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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2015	May 12, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	PIRS
Entity Registrant Name	PIERIS PHARMACEUTICALS, INC.
Entity Central Index Key	0001583648
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		29,429,522

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 13,167,036	$ 18,474,211
Other current assets	1,275,714	1,207,072
Prepaid expenses	507,390	109,332
Income tax receivable	15,232	14,810
Total current assets	14,965,372	19,805,425
Property and equipment, net	1,785,789	2,052,221
Deferred tax asset	23,541	26,522
Total assets	16,774,702	21,884,168
Current liabilities:
Trade accounts payable	1,539,706	1,260,015
Accrued expenses	413,395	743,866
Other current liabilities	274,255	242,755
Bank loan, including accrued interest		1,270,605
Deferred tax liabilities	23,541	26,522
Total current liabilities	2,250,897	3,543,763
Accrued expenses, non-current	296,452	333,988
Total liabilities	2,547,349	3,877,751
Stockholders' equity
Common stock, $0.001 par value per share, 300,000,000 shares authorized and 29,429,522 and 29,279,522 issued and outstanding at March 31, 2015 and December 31, 2014	29,430	29,280
Additional paid-in capital	85,155,534	84,627,283
Accumulated other comprehensive loss	(1,445,829)	(843,097)
Accumulated deficit	(69,511,782)	(65,807,048)
Total stockholders' equity	14,227,353	18,006,417
Total liabilities and stockholders' equity	$ 16,774,702	$ 21,884,168

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	29,429,522	29,279,522
Common stock, outstanding	29,429,522	29,279,522

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Revenue	$ 217,621	$ 1,372,879
Operating costs and expenses
Research and development	(1,524,631)	(1,222,745)
General and administrative	(2,394,323)	(821,351)
Costs and expenses	(3,918,954)	(2,044,096)
Loss from operations	(3,701,333)	(671,217)
Other income (expense)
Interest expense	(4,170)	(109,289)
Other income, net	769	583
Loss before income taxes	(3,704,734)	(779,923)
Income tax benefit		18
Net loss	$ (3,704,734)	$ (779,905)
Net loss per share Basic and diluted	$ (0.13)	$ (0.07)
Weighted average number of common shares outstanding Basic and diluted	29,292,855	11,828,974

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (3,704,734)	$ (779,905)
Other comprehensive loss
Foreign currency translation adjustments	(602,732)	(3,627)
Total other comprehensive loss, after tax	(602,732)	(3,627)
Comprehensive loss	$ (4,307,466)	$ (783,532)

- Definition

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

+ References + Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	$ (3,704,734)	$ (779,905)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	78,117	95,549
Non-cash interest expense		82,230
Stock-based compensation	217,335
Non-cash Restricted shares	311,066
Other	(127,482)
Changes in operating assets and liabilities:
Restricted cash		911
Trade accounts receivable		479,677
Prepaid expenses	(408,218)	(46,627)
Other assets	(317,073)	(260,096)
Trade accounts payable	440,649	370,122
Accrued and other liabilities	(208,047)	(410,902)
Income taxes	(2,184)	50,564
Net cash used in operations	(3,720,571)	(418,477)
Cash flows from investing activities:
Purchase of property and equipment	(40,648)	(1,768)
Net cash used in investing activities	(40,648)	(1,768)
Cash flows from financing activities:
Repayment of debt	(1,000,323)
Net cash used in financing activities	(1,000,323)
Effect of exchange rate change on cash and cash equivalents	(545,633)	742
Net decrease in cash and cash equivalents	(5,307,175)	(419,503)
Cash and cash equivalents at beginning of period	18,474,211	3,689,382
Cash and cash equivalents at end of period	13,167,036	3,269,879
Supplemental cash flow disclosures:
Cash paid for interest	4,224	27,059
Cash received for income taxes	$ (422)	$ (18)

Corporate Information

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Corporate Information

1.	Corporate Information

Pieris Pharmaceuticals, Inc. is a holding company incorporated in May 2013 under the name Marika Inc. On December 17, 2014 Pieris AG (a German company which was founded in 2001 by Prof. Dr. Arne Skerra, Professor at the Technical University of Munich, Germany, and Claus Schalper) became a wholly owned subsidiary of Pieris Pharmaceuticals, Inc., pursuant the Acquisition (described below). The registered office of Pieris Pharmaceuticals, Inc. and the corporate headquarters and research facility of Pieris AG are located in Freising-Weihenstephan, Germany. Pieris Australia Pty Ltd., a wholly owned subsidiary of Pieris AG, was formed on February 14, 2014 to conduct research and development in Australia.

On December 17, 2014, Pieris Pharmaceuticals, Inc., Pieris AG, and the former stockholders of Pieris AG entered into an acquisition agreement, or the Acquisition Agreement. Pursuant to the Acquisition Agreement, on December 17, 2014, the stockholders of Pieris AG contributed all of their equity interests in Pieris AG to Pieris Pharmaceuticals, Inc. in exchange for shares of Pieris Pharmaceuticals, Inc. common stock, which resulted in Pieris AG becoming a wholly owned subsidiary of Pieris Pharmaceuticals, Inc. (the “Acquisition”). Upon the closing of the Acquisition, Pieris Pharmaceuticals, Inc. ceased to be a “shell company” under applicable rules of the SEC. For more information on the acquisition, please refer to Note 3 Acquisition of the consolidated financial statements as of December 31, 2014 included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014.

On December 17, 2014, Pieris Pharmaceuticals, Inc. entered into a securities purchase agreement, or the Securities Purchase Agreement, with certain accredited investors (the “Investors”) providing for the issuance and sale to such Investors of an aggregate of 6,779,510 shares of our common stock in a private placement offering conducted through a series of closings occurring on December 17, 18 and 23, 2014, at a purchase price per share of $2.00 and for aggregate gross proceeds of approximately $13.56 million (the “Private Placement”). Northland Securities, Inc. and Katalyst Securities, LLC served as co-exclusive placement agents (the “Placement Agents”) for the Private Placement. At the closings of the Private Placement we issued to the Placement Agents and their designees, warrants (the “Placement Warrants”), to acquire up to 542,360 shares of our common stock at an exercise price of $2.00 per share. Each of the Placement Warrants is exercisable at any time at the option of the holder until the five-year anniversary of its date of issuance.

Pieris Pharmaceuticals, Inc. and its consolidated subsidiaries (the “Company”) is a clinical-stage biopharmaceutical company dedicated to the discovery and development of the Anticalin^® class of biotherapeutics for patients with diseases in which the Company believes there is high unmet medical need.

The Company´s core Anticalin^® technology and platform was developed in Germany, and the Company has partnership arrangements with major multi-national pharmaceutical companies headquartered in the U.S., Europe and Japan and with regional pharmaceutical companies headquartered in India.

Basis of Presentation and Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

2.	Basis of Presentation and Summary of Significant Accounting Policies

The following is a summary of the significant accounting policies consistently applied in the preparation of the accompanying condensed consolidated financial statements.

Basis of Consolidation

The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. All significant intercompany balances and transactions have been eliminated in the consolidation. Certain information and footnotes normally included in financial statement prepared in accordance with U.S. GAAP have been omitted pursuant to the Securities and Exchange Commission rules and regulations. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete annual consolidated financial statements.

