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Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2016
Document Information [Line Items]
Document Type	S-1
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Entity Registrant Name	Lion Biotechnologies, Inc.
Entity Central Index Key	0001425205
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer

Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 8,943	$ 13,642	$ 44,909
Money market funds	29,972	19,945	0
Short-term investments available for sale	60,251	70,113	0
Prepaid expenses and other current assets	193	277	66
Total Current Assets	99,359	103,977	44,975
Property and equipment, net of accumulated depreciation of $1,372, $1,103 and $104, respectively	1,409	1,676	1,532
Total Assets	100,768	105,653	46,507
Current Liabilities
Accounts payable	1,054	958	1,248
Accrued expenses	690	586	328
Accrued payable to officers and former directors	86	86	86
Total Current Liabilities	1,830	1,630	1,662
Commitments and contingencies
Stockholders’ Equity
Preferred stock, $0.001 par value; 50,000,000 shares authorized, 1,694, 1,694 and 5,694 shares issued and outstanding, respectively	0	0	0
Common stock, $0.000041666 par value; 150,000,000 shares authorized, 48,516,528, 48,547,720 and 33,750,188 shares issued and outstanding, respectively	2	2	2
Common stock to be issued, 303,125 shares	245	245	245
Accumulated other comprehensive income	68	48	0
Additional paid-in capital	209,729	207,950	121,160
Accumulated deficit	(111,106)	(104,222)	(76,562)
Total Stockholders’ Equity	98,938	104,023	44,845
Total Liabilities and Stockholders’ Equity	$ 100,768	$ 105,653	$ 46,507

Condensed Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 1,372	$ 1,103	$ 104
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	50,000,000	50,000,000	50,000,000
Preferred Stock, Shares Issued	1,694	1,694	5,694
Preferred Stock, Shares Outstanding	1,694	1,694	5,694
Common Stock, Par or Stated Value Per Share	$ 0.000041666	$ 0.000041666	$ 0.000041666
Common Stock, Shares Authorized	150,000,000	150,000,000	150,000,000
Common Stock, Shares, Issued	48,516,528	48,547,720	33,750,188
Common Stock, Shares, Outstanding	48,516,528	48,547,720	33,750,188
Common Stock To Be Issued Shares	303,125	303,125	303,125

Condensed Statements of Operations - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Condensed Statements of Operations - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues	$ 0	$ 0	$ 0	$ 0	$ 0
Costs and expenses
Research and development (including $585, $387, $2,248, $1,144 and $825 in share-based compensation costs)	4,192	2,398	15,470	3,849	2,154
General and administrative (including $1,194, $1,080, $6,275, $2,670 and $1,925 in share-based compensation costs)	2,818	2,900	12,390	8,192	3,831
Cost of Lion transaction			0	0	16,656
Total costs and expenses	7,010	5,298	27,860	12,041	22,641
Loss from operations	(7,010)	(5,298)	(27,860)	(12,041)	(22,641)
Other income (expense)
Interest income (expense)	126	0	200	6	(445)
Cost to induce exchange transaction			0	0	(2,296)
Total other income (expense)			200	6	(2,741)
Net Loss	$ (6,884)	$ (5,298)	(27,660)	(12,035)	(25,382)
Deemed dividend related to beneficial conversion feature of convertible preferred stock			0	0	(8,462)
Net Loss Attributable to common Stockholders			$ (27,660)	$ (12,035)	$ (33,844)
Net Loss Per Share, Basic and Diluted	$ (0.14)	$ (0.14)	$ (0.62)	$ (0.48)	$ (3.47)
Weighted-Average Common Shares Outstanding, Basic and Diluted	48,547,534	37,678,662	44,410,036	24,985,542	9,762,513

Condensed Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Research and Development Expense [Member]
Share Based Compensation	$ 585	$ 387	$ 2,248	$ 1,144	$ 825
General and Administrative Expense [Member]
Share Based Compensation	$ 1,194	$ 1,080	$ 6,275	$ 2,670	$ 1,925

Condensed Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Loss	$ (6,884)	$ (5,298)	$ (27,660)	$ (12,035)	$ (25,382)
Other comprehensive income:
Unrealized gain on short-term investments	20	0	48	0	0
Comprehensive Loss	$ (6,864)	$ (5,298)	$ (27,612)	$ (12,035)	$ (25,382)

- Definition

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

+ References + Details

Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Common Stock to be Issued [Member]	Additional Paid-in Capital [Member]	Comprehensive Income [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2012	$ (11,319)	$ 0	$ 0	$ 245	$ 19,119	$ 0	$ (30,683)
Beginning Balance (in shares) at Dec. 31, 2012		0	818,806
Common stock issued in settlement of notes payable and accrued interest and penalty	9,268		$ 1		9,267
Common stock issued in settlement of notes payable and accrued interest and penalty (in shares)			9,267,641
Common stock issued for cash under the restructuring, net of offering costs of $109	1,239				1,239
Common stock issued for cash under the restructuring, net of offering costs of $109 ( in shares)			1,350,000
Common stock issued to induce exchange transaction	2,296				2,296
Common stock issued to induce exchange transaction (in shares)			2,295,868
Fair value of vested stock options	747				747
Common stock Issued for Lion transactions	16,656				16,656
Common stock Issued for Lion transactions (in shares)			2,690,000
Common stock issued for services	274				274
Common stock issued for services (in shares)			50,000
Common stock issued to directors	2,003				2,003
Common stock issued to directors (in shares)			400,596
Common stock sold in private placement	5,887				5,887
Common stock sold in private placement (in shares)			3,145,300
Preferred stock sold in private placement	15,909				15,909
Preferred stock sold in private placement (in shares)		17,000
Common stock issued for settlement of payable	25				25
Common stock issued for settlement of payable (in shares)			5,747
Deemed dividend on beneficial conversion feature of preferred stock	0				8,462		(8,462)
Unrealized gain on short-term investments	0
Net loss	(25,382)						(25,382)
Ending Balance at Dec. 31, 2013	17,603	$ 0	$ 1	245	81,884	0	(64,527)
Ending Balance (in shares) at Dec. 31, 2013		17,000	20,023,958
Common stock issued to induce exchange transaction	0
Fair value of vested stock options	2,559				2,559
Common stock issued upon exercise of warrants	3,222				3,222
Common stock issued upon exercise of warrants (in shares)			1,288,730
Common stock issued upon conversion of preferred shares	0
Common stock issued upon conversion of preferred shares (in shares)		(11,306)	5,653,000
Common stock issued for services	1,255				1,255
Common stock issued for services (in shares)			784,500
Common stock sold in private placement	32,241		$ 1		32,240
Common stock sold in private placement (in shares)			6,000,000
Unrealized gain on short-term investments	0
Net loss	(12,035)						(12,035)
Ending Balance at Dec. 31, 2014	44,845	$ 0	$ 2	245	121,160	0	(76,562)
Ending Balance (in shares) at Dec. 31, 2014		5,694	33,750,188
Common stock issued to induce exchange transaction	0
Fair value of vested stock options	6,752				6,752
Common stock issued upon exercise of warrants	9,705				9,705
Common stock issued upon exercise of warrants (in shares)			3,880,210
Common stock issued upon exercise of options	255				255
Common stock issued upon exercise of options (in shares)			42,387
Common stock issued upon conversion of preferred shares	0
Common stock issued upon conversion of preferred shares (in shares)		(4,000)	2,000,000
Common stock sold in public offering, net of offering costs	68,307				68,307
Common stock sold in public offering, net of offering costs (in shares)			9,200,000
Common stock issued for services	1,771				1,771
Common stock issued for services (in shares)			15,000
Vesting of restricted shares issued for services	0
Forfeiture and cancellation of restricted shares issued for services (in shares)			(340,065)
Unrealized gain on short-term investments	48					48
Net loss	(27,660)						(27,660)
Ending Balance at Dec. 31, 2015	104,023	$ 0	$ 2	245	207,950	48	(104,222)
Ending Balance (in shares) at Dec. 31, 2015		1,694	48,547,720
Fair value of vested stock options	1,483				1,483
Vesting of restricted shares issued for services	296				296
Cancellation of stock option and restricted shares issued for services	0				0
Cancellation of stock option and restricted shares issued for services (in shares)			(31,192)
Unrealized gain on short-term investments	20					20
Net loss	(6,884)						(6,884)
Ending Balance at Mar. 31, 2016	$ 98,938	$ 0	$ 2	$ 245	$ 209,729	$ 68	$ (111,106)
Ending Balance (in shares) at Mar. 31, 2016		1,694	48,516,528

Statement of Stockholders' Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Common Stock [Member]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 109

Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Statements of Cash Flows - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows From Operating Activities
Net Loss	$ (6,884)	$ (5,298)	$ (27,660)	$ (12,035)	$ (25,382)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	269	185	999	88	7
Fair value of vested stock options	1,483	1,017	6,752	2,559	747
Common stock issued for services	296	450	1,771	1,255	274
Common stock issued to induce exchange transaction			0	0	2,296
Common stock issued for Lion transaction			0	0	16,656
Common stock issued to directors			0	0	2,003
Changes in assets and liabilities:
Prepaid expenses and other current assets	84	(62)	(211)	108	(164)
Accounts payable and accrued expenses	200	249	(32)	(608)	(98)
Net Cash Used In Operating Activities	(4,552)	(3,459)	(18,381)	(8,633)	(3,661)
Cash Flows From Investing Activities
Purchase of money market funds	(10,027)	0
Increase in money market funds			(19,945)	0	0
Purchase of short-term investments	(29,273)	0	(140,665)	0	0
Maturities of short-term investments	39,155	0	70,600	0	0
Purchase of property and equipment	(2)	(782)	(1,143)	(1,592)	(13)
Net Cash Used In Investing Activities	(147)	(782)	(91,153)	(1,592)	(13)
Cash Flows From Financing Activities
Proceeds from the issuance of common stock upon exercise of warrants	0	2,304	9,705	3,222	0
Proceeds from the issuance of common stock upon exercise of options			255	0	0
Proceeds from the issuance of common stock, net	0	68,308	68,307	32,240	7,126
Proceeds from the issuance of convertible notes, net			0	0	311
Proceeds from the issuance of preferred stock, net			0	0	15,909
Net Cash Provided By Financing Activities	0	70,612	78,267	35,462	23,346
Net (decrease) increase in cash and cash equivalents	(4,699)	66,371	(31,267)	25,237	19,672
Cash and Cash Equivalents, Beginning of Period	13,642	44,909	44,909	19,672	0
Cash and Cash Equivalents, End of Period	8,943	111,280	13,642	44,909	19,672
Supplemental Disclosures of Cash Flow Information:
Unrealized gain on short-term investments	$ 20	$ 0	48	0	0
Common stock issued upon conversion of convertible notes			0	0	6,793
Common stock issued upon conversion of accrued interest and penalty			$ 0	$ 0	$ 2,475

GENERAL ORGANIZATION AND BUSINESS

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GENERAL ORGANIZATION AND BUSINESS

NOTE 1. GENERAL ORGANIZATION AND BUSINESS

Basis of Presentation of Unaudited Condensed Financial Information

The unaudited condensed financial statements of the Company for the three months ended March 31, 2016 and 2015 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-K. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair presentation of the financial position and the results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of December 31, 2015 was derived from the audited financial statements included in the Company's financial statements as of and for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2016. These financial statements should be read in conjunction with that report.

