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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2017	Oct. 27, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Trading Symbol	NTLA
Entity Registrant Name	INTELLIA THERAPEUTICS, INC.
Entity Central Index Key	0001652130
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		36,085,816

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 222,264	$ 273,064
Accounts receivable	4,493	6,454
Prepaid expenses and other current assets	2,296	1,788
Total current assets	229,053	281,306
Property and equipment, net	13,560	10,628
Other assets	6,557	7,035
Total Assets	249,170	298,969
Current Liabilities:
Accounts payable	2,194	4,652
Accrued expenses	5,939	5,900
Current portion of deferred revenue	17,653	20,178
Total current liabilities	25,786	30,730
Deferred revenue, net of current portion	47,336	58,109
Other long-term liabilities	201	293
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.0001 par value; 120,000,000 shares authorized, 36,085,266 shares and 36,018,540 shares issued and outstanding, respectively	4	4
Additional paid-in capital	272,993	263,403
Accumulated deficit	(97,150)	(53,570)
Total stockholders' equity	175,847	209,837
Total Liabilities and Stockholders' Equity	$ 249,170	$ 298,969

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	36,085,266	36,018,540
Common stock, shares outstanding	36,085,266	36,018,540

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Collaboration revenue	$ 7,317	$ 4,869	$ 19,449	$ 10,852
Operating expenses:
Research and development	17,481	7,861	46,477	20,509
General and administrative	5,711	4,705	17,812	11,680
Total operating expenses	23,192	12,566	64,289	32,189
Operating loss	(15,875)	(7,697)	(44,840)	(21,337)
Interest income	519	215	1,260	266
Net loss	$ (15,356)	$ (7,482)	$ (43,580)	$ (21,071)
Net loss per share attributable to common stockholders, basic and diluted	$ (0.44)	$ (0.22)	$ (1.25)	$ (1.16)
Weighted average shares outstanding, basic and diluted	35,189	34,316	34,945	18,098

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (43,580)	$ (21,071)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	2,161	699
Loss on disposal of property and equipment	112	2
Equity-based compensation	8,726	4,700
Changes in operating assets and liabilities:
Accounts receivable	1,961	(112)
Prepaid expenses and other current assets	(508)	(162)
Accounts payable	(232)	154
Accrued expenses	302	1,741
Deferred revenue	(13,298)	67,260
Other assets	478	(2,675)
Other long-term liabilities	(92)	(17)
Net cash (used in) provided by operating activities	(43,970)	50,519
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(7,694)	(2,760)
Net cash used in investing activities	(7,694)	(2,760)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments to acquire in-process research and development		(600)
Payment of preferred unit and preferred stock issuance costs		(100)
Proceeds from options exercised	508
Issuance of shares through employee stock purchase plan	356
Proceeds from common stock offering		170,507
Payment of common stock offering costs		(2,764)
Net cash provided by financing activities	864	167,043
Net (decrease) increase in cash and cash equivalents	(50,800)	214,802
Cash and cash equivalents, beginning of period	273,064	75,816
Cash and cash equivalents, end of period	222,264	290,618
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Purchases of property and equipment unpaid at period end	$ 601	$ 944

Overview and Basis of Presentation

9 Months Ended

Sep. 30, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Overview and Basis of Presentation

1.	Overview and Basis of Presentation

Intellia Therapeutics, Inc. (collectively referred to with its wholly-owned, controlled subsidiary, Intellia Securities Corp., as “Intellia” or the “Company”) is a genome editing company focused on developing potentially curative therapeutics utilizing a biological tool known as CRISPR/Cas9.

The consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.”) have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

The unaudited consolidated financial statements include the accounts of Intellia Therapeutics, Inc. and its wholly-owned, controlled subsidiary. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the information furnished reflects all adjustments, all of which are of a normal and recurring nature, necessary for a fair presentation of the results for the reported interim periods. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The three months ended September 30, 2017 and 2016 are referred to as the third quarter of 2017 and 2016, respectively. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or any other interim period.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes existing revenue recognition guidance. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard defines a five-step process to achieve this principle and will require companies to use more judgment and make more estimates than under the current guidance. The Company expects that these judgments and estimates will include identifying performance obligations in the customer contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The new standard will be effective for the Company for annual and interim periods beginning after December 15, 2017. The Company continues to evaluate the impact that the adoption will have on its consolidated financial statements; however, the Company does not expect that adoption of this standard will have a material impact on the consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases. ASU 2016-02 amends ASC 840, Leases, by introducing a lessee model that requires balance sheet recognition of most leases. The Company is the lessee under certain leases that are accounted for as operating leases. The proposed changes would require that substantially all of the Company’s operating leases be recognized as assets and liabilities on the Company’s balance sheet. ASU 2016-02 will be effective for the Company for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. The Company is evaluating the impact that the adoption of ASU 2016-02 will have on its consolidated financial statements but expects that the Company will recognize a material lease obligation upon adoption in connection with the Company’s existing lease agreements.

