Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2014	Oct. 31, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Entity Registrant Name	Akebia Therapeutics, Inc.
Entity Central Index Key	0001517022
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		20,340,805

Condensed Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 49,667,984	$ 21,215,228
Available for sale securities	68,670,000	11,341,000
Accounts receivable	57,000	135,000
Prepaid expenses and other current assets	1,445,000	740,000
Total current assets	119,840,000	33,431,000
Property and equipment, net	204,894	30,366
Deferred offering costs		1,079,000
Other assets	125,000	125,000
Total assets	120,170,000	34,665,000
Current liabilities:
Accounts payable	3,032,000	714,000
Accrued expenses	3,490,287	3,187,761
Total current liabilities	6,522,000	3,902,000
Other liabilities	34,000	8,000
Total liabilities	6,556,000	3,910,000
Redeemable convertible preferred stock; $0.00001 par value; 0 and 5,500,636 shares authorized at September 30, 2014 and December 31, 2013, respectively:
Redeemable convertible preferred stock		157,827,000
Stockholders' equity (deficit):
Common stock: $0.00001 par value; 175,000,000 and 14,700,000 authorized at September 30, 2014 and December 31, 2013, respectively; 20,300,243 and 1,383,345 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively
Additional paid-in capital	204,048,000
Treasury Stock, at cost, 2,553 shares	(79,000)
Accumulated other comprehensive loss	(51,257)	0
Accumulated deficit	(90,303,000)	(127,072,000)
Total stockholders' equity (deficit)	113,614,000	(127,072,000)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	120,170,000	34,665,000
Series A redeemable convertible preferred stock
Redeemable convertible preferred stock; $0.00001 par value; 0 and 5,500,636 shares authorized at September 30, 2014 and December 31, 2013, respectively:
Redeemable convertible preferred stock		39,367,000
Series B redeemable convertible preferred stock
Redeemable convertible preferred stock; $0.00001 par value; 0 and 5,500,636 shares authorized at September 30, 2014 and December 31, 2013, respectively:
Redeemable convertible preferred stock		21,257,000
Series C redeemable convertible preferred stock
Redeemable convertible preferred stock; $0.00001 par value; 0 and 5,500,636 shares authorized at September 30, 2014 and December 31, 2013, respectively:
Redeemable convertible preferred stock		$ 97,203,000

Condensed Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Redeemable convertible preferred stock, par value	$ 0.00001	$ 0.00001
Redeemable convertible preferred stock, shares authorized	0	5,500,636
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	25,000,000	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	175,000,000	14,700,000
Common stock, shares issued	20,300,243	1,383,345
Common stock, shares outstanding	20,300,243	1,383,345
Treasury Stock, shares	2,553	2,553
Series A redeemable convertible preferred stock
Redeemable convertible preferred stock, shares authorized		734,538
Redeemable convertible preferred stock, shares issued	0	734,538
Redeemable convertible preferred stock, shares outstanding	0	734,538
Redeemable convertible preferred stock, liquidation preference		$ 39,367
Series B redeemable convertible preferred stock
Redeemable convertible preferred stock, shares authorized		1,287,525
Redeemable convertible preferred stock, shares issued	0	1,287,525
Redeemable convertible preferred stock, shares outstanding	0	1,287,525
Redeemable convertible preferred stock, liquidation preference		21,031
Series C redeemable convertible preferred stock
Redeemable convertible preferred stock, shares authorized		3,428,572
Redeemable convertible preferred stock, shares issued	0	3,302,885
Redeemable convertible preferred stock, shares outstanding	0	3,302,885
Redeemable convertible preferred stock, liquidation preference		$ 97,203

Condensed Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Operating expenses:
Research and development	$ 6,648,000	$ 3,240,000	$ 18,330,000	$ 7,591,000
General and administrative	2,936,000	794,000	9,003,000	2,141,000
Total operating expenses	9,584,000	4,034,000	27,333,000	9,732,000
Operating loss	(9,584,000)	(4,034,000)	(27,333,000)	(9,732,000)
Other income (expense):
Interest income (expense), net	56,000	28,000	125,000	(723,000)
Extinguishment of debt and other liabilities				2,420,000
Reimbursements from Aerpio	180,000	238,000	544,000	816,000
Net loss	(9,348,391)	(3,767,890)	(26,663,829)	(7,219,236)
Reconciliation of net loss to net loss applicable to common stockholders:
Net loss	(9,348,391)	(3,767,890)	(26,663,829)	(7,219,236)
Accretion on preferred stock		(2,748,232)	(86,899,555)	(52,861,367)
Net loss applicable to common stockholders	(9,348,391)	(6,516,122)	(113,563,384)	(60,080,603)
Net loss per share applicable to common stockholders—basic and diluted	$ (0.47)	$ (11.92)	$ (8.16)	$ (117.94)
Weighted-average number of common shares used in net loss per share applicable to common stockholders—basic and diluted	19,691,167	546,714	13,920,651	509,425
Comprehensive loss:
Net loss	(9,348,391)	(3,767,890)	(26,663,829)	(7,219,236)
Other comprehensive loss:
Unrealized loss on securities	(43,000)		(52,000)
Comprehensive loss	$ (9,391,000)	$ (3,768,000)	$ (26,716,000)	$ (7,219,000)

Condensed Statements of Cash Flows (USD $)	9 Months Ended
Condensed Statements of Cash Flows (USD $)	Sep. 30, 2014	Sep. 30, 2013
Operating activities:
Net loss	$ (26,663,829)	$ (7,219,236)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on extinguishment of debt and other liabilities		(2,420,000)
Depreciation expense	33,285	26
Amortization of debt issuance costs		4,000
Amortization of premium/discount on investments	124,000	752,000
Stock-based compensation expense	5,123,564	438,052
Changes in operating assets and liabilities:
Accounts receivable	78,000	(80,000)
Prepaid expenses and other current assets	(688,000)	(28,000)
Accounts payable and accrued expenses	3,683,000	2,129,000
Other liabilities	29,000
Net cash used in operating activities	(18,280,000)	(6,424,000)
Investing activities:
Purchase of equipment	(208,000)	(6,000)
Proceeds from maturities of available for sale securities	6,990,000
Purchases of available for sale securities	(64,497,000)	(13,154,000)
Net cash used in investing activities	(57,715,000)	(13,160,000)
Financing activities:
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs		42,546,000
Repurchase of treasury stock	(79,000)
Proceeds from issuance of common stock, net of issuance costs	104,293,000
Proceeds from receipt of payment on promissory notes issued in exchange for shares of common stock	237,000
Payments on capital lease obligations	(3,000)
Net cash provided by financing activities	104,448,000	42,546,000
Increase in cash and cash equivalents	28,453,000	22,962,000
Cash and cash equivalents at beginning of period	21,215,228	1,641,000
Cash and cash equivalents at end of period	49,667,984	24,603,000
Non-cash financing activities:
Accretion of preferred stock to redemption value	86,899,000	52,862,000
Unpaid initial public offering issuance costs	15,000,000	0
Reclassification of 2012 Series X preferred stock from debt to preferred stock		2,486,000
Conversion of 2012 Series X preferred stock into Series C preferred stock		$ 4,944,000

Nature of Organization and Operations	9 Months Ended
Nature of Organization and Operations	Sep. 30, 2014
Accounting Policies [Abstract]
Nature of Organization and Operations	1. Nature of Organization and Operations Akebia Therapeutics, Inc. (Akebia, or the Company) is a biopharmaceutical company focused on delivering innovative therapies to patients with kidney disease through the biology of hypoxia inducible factor (HIF). HIF is the primary regulator of the production of red blood cells in the body and a potentially novel mechanism of treating anemia. The Company’s lead product candidate, AKB-6548, is being developed as a once-daily, oral therapy that has successfully completed a Phase 2b study demonstrating that AKB-6548 can safely and predictably raise hemoglobin levels in non-dialysis patients with anemia related to chronic kidney disease (CKD). The Company’s operations to date have been limited to organizing and staffing the Company, business planning, raising capital, acquiring and developing its technology, identifying potential product candidates and undertaking preclinical and clinical studies. The Company has not generated any product revenue to date, nor is there any assurance of any future product revenue. The Company’s product candidates are subject to long development cycles and there is no assurance the Company will be able to successfully develop, obtain regulatory approval for or market its product candidates. The Company is subject to a number of risks including, but not limited to, the need to obtain adequate additional funding, possible failure of preclinical testing or clinical trials, the need to obtain marketing approval for its product candidates, the development of new technological innovations by competitors, the need to successfully commercialize and gain market acceptance of any of the Company’s products that are approved and the ability to protect its proprietary technology. If the Company does not successfully commercialize any of its products, it will be unable to generate product revenue or achieve profitability. Unless otherwise indicated, all information in these financial statements gives retrospective effect to the 1.75-for-1 stock split of the Company’s common stock (the Stock Split) that was effected on March 6, 2014 (see Note 7), as well as any other stock-splits in historical periods. The Company was incorporated on February 27, 2007 under the laws of the State of Delaware.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References+ Details

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Initial Public Offering

On March 25, 2014, the Company completed its initial public offering (IPO) whereby the Company sold 6,762,000 shares of common stock including 879,647 shares of common stock pursuant to the full exercise of an over-allotment option granted to the underwriters in connection with the offering at a price of $17.00 per share. The shares began trading on the Nasdaq Global Market on March 20, 2014. The aggregate net proceeds received by the Company from the offering were $104,364,560, net of underwriting discounts and commissions and estimated offering expenses payable by the Company. Upon the closing of the IPO, all outstanding shares of convertible redeemable preferred stock converted into 12,115,183 shares of common stock. Additionally, the Company is now authorized to issue 175,000,000 shares of common stock and 25,000,000 shares of undesignated preferred stock.

