Document And Entity Information	6 Months Ended
Document And Entity Information	Mar. 31, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	Oncobiologics, Inc.
Entity Central Index Key	0001649989
Entity Filer Category	Non-accelerated Filer
Document Type	S-1
Document Period End Date	Mar. 31, 2016
Amendment Flag	false

Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Current assets:
Cash	$ 2,842,194	$ 9,070,975	$ 2,349,313
Accounts receivable	$ 504,857	20,000
Stock subscription receivable		4,280,149
Related party receivable	$ 43,187
Prepaid and other current assets	712,767	1,793,109	797,279
Total current assets	4,103,005	15,164,233	3,146,592
Property and equipment, net	17,358,388	17,759,938	8,009,564
Restricted cash	214,773	213,663	211,452
Deferred offering costs	2,272,408	960,563
Other assets	882,877	910,224	236,099
Total assets	24,831,451	35,008,621	11,603,707
Current liabilities:
Current portion of debt	760,013	742,646	725,706
Current portion of capital lease obligations	907,274	862,849	132,090
Current portion of stockholder notes	9,653,401	14,214,196	10,624,784
Accounts payable	14,416,288	11,563,055	3,101,445
Accrued expenses	6,403,971	5,924,648	2,560,279
Income taxes payable	1,854,629	1,754,629	1,564,411
Deferred revenue	1,979,576	1,979,576	1,501,416
Total current liabilities	35,975,152	37,041,599	20,210,131
Long-term debt	2,547,139	2,922,764	3,653,038
Capital lease obligations	810,122	1,219,373	$ 32,914
Stockholder notes		2,000,000
Deferred revenue	5,376,157	6,365,945	$ 6,313,342
Stock-based compensation liability		12,726,722	1,557,789
Other liabilities	591,128	284,710	283,700
Total liabilities	$ 45,299,698	$ 62,561,113	$ 32,050,914
Commitments (Note 9)
Redeemable preferred stock, common stock and noncontrolling interests:
Redeemable preferred stock
Redeemable common stock -1,739,130 shares issued and outstanding	$ 17,396,626	$ 15,426,673	$ 12,225,096
Redeemable noncontrolling interests		1,703,777	3,101,047
Total redeemable preferred stock, common stock and noncontrolling interests	17,396,626	27,321,311	$ 24,704,011
Stockholders' equity (deficit):
Series A preferred stock, par value $0.01 per share: 10,000,000 shares authorized, 11,819 shares issued and outstanding at March 31, 2016 (liquidation preference of $11,819,000 at March 31, 2016); No shares authorized, issued and outstanding at September 30, 2015	118
Common stock, no par value; 100,000,000 shares authorized; 7,670,783 and 9,436,294 shares issued and outstanding at September 30, 2014 and 2015, respectively; actual		$ 39,844,900
Additional paid-in capital	76,481,615
Accumulated deficit	(114,470,878)	$ (94,064,286)	$ (45,151,218)
Total Oncobiologics, Inc. stockholders' equity (deficit)	(37,864,873)	(54,219,386)	(45,151,218)
Non controlling interests		(654,417)
Total stockholders' equity (deficit)	(37,864,873)	(54,873,803)	(45,151,218)
Total liabilities, redeemable preferred stock, common stock, noncontrolling interests and stockholders' equity (deficit)	$ 24,831,451	35,008,621	11,603,707
Series A redeemable preferred stock
Redeemable preferred stock, common stock and noncontrolling interests:
Redeemable preferred stock		5,072,653	4,787,996
Series B redeemable preferred stock
Redeemable preferred stock, common stock and noncontrolling interests:
Redeemable preferred stock		$ 5,118,208	$ 4,589,872
Common Stock
Stockholders' equity (deficit):
Common stock, no par value; 100,000,000 shares authorized; 7,670,783 and 9,436,294 shares issued and outstanding at September 30, 2014 and 2015, respectively; actual	$ 124,272

Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	0
Preferred Stock, Shares Issued	11,819	0
Preferred Stock, Shares Outstanding	11,819	0
Preferred Stock, Liquidation Preference, Value	$ 11,819,000
Common Stock, No Par Value	$ 0	$ 0	$ 0
Common Stock, Shares Authorized	0	100,000,000	100,000,000
Common Stock, Shares, Issued	0	9,436,294	7,670,783
Common Stock, Shares, Outstanding	0	9,436,294	7,670,783
Redeemable common stock, Shares Issued	1,739,130	1,739,130	1,739,130
Redeemable common stock, Shares Outstanding	1,739,130	1,739,130	1,739,130
Series A redeemable preferred stock
Preferred Stock, Par or Stated Value Per Share	$ 0	$ 0	$ 0
Preferred Stock, Shares Authorized	0	8,000	8,000
Preferred Stock, Shares Issued	0	3,568	3,681
Preferred Stock, Shares Outstanding	0	3,568	3,681
Preferred Stock, Liquidation Preference, Value		$ 5,072,653
Series B redeemable preferred stock
Preferred Stock, Par or Stated Value Per Share	$ 0	$ 0	$ 0
Preferred Stock, Shares Authorized	0	4,000	4,000
Preferred Stock, Shares Issued	0	4,000	4,000
Preferred Stock, Shares Outstanding	0	4,000	4,000
Preferred Stock, Liquidation Preference, Value		$ 5,118,208
Common stock
Common Stock, Shares Authorized	100,000,000	0
Common Stock, Shares, Issued	12,427,164	0
Common Stock, Shares, Outstanding	12,427,164	0

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Consolidated Statements of Operations - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Collaboration revenues	$ 994,894	$ 494,894	$ 1,989,788	$ 3,429,449	$ 5,219,237	$ 9,050,542
Operating expenses:
Research and development	4,138,277	10,154,469	16,872,253	15,994,499	38,876,040	14,124,631
General and administrative	(189,438)	4,342,090	4,484,717	5,579,929	12,905,823	7,318,314
Operating expenses total	3,948,839	14,496,559	21,356,970	21,574,428	51,781,863	21,442,945
Loss from operations	(2,953,945)	(14,001,665)	(19,367,182)	(18,144,979)	(46,562,626)	(12,392,403)
Interest expense	537,935	705,929	936,910	1,063,509	2,297,339	901,052
Loss before income taxes	(3,491,880)	(14,707,594)	(20,304,092)	(19,208,488)	(48,859,965)	(13,293,455)
Income tax expense (benefit)	50,500	(726,218)	102,500	(319,855)	(190,111)	439,018
Net loss	(3,542,380)	(13,981,376)	(20,406,592)	(18,888,633)	(48,669,854)	(13,732,473)
Accretion of redeemable preferred stock and noncontrolling interests	(1,030,414)	(1,034,529)	(1,969,953)	(2,105,693)	(4,306,488)	(3,588,996)
Deemed dividends upon the repurchase of Series A redeemable preferred stock and redeemable noncontrolling interests		(67,633)		(1,298,631)	(1,298,631)	(3,336,855)
Net loss attributable to common stockholders of Oncobiologics, Inc.	$ (4,572,794)	$ (15,083,538)	$ (22,376,545)	$ (22,292,957)	$ (52,998,402)	$ (20,658,324)
Per share information:
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.32)	$ (1.61)	$ (1.64)	$ (2.38)	$ (5.43)	$ (2.43)
Weighted-average shares outstanding, basic and diluted (in shares)	14,155,081	9,377,450	13,605,331	9,377,450	9,753,616	8,509,654
Pro forma net loss per share of common stock - basic and diluted (unaudited) (in dollars per share)					$ (3.35)
Pro forma weighted average shares outstanding (unaudited) (in shares)					14,143,696
Less: Net loss attributable to noncontrolling interests					$ (1,276,571)
Net loss attributable to Oncobiologics, Inc.	$ (3,542,380)	$ (13,981,376)	$ (20,406,592)	$ (18,888,633)	$ (47,393,283)	$ (13,732,473)

Consolidated Statements of Redeemable Preferred Stock, Common Stock, Noncontrolling Interests and Stockholders' Equity (Deficit) - USD ($)	Redeemable Preferred Stock, Common Stock and Noncontrolling Interests Preferred Stock Series A	Redeemable Preferred Stock, Common Stock and Noncontrolling Interests Preferred Stock Series B	Redeemable Preferred Stock, Common Stock and Noncontrolling Interests Common Stock	Redeemable Preferred Stock, Common Stock and Noncontrolling Interests Noncontrolling Interests	Preferred Stock Series A	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Noncontrolling Interests	Total
Balance at Sep. 30, 2013	$ 8,226,922	$ 3,067,039		$ 2,829,733				$ (22,608,182)		$ (22,608,182)
Balance (in shares) at Sep. 30, 2013	6,995	3,600				9,665,786
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee tax withholdings related to the vesting of restricted stock								(23,153)		(23,153)
Employee tax withholdings related to the vesting of restricted stock (in shares)						(2,831)
Repurchase of Series A redeemable preferred stock and deemed dividends	$ (4,155,679)							(3,336,855)		(3,336,855)
Repurchase of Series A redeemable preferred stock and deemed dividends	(3,314)
Sale of redeemable common stock, net of issuance costs			$ 10,895,000
Sale of redeemable common stock, net of issuance costs (In shares)			1,739,130
Sale of Series B redeemable preferred stock and common stock, net of issuance costs		$ 252,000				$ 148,000				148,000
Sale of Series B redeemable preferred stock and common stock, net of issuance costs (in shares)		400				115,942
Issuance of restricted stock (in shares)						90,869
Repurchase of restricted stock in exchange for notes payable						$ (148,000)		(949,750)		(1,097,750)
Repurchase of restricted stock in exchange for notes payable (in shares)						(636,376)
Exchange of restricted stock for performance-based stock units						(602,463)
Reclassification of stock based compensation liability								(364,187)		(364,187)
Repurchase of common stock								(3,312,500)		(3,312,500)
Repurchase of common stock (in shares)						(960,144)
Stock-based compensation expense						$ 2,764,878				2,764,878
Accretion of redeemable common stock	$ 716,753	$ 1,270,833	$ 1,330,096	271,314		$ (2,764,878)		(824,118)		(3,588,996)
Net loss								(13,732,473)		(13,732,473)
Balance at Sep. 30, 2014	$ 4,787,996	$ 4,589,872	$ 12,225,096	3,101,047				(45,151,218)		(45,151,218)
Balance (in shares) at Sep. 30, 2014	3,681	4,000	1,739,130			7,670,783
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distribution of common stock in Sonnet Biotherapeutics, Inc. to stockholders								(221,154)	$ 221,154	(221,154)
Contributions to noncontrolling interests									401,000	401,000
Repurchase of Series A redeemable preferred stock and deemed dividends	$ (142,370)							(83,631)		(83,631)
Repurchase of Series A redeemable preferred stock and deemed dividends	(113)
Sale of redeemable common stock, net of issuance costs						$ 44,142,463				44,142,463
Sale of redeemable common stock, net of issuance costs (In shares)						1,765,511
Repurchase of redeemable noncontrolling interests and deemed dividends				(1,546,818)				(1,215,000)		$ (1,215,000)
Forfeitures of restricted stock
Stock-based compensation expense						$ 8,925				$ 8,925
Accretion of redeemable common stock	$ 427,027	$ 528,336	$ 3,201,577	149,548		(4,306,488)				(4,306,488)
Net loss								(47,393,283)	(1,276,571)	(48,669,854)
Balance at Sep. 30, 2015	$ 5,072,653	$ 5,118,208	$ 15,426,673	1,703,777		$ 39,844,900		(94,064,286)	(654,417)	(54,873,803)
Balance (in shares) at Sep. 30, 2015	3,568	4,000	1,739,130			9,436,294
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Deconsolidation of Sonnet Biotherapeutics, Inc.									$ 654,417	654,417
Employee tax withholdings related to the vesting of restricted stock						$ (71,760)				(71,760)
Employee tax withholdings related to the vesting of restricted stock (in shares)						(2,782)
Reincorporation to a Delaware Corporation	$ (5,072,653)	$ (5,118,208)			$ 102	$ (39,656,869)	$ 49,847,628			10,190,861
Reincorporation to a Delaware Corporation (in shares)	(3,568)	(4,000)			10,193	2,193,601
Issuance of common stock upon the dissolution of Parilis				$ (1,703,777)	$ 16	$ 2,267	1,701,494			1,703,777
Issuance of common stock upon the dissolution of Parilis (in shares)					1,626	226,663
Sale of redeemable common stock, net of issuance costs						$ 5,734	16,132,179			16,137,913
Sale of redeemable common stock, net of issuance costs (In shares)						573,788
Reclassification of stock based compensation liability							15,118,584			15,118,584
Stock-based compensation expense							(4,348,317)			(4,348,317)
Accretion of redeemable common stock			$ 1,969,953				(1,969,953)			(1,969,953)
Net loss								(20,406,592)		(20,406,592)
Balance at Mar. 31, 2016			$ 17,396,626		$ 118	$ 124,272	$ 76,481,615	$ (114,470,878)		$ (37,864,873)
Balance (in shares) at Mar. 31, 2016			1,739,130		11,819	12,427,164

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended		12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES
Net loss	$ (20,406,592)	$ (18,888,633)	$ (48,669,854)	$ (13,732,473)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,192,074	441,071	1,824,600	878,477
Non-cash interest expense	6,090	6,105	12,264	12,264
Stock-based compensation	(1,956,455)	7,175,780	11,177,858	3,958,480
Loss on disposal of fixed assets	13,647
Changes in operating assets and liabilities:
Accounts receivable	(484,857)	(1,072,910)	(20,000)
Prepaid expenses and other current assets	1,080,342	263,667	(1,021,852)	(719,302)
Other assets	27,347	(100,000)	(322,729)	(84,330)
Accounts payable	1,878,794	3,344,446	6,580,722	(96,403)
Accrued expenses	156,677	732,247	2,240,800	598,266
Income taxes payable	100,000	151,113	190,218	1,084,921
Deferred revenue	(989,788)	1,520,551	530,763	949,458
Other liabilities	312,227		1,010	130,173
Net cash used in operating activities	(19,070,494)	(6,426,563)	(27,476,200)	(7,020,469)
INVESTING ACTIVITIES
Purchase of property and equipment	(317,293)	(2,020,557)	(8,804,244)	(2,366,772)
Net cash used in investing activities	(317,293)	(2,020,557)	(8,804,244)	(2,366,772)
FINANCING ACTIVITIES
Proceeds from the sale of Series B redeemable preferred stock				252,000
Repurchase of Series A redeemable preferred stock		(226,001)	(226,001)	(4,128,000)
Proceeds from the sale of redeemable common stock				10,895,000
Proceeds from the sale of common stock	16,137,913		41,249,998	148,000
Proceeds from the sale of equity in noncontrolling interest			401,000
Proceeds from subscriptions receivable	4,280,149
Payments of capital leases obligations	(443,326)	(254,869)	(686,676)	(193,973)
Proceeds from debt				2,460,434
Repayment of debt	(364,348)	(375,754)	(725,598)	(753,531)
Payment of deferred offering costs	(200,000)
Proceeds from stockholder notes		8,380,252	10,880,252	6,000,000
Repayment of stockholder notes	(6,560,795)	(1,000,000)	(7,888,658)	(3,125,000)
Change in restricted cash	(1,110)		(2,211)	(3,383)
Proceeds from related party receivable	783,374
Deconsolidation of Sonnet Biotherapeutics, Inc.	(401,091)
Payment of employee tax withholdings related to the vesting of restricted stock	(71,760)			(23,153)
Payment of financing costs				(54,248)
Net cash provided by financing activities	13,159,006	6,523,628	43,002,106	11,474,146
Net increase in cash	(6,228,781)	(1,923,492)	6,721,662	2,086,905
Cash at beginning of year	9,070,975	2,349,313	2,349,313	262,408
Cash at end of year	2,842,194	425,821	9,070,975	2,349,313
Supplemental disclosure of cash flow information
Cash paid for interest	794,663	855,446	1,402,209	817,965
Cash paid for taxes	2,500	2,250	2,250	1,750
Supplemental schedule of noncash investing activities:
Purchases of property and equipment in accounts payable and accrued expenses	635,341	2,769,817	(2,770,730)	(215,907)
Supplemental schedule of noncash financing activities:
Accretion of redeemable preferred stock	1,969,953	2,105,693	4,306,488	3,588,996
Deemed dividend upon repurchase of Series A redeemable preferred stock in excess of carrying value		$ 1,215,000	(1,298,631)	(3,336,855)
Issuance of common and series A preferred stock to redeemable preferred stockholders and noncontrolling interests upon reincorporation	(11,894,638)
Reclassification of equity classified stock-based compensation	(15,118,584)			(364,187)
Issuance of notes upon repurchase of restricted stock and common stock				4,410,250
Issuance of subscription receivable upon sale of common stock			(4,280,149)
Distribution of common stock in Sonnet Biotherapeutics Inc. to stockholders			(221,154)
Issuance of capital lease obligations in connection with purchase of property and equipment	78,500		2,603,894	$ 215,908
Deferred offering costs and common stock issuance costs in accounts payable and accrued expenses	$ (1,111,845)		$ 2,310,961

