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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2011	Mar. 19, 2012
Entity Information [Line Items]
Entity Registrant Name	NEWLINK GENETICS CORP
Entity Central Index Key	0001126234
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding	20,662,029
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	No
Entity Public Float		$ 122,788,546

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 39,490	$ 10,572
Certificates of deposit	2,490	2,269
Prepaid expenses	409	959
State research and development credit receivable	202	230
Interest receivable	1	8
Other receivables	196	604
Total current assets	42,788	14,642
Leasehold improvements and equipment:
Leasehold improvements	4,459	3,804
Computer equipment	710	691
Lab equipment	3,333	3,165
Total leasehold improvements and equipment	8,502	7,660
Less accumulated depreciation and amortization	(2,911)	(2,224)
Leasehold improvements and equipment, net	5,591	5,436
Total assets	48,379	20,078
Liabilities and Equity
Accounts payable	1,670	552
Accrued expenses	1,867	1,554
Deferred rent	913	951
Notes payable to Iowa Department of Economic Development	6,000	0
Obligations under capital leases	121	116
Current portion of long term debt	93	91
Deposits on restricted shares	0	1
Total current liabilities	10,664	3,265
Long term liabilities:
Obligations under capital leases	94	145
Total long-term liabilities	942	7,087
Total liabilities	11,606	10,352
Redeemable preferred stock, $0.01 par value: Authorized shares — 0 at December 31, 2011, and 15,327,777 at December 31, 2010; issued and outstanding shares — 0 at December 31, 2011, and 13,417,435 at December 31, 2010; liquidation preference — $0 at December 31, 2011, and $61,782 at December 31, 2010	0	61,745
Equity (deficit):
Common stock, $0.01 par value: Authorized shares — 38,833,334 at December 31, 2011, and December 31, 2010; issued and outstanding shares — 20,591,240 at December 31, 2011, and 3,628,082 at December 31, 2010	206	36
Additional paid-in capital	118,043	7,374
Notes receivable for common stock	0	(13)
Deficit accumulated during the development stage	(81,476)	(63,389)
Total NewLink Genetics stockholders’ equity (deficit)	36,773	(54,962)
Equity attributable to noncontrolling interests	0	2,943
Total equity (deficit)	36,773	(52,019)
Commitments	0	0
Total liabilities and equity	48,379	20,078
Blank check preferred stock [Member]
Equity (deficit):
Preferred stock	0	0
Preferred Stock Series A [Member]
Equity (deficit):
Preferred stock	0	1,030
Iowa Department of Economic Development [Member]
Long term liabilities:
Notes payable	0	6,000
Iowa State University Research Park [Member]
Long term liabilities:
Notes payable	548	642
City of Ames [Member]
Long term liabilities:
Notes payable	$ 300	$ 300

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2011	Dec. 31, 2010
Stockholders' Equity:
Redeemable preferred stock, par value	$ 0.00	$ 0.01
Redeemable preferred stock, authorized shares	0	15,327,777
Redeemable preferred stock, issued shares	0	0
Redeemable preferred stock, outstanding shares	0	13,417,435
Redeemable preferred stock, liquidation preference	$ 0	$ 61,782,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	38,833,334	38,833,334
Common stock, issued shares		3,628,082
Entity Common Stock, Shares Outstanding	20,662,029
Common stock, outstanding shares	20,662,029	3,628,082
Blank check preferred stock [Member]
Stockholders' Equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized shares	5,000,000	1,388,889
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Preferred Stock Series A [Member]
Stockholders' Equity:
Preferred stock, par value	$ 0.00	$ 0.01
Preferred stock, authorized shares	0	450,000
Preferred stock, issued shares	0	420,000
Preferred stock, outstanding shares	0	420,000
Preferred stock, liquidation preference	$ 0	$ 1,050,000

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended			151 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2011
Grant revenue	$ 1,872	$ 2,079	$ 934	$ 5,717
Operating expenses:
Research and development	14,255	12,666	7,578	60,318
General and administrative	5,679	6,074	3,705	29,835
Total operating expenses	19,934	18,740	11,283	90,153
Loss from operations	(18,062)	(16,661)	(10,349)	(84,436)
Other income and expense:
Miscellaneous income	5	71	19	358
Forgiveness of debt	0	0	0	449
Interest income	11	75	132	1,753
Interest expense	(42)	(47)	(9)	(143)
Other (expense) income, net	(26)	99	142	2,417
Net loss	(18,088)	(16,562)	(10,207)	(82,019)
Less net loss attributable to noncontrolling interest	1	349	233	583
Net loss attributable to NewLink	$ (18,087)	$ (16,213)	$ (9,974)	$ (81,436)
Net loss per common share, basic and diluted	$ (2.98)	$ (4.84)	$ (3.16)
Weighted-average common shares outstanding, basic	6,064,542	3,352,331	3,159,993
Weighted-average common shares outstanding, diluted	6,064,542	3,352,331	3,159,993