Our preferred stock is redeemable at the greater of fair value or the original issuance price. We recorded $86,899,555 of accretion on the preferred stock in the period from January 1, 2014 through the date of the closing of our IPO which represents the difference in the carrying value at December 31 , 2013 and the fair value of the preferred stock just prior to conversion into common stock.

Basis of Presentation

The accompanying financial statements are unaudited and have been prepared by the Company in accordance with U.S. GAAP and are stated in U.S. Dollars. Certain information and footnote disclosures normally included in the Company’s annual financial statements have been condensed or omitted. These interim financial statements, in the opinion of management, reflect all normal recurring adjustments necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods ended September 30, 2014 and 2013.

The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. These interim financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2013, and the notes thereto, which are included in the Company’s prospectus that forms a part of the Company’s Registration Statement on Form S-1 (File No. 333-193969 and 333-194695), which was filed with the Securities and Exchange Commission (SEC) on March 21, 2014.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

In June 2014, the FASB issued ASU No. 2014-10, which eliminates the concept of a development stage entity, or DSE, in its entirety from GAAP. Under existing guidance, DSEs are required to report incremental information, including inception-to-date financial information, in their financial statements. A DSE is an entity devoting substantially all of its efforts to establishing a new business and for which either planned principal operations have not yet commenced or have commenced but there has been no significant revenues generated from that business. Entities classified as DSEs will no longer be subject to these incremental reporting requirements after adopting ASU No. 02014-10. ASU No. 2014-10 is effective for fiscal years beginning after December 15, 2014, with early adoption permitted. Retrospective application is required for the elimination of incremental DSE disclosure. Prior to the issuance of ASU No. 2014-10, the Company had met the definition of a DSE since its inception. The Company elected to adopt this ASU early and, therefore, it has eliminated the incremental disclosures previously required of DSEs, starting with the Quarterly Report on Form 10-Q for the quarter ended June 30, 2014 (File No. 001-36352), which was filed with the SEC on August 11, 2014.

Segment Information

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one operating segment, which is the business of developing and commercializing proprietary therapeutics based on HIF biology.

Use of Estimates

The preparation of financial statements in conformity with U.S. 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 revenues and expenses during the reporting period. Actual results may differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. Estimates are used in the following areas, among others: stock-based compensation expense, fair value of common stock and preferred stock and the Company’s other equity instruments (in periods prior to the IPO), accrued expenses, prepaid expenses and income taxes.

Prior to the IPO, the Company utilized significant estimates and assumptions in determining the fair value of its common stock. The Company granted stock options at exercise prices not less than the fair market value of its common stock as determined by the Board of Directors contemporaneously at the date such grants were made, with input from management. For periods prior to March 2014, the fair value of common stock at the grant date was adjusted in connection with the Company’s retrospective fair value assessment for financial reporting purposes. Prior to the Company’s IPO, the Board of Directors determined the estimated fair value of the Company’s common stock based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector and the prices at which the Company sold shares of preferred stock, the superior rights and preferences of securities senior to the Company’s common stock at the time and the likelihood of achieving a liquidity event, such as an IPO or sale of the Company.

The Company utilized various valuation methodologies in accordance with the framework of the American Institute of Certified Public Accountants Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation, to estimate the fair value of its common stock in periods prior to March 2014. The methodologies included a probability analysis including both a potential public trading scenario and potential sale scenario. In both scenarios, value is estimated using the guideline public company method. The sale scenario includes an adjustment for a market participant acquisition premium. Value is allocated among the preferred and common shares according to the rights associated with each type of security. Valuation methodologies include estimates and assumptions that require the Company’s judgment. These estimates include assumptions regarding future performance, including the successful completion of a public offering. Significant changes to the key assumptions used in the valuations could result in different fair values of common stock at each valuation date.

Cash and Cash Equivalents

Cash and cash equivalents consist of all cash on hand, deposits and funds invested in available for sale securities with original maturities of three months or less at the time of purchase. At September 30, 2014, the Company’s cash is primarily in money market funds. The Company may maintain balances with its banks in excess of federally insured limits.

Investments

Management determines the appropriate classification of securities at the time of purchase and reevaluates such designation as of each balance sheet date. Currently, the Company classifies all securities as available-for-sale which are included in current assets as they are intended to fund current operations. The Company carries available-for-sale securities at fair value, with temporary unrealized gains and losses, reported in accumulated other comprehensive income, a component of stockholders’ equity (deficit). The amortized cost of debt securities in this category reflects amortization of premiums and accretion of discounts to maturity computed under the effective interest method. The Company includes this amortization in the caption “Interest income (expense), net” within the Condensed Statements of Operations and Comprehensive Loss. We also include in net investment income, realized gains and losses and declines in value determined to be other than temporary. The Company bases the cost of securities sold upon the specific identification method, and includes interest and dividends on securities in interest income.

Research and Development

Costs incurred in connection with research and development activities are expensed as incurred. Research and development expenses consist of (i) employee-related expenses, including salaries, benefits, travel and stock-based compensation expense; (ii) external research and development expenses incurred under arrangements with third parties, such as contract research organizations, investigational sites and consultants; (iii) the cost of acquiring, developing and manufacturing clinical study materials; (iv) facilities and other expenses, which include direct and allocated expenses for rent and maintenance of facilities; and (v) costs associated with preclinical and clinical activities and regulatory operations.

The Company enters into consulting, research and other agreements with commercial firms, researchers, universities and others for the provision of goods and services. Under such agreements, the Company may pay for services on an hourly, monthly, quarterly, project or other basis. Such arrangements are generally cancellable upon reasonable notice and payment of costs incurred. Costs are considered incurred based on an evaluation of the progress to completion of specific tasks under each contract using information and data provided to us by the Company’s clinical sites and vendors. These costs consist of direct and indirect costs associated with specific projects, as well as fees paid to various entities that perform certain research on behalf of the Company.

Patents

Costs incurred in connection with the application for and issuance of patents are expensed as incurred.

Organizational Costs

All organizational costs and start-up costs are expensed as incurred.

Income Taxes

Income taxes are recorded in accordance with FASB Topic 740, Income Taxes (ASC 740), which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided, if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position, as well as consideration of the available facts and circumstances. As of September 30, 2014 and December 31, 2013, the Company does not have any significant uncertain tax positions. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense.

Stock-Based Compensation

The Company accounts for its stock-based compensation awards in accordance with FASB ASC Topic 718, Compensation—Stock Compensation (ASC 718). ASC 718 requires all stock-based payments to employees, including grants of employee stock options and restricted stock and modifications to existing stock awards, to be recognized in the statements of operations and comprehensive loss based on their fair values. The Company accounts for stock-based awards to non-employees in accordance with FASB ASC Topic 505-50, Equity-Based Payments to Non-Employees (ASC 505-50), which requires the fair value of the award to be re-measured at fair value until a performance commitment is reached or counterparty performance is complete. The Company’s stock-based awards are comprised of stock options, shares of restricted stock and shares of common stock. The Company estimates the fair value of options granted using the Black-Scholes option pricing model. The Company uses the value of its common stock to determine the fair value of restricted stock awards and common stock awards.

