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Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2018	Apr. 30, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Entity Registrant Name	IOVANCE BIOTHERAPEUTICS, INC.
Entity Central Index Key	0001425205
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	IOVA
Entity Common Stock, Shares Outstanding		89,642,915

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 297,082	$ 145,373
Prepaid expenses and other assets	5,644	3,917
Total Current Assets	302,726	149,290
Property and equipment, net	2,247	2,450
Long-term assets	2,275	3,633
Total Assets	307,248	155,373
Current Liabilities
Accounts payable	6,576	1,232
Accrued expenses	8,114	8,660
Total Current Liabilities	14,690	9,892
Commitments and contingencies (Note 9)
Stockholders' Equity
Common stock, $0.000041666 par value; 150,000,000 shares authorized, 89,615,417 and 73,164,914 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	3	3
Additional paid-in capital	568,243	394,651
Accumulated deficit	(275,695)	(249,180)
Total Stockholders’ Equity	292,558	145,481
Total Liabilities and Stockholders’ Equity	307,248	155,373
Series A Convertible Preferred stock [Member]
Stockholders' Equity
Preferred stock, Value	0	0
Series B Convertible Preferred stock [Member]
Stockholders' Equity
Preferred stock, Value	$ 7	$ 7

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Common Stock, Par or Stated Value Per Share	$ 0.000041666	$ 0.000041666
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Shares, Issued	89,615,417	73,164,914
Common Stock, Shares, Outstanding	89,615,417	73,164,914
Series A Convertible Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	17,000	17,000
Preferred Stock, Shares Issued	1,694	1,694
Preferred Stock, Shares Outstanding	1,694	1,694
Preferred Stock, Redemption Amount	$ 1,694	$ 1,694
Series B Convertible Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	11,500,000	11,500,000
Preferred Stock, Shares Issued	7,378,241	7,378,241
Preferred Stock, Shares Outstanding	7,378,241	7,378,241
Preferred Stock, Redemption Amount	$ 35,047	$ 35,047

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues	$ 0	$ 0
Costs and expenses
Research and development expenses	19,912	15,593
General and administrative expenses	6,965	5,289
Total costs and expenses	26,877	20,882
Loss from operations	(26,877)	(20,882)
Other income
Interest income	362	198
Net Loss	$ (26,515)	$ (20,684)
Net Loss Per Common Share, Basic and Diluted	$ (0.31)	$ (0.33)
Weighted-Average Common Shares Outstanding, Basic and Diluted	84,350	62,286

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operating Activities
Net loss	$ (26,515)	$ (20,684)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	228	221
Loss on disposal of assets	9	0
Amortization of discount on investments	0	28
Stock-based compensation expense	4,104	3,296
Changes in assets and liabilities:
Prepaid expenses and other assets	(368)	(2,354)
Accounts payable	5,239	1,466
Accrued expenses	(546)	(776)
Net cash used in operating activities	(17,849)	(18,803)
Cash Flows From Investing Activities
Maturities of short- term investments	0	19,600
Purchase of property and equipment	(22)	(798)
Net cash (used in) provided by investing activities	(22)	18,802
Cash Flows From Financing Activities
Tax payments related to shares withheld for vested restricted stock awards	(62)	(4)
Proceeds from the issuance of common stock upon exercise of warrants	1,826	156
Proceeds from the issuance of common stock upon exercise of options	5,630	231
Proceeds from the issuance of common stock, net	162,186	0
Net cash provided by financing activities	169,580	383
Net increase in cash and cash equivalents	151,709	382
Cash and Cash Equivalents, Beginning of Period	145,373	106,717
Cash and Cash Equivalents, End of Period	297,082	107,099
Supplemental disclosure of non-cash investing and financing activities:
Unrealized loss on short-term investments	0	(27)
Acquisitions of property and equipment under accounts payable	(12)	(155)
Offering costs included in accounts payable	$ (93)	$ 0

GENERAL ORGANIZATION AND BUSINESS

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GENERAL ORGANIZATION AND BUSINESS

NOTE 1. GENERAL ORGANIZATION AND BUSINESS

Iovance Biotherapeutics, Inc. (the “Company,” “we,” “us” or “our”) is a biopharmaceutical company focused on the development and commercialization of novel cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. Our lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes, or TIL, which are T cells derived from patients’ tumors. TIL therapy is a platform technology that has already been studied for the treatment of metastatic melanoma and metastatic cervical cancer by the National Cancer Institute, or NCI. We are investigating the effectiveness and safety of TIL therapy for the treatment of metastatic melanoma, squamous cell carcinoma of the head and neck, cervical carcinoma, and metastatic non-small cell lung cancer, as well as other oncology indications. On June 1, 2017, the Company reincorporated to become a Company governed by Delaware corporation laws. On June 27, 2017, we changed our name to Iovance Biotherapeutics, Inc from Lion Biotechnologies, Inc.

Basis of Presentation of Unaudited Condensed Consolidated Financial Information

The unaudited condensed consolidated financial statements of the Company for the three months ended March 31, 2018 and 2017 have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) 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 GAAP 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, 2017, was derived from the audited financial statements included in the Company's financial statements as of and for the year ended December 31, 2017 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 12, 2018. These financial statements should be read in conjunction with that report.

Liquidity

The Company is currently engaged in the development of therapeutics to fight cancer, specifically solid tumors. The Company does not have any commercial products and has not yet generated any revenues from its business. The Company currently does not anticipate that it will generate any revenues from the sale or licensing of any of its product candidates during the 12 months from the date these financial statements are issued. The Company has incurred a net loss of $26.5 million for the three months ended March 31, 2018 and used $17.8 million of cash in our operating activities during the three months ended March 31, 2018. As of March 31, 2018, we had $297.1 million of cash and cash equivalents. In January 2018, the Company closed an underwritten public offering of 15,000,000 shares of the Company’s common stock at a public offering price of $11.50 per share, before underwriting discounts, which included 1,956,521 shares issued upon the exercise in full by the underwriter of its option to purchase additional shares at the public offering price less the underwriting discount. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company, were $172.5 million, with net proceeds to the Company of approximately $162.0 million.

The Company expects to further increase its research and development activities, which will increase the amount of cash used during the remainder of 2018 and beyond. Specifically, the Company expects continued spending on clinical trials, continued and expansion of manufacturing activities, higher payroll expenses as the Company increases its professional and scientific staff and research and development activities. Based on the funds the Company has available as of the date these financial statements are issued, the Company believes that it has sufficient capital to fund its anticipated operating expenses for at least 24 months from the date that these financial statements are issued.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Short-term Investments

The Company's short-term investments are classified as “available-for-sale”. The Company includes these investments in current assets and carries them at fair value. Unrealized gains and losses on available-for-sale securities are included in accumulated other comprehensive income. The amortized cost of debt securities is adjusted for the amortization of premiums and accretion of discounts to maturity. Such amortization is included in interest income. Gains and losses on securities sold are recorded based on the specific identification method and are included in interest income in the statement of operations. We have not incurred any realized gains or losses from sales of securities to date. At March 31, 2018 and December 31, 2017, the Company held no short-term investments.