In the opinion of management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and all adjustments, including normal recurring adjustments, considered necessary for a fair presentation of Pieris Pharmaceuticals, Inc.’s unaudited interim consolidated financial statements have been included. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or any future period.

Use of estimates

The preparation of the condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses in the financial statements and disclosures in the accompanying notes. Actual results and outcomes could differ materially from management´s estimates, judgments and assumptions.

Segment Reporting

Pieris Pharmaceuticals, Inc. operates as a single segment dedicated to the discovery and development of biotechnological applications and the Company’s chief operating decision maker (CODM) makes decisions based on the Company as a whole. Accordingly, Pieris Pharmaceuticals, Inc. operates and makes decisions as one reporting unit.

Milestone Payments and Royalties

At the inception of each agreement that includes milestone payments, Pieris Pharmaceuticals, Inc. evaluates whether each milestone is substantive and at risk to both parties on the basis of the contingent nature of the milestone. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. Pieris Pharmaceuticals, Inc. evaluates factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required to achieve the respective milestone and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment.

Pieris Pharmaceuticals, Inc. aggregates milestones into three categories (i) research milestones, (ii) development milestones and (iii) commercial milestones. Research milestones are typically achieved upon reaching certain success criteria as defined in each agreement related to developing an Anticalin protein against the specified target. Development milestones are typically reached when a compound reaches a defined phase of clinical research or passes such phase, or upon gaining regulatory approvals. Commercial milestones are typically achieved when an approved pharmaceutical product reaches the status for commercial sale or certain defined levels of net sales by the licensee, such as when a product first achieves global sales or annual sales of a specified amount.

For revenues from research and development milestone payments, if the milestones are deemed substantive and the milestone payments are nonrefundable, such amounts are recognized entirely upon successful accomplishment of the milestones. Milestones that are not considered substantive are accounted for as license payments and recognized on a straight-line basis over the period of performance. To date, Pieris Pharmaceuticals, Inc. has determined all milestones are substantive. Revenues from commercial milestone payments are accounted for as royalties and are recorded as revenue upon achievement of the milestone, assuming all other revenue recognition criteria are met. Royalty payments are recognized in revenues based on the timing of royalty payments earned in accordance with the agreements; which typically is the period when the relevant sales occur, assuming all other revenue recognition criteria are met.

Fair Value Measurement

ASC Topic 820 Fair Value Measurement defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pieris Pharmaceuticals, Inc. applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement.

Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 utilizes quoted market prices in markets that are not active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency.

Level 3 inputs are unobservable inputs for the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date.

Pieris Pharmaceuticals, Inc.’s cash equivalents consist of highly liquid money market funds and are measured at fair value on a recurring basis. These funds are classified as Level 1 in the fair value hierarchy because they are valued using quoted prices for the periods ended March 31, 2015 and December 31, 2014. The carrying amounts of $471,011 and $ 4,800,573 as of March 31, 2015 and December 31, 2014, respectively, equal the fair value of the cash equivalents.

The Company’s other financial instruments include debt instruments and are classified as Level 2 within the fair value hierarchy. The fair value of these instruments was determined using the discounted cash flow method based on contractual cash flows and the current rate at which debt with similar terms could be issued. The fair values for these debt instruments approximated carrying values as of March 31, 2015 and December 31, 2014.

Income taxes

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, and operating losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted statutory tax rates expected to apply to taxable income in the jurisdictions and 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.

Based on the level of historical operating results and projections for the taxable income for the future, the Company has determined that it is more likely than not that the deferred tax assets will not be realized. Accordingly, the Company has recorded a valuation allowance to reduce deferred tax assets to the same amount as deferred tax liabilities and determines an effective tax rate of zero percent.

Recent Accounting Pronouncements

In January 2015, the FASB issued ASU No. 2015-01, “Income Statement – Extraordinary and Unusual items” (ASU 2015-01). The amendments in ASU 2015-01 eliminate from U.S. GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement - Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The company is currently evaluating the impact of this new standard.

In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (ASU 2015-02). The amendments in ASU 2015-02 are intended to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). This guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December, 15, 2017. The company is currently evaluating the impact of this new standard.

Pieris Pharmaceuticals, Inc. has considered other recent accounting pronouncements and concluded that they are either not applicable to the business, or that the effect is not expected to be material to the unaudited condensed consolidated financial statements as a result of future adoption.

Revenues

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Revenues

3.	Revenues

General

Pieris Pharmaceuticals, Inc. has not generated revenues from product sales. Pieris Pharmaceuticals, Inc. has generated revenues pursuant to (i) license and collaboration agreements, which include upfront payments for licenses or options to obtain licenses, payments for research and development services and milestone payments, and (ii) government grants.

Collaborations and Other Agreements

Allergan, Inc.

In August 2009, pursuant to an agreement with Allergan, Inc. (“Allergan”), the Company granted Allergan a worldwide exclusive license to develop and commercialize certain drug candidates for the treatment and prevention of ocular diseases. Allergan is responsible for the research, development, manufacturing and commercialization of any products resulting from the license. The Company received a non-refundable upfront payment of $10 million upon execution of the contract in 2009 and is entitled to receive up to an aggregate of $13 million in milestone payments upon the achievement of certain commercial milestones or patents granted to the Company by the United States Patent and Trademark Office that cover a product licensed to Allergan.

At the inception of the agreement, the Company recognized revenues from the upfront license payment because, based on the stage of development of the licensed product delivered and the development capabilities of Allergan, the Company determined that the license had standalone value. Through March 31, 2015, none of the milestones had been achieved and, as such, the Company has not recognized milestone-related revenues.

Daiichi Sankyo Co., Ltd.

In May 2011, the Company entered into an agreement with Daiichi Sankyo Co., Ltd. (“Daiichi Sankyo”), under which Pieris AG will use its proprietary Anticalin^® scaffold technology to identify drug candidates against certain targets selected by Daiichi Sankyo, with further development and commercialization performed by Daiichi Sankyo. For any targets selected by Daiichi Sankyo, the Company granted an exclusive, worldwide license for the research, development and commercialization of drug candidates identified by the Company. The Company has handed over further development responsibility for the two collaboration projects to Daiichi Sankyo, which handovers occurred in March 2013 and June 2014.

Upon execution of the agreement, Daiichi Sankyo paid the Company a non-refundable upfront payment in the amount of $10.1 million in consideration for the licenses, and for each licensed product, the Company is entitled to receive potential milestone payments of $87.6 million, plus royalties on the commercial sales of any commercial products. The total milestones are categorized as follows: research milestones - $2.5 million; development milestones - $36.0 million; commercial milestones - $48.3 million; additional diagnostic milestones of $0.7 million. At the inception of the agreement, these milestones were determined to be substantive as there was substantial uncertainty the milestones would be achieved, they would require substantial performance from the entity, and the consideration was reasonable relative to other deliverables. The agreement includes provisions for the Company to provide research services funded by Daiichi Sankyo at agreed upon full-time employee rates during the initial identification and research period.