Liquidity

We are currently engaged in the development of therapeutics to fight cancer, we do not have any commercial products and have not yet generated any revenues from our biopharmaceutical business. We currently do not anticipate that we will generate any revenues during 2016 from the sale or licensing of any products. As shown in the accompanying condensed financial statements, we have incurred a net loss of $6.9 million for the three months ended March 31, 2016 and used $4.6 million of cash in our operating activities during the three months ended March 31, 2016. As of March 31, 2016, we had $99.2 million of cash, money market funds, and short-term investments on hand, stockholders’ equity of $98.9 million and had working capital of $97.5 million.

During 2016, we expect to further ramp up our clinical operations and research activities, which will increase the amount of cash we will use. Specifically, our budget for 2016 includes increased spending on Phase II clinical trials, research and development activities, higher payroll expenses as we increase our professional and scientific staff, as well as ongoing payments under our Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI). We estimate that we will spend between $30- $35 million in cash during 2016. Based on the funds we had available on March 31, 2016, we believe that we have sufficient capital to fund our anticipated operating expenses for at least 12 months.

NOTE 1. GENERAL ORGANIZATION AND BUSINESS

Lion Biotechnologies, Inc. (the “Company,” “we,” “us” or “our”) is a biotechnology company focused on developing and commercializing adoptive cell therapy (ACT) using autologous tumor infiltrating lymphocytes (TIL) for the treatment of metastatic melanoma and other solid cancers. ACT utilizes T-cells harvested from a patient to treat cancer in that patient. TIL, a kind of anti-tumor T-cells that are naturally present in a patient’s tumors, are collected from individual patient tumor samples. The TIL are then activated and expanded ex vivo and then infused back into the patient to fight their tumor cells. The Company was originally incorporated under the laws of the state of Nevada on September 17, 2007. Until March 2010, we were an inactive company known as Freight Management Corp. On March 15, 2010, we changed our name to Genesis Biopharma, Inc., and in 2011 we commenced our current business. On September 26, 2013, we amended and restated our Articles of Incorporation to, among other things, change our name to Lion Biotechnologies, Inc., effect a 1-for-100 reverse stock split (pro-rata reduction of outstanding shares) of our common stock, increase (after the reverse stock split) the number of our authorized number of shares of common stock to 150,000 shares, and authorize the issuance of 50,000,000 shares of “blank check” preferred stock, $0.001 par value per share. All references herein to the number of shares issued or outstanding, and all per share and other similar data, reflect a 1-for-100 reverse stock split effected on September 26, 2013.

Liquidity

We are currently engaged in the development of therapeutics to fight cancer, we do not have any commercial products and have not yet generated any revenues from our biopharmaceutical business. We currently do not anticipate that we will generate any revenues during 2016 from the sale or licensing of any products. As shown in the accompanying financial statements, we have incurred a net loss of $27.7 million for the year ended December 31, 2015 and used $18.4 million of cash in our operating activities during the year ended December 31, 2015. As of December 31, 2015, we had $103.7 million of cash and cash equivalents, money market funds, and short-term investments on hand, stockholders’ equity of $104.0 million and had working capital of $102.3 million.

During 2016, we expect to further ramp up our clinical operations which will increase the amount of cash we will use in our operations. Our budget for 2016 includes increased spending on Phase II clinical trials, research and development activities, higher payroll expenses as we increase our professional and scientific staff, as well as ongoing payments under our Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI). Based on the funds we had available on December 31, 2015, we believe that we have sufficient capital to fund our anticipated operating expenses for at least 12 months.

In March 2015, the Company sold 9,200,000 shares of its common stock in an underwritten public offering at $8.00 per share for net proceeds of $68.3 million, after deducting expenses of the offering. In December 2014, the Company sold 6,000,000 shares of its common stock in an underwritten public offering at $5.75 per share for net proceeds of $32.2 million after deducting expenses of the offering. In November 2013, we completed a $23.3 million private placement of our securities to various institutional and individual accredited investors. Despite the amount of funds that we have raised, the estimated cost of completing the development of our TIL-based therapy, and of obtaining all required regulatory approvals to market those product candidates, may be substantially greater than the amount of funds we have available. Therefore, while we believe that our existing cash balances will be sufficient to fund our currently planned level of operations for at least 12 months, we will have to obtain additional funds in the future to complete our development plans. We intend to seek this additional funding through various financing sources, including possible sales of our securities, and in the longer term through strategic alliances with other pharmaceutical or biopharmaceutical companies.

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES

Short-term Investments

The Company’s short-term investments represent available for sale securities and are recorded at fair value and unrealized gains and losses are recorded within accumulated other comprehensive income (loss). The estimated fair value of the available for sale securities is determined based on quoted market prices or rates for similar instruments. In addition, the cost of debt securities in this category is adjusted for amortization of premium and accretion of discount to maturity. The Company evaluates securities with unrealized losses to determine whether such losses, if any, are other than temporary.

Loss per Share

Basic earnings (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Shares of restricted stock are included in the basic weighted average number of common shares outstanding from the time they vest. Diluted earnings (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. Shares of restricted stock are included in the diluted weighted average number of common shares outstanding from the date they are granted until which time they vest, unless they are antidilutive. For the three month ended March 31, 2016, and 2015, the calculations of basic and diluted loss per share are the same because inclusion of potential dilutive securities in the computation would have an anti-dilutive effect due to the net losses.

At March 31, 2016 and 2015, the dilutive impact of outstanding stock options for 3,367,129 and 1,907,877 shares, respectively; outstanding warrants for 7,202,216 and 10,162,726 shares, respectively; and preferred stock that can convert into 847,000 and 1,847,000 shares, respectively of our common stock, have been excluded because their impact on the loss per share is anti-dilutive.

Fair Value Measurements

Under FASB ASC 820, Fair Value Measurements and Disclosures, fair value is defined as the price at which an asset could be exchanged or a liability transferred in a transaction between knowledgeable, willing parties in the principal or most advantageous market for the asset or liability. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or parameters are not available, valuation models are applied.

Assets and liabilities recorded at fair value in our financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities, are as follows:

Level 1—Inputs are unadjusted, quoted prices in active markets for identical assets at the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

The fair valued assets we hold that are generally included under this Level 1 are money market securities where fair value is based on publicly quoted prices.

Level 2—Are inputs, other than quoted prices included in Level 1, that are either directly or indirectly observable for the asset or liability through correlation with market data at the reporting date and for the duration of the instrument’s anticipated life.

The fair valued assets we hold that are generally assessed under Level 2 are corporate bonds and commercial paper. We utilize third party pricing services in developing fair value measurements where fair value is based on valuation methodologies such as models using observable market inputs, including benchmark yields, reported trades, broker/dealer quotes, bids, offers and other reference data. We use quotes from external pricing service providers and other on-line quotation systems to verify the fair value of investments provided by our third party pricing service providers. We review independent auditor’s reports from our third party pricing service providers particularly regarding the controls over pricing and valuation of financial instruments and ensure that our internal controls address certain control deficiencies, if any, and complementary user entity controls are in place.

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 and which reflect management’s best estimate of what market participants would use in pricing the asset or liability at the reporting date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.

We do not have fair valued assets classified under Level 3.

The Company believes the carrying amount of its financial instruments (consisting of cash and cash equivalents, and accounts payable and accrued expenses) approximates fair value due to the short-term nature of such instruments.

Fair Value on a Recurring Basis

Financial assets measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations (in thousands):

	Assets at Fair Value as of March 31, 2016
	Level 1		Level 2		Level 3		Total
Corporate debt securities	$	-	$	60,251	$	-	$	60,251
Total	$	-	$	60,251	$	-	$	60,251

	Assets at Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total
Money market funds	$	19,945	$	-	$	-	$	19,945
Corporate debt securities		-		70,113		-		70,113
Total	$	19,945	$	70,113	$	-	$	90,058

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include valuation of available-for-sale investments, accounting for potential liabilities, the valuation allowance associated with the Company’s deferred tax assets, and the assumptions made in valuing stock instruments issued for services.

Stock-Based Compensation

The Company periodically grants stock options and warrants to employees and non-employees in non-capital raising transactions as compensation for services rendered. The Company accounts for stock option grants to employees based on the authoritative guidance provided by the Financial Accounting Standards Board where the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option grants to non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board where the value of the stock compensation is determined based upon the measurement date at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested and the total stock-based compensation charge is recorded in the period of the measurement date.

The fair value of the Company's common stock option grants is estimated using a Black-Scholes option pricing model, which uses certain assumptions related to risk-free interest rates, expected volatility, expected life of the common stock options, and future dividends. Compensation expense is recorded based upon the value derived from the Black-Scholes option pricing model, and based on actual experience. The assumptions used in the Black-Scholes option pricing model could materially affect compensation expense recorded in future periods.

The Company issues restricted shares of its common stock for share-based compensation programs. The Company measures the compensation cost with respect to restricted shares to employees based upon the estimated fair value of the equity instruments at the date of the grant, and is recognized as expense over the period which an employee is required to provide services in exchange for the award.

Total stock-based compensation expense related to all of our stock-based awards was as follows (in thousands):

	For the Three Months Ended March 31,
	2016		2015
Research and development	$	585	$	387
General and administrative		1,194		1,080
Total stock-based compensation expense	$	1,779	$	1,467

Concentrations

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash.

The Company maintains cash balances at one bank. At times, the amount on deposit exceeds the federally insured limits. Management believes that the financial institution that holds the Company’s cash is financially sound and, accordingly, minimal credit risk exists. As of March 31, 2016 and 2015, the Company’s cash balances were in excess of insured limits maintained at the bank.

Recent Accounting Pronouncements

In January 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. The new guidance will impact the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. All equity investments in unconsolidated entities (other than those accounted for under the equity method of accounting) will generally be measured at fair value with changes in fair value recognized through earnings. There will no longer be an available-for-sale classification for equity securities with readily determinable fair values in which changes in fair value are currently reported in other comprehensive income. In addition, the FASB clarified the need for a valuation allowance on deferred tax assets resulting from unrealized losses on available-for-sale debt securities. In general, the new guidance will require modified retrospective application to all outstanding instruments, with a cumulative effect adjustment recorded to opening retained earnings. This guidance will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted commencing January 1, 2017. We are currently evaluating the expected impact that the standard could have on our financial statements and related disclosures.

