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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Nov. 05, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Gemphire Therapeutics Inc.
Entity Central Index Key	0001638287
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		14,265,411
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true

Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 23,806	$ 18,473
Prepaid expenses	1,033	490
Deferred offering costs	9	21
Other assets	14	25
Total current assets	24,862	19,009
Deposits	8	8
Total assets	24,870	19,017
Current liabilities:
Accounts payable	2,351	4,025
Accrued liabilities	1,585	1,010
Term loan - current portion	3,681	1,355
Total current liabilities	7,617	6,390
Long-term liabilities:
Term loan	6,398	8,683
Other liabilities	2	3
Total liabilities	14,017	15,076
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized as of September 30, 2018 and December 31, 2017, no shares issued or outstanding as of September 30, 2018 and December 31, 2017.
Common stock, $0.001 par value; 100,000,000 shares authorized as of September 30, 2018 and December 31, 2017, 14,265,411 and 10,633,042 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively.	22	18
Additional paid in capital	91,286	64,397
Accumulated deficit	(80,455)	(60,474)
Total stockholders’ equity	10,853	3,941
Total liabilities and stockholders’ equity	$ 24,870	$ 19,017

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Condensed Balance Sheets
Preferred stock, par value (in dollar per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollar per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	14,265,411	10,633,042
Common stock, shares outstanding	14,265,411	10,633,042

Condensed Statements of Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
Condensed Statements of Comprehensive Loss - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating expenses:
General and administrative	$ 2,364,000	$ 2,050,000	$ 7,025,000	$ 8,951,000
Research and development	3,542,000	6,489,000	12,479,000	17,606,000
Total operating expenses	5,906,000	8,539,000	19,504,000	26,557,000
Loss from operations	(5,906,000)	(8,539,000)	(19,504,000)	(26,557,000)
Interest expense, net	(172,000)	(132,000)	(476,000)	(107,000)
Other expense	(1,000)		(1,000)	(5,000)
Loss before income taxes	(6,079,000)	(8,671,000)	(19,981,000)	(26,669,000)
Provision (benefit) for income taxes	0	0	0	0
Net loss	(6,079,000)	(8,671,000)	(19,981,000)	(26,669,000)
Other comprehensive loss, net of tax	0	0	0	0
Comprehensive loss	$ (6,079,000)	$ (8,671,000)	$ (19,981,000)	$ (26,669,000)
Net loss per share:
Basic and diluted (Note 9)	$ (0.43)	$ (0.82)	$ (1.46)	$ (2.60)
Number of shares used in per share calculations:
Basic and diluted	14,259,691	10,623,601	13,650,556	10,253,437