In accordance with the guidance in ASC 605-25, the Company identified the licenses and research funding as deliverables at the inception of the arrangement. The Company has determined that the licenses and research services provided by the Company represent one unit of accounting because, based on the stage of development of the licensed product, the research services provided by the Company to identify drug candidates using the Company’s proprietary Anticalin^® technology against Daiichi Sankyo’s selected targets were necessary before the licenses would have any standalone value. Therefore, the total arrangement consideration was recognized over the estimated period of substantial involvement, which was determined to be the period during the Company was required to provide research services to discover drug candidates against targets identified. The Company estimated this period would be approximately two years. The Company reassesses the estimated term at the end of each reporting period.

The Company has not recognized any milestone payments as revenue for the three months ended March 31, 2015 and 2014 respectively. In general, milestones could not be achieved solely upon the passage of time. For revenue recognition purposes, management determined these milestones to be substantive in accordance with applicable accounting guidance related to milestone revenue. Substantive uncertainty existed at the inception of the arrangement as to whether the milestones would be achieved because of the numerous variables, such as the high rate of failure inherent in research and development activities and the uncertainty involved with obtaining regulatory approval. For the three months ended March 31, 2015, the Company did not recognized any revenues related to the Daiichi Sankyo Collaboration and for the three months ended March 31, 2014, the Company recognized $0.7 million in revenues. None of the revenue was related to the achievement of milestones.

Sanofi-Aventis and Sanofi-Pasteur

In September 2010, the Company entered into an agreement with Sanofi-Aventis and Sanofi Pasteur (“Sanofi”), under which the Company agreed to apply its proprietary Anticalin^® technology to identify drug candidates against certain targets selected by Sanofi, with further development and commercialization performed by Sanofi. The agreement included the initial identification of two targets by Sanofi, with options to select up to four additional targets. For any targets selected by Sanofi, the Company granted an exclusive, worldwide license for the research, development and commercialization of drug candidates identified by the Company. In addition to the two initial targets selected by Sanofi, Sanofi exercised one of the four options and received a license. The remaining three options expired unexercised.

Upon execution of the agreement, Sanofi paid the Company an upfront payment of $4.9 million in consideration for licenses on the first two targets and options to select an additional four licenses on other targets (with each option requiring an additional upfront payment upon exercise). Additionally, for each licensed product, the Company is entitled to receive milestone payments up to $49.6 million, plus royalties on the sales of any commercial products. The total milestones are categorized as follows: research milestones - $1.8 million; development milestones - $28.5 million; commercial milestones - $19.3 million. At the inception of the agreement, these milestones were determined to be substantive because (i) there was substantial uncertainty the milestones would be achieved, (ii) they would require substantial performance from the entity, and (iii) the consideration was reasonable relative to other deliverables. The agreement included provisions for the Company to provide research services funded by Sanofi at agreed upon full-time employee equivalent rates during the initial identification and research period.

In accordance with the guidance in ASC 605-25, the Company identified the licenses, options to obtain additional licenses and research funding as deliverables at the inception of the arrangement. The options were considered to be substantive at the inception of the agreement. Factors considered in determining the options were substantive were whether (i) Sanofi could obtain the overall objective of the agreement without exercising any options, (ii) Sanofi was able to obtain value from the initial licenses obtained without exercising any options, (iii) the cost to exercise the options was significant relative to the total upfront payment of $4.9 million for two licenses and four options, and (iv) exercising the option created additional financial commitments for Sanofi or imposed economic penalties on Sanofi.

The Company has determined that, for each program selected by Sanofi, the license and research services provided by the Company represent one unit of accounting because, based on the stage of development of the licensed product, the research services provided by the Company to identify drug candidates using the Company’s proprietary Anticalin technology against Sanofi’s selected targets were necessary before the licenses would have any standalone value.

The estimated selling prices for the licenses in the agreement are the Company’s best estimate of selling price and were determined based on market conditions and entity-specific factors such as considerations of preclinical and clinical testing results and the Company’s pricing practices and pricing objectives. The estimated selling price of research services are the Company’s best estimate of selling price and are determined based on market conditions and entity-specific factors such as internal cost considerations and the Company’s pricing practices and pricing objectives.

At inception, the total arrangement consideration of $8.1 million (which comprises the $4.9 million upfront payment and the expected fees for the research services to be provided under the remainder of the arrangement) was allocated to the deliverables based on the relative selling price method as follows: $3.5 million to the licenses, $1.4 million to the four options to acquire additional licenses and $3.2 million to the estimated research services to be provided. As the license and research services were determined to be one unit of accounting, the consideration allocated to each license is recognized over the period of substantial involvement, which was determined to be the period during the Company was required to provide research services to discover drug candidates against targets identified, approximately two years. The Company reassesses the estimated term at the end of each reporting period. At the end of 2012, the Company determined that the required research term for one of the initial terms would extend to a period of 40 months, and management updated the estimated required service period to amortize the remaining deferred upfront payment over the new term. Two of the four options expired un-exercised in 2011, and as a result the Company recognized $0.7 million of revenue upon expiration. The option term for the remaining two options was extended to February 2013, and Sanofi exercised one option to obtain an additional license. For the exercised option, the allocated consideration of $0.27 million for the option and the $1.1 million payment of the exercise price of the option were deferred and amortized over the expected required service period of approximately two years. The program covered by the exercised option was terminated in December 2013, and accordingly, the Company recognized the remaining deferred revenue upon termination. The remaining option expired in February 2013 and the allocated consideration of $0.35 million was recognized into revenue at the time of expiration.

The Company has not recognized any milestone payments as revenue for the three months ended March 31, 2015. The Company has recognized a milestone payment of $0.3 million as revenue for the three months ended March 31, 2014. The milestone payment was based on successful in vivo studies. The milestone could not be achieved solely upon the passage of time. For revenue recognition purposes, management determined this milestone to be substantive in accordance with applicable accounting guidance related to milestone revenue. Substantive uncertainty existed at the inception of the arrangement as to whether the milestone would be achieved because of the numerous variables, such as the high rate of failure inherent in research and development activities and the uncertainty involved with obtaining regulatory approval. Therefore, the payment was recognized in its entirety as revenue in the three months ended March 31, 2014 when the research milestone was reached.

For the three months ended March 31, 2015, the Company did not recognized any revenues related to the Sanofi collaboration and for the three months ended March 31, 2014, the Company recognized $0.5 million in revenues, of which $0.3 million related to the achievement of milestones.

Related-Party Transactions

3 Months Ended

Mar. 31, 2015

Related-Party Transactions

4.	Related-Party Transactions

Research and License Agreement with Technische Universität München (“TUM”)

On July 4, 2003, the Company entered into a research and licensing agreement with TUM, which was subsequently renewed and, on July 26, 2007, superseded and replaced. The agreement established a joint research effort led by Prof. Arne Skerra, Chair of Biological Chemistry of TUM, to optimize Anticalin technologies for use in therapeutic, prophylactic and diagnostic applications and as research reagents, and to gain fundamental insights in lipocalin scaffolds. Prof. Dr. Skerra was a member of Pieris AG’s supervisory board when the parties entered into such agreement. The Company provided certain funding for TUM research efforts performed under the agreement.