In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is in the process of evaluating the impact of ASU 2016-02 on the Company’s financial statements and disclosures.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

Reclassifications

In presenting the Company’s statement of operations for the three months ended March 31, 2015, the Company has reclassified $0.3 million, of stock-based compensation that was previously reflected as general and administrative expenses to research and development expenses. The reclassification relates to stock-based compensation attributable to individuals working in the Company’s research and development activities, and had no impact on total costs and expenses, or on net loss.

Subsequent Events

The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed financial statements.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of 90 days or less when purchased to be cash equivalents. The carrying amounts reported in the Balance Sheets for cash and cash equivalents are valued at cost, which approximates their fair value.

Short-term Investments

Property and Equipment

Property and equipment are stated at cost, net of accumulated depreciation and amortization. The cost of property and equipment is depreciated or amortized on the straight-line method over the following estimated useful lives:

Computer equipment	2 years
Office furniture and equipment	5 years
Lab equipment	2 years
Leasehold improvements	5 years

Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the lease term. Expenditures for maintenance and repairs are charged to operations as incurred while renewals and betterments are capitalized. Gains and losses on disposals are included in the consolidated statements of operations.

Management assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. For the years ended December 31, 2015 2014 and 2013, the Company did not recognize any impairments for its property and equipment.

Loss per Share

Basic earnings (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Shares of restricted stock are included in the basic weighted average number of common shares outstanding from the time they vest. Diluted earnings (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. Shares of restricted stock are included in the diluted weighted average number of common shares outstanding from the date they are granted unless they are antidilutive. For the years ended December 31, 2015, 2014, and 2013, the calculations of basic and diluted loss per share are the same because inclusion of potential dilutive securities in the computation would have an anti-dilutive effect due to the net losses.

At December 31, 2015, 2014 and 2013, the dilutive impact of outstanding stock options for 2,693,237, 1,857,877, and 278,750 shares, respectively; outstanding warrants for 7,202,216, 11,084,426, and 12,373,156 shares, respectively; and preferred stock that can convert into 847,000, 2,847,000, and -0- shares of our common stock, respectively, have been excluded because their impact on the loss per share is anti-dilutive.

Fair Value Measurements

Under FASB ASC 820, Fair Value Measurements and Disclosures, fair value is defined as the price at which an asset could be exchanged or a liability transferred in a transaction between knowledgeable, willing parties in the principal or most advantageous market for the asset or liability. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or parameters are not available, valuation models are applied.

The fair valued assets we hold that are generally included under this Level 1 are money market securities where fair value is based on publicly quoted prices.

We do not have fair valued assets classified under Level 3.

Fair Value on a Recurring Basis

Financial assets measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations (in thousands):

	Assets at Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total
Money market funds	$	19,945	$		$	-	$	19,945
Corporate debt securities				70,113		-		70,113
Total	$	19,945	$	70,113	$	-	$	90,058

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include accounting for potential liabilities and the assumptions made in valuing stock instruments issued for services.

Stock-Based Compensation

Total stock-based compensation expense related to all of our stock-based awards was as follows (in thousands):

	For the Years Ended December 31,
	2015		2014		2013
Research and development	$	2,248	$	1,144	$	825
General and administrative		6,275		2,670		1,925
Total stock-based compensation expense	$	8,523	$	3,814	$	2,750

Research and Development

Research and development costs consist primarily of compensation paid to employees engaged in research and development activities, fees paid to consultants and outside service providers, patent fees and costs, and other expenses relating to the acquisition, design, development and testing of the Company's treatments and product candidates. Research and development costs are expensed as incurred, or if applicable, over the life of the underlying contracts on the straight-line basis, unless the achievement of milestones, the completion of contracted work, or other information indicates that a different expensing schedule is more appropriate. The Company reviews the status of its research and development contracts on a quarterly basis.

Income taxes

The Company accounts for income taxes using the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Concentrations

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash.

The Company maintains cash balances at one bank. At times, the amount on deposit exceeds the federally insured limits. Management believes that the financial institution that holds the Company’s cash is financially sound and, accordingly, minimal credit risk exists. As of December 31, 2015 and 2014, the Company’s cash balances were in excess of insured limits maintained at the bank.

Recent Accounting Pronouncements

In January 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. The new guidance will impact the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. All equity investments in unconsolidated entities (other than those accounted for under the equity method of accounting) will generally be measured at fair value with changes in fair value recognized through earnings. There will no longer be an available-for-sale classification for equity securities with readily determinable fair values in which changes in fair value are currently reported in other comprehensive income. In addition, the FASB clarified the need for a valuation allowance on deferred tax assets resulting from unrealized losses on available-for-sale debt securities. In general, the new guidance will require modified retrospective application to all outstanding instruments, with a cumulative effect adjustment recorded to opening retained earnings. This guidance will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We are currently evaluating the expected impact that the standard could have on our financial statements and related disclosures.

In November 2015, the FASB issued Accounting Standards Update No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. The update simplifies the presentation of deferred income taxes by requiring that deferred tax liabilities and assets be classified as noncurrent in the balance sheet. The update is effective for public companies for annual reporting periods beginning after December 15, 2016, and interim periods within those fiscal years. The guidance may be adopted prospectively or retrospectively and early adoption is permitted. As of December 31, 2015, the Company has elected to early adopt this ASU on a prospective basis and therefore, prior years were not retrospectively adjusted.

In June 2014, the FASB issued Accounting Standards Update No. 2014-12, Compensation – Stock Compensation (Topic 718). The pronouncement was issued to clarify the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The pronouncement is effective for reporting periods beginning after December 15, 2015. The adoption of ASU 2014-12 will not have a significant impact on the Company’s financial position or results of operations.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted in annual reporting periods beginning after December 15, 2016, and the interim periods within that year, and either full retrospective adoption or modified retrospective adoption is permitted. The Company is in the process of evaluating the impact of ASU 2014-09 on the Company’s financial statements and disclosures.

Reclassifications

In presenting the Company’s statement of operations for the years ended December 31, 2014 and 2013, the Company has reclassified $1.1 million and $0.8 million, respectively, of stock-based compensation that was previously reflected as general and administrative expenses to research and development expenses. The reclassification relates to stock-based compensation attributable to individuals working in the Company’s research and development activities, and had no impact on total costs and expenses, or on net loss.

CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Cash, Cash Equivalents, and Short-term Investments [Abstract]

CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS

NOTE 3. CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS

Cash, money market funds, and short-term investments consist of the following (in thousands):

	March 31,		December 31,
	2016		2015
Checking and savings accounts (reported as cash and cash equivalents)	$	8,943	$	13,642
Money market funds		29,972		19,945
Corporate debt securities (reported as short-term investments)		60,251		70,113
	$	99,166	$	103,700

Money market funds and short-term investments include the following securities with gross unrealized gains and losses (in thousands):

			Gross		Gross
			Unrealized		Unrealized
March 31, 2016	Cost		Gains		Losses		Fair Value
Money market funds	$	29,972	$	-	$	-	$	29,972
Corporate debt securities		60,183		68		-		60,251
Total	$	90,155	$	68	$	-	$	90,223

			Gross		Gross
			Unrealized		Unrealized
December 31, 2015	Cost		Gains		Losses		Fair Value
Money market funds	$	19,945	$	-	$	-	$	19,945
Corporate debt securities		70,065		48		-		70,113
Total	$	90,010	$	48	$	-	$	90,058

As of March 31, 2016, the contractual maturities of our money market funds and short-term investments were (in thousands):

	Within One
	Year
Money market funds	$	29,972
Corporate debt securities		60,251
	$	90,223

At March 31, 2016, the Company’s short-term investments were invested in short-term fixed income debt securities and notes of domestic and foreign high credit issuers and in money market funds. The Company’s investment policy limits investments to certain types of instruments such as certificates of deposit, money market instruments, obligations issued by the U.S. government and U.S. government agencies as well as corporate debt securities, and places restrictions on maturities and concentration by type and issuer. At March 31, 2016, the Company’s short-term investments totaled $60.3 million, of which 50% were invested in notes of five companies, 44% were invested in notes of other domestic issuers, and 6% were invested in notes of foreign issuers. The average maturity of these notes was 85 days. At March 31, 2016 the Company’s money-market funds totaled approximately $30 million and were invested in a single, no-load money market fund.

NOTE 3. CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS

Cash, money market funds, and short-term investments consist of the following (in thousands):

	December 31,
	2015		2014
Checking and savings accounts (reported as cash and cash equivalents)	$	13,642	$	44,909
Money market funds		19,945		-
Corporate debt securities (reported as short-term investments)		70,113		-
	$	103,700	$	44,909

Money market funds and short-term investments include the following securities with gross unrealized gains and losses (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized
December 31, 2015	Cost		Gains		Losses		Fair Value
Money market funds	$	19,945	$	-	$	-	$	19,945
Corporate debt securities		70,065		48		-		70,113

Total	$	90,010	$	48	$	-	$	90,058

As of December 31, 2015, the contractual maturities of our money market funds and short-term investments were (in thousands):

	Within One
	Year
Money market funds	$	19,945
Corporate debt securities		70,113
	$	90,058

At December 31, 2015, the Company’s short-term investments were invested in short-term fixed income debt securities and notes of domestic and foreign high credit issuers and in money market funds. The Company’s investment policy limits investments to certain types of instruments such as certificates of deposit, money market instruments, obligations issued by the U.S. government and U.S. government agencies as well as corporate debt securities, and places restrictions on maturities and concentration by type and issuer. At December 31, 2015, the Company’s short-term investments totaled $70.1 million, of which 43% were invested in notes of five companies, 37% were invested in notes of other domestic issuers, and 20% were invested in notes of foreign issuers. The average maturity of these notes was 66 days. At December 31, 2015 the Company’s money-market funds totaled $19.9 million and were invested in a single, no-load money market fund.

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 4. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following (in thousands):

	December 31,
	2015		2014
Lab equipment	$	1,703	$	689
Computer equipment		85		72
Office furniture and equipment		138		113
Leasehold improvements		853		762
Total Property and equipment, cost		2,779		1,636
Less: Accumulated depreciation and amortization		(1,103)		(104)
Property and equipment, net	$	1,676	$	1,532

Depreciation expense for the years ended December 31, 2015, 2014 and 2013 was $999, $88 and $7, respectively.

STOCKHOLDERS' EQUITY

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 4. STOCKHOLDERS’ EQUITY

During 2016, certain employees authorized the Company to cancel 41,193 vested shares to satisfy withholding requirements related to such vesting. The cancellation is recorded as a reduction to shares outstanding. Additionally, shares of restricted stock granted above are subject to forfeiture to the Company or other restrictions that will lapse in accordance with a vesting schedule determined by our Board.