Condensed Statements of Changes in Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Common Stock Private placement	Common Stock	Additional Paid-in Capital Private placement	Additional Paid-in Capital	Accumulated Deficit	Private placement	Total
Balance at beginning of period at Dec. 31, 2016		$ 17		$ 47,674	$ (27,059)		$ 20,632
Balance at end of period (shares) at Mar. 31, 2017		10,596,838
Balance at beginning of period (shares) at Dec. 31, 2016		9,270,255
Increase (Decrease) in Stockholders' Equity
Issuance of common stock	$ 1		$ 8,978			$ 8,979
Issuance of common stock (in shares)	1,324,256
Issuance of detachable stock warrants in connection with private placement offering			3,562			3,562
Issuance costs			(1,219)			(1,219)
Exercise of stock options				3			3
Exercise of stock options (in shares)		2,327
Share-based compensation - employee				829			829
Share-based compensation - non-employee				7			7
Net loss					(7,496)		(7,496)
Balance at end of period at Mar. 31, 2017		$ 18		59,834	(34,555)		25,297
Balance at beginning of period at Dec. 31, 2016		$ 17		47,674	(27,059)		$ 20,632
Balance at end of period (shares) at Sep. 30, 2017		10,633,042
Balance at beginning of period (shares) at Dec. 31, 2016		9,270,255
Increase (Decrease) in Stockholders' Equity
Exercise of warrants (in shares)							0
Net loss							$ (26,669)
Balance at end of period at Sep. 30, 2017		$ 18		63,659	(53,728)		9,949
Balance at beginning of period at Dec. 31, 2016		$ 17		47,674	(27,059)		20,632
Balance at end of period (shares) at Dec. 31, 2017		10,633,042
Balance at beginning of period (shares) at Dec. 31, 2016		9,270,255
Balance at end of period at Dec. 31, 2017		$ 18		64,397	(60,474)		3,941
Balance at beginning of period at Mar. 31, 2017		$ 18		59,834	(34,555)		25,297
Balance at end of period (shares) at Jun. 30, 2017		10,607,361
Balance at beginning of period (shares) at Mar. 31, 2017		10,596,838
Increase (Decrease) in Stockholders' Equity
Issuance costs			(38)			(38)
Exercise of stock options				10			10
Exercise of stock options (in shares)		10,523
Share-based compensation - employee				2,955			2,955
Share-based compensation - non-employee				8			8
Net loss					(10,502)		(10,502)
Balance at end of period at Jun. 30, 2017		$ 18		62,769	(45,057)		17,730
Balance at end of period (shares) at Sep. 30, 2017		10,633,042
Balance at beginning of period (shares) at Jun. 30, 2017		10,607,361
Increase (Decrease) in Stockholders' Equity
Issuance of detachable stock warrants in connection with private placement offering				156			156
Exercise of warrants (in shares)		15,000
Issuance costs			$ (30)			$ (30)
Exercise of stock options				28			28
Exercise of stock options (in shares)		10,681
Share-based compensation - employee				726			726
Share-based compensation - non-employee				10			10
Net loss					(8,671)		(8,671)
Balance at end of period at Sep. 30, 2017		$ 18		63,659	(53,728)		9,949
Balance at beginning of period at Dec. 31, 2017		$ 18		64,397	(60,474)		3,941
Balance at end of period (shares) at Mar. 31, 2018		14,232,313
Balance at beginning of period (shares) at Dec. 31, 2017		10,633,042
Increase (Decrease) in Stockholders' Equity
Issuance of common stock		$ 4		25,146			$ 25,150
Issuance of common stock (in shares)		3,592,858					3,592,858
Issuance costs				(2,093)			$ (2,093)
Exercise of stock options				23			23
Exercise of stock options (in shares)		6,413
Share-based compensation - employee				1,019			1,019
Share-based compensation - non-employee				1			1
Net loss					(7,224)		(7,224)
Balance at end of period at Mar. 31, 2018		$ 22		88,493	(67,698)		20,817
Balance at beginning of period at Dec. 31, 2017		$ 18		64,397	(60,474)		$ 3,941
Balance at end of period (shares) at Sep. 30, 2018		14,265,411
Balance at beginning of period (shares) at Dec. 31, 2017		10,633,042
Increase (Decrease) in Stockholders' Equity
Exercise of warrants (in shares)							0
Net loss							$ (19,981)
Balance at end of period at Sep. 30, 2018		$ 22		91,286	(80,455)		10,853
Balance at beginning of period at Mar. 31, 2018		$ 22		88,493	(67,698)		20,817
Balance at end of period (shares) at Jun. 30, 2018		14,232,313
Balance at beginning of period (shares) at Mar. 31, 2018		14,232,313
Increase (Decrease) in Stockholders' Equity
Share-based compensation - employee				908			908
Share-based compensation - non-employee				1			1
Net loss					(6,678)		(6,678)
Balance at end of period at Jun. 30, 2018		$ 22		89,402	(74,376)		15,048
Balance at end of period (shares) at Sep. 30, 2018		14,265,411
Balance at beginning of period (shares) at Jun. 30, 2018		14,232,313
Increase (Decrease) in Stockholders' Equity
Issuance of detachable stock warrants in connection with private placement offering				196			196
Exercise of stock options				61			61
Exercise of stock options (in shares)		33,098
Share-based compensation - employee				1,626			1,626
Share-based compensation - non-employee				1			1
Net loss					(6,079)		(6,079)
Balance at end of period at Sep. 30, 2018		$ 22		$ 91,286	$ (80,455)		$ 10,853

Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
Statements of Cash Flows - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Operating activities
Net loss	$ (19,981)	$ (26,669)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	3,556	4,535
Non-cash discount amortization on term loan	247	58
Change in assets and liabilities:
Prepaid expenses and other assets	(520)	(150)
Accounts payable	(1,674)	2,241
Accrued and other liabilities	574	(156)
Net cash used in operating activities	(17,798)	(20,141)
Financing activities
Proceeds from issuance of term loan		10,000
Issuance costs related to term loan	(10)	(33)
Exercise of stock options	84	41
Exercise of warrants		156
Proceeds from sale of common stock	25,150	12,541
Issuance costs	(2,093)	(1,257)
Net cash provided by financing activities	23,131	21,448
Net increase (decrease) in cash and cash equivalents	5,333	1,307
Cash and cash equivalents at beginning of period	18,473	24,033
Cash and cash equivalents at end of period	23,806	25,340
Supplemental disclosure of cash flow information:
Cash paid for interest	358	46
Supplemental non-cash financing transactions:
Issuance of warrants in connection with term loan	$ 196
Issuance costs related to term loan and offering in accounts payable and accrued liabilities		$ 89

The Company and Basis of Presentation	9 Months Ended
The Company and Basis of Presentation	Sep. 30, 2018
The Company and Basis of Presentation
The Company and Basis of Presentation	1. The Company and Basis of Presentation The Company, headquartered in Livonia Michigan, is a clinical‑stage biopharmaceutical entity focused on developing and commercializing therapies for the treatment of dyslipidemia, a serious medical condition that increases the risk of life threatening cardiovascular disease, including orphan indications as well as NAFLD/NASH (nonalcoholic fatty liver disease). The Company’s primary activities to date have been conducting research and development activities, planning and conducting clinical trials, performing business and financial planning, recruiting personnel and raising capital. The Company is subject to certain risks, which include the need to research, develop, and clinically test potentially therapeutic products, initially one product candidate gemcabene (also known as CI‑1027); obtain regulatory approval for its products and commercialize them around the world, if approved; expand its management scientific staff; finance its operations; and find collaboration partners to further advance development and commercial efforts. Initial Public Offering On August 4, 2016, the Company’s Registration Statement on Form S-1 (File No 333-210815) relating to its initial public offering (IPO) of its common stock was declared effective by the Securities and Exchange Commission (SEC). Pursuant to such Registration Statement, on August 10, 2016, the Company closed its IPO whereby 3,000,000 shares of its common stock were issued and sold at a public offering price of $10.00 per share. On September 8, 2016, the Company closed the sale of 27,755 shares of its common stock at the public offering price of $10.00 per share, representing a partial exercise of the underwriters’ over-allotment option, following which, the IPO terminated. The Company received net proceeds of approximately $26.1 million after deducting underwriting discounts and commissions of $2.1 million and other offering expenses of $2.1 million. Immediately prior to the IPO, the Company amended and restated its certificate of incorporation and bylaws to, among other things, change its authorized capital stock to consist of (i) 100,000,000 shares of common stock and (ii) 10,000,000 shares of undesignated preferred stock. Both the common stock and the preferred stock have a par value of $0.001 per share. Private Placement Offering On March 10, 2017, the Company entered into a securities purchase agreement for a private placement (the Private Placement) with a select group of accredited investors whereby, on March 15, 2017 the Company issued and sold 1,324,256 units at a price of $9.47 per unit for gross proceeds of approximately $12.5 million. Each unit consists of one share of the Company’s common stock and a warrant to purchase 0.75 shares of common stock. The warrants have an exercise price of $10.40 per share and are exercisable for a period of five years from the date of issuance. On April 20, 2017, the registration statement on Form S-1 (File No 333-217296) for the resale of the shares of common stock issued in the Private Placement and the shares of common stock to be issued upon exercise of the warrants issued in the Private Placement was declared effective by the SEC, and on September 1, 2017, the Company filed a post-effective amendment to convert the registration statement into Form S-3 for the registration of any unsold Private Placement shares, which included an updated prospectus relating to such unsold shares. Follow-On Public Offering On February 12, 2018, the Company completed an underwritten public offering (the Follow-On Offering) of 3,142,858 shares of common stock at the public offering price of $7.00 per share. As part of such offering, the Company issued 450,000 additional shares of common stock representing partial exercise of the underwriters’ overallotment option. The Company received net proceeds of approximately $23.1 million after deducting underwriting discounts and commissions and offering expenses. Capital Requirements The Company has sustained operating losses since inception and expects such losses to continue over the next several years. Management plans to continue financing the Company’s operations with equity and/or debt issuances. The Company’s management believes the Company’s cash and cash equivalents on hand, are adequate to fund the Company’s operations for at least the next 12 months. If adequate funds are not available, the Company may be required to delay, reduce the scope of, or eliminate part or all of its research and development programs. Basis of Presentation The accompanying condensed financial statements have been prepared by the Company, without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to such rules and regulations. The condensed financial statements may not include all disclosures required by U.S. GAAP; however, the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited condensed financial statements should be read in conjunction with the audited financial statements and the notes thereto for the fiscal year ended December 31, 2017 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 20, 2018. The condensed balance sheet at December 31, 2017 was derived from the audited financial statements. In the opinion of management, all adjustments, consisting of only normal recurring adjustments that are necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, have been made. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future periods.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2018