Fair Value Measurements

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

3.	Fair Value Measurements

The Company classifies fair value based measurements using a three-level hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1, quoted market prices in active markets for identical assets or liabilities; Level 2, observable inputs other than quoted market prices included in Level 1, such as quoted market prices for 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 certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

The Company’s financial instruments as of September 30, 2017 and December 31, 2016 consisted primarily of cash and cash equivalents, accounts receivable and accounts payable. As of September 30, 2017 and December 31, 2016, the Company’s financial assets recognized at fair value on a recurring basis consisted of the following:

	Fair Value as of September 30, 2017
	Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents	$	206,657	$	206,657	$	—	$	—
Total	$	206,657	$	206,657	$	—	$	—

	Fair Value as of December 31, 2016
	Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents	$	270,448	$	270,448	$	—	$	—
Total	$	270,448	$	270,448	$	—	$	—

The Company values its cash equivalents at quoted market prices in active markets. Other financial instruments, including accounts receivable and accounts payable, are carried at cost, which approximate fair value due to the short duration and term to maturity.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accrued Expenses

9 Months Ended

Sep. 30, 2017

Payables And Accruals [Abstract]

Accrued Expenses

4.	Accrued Expenses

Accrued expenses consisted of the following:

	September 30,		December 31,
	2017		2016
	(In thousands)
Employee compensation and benefits	$	3,131	$	2,703
Research and development and professional expenses		2,808		3,197
Accrued expenses	$	5,939	$	5,900

Collaborations

9 Months Ended

Sep. 30, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Collaborations

5.	Collaborations

Novartis Institutes for BioMedical Research

In December 2014, the Company entered into a strategic collaboration agreement with Novartis Institutes for Biomedical Research, Inc. (“Novartis”) primarily focused on the development of new ex vivo CRISPR/Cas9-based therapies using chimeric antigen receptor T cells (“CAR-T cells”) and hematopoietic stem cells (“HSCs”).

Agreement Structure

Under the terms of the collaboration, the Company and Novartis may research potential therapeutic, prophylactic and palliative ex vivo applications of the CRISPR/Cas9 technology in HSCs and CAR-T cells. The Company and Novartis agreed to conduct research of HSC targets under a research plan agreed upon by both parties. Within the HSC therapeutic space, Novartis may obtain exclusive rights to a limited number of these HSC targets, to be selected by Novartis in a series of selection windows, the last of which closes 90 days before the fifth anniversary of the effective date of the collaboration agreement. The Company has the right to choose a limited number of HSC targets for its exclusive development and commercialization per the specified selection schedule. Following these selections by Novartis and the Company, Novartis may obtain rights to research an additional limited number of HSC targets on a non-exclusive basis. If Novartis does not exercise its selection rights within each selection window, any such rights will be deemed forfeited by Novartis. Novartis is required to use commercially reasonable efforts to research, develop and commercialize a specified number of HSC products directed to each of their selected HSC targets. The Company also agreed to collaborate with Novartis on research activities for CAR-T cell targets pursuant to a CAR-T cell program research plan approved by the CAR-T cell subcommittee of the collaboration’s joint steering committee. After completion of the activities contemplated by the CAR-T cell program research plan, Novartis will assume sole responsibility for developing any products arising from that research plan and will be responsible for additional costs and expenses of developing, manufacturing and commercializing its selected research targets. Novartis is required to use commercially reasonable efforts to research, develop or commercialize at least one CAR-T cell product directed to at least one of its selected CAR-T cell targets. In the last two years of the five-year collaboration term, Novartis will have the option to select a limited number of targets for research, development and commercialization of in vivo therapies using the Company’s CRISPR/Cas9 platform, on a non-exclusive basis. Following Novartis’ selection of each in vivo target, Novartis may offer the Company the right to participate in the research and development of such targets, in which case an in vivo program research plan for such target will be entered into between the Company and Novartis. Novartis is required to use commercially reasonable efforts to research, develop or commercialize at least one in vivo product directed to each of its selected targets. Novartis’ in vivo target selections are subject to certain restrictions, including that the targets, or all targets within a limited number of organs: (i) have not already been reserved by the Company pursuant to our limited right to do so under the agreement; (ii) are not the subject of a collaboration or pending collaboration with a third party; and (iii) are not the subject of ongoing or planned research and development by the Company.