Loss per Share

Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period.

Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the sum of the weighted average number of shares of common stock outstanding and the dilutive common stock equivalent shares outstanding during the period. The Company’s potentially dilutive common stock equivalent shares, which include incremental common shares issuable upon i) the exercise of outstanding stock options and warrants (ii) vesting of restricted stock units and restricted stock awards, and (iii) conversion of preferred stock, are only included in the calculation of diluted net loss per share when their effect is dilutive.

At March 31, 2018 and 2017, the following outstanding common stock equivalents have been excluded from the calculation of net loss per share because their impact would be anti-dilutive.

	March 31,
	2018		2017
Stock options		6,951,067		6,748,302
Warrants		5,570,835		6,503,716
Series A Convertible Preferred*		847,000		847,000
Series B Convertible Preferred*		7,378,241		7,946,673
Restricted stock awards		-		5,000
Restricted stock units		103,123		550,000
		20,850,266		22,600,691

* on an as-converted basis

The dilutive effect of potentially dilutive securities is reflected in diluted earnings per common share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company's common stock can result in a greater dilutive effect from potentially dilutive securities.

Fair Value Measurements

Under Financial Accounting Standards Board (FASB) Accounting Standards Codification (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 Company does not have fair valued assets classified under Level 1.

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 held and have held are generally assessed under Level 2 were 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.

The Company does not have fair valued assets classified under Level 2.

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.

The Company does not have fair valued assets classified under Level 3.

As of March 31, 2018, and December 31, 2017, there were no financial assets measured at fair value on a recurring basis.

Use of Estimates

The preparation of financial statements in conformity with GAAP 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 short-term investments (which we did not hold at quarter end), the useful lives of property and equipment, 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.

Principles of Consolidation

The accompanying condensed consolidated financial statements include the accounts of Iovance Biotherapeutics, Inc. and its wholly-owned subsidiary, Iovance Biotherapeutics GmbH (formerly Lion Biotechnologies GmbH). All intercompany accounts and transactions have been eliminated. The U.S. dollar is the functional currency for all the Company's consolidated operations.

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 FASB 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 FASB 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 has in the past issued restricted shares of its common stock for share-based compensation programs. The Company measures the compensation cost with respect to restricted shares issued 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.

The fair value of restricted stock units is based on the closing price of the Company’s common stock on the grant date.

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

	Three Months Ended March 31,
	2018		2017
Research and development	$	2,000	$	1,250
General and administrative		2,104		2,046
Total stock-based compensation expense	$	4,104	$	3,296

Total stock-based compensation broken down based on each individual instrument was as follows (in thousands):

	Three Months Ended March 31,
	2018		2017
Stock option expense	$	4,037	$	2,654
Restricted stock award expense		-		13
Restricted stock unit expense		67		629
Total stock-based compensation expense	$	4,104	$	3,296

Preferred Stock

The Company applies the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of its preferred stock. Preferred shares subject to mandatory redemption are classified as liability instruments and are measured at fair value. Conditionally redeemable preferred shares (including preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, preferred shares are classified as stockholders’ equity.

Convertible Instruments

The Company applies the accounting standards for derivatives and hedging and for distinguishing liabilities from equity when accounting for hybrid contracts that feature conversion options. The accounting standards require companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments per certain criteria. The criteria includes circumstances in which (i) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (ii) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (iii) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.

Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.

The Company also records, when necessary, deemed dividends for the intrinsic value of the conversion options embedded in preferred stock based upon the difference between the fair value of the underlying common stock at the commitment date of the transaction and the effective conversion price embedded in the preferred stock.

Recent Accounting Standards

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which establishes a new lease accounting model for lessees. The updated guidance requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures. The amended guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. The Company plans to adopt this ASU on January 1, 2019. The Company is currently evaluating the impact of the adoption of this standard on its financial statements. However, the Company expects the adoption of this accounting guidance to result in an increase in lease assets and a corresponding increase in lease liabilities on its balance sheets.

Subsequent Events

Management 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 consolidated financial statements.

Reclassifications

Certain amounts within the statements of operations for the prior periods have been reclassified to conform with the current period presentation. These reclassifications had no impact on the Company's previously reported financial position or cash flows for any of the periods presented.

STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2018

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 5. STOCKHOLDERS’ EQUITY

Public Offering

In January 2018, the Company closed an underwritten public offering of 15,000,000 shares of the Company’s common stock at a public offering price of $11.50 per share, before underwriting discounts, which included 1,956,521 shares issued upon the exercise in full by the underwriter of its option to purchase additional shares at the public offering price less the underwriting discount. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other offering expenses payable by the Company, are $172.5 million, with net proceeds to the Company of $162.0 million.

Preferred stock

The Company’s certificate of incorporation authorizes the issuance of up to 50,000,000 shares of “blank check” preferred stock. At March 31, 2018 and December 31, 2017, 17,000 shares have been designated as Series A Convertible Preferred Stock and 11,500,000 designated as Series B Convertible Preferred Stock.

Series A Preferred Stock

A total of 17,000 shares of Series A Convertible Preferred Stock (“Series A 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 each investor, be converted into fully paid and non-assessable shares of common stock. The holders of shares of Series A Preferred Stock do 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. The common shares issued were determined on a formula basis of 500 common shares for each share of Series A Preferred Stock converted.

During the three months ended March 31, 2018, no shares of Series A Preferred stock were converted into common stock. At March 31, 2018, 1,694 shares of Series A Preferred Stock remained outstanding.

Series B Preferred Stock

A total of 11,500,000 shares of Series B Preferred Stock are authorized for issuance under the Company’s Series B Certificate of Designation of Rights, Preferences and Privileges of Series B Preferred Stock. The shares of Series B Preferred Stock have a stated value of $4.75 per share and are convertible into shares of the Company’s common stock at an initial conversion price of $4.75 per share.

Holders of the Series B Preferred Stock are entitled to dividends on an as-if-converted basis in the same form as any dividends actually paid on shares of the Company’s Series A Preferred Stock or the Company’s common stock. So long as any Series B Preferred Stock remains outstanding, the Company may not redeem, purchase or otherwise acquire any material amount of our Series A Preferred Stock or any securities junior to the Series B Preferred Stock.

