred offering costs	(417,775)	(2,480,049)
Proceeds from exercise of common stock options	12,650
Total Cash Provided by Financing Activities	24,170,902	6,074,192
Net increase in cash and cash equivalents	6,852,339	659,825
Cash and cash equivalents, beginning of period	845,192	185,367
Cash and cash equivalents, end of period	7,697,531	845,192
Supplemental Schedule of Non-Cash Financing and Investing Activities
Interest paid on long-term debt	173,250
Equipment received in connection with license agreement		817,374
Notes payable converted into common stock		525,000
Warrants issued in connection with convertible notes payable	47,479	147,943
Warrants issued in connection with notes payable		505,348
Warrants issued in connection with the initial public offering	400,400
Accretion of redeemable convertible preferred stock	346,374	646,673
Abatement of license fee payable to Napo	250,000
Conversion of convertible preferred stock to common stock	7,651,288
Conversion preferred stock warrant liability to common stock warrants	1,150,985
Conversion of convertible notes to common stock	2,100,000	$ 525,000
Deferred offering costs in accounts payable	116,231
Deferred offering costs in accrued expenses	$ 27,000

Organization and Business	12 Months Ended
Organization and Business	Dec. 31, 2015
Organization and Business
Organization and Business	1. Organization and Business Jaguar Animal Health, Inc. ("Jaguar" or the "Company") was incorporated on June 6, 2013 (inception) in Delaware. The Company was a majority-owned subsidiary of Napo Pharmaceuticals, Inc. ("Napo" or the "Former Parent") until the close of the Company's initial public offering on May 18, 2015. The Company was formed to develop and commercialize first-in-class gastrointestinal products for companion and production animals and horses. The Company's first commercial product, Neonorm Calf, was launched in 2014. The Company's activities are subject to significant risks and uncertainties, including failing to secure additional funding in order to timely compete the development and commercialization of products. The Company operates in one segment and is headquartered in San Francisco, California. On June 11, 2013, Jaguar issued 2,666,666 shares of common stock to Napo in exchange for cash and services. On July 1, 2013, Jaguar entered into an employee leasing and overhead agreement (the "Service Agreement") with Napo, under which Napo agreed to provide the Company with the services of certain Napo employees for research and development and the general administrative functions of the Company. On January 27, 2014, Jaguar executed an intellectual property license agreement with Napo pursuant to which Napo transferred fixed assets and development materials, and licensed intellectual property and technology to Jaguar. On February 28, 2014, the Service Agreement terminated and the associated employees became employees of Jaguar effective March 1, 2014. See Note 10 for additional information regarding the capital contributions and Notes 4 and 5 for the Service Agreement and license agreement details, respectively. Reverse Stock Split In October 2014, the Board of Directors and stockholders approved a 1-for-1.5 reverse stock split (the "Reverse Split") of the Company's outstanding shares of common stock and increased the number of authorized shares of common stock from 10,000,000 shares to 15,000,000 shares. The Company effected the Reverse Split on October 27, 2014. Under the terms of the Reverse Split, each share of common stock, issued and outstanding as of such effective date, was automatically reclassified and changed into two-thirds of one share of common stock, without any action by the stockholder. Fractional shares were rounded down to the nearest whole share. All share and per share amounts have been restated to reflect the Reverse Split. Initial Public Offering On May 18, 2015, the Company completed an initial public offering ("IPO") of its common stock. In connection with its IPO, the Company issued and sold 2,860,000 shares of common stock at a price to the public of $7.00 per share. As a result of the IPO, the Company received $15.9 million in net proceeds, after deducting underwriting discounts and commissions of $1.2 million and offering expenses of $2.9 million ($3.3 million including non-cash offering expenses) payable by the Company. In connection with the IPO, the Company's outstanding shares of convertible preferred stock were automatically converted into 2,010,596 shares of common stock and the Company's outstanding warrants to purchase convertible preferred stock were all converted to warrants to purchase common stock. Liquidity The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has incurred recurring operating losses since inception and has an accumulated deficit of $25,702,328 as of December 31, 2015. The Company expects to incur substantial losses in future periods. Further, the Company's future operations are dependent on the success of the Company's ongoing development and commercialization efforts. There is no assurance that profitable operations, if ever achieved, could be sustained on a continuing basis. The Company plans to finance its operations and capital funding needs through equity and/or debt financing as well as revenue from future product sales. However, there can be no assurance that additional funding will be available to the Company on acceptable terms on a timely basis, if at all, or that the Company will generate sufficient cash from operations to adequately fund operating needs or ultimately achieve profitability. If the Company is unable to obtain an adequate level of financing needed for the long-term development and commercialization of its products, the Company will need to curtail planned activities and reduce costs. Doing so will likely have an adverse effect on the Company's ability to execute on its business plan. These matters raise substantial doubt about the ability of the Company to continue in existence as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2015
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company's management to make judgments, assumptions and estimates that affect the amounts reported in its financial statements and the accompanying notes. The accounting policies that reflect the Company's more significant estimates and judgments and that the Company believes are the most critical to aid in fully understanding and evaluating its reported financial results are valuation of stock options; valuation of warrant liabilities; impairment of long lived assets; useful lives for depreciation; valuation adjustments for excess and obsolete inventory; deferred taxes and valuation allowances on deferred tax assets; and evaluation and measurement of contingencies. Those estimates could change, and as a result, actual results could differ materially from those estimates. Deferred Offering Costs Deferred offering costs are costs incurred in filings of registration statements with the Securities and Exchange Commission. These deferred offering costs are offset against proceeds received upon the closing of the offerings. Deferred costs of $143,231 as of December 31, 2015 include legal, accounting and filing fees associated with the follow-on registration offering as more fully described in Note 16. Deferred costs of $2,480,049 as of December 31, 2014 include legal, accounting and filing fees associated with the Company's IPO, which closed on May 18, 2015. Concentration of Credit Risk and Cash and Cash Equivalents The financial instrument that potentially subjects the Company to a concentration of credit risk is that is held at a financial institution of high credit standing. Cash is generally in excess of Federal Deposit Insurance Corporation ("FDIC") insurance limits. Therefore, the Company is exposed to credit risk in the event that the balances exceed FDIC insurance limits. The carrying value of cash approximates fair value at December 31, 2015 and 2014. Fair Values The Company's financial instruments include, cash and cash equivalents, accounts payable, accrued expenses, amounts due to Napo, the former parent, warrant liabilities, and debt. Cash is reported at fair value. The recorded carrying amount of accounts payable, accrued expenses and amounts due to Napo approximates their fair value due to their short-term nature. The carrying value of the interest-bearing debt approximates fair value based upon the borrowing rates currently available to the Company for bank loans with similar terms and maturities. See Note 3 for the fair value measurements, and Note 8 for the fair value of the Company's warrant liabilities. Restricted Cash On August 18, 2015, the Company entered into a long-term loan and security agreement with a lender for up to $8,000,000, which provided for an initial loan commitment of $6,000,000. The loan agreement required the Company to maintain a base minimum cash balance of $4.5 million until the Company met certain milestones. On December 22, 2015, the Company achieved certain milestones and the base minimum cash balance was reduced to $3.0 million. Inventories Inventories are stated at the lower of cost or market. The Company calculates inventory valuation adjustments when conditions indicate that the net realizable value is less than cost due to physical deterioration, usage, obsolescence, reductions in estimated future demand or reduction in selling price. Inventory write-downs are measured as the difference between the cost of inventory and estimated net realizable value. There were no write-downs in either 2015 or 2014. Property and Equipment Equipment is stated at cost, less accumulated depreciation. Equipment begins to be depreciated when it is placed into service. Depreciation will be calculated using the straight-line method over the estimated useful lives of 3 to 10 years. Expenditures for repairs and maintenance of assets are charged to expense as incurred. Costs of major additions and betterments are capitalized and depreciated on a straight-line basis over their estimated useful lives. Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts and any resulting gain or loss is included in income (loss) from operations. Long-Lived Assets The Company regularly reviews the carrying value and estimated lives of all of its long-lived assets, including property and equipment to determine whether indicators of impairment may exist that warrant adjustments to carrying values or estimated useful lives. The determinants used for this evaluation include management's estimate of the asset's ability to generate positive income from operations and positive cash flow in future periods as well as the strategic significance of the assets to the Company's business objectives. Should an impairment exist, the impairment loss would be measured based on the excess of the carrying amount over the asset's fair value. The Company has not recognized any impairment losses through December 31, 2015. Research and Development Expense Research and development expense consists of expenses incurred in performing research and development activities including related salaries, clinical trial and related drug and non-drug product costs, contract services and other outside service expenses. Research and development expense is charged to operating expense in the period incurred. Revenue Recognition Sales to distributors are made under agreements that may provide distributor price adjustments and rights of return under certain circumstances. Until the Company develops sufficient sales history and pipeline visibility, revenue and costs of distributor sales will be deferred until products are sold by the distributor to the distributor's customers. Revenue recognition depends on notification either directly from the distributor that product has been sold to the distributor's customer, when the Company has access to the data. The Company will maintain controls to verify that the reported distributor and third party data is accurate. Deferred revenue on shipments to distributors will reflect the estimated effects of distributor price adjustments, if any, and the estimated amount of gross margin expected to be realized when the distributor sells through product purchased from the Company. Accounts receivable from distributors are recognized and included in deferred revenue when shipped to the distributor. Inventory is relieved and revenue recognized upon shipment by the distributor to their customer. The Company had no revenue for the year ended December 31, 2014 and $258,381 for the year ended December 31, 2015. Stock-Based Compensation The Company's 2013 Equity Incentive Plan and 2014 Stock Incentive Plan (see Note 11) provides for the grant of stock options, restricted stock and restricted stock unit awards. The Company measures stock awards granted to employees and directors at fair value on the date of grant and recognizes the corresponding compensation expense of the awards, net of estimated forfeitures, over the requisite service periods, which correspond to the vesting periods of the awards. The Company issues stock awards with only service-based vesting conditions, and records compensation expense for these awards using the straight-line method. The Company values its shares of common stock by taking into consideration its most recently available valuation of common stock performed by management and the board of directors, as well as additional factors that may have changed since the date of the most recent contemporaneous valuations through the date of grant. Classification of Securities The Company applies the principles of ASC 480-10 "Distinguishing Liabilities from Equity" and ASC 815-40 "Derivatives and Hedging—Contracts in Entity's Own Equity" to determine whether financial instruments such as warrants, contingently issuable shares and shares subject to repurchase should be classified as liabilities or equity and whether beneficial conversion features exist. Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the financial statements or in the Company's tax returns. Deferred taxes are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, that it is more likely than not that all or a portion of deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense. Potential for recovery of deferred tax assets is evaluated by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The Company accounts for uncertainty in income taxes recognized in the financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate, as well as the related net interest and penalties. Comprehensive Loss Comprehensive loss is defined as changes in stockholders' equity (deficit) exclusive of transactions with owners (such as capital contributions and distributions). For the years ending December 31, 2015 and 2014 there was no difference between net loss and comprehensive loss. Segment Data The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company is an animal health company focused on developing and commercializing prescription and non-prescription products for companion and production animals. Basic and Diluted Net Loss Per Common Share Basic net loss per common share is computed by dividing net loss attributable to common stockholders for the period by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders for the period by the weighted-average number of common shares, including potential dilutive shares of common stock assuming the dilutive effect of potential dilutive securities. For periods in which the Company reports a net loss, diluted net loss per common share is the same as basic net loss per common share, because their impact would be anti-dilutive to the calculation of net loss per common share. Diluted net loss per common share is the same as basic net loss per common share for the years ended December 31, 2015 and 2014. Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842), which provides guidance for accounting for leases. Under ASU 2016-02, the Company will be required to recognize the assets and liabilities for the rights and obligations created by leased assets. ASU 2016-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. We are currently evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740), which simplifies the presentation of deferred income taxes. Under ASU 2015-17, deferred tax assets and liabilities are required to be classified as noncurrent, eliminating the prior requirement to separate deferred tax assets and liabilities into current and noncurrent. The new guidance is effective for the Company beginning on January 1, 2017, with early adoption permitted. The standard may be adopted prospectively or retrospectively to all periods presented. The Company is currently assessing the timing of adoption of the new guidance, but does not expect it will have a material impact on the Company's Consolidated Financial Statements. In April 2015, the FASB issued ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, to simplify the presentation of debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding debt liability. ASU 2015-03 will be effective for the Company beginning in its first quarter of 2016, however early adoption is permitted for financial statements that have not been previously issued. The guidance is to be applied retrospectively to all periods presented. We adopted ASU 2015-03 on December 31, 2015 and recognized unamortized debt issuance costs of $250,024 and $104,000 for the years ended December 31, 2015 and 2014, respectively, as a reduction to our long-term debt balance. In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements—Going Concern (Subtopic 205-40)—Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern", which provides guidance regarding management's responsibility to assess whether substantial doubt exists regarding the ability to continue as a going concern and to provide related footnote disclosures. In connection with preparing financial statements for each annual and interim reporting period, management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). This ASU is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company is currently evaluating the new guidance and has not determined the impact this standard may have on its financial statements. In June 2014, the FASB issued authoritative guidance which requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This guidance will be effective for annual periods (and interim periods within those annual periods) beginning after December 15, 2015. The Company will implement this guidance for all interim and annual periods beginning after December 15, 2015. The adoption of this guidance is not expected to have an impact on the Company's financial condition, results of operations or cash flows. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The objective of ASU 2014-19 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is effective for annual reporting periods beginning after December 15, 2016 and allows for prospective or retrospective application. The Company is evaluating the new guidance and has not determined the impact this pronouncement will have on its financial statements.

Fair Value Measurements

12 Months Ended

Dec. 31, 2015

Fair Value Measurements

Fair Value Measurements

3. Fair Value Measurements

ASC 820 "Fair Value Measurements," defines fair value, establishes a framework for measuring fair value under generally accepted accounting principles and enhances disclosures about fair value measurements. Fair value is defined under ASC 820 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 under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes 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 for identical 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 that are observable or can be corroborated by observable market data; and
	•	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, including pricing models, discounted cash flow methodologies and similar techniques.