The Company received an upfront technology access payment from Novartis of $10.0 million in January 2015 and is entitled to additional technology access fees of $20.0 million and quarterly research payments of $1.0 million, or up to $20.0 million in the aggregate, during the five-year research term. For each product under the collaboration, subject to certain conditions, the Company may be eligible to receive (i) up to $30.3 million in development milestones, including for the filing of an investigational new drug application and for the dosing of the first patient in each of Phase IIa, Phase IIb and Phase III clinical trials, (ii) up to $50.0 million in regulatory milestones for the product’s first indication, including regulatory approvals in the U.S. and European Union (“EU”), (iii) up to $50.0 million in regulatory milestones for the product’s second indication, if any, including U.S. and EU regulatory approvals, (iv) royalties on net sales in the mid-single digits, and (v) net sales milestone payments of up to $100.0 million. The Company may also be eligible to receive payments for: (i) each additional HSC target selected by Novartis beyond its initial defined allocation, (ii) each in vivo target that Novartis selects and (iii) any exercise by Novartis of certain license options under the agreement. Additionally, at the inception of the arrangement, Novartis invested $9.0 million to purchase the Company’s Class A-1 and Class A-2 Preferred Units. The difference between the cash proceeds received from Novartis for the units and the $11.6 million estimated fair value of those units at the date of issuance was determined to be $2.6 million. Accordingly, $2.6 million of the upfront technology access payment was allocated to record the preferred units purchased by Novartis at fair value.

Collaboration Revenue

Through September 30, 2017, excluding amounts allocated to Novartis’ purchase of the Company’s Class A-1 and Class A-2 Preferred Units, the Company had recorded a total of $28.4 million in cash and accounts receivable under the Novartis agreement. Through September 30, 2017, the Company has recognized $20.6 million of collaboration revenue, including $2.4 million and $6.8 million in the three and nine months ended September 30, 2017, respectively, and $2.0 million and $5.7 million in the three and nine months ended September 30, 2016, respectively, in the consolidated statements of operations related to this agreement. As of September 30, 2017 and December 31, 2016, the Company had accounts receivable of $1.0 million and $6.0 million, respectively, related to this agreement. As of September 30, 2017 and December 31, 2016, the Company had deferred revenue of $7.7 million and $11.6 million, respectively, related to this agreement.

Regeneron Pharmaceuticals, Inc.

In April 2016, the Company entered into a license and collaboration agreement with Regeneron Pharmaceuticals, Inc. (“Regeneron”). The agreement includes a product component to research, develop and commercialize CRISPR/Cas-based therapeutic products primarily focused on gene editing in the liver as well as a technology collaboration component, pursuant to which the Company and Regeneron will engage in research and development activities aimed at discovering and developing novel technologies and improvements to CRISPR/Cas technology to enhance the Company’s gene editing platform. Under this agreement, the Company also may access the Regeneron Genetics Center and proprietary mouse models to be provided by Regeneron for a limited number of the Company’s liver programs.

Agreement Structure

Under the terms of the collaboration, the Company and Regeneron have agreed to a target selection process, whereby Regeneron may obtain exclusive rights for up to 10 targets to be chosen by Regeneron during the collaboration term, subject to various adjustments and limitations set forth in the agreement. Of these 10 total targets, Regeneron may select up to five non-liver targets, while the remaining targets must be focused in the liver. At the inception of the agreement, Regeneron selected the first of its 10 targets, which will be subject to a co-development and co-commercialization arrangement between the Company and Regeneron.

The Company retains the exclusive right to solely develop products for certain indications. During the target selection process, the Company has the right to choose additional liver targets for its own development using commercially reasonable efforts. Certain targets that either the Company or Regeneron select may be subject to further co-development and co-commercialization arrangements at the Company’s or Regeneron’s option, as applicable, which either can exercise pursuant to defined conditions. In addition, subject to certain restrictions, Regeneron will be able to replace a limited number of targets with substitute targets upon the payment of a specified replacement fee, in which case exclusive rights to the replaced target revert to the Company. Regeneron’s target selections are subject to certain additional restrictions, including that non-liver targets are not the subject of ongoing or planned research and development by the Company or are not the subject of a collaboration or pending collaboration with a third party.