Consolidated Statements of Equity (Deficit) - USD ($) $ in Thousands	Total	Preferred Stock Series A [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Notes Receivable For Common Stock [Member]	Treasury Stock [Member]	Deficit Accumulated During the Development Stage [Member]	Total Newlink Genetics Stockholders' Equity [Member]	Non-Controlling Interest [Member]
Balance at Jun. 04, 1999	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Balance (shares) at Jun. 04, 1999			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued	27		$ 19	21	(13)			27
Stock issued (shares)			1,904,762
Net loss	(64)						(64)	(64)
Balance at Dec. 31, 1999	(37)	0	$ 19	21	(13)	0	(64)	(37)	0
Balance (shares) at Dec. 31, 1999			1,904,762
Balance at Jun. 04, 1999	0	0	$ 0	0	0	0	0	0	0
Balance (shares) at Jun. 04, 1999			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options	159
Net loss	(82,019)
Balance at Dec. 31, 2011	$ 36,773	0	$ 206	118,043	0	0	(81,476)	36,773	0
Balance (shares) at Dec. 31, 2011	20,662,029		20,591,240
Balance at Dec. 31, 1999	$ (37)	0	$ 19	21	(13)	0	(64)	(37)	0
Balance (shares) at Dec. 31, 1999			1,904,762
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Receipt of payment on note receivable	13				13			13
Stock issued	47		$ 6	145	(104)			47
Stock issued (shares)			686,762
Preferred stock issued	(989)	(989)						(989)
Net loss	(236)						(236)	(236)
Balance at Dec. 31, 2000	776	989	$ 25	166	(104)	0	(300)	776	0
Balance (shares) at Dec. 31, 2000			2,591,524
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of stock	(15)				18	(33)		(15)
Repurchase of stock (shares)			(131,806)
Stock issued	50		$ 1	49				50
Stock issued (shares)			95,238
Deemed dividend		41					(41)
Net loss	(1,448)						(1,448)	(1,448)
Balance at Dec. 31, 2001	(637)	1,030	$ 26	215	(86)	(33)	(1,789)	(637)	0
Balance (shares) at Dec. 31, 2001			2,554,956
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options	13		$ 1	12				13
Exercise of stock options (shares)			23,810
Receipt of payment on note receivable	33				33			33
Issuance of dividend paid in common stock (shares)			20,998
Stock awards	14			14				14
Accretion of redemption feature of preferred stock	(6)			(6)				(6)
Net loss	(2,253)						(2,253)	(2,253)
Balance at Dec. 31, 2002	(2,836)	1,030	$ 27	235	(53)	(33)	(4,042)	(2,836)	0
Balance (shares) at Dec. 31, 2002			2,599,764
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	46			46				46
Exercise of stock options (shares)			9,524
Exercise of warrants	1,112		$ 2	1,110				1,112
Exercise of warrants (shares)			235,537
Receipt of payment on note receivable	7				7			7
Issuance of dividend paid in common stock (shares)			20,998
Stock awards	15			15				15
Accretion of redemption feature of preferred stock	(5)			(5)				(5)
Net loss	(2,979)						(2,979)	(2,979)
Balance at Dec. 31, 2003	(4,640)	1,030	$ 29	1,401	(46)	(33)	(7,021)	(4,640)	0
Balance (shares) at Dec. 31, 2003			2,865,823
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Receipt of payment on note receivable	5				5			5
Stock awards	57			57				57
Accretion of redemption feature of preferred stock	(5)			(5)				(5)
Net loss	(3,669)						(3,669)	(3,669)
Balance at Dec. 31, 2004	(8,252)	1,030	$ 29	1,453	(41)	(33)	(10,690)	(8,252)	0
Balance (shares) at Dec. 31, 2004			2,865,823
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	51			51				51
Exercise of stock options (shares)			8,946
Receipt of payment on note receivable	1				1			1
Stock issued for acquisition	354		$ 1	353				354
Stock issued for acquisition (shares)			61,953
Issuance of dividend paid in common stock (shares)			41,995
Stock awards	2			2				2
Accretion of redemption feature of preferred stock	(82)			(82)				(82)
Noncontrolling interest	2,278								2,278
Net loss	(4,770)						(4,770)	(4,770)
Balance at Dec. 31, 2005	(10,418)	1,030	$ 30	1,777	(40)	(33)	(15,460)	(12,696)	2,278
Balance (shares) at Dec. 31, 2005			2,978,717
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	22			22				22
Stock issued for acquisition	130		$ 1	129				130
Stock issued for acquisition (shares)			61,953
Issuance of dividend paid in common stock (shares)			20,996
Accretion of redemption feature of preferred stock	(4)			(4)				(4)
Noncontrolling interest	257								257
Net loss	(5,318)						(5,318)	(5,318)
Balance at Dec. 31, 2006	(15,331)	1,030	$ 31	1,924	(40)	(33)	(20,778)	(17,866)	2,535
Balance (shares) at Dec. 31, 2006			3,061,666
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	58			58				58
Exercise of stock options	12			12				12
Exercise of stock options (shares)			15,476
Receipt of payment on note receivable	2				2			2
Stock issued for licensing (shares)			11,905
Issuance of dividend paid in common stock (shares)			20,996
Retire treasury stock				(33)		33
Noncontrolling interest	8								8
Net loss	(7,582)						(7,582)	(7,582)
Balance at Dec. 31, 2007	(22,833)	1,030	$ 31	1,961	(38)	0	(28,360)	(25,376)	2,543
Balance (shares) at Dec. 31, 2007			3,110,043
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	86			86				86
Exercise of stock options	19			19				19
Exercise of stock options (shares)			15,298
Stock issued for licensing	5			5				5
Stock issued for licensing (shares)			2,381
Issuance of dividend paid in common stock (shares)			21,000
Noncontrolling interest	(1)								(1)
Net loss	(8,842)						(8,842)	(8,842)
Balance at Dec. 31, 2008	(31,566)	1,030	$ 31	2,071	(38)	0	(37,202)	(34,108)	2,542
Balance (shares) at Dec. 31, 2008			3,148,722
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	929			929				929
Exercise of stock options	15			15				15
Exercise of stock options (shares)			7,138
Issuance of dividend paid in common stock			$ 1	(1)
Issuance of dividend paid in common stock (shares)			20,998
Stock issued	3								3
Preferred stock issued	40								(40)
Net loss	(10,207)						(9,974)	(9,974)	(233)
Balance at Dec. 31, 2009	(40,786)	1,030	$ 32	3,014	(38)	0	(47,176)	(43,138)	2,352
Balance (shares) at Dec. 31, 2009			3,176,858
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	1,525			1,525				1,525
Exercise of stock options	82		$ 1	81				82
Exercise of stock options (shares)			141,573
Exercise of warrants	2,000		$ 2	1,998				2,000
Exercise of warrants (shares)			178,571
Receipt of payment on note receivable	146				25			25	121
Stock issued for acquisition	819		$ 2	817				819
Stock issued for acquisition (shares)			173,469
Stock issued for licensing	201			201				201
Stock issued for licensing (shares)			23,810
Issuance of dividend paid in common stock (shares)			20,996
Accretion of redemption feature of preferred stock	(2)			(2)				(2)
Conversion of preferred stock to common stock	114			114				114
Conversion of preferred stock to common stock (shares)			14,915
Repurchase of stock	(469)		$ (1)	(374)				(375)	(94)
Repurchase of stock (shares)			(102,110)
Stock issued	2								2
Preferred stock issued	(911)								(911)
Net loss	(16,562)						(16,213)	(16,213)	(349)
Balance at Dec. 31, 2010	$ (52,019)	1,030	$ 36	7,374	(13)	0	(63,389)	(54,962)	2,943
Balance (shares) at Dec. 31, 2010	3,628,082		3,628,082
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	$ 2,545			2,545				2,545
Stock compensation (shares)			11,905
Exercise of stock options	19			19				19
Exercise of stock options (shares)			9,320
Receipt of payment on note receivable	13				13			13
Issuance of dividend paid in common stock			$ 1	(1)
Issuance of dividend paid in common stock (shares)			22,580
Accretion of redemption feature of preferred stock	(8)			(8)				(8)
Conversion of preferred stock to common stock	75,390	(1,030)	$ 107	76,313				75,390
Conversion of preferred stock to common stock (shares)			10,719,353
Stock issued	37,555		$ 62	37,493				37,555
Stock issued (shares)			6,200,000
Noncontrolling interest	(8,634)			(5,692)				(5,692)	(2,942)
Net loss	(18,088)						(18,087)	(18,087)	(1)
Balance at Dec. 31, 2011	$ 36,773	$ 0	$ 206	$ 118,043	$ 0	$ 0	$ (81,476)	$ 36,773	$ 0
Balance (shares) at Dec. 31, 2011	20,662,029		20,591,240

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended			151 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2011
Cash Flows From Development Activities
Net loss	$ (18,088)	$ (16,562)	$ (10,207)	$ (82,019)
Adjustments to reconcile net loss to net cash used in development activities:
Share-based compensation	2,545	1,525	929	5,349
Depreciation and amortization	687	655	303	2,961
In-process research and development expenses - OncoRx	0	819	0	1,428
In-process research and development expenses - Reconstitute	0	201	0	201
Forgiveness of debt	0	0	0	(449)
Forgiveness of notes receivable from related parties	0	350	0	350
Changes in operating assets and liabilities:
Prepaid expenses	550	(849)	(60)	(409)
State research and development credit receivable	28	(60)	329	(202)
Interest due on notes receivable	8	60	(23)	0
Other receivables	408	737	(1,341)	(196)
Accounts payable	637	(528)	(271)	440
Accrued expenses and deferred rent	276	382	1,201	2,781
Net cash used in development activities	(12,949)	(13,270)	(9,140)	(69,765)
Cash Flows From Investing Activities
Purchase of investments	(2,490)	(277)	(142)	(11,290)
Sale of investments	2,269	0	0	8,800
Notes receivable from related parties	0	500	0	(350)
Purchase of equipment	(281)	(2,932)	(1,403)	(6,769)
Cash paid for OncoRx	0	0	0	(120)
Net cash used in investing activities	(502)	(2,709)	(1,545)	(9,729)
Cash Flows From Financing Activities
Cash received from noncontrolling interest investment	0	911	40	3,479
Issuance of common stock	37,555	0	0	37,747
Issuance of common stock from exercise of stock options	19	82	15	159
Issuance of common stock from exercise of warrants	0	2,000	0	3,113
Repurchase of common stock	0	(468)	0	(501)
Repayments of notes receivable for common stock	13	25	0	0
Proceeds from subsidiary common stock option exercise	0	121	0	141
Proceeds from preferred stock	5,000	7,723	19,580	67,743
Proceeds from notes payable	0	1,100	0	7,759
Principal payments on debt	(92)	(67)	0	(369)
Payments under capital lease obligations	(126)	(93)	(9)	(287)
Net cash provided by financing activities	42,369	11,334	19,626	118,984
Net increase (decrease) in cash and cash equivalents	28,918	(4,645)	8,941	39,490
Cash and cash equivalents at beginning of period	10,572	15,217	6,276	0
Cash and cash equivalents at end of period	39,490	10,572	15,217	39,490
Supplemental disclosure of cash flows information:
Cash paid for interest	42	44	9	104
Noncash financing and investing activities:
Accretion on redeemable preferred stock	8	2	0	113
Purchased leasehold improvements and equipment in accounts payable	481	0	749	1,251
Common stock issued to shareholders of OncoRx as part of acquisition	0	932	0	1,654
Issuance of common stock dividend to Series AA preferred shareholders	1	1	1	6
Assets acquired under capital lease	$ 80	$ 282	$ 114	$ 542