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Use of Estimates

The preparation of condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed financial statements and accompanying notes. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of deposit to be cash equivalents. The Company invests excess cash in readily available checking and savings accounts and invests in highly liquid investments in money market accounts.

Fair Value of Financial Instruments

The Company’s condensed financial instruments include principally cash and cash equivalents, other assets, accounts payable, accrued liabilities and debt. The carrying amounts for these condensed financial instruments reported in the balance sheets approximate their fair values. See Note 10 — Fair Value Measurements, for further discussion of fair value.

General and Administrative Expenses

General and administrative expenses consist primarily of personnel‑related costs, including salaries and share‑based compensation costs, for personnel in functions not directly associated with research and development activities. Other significant costs include legal fees related to intellectual property and corporate matters and professional fees for accounting and other services.

Research and Development Expenses

Research and development expenses consist of costs incurred in performing research and development activities, including compensation for research and development employees, costs associated with preclinical studies and trials, regulatory activities, manufacturing activities to support clinical activities, license fees, non‑legal patent costs, fees paid to external service providers that conduct certain research and development, clinical costs and an allocation of overhead expenses. Research and development costs are expensed as incurred.

Income Taxes

The Company utilizes the liability method of accounting for income taxes as required by Accounting Standards Codification (ASC) 740, Income Taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and the tax basis of assets and liabilities and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. Currently, there is no provision for income taxes, as the Company has incurred operating losses to date, and a full valuation allowance has been provided on the net deferred tax assets.

Share‑Based Compensation

The Company accounts for share‑based compensation in accordance with the provisions of ASC 718, Compensation — Stock Compensation (ASC 718). Accordingly, compensation costs related to equity instruments granted are recognized at the grant‑date fair value. The Company records forfeitures when they occur. Share‑based compensation arrangements to non‑employees are accounted for in accordance with the applicable provisions of ASC 718 and ASC 505, Equity, using a fair value approach. The compensation costs of these arrangements are subject to re‑measurement as the equity instruments vest and are recognized as expense over the related service period (typically the vesting period of the awards).

Segment Information

Operating segments are components of an enterprise for which separate financial information is available and is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s Chief Executive Officer views the Company’s operations and manages its business in one operating segment, which is the business of development and commercialization of therapeutics for the treatment of dyslipidemia, a serious medical condition that increases the risk of life threatening cardiovascular disease including orphan indications and NAFLD/NASH. Accordingly, the Company has a single reporting segment.