Research activities under the collaboration will be governed by evaluation and research and development plans that will outline the parties’ responsibilities under, anticipated timelines of and budgets for, the various programs. The Company will assist Regeneron with the preliminary evaluation of liver targets, and Regeneron will be responsible for preclinical research and the conduct of clinical development, manufacturing and commercialization of products directed to each of its exclusive targets under the oversight of a joint steering committee. The Company may assist, as requested by Regeneron, with the later discovery and research of product candidates directed to any selected target. For each selected target, Regeneron is required to use commercially reasonable efforts to submit regulatory filings necessary to achieve initial investigational new drug (“IND”) acceptance for at least one product directed to each applicable target, and following IND acceptance for at least one product, to develop and commercialize such product.

In connection with this collaboration, Regeneron agreed to purchase $50.0 million of the Company’s common stock in a private placement concurrent with the Company’s initial public offering, and the Company received a nonrefundable upfront payment of $75.0 million. In addition, the Company is eligible to earn, on a per-licensed target basis, (i) up to $25.0 million in development milestones, including for the dosing of the first patient in each of Phase I, Phase II and Phase III clinical trials, (ii) up to $110.0 million in regulatory milestones, including for the acceptance of a regulatory filing in the U.S., and U.S. and ex-U.S. regulatory approvals, and (iii) up to $185.0 million in sales-based milestone payments. The Company is also eligible to earn royalties ranging from the high single digits to low teens, in each case, on a per-product basis, which royalties are potentially subject to various reductions and offsets and are further subject to the Company’s existing low single-digit royalty obligations under a license agreement with Caribou Biosciences, Inc. (“Caribou”). In addition, Regeneron is obligated to fund 50.0% of the research and development costs for the transthyretin amyloidosis program, the first target selected by Regeneron, which will be subject to a co-development and co-commercialization arrangement between the Company and Regeneron.

The fixed portion of consideration under the collaboration arrangement was determined to be the $75.0 million nonrefundable upfront payment, for which there are no contingent terms. The significant deliverables of this multiple-element revenue arrangement were determined to be licenses to targets, the associated research activities and evaluation plans for these programs and the technology collaboration. The Company further determined that the licenses and associated research activities and evaluation plans did not have standalone value due to the specialized nature of the services to be provided by the Company; therefore, these deliverables are not separable, and, accordingly, the license and services are treated as a single unit of accounting. The Company additionally concluded that the technology collaboration has standalone value from the product development, as shared rights to technological advancements under the technology collaboration could be separately applied by Regeneron to other programs.

The Company allocated the $75.0 million in fixed consideration to the two units of accounting based on the estimated relative selling price of each deliverable. The Company estimated the selling price of each deliverable by taking into consideration internal estimates of research and development personnel needed to perform the research and development services, estimates of expected cash outflows to third parties for services and supplies, selling prices of comparable transactions and typical gross profit margins. As a result of this evaluation, the Company allocated $63.8 million to the licenses to targets and the associated research activities and evaluation plans and $11.2 million to the technology collaboration. The $63.8 million allocated to the licenses to targets and the associated research activities and evaluation plans for these programs is being recognized over the six-year performance period of the arrangement. The $11.2 million allocated to the technology collaboration is being recognized over a period beginning with the inception of the technology collaboration in September 2016, through the end of the arrangement.

Collaboration Revenue

Through September 30, 2017, the Company recorded a $75.0 million upfront payment and $3.6 million for research and development services under the Regeneron agreement. Through September 30, 2017, the Company recognized $21.3 million of collaboration revenue, including $4.9 million and $12.6 million in the three and nine months ended September 30, 2017, respectively, and $2.9 million and $5.2 million of collaboration revenue in the three and nine months ended September 30, 2016, respectively, in the consolidated statements of operations related to this agreement. As of September 30, 2017 and December 31, 2016, the Company had deferred revenue of $57.3 million and $66.7 million, respectively, and accounts receivable of $3.5 million and $0.5 million, respectively, related to this agreement.

Equity-Based Compensation

9 Months Ended

Sep. 30, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity-Based Compensation

6.	Equity-Based Compensation

Equity-based compensation expense is classified in the consolidated statements of operations as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(In thousands)
Research and development	$	1,987	$	1,235	$	5,048	$	2,926
General and administrative		1,260		820		3,678		1,774
Total	$	3,247	$	2,055	$	8,726	$	4,700

Restricted Stock

The following table summarizes the Company’s restricted stock activity for the nine months ended September 30, 2017:

	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested restricted stock as of January 1, 2017		1,361,855		$	0.81
Vested		(558,760	)		0.73
Cancelled		(37,451	)		1.34
Unvested restricted stock as of September 30, 2017		765,644		$	0.84

As of September 30, 2017, there was $4.1 million of unrecognized equity-based compensation expense related to restricted stock that is expected to vest. These costs are expected to be recognized over a weighted average remaining vesting period of 1.2 years.