Organization and Description of Business	6 Months Ended	12 Months Ended
Organization and Description of Business	Mar. 31, 2016	Sep. 30, 2015
Organization And Description Of Business [Abstract]
Organization and Description of Business	1. Organization and Description of Business Oncobiologics, Inc. (“Oncobiologics” or the “Company”) was incorporated in New Jersey on January 5, 2010 and started operations in July 2011. Oncobiologics is a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex biosimilar therapeutics in the disease areas of immunology and oncology. The Company has established fully integrated in-house development and manufacturing capabilities that addresses the numerous complex technical and regulatory challenges in developing and commercializing mAb biosimilars. Since inception, the Company has advanced two product candidates into clinical trials: a Phase 3-ready biosimilar to adalimumab (Humira®) and a Phase 3-ready biosimilar to bevacizumab (Avastin®). Additionally, the Company has six preclinical biosimilar product candidates under active development, two of which are expected to enter clinical trials in 2016. In October 2015, the Company reincorporated in Delaware through the merger with and into Oncobiologics, Inc., a newly formed Delaware corporation, with the Delaware corporation surviving the merger. As a result of the merger, each share of the Company’s previously issued and outstanding common stock converted into and became a share of common stock of the Delaware corporation on a 1-for-1 basis, each share of the Company’s previously issued and outstanding Series A redeemable preferred stock converted into 289 shares of common stock and approximately 1.4035 shares of Series A preferred stock of the Delaware corporation, and each share of the Company’s previously issued and outstanding Series B redeemable preferred stock converted into 289 shares of common stock and approximately 1.2867 shares of Series A preferred stock of the Delaware corporation. The holders of Series A and B preferred stock also received an aggregate of 10,193 shares of Series A preferred stock of the Delaware corporation. Additionally, effective upon the reincorporation and in connection with the dissolution of the Company’s business development subsidiary, Parilis Biopharmaceuticals (“Parilis”), the Company issued 226,663 shares of common stock and 1,626 shares of Series A preferred stock to the holders of outstanding Parilis preferred member units in exchange for all such units. In May 2016, the Company completed the initial public offering (“IPO”) of its securities by offering units. Each unit consisted of one share of the Company’s common stock, one-half of a Series A warrant and one-half of a Series B warrant. Each whole Series A warrant entitles the holder to purchase one share of common stock at an initial exercise price of $6.60, subject to adjustment. Each whole Series B warrant entitles the holder to purchase one share of common stock at an initial exercise price of $8.50, subject to adjustment. The IPO price was $6.00 per unit. In addition, the Company also completed a concurrent private placement of an additional 833,332 shares of its common stock, 416,666 Series A warrants and 416,666 Series B warrants, for gross proceeds of approximately $5.0 million. On May 13, 2016, the units began trading on the NASDAQ Global Market. The units separated in accordance with their terms and ceased trading, and on June 13, 2016, the component securities (common stock, Series A warrants and Series B warrants) began trading on the NASDAQ Global Market. As a result of the IPO and the concurrent private placement, the Company received approximately $34.4 million in net proceeds, after deducting discounts and commissions of approximately $2.8 million and estimated offering expenses of approximately $2.8 million payable by the Company. The interim consolidated financial statements, do not give effect to the IPO and concurrent private placement.	1. Organization and Description of Business Oncobiologics, Inc. (“Oncobiologics” or the “Company”) was incorporated in New Jersey on January 5, 2010 and started operations in July 2011. Oncobiologics is a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex biosimilar therapeutics in the disease areas of immunology and oncology. The Company has established fully integrated in-house development and manufacturing capabilities that addresses the numerous complex technical and regulatory challenges in developing and commercializing mAb biosimilars. Since inception, the Company has advanced two product candidates into clinical trials: a Phase 3-ready biosimilar to adalimumab (Humira®) and a Phase 3-ready biosimilar to bevacizumab (Avastin®). Additionally, the Company has six preclinical biosimilar product candidates under active development, two of which are expected to enter clinical trials in 2016. During 2011, the Company formed Parilis Biopharmaceuticals, LLC (“Parilis”), a New Jersey Limited Liability Company to which the Company owns 100% of Parilis’s common member units. The Company entered into a licensing arrangement whereby Parilis was issued an exclusive right to commercialize the Company’s Humira biosimilar product. In April 2015, the Company spun-off certain assets unrelated to its biosimilar business through a pro rata distribution to its stockholders through a newly-formed subsidiary, Sonnet Biotherapeutics, Inc. (“Sonnet”). Concurrent with the Company’s contribution of the assets relating to the innovation business of Sonnet, the Company distributed all of its shares of Sonnet to Oncobiologic’s stockholders. In October 2015, the Company reincorporated in Delaware through the merger with and into Oncobiologics, Inc., a newly formed Delaware corporation, with the Delaware corporation surviving the merger. As a result of the merger, each share of the Company’s issued and outstanding common stock converted into and became a share of common stock of the Delaware corporation on a 1-for-1 basis, each share of Series A redeemable preferred stock converted into 289 shares of common stock and approximately 1.4035 shares of Series A preferred stock of the Delaware corporation, and each share of the Company’s Series B redeemable preferred stock converted into 289 shares of common stock and approximately 1.2867 shares of Series A preferred stock of the Delaware corporation. Additionally, effective upon the reincorporation and in connection with the dissolution of Parilis, the Company issued 226,663 shares of common stock and 1,626 shares of Series A preferred stock to the holders of outstanding Parilis preferred member units in exchange for all such units.

Liquidity

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Liquidity [Abstract]

Liquidity

2. Liquidity

The Company has incurred substantial losses and negative cash flows from operations since its inception and has an accumulated deficit of $114.5 million and $94.1 million as of March 31, 2016 and September 30, 2015, respectively. In addition, the Company has $8.9 million and $14.2 million of indebtedness that is due on demand as of March 31, 2016 and September 30, 2015, respectively. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying unaudited interim consolidated financial statements have been prepared on a going concern basis, which contemplate the realization of assets and satisfaction of liabilities in the normal course of business. The unaudited interim consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

The Company has substantial indebtedness that includes $8.9 million in notes payable to stockholders that are payable on demand. There can be no assurance that note holders will not exercise their right to demand repayment.

The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales of its products currently in development. Although the Company closed the IPO of its securities and the concurrent private placement on May 18, 2016 raising aggregate net proceeds of approximately $34.4 million, excluding any proceeds it may receive from the exercise of the Series A warrants and Series B warrants, which proceeds are expected to fund the Company’s operations through June 2017, substantial additional financing will be needed by the Company to fund its operations and to commercially develop its product candidates. Management is currently evaluating different strategies to obtain the required funding for future operations. These strategies may include, but are not limited to: private placements of equity and/or debt, payments from potential strategic research and development, licensing and/or marketing arrangements with pharmaceutical companies, and public offerings of equity and/or debt securities. There can be no assurance that these future funding efforts will be successful.

2. Liquidity

The Company has incurred substantial losses and negative cash flows from operations since its inception and has an accumulated deficit of $94.1 million and $14.2 million of indebtedness that is due on demand, each as of September 30, 2015. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

The Company has substantial indebtedness that includes $14.2 million in notes payable to stockholders that are payable on demand. There can be no assurance that note holders will not exercise their right to demand repayment.

The Company anticipates incurring additional losses until such time, if ever, that it can generate significant sales of its products currently in development. Substantial additional financing will be needed by the Company to fund its operations and to commercially develop its product candidates. Management is currently evaluating different strategies to obtain the required funding for future operations. These strategies may include, but are not limited to: private placements of equity and/or debt, payments from potential strategic research and development, licensing and/or marketing arrangements with pharmaceutical companies, and public offerings of equity and/or debt securities. There can be no assurance that these future funding efforts will be successful.

The Company’s future operations are highly dependent on a combination of factors, including (i) the timely and successful completion of additional financing discussed above; (ii) the Company’s ability to complete revenue-generating partnerships with pharmaceutical companies; (iii) the success of its research and development; (iv) the development of competitive therapies by other biotechnology and pharmaceutical companies, and, ultimately; (v) regulatory approval and market acceptance of the Company’s proposed future products.

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

3. Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited interim consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”).

In the opinion of management, the accompanying unaudited interim consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the financial statements) considered necessary to present fairly the Company’s financial position as of March 31, 2016 and its results of operations for the three and six months ended March 31, 2016 and 2015 and cash flows for the six months ended March 31, 2016 and 2015. Operating results for the six months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the full year ending September 30, 2016. The unaudited interim condensed financial statements, presented herein, do not contain the required disclosures under GAAP for annual consolidated financial statements. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the annual audited financial statements and related notes as of and for the year ended September 30, 2015.

Recapitalization

On April 26, 2016, the Company filed a certificate of amendment to amend its certificate of incorporation effecting a 1-for-3.45 reverse split of the Company’s common stock. All references in the unaudited interim consolidated financial statements to the number of shares and per-share amounts of common stock have been retroactively restated to reflect the reverse split.

Use of estimates

The preparation of the unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the unaudited interim consolidated financial statements, actual results may materially vary from these estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the unaudited interim consolidated financial statements in the period they are determined to be necessary.

Income taxes

The Company recorded income tax expense (benefit) of $50,500 and $(726,818) for the three months ended March 31, 2015 and 2016, respectively, and $102,500 and $(319,855) for the six months ended March 31, 2016 and 2015, respectively, which is primarily attributable to the foreign withholding taxes in connection with the Company’s collaboration and licensing agreements and the sale of New Jersey net operating losses.

Net loss per share

Basic and diluted net loss per common share is determined by dividing net loss applicable to common stockholders by the weighted-average common shares outstanding during the period. For all periods presented, the outstanding shares of preferred stock have been excluded from the calculation because their effects would be anti-dilutive. Therefore the weighted-average shares used to calculate both basic and diluted loss per share are the same.

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares outstanding as of March 31, 2016 and 2015, as they would be antidilutive:

	March 31,
	2016		2015
Series A redeemable preferred stock		—		1,059,710
Series B redeemable preferred stock		—		1,159,418
Series A preferred stock		984,899		—
Performance-based stock units		247,887		—
Restricted stock units		1,066,039		—
Unvested shares of restricted common stock		—		32,463
Convertible stockholder note		96,618		96,618

Amounts in the table above reflect the common stock equivalents of the noted instruments.

Recently Issued and Adopted Accounting Pronouncements

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The amendments in this update will explicitly require a company’s management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Early application is permitted. The Company is currently evaluating the potential impact of the adoption of this standard, but the Company believes its adoption will have no impact on its consolidated results of operations, financial position or cash flows.

In May 2014, the FASB issued ASU, No. 2014-09, Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires an entity to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about:

Contracts with customers — including revenue and impairments recognized, disaggregation of revenue and information about contract balances and performance obligations (including the transaction price allocated to the remaining performance obligations).

Significant judgments and changes in judgments — determining the timing of satisfaction of performance obligations (over time or at a point in time), and determining the transaction price and amounts allocated to performance obligations.

Certain assets — assets recognized from the costs to obtain or fulfill a contract.

In July 2015, the FASB delayed the effective date of this guidance. As a result, this guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the impact that this guidance will have on its consolidated results of operations, financial position and cash flows.

In March 2016, the FASB issued ASU 2016-02, Leases, (Topic 842). This new ASU represents a wholesale change to lease accounting and introduces a lease model that brings most leases on the balance sheet. It also eliminates the required use of bright-line tests in current U.S. GAAP for determining lease classification. This ASU is effective for annual periods beginning after December 15, 2019 (i.e., calendar periods beginning on January 1, 2020), and interim periods thereafter. Earlier application is permitted for all entities. The Company is currently evaluating the impact of ASU 2016-02 on its consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, which is intended to simplify the accounting and reporting for employee share-based payment transactions. The pronouncement is effective for interim and annual periods beginning after December 31, 2016 with early adoption permitted. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements.

3. Basis of Presentation and Summary of Significant Accounting Policies

Basis of presentation

The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”).

The consolidated financial statements include the accounts of the Company’s subsidiaries and affiliates in which the Company holds a controlling financial interest as of the financial statement date. As the Company has been the primary funding source for Sonnet since its distribution to the Company’s stockholders, the operations and financial position of Sonnet are included in the consolidated financial statements of the Company. Participation of the stockholders in the net assets and losses of Sonnet are reflected in the line items “Noncontrolling interests” in the Company’s consolidated balance sheets and “Net loss attributable to the noncontrolling interests” in the Company’s consolidated statements of operations. Noncontrolling interests adjusts the Company’s consolidated results of operations to exclude all of the losses of Sonnet as Oncobiologics has no direct equity ownership in Sonnet. Changes in underlying net book value of Sonnet due to equity issuances are reflected as equity transaction in the Company’s consolidated statements of stockholders’ equity (deficit).

Parilis previously issued Series A and Series A Hybrid Redeemable Preferred Units (“Preferred Units”) to investors other than Oncobiologics. Prior to October 2015, the Preferred Units were redeemable both at the option of the Parilis Preferred holders and upon the occurrence of an event that was not solely within the Company’s control. Because redemption of Preferred Units was outside of the Company’s control, the noncontrolling interests is presented on the consolidated balance sheets under the caption redeemable noncontrolling interests and carried at its current redemption value. As of and for the years ended September 30, 2014 and 2015, the redeemable noncontrolling interests is presented at its carrying amount and adjusted for dividends to and contributions from the noncontrolling interests with an offsetting charge to common stock or, in the absence of common stock, a charge to accumulated deficit.

Use of estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the consolidated financial statements, actual results may materially vary from these estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.

Recapitalization

On April 26, 2016, the Company filed a certificate of amendment to amend its certificate of incorporation effecting a 1-for-3.45 reverse split of the Company’s common stock. All references in the consolidated financial statements to the number of shares and per-share amounts of common stock have been retroactively restated to reflect the reverse split.

Restricted cash

As of September 30, 2014 and 2015, the Company had $211,452 and $213,663, respectively, in certificates of deposit with a maturity date of August 2017 and are related to the requirements of the Company’s bank loan.

Fair Value of financial instrument

At September 30, 2014 and 2015, the Company’s financial instruments included accounts payable, accrued expenses, stockholder notes, debt and stock-based compensation liability. The carrying amount of accounts payable and accrued expenses approximates fair value due to the short-term maturities of these instruments. The stockholder notes and debt approximates fair value as the interest rates are reflective of the rate the Company could obtain on debt with similar terms and conditions. The carrying value of the stock-based compensation liability is the estimated fair value of the liability (note 11).

Property and equipment

Property and equipment are recorded at cost. Depreciation and amortization is determined using the straight-line method over the estimated useful lives ranging from 3 to 10 years. Leasehold improvements are amortized over the life of the lease or the estimated useful life of the assets, whichever is shorter. Expenditures for maintenance and repairs are expensed as incurred while renewals and betterments are capitalized. When property and equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is reflected in operations.

Long-lived assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated. Impairment charges are recognized at the amount by which the carrying amount of an asset exceeds the fair value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. The Company has not recognized any impairment or disposition of long-lived assets.

Deferred offering costs

The Company capitalizes costs that are directly associated with in-process equity financings until such financings are consummated at which time such costs are recorded against the gross proceeds of the offering.

Stock-based compensation

The Company measures equity classified stock-based awards granted to employees and directors based on the estimated fair value on the date of grant and recognizes compensation expense of those awards, net of estimated forfeitures, on a straight-line basis over the requisite service period, which is generally the vesting period of the respective award.

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model, which is described more fully in note 11. The fair value of each restricted stock award is measured as the fair value per share of the Company’s common stock on the date of grant.

Stock-based awards granted to consultants and non-employees are measured based on the fair value of the award on the date on which the related services are completed. Compensation expense is recognized over the period during which services are rendered by such consultants and non-employees until completed. At the end of each financial reporting period prior to completion of the service, the fair value of these awards is remeasured using the then-current fair value of the Company’s common stock and updated assumption inputs in the Black-Scholes option-pricing model.

Stock-based awards that are settled in cash are accounted for as liabilities and are remeasured at each reporting period until the obligations are satisfied. Stock-based compensation liabilities are valued through the use of a Monte Carlo simulation model.

Revenue recognition

The Company’s revenue is generated primarily through collaboration research and license agreements. The terms of these agreements generally contain multiple deliverables which may include (i) licenses, (ii) research and development activities, (iii) clinical manufacturing, and (iv) product supply. The payment terms of these agreements may include nonrefundable upfront fees, payments for research and development activities, payments based upon the achievement of certain milestones, royalty payments based on product sales derived from the collaboration, and payments for supplying product.

The Company considers whether the deliverables under the arrangement represent separate units of accounting. In determining the units of accounting, management evaluates certain criteria, including whether the deliverables have stand-alone value. The consideration received is allocated to the separate units of accounting using the relative selling price method, and the applicable revenue recognition criteria are applied to each of the separate units.