Jumpstart Our Business Startups Act Accounting Election

As an emerging growth company under the Jumpstart Our Business Startups Act (JOBS Act), the Company is eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies. The Company has irrevocably elected not to avail itself of this exemption and, therefore, will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

Recently Adopted Accounting Pronouncements

In November 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The objective of this ASU is to eliminate the diversity in practice related to the classification of restricted cash or restricted cash equivalents in the statement of cash flows. For public business entities, this ASU is effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption permitted. The amendments in this update should be applied retrospectively to all periods presented. The Company adopted this standard on January 1, 2018 and it did not have a material impact on the Company’s financial statements.

In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting (ASU 2016-09), which provides guidance about which changes to the terms or conditions of a share-based payment awards require an entity to apply modification accounting in Topic 718. This pronouncement is effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted. The Company has adopted this standard on January 1, 2018 and it did not have a material impact on the Company’s financial statements.

In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740), that codified the SEC Staff Accounting Bulletin 118 (SAB 118) issued on December 22, 2017, which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (the TCJA). SAB 118 provides a measurement period that should not extend beyond one year from the enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the TCJA for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the TCJA is incomplete, but for which they are able to determine a reasonable estimate, it must record a provisional amount in the financial statements. Provisional treatment is proper in light of anticipated additional guidance from various taxing authorities, the SEC, the FASB, and even the Joint Committee on Taxation. If a company cannot determine a provisional amount to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the TCJA. The Company has applied this guidance to its financial statements.

In May 2014, the FASB issued ASU 2014‑09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in FASB ASC 605. The new guidance primarily states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. In January 2017 and September 2017, the FASB issued several amendments to ASU 2014‑09, including updates stemming from SEC Accounting Staff Announcement in July 2017. The amendments and updates included clarification on accounting for principal versus agent considerations (i.e., reporting gross versus net), licenses of intellectual property and identification of performance obligations. These amendments and updates do not change the core principle of the standard but provide clarity and implementation guidance. The Company has adopted this standard on January 1, 2018 and selected the modified retrospective transition method. The Company modified its accounting policies to reflect the requirements of this standard; however, the planned adoption will not affect the Company’s financial statements and related disclosures for these periods or future periods until the Company generates revenues.

Recent Accounting Pronouncements Not Yet Adopted

In January 2016, the FASB issued ASU No. 2016‑01, Financial Instruments — Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. The guidance affects the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements of financial instruments. The guidance is effective in the first quarter of fiscal 2019. Early adoption is permitted for the accounting guidance on financial liabilities under the fair value option. The Company is currently evaluating the impact of the new guidance on its financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) and subsequently amended the guidance relating largely to transition considerations under the standard in January 2017 and July 2018. The objective of this update is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those annual periods and is to be applied utilizing a modified retrospective approach. The Company is currently evaluating the new guidance to determine the impact it may have on its financial statements.

In July 2017, the FASB issued ASU No. 2017-11, Earnings Per Share, Distinguishing Liabilities from Equity and Derivatives and Hedging, which changes the accounting and earnings per share for certain instruments with down round features. The amendments in this ASU should be applied using a cumulative-effect adjustment as of the beginning of the fiscal year or retrospective adjustment to each period presented and is effective for annual periods beginning after December 15, 2018, and interim periods within those periods. The Company is currently evaluating the requirements of this new guidance and has not yet determined its impact on the Company’s financial statements.

In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (ASU 2018-07), which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should generally apply the requirements of Topic 718 to nonemployee awards except in circumstances where there is specific guidance on inputs to an option pricing model and the attribution of cost. ASU 2018-07 specifies that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The guidance also clarifies that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606. This guidance is effective for annual reporting periods beginning after December 15, 2018, with early adoption permitted, but no earlier than an entity’s adoption date of Topic 606. The Company is currently evaluating the impact of the new guidance on its financial statements.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (ASU 2018-13). The new guidance modifies the disclosure requirements in Topic 820 as follows:

Removals: the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy; the policy for timing of transfers between levels; and the valuation processes for Level 3 fair value measurements.

Modifications: for investments in certain entities that calculate net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse only if the investee has communicated the timing to the entity or announced the timing publicly; and the amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date.