The Black-Scholes option pricing model requires the input of certain subjective assumptions, including (a) the expected stock price volatility, (b) the calculation of expected term of the award, (c) the risk-free interest rate and (d) expected dividends. Prior to the IPO, due to the lack of a public market for the trading of the Company’s common stock and a lack of company-specific historical and implied volatility data, the Company has based its estimate of expected volatility on the historical volatility of a group of similar companies that are publicly traded. The historical volatility is calculated based on a period of time commensurate with the expected term assumption. The computation of expected volatility is based on the historical volatility of a representative group of companies with similar characteristics to the Company, including stage of product development and life science industry focus. The Company is in a very early stage of product development with no revenue and the representative group of companies has certain similar characteristics to the Company. The Company believes the group selected has sufficient similar economic and industry characteristics, and includes companies that are most representative of the Company The Company uses the simplified method as prescribed by the SEC Staff Accounting Bulletin No. 107, Share-Based Payment, to calculate the expected term for options granted to employees as it does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term. The expected term is applied to the stock option grant group as a whole, as the Company does not expect substantially different exercise or post-vesting termination behavior among its employee population. For options granted to non-employees, the Company utilizes the contractual term of the arrangement as the basis for the expected term assumption. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of the stock options. The expected dividend yield is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock, which is similar to the Company’s peer group.

The Company’s stock-based awards are subject to either service- or performance-based vesting conditions. Compensation expense related to awards to employees with service-based vesting conditions is recognized on a straight-line basis based on the grant date fair value over the associated service period of the award, which is generally the vesting term. Consistent with the guidance in ASC 505- 50, compensation expense related to awards to non-employees with service-based vesting conditions is recognized on a straight-line basis based on the then-current fair value at each financial reporting date prior to the measurement date over the associated service period of the award, which is generally the vesting term. Compensation expense related to awards to employees with performance-based vesting conditions is recognized based on the grant date fair value over the requisite service period using the accelerated attribution method to the extent achievement of the performance condition is probable. Consistent with the guidance in ASC 505-50, compensation expense related to awards to non-employees with performance-based vesting conditions is recognized based on the then-current fair value at each financial reporting date prior to the measurement date over the requisite service period using the accelerated attribution method to the extent achievement of the performance condition is probable.

The Company is also required to estimate forfeitures at the time of grant, and revise those estimates in the subsequent periods if actual forfeitures differ from its estimates. The Company uses historical data to estimate pre-vesting forfeitures and record stock-based compensation expense only for those awards that are expected to vest. To the extent that actual forfeitures differ from the Company’s estimates, the difference is recorded as a cumulative adjustment in the period the estimates were revised. Stock-based compensation expense recognized in the financial statements is based on awards that are ultimately expected to vest.

Fair Value of Financial Instruments

The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. FASB ASC Topic 820, Fair Value Measurements and Disclosures (ASC 820), establishes a hierarchy of inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the observable inputs be used when available.

Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances. The fair value hierarchy applies only to the valuation inputs used in determining the reported fair value of the investments, and is not a measure of the investment credit quality. The three levels of the fair value hierarchy are described below:

·	Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

·	Level 2 – Valuations based on quoted prices for similar assets or liabilities in markets that are not active, or for which all significant inputs are observable, either directly or indirectly.

·	Level 3 – Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable.

To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

Items measured at fair value on a recurring basis include short-term investments (see Note 5). The carrying amounts of accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values due to their short-term maturities. The rate implicit within the Company’s capital lease obligation approximates market interest rates.

Concentrations of Credit Risk and Off-Balance Sheet Risk

Cash, investments and accounts receivable are the only financial instruments that potentially subject the Company to concentrations of credit risk. At September 30, 2014 and December 31, 2013, all of the Company’s cash was deposited in accounts at two principal financial institutions. The Company maintains its cash with high quality, accredited financial institutions and, accordingly, such funds are subject to minimal credit risk. The Company has no significant off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements.

Net Loss per Share

Basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by adjusting weighted-average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method. For purposes of the diluted net loss per share calculation, preferred stock, stock options and unvested restricted stock are considered to be common stock equivalents, but have been excluded from the calculation of diluted net loss per share, as their effect would be anti-dilutive for all periods presented. Therefore, basic and diluted net loss per share were the same for all periods presented.

Property and Equipment

Property and equipment is stated at cost, less accumulated depreciation. Assets under capital lease are included in property and equipment. Property and equipment is depreciated using the straight-line method over the estimated useful lives of the assets, generally three to seven years. Such costs are periodically reviewed for recoverability when impairment indicators are present. Such indicators include, among other factors, operating losses, unused capacity, market value declines and technological obsolescence. Recorded values of asset groups of equipment that are not expected to be recovered through undiscounted future net cash flows are written down to current fair value, which generally is determined from estimated discounted future net cash flows (assets held for use) or net realizable value (assets held for sale).

The following is the summary of property and equipment and related accumulated depreciation as of September 30, 2014 and December 31, 2013.

		September 30,			December 31,
	Useful Life	2014			2013
Computer equipment and software	3	$	82,916		$	19,732
Furniture and fixtures	5		117,657		—
Equipment	7		6,195		—
Leasehold improvements	Shorter of the useful life or remaining lease term (3 years)		20,777		—
Office equipment under capital lease	3		11,916			11,916
			239,461			31,648
Less accumulated depreciation			(34,567	)		(1,282	)
Net property and equipment		$	204,894		$	30,366

Depreciation expense, including expense associated with assets under capital leases, was $13,193 and $26 for the three months ended September 30, 2014 and 2013, respectively and $33,285 and $26 for the nine months ended September 30, 2014 and 2013, respectively.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Distribution of Aerpio Therapeutics, Inc.

9 Months Ended

Sep. 30, 2014

Restructuring And Related Activities [Abstract]

Distribution of Aerpio Therapeutics, Inc.

3. Distribution of Aerpio Therapeutics, Inc.

On December 22, 2011, the Company assigned certain assets and liabilities to a wholly-owned subsidiary, Aerpio Therapeutics, Inc. (Aerpio), which has since operated as an independent, stand-alone company and is no longer a wholly-owned subsidiary. The assigned assets and liabilities included all of the Company’s fixed assets, the Company’s Tie2 activator program, AKB-9778, for diabetic macular edema, the HIF-1 stabilizer program, AKB-4924, for inflammatory bowel disease and contracts, intellectual property, current assets and current liabilities associated with these programs. The Aerpio shares were then distributed to the Company’s shareholders as a distribution on the basis of one share of Aerpio Series A Preferred Stock for every 35 shares of Akebia Series A Preferred Stock owned, one share of Aerpio Series A Preferred Stock for every 100 shares of Akebia Series B Preferred Stock owned, and one share of Aerpio Common Stock for every 175 shares of Akebia Common Stock owned.

Under the terms of administrative services agreements, the Company and Aerpio obtain from and provide to each other certain services beginning in 2012, and as outlined below. These agreements are cancellable upon mutual agreement or a sale of either company.

Below is a summary of the activities included in the statements of operations and comprehensive loss:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
Activity	Financial Statement Caption	2014		2013		2014		2013
Reimbursement from Aerpio for Akebia employee costs	Reimbursements from Aerpio	$	180,132	$	238,107	$	544,471	$	815,704
Facility-related charges from Aerpio	General and administrative Operating expenses	$	10,914	$	2,601	$	58,250	$	186,518

Below is a summary of the receivables and payables included in the balance sheets related to Aerpio:

	Financial	September 30,		December 31,
Activity	Statement Caption	2014		2013
Amounts receivable from Aerpio	Accounts receivables	$	57,245	$	135,339
Amounts payable to Aerpio	Accounts payable	$	7,656	$	62,735

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details

Available for Sale Securities

9 Months Ended

Sep. 30, 2014

Investments Debt And Equity Securities [Abstract]

Available for Sale Securities

4. Available for sale securities

Available for sale securities at September 30, 2014 and December 31, 2013 consist of the following:

			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses			Fair Value
September 30, 2014
Cash and cash equivalents:
Cash and money market account	$	49,667,984		—		—		$	49,667,984
Total cash and cash equivalents	$	49,667,984	$	—	$	—		$	49,667,984
Available for sale securities:
Certificates of deposit	$	10,014,977	—			—		$	10,014,977
U.S. Government debt securities		31,741,636		3,299		(25,976	)		31,718,959
Commercial paper		4,997,360		—		—			4,997,360
Corporate debt securities		21,967,553		—		(28,580	)		21,938,973
Total available for sale securities	$	68,721,526	$	3,299	$	(54,556	)	$	68,670,269
Total cash, cash equivalents, and available for sale securities	$	118,389,510	$	3,299	$	(54,556	)	$	118,338,253