During the three months ended March 31, 2018 and 2017, no Series B Preferred Stock was converted into common stock. At March 31, 2018, 7,378,241 shares of Series B Preferred Stock remained outstanding.

Warrants

The following table summarizes the Company’s stock warrant activity for the three months ended March 31, 2018:

			Weighted		Weighted
	Shares		Average		Average	Aggregate
	Under		Exercise		Remaining	Intrinsic
	Warrants		Price		Life	Value
Outstanding at January 1, 2018		6,301,216	$	2.51
Issued		-		-
Exercised		(730,381)	$	2.50
Expired/Cancelled		-		-
Outstanding at March 31, 2018		5,570,835	$	2.51	0.6 years	$	80,220,024

The aggregate intrinsic value in the table reflects the total pretax intrinsic value (the difference between the Company’s closing stock price on the last day of the quarter ended March 31, 2018 and the exercise price of the warrants, multiplied by the number of in-the-money warrants) that would have been received by the warrant holders had all warrant holders exercised their warrants on March 31, 2018. The intrinsic value of the Company’s warrants changes based on the closing price of the Company’s common stock.

STOCK BASED COMPENSATION

3 Months Ended

Mar. 31, 2018

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

STOCK BASED COMPENSATION

NOTE 6. STOCK BASED COMPENSATION

Stock Plans

As of October 14, 2011, the Company adopted the 2011 Equity Incentive Plan (the “2011 Plan”). Employees, directors, consultants and advisors of the Company are eligible to participate in the 2011 Plan. The 2011 Plan initially had 180,000 shares of common stock reserved for issuance in the form of incentive stock options, non-qualified options, common stock, and grant appreciation rights. The 2011 Plan was not approved by the Company’s stockholders within the required one-year period following its adoption and, accordingly, no incentive stock options can be granted under that plan. In August 2013, the Company’s Board of Directors and a majority of the Company’s stockholders approved an amendment to increase the number of shares available under the 2011 Plan from 180,000 shares to 1,700,000 shares, and an amendment to increase the number options or other awards that can be granted to any one person during a twelve (12) month period from 50,000 shares to 300,000 shares. The foregoing amendment to the 2011 Plan became effective in September 2013. On August 20, 2014, the Company’s Board of Directors amended the 2011 Plan to increase the number of shares available for issuance upon the exercise of stock options under the 2011 Plan from 1,700,000 to 1,900,000 shares, effective immediately. As of March 31, 2018, 542,490 shares were available for future grant under the 2011 Plan.

On September 19, 2014, the Company’s Board of Directors (the “Board”) adopted the Iovance Biotherapeutics, Inc. 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan was approved by the Company’s 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 to 4,000,000 shares of the Company’s common stock. The increase in shares available for issuance under the 2014 Plan was approved by the Company’s stockholders at the Company’s 2015 Annual Meeting of Stockholders in June 2015.

On August 16, 2016, the Company’s stockholders approved the increase of the total number of shares that can be issued under the 2014 Plan from 4,000,000 shares to 9,000,000 shares of the Company’s common stock. At March 31, 2018, 985,222 shares were available for grant under the Company’s 2014 Plan.

Restricted Stock Units

On June 1, 2016, the Company entered into a restricted stock unit agreement with the Company’s Chief Executive Officer, Maria Fardis, Ph.D., pursuant to which the Company granted Dr. Fardis 550,000 non-transferrable restricted stock units at fair market value of $5.87 per share as an inducement of employment pursuant to the exception to The NASDAQ Global Market rules that generally require stockholder approval of equity incentive plans. The 550,000 restricted stock units vest in installments as follows: (i) 137,500 restricted stock units vested upon the first anniversary of the effective date of Dr. Fardis’ employment agreement; (ii) 275,000 restricted stock units vested upon the satisfaction of certain clinical trial milestones; and (iii) 137,500 restricted stock units vest in equal monthly installments over the 36-month period following the first anniversary of the effective date of Dr. Fardis’ employment, provided that Dr. Fardis has been continuously employed with the Company as of such vesting dates. As of March 31, 2018, 103,123 restricted stock units remained unvested.

Stock-based compensation expense for restricted stock units is measured based on the closing fair market value of the Company's common stock on the date of grant. The stock based compensation expense relating to restricted stock units was $0.1 million and $0.6 million for the three months ended March 31, 2018 and 2017, respectively, and recorded as part of research and development expenses.

As of March 31, 2018, there is $0.6 million of total unrecognized compensation expense related to the non-vested restricted stock units to be recognized over a weighted average period of 2.17 years.

Stock Options

The following table summarizes the Company’s stock options activity for the three months ended March 31, 2018:

			Weighted		Weighted
	Number		Average		Average		Aggregate
	of		Exercise		Remaining		Intrinsic
	Options		Price		Contract Life		Value
Outstanding at January 1, 2018		6,072,368	$	7.42
Granted		1,637,020	$	15.83
Exercised		(703,071)	$	8.01
Expired/Forfeited		(55,250)	$	7.97
Outstanding at March 31, 2018		6,951,067	$	9.34		8.73	$	54,934,273

Options exercisable at March 31, 2018		2,556,831	$	7.81		5.14	$	24,088,155

The Company recorded stock-based compensation costs related to options of $4.1 million and $2.7 million for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018, there was $40.7 million of total unrecognized compensation expense related to the options to be recognized over a weighted average period of 2.3 years.

The weighted-average grant date fair value per share of options granted under the 2011 and 2014 Plan was $15.52 and $7.36 for the three months ended March 31, 2018 and 2017, respectively.

Options for 703,071 shares and 40,257 shares of our common stock were exercised during the three months ended March 31, 2018 and 2017, with an intrinsic value of $6.3 million and $0.1 million, respectively.

The aggregate intrinsic value in the table reflects the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the quarter ended March 31, 2018 and the exercise price of the options, multiplied by the number of in-the-money stock options) that would have been received by the option holders had all option holders exercised their options on March 31, 2018. The intrinsic value of the Company’s stock options changes based on the closing price of the Company’s common stock.

The fair value of each option issued during the three months ended March 31, 2018 and 2017 was estimated at the date of grant using the Black-Scholes valuation model. The weighted average assumptions used in the Black-Scholes calculation are presented below:

	Three months ended March 31,
Assumptions:	2018	2017
Expected term (years)	5.13 – 6.50	5.44 – 6.50
Expected volatility	170.85% - 200.28%	190.46% - 206.08%
Risk-free interest rate	2.27% - 2.77%	1.96% - 2.34%
Expected dividend yield	0%	0%

LICENSES AND AGREEMENTS

3 Months Ended

Mar. 31, 2018

Licenses And Agreements [Abstract]

LICENSES AND AGREEMENTS

NOTE 7. LICENSES AND AGREEMENTS

National Institutes of Health (NIH) and the National Cancer Institute (NCI)

Cooperative Research and Development Agreement (CRADA)

In August 2011, the Company signed a five-year CRADA with the NCI to work with Dr. Steven Rosenberg on developing adoptive cell immunotherapies that are designed to destroy metastatic melanoma cells using a patient’s tumor infiltrating lymphocytes.