As a result of research efforts to date under the agreement, the Company holds a worldwide exclusive license under its license agreement with TUM to multiple patents and patent applications, including an exclusive license to an issued U.S. patent, which patent will expire in 2027 (subject to a possible term adjustment period). Pieris AG also holds an exclusive license to an issued U.S. patent No. 8,420,051, which patent is expected to expire in 2029. The Company bears the costs of filing, prosecution and maintenance of patents assigned or licensed to the Company under the agreement.

As consideration for the assigned patents and licenses above, the Company is required to pay certain development milestones to TUM. The Company also is obliged to pay low-single-digit royalties, including annual minimum royalties, on sales of such products incorporating patented technologies. If the Company grants licenses or sublicenses to those patents to third parties, the Company will be obliged to pay a percentage of the resulting revenue to TUM. The Company´s payment obligations are reduced by the Company´s proportionate contribution to a joint invention. Payment obligations terminate on expiration or annulment of the last patent covered by the agreement. The Company can terminate the licenses to any or all licensed patents upon specified advance notice to TUM. TUM may terminate the license provisions of the agreement only for cause. Termination of the agreement does not terminate the rights in patents assigned to the Company.

The Company has incurred the following expenses related to TUM (excluding value added taxes):


	Three months ended March 31,
	2015		2014
Transfer of licenses and protective rights	$	14,057	$	17,131

Total expenses incurred with TUM	$	14,057	$	17,131

The Company has recorded $291,081 and $373,357 as of March 31, 2015 and 2014, respectively, related to the amounts due under the research and license agreement (see Note 9 Commitments and Contingencies).

The part of the agreement requiring the Company to make payments for research conducted by TUM expired in February 2013 with no further obligations by Pieris AG.

Consulting Contract between Prof. Dr. Arne Skerra and Pieris AG

In 2001, the Company entered into a Consulting Agreement with Prof. Dr. Arne Skerra, pursuant to which Prof. Dr. Arne Skerra provides advice regarding the use of new proteins, in particular Anticalin proteins and antibodies, for the purpose of research and development. The Consulting Agreement has an unlimited term but can be terminated by the Company upon three months’ notice with effect from the end of a month and by Prof. Dr. Arne Skerra upon one year’s notice with effect from the end of a year. Under the Consulting Agreement, the Company incurred and paid to Prof. Dr. Skerra consulting fees of $5,623 and $6,853 for the three months ended March 31, 2015 and 2014, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Debt

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Debt

Debt

TBG Loan

As of April 3, 2014, the Company and tbg Technologie-Beteiligungs-Gesellschaft mbH (“TBG”), the subsidiary of KfW Bank, Frankfurt (“KfW”), signed a repayment agreement concerning the Company´s repayment of its liabilities to TBG outstanding at December 31, 2013 in a total amount of €1.2 million ($1.29 million). The principal amount bore interest at a rate of 10.53%. Under the repayment agreement, the Company has agreed to a payment schedule pursuant to which it will make semi-annual payments until 2016. On December 11, 2014, the Company and TBG entered into an accelerated repayment agreement in respect of the claims of TBG against the Company. Pursuant to terms of the accelerated repayment agreement, conditioned upon closing of the Acquisition, the Company was obligated to pay €1,050,000 ($1.13 million), the outstanding amount under the repayment agreement, in two tranches as follows: €600,000 ($644,460) plus accrued interest on January 31, 2015 and €450,000 ($483,345) on March 31, 2015. The outstanding principal amount for the first and the second tranches, net of capital gain tax withheld, was repaid in full in the first quarter ending March 31, 2015 and such next payment was €931,312 ($1,000,323). The capital gain tax withheld in the amount of €118,688 ($127,482) was reported in other current liabilities in the unaudited condensed consolidated balance sheet as of March 31, 2015. The capital gain tax was paid on April 9, 2015 and with that the TBG loan was repaid in full.

Stock-based compensation

3 Months Ended

Mar. 31, 2015

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

Stock-based compensation

6.	Stock-based compensation

In December 2014, the Board of Directors and stockholders of Pieris Pharmaceuticals, Inc. adopted the 2014 Employee, Director and Consultant Equity Incentive Plan (the “Pieris Plan”), which became effective upon closing of the Acquisition. The Pieris Plan is intended to encourage ownership of common stock by the Company´s employees and directors and certain of their consultants, including employees of Pieris AG, in order to attract and retain such people, to induce them to work for the benefit of the Company and to provide additional incentive for them to promote the Company´s success. The Pieris Plan reserves 3,200,000 shares of the Company´s common stock for issuance. In addition, the Pieris Plan provides for an “evergreen” provision whereby the number of shares of the Company´s common stock reserved for issuance under the Pieris Plan shall be automatically increased on January 1 of each of year commencing in fiscal 2016 by the lesser of (i) 1,000,000 shares, (ii) 4% of the number of shares of the Company´s common stock outstanding on such date, and (iii) such other amount determined by the Compensation committee of the Board of Directors. As of March 31, 2015, options to purchase 1,430,000 shares of the Company´s common stock are outstanding under the Pieris Plan to its executive officers and directors, all of which were granted in the fourth quarter of 2014. In addition, options to purchase 1,114,500 shares are outstanding under the Pieris Plan to other employees and consultants. 25,000 of these shares were granted during the first quarter of 2015 and 1,089,500 were granted during the fourth quarter of 2014. As a result of such grants, 655,500 of the Company´s common stock remain available for future issuances under the Pieris Plan.

Stock options granted under the Pieris Plan may be either incentive stock options (“ISOs”), or nonqualified stock options. The Board of Directors determines who will receive options, the vesting periods (which are generally three years) and the exercise prices. Options have a maximum term of ten years. The exercise price of stock options granted under the Pieris Plan must be at least equal to the fair market value of the common stock on the date of grant. The Pieris Plan become effective in December 2014, therefore there was no stock-based compensation expense in the three months ended March 31, 2014.

Total stock-based compensation expense, related to all share-based awards under the Pieris Plan to executive officers, directors, employees and consultants recognized for the three months ended March 31, 2015, was comprised of the following:


	Three months ended March 31, 2015
Research and Development	$	51,038
General and administrative		166,297

Total stock-option expense	$	217,335

The fair value of option grants was estimated using the Black-Scholes model. The following table describes the weighted-average assumptions used for calculating the value of options granted for the three months ended March 31, 2015:


	Three months ended March 31, 2015
Dividend yield		0.0	%
Expected volatility		75.1	%
Weighted average risk-free interest rate		1.66	%
Expected term		5.8 years

A summary of the Company´s stock option activity and related information is as follows:


	Number of shares		Weighted-Average Exercise Price		Weighted-Average Contractual Life
Outstanding at December 31, 2014		2,519,500	$	2.00		5.6-5.8 years
Options granted		25,000	$	2.85		5.8 years
Options exercised		—		—		—
Options canceled or expired		—		—		—
Outstanding at March 31, 2015		2,544,500	$	2.01		5.6-5.8 years
Vested or expected to vest at March 31, 2015		598,396	$	2.00		—
Exercisable at March 31, 2015		598,396	$	2.00		—

The weighted-average grant date fair value for awards granted during the three months ended March 31, 2015 was $46,442. There were no options exercised during the three months ended March 31, 2015 and 2014. 174,646 shares were vested in the three months ended March 31, 2015.