The estimated fair value of the Company’s available for sale securities balance at September 30, 2014, by contractual maturity, is as follows:

Due in one year or less	$	27,333,292
Due after one year		41,336,977
Total available for sale securities	$	68,670,269

			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
December 31, 2013
Cash and cash equivalents:
Cash and money market account	$	21,215,228	$	—	$	—	$	21,215,228
Total cash and cash equivalents	$	21,215,228	$	—	$	—	$	21,215,228
Available for sale securities:
Certificates of deposit	$	1,330,132	$	—	$	—	$	1,330,132
U.S. Government debt securities		7,506,951		2,418		—		7,509,369
Corporate debt securities		2,501,686		54		—		2,501,740
Total available for sale securities	$	11,338,769	$	2,472	$	—	$	11,341,241
Total cash, cash equivalents, and available for sale securities	$	32,553,997	$	2,472	$	—	$	32,556,469

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 320

-Glossary Debt Security

-URI http://asc.fasb.org/extlink&oid=6509901

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-Topic 320

-Glossary Equity Security

-URI http://asc.fasb.org/extlink&oid=6511694

+ Details

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

5. Fair Value of Financial Instruments

The Company utilizes a portfolio management company for the valuation of the majority of its investments. This company is an independent, third-party vendor recognized to be an industry leader with access to market information that obtains or computes fair market values from quoted market prices, pricing for similar securities, recently executed transactions, cash flow models with yield curves and other pricing models. For valuations obtained from the pricing service, the Company performs due diligence to understand how the valuation was calculated or derived, focusing on the valuation technique used and the nature of the inputs.

Based on the fair value hierarchy, the Company classifies its cash equivalents and marketable securities within Level 1 or Level 2. This is because the Company values its cash equivalents and marketable securities using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

Assets measured or disclosed at fair value on a recurring basis as of September 30, 2014 are summarized below:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	49,667,984	$	—	$	—	$	49,667,984
Certificates of deposit		—		10,014,977		—	$	10,014,977
U.S. Government debt securities		—		31,718,959		—	$	31,718,959
Commercial paper		—		4,997,360		—	$	4,997,360
Corporate debt securities		—		21,938,973		—	$	21,938,973
	$	49,667,984	$	68,670,269	$	—	$	118,338,253

The Company’s corporate debt securities are all investment grade.

Assets measured or disclosed at fair value on a recurring basis as of December 31, 2013 are summarized below:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	21,215,228	$	—	$	—	$	21,215,228
Certificates of deposit		—		1,330,132		—		1,330,132
U.S. Government debt securities		—		7,509,369		—		7,509,369
Corporate debt securities		—		2,501,740		—		2,501,740
	$	21,215,228	$	11,341,241	$	—	$	32,556,469

The Company had no assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at September 30, 2014 and December 31, 2013.

Investment securities are exposed to various risks such as interest rate, market and credit. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term would result in material changes in the fair value of investments.

- Definition

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

+ References+ Details

Accrued Expenses

9 Months Ended

Sep. 30, 2014

Payables And Accruals [Abstract]

Accrued Expenses

6. Accrued Expenses

Accrued expenses are as follows:

	September 30,		December 31,
	2014		2013
Professional fees	$	1,887,471	$	2,452,067
Accrued bonus		626,342		439,435
Accrued vacation		179,219		109,921
Accrued severance		180,214		—
Accrued payroll		313,641		—
Other		303,400		186,338
Total accrued expenses	$	3,490,287	$	3,187,761

In February 2014, the Company entered into a separation agreement with an employee primarily as a result of the transition to the Company’s Cambridge, Massachusetts location. During the first quarter of 2014, the Company recorded severance expense in the amount of $323,685, which was recorded to general and administrative expense. During the first nine months of 2014, approximately $189,000 was paid out of the severance accrual. At September 30, 2014, $133,532 remained in accrued expenses in relation to the unpaid severance costs, which will be paid out through February 2015.

In August 2014, the Company entered into a separation agreement with an employee, which became effective on August 13, 2014. The Company will record the expense and liability associated with the separation agreement ratably over the period from August 5, 2014 through December 31, 2015 because the severance payments are subject to continued service and forfeiture until December 31, 2015. During the third quarter of 2014, the Company recorded severance expense in the amount of $46,682, which was recorded to research and development expense and will be paid out beginning January 2015 through December 2015.

Stockholders' Equity

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Stockholders' Equity

7. Stockholders’ Equity

As of September 30, 2014, the authorized capital stock of the Company included 175,000,000 shares of common stock, par value $0.00001 per share and 25,000,000 shares of undesignated preferred stock, par value $0.00001 per share.

On March 6, 2014, the Company effected a 1.75-for-1 stock split of its outstanding common stock. Unless otherwise indicated, all share data and per share amounts in these financial statements have been retroactively adjusted to reflect the stock split, as well as any stock splits that occurred in periods prior to March 6, 2014.

As of December 31, 2013, the authorized capital stock of the Company included 5,500,636 shares of preferred stock, par value $0.00001 per share, of which: (i) 734,538 shares were designated as Series A redeemable convertible preferred stock (Series A Redeemable Convertible Preferred Stock), (ii) 1,287,525 shares were designated as Series B redeemable convertible preferred stock (Series B Redeemable Convertible Preferred Stock), (iii) 3,428,572 shares were designated as Series C redeemable convertible preferred stock (Series C Redeemable Convertible Preferred Stock) and (iv) 50,001 shares were designated as Series X convertible preferred stock (Series X Convertible Preferred Stock). There is no outstanding Series X Convertible Preferred Stock as of December 31, 2013. The Series A Redeemable Convertible Preferred Stock, the Series B Redeemable Convertible Preferred Stock and the Series C Redeemable Convertible Preferred Stock are collectively referred to as the Redeemable Convertible Preferred Stock.

Upon the closing of the IPO on March 25, 2014, all of the outstanding shares of the Company’s redeemable convertible preferred stock were converted into 12,115,183 shares of its common stock. As of September 30, 2014, the Company does not have any redeemable convertible preferred stock issued or outstanding.

Reserved for Future Issuance

As of September 30, 2014 and December 31, 2013 based on the authorized shares for each series, the Company has reserved the following shares of common stock for future issuance:

	September 30,		December 31,
	2014		2013
Conversion of Series A Redeemable Convertible Preferred Stock		—		3,672,673
Conversion of Series B Redeemable Convertible Preferred Stock		—		2,253,157
Conversion of Series C Redeemable Convertible Preferred Stock		—		6,296,451
Options to purchase common stock		1,596,538		1,251,398
Shares available for future issuance		1,555,254		155,108
Total		3,151,792		13,628,787

- 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

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-Name Accounting Standards Codification

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-Number 210

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-Number 210

-Section 08

-Article 4

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-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

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-Number 210

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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes Deferred tax assets and deferred tax liabilities are recognized based on temporary differences between the financial reporting and tax basis of assets and liabilities using statutory rates. A valuation allowance is recorded against deferred tax assets if it is more likely than not that some or all of the deferred tax assets will not be realized. There were no significant income tax provisions or benefits for the three and nine months ended September 30, 2014 and 2013. Due to the uncertainty surrounding the realization of the favorable tax attributes in future tax returns, the Company has recorded a full valuation allowance against the Company’s otherwise recognizable net deferred tax assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Commitments and Contingencies

9 Months Ended

Sep. 30, 2014

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

9. Commitments and Contingencies

In December 2013, the Company entered into a three-year lease for 6,837 square feet of office space in Cambridge, Massachusetts. The lease has monthly lease payments of approximately $31,000 for the first twelve months, with annual rent escalation thereafter, and provides a rent abatement of approximately $31,000 for the first full calendar month of the lease term. The lease term commenced and rental payments began in January 2014. The Company has recorded a deferred lease obligation in 2014 which represents the cumulative difference between actual facility lease payments and lease expense recognized ratably over the lease period, which is included in other liabilities. In accordance with the lease, the Company entered into a cash-collateralized irrevocable standby letter of credit in the amount of $125,345, naming the landlord as beneficiary. The Company did not have rent expense associated with this lease in 2013.

The Company leases office equipment under a three year capital lease with payments commencing in February 2014.