The following table presents information about the Company's warrant liability that was measured at fair value on a recurring basis as of December 31, 2014 and indicates the fair value hierarchy of the valuation:

	Level 1		Level 2		Level 3		Total
Fiscal Year 2014:
Warrant Liability	$	—	$	—	$	601,889	$	601,889

The warrant liability was converted into an equity instrument when it became convertible into common stock at the IPO. The change in the estimated fair value of the warrant liability is summarized below:

	Beginning Value of Warrant Liability		Issuance of Common Stock Warrants		Change in Fair Value of Level 3 Liability			Conversion into Additional Paid-in Capital			Ending Fair Value of Level 3 Liability
For the year ended December 31, 2015	$	601,889	$	47,479	$	501,617		$	(1,150,985	)	$	—


For the year ended December 31, 2014	$	—	$	653,312	$	(51,423	)	$	—		$	601,889

The change in the fair value of the level 3 warrant liability is reflected in the statement of operations and comprehensive loss for the year ended December 31, 2015.

There were no assets or liabilities measured at fair value on a recurring basis at December 31, 2015.

- 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

Employee Leasing and Overhead Allocation Agreement	12 Months Ended
Employee Leasing and Overhead Allocation Agreement	Dec. 31, 2015
Employee Leasing and Overhead Allocation Agreement
Employee Leasing and Overhead Allocation Agreement	4. Employee Leasing and Overhead Allocation Agreement Effective July 1, 2013, the Company entered into an employee leasing and overhead allocation agreement (the "Service Agreement") with Napo. The term of the Service Agreement was from July 1, 2013 through February 28, 2014. In connection with the Service Agreement, Napo provided the Company with the services of Napo employees. The Service Agreement also stipulated that Jaguar would pay for a portion of Napo's overhead costs. The Company agreed to pay Napo $71,811 per month (consisting of $38,938 for executive compensation, $26,873 for employee services, and $6,000 for overhead costs) for the months from July 2013 through February 2014 as follows: (1) for the period from July 2013 through November 2013, in 2,666,666 shares of common stock and (2) for the period from December 2013 through February 2014, in cash. Commencing March 1, 2014, the relevant Napo employees became employees of the Company and all overhead costs related to the animal health business will be paid by the Company. The Company recognized $114,858 and $28,764 in general and administrative expense and research and development expense, respectively, in the Company's 2014 statement of operations and comprehensive loss.

License Agreement	12 Months Ended
License Agreement	Dec. 31, 2015
License Agreement
License Agreement	5. License Agreement On July 11, 2013, Jaguar entered into an option to license Napo's intellectual property and technology (the "Option Agreement"). Under the Option Agreement, upon the payment of $100,000 in July 2013, the Company obtained an option for a period of two years to execute an exclusive worldwide license to Napo's intellectual property and technology to use for the Company's animal health business. The option price was creditable against future license fees to be paid to Napo under the License Agreement (as defined below). In January 2014, the Company exercised its option and entered into a license agreement (the "License Agreement") with Napo for an exclusive worldwide license to Napo's intellectual property and technology to permit the Company to develop, formulate, manufacture, market, use, offer for sale, sell, import, export, commercialize and distribute products for veterinary treatment uses and indications for all species of animals. The Company was originally obligated to pay a one-time non-refundable license fee of $2,000,000, less the option fee of $100,000. At the Company's option, the license fee could have been paid in common stock. Milestone payments aggregating $3,150,000 may also be due to Napo based on regulatory approvals of various veterinary products. In addition to the milestone payments, the Company will owe Napo an 8% royalty on annual net sales of products derived from the Croton lechleri tree, up to $30,000,000 and then, a royalty of 10% on annual net sales of $30,000,000 or more. Additionally, if any other products are developed, the Company will owe Napo a 2% royalty on annual net sales of pharmaceutical prescription products that are not derived from Croton lechleri and a 1% royalty on annual net sales of nonprescription products that are not derived from Croton lechleri. The royalty term expires at the longer of 10 years from the first sale of each individual product or when there is no longer a valid patent claim covering any of the products and a competitive product has entered the market. However, because an IPO of at least $10,000,000 was consummated prior to December 31, 2015, the royalty was reduced to 2% of annual net sales of its prescription products derived from Croton lechleri and 1% of net sales of its nonprescription products derived from Croton lechleri and no milestone payment will be due and no royalties will be owed on any additional products developed. The Company incurred $39,734 in royalties for the year ended December 31, 2015, and is included in general and administrative expense in the Company's statement of operations and comprehensive loss. The Company's unpaid royalties total $2,810 at December 31, 2015, which is included in accrued liabilities in the Company's balance sheet. In addition to receiving a License Agreement to Napo's intellectual property and technology, the License also transferred to the Company certain materials and equipment. Materials transferred from Napo have been included in research and development expense on the statements of operations and comprehensive loss during the year ended December 31, 2014. Equipment of $811,087 related to the License is included in property and equipment on the Company's balance sheet at December 31, 2015 at the cost paid by Napo, which approximates fair value. As of December 31, 2015, the certain equipment has been placed into service, and the Company has booked $4,379 in depreciation expense for the year ended December 31, 2015, which is included in research and development expense in the Company's statement of operations and comprehensive loss. The Company has agreed under the License Agreement to defend, indemnify and hold Napo, its affiliates, and the officers, directors, employees, consultants and contractors of Napo harmless from and against any losses, costs, damages, liabilities, fees and expenses arising out of any third-party claim related to the Company's gross negligence, breach of covenants or the manufacture, sale or use of the product or products. In January 2015, the License Agreement was amended to decrease the one-time non-refundable license fee payable from $2,000,000 to $1,750,000 in exchange for acceleration of the payment of the fee. In 2015, payments totalling $1.2 million were made, with the balance of $425,000 due March 31, 2016, which is included in License Fee Payable on the Company's balance sheet. Additionally, the terms of the License Agreement were amended to require the mutual agreement of the parties for payment of the license fee to be remitted in the form of the Company's common stock. The Company may also, at its sole discretion, elect to remit any milestone payments and/or royalties in the form of the Company's common stock. Given that Napo is a significant shareholder of the Company, the abatement of the license fee amount has been recorded as a capital contribution in the accompanying condensed financial statements.

Balance Sheet Components

12 Months Ended

Dec. 31, 2015

Balance Sheet Components

Balance Sheet Components

6. Balance Sheet Components

Property and Equipment

Property and equipment at December 31, 2015 and 2014 consisted of the following:

	December 31, 2015			December 31, 2014
Lab equipment		811,087			872,523
Clinical equipment		23,300			—

Total property and equipment at cost		834,387			872,523
Accumulated depreciation		(5,155	)		—

Property and equipment, net		829,232			872,523

Depreciation and amortization expense was $5,155 in the year ended December 31, 2015 and was recorded in research and development expense in the statements of operations and comprehensive loss.

The Company expensed $6,287 of materials cost in connection with license activity in 2015.

Accrued Expenses

Accrued expenses at December 31, 2015 and 2014 consist of the following:

	December 31, 2015		December 31, 2014
Accrued compensation and related:
Accrued vacation		187,734		140,408
Accrued payroll		80,692		53,090
Accrued payroll tax		43,702		30,744

		312,128		224,242
Accrued legal costs		—		738,600
Accrued printing		—		275,000
Accrued interest		127,149		29,292
Accrued contract manufacturing costs		110,141		—
Accrued clinical		166,750		25,000
Accrued other		82,266		25,857

Total		798,434		1,317,991

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies

Commitments and Contingencies

7. Commitments and Contingencies

Operating Leases

Effective July 1, 2015, the Company leases its San Francisco, California headquarters under a non-cancelable sub-lease agreement that expires August 31, 2018. The Company provided cash deposits of $122,163, consisting of a security deposit of $29,539 and prepayment of the last three months of the lease of $92,623, which is identified as other assets on the Company's balance sheet.

Future minimum lease payments under non-cancelable operating leases as of December 31, 2015 are as follows:

	Amount
Years ending December 31,
2016		357,478
2017		363,486
2018		245,327

Total minimum lease payments		966,291

The Company recognizes rent expense on a straight-line basis over the non-cancelable lease period. Rent expense under the non-cancelable operating lease was $180,557 for the year ended December 31, 2015, which was included in general and administrative expense in the Company's statement of operations and comprehensive loss.

Since March 1, 2014, the date the Service Agreement terminated (Note 4), the Company paid Napo $33,897 for rent related to the office space utilized by the Company for the months of March, April and May of 2014. Effective June 1, 2014, the Company assumed the existing sublease from Napo. The term of the assumed sublease was from June 1, 2014 through June 30, 2015. Rent expense under the sub-lease was $69,580 and $80,816 for the years ended December 31, 2015 and 2014, respectively, which was included in general and administrative expense in the Company's statement of operations and comprehensive loss.

Contract Manufacturing Commitment

Effective June 26, 2014 the Company entered into a technology transfer and commercial manufacturing agreement (the "Transfer Agreement") with a contract manufacturer in Italy (the "Manufacturer"), whereby the Company and the Manufacturer will cooperate to develop and refine the manufacturing process for the Company's prescription and non-prescription products. Pursuant to the Transfer Agreement, the Company was to make prepayments to the Manufacturer as follows: (1) a start-up fee of €500,000, €250,000 of which was to be paid at the earlier to occur of September 15, 2014 or the closing date of an initial public offering and €250,000 of which was to be paid at the time of installation and qualification of the Company's equipment at their facility, (2) related to the technology transfer, €620,000, €310,000 of which was paid subsequent to the signature of the Transfer Agreement and €310,000 of which was to be paid after the delivery of a final study report, (3) for design of a portion of the Manufacturer's facility, €100,000 was to be paid within five days of the signature of the Transfer Agreement, and (4) a €300,000 bonus fee payable in two equal installments, the first of which is due by the end of March 2015, with the remainder paid by the end of December 2015. The first €150,000 of the bonus fee payable was paid in May 2015. Additionally, the Transfer Agreement stipulated that the Company was to pay the Manufacturer an aggregate of €500,000 upon the delivery of agreed-upon levels of satisfactory product. Further, the Company issued the Manufacturer warrants to purchase 16,666 shares of common stock with an exercise price of 90% of the initial public offering price, amended to $6.30 in March 2015. (Note 8)

Effective February 12, 2015, March 25, 2015 and July 15, 2015 the Company entered into amendments delaying payments to the Manufacturer as follows: i) the €500,000 start-up fee was due by the end of April 2015 and has been paid during the year ended December 31, 2015, (ii) related to the technology transfer, of the remaining €310,000, €215,000 was due April 2015 and €95,000 was due June 30, 2015, both of which were paid during the year ended December 31, 2015, (iii) related to the design of a portion of the Manufacturer's facility, the payment has increased to €170,000, €150,000 of which was due at the end of April 2015 and €20,000 was due on June 30, 2015, both of which have been paid during the year ended December 31, 2015 (iv) the fees linked to the deliverables are now due €250,000 on December 31, 2015 and €250,000 on March 31, 2016, 2015, (v) the bonus fee payable of €300,000, €150,000 was due at the end of April 2015 and has been paid during the year ended December 31, 2015 and €150,000 due at December 31, 2015. In May 2015, the Company entered into a Memorandum of Understanding ("MOU") with the contract manufacturer and paid the start-up fee of €500,000 and the technology transfer fee of €215,000. In accordance with the terms of the Memorandum of Understanding, the Manufacturer will supply 400Kg of the Company's API at no cost in anticipation of the future deduction by December 2015.

In December 2015, we entered into an amendment to our technology transfer and commercial manufacturing agreement with our contract manufacturer in Italy delaying a €150,000 bonus fee payment which was originally due on December 31, 2015. This payment is now due on March 31, 2016.

The Company expenses the total cost of the contract ratably over the estimated life of the contract, or the total amount paid if greater. As of December 31, 2015, the amortized costs exceeded amounts paid by $110,141 and are included in accrued manufacturing costs in accrued liabilities in the Company's balance sheet.

Debt Obligations

See Note 8—Debt and Warrants.

Contingencies

From time to time, the Company may be involved in legal proceedings arising in the ordinary course of business. The Company believes there is no litigation pending that could have, individually or in the aggregate, a material adverse effect on the financial position, results of operations or cash flows.

Debt and Warrants

12 Months Ended

Dec. 31, 2015

Debt and warrants

Debt and Warrants

8. Debt and Warrants

Warrants Issued with the Preferred Stock

In February 2014, the Company closed its first equity round of financing and sold 2,224,991 shares of Series A convertible preferred stock at a price of $2.2472 per share. The pre-money valuation was in excess of $3.0 million setting the exercise price of the Warrants at 75% of the purchase price paid by the investors, or $2.5281 (as adjusted for the 1-for-1.5 reverse stock split approved in October 2014) per share. As such, the fair value of the Warrants, $6,895, was recorded as equity in February 2014. The Warrants were valued at $6,895 using the Black-Scholes model with the following assumptions: exercise price of $2.5281, term of five years, volatility of 64%, dividend yield of 0%, and risk-free interest rate of 1.82%. Based on the fair value of the Warrants, the Company used the residual value of the total proceeds from the issuance of the Notes and Warrants to record the Notes on the balance sheet as of issuance of the Notes. Thus, the amount recorded, in the aggregate, for the Notes on issuance was $518,105, net. The debt discount of $6,895 is recorded as interest expense over the five-year term of the Warrants.

Convertible Notes and Warrants

2013 Convertible Notes

From July through September 2013, the Company issued four convertible promissory notes (collectively the "Notes") for gross aggregate proceeds of $525,000 to various third-party lenders. The Notes bore interest at 8% per annum. The Notes automatically matured and the entire outstanding principal amount, together with accrued interest, was due and payable in cash at the earlier of July 8, 2015 (the "Maturity Date") or ten business days after the date of consummation of the initial closing of a first equity round of financing. The Company consummated a first equity round of financing prior to the Maturity Date with a pre-money valuation of greater than $3.0 million, and, accordingly, principal and accrued interest was converted into shares of common stock at 75% of the purchase price paid by such equity investors. These notes were all converted to common stock in February 2014 upon the issuance of the convertible preferred stock. In February 2014, in connection with the first equity round of financing and issuance of the Series A convertible preferred stock, the noteholders exercised their option to convert their Notes into 207,664 shares of common stock and accrued interest was paid in cash to the noteholders. The accreted interest expense related to the discount on the Notes was $1,443 for the period from January 1, 2014 to the conversion date of the Notes. Upon conversion, the entire remaining debt discount of $4,071 was recorded as interest expense.