The following table summarizes restricted common stock activity:

	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested shares, January 1, 2016		321,252	$	6.96
Granted
Vested		(73,126)		6.40
Forfeited		-		-
Non-vested shares, March 31, 2016		248,126	$	7.13

NOTE 5. STOCKHOLDERS’ EQUITY

On March 3, 2015, the Company completed an underwritten public offering of 9,200,000 shares of its common stock at a price of $8.00 per share of common stock. The net proceeds to the Company from the offering were $68.3 million, after deducting underwriting discounts and commissions and offering expenses. The offering was made pursuant to the Company’s existing shelf registration statement on Form S-3, including a base prospectus, which was filed with the SEC on November 20, 2014 and declared effective on December 10, 2014, a preliminary prospectus supplement thereunder, and a registration statement on Form S-3 filed with the SEC on February 26, 2015.

On May 6, 2015, certain stockholders of the Company, including certain members of Board of Directors of the Company and their affiliates, sold 4,750,000 shares of the Company’s common stock in an underwritten secondary offering at a price of $10.00 per share. The Company did not sell any shares in the offering and did not receive any of the proceeds from the offering.

On December 22, 2014 the Company completed an underwritten public offering of 6,000,000 shares of our common stock at a price of $5.75 per share. The net proceeds to us from the offering were $32.2 million, after deducting underwriting discounts and commissions and offering expenses payable by us. The offering was made pursuant to a shelf registration statement on Form S-3, which was filed with the SEC on November 20, 2014 and declared effective on December 10, 2014, and a prospectus supplement thereunder.

During 2015 and 2014, the Company granted 15,000 and 782,500 shares, respectively, of its restricted common stock to certain of its employees in accordance with the terms of their employment agreements. The total of 797,500 shares vest over a period of three years. As these shares were granted to employees, the Company calculated the aggregate fair value of the 797,500 shares to be $4.3 million based on the trading prices of the Company’s stock at their grant dates. The allocable portion of the fair value of the stock that vested during the years ended December 31, 2015 and 2014 totaled $1.7 million and $1.3 million, respectively, and is recognized as expense in the accompanying statements of operations. As of December 31, 2015, the amount of unvested compensation related to the unvested outstanding shares of restricted common stock was $1.3 million, which will be recorded as expense in over a weighted average life of 2.25 years as the shares vest.

During 2015, certain employees authorized the Company to cancel 148,565 vested shares to satisfy withholding requirements related to such vesting. The cancellation is recorded as a reduction to shares outstanding. Additionally, shares of restricted stock granted above are subject to forfeiture to the Company or other restrictions that will lapse in accordance with a vesting schedule determined by our Board.

The following table summarizes restricted common stock activity:

			Weighted
			Average
	Number of		Grant Date
	Shares		Fair Value
Non-vested shares, January 1, 2014		-	$	-
Granted		782,500		7.04
Vested		-		-
Forfeited		-		-
Non-vested shares, December 31, 2014		782,500		7.04
Granted		15,000		8.44
Vested		(284,748)		4.31
Forfeited		(191,500)		6.81
Non-vested shares, December 31, 2015		321,252	$	6.96

In May 2013, the Company completed a transaction in which it cancelled certain debt and sold shares of common stock. As part of the transaction, certain investors purchasing common stock received as an inducement of 2,173,134 shares of common stock with a fair value of $2.1 million for no consideration. In addition, certain creditors received 122,734 shares of common stock valued at $0.1 million to cancel warrants to acquire 122,734 shares of common stock. The aggregate fair value of $2.2 million is reflected as cost to induce exchange transaction in the accompanying statement of operations for the year ended December 31, 2013.

In July 2013, the Company issued 1,340,000 shares of common stock with a fair value of $6.7 million to the two owners of Lion Biotechnologies, then a privately owned Delaware corporation, for all of their issued and outstanding shares of common stock. In the fourth quarter of 2013, the Company issued an additional 1,350,000 shares of common stock with a fair value of $9.9 million to the two owners. The aggregate fair value of all shares issued in the transaction was $16.6 million and is reflected as cost of Lion transaction in the accompanying statement of operations for the year ended December 31, 2013.

Series A Convertible Preferred Stock

A total of 17,000 shares of Series A Convertible Preferred Stock have been authorized for issuance under the Certificate of Designation of Preferences and Rights of Series A Convertible Preferred Stock. The shares of Series A Preferred Stock have a stated value of $1,000 per share and are initially convertible into shares of common stock at a price of $2.00 per share, subject to adjustment.

The Series A Preferred Stock may, at the option of the investor, be converted into fully paid and non-assessable shares of common stock. The holders of shares of Series A Preferred Stock shall not have the right to vote on matters that come before stockholders. In the event of any dissolution or winding up of the Company, proceeds shall be paid pari passu among the holders of the shares of common stock and preferred stock, pro rata based on the number of shares held by each holder. The Company may not declare, pay or set aside any dividends on shares of capital stock of the Company (other than dividends on shares of common stock payable in shares of common stock) unless the holders of the Series A Preferred Stock shall first receive an equal dividend on each outstanding share of Series A Preferred Stock.

During the years ended December 31, 2015 and 2014, 4,000 shares and 11,306 shares, respectively, of Series A Convertible Preferred Stock were converted into 2,000,000 and 5,653,000 shares of common stock, respectively. The common shares issued were determined on a formula basis of 500 common shares for each share of Series A Convertible Preferred Stock converted.

- 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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-Paragraph 4
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 2
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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-Paragraph 1
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-Subparagraph (SAB TOPIC 4.C)
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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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-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 30
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

STOCK OPTIONS AND WARRANTS

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

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

STOCK OPTIONS AND WARRANTS

NOTE 5. STOCK OPTIONS

A summary of the status of stock options at March 31, 2016, and the changes during the three months then ended, is presented in the following table:

					Weighted
			Weighted		Average		Aggregate
	Shares		Average		Remaining		Intrinsic
	Under		Exercise		Contractual		Value
	Option		Price		Life		(in thousands)
Outstanding at January 1, 2016		2,693,237	$	8.12		8.02	$	2,347
Granted		986,422		5.02		9.9
Exercised		-		-		-		-
Expired/Forfeited		(312,530)		8.01		-		-
Outstanding at March 31, 2016		3,367,129	$	7.15		8.87	$	185
Exercisable at March 31, 2016		1,151,221	$	8.26		7.82	$	24

During the three months ended March 31, 2016, the Company granted options to purchase 986,422 shares of common stock to new employees and directors of the Company. The stock options generally vest between one and three years. The fair value of these options was determined to be $4.8 million using the Black-Scholes option pricing model based on the following assumptions: (i) volatility rate of 194%, (ii) discount rate of 1.78%, (iii) zero expected dividend yield, and (iv) expected life of 6 years.

During the period ended March 31, 2016 and 2015, the Company recorded compensation costs of $1.5 million and $1.0 million, respectively, relating to the vesting of stock options. As of March 31, 2016, the aggregate value of unvested options was $12.8 million, which will continue to be amortized as compensation cost as the options vest over terms ranging from nine months to three years, as applicable.

NOTE 6. STOCK OPTIONS AND WARRANTS

Stock Options

A summary of the status of stock options at December 31, 2015, and the changes during the year ended, is presented in the following table:

	Shares Under Option		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2013		93,750	$	109.00		8.5	$	217
Granted		225,000		104.00
Exercised		-
Expired/Forfeited		(40,000)		92.00
Outstanding at December 31, 2013		278,750		23.10		9.1		1,176
Granted		1,604,127		6.58
Exercised		-		-
Expired/Forfeited		(25,000)		125.00
Outstanding at December 31, 2014		1,857,877		7.31		8.5		2,874
Granted		1,171,984		8.12
Exercised		(42,387)		-
Expired/Forfeited		(294,237)		2.88
Outstanding at December 31, 2015		2,693,237	$	8.12		8.02	$	2,347
Exercisable at December 31, 2015		1,099,043	$	8.38		6.93	$	1,487

During the year ended December 31, 2015, the Company granted options to purchase 1,171,984 shares of common stock to employees and directors of the Company. The stock options generally vest between one and three years. The fair value of these options was determined to be $10.1 million using the Black-Scholes option pricing model based on the following assumptions: (i) volatility rate ranging from 207% to 218%, (ii) discount rate of 1.57%, (iii) zero expected dividend yield, and (iv)expected life of 6 years.

During the years ended December 31, 2015, 2014, and 2013, the Company recorded compensation costs of $6.7 million, $2.6 million, and $0.7 million, respectively, relating to the vesting of stock options. As of December 31, 2015, the aggregate value of unvested options was $11.1 million, which will continue to be amortized as compensation cost as the options vest over terms ranging from nine months to three years, as applicable.

On September 19, 2014, the Company’s Board of Directors adopted the Lion Biotechnologies, Inc. 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan was approved by our stockholders at the annual meeting of stockholders held in November 2014. The 2014 Plan as approved by the stockholders authorized the issuance up to an aggregate of 2,350,000 shares of common stock. On April 10, 2015 the Board amended the 2014 Plan to increase the total number of shares that can be issued under the 2014 Plan by 1,650,000 from 2,350,000 shares to 4,000,000 shares. The increase in shares available for issuance under the 2014 Plan was approved by stockholders on June 12, 2015.

Warrants

A summary of the status of stock warrants at December 31, 2015, and the changes during the year then ended, is presented in the following table:

					Weighted
			Weighted		Average		Aggregate
	Shares		Average		Remaining		Intrinsic
	Under		Exercise		Contractual		Value
	Warrants		Price		Life		(in thousands)
Outstanding at January 1, 2013		108,734	$	123.00		3.5	$	-
Issued		12,387,156		2.50
Exercised		-		-
Expired		(122,734)
Outstanding at December 31,2013		12,373,156		2.51		4.1	$	31,056
Issued		-
Exercised		(1,288,730)		2.50
Expired		-
Outstanding at December 31, 2014		11,084,426		2.51		3.9		59,518
Issued		-		-
Exercised		(3,882,210)		2.50
Expired		-		-
Outstanding and exercisable at December 31, 2015		7,202,216	$	2.51		3.3	$	37,596

During the year ended December 31, 2015, the Company received $9.7 million in cash from the exercise of 3,882,210 warrants for the purchase of an equal number of shares of its common stock.

INCOME TAXES

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 7. INCOME TAXES

The Company has no tax provision for any period presented due to our history of operating losses. As of December 31, 2015, the Company had state and federal net operating loss carry forwards of approximately $45 million that may be available to reduce future years' taxable income through 2035. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as management has determined that their realization is not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

Significant components of the Company’s deferred income tax assets are as follows as of (in thousands):

	December 31,
	2015		2014
Deferred income tax asset:
Net operating loss carry forward	$	15,300	$	8,428
Valuation allowance		(15,300)		(8,428)
Net deferred income tax asset	$	-	$	-

Reconciliation of the effective income tax rate to the U.S. statutory rate is as follows:

	Year Ended
	December 31,
	2015			2014			2013
Federal Statutory tax rate		(34)	%		(34)	%		(34)	%
State tax, net of federal benefit		(5)	%		(5)	%		(5)	%
		(39)	%		(39)	%		(39)	%
Valuation allowance		39	%		39	%		39	%
Effective tax rate		-	%		-	%		-	%

The Company adopted accounting rules which address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under these rules, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. These accounting rules also provide guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. As of December 31, 2015, no liability for unrecognized tax benefits was required to be recorded.