At September 30, 2014, the Company’s future minimum payments required under these leases are as follows:

	Operating		Capital
	Lease		Lease			Total
2014	$	94,009	$	1,050		$	95,059
2015		382,872		4,200			387,072
2016		389,709		4,200		$	393,909
2017		—		350			350
Total	$	866,590		9,800		$	876,390
Less amount representing interest				(467	)
Present value of minimum lease payments at September 30, 2014			$	9,333

The Company contracts with various organizations to conduct research and development activities with remaining contract costs to the Company of approximately $6,628,384 and $4,477,081 at September 30, 2014 and December 31, 2013, respectively. The scope of the services under the research and development contracts can be modified and the contracts cancelled by the Company upon written notice. In some instances the contracts may be cancelled by the third party upon written notice.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Stock-Based Compensation

9 Months Ended

Sep. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

10. Stock-Based Compensation

On February 28, 2014, the Company’s Board of Directors adopted its 2014 Incentive Plan (2014 Plan), which was subsequently approved by its stockholders and became effective upon the closing of the Company’s IPO on March 25, 2014. The 2014 Plan replaces the 2008 Equity Incentive Plan (2008 Plan).

The 2014 Plan allows for the granting of stock options, stock appreciation rights, or SARs, restricted stock, unrestricted stock, stock units, performance awards and other awards convertible into or otherwise based on shares of our common stock. Dividend equivalents may also be provided in connection with an award under the 2014 Plan. The Company’s employees, officers, directors and consultants and advisors are eligible to receive awards under the 2014 Plan. The Company initially reserved 1,785,000 shares of its common stock for the issuance of awards under the 2014 Plan. The 2014 Plan provides that the number of shares reserved and available for issuance under the 2014 Plan will automatically increase annually on January 1^st of each calendar year, by an amount equal to three percent (3%) of the number of shares of stock outstanding on a fully diluted basis as of the close of business on the immediately preceding December 31^st. The Company’s Board of Directors may act prior to January 1^st of any year to provide that there will be no automatic increase in the number of shares available for grant under the 2014 Plan for that year (or that the increase will be less than the amount that would otherwise have automatically been made). Subject to adjustment, no more than 1,980,890 shares of our common stock may be delivered in satisfaction of incentive stock options awarded under the 2014 Plan.

Any options or awards outstanding under the 2008 Plan at the time of adoption of the 2014 Plan remain outstanding and effective. As of September 30, 2014, the total number of common shares that may be issued under all equity award plans is 3,151,792 and approximately 1,555,254 shares remain available for future grants.

During the first nine months of 2014, the Company granted 398,189 stock options to employees, 77,525 stock options to a director and 56,000 shares of restricted stock to a former employee.

Stock Options

The options granted to directors and non-employees vest over periods of between 12 and 48 months. For employees with less than one year’s worth of service, options vest in installments of (i) 25% at the one year anniversary and (ii) in either 36 equal monthly or 12 equal quarterly installments beginning in the thirteenth month after the initial Vesting Commencement Date (as defined) or grant date, subject to the employee’s continuous service with the Company. Options granted to other employees vest in 48 equal monthly installments after the initial Vesting Commencement Date (as defined) or grant date, subject to the employee’s continuous service with the Company. Options generally expire ten years after the date of grant.

Restricted Stock

On December 23, 2013, the Company issued 450,224 shares of restricted stock to employees and 79,067 shares of restricted stock to non-employees at a grant date fair value of $7.42 per share. The awards of restricted stock contain a performance condition wherein vesting is contingent upon the Company’s consummation of a liquidity event, as defined, prior to the fifth anniversary of the date of grant. Certain of the awards of restricted stock have a requisite service period that was complete upon grant. The remainder of the awards of restricted stock have a requisite service period of four years whereby the award vests 25% on the one year anniversary of the Vesting Commencement Date (as defined), then ratably on the first day of each calendar quarter for 12 quarters, subject to continuous service by the individual and achievement of the performance target. Due to the nature of the performance condition, recognition of compensation cost had been deferred until the occurrence of a liquidity event, as defined. The liquidity event occurred upon the closing of the IPO on March 25, 2014.

Compensation Expense Summary

The Company has recognized the following compensation cost related to share-based awards:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Research and development	$	582,900	$	24,222	$	2,489,049	$	63,684
General and administrative		651,856		306,037		2,634,515		374,368
Total	$	1,234,756	$	330,259	$	5,123,564	$	438,052

Compensation expense by type of award:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Stock options	$	554,031	$	17,542	$	1,329,715	$	38,167
Restricted stock		680,725		312,717		3,793,849		399,885
Total	$	1,234,756	$	330,259	$	5,123,564	$	438,052

Included in the compensation expense for the nine months ended September 30, 2014, is approximately $1.0 million related to the modification of awards in connection with an employee separation agreement in the first quarter of 2014.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Employee Retirement Plan	9 Months Ended
Employee Retirement Plan	Sep. 30, 2014
Compensation And Retirement Disclosure [Abstract]
Employee Retirement Plan	11. Employee Retirement Plan During 2008, the Company established a retirement plan (the Plan) authorized by Section 401(k) of the Internal Revenue Code. In accordance with the Plan, all employees who have attained the age of 21 are eligible to participate in the Plan as of the first Entry Date, as defined, following their date of employment. Each employee can contribute a percentage of compensation up to a maximum of the statutory limits per year. Company contributions are discretionary, and no contributions were made during the nine months ended September 30, 2014 or 2013.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References+ Details

Net Loss per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Net Loss per Share

12. Net Loss per Share

The following table presents the calculation of basic and diluted net loss per share applicable to common stockholders:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
Numerator:
Net loss	$	(9,348,391	)	$	(3,767,890	)	$	(26,663,829	)	$	(7,219,236	)
Accretion on preferred stock		—			(2,748,232	)		(86,899,555	)		(52,861,367	)
Net loss applicable to common stockholders	$	(9,348,391	)	$	(6,516,122	)	$	(113,563,384	)	$	(60,080,603	)

Denominator:
Weighted-average number of common shares – basic and diluted		19,691,167			546,714			13,920,651			509,425
Net loss per share applicable to common stockholders – basic and diluted	$	(0.47	)	$	(11.92	)	$	(8.16	)	$	(117.94	)

The amounts in the table below were excluded from the calculation of diluted net loss per share, prior to the use of the treasury stock method, due to their anti-dilutive effect:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Preferred stock		—		11,882,768		—		11,882,768
Outstanding stock options		1,596,538		1,229,594		1,596,538		1,229,594
Unvested restricted stock		563,810		110,521		563,810		110,521
Total		2,160,348		13,222,883		2,160,348		13,222,883

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Accumulated Other Comprehensive Loss

13. Accumulated Other Comprehensive Loss

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss, net of tax:

	Unrealized Loss on
	Investments			Total
Balance at December 31, 2013	$	—		$	—
Other comprehensive loss before reclassifications		(51,257	)		(51,257	)
Net current-period other comprehensive loss		(51,257	)		(51,257	)
Balance at September 30, 2014	$	(51,257	)	$	(51,257	)

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

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-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

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-Paragraph 12

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-Name Accounting Standards Codification

-Topic 220

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-Paragraph 17

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-Name Accounting Standards Codification

-Topic 220

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-Paragraph 16

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-Publisher FASB

-Name Accounting Standards Codification

-Glossary Reclassification Adjustments

-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Initial Public Offering

Basis of Presentation

Recent Accounting Pronouncements

Segment Information

Use of Estimates

Cash and Cash Equivalents

Investments

Research and Development

Patents

Costs incurred in connection with the application for and issuance of patents are expensed as incurred.

Organizational Costs

All organizational costs and start-up costs are expensed as incurred.

Income Taxes

Stock-Based Compensation

Fair Value of Financial Instruments

·	Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

·	Level 2 – Valuations based on quoted prices for similar assets or liabilities in markets that are not active, or for which all significant inputs are observable, either directly or indirectly.

·	Level 3 – Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable.

Concentrations of Credit Risk and Off-Balance Sheet Risk

Net Loss per Share

Property and Equipment

The following is the summary of property and equipment and related accumulated depreciation as of September 30, 2014 and December 31, 2013.

		September 30,			December 31,
	Useful Life	2014			2013
Computer equipment and software	3	$	82,916		$	19,732
Furniture and fixtures	5		117,657		—
Equipment	7		6,195		—
Leasehold improvements	Shorter of the useful life or remaining lease term (3 years)		20,777		—
Office equipment under capital lease	3		11,916			11,916
			239,461			31,648
Less accumulated depreciation			(34,567	)		(1,282	)
Net property and equipment		$	204,894		$	30,366

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Summary of Equipment and Related Accumulated Depreciation

The following is the summary of property and equipment and related accumulated depreciation as of September 30, 2014 and December 31, 2013.