Description of Business and Development Stage Activities	12 Months Ended
	Dec. 31, 2011
Development Stage Enterprises [Abstract]
Development Stage Enterprise General Disclosures [Text Block]	Description of Business and Development Stage Activities On June 4, 1999, NewLink Genetics Corporation (NewLink) was incorporated as a Delaware corporation. NewLink was formed for the purpose of developing treatments for cancer and other diseases. NewLink initiated operations in April of 2000, which primarily consist of research and development. In 2005, NewLink created a wholly owned subsidiary, BioProtection Systems Corporation (BPS). NewLink contributed certain licensing agreements and other intangible assets for BPS to create vaccines against potential biological terror threats. During 2006, BPS granted options to the founders of NewLink and employees and consultants of BPS to acquire shares of BPS common stock. A portion of these options were exercised during 2008 and 2009, which diluted NewLink’s ownership. At December 31, 2009, NewLink owned 72% of BPS and on an as-if-converted-to-common-stock basis, NewLink’s ownership of BPS was 63%. At December 31, 2010, NewLink owned 71% of BPS and on an as-if-converted-to-common-stock basis, NewLink’s ownership of BPS was 64%. On January 7, 2011, NewLink acquired all of the minority interest in BPS, by merging a newly-formed subsidiary of NewLink with BPS, with BPS as the surviving corporation resulting in NewLink owning all the outstanding capital stock of BPS. See note 15. NewLink and its subsidiary (the Company) are development stage enterprises and are devoting substantially all of their efforts toward research and development. The Company has never earned revenue from sales of its drugs under development. The Company has, from June 4, 1999 (inception) through December 31, 2011 generated a cumulative deficit of $81.5 million. The accompanying financial statements for the year ended December 31, 2011 have been prepared assuming the Company will continue as a going concern. The generation of additional financing will be necessary for the Company to continue operations in the future. During the years ended December 31, 2011 and 2010, the Company received financing of $42.6 million and $9.8 million, respectively. During the year ended December 31, 2010, BPS received financing of $900,000. The Company incurred a net loss of $18.1 million for the year ended December 31, 2011, and from inception through December 31, 2011 has generated a cumulative deficit of $81.5 million. The Company has managed its liquidity needs during its development stage to date through a series of capital market transactions. In June, 2011, the Company raised $5 million from the sale of shares of the Company’s Series E preferred stock. On October 19, 2011, the Company’s board of directors approved a 2.1-for-one reverse split of the Company’s common stock to be effected prior to the effective date of the Company’s IPO. See note 16. On November 16, 2011, the Company completed its initial public offering (IPO) of common stock pursuant to a Registration Statement on Form S-1 that was declared effective on November 10, 2011. The Company sold 6,200,000 shares of common stock at a price of $7.00 per share raising a total of $37.6 million in net proceeds after underwriting discounts and commissions of $3.0 million and offering expenses of $2.9 million. Costs directly associated with the IPO were capitalized and recorded as deferred IPO costs prior to the closing of the IPO. These costs have been recorded as a reduction of the proceeds received in arriving at the amount to be recorded in additional paid-in capital. Upon the closing of the IPO, 14,270,113 shares of the Company’s convertible preferred stock automatically converted into 10,719,353 shares of common stock, which also reflected conversion price adjustments to our preferred stock. The accompanying financial statements as of and for the year ended December 31, 2011 have been prepared assuming the Company will continue as a going concern. The company successfully raised net proceeds of $37.6 million from its recent IPO which is expected to be adequate to satisfy its liquidity requirements through December 31, 2012 and beyond, although not through commercialization and launch of revenue producing products. The Company expects to raise additional capital prior to successful launch of future revenue producing products. If available liquidity becomes insufficient to meet the Company’s operating obligations as they come due, management’s plans include pursuing alternative funding arrangements and/or reducing expenditures as necessary to meet the Company’s cash requirements. However, there is no assurance that, if required, the Company will be able to raise additional capital or reduce discretionary spending to provide the required liquidity. Failure by the Company to successfully execute its plans or otherwise address its liquidity needs may have a material adverse effect on its business and financial position, and may materially affect the Company’s ability to continue as a going concern.

- Definition

The entire disclosure for all or part of the detailed information required for development stage enterprises. The information may also be disclosed on an element-by-element basis. Information may include an identification of the current or prior year financial statements of the entity, its development stage subsidiaries, or its investees as those of one or more development stage enterprises; a description of the nature of the development stage activities in which each enterprise is engaged; and in the first fiscal year in which each enterprise is no longer considered a development stage enterprise, a statement that in prior years the enterprise had been in the development stage.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 7
-Paragraph 11, 12, 13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 225
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472436&loc=d3e38614-110930

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 210
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472335&loc=d3e37729-110921

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 235
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 230
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472471&loc=d3e38015-110924

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 215
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6472370&loc=d3e38313-110927

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 215
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472370&loc=d3e38297-110927

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 235
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38942-110933

+ Details

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Dec. 31, 2011
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Significant Accounting Policies (a) Use of Estimates The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. (b) Principles of Consolidation The consolidated financial statements include the financial statements of NewLink and its wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. (c) Cash and Cash Equivalents For the purposes of the consolidated statements of cash flows, the Company considers all highly liquid debt instruments with an original maturity of three months or less to be cash equivalents. Cash equivalents of $39.5 million and $10.6 million at December 31, 2011 and 2010, respectively, consist of money market accounts and treasury bills. (d) Certificates of Deposit Certificates of deposit have original maturities of greater than three months. Certificates of deposit are classified as held-to-maturity with due dates through 2012 and are presented at amortized cost, which approximates fair value. (e) Leasehold Improvements and Equipment Leasehold improvements and equipment are capitalized as we believe they have alternative future uses and are stated at cost. Equipment under capital leases is stated at the present value of minimum lease payments. Depreciation on all leasehold improvements and equipment is calculated on the straight-line method over the shorter of the lease term or estimated useful life of the asset. Computer equipment has useful lives of three to five years and lab equipment has useful lives of three to seven years. During 2009, the Company added leasehold improvements to a new facility under an operating lease. As part of the lease, the lessor approved a tenant improvement allowance of $943,000 for improvements made to the facility. The improvement allowance is recorded as deferred rent on the financial statements and will reduce rent expense over the remaining term of the lease. (f) Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever 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 group to future net undiscounted cash flows expected to be generated by the asset group, primarily relating to proceeds for selling the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. (g) Revenue Recognition The Company receives payments from government entities under its grants and contracts with the National Institute of Health and the Department of Defense. These agreements provide the Company cost reimbursement for certain types of expenditures in return for research and development activities over a contractually defined period. Revenues are recognized in the period during which the related costs are incurred, provided that the conditions under which the cost reimbursement was provided have been met and we have only perfunctory obligations outstanding. During the years ended December 31, 2011, 2010 and 2009, and from inception through December 31, 2011, the Company has earned $1.9 million, $2.1 million, $0.9 million and $5.7 million in grant revenue, respectively. (h) Expenses Accrued Under Contractual Arrangements with Third Parties; Accrued Clinical Expenses The Company estimates its accrued expenses through a process of reviewing open contracts and purchase orders, communicating with personnel to identify services that have been performed and estimating the level of service performed and the associated cost incurred for the service that may not be invoiced from the provider. The estimates of accrued expenses as of each balance sheet date are based on facts and circumstances known at that time. Such estimates are periodically confirmed with the service providers to verify accuracy. The Company bases its expenses related to clinical trials on estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and contract research organizations that conduct and manage clinical trials on behalf of the Company. Invoicing from third-party contractors for services performed can lag several months. We accrue the costs of services rendered in connection with third-party contractor activities based on our estimate of management fees, site management and monitoring costs and data management costs. Differences between actual clinical trial costs from estimated clinical trial costs have not been material and are adjusted for in the period in which they become known. (i) Research and Development Research and development costs are expensed as incurred. Certain research and development expenses are refundable from the state of Iowa without regard to income. State research and development credits of $160,000, $230,000, $170,000 and $1.8 million at December 31, 2011, 2010 and 2009, and from inception through December 31, 2011, respectively, are reflected as a reduction of research and development expenses on the accompanying consolidated statements of operations. (j) Patents The Company generally applies for patent protection on processes and products. Patent application costs are expensed as incurred as a component of general and administrative expense, as recoverability of such expenditures is uncertain. (k) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. 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 operating results in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. As of December 31, 2011 and 2010, the Company has not recognized any uncertain tax positions. (l) Stock Option Valuation The Company is required to estimate the grant-date fair value of stock options issued to employees and recognize this cost over the period these awards vest. The Company estimates the fair value of each option granted using the Black-Scholes option pricing model. Generally, the Company has issued employee awards with a graded vesting schedule that vest over time. For these awards, the Company records compensation cost on a straight-line basis over the vesting period for the entire award. The Company has issued awards to nonemployee consultants and advisors. All grants to nonemployees are valued using the same fair value method that the Company uses for grants to employees. The cost recognized on these awards is determined on the later of the vesting of the award or completion of services by the nonemployee. Following is a description of the inputs for the Black-Scholes model: Exercise Price The Company’s stock options granted prior to the IPO were granted with an exercise price as determined by the Board of Directors. Subsequent to the IPO, the Company uses the quoted market price as listed on the public exchange. Expected Term (in Years) The expected term of a stock option is the period of time for which the option is expected to be outstanding. The Company has a large number of options outstanding and has no secondary market. Therefore, the Company used the simplified method under current SEC guidance to estimate the expected term. The simplified method uses the midpoint between the fully vested date and the forfeiture date as the expected term for the employee and nonemployee director grants. For grants to nonemployee consultants or advisors, the contractual life of the option is used. Risk-Free Interest Rate The Company uses the average yield on current U.S. Treasury instruments with terms that approximate the expected term of the stock options being valued. Expected Dividend Yield The expected dividend yield for all of the Company’s stock option grants is 0%, as the Company has not declared a cash dividend since inception and has no plans to declare a dividend. Expected Volatility The Company estimates future expected volatility for each stock option valuation utilizing volatility rates of similar publicly traded companies considered to be in the same peer group. We plan to continue using peer group data until we have sufficient information to estimate our own volatility. Forfeitures The share-based compensation expense has been reduced for estimated forfeitures. The estimated forfeiture rate is based on historical experience of the Company’s option plan, which the Company expects to continue at the current level, and any adjustments in the forfeiture rate in the future will result in a cumulative adjustment in the period that this estimate is changed. Ultimately, the total compensation expense recognized for any given stock-based award over its vesting period will only be for those shares that actually vest. (m) Segments The Company operates in one segment. NewLink and its subsidiary BPS conduct research and development activities based from facilities located in Ames, Iowa. The Ames location also includes corporate headquarters for NewLink and BPS. The companies conduct preclinical and clinical research in the biopharmaceutical industry. Management uses cash flow as the primary measure to manage its business and does not segment its business for internal reporting or decision-making. (n) Financial Instruments and Concentrations of Credit Risk The fair values of cash and cash equivalents, certificates of deposit, prepaid expenses, receivables, accounts payable, and accrued liabilities, which are recorded at cost, approximate fair value based on the short-term nature of these financial instruments. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, and certificates of deposit. Cash and cash equivalents are held by financial institutions and are federally insured up to certain limits. At times, the Company’s cash and cash equivalents balance exceeds the federally insured limits. To limit the credit risk, the Company invests its excess cash primarily in high quality securities such as money market funds. The fair value of notes payable and capital lease obligations was $7.2 million and $7.3 million as of December 31, 2011 and 2010, respectively. (o) Recent Accounting Pronouncements In June 2011, the FASB issued Accounting Standards Update ASU 2011-05, an amendment of the Codification Topic 220, Comprehensive Income. ASU 2011-05 increases the prominence of items reported in other comprehensive income and eliminates the option to present components of other comprehensive income as part of the statement of changes in stockholders’ equity. ASU 2011-05 requires that all non-owner changes in stockholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. ASU 2011-05 will be effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2011, with earlier adoption permitted. ASU 2011-5 is effective for the Company beginning January 1, 2012.