LICENSE AND COMMITMENTS

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

LICENSES AND COMMITMENTS

NOTE 6. LICENSE AND COMMITMENTS

National Institutes of Health and the National Cancer Institute

Cooperative Research and Development Agreement

Effective August 5, 2011, the Company signed a Cooperative Research and Development Agreement (CRADA) with the National Institutes of Health and the National Cancer Institute (NCI). Under the terms of the five-year cooperative research and development agreement, the Company will work with Dr. Steven A. Rosenberg, M.D., Ph.D., chief of NCI’s Surgery Branch, to develop adoptive cell immunotherapies that are designed to destroy metastatic melanoma cells using a patient’s tumor infiltrating lymphocytes.

On January 22, 2015, the Company executed an amendment (the “Amendment”) to the CRADA to include four new indications. As amended, in addition to metastatic melanoma, the CRADA now also includes the development of TIL therapy for the treatment of patients with bladder, lung, triple-negative breast, and HPV-associated cancers. Under the Amendment, the NCI also has agreed to provide the Company with samples of all tumors covered by the Amendment for performing studies related to improving TIL selection and/or TIL scale-out production and process development. Although the CRADA has a five year term, either party to the CRADA has the right to terminate the CRADA upon 60 days’ notice to the other party.

Development and Manufacture TIL

Effective October 5, 2011, the Company entered into a Patent License Agreement with the National Institutes of Health, an agency of the United States Public Health Service within the Department of Health and Human Services (“NIH”), which License Agreement was subsequently amended on February 9, 2015 and October 2, 2015. Pursuant to the License Agreement as amended, NIH granted to the Company an exclusive worldwide right and license to develop and manufacture certain proprietary autologous tumor infiltrating lymphocyte adoptive cell therapy products for the treatment of metastatic melanoma, ovarian cancer, breast cancer, and colorectal cancer. The License Agreement requires the Company to pay royalties based on a percentage of net sales (which percentage is in the mid-single digits and subject to certain annual minimum royalty payments), a percentage of revenues from sublicensing arrangements, and lump sum benchmark royalty payments on the achievement of certain clinical and regulatory milestones for each of the various indications and other direct costs incurred by NIH pursuant to the agreement.

Exclusive Patent License Agreement

On February 10, 2015, the Company entered into an exclusive Patent License Agreement with the NIH under which the Company received an exclusive, world-wide license to the NIH’s rights in and to two patent-pending technologies related to methods for improving tumor-infiltrating lymphocytes for adoptive cell therapy. The licensed technologies relate to the more potent and efficient production of TIL from melanoma tumors by selecting for T-cell populations that express various inhibitory receptors. Unless terminated sooner, the license shall remain in effect until the last licensed patent right expires.

In consideration for the exclusive rights granted under the exclusive Patent License Agreement, the Company agreed to pay the NIH a non-refundable upfront licensing fee which was recognized as research and development expense during the year ended December 31, 2015. The Company also agreed to pay customary royalties based on a percentage of net sales (which percentage is in the mid-single digits), a percentage of revenues from sublicensing arrangements, and lump sum benchmark payments upon the successful completion of the Company’s first Phase 2 clinical study, the successful completion of the Company’s first Phase 3 clinical study, the receipt of the first FDA approval or foreign equivalent for a licensed product or process resulting from the licensed technologies, the first commercial sale of a licensed product or process in the United States, and the first commercial sale of a licensed product or process in any foreign country. The Company will also be responsible for all costs associated with the preparation, filing, maintenance and prosecution of the patent applications and patents covered by the License.

H. Lee Moffitt Cancer Center

Research Collaboration Agreement

In September, 2014, we entered into a research collaboration agreement with the H. Lee Moffitt Cancer Center and Research Institute, Inc. to jointly engage in transitional research and development of adoptive tumor-infiltrating lymphocyte cell therapy with improved anti-tumor properties and process.

Exclusive License Agreement

The Company entered into an Exclusive License Agreement (the “Moffitt License Agreement”), effective as of June 28, 2014, with the H. Lee Moffitt Cancer Center and Research Institute, Inc. (“Moffitt”) under which the Company received an exclusive, world-wide license to Moffitt’s rights in and to two patent-pending technologies related to methods for improving tumor-infiltrating lymphocytes for adoptive cell therapy. Unless earlier terminated, the term of the license extends until the earlier of the expiration of the last patent related to the licensed technology or 20 years after the effective date of the license agreement.

Pursuant to the Moffitt License Agreement, the Company paid an upfront licensing fee which was recognized as research and development expense during 2014. A patent issuance fee will also be payable under the Moffitt License Agreement, upon the issuance of the first U.S. patent covering the subject technology. In addition, the Company agreed to pay milestone license fees upon completion of specified milestones, customary royalties based on a specified percentage of net sales (which percentage is in the low single digits) and sublicensing payments, as applicable, and annual minimum royalties beginning with the first sale of products based on the licensed technologies, which minimum royalties will be credited against the percentage royalty payments otherwise payable in that year. The Company will also be responsible for all costs associated with the preparation, filing, maintenance and prosecution of the patent applications and patents covered by the Moffitt License Agreement related to the treatment of any cancers in the United States, Europe and Japan and in other countries selected that the Company and Moffitt agreed to.

During the three months ended March 31, 2016 and 2015, the Company recognized $0.8 million and $0.5 million respectively, of expenses related to its license agreements. The amounts were recorded as part of research and development expenses in the statements of operations. Additionally, during the three months ended March 31, 2016, there were no net sales subject to certain annual minimum royalty payments or sales that would require us to pay a percentage of revenues from sublicensing arrangements. In addition, there were no benchmarks or milestones achieved that would require payment under the lump sum benchmark royalty payments on the achievement of certain clinical regulatory milestones for each of the various indications.

Aggregate guaranteed commitments for 2016, under all of the Company’s license and research agreements, are approximately $2.1 million.

Tampa Lease

In December 2014, the Company commenced a five-year non-cancellable operating lease with the University of South Florida Research Foundation for an approximately 5,200 square foot facility located in Tampa, Florida. The facility is part of the University of South Florida research park and is used as the Company’s research and development facilities. The monthly base rent for this facility during the first year of the lease was $10,443 and will increase by 3% annually. The Company has the option to extend the lease term of this facility for an additional five-year period on the same terms and conditions, except that the base rent for the renewal term will be increased in accordance with the applicable consumer price index.

The minimum lease payments are as follows (in thousands):

Year	Amount
2016 (remaining)	$	114
2017		157
2018		162
2019		167
	$	600

NOTE 8. LICENSES AND COMMITMENTS

National Institutes of Health and the National Cancer Institute

Cooperative Research and Development Agreement

Development and Manufacture TIL

Exclusive Patent License Agreement

H. Lee Moffitt Cancer Center

Research Collaboration Agreement

In September 2014, the Company entered into a research collaboration agreement with the H. Lee Moffitt Cancer Center and Research Institute, Inc. to jointly engage in transitional research and development of adoptive tumor-infiltrating lymphocyte cell therapy with improved anti-tumor properties and process.

Exclusive License Agreement

During the year ended December 31, 2015 and 2014, the Company recognized $3.8 million and $1.4 million respectively, of expenses related to its license agreements. The amounts were recorded as part of research and development expenses in the statement of operations. Additionally, during the years ended December 31, 2015, 2014 and 2013, there were no net sales subject to certain annual minimum royalty payments or sales that would require us to pay a percentage of revenues from sublicensing arrangements. In addition, there were no benchmarks or milestones achieved that would require payment under the lump sum benchmark royalty payments on the achievement of certain clinical regulatory milestones for each of the various indications.

Aggregate guaranteed commitments for 2016, under all of the Company’s license and research agreements, are approximately $2.1 million.

Tampa Lease

In July 2014, the Company entered into a five-year non-cancellable operating lease with the University of South Florida Research Foundation for an approximately 5,200 square foot facility located in Tampa, Florida. The facility is part of the University of South Florida research park and is used as the Company’s research and development facilities. The monthly base rent for this facility during the first year of the lease was $10,443 and will increase by 3% annually. The Company has the option to extend the lease term of this facility for an additional five-year period on the same terms and conditions, except that the base rent for the renewal term will be increased in accordance with the applicable consumer price index.

The minimum lease payments are as follows (in thousands):

Year	Amount
2016	$	152
2017		157
2018		162
2019		167
	$	638

QUARTERLY UNAUDITED RESULTS

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY UNAUDITED RESULTS

NOTE 9. QUARTERLY UNAUDITED RESULTS

The results of operations by quarter for the years ended December 31, 2015 and 2014 are as follow:

	2015								2014
	(in thousands, except per share information)
	Q1		Q2		Q3		Q4		Q1		Q2		Q3		Q4
Revenue	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Net loss	$	(5,298)	$	(6,367)	$	(7,635)	$	(8,360)	$	(2,260)	$	(2,110)	$	(3,014)	$	(4,651)
Net loss per share, basic and diluted	$	(0.14)	$	(0.14)	$	(0.16)	$	(0.18)	$	(0.11)	$	(0.09)	$	(0.11)	$	(0.17)
Weighted average shares used in computing net loss per share, basic and diluted		37,679		45,082		47,272		47,912		20,798		24,138		26,633		28,271

LEGAL PROCEEDINGS

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Loss Contingency [Abstract]

LEGAL PROCEEDINGS

NOTE 7. LEGAL PROCEEDINGS

SEC Settlement. As previously disclosed, on April 23, 2014 we received a subpoena from the SEC that stated that the staff of the SEC was conducting an investigation then designated as In the Matter of Galena Biopharma, Inc. File No. HO 12346 (now known as In the Matter of Certain Stock Promotions) and that the subpoena was issued to the Company as part of the foregoing investigation. The SEC’s subpoena and accompanying letter did not indicate whether we were, or were not, under investigation. We produced documents in response to the subpoena and have since fully cooperated with the SEC’s investigation.

We have recently been informed by the Staff of the SEC that the SEC’s investigation, in part, involves the conduct of our former Chief Executive Officer, Manish singh, during the period between September 2013 and April 2014. We understand that, as it pertains to the Company’s former Chief Executive Officer, the investigation has focused on the failure by authors of certain articles about the Company to disclose that they were compensated by one of our former investor relations firms. We understand that it is the position of the SEC Staff that the conduct of our former Chief Executive Officer with respect to these articles may be imputed to the Company.