In January 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 included the development of TIL therapy for the treatment of patients with bladder, lung, triple-negative breast, and Human Papilloma Virus (“HPV”)-associated cancers.

In August 2016, the NCI and the Company entered a second amendment to the CRADA. The principal changes effected by the second amendment included (i) extending the term of the CRADA by another five years to August 2021, and (ii) modifying the focus on the development of unmodified TIL as a stand-alone therapy or in combination with U.S. Food and Drug Administration (“FDA”) licensed products and commercially available reagents routinely used for adoptive cell therapy. The parties will continue the development of improved methods for the generation and selection of TIL with anti-tumor reactivity in metastatic melanoma, bladder, lung, breast, and HPV-associated cancers.

Pursuant to the terms of the CRADA, we are currently required to make quarterly payments of $0.5 million to the NCI for support of research activities. To the extent the Company licenses patent rights relating to a TIL-based product candidate, the Company will be responsible for all patent-related expenses and fees, past and future, relating to the TIL-based product candidate. In addition, the Company may be required to supply certain test articles, including TIL, grown and processed under cGMP conditions, suitable for use in clinical trials, where the Company holds the investigational new drug application for such clinical trial. The extended CRADA has a five-year term expiring in August 2021. The Company or the NCI may unilaterally terminate the CRADA for any reason or for no reason at any time by providing written notice at least 60 days before the desired termination date. During the three months ended March 31, 2018 and 2017, the Company recorded costs associated with the CRADA of $0.5 million, respectively, as research and development expenses.

Patent License Agreement Related to the Development and Manufacture of TIL

Effective October 5, 2011, the Company entered into a Patent License Agreement (the “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 Patent License Agreement was subsequently amended on February 9, 2015 and October 2, 2015. Pursuant to the Patent License Agreement as amended, the NIH granted the Company licenses, including exclusive, co-exclusive, and non-exclusive licenses, to certain technologies relating to autologous tumor infiltrating lymphocyte adoptive cell therapy products for the treatment of metastatic melanoma, lung, breast, bladder and HPV-positive cancers. The Patent License Agreement requires the Company to pay 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 royalty payments on the achievement of certain clinical and regulatory milestones for each of the various indications and other direct costs incurred by the NIH pursuant to the agreement.

Exclusive Patent License Agreement Related to TIL Selection

On February 10, 2015, the Company entered into an Exclusive Patent License Agreement (the “Exclusive Patent License Agreement”) with the NIH under which the Company received an exclusive license to the NIH’s rights to patent-pending technologies related to methods for improving adoptive cell therapy through 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. Under the Exclusive Patent License Agreement, the Company agreed to pay customary royalties based on a percentage of net sales of a licensed product (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 clinical studies involving licensed technologies, 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.

H. Lee Moffitt Cancer Center

Research Collaboration and Clinical Grant Agreements with Moffitt

In December 2016, the Company entered into a new three-year Sponsored Research Agreement with H. Lee Moffitt Cancer Center (“Moffitt”). At the same time, the Company entered into a clinical grant agreement with Moffitt to support an ongoing clinical trial at Moffitt that combines TIL therapy with nivolumab for the treatment of patients with metastatic melanoma. In June 2017, the Company entered into a second clinical grant agreement with Moffitt to support a new clinical trial at Moffitt that combines TIL therapy with nivolumab for the treatment of patients with non-small cell lung cancer.

Exclusive License Agreement with Moffitt

The Company entered into a license agreement with Moffitt (the “Moffitt License”), effective as of June 28, 2014, under which the Company received a world-wide license to Moffitt’s rights to patent-pending technologies related to methods for improving TIL for adoptive cell therapy. Unless earlier terminated, the term of the license extends until the earlier of the expiration of the last issued patent related to the licensed technology or 20 years after the effective date of the license agreement. The Company recorded costs associated with Moffitt of $0.6 million and $0.6 million for the three months ended March 31, 2018 and 2017, respectively, as research and development expenses.

Pursuant to the Moffitt License, the Company paid an upfront licensing fee in the amount of $0.1 million. A patent issuance fee will also be payable under the Moffitt License, 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 related to the treatment of any cancers in the United States, Europe and Japan and in other countries designated by the Company in agreement with Moffitt.

PolyBioCept and Karolinska University Hospital

PolyBioCept Exclusive and Co-Exclusive License Agreement

On September 14, 2016, the Company entered into an exclusive and co-exclusive license agreement (the “PolyBioCept Agreement”) with PolyBioCept AB, a corporation organized under the laws of Sweden (“PolyBioCept”). PolyBioCept has filed two patent applications with claims related to a cytokine cocktail for use in expansion of lymphocytes, one of which has been abandoned. Under the PolyBioCept Agreement, the Company received the exclusive right and license to PolyBioCept’s intellectual property to develop, manufacture, market and genetically engineer TIL produced by expansion, selection and enrichment using a proprietary cytokine cocktail. The Company also received a co-exclusive license (with PolyBioCept) to develop, manufacture and market genetically engineered TIL under the same intellectual property. The licenses are for the use in all cancers and are worldwide in scope, with the exception that the uses in melanoma are not included for certain countries of the former Soviet Union.

The Company paid PolyBioCept a total of $2.5 million as an up-front exclusive license payment. The Company will also have to make additional milestone payments to PolyBioCept under the PolyBioCept Agreement if, and when, (i) certain product development milestones are achieved, (ii) certain regulatory approvals have been obtained from the FDA and/or the European Medicines Agency, and (iii) certain product sales targets are achieved. The milestone payments will be payable both in cash (U.S. dollars) and in shares of the Company’s common stock. If all of the foregoing product development, regulatory approval and sales milestone payments are met, the Company will have to pay PolyBioCept an additional $8.7 million and will have to issue to PolyBioCept a total 2,219,376 shares of unregistered common stock. In addition to these potential payments, the Company reimbursed PolyBioCept up to $0.2 million in expenses related to the transfer of know-how and paid PolyBioCept $0.1 million as a clinical trials management fee. The Company also separately engaged PolyBioCept as a consultant to provide certain product development and research related services in a one-year agreement for up to $0.2 million, subject to the consent of the Karolinska Institute to the services to be performed by its employees thereunder. The PolyBioCept Agreement has an initial term of 30 years, and may be extended for additional five-year periods. During the three months ended March 31, 2018 and 2017 the Company recorded zero and $0.2 million associated with the PolyBioCept Agreement, respectively, as research and development expenses.