The Company typically receives upfront, nonrefundable payments when licensing its intellectual property. For intellectual property licenses that do not have stand-alone value from the other deliverables to be provided, the upfront fee is deferred and revenue is recognized over the contractual or estimated performance period, which is typically the term of the research and development obligations. The periods over which revenue is recognized are subject to estimates by management and may change over the course of the research and development agreement. Such a change could have a material impact on the amount of revenue the Company records in future periods. Payments or reimbursements resulting from the Company’s research and development efforts are recognized as the services are performed. Amounts received prior to satisfying the above revenue recognition criteria are recorded as deferred revenue.

The Company recognizes revenue from milestone payments when: (i) the milestone event is substantive and its achievability was not reasonably assured at the inception of the agreement, and (ii) the Company does not have ongoing performance obligations related to the achievement of the milestone earned. Milestone payments are considered substantive if all of the following conditions are met: the milestone payment (a) is commensurate with either the Company’s performance to achieve the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from the Company’s performance to achieve the milestone, (b) relates solely to past performance, and (c) is reasonable relative to all of the deliverables and payment terms (including other potential milestone consideration) within the arrangement.

Research and development

Research and development costs are expensed as incurred and consist primarily of funds paid to third parties for the provision of services for product candidate development, clinical and preclinical development and related supply and manufacturing costs, and regulatory compliance costs. At the end of the reporting period, the Company compares payments made to third-party service providers to the estimated progress toward completion of the research or development objectives. Such estimates are subject to change as additional information becomes available. Depending on the timing of payments to the service providers and the progress that the Company estimates has been made as a result of the service provided, the Company may record net prepaid or accrued expense relating to these costs.

Upfront milestone payments made to third parties who perform research and development services on the Company’s behalf are expensed as services are rendered. Costs incurred in obtaining technology licenses are charged to research and development expense as acquired in-process research and development if the technology licensed has not reached technological feasibility and has no alternative future use.

Income taxes

The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded to the extent it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Accretion of redeemable preferred stock, redeemable common stock and redeemable noncontrolling interests

Accretion of redeemable preferred stock includes the accretion of dividends and issuance costs of the Company’s Series A and Series B redeemable preferred stock and the redeemable common stock. The carrying values of the Series A and Series B redeemable preferred stock, redeemable common stock and redeemable noncontrolling interests are being accreted to their respective redemption values, using the effective interest method, from the date of issuance to the earliest date the holders can demand redemption. Increases to the carrying value of redeemable preferred stock, common stock, and noncontrolling interests are charged to common stock or, in the absence of common stock, charged to accumulated deficit. Upon repurchase of redeemable preferred stock and redeemable noncontrolling interests, the excess consideration paid over the carrying value at the time of repurchase is accounted for as a deemed dividends to the preferred stockholders.

Net loss per share

Basic and diluted net loss per common share is determined by dividing net loss applicable to common stockholders by the weighted-average common shares during the period. For all periods presented, the outstanding shares of Series A and Series B redeemable preferred stock have been excluded from the calculation because their effects would be anti-dilutive. Therefore the weighted-average shares used to calculate both basic and diluted loss per share are the same.

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares outstanding as of September 30, 2014 and 2015, as they would be antidilutive:

	September 30,
	2014		2015
Series A redeemable preferred stock		1,066,956		1,034,181
Series B redeemable preferred stock		1,159,418		1,159,418
Unvested shares of restricted common stock		32,463		—
Convertible stockholder note		—		96,618

Amounts in the table above reflect the common stock equivalents of the noted instruments.

The unaudited pro forma net loss per common share is computed using the weighted-average number of common shares outstanding and assumes the issuance of 1,034,181, 1,159,418 and 226,663 shares of common stock issued to Series A and Series B redeemable preferred stockholders and Parilis Preferred Unit holders, respectively, in connection with the reincorporation of the Company in October 2015. The pro forma weighted-average shares outstanding also assumes the reincorporation and the issuance of 1,969,818 shares of common stock upon settlement of the Series A liquidation value of $11,819,000, assuming the initial public offering price of $6.00 per share of common stock included in the units sold in this offering. The pro forma weighted-average shares outstanding of 14,143,696 was used to compute the pro forma net loss per common share.

The following table summarizes the calculation of unaudited pro forma basic and diluted net loss per common share:

Numerator:
Net loss applicable to common stockholders of Oncobiologics, Inc.	$	(52,998,402)
Effect of pro forma adjustments:
Accretion of redeemable preferred stock and noncontrolling interests		4,306,488
Deemed dividends		1,298,631
Pro forma net loss attributable to common stockholders of Oncobiologics, Inc.	$	(47,393,283)
Denominator:
Weighted-average common shares outstanding		9,753,616
Effect of pro forma adjustments:
Exchange of Series A and Series B redeemable preferred stock		2,193,599
Exchange of Parilis Preferred Units		226,663
Conversion of Series A Preferred Stock liquidation value		1,969,818
Shares used in computing unaudited pro forma weighted-average basic and diluted common shares outstanding		14,143,696
Unaudited pro forma basic and diluted net loss per common share	$	(3.35)

Recent accounting pronouncements

In April 2015, the Financial Accounting Standards Board (‘‘FASB’’) issued Accounting Standards Updates (‘‘ASU’’) 2015-03, Interest — Imputation of Interest (Subtopic 835-30). The update requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. The guidance is effective for fiscal years beginning after December 15, 2015. The Company early adopted this guidance for all periods presented.

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The amendments in this update will explicitly require a company’s management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Early application is permitted. The Company is currently evaluating the potential impact of the adoption of this standard, but believes its adoption will have no impact on its consolidated results of operations, financial position and cash flows.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires an entity to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about:

■ Contracts with customers — including revenue and impairments recognized, disaggregation of revenue and information about contract balances and performance obligations (including the transaction price allocated to the remaining performance obligations).

■ Significant judgments and changes in judgments — determining the timing of satisfaction of performance obligations (over time or at a point in time), and determining the transaction price and amounts allocated to performance obligations.

■ Certain assets — assets recognized from the costs to obtain or fulfill a contract.

Fair Value Measurements

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

4. Fair Value Measurements

Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

■ Level 1 — Quoted prices in active markets for identical assets or liabilities.

■ Level 2 — Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

■ Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis:

	September 30, 2015
	(Level 1)			(Level 2)			(Level 3)
Liabilities
Stock-based compensation liability		$	—		$	—		$	12,726,722

The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuation for the stock-based compensation liability for the six months ended March 31, 2016:

Balance at October 1, 2015	$	12,726,722
Change in fair value		2,391,862
Reclassification to stockholders’ equity		(15,118,584)
Balance at March 31, 2016	$	—

As of March 31, 2016, the Company has no assets or liabilities that were measured at fair value.

The Company has issued stock-based performance units (“PSUs”), which generally have a ten year life from the date of grant and vest 50% after the third anniversary from issuance and the remaining 50% on the fourth anniversary. In addition, the PSUs are exercisable upon the earlier of (i) a change in control, (ii) consummation of an IPO, or (iii) a corporate valuation in excess of $400 million and at the discretion by the Company’s Board of Directors. Upon exercise, the PSU holder received a cash payment for the difference between the current per share value of the Company and the base price of the PSU. Given the cash settlement, the PSUs were liability classified and re-measured at each reporting date with changes in fair value recorded within the Company’s consolidated statements of operations. In December 2015, the PSUs were modified to provide for settlement in common stock or cash, at the Company’s discretion. As a result of this modification, the carrying value of the PSUs was reclassified to stockholders’ equity (deficit).

The PSUs contain a market condition as the exercisability of the awards are based on the Company achieving a market value of $400 million during the relevant performance period. The fair value of the market condition is valued using a Monte Carlo simulation model. The significant assumptions used in preparing the Monte Carlo simulation model include (i) volatility of the Company’s common stock, (ii) risk free interest rate, (iii) base price of the PSUs, (iv) fair value of the Company’s common stock and enterprise value of the Company, and (v) derived service period.

The fair value of the PSUs of $22.22 at September 30, 2015 was derived using the following assumptions:

			September 30, 2015
Risk-free interest rate			1.4%
Derived service period			5 years
Expected volatility			60%
Annual dividend yield			0%
Fair value of common stock			$25.79 per share

4. Fair Value Measurements

■ Level 1 — Quoted prices in active markets for identical assets or liabilities.

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis:

	September 30, 2014
	(Level 1)			(Level 2)			(Level 3)
Liabilities
Stock-based compensation liability		$	—		$	—		$	1,557,789

	September 30, 2015
	(Level 1)			(Level 2)			(Level 3)
Liabilities
Stock-based compensation liability		$	—		$	—		$	12,726,722

The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuation for the stock-based compensation liability for the years ended September 30, 2014 and 2015:

Balance at October 1, 2013	$	—
Issued		364,187
Change in fair value		1,193,602
Balance at September 30, 2014		1,557,789
Change in fair value		11,168,933
Balance at September 30, 2015	$	12,726,722

The Company has issued stock-based performance units (“PSUs”), which generally have a ten year life from the date of grant and vest 50% after the third anniversary from issuance and the remaining 50% on the fourth anniversary. In addition, the PSUs are exercisable upon the earlier of (i) a change in control, (ii) consummation of an initial public offering, or (iii) a corporate valuation in excess of $400 million and at the discretion by the Company’s Board of Directors. Upon exercise, the PSU holder receives a cash payment for the difference between the current per share value of the Company and the base price of the PSU. Given the cash settlement, the PSUs are liability classified and re-measured at each reporting date with changes in fair value recorded within the Company’s consolidated statements of operations.

The fair value of the PSUs of $3.45 and $22.22 per PSU at September 30, 2014 and 2015, respectively, was derived using the following assumptions:

	September 30,
	2014	2015
Risk-free interest rate	1.8%	1.4%
Derived service period	5 years	5 years
Expected volatility	60%	60%
Annual dividend yield	0%	0%
Fair value of common stock	$7.62 per share	$25.79 per share

- 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

Property and Equipment

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

5. Property and Equipment

Property and equipment, net, consists of:

	March 31, 2016			September 30, 2015
Laboratory equipment	$	10,840,204		$	10,936,364
Leasehold improvements		9,927,614			9,889,521
Computer software and hardware		409,684			402,075
Construction in process		940,621			175,425
		22,118,123			21,403,385
Less: accumulated depreciation and amortization		(4,759,735	)		(3,643,447	)
	$	17,358,388		$	17,759,938

Depreciation and amortization expense was $598,097 and $218,996 for the three months ended March 31, 2016 and 2015, respectively, and $1,192,074 and $441,071 for the six months ended March 31, 2016 and 2015, respectively.

At March 31, 2016 and September 30, 2015, $3,608,801 and $3,530,301 represents laboratory equipment under capital leases. The term of the leases are between 11 and 36 months and qualify as capital leases. The leases bear interest between 8.2% and 21.4%. At March 31, 2016 and September 30, 2015, $673,188 and $407,210, respectively, of accumulated depreciation related to this leased equipment has been recognized.

5. Property and Equipment

Property and equipment, net, consists of:

	September 30,
	2014			2015
Laboratory equipment		$	6,847,970		$	10,936,364
Leasehold improvements			2,756,291			9,889,521
Computer software and hardware			224,150			402,075
Construction in process			—			175,425
			9,828,411			21,403,385
Less: accumulated depreciation and amortization			(1,818,847)			(3,643,447)
		$	8,009,564		$	17,759,938

Depreciation and amortization expense for the years ended September 30, 2014 and 2015 was $878,477 and $1,824,600, respectively.

At September 30, 2014 and 2015, $926,231 and $3,530,301, respectively, represents laboratory equipment under capital leases. The term of the leases are between 11 and 36 months and qualify as capital leases. The leases bear interest between 8.6% and 21.4%. At September 30, 2014 and 2015, $206,663 and $407,210 respectively, of accumulated depreciation related to this leased equipment has been recognized.

The following is a schedule of future minimum lease payments under capital leases as of September 30, 2015:

2016	$	1,087,192
2017		1,053,748
2018		295,010
		2,435,950
Less: amounts representing interest		(353,728)
Less: current portion		(862,849)
Capital lease obligations, excluding current portion	$	1,219,373

Accrued Expenses

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Accrued Expenses [Abstract]

Accrued Expenses

6. Accrued Expenses

Accrued expenses consists of:

	March 31, 2016		September 30, 2015
Compensation	$	3,137,855	$	2,321,508
Research and development		1,679,473		951,759
Interest payable		682,538		806,475
Deferred offering costs		450,648		657,892
Professional fees		280,333		594,572
Director fees		-		414,421
Other accrued expenses		173,124		178,021
	$	6,403,971	$	5,924,648

6. Accrued Expenses

Accrued expenses consists of:

	September 30,
	2014			2015
Compensation		$	1,907,684		$	2,321,508
Research and development			170,513			951,759
Interest payable			106,940			806,475
Deferred offering costs			—			657,892
Professional fees			131,668			594,572
Director fees			239,420			414,421
Other accrued expenses			4,054			178,021
		$	2,560,279		$	5,924,648

Stockholder Notes

12 Months Ended

Sep. 30, 2015

Short-term Debt [Abstract]

Stockholder Notes

7. Stockholder Notes

	September 30,
	2014			2015
Series A repurchase notes		$	3,014,534		$	800,534
Parilis Series A repurchase notes			—			2,275,818
Restricted stock repurchase notes			1,097,750			1,097,750
Common stock repurchase note			2,812,500			2,812,500
Convertible note			—			2,000,000
Working capital notes			3,700,000			7,227,594
			10,624,784			16,214,196
Less current portion			(10,624,784)			(14,214,196)
Stockholder notes, excluding current portion		$	—		$	2,000,000

In June 2014, the Company, upon the repurchase of its Series A redeemable preferred stock, issued $3,364,534 in notes to the investors as settlement of cumulative unpaid dividends. The notes bear interest at 4.0% and were originally due in June 2015. Pursuant to the terms of the notes, the interest rate increased to 6% as a result of nonpayment and are due on demand. During the years ended September 30, 2014, and 2015, $350,000 and $64,000 of the notes were offset against advances previously made to the Company’s CEO. Additionally, $100,000 of the notes were offset against advances previously made to an investor. The Company made principal payments of $2,050,000 during the year ended September 30, 2015.

In October 2014, the Company, upon the repurchase of 1,215 Parilis Preferred Units, issued $2,761,818 in notes to the investors at a price of $2,000 per unit and $331,818 in cumulative unpaid dividends. During the year ended September 30, 2015, the Company made $486,000 in principal payments. The notes bear interest at 4.0% and, as of September 30, 2015, are due upon demand.

In June 2014, the Company repurchased shares of its restricted stock in exchange for $1,097,750 in notes payable. The notes bear interest at rates ranging from 0%-4% and are due on demand as of September 30, 2015.

In June 2014, the Company repurchased 960,144 shares of its common stock in exchange for a $3,312,500 note payable. The note does not bear interest and is due on demand. During the year ended September 30, 2014, the Company made $500,000 in principal payments.

In October and December 2014, the Company issued convertible promissory notes to a redeemable common stock investor, each in the amount of $2,000,000 and bearing interest at 12%. The December note was paid in full during the year ended September 30, 2015. The October note matures in December 2016 and is convertible at any time into shares of the Company’s common stock at a conversion price of $20.70 per share. Upon issuance, the Company determined there was no beneficial conversion feature as the conversion price exceeded the estimated fair value of the underlying common stock to be issued upon conversion.

During the years ended September 30, 2014 and 2015, the Company borrowed $6,000,000 and $6,880,252, respectively, from stockholders for working capital purposes. During the years ended September 30, 2014 and 2015, the Company made principal payments of $2,625,000 and $3,352,658, respectively. The notes bear interest from 0% to 24% per annum with a weighted-average interest rate of 14.5%. Certain notes are secured by future revenue streams from existing licensing agreements. In addition, one of the notes is collateralized by 0.3 million common shares of the Company’s founding stockholder and Chief Executive Officer (“CEO”). The notes are due on demand as of September 30, 2015.

During the years ended September 30, 2014 and 2015, the Company recognized interest expense related to the stockholder notes of $541,914 and $1,869,113, respectively.

Debt

12 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Debt

8. Debt

	September 30,
	2014			2015
Term loans-Bank		$	3,935,574		$	3,404,759
Equipment loans			528,876			334,093
Unamortized debt discount			(85,706)			(73,442)
			4,378,744			3,665,410
Less current portion			725,706			742,646
Long-term debt, excluding current portion		$	3,653,038		$	2,922,764

The term bank loans bear interest at the prime rate plus 2.75% and are adjusted monthly. The original term of the loans range from 7 – 10 years. Minimum monthly payments of principal and interest under the terms of the loans are $62,654 and are collateralized by equipment, a secured interest in the personal residence of the founding stockholder and CEO, an unconditional personal guarantee by the founding stockholder and CEO and a $200,000 certificate of deposit. The Company maintains a life insurance policy on its founding stockholder and CEO in which the bank is the primary beneficiary. The loans contain certain non-financial covenants.