Stock Options

The weighted average grant date fair value of options, estimated as of the grant date using the Black-Scholes option pricing model, was $13.45 per option and $10.73 per option for those options granted during the three and nine months ended September 30, 2017, respectively, and $14.91 per option and $6.42 per option for those options granted during the three and nine months ended September 30, 2016, respectively. Key assumptions used to apply this pricing model were as follows:

	Nine Months Ended September 30, 2017			Nine Months Ended September 30, 2016
Risk-free interest rate		1.9	%		1.3	%
Expected life of options	6.0 years			6.0 years
Expected volatility of underlying stock		93.0	%		88.0	%
Expected dividend yield		0.0	%		0.0	%

The following is a summary of stock option activity for the nine months ended September 30, 2017:

	Number of Options			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
						(In years)		(In thousands)
Outstanding at January 1, 2017		3,040,214		$	8.35
Granted		1,686,457			14.15
Exercised		(73,139	)		6.95
Forfeited		(232,308	)		13.02
Outstanding at September 30, 2017		4,421,224		$	10.34		8.6	$	64,194
Exercisable at September 30, 2017		1,146,551		$	8.08		7.9	$	19,236

As of September 30, 2017, there was $22.7 million of unrecognized compensation cost related to stock options that are expected to vest. These costs are expected to be recognized over a weighted average remaining vesting period of 2.6 years.

Loss Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Loss Per Share

7.	Loss Per Share

The Company calculates basic (loss) earnings per share by dividing (loss) income allocable to common stockholders by the weighted average number of common shares outstanding. The Company computes diluted (loss) earnings per share after giving consideration to the dilutive effect of stock options and unvested restricted stock that are outstanding during the period, except where such securities would be anti-dilutive.

Basic and diluted loss per share attributable to common stockholders was calculated as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
	(In thousands)
Net loss	$	(15,356	)	$	(7,482	)	$	(43,580	)	$	(21,071	)
Weighted average shares outstanding, basic and diluted		35,189			34,316			34,945			18,098
Net loss per share attributable to common stockholders, basic and diluted	$	(0.44	)	$	(0.22	)	$	(1.25	)	$	(1.16	)

In May 2016, the Company issued an additional 6,900,000 shares of common stock in connection with its initial public offering (“IPO”) and 23,481,956 shares of common stock in connection with the automatic conversion of its convertible preferred stock upon the closing of the IPO. In addition, the Company issued a total of 3,055,554 shares of common stock in two separate, concurrent private placements upon the closing of the IPO. The issuance of these shares resulted in a significant increase in the Company’s weighted average shares outstanding and will impact the year-over-year comparability of the Company’s (loss) earnings per share calculations into 2017.

The following common stock equivalents were excluded from the calculation of diluted loss per share because their inclusion would have been anti-dilutive:

	Periods Ended September 30,
	2017		2016
	(In thousands)
Unvested restricted stock		766		1,551
Stock options		4,421		3,029
Total		5,187		4,580

Related Party Transactions

9 Months Ended

Sep. 30, 2017

Related Party Transactions

8.	Related Party Transactions

In July 2014, the Company issued Caribou Therapeutics Holdco, LLC, a wholly-owned subsidiary of Caribou, 8,110,599 Junior Preferred Units. As a result of this and related transactions, Caribou owned 12.6% of the Company’s voting interests as of September 30, 2017.

The Company recognized research and development expense of $0.3 million and $1.1 million during the three and nine months ended September 30, 2016, respectively, related to license and service agreements entered into with Caribou. In addition, the Company recognized general and administrative expense of $0.8 million and $1.2 million during the three and nine months ended September 30, 2016, respectively, and $0.1 million and $0.6 million during the three and nine months ended September 30, 2017, respectively, related to the Company’s obligation to pay 30.0% of Caribou’s patent prosecution, filing and maintenance costs under its intellectual property license agreement with Caribou.

In connection with its entry into the collaboration and license agreement and related equity transactions with Novartis, the Company issued Novartis 4,761,905 Class A-1 Preferred Units and 2,666,666 Class A-2 Preferred Units. In August 2015, Novartis acquired 761,905 shares of the Company’s Series B Preferred Stock, and in May 2016, Novartis acquired 277,777 shares of the Company’s common stock in a private placement transaction concurrent with the Company’s IPO. As a result of these and subsequent transactions, Novartis collectively owned 15.7% of the Company’s voting interests as of September 30, 2017. Refer to Note 5, Collaborations, for additional information regarding this collaboration agreement.