Karolinska University Hospital and Karolinska Institute Agreements

In connection with the execution of the PolyBioCept Agreement, the Company also (i) entered into a clinical trials agreement with the Karolinska University Hospital to conduct clinical trials in glioblastoma and pancreatic cancer at the Karolinska University Hospital, and (ii) agreed to enter into a sponsored research agreement with the Karolinska Institute for the research of the cytokine cocktail in additional indications. The Company agreed to enter into the sponsored research agreement within 90 days after the date of the PolyBioCept Agreement, which date has been extended by amendments to the PolyBioCept Agreement. Failure to enter into the sponsored research agreement or further amend the PolyBioCept Agreement will give PolyBioCept the right to terminate the PolyBioCept Agreement, while the Company will have the right to recoup $2.2 million of the payments it made under the PolyBioCept Agreement. The Company will pay the Karolinska Institute an additional $2.6 million in connection with these other related agreements. In the year ended December 31, 2016, the Company paid Karolinska University Hospital $1.6 million under the clinical trials agreement to conduct the clinical trials. The $1.6 million payment was classified as prepaid expense and is being amortized over the period the related services are rendered. At March 31, 2018, $1.2 million remained as prepaid expense on the consolidated balance sheet. As of April 9, 2018, the Company terminated the clinical trials agreement with the Karolinska University Hospital.

M.D. Anderson Cancer Center

Strategic Alliance Agreement

On April 17, 2017, the Company entered into a Strategic Alliance Agreement (the “SAA”) with M.D. Anderson Cancer Center (“M.D. Anderson”) under which the Company and M.D. Anderson agreed to conduct clinical and preclinical research studies. The Company agreed in the SAA to provide total funding not to exceed approximately $14.2 million for the performance of the multi-year studies under the SAA. In return, the Company will acquire all rights to inventions resulting from the studies and has been granted a non-exclusive, sub-licensable, royalty-free, and perpetual license to specified background intellectual property of M.D. Anderson reasonably necessary to exploit, including the commercialization thereof. The Company has also been granted certain rights in clinical data generated by M.D. Anderson outside of the clinical trials to be performed under the SAA. The SAA’s term shall continue in effect until the later of the fourth anniversary of the SAA or the completion or termination of the research and receipt by us of all deliverables due from M.D. Anderson thereunder. In May 2017, the Company paid $1.4 million under this agreement. This amount was recorded as a long-term prepaid asset at December 31, 2017 on the consolidated balance sheet, and reclassified to short-term at March 31, 2018 based on planned enrollment and other factors. The Company has not recorded any expense associated with the M.D. Anderson SAA for the three months ended March 31, 2018.

MedImmune

In December 2015, the Company entered into a collaboration agreement (the “MedImmune Agreement”) with MedImmune, the global biologics research and development arm of AstraZeneca (“MedImmune”), to conduct clinical and preclinical research in immuno-oncology. Under the MedImmune Agreement, the Company will fund and conduct at least one clinical trial combining MedImmune's PD-L1 inhibitor, durvalumab, with TIL for the treatment of patients. MedImmune will supply durvalumab for the clinical trials. The purpose of the studies is to establish a dosing regimen for this combination therapy and assess its safety and efficacy. The Company has not recorded any expense associated with the MedImmune Agreement for the three months ended March 31, 2018 and 2017.

WuXi Apptech, Inc. (“WuXi”)

In November 2016, the Company entered into a three-year manufacturing and services agreement (“MSA”) with WuXi pursuant to which WuXi agreed to provide manufacturing and other services. Under the agreement, the Company entered into two statements of work for two cGMP manufacturing suites to be established and operated by WuXi for the Company, one of the suites is expected to be capable of being used for the commercial manufacture of our products. The statements of work for each facility include a fixed component to reserve a dedicated suite and a variable component, mainly labor and materials used during the manufacturing process. The fee payable under the first statement of work for the use of one of the manufacturing suites during the first year of the agreement, including the fees for the necessary personnel, was $2.5 million. The second statement of work, under which WuXi agreed to establish and operate a second, dedicated facility for a late stage/commercial manufacturing cGMP suite requires the Company to pay approximately $5.85 million during the first year of the agreement. The Company and WuXi have extended the term of the related statements of work until May 2020. During the three months ended March 31, 2018 and 2017, the Company recorded costs associated with agreements with WuXi of $2.8 million and $4.2 million, respectively, as research and development expenses.

LEGAL PROCEEDINGS

3 Months Ended

Mar. 31, 2018

Loss Contingency [Abstract]

LEGAL PROCEEDINGS

NOTE 8. LEGAL PROCEEDINGS

Class Action Lawsuit and Derivative Lawsuits. On April 10, 2017, the SEC announced settlements with us and with other public companies and unrelated parties in the In the Matter of Certain Stock Promotion investigation. Our settlement with the SEC is consistent with our previous disclosures (including in our Annual Report on Form 10-K that we filed with the SEC on March 9, 2017). On April 14, 2017, a purported shareholder filed a complaint seeking class action status in the United States District Court, Northern District of California for violations of the federal securities laws (Leonard DeSilvio v. Lion Biotechnologies, Inc., et al., case no. 3:17-cv-2086) against our company and three of our former officers and directors. On April 19, 2017, a second class action complaint (Amra Kuc vs. Lion Biotechnologies, Inc., et al., case no. 3:17-cv-2188) was filed in the same court. Both complaints allege, among other things, that the defendants violated the federal securities laws by making materially false and misleading statements, or by failing to make certain disclosures, regarding the actions taken by Manish Singh, our former CEO, and our former investor relations firm that were the subject of the In the Matter of Certain Stock Promotions investigation. On July 20, 2017, the plaintiff in the Kuc case filed a notice to voluntarily dismiss that case. The court entered an order dismissing the Kuc complaint on July 21, 2017. On July 26, 2017, the court appointed a movant as lead plaintiff. On September 8, 2017, the lead plaintiff filed an amended complaint (Jay Rabkin v. Lion Biotechnologies, Inc., et al., case no. 3:17-cv-2086) seeking class action status that alleges, among other things, that the defendants violated federal securities laws by making materially false and misleading statements, or by failing to make certain disclosures, regarding the actions taken by Manish Singh and our former investor relations firm that were the subject of the In the Matter of Certain Stock Promotions SEC investigation. On February 5, 2018, the court entered an order dismissing two of Plaintiff’s six claims.