Acquisition of OncoRx Corporation	12 Months Ended
Acquisition of OncoRx Corporation	Dec. 31, 2011
Acquisition of OncoRx Corporation [Abstract]
Acquisition of OncoRx Corporation [Text Block]	Acquisition of OncoRx Corporation On June 21, 2005, NewLink acquired all of the outstanding shares of OncoRx Corporation (OncoRx) in order to gain access to certain small molecule technologies. On July 29, 2010, the Company entered into an amendment of the stock purchase agreement with OncoRx to reduce the remaining shares payable by accelerating the final installment payment to the effective date of the amendment. In consideration for the accelerated stock payment, the Company received a 30% discount on the remaining shares payable, reducing total shares payable under the agreement by 74,344 shares. A total of 173,469 shares were issued with total fair value of $819,000. All cash and stock consideration paid to the OncoRx shareholders has been recorded as research and development expense at fair value when delivered as there is no alternative use for the acquired research and development activities. Through this acquisition, the Company acquired technology related to its IDO pathway inhibitor product candidates, subject to a licensing agreement with the Lankenau Institute for Medical Research.

Notes Receivable for Common Stock	12 Months Ended
Notes Receivable for Common Stock	Dec. 31, 2011
Notes Receivable for Common Stock [Abstract]
Notes Receivable for Common Stock [Text Block]	Notes Receivable for Common Stock Notes receivable for common stock at December 31, 2011 and 2010 were $0 and $13,000, respectively. The notes were issued in connection with the sale of common stock to officers of the Company and, accordingly, are shown as a reduction of shareholders’ equity (deficit). All of the notes were secured by the common stock and were guaranteed by the officer’s personal assets.

Leases

12 Months Ended

Dec. 31, 2011

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

Leases

(a) Capital Leases

The following is an analysis of the leased property under capital leases by major class (in thousands):



	Asset balances at December 31,
Class of property	2011		2010
Lab equipment	$	489	$	409
Leasehold improvements	27		27
Total property under capital leases	516		436
Less accumulated depreciation and amortization	137		67
Capital leased assets, net	$	379	$	369

The depreciation and amortization reflected above has been recorded as depreciation and amortization expense in these consolidated financial statements.

The following is a schedule by years of the future minimum lease payments under capital leases together with the present value of the net minimum lease payments as of December 31, 2011 (in thousands):



Year ending December 31:
2012	$	134
2013	60
2014	19
2015	18
2016	4
Total minimum lease payments	235
Less amount representing interest	20
Present value of net minimum lease payments	$	215

(b) Operating Leases

The Company has noncancelable facilities operating leases that expired at various times between February 2009 and June 2009, which are now being leased on a month-to-month basis. The Company entered into a new lease for additional space in October 2009 expiring in 2015. Under the terms of the lease, the Company has the option to extend the lease for three additional five-year periods upon the same terms as the base lease. Additionally, in November of 2011, the Company entered into an amendment to the October 2009 lease adding additional space and extending the term through 2017. The Company also leases laboratory space from one of its licensors. Lease expense is recognized on a straight-line basis. Rental expense for operating leases during the years ended December 31, 2011, 2010 and 2009, and from inception through December 31, 2011, was $601,000, $601,000, $294,000 and $3.0 million respectively.

Future minimum lease payments under the noncancelable operating leases (with initial or remaining lease terms in excess of one year) as of December 31, 2011 are as follows (in thousands):



Year ending December 31:
2012	$	555
2013	452
2014	441
2015	193
2016	170
2017	29
	$	1,840

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References + Details

Long-Term Debt	12 Months Ended
Long-Term Debt	Dec. 31, 2011
Long-term Debt, Unclassified [Abstract]
Long-term Debt [Text Block]	Long-Term Debt March 2005 Iowa Department of Economic Development Loan In March 2005, we entered into a $6.0 million forgivable loan agreement with the Iowa Department of Economic Development, or the IDED. Under the agreement, in the absence of default, there were no principal or interest payments due until the completion date for the project. The balance outstanding under the loan agreement was $6.0 million as of December 31, 2011. The project provided us with financial assistance for research and product development activities at our Iowa State University Research Park facility. The project called for the creation of 315 jobs and retention of 35 jobs with total project expenditures of $189.9 million for clinical trials, research and development activities, building construction, equipment purchases, and other working capital needs. As of December 31, 2011, we believe we had created 36 jobs, retained 35 jobs and incurred $72.4 million of project expenditures. Additionally, under the agreement, we were obligated to pay a minimum of 0.25% royalties on all gross revenues of any products we bring to market with a cumulative maximum royalty amount due of $3.2 million. Substantially all of our assets were pledged to secure this loan. See note 19. 2009 Iowa State University Research Park Loan In 2009, the Company executed a promissory note in favor of Iowa State University Research Park, or ISURP, in an original principal amount of $800,000, which is due in monthly installments through March, 2018. The note represents amounts owed by the Company to ISURP for certain improvements that were made to facilities the Company leases from ISURP. The principal and interest owed under the note is amortized over an eight-year period. Interest is payable monthly under this promissory note, initially at a rate of 3.0% per annum and increasing to 5.0% per annum after five years from the date the improvements were completed. ISURP may accelerate all amounts owed under the note upon an event of default, including the Company’s uncured material breach of the terms of the note or the lease or upon early termination of the lease. In the event of a default under the note, amounts owed under the note will bear interest at 8.0% per annum. The balance outstanding under this note at December 31, 2011 is $641,000. The balance outstanding under this note at December 31, 2010 was $733,000. March 2010 City of Ames Forgivable Loan In March 2010, the Company entered into a $400,000 forgivable loan agreement with the City of Ames, Iowa and the Ames Chamber of Commerce, jointly, as lenders. The project provides the Company with financial assistance to construct new facilities within the Ames city limits. In the absence of a default, there are no principal or interest payments due until the expected completion date for the project, which is March 10, 2015. The project calls for the Company to create or retain at least 70 full-time jobs located in Ames, Iowa as of March 10, 2012 and to create or maintain at least 150 full-time positions located in Ames, Iowa as of March 10, 2015. The agreement also calls for the Company to enter into a five-year building lease with the option for extension for an additional five years of not less than 20,000 square feet within the corporate limits of the City of Ames by March 10, 2015. If, as of March 10, 2015, the Company has fulfilled the terms of the loan agreement, the loan will be forgiven. If on March 10, 2012 and March 10, 2015, the Company has failed to create or retain at least 70 full-time jobs and 150 full-time jobs in Ames, Iowa, respectively, the Company will be required to repay approximately $3,100 per job not created or retained following the respective date. As of December 31, 2011, $300,000 of the total $400,000 forgivable loan was advanced to the Company with the final $100,000 pending certification to the City of Ames regarding the creation of a threshold level of jobs. In the event of default, including failure to repay any amounts under the loan when due, the Company will be required to repay the note, including 6.5% interest per annum, beginning at the date of default.

Common Stock	12 Months Ended
Common Stock	Dec. 31, 2011
Common Stock [Abstract]
Common Stock [Text Block]	Common Stock The holders of common stock are entitled to one vote per share on all matters to be voted upon by the NewLink stockholders. Subject to preferences applicable to outstanding preferred stock, the holders of common stock are entitled to receive ratably such dividends, if any, as may be declared from time to time by the NewLink Board of Directors. In the event of liquidation, dissolution, or winding up of NewLink, the holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities subject to prior distribution rights of the preferred stock.