		September 30,			December 31,
	Useful Life	2014			2013
Computer equipment and software	3	$	82,916		$	19,732
Furniture and fixtures	5		117,657		—
Equipment	7		6,195		—
Leasehold improvements	Shorter of the useful life or remaining lease term (3 years)		20,777		—
Office equipment under capital lease	3		11,916			11,916
			239,461			31,648
Less accumulated depreciation			(34,567	)		(1,282	)
Net property and equipment		$	204,894		$	30,366

Distribution of Aerpio Therapeutics, Inc. (Tables) (Aerpio Therapeutics, Inc.)

9 Months Ended

Sep. 30, 2014

Aerpio Therapeutics, Inc.

Summary of Activities Included in Statements of Operations and Comprehensive Loss

Below is a summary of the activities included in the statements of operations and comprehensive loss:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
Activity	Financial Statement Caption	2014		2013		2014		2013
Reimbursement from Aerpio for Akebia employee costs	Reimbursements from Aerpio	$	180,132	$	238,107	$	544,471	$	815,704
Facility-related charges from Aerpio	General and administrative Operating expenses	$	10,914	$	2,601	$	58,250	$	186,518

Summary of Receivables and Payables Included in Balance Sheet

Below is a summary of the receivables and payables included in the balance sheets related to Aerpio:

	Financial	September 30,		December 31,
Activity	Statement Caption	2014		2013
Amounts receivable from Aerpio	Accounts receivables	$	57,245	$	135,339
Amounts payable to Aerpio	Accounts payable	$	7,656	$	62,735

Available for Sale Securities (Tables)

9 Months Ended

Sep. 30, 2014

Investments Debt And Equity Securities [Abstract]

Summary of Available for Sale Securities at Fair Value

Available for sale securities at September 30, 2014 and December 31, 2013 consist of the following:

			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses			Fair Value
September 30, 2014
Cash and cash equivalents:
Cash and money market account	$	49,667,984		—		—		$	49,667,984
Total cash and cash equivalents	$	49,667,984	$	—	$	—		$	49,667,984
Available for sale securities:
Certificates of deposit	$	10,014,977	—			—		$	10,014,977
U.S. Government debt securities		31,741,636		3,299		(25,976	)		31,718,959
Commercial paper		4,997,360		—		—			4,997,360
Corporate debt securities		21,967,553		—		(28,580	)		21,938,973
Total available for sale securities	$	68,721,526	$	3,299	$	(54,556	)	$	68,670,269
Total cash, cash equivalents, and available for sale securities	$	118,389,510	$	3,299	$	(54,556	)	$	118,338,253

			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
December 31, 2013
Cash and cash equivalents:
Cash and money market account	$	21,215,228	$	—	$	—	$	21,215,228
Total cash and cash equivalents	$	21,215,228	$	—	$	—	$	21,215,228
Available for sale securities:
Certificates of deposit	$	1,330,132	$	—	$	—	$	1,330,132
U.S. Government debt securities		7,506,951		2,418		—		7,509,369
Corporate debt securities		2,501,686		54		—		2,501,740
Total available for sale securities	$	11,338,769	$	2,472	$	—	$	11,341,241
Total cash, cash equivalents, and available for sale securities	$	32,553,997	$	2,472	$	—	$	32,556,469

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References+ Details

Investments (Tables)

9 Months Ended

Sep. 30, 2014

Investments Debt And Equity Securities [Abstract]

Estimated Fair Value of Available for Sale Securities at Fair Value by Contractual Maturity

The estimated fair value of the Company’s available for sale securities balance at September 30, 2014, by contractual maturity, is as follows:

Due in one year or less	$	27,333,292
Due after one year		41,336,977
Total available for sale securities	$	68,670,269

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Assets Measured or Disclosed at Fair Value on Recurring Basis

Assets measured or disclosed at fair value on a recurring basis as of September 30, 2014 are summarized below:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	49,667,984	$	—	$	—	$	49,667,984
Certificates of deposit		—		10,014,977		—	$	10,014,977
U.S. Government debt securities		—		31,718,959		—	$	31,718,959
Commercial paper		—		4,997,360		—	$	4,997,360
Corporate debt securities		—		21,938,973		—	$	21,938,973
	$	49,667,984	$	68,670,269	$	—	$	118,338,253

Assets measured or disclosed at fair value on a recurring basis as of December 31, 2013 are summarized below:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	21,215,228	$	—	$	—	$	21,215,228
Certificates of deposit		—		1,330,132		—		1,330,132
U.S. Government debt securities		—		7,509,369		—		7,509,369
Corporate debt securities		—		2,501,740		—		2,501,740
	$	21,215,228	$	11,341,241	$	—	$	32,556,469

Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2014

Payables And Accruals [Abstract]

Components of Accrued Expenses

Accrued expenses are as follows:

	September 30,		December 31,
	2014		2013
Professional fees	$	1,887,471	$	2,452,067
Accrued bonus		626,342		439,435
Accrued vacation		179,219		109,921
Accrued severance		180,214		—
Accrued payroll		313,641		—
Other		303,400		186,338
Total accrued expenses	$	3,490,287	$	3,187,761

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Summary of Reserved Shares of Common Stock for Future Issuance

As of September 30, 2014 and December 31, 2013 based on the authorized shares for each series, the Company has reserved the following shares of common stock for future issuance:

	September 30,		December 31,
	2014		2013
Conversion of Series A Redeemable Convertible Preferred Stock		—		3,672,673
Conversion of Series B Redeemable Convertible Preferred Stock		—		2,253,157
Conversion of Series C Redeemable Convertible Preferred Stock		—		6,296,451
Options to purchase common stock		1,596,538		1,251,398
Shares available for future issuance		1,555,254		155,108
Total		3,151,792		13,628,787

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References+ Details

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2014

Commitments And Contingencies Disclosure [Abstract]

Schedule of Future Minimum Payments Required Under Leases

At September 30, 2014, the Company’s future minimum payments required under these leases are as follows:

	Operating		Capital
	Lease		Lease			Total
2014	$	94,009	$	1,050		$	95,059
2015		382,872		4,200			387,072
2016		389,709		4,200		$	393,909
2017		—		350			350
Total	$	866,590		9,800		$	876,390
Less amount representing interest				(467	)
Present value of minimum lease payments at September 30, 2014			$	9,333

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References+ Details

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Compensation Cost Related to Share-Based Awards

The Company has recognized the following compensation cost related to share-based awards:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Research and development	$	582,900	$	24,222	$	2,489,049	$	63,684
General and administrative		651,856		306,037		2,634,515		374,368
Total	$	1,234,756	$	330,259	$	5,123,564	$	438,052

Schedule of Compensation Expense by Type of Award

Compensation expense by type of award:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Stock options	$	554,031	$	17,542	$	1,329,715	$	38,167
Restricted stock		680,725		312,717		3,793,849		399,885
Total	$	1,234,756	$	330,259	$	5,123,564	$	438,052

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details

Net Loss per Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Net Loss per Share

The following table presents the calculation of basic and diluted net loss per share applicable to common stockholders:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
Numerator:
Net loss	$	(9,348,391	)	$	(3,767,890	)	$	(26,663,829	)	$	(7,219,236	)
Accretion on preferred stock		—			(2,748,232	)		(86,899,555	)		(52,861,367	)
Net loss applicable to common stockholders	$	(9,348,391	)	$	(6,516,122	)	$	(113,563,384	)	$	(60,080,603	)

Denominator:
Weighted-average number of common shares – basic and diluted		19,691,167			546,714			13,920,651			509,425
Net loss per share applicable to common stockholders – basic and diluted	$	(0.47	)	$	(11.92	)	$	(8.16	)	$	(117.94	)

Anti-Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share

The amounts in the table below were excluded from the calculation of diluted net loss per share, prior to the use of the treasury stock method, due to their anti-dilutive effect:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Preferred stock		—		11,882,768		—		11,882,768
Outstanding stock options		1,596,538		1,229,594		1,596,538		1,229,594
Unvested restricted stock		563,810		110,521		563,810		110,521
Total		2,160,348		13,222,883		2,160,348		13,222,883

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Changes in Accumulated other Comprehensive Income Loss

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss, net of tax:

	Unrealized Loss on
	Investments			Total
Balance at December 31, 2013	$	—		$	—
Other comprehensive loss before reclassifications		(51,257	)		(51,257	)
Net current-period other comprehensive loss		(51,257	)		(51,257	)
Balance at September 30, 2014	$	(51,257	)	$	(51,257	)

Nature of Organization and Operations - Additional Information (Details)	0 Months Ended	9 Months Ended
	Mar. 06, 2014	Sep. 30, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Stock split, conversion ratio	1.75
Entity incorporation date		Feb. 27, 2007