The Company recognized collaboration revenue of $2.4 million and $6.8 million in the three and nine months ended September 30, 2017, respectively, and $2.0 million and $5.7 million in the three and nine months ended September 30, 2016, respectively, in the consolidated statements of operations related to this agreement. As of September 30, 2017 and December 31, 2016, the Company had recorded accounts receivable of $1.0 million and $6.0 million and deferred revenue of $7.7 million and $11.6 million, respectively, related to this collaboration.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2017
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes existing revenue recognition guidance. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard defines a five-step process to achieve this principle and will require companies to use more judgment and make more estimates than under the current guidance. The Company expects that these judgments and estimates will include identifying performance obligations in the customer contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The new standard will be effective for the Company for annual and interim periods beginning after December 15, 2017. The Company continues to evaluate the impact that the adoption will have on its consolidated financial statements; however, the Company does not expect that adoption of this standard will have a material impact on the consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases. ASU 2016-02 amends ASC 840, Leases, by introducing a lessee model that requires balance sheet recognition of most leases. The Company is the lessee under certain leases that are accounted for as operating leases. The proposed changes would require that substantially all of the Company’s operating leases be recognized as assets and liabilities on the Company’s balance sheet. ASU 2016-02 will be effective for the Company for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. The Company is evaluating the impact that the adoption of ASU 2016-02 will have on its consolidated financial statements but expects that the Company will recognize a material lease obligation upon adoption in connection with the Company’s existing lease agreements.

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Summary of Financial Assets Recognized at Fair Value on Recurring Basis

As of September 30, 2017 and December 31, 2016, the Company’s financial assets recognized at fair value on a recurring basis consisted of the following:

	Fair Value as of September 30, 2017
	Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents	$	206,657	$	206,657	$	—	$	—
Total	$	206,657	$	206,657	$	—	$	—

	Fair Value as of December 31, 2016
	Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents	$	270,448	$	270,448	$	—	$	—
Total	$	270,448	$	270,448	$	—	$	—

Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2017

Payables And Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following:

	September 30,		December 31,
	2017		2016
	(In thousands)
Employee compensation and benefits	$	3,131	$	2,703
Research and development and professional expenses		2,808		3,197
Accrued expenses	$	5,939	$	5,900

Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Equity-Based Compensation Expense

Equity-based compensation expense is classified in the consolidated statements of operations as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(In thousands)
Research and development	$	1,987	$	1,235	$	5,048	$	2,926
General and administrative		1,260		820		3,678		1,774
Total	$	3,247	$	2,055	$	8,726	$	4,700

Summary of Restricted Stock Activity

The following table summarizes the Company’s restricted stock activity for the nine months ended September 30, 2017:

	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested restricted stock as of January 1, 2017		1,361,855		$	0.81
Vested		(558,760	)		0.73
Cancelled		(37,451	)		1.34
Unvested restricted stock as of September 30, 2017		765,644		$	0.84

Summary of Weighted Average Assumptions Used to Compute Fair Value of Option Granted

Key assumptions used to apply this pricing model were as follows:

	Nine Months Ended September 30, 2017			Nine Months Ended September 30, 2016
Risk-free interest rate		1.9	%		1.3	%
Expected life of options	6.0 years			6.0 years
Expected volatility of underlying stock		93.0	%		88.0	%
Expected dividend yield		0.0	%		0.0	%

Summary of Stock Option Activity

The following is a summary of stock option activity for the nine months ended September 30, 2017:

	Number of Options			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
						(In years)		(In thousands)
Outstanding at January 1, 2017		3,040,214		$	8.35
Granted		1,686,457			14.15
Exercised		(73,139	)		6.95
Forfeited		(232,308	)		13.02
Outstanding at September 30, 2017		4,421,224		$	10.34		8.6	$	64,194
Exercisable at September 30, 2017		1,146,551		$	8.08		7.9	$	19,236

Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

Basic and diluted loss per share attributable to common stockholders was calculated as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
	(In thousands)
Net loss	$	(15,356	)	$	(7,482	)	$	(43,580	)	$	(21,071	)
Weighted average shares outstanding, basic and diluted		35,189			34,316			34,945			18,098
Net loss per share attributable to common stockholders, basic and diluted	$	(0.44	)	$	(0.22	)	$	(1.25	)	$	(1.16	)