On December 15, 2017, a purported stockholder derivative complaint was filed by plaintiff Kevin Fong on behalf of the Company, against the Company, as nominal defendant, and certain of the Company’s current and former officers and directors, and others, as defendants, in the U.S. District Court for the District of Delaware (case no. 1:17-cv-1806). The complaint alleges breaches of fiduciary duties, unjust enrichment, and violations of Section 14(a) of the Securities Exchange Act of 1934 and Rule 14a-9 promulgated thereunder arising from the SEC’s investigation in the In the Matter of Certain Stock Promotions investigation and our April 10, 2017 settlement thereof, and seeks unspecified damages on behalf of our company and injunctive relief.

On March 28, 2018, a purported stockholder derivative complaint was filed by plaintiff Nazeer Khaleeluddin on behalf of the Company, against the Company, as nominal defendant, and certain of the Company’s current and former officers and directors, and others, as defendants, in the U.S. District Court for the District of Delaware (case no. 1:18-cv-00469). The complaint alleges, among other things, violations of securities law, breach of fiduciary duty, aiding and abetting, waste of corporate assets, and unjust enrichment. The complaint is based on claims arising from the SEC’s investigation in the In the Matter of Certain Stock Promotions investigation and the Company’s April 10, 2017 settlement thereof, and seeks unspecified damages on behalf of our company and injunctive relief. On May 1, 2018, the court consolidated this case with the aforementioned purported stockholder derivative case filed by plaintiff Kevin Fong.

We intend to vigorously defend against the foregoing complaints. Based on the very early stage of the litigation, it is not possible to estimate the amount or range of possible loss that might result from an adverse judgment or a settlement of these matters.

Solomon Capital, LLC. On April 8, 2016, a lawsuit titled Solomon Capital, LLC, Solomon Capital 401(K) Trust, Solomon Sharbat and Shelhav Raff v. 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 to the Company $0.1 million and that they advanced and paid on our behalf an additional $0.2 million. The complaint further alleges that the Company agreed to (i) provide them with promissory notes totaling $0.2 million, plus interest, (ii) issue a total of 111,425 shares to the plaintiffs (before the 1-for-100 reverse split of our common stock effected in March 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 the Company’s common stock in the restructuring that was affected in May 2013. Based on the foregoing, the plaintiffs allege causes for breach of contract and unjust enrichment and demand judgment against the Company in an unspecified amount exceeding $1.5 million, plus interest and attorneys’ fees.

On June 3, 2016, the Company filed an answer and counterclaims in the lawsuit. In its counterclaims, the Company alleges that the plaintiffs misrepresented their qualifications to assist it in fundraising and that they failed to disclose that they were under investigation for securities laws violations. The Company is seeking damages in an amount exceeding $0.5 million and an order rescinding any and all agreements that the plaintiffs contend entitled them to obtain stock in the Company.

On April 19, 2017, the court granted plaintiffs’ counsel’s motion to withdraw from the case. On May 25, 2017, plaintiffs filed a notice that they had hired new counsel. On June 7, 2017, the judge presiding over the case recused herself because of a conflict of interest arising from her relationship with plaintiffs’ new attorneys, and the case was subsequently assigned to a new judge. On April 20, 2018, the court held a hearing regarding plaintiff’s motion to dismiss certain counterclaims by the Company.

The Company intends to vigorously defend the complaint and pursue its counterclaims.

Litigation Involving Dr. Steven Fischkoff. On June 13, 2017, in an action titled Steven Fischkoff v. Lion Biotechnologies, Inc. and Maria Fardis, Dr. Steven Fischkoff, our former Vice President and Chief Medical Officer, filed a lawsuit against the Company in the Supreme Court of the State of New York County of New York. Dr. Fischkoff was dismissed by the Company on March 28, 2017. Dr. Fischkoff was terminated “for cause” as that term is defined in his employment agreement. In his complaint, Dr. Fischkoff alleges breaches of his employment agreement and violation of New York Labor Law for failure to pay monies purportedly owed to him, and seeks to recover amounts including severance pay and retention bonus (totaling $300,000), a prorated incentive bonus, and amounts relating to unvested options to 150,000 shares of our common stock, together with prejudgment interest, costs, expenses and attorneys’ fees. On July 5, 2017, the Company filed a removal petition and removed the lawsuit to the United States District Court for the Southern District of New York, where the case has been assigned case no. 1:17-cv-05041. On July 14, 2017, the Company filed a partial answer and counterclaims against Dr. Fischkoff, denying his allegations, and alleging breach of contract and related claims, breach of fiduciary duty, and state and federal trade secret misappropriation and related claims, and sought a temporary restraining order and preliminary injunction against Dr. Fischkoff. On July 18, 2017, the court issued a temporary restraining order against Dr. Fischkoff requiring him to return Company materials, prohibiting him from disclosing or using Company materials, and granting expedited discovery.

We intend to vigorously defend against Dr. Fischkoff’s lawsuit and pursue the Company’s counterclaims. Based on the very early stage of the litigation, it is not possible to estimate the amount or range of (i) a possible loss that might result from an adverse judgment or settlement of this action, or (ii) the potential recovery that might result from a favorable judgment or a settlement of this action.

Other Matters. During the second quarter of 2016, warrants representing 128,500 shares were exercised. The 128,500 shares of common stock had previously been registered for re-sale. However, we believe that these 128,500 warrant shares were sold by the holders in open market transactions in May 2016 at a time when the registration statement was ineffective. Accordingly, those sales were not made in accordance with Sections 5 and 10(a)(3) of the Securities Act, and the purchasers of those shares may have rescission rights (if they still own the shares) or claims for damages (if they no longer own the shares). The amount of any such liability is uncertain and as such, an accrual for any potential loss has not been made. The Company believes that any claims brought against it would not result in a material impact to the Company’s financial position or results of operations. The Company has not accrued a loss for a potential claim associated with this matter as it is unable to estimate any at this time.

The Company may be involved, from time to time, in legal proceedings and claims arising in the ordinary course of its business. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. The Company accrues amounts, to the extent they can be reasonably estimated, that it believes are adequate to address any liabilities related to legal proceedings and other loss contingencies that the Company believes will result in a probable loss. While there can be no assurances as to the ultimate outcome of any legal proceeding or other loss contingency involving the Company, management does not believe any pending matter will be resolved in a manner that would have a material adverse effect on the Company’s financial position, results of operations or cash flows.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Short-term Investments

Short-term Investments

Loss per Share

Loss per Share

Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period.

At March 31, 2018 and 2017, the following outstanding common stock equivalents have been excluded from the calculation of net loss per share because their impact would be anti-dilutive.