The equipment loans bear interest at rates ranging from 11%-18% with the original term of the loans ranging from 1-5 years. Minimum monthly payments of principal and interest under the equipment loans are $26,539 and are collateralized by the related equipment purchased and an unconditional personal guarantee by the founding stockholder and CEO.

Interest expense on the above loans for the years ended September 30, 2014 and 2015 was $276,496 and $287,280, respectively.

Future maturities of debt at September 30, 2015 are as follows:

2016	$	742,646
2017		717,794
2018		637,479
2019		509,864
2020		523,062
Thereafter		608,007
	$	3,738,852

Commitments

12 Months Ended

Sep. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments

9. Commitments

Selexis Commercial License Agreements

In April 2013, the Company entered into commercial license agreements with Selexis for each of the ONS-3010, ONS-1045 and ONS-1050 biosimilar product candidates (which agreements were subsequently amended on May 21, 2014). Under the terms of each commercial license agreement, the Company acquired a non-exclusive worldwide license under the Selexis Technology to use the applicable Selexis expression technology along with the resulting Selexis materials/cell lines, each developed under the research license, to manufacture and commercialize licensed and final products, with a limited right to sublicense.

The Company paid an upfront licensing fee to Selexis for each commercial license and also agreed to pay a fixed milestone payment for each licensed product. In addition, the Company is required to pay a low single-digit royalty on a final product-by-final product and country-by-country basis, based on worldwide net sales of such final products by the Company or any of the Company’s affiliates or sublicensees during the royalty term. The royalty term for each final product in each country is the period commencing from the first commercial sale of the applicable final product in the applicable country and ending on the expiration of the specified patent coverage. At any time during the term, the Company has the right to terminate its royalty payment obligation by providing written notice to Selexis and paying Selexis a royalty termination fee.

Each of the Company’s commercial agreements with Selexis will expire upon the expiration of all applicable Selexis patent rights. Either party may terminate the related agreement in the event of an uncured material breach by the other party or in the event the other party becomes subject to specified bankruptcy, winding up or similar circumstances. Either party may also terminate the related agreement under designated circumstances if the Selexis Technology infringes third-party intellectual property rights. In addition, the Company has the right to terminate each of the commercial agreements at any time at its convenience; however, with respect to the agreements relating to ONS-3010 and ONS-1045, this right is subject to the licensee’s consent pursuant to a corresponding letter the Company executed in conjunction with the standby agreement entered into between Selexis and Liomont in November 2014.

The standby agreement permits Liomont to assume the license under the applicable commercial agreement for Mexico upon specified triggering events involving our bankruptcy, insolvency or similar circumstances.

Technology License

The Company entered into a technology license agreement which will require milestone payments of $375,000 (based on an exchange rate on September 30, 2015 for converting Swiss Francs to U.S. dollars) to the licensor by the Company upon achievement of certain clinical milestones and pay a single digit royalty on net sales by the Company utilizing such technology. The Company also has the contractual right to buy out the royalty payments at a future date.

Leases

In May 2012, the Company entered into a lease agreement for its office and operating space which, as amended, has a term ending in June 2021. Rent expense under the leases was $581,464 and $720,875 for the years ended September 30, 2014 and 2015, respectively. The Company recognizes rent expense on a straight-line basis over the lease period and has accrued for rent expense incurred but not yet paid. Landlord allowances for tenant improvements are deferred and recognized as a reduction to rent expense on a straight line basis and over the remaining lease term. As part of the most recent amendment to the lease agreement in May 2014, the Company increased the amount of space to be leased and, accordingly, agreed to new monthly lease terms for the additional space.

Future minimum rental payments under noncancelable operating leases at September 30, 2015 are as follows:

2016	$	888,710
2017		865,763
2018		865,763
2019		876,323
2020		887,045
Thereafter		643,749
	$	5,027,353

Employment Benefit Plan

The Company maintains a defined contribution 401(k) plan in which employees may contribute up to 100% of their salary and bonus, subject to statutory maximum contribution amounts. The Company matches 100% of the first 3% of employee contributions. The Company assumes all administrative costs of the Plan. For the years ended September 30, 2014 and 2015, the expense relating to the matching contribution was $83,969 and $131,385, respectively.

Redeemable Preferred Stock, Common Stock, Noncontrolling Interests and Stockholders' Equity (Deficit)	6 Months Ended	12 Months Ended
	Mar. 31, 2016	Sep. 30, 2015
Equity [Abstract]
Redeemable Preferred Stock, Common Stock, Noncontrolling Interests and Stockholders' Equity (Deficit)	7. Redeemable Preferred Stock, Common Stock, Noncontrolling Interests and Stockholders’ Equity (Deficit) Common stock During the six months ended March 31, 2016, the Company sold 573,788 shares of its common stock at $29.05 per share raising $16,137,913 in net proceeds. Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Subject to preferences that may apply to any outstanding preferred stock, holders of common stock are entitled to receive ratably any dividends that the Company’s board of directors may declare out of funds legally available for that purpose on a non-cumulative basis. No dividends had been declared through March 31, 2016. Series A preferred stock In the event of a liquidation, dissolution or winding up of the Company, either voluntary or involuntary, or in the event of a Deemed Liquidation Event, as defined in the Certificate of Incorporation, holders of Series A preferred stock are entitled to receive, in preference to all other stockholders, an amount equal to the original issue price, as defined in the Certificate of Incorporation, plus any unpaid accrued dividends. If upon the occurrence of such event, the assets and funds thus distributed among the holders of the Series A preferred stock shall be insufficient to pay such holders, then the entire assets and funds of the Company legally available for distribution shall be distributed ratably among the holders of the Series A preferred stock in proportion to the respective amount of such stock owned by each such holder. The Company may redeem the Series A preferred stock, in whole at any time and from time to time in part, at the option of the Company, for cash, at a redemption price equal to the Original Issuance Price (as defined in the Certificate of Incorporation) plus any unpaid accrued dividends. The holders of the Series A preferred stock have no voting rights outside of matters directly related to Series A preferred stock. Upon the closing of the Company’s IPO, all then outstanding shares of Series A preferred stock will automatically convert into shares of the Company’s common stock at a conversion rate equal to the IPO price per share and divided by the liquidation preference of the Series A preferred stock. In connection with the closing of the Company’s IPO, the Series A converted into 1,969,818 shares of common stock. Deconsolidation of noncontrolling interests Through September 30, 2015, the Company consolidated the operations of Sonnet Biotherapeutics, Inc. (“Sonnet”), which was spun-off to the Company’s stockholders in April 2015, because the Company was the primary funding source to Sonnet through September 2015. Effective October 1, 2015, additional capital was contributed to Sonnet by third-party investors triggering a reconsideration event, which resulted in the Company no longer being considered the primary beneficiary and as a result, the Company has deconsolidated Sonnet. Sonnet issued the Company a $826,561 promissory note which reflects the funding the Company provided Sonnet through September 30, 2015. The note bears interest at 3.0% and matures September 30, 2016. There were no gains or losses recognized upon deconsolidation since no equity interest was owned by the Company. As of March 31, 2016, the balance of the note is $33,396 plus accrued interest of $9,791.	10. Redeemable Preferred Stock, Common Stock, Noncontrolling Interests and Stockholders’ Equity (Deficit) Common stock During the year ended September 30, 2015, the Company sold 1,765,511 shares of its common stock at $25.79 per share under a mezzanine funding round raising $44,142,463 in net proceeds of which $4,280,149 was received in October 2015. Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the board of directors, if any, subject to the preferential dividend rights of the Series A and Series B redeemable preferred stock (collectively, the “Redeemable Preferred Stock”). The Company may not pay dividends to common stockholders until all dividends accrued or declared but unpaid on the Redeemable Preferred Stock have been paid in full. No dividends had been declared through September 30, 2015. Redeemable common stock During the year ended September 30, 2014, the Company sold 1,159,420 and 579,710 shares of its common stock to an investor at $6.04 and $6.90 per share, respectively, and net of $105,000 in issuance costs. Pursuant to the terms of the purchase agreement, in the event that the Company sells its common stock any time prior to the Company engaging in a Qualified IPO or Qualified Liquidation Event, as defined, at a price below $6.04 per share and $6.90 per share for 1,159,420 and 579,710 shares sold, respectively, the investors are entitled to receive additional shares of common stock. In addition, if the Company fails to engage in a Qualified IPO or Qualified Liquidation Event prior to March 10, 2017, the investor shall have the right to require the Company to redeem any or all of the investor’s common stock at a redemption price equal to $12.08 per share for 1,159,420 of its shares and $13.80 per share for 579,710 of its shares. The Redeemable Common Stock is classified outside of stockholders’ equity (deficit) because of the redemption right held by the investors. Redeemable preferred stock The Company has Redeemable Preferred Stock which is classified outside of stockholders’ deficit because the shares contain redemption features that are not solely within the control of the Company. Through December 2013, the Company sold 6,995 shares of Series A Participating Preferred Stock (Series A) and 3,600 shares of Series B Participating Preferred Stock (Series B). During the year ended September 30, 2014, the Company sold an additional 400 shares of Series B. In connection with the sale of Series B, the Company issued 1,119,565 shares of common stock. In addition to the rights and preferences described below for the Series A and Series B, the investors also received the right to receive an additional 289 shares of common stock for each share of Redeemable Preferred Stock upon redemption. The total purchase of $10,995,000 was allocated on a relative fair value basis between redeemable preferred stock and the equity instruments resulting in $5,920,000 and $2,280,000 allocated to the initial carrying value of the Series A and Series B, respectively, with the balance allocated to common stock. Subsequently, the carrying value of the Series A and Series B are accreted up to their redemption value using the effective interest method. Dividends The holders of the Redeemable Preferred Stock are entitled to receive cumulative dividends at an annual rate of $100 per share. In the event the Company cannot satisfy its redemption obligation to the holders, the annual dividend will increase to $120 per share. Dividends accrue whether or not earned or declared, irrespective of the availability of profits. Dividends on redeemable preferred stock are payable upon redemption or upon liquidation. Liquidation preference In the event of a liquidation, dissolution or winding up of the Company, either voluntary or involuntary, or in the event of a Deemed Liquidation Event, as defined, holders of Series A are entitled to receive, in preference to all other stockholders, an amount equal to the Original Issue Price, as defined in the Certificate of Designation for the Series A, plus any unpaid accrued dividends. If upon the occurrence of such event, the assets and funds thus distributed among the holders of the Series A shall be insufficient to pay such holders, then the entire assets and funds of the Company legally available for distribution shall be distributed ratably among the holders of the Series A in proportion to the respective amount of such stock owned by each such holder. After payments have been made in full to the holders of Series A, then, to the extent available, holders of the Series B are entitled to participate in the distribution of the remaining assets, pro rata based on the number of shares by each holder. Redemption The holders of redeemable preferred stock have a right to require the Company to redeem all outstanding shares at a redemption price equal to the Original Issue Price plus unpaid accrued dividends. In addition, the holders of Redeemable Preferred Stock will receive 289 shares of common stock for each share of Redeemable Preferred Stock redeemed. Voting rights The holders of the Redeemable Preferred Stock have no voting rights outside of matters directly related to each series of Redeemable Preferred Stock. In addition, the holders of the Redeemable Preferred Stock, as a class, may elect 1 board member to represent its interest, respectively. Repurchase transactions In June 2014, the Company entered into a series of equity transactions in which it (1) repurchased 3,314 shares of the Series A, (2) repurchased 960,144 shares of common stock, and (3) settled accrued dividends on the Series A of $864,534. The Series A repurchase price was $2,000 per share for a total of $6,628,000 of which $4,128,000 was paid in cash with the balance of $2,500,000 through the issuance of notes payable. The Company also issued $864,534 of notes payable for the accrued dividends. The Company recorded a deemed dividend of $3,336,855, which represents the total consideration paid of $7,492,534 in excess of carrying value of the Series A of $4,155,679. In June 2014, the Company repurchased 960,144 shares of common stock and issued notes payable at a repurchase price of $3.45 per share. In 2015, the Company purchased an additional 113 shares of Series A and cumulative dividends of $29,370 for $2,000 per share upon which the Company recorded a deemed dividend of $83,631, which represents the total consideration paid of $226,000 in excess of carrying value of the Series A of $142,370. From October through December 2014, the Company repurchased 1,215 Parilis Preferred Units. The repurchase price was $2,000 per share plus unpaid dividends of $331,818 for a total of $2,761,818. The Company recorded a deemed dividend of $1,215,000, which represents the total consideration paid in excess of the carrying value of the redeemable noncontrolling interest of $1,546,818. Upon repurchase, the Company issued notes to the investors.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

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

Reference 11: 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 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

+ Details

Stock-Based Compensation

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

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

Stock-Based Compensation

8. Stock-Based Compensation

2011 Equity Incentive Plan

The Company’s 2011 Equity Compensation Plan (the “2011 Plan”) provides for the Company to sell or issue restricted common stock, restricted stock units (“RSUs”), performance-based awards, cash-based awards or to grant stock options for the purchase of common stock. The 2011 Plan is administered by the board of directors or, at the discretion of the board of directors, by a committee of the board. The number of shares of common stock reserved for issuance under the 2011 Plan is 1,159,420, which may be granted to officers, employees, consultants and directors of the Company. As of March 31, 2016, performance-based stock units (“PSUs”) representing 247,887 shares of the Company’s common stock were outstanding under the 2011 Plan. In light of the December 2015 adoption of the 2015 Equity Incentive Plan, no future awards under the 2011 Plan will be granted.

2015 Equity Incentive Plan

In December 2015, the Company adopted the 2015 Equity Incentive Plan (the “2015 Plan”). The 2015 Plan provides for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance stock awards and other forms of equity compensation to employees, directors and consultants. The maximum number of shares of common stock that may be issued under the 2015 Plan is 1,246,377 shares. As of March 31, 2016, RSUs representing 1,066,039 shares of the Company’s common stock were outstanding under the 2015 Plan and 180,338 shares remained available for grant under the 2015 Plan.

The Company recorded stock-based compensation (income) expense in the following expense categories of its statements of operations for the three and six months ended March 31, 2016 and 2015:

	Three months ended March 31,						Six months ended March 31,
	2016			2015			2016			2015
Research and development		$	(3,281,214)		$	3,650,718		$	(1,924,806)		$	3,734,993
General and administrative			(1,165,275)			3,379,388			(31,649)			3,440,787
		$	(4,446,489)		$	7,030,106		$	(1,956,455)		$	7,175,780

	Three months ended March 31,						Six months ended March 31,
	2016			2015			2016			2015
Equity-classified compensation		$	(4,446,489)		$	2,231		$	(4,348,317)		$	4,462
Liability-classified compensation			—			7,027,875			2,391,862			7,171,318
		$	(4,446,489)		$	7,030,106		$	(1,956,455)		$	7,175,780

Performance-based stock units

The following table summarizes the PSU activity for the six months ended March 31, 2016:

	Number of PSUs		Base Price Per PSU
Balance at October 1, 2015		687,013		$	3.45
Forfeitures		(4,346)			3.45
Exchanged for restricted stock units		(434,780)			3.45
Balance at March 31, 2016		247,887		$	6.33

In December 2015, the Company completed a tender-offer to holders of outstanding PSUs to amend the terms of such outstanding awards to increase the base price to an amount equal to the fair market value of a share of the Company’s common stock on the date of grant of the PSU, remove the right to be paid dividend equivalents and provide for settlement in shares of the Company’s common stock or cash, at the Company’s discretion. Upon amending the settlement terms of the PSUs, the Company reclassified the stock-based compensation liability to additional paid-in capital. The PSUs continue to be re-measured at each reporting period until the earlier of (i) an IPO, (ii) change in control, or (iii) action taken by the Board of directors to confirm the vesting criteria has been achieved.

Concurrent with the tender-offer, several PSU holders cancelled an aggregate of 434,780 PSUs in exchange for 391,303 restricted stock units (“RSUs”). The Company accounted for the exchange as a modification, and, as a result, recognized $98,172 of additional stock-based compensation during the six months ended March 31, 2016 based on the fair value of the RSUs in excess of the fair value of the PSUs exchanged.

As of March 31, 2016, there was $300,000 of unamortized expense that will be recognized in future periods.