In connection with the Notes, the Company issued to the noteholders warrants, which became exercisable to purchase an aggregate of 207,664 shares of common stock as of the issuance of the first equity round of financing (the "Warrants"). The Warrants are fully exercisable from the initial date of the first equity round of financing and have a five-year term subsequent to that date.

2014 Convertible Notes

On June 2, 2014, pursuant to a convertible note purchase agreement, the Company issued convertible promissory notes in the aggregate principal amount of $300,000 to two accredited investors, including a convertible promissory note for $200,000 to a board member to which Series A preferred stock was sold. These notes accrued interest at 3% per annum and automatically were to mature on June 1, 2015. Accrued interest was to be paid in cash upon maturity. Upon the closing of the IPO, the outstanding principal amount automatically converted into 53,571 shares common stock at $5.60, as amended in March 2015. Upon issuance, the Company analyzed the beneficial nature of the conversion terms and determined that a beneficial conversion feature ("BCF") existed because the effective conversion price on issuance of the notes was less than the fair value at the time of the issuance. The Company calculated the value of the BCF using the intrinsic method and recorded a BCF of $75,000 as a discount to the notes payable and to additional paid-in capital. For the year ended December 31, 2015 and 2014, the Company amortized $31,250 and $6,250, respectively, of the discount, which has also been recorded as interest expense.

On July 16, 2014, pursuant to a convertible note purchase agreement, the Company issued a convertible promissory note in the principal amount of $150,000 to an accredited investor. This note accrued interest at 3% per annum and automatically was to mature on June 1, 2015. Accrued interest was to be paid in cash upon maturity. Upon the closing of the IPO, the outstanding principal amount automatically converted into 26,785 shares of common stock at $5.60, as amended in March 2015. Upon issuance, the Company analyzed the beneficial nature of the conversion terms and determined that a BCF existed because the effective conversion price was less than the fair value at the time of the issuance. The Company calculated the value of the BCF using the intrinsic method and recorded a BCF of $37,500 as a discount to the notes payable and to additional paid-in capital. For the year ended December 31, 2015, the Company amortized $17,857 of the discount, which has also been recorded as interest expense.

In connection with the Transfer Agreement (Note 7) the Company issued fully vested and immediately exercisable warrants to the Manufacturer to purchase 16,666 shares of common stock at 90% of the IPO price, amended to $6.30 in March 2015, for a period of five years. The fair value of the warrants, $37,840, was recorded as research and development expense and additional paid-in capital in June 2014. The warrants were originally valued using the Black-Scholes model with the following assumptions: stock price of $4.83, exercise price of $4.35, term of five years, volatility of 49%, dividend yield of 0%, and risk-free interest rate of 1.64%.

On December 23, 2014, pursuant to a convertible note purchase agreement, the Company issued convertible promissory notes in the aggregate principal amount of $650,000 to three accredited investors, including a convertible promissory note for $250,000 to the same board member to which the June 2, 2014 $200,000 convertible promissory note was issued and to which Series A preferred stock was sold. These notes accrued interest at 12% per annum and became payable within thirty days following the IPO. Upon consummation of the Company's IPO, the noteholders converted the notes into 116,070 shares of common stock at a conversion price equal to 80% of the IPO price, amended to $5.60 in March 2015. In connection with these notes, the Company also issued the lenders a fully vested warrant to purchase shares of the Company's common stock at an exercise price equal to 80% of the IPO price, amended to $5.60 in March 2015. These warrants entitle the noteholders to purchase 58,035 shares of common stock. The fair value of the warrants, $147,943, was recorded as a debt discount and liability at December 23, 2014. The Company amortized the remaining $141,890 of this discount during the year ended December 31, 2015. The warrants were originally valued using the Black-Scholes model with the following assumptions: stock price of $4.59, exercise price of $4.15, term of three years, volatility of 49%, dividend yield of 0%, and risk-free interest rate of 1.10%. Based on the circumstances, the value derived using the Black-Scholes model approximated that which would be obtained using a lattice model. The debt discount was be recorded as interest expense over the one hundred ninety days from issuance of the notes through their first maturity date of July 31, 2015, beginning in January 2015. The Company analyzed the beneficial nature of the conversion terms and determined that a BCF existed because the effective conversion price was less than the fair value at the time of the issuance. The Company calculated the value of the BCF using the intrinsic method. A BCF of $502,057 has been recorded as a discount to the notes payable and to additional paid-in capital. For the year ended December 31, 2015, the Company amortized the remaining $484,326 of the BCF which has also been recorded as interest expense.

2015 Convertible Notes

In February 2015, the Company issued convertible promissory notes to two accredited investors in the aggregate principal amount of $250,000. These notes were issued pursuant to the convertible note purchase agreement dated December 23, 2014. Principal and interest of $103,912 was paid in May 2015 for $100,000 of these notes.

The Company's remaining outstanding note of $150,000 is payable to Serious Change II LP at an effective simple interest rate of 12% per annum, and is due in full on July 31, 2016. The note is included in notes payable in the Company's balance sheet. The Company has accrued interest of $15,879, which is included in accrued liabilities in the Company's balance sheet. The note remains outstanding as Serious Change II LP elected not to convert the note as per the terms of the agreement.

In March 2015, the Company entered into a non-binding letter of intent with Dechra Pharmaceuticals PLC ("Dechra"). In connection therewith, Dechra paid the Company $1.0 million. At March 31, 2015, the Company had recorded this amount as a loan advance on the balance sheet. In April 2015, Dechra purchased $1.0 million of convertible promissory notes from the Company, the terms of which provided that such notes were to be converted into shares of the Company's common stock upon the closing of an IPO at a conversion price of $5.60 per share. In connection with the purchase of the notes, the Company issued Dechra a warrant to purchase 89,285 shares at $5.60 per share, which expires December 31, 2017. The notes accrued simple interest of 12% per annum and, upon consummation of the Company's IPO in May 2015, converted into 178,571 shares of the Company's common stock. The Company analyzed the beneficial nature of the conversion terms and determined that a BCF existed because the effective conversion price was less than the fair value at the time of the issuance. The Company calculated the value of the BCF using the intrinsic method. A BCF of for the full face value was recorded as a discount to the notes payable and to additional paid-in capital. For the year ended December 31, 2015, the Company amortized the entire BCF of $1.0 million which has also been recorded as interest expense.

As of December 31, 2015 and 2014, the convertible notes payable obligations were as follows:

	December 31, 2015		December 31, 2014
Notes payable	$	150,000	$	1,100,000
Unamortized note discount		—		(675,326	)

Net debt obligation	$	150,000	$	424,674

Interest expense on the convertible notes payable was as follows:

	December 31, 2015		December 31, 2014
Nominal interest	$	70,619	$	9,292
Amortization of debt discount		1,925,326		87,174

	$	1,995,945	$	96,466

At December 31, 2015 and 2014, interest payable on convertible notes payable was $75,999 and $29,276, respectively.

Notes Payable—Bridge Loans

On October 30, 2014, the Company entered into a standby bridge financing agreement with two lenders, which was amended and restated on December 3, 2014, which provided a loan commitment in the aggregate principal amount of $1.0 million (the "Bridge"). Proceeds to the Company were net of a $100,000 debt discount under the terms of the Bridge and net of $104,000 of debt issuance costs. This debt discount and debt issuance costs were recorded as interest expense using the effective interest method, over the six month term of the Bridge. The Bridge became payable upon the IPO. The Bridge was repaid in May 2015, including interest thereon in an amount of $1,321,600. In connection with the Bridge, the lenders were granted warrants to purchase that number of shares of the Company's common stock determined by dividing $1.0 million by the exercise price of 80% of the IPO price, amended to $5.60 in March 2015. The fair value of the warrants, $505,348, was originally recorded as a debt discount and liability at December 3, 2014. The warrants were originally valued using the Black-Scholes model with the following assumptions: stock price of $5.01, exercise price of $5.23, term of five years, volatility of 63%, dividend yield of 0%, and risk-free interest rate of 1.61%. Based on the circumstances, the value derived using the Black-Scholes model approximated that which would be obtained using a lattice model. The debt discount was recorded as interest expense over the six month term of the Bridge. Of the aggregate debt discount of $605,348 (warrants and original $100,000 discount), $521,291 was recorded as interest expense during the year ended December 31, 2015. Additional financing costs of $104,000 were incurred related to the Bridge and deferred on closing. These are being recognized as interest expense over the six-month term of the Bridge using the effective interest method. During the year ended December, 2015, the remaining $86,667 of these deferred financing charges was recorded as interest expense.

As of December 31, 2015 and 2014, the notes payable obligation was as follows:

	December 31, 2015		December 31, 2014
Notes Payable	$	—	$	1,000,000
Unamortized note discount		—		(521,291	)
Debt issuance costs		—		(86,667	)

Net debt obligation	$	—	$	392,042

Interest expense on the notes payable-bridge loans was as follows:

	December 31, 2015		December 31, 2014
Nominal Interest	$	100,000	$	20,000
Amortization of debt discount		521,291		84,057
Repayment premium		201,600		—
Debt issuance costs		86,667		17,333

	$	909,558	$	121,390

Standby Line of Credit

In August 2014, the Company entered into a standby line of credit with an accredited investor for up to $1.0 million pursuant to a Line of Credit and Loan Agreement dated August 26, 2014. In connection with the entry into the standby line of credit, the Company issued the lender a fully vested warrant to purchase 33,333 shares of common stock at an exercise price equal to 80% of the IPO price, amended to $5.60 in March 2015, which expires in August 2016. The fair value of the warrants, $114,300, was recorded as interest expense and additional paid-in capital in August 2014. The warrants were originally valued using the Black-Scholes model with the following assumptions: stock price of $8.00, exercise price of $6.40, term of two years, volatility of 52%, dividend yield of 0%, and risk-free interest rate of 0.52%. The line of credit expired on March 31, 2015 and there have been no drawdowns under the facility.

Long-term Debt

In August 2015, the Company entered into a loan and security agreement with a lender for up to $8.0 million, which provided for an initial loan commitment of $6.0 million. The loan agreement requires the Company to maintain $4.5 million of the proceeds in cash, which may be reduced or eliminated on the achievement of certain milestones. An additional $2.0 million is available contingent on the achievement of certain further milestones. The agreement has a term of three years, with interest only payments through February 29, 2016. Thereafter, principal and interest payments will be made with an interest rate of 9.9%. Additionally, there will be a balloon payment of $560,000 on August 1, 2018. This amount is being recognized over the term of the loan agreement and the effective interest rate, considering the balloon payment, is 15.0%. Proceeds to the Company were net of a $134,433 debt discount under the terms of the loan agreement. This debt discount is being recorded as interest expense, using the interest method, over the term of the loan agreement. Under the agreement, the Company is entitled to prepay principal and accrued interest upon five days prior notice to the lender. In the event of prepayment, the Company is obligated to pay a prepayment charge. If such prepayment is made during any of the first twelve months of the loan agreement, the prepayment charge will be (a) during such time as the Company is required to maintain a minimum cash balance, 2% of the minimum cash balance amount plus 3% of the difference between the amount being prepaid and the minimum cash balance, and (b) after such time as the Company is no longer required to maintain a minimum cash balance, 3% of the amount being prepaid. If such prepayment is made during any time after the first twelve months of the loan agreement, 1% of the amount being prepaid.

As of December 31, 2015 and 2014, the net long-term debt obligation was as follows:

	December 31, 2015			December 31, 2014
Debt and unpaid accrued end-of-term payment	$	6,115,797		$	—
Unamortized note discount		(106,635	)		—
Unamortized debt issuance costs		(206,234	)		—

Net debt obligation	$	5,802,927		$	—


Current portion of long-term debt	$	1,707,899		$	—
Long-term debt, net of discount		4,095,028			—

Total	$	5,802,927		$	—

Future principal payments under the long-term debt are as follows:

	Amount
Years ending December 31,
2016	$	1,832,500
2017		2,409,780
2018		1,757,720

Total principal payments	$	6,000,000

The obligation at December 31, 2015 includes an end-of-term payment of $560,000, which accretes over the life of the loan as interest expense. As a result of the debt discount and the end-of-term payment, the effective interest rate for the loan differs from the contractual rate.

Interest expense on the long-term debt was as follows:

	December 31, 2015		December 31, 2014
Nominal interest	$	224,400	$	—
Amortization of debt discount		27,798		—
Accretion of end-of-term payment		115,797		—
Debt issuance costs		43,789		—

	$	411,784	$	—

At the IPO, the Company's outstanding warrants to purchase convertible preferred stock were all converted to warrants to purchase common stock.

The Company's warrant activity is summarized as follows:

	December 31, 2015		December 31, 2014
Warrants outstanding at January 1		494,267		207,664
Warrants issued		254,605		286,603

Warrants outstanding at December 31		748,872		494,267

Redeemable Convertible Preferred Stock

12 Months Ended

Dec. 31, 2015

Redeemable Convertible Preferred Stock

Redeemable Convertible Preferred Stock

9. Redeemable Convertible Preferred Stock

In February, April and May of 2014, the Company issued 3,015,902 shares of convertible preferred stock in exchange for $6,777,338. The redemption value of the convertible preferred stock was $9.0 million. The differences between the respective redemption values/liquidation preference and carrying values are being accreted over the period from the date of issuance to the earliest possible redemption date, February 2017. The Company has recorded accretion of $263,060 and $610,889 for the years ended December 31, 2015 and 2014, respectively.

Costs incurred in connection with the issuance of Series A redeemable convertible preferred stock (the "Preferred Stock") during the year ended December 31, 2014 were $119,097 which have been recorded as a reduction to the carrying amounts of Preferred Stock and are being accreted to the carrying value of the applicable preferred stock to the redemption date. The Company has recorded accretion of $83,314 and $35,784 for the years ended December 31, 2015 and 2014, respectively.

On May 18, 2015, the Company completed its IPO. In connection with the IPO, the Company's 3,015,902 outstanding shares of convertible preferred stock were automatically converted into 2,010,596 shares of common stock.

As of December 31, 2015 and 2014, Convertible Preferred Stock balances were comprised of:

	December 31, 2015		December 31, 2014
Preferred stock, net of issuance costs	$	—	$	6,658,241
Accretion of deemed dividend		—		610,889
Amortization of issuance costs		—		35,784

	$	—	$	7,304,914

Convertible Preferred Stock has been classified outside of stockholders' (deficit) in accordance with authoritative guidance for the classification and measurement of potentially redeemable securities.