	March 31,
	2018		2017
Stock options		6,951,067		6,748,302
Warrants		5,570,835		6,503,716
Series A Convertible Preferred*		847,000		847,000
Series B Convertible Preferred*		7,378,241		7,946,673
Restricted stock awards		-		5,000
Restricted stock units		103,123		550,000
		20,850,266		22,600,691

* on an as-converted basis

Fair Value Measurements

Fair Value Measurements

The Company does not have fair valued assets classified under Level 1.

The Company does not have fair valued assets classified under Level 2.

The Company does not have fair valued assets classified under Level 3.

As of March 31, 2018, and December 31, 2017, there were no financial assets measured at fair value on a recurring basis.

Use of Estimates

Use of Estimates

Principles of Consolidation

Principles of Consolidation

Stock-Based Compensation

Stock-Based Compensation

The fair value of restricted stock units is based on the closing price of the Company’s common stock on the grant date.

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

	Three Months Ended March 31,
	2018		2017
Research and development	$	2,000	$	1,250
General and administrative		2,104		2,046
Total stock-based compensation expense	$	4,104	$	3,296

Total stock-based compensation broken down based on each individual instrument was as follows (in thousands):

	Three Months Ended March 31,
	2018		2017
Stock option expense	$	4,037	$	2,654
Restricted stock award expense		-		13
Restricted stock unit expense		67		629
Total stock-based compensation expense	$	4,104	$	3,296

Preferred Stock

Preferred Stock

Convertible Instruments

Convertible Instruments

Recent Accounting Standards

Recent Accounting Standards

Subsequent Events

Subsequent Events

Reclassifications

Reclassifications

GENERAL ORGANIZATION AND BUSINESS (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2018	Mar. 31, 2018	Mar. 31, 2017
Net Income (Loss) Attributable to Parent, Total		$ (26,515)	$ (20,684)
Net Cash Provided by (Used in) Operating Activities		(17,849)	(18,803)
Cash, Cash Equivalents, and Short-term Investments, Total		297,100
Proceeds from Issuance of Common Stock		$ 162,186	$ 0
IPO [Member]
Stock Issued During Period, Shares, New Issues	15,000,000
Proceeds from Issuance of Common Stock	$ 162,000
Shares Issued, Price Per Share	$ 11.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	1,956,521
Stock Issued During Period, Value, New Issues	$ 172,500

BALANCE SHEET COMPONENTS (Details 1) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accrued payroll and employee related expenses	$ 1,655	$ 2,613
Legal and related services	926	935
Clinical related	4,031	3,310
Manufacturing related	626	876
Deferred rent	398	430
Accrued other	478	496
Accrued liabilities	$ 8,114	$ 8,660

STOCKHOLDERS' EQUITY (Details) - Warrant [Member]	3 Months Ended
STOCKHOLDERS' EQUITY (Details) - Warrant [Member]	Mar. 31, 2018 USD ($) $ / shares shares
Shares Under Warrants
Outstanding, beginning balance \| shares	6,301,216
Issued \| shares	0
Exercised \| shares	(730,381)
Expired/Cancelled \| shares	0
Outstanding, ending balance \| shares	5,570,835
Weighted Average Exercise Price
Outstanding, beginning balance \| $ / shares	$ 2.51
Granted \| $ / shares	0
Exercised \| $ / shares	2.50
Expired/Cancelled \| $ / shares	0
Outstanding, ending balance \| $ / shares	$ 2.51
Weighted Average Remaining Contractual Life
Outstanding	7 months 6 days
Aggregate Intrinsic Value
Outstanding, ending balance \| $	$ 80,220,024

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	Jan. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Class of Stock [Line Items]
Proceeds from Issuance of Common Stock		$ 162,186,000	$ 0
IPO [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	15,000,000
Proceeds from Issuance of Common Stock	$ 162,000,000
Shares Issued, Price Per Share	$ 11.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	1,956,521
Proceeds From Issuance Of Common Stock, Gross	$ 172,500,000
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Issued		500
Preferred Stock, Shares Authorized				17,000
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
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized		11,500,000		11,500,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001
Preferred Stock, Shares Outstanding		7,378,241		7,378,241
Preferred Stock, Redemption Amount		$ 35,047		$ 35,047
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized		11,500,000		11,500,000
Preferred Stock, Par or Stated Value Per Share		$ 4.75
Convertible Price Per Shares		$ 4.75
Blank Check [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized		50,000,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized		17,000		17,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001
Preferred Stock, Shares Outstanding		1,694		1,694
Preferred Stock, Redemption Amount		$ 1,694		$ 1,694

STOCK BASED COMPENSATION (Details) - Employee Stock Option [Member]	3 Months Ended
	Mar. 31, 2018 USD ($) $ / shares shares
Number of Options
Outstanding, beginning balance \| shares	6,072,368
Granted \| shares	1,637,020
Exercised \| shares	(703,071)
Expired/Forfeited \| shares	(55,250)
Outstanding, ending balance \| shares	6,951,067
Exercisable \| shares	2,556,831
Weighted Average Exercise Price
Outstanding, beginning balance \| $ / shares	$ 7.42
Granted \| $ / shares	15.83
Exercised \| $ / shares	8.01
Expired/Forfeited \| $ / shares	7.97
Outstanding, ending balance \| $ / shares	9.34
Exercisable \| $ / shares	$ 7.81
Weighted Average Remaining Contractual Life
Outstanding	8 years 8 months 23 days
Exercisable	5 years 1 month 20 days
Aggregate Intrinsic Value
Outstanding, ending balance \| $	$ 54,934,273
Exercisable \| $	$ 24,088,155

STOCK BASED COMPENSATION (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended
	Jun. 30, 2016	Aug. 31, 2013	Mar. 31, 2018	Mar. 31, 2017	Aug. 16, 2016	Apr. 10, 2015	Nov. 30, 2014	Aug. 20, 2014	Aug. 01, 2014	Aug. 02, 2013	Oct. 14, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total			$ 40,700
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 6,300	$ 100
Share-based Compensation			$ 4,104	$ 3,296
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 15.52	$ 7.36
Restricted Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense			$ 100	$ 600
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense			$ 600
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 2 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number			103,123
Restricted Stock [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	550,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 5.87
First Anniversary [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	36 months
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	137,500
Satisfaction Of Clinical Trial Milestones [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	275,000
2014 Equity Incentive Plan [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	2,350,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			985,222
2014 Equity Incentive Plan [Member] \| Maximum [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					9,000,000
2014 Equity Incentive Plan [Member] \| Minimum [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
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			542,490
Share-based Compensation Arrangement by Share-based Payment Award, Description		an amendment to increase the number options or other awards that can be granted to any one person during a twelve (12) month period from 50,000 shares to 300,000 shares.
Common Stock, Capital Shares Reserved for Future Issuance		1,700,000						1,900,000	1,700,000	180,000	180,000
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, Exercises in Period			703,071	40,257