Preferred Stock

12 Months Ended

Dec. 31, 2011

Preferred Stock [Abstract]

Preferred Stock [Text Block]

Preferred Stock

On November 16, 2011, the Company completed its IPO of common stock pursuant to a Registration Statement on Form S-1that was declared effective on November 10, 2011. Upon the closing of the IPO, 14,270,113 shares of the Company’s convertible preferred stock automatically converted into 10,719,353 shares of common stock. As of December 31, 2011 the Company had no outstanding preferred stock. Prior to the IPO, the outstanding preferred stock had various preferences, including voting rights, dividend rights and conversion rights and liquidation preferences.

Prior to the IPO, NewLink’s Amended and Restated Certificate of Incorporation authorized the issuance of 17,166,666 shares of preferred stock, $0.01 par value. Subsequent to the IPO, NewLink’s Amended and Restated Certificate of Incorporation authorized the issuance of 5,000,000 shares of preferred stock, $0.01 par value. The NewLink Board of Directors has the authority to issue the preferred stock in one or more series and to fix the voting power and such designations, preferences, and rights subject to approval of outstanding preferred series shareholders. The following is a summary of all preferred stock issued by NewLink and outstanding at December 31, 2011 and 2010:



			as of December 31, 2011 (in thousands, except share and per share data)
	Par Value per Share		Shares Authorized	Issued and Outstanding Shares	Liquidation Preference		Carrying Value
Preferred stock	$	0.01	5,000,000	—	$	—	$	—



			as of December 31, 2010 (in thousands, except share and per share data)
	Issue Price per Share		Shares Authorized	Issued and Outstanding Shares	Liquidation Preference		Carrying Value
Series A	$	2.50	450,000	420,000	$	1,050	$	1,030
Series AA	1.80		1,250,000	1,217,175	2,191		2,191
Series AAA	2.25		377,777	377,410	849		849
Series B	2.50		3,200,000	2,191,193	5,478		5,478
Series BB	4.25		2,000,000	1,883,337	8,004		8,004
Series C	5.00		6,000,000	6,000,000	30,000		30,000
Series D	5.00		1,500,000	1,500,000	7,500		7,500
Series E	31.25		1,000,000	248,320	7,760		7,723
Blank Check Preferred	—		1,388,889	—	—		—
Total				13,837,435	$	62,832	$	62,775

On January 7, 2011, NewLink acquired all of the minority interest in BPS by issuing 276,304 shares of Series E preferred stock. See note 15. On June 20, 2011, the Company issued and sold to an investor 160,000 shares of Series E preferred stock at a purchase price of $31.25 per share, for aggregate consideration of $5.0 million.

On October 21, 2010, a stockholder exercised a warrant attached to the Series D preferred stock for 375,000 shares of common stock at an aggregate purchase price of $2.0 million.

Following is a summary of all redeemable preferred stock activity for the years ended December 31, 2011 and 2010:



	Redeemable Preferred Stock
	Series AA			Series AAA			Series B			Series BB			Series C			Series D			Series E
Balance at December 31, 2009	2,205			847			5,478			8,104			30,000			7,500			—
Issuance of 248,320 shares of Series E preferred stock (net of offering costs) (December 1 through December 13, 2010)	—			—			—			—			—			—			7,723
Accretion of redemption feature of preferred stock	—			2			—			—			—			—			—
Conversion of preferred stock to common stock	(14		)	—			—			(100		)	—			—			—
Balance at December 31, 2010	2,191			849			5,478			8,004			30,000			7,500			7,723
Issuance of 436,304 shares of Series E preferred stock (January 7, 2011 and June 20, 2011)	—			—			—			—			—			—			13,635
Accretion of redemption feature of preferred stock	—			—			—			—			—			—			8
Conversion of preferred stock to common stock	(2,191		)	(849		)	(5,478		)	(8,004		)	(30,000		)	(7,500		)	(21,366		)
Balance at December 31, 2011	$	—		$	—		$	—		$	—		$	—		$	—		$	—

Prior to the IPO, NewLink preferred stock included 1,388,889 authorized shares of blank check preferred stock, $0.01 par value. Subsequent to the IPO, NewLink preferred stock included 5,000,000 authorized shares of blank check preferred stock, $0.01 par value.

Following is a summary of the preferences relating to the various series of NewLink preferred stock prior to the IPO:

(a) Voting Rights

Any action taken by the Board of Directors or others that would have impacted the holders of Series AA, B, BB, C, D or E (collectively, the Series Preferred) required approval by a majority of the outstanding shares of the Series Preferred shareholders.

(b) Dividend Rights

The Series Preferred, in preference to holders of common stock, were entitled to receive a noncumulative cash dividend of 8% of the original issue price per annum, payable only when, as, and if declared by the Board of Directors.

Series AA stockholders, in preference to holders of common stock, were entitled to receive a cumulative stock dividend of 0.017 shares of common stock for each outstanding share of Series AA. A total of 6,992 and 6,992 shares of common stock were accrued for dividends on the Series AA stock as of and December 31, 2010 and 2009, respectively.

The Series Preferred automatically converted into common stock immediately upon the closing of an IPO of common stock pursuant to an effective registration statement filed by NewLink under the Securities Act of 1933.

(d) Liquidation Preferences

Subsequent to the automatic conversion of the Series Preferred into common stock immediately upon the closing of the IPO, the Series Preferred were no longer entitled to receive preferential payments with respect to their shares.

(e) Additional Preferences

Redemption

If a majority of the outstanding shares of the Series Preferred voted to have NewLink redeem its stock, it must have done so in three equal installments beginning on September 30, 2014, provided that NewLink had received 60 days’ notice.

Registration Rights

Under an amended and restated investor rights agreement, following the IPO, certain holders of NewLink common stock had the right to require NewLink to register their shares with the SEC so that those shares may be publicly resold, or to include those shares in any registration statement NewLink filed, subject to specified exemptions, conditions and limitations.

Common Stock Equity Incentive Plan

12 Months Ended

Dec. 31, 2011

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

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

Common Stock Equity Incentive Plan

In April 2000, the stockholders approved NewLink’s 2000 Equity Incentive Plan (the “2000 Plan”), and in July 2009, the stockholders approved NewLink’s 2009 Equity Incentive Plan (the “2009 Plan”). Following the approval of the 2009 Plan, all options outstanding under the 2000 Plan are effectively included under the 2009 Plan. Under the provisions of the 2009 Plan, NewLink may grant the following types of common stock awards:


•	Incentive Stock Options


•	Nonstatutory Stock Options


•	Restricted Stock Awards


•	Stock Appreciation Rights

Awards under the 2009 Plan, as amended, may be made to officers, employees, Board of Directors, advisors, and consultants to NewLink. As of December 31, 2011 and 2010, an aggregate of 3,992,857 and 3,278,571 shares of common stock, respectively, were reserved for issuance under the 2009 Plan. On January 7, 2011, stockholders authorized an increase of 714,286 shares of common stock available for issuance under the 2009 Plan. As of December 31, 2011, 319,239 shares are available for grant.

An additional 823,649 shares of common stock were added to the shares reserved for future issuance under the Company’s 2009 Equity Incentive Plan as of January 1, 2012. The shares reserved were increased pursuant to an “evergreen provision” on January 1 of each year, from 2012 to (and including) 2019, in an amount equal to 4% of the total number of shares of Common Stock outstanding on December 31 of the preceding calendar year.

On October 29, 2010, the Company adopted a 2010 Non-Employee Directors’ Stock Option Plan, or Directors’ Plan, and a 2010 Employee Stock Purchase Plan, or 2010 Purchase Plan. 238,095 shares of common stock reserved for future issuance under the Directors’ Plan, which became effective on November 10, 2011, concurrent with the execution and delivery of the underwriting agreement for the initial public offering. 214,285 shares of common stock reserved for future issuance under the 2010 Purchase Plan, which became effective on November 16, 2011, concurrent with the closing of the initial public offering.

Stock Options

The fair value of the awards was determined by the Board of Directors in good faith until November 16, 2011 when NewLink’s common stock initiated trading on the NASDAQ public exchange at which time the fair value will be the quoted market price as listed on the public exchange. Prior to the IPO, the estimated fair value of the common stock has been determined by management with the assistance of a third-party appraisal report and an evaluation of milestones achieved. Under provisions of the 2009 Plan, if Incentive Stock Options (ISO) are granted to a 10% stockholder in NewLink, the exercise price shall not be less than 110% of the common stock’s fair market value on the date of grant. The life of the options is 10 years under the 2009 Plan unless an ISO is granted to a stockholder who owns more than 10% of NewLink’s outstanding stock, in which case the life may not exceed five years.

The NewLink Board of Directors determines the vesting period for each stock option award. Generally, stock options awarded to date under the 2009 Plan vest 20% or 25% on the first anniversary date of issuance with the remaining options vesting ratably over the next 36 to 48 months, though some options have effective vesting periods that begin prior to the date of grant. In such cases, compensation expense is recognized for the vested portion of the award upon grant. The stock options may include provisions for early exercise of options. If any shares acquired are unvested, they are subject to repurchase at NewLink’s discretion until they become vested.