The unrecognized share-based compensation expense related to employee stock option awards at March 31, 2015, is $2,414,729, which will be recognized over a weighted-average service period of 2.75 years. The weighted-average service period of the 25,000 granted during the first quarter of 2015 is 3 years.

Consulting Shares

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Consulting Shares

7.	Consulting Shares

On March 6, 2015, the Company entered into an independent consulting agreement (the “Consulting Agreement”) with the Del Mar Consulting Group, Inc. and Alex Partners, LLC (the “Consultants”), pursuant to which the Company issued 150,000 shares of its common stock (par value $0.01 per share) to the Consultants (the “Consulting Shares”). The Company agreed to retain the Consultants to provide investor relations consulting to the Company for a period commencing on March 6, 2015 (the “Commencement Date”) and ending thirteen months after the Commencement Date (such period, the “Term”). The shares issued in connection with the Consulting Agreement were deemed to be exempt from registration in reliance upon Section 4(a)(2) of the Securities Act as a transaction by an issuer not involving any public offering.

The terms of the Consulting Agreement state, that the Company has the right to terminate this agreement at any time during the Term of the Consulting Agreement, upon providing Consultants ten days´ written notice of Company´s intention to terminate or immediately upon notice in the event of a breach of this agreement by either consultant. If the Company delivers notice to terminate this agreement for any reason within one hundred eighty days (180) following the effective date (the “Return Date”), then each Consultant will promptly return and surrender to the Company forty percent (40%) of the number of Consulting Shares issued to it. Therefore 60,000 of these shares are subject to certain forfeiture provisions within 180 days following the date of entry into the Consulting Agreement.

The Company, using the Black-Scholes method, estimated the fair value of the 90,000 non-cancellable Consulting Shares to be $284,400 based on the closing price per share of $3.16 as quoted on the OTCQB tier of the OTC Markets Group Inc., or the OTCQB, on the grant date, March 6, 2015. The Company estimated the fair value of the 60,000 cancellable Consulting Shares to be $192,000 based on the closing price per share of $3.20 as quoted on the OTCQB on the interim financial reporting date, March 31, 2015. Therefore, the Company estimated the total fair value of the Consulting Shares to be $476,400 and recognized the 90,000 non-cancellable Consulting Shares, or sixty percent (60%) of the Consulting Shares in an amount of $284,400, as general and administrative expense for the three months ended March 31, 2015. The remaining forty percent (40%), or 60,000 Consulting Shares in the amount of $192,000, will be recognized as general and administrative expenses with an offsetting credit to equity either (i) on a straight-line basis over 180 days until the date when the Company´s option to terminate the Consulting Agreement and exercise its option to cancel forty percent (40%) of the Consulting Shares, or (ii) in the event of an earlier termination by the Company, at the applicable termination date. Therefore the Company recognized expenses in connection with the Consulting Shares of $311,067 for the three months ended March 31, 2015 in general and administrative expenses, including $284,400 for the non-cancellable Consulting Shares and $26,667 for the cancellable shares.

Warrants

3 Months Ended

Mar. 31, 2015

Accounting Changes and Error Corrections [Abstract]

Warrants

8.	Warrants

In connection with the Private Placement in December 2014, the Company issued the Placement Warrants to acquire a combined up to 542,360 shares of its common stock at an exercise price of two dollars per share ($2.00) to the Placement Agents and their designees during December 2014. The Placement Warrants are exercisable at any time at the option of the holder until the five year anniversary of its date of issuance. The number of shares of common stock issuable upon the exercise of each Placement Warrant is adjustable in the event of certain stock dividends, stock splits, combinations of shares and similar transactions. Upon exercise, the aggregate exercise price of the warrants issued are payable by the holders in cash.

The Company estimated the fair value of the Placement Warrants as of the grant date to be $664,064 and recognized the full amount in general and administrative expense for the year ended December 31, 2014.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

9.	Commitments and Contingencies

Arbitration

On March 20, 2014, the Company instituted arbitration proceedings, or the TUM Arbitration, against Technische Universität München, or Munich Technical University and hereafter TUM, to address issues regarding the calculation of payments due from the Company to TUM under the Company´s Research and Licensing Agreement with TUM, as amended, or the TUM License Agreement. Pursuant to the terms of the TUM License Agreement, the arbitration is proceeding in Munich, Germany and governed by German law, in accordance with the arbitration rules of the Deutsche Institution für Schiedsgerichtsbarkeit.

On July 4, 2003, or the Effective Date, the Company and TUM entered into the TUM License Agreement, as superseded and replaced on July 26, 2007, under which TUM has exclusively licensed, or in some cases assigned, to the Company certain intellectual property and know-how that has become part of the Anticalin^® proprietary technologies. In return, the Company agreed to pay to TUM certain annual license fees, milestones and royalties for its own proprietary drug development and sales, as well as an variable fee as a function of out-licensing revenues, or the Out-License Fee, where such Out-License Fees are creditable against annual license payments to TUM.

As required by the TUM License Agreement, the Company provided to TUM its calculation of the Out-License Fee owed by the Company to TUM for the period beginning on the Effective Date and ending on December 31, 2012, the Dispute Period, in the amount of $0.4 million excluding value-added tax. TUM has asserted that, under the TUM License Agreement, the Out-License Fee due to TUM for the Dispute Period amounts to $3.4 million excluding value-added tax in the aggregate and has threatened to terminate the TUM License Agreement if the Out-License Fee is not paid. We believe that if TUM sought to terminate the license agreement for cause as a result of this dispute, it would potentially face wrongful termination claims for substantial damages if the arbitral tribunal in the TUM Arbitration sides with Pieris in its final decision regarding the proper amount of the Out-License Fee, but we can provide no assurance regarding the timing, nature or consequences of such decision. The Company instituted the TUM Arbitration to request the arbitration tribunal to hold that the Company’s calculation of the payments owed to TUM is accurate and shall govern all current and future payments due in respect of the Out-License Fee under the TUM License Agreement. The Company has reserved a liability on its balance sheet in respect of such payment in the amount of €271,000 ($327,937). An adverse ruling in the TUM Arbitration could have a material adverse effect on the Company’s results of operations and financial condition.

In April 2014, TUM argued to the arbitrators that it is not the proper party to be sued under the action for a declaratory arbitration decision brought by the Company in relation to the Research and Licensing Agreement, and that instead, it is the Free State of Bavaria that is the proper respondent to the action. The Company has responded that TUM has capacity to be sued in relation to any disputes arising from and regarding contractual provisions of the Research and Licensing Agreement and is thus also the proper respondent in the action. In accordance with the arbitration rules of the Deutsche Institution für Schiedsgerichtsbarkeit, each party to the arbitration proceeding has appointed one arbitrator and the party-named arbitrators collectively selected the third arbitrator as the chairman of the arbitration panel.

On December 1, 2014, TUM filed its statement of defense, maintaining its earlier calculation of the Out-License Fee. On December 23, 2014, TUM filed a counterclaim in the amount of €2,529,400 ($3,060,827) to suspend the statute of limitations on its claims. On January 12, 2015, the Company filed a reply brief in response to TUM’s defense.