Additions: the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period; and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements.

This guidance is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should all be applied prospectively for only the most recent interim or annual period presented in the initial year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. An entity is permitted to early adopt any removed or modified disclosures upon issuance of ASU 2018-13 and delay adoption of the additional disclosures until their effective date. The Company is currently evaluating the impact of the new guidance on its financial statements.

Accrued Liabilities

9 Months Ended

Sep. 30, 2018

Accrued Liabilities

Accrued Liabilities

3. Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	September 30,		December 31,
	2018		2017
Accrued compensation and other payroll liabilities	$	368	$	306
Workforce reduction severance		360		—
Legal costs		109		91
Accrued interest		42		38
Other research and development expenses		674		522
Other general and administrative expenses		32		53
Total	$	1,585	$	1,010

The workforce reduction severance resulted from the Company’s Board of Directors approval on September 18, 2018 of a workforce reduction involving 5 employees (or 33% of the workforce at that time) to lower costs and conserve cash resources in light of the previously announced request by the Food and Drug Administration (FDA) for additional pre-clinical data required in order to schedule an End of Phase 2 (EOP2) meeting for gemcabene in the Company’s target indications. Related expenses recognized during the quarter totaled approximately $1.3 million, of which approximately $0.6 million was recorded as general and administrative expense and $0.7 million was recorded as research and development expense. $360,000 remained unpaid at the end of the third quarter.

Debt

9 Months Ended

Sep. 30, 2018

Debt

Debt

4. Debt

Term Loan

On July 24, 2017, the Company entered into a Loan and Security Agreement (the Loan Agreement) with Silicon Valley Bank (SVB) for a term loan of up to $15.0 million (the Term Loan), subject to funding in several tranches. The Company drew the initial tranche of $10.0 million on July 24, 2017. An additional tranche of $5.0 million (Tranche C) may have been available to be drawn by the Company through July 31, 2018 conditioned on the occurrence of certain clinical and pre-clinical milestones. Certain provisions of the Loan Agreement were conditioned on a pre-clinical event (as defined below) occurring by July 31, 2018. A pre-clinical event had not occurred as of July 31, 2018 and, on such date, the Company and SVB amended the Loan Agreement (the Loan Amendment).

As amended by the Loan Amendment, all amounts advanced under the Term Loan mature on February 1, 2021 and have an interest-only monthly payment period through November 1, 2018 (previously August 1, 2018); the interest-only period may be extended to February 1, 2019 conditioned on the occurrence of both a positive clinical trial event (evidence of which was provided to SVB on November 10, 2017) and a pre-clinical event. Following the interest-only payment period, the Company must begin making monthly payments of principal and interest until the maturity date. A pre-clinical event had not occurred as of November 1, 2018, and the Company began making monthly payments of principal and interest. See Note 14 – Subsequent Events.

Interest will accrue on the unpaid principal balance at a floating per annum rate equal to the prime rate, except that, following an event of default, interest will accrue at a rate up to 5% above the rate that is otherwise applicable. The prime rate in effect for the nine month period ending September 30, 2018 ranged from 4.5% to 5.25%. Lastly, debt issue costs that were incurred upon the July 2017 issuance of the Term Loan in the amount of $0.1 million were recorded as a discount to the Term Loan and are being amortized ratably to interest expense over the term of the loan.

The Company’s obligations under the Loan Agreement may be accelerated by SVB upon the occurrence of an event of default. An event of default includes customary events for a financing arrangement of this type, including, without limitation, payment defaults, defaults in the performance of affirmative or negative covenants, bankruptcy or related defaults, defaults on certain other indebtedness, defaults under certain other agreements, the imposition of judgments or penalties, the material inaccuracy of representations or warranties, material adverse changes and revocations of government approvals.

As amended by the Loan Amendment, the Loan Agreement requires the Company to pay the following fees: (i) upon the maturity, acceleration or prepayment of the Term Loan, a final payment fee of 10% of the funded principal amount of the Term Loan which was recorded as a liability upon issue and then discounted to be subsequently amortized ratably