Share-based employee compensation expense for the years ended December 31, 2011, 2010 and 2009, and from inception through December 31, 2011 was $2.5 million, $1.5 million, $0.9 million and $5.0 million, respectively, and is allocated between research and development and general and administrative expenses within the consolidated statements of operations, giving rise to a related tax benefit of $0. As of December 31, 2011, the total compensation cost related to nonvested option awards not yet recognized was $3.9 million and the weighted average period over which it is expected to be recognized was 1.7 years.

The following table summarizes the stock option activity for the year ended December 31, 2011:



	Number of options		Weighted average exercise price		Weighted average remaining contractual term (years)
Outstanding at beginning of period	2,932,772		$	2.67
Options granted	664,323		7.12
Options exercised	(21,224	)	6.51
Options forfeited	(60,820	)	1.29
Options expired	—		—
Outstanding at end of period	3,515,051		$	3.51	7.7
Options exercisable at end of period	2,223,130		$	2.74	7.2

In the above table, options granted includes 25,000 shares of stock grants, which are fully vested at issuance.

Based on the December 30, 2011 price of $7.04 per share, the intrinsic value of stock options outstanding at December 31, 2011, was $11.6 million, of which $9.6 million and $2.0 million related to stock options that were vested and unvested, respectively, at that date.

On January 7, 2011, all options to purchase BPS common stock were exchanged for 50,513 options to purchase NewLink stock with a weighted average exercise price of $1.30, which are included in options granted above. This exchange was considered a modification for accounting purpose. As there were no differences in the total fair value of the awards immediately before and after the modification no additional compensation expense has been recorded. See note 15.

The following table summarizes options that were granted during the years ended December 31, 2011, 2010 and 2009, and the range of assumptions used to estimate the fair value of those stock options using a Black-Scholes valuation model:



	Year Ended
	2011	2010	2009
Number of options granted	664,323	1,297,738	1,079,524
Risk-free interest rate	0.1%-3.1%	2.3%-3.5%	1.6	%
Expected dividend yield	—	—	—
Expected volatility	62.6%-67.9%	59.8%-68.1%	69.4	%
Expected term (in years)	5.0-7.0	5.0-7.5	7.5
Weighted average grant-date fair value per share	$7.12	$2.90	$1.03

The intrinsic value of options exercised during the year ended December 31, 2011 was $194,000. The fair value of awards vested during the year ended December 31, 2011 was $7.8 million.

The intrinsic value of options exercised during the year ended December 31, 2010 was $82,000. The fair value of awards vested during the year ended December 31, 2010 was $3.7 million.

The intrinsic value of options exercised during the year ended December 31, 2009 was $15,000. The fair value of awards vested during the year ended December 31, 2009 was $1.7 million.

NewLink does not have a formal policy regarding the source of shares issued upon exercise of stock options. NewLink expects shares issued upon future stock option exercises to be new shares.

During the years ended December 31, 2011, 2010 and 2009 and from inception through December 31, 2011, 180,239, 145,238, 0 and 490,239 stock options and awards were granted to nonemployee consultants and advisors, respectively. As a result of the issuance of these options and awards, $416,000, $147,000, $90,000 and $824,000 of expense was recorded in the years ended 2011, 2010 and 2009 and from inception through December 31, 2011, respectively.

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2011

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Income Taxes

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and the deferred tax liability at December 31, 2011 and 2010 are presented below (in thousands):



	Year Ended December 31,
	2011			2010
Deferred tax assets:
Net operating loss carryforwards	$	16,007		$	13,042
Federal research credits	2,912			2,101
Gross deferred tax assets	18,919			15,143
Less valuation allowance	(18,858		)	(15,017		)
Net deferred tax assets	61			126
Deferred tax liability:
Equipment	(61		)	(126		)
Total net deferred tax assets	$	—		$	—

The valuation allowance for deferred tax assets as of December 31, 2011 and 2010 was $18.9 million and $15.0 million, respectively. The net change in the total valuation allowance for the years ended December 31, 2011 and 2010 was an increase of $3.9 million and $3.4 million, respectively. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected taxable income, and tax planning strategies in making this assessment. Valuation allowances have been established for the entire amount of the net deferred tax assets as of December 31, 2011 and 2010, due to the uncertainty of future recoverability.

Federal operating loss carryforwards as of December 31, 2011 for approximately $76.2 million and federal research credit carryforwards of approximately $2.9 million expire at various dates from 2020 through 2031. Sections 382 and 383 of the Internal Revenue Code limit a corporation’s ability to utilize its net operating loss carryforwards and certain other tax attributes (including research credits) to offset any future taxable income or tax if the corporation experiences a cumulative ownership change of more than 50% over any rolling three year period. State net operating loss carryforwards (and certain other tax attributes) may be similarly limited. An ownership change can therefore result in significantly greater tax liabilities than a corporation would incur in the absence of such a change and any increased liabilities could adversely affect the corporation’s business, results of operations, financial condition and cash flow.

Based on a preliminary analysis, we believe that, from its inception through December 31, 2009, NewLink experienced Section 382 ownership changes in September 2001 and March 2003. These two ownership changes limit NewLink’s ability to utilize its federal net operating loss carryforwards (and certain other tax attributes) that accrued prior to the 2003 ownership change. In addition, the net operating loss carryforwards (and certain other tax attributes) of NewLink’s subsidiary may be limited by Sections 382 and 383 as a result of a prior ownership change of the subsidiary. Additional ownership changes may occur in the future as a result of events over which the Company will have little or no control, including purchases and sales of the Company’s equity by our 5% stockholders, the emergence of new 5% stockholders, additional equity offerings or redemptions of the Company’s stock or certain changes in the ownership of any of the Company’s 5% stockholders.

The Company incurred no income tax expense for the years ended December 31, 2011, 2010 and 2009, and for the period from inception through December 31, 2011. Income tax expense differs from the amount that would be expected after applying the statutory U.S. federal income tax rate primarily due to changes in the valuation allowance for deferred taxes.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 6: 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.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

Net Loss per Common Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Net Loss per Common Share

Basic net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period, without consideration of common stock equivalents. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common share equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, preferred stock, stock options and warrants are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.

The following table presents the computation of basic and diluted net loss per common share (in thousands, except share and per share data):



	Years Ended December 31,
	2011			2010			2009
Historical net loss per share
Numerator
Net loss attributable to common stockholders	$	(18,087	)	$	(16,213	)	$	(9,974	)
Denominator
Weighted-average common shares outstanding (basic and diluted)	6,064,542			3,352,331			3,159,993
Basic and diluted net loss per share	$	(2.98	)	$	(4.84	)	$	(3.16	)

The numerator was not adjusted for the stock dividend paid on the Series AA preferred stock as the impact is not material. Potentially dilutive securities not included in the calculation of diluted net loss per common share because to do so would be anti-dilutive are as follows (in common equivalent shares):



	As of December 31,
	2011	2010	2009
Preferred stock(1)	—	8,438,417	7,150,222
Common stock warrants	—	—	178,571
Common stock options	3,515,051	2,932,673	1,784,940
	3,515,051	11,371,090	9,113,733


(1)	Amounts for the Series BB, C, D and E preferred stock conversions are computed based on the initial public offering price of $7.00 per share.

Licensing Agreements

12 Months Ended

Dec. 31, 2011

Licensing Agreements [Abstract]

Licensing Agreements [Text Block]

Licensing Agreements

The Company is subject to a number of licensing agreements with respect to certain of the technologies that underlie its intellectual property. Unless otherwise noted, these agreements typically provide that the Company has exclusive rights to the use and sublicensing of the technologies in question for the duration of the intellectual property patent protection in question, subject to the Company meeting its financial and other contractual obligations under the agreements. The Company expenses all payments made under the following agreements in the period the payments occurred. For additional information regarding how the Company records payments under these agreements, see note 2(i) above. Certain of the key licensing agreements include the following:

Central Iowa Health Systems. The Company is a party to a license agreement, or the CIHS Agreement, dated August 2, 2001, with the Central Iowa Health System, or CIHS. The CIHS Agreement grants the Company an exclusive, worldwide license to make, have made, use, import, sell and offer for sale products that are covered by certain CIHS patent rights, proprietary information and know-how relating to the Company’s HyperAcute immunotherapy technology. In partial consideration of the license under the CIHS Agreement, the Company entered into a stock purchase agreement with CIHS, under which the Company issued to CIHS shares of its common stock and granted CIHS certain rights related to ownership of such shares.

In addition, the Company must reimburse CIHS for out-of-pocket costs incurred for patent prosecution and maintenance. If the Company commercializes a licensed product, it also has the obligation to pay CIHS royalties as a low single-digit percentage of net sales of the licensed product, subject to annual minimum royalties and a reduction for any royalty payments the Company must make to third parties. If the Company grants a sublicense under the licenses granted by CIHS, it must pay to CIHS a percentage of certain consideration paid by the sublicensee to the Company. Under the CIHS Agreement, the Company must use commercially reasonable efforts to develop and commercialize licensed products, to obtain necessary regulatory approvals and to launch and market such products in specified markets.