Restricted stock units

The following table summarizes the activity related to RSUs granted during the six months ended March 31, 2016:

	Number of RSUs		Grant Date Fair Value
Balance at October 1, 2015		—		$	—
Granted		674,890			29.05
Forfeitures		(154)			29.05
Issued in connection with PSU exchange		391,303			29.05
Balance at March 31, 2016		1,066,039		$	29.05

As of March 31, 2016, there were 387,868 RSUs that will vest upon the expiration of the 180-day lock-up period following the Company’s IPO or a change in control. The remaining 678,171 RSUs will vest upon the expiration of the 180-day lock-up period following the Company’s IPO or change in control and over the following time-based vesting periods:

■ 525,999 RSUs with 50% vesting on each of the first and second anniversaries of the recipient’s grant date

■ 21,738 RSUs with one-third vesting on each of the first, second, and third anniversaries of the recipient’s hire date

■ 130,434 RSUs with 50% vesting on each of the third and fourth anniversaries of the recipient’s hire date

The expiration of the lock-up period following an IPO or a change in control are performance conditions that are outside the Company’s control. Therefore, the Company did not recognize any stock-based compensation until the consummation of the IPO in May 2016. As of March 31, 2016, there was $21,100,000 of unamortized expense.

11. Stock-Based Compensation

The Company’s 2011 Equity Compensation Plan (the “2011 Plan”) provides for the Company to sell or issue restricted common stock, restricted stock units, performance-based awards, cash-based awards or to grant stock options for the purchase of common stock. The 2011 Plan is administered by the board of directors or, at the discretion of the board of directors, by a committee of the board. The number of shares of common stock reserved for issuance under the 2011 Plan is 1,159,420, which may be granted to officers, employees, consultants and directors of the Company.

As required by the 2011 Plan, the exercise price for stock options granted is not to be less than the fair value of common shares as determined by the Company as of the date of grant. The term of stock options may not be greater than ten years. Generally, stock options granted under the 2011 Plan vest 50% on the third anniversary from the grant date and 50% on the fourth anniversary. In the event of change in control, any outstanding option shall become fully vested and exercisable.

For restricted stock awards granted to employees, the fair value of the award is the current fair value of the Company’s common stock on the grant date, while for non-employees, the fair value of the award is re-measured each reporting period using the then-current fair value of the Company’s common stock until performance is complete. The restricted stock awards vest 50% on the third anniversary from the grant date and 50% on the fourth anniversary. In the event of change in control, any outstanding unvested share shall become fully vested.

The Company recorded stock-based compensation expense in the following expense categories of its statements of operations for the years ended September 30, 2014 and 2015:

	September 30,
	2014			2015
Research and development		$	671,745		$	5,817,830
General and administrative			3,286,735			5,360,028
		$	3,958,480		$	11,177,858

	September 30,
	2014			2015
Equity-classified compensation		$	2,764,878		$	8,925
Liability-classified compensation			1,193,602			11,168,933
		$	3,958,480		$	11,177,858

In June 2014, the Company entered into agreements with certain employees and non-employees to exchange 31,304 stock options and 602,464 restricted stock awards for 711,430 PSUs. In addition, the Company repurchased 636,376 restricted stock awards in exchange for $1,097,750 of notes payable. Upon issuing the notes payable, the Company recognized the unamortized balance of stock-based compensation expense of $1,730,791.

The repurchase of restricted stock in exchange for notes payable was accounted for as a settlement which effectively accelerated vesting of any unvested awards, requiring the immediate recognition of any unrecognized compensation cost. The Company recorded incremental stock-based compensation expense of $792,601 to reflect this settlement. The exchange of restricted stock and stock options for PSUs was considered a modification with a change in classification from an equity classified award to a liability classified award due to the cash settlement feature of the PSUs. The liability related to the PSUs is re-measured at each reporting period until the PSUs are exercised or expire. Upon recording the initial stock-based compensation liability, the Company increased accumulated deficit $364,187, which represents the cumulative stock-based compensation expense recognized to date for the stock options and restricted stock exchanged into PSUs.

Performance-based stock units

The Company has issued PSUs, which generally have a ten year life from the date of grant and vest 50% after the third anniversary from issuance and the remaining 50% on the fourth anniversary. The PSUs are exercisable upon the earlier of (i) a change in control, (ii) consummation of an initial public offering, or (iii) a corporate valuation in excess of $400 million and at the discretion by the Company’s board of directors. Upon exercise, the PSU holder receives a cash payment for the difference between the current per share fair value of the Company’s common stock and the base price of the PSU, which is $3.45 per PSU. Given the cash settlement, the PSUs are liability classified and re-measured at each reporting date with changes in fair value recorded within the Company’s consolidated statements of operations. See note 4 for discussion of fair value of the PSUs.

The following table summarizes the PSU activity for the years ended September 30, 2014 and 2015:

	Balance at October 1, 2013					—
	Issued in exchange for restricted shares and stock options					711,430
	Additional issuances					16,864
	Forfeitures					(69,796)
	Balance at September 30, 2014					658,498
	Grants					39,988
	Forfeitures					(11,473)
	Balance at September 30, 2015					687,013

Restricted stock

The following table summarizes the activity related to restricted stock grants to employees and non-employees for the years ended September 30, 2014 and 2015:

	Employees		Non Employees		Weighted Average Grant Date Fair Value
Balance at October 1, 2013		657,681		555,217		$	1.04
Granted		90,869		—			5.55
Vested		(29,565)		(2,898)			0.69
Exchange for PSUs		(573,478)		(28,986)			1.38
Repurchased for stockholder notes		(115,942)		(520,435)			1.35
Balance at September 30, 2014		29,565		2,898			0.69
Vested		(29,565)		(2,898)			0.69
Balance at September 30, 2015		—		—		$	—

At September 30, 2015, there was no unrecognized compensation cost related to non-vested restricted stock.

Of the 32,463 shares of restricted stock that vested during the year ended September 30, 2014, 2,831 shares were withheld by the Company for income tax withholdings. No shares were withheld by the Company for taxes on the restricted stock that vested during the year ended September 30, 2015.

Stock options

The Company has not granted stock options since December 2011 and there is no unrecognized compensation expense as of September 30, 2015.

The fair value of stock options granted was estimated using the Black-Scholes option pricing model. As a private company, the expected volatility is based on the historical volatility of a publicly traded set of peer companies. The expected term of the Company’s stock options is determined utilizing the “simplified” method. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award.

The following table summarizes stock option activity for the year ended September 30, 2014:

	Number of Options		Weighted Average Exercise Price Per Share
Balance at October 1, 2013		31,304		$	3.45
Exchange for PSUs		(31,304)			3.45
Balance at September 30, 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

Collaboration Arrangements	12 Months Ended
Collaboration Arrangements	Sep. 30, 2015
Collaboration Arrangements [Abstract]
Collaboration Arrangements	12. Collaboration Arrangements Huahai agreement In May 2013, the Company entered into strategic license and collaboration arrangement with Zhejiang Huahai Pharmaceutical Co., Ltd (“Huahai”) under which the Company granted Huahai and its affiliates an exclusive license for the research, development, manufacture, use or sale of ONS-3010 or ONS-1045 in China, including, the People’s Republic of China, Hong Kong, Macau and Taiwan. In addition, the Company granted Huahai a right and license under the Selexis Technology agreement to establish a production process for the products in the agreed territory and to market the products in the agreed territory pursuant to the relevant terms and conditions of the Company’s commercial license agreement with Selexis. Under the terms of the arrangement, the Company has received $7,500,000 in upfront payments and non-substantive milestones and received $8,500,000 in substantive milestones. The Company determined that the deliverables under the Huahai arrangement were the exclusive license and the research and development services to be completed by the Company. Since the license did not have standalone value, the upfront and non-substantive milestones payments received have been deferred and are being recognized ratably on a straight line basis through December 2019, the expected date in which the research and development will be completed. Substantive milestones received under the Huahai arrangement are recognized upon achievement. During the years ended September 30, 2014 and 2015, the Company recognized $1,076,979 and $1,175,580, respectively, of deferred revenues. For the years ended September 30, 2014 and 2015, the Company received and recognized $6,500,000 and $2,000,000 in substantive milestone payments, respectively. As of September 30, 2014 and 2015, deferred revenue included in the Company’s consolidated balance sheet related to the Huahai arrangement was $6,104,110 and $4,928,530, respectively. IPCA agreements License and Collaboration Agreement In August 2013, the Company entered into a strategic license agreement with IPCA Laboratories Limited and its affiliates (“IPCA”) under which the Company granted IPCA a license for the research, development, manufacture, use or sale of the ONS-3010 and, by amendment in May 2014, the ONS-1045 biosimilar product candidates with respect to India, Sri-Lanka, and Myanmar, and non-exclusive with respect to Nepal and Bhutan, or collectively, the agreed territory. In addition, the Company granted IPCA a right and license under the Selexis Technology to enable IPCA to establish an exclusive production process for the products in its agreed territory and to exclusively market the products in the agreed territory. The Company also agreed not to amend or terminate its rights under its commercial license agreement with Selexis without IPCA’s prior written consent. Pursuant to the agreement, the Company agreed to continue the non-clinical and clinical development of each of ONS-3010 and ONS-1045 and corresponding products around the world and to develop and commercialize such products through Phase 3 clinical trials and regulatory approval in the United States and European Union. These obligations continue until termination of the agreement or the individual development programs or upon final regulatory approval of the last product for such biosimilars in the United States or European Union. The Company agreed to provide IPCA with a pre-IND package as submitted to EMEA and FDA, as well as perform preclinical development and characterization of ONS-3010 and ONS-1045 so as to enable IPCA to file an IND to conduct clinical trials and to perform clinical trials. Under the terms of the agreement, the Company has received upfront and non-substantive milestone payments of $2,400,000, and received $1,000,000 in regulatory milestone payments. In addition, the Company is eligible to receive royalties at a low double-digit percentage rate of annual net sales of products by IPCA and its affiliates in the agreed territory. For each of ONS-3010 and ONS-1045, IPCA agreed to fund a portion of the global costs associated with the Phase 3 clinical trials. The Company determined that the deliverables under the IPCA arrangement were the exclusive license and the research and development services to be completed by the Company. Since the license did not have standalone value, the upfront and non-substantive milestones payments received have been deferred and are being recognized ratably on a straight line basis through December 2019, the expected date in which the research and development will be completed. Substantive milestone payments received under the IPCA arrangement are recognized upon achievement. Cost reimbursements from IPCA related to the global costs associated with the Phase 3 clinical trials are recognized when payments are received and recorded as a reduction in research and development expense. During the years ended September 30, 2014 and 2015, the Company recognized deferred revenues of $189,472 and $402,377, respectively. For each of the years ended September 30, 2014 and 2015, the Company received and recognized a $500,000 substantive milestone payment. As of September 30, 2014 and 2015, deferred revenue included in the Company’s consolidated balance sheets was $994,739 and $1,792,362, respectively. Strategic Collaboration and Non-Exclusive License Agreement In January 2014, the Company entered into a strategic collaboration and license agreement with IPCA to assist IPCA in establishing its research, development and manufacturing capabilities for monoclonal antibodies and biologics, including, in part, through collaborative development, manufacture and commercialization of ONS-1050 in the agreed territory (as specified below). Under the agreement, the Company granted IPCA and its affiliates a non-exclusive license in the agreed territory for the research, development, manufacture, use or sale of ONS-1050. The Company also agreed to assist IPCA with its research and development program. The agreed territory for ONS-1050 includes the Republics of India, Sri-Lanka, and Myanmar, Nepal and Bhutan, while the agreed territory for any product candidates developed independent of the Company’s involvement is global without geographical restriction. Any further collaboration between for such independently developed product candidates will be the subject of a separate written agreement if required by IPCA. Under the terms of the agreement, the Company receives development payments and commercialization fees. In addition, the Company is eligible to receive royalties from IPCA at a mid-single digit rate on annual net sales of ONS-1050 commercialized by IPCA and its affiliates in the agreed territory. The Company accounts for the agreement with IPCA as a research and development services arrangement and recognizes revenue under the proportional performance model. For the years ended September 30, 2014 and 2015, the Company recognized revenue of $750,000 and $800,000, respectively. Liomont agreement In June 2014, the Company entered into a strategic license agreement with Laboratorios Liomont, S.A. (“Liomont”), under which the Company granted Liomont and its affiliates an exclusive, sublicenseable license in Mexico for the research, development, manufacture, use or sale of the ONS-3010 and ONS-1045 biosimilar product candidates in Mexico. In addition, the Company granted Liomont a non-exclusive right and license under the Selexis Technology and related intellectual property to enable Liomont to distribute, market and commercialize the products in Mexico. The Company also agreed not to amend or terminate its rights under the commercial agreement with Selexis without Liomont’s prior written consent. Under the terms of the agreement, the Company has received $1,500,000 of upfront payments and $500,000 in non-substantive milestone payments and is eligible to receive up to $3,500,000 in future substantive milestone payments. For each of ONS-3010 and ONS-1045, Liomont agreed to fund a portion of the global costs for Phase 3 clinical trials. The Company is eligible to receive tiered royalties at upper single-digit to low double-digit percentage rates of annual net sales of products by Liomont and its affiliates in Mexico. The Company determined that the deliverables under the Liomont arrangement were the exclusive license and the research and development services to be completed by the Company. Since the license did not have standalone value, the upfront payments received have been deferred and are being recognized ratably on a straight line basis through December 2019, the expected date in which the research and development will be completed. Cost reimbursements from Liomont related to the global costs associated with the Phase 3 clinical trials are recognized when payments are received and recorded as a reduction in research and development expense. During the years ended September 30, 2014 and 2015, the Company recognized deferred revenue of $34,091 and $341,280, respectively. As of September 30, 2014 and 2015, deferred revenue included in the Company’s consolidated balance sheets was $715,909 and $1,624,629, respectively.

Related Party Transactions	12 Months Ended
Related Party Transactions	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	13. Related Party Transactions During the years ended September 30, 2014 and 2015, the following related party transactions occurred: ■ During the years ended September 30, 2014 and 2015, the Company provided $666,110 and $783,707 of non-interest bearing advances to the Company’s founding stockholder and CEO, of which $550,000 and $395,257 was repaid, respectively. Additionally, the CEO has deferred a portion of his salary, bonus, and related benefits during the years ended September 30, 2014 and 2015 and applied such deferrals against previous advances. As of September 30, 2015, the Company had accrued compensation payments of $117,506, due to the CEO. ■ In March 2015, a director of the Company loaned $1,000,000 to the Company with an interest rate of 24%. The loan was repaid in October 2015 and included $128,219 in accrued interest. ■ In June 2014, the Company repurchased 115,942 shares of restricted stock from a director of the Company in exchange for $200,000 stockholder note at a zero interest rate due September 1, 2015. Terms of the grant and repurchase were the same as non-related parties. Refer to notes 7 and 10. ■ During the years ended September 30, 2014 and 2015, the Company repurchased 1,250 shares of Series A redeemable preferred stock and satisfied accrued dividends of $326,354 from three directors of the Company in exchange for $650,000 in cash payments and the issuance of $1,850,000 in stockholder notes. The notes bear interest at 4% which are due on demand as of September 30, 2015. Under the terms of the agreement, because the notes were not paid upon maturity, they now bear interest at 6%. Terms of the share repurchase were the same as non-related parties. Refer to notes 7 and 10.

Income Taxes

12 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

Income tax expense (benefit) for the years ended September 30, 2014 and 2015 consists of the following:

	Year Ended September 30,
	2014			2015
State tax, including sale of New Jersey losses and credits		$	(833,403)			(725,969)
Foreign tax provision			1,272,421			535,858
		$	439,018		$	(190,111)

The Company has been eligible to receive cash from the sale of its net operating losses (“NOLs”) and R&D tax credits under the State of New Jersey Technology Business Tax Certificate Transfer Program. During the years ended September 30, 2014 and 2015, the Company received $835,153 and $728,218, respectively, from the sale of New Jersey NOLs. In addition, the Company incurred $1.3 million and $0.5 million of foreign withholding taxes in connection with the Company’s collaboration and licensing agreements during the years ended September 30, 2014 and 2015, respectively.

A reconciliation of income tax expense (benefit) at the statutory U.S. federal income tax rate and the Company’s effective tax rate is as follows:

	Year Ended September 30,
	2014		2015
U.S. federal statutory rate		(34.0)%		(34.0)%
State taxes, net of federal benefit		(5.1)		(5.5)
Foreign withholding tax		9.6		1.1
Permanent differences		2.7		1.8
Foreign tax credits		(9.6)		(1.1)
Research and development credit		(11.7)		(6.9)
Change in valuation allowance		51.1		44.6
Other		0.3		(0.4)
Effective income tax rate		3.3%		(0.4)%

The tax effects of the temporary differences that gave rise to deferred taxes were as follows:

	Year Ended September 30,
	2014			2015
Current and long term deferred tax assets:
Net operating loss carryforwards		$	7,340,745		$	20,164,392
Stock compensation			1,853,056			6,317,492
Deferred revenue			3,121,214			3,333,201
Research and development credit carryforward			2,680,441			5,979,964
Foreign tax credits			2,067,091			2,602,949
Accruals and others			1,040,117			1,072,422
Gross deferred tax assets			(18,102,664)			(39,470,420)
Less valuation allowance			(17,400,409)			(38,694,795)
			702,255			775,625
Deferred tax liability:
Fixed assets			(702,255)			(775,625)
Net deferred tax assets		$	—		$	—

As of September 30, 2015, the Company has approximately $52.9 million and $36.9 million of Federal and New Jersey net operating losses that will begin to expire in 2030 and 2032, respectively. As of September 30, 2015, the Company also had federal and state research and development tax credit carryforwards of $4.2 million and $1.7 million, respectively, which begin to expire in 2021. As of September 30, 2015, the Company had Federal foreign tax credit carryforwards of $2.6 million available to reduce future tax liabilities, which will begin to expire at various dates starting in 2023. $1.8 million of the FTC carryforward is included in the balance of unrecognized tax benefits. Realization of the deferred tax asset is contingent on future taxable income and based upon the level of historical losses, management has concluded that the deferred tax asset does not meet the more-likely-than-not threshold for realizability. Accordingly, a full valuation allowance continues to be recorded against the Company’s deferred tax assets as of September 30, 2014 and 2015.