The Preferred Stock was classified outside of stockholders' (deficit) in accordance with authoritative guidance for the classification and measurement of potentially redeemable securities.

Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity

Stockholders' Equity

10. Stockholders' Equity

Common Stock

The Company's second amended and restated certificate of incorporation authorizes the Company to issue 50,000,000 shares of common stock $0.0001 par value. The holders of common stock are entitled to one vote for each share of common stock held at all meetings of stockholders. The number of authorized shares of common stock may be increased or decreased by the affirmative vote of the holders of shares of capital stock of the Company representing a majority of the votes represented by all shares (including Preferred Stock) entitled to vote.

As of December 31, 2015, the Company had reserved shares of common stock for issuance as follows:

	December 31, 2015		December 31, 2014
Options issued and outstanding		919,506		659,554
Options available for grant		106,833		119,077
RSUs issued and outstanding		55,536		68,902
Warrants issued and outstanding		748,872		494,267

Total		1,830,747		1,341,800

Preferred Stock

The Company's second amended and restated certificate of incorporation authorizes the Company to issue 10,000,000 shares of preferred stock $0.0001 par value. No shares of preferred stock were issued or outstanding at December 31, 2015 or 2014.

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
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-Article 3

+ Details

Stock Incentive Plans

12 Months Ended

Dec. 31, 2015

Stock Incentive Plans

Stock Incentive Plans

11. Stock Incentive Plans

2013 Equity Incentive Plan

Effective November 1, 2013, the Company's board of directors and sole stockholder adopted the Jaguar Animal Health, Inc. 2013 Equity Incentive Plan (the "2013 Plan"). The 2013 Plan allows the Company's board of directors to grant stock options, restricted stock awards and restricted stock unit awards to employees, officers, directors and consultants of the Company. As of December 31, 2013, the

Company had reserved 300,000 shares of its common stock for issuance under the 2013 Plan. In April 2014, the board of directors amended the 2013 Plan to increase the shares reserved for issuance to 847,533 shares. Following the effective date of the IPO and after effectiveness of any grants under the 2013 Plan that were contingent on the IPO, no additional stock awards will be granted under the 2013 Plan. Outstanding grants continue to be exercisable, however any unissued shares under the plan and any forfeitures of outstanding options do not rollover to the 2014 Stock Incentive Plan.

2014 Stock Incentive Plan

Effective May 12, 2015, the Company adopted the Jaguar Animal Health, Inc. 2014 Stock Incentive Plan ("2014 Plan"). The 2014 Plan provides for the grant of options, restricted stock and restricted stock units to eligible employees, directors and consultants to purchase the Company's common stock. The Company reserved 333,333 shares of common stock for issuance pursuant to the 2014 Plan. The share reserve automatically increases January 1 of each fiscal year in the amount of 2% of the outstanding number of shares of the Company's common stock on December 31 of the preceding calendar year. The 2014 Plan replaces the 2013 Plan except that all outstanding options under the 2013 Plan remain outstanding until exercised, cancelled or until they expire.

In July 2015, the Company amended the 2014 Plan reserving an additional 550,000 shares under the plan contingent upon approval by the Company's stockholders at the next stockholders meeting.

Stock Options and Restricted Stock Units ("RSUs")

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

	Shares Available for Grant			Stock Options Outstanding			RSUs Outstanding			Weighted Average Stock Option Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
2013 Equity Incentive Plan Balance—December 31, 2013		300,000			—			—
Additional shares authorized		547,533			—			—
Options Granted		(753,110	)		753,110			—		$	2.65
Options Cancelled		93,556			(93,556	)		—		$	2.53
RSUs Granted		(79,297	)		—			79,297
RSUs Cancelled		10,395			—			(10,395	)

2013 Equity Incentive Plan Balance—December 31, 2014		119,077			659,554			68,902		$	2.67
Additional shares authorized		—
Options Granted		(176,364	)		176,364			—		$	7.00
Options Cancelled		95,784			(95,784	)		—		$	2.53
Options available for grant cancelled upon IPO		(51,863	)		—
Options Cancelled post-IPO not rolled back into the 2013 Plan		—			(42,128	)
Options Exercised		—			(5,000	)		—		$	2.53
RSUs Granted		(1,484	)		—			1,484
RSUs Cancelled		14,850			—			(14,850	)

2013 Equity Incentive Plan Balance—December 31, 2015		—			693,006			55,536		$	3.74
2014 Stock Stock Plan Balance—December 31, 2014		—
Shares Authorized		333,333
Options Granted		(241,500	)		241,500					$	4.32
Options Cancelled		15,000			(15,000	)				$	5.09

Combined Incentive Plan Balance—December 31, 2015		106,833			919,506			55,536		$	3.87		8.81	$	—


Options vested and exercisable—December 31, 2015					413,063					$	3.96		8.60	$	—


Options vested and expected to vest—December 31, 2015					776,470					$	3.83		8.81	$	—

The weighted average grant date fair value of stock options granted was $2.90 and $1.55 per share during the years ended December 31, 2015 and 2014.

The number of options vested was 413,063 at December 31, 2015. No options were vested at December 31, 2014. The grant date fair value of options vested was $893,974 at December 31, 2015.

There was no intrinsic value of options exercised in 2015 as the fair market value as of December 31, 2015 was $2.25 per share as reported by NASDAQ and the weighted average exercise price of the options exercised in 2015 was $2.53 per share. The intrinsic value is calculated as the difference between the market value as of December 31, 2015 and the weighted average exercise price of shares exercised.

The Company granted RSUs in 2014 and 2015 under the 2013 Equity Incentive Plan. The units granted vest upon the occurrence of both a liquidity event and satisfaction of the service-based requirement. The time-based vesting provides that 50% of the RSU will vest on January 1, 2016 and the remaining 50% vest on July 1, 2017. The Company began recording stock-based compensation expense relating to the RSU grants effective May 18, 2015, the date of the Company's initial public offering, and the date the liquidity condition was met. The stock-based compensation expense is based on the grant date fair value which is the equivalent to the fair market value on the date of grant, and is amortized over the vesting period using the straight-line method, net of estimated forfeitures.

Stock-Based Compensation

The following table summarizes stock-based compensation expense related to stock options and RSUs for the years ended December 31, 2015 and 2014, and are included in the statements of operations and comprehensive loss as follows:

	December 31, 2015		December 31, 2014
Research and development expense	$	472,145	$	70,796
Sales and marketing expense		54,115		—
General and administrative expense		465,905		93,360

Total	$	992,165	$	164,156

As of December 31, 2015, the Company had $850,758 of unrecognized stock-based compensation expense for options outstanding, which is expected to be recognized over a weighted-average period of 1.9 years. As of December 31, 2015, the Company had $105,077 of unrecognized stock-based compensation expense for outstanding RSUs which is expected to be recognized over a weighted-average period of 1.5 years.

The estimated grant-date fair value of employee stock options was calculated using the Black-Scholes option-pricing model, based on the following assumptions:

	December 31, 2015	December 31, 2014
Weighted-average volatility	55.43 - 61.51%		63	%
Weighted-average expected term (years)	5.15 - 5.82		5.81
Risk-free interest rate	1.60 - 1.84%		2	%
Expected dividend yield	—		—

The estimated grant-date fair value of non-employee stock options was calculated using the Black-Scholes option-pricing model, based on the following assumptions:

	December 31, 2015			December 31, 2014
Weighted-average volatility		76.63	%		—
Weighted-average expected term (years)		9.69			—
Risk-free interest rate		2.25	%		—
Expected dividend yield		—			—

Related Party Transactions

12 Months Ended

Dec. 31, 2015

Related Party Transactions

Related Party Transactions

12. Related Party Transactions

The Company is a majority-owned subsidiary of Napo. Additionally, Lisa A. Conte, Chief Executive Officer of the Company, is also the interim Chief Executive Officer of Napo Pharmaceuticals, Inc. The Company has total outstanding liabilities to Napo at December 31, 2015 and 2014 as follows:

	December 31, 2015			December 31, 2014
Due to (from) Napo	$	(6,008	)	$	16,581
Royalty payable to Napo		2,810			—
License Fee payable to Napo		425,000			1,875,000

Total	$	421,801		$	1,891,581

A member of the board of directors of the Company purchased 148,332 shares of the Company's preferred stock during the year ended December 31, 2014. The Company also issued a convertible promissory note for $200,000 to the same board member to whom the preferred stock was sold.

- 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

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2015

Net Loss Per Share Attributable to Common Stockholders

Net Loss Per Share Attributable to Common Stockholders

13. Net Loss Per Share Attributable to Common Stockholders

The following table presents the calculation of basic and diluted net loss per common share for the years ended December 31, 2015 and 2014:

	December 31, 2015			December 31, 2014
Net loss attributable to common shareholders	$	(16,637,924	)	$	(9,256,248	)


Shares used to compute net loss per common share, basic and diluted		6,153,139			2,854,417


Net loss per share attributable to common shareholders, basic and diluted	$	(2.70	)	$	(3.24	)

Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. The Company's potentially dilutive securities which include stock options, convertible preferred stock and common stock warrants have been excluded from the computation of diluted net loss per share as they would be anti-dilutive. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company's net loss position.

The following outstanding common stock equivalents have been excluded from diluted net loss per common share for the years ended December 31, 2015 and 2014 because their inclusion would be anti-dilutive:

	December 31, 2015		December 31, 2014
Convertible preferred stock		—		2,010,596
Options		919,506		659,554
Warrants to purchase common stock		748,872		494,267
Restricted stock units		55,536		68,902

Total		1,723,914		3,233,319

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Taxes

Income Taxes

14. Income Taxes

The Company had net comprehensive losses of $16,291,550 and $8,609,575 for the years ended December 31, 2015 and 2014, respectively.

Due to continued losses, and a full valuation allowance, the Company has not recorded a provision for income taxes for the years ended December 31, 2015 and 2014.

The components of the provision for income taxes during the years ended December 31, 2015 and 2014 is as follows:

	December 31, 2015			December 31, 2014
Current:
Federal	$	—		$	—
State		—			—
Foreign		—			—

Total Current		—			—

Deferred:
Federal		(4,197,007	)		(2,844,539	)
State		(587,696	)		(511,406	)
Foreign		—			—

Total Deferred		(4,784,703	)		(3,355,945	)
Valuation Allowance		4,784,703			3,355,945

Total Provision for Income Taxes	$	—		$	—

The Company's effective tax during the years ended December 31, 2015 and 2014, differed from the federal statutory rate as follows:

	December 31, 2015			December 31, 2014
Statutory Rate		(34.0	)%		(34.0	)%
State Taxes		(3.6	)%		(5.9	)%
Tax Credits		5.2	%		(0.8	)%
Other		1.7	%		2.2	%
Valuation Allowance		30.7	%		38.50	%

Effective Tax Rate		0.0	%		0.0	%

Net deferred tax assets as of December 31, 2015 and 2014 consist of the following:

	December 31, 2015			December 31, 2014
Non-current Deferred Tax Assets:
Net Operating Costs	$	7,459,489		$	3,610,478
Tax Credits		261,851			124,025
Other		734,611			(56,713	)

		8,455,951			3,677,790
Valuation Allowance		(8,455,951	)		(3,677,790	)

Net Non-current Deferred Tax Assets	$	—		$	—

A valuation allowance is provided when it is more likely than not that the deferred tax assets will not be realized. The Company has established a valuation allowance to offset net deferred tax assets as of December 31, 2015 and 2014, due to the uncertainty of realizing future tax benefits from its net operating loss carryforwards and other deferred tax assets.

The valuation allowance increased by $4,784,703 during the year ended December 31, 2015.

As of December 31, 2015, the Company had federal and California net operating loss carryovers of approximately $19,131,333 and $10,643,472, respectively. The federal and California net operating losses will begin to expire in 2033.

As of December 31, 2015, the Company had federal and California research credit carryovers of approximately $196,593 and $198,062, respectively. The federal research credits will begin to expire in 2033. The California research credits carry forward indefinitely.

The Tax Reform Act of 1986 limits the use of net operating loss and tax credit carryforward in certain situations where changes occur in the stock ownership of a company. The Company does not believe that the use of net operating loss and tax credit carryforwards were limited in prior years, nor as a consequence of the IPO. However, in the event the Company has a change in ownership in the future, as defined by the tax law, utilization of the carryforwards could be limited.

In November 2015, the FASB issued Accounting Standards Update 2015-17, which simplifies the presentation of deferred income taxes by requiring that deferred tax assets and liabilities be presented as non-current. The standard impacts presentation only. The Company elected to early adopt the standard on a retrospective basis effective December 31, 2015 and all deferred tax assets and liabilities are classified as non-current on the Company's consolidated balance sheets. Adoption of this ASU had no effect on the Company's balance sheet for 2015 or 2014 as presented.

Uncertain Tax Positions

The Company has adopted the provisions of ASC 740, "Income Taxes Related to Uncertain Tax Positions." Under these principals, tax positions are evaluated in a two-step process. The Company first determines whether it is more-likely-than-not that a tax positions will be sustained upon examination. If a tax position meets the more-likely-than-not recognition threshold it is then measured to determine the amount of benefit to be recognized in the financial statements. The tax position is measured as the largest amount of benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement.

The following is a reconciliation of the beginning and ending amount of our total gross unrecognized tax benefit liabilities for the years ended December 31, 2015 and 2014:

	December 31, 2015		December 31, 2014
Gross Unrecognized Tax Benefit—Beginning Balance	$	31,006	$	—
Increases Related to Tax Positions from Prior Years		5,920		—
Increases Related to Tax Positions Taken During the Current Year		42,004		31,006

Gross Unrecognized Tax Benefit—Beginning Balance	$	78,930	$	31,006

There are no liabilities from unrecognized tax benefits included in the Company's balance sheet as of December 31, 2015 and 2014, and therefore the Company has not accrued for any penalties or interest. The Company does not have any tax positions that are expected to significantly increase or decrease over the next 12 months.

The Company files income tax returns in the United States and California, where the statute of limitations are 3 years and 4 years, respectively. The Company remains open for audit by the United States Internal Revenue Service and California state tax jurisdictions since inception.

The Company is not currently under examination by income tax authorities in federal or state jurisdictions.