In order to resolve this matter, we have agreed with the Staff of the SEC to a proposed settlement framework under which we would consent to the entry of an order requiring that we cease and desist from any future violations of certain provisions of the federal securities laws, without admitting or denying any allegations. We are currently discussing with the Staff of the SEC whether the proposed settlement will involve the payment of a financial penalty. Because we do not yet know whether a financial penalty will be part of the proposed settlement and, if so, the amount of the financial penalty, we have not accrued a liability related to this matter. The proposed settlement is contingent upon reaching agreement with the Staff of the SEC on a complete set of settlement terms and approval by the Commissioners of the SEC, neither of which can be assured.

Solomon Capital, LLC. On April 8, 2016, a lawsuit titled Solomon Capital, LLC, Solomon Capital 401(K) Trust, Solomon Sharbat and Shelhav Raff against Lion Biotechnologies, Inc. was filed by Solomon Capital, LLC, Solomon Capital 401(k) Trust, Solomon Sharbat and Shelhav Raff against the company in the Supreme Court of the State of New York County of New York (index no. 651881/2016). The plaintiffs allege that, between June and November 2012 they provided us with $52,850 and that they advanced and paid on our behalf an additional $170,000. The complaint further alleges that we agreed to (i) provide them with promissory notes totaling $222,850, plus interest, (ii) issue a total of 111,425 shares to the plaintiffs (before the 1-for-100 reverse stock effected in September 2013), and (iii) allow the plaintiffs to convert the foregoing funds into our securities in the next transaction. The plaintiffs allege that they should have been able to convert their advances and payments into shares of our common stock in the restructuring and reorganization that we effected in May 2013. Based on the foregoing, the plaintiffs allege causes for breach of contract and unjust enrichment and demand judgment against us in an unspecified amount exceeding $1,500,000, plus interest and attorneys’ fees. We have begun our investigation of the allegations made by the plaintiffs and intend to vigorously defend this matter.

NOTE 10. LEGAL PROCEEDINGS

On April 23, 2014, the Company received a subpoena from the Securities Exchange Commission (the “SEC”) that stated that the staff of the SEC is conducting an investigation In the Matter of Galena Biopharma, Inc. File No. HO 12356 (now known as “In the Matter of Certain Stock Promotions”) and that the subpoena was issued to the Company as part of the foregoing investigation. The SEC’s subpoena and accompanying letter did not indicate whether the Company is, or is not, under investigation. We have cooperated with the SEC and have completed our production of documents in response to the subpoena. To date, the SEC has not requested any further information from us. Nevertheless, the SEC may in the future require us to produce additional documents or other materials.

The subpoena required us to give the SEC certain documents regarding, and communications between, anyone at this company and certain listed persons and entities (which include investor-relations firms and persons associated with the investor-relations firms), and articles regarding this company posted on certain equity research or other financial websites. We believe that the SEC is investigating improper conduct relative to the payment of bloggers and other authors for promotional articles written about public companies. A number of articles have been written about us that may be available on the internet and elsewhere. Investors considering an investment in our securities should review this Annual Report and the other documents that we filed with the SEC rather than relying on internet blogs or other similar articles and publications.

Although we are unaware of the exact scope or timing of the SEC’s investigation, it is our understanding that the investigation is ongoing. We do not know when the investigation will be concluded or to what extent we will be further involved. If we receive additional subpoenas or other requests for documents from the SEC it is our intention to fully cooperate with the SEC. Complying with any such future requests could distract the time and attention of our officers and directors or divert our resources away from research and development programs. Furthermore, we, and our former officers and directors, may be the subject of the SEC’s investigation. Any such investigation could result in significant legal expenses, the diversion of management’s attention from our business, damage to our business and reputation, and could subject us to a wide range of remedies, including an SEC enforcement action and potential financial penalties required by the SEC.

There are no other pending legal proceedings to which the Company is a party or of which its property is the subject.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14472-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12021-110248

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14326-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14394-108349

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14557-108349

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12053-110248

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14453-108349

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14615-108349

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Policies)

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Accounting Policies [Abstract]

Cash and Cash Equivalents

Cash and Cash Equivalents

Short-term Investments

Short-term Investments

Property and Equipment

Property and Equipment

Computer equipment	2 years
Office furniture and equipment	5 years
Lab equipment	2 years
Leasehold improvements	5 years

Loss per Share

Loss per Share

Basic earnings (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Shares of restricted stock are included in the basic weighted average number of common shares outstanding from the time they vest. Diluted earnings (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. Shares of restricted stock are included in the diluted weighted average number of common shares outstanding from the date they are granted unless they are antidilutive. For the years ended December 31, 2015, 2014, and 2013, the calculations of basic and diluted loss per share are the same because inclusion of potential dilutive securities in the computation would have an anti-dilutive effect due to the net losses.

Fair Value Measurements

Fair Value Measurements

The fair valued assets we hold that are generally included under this Level 1 are money market securities where fair value is based on publicly quoted prices.

We do not have fair valued assets classified under Level 3.

Fair Value Measurements

The fair valued assets we hold that are generally included under this Level 1 are money market securities where fair value is based on publicly quoted prices.

We do not have fair valued assets classified under Level 3.

Fair Value on a Recurring Basis

Fair Value on a Recurring Basis

Financial assets measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations (in thousands):

	Assets at Fair Value as of March 31, 2016
	Level 1		Level 2		Level 3		Total
Corporate debt securities	$	-	$	60,251	$	-	$	60,251
Total	$	-	$	60,251	$	-	$	60,251

	Assets at Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total
Money market funds	$	19,945	$	-	$	-	$	19,945
Corporate debt securities		-		70,113		-		70,113
Total	$	19,945	$	70,113	$	-	$	90,058

Fair Value on a Recurring Basis

Financial assets measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations (in thousands):

	Assets at Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total
Money market funds	$	19,945	$		$	-	$	19,945
Corporate debt securities				70,113		-		70,113
Total	$	19,945	$	70,113	$	-	$	90,058

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include accounting for potential liabilities and the assumptions made in valuing stock instruments issued for services.

Stock-Based Compensation

Stock-Based Compensation

Total stock-based compensation expense related to all of our stock-based awards was as follows (in thousands):

	For the Three Months Ended March 31,
	2016		2015
Research and development	$	585	$	387
General and administrative		1,194		1,080
Total stock-based compensation expense	$	1,779	$	1,467

Stock-Based Compensation

Total stock-based compensation expense related to all of our stock-based awards was as follows (in thousands):

	For the Years Ended December 31,
	2015		2014		2013
Research and development	$	2,248	$	1,144	$	825
General and administrative		6,275		2,670		1,925
Total stock-based compensation expense	$	8,523	$	3,814	$	2,750

Research and Development

Research and Development

Income taxes

Income taxes

Concentrations

Concentrations

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash.

Concentrations

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash.

The Company maintains cash balances at one bank. At times, the amount on deposit exceeds the federally insured limits. Management believes that the financial institution that holds the Company’s cash is financially sound and, accordingly, minimal credit risk exists. As of December 31, 2015 and 2014, the Company’s cash balances were in excess of insured limits maintained at the bank.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Reclassifications

Reclassifications

Subsequent Events

Subsequent Events

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Accounting Policies [Abstract]

Schedule of Assets Measured at Fair Value

Financial assets measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations (in thousands):

	Assets at Fair Value as of March 31, 2016
	Level 1		Level 2		Level 3		Total
Corporate debt securities	$	-	$	60,251	$	-	$	60,251
Total	$	-	$	60,251	$	-	$	60,251

	Assets at Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total
Money market funds	$	19,945	$	-	$	-	$	19,945
Corporate debt securities		-		70,113		-		70,113
Total	$	19,945	$	70,113	$	-	$	90,058

Financial assets measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations (in thousands):

	Assets at Fair Value as of December 31, 2015
	Level 1		Level 2		Level 3		Total
Money market funds	$	19,945	$		$	-	$	19,945
Corporate debt securities				70,113		-		70,113
Total	$	19,945	$	70,113	$	-	$	90,058

Schedule of Stock-Based Compensation

Total stock-based compensation expense related to all of our stock-based awards was as follows (in thousands):

	For the Three Months Ended March 31,
	2016		2015
Research and development	$	585	$	387
General and administrative		1,194		1,080
Total stock-based compensation expense	$	1,779	$	1,467

Total stock-based compensation expense related to all of our stock-based awards was as follows (in thousands):

	For the Years Ended December 31,
	2015		2014		2013
Research and development	$	2,248	$	1,144	$	825
General and administrative		6,275		2,670		1,925
Total stock-based compensation expense	$	8,523	$	3,814	$	2,750

CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Schedule of Cash, Money Market Funds and Short-Term Investments

Cash, money market funds, and short-term investments consist of the following (in thousands):

	March 31,		December 31,
	2016		2015
Checking and savings accounts (reported as cash and cash equivalents)	$	8,943	$	13,642
Money market funds		29,972		19,945
Corporate debt securities (reported as short-term investments)		60,251		70,113
	$	99,166	$	103,700

Cash, money market funds, and short-term investments consist of the following (in thousands):

	December 31,
	2015		2014
Checking and savings accounts (reported as cash and cash equivalents)	$	13,642	$	44,909
Money market funds		19,945		-
Corporate debt securities (reported as short-term investments)		70,113		-
	$	103,700	$	44,909

Schedule of Unrealized Gains and Losses

Money market funds and short-term investments include the following securities with gross unrealized gains and losses (in thousands):

			Gross		Gross
			Unrealized		Unrealized
March 31, 2016	Cost		Gains		Losses		Fair Value
Money market funds	$	29,972	$	-	$	-	$	29,972
Corporate debt securities		60,183		68		-		60,251
Total	$	90,155	$	68	$	-	$	90,223

			Gross		Gross
			Unrealized		Unrealized
December 31, 2015	Cost		Gains		Losses		Fair Value
Money market funds	$	19,945	$	-	$	-	$	19,945
Corporate debt securities		70,065		48		-		70,113
Total	$	90,010	$	48	$	-	$	90,058

Money market funds and short-term investments include the following securities with gross unrealized gains and losses (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized
December 31, 2015	Cost		Gains		Losses		Fair Value
Money market funds	$	19,945	$	-	$	-	$	19,945
Corporate debt securities		70,065		48		-		70,113

Total	$	90,010	$	48	$	-	$	90,058

Schedule of Contractual Maturities

As of March 31, 2016, the contractual maturities of our money market funds and short-term investments were (in thousands):

	Within One
	Year
Money market funds	$	29,972
Corporate debt securities		60,251
	$	90,223

As of December 31, 2015, the contractual maturities of our money market funds and short-term investments were (in thousands):

	Within One
	Year
Money market funds	$	19,945
Corporate debt securities		70,113
	$	90,058

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property and equipment consisted of the following (in thousands):

	December 31,
	2015		2014
Lab equipment	$	1,703	$	689
Computer equipment		85		72
Office furniture and equipment		138		113
Leasehold improvements		853		762
Total Property and equipment, cost		2,779		1,636
Less: Accumulated depreciation and amortization		(1,103)		(104)
Property and equipment, net	$	1,676	$	1,532

STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Schedule of Restricted Stock Activity

The following table summarizes restricted common stock activity:

	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested shares, January 1, 2016		321,252	$	6.96
Granted
Vested		(73,126)		6.40
Forfeited		-		-
Non-vested shares, March 31, 2016		248,126	$	7.13

The following table summarizes restricted common stock activity:

			Weighted
			Average
	Number of		Grant Date
	Shares		Fair Value
Non-vested shares, January 1, 2014		-	$	-
Granted		782,500		7.04
Vested		-		-
Forfeited		-		-
Non-vested shares, December 31, 2014		782,500		7.04
Granted		15,000		8.44
Vested		(284,748)		4.31
Forfeited		(191,500)		6.81
Non-vested shares, December 31, 2015		321,252	$	6.96

STOCK OPTIONS AND WARRANTS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

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

Schedule of Status of Stock Options

A summary of the status of stock options at March 31, 2016, and the changes during the three months then ended, is presented in the following table:

					Weighted
			Weighted		Average		Aggregate
	Shares		Average		Remaining		Intrinsic
	Under		Exercise		Contractual		Value
	Option		Price		Life		(in thousands)
Outstanding at January 1, 2016		2,693,237	$	8.12		8.02	$	2,347
Granted		986,422		5.02		9.9
Exercised		-		-		-		-
Expired/Forfeited		(312,530)		8.01		-		-
Outstanding at March 31, 2016		3,367,129	$	7.15		8.87	$	185
Exercisable at March 31, 2016		1,151,221	$	8.26		7.82	$	24

A summary of the status of stock options at December 31, 2015, and the changes during the year ended, is presented in the following table:

	Shares Under Option		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2013		93,750	$	109.00		8.5	$	217
Granted		225,000		104.00
Exercised		-
Expired/Forfeited		(40,000)		92.00
Outstanding at December 31, 2013		278,750		23.10		9.1		1,176
Granted		1,604,127		6.58
Exercised		-		-
Expired/Forfeited		(25,000)		125.00
Outstanding at December 31, 2014		1,857,877		7.31		8.5		2,874
Granted		1,171,984		8.12
Exercised		(42,387)		-
Expired/Forfeited		(294,237)		2.88
Outstanding at December 31, 2015		2,693,237	$	8.12		8.02	$	2,347
Exercisable at December 31, 2015		1,099,043	$	8.38		6.93	$	1,487

Schedule of Status of Stock Warrants

A summary of the status of stock warrants at December 31, 2015, and the changes during the year then ended, is presented in the following table:

					Weighted
			Weighted		Average		Aggregate
	Shares		Average		Remaining		Intrinsic
	Under		Exercise		Contractual		Value
	Warrants		Price		Life		(in thousands)
Outstanding at January 1, 2013		108,734	$	123.00		3.5	$	-
Issued		12,387,156		2.50
Exercised		-		-
Expired		(122,734)
Outstanding at December 31,2013		12,373,156		2.51		4.1	$	31,056
Issued		-
Exercised		(1,288,730)		2.50
Expired		-
Outstanding at December 31, 2014		11,084,426		2.51		3.9		59,518
Issued		-		-
Exercised		(3,882,210)		2.50
Expired		-		-
Outstanding and exercisable at December 31, 2015		7,202,216	$	2.51		3.3	$	37,596

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred income tax assets are as follows as of (in thousands):

	December 31,
	2015		2014
Deferred income tax asset:
Net operating loss carry forward	$	15,300	$	8,428
Valuation allowance		(15,300)		(8,428)
Net deferred income tax asset	$	-	$	-

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation of the effective income tax rate to the U.S. statutory rate is as follows:

	Year Ended
	December 31,
	2015			2014			2013
Federal Statutory tax rate		(34)	%		(34)	%		(34)	%
State tax, net of federal benefit		(5)	%		(5)	%		(5)	%
		(39)	%		(39)	%		(39)	%
Valuation allowance		39	%		39	%		39	%
Effective tax rate		-	%		-	%		-	%

LICENSE AND COMMITMENTS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of Recorded Unconditional Purchase Obligations

The minimum lease payments are as follows (in thousands):

Year	Amount
2016 (remaining)	$	114
2017		157
2018		162
2019		167
	$	600

The minimum lease payments are as follows (in thousands):

Year	Amount
2016	$	152
2017		157
2018		162
2019		167
	$	638

QUARTERLY UNAUDITED RESULTS (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The results of operations by quarter for the years ended December 31, 2015 and 2014 are as follow:

	2015								2014
	(in thousands, except per share information)
	Q1		Q2		Q3		Q4		Q1		Q2		Q3		Q4
Revenue	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Net loss	$	(5,298)	$	(6,367)	$	(7,635)	$	(8,360)	$	(2,260)	$	(2,110)	$	(3,014)	$	(4,651)
Net loss per share, basic and diluted	$	(0.14)	$	(0.14)	$	(0.16)	$	(0.18)	$	(0.11)	$	(0.09)	$	(0.11)	$	(0.17)
Weighted average shares used in computing net loss per share, basic and diluted		37,679		45,082		47,272		47,912		20,798		24,138		26,633		28,271

GENERAL ORGANIZATION AND BUSINESS (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended						3 Months Ended									12 Months Ended
	Mar. 03, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 22, 2014	Nov. 30, 2013	Sep. 30, 2013	Jul. 31, 2013	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 26, 2013	Dec. 31, 2012
Net Income (Loss) Attributable to Parent, Total								$ (6,884)	$ (8,360)	$ (7,635)	$ (6,367)	$ (5,298)	$ (4,651)	$ (3,014)	$ (2,110)	$ (2,260)	$ (27,660)	$ (12,035)	$ (25,382)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total								(4,552)				$ (3,459)					(18,381)	(8,633)	(3,661)
Cash, Cash Equivalents, and Short-term Investments, Total			$ 44,909					99,166	103,700				44,909				103,700	44,909
Stockholders' Equity Attributable to Parent, Total			$ 44,845					98,938	104,023				$ 44,845				104,023	$ 44,845	17,603		$ (11,319)
Working Capital								97,500	$ 102,300								102,300
Stock Issued During Period, Shares, New Issues		9,200,000	6,000,000
Share Price		$ 8.00	$ 5.75									$ 8.00	$ 5.75					$ 5.75
Proceeds from Issuance of Common Stock		$ 68,300		$ 32,200				$ 0				$ 68,308					$ 68,307	$ 32,240	7,126
Proceeds from Issuance of Private Placement					$ 23,300
Stockholders' Equity, Reverse Stock Split						1-for-100
Common Stock, Shares Authorized			150,000,000					150,000,000	150,000,000				150,000,000				150,000,000	150,000,000		150,000
Preferred Stock, Shares Authorized			50,000,000					50,000,000	50,000,000				50,000,000				50,000,000	50,000,000		50,000,000
Preferred Stock, Par or Stated Value Per Share			$ 0.001					$ 0.001	$ 0.001				$ 0.001				$ 0.001	$ 0.001		$ 0.001
Minimum [Member]
Cash, Period Increase (Decrease), Total								$ 30,000
Maximum [Member]
Cash, Period Increase (Decrease), Total								35,000
Common Stock [Member]
Stockholders' Equity Attributable to Parent, Total			$ 2					$ 2	$ 2				$ 2				$ 2	$ 2	$ 1		$ 0
Stock Issued During Period, Shares, New Issues	9,200,000			6,000,000			1,340,000										9,200,000
Share Price	$ 8.00			$ 5.75
Stockholders' Equity, Reverse Stock Split						On September 26, 2013, we amended and restated our Articles of Incorporation to, among other things, change our name to Lion Biotechnologies, Inc., effect a 1-for-100 reverse stock split (pro-rata reduction of outstanding shares) of our common stock

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets, fair value	$ 60,251	$ 90,058
Corporate Debt Securities [Member]
Assets, fair value	60,251	70,113
Money Market Funds [Member]
Assets, fair value		19,945
Fair Value, Inputs, Level 1 [Member]
Assets, fair value	0	19,945
Fair Value, Inputs, Level 1 [Member] \| Corporate Debt Securities [Member]
Assets, fair value	0	0
Fair Value, Inputs, Level 1 [Member] \| Money Market Funds [Member]
Assets, fair value		19,945
Fair Value, Inputs, Level 2 [Member]
Assets, fair value	60,251	70,113
Fair Value, Inputs, Level 2 [Member] \| Corporate Debt Securities [Member]
Assets, fair value	60,251	70,113
Fair Value, Inputs, Level 3 [Member]
Assets, fair value	0	0
Fair Value, Inputs, Level 3 [Member] \| Corporate Debt Securities [Member]
Assets, fair value	$ 0	0
Fair Value, Inputs, Level 3 [Member] \| Money Market Funds [Member]
Assets, fair value		$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Details 1) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total	$ 1,779	$ 1,467	$ 8,523	$ 3,814	$ 2,750
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total	585	387	2,248	1,144	825
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total	$ 1,194	$ 1,080	$ 6,275	$ 2,670	$ 1,925

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Details Textual) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reclassification Of Stock Based Compensation Cost		$ 0.3		$ 1.1	$ 0.8
Stock Option Shares Outstanding	3,367,129	1,907,877	2,693,237	1,857,877	278,750
Class of Warrant or Right, Outstanding	7,202,216	10,162,726	7,202,216	11,084,426	12,373,156
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life			2 years
Office Furniture and Equipment [Member]
Property, Plant and Equipment, Useful Life			5 years
Lab Equipment [Member]
Property, Plant and Equipment, Useful Life			2 years
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life			5 years
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	847,000	1,847,000	847,000	2,847,000	0

CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Checking and savings accounts (reported as cash and cash equivalents)	$ 8,943	$ 13,642	$ 111,280	$ 44,909	$ 19,672	$ 0
Money market funds	29,972	19,945		0
Corporate debt securities (reported as short-term investments)	60,251	70,113		0
Total	$ 99,166	$ 103,700		$ 44,909

- Definition

Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable.