Summary of Significant Accounting Policies - Additional Information (Details) (USD $)	3 Months Ended			9 Months Ended			0 Months Ended
	Sep. 30, 2014	Mar. 25, 2014	Sep. 30, 2013	Sep. 30, 2014 Segment	Sep. 30, 2013	Dec. 31, 2013	Mar. 25, 2014 IPO	Mar. 25, 2014 Overallotment option granted to underwriters
Summary Of Significant Accounting Policies [Line Items]
Common stock, shares issued	20,300,243			20,300,243		1,383,345	6,762,000
Common stock sold								879,647
Sale of stock, price per share							$ 17.00
Proceeds from issuance of initial public offering							$ 104,364,560
Convertible redeemable preferred stock converted into common stock	0	12,115,183		0			12,115,183
Common stock, shares authorized	175,000,000	175,000,000		175,000,000		14,700,000
Preferred stock, shares authorized	25,000,000	25,000,000		25,000,000		0
Accretion on preferred stock		86,899,555	2,748,232	86,899,555	52,861,367
Number of operating segments				1
Short-term investments, maturities				three months or less
Significant uncertain tax positions	0			0		0
Revenue				0
Expected dividend yield				0.00%
Property, plant and equipment, Useful life				3 years
Depreciation expense	$ 13,193		$ 26	$ 33,285	$ 26

Summary of Significant Accounting Policies - Summary of Property and Equipment and Related Accumulated Depreciation (Details) (USD $)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Useful life	3 years
Gross property, plant and equipment	$ 239,461	$ 31,648
Less accumulated depreciation	(34,567)	(1,282)
Net property and equipment	204,894	30,366
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Useful life	3 years
Gross property, plant and equipment	82,916	19,732
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Useful life	5 years
Gross property, plant and equipment	117,657
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Useful life	7 years
Gross property, plant and equipment	6,195
Leasehold improvements
Property, Plant and Equipment [Line Items]
Leasehold improvements, Useful Life	Shorter of the useful life or remaining lease term (3 years)
Gross property, plant and equipment	20,777
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Useful life	3 years
Office equipment under capital lease
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Useful life	3 years
Gross property, plant and equipment	$ 11,916	$ 11,916

Distribution of Aerpio Therapeutics, Inc. - Additional Information (Details)	9 Months Ended	0 Months Ended
	Sep. 30, 2014	Dec. 22, 2011 Common Stock	Dec. 22, 2011 Series A redeemable convertible preferred stock	Dec. 22, 2011 Series B redeemable convertible preferred stock
Subsidiary or Equity Method Investee [Line Items]
Conversion basis for stock	Aerpio shares were then distributed to the Company’s shareholders as a distribution on the basis of one share of Aerpio Series A Preferred Stock for every 35 shares of Akebia Series A Preferred Stock owned, one share of Aerpio Series A Preferred Stock for every 100 shares of Akebia Series B Preferred Stock owned, and one share of Aerpio Common Stock for every 175 shares of Akebia Common Stock owned.
Conversion of stock, shares converted		175	35	100

Distribution of Aerpio Therapeutics, Inc. - Summary of Activities Included in Statements of Operations and Comprehensive Loss (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Subsidiary or Equity Method Investee [Line Items]
Reimbursement from Aerpio for Akebia employee costs	$ 180,000	$ 238,000	$ 544,000	$ 816,000
Aerpio Therapeutics, Inc.
Subsidiary or Equity Method Investee [Line Items]
Reimbursement from Aerpio for Akebia employee costs	180,132	238,107	544,471	815,704
Facility-related charges from Aerpio	$ 10,914	$ 2,601	$ 58,250	$ 186,518

Distribution of Aerpio Therapeutics, Inc. - Summary of Receivables and Payables Included in Balance Sheet (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Subsidiary or Equity Method Investee [Line Items]
Amounts receivable from Aerpio	$ 57,000	$ 135,000
Amounts payable to Aerpio	3,032,000	714,000
Aerpio Therapeutics, Inc.
Subsidiary or Equity Method Investee [Line Items]
Amounts receivable from Aerpio	57,245	135,339
Amounts payable to Aerpio	$ 7,656	$ 62,735

Available for Sale Securities - Summary of Available for sale securities at Fair Value (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 68,721,526	$ 11,338,769
Gross Unrealized Gains	3,299	2,472
Gross Unrealized Losses	(54,556)
Fair Value	68,670,269	11,341,241
Amortized Cost	118,389,510	32,553,997
Fair Value	118,338,253	32,556,469
Cash and cash equivalents	49,667,984	21,215,228	24,603,000	1,641,000
Cash and cash equivalents, fair value	49,667,984	21,215,228
Certificates of deposit
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	10,014,977	1,330,132
Gross Unrealized Losses
Fair Value	10,014,977	1,330,132
U.S. Government debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	31,741,636	7,506,951
Gross Unrealized Gains	3,299	2,418
Gross Unrealized Losses	(25,976)
Fair Value	31,718,959	7,509,369
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	4,997,360
Fair Value	4,997,360
Corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	21,967,553	2,501,686
Gross Unrealized Gains		54
Gross Unrealized Losses	(28,580)
Fair Value	$ 21,938,973	$ 2,501,740

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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- 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.

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Available for Sale Securities - Estimated Fair Value of Available for Sale Securities by Contractual Maturity (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Investments Debt And Equity Securities [Abstract]
Due in one year or less	$ 27,333,292
Due after one year	41,336,977
Total available for sale securities	$ 68,670,269	$ 11,341,241

Fair Value of Financial Instruments - Additional Information (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets Measured at fair value on recurring basis	$ 118,338,253	$ 32,556,469
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets Measured at fair value on recurring basis	0	0
Liabilities measured at fair value on recurring basis	$ 0	$ 0

Accrued Expenses - Components of Accrued Expenses (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Payables And Accruals [Abstract]
Professional fees	$ 1,887,471	$ 2,452,067
Accrued bonus	626,342	439,435
Accrued vacation	179,219	109,921
Accrued severance	180,214
Accrued payroll	313,641
Other	303,400	186,338
Total accrued expenses	$ 3,490,287	$ 3,187,761

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable for incentive compensation awarded to employees and directors or earned by them based on the terms of one or more relevant arrangements. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of the obligations incurred through that date and payable for employees' services provided. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Accrued Expenses - Additional Information (Details) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2014	Sep. 30, 2013	Sep. 30, 2014
Accrued Expenses [Line Items]
Severance expense	$ 323,685	$ 46,682
Payment out of severance accrual			189,000
Accrued severance			180,214
Severance agreement description			In August 2014, the Company entered into a separation agreement with an employee, which became effective on August 13, 2014. The Company will record the expense and liability associated with the separation agreement ratably over the period from August 5, 2014 through December 31, 2015 because the severance payments are subject to continued service and forfeiture until December 31, 2015. During the third quarter of 2014, the Company recorded severance expense in the amount of $46,682, which was recorded to research and development expense and will be paid out beginning January 2015 through December 2015.
Paid Out Through February 2015
Accrued Expenses [Line Items]
Accrued severance			$ 133,532
Payment date for unpaid severance costs			unpaid severance costs, which will be paid out through February 2015
Paid Out Beginning January 2015 Through December 2015
Accrued Expenses [Line Items]
Payment date for unpaid severance costs			Will be paid out beginning January 2015 through December 2015

- Definition

Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation.