401(k) Plan	12 Months Ended
401(k) Plan	Dec. 31, 2015
401(k) Plan
401(k) Plan	15. 401(k) Plan The Company sponsors a 401(k) defined contribution plan covering all employees. There were no employer contributions to the plan in the years ended December 31, 2015 and 2014.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2015
Subsequent Events
Subsequent Events	16. Subsequent Events The Company completed an evaluation of the impact of subsequent events through March 31, 2016, the date these financial statements were issued. In February 2016, the Company completed an secondary public offering of its common stock. In connection with its secondary offering, the Company issued 2,000,000 shares of its common stock at a price to the public of $2.50 per share. As a result of the secondary offering, the Company received approximately $4.1 million in net proceeds, after deducting underwriting discounts and commissions of $373,000 and estimated offering expenses of $540,000.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2015
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company's management to make judgments, assumptions and estimates that affect the amounts reported in its financial statements and the accompanying notes. The accounting policies that reflect the Company's more significant estimates and judgments and that the Company believes are the most critical to aid in fully understanding and evaluating its reported financial results are valuation of stock options; valuation of warrant liabilities; impairment of long lived assets; useful lives for depreciation; valuation adjustments for excess and obsolete inventory; deferred taxes and valuation allowances on deferred tax assets; and evaluation and measurement of contingencies. Those estimates could change, and as a result, actual results could differ materially from those estimates.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs are costs incurred in filings of registration statements with the Securities and Exchange Commission. These deferred offering costs are offset against proceeds received upon the closing of the offerings. Deferred costs of $143,231 as of December 31, 2015 include legal, accounting and filing fees associated with the follow-on registration offering as more fully described in Note 16. Deferred costs of $2,480,049 as of December 31, 2014 include legal, accounting and filing fees associated with the Company's IPO, which closed on May 18, 2015.
Concentration of Credit Risk and Cash and Cash Equivalents	Concentration of Credit Risk and Cash and Cash Equivalents The financial instrument that potentially subjects the Company to a concentration of credit risk is that is held at a financial institution of high credit standing. Cash is generally in excess of Federal Deposit Insurance Corporation ("FDIC") insurance limits. Therefore, the Company is exposed to credit risk in the event that the balances exceed FDIC insurance limits. The carrying value of cash approximates fair value at December 31, 2015 and 2014.
Fair Values	Fair Values The Company's financial instruments include, cash and cash equivalents, accounts payable, accrued expenses, amounts due to Napo, the former parent, warrant liabilities, and debt. Cash is reported at fair value. The recorded carrying amount of accounts payable, accrued expenses and amounts due to Napo approximates their fair value due to their short-term nature. The carrying value of the interest-bearing debt approximates fair value based upon the borrowing rates currently available to the Company for bank loans with similar terms and maturities. See Note 3 for the fair value measurements, and Note 8 for the fair value of the Company's warrant liabilities.
Restricted Cash	Restricted Cash On August 18, 2015, the Company entered into a long-term loan and security agreement with a lender for up to $8,000,000, which provided for an initial loan commitment of $6,000,000. The loan agreement required the Company to maintain a base minimum cash balance of $4.5 million until the Company met certain milestones. On December 22, 2015, the Company achieved certain milestones and the base minimum cash balance was reduced to $3.0 million.
Inventories	Inventories Inventories are stated at the lower of cost or market. The Company calculates inventory valuation adjustments when conditions indicate that the net realizable value is less than cost due to physical deterioration, usage, obsolescence, reductions in estimated future demand or reduction in selling price. Inventory write-downs are measured as the difference between the cost of inventory and estimated net realizable value. There were no write-downs in either 2015 or 2014.
Property and Equipment	Property and Equipment Equipment is stated at cost, less accumulated depreciation. Equipment begins to be depreciated when it is placed into service. Depreciation will be calculated using the straight-line method over the estimated useful lives of 3 to 10 years. Expenditures for repairs and maintenance of assets are charged to expense as incurred. Costs of major additions and betterments are capitalized and depreciated on a straight-line basis over their estimated useful lives. Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts and any resulting gain or loss is included in income (loss) from operations.
Long-Lived Assets	Long-Lived Assets The Company regularly reviews the carrying value and estimated lives of all of its long-lived assets, including property and equipment to determine whether indicators of impairment may exist that warrant adjustments to carrying values or estimated useful lives. The determinants used for this evaluation include management's estimate of the asset's ability to generate positive income from operations and positive cash flow in future periods as well as the strategic significance of the assets to the Company's business objectives. Should an impairment exist, the impairment loss would be measured based on the excess of the carrying amount over the asset's fair value. The Company has not recognized any impairment losses through December 31, 2015.
Research and Development Expense	Research and Development Expense Research and development expense consists of expenses incurred in performing research and development activities including related salaries, clinical trial and related drug and non-drug product costs, contract services and other outside service expenses. Research and development expense is charged to operating expense in the period incurred.
Revenue Recognition	Revenue Recognition Sales to distributors are made under agreements that may provide distributor price adjustments and rights of return under certain circumstances. Until the Company develops sufficient sales history and pipeline visibility, revenue and costs of distributor sales will be deferred until products are sold by the distributor to the distributor's customers. Revenue recognition depends on notification either directly from the distributor that product has been sold to the distributor's customer, when the Company has access to the data. The Company will maintain controls to verify that the reported distributor and third party data is accurate. Deferred revenue on shipments to distributors will reflect the estimated effects of distributor price adjustments, if any, and the estimated amount of gross margin expected to be realized when the distributor sells through product purchased from the Company. Accounts receivable from distributors are recognized and included in deferred revenue when shipped to the distributor. Inventory is relieved and revenue recognized upon shipment by the distributor to their customer. The Company had no revenue for the year ended December 31, 2014 and $258,381 for the year ended December 31, 2015.
Stock-Based Compensation	Stock-Based Compensation The Company's 2013 Equity Incentive Plan and 2014 Stock Incentive Plan (see Note 11) provides for the grant of stock options, restricted stock and restricted stock unit awards. The Company measures stock awards granted to employees and directors at fair value on the date of grant and recognizes the corresponding compensation expense of the awards, net of estimated forfeitures, over the requisite service periods, which correspond to the vesting periods of the awards. The Company issues stock awards with only service-based vesting conditions, and records compensation expense for these awards using the straight-line method. The Company values its shares of common stock by taking into consideration its most recently available valuation of common stock performed by management and the board of directors, as well as additional factors that may have changed since the date of the most recent contemporaneous valuations through the date of grant.
Classification of Securities	Classification of Securities The Company applies the principles of ASC 480-10 "Distinguishing Liabilities from Equity" and ASC 815-40 "Derivatives and Hedging—Contracts in Entity's Own Equity" to determine whether financial instruments such as warrants, contingently issuable shares and shares subject to repurchase should be classified as liabilities or equity and whether beneficial conversion features exist.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the financial statements or in the Company's tax returns. Deferred taxes are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, that it is more likely than not that all or a portion of deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense. Potential for recovery of deferred tax assets is evaluated by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The Company accounts for uncertainty in income taxes recognized in the financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate, as well as the related net interest and penalties.
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as changes in stockholders' equity (deficit) exclusive of transactions with owners (such as capital contributions and distributions). For the years ending December 31, 2015 and 2014 there was no difference between net loss and comprehensive loss.
Segment Data	Segment Data The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company is an animal health company focused on developing and commercializing prescription and non-prescription products for companion and production animals.
Basic and Diluted Net Loss Per Common Share	Basic and Diluted Net Loss Per Common Share Basic net loss per common share is computed by dividing net loss attributable to common stockholders for the period by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders for the period by the weighted-average number of common shares, including potential dilutive shares of common stock assuming the dilutive effect of potential dilutive securities. For periods in which the Company reports a net loss, diluted net loss per common share is the same as basic net loss per common share, because their impact would be anti-dilutive to the calculation of net loss per common share. Diluted net loss per common share is the same as basic net loss per common share for the years ended December 31, 2015 and 2014.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842), which provides guidance for accounting for leases. Under ASU 2016-02, the Company will be required to recognize the assets and liabilities for the rights and obligations created by leased assets. ASU 2016-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. We are currently evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740), which simplifies the presentation of deferred income taxes. Under ASU 2015-17, deferred tax assets and liabilities are required to be classified as noncurrent, eliminating the prior requirement to separate deferred tax assets and liabilities into current and noncurrent. The new guidance is effective for the Company beginning on January 1, 2017, with early adoption permitted. The standard may be adopted prospectively or retrospectively to all periods presented. The Company is currently assessing the timing of adoption of the new guidance, but does not expect it will have a material impact on the Company's Consolidated Financial Statements. In April 2015, the FASB issued ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, to simplify the presentation of debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding debt liability. ASU 2015-03 will be effective for the Company beginning in its first quarter of 2016, however early adoption is permitted for financial statements that have not been previously issued. The guidance is to be applied retrospectively to all periods presented. We adopted ASU 2015-03 on December 31, 2015 and recognized unamortized debt issuance costs of $250,024 and $104,000 for the years ended December 31, 2015 and 2014, respectively, as a reduction to our long-term debt balance. In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements—Going Concern (Subtopic 205-40)—Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern", which provides guidance regarding management's responsibility to assess whether substantial doubt exists regarding the ability to continue as a going concern and to provide related footnote disclosures. In connection with preparing financial statements for each annual and interim reporting period, management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). This ASU is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company is currently evaluating the new guidance and has not determined the impact this standard may have on its financial statements. In June 2014, the FASB issued authoritative guidance which requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This guidance will be effective for annual periods (and interim periods within those annual periods) beginning after December 15, 2015. The Company will implement this guidance for all interim and annual periods beginning after December 15, 2015. The adoption of this guidance is not expected to have an impact on the Company's financial condition, results of operations or cash flows. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The objective of ASU 2014-19 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is effective for annual reporting periods beginning after December 15, 2016 and allows for prospective or retrospective application. The Company is evaluating the new guidance and has not determined the impact this pronouncement will have on its financial statements.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Measurements

Summary of information about the warrant liability that is measured at fair value on a recurring basis

	Level 1		Level 2		Level 3		Total
Fiscal Year 2014:
Warrant Liability	$	—	$	—	$	601,889	$	601,889

Summary of change in the estimated fair value of the warrant liability

	Beginning Value of Warrant Liability		Issuance of Common Stock Warrants		Change in Fair Value of Level 3 Liability			Conversion into Additional Paid-in Capital			Ending Fair Value of Level 3 Liability
For the year ended December 31, 2015	$	601,889	$	47,479	$	501,617		$	(1,150,985	)	$	—


For the year ended December 31, 2014	$	—	$	653,312	$	(51,423	)	$	—		$	601,889

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2015

Balance Sheet Components

Schedule of Property and Equipment

	December 31, 2015			December 31, 2014
Lab equipment		811,087			872,523
Clinical equipment		23,300			—

Total property and equipment at cost		834,387			872,523
Accumulated depreciation		(5,155	)		—

Property and equipment, net		829,232			872,523

Schedule of accrued expenses

	December 31, 2015		December 31, 2014
Accrued compensation and related:
Accrued vacation		187,734		140,408
Accrued payroll		80,692		53,090
Accrued payroll tax		43,702		30,744

		312,128		224,242
Accrued legal costs		—		738,600
Accrued printing		—		275,000
Accrued interest		127,149		29,292
Accrued contract manufacturing costs		110,141		—
Accrued clinical		166,750		25,000
Accrued other		82,266		25,857

Total		798,434		1,317,991

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

Leases, Operating [Abstract]

Schedule of future minimum payments for operating leases

	Amount
Years ending December 31,
2016		357,478
2017		363,486
2018		245,327

Total minimum lease payments		966,291

Debt and Warrants (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of net long-term debt obligation

	December 31, 2015			December 31, 2014
Debt and unpaid accrued end-of-term payment	$	6,115,797		$	—
Unamortized note discount		(106,635	)		—
Unamortized debt issuance costs		(206,234	)		—

Net debt obligation	$	5,802,927		$	—


Current portion of long-term debt	$	1,707,899		$	—
Long-term debt, net of discount		4,095,028			—

Total	$	5,802,927		$	—

Schedule of future annual principal payments under long-term debt

	Amount
Years ending December 31,
2016	$	1,832,500
2017		2,409,780
2018		1,757,720

Total principal payments	$	6,000,000

Schedule of interest expense on long-term debt

	December 31, 2015		December 31, 2014
Nominal interest	$	224,400	$	—
Amortization of debt discount		27,798		—
Accretion of end-of-term payment		115,797		—
Debt issuance costs		43,789		—

	$	411,784	$	—

Summary of warrant activity

	December 31, 2015		December 31, 2014
Warrants outstanding at January 1		494,267		207,664
Warrants issued		254,605		286,603

Warrants outstanding at December 31		748,872		494,267

Convertible notes payable

Schedule of short-term debt obligations

	December 31, 2015		December 31, 2014
Notes payable	$	150,000	$	1,100,000
Unamortized note discount		—		(675,326	)

Net debt obligation	$	150,000	$	424,674

Schedule of interest expense on short-term debt

	December 31, 2015		December 31, 2014
Nominal interest	$	70,619	$	9,292
Amortization of debt discount		1,925,326		87,174

	$	1,995,945	$	96,466

Standby bridge financing agreement

Schedule of short-term debt obligations

	December 31, 2015		December 31, 2014
Notes Payable	$	—	$	1,000,000
Unamortized note discount		—		(521,291	)
Debt issuance costs		—		(86,667	)

Net debt obligation	$	—	$	392,042

Schedule of interest expense on short-term debt

	December 31, 2015		December 31, 2014
Nominal Interest	$	100,000	$	20,000
Amortization of debt discount		521,291		84,057
Repayment premium		201,600		—
Debt issuance costs		86,667		17,333

	$	909,558	$	121,390

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Redeemable Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2015

Redeemable Convertible Preferred Stock

Summary of Series A redeemable convertible preferred stock

	December 31, 2015		December 31, 2014
Preferred stock, net of issuance costs	$	—	$	6,658,241
Accretion of deemed dividend		—		610,889
Amortization of issuance costs		—		35,784

	$	—	$	7,304,914

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Stockholders' Equity

Schedule of common reserved shares of common stock for issuance

	December 31, 2015		December 31, 2014
Options issued and outstanding		919,506		659,554
Options available for grant		106,833		119,077
RSUs issued and outstanding		55,536		68,902
Warrants issued and outstanding		748,872		494,267