The arbitration panel held its first hearing in Munich, Germany on January 20, 2015, however the arbitration panel did not come to a conclusion on whether TUM is the proper respondent in the action or on the merits of the case. The panel had previously indicated that it will first decide the issue of whether TUM is the proper respondent in this action. The panel resolved that the value in dispute for both parties’ claims and counterclaims would be fixed at €3,500,000 ($4,235,350), as the calculation of the outstanding Out-Licensing Fee also impacts future payments. On March 3, 2015, the Company submitted a reply brief responding to TUM’s statement of defense and counterclaim. On March 31, 2015, TUM submitted a rebuttal brief.

The panel requested that both the Company and TUM indicate to the panel by April 27, 2015 whether proceedings should be stayed as a result of settlement negotiations. On April 27, 2015, the Company submitted a reply brief requesting proceedings to continue without disruption and moving for leave to comment on TUM’s latest submission in another brief to rebut TUM’s latest arguments. Following an approved extension by the panel for TUM’s submission, TUM submitted its proposal on May 4, 2015, requesting the panel to conduct a mediation hearing and assist the parties to negotiate a settlement. On May 8, 2015, the arbitration tribunal set June 1, 2015 as the deadline for final briefs and offered to schedule another oral hearing in mid-June for the purpose of supporting further settlement negotiations if the parties are in favor of holding a hearing.

Subsequent Events

3 Months Ended

Mar. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

10.

Subsequent Events

Sponsored Research Agreement

On May 14, 2015, the Company and the Board of Trustees of the Leland Stanford Junior University (“Stanford”) entered into a sponsored research agreement under which Stanford agreed to perform certain research activities. In return, the Company agreed to pay Stanford the total costs of such research activities. The Company is currently evaluating the financial impact of this agreement.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. All significant intercompany balances and transactions have been eliminated in the consolidation. Certain information and footnotes normally included in financial statement prepared in accordance with U.S. GAAP have been omitted pursuant to the Securities and Exchange Commission rules and regulations. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete annual consolidated financial statements. In the opinion of management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and all adjustments, including normal recurring adjustments, considered necessary for a fair presentation of Pieris Pharmaceuticals, Inc.’s unaudited interim consolidated financial statements have been included. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or any future period.
Use of estimates	Use of estimates The preparation of the condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses in the financial statements and disclosures in the accompanying notes. Actual results and outcomes could differ materially from management´s estimates, judgments and assumptions.
Segment Reporting	Segment Reporting Pieris Pharmaceuticals, Inc. operates as a single segment dedicated to the discovery and development of biotechnological applications and the Company’s chief operating decision maker (CODM) makes decisions based on the Company as a whole. Accordingly, Pieris Pharmaceuticals, Inc. operates and makes decisions as one reporting unit.
Milestone Payments and Royalties	Milestone Payments and Royalties At the inception of each agreement that includes milestone payments, Pieris Pharmaceuticals, Inc. evaluates whether each milestone is substantive and at risk to both parties on the basis of the contingent nature of the milestone. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. Pieris Pharmaceuticals, Inc. evaluates factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required to achieve the respective milestone and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment. Pieris Pharmaceuticals, Inc. aggregates milestones into three categories (i) research milestones, (ii) development milestones and (iii) commercial milestones. Research milestones are typically achieved upon reaching certain success criteria as defined in each agreement related to developing an Anticalin protein against the specified target. Development milestones are typically reached when a compound reaches a defined phase of clinical research or passes such phase, or upon gaining regulatory approvals. Commercial milestones are typically achieved when an approved pharmaceutical product reaches the status for commercial sale or certain defined levels of net sales by the licensee, such as when a product first achieves global sales or annual sales of a specified amount. For revenues from research and development milestone payments, if the milestones are deemed substantive and the milestone payments are nonrefundable, such amounts are recognized entirely upon successful accomplishment of the milestones. Milestones that are not considered substantive are accounted for as license payments and recognized on a straight-line basis over the period of performance. To date, Pieris Pharmaceuticals, Inc. has determined all milestones are substantive. Revenues from commercial milestone payments are accounted for as royalties and are recorded as revenue upon achievement of the milestone, assuming all other revenue recognition criteria are met. Royalty payments are recognized in revenues based on the timing of royalty payments earned in accordance with the agreements; which typically is the period when the relevant sales occur, assuming all other revenue recognition criteria are met.
Fair Value Measurement	Fair Value Measurement ASC Topic 820 Fair Value Measurement defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pieris Pharmaceuticals, Inc. applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 utilizes quoted market prices in markets that are not active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Level 3 inputs are unobservable inputs for the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date. Pieris Pharmaceuticals, Inc.’s cash equivalents consist of highly liquid money market funds and are measured at fair value on a recurring basis. These funds are classified as Level 1 in the fair value hierarchy because they are valued using quoted prices for the periods ended March 31, 2015 and December 31, 2014. The carrying amounts of $471,011 and $ 4,800,573 as of March 31, 2015 and December 31, 2014, respectively, equal the fair value of the cash equivalents. The Company’s other financial instruments include debt instruments and are classified as Level 2 within the fair value hierarchy. The fair value of these instruments was determined using the discounted cash flow method based on contractual cash flows and the current rate at which debt with similar terms could be issued. The fair values for these debt instruments approximated carrying values as of March 31, 2015 and December 31, 2014.
Income taxes	Income taxes 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, and operating losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted statutory tax rates expected to apply to taxable income in the jurisdictions and 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. Based on the level of historical operating results and projections for the taxable income for the future, the Company has determined that it is more likely than not that the deferred tax assets will not be realized. Accordingly, the Company has recorded a valuation allowance to reduce deferred tax assets to the same amount as deferred tax liabilities and determines an effective tax rate of zero percent.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2015, the FASB issued ASU No. 2015-01, “Income Statement – Extraordinary and Unusual items” (ASU 2015-01). The amendments in ASU 2015-01 eliminate from U.S. GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement - Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The company is currently evaluating the impact of this new standard. In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (ASU 2015-02). The amendments in ASU 2015-02 are intended to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). This guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December, 15, 2017. The company is currently evaluating the impact of this new standard. Pieris Pharmaceuticals, Inc. has considered other recent accounting pronouncements and concluded that they are either not applicable to the business, or that the effect is not expected to be material to the unaudited condensed consolidated financial statements as a result of future adoption.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

- Definition

Disclosure of accounting policy for revenue recognition related to alternative revenue programs. The major alternative revenue programs can generally be segregated into two categories, programs that adjust billings for the effects of weather abnormalities or broad external factors or to compensate the utility for demand-side management initiatives (for example, no-growth plans and similar conservation efforts); and programs that provide for additional billings (incentive awards) if the utility achieves certain objectives, such as reducing costs, reaching specified milestones, or demonstratively improving customer service.