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Stockholders' Equity - Additional Information (Details) (USD $)	0 Months Ended
	Mar. 06, 2014	Sep. 30, 2014	Mar. 25, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Common stock, shares authorized		175,000,000	175,000,000	14,700,000
Common stock, par value		$ 0.00001		$ 0.00001
Preferred stock, shares authorized		25,000,000	25,000,000	0
Preferred stock, par value		$ 0.00001		$ 0.00001
Stock split, conversion ratio	1.75
Redeemable convertible preferred stock, par value		$ 0.00001		$ 0.00001
Redeemable convertible preferred stock, shares authorized		0		5,500,636
Convertible redeemable preferred stock converted into common stock		0	12,115,183
Series A redeemable convertible preferred stock
Class of Stock [Line Items]
Redeemable convertible preferred stock, shares authorized				734,538
Redeemable convertible preferred stock, shares outstanding		0		734,538
Series B redeemable convertible preferred stock
Class of Stock [Line Items]
Redeemable convertible preferred stock, shares authorized				1,287,525
Redeemable convertible preferred stock, shares outstanding		0		1,287,525
Series C redeemable convertible preferred stock
Class of Stock [Line Items]
Redeemable convertible preferred stock, shares authorized				3,428,572
Redeemable convertible preferred stock, shares outstanding		0		3,302,885
Series X Preferred Stock
Class of Stock [Line Items]
Redeemable convertible preferred stock, shares authorized				50,001
Redeemable convertible preferred stock, shares outstanding				0

Stockholders' Equity - Summary of Reserved Shares of Common Stock for Future Issuance (Details)	Sep. 30, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Common stock, shares reserved for future issuance	3,151,792	13,628,787
Series A redeemable convertible preferred stock
Class of Stock [Line Items]
Common stock, shares reserved for future issuance		3,672,673
Series B redeemable convertible preferred stock
Class of Stock [Line Items]
Common stock, shares reserved for future issuance		2,253,157
Series C redeemable convertible preferred stock
Class of Stock [Line Items]
Common stock, shares reserved for future issuance		6,296,451
Options to purchase common stock
Class of Stock [Line Items]
Common stock, shares reserved for future issuance	1,596,538	1,251,398
Shares available for future issuance
Class of Stock [Line Items]
Common stock, shares reserved for future issuance	1,555,254	155,108

Income Taxes - Additional Information (Details) (USD $)	3 Months Ended		9 Months Ended
Income Taxes - Additional Information (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]
Income tax provisions or benefits	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies - Additional Information (Details) (USD $)	1 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2013 sqft	Sep. 30, 2014	Dec. 31, 2013 sqft
Commitments And Contingencies Disclosure [Abstract]
Lease period	3 years
Area of property leased	6,837		6,837
Monthly lease payments	$ 31,000
Rent abatement	31,000		31,000
Lease commenced and rental payments period	2014-01
Cash-collateralized irrevocable standby letter of credit	125,345		125,345
Rent expense associated with lease			0
Capital lease term		3 years
Capital lease commencement period		2014-02
Contract cost incurred in research and development activities		$ 6,628,384	$ 4,477,081

Commitments and Contingencies - Schedule of Future Minimum Payments Required Under Leases (Details) (USD $)	Sep. 30, 2014
Commitments And Contingencies Disclosure [Abstract]
Operating Lease, 2014	$ 94,009
Operating Lease, 2015	382,872
Operating Lease, 2016	389,709
Operating Lease, Total	866,590
Capital Lease, 2014	1,050
Capital Lease, 2015	4,200
Capital Lease, 2016	4,200
Capital Lease, 2017	350
Capital Lease	9,800
Capital Lease, Less amount representing interest	(467)
Capital Lease, Present value of minimum lease payments at September 30, 2014	9,333
Operating and Capital Lease, 2014	95,059
Operating and Capital Lease, 2015	387,072
Operating and Capital Lease, 2016	393,909
Operating and Capital Lease, 2017	350
Operating and Capital Lease, Total	$ 876,390

Stock-Based Compensation - Additional Information (Details) (USD $)	3 Months Ended		9 Months Ended			9 Months Ended					0 Months Ended	3 Months Ended		9 Months Ended			0 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Sep. 30, 2014 Employee Separation Agreement	Sep. 30, 2014 Employees	Sep. 30, 2014 Director	Sep. 30, 2014 Shares available under all equity award plans for future issuance	Dec. 31, 2013 Shares available under all equity award plans for future issuance	Dec. 23, 2013 Restricted Stock	Sep. 30, 2014 Restricted Stock	Sep. 30, 2013 Restricted Stock	Sep. 30, 2014 Restricted Stock	Sep. 30, 2013 Restricted Stock	Sep. 30, 2014 Restricted Stock Former Employee	Dec. 23, 2013 Restricted Stock Employees	Dec. 23, 2013 Restricted Stock Non-Employees	Sep. 30, 2014 Stock Options	Sep. 30, 2013 Stock Options	Sep. 30, 2014 Stock Options	Sep. 30, 2013 Stock Options	Sep. 30, 2014 Maximum Stock Options	Sep. 30, 2014 Maximum Stock Options Director	Sep. 30, 2014 Maximum Non Employee Stock Options	Sep. 30, 2014 Minimum Stock Options	Sep. 30, 2014 Minimum Stock Options Director	Sep. 30, 2014 Minimum Non Employee Stock Options	Sep. 30, 2014 2014 Incentive Plan	Sep. 30, 2014 2014 Incentive Plan Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares reserved for future issuance	3,151,792		3,151,792		13,628,787				1,555,254	155,108																			1,785,000	1,980,890
Incremental rate at which the shares reserved for issuance increase																													3.00%
Granted shares							398,189	77,525
Granted shares of restricted stock																56,000	450,224	79,067
Vesting periods																							48 months	48 months	48 months	12 months	12 months	12 months
Stock-based compensation description																					For employees with less than one year’s worth of service, options vest in installments of (i) 25% at the one year anniversary and (ii) in either 36 equal monthly or 12 equal quarterly installments beginning in the thirteenth month after the initial Vesting Commencement Date (as defined) or grant date, subject to the employee’s continuous service with the Company. Options granted to other employees vest in 48 equal monthly installments after the initial Vesting Commencement Date (as defined) or grant date, subject to the employee’s continuous service with the Company.
Options expiration after the date of grant																					10 years
Grant date fair value per share											$ 7.42
Restricted stock requisite service period description														The awards of restricted stock contain a performance condition wherein vesting is contingent upon the Company’s consummation of a liquidity event, as defined, prior to the fifth anniversary of the date of grant. Certain of the awards of restricted stock have a requisite service period that was complete upon grant. The remainder of the awards of restricted stock have a requisite service period of four years whereby the award vests 25% on the one year anniversary of the Vesting Commencement Date (as defined), then ratably on the first day of each calendar quarter for 12 quarters, subject to continuous service by the individual and achievement of the performance target.
Stock based compensation expense	$ 1,234,756	$ 330,259	$ 5,123,564	$ 438,052		$ 1,000,000						$ 680,725	$ 312,717	$ 3,793,849	$ 399,885				$ 554,031	$ 17,542	$ 1,329,715	$ 38,167

Stock-Based Compensation - Compensation Cost Related to Share-Based Awards (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock based compensation expense	$ 1,234,756	$ 330,259	$ 5,123,564	$ 438,052
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock based compensation expense	582,900	24,222	2,489,049	63,684
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock based compensation expense	$ 651,856	$ 306,037	$ 2,634,515	$ 374,368

Stock-Based Compensation - Schedule of Compensation Expense by Type of Award (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock based compensation expense	$ 1,234,756	$ 330,259	$ 5,123,564	$ 438,052
Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock based compensation expense	554,031	17,542	1,329,715	38,167
Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock based compensation expense	$ 680,725	$ 312,717	$ 3,793,849	$ 399,885

Employee Retirement Plan - Additional Information (Details) (USD $)	9 Months Ended
	Sep. 30, 2014 Year	Sep. 30, 2013
Compensation And Retirement Disclosure [Abstract]
Employers contributions to defined contribution plan	$ 0	$ 0
Employees eligibility age to participate in retirement plan	21

Net Loss per Share - Calculation of Basic and Diluted Net Loss per Share (Details) (USD $)	3 Months Ended			9 Months Ended
	Sep. 30, 2014	Mar. 25, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Numerator:
Net loss	$ (9,348,391)		$ (3,767,890)	$ (26,663,829)	$ (7,219,236)
Accretion on preferred stock		(86,899,555)	(2,748,232)	(86,899,555)	(52,861,367)
Net loss applicable to common stockholders	$ (9,348,391)		$ (6,516,122)	$ (113,563,384)	$ (60,080,603)
Denominator:
Weighted-average number of common shares – basic and diluted	19,691,167		546,714	13,920,651	509,425
Net loss per share applicable to common stockholders—basic and diluted	$ (0.47)		$ (11.92)	$ (8.16)	$ (117.94)

- Definition

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

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Net Loss per Share - Anti-Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	2,160,348	13,222,883	2,160,348	13,222,883
Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share		11,882,768		11,882,768
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	1,596,538	1,229,594	1,596,538	1,229,594
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	563,810	110,521	563,810	110,521

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

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Accumulated Other Comprehensive Loss - Changes in Accumulated other Comprehensive Income Loss (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31, 2013	$ 0
Other comprehensive loss before reclassifications	(51,257)
Net current-period other comprehensive loss	(51,257)
Balance at September 30, 2014	(51,257)
Unrealized Loss on Investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31, 2013	0
Other comprehensive loss before reclassifications	(51,257)
Net current-period other comprehensive loss	(51,257)
Balance at September 30, 2014	$ (51,257)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

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