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. The Company recognizes interest and penalties accrued on any unrecognized tax benefits within the provision for income taxes in its consolidated statements of operations. As of September 30, 2014 and 2015, the Company does not have any significant uncertain tax positions. The Company’s income tax returns for the years from 2011 through 2014 remain open for examination by the Internal Revenue Service as well as various states and municipalities.

The Company does not recognize tax benefits that are not more-likely-than-not to be supported based upon the technical merits of the tax position taken. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	Year Ended September 30,
	2014			2015
Balance at beginning of year		$	479,490		$	1,564,411
Additions based on tax positions related to the current year			1,084,921			190,218
Balance at end of year		$	1,564,411		$	1,754,629

The Company does not anticipate material change in the unrecognized tax benefits in the next 12 months. These unrecognized tax benefits, if recognized, would affect the annual effective tax rate.

Due to the change in ownership provisions of the Internal Revenue Code, the availability of the Company’s net operating loss carryforwards may be subject to annual limitations against taxable income in future periods, which could substantially limit the eventual utilization of such carryforwards. The Company has not analyzed the historical or potential impact of its equity financings on beneficial ownership and therefore no determination has been made whether the net operating loss carry forward is subject to any Internal Revenue Code Section 382 limitation. To the extent there is a limitation, there would be a reduction in the deferred tax assets with an offsetting reduction in the valuation allowance.

Subsequent Events

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

9. Subsequent Events

On May 18, 2016, the Company filed an amended and restated certificate of incorporation (the “Restated Certificate”) with the Secretary of State of the State of Delaware in connection with the closing of its IPO. As set forth in the Restated Certificate, the Company’s authorized capital stock now consists of 200,000,000 shares of common stock, par value $0.01 per share, and 10,000,000 shares of preferred stock, par value $0.01 per share.

On May 18, 2016, upon the closing of the IPO, the Company issued warrants to acquire an aggregate of 1,520,269 shares of its common stock to certain of the investors party to that certain investors’ rights agreement dated March 10, 2014, as amended, pursuant to the terms of an amendment to such agreement dated April 26, 2016. The warrants issued to these investors are not exercisable until 180 days after May 12, 2016, and have an initial exercise price of $0.01 per share, which may increase to $1.00 per share under certain circumstances, and expire November 18, 2019.

15. Subsequent Events

The Company has evaluated subsequent events from the balance sheet date through the date at which the consolidated financial statements were available to be issued, and determined there are no other items requiring disclosure.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Accounting Policies [Abstract]

Basis of Presentation

Basis of presentation

Use of estimates

Use of estimates

Use of estimates

Recapitalization

Recapitalization

Recapitalization

On April 26, 2016, the Company filed a certificate of amendment to amend its certificate of incorporation effecting a 1-for-3.45 reverse split of the Company’s common stock. All references in the consolidated financial statements to the number of shares and per-share amounts of common stock have been retroactively restated to reflect the reverse split.

Restricted cash

Fair Value of financial instrument

Property and equipment

Long-lived assets

Deferred offering costs

Stock-based compensation

Revenue recognition

Research and development

Income taxes

Income taxes

The Company recorded income tax expense (benefit) of $50,500 and $(726,218) for the three months ended March 31, 2016 and 2015, respectively, and $102,500 and $(319,855) for the six months ended March 31, 2016 and 2015, respectively, which is primarily attributable to the foreign withholding taxes in connection with the Company’s collaboration and licensing agreements and the sale of New Jersey net operating losses.

Income taxes

Accretion of redeemable preferred stock, redeemable common stock and redeemable noncontrolling interests

Net loss per share

Net loss per share

Basic and diluted net loss per common share is determined by dividing net loss applicable to common stockholders by the weighted-average common shares outstanding during the period. For all periods presented, the outstanding shares of preferred stock have been excluded from the calculation because their effects would be anti-dilutive. Therefore, the weighted-average shares used to calculate both basic and diluted loss per share are the same.

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares outstanding as of March 31, 2016 and 2015, as they would be antidilutive:

	March 31,
	2016		2015
Series A redeemable preferred stock		-		1,059,710
Series B redeemable preferred stock		-		1,159,418
Series A preferred stock		984,899		-
Performance-based stock units		247,887		-
Restricted stock units		1,066,039		-
Unvested shares of restricted common stock		-		32,463
Convertible stockholder note		96,618		96,618

Amounts in the table above reflect the common stock equivalents of the noted instruments.

Net loss per share

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares outstanding as of September 30, 2014 and 2015, as they would be antidilutive:

	September 30,
	2014		2015
Series A redeemable preferred stock		1,066,956		1,034,181
Series B redeemable preferred stock		1,159,418		1,159,418
Unvested shares of restricted common stock		32,463		—
Convertible stockholder note		—		96,618

Amounts in the table above reflect the common stock equivalents of the noted instruments.

The following table summarizes the calculation of unaudited pro forma basic and diluted net loss per common share:

Numerator:
Net loss applicable to common stockholders of Oncobiologics, Inc.	$	(52,998,402)
Effect of pro forma adjustments:
Accretion of redeemable preferred stock and noncontrolling interests		4,306,488
Deemed dividends		1,298,631
Pro forma net loss attributable to common stockholders of Oncobiologics, Inc.	$	(47,393,283)
Denominator:
Weighted-average common shares outstanding		9,753,616
Effect of pro forma adjustments:
Exchange of Series A and Series B redeemable preferred stock		2,193,599
Exchange of Parilis Preferred Units		226,663
Conversion of Series A Preferred Stock liquidation value		1,969,818
Shares used in computing unaudited pro forma weighted-average basic and diluted common shares outstanding		14,143,696
Unaudited pro forma basic and diluted net loss per common share	$	(3.35)

Recent accounting pronouncements

Recently Issued and Adopted Accounting Pronouncements

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The amendments in this update will explicitly require a company’s management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Early application is permitted. The Company is currently evaluating the potential impact of the adoption of this standard, but the Company believes its adoption will have no impact on its consolidated results of operations, financial position or cash flows.

In May 2014, the FASB issued ASU, No. 2014-09, Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires an entity to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about:

Contracts with customers — including revenue and impairments recognized, disaggregation of revenue and information about contract balances and performance obligations (including the transaction price allocated to the remaining performance obligations).

Significant judgments and changes in judgments — determining the timing of satisfaction of performance obligations (over time or at a point in time), and determining the transaction price and amounts allocated to performance obligations.

Certain assets — assets recognized from the costs to obtain or fulfill a contract.

In March 2016, the FASB issued ASU 2016-02, Leases, (Topic 842). This new ASU represents a wholesale change to lease accounting and introduces a lease model that brings most leases on the balance sheet. It also eliminates the required use of bright-line tests in current U.S. GAAP for determining lease classification. This ASU is effective for annual periods beginning after December 15, 2019 (i.e., calendar periods beginning on January 1, 2020), and interim periods thereafter. Earlier application is permitted for all entities. The Company is currently evaluating the impact of ASU 2016-02 on its consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, which is intended to simplify the accounting and reporting for employee share-based payment transactions. The pronouncement is effective for interim and annual periods beginning after December 31, 2016 with early adoption permitted. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements.

Recent accounting pronouncements

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The amendments in this update will explicitly require a company’s management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Early application is permitted. The Company is currently evaluating the potential impact of the adoption of this standard, but believes its adoption will have no impact on its consolidated results of operations, financial position and cash flows.

■ Certain assets — assets recognized from the costs to obtain or fulfill a contract.

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Accounting Policies [Abstract]

Schedule of dilutive securities excluded from the computation weighted-average shares

	March 31,
	2016		2015
Series A redeemable preferred stock		-		1,059,710
Series B redeemable preferred stock		-		1,159,418
Series A preferred stock		984,899		-
Performance-based stock units		247,887		-
Restricted stock units		1,066,039		-
Unvested shares of restricted common stock		-		32,463
Convertible stockholder note		96,618		96,618

	September 30,
	2014		2015
Series A redeemable preferred stock		1,066,956		1,034,181
Series B redeemable preferred stock		1,159,418		1,159,418
Unvested shares of restricted common stock		32,463		—
Convertible stockholder note		—		96,618

Schedule of unaudited pro forma basic and diluted net loss per common share

Numerator:
Net loss applicable to common stockholders of Oncobiologics, Inc.	$	(52,998,402)
Effect of pro forma adjustments:
Accretion of redeemable preferred stock and noncontrolling interests		4,306,488
Deemed dividends		1,298,631
Pro forma net loss attributable to common stockholders of Oncobiologics, Inc.	$	(47,393,283)
Denominator:
Weighted-average common shares outstanding		9,753,616
Effect of pro forma adjustments:
Exchange of Series A and Series B redeemable preferred stock		2,193,599
Exchange of Parilis Preferred Units		226,663
Conversion of Series A Preferred Stock liquidation value		1,969,818
Shares used in computing unaudited pro forma weighted-average basic and diluted common shares outstanding		14,143,696
Unaudited pro forma basic and diluted net loss per common share	$	(3.35)

Fair Value Measurements (Tables)

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

	September 30, 2015
	(Level 1)		(Level 2)		(Level 3)
Liabilities
Stock-based compensation liability	$	-	$	-	$	12,726,722

	September 30, 2014
	(Level 1)			(Level 2)			(Level 3)
Liabilities
Stock-based compensation liability		$	—		$	—		$	1,557,789

	September 30, 2015
	(Level 1)			(Level 2)			(Level 3)
Liabilities
Stock-based compensation liability		$	—		$	—		$	12,726,722

Schedule of changes in the fair value of the Company's Level 3 valuation for the stock-based compensation

Balance at October 1, 2015	$	12,726,722
Change in fair value		2,391,862
Reclassification to stockholders' equity		(15,118,584	)
Balance at March 31, 2016	$	-

Balance at October 1, 2013	$	—
Issued		364,187
Change in fair value		1,193,602
Balance at September 30, 2014		1,557,789
Change in fair value		11,168,933
Balance at September 30, 2015	$	12,726,722

Schedule of fair value of the performance-based stock units (PSUs)

		September 30,
		2015
Risk-free interest rate		1.4%
Derived service period		5 years
Expected volatility		60%
Annual dividend yield		0%
Fair value of common stock		$25.79 per share

	September 30,
	2014	2015
Risk-free interest rate	1.8%	1.4%
Derived service period	5 years	5 years
Expected volatility	60%	60%
Annual dividend yield	0%	0%
Fair value of common stock	$7.62 per share	$25.79 per share

Property and Equipment (Tables)

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

	March 31, 2016			September 30, 2015
Laboratory equipment		$	10,840,204		$	10,936,364
Leasehold improvements			9,927,614			9,889,521
Computer software and hardware			409,684			402,075
Construction in process			940,621			175,425
			22,118,123			21,403,385
Less: accumulated depreciation and amortization			(4,759,735)			(3,643,447)
		$	17,358,388		$	17,759,938

	September 30,
	2014			2015
Laboratory equipment		$	6,847,970		$	10,936,364
Leasehold improvements			2,756,291			9,889,521
Computer software and hardware			224,150			402,075
Construction in process			—			175,425
			9,828,411			21,403,385
Less: accumulated depreciation and amortization			(1,818,847)			(3,643,447)
		$	8,009,564		$	17,759,938

Schedule of future minimum lease payments under capital leases

2016	$	1,087,192
2017		1,053,748
2018		295,010
		2,435,950
Less: amounts representing interest		(353,728)
Less: current portion		(862,849)
Capital lease obligations, excluding current portion	$	1,219,373

Accrued Expenses (Tables)

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

Accrued Expenses [Abstract]

Schedule of accrued liabilities

	March 31, 2016		September 30, 2015
Compensation	$	3,137,855	$	2,321,508
Research and development		1,679,473		951,759
Interest payable		682,538		806,475
Deferred offering costs		450,648		657,892
Professional fees		280,333		594,572
Director fees		-		414,421
Other accrued expenses		173,124		178,021
	$	6,403,971	$	5,924,648

	September 30,
	2014			2015
Compensation		$	1,907,684		$	2,321,508
Research and development			170,513			951,759
Interest payable			106,940			806,475
Deferred offering costs			—			657,892
Professional fees			131,668			594,572
Director fees			239,420			414,421
Other accrued expenses			4,054			178,021
		$	2,560,279		$	5,924,648

Stockholder Notes (Tables)

12 Months Ended

Sep. 30, 2015

Short-term Debt [Abstract]

Schedule of stockholder equity

	September 30,
	2014			2015
Series A repurchase notes		$	3,014,534		$	800,534
Parilis Series A repurchase notes			—			2,275,818
Restricted stock repurchase notes			1,097,750			1,097,750
Common stock repurchase note			2,812,500			2,812,500
Convertible note			—			2,000,000
Working capital notes			3,700,000			7,227,594
			10,624,784			16,214,196
Less current portion			(10,624,784)			(14,214,196)
Stockholder notes, excluding current portion		$	—		$	2,000,000

Debt (Tables)

12 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Schedule of debt

	September 30,
	2014			2015
Term loans-Bank		$	3,935,574		$	3,404,759
Equipment loans			528,876			334,093
Unamortized debt discount			(85,706)			(73,442)
			4,378,744			3,665,410
Less current portion			725,706			742,646
Long-term debt, excluding current portion		$	3,653,038		$	2,922,764

Schedule of future maturities of debt

2016	$	742,646
2017		717,794
2018		637,479
2019		509,864
2020		523,062
Thereafter		608,007
	$	3,738,852

Commitments (Tables)

12 Months Ended

Sep. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum rental payments in operating leases

2016	$	888,710
2017		865,763
2018		865,763
2019		876,323
2020		887,045
Thereafter		643,749
	$	5,027,353

Stock-Based Compensation (Tables)

6 Months Ended

12 Months Ended

Mar. 31, 2016

Sep. 30, 2015

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

Schedule of stock-based compensation expense

	Three Months ended March 31,					Six Months ended March 31,
	2016			2015		2016			2015

Research and development	$	(3,281,214	)	$	3,650,718	$	(1,924,806	)	$	3,734,993
General and administrative		(1,165,275	)		3,379,388		(31,649	)		3,440,787
	$	(4,446,489	)	$	7,030,106	$	(1,956,455	)	$	7,175,780

	Three Months ended March 31,					Six Months ended March 31,
	2016			2015		2016			2015

Equity-classified compensation	$	(4,446,489	)	$	2,231	$	(4,348,317	)	$	4,462
Liability-classified compensation		-			7,027,875		2,391,862			7,171,318
	$	(4,446,489	)	$	7,030,106	$	(1,956,455	)	$	7,175,780

	September 30,
	2014			2015
Research and development		$	671,745		$	5,817,830
General and administrative			3,286,735			5,360,028
		$	3,958,480		$	11,177,858

	September 30,
	2014			2015
Equity-classified compensation		$	2,764,878		$	8,925
Liability-classified compensation			1,193,602			11,168,933
		$	3,958,480		$	11,177,858

Schedule of performance-based stock units activity

	Number			Base
	of			Price
	PSUs			Per PSU
Balance at October 1, 2015		687,013		$	3.45
Forfeitures		(4,346	)		3.45
Exchanged for restricted stock units		(434,780	)		3.45
Balance at March 31, 2016		247,887		$	6.33

	Balance at October 1, 2013					—
	Issued in exchange for restricted shares and stock options					711,430
	Additional issuances					16,864
	Forfeitures					(69,796)
	Balance at September 30, 2014					658,498
	Grants					39,988
	Forfeitures					(11,473)
	Balance at September 30, 2015					687,013

Schedule of restricted stock units activity

	Number
	of			Grant Date
	RSUs			Fair Value
Balance at October 1, 2015		-		$	-
Granted		674,890			29.05
Forfeitures		(154	)		29.05
Issued in connection with PSU exchange		391,303			29.05
Balance at March 31, 2016		1,066,039		$	29.05