Potential Dilutive Securities Excluded from Computation of Diluted Net Loss Per Common Share

The following common stock equivalents were excluded from the calculation of diluted loss per share because their inclusion would have been anti-dilutive:

	Periods Ended September 30,
	2017		2016
	(In thousands)
Unvested restricted stock		766		1,551
Stock options		4,421		3,029
Total		5,187		4,580

Fair Value Measurements - Summary of Financial Assets Recognized at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 206,657	$ 270,448
Total	206,657	270,448
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	206,657	270,448
Total	$ 206,657	$ 270,448

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Employee compensation and benefits	$ 3,131	$ 2,703
Research and development and professional expenses	2,808	3,197
Accrued expenses	$ 5,939	$ 5,900

Collaborations - Additional Information (Detail)	1 Months Ended		3 Months Ended		9 Months Ended		34 Months Ended
Collaborations - Additional Information (Detail)	Apr. 30, 2016 USD ($) Unit	Jan. 31, 2015 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration revenue			$ 7,317,000	$ 4,869,000	$ 19,449,000	$ 10,852,000
Novartis [Member] \| Class A Preferred Units [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Proceeds from issuance of preferred stock		$ 9,000,000
Estimated fair value of units		11,600,000
Difference between cash proceeds received and estimated fair value of preferred units		2,600,000
Novartis [Member] \| Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Development based milestone payments under agreement		30,300,000
Regulatory based milestone payments for first indication		50,000,000
Regulatory based milestone payments for second indication		50,000,000
Sales based milestone payments under agreement		100,000,000
Novartis [Member] \| Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred Revenue Additions		10,000,000					$ 28,400,000
Technology access fees		20,000,000
Quarterly research payments		$ 1,000,000
Research term		5 years
Collaboration revenue			2,400,000	2,000,000	6,800,000	5,700,000	20,600,000
Accounts receivable			1,000,000		1,000,000		1,000,000	$ 6,000,000
Deferred revenue			7,700,000		7,700,000		7,700,000	11,600,000
Novartis [Member] \| Collaborative Arrangement [Member] \| Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Total research funding		$ 20,000,000
Regeneron Pharmaceuticals Inc. [Member] \| Collaborative Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred Revenue Additions	$ 75,000,000						75,000,000
Collaboration revenue			4,900,000	$ 2,900,000	12,600,000	$ 5,200,000	21,300,000
Deferred revenue			57,300,000		$ 57,300,000		57,300,000	66,700,000
Purchase of common stock through private placement	$ 50,000,000
Percentage of obligated fund on research and development costs	50.00%
Revenue Recognition, Multiple-deliverable Arrangements, Allocation to Specific Unit of Accounting					The Company allocated the $75.0 million in fixed consideration to the two units of accounting based on the estimated relative selling price of each deliverable.
Number of accounting based units \| Unit	2
Amount allocated to licenses to targets and associated research activities and evaluation plans	$ 63,800,000
Amount allocated to technology collaboration	$ 11,200,000
Licenses to targets and associated research activities and evaluation plans performance period	6 years
Accounts receivable			$ 3,500,000		$ 3,500,000		3,500,000	$ 500,000
Regeneron Pharmaceuticals Inc. [Member] \| Collaborative Arrangement [Member] \| Research and Development Services [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration revenue							$ 3,600,000
Regeneron Pharmaceuticals Inc. [Member] \| Collaborative Arrangement [Member] \| Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Development based milestone payments under agreement	$ 25,000,000
Sales based milestone payments under agreement	185,000,000
Regulatory based milestone payments under agreement	$ 110,000,000

Equity-Based Compensation - Schedule of Equity-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 3,247	$ 2,055	$ 8,726	$ 4,700
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	1,987	1,235	5,048	2,926
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 1,260	$ 820	$ 3,678	$ 1,774

Equity-Based Compensation - Summary of Restricted Stock Activity (Detail)	9 Months Ended
	Sep. 30, 2017 $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Unvested, Beginning balance \| shares	1,361,855
Number of Shares, Vested \| shares	(558,760)
Number of Shares, Cancelled \| shares	(37,451)
Number of Shares, Unvested, Ending balance \| shares	765,644
Weighted Average Grant Date Fair Value per Share, Unvested, Beginning balance \| $ / shares	$ 0.81
Weighted Average Grant Date Fair Value per Share, Vested \| $ / shares	0.73
Weighted Average Grant Date Fair Value per Share, Cancelled \| $ / shares	1.34
Weighted Average Grant Date Fair Value per Share, Unvested, Ending balance \| $ / shares	$ 0.84