Unless terminated earlier, the CIHS Agreement shall remain in effect until the expiration of all of the Company’s royalty obligations under the agreement. The Company may terminate the agreement, or specific patents covered by the agreement, on written notice to CIHS or for CIHS’ uncured material breach of the agreement. CIHS has the right to terminate for the Company’s uncured material breach of the agreement after written notice. Upon termination of the agreement the Company may sell its existing inventory of licensed products for a period of three months after such termination.

Drexel University. The Company is party to a license agreement, or the Drexel Agreement, dated October 13, 2004 with Drexel University, or Drexel. The Drexel Agreement grants the Company, and its affiliates, an exclusive, worldwide license, under specified Drexel patent rights relating to compositions and methods for vaccines based on alpha-galactosyl epitopes, to make, have made, use, import, sell and offer for sale vaccine products that are covered by such patent rights, or that use related Drexel technical information, for use in the diagnosis and treatment of cancer, viral and other infectious disease.

In consideration of the Company’s license under the Drexel Agreement, it has paid and is obligated to continue to pay specified license fees, potential milestone payments in an aggregate amount up to approximately $1 million for each licensed product, annual license maintenance fees, reimbursement of patent prosecution costs, and royalty payments as a low single-digit percentage of “net sales” of any licensed product that is commercialized, subject to minimum royalty payments. Royalty rates vary depending on the type of licensed product, the territory where it is sold and whether the licensed product is combined with other technologies. In addition, if the Company grants a sublicense under the license granted by Drexel, it must pay Drexel a percentage of the consideration paid by the sublicensee to the Company. In accordance with a development plan included in the Drexel Agreement, the Company is obligated to use commercially reasonable efforts to develop and market products covered by the license as soon as practicable.

Unless terminated earlier, the Drexel Agreement shall remain in effect until the expiration or abandonment of all the licensed Drexel patents. The Company may terminate the Drexel Agreement on written notice to Drexel. Drexel has the right to terminate for the uncured breach of the Company’s obligations under the agreement or for certain other reasons. If the Drexel Agreement terminates the Company may, in certain circumstances, sell any remaining inventory of licensed products for a period of six months after termination.

Lankenau Institute for Medical Research—IDO-1. The Company is a party to a license agreement dated July 7, 2005, as amended May 22, 2006 and September 11, 2007, or the IDO-1 Agreement, with Lankenau Institute for Medical Research, or LIMR. The IDO-1 Agreement grants the Company an exclusive, worldwide license, under specified LIMR patent rights relating to inhibitors of indoleamine 2,3-dioxygenase, or IDO-1, and related LIMR technology, to make, have made, use, import, sell and offer for sale products that are covered by such patent rights for use in the field of animal and human therapeutics and diagnostics.

In consideration of the license grant, the Company is obligated to pay to LIMR specified license fees, annual license maintenance fees, reimbursement of past patent prosecution costs, potential milestone payments in an aggregate amount up to approximately $1.36 million for each licensed product, and royalties as a low single-digit percentage of net sales of the licensed products if a licensed product is commercialized. In addition, if the Company grants a sublicense under the IDO-1 Agreement, it must to pay to LIMR a percentage of the consideration received by the Company from the sublicensee. Under the IDO-1 Agreement, the Company is obligated to use commercially reasonable efforts to develop and market the licensed products, and to achieve certain milestones by agreed-upon deadlines.

Unless terminated earlier, the IDO-1 Agreement shall remain in effect until the expiration of the last licensed LIMR patents. LIMR may terminate the agreement for the Company’s failure to achieve specified milestones, failure to make payments due, bankruptcy or similar proceedings. Upon termination of the agreement, the Company may sell its current inventory of licensed products and those licensed products in the process of manufacture, subject to the terms of the agreement.

Georgia Health Sciences University. The Company is a party to a License Agreement dated September 13, 2005, or the GHS Agreement, with Georgia Health Sciences University, formerly known as the Medical College of Georgia Research Institute, or GHS, which was amended on April 27, 2006 and February 13, 2007. The GHS Agreement grants the Company, including its affiliates, an exclusive, worldwide license, under specified GHS patent rights and related technology to make, have made, use, import, sell and offer for sale products that are covered by licensed patent rights or incorporates or uses licensed technology in all medical applications.

In consideration of such license grant, the Company is obligated to pay to GHS specified license fees (including issuing shares of its common stock), annual license maintenance fees, reimbursement of patent prosecution costs, potential milestone payments in an aggregate amount up to approximately $2.8 million per licensed product, and royalties as a single-digit percentage of net sales of the licensed products, subject to minimum royalty payments and royalty rates depending on the type of license product. In addition, if the Company grants a sublicense under the license granted by GHS, it must pay to GHS a percentage of the consideration it receives from the sublicensee. Under the agreement, the Company is obligated to make certain investments toward the further development of licensed products within specified time periods.

Unless terminated earlier, the GHS Agreement will remain in effect until the expiration of the last licensed GHS patents. GHS may terminate this agreement for the Company’s uncured material breach, bankruptcy or similar proceedings. The Company may terminate this agreement for the uncured material breach of GHS. For a period of one year following the termination of the agreement, the Company may sell its licensed products that are fully manufactured and part of its normal inventory at the date of termination.

LIMR—IDO-2. The Company is a party to a license agreement, or the LIMR IDO-2 Agreement, executed December 21, 2007 with LIMR. The LIMR IDO-2 Agreement grants the Company an exclusive, worldwide license, under specified LIMR patent rights relating to inhibitors of the target Indoleamine 2,3 Dioxygenase-2, or IDO-2, and under related LIMR know-how or technology, to make, have made, use, import, sell and offer for sale products and services that are covered by such patent rights, for all uses.

In consideration of the license grant, the Company has paid to LIMR an upfront license fee and annual license maintenance fees, and is obligated to pay LIMR annual license maintenance fees, potential milestone payments in an aggregate amount up to approximately $1.52 million per licensed product, subject to reductions if milestones also qualify under the IDO-1 Agreement, and, if a licensed product is commercialized, royalties as a low single-digit percentage of “net sales” of the licensed product, subject to reduction for the Company’s royalty payments to third parties. In addition, if the Company grants a sublicense under the licenses granted by LIMR, it must pay to LIMR a percentage of the consideration paid by the sublicensee to the Company. Under the LIMR IDO-2 Agreement, the Company has agreed to use its commercially reasonable efforts to develop and exploit products covered by the license.

Unless terminated earlier, the LIMR IDO-2 Agreement shall continue until the expiration of the last valid LIMR patent licensed under the agreement. The Company may terminate the Agreement on written notice to LIMR. LIMR has the right to terminate for the Company’s uncured material breach, failure to pay, or bankruptcy or similar proceedings. Upon termination of the agreement, The Company may sell its current inventory of licensed products and those licensed products in the process of manufacture, subject to the terms of the agreement.

2009 LIMR Exclusive License Agreement. The Company is a party to a license agreement, or the 2009 LIMR Agreement, dated April 23, 2009 with LIMR. The 2009 LIMR Agreement grants the Company an exclusive, worldwide license, under specified LIMR patent rights relating to IDO inhibitors, and under related LIMR know-how or technology, to make, have made, use, import, sell and offer for sale products and services that are covered by such patent rights, for all uses. In consideration of such license grant, the Company is obligated to pay LIMR potential milestone payments in an aggregate amount up to approximately $610,000 per licensed product, subject to reductions if milestones also qualify under the IDO-1 Agreement or LIMR IDO-2 Agreement, and royalties as a low single-digit percentage of “net sales” of the licensed product, subject to reduction for the Company’s royalty payments to third parties and to LIMR under the IDO-1 Agreement or LIMR IDO-2 Agreement. In addition, if the Company grants a sublicense under the licenses granted by LIMR, it must pay to LIMR a percentage of the consideration paid by the sublicensee to us.

Unless terminated earlier, the LIMR IDO Agreement shall continue until the expiration of the last valid LIMR patent licensed under the agreement. The Company may terminate the Agreement on written notice to LIMR. LIMR has the right to terminate for the Company’s uncured material breach, failure to pay, or bankruptcy or similar proceedings. Upon termination of the agreement, the Company may sell its current inventory of licensed products and those licensed products in the process of manufacture, subject to the terms of the agreement.

Bresagen Patent License Agreement. The Company is a party to a license agreement, or the Bresagen Agreement, dated March 1, 2006 with Bresagen Xenograft Marketing Ltd, or Bresagen. The Bresagen Agreement grants the Company a non-exclusive, non-sublicensable license to specified Bresagen patent rights for use in testing microbial and cancer vaccines. In consideration of such license grant, the Company is obligated to pay Bresagen an up front license fee and an annual license fee.

Unless terminated earlier, the Bresagen Agreement shall continue for an initial period of eight years, which may be extended an additional five years upon agreement of the parties. Either party may terminate the Agreement at any time by agreement in writing, each party not to unreasonably withhold its consent for termination. Bresagen has the right to terminate for the Company’s uncured breach, insolvency, change of control without consent or similar proceedings. Upon termination of the agreement, all of the Company’s rights under the license are terminated.

During 2010, the Company issued 23,810 shares to Reconstitute, LLC as consideration for terminating a licensing agreement and for performance of certain provisions of the license agreement prior to termination. The fair value of the shares issued was approximately $201,000.