	Employees		Non Employees		Weighted Average Grant Date Fair Value
Balance at October 1, 2013		657,681		555,217		$	1.04
Granted		90,869		—			5.55
Vested		(29,565)		(2,898)			0.69
Exchange for PSUs		(573,478)		(28,986)			1.38
Repurchased for stockholder notes		(115,942)		(520,435)			1.35
Balance at September 30, 2014		29,565		2,898			0.69
Vested		(29,565)		(2,898)			0.69
Balance at September 30, 2015		—		—		$	—

Schedule of stock option activity

	Number of Options		Weighted Average Exercise Price Per Share
Balance at October 1, 2013		31,304		$	3.45
Exchange for PSUs		(31,304)			3.45
Balance at September 30, 2014		—		$	—

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of income tax expense (benefit)

	Year Ended September 30,
	2014			2015
State tax, including sale of New Jersey losses and credits		$	(833,403)			(725,969)
Foreign tax provision			1,272,421			535,858
		$	439,018		$	(190,111)

Schedule of reconciliation of income tax expense (benefit) at the statutory income tax rate

	Year Ended September 30,
	2014		2015
U.S. federal statutory rate		(34.0)%		(34.0)%
State taxes, net of federal benefit		(5.1)		(5.5)
Foreign withholding tax		9.6		1.1
Permanent differences		2.7		1.8
Foreign tax credits		(9.6)		(1.1)
Research and development credit		(11.7)		(6.9)
Change in valuation allowance		51.1		44.6
Other		0.3		(0.4)
Effective income tax rate		3.3%		(0.4)%

Schedule of deferred taxes

	Year Ended September 30,
	2014			2015
Current and long term deferred tax assets:
Net operating loss carryforwards		$	7,340,745		$	20,164,392
Stock compensation			1,853,056			6,317,492
Deferred revenue			3,121,214			3,333,201
Research and development credit carryforward			2,680,441			5,979,964
Foreign tax credits			2,067,091			2,602,949
Accruals and others			1,040,117			1,072,422
Gross deferred tax assets			(18,102,664)			(39,470,420)
Less valuation allowance			(17,400,409)			(38,694,795)
			702,255			775,625
Deferred tax liability:
Fixed assets			(702,255)			(775,625)
Net deferred tax assets		$	—		$	—

Schedule of unrecognized tax benefits

	Year Ended September 30,
	2014			2015
Balance at beginning of year		$	479,490		$	1,564,411
Additions based on tax positions related to the current year			1,084,921			190,218
Balance at end of year		$	1,564,411		$	1,754,629

Organization and Description of Business (Detail Textuals) - USD ($)		1 Months Ended		2 Months Ended	12 Months Ended
	May 13, 2016	May 31, 2016	Oct. 31, 2015	May 18, 2016	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2011
Organization And Description Of Business [Line Items]
Basis of conversion			1-for-1 basis
Initial public offering price per share						$ 6.00
Percentage of common member units							100.00%
Estimated offering expenses					$ 54,248
Subsequent event
Organization And Description Of Business [Line Items]
Exercise price per share				$ 0.01
Gross proceeds of private placement and warrants		$ 5,000,000
Subsequent event \| Series A warrant
Organization And Description Of Business [Line Items]
Number of units issued		416,666
Subsequent event \| Series B warrant
Organization And Description Of Business [Line Items]
Number of units issued		416,666
IPO \| Subsequent event
Organization And Description Of Business [Line Items]
Description of IPO unit		Each unit consists of one share of the Company's common stock, one-half of a Series A warrant and one-half of a Series B warrant.
Initial public offering price per share		$ 6.00
Number of units issued		833,332
Unit price per share		$ 6.00
Net proceeds	$ 34,400,000			$ 34,400,000
Underwriting discounts and commissions	2,800,000
Estimated offering expenses	$ 2,800,000
IPO \| Subsequent event \| Series A warrant
Organization And Description Of Business [Line Items]
Exercise price per share		6.60
IPO \| Subsequent event \| Series B warrant
Organization And Description Of Business [Line Items]
Exercise price per share		$ 8.50
Holders of outstanding Parilis preferred stock members
Organization And Description Of Business [Line Items]
Conversion of stock number of common stock issued			226,663
Series A redeemable preferred stock
Organization And Description Of Business [Line Items]
Conversion of stock number of common stock issued			1,000
Conversion of stock shares, preferred stock shares issued			$ 1.4035
Series A redeemable preferred stock \| Holders of Series A and B preferred stock
Organization And Description Of Business [Line Items]
Conversion of stock, number of preferred stock issued			10,193
Series A redeemable preferred stock \| Holders of outstanding Parilis preferred stock members
Organization And Description Of Business [Line Items]
Conversion of stock, number of preferred stock issued			1,626
Series B redeemable preferred stock
Organization And Description Of Business [Line Items]
Conversion of stock number of common stock issued			1,000
Conversion of stock shares, preferred stock shares issued			$ 1.2867
Common Stock \| Series A redeemable preferred stock
Organization And Description Of Business [Line Items]
Common stock issued upon redemption of preferred stock					289
Common Stock \| Series B redeemable preferred stock
Organization And Description Of Business [Line Items]
Common stock issued upon redemption of preferred stock					289

Liquidity (Detail Textuals) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Liquidity [Abstract]
Accumulated deficit	$ (114,470,878)	$ (94,064,286)	$ (45,151,218)
Aggregate indebtedness	$ 8,900,000	$ 14,200,000

Basis of Presentation and Summary of Significant Accounting Policies (Details) - shares	6 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Series A redeemable preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		1,059,710	1,034,181	1,066,956
Series B redeemable preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		1,159,418	1,159,418	1,159,418
Series A preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	984,899
Performance-based stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	247,887
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,066,039
Unvested shares of restricted common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		32,463		32,463
Convertible stockholder note
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	96,618	96,618	96,618

Basis of Presentation and Summary of Significant Accounting Policies (Details 1) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net loss applicable to common stockholders of Oncobiologics, Inc.	$ (4,572,794)	$ (15,083,538)	$ (22,376,545)	$ (22,292,957)	$ (52,998,402)	$ (20,658,324)
Effect of pro forma adjustments:
Accretion of redeemable preferred stock and noncontrolling interests	(1,030,414)	(1,034,529)	(1,969,953)	(2,105,693)	(4,306,488)	(3,588,996)
Deemed dividends		(67,633)		(1,298,631)	(1,298,631)	(3,336,855)
Net loss attributable to Oncobiologics, Inc.	$ (3,542,380)	$ (13,981,376)	$ (20,406,592)	$ (18,888,633)	$ (47,393,283)	$ (13,732,473)
Denominator:
Weighted-average common shares outstanding (in shares)	14,155,081	9,377,450	13,605,331	9,377,450	9,753,616	8,509,654
Effect of pro forma adjustments:
Exchange of Series A and Series B redeemable preferred stock					2,193,599
Exchange of parilis preferred units (in shares)					226,663
Conversion of series A preferred stock liquidation value (in shares)					1,969,818
Shares used in computing unaudited pro forma weighted-average basic and diluted common shares outstanding					14,143,696
Unaudited pro forma basic and diluted net loss per common share					$ (3.35)

Basis of Presentation and Summary of Significant Accounting Policies (Detail Textuals) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 26, 2016	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event [Line Items]
Reverse split				1-for-3.45
Income tax expense attributable to foreign withholding taxes in connection with collaboration and licensing agreements		$ 50,500	$ (726,218)	$ 102,500	$ (319,855)
Restricted cash		$ 214,773		$ 214,773		$ 213,663	$ 211,452
Estimated useful lives						3 to 10 years
Exchange of parilis preferred units (in shares)						226,663
Conversion of series A preferred stock liquidation value (in shares)						1,969,818
Shares used in computing unaudited pro forma weighted-average basic and diluted common shares outstanding (in shares)						14,143,696
Initial public offering price per share						$ 6.00
Series A redeemable preferred stock
Subsequent Event [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount						1,034,181
Series A liquidation value (in shares)						11,819,000
Series B redeemable preferred stock
Subsequent Event [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount						1,159,418
Subsequent event
Subsequent Event [Line Items]
Reverse split	1-for-3.45

Fair Value Measurements (Details) - Fiar value mesurements recurring basis - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Level 1
Liabilities, Fair Value Disclosure [Abstract]
Stock based compensation liability
Level 2
Liabilities, Fair Value Disclosure [Abstract]
Stock based compensation liability
Level 3
Liabilities, Fair Value Disclosure [Abstract]
Stock based compensation liability	$ 12,726,722	$ 1,557,789

Fair Value Measurements (Details 1) - USD ($)	6 Months Ended	12 Months Ended
Fair Value Measurements (Details 1) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 12,726,722	$ 1,557,789
Issued			$ 364,187
Change in fair value	2,391,862	11,168,933	1,193,602
Reclassification to stockholders' equity	$ (15,118,584)
Ending Balance		$ 12,726,722	$ 1,557,789

Fair Value Measurements (Details 2) - Stock-based performance units ("PSUs"), - $ / shares	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Risk-free interest rate	1.40%	1.80%
Derived service period	5 years	5 years
Expected volatility	60.00%	60.00%
Annual dividend yield	0.00%	0.00%
Fair value of common stock	$ 25.79	$ 7.62

Fair Value Measurements (Detail Textuals) - Performance-based stock units - $ / shares	6 Months Ended	12 Months Ended
	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of PSUs	10 years	10 years
Condition for early excercise of stock based performance units	excess of $400 million	excess of $400 million
Method used for cost of award	Monte Carlo simulation model	Monte Carlo simulation model
Share price		$ 22.22	$ 3.45
After third anniversary from issuance of stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%	50.00%
Fourth anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%	50.00%

Property and Equipment (Details) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 22,118,123	$ 21,403,385	$ 9,828,411
Less: accumulated depreciation and amortization	(4,759,735)	(3,643,447)	(1,818,847)
Property and equipment, net	17,358,388	17,759,938	8,009,564
Laboratory Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,840,204	10,936,364	6,847,970
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,927,614	9,889,521	2,756,291
Computer software and hardware
Property, Plant and Equipment [Line Items]
Property and equipment, gross	409,684	402,075	$ 224,150
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 940,621	$ 175,425

Property and Equipment (Details 1) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Property, Plant and Equipment [Abstract]
2016		$ 1,087,192
2017		1,053,748
2018		295,010
Capital leases future minimum payments due		2,435,950
Less: amounts representing interest		(353,728)
Less: current portion	$ (907,274)	(862,849)	$ (132,090)
Capital lease obligations	$ 810,122	$ 1,219,373	$ 32,914

Property and Equipment (Detail Textuals) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Property and Equipment (Detail Textuals) - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 598,097	$ 218,996	$ 1,192,074	$ 441,071	$ 1,824,600	$ 878,477
Laboratory Equipment
Property, Plant and Equipment [Line Items]
Laboratory equipment under capital leases	3,608,801		3,608,801		3,530,301	926,231
Accumulated depreciation related to leased equipment	$ 673,188		$ 673,188		$ 407,210	$ 206,663
Laboratory Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Term of capital leases			11 months		11 months
Capital leases interest rate			8.20%		8.60%
Laboratory Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Term of capital leases			36 months		36 months
Capital leases interest rate			21.40%		21.40%

Accrued Expenses (Details) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Accrued Liabilities, Current [Abstract]
Compensation	$ 3,137,855	$ 2,321,508	$ 1,907,684
Research and development	1,679,473	951,759	170,513
Interest payable	682,538	806,475	$ 106,940
Deferred offering costs	450,648	657,892
Professional fees	$ 280,333	594,572	$ 131,668
Director fees		414,421	239,420
Other accrued expenses	$ 173,124	178,021	4,054
Accrued expenses	$ 6,403,971	$ 5,924,648	$ 2,560,279

Stockholder Notes (Details) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Short-term Debt [Line Items]
Stockholder notes	$ 9,700,000	$ 16,214,196	$ 10,624,784
Stockholder notes, excluding current portion		2,000,000
Series A repurchase notes
Short-term Debt [Line Items]
Stockholder notes		800,534	$ 3,014,534
Parilis Series A repurchase notes
Short-term Debt [Line Items]
Stockholder notes		2,275,818
Restricted stock repurchase notes
Short-term Debt [Line Items]
Stockholder notes		1,097,750	$ 1,097,750
Common stock repurchase note
Short-term Debt [Line Items]
Stockholder notes		2,812,500	$ 2,812,500
Convertible note
Short-term Debt [Line Items]
Stockholder notes		2,000,000
Working capital notes
Short-term Debt [Line Items]
Stockholder notes		$ 7,227,594	$ 3,700,000

Stockholder Notes (Detail Textuals) - USD ($)	1 Months Ended			12 Months Ended
Stockholder Notes (Detail Textuals) - USD ($)	Dec. 31, 2014	Oct. 31, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Short-term Debt [Line Items]
Notes Issued					$ 4,410,250
Repurchase of restricted stock in exchange for notes payable					(1,097,750)
Interest expense related to the stockholder notes				$ 1,869,113	541,914
Series A repurchase notes
Short-term Debt [Line Items]
Notes interest rate			4.00%
Increase in interest rate			6.00%
Principal payments of notes				2,050,000
Series A repurchase notes \| Investors
Short-term Debt [Line Items]
Notes Issued			$ 3,364,534
Notes offset against advances				100,000
Series A repurchase notes \| CEO
Short-term Debt [Line Items]
Notes offset against advances				$ 64,000	350,000
Parilis Series A repurchase notes \| Investors
Short-term Debt [Line Items]
Notes Issued		$ 2,761,818
Notes interest rate				4.00%
Principal payments of notes				$ 486,000
Number of unit repurchase		1,215
Preferred stock price per units		$ 2,000
Cumulative unpaid dividends		$ 331,818
Restricted stock repurchase notes
Short-term Debt [Line Items]
Repurchase of restricted stock in exchange for notes payable			$ 1,097,750
Restricted stock repurchase notes \| Minimum
Short-term Debt [Line Items]
Notes interest rate			0.00%
Restricted stock repurchase notes \| Maximum
Short-term Debt [Line Items]
Notes interest rate			4.00%
Common stock repurchase note
Short-term Debt [Line Items]
Notes interest rate	12.00%	12.00%
Principal payments of notes			$ 500,000
Repurchase of restricted stock in exchange for notes payable	$ 2,000,000	$ 2,000,000	$ 3,312,500
Repurchase of restricted stock in exchange for notes payable (in shares)			960,144
Conversion price	$ 20.70	$ 20.70
Working capital notes
Short-term Debt [Line Items]
Principal payments of notes				3,352,658	2,625,000
Amount borrowed				$ 6,880,252	$ 6,000,000
Weighted-average interest rate				14.50%
Note collateralized by common shares				$ 300,000
Working capital notes \| Minimum
Short-term Debt [Line Items]
Notes interest rate				0.00%
Working capital notes \| Maximum
Short-term Debt [Line Items]
Notes interest rate				24.00%

Debt (Details) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Debt Disclosure [Abstract]
Term loans-Bank		$ 3,404,759	$ 3,935,574
Equipment loans		334,093	528,876
Unamortized debt discount		(73,442)	(85,706)
Long-term Debt		3,665,410	4,378,744
Less current portion	$ 760,013	742,646	725,706
Long-term debt, excluding current portion	$ 2,547,139	$ 2,922,764	$ 3,653,038

Debt (Details 1)	Sep. 30, 2015 USD ($)
Debt Disclosure [Abstract]
2016	$ 742,646
2017	717,794
2018	637,479
2019	509,864
2020	523,062
Thereafter	608,007
Long Term Debt	$ 3,738,852

Debt (Detail Textuals) - USD ($)	12 Months Ended
Debt (Detail Textuals) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Term of loans	7-10 years
Monthly payments of principal and interest	$ 62,654
Interest expense	$ 287,280	$ 276,496
Laboratory equipment
Debt Instrument [Line Items]
Term of loans	1-5 years
Monthly payments of principal and interest	$ 26,539
Laboratory equipment \| Maximum
Debt Instrument [Line Items]
Interest rate	18.00%
Laboratory equipment \| Minimum
Debt Instrument [Line Items]
Interest rate	11.00%
CEO
Debt Instrument [Line Items]
Certificate of deposit	$ 200,000
Prime rate
Debt Instrument [Line Items]
Interest rate	2.75%

Commitments (Details)	Sep. 30, 2015 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2016	$ 888,710
2017	865,763
2018	865,763
2019	876,323
2020	887,045
Thereafter	643,749
Total	$ 5,027,353

Commitments (Detail Textuals) - USD ($)	12 Months Ended
Commitments (Detail Textuals) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Commitments [Line Items]
Rent expense	$ 720,875	$ 581,464
Percentage of employees contribution in defined contribution plan	100.00%
Percentage of employer contribution in defined contribution plan, of the first 3% of employee contributions	100.00%
Expense relating to the matching contribution	$ 131,385	$ 83,969
Technology License
Commitments [Line Items]
Milestone payments	$ 375,000