Total		1,830,747		1,341,800

Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2015

Summary of incentive plan activity

	Shares Available for Grant			Stock Options Outstanding			RSUs Outstanding			Weighted Average Stock Option Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
2013 Equity Incentive Plan Balance—December 31, 2013		300,000			—			—
Additional shares authorized		547,533			—			—
Options Granted		(753,110	)		753,110			—		$	2.65
Options Cancelled		93,556			(93,556	)		—		$	2.53
RSUs Granted		(79,297	)		—			79,297
RSUs Cancelled		10,395			—			(10,395	)

2013 Equity Incentive Plan Balance—December 31, 2014		119,077			659,554			68,902		$	2.67
Additional shares authorized		—
Options Granted		(176,364	)		176,364			—		$	7.00
Options Cancelled		95,784			(95,784	)		—		$	2.53
Options available for grant cancelled upon IPO		(51,863	)		—
Options Cancelled post-IPO not rolled back into the 2013 Plan		—			(42,128	)
Options Exercised		—			(5,000	)		—		$	2.53
RSUs Granted		(1,484	)		—			1,484
RSUs Cancelled		14,850			—			(14,850	)

2013 Equity Incentive Plan Balance—December 31, 2015		—			693,006			55,536		$	3.74
2014 Stock Stock Plan Balance—December 31, 2014		—
Shares Authorized		333,333
Options Granted		(241,500	)		241,500					$	4.32
Options Cancelled		15,000			(15,000	)				$	5.09

Combined Incentive Plan Balance—December 31, 2015		106,833			919,506			55,536		$	3.87		8.81	$	—


Options vested and exercisable—December 31, 2015					413,063					$	3.96		8.60	$	—


Options vested and expected to vest—December 31, 2015					776,470					$	3.83		8.81	$	—

Summary of stock-based compensation expense

	December 31, 2015		December 31, 2014
Research and development expense	$	472,145	$	70,796
Sales and marketing expense		54,115		—
General and administrative expense		465,905		93,360

Total	$	992,165	$	164,156

Employee stock options

Schedule of estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model

	December 31, 2015	December 31, 2014
Weighted-average volatility	55.43 - 61.51%		63	%
Weighted-average expected term (years)	5.15 - 5.82		5.81
Risk-free interest rate	1.60 - 1.84%		2	%
Expected dividend yield	—		—

Non-employee stock options

Schedule of estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model

	December 31, 2015			December 31, 2014
Weighted-average volatility		76.63	%		—
Weighted-average expected term (years)		9.69			—
Risk-free interest rate		2.25	%		—
Expected dividend yield		—			—

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2015

Related Party Transactions

Schedule of total outstanding liabilities to Napo

	December 31, 2015			December 31, 2014
Due to (from) Napo	$	(6,008	)	$	16,581
Royalty payable to Napo		2,810			—
License Fee payable to Napo		425,000			1,875,000

Total	$	421,801		$	1,891,581

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2015

Net Loss Per Share Attributable to Common Stockholders

Schedule of calculation of basic and diluted net loss per common share

	December 31, 2015			December 31, 2014
Net loss attributable to common shareholders	$	(16,637,924	)	$	(9,256,248	)


Shares used to compute net loss per common share, basic and diluted		6,153,139			2,854,417


Net loss per share attributable to common shareholders, basic and diluted	$	(2.70	)	$	(3.24	)

Schedule of common stock equivalents excluded from the calculation of diluted net loss per common share

	December 31, 2015		December 31, 2014
Convertible preferred stock		—		2,010,596
Options		919,506		659,554
Warrants to purchase common stock		748,872		494,267
Restricted stock units		55,536		68,902

Total		1,723,914		3,233,319

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Schedule of components of the provision for income taxes

	December 31, 2015			December 31, 2014
Current:
Federal	$	—		$	—
State		—			—
Foreign		—			—

Total Current		—			—

Deferred:
Federal		(4,197,007	)		(2,844,539	)
State		(587,696	)		(511,406	)
Foreign		—			—

Total Deferred		(4,784,703	)		(3,355,945	)
Valuation Allowance		4,784,703			3,355,945

Total Provision for Income Taxes	$	—		$	—

Schedule of effective tax rate, differed from the federal statutory rate

	December 31, 2015			December 31, 2014
Statutory Rate		(34.0	)%		(34.0	)%
State Taxes		(3.6	)%		(5.9	)%
Tax Credits		5.2	%		(0.8	)%
Other		1.7	%		2.2	%
Valuation Allowance		30.7	%		38.50	%

Effective Tax Rate		0.0	%		0.0	%

Schedule of net deferred tax assets

	December 31, 2015			December 31, 2014
Non-current Deferred Tax Assets:
Net Operating Costs	$	7,459,489		$	3,610,478
Tax Credits		261,851			124,025
Other		734,611			(56,713	)

		8,455,951			3,677,790
Valuation Allowance		(8,455,951	)		(3,677,790	)

Net Non-current Deferred Tax Assets	$	—		$	—

Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits

	December 31, 2015		December 31, 2014
Gross Unrecognized Tax Benefit—Beginning Balance	$	31,006	$	—
Increases Related to Tax Positions from Prior Years		5,920		—
Increases Related to Tax Positions Taken During the Current Year		42,004		31,006

Gross Unrecognized Tax Benefit—Beginning Balance	$	78,930	$	31,006

Organization and Business (Details)					1 Months Ended	12 Months Ended
Organization and Business (Details)	May 18, 2015 USD ($) $ / shares shares	Oct. 27, 2014 shares	Jul. 01, 2013 shares	Jun. 11, 2013 shares	Oct. 31, 2014	Dec. 31, 2015 USD ($) segment shares	Dec. 31, 2014 USD ($) shares	Oct. 26, 2014 shares
Organization and business
Number of segments \| segment						1
General and administrative expense						$ 5,339,351	$ 4,095,324
Research and development expense						$ 6,475,851	$ 4,220,338
Reverse Stock Split
Common stock, shares authorized \| shares						50,000,000	15,000,000
Initial Public Offering
Net proceeds from initial public offering						$ 18,810,484
Liquidity
Accumulated deficit						$ (25,702,328)	$ (9,410,778)
IPO
Initial Public Offering
Underwriting discounts, commissions, and estimated offering expenses	$ 2,900,000
Non-cash offering expenses	3,300,000
Underwriters' over-allotment option
Initial Public Offering
Underwriting discounts, commissions, and estimated offering expenses	$ 1,200,000
Common Stock
Reverse Stock Split
Reverse stock split ratio		0.667			0.667
Common stock, shares authorized \| shares		15,000,000						10,000,000
Initial Public Offering
Shares issued (in shares) \| shares						2,860,000
Common Stock \| IPO
Initial Public Offering
Shares issued (in shares) \| shares	2,860,000
Shares issued (price per share) \| $ / shares	$ 7.00
Net proceeds from initial public offering	$ 15,900,000
Underwriting discounts, commissions, and estimated offering expenses						$ 2,897,825
Issuance of common stock upon conversion (in shares) \| shares	2,010,596
Common Stock \| Underwriters' over-allotment option
Initial Public Offering
Underwriting discounts, commissions, and estimated offering expenses						1,209,802
Service Agreement \| Napo
Organization and business
Number of shares issued in exchange for cash and services \| shares			2,666,666	2,666,666
General and administrative expense						114,858
Research and development expense						$ 28,764

Summary of Significant Accounting Policies (Details) - USD ($)		12 Months Ended
	Aug. 18, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 22, 2015
Deferred Financing Costs
Deferred Offering Costs		$ 143,231	$ 2,480,049
Restricted Cash
Maximum borrowing capacity	$ 8,000,000
Initial loan commitment	6,000,000
Proceeds required to be maintained in cash	$ 4,500,000	3,000,000		$ 3,000,000
Inventories
Inventory write-downs		0	0
Revenue Recognition
Revenues		258,381	0
Recent Accounting Pronouncements
Unamortized debt issuance costs		250,024	104,000
IPO
Deferred Financing Costs
Deferred Offering Costs			$ 2,480,049
Secondary public offering
Deferred Financing Costs
Deferred Offering Costs		$ 143,231
Equipment \| Minimum
Property and Equipment
Estimated useful lives		3 years
Equipment \| Maximum
Property and Equipment
Estimated useful lives		10 years

Fair Value Measurements (Details)	Dec. 31, 2014 USD ($)
Warrant liability	$ 601,889
Recurring
Warrant liability	601,889
Recurring \| Level 3
Warrant liability	$ 601,889

Fair Value Measurements (Details 2) - USD ($)	12 Months Ended
Fair Value Measurements (Details 2) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Change in the estimated fair value of the warrant liability
Beginning value of warrant liability	$ 601,889
Issuance of Common Warrants	47,479	$ 147,943
Change in Fair Value of Level 3 Liability	501,617	(51,423)
Conversion into Additional Paid-in Liability	1,202,521	614,557
Ending value of warrant liability		601,889
Assets measured at fair value on a recurring basis	0
Liabilities measured at fair value on a recurring basis	0
Recurring
Change in the estimated fair value of the warrant liability
Beginning value of warrant liability	601,889
Ending value of warrant liability		601,889
Level 3 \| Recurring
Change in the estimated fair value of the warrant liability
Beginning value of warrant liability	601,889
Issuance of Common Warrants	47,479	653,312
Change in Fair Value of Level 3 Liability	501,617	(51,423)
Conversion into Additional Paid-in Liability	$ (1,150,985)
Ending value of warrant liability		$ 601,889

Employee Leasing and Overhead Allocation Agreement (Details) - USD ($)			12 Months Ended
	Jul. 01, 2013	Jun. 11, 2013	Dec. 31, 2015	Dec. 31, 2014
Total operating expenses			$ 12,703,750	$ 8,315,662
General and administrative expense			5,339,351	4,095,324
Research and development expense			6,475,851	$ 4,220,338
Service Agreement \| Napo
Number of shares issued	2,666,666	2,666,666
General and administrative expense			114,858
Research and development expense			$ 28,764
Service Agreement \| Napo \| Monthly
Executive compensation expense per month	$ 38,938
Employee services expense per month	26,873
Overhead costs per month	6,000
Total operating expenses	$ 71,811

License Agreement (Details) - USD ($)		1 Months Ended			12 Months Ended
License Agreement (Details) - USD ($)	Mar. 31, 2016	Jan. 31, 2015	Jan. 31, 2014	Jul. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
License agreement
Property and equipment, net					$ 829,232	$ 872,523
Option Agreement \| Napo
License agreement
License fees paid				$ 100,000
Term of agreement				2 years
License Agreement \| Napo
License agreement
License fees paid					$ 1,200,000
Payment obligation of one-time non-refundable license fee		$ 1,750,000	$ 2,000,000
Option fee			100,000
Milestone payments due			$ 3,150,000
Royalty expiration term from the first sale of each individual product			10 years
Minimum proceeds from IPO prior to December 31, 2015, required for royalty reduction			$ 10,000,000
Milestone payments due in the event of minimum proceeds from IPO			0
License Agreement \| Napo \| Forecast
License agreement
License fees paid	$ 425,000
License Agreement \| Napo \| Products derived from Croton Lechleri
License agreement
Royalty rate for net sales below revenue base (as a percent)					8.00%
Net product sales upon which royalty rate increases			$ 30,000,000
Royalty rate for net sales above revenue base (as a percent)			10.00%
Royalties payments due in the event of minimum proceeds from IPO			$ 0
License Agreement \| Napo \| Prescription products derived from Croton Lechleri
License agreement
Royalty rate in the event of an IPO in excess of a specified amount			2.00%
License Agreement \| Napo \| Nonprescription products derived from Croton Lechleri
License agreement
Royalty rate in the event of an IPO in excess of a specified amount			1.00%
License Agreement \| Napo \| Pharmaceutical prescription products not derived from Croton Lechleri
License agreement
Royalty on annual net sales of products (as a percent)			2.00%
License Agreement \| Napo \| Nonprescription products not derived from Croton Lechleri
License agreement
Royalty on annual net sales of products (as a percent)			1.00%
License Agreement \| Napo \| Accrued Liabilities
License agreement
Unpaid royalties					$ 2,810
License Agreement \| Napo \| Property and equipment
License agreement
Property and equipment, net					811,087
License Agreement \| Napo \| General and administrative expense
License agreement
Royalties incurred					39,734
License Agreement \| Napo \| Research and development expense
License agreement
Depreciation expense					$ 4,379

Balance Sheet Components - Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 834,387	$ 872,523
Accumulated depreciation	(5,155)
Property and equipment, net	829,232	872,523
Depreciation and amortization expense	5,155
Cost of materials expensed in connection with license activity	6,287
Research and development expense
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	5,155
Lab Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	811,087	$ 872,523
Clinical Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 23,300

Balance Sheet Components - Accrued Expenses (Details 2) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Accrued compensation and related:
Accrued vacation	$ 187,734	$ 140,408
Accrued payroll	80,692	53,090
Accrued payroll tax	43,702	30,744
Total of accrued compensation and related	312,128	224,242
Accrued legal costs		738,600
Accrued printing		275,000
Accrued interest	127,149	29,292
Accrued contract manufacturing costs	110,141
Accrued clinical	166,750	25,000
Accrued other	82,266	25,857
Total	$ 798,434	$ 1,317,991

Commitments and Contingencies - Operating Leases (Details) - USD ($)		3 Months Ended	12 Months Ended
	Jul. 01, 2015	May 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies
Cash deposits under non-cancelable sub-lease agreement	$ 122,163
Security deposit under non-cancelable sub-lease agreement	29,539
Future minimum lease payments under non-cancellable operating leases
2016			$ 357,478
2017			363,486
2018			245,327
Total minimum lease payments			966,291
Other assets
Commitments and Contingencies
Prepayment of last three months lease payments	$ 92,623
Accrued liabilities
Commitments and Contingencies
Contract amortization costs included in accrued liabilities			110,141
Napo
Commitments and Contingencies
Rent related to the office space		$ 33,897	69,580	$ 80,816
General and administrative expense
Commitments and Contingencies
Rent expense under non-cancelable operating lease			$ 180,557