+ References + Details

CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS (Details 1) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Amortized Cost	$ 90,155	$ 90,010
Gross Unrealized Gains	68	48
Gross Unrealized Losses	0	0
Fair Value	90,223	90,058
Corporate Debt Securities [Member]
Amortized Cost	60,183	70,065
Gross Unrealized Gains	68	48
Gross Unrealized Losses	0	0
Fair Value	60,251	70,113
Money Market Funds [Member]
Amortized Cost	29,972	19,945
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 29,972	$ 19,945

CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS (Details 2) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Money market funds	$ 29,972	$ 19,945	$ 0
Corporate debt securities	60,251	70,113	$ 0
Total	$ 90,223	$ 90,058

CASH, MONEY MARKET FUNDS, AND SHORT-TERM INVESTMENTS (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Available-for-sale Securities, Total	$ 60,251	$ 70,113	$ 0
Money Market Funds, at Carrying Value	$ 29,972	$ 19,945	$ 0
Money Market Funds And Short Term Investment Weighted Average Time To Maturity	85 days	66 days
Short-term Investments [Member] \| Five Companies [Member]
Concentration Risk, Percentage	50.00%	43.00%
Short-term Investments [Member] \| Various Other Domestic Issuers [Member]
Concentration Risk, Percentage	44.00%	37.00%
Short-term Investments [Member] \| Foreign Issuer [Member]
Concentration Risk, Percentage	6.00%	20.00%

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Total Property and equipment, cost		$ 2,779	$ 1,636
Less: Accumulated depreciation and amortization	$ (1,372)	(1,103)	(104)
Property and equipment, net	$ 1,409	1,676	1,532
Lab Equipment [Member]
Total Property and equipment, cost		1,703	689
Computer Equipment [Member]
Total Property and equipment, cost		85	72
Office Furniture and Equipment [Member]
Total Property and equipment, cost		138	113
Leasehold Improvements [Member]
Total Property and equipment, cost		$ 853	$ 762

PROPERTY AND EQUIPMENT (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Depreciation, Total	$ 999	$ 88	$ 7

STOCKHOLDER'S EQUITY (Details) - $ / shares	3 Months Ended	12 Months Ended
STOCKHOLDER'S EQUITY (Details) - $ / shares	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Shares
Non-vested shares, Beginning Balance	321,252	782,500	0
Granted		15,000	782,500
Vested	(73,126)	(284,748)	0
Forfeited	0	(191,500)	0
Non-vested shares, Ending Balance	248,126	321,252	782,500
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning Balance	$ 6.96	$ 7.04	$ 0
Granted		8.44	7.04
Vested	6.40	4.31	0
Forfeited	0	6.81	0
Weighted Average Grant Date Fair Value, Ending Balance	$ 7.13	$ 6.96	$ 7.04

STOCKHOLDERS' EQUITY (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended					3 Months Ended			12 Months Ended
	May 06, 2015	Mar. 03, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 22, 2014	Jul. 31, 2013	May 31, 2013	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 26, 2013
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			9,200,000	6,000,000
Share Price			$ 8.00	$ 5.75					$ 8.00			$ 5.75
Proceeds from Issuance of Common Stock			$ 68,300		$ 32,200			$ 0	$ 68,308		$ 68,307	$ 32,240	$ 7,126
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period											15,000	782,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period								73,126			284,748	0
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period											3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term											2 years 3 months
Cancellation Of Vested Shares								41,193			148,565
Aggregate Fair Value Cost of Induce Exchange Transaction													$ 2,200
Stock Issued During Period, Value, New Issues											$ 68,307
Preferred Stock, Par or Stated Value Per Share				$ 0.001				$ 0.001			$ 0.001	$ 0.001		$ 0.001
Proceeds from Issuance Initial Public Offering												$ 32,200
Warrant To Acquired													122,734
Board of Directors Chairman [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	4,750,000
Share Price	$ 10.00
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		9,200,000			6,000,000	1,340,000					9,200,000
Share Price		$ 8.00			$ 5.75
Stock Issued During Period, Value, New Issues						$ 6,700
Common Stock [Member] \| Issuance Of Common Stock Upon Conversion Of Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Issued											4,000	11,306
Conversion of Stock, Shares Converted											2,000,000	5,653,000
Conversion of Stock, Description											The common shares issued were determined on a formula basis of 500 common shares for each share of Series A Convertible Preferred Stock converted.
Investor [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues							2,173,134
Stock Issued During Period, Value, New Issues							$ 2,100
Two Owners [Member]
Class of Stock [Line Items]
Aggregate Fair Value Cost of Induce Exchange Transaction													$ 16,600
Two Owners [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues										1,350,000
Stock Issued During Period, Value, New Issues										$ 9,900
Creditor [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues							122,734
Stock Issued During Period, Value, New Issues							$ 100
Restricted Stock [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period												782,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested											$ 4,300
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period											797,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value											$ 1,700	$ 1,300
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options											$ 1,300
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Issued											500
Series A Convertible Preferred Stock [Member] \| Private Placement [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues											17,000
Sale of Stock, Price Per Share											$ 2.00
Preferred Stock, Par or Stated Value Per Share											$ 1,000

STOCK OPTIONS AND WARRANTS (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Shares Under Option
Outstanding, beginning balance	2,693,237	1,857,877	278,750	93,750
Granted	986,422	1,171,984	1,604,127	225,000
Exercised	0	(42,387)	0	0
Expired/Forfeited	(312,530)	(294,237)	(25,000)	(40,000)
Outstanding, ending balance	3,367,129	2,693,237	1,857,877	278,750	93,750
Exercisable	1,151,221	1,099,043
Weighted Average Exercise Price
Outstanding, beginning balance	$ 8.12	$ 7.31	$ 23.10	$ 109.00
Granted	5.02	8.12	6.58	104.00
Exercised	0	0	0
Expired/Forfeited	8.01	2.88	125.00	92.00
Outstanding, ending balance	7.15	8.12	$ 7.31	$ 23.10	$ 109.00
Exercisable	$ 8.26	$ 8.38
Weighted Average Remaining Contractual Life
Outstanding	8 years 10 months 13 days	8 years 7 days	8 years 6 months	9 years 1 month 6 days	8 years 6 months
Granted	9 years 10 months 24 days
Expired/Forfeited	0 years
Exercisable	7 years 9 months 25 days	6 years 11 months 5 days
Aggregate Intrinsic Value
Outstanding, beginning balance	$ 2,347	$ 2,874	$ 1,176	$ 217
Expired/Forfeited	0
Outstanding, ending balance	185	2,347	$ 2,874	$ 1,176	$ 217
Exercisable	$ 24	$ 1,487

STOCK OPTIONS AND WARRANTS (Details 1) - Warrant [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Shares Under Warrants
Outstanding, beginning balance	11,084,426	12,373,156	108,734
Issued	0	0	12,387,156
Exercised	(3,882,210)	(1,288,730)	0
Expired	0	0	(122,734)
Outstanding, ending balance	7,202,216	11,084,426	12,373,156	108,734
Weighted Average Exercise Price
Outstanding, beginning balance	$ 2.51	$ 2.51	$ 123.00
Issued	0		2.50
Exercised	2.5	2.50	0
Expired	0
Outstanding, ending balance	$ 2.51	$ 2.51	$ 2.51	$ 123.00
Weighted Average Remaining Contractual Life
Outstanding	3 years 3 months 18 days	3 years 10 months 24 days	4 years 1 month 6 days	3 years 6 months
Aggregate Intrinsic Value
Outstanding, beginning balance	$ 59,518	$ 31,056	$ 0
Outstanding, ending balance	$ 37,596	$ 59,518	$ 31,056	$ 0

STOCK OPTIONS AND WARRANTS (Details Textual) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Apr. 10, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Nov. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense		$ 1,500	$ 1,000	$ 6,700	$ 2,600	$ 700
Proceeds from Warrant Exercises		0	$ 2,304	9,705	$ 3,222	$ 0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options		$ 12,800		$ 11,100
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				0	0	12,387,156
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				3,882,210	1,288,730	0
2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized							2,350,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	1,650,000
2014 [Member] \| Shares Issued Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				4,000,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		986,422		1,171,984
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 4,800		$ 10,100
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum		194.00%		218.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum		1.78%		1.57%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term		6 years		6 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum				207.00%

INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred income tax asset:
Net operating loss carry forward	$ 15,300	$ 8,428
Valuation allowance	(15,300)	(8,428)
Net deferred income tax asset	$ 0	$ 0

INCOME TAXES (Details 1)	12 Months Ended
INCOME TAXES (Details 1)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Federal Statutory tax rate	(34.00%)	(34.00%)	(34.00%)
State tax, net of federal benefit	(5.00%)	(5.00%)	(5.00%)
Effective Income Tax Rate Reconciliation Expected Rate Total	(39.00%)	(39.00%)	(39.00%)
Valuation allowance	39.00%	39.00%	39.00%
Effective tax rate	0.00%	0.00%	0.00%

INCOME TAXES (Details Textual) $ in Millions	Dec. 31, 2015 USD ($)
Income Tax Contingency [Line Items]
Tax Credit Carryforward, Amount	$ 45

LICENSE AND COMMITMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
2016 (remaining)	$ 114	$ 152
2017	157	157
2018	162	162
2019	167	167
Total	$ 600	$ 638

LICENSE AND COMMITMENTS (Details Textual)	1 Months Ended	3 Months Ended		12 Months Ended
LICENSE AND COMMITMENTS (Details Textual)	Jul. 31, 2014 USD ($) a	Mar. 31, 2016 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) ft²
License And Commitments [Line Items]
License Costs		$ 800,000	$ 500,000	$ 3,800,000	$ 1,400,000
License and Research Agreements [Member]
License And Commitments [Line Items]
Contractual Obligation, Due in Next Fiscal Year		$ 2,100,000		$ 2,100,000
Tampa Lease [Member]
License And Commitments [Line Items]
Area of Land	5,200				5,200
Operating Leases, Rent Expense	$ 10,443				$ 10,443
Percentage Of Increase In Lease Rent	3.00%				3.00%

QUARTERLY UNAUDITED RESULTS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended									12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Net loss	$ (6,884)	$ (8,360)	$ (7,635)	$ (6,367)	$ (5,298)	$ (4,651)	$ (3,014)	$ (2,110)	$ (2,260)	$ (27,660)	$ (12,035)	$ (25,382)
Net loss per share, basic and diluted	$ (0.14)	$ (0.18)	$ (0.16)	$ (0.14)	$ (0.14)	$ (0.17)	$ (0.11)	$ (0.09)	$ (0.11)	$ (0.62)	$ (0.48)	$ (3.47)
Weighted average shares used in computing net loss per share, basic and diluted	48,547,534	47,912	47,272	45,082	37,678,662	28,271	26,633	24,138	20,798	44,410,036	24,985,542	9,762,513

- Definition

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

+ References + Details

LEGAL PROCEEDINGS (Details Textual)	1 Months Ended			3 Months Ended
LEGAL PROCEEDINGS (Details Textual)	Sep. 30, 2013	Nov. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)	Mar. 31, 2016 USD ($)	Apr. 08, 2016 USD ($)
Stockholders' Equity, Reverse Stock Split	1-for-100
Solomon Capital, LLC [Member]
Proceeds from Related Party Debt		$ 170,000	$ 52,850
Debt Instrument, Convertible, Number of Equity Instruments				111,425
Solomon Capital, LLC [Member] \| Subsequent Event [Member]
Loss Contingency, Range of Possible Loss, Minimum					$ 1,500,000
Solomon Capital, LLC [Member] \| Commercial Paper [Member]
Debt Instrument, Face Amount				$ 222,850