Redeemable Preferred Stock, Common Stock, Noncontrolling Interests and Stockholders' Equity (Deficit) (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Oct. 31, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Stockholders Equity [Line Items]
Participating preferred stock shares sold					1,739,130		1,739,130	1,739,130
Stock issued during period, value					$ 16,137,913		$ 44,142,463
Accrued interest							353,728
Value of repurchase of shares								$ (3,312,500)
Cumulative dividends								3,336,855
Deemed dividend upon repurchase of Series A redeemable preferred stock in excess of carrying value						$ 1,215,000	(1,298,631)	(3,336,855)
Deemed dividends			$ 67,633			$ 1,298,631	1,298,631	$ 3,336,855
Sonnet
Stockholders Equity [Line Items]
Promissory note amount					$ 826,561
Interest rate					3.00%
Carring amount of promisorry note					$ 33,396
Accrued interest					$ 9,791
Series A preferred stock
Stockholders Equity [Line Items]
Series A converted in to common stock					1,969,818
Allocation of preferred stock on initial carrying value basis							$ 5,920,000
Cumulative dividends, annual rate per share							$ 2,000
Repurchase of shares		3,314
Settlement of accrued dividends on preferred stock		$ 864,534
Value of repurchase of shares		$ 6,628,000
Stock repurchased, price per share		$ 2,000
Stock repurchased value paid in cash		$ 4,128,000
Stock repurchased value paid by issuance of notes payable		2,500,000
Cumulative dividends							$ 29,370
Notes payable issued for accrued dividends		864,534
Deemed dividend upon repurchase of Series A redeemable preferred stock in excess of carrying value		3,336,855					83,631
Total consideration paid in excess of carrying value of preferred stock		7,492,534					226,000
Excess of carrying value of the Series A preferred stock		$ 4,155,679					142,370
Series B preferred stock
Stockholders Equity [Line Items]
Additional preferred stock issued								400
Allocation of preferred stock on initial carrying value basis							$ 2,280,000
Redeemable Preferred Stock
Stockholders Equity [Line Items]
Common stock issued upon redemption of preferred stock							289
Allocation of preferred stock shares on fair value basis							$ 10,995,000
Cumulative dividends, annual rate per share							$ 100
Increased dividend rate for payment of cumulative dividends							$ 120
Preferred Units \| Parilis
Stockholders Equity [Line Items]
Repurchase of shares				1,215
Value of repurchase of shares				$ 2,761,818
Stock repurchased, price per share				$ 2,000
Preferred stock unpaid dividends				$ 331,818
Deemed dividends				1,215,000
Total consideration paid in excess of the carrying value of the redeemable noncontrolling interest				$ 1,546,818
Common stock
Stockholders Equity [Line Items]
Shares issued during period					573,788		1,765,511
Shares issued, price per share					$ 29.05		$ 25.79
Stock issued during period, value	$ 4,280,149				$ 5,734		$ 44,142,463
Common stock, voting rights							one vote
Repurchase of shares		960,144						(960,144)
Stock repurchased, price per share		$ 3.45
Common stock \| Redeemable Preferred Stock, Common Stock and Noncontrolling Interests
Stockholders Equity [Line Items]
Shares issued during period								1,739,130
Stock issued during period, value								$ 10,895,000
Common stock \| Redeemable Common Stock
Stockholders Equity [Line Items]
Stock issuance costs								$ 105,000
Common stock \| Redeemable Common Stock \| Investor One
Stockholders Equity [Line Items]
Shares issued during period								1,159,420
Shares issued, price per share								$ 6.04
Common stock redemption price per share								$ 12.08
Common stock \| Redeemable Common Stock \| Investor Two
Stockholders Equity [Line Items]
Shares issued during period								579,710
Shares issued, price per share								$ 6.90
Common stock redemption price per share								$ 13.80
Common stock \| Series A preferred stock
Stockholders Equity [Line Items]
Common stock issued upon redemption of preferred stock								289
Common stock \| Series B preferred stock
Stockholders Equity [Line Items]
Sale of stock, number of shares issued								1,119,565
Common stock issued upon redemption of preferred stock								289
Preferred Stock \| Series A preferred stock \| Redeemable Preferred Stock, Common Stock and Noncontrolling Interests
Stockholders Equity [Line Items]
Participating preferred stock shares sold								6,995
Repurchase of Series A redeemable preferred stock and deemed dividends (in shares)							113	3,314
Preferred Stock \| Series B preferred stock \| Redeemable Preferred Stock, Common Stock and Noncontrolling Interests
Stockholders Equity [Line Items]
Participating preferred stock shares sold								3,600

Stock Based Compensation (Details) - 2015 Equity Incentive Plan - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ (4,446,489)	$ 7,030,106	$ (1,956,455)	$ 7,175,780	$ 11,177,858	$ 3,958,480
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	(3,281,214)	3,650,718	(1,924,806)	3,734,993	5,817,830	671,745
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ (1,165,275)	$ 3,379,388	$ (31,649)	$ 3,440,787	$ 5,360,028	$ 3,286,735

Stock Based Compensation (Details 1) - 2015 Equity Incentive Plan - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ (4,446,489)	$ 7,030,106	$ (1,956,455)	$ 7,175,780	$ 11,177,858	$ 3,958,480
Equity-classified compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ (4,446,489)	2,231	(4,348,317)	4,462	8,925	2,764,878
Liability-classified compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 7,027,875	$ 2,391,862	$ 7,171,318	$ 11,168,933	$ 1,193,602

Stock Based Compensation (Details 2) - $ / shares	6 Months Ended	12 Months Ended
Stock Based Compensation (Details 2) - $ / shares	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance			31,304
Ending balance
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance			$ 3.45
Ending balance
Performance-based stock units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance	687,013	658,498
Issued in exchange for restricted shares and stock options			711,430
Additional issuances			16,864
Grants		39,988
Forfeitures	(4,346)	(11,473)	(69,796)
Exchanged for restricted stock units	(434,780)
Ending balance	247,887	687,013	658,498
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance	$ 3.45
Exchanged for restricted stock units	3.45
Ending balance	$ 6.33	$ 3.45

Stock Based Compensation (Details 3) - $ / shares	6 Months Ended	12 Months Ended
Stock Based Compensation (Details 3) - $ / shares	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance			31,304
Vested			(32,463)
Ending balance
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance			$ 3.45
Ending balance
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance
Granted	674,890
Vested	(391,303)
Forfeitures	154
Ending balance	1,066,039
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance		$ 0.69	$ 1.04
Granted	$ 29.05		5.55
Vested		0.69	0.69
Issued in connection with PSU exchange	29.05		1.38
Repurchased for stockholder notes			1.35
Forfeitures	29.05	$ 0.69	0.69
Ending balance	$ 29.05		$ 0.69
Employee \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance		29,565	657,681
Granted		0	90,869
Vested		(29,565)	(29,565)
Issued in connection with PSU exchange			(573,478)
Repurchased for stockholder notes			(115,942)
Ending balance			29,565
Non Employee \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance		2,898	555,217
Granted
Vested		(2,898)	(2,898)
Issued in connection with PSU exchange			(28,986)
Repurchased for stockholder notes			(520,435)
Ending balance			2,898

Stock-Based Compensation (Details 4)	12 Months Ended
Stock-Based Compensation (Details 4)	Sep. 30, 2014 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance \| shares	31,304
Exchange for PSUs \| shares	(31,304)
Ending balance \| shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning balance \| $ / shares	$ 3.45
Exchange for PSUs \| $ / shares	$ 3.45
Ending balance \| $ / shares

Stock Based Compensation (Detail Textuals) - shares	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding	0	9,436,294	7,670,783
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding	247,887
2011 Equity Incentive Plan \| Officers, Employees, Consultants and Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved for issuance	1,159,420	1,159,420

Stock Based Compensation (Detail Textuals 1) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
Stock Based Compensation (Detail Textuals 1) - USD ($)	Jun. 30, 2014	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized expense			$ 1,730,791
Additional stock-based compensation as result of modification		$ 98,172	792,601
Increase in accumulated deficit			$ 364,187
Common Stock, Shares, Outstanding		0	9,436,294	7,670,783
Repurchase of restricted stock in exchange for notes payable				$ (1,097,750)
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of restricted stock in exchange for notes payable (in shares)				(636,376)
Common Stock, Shares, Outstanding		12,427,164	0
Repurchase of restricted stock in exchange for notes payable				$ (148,000)
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized expense			$ 21,100,000
Restricted stock units \| After third anniversay
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%	50.00%
Restricted stock units \| Fourth anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			50.00%
Performance-based stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exchanged for restricted stock units		434,780
Unamortized expense		$ 300,000
Issued in exchange for restricted shares and stock options				711,430
Performance-based stock units \| After third anniversay
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%	50.00%
Performance-based stock units \| Fourth anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%	50.00%
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock exchanged	31,304
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock exchanged	602,464
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares, Outstanding		1,066,039
Number of shares avaiable for grant		180,338
2015 Equity Incentive Plan \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares can be issued		1,246,377

Stock Based Compensation (Detail Textuals 2) - USD ($)	6 Months Ended	12 Months Ended
Stock Based Compensation (Detail Textuals 2) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional stock-based compensation as result of modification	$ 98,172	$ 792,601
Unamortized expense		$ 1,730,791
Number of shares vested in period			32,463
Number of shares for income tax withholdings			2,831
Performance-based stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of PSUs	10 years	10 years
Condition for early excercise of stock based performance units	excess of $400 million	excess of $400 million
Method used for cost of award	Monte Carlo simulation model	Monte Carlo simulation model
Number of PSU exchanged for RSU	434,780
Unamortized expense	$ 300,000
Share Price		$ 3.45
Performance-based stock units \| After third anniversary from issuance of stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%	50.00%
Performance-based stock units \| Fourth anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%	50.00%
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSU issued in connection with PSU	391,303
Unamortized expense		$ 21,100,000
Number of shares vested in period	391,303
Restricted stock units \| After third anniversary from issuance of stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%	50.00%
Number of shares vested in period	130,434
Restricted stock units \| Fourth anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%

Stock Based Compensation (Detail Textuals 3) - USD ($)	6 Months Ended	12 Months Ended
Stock Based Compensation (Detail Textuals 3) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested in period			32,463
Unamortized expense		$ 1,730,791
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested in period	391,303
Unamortized expense		$ 21,100,000
Restricted stock units \| IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested in period	387,868
Remaining number of shares vested in period	678,171
Restricted stock units \| Vesting on each of first and second anniversaries of recipient's grant date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested in period	525,999
Vesting percentage	50.00%
Restricted stock units \| One-third vesting on each of first, second, and third anniversaries of recipient's hire date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested in period	21,738
Description of vesting percentage	one-third vesting
Restricted stock units \| Vesting on each of third and fourth anniversaries of recipient's hire date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested in period	130,434
Vesting percentage	50.00%	50.00%

Collaboration Arrangements (Detail Textuals) - USD ($)	1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
Collaboration Arrangements (Detail Textuals) - USD ($)	Jun. 30, 2014	Aug. 31, 2013	May 31, 2013	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenues				$ 994,894	$ 494,894	$ 1,989,788	$ 3,429,449	$ 5,219,237	$ 9,050,542
Strategic license and collaboration arrangement \| Zhejiang Huahai Pharmaceutical Co., Ltd ("Huahai")
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amount received in upfront payments and non-substantive milestone			$ 7,500,000
Amount received in substantive milestones			$ 8,500,000
Recognized deferred revenue								1,175,580	1,076,979
Recognized substantive milestone payments Received								2,000,000	6,500,000
Deferred revenues								4,928,530	6,104,110
Strategic license and collaboration arrangement \| IPCA Laboratories Limited
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenues								800,000	750,000
License and Collaboration Agreement \| IPCA Laboratories Limited
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amount received in upfront payments and non-substantive milestone		$ 2,400,000
Amount received in substantive milestones		$ 1,000,000
Recognized deferred revenue								402,377	189,472
Recognized substantive milestone payments Received								500,000	500,000
Deferred revenues								1,792,362	994,739
Strategic License Agreement \| Laboratorios Liomont, S.A
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amount received in upfront payments and non-substantive milestone	$ 1,500,000
Amount received in substantive milestones	3,500,000
Recognized deferred revenue								341,280	34,091
Deferred revenues								$ 1,624,629	$ 715,909
Amount received in non substantive milestone payments	$ 500,000

Related Party Transactions (Detail Textuals)	1 Months Ended		6 Months Ended	12 Months Ended
Related Party Transactions (Detail Textuals)	Mar. 31, 2015 USD ($)	Jun. 30, 2014 USD ($) shares	Mar. 31, 2016 USD ($)	Sep. 30, 2015 USD ($) Director shares	Sep. 30, 2014 USD ($) shares
Related Party Transaction [Line Items]
Loan from director			$ 783,374
Accrued interest				$ 353,728
Issuance of stockholder notes					$ 4,410,250
CEO
Related Party Transaction [Line Items]
Non interest bearing advances				783,707	666,110
Repayment of advances				395,257	$ 550,000
Accrued compensation payments				$ 117,506
Director
Related Party Transaction [Line Items]
Loan from director	$ 1,000,000
Interest rate	24.00%			4.00%
Accrued interest	$ 128,219
Number of directors \| Director				3
Cash payments				$ 650,000
Issuance of stockholder notes				$ 1,850,000
Percentage of increase in interest rate				6.00%
Director \| Series A redeemable preferred stock
Related Party Transaction [Line Items]
Repurchase of shares \| shares				1,250	1,250
Accrued dividends				$ 326,354	$ 326,354
Director \| Restricted stock units
Related Party Transaction [Line Items]
Interest rate		0.00%
Repurchased for stockholder notes \| shares		115,942
Amount of stockholder notes repurchased		$ 200,000

Income Taxes (Details) - USD ($)	12 Months Ended
Income Taxes (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
State tax, including sale of New Jersey losses and credits	$ (725,969)	$ (833,403)
Foreign tax provision	535,858	1,272,421
Total	$ (190,111)	$ 439,018

Income Taxes (Details 1)	12 Months Ended
Income Taxes (Details 1)	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	(34.00%)	(34.00%)
State taxes, net of federal benefit	(5.50%)	(5.10%)
Foreign withholding tax	1.10%	9.60%
Permanent differences	1.80%	2.70%
Foreign tax credits	(1.10%)	(9.60%)
Research and development credit	(6.90%)	(11.70%)
Change in valuation allowance	44.60%	51.10%
Other	(0.40%)	0.30%
Effective income tax rate	(0.40%)	3.30%

Income Taxes (Details 2) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Current and long term deferred tax assets:
Net operating loss carryforwards	$ 20,164,392	$ 7,340,745
Stock compensation	6,317,492	1,853,056
Deferred revenue	3,333,201	3,121,214
Research and development credit carryforward	5,979,964	2,680,441
Foreign tax credits	2,602,949	2,067,091
Accruals and others	1,072,422	1,040,117
Gross deferred tax assets	(39,470,420)	(18,102,664)
Less valuation allowance	(38,694,795)	(17,400,409)
Net deferred tax assets	775,625	702,255
Deferred tax liability:
Fixed assets	$ (775,625)	$ (702,255)
Net deferred tax assets

Income Taxes (Details 3) - USD ($)	12 Months Ended
Income Taxes (Details 3) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 1,564,411	$ 479,490
Additions based on tax positions related to the current year	190,218	1,084,921
Balance at end of year	$ 1,754,629	$ 1,564,411

Income Taxes (Detail Textuals) - USD ($)	12 Months Ended
Income Taxes (Detail Textuals) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Operating Loss Carryforwards [Line Items]
Foreign withholding taxes	$ 535,858	$ 1,272,421
Research and development tax credit carryforwards	5,979,964	2,680,441
Foreign tax credit carryforwards	2,602,949	2,067,091
New Jersey
Operating Loss Carryforwards [Line Items]
Receive cash from sale of net operating losses	728,218	$ 835,153
Net operating losses	36,900,000
Federal
Operating Loss Carryforwards [Line Items]
Net operating losses	52,900,000
Research and development tax credit carryforwards	4,200,000
Foreign tax credit carryforwards	2,600,000
Foreign tax credit carryforward included in unrecognized tax benefit	1,800,000
State
Operating Loss Carryforwards [Line Items]
Research and development tax credit carryforwards	$ 1,700,000

Subsequent Events (Detail Textuals) - $ / shares	May 18, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event [Line Items]
Common stock, shares authorized		0	100,000,000	100,000,000
Preferred stock, shares authorized		10,000,000	0
Preferred stock, par value per share		$ 0.01	$ 0.01
Subsequent event
Subsequent Event [Line Items]
Common stock, shares authorized	200,000,000
Common stock, par value per share	$ 0.01
Preferred stock, shares authorized	10,000,000
Preferred stock, par value per share	$ 0.01
Number of common stock called by warrants	1,520,269
Exercise price per share	$ 0.01
Increase in exercise price per share	$ 1.00