Commitments and Contingencies - Contract Manufacturing Commitment (Details)			1 Months Ended	12 Months Ended
	Dec. 31, 2015 EUR (€)	Jun. 26, 2014 EUR (€) item shares	May 31, 2015 EUR (€)	Dec. 31, 2015 EUR (€) item	Mar. 31, 2016 EUR (€)	Jun. 30, 2015 EUR (€)	Mar. 31, 2015 $ / shares	Mar. 25, 2015 EUR (€)	Oct. 30, 2014
Commitments and Contingencies
Exercise price as a percentage of initial public offering price									80.00%
Transfer Agreement \| Manufacturer
Commitments and Contingencies
Remaining balance due related to prepayment of technology transfer								€ 310,000
Prepayment of start-up fee	€ 500,000	€ 500,000	€ 500,000	€ 500,000
Prepayment of start-up fee which is to be paid at the earlier to occur of September 15, 2014 or the closing date of an initial public offering		250,000
Prepayment of start-up fee which is to be paid at the time of installation and qualification of the Company's equipment		250,000
Prepayment related to technology transfer		620,000	215,000
Prepayment related to technology transfer which is to be paid within five days of the signature of the Transfer Agreement		310,000
Prepayment related to technology transfer which is to be paid after the delivery of a final study report		310,000
Prepayment for design of a portion of the Manufacturer's facility which is to be paid within five days of the signature of the Transfer Agreement		€ 100,000
Period within which prepayment for design of a portion of the Manufacturer's facility is payable from signature of the Transfer Agreement		5 days
Bonus fee payable	150,000	€ 300,000		150,000
Number of installments \| item		2
Bonus fee paid	150,000		€ 150,000	150,000
Aggregate amount payable to Manufacturer upon the delivery of agreed-upon levels of satisfactory product pursuant to the agreement	€ 250,000	€ 500,000		€ 250,000
Number of warrants issued to purchase shares of common stock (in shares) \| shares		16,666
Exercise price as a percentage of initial public offering price		90.00%
Exercise price (in dollars per share) \| $ / shares							$ 6.30
Increase in prepayment for design of portion of manufacturer facility payable within specified days of signature of agreement								170,000
Transfer Agreement \| Manufacturer \| Forecast
Commitments and Contingencies
Aggregate amount payable to Manufacturer upon the delivery of agreed-upon levels of satisfactory product pursuant to the agreement					€ 250,000
Transfer Agreement \| API
Commitments and Contingencies
Amount of product supplied at no cost (in Kg) \| item				400
Amendment to Transfer Agreement first portion due \| Manufacturer
Commitments and Contingencies
Prepayment related to technology transfer								€ 215,000
Payments related to design of a portion of manufacturing facility				€ 150,000
Amendment to Transfer Agreement second portion due \| Manufacturer
Commitments and Contingencies
Prepayment related to technology transfer						€ 95,000
Payments related to design of a portion of manufacturing facility				€ 20,000

Debt and Warrants (Details)													1 Months Ended								2 Months Ended	3 Months Ended	12 Months Ended
Debt and Warrants (Details)	Aug. 01, 2018 USD ($)	Aug. 18, 2015 USD ($)	Aug. 15, 2015 USD ($)	Jun. 02, 2015 shares	Dec. 23, 2014 USD ($) item $ / shares shares	Dec. 03, 2014 USD ($) $ / shares	Oct. 31, 2014	Oct. 30, 2014 USD ($) item	Jul. 16, 2014 USD ($) $ / shares shares	Jun. 26, 2014 USD ($) $ / shares shares	Jun. 26, 2014 USD ($) $ / shares shares	Jun. 02, 2014 USD ($) item $ / shares	Aug. 31, 2015 USD ($)	May 31, 2015 USD ($) shares	Apr. 30, 2015 $ / shares shares	Mar. 31, 2015 USD ($) $ / shares	Feb. 28, 2015 USD ($) item	Oct. 31, 2014	Aug. 31, 2014 USD ($) $ / shares shares	Feb. 28, 2014 USD ($) $ / shares shares	Feb. 28, 2014 USD ($) $ / shares shares	Sep. 30, 2013 USD ($) item shares	Dec. 31, 2015 USD ($) shares	Dec. 31, 2014 USD ($) shares	Mar. 01, 2016	Dec. 22, 2015 USD ($)	Jun. 30, 2015 $ / shares
Debt, Convertible Promissory Notes and Common Stock Warrants
Fair value of warrants																			$ 114,300
Net amount of Notes																							$ 150,000	$ 424,674
Gross aggregate proceeds																							1,250,000	1,100,000
Number of shares issued for notes converted \| shares														178,571
Exercise price as a percentage of initial public offering price								80.00%
Interest Paid																							173,250
Stand-by line of credit		$ 8,000,000
Initial loan commitment		6,000,000
Proceeds required to be maintained in cash		$ 4,500,000																					3,000,000			$ 3,000,000
Short-term debt
Net debt obligation																							150,000	424,674
Interest payable on convertible notes payable																							127,149	29,292
Future principal payments of debt
2016																							1,832,500
2017																							2,409,780
2018																							1,757,720
Total																							6,000,000
Long-term debt
Unamortized debt issuance costs																							(250,024)	$ (104,000)
Total																							6,000,000
Current portion of long-term debt																							1,707,899
Long-term debt, net of discount																							$ 4,095,028
Warrant Activity
Warrants outstanding at beginning of period \| shares																					207,664		494,267	207,664
Warrants issued \| shares																							254,605	286,603
Warrants outstanding at end of period \| shares																							748,872	494,267
Transfer Agreement \| Manufacturer
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares																$ 6.30
Number of warrants issued to purchase shares of common stock (in shares) \| shares										16,666	16,666
Exercise price as a percentage of initial public offering price										90.00%	90.00%
Common Stock
Debt, Convertible Promissory Notes and Common Stock Warrants
Reverse stock split ratio																		0.667
Series A redeemable convertible preferred stock
Debt, Convertible Promissory Notes and Common Stock Warrants
Issuance of redeemable convertible preferred stock, net (in shares) \| shares																				2,224,991				3,015,902
Original issue price (in dollars per share) \| $ / shares																				$ 2.2472	$ 2.2472
Warrants to purchase common stock \| Transfer Agreement \| Manufacturer
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares																$ 6.30
Term											5 years
Warrants to purchase common stock \| Common Stock \| Transfer Agreement \| Manufacturer
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares										$ 4.35	$ 4.35
Fair value of warrants										$ 37,840	$ 37,840
Strike price (in dollars per share) \| $ / shares										$ 4.83	$ 4.83
Term										5 years
Volatility (as a percent)											49.00%
Dividend yield (as a percent)											0.00%
Risk-free interest rate (as a percent)											1.64%
Number of warrants issued to purchase shares of common stock (in shares) \| shares										16,666	16,666
Exercise price as a percentage of initial public offering price										90.00%	90.00%
Standby bridge financing agreement
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares						$ 5.23
Fair value of warrants						$ 505,348
Strike price (in dollars per share) \| $ / shares						$ 5.01
Term						5 years
Volatility (as a percent)						63.00%
Dividend yield (as a percent)						0.00%
Risk-free interest rate (as a percent)						1.61%
Net amount of Notes																								$ 392,042
Unamortized note discount								$ 605,348																521,291
Amortization of debt discount																							$ 521,291	84,057
Notes payable																								1,100,000
Number of lenders \| item								2
Aggregate principal amount of bridge financing						$ 1,000,000
Interest Paid														$ 1,321,600
Value to be divided by IPO exercise price to determine number of warrants granted																$ 1,000,000
Short-term debt
Notes payable																								1,100,000
Unamortized note discount								$ (605,348)																(521,291)
Net debt obligation																								392,042
Nominal interest																							100,000	20,000
Amortization of debt discount																							521,291	84,057
Repayment premium																							201,600
Debt issuance costs																							86,667	17,333
Debt issuance costs																								(86,667)
Total																							909,558	121,390
Long-term debt
Unamortized note discount								$ (605,348)																(521,291)
Nominal interest																							100,000	20,000
Amortization of debt discount																							521,291	84,057
Total																							909,558	121,390
Standby bridge financing agreement \| IPO
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares																$ 5.60
Standby bridge financing agreement \| Interest Expense.
Debt, Convertible Promissory Notes and Common Stock Warrants
Term							6 months	6 months
Unamortized note discount								$ 100,000
Amortization of debt discount																							521,291
Additional financing costs								104,000															86,667
Short-term debt
Unamortized note discount								(100,000)
Amortization of debt discount																							521,291
Debt issuance costs								104,000
Long-term debt
Unamortized note discount								$ (100,000)
Amortization of debt discount																							521,291
Convertible notes payable
Debt, Convertible Promissory Notes and Common Stock Warrants
Net amount of Notes																							150,000	424,674
Unamortized note discount																								675,326
Amortization of debt discount																							1,925,326	87,174
Notes payable																							150,000	1,100,000
Short-term debt
Notes payable																							150,000	1,100,000
Unamortized note discount																								(675,326)
Net debt obligation																							150,000	424,674
Nominal interest																							70,619	9,292
Amortization of debt discount																							1,925,326	87,174
Total																							1,995,945	96,466
Interest payable on convertible notes payable																							75,999	29,276
Long-term debt
Unamortized note discount																								(675,326)
Nominal interest																							70,619	9,292
Amortization of debt discount																							1,925,326	87,174
Total																							1,995,945	96,466
Convertible promissory notes
Debt, Convertible Promissory Notes and Common Stock Warrants
Net amount of Notes																				$ 518,105	$ 518,105
Number of convertible promissory notes issued \| item																	2					4
Gross aggregate proceeds																						$ 525,000
Interest rate (as a percent)																						8.00%
Number of business days after the date of consummation of the initial closing of a first equity round of financing, when the debt instrument is due																						10 days
Pre-money valuation threshold amount																						$ 3,000,000
Amortization of debt discount																				$ 4,071	1,443
Notes payable																	$ 250,000
Number of shares issued for notes converted \| shares																				207,664
Principal and interest paid on debt														103,912
Retirement of convertible promissory notes														$ 100,000
Short-term debt
Notes payable																	250,000
Net debt obligation																				$ 518,105	518,105
Amortization of debt discount																				4,071	1,443
Long-term debt
Amortization of debt discount																				4,071	1,443
Convertible promissory notes \| Interest Expense.
Debt, Convertible Promissory Notes and Common Stock Warrants
Unamortized note discount																				$ 6,895	6,895
Warrant term																				5 years
Amortization of debt discount																							1,000,000
Short-term debt
Unamortized note discount																				$ (6,895)	(6,895)
Amortization of debt discount																							1,000,000
Long-term debt
Unamortized note discount																				(6,895)	(6,895)
Amortization of debt discount																							1,000,000
Convertible promissory notes \| Dechra Pharmaceuticals PLC
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares															$ 5.60
Interest rate (as a percent)															12.00%
Number of warrants issued to purchase shares of common stock (in shares) \| shares															89,285
Notes payable																$ 1,000,000
Investment Warrants Expiration Date															Dec. 31, 2017
Short-term debt
Notes payable																$ 1,000,000
Convertible promissory notes \| Warrants to purchase common stock \| Common Stock
Debt, Convertible Promissory Notes and Common Stock Warrants
Minimum pre-money valuation amount																				$ 3,000,000	$ 3,000,000
Exercise price as a percentage of purchase price paid by equity investors																				75.00%
Exercise price (in dollars per share) \| $ / shares																				$ 2.5281	$ 2.5281
Fair value of warrants																				$ 6,895	$ 6,895
Strike price (in dollars per share) \| $ / shares																				$ 2.5281	$ 2.5281
Term																				5 years
Volatility (as a percent)																				64.00%
Dividend yield (as a percent)																				0.00%
Risk-free interest rate (as a percent)																				1.82%
Warrant term																						5 years
Exercise price as a percentage of purchase price paid by equity investors when pre-money valuation threshold amount is achieved																						75.00%
Number of warrants issued to purchase shares of common stock (in shares) \| shares																						207,664
Convertible promissary notes issued June 2, 2014
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares												$ 5.60
Interest rate (as a percent)												3.00%
Notes payable												$ 300,000
Number of Accredited Investors \| item												2
Aggregate principal amount issued to board member to which Series A preferred stock was sold												$ 200,000
Number of shares issued for notes converted \| shares				53,571
Beneficial conversion feature												75,000
Short-term debt
Notes payable												300,000
Convertible promissary notes issued June 2, 2014 \| Interest Expense.
Debt, Convertible Promissory Notes and Common Stock Warrants
Amortization of debt discount																							31,250	6,250
Short-term debt
Amortization of debt discount																							31,250	6,250
Long-term debt
Amortization of debt discount																							31,250	6,250
Convertible promissary note issued July 16, 2014
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares									$ 5.60
Interest rate (as a percent)									3.00%
Notes payable									$ 150,000
Number of shares issued for notes converted \| shares									26,785
Beneficial conversion feature									$ 37,500
Short-term debt
Notes payable									$ 150,000
Convertible promissary note issued July 16, 2014 \| Interest Expense.
Debt, Convertible Promissory Notes and Common Stock Warrants
Amortization of debt discount																							17,857
Short-term debt
Amortization of debt discount																							17,857
Long-term debt
Amortization of debt discount																							17,857
Convertible note purchase agreement
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares					$ 4.15											$ 5.60											$ 5.60
Fair value of warrants					$ 147,943
Strike price (in dollars per share) \| $ / shares					$ 4.59
Term					3 years
Volatility (as a percent)					49.00%
Dividend yield (as a percent)					0.00%
Risk-free interest rate (as a percent)					1.10%
Gross aggregate proceeds					$ 650,000
Interest rate (as a percent)					12.00%
Number of warrants issued to purchase shares of common stock (in shares) \| shares					58,035
Amortization of debt discount																							141,890
Number of Accredited Investors \| item					3
Aggregate principal amount issued to board member to which Series A preferred stock was sold					$ 250,000							$ 200,000
Beneficial conversion feature					$ 502,057
Short-term debt
Amortization of debt discount																							141,890
Long-term debt
Amortization of debt discount																							141,890
Convertible note purchase agreement \| IPO
Debt, Convertible Promissory Notes and Common Stock Warrants
Strike price (in dollars per share) \| $ / shares															$ 5.60
Number of shares issued for notes converted \| shares					116,070
Exercise price as a percentage of initial public offering price					80.00%				5.60%
Convertible note purchase agreement \| Interest Expense.
Debt, Convertible Promissory Notes and Common Stock Warrants
Amortization of debt discount																								6,250
Beneficial conversion feature																							484,326
Short-term debt
Amortization of debt discount																								6,250
Long-term debt
Amortization of debt discount																								$ 6,250
Line of credit and loan agreement
Debt, Convertible Promissory Notes and Common Stock Warrants
Exercise price (in dollars per share) \| $ / shares																$ 5.60			$ 6.40
Strike price (in dollars per share) \| $ / shares																			$ 8.00
Term																			2 years
Volatility (as a percent)																			52.00%
Dividend yield (as a percent)																			0.00%
Risk-free interest rate (as a percent)																			0.52%
Number of warrants issued to purchase shares of common stock (in shares) \| shares																			33,333
Exercise price as a percentage of initial public offering price																			80.00%
Drawdown amount																$ 0
Line of credit and loan agreement \| Maximum
Debt, Convertible Promissory Notes and Common Stock Warrants
Stand-by line of credit																			$ 1,000,000
Loan and security agreement
Debt, Convertible Promissory Notes and Common Stock Warrants
Unamortized note discount													$ 134,433										106,635
Amortization of debt discount																							27,798
Stand-by line of credit													8,000,000
Initial loan commitment													6,000,000
Proceeds required to be maintained in cash													$ 4,500,000
Additional borrowing capacity contingent on achievement of milestones			$ 2,000,000
Term of agreement													3 years
Effective interest rate													15.00%
Prior notification period required for pre-payment of principal and accrued interest (in days)													5 days
Short-term debt
Unamortized note discount													$ (134,433)										(106,635)
Nominal interest																							224,400
Amortization of debt discount																							27,798
Deferred financing costs																							43,789
Total																							411,784
Future principal payments of debt
Total																							5,802,927
Long-term debt
Debt and unpaid accrued end-of-term payment																							6,115,797
Unamortized note discount													$ (134,433)										(106,635)
Unamortized debt issuance costs																							(206,234)
Total																							5,802,927
Current portion of long-term debt																							1,707,899
Long-term debt, net of discount																							4,095,028
Nominal interest																							224,400
Amortization of debt discount																							27,798
End-of-term payment																							560,000
Accretion of end-of-term payment																							115,797
Deferred financing costs																							43,789
Total																							411,784
Loan and security agreement \| Forecast
Debt, Convertible Promissory Notes and Common Stock Warrants
Balloon amount payable on August 1, 2018	$ 560,000
Loan and security agreement \| Forecast \| Subsequent event
Debt, Convertible Promissory Notes and Common Stock Warrants
Interest rate (as a percent)																									9.90%
Loan and security agreement \| Prepayment during the first twelve months member
Debt, Convertible Promissory Notes and Common Stock Warrants
Prepayment charge during first twelve months of loan when a minimum cash balance is required as a percent of minimum cash balance													2.00%
Prepayment charge during first twelve months of loan when a minimum cash balance is required as a percent of difference between amount being prepaid and minimum cash balance													3.00%
Prepayment charge during first twelve months of loan when no minimum cash balance is required as a percent of amount being prepaid													3.00%
Loan and security agreement \| Prepayment after the first twelve months member
Debt, Convertible Promissory Notes and Common Stock Warrants
Prepayment charge as a percent of amount being prepaid													1.00%
Convertible promissory note issued to Serious Change II LP
Debt, Convertible Promissory Notes and Common Stock Warrants
Gross aggregate proceeds																	$ 150,000
Interest rate (as a percent)																	12.00%
Convertible promissory note issued to Serious Change II LP \| Accrued liabilities
Short-term debt
Interest payable on convertible notes payable																							$ 15,879