LICENSES AND AGREEMENTS (Details Textual) - USD ($) $ in Thousands		1 Months Ended		3 Months Ended		12 Months Ended
	Sep. 14, 2016	Apr. 17, 2017	Nov. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2016	May 31, 2017
Research and Development Expense, Total				$ 19,912	$ 15,593
Research and Development Arrangement [Member]
Prepaid Expense, Current							$ 1,400
Maximum [Member] \| Research and Development Arrangement [Member]
Research and Development Arrangement, Contract to Perform for Others, Costs Incurred, Gross		$ 14,200
KarolinskaUniversityHospital [Member]
Payments For Clinical Trials Agreement						$ 1,600
Repayments To Be Made For Termination Of Licence Agreement	$ 2,200
Payments To Be Made For Other Related Agreements	2,600
Prepaid Expense, Current				1,200
National Cancer Institute [Member]
Research and Development Expense, Total				500
Moffitt License Agreement [Member]
Research and Development Expense, Total				600	600
Payments For Upfront Licensing Fee				$ 100
Agreement Term				20 years
Cooperative Research and Development Agreement [Member]
Research and Development Expense, Total				$ 500	500
PolyBioCept, AB - Exclusive and Co-Exclusive License Agreement [Member]
Research and Development Expense, Total				0	200
Payment For Upfront Exclusive License	2,500
Additional Milesone Payable	$ 8,700
Number Of Unregistered Common Stock To Be Issued	2,219,376
ReimbursementIn Relation To Transfer Of Knowhow	$ 200
Clinical Trials Management Fees Payable	100
Consulting Fees Receivable	$ 200
Initial Term Of Licence Agreement	30 years
WuXi Apptech, Inc - Manufacturing and Services Agreement [Member]
Research and Development Expense, Total				$ 2,800	$ 4,200
Agreement Term			3 years
WuXi Apptech, Inc - Manufacturing and Services Agreement [Member] \| Manufacturing Suites [Member]
Manufacturing and Services Agreement, Amount Payable			$ 2,500
WuXi Apptech, Inc - Manufacturing and Services Agreement [Member] \| Commercial Manufacturing cGMP Suite [Member]
Manufacturing and Services Agreement, Amount Payable			$ 5,850

LEGAL PROCEEDINGS (Details Textual)			1 Months Ended		3 Months Ended
LEGAL PROCEEDINGS (Details Textual)	Jun. 13, 2017 USD ($) shares	Jun. 03, 2016 USD ($)	Nov. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)	Mar. 31, 2018 USD ($) shares	Sep. 30, 2016 shares	Apr. 08, 2016 USD ($)
Loss Contingency, Damages Sought, Value		$ 500,000
Common Stock Registered For Resale \| shares					128,500
Number of share options or share units exercised during the current period. \| shares					128,500
Dr. Steven Fischkoff [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross \| shares	150,000
Severance Pay And Retention Bonus	$ 300,000
Warrant [Member]
Shares Sold Under Ineffective Registration \| shares						128,500
Minimum [Member]
Loss Contingency, Estimate of Possible Loss							$ 1,500,000
Solomon Capital, LLC [Member]
Proceeds from Related Party Debt			$ 200,000	$ 100,000
Debt Instrument, Convertible, Number of Equity Instruments					111,425
Solomon Capital, LLC [Member] \| Commercial Paper [Member]
Debt Instrument, Face Amount					$ 200,000

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Mar. 31, 2018 USD ($)
2018 (remaining nine months)	$ 746
2019	700
2020	495
2021	169
Total	$ 2,110

COMMITMENTS AND CONTINGENCIES (Details Textual)		1 Months Ended			3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details Textual)	Aug. 04, 2016 USD ($) ft²	Apr. 28, 2017 USD ($) ft²	Sep. 30, 2016 USD ($) ft²	Apr. 30, 2015 USD ($) ft²	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Jun. 05, 2017 USD ($)	Dec. 31, 2014 a
License And Commitments [Line Items]
Operating Leases, Rent Expense					$ 300,000	$ 200,000
Operating Leases, Future Minimum Payments Due					2,110,000
Tampa Lease [Member]
License And Commitments [Line Items]
Area of Land			8,673	6,043				5,115
Operating Leases, Rent Expense, Minimum Rentals			$ 20,000	$ 20,000
New York Lease [Member]
License And Commitments [Line Items]
Operating Leases, Future Minimum Payments Due							$ 9,000
Operating Leases, Rent Expense, Minimum Rentals					$ 18,000
San Carlos Lease [Member]
License And Commitments [Line Items]
Area of Land \| ft²	8,733
Lease Expiration Term	54 months
Operating Leases, Future Minimum Payments Due	$ 38,000
Operating Leases, Rent Expense, Sublease Rentals		$ 26,000
Teradata US, Inc [Member]
License And Commitments [Line Items]
Area of Land \| ft²		11,449

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Sep. 14, 2017	Mar. 31, 2018	Mar. 31, 2017
Payments for Legal Services		$ 100	$ 200
Due to Related Parties, Current		100
Share-based Compensation		4,104	$ 3,296
Consulting Agreement [Member]
Share-based Compensation		$ 400
Board of Directors Chairman [Member]
Consulting Agreement,Term	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	150,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 7.30
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	The granted stock options vest in 12 quarterly installments (with 1/12th of the option shares having vested on the date of grant).

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total	$ 4,104	$ 3,296
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total	2,000	1,250
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total	$ 2,104	$ 2,046

CASH AND CASH EQUIVALENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents, at Carrying Value	$ 297,082	$ 145,373	$ 107,099	$ 106,717
Demand Deposits [Member]
Cash and Cash Equivalents, at Carrying Value	205,562	54,092
Money Market Funds [Member]
Cash and Cash Equivalents, at Carrying Value	$ 91,520	$ 91,281

CASH AND CASH EQUIVALENTS (Details 1) - Money Market Funds [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Amortized Cost	$ 91,520	$ 91,281
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 91,520	$ 91,281

STOCK BASED COMPENSATION (Details 1)	3 Months Ended
STOCK BASED COMPENSATION (Details 1)	Mar. 31, 2018	Mar. 31, 2017
Expected dividend yield	0.00%	0.00%
Maximum [Member]
Expected term (in years)	6 years 6 months	6 years 6 months
Expected volatility	200.28%	206.08%
Risk-free interest rate	2.77%	2.34%
Minimum [Member]
Expected term (in years)	5 years 1 month 17 days	5 years 5 months 8 days
Expected volatility	170.85%	190.46%
Risk-free interest rate	2.27%	1.96%