Equity-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	$ 4.1		$ 4.1
Weighted average grant date fair value per share	$ 13.45	$ 14.91	$ 10.73	$ 6.42
Unrecognized compensation cost related to stock options	$ 22.7		$ 22.7
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of unrecognized compensation costs			1 year 2 months 13 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of unrecognized compensation costs			2 years 7 months 7 days

Equity-Based Compensation - Summary of Weighted Average Assumptions Used to Compute Fair Value of Option Granted (Detail)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	1.90%	1.30%
Expected life of options	6 years	6 years
Expected volatility of underlying stock	93.00%	88.00%
Expected dividend yield	0.00%	0.00%

Equity-Based Compensation - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($) $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options, Outstanding, Beginning Balance \| shares	3,040,214
Number of options, Granted \| shares	1,686,457
Number of options, Exercised \| shares	(73,139)
Number of options, Forfeited \| shares	(232,308)
Number of Options, Outstanding, Ending Balance \| shares	4,421,224
Number of Options, Exercisable \| shares	1,146,551
Weighted Average Exercise Price per Share, Outstanding, Beginning Balance \| $ / shares	$ 8.35
Weighted Average Exercise Price per Share, Granted \| $ / shares	14.15
Weighted Average Exercise Price per Share, Exercised \| $ / shares	6.95
Weighted Average Exercise Price per Share, Forfeited \| $ / shares	13.02
Weighted Average Exercise Price per Share, Outstanding, Ending Balance \| $ / shares	10.34
Weighted Average Exercise Price per Share, Exercisable \| $ / shares	$ 8.08
Weighted Average Remaining Contractual Term, Outstanding	8 years 7 months 6 days
Weighted Average Remaining Contractual Term, Exercisable	7 years 10 months 24 days
Aggregate Intrinsic Value, Outstanding \| $	$ 64,194
Aggregate Intrinsic Value, Exercisable \| $	$ 19,236

Loss Per Share - Schedule of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net loss	$ (15,356)	$ (7,482)	$ (43,580)	$ (21,071)
Weighted average shares outstanding, basic and diluted	35,189	34,316	34,945	18,098
Net loss per share attributable to common stockholders, basic and diluted	$ (0.44)	$ (0.22)	$ (1.25)	$ (1.16)

Loss Per Share - Additional Information (Detail)	1 Months Ended
Loss Per Share - Additional Information (Detail)	May 31, 2016 shares
IPO [Member]
Earnings Loss Per Share [Line Items]
Number of common stock issued upon conversion of shares	6,900,000
Conversion of convertible preferred stock into common stock	23,481,956
Private Placement [Member]
Earnings Loss Per Share [Line Items]
Number of common stock issued upon conversion of shares	3,055,554

Loss Per Share - Potential Dilutive Securities Excluded from Computation of Diluted Net Loss Per Common Share (Detail) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	5,187	4,580
Unvested Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	766	1,551
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	4,421	3,029

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Aug. 31, 2015	Jul. 31, 2014
Related Party Transaction [Line Items]
Research and development expense related to license and service agreements with related party		$ 17,481	$ 7,861	$ 46,477	$ 20,509
General and administrative expenses		5,711	4,705	17,812	11,680
Collaboration revenue		$ 7,317	4,869	$ 19,449	10,852
Caribou [Member]
Related Party Transaction [Line Items]
Junior preferred units issued								8,110,599
Percentage of shares owned		12.60%		12.60%
Research and development expense related to license and service agreements with related party			300		1,100
General and administrative expenses		$ 100	800	$ 600	1,200
Percentage of related party obligation		30.00%		30.00%
Novartis [Member] \| Collaborative Arrangement [Member]
Related Party Transaction [Line Items]
Percentage of shares owned		15.70%		15.70%
Common stock, shares acquired	277,777
Collaboration revenue		$ 2,400	$ 2,000	$ 6,800	$ 5,700
Accounts receivable		1,000		1,000		$ 6,000
Deferred revenue		$ 7,700		$ 7,700		$ 11,600
Novartis [Member] \| Class A-1 Preferred Units [Member] \| Collaborative Arrangement [Member]
Related Party Transaction [Line Items]
Junior preferred units issued								4,761,905
Novartis [Member] \| Class A-2 Preferred Units [Member] \| Collaborative Arrangement [Member]
Related Party Transaction [Line Items]
Junior preferred units issued								2,666,666
Novartis [Member] \| Series B Preferred Stock [Member] \| Collaborative Arrangement [Member]
Related Party Transaction [Line Items]
Preferred stock, shares acquired							761,905