+ References + Details

Related-Party Transactions (Tables)

3 Months Ended

Mar. 31, 2015

Related Party Expenses

The Company has incurred the following expenses related to TUM (excluding value added taxes):


	Three months ended March 31,
	2015		2014
Transfer of licenses and protective rights	$	14,057	$	17,131

Total expenses incurred with TUM	$	14,057	$	17,131

Stock-based compensation (Tables)

3 Months Ended

Mar. 31, 2015

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

Schedule of Total Stock-Based Compensation Expense Related to Share-Based Awards under the Pieris Plan


	Three months ended March 31, 2015
Research and Development	$	51,038
General and administrative		166,297

Total stock-option expense	$	217,335

Schedule of Weighted-Average Assumptions Used for Calculating Value of Options Granted


	Three months ended March 31, 2015
Dividend yield		0.0	%
Expected volatility		75.1	%
Weighted average risk-free interest rate		1.66	%
Expected term		5.8 years

Schedule of Information Regarding Stock Option Activity

A summary of the Company´s stock option activity and related information is as follows:


	Number of shares		Weighted-Average Exercise Price		Weighted-Average Contractual Life
Outstanding at December 31, 2014		2,519,500	$	2.00		5.6-5.8 years
Options granted		25,000	$	2.85		5.8 years
Options exercised		—		—		—
Options canceled or expired		—		—		—
Outstanding at March 31, 2015		2,544,500	$	2.01		5.6-5.8 years
Vested or expected to vest at March 31, 2015		598,396	$	2.00		—
Exercisable at March 31, 2015		598,396	$	2.00		—

Corporate Information - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended
	Dec. 23, 2014	Dec. 31, 2014
Organization And Description Of Business [Line Items]
Exercise price of warrants	$ 2.00	$ 2.00
Warrant exercisable period	5 years	5 years
Private Placement [Member]
Organization And Description Of Business [Line Items]
Stock issued	6,779,510
Sales of common stock, price per share	$ 2.00
Proceeds from sale of stock	$ 13,560
Common Stock [Member]
Organization And Description Of Business [Line Items]
Aggregate shares issued upon acquisition	542,360

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015 USD ($) Segment	Dec. 31, 2014 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of Operating segment \| Segment	1
Milestones arrangement, categories description	Pieris Pharmaceuticals, Inc. aggregates milestones into three categories (i) research milestones, (ii) development milestones and (iii) commercial milestones.
Effective tax rate	0.00%
Fair Value, Inputs, Level 1 [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash and Cash Equivalents, Fair Value \| $	$ 471,011	$ 4,800,573

Revenues - Additional Information (Detail) - USD ($)	1 Months Ended			3 Months Ended		12 Months Ended
Revenues - Additional Information (Detail) - USD ($)	May 31, 2011	Sep. 30, 2010	Aug. 31, 2009	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2012	Dec. 31, 2011	Feb. 28, 2013
Deferred Revenue Arrangement [Line Items]
Revenues from product sales				$ 0
Collaborative Arrangement [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments				0	$ 300,000
Allergan Inc [Member] \| Collaborative Arrangement [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments				0
Allergan Inc [Member] \| Collaborative Arrangement [Member] \| Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments				13,000,000
Allergan Inc [Member] \| Collaborative Arrangement [Member] \| Upfront Payment Arrangement [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, license revenue			$ 10,000,000
Sanofi [Member] \| Collaborative Arrangement [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments						$ 300,000
Collaboration agreement, revenue recognized				$ 0		$ 500,000
Description of factors in determining milestones substantive				Factors considered in determining the options were substantive were whether (i) Sanofi could obtain the overall objective of the agreement without exercising any options, (ii) Sanofi was able to obtain value from the initial licenses obtained without exercising any options, (iii) the cost to exercise the options was significant relative to the total upfront payment of $4.9 million for two licenses and four options, and (iv) exercising the option created additional financial commitments for Sanofi or imposed economic penalties on Sanofi.
Collaborative arrangement, consideration		$ 8,100,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Expired Option Agreement [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, revenue recognized								$ 700,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Options Exercised [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, revenue recognized							$ 350,000
Collaborative arrangement, consideration									$ 270,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Options, Exercised Price [Member]
Deferred Revenue Arrangement [Line Items]
Collaborative arrangement, consideration									$ 1,100,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Licenses [Member]
Deferred Revenue Arrangement [Line Items]
Collaborative arrangement, consideration		3,500,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Options to Acquire Additional Licenses [Member]
Deferred Revenue Arrangement [Line Items]
Collaborative arrangement, consideration		1,400,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Research Services [Member]
Deferred Revenue Arrangement [Line Items]
Research collaboration agreement, estimated period							2 years
Collaborative arrangement, consideration		3,200,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Research Services [Member] \| Extension Term [Member]
Deferred Revenue Arrangement [Line Items]
Research collaboration agreement, estimated period							40 months
Sanofi [Member] \| Collaborative Arrangement [Member] \| Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments		49,600,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Maximum [Member] \| Research Milestones [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments		1,800,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Maximum [Member] \| Development Milestones [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments		28,500,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Maximum [Member] \| Commercial Milestones [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments		19,300,000
Sanofi [Member] \| Collaborative Arrangement [Member] \| Upfront Payment Arrangement [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, license revenue		$ 4,900,000
Daiichi Sankyo Inc [Member] \| Collaborative Arrangement [Member]
Deferred Revenue Arrangement [Line Items]
Research collaboration agreement, estimated period				2 years
Collaboration agreement, revenue recognized				$ 0	$ 700,000
Daiichi Sankyo Inc [Member] \| Collaborative Arrangement [Member] \| Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments	$ 87,600,000
Daiichi Sankyo Inc [Member] \| Collaborative Arrangement [Member] \| Maximum [Member] \| Research Milestones [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments	2,500,000
Daiichi Sankyo Inc [Member] \| Collaborative Arrangement [Member] \| Maximum [Member] \| Development Milestones [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments	36,000,000
Daiichi Sankyo Inc [Member] \| Collaborative Arrangement [Member] \| Maximum [Member] \| Commercial Milestones [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments	48,300,000
Daiichi Sankyo Inc [Member] \| Collaborative Arrangement [Member] \| Maximum [Member] \| Additional Diagnostic Milestones [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, milestone payments	700,000
Daiichi Sankyo Inc [Member] \| Collaborative Arrangement [Member] \| Upfront Payment Arrangement [Member]
Deferred Revenue Arrangement [Line Items]
Collaboration agreement, license revenue	$ 10,100,000

Related Party Transaction - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Patent No. 8,420,051 [Member]
Related Party Transaction [Line Items]
Expected patent expiration year	2029
Consulting Agreement [Member]
Related Party Transaction [Line Items]
Consulting agreement fees paid to Prof. Dr. Skerra	$ 5,623	$ 6,853
TUM [Member]
Related Party Transaction [Line Items]
Patent expiration year	2027
TUM [Member] \| License Agreement [Member]
Related Party Transaction [Line Items]
Contingent accrual liability for research and licensing agreement	$ 291,081	$ 373,357

Related-Party Transactions - Related Party Expenses (Detail) - TUM [Member] - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Transfer of licenses and protective rights	$ 14,057	$ 17,131
Total expenses	$ 14,057	$ 17,131