Redeemable Convertible Preferred Stock (Details) - USD ($)		12 Months Ended
	May 18, 2015	Dec. 31, 2015	Dec. 31, 2014	Feb. 28, 2014
Redeemable Convertible Preferred Stock
Preferred shares issued			3,015,902
Liquidation preference		$ 0	$ 6,777,338
Redemption value			9,000,000
Issuance costs incurred		417,775	2,480,049
Accretion of deemed dividend		$ 263,060	$ 610,889
Common Stock \| IPO
Redeemable Convertible Preferred Stock
Issuance of common stock upon conversion (in shares)	2,010,596
Series A redeemable convertible preferred stock
Redeemable Convertible Preferred Stock
Preferred shares issued		0	3,015,902
Issuance costs incurred			$ 119,097
Preferred shares outstanding		0	3,015,902
Preferred Stock, net of issuance costs			$ 6,658,241
Accretion of deemed dividend		$ 263,060	610,889
Accretion of issuance costs		83,314	35,784
Total		$ 0	$ 7,304,914
Original issue price (in dollars per share)				$ 2.2472

Stockholders' Equity (Details)	12 Months Ended
Stockholders' Equity (Details)	Dec. 31, 2015 item $ / shares shares	Dec. 31, 2014 $ / shares shares
Stockholders' Equity
Common stock, shares authorized	50,000,000	15,000,000
Common stock par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001
Number of voting rights entitled for each share of common stock held \| item	1
Shares of common stock reserved for issuance
Options issued and outstanding	919,506	659,554
Options available for grant	106,833	119,077
RSUs issued and outstanding	55,536	68,902
Warrants issued and outstanding	748,872	494,267
Total	1,830,747	1,341,800
Preferred stock, shares authorized	10,000,000	0
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Stock Incentive Plans (Details) - USD ($)		1 Months Ended	12 Months Ended
Stock Incentive Plans (Details) - USD ($)	May 12, 2015	Jul. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Apr. 30, 2014
Shares Available for Grant
Beginning balance (in shares)			119,077
Ending balance (in shares)			106,833	119,077
Stock Options Outstanding
Beginning balance (in shares)			659,554
Ending balance (in shares)			919,506	659,554
RSUs Outstanding
Beginning balance (in shares)			68,902
Ending balance (in shares)			55,536	68,902
Options vested, exercisable and expected to vest
Options vested and exercisable (in shares)			413,063
Options vested and exercisable (in dollars per share)			$ 3.96
Options vested and exercisable (in years)			8 years 7 months 6 days
Options vested and expected to vest (in shares)			776,470
Options vested and expected to vest (in dollars per share)			$ 3.83
Options vested and expected to vest (in years)			8 years 9 months 22 days
Weighted average grant date fair value of stock options granted (in dollars per share)			$ 2.90	$ 1.55
Number of options vested (in shares)			413,063	0
Fair value of options vested on grant date			$ 893,974
Intrinsic value of options exercised			$ 0
Fair market value of options exercised (in dollars per share)			$ 2.25
2013 Plan
Stock Incentive Plans
Number of shares reserved for issuance				547,533
Shares Available for Grant
Beginning balance (in shares)			119,077	300,000
Shares Authorized (in shares)				547,533
Options available for grant cancelled upon IPO (in shares)			(51,863)
Ending balance (in shares)				119,077	300,000
Stock Options Outstanding
Beginning balance (in shares)			659,554
Options Granted (in shares)			176,364	753,110
Options Cancelled (in shares)			(95,784)	(93,556)
Options Cancelled post-IPO not rolled back into the 2013 Plan (in shares)			(42,128)
Options Exercised (in shares)			(5,000)
Ending balance (in shares)			693,006	659,554
RSUs Outstanding
Beginning balance (in shares)			68,902
RSUs Granted (in shares)			1,484	79,297
RSUs Cancelled (in shares)			(14,850)	(10,395)
Ending balance (in shares)			55,536	68,902
Weighted Average Stock Option Exercise Price
Beginning balance (in dollars per share)			$ 2.67
Options Granted (in dollars per share)			7.00	$ 2.65
Options Cancelled (in dollars per share)			2.53	2.53
Options Exercised (in dollars per share)			2.53
Ending balance (in dollars per share)			$ 3.74	$ 2.67
2013 Plan \| Stock options
Stock Incentive Plans
Number of shares reserved for issuance					300,000	847,533
Shares Available for Grant
Shares Authorized (in shares)					300,000	847,533
Stock Options Outstanding
Options Granted (in shares)					0
2014 Plan
Stock Incentive Plans
Number of shares reserved for issuance			333,333
Shares Available for Grant
Shares Authorized (in shares)			333,333
Ending balance (in shares)			106,833
Stock Options Outstanding
Options Granted (in shares)			241,500
Options Cancelled (in shares)			(15,000)
Ending balance (in shares)			919,506
RSUs Outstanding
Ending balance (in shares)			55,536
Weighted Average Stock Option Exercise Price
Options Granted (in dollars per share)			$ 4.32
Options Cancelled (in dollars per share)			5.09
Ending balance (in dollars per share)			$ 3.87
2014 Plan \| Stock options
Stock Incentive Plans
Number of shares reserved for issuance	333,333
Increase in share reserve based on outstanding number of shares (as a percent)	2.00%
Additional shares under plan contingent upon approval by stockholders at next stockholders meeting		550,000
Shares Available for Grant
Shares Authorized (in shares)	333,333

Stock Incentive Plans (Details 2) - Restricted stock units	12 Months Ended
	Dec. 31, 2015 USD ($)
Stock Incentive Plans
Unrecognized stock-based compensation expense	$ 105,077
2013 Plan
Stock Incentive Plans
Vesting (as a percent)	50.00%

Stock Incentive Plans (Details 3) - USD ($)	12 Months Ended
Stock Incentive Plans (Details 3) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Stock Incentive Plans
Total stock-based compensation expense	$ 992,165	$ 164,156
Research and development expense
Stock Incentive Plans
Total stock-based compensation expense	472,145	70,796
Selling and marketing expense
Stock Incentive Plans
Total stock-based compensation expense	54,115
General and administrative expense
Stock Incentive Plans
Total stock-based compensation expense	465,905	$ 93,360
Stock options
Stock Incentive Plans
Unrecognized stock-based compensation expense	$ 850,758
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average expected term (in years)	1 year 10 months 24 days
Employee stock options
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average volatility (as a percent)		63.00%
Weighted-average expected term (in years)		5 years 9 months 22 days
Risk-free interest rate (as a percent)		2.00%
Non-employee stock options
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average volatility (as a percent)	76.63%
Weighted-average expected term (in years)	9 years 8 months 9 days
Risk-free interest rate (as a percent)	2.25%
Restricted stock units
Stock Incentive Plans
Unrecognized stock-based compensation expense	$ 105,077
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average expected term (in years)	1 year 6 months
Maximum \| Employee stock options
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average volatility (as a percent)	61.51%
Weighted-average expected term (in years)	5 years 9 months 26 days
Risk-free interest rate (as a percent)	1.84%
Minimum \| Employee stock options
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average volatility (as a percent)	55.43%
Weighted-average expected term (in years)	5 years 1 month 24 days
Risk-free interest rate (as a percent)	1.60%

Related Party Transactions (Details) - USD ($)	12 Months Ended
Related Party Transactions (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2015
Napo
Outstanding liabilities
Due to/(from) Napo	$ 16,581	$ (6,008.00)
Royalty payable to Napo		2,810
License Fee payable to Napo	1,875,000	425,000
Total	$ 1,891,581	421,801.00
Member of the board of directors
Outstanding liabilities
Purchase of preferred stock by related parties	148,332
Outstanding receivables		$ 200,000

Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Calculation of basic and diluted net loss per common share
Net loss attributable to common stockholders	$ (16,637,924)	$ (9,256,248)
Shares used to compute net loss per common share, basic and diluted (in shares)	6,153,139	2,854,417
Net loss per share attributable to common shareholders, basic and diluted (in dollars per share)	$ (2.70)	$ (3.24)
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	1,723,914	3,233,319
Convertible preferred stock
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)		2,010,596
Options
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	919,506	659,554
Warrants to purchase common stock
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	748,872	494,267
Restricted stock units
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	55,536	68,902

Income Taxes (Details) - USD ($)	12 Months Ended
Income Taxes (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Income Taxes
Net loss and comprehensive loss	$ 16,291,550	$ 8,609,575
Deferred:
Federal	(4,197,007)	(2,844,539)
State	(587,696)	(511,406)
Total deferred	(4,784,703)	(3,355,945)
Less: valuation allowance	$ 4,784,703	$ 3,355,945
Effective tax rate, differed from the federal statutory rate
Statutory rate (as a percent)	(34.00%)	(34.00%)
State taxes (as a percent)	(3.60%)	(5.90%)
Tax credits (as a percent)	5.20%	(0.80%)
Other (as a percent)	1.70%	2.20%
Valuation allowance (as a percent)	30.70%	38.50%
Effective tax rate (as a percent)	0.00%	0.00%
Non-current deferred tax assets:
Net operating losses	$ 7,459,489	$ 3,610,478
Tax credits	261,851	124,025
Other	(734,611)	56,713
Gross non-current deferred tax assets	8,455,951	3,677,790
Valuation allowance	(8,455,951)	$ (3,677,790)
Increase in valuation allowance	$ 4,784,703

Income Taxes (Details 2) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Federal
Net operating loss carryovers
Net operating loss carryovers	$ 19,131,333
California
Net operating loss carryovers
Net operating loss carryovers		$ 10,643,472

Income Taxes (Details 3) - Research - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Federal
Tax credit carryovers
Tax credit carryovers	$ 196,593
California
Tax credit carryovers
Tax credit carryovers		$ 198,062

Income Taxes (Details 4) - USD ($)	12 Months Ended
Income Taxes (Details 4) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of the beginning and ending amounts of unrecognized tax benefits
Gross unrecognized tax benefit - beginning balance	$ 31,006
Increases related to tax positions from prior years	5,920
Increases related to tax positions taken during the current year	42,004	$ 31,006
Gross unrecognized tax benefit - ending balance	78,930	31,006
Liabilities from unrecognized tax benefits	$ 0	$ 0
Federal
Reconciliation of the beginning and ending amounts of unrecognized tax benefits
Statute of limitations regarding tax returns	3 years
California
Reconciliation of the beginning and ending amounts of unrecognized tax benefits
Statute of limitations regarding tax returns	4 years

401(k) Plan (Details) - USD ($)	12 Months Ended
401(k) Plan (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
401(k) Plan
Employer contributions to the plan	$ 0	$ 0

Subsequent Events (Details) - Subsequent event - Secondary public offering	1 Months Ended
	Feb. 29, 2016 USD ($) $ / shares shares
Secondary public offering
Stock Issued During Period, Shares, New Issues \| shares	2,000,000
Share Price \| $ / shares	$ 2.50
Net proceeds from issuance of common stock	$ 4,100,000
Underwriting discounts and commissions	373,000
Estimated offering expenses	$ 540,000