Under the above license agreements we are obligated to make potential milestone payments as listed in the following table. These obligations are contingent upon achieving the applicable milestone event, the timing of which cannot presently be determined.



Licensor		Aggregate potential milestone payments
Drexel University		$1 million per licensed product

Lankenau Institute for Medical Research under the IDO-1 Agreement (1)		$1.36 million per licensed product

Lankenau Institute for Medical Research under the LIMR IDO-2 Agreement (1)		$1.52 million per licensed product, subject to reductions if milestones also qualify under the IDO-1 Agreement

Lankenau Institute for Medical Research under the 2009 LIMR Agreement (1)		$610,000 per licensed product, subject to reductions if milestones also qualify under the IDO-1 Agreement or LIMR IDO-2 Agreement

Georgia Health Sciences University		$2.8 million per licensed product

Regents of the University of California		$285,000 per licensed product

Her Majesty the Queen in Right of Canada		C$205,000 per licensed product

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2011
Employee Benefit Plans [Abstract]
Compensation and Employee Benefit Plans [Text Block]	Employee Benefit Plans The Company sponsors a 401(k) plan, which includes a defined contribution feature. The Company contributed $157,000, $137,000, $90,000 and $665,000 for the years ended December 31, 2011, 2010 and 2009 and from inception through December 31, 2011, respectively. On October 29, 2010, the Company approved employment agreements for certain executives that provide for the payment of 24, 12 or 6 months of base salary upon termination of the executive in certain circumstances and group health insurance premiums plus accrued obligations. The agreements include provisions to accelerate the vesting of stock options subject to certain events including those related to a change in control.

Related-Party Transactions	12 Months Ended
Related-Party Transactions	Dec. 31, 2011
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Related-Party Transactions As of December 31, 2009, the Company was owed $850,000 in various notes receivable and $25,000 in notes receivable for common stock by its executive management team. The notes carried interest rates ranging from 2.42% to 6.00% and matured within the next 16 months. On May 7, 2010, the Board of Directors voted to forgive notes receivable and related outstanding interest from two officers. The remaining balances were repaid. Bonuses of $192,236 were paid to cover the resulting tax liabilities for these individuals. To offset the forgiveness, outstanding options held by the officers to purchase common stock were modified to increase the aggregate exercise price by $592,406 on July 1, 2010. Certain purchasing activities are outsourced to a company owned by an immediate family member of the Company’s VP of Finance. Total purchases through this related party were $22,000, $40,000, $30,000 and $292,000 for the years ended December 31, 2011, 2010 and 2009 and from inception through December 31, 2011. The Company paid fees to this related party for consulting services of approximately $0, $0, $0 and $7,000 for the years ended December 31, 2011, 2010 and 2009 and from inception through December 31, 2011, respectively.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 7: 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.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

+ Details

Acquisition of BioProtection Systems Corporation	12 Months Ended
Acquisition of BioProtection Systems Corporation	Dec. 31, 2011
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisition of BioProtection Systems Corporation On January 7, 2011, NewLink acquired all of the minority interest in BPS, by merging a newly-formed subsidiary of NewLink’s with BPS, with BPS as the surviving corporation. In connection with this transaction, NewLink issued an aggregate of 276,304 shares of NewLink’s Series E preferred stock with a value of $8.6 million to the former holders of BPS Series B common stock, Series A preferred stock and Series B preferred stock (other than NewLink). 221,066 of the shares of NewLink’s Series E preferred stock were issued to the holders of the BPS Series B common stock, Series A preferred stock and Series B preferred stock upon the closing of the merger. The remaining 55,238 shares of NewLink’s Series E preferred stock were held back to satisfy any indemnity obligations under the merger agreement. There were no indemnity obligations owed to BPS and these remaining shares were issued on August 12, 2011 to the former stockholders of BPS. As a result of this transaction, BPS became a wholly-owned subsidiary of NewLink. All options to purchase shares of BPS common stock became options to purchase NewLink’s common stock. As part of the merger agreement, each outstanding BPS option was converted into the right to receive the number of NewLink options equal to the product of (A) the number of shares of BPS common stock subject to such BPS option multiplied by (B) a fraction, the numerator of which is $1.0825 and the denominator of which is $8.44, which was the fair market value of one share of NewLink common stock on September 30, 2010. The Series E preferred stock was issued with similar price and terms as the shares sold to third-parties in December 2010. See note 8. As NewLink and BPS are under common control, the acquisition was treated as an equity transaction. The net assets of BPS had a book value of $2.9 million. The remaining amount paid of $5.7 million was recorded as a reduction of additional paid-in capital. No gain or loss was recorded as a result of this transaction.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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-Name Emerging Issues Task Force (EITF)
-Number 88-16
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+ Details

Reverse Stock Split	12 Months Ended
Reverse Stock Split	Dec. 31, 2011
Reverse Stock Split [Abstract]
Reverse Stock Split [Text Block]	Reverse Stock Split On October 19, 2011, the Company’s board of directors approved a 2.1-for-one reverse split of the Company’s common stock to be effected prior to the effective date of the Company’s IPO. In connection with the reverse split, the Company filed a Certificate of Amendment of the Restated Certificate of Incorporation with the Secretary of State of Delaware on October 25, 2011 making the reverse split effective. All share and per share amounts have been retroactively restated in the accompanying financial statements and notes for all periods presented.

Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2011

17. Quarterly Financial Information (Unaudited) [Abstract]

Quarterly Financial Information [Text Block]

Quarterly Financial Information (Unaudited)



	First			Second			Third			Fourth
	(In thousands, except per share data)

Year Ended December 31, 2011
Grant revenue	$	604		$	537		$	430		$	301
Loss from operations	(3,892		)	(4,394		)	(3,972		)	(5,804		)
Net loss	(3,898		)	(4,394		)	(3,986		)	(5,810		)
Net loss attributable to NewLink	(3,897		)	(4,394		)	(3,986		)	(5,810		)
Net loss per share	$	(1.07	)	$	(1.20	)	$	(1.09	)	$	(0.44	)

Year Ended December 31, 2010
Grant revenue	$	323		$	407		$	375		$	974
Loss from operations	(3,287		)	(3,963		)	(5,112		)	(4,299		)
Net loss	(3,271		)	(3,967		)	(5,066		)	(4,258		)
Net loss attributable to NewLink	(3,234		)	(3,853		)	(5,031		)	(4,095		)
Net loss per share	$	(1.01	)	$	(1.21	)	$	(1.49	)	$	(1.12	)

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Commitments	12 Months Ended
Commitments	Dec. 31, 2011
Commitments [Abstract]
Commitments Disclosure [Text Block]	Commitments On November 14, 2011, the Company entered into a Standard Design-Build Agreement (the “Design-Build Agreement”) with Story Construction Co. (“Story Construction”). Under the Design-Build Agreement, Story Construction will provide construction services to finish approximately 14,000 square feet of the additional space adjoining the Company’s existing facilities in Ames, Iowa. The estimated cost of these improvements is $1.3 million.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2011
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Events An additional 823,649 shares of common stock were added to the shares reserved for future issuance under the Company’s 2009 Equity Incentive Plan as of January 1, 2012. The shares reserved were increased pursuant to an “evergreen provision” on January 1 of each year, from 2012 to (and including) 2019, in an amount equal to 4% of the total number of shares of Common Stock outstanding on December 31 of the preceding calendar year. On March 26, 2012, the Company entered into a Settlement Agreement (the “IEDA Agreement”) with the Iowa Economic Development Authority (“IEDA”), as successor in interest to the Iowa Department of Economic Development (“IDED”). Under the terms of the IEDA Agreement, the forgivable loan agreement between the Company and IEDA (as successor to IDED) was terminated and the Company was thereby released from the forgivable loan agreement's job creation, project expenditure, royalty and other requirements in exchange for agreeing to pay a royalty of 0.50% on all gross revenues of any products that the Company brings to market, with a cumulative maximum royalty obligation due of $6.8 million. Additionally, under the IEDA Agreement, the IEDA released its security interest in the Company's assets. The Company is obligated to maintain its business in the State of Iowa until the royalty obligation under the IEDA Agreement is satisfied. On March 27, 2012, NewLink Genetics Corporation (the “Company”) entered into a Cooperative Research and Development Agreement (the “Agreement”), with the National Cancer Institute (“NCI”). The Agreement provides for certain development efforts by the Company and NCI with respect to the Company's 1-methyl-D-tryptophan product candidate (“D-1MT). These development efforts were previously conducted under a letter of intent dated May 7, 2007 (the “Effective Date”) for a Cooperative Research and Development Agreement between the Company and NCI (the “LOI”) and have consisted to date of primarily preclinical and Phase 1 clinical development of D-1MT. The Agreement replaces the LOI and its terms and governs the parties' development activities from and after the Effective Date of the LOI. The Agreement requires that the Company provide to NCI specified funding upon achievement of certain milestones in an aggregate amount up to approximately $500,000. In addition, the Company must make an initial payment to NCI and pay certain annual fees to NCI under the Agreement. The Company is also required under the Agreement to supply D-1MT to NCI for certain approved activities under the Agreement.