Debt - Additional Information (Detail) - Tbg [Member]		3 Months Ended
Debt - Additional Information (Detail) - Tbg [Member]	Dec. 11, 2014 USD ($) Tranches	Mar. 31, 2015 USD ($)	Mar. 31, 2015 EUR (€)	Mar. 31, 2015 EUR (€)	Jan. 31, 2015 USD ($)	Jan. 31, 2015 EUR (€)	Dec. 11, 2014 EUR (€)	Apr. 03, 2014 USD ($)	Apr. 03, 2014 EUR (€)
Debt Instrument [Line Items]
Amount of repayment to TBG outstanding	$ 1,130,000						€ 1,050,000	$ 1,290,000	€ 1,200,000
Principal amount, interest rate								10.53%	10.53%
Repayment agreement description		Under the repayment agreement, the Company has agreed to a payment schedule pursuant to which it will make semi-annual payments until 2016.	Under the repayment agreement, the Company has agreed to a payment schedule pursuant to which it will make semi-annual payments until 2016.
Capital gain tax withheld		$ 127,482	€ 118,688
Number of tranches	2
Repayment amount of debt		1,000,323		€ 931,312
Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Amount of repayment to TBG outstanding					$ 644,460	€ 600,000
Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Amount of repayment to TBG outstanding		$ 483,345		€ 450,000

Stock-based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 24, 2015
Stock Based Compensation [Line Items]
Number of shares, Options granted	25,000
Share-based payment award, award vesting period	3 years
Maximum term of stock options	10 years
Weighted average grant date fair value	$ 46,442
Number of shares, Options exercised	0	0
Options vested	174,646
Unrecognized share-based compensation expense	$ 2,414,729
Recognized weighted average service period	2 years 9 months
First Quarter Of Two Thousand Fifteen Member
Stock Based Compensation [Line Items]
Recognized weighted average service period	3 years
Pieris Plan [Member]
Stock Based Compensation [Line Items]
Common stock reserved for issuance			3,200,000
Share-based compensation description	(i) 1,000,000 shares, (ii) 4% of the number of shares of the Company’s common stock outstanding on such date, and (iii) such other amount determined by the administrator. As of December 31, 2014, options to purchase 1,430,000 shares of the Company’s common stock have been issued under the Pieris Plan to their executive officers and directors, and options to purchase 1,089,500 shares have been issued under the Pieris Plan to other employees and consultants.
Common stock available for grant	655,500
Pieris Plan [Member] \| Executive Officers And Directors [Member] \| Fourth Quarter Of Two Thousand Fourteen Member
Stock Based Compensation [Line Items]
Number of shares, Options granted	1,430,000
Pieris Plan [Member] \| Employees and Consultants [Member] \| Fourth Quarter Of Two Thousand Fourteen Member
Stock Based Compensation [Line Items]
Number of shares, Options granted	1,089,500
Pieris Plan [Member] \| Employees and Consultants [Member] \| First Quarter Of Two Thousand Fifteen Member
Stock Based Compensation [Line Items]
Number of shares, Options granted	25,000

Stock-based Compensation - Schedule of Total Stock-Based Compensation Expense Related to Share-Based Awards under the Pieris Plan (Detail)	3 Months Ended
	Mar. 31, 2015 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-option expense	$ 217,335
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-option expense	51,038
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-option expense	$ 166,297

Stock-based Compensation - Schedule of Weighted-Average Assumptions Used for Calculating Value of Options Granted (Detail)	3 Months Ended
	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract]
Dividend yield	0.00%
Expected volatility	75.10%
Weighted average risk-free interest rate	1.66%
Expected term	5 years 9 months 18 days

Stock-based Compensation - Schedule of Information Regarding Stock Option Activity (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Outstanding at beginning balance	2,519,500
Number of shares, Options granted	25,000
Number of shares, Options exercised	0		0
Number of shares, Options canceled or expired	0
Number of shares, Outstanding at ending balance	2,544,500	2,519,500
Number of shares, Vested or expected to vest	598,396
Number of shares, Exercisable	598,396
Weighted-Average Exercise Price, Outstanding at beginning balance	$ 2.00
Weighted-Average Exercise Price, Options granted	2.85
Weighted-Average Exercise Price, Options exercised	0
Weighted-Average Exercise Price, Options canceled or expired	0
Weighted-Average Exercise Price, Outstanding ending balance	2.01	$ 2.00
Weighted-Average Exercise Price, Vested or expected to vest	2.00
Weighted-Average Exercise Price, Exercisable	$ 2.00
Weighted-Average Contractual Life, Options granted	5 years 9 months 18 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Contractual Life, Outstanding	5 years 7 months 6 days	5 years 7 months 6 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Contractual Life, Outstanding	5 years 9 months 18 days	5 years 9 months 18 days

Consulting Shares - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 06, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Common stock, shares issued	29,429,522		29,279,522
Common stock par value of issued shares	$ 0.001		$ 0.001
Consulting Agreement [Member]
Related Party Transaction [Line Items]
Common stock, shares issued		150,000
Common stock par value of issued shares		$ 0.01
Agreement termination notice period	180 days
Termination agreement percentage of shares returned	40.00%
Shares subject to forfeiture	60,000
Estimated fair value of non-cancellable shares, Shares	90,000
Estimated fair value of non-cancellable shares, Value	$ 284,400
Estimated fair value cancellable shares, Shares	60,000
Estimated fair value of cancellable shares, Value	$ 192,000
Estimated fair value of consulting shares	476,400
General and administrative expense recognized in consulting shares	$ 311,067
Percentage of consulting shares recognizable as general and administrative expense	60.00%
Percentage of consulting shares recognizable as general and administrative expense offsetting credit to equity	40.00%
Consulting Agreement [Member] \| Non Cancellable Shares [Member]
Related Party Transaction [Line Items]
Share price	$ 3.16
General and administrative expense recognized in consulting shares	$ 284,400
Consulting Agreement [Member] \| Cancellable Shares [Member]
Related Party Transaction [Line Items]
Share price	$ 3.20
General and administrative expense recognized in consulting shares	$ 26,667

Warrants - Additional Information (Detail) - USD ($)		1 Months Ended	12 Months Ended
Warrants - Additional Information (Detail) - USD ($)	Dec. 23, 2014	Dec. 31, 2014	Dec. 31, 2014
Equity [Abstract]
Number of common stock purchased		542,360	542,360
Exercise price of warrants	$ 2.00	$ 2.00	$ 2.00
Warrant exercisable period	5 years	5 years
Warrant expense recognized			$ 664,064

Commitments and Contingencies - Additional Information (Detail)			3 Months Ended
	Dec. 23, 2014 USD ($)	Dec. 23, 2014 EUR (€)	Mar. 31, 2015 USD ($)	Mar. 31, 2015 EUR (€)	Mar. 31, 2015 EUR (€)
Loss Contingencies [Line Items]
Counterclaim amount filed	$ 3,060,827	€ 2,529,400
Claims and counterclaims amount			$ 4,235,350	€ 3,500,000
Out License Fee [Member]
Loss Contingencies [Line Items]
Out-License Fee amount			400,000
TUM [Member] \| Out License Fee [Member]
Loss Contingencies [Line Items]
Out-License Fee amount			3,400,000
Reserved liability			$ 327,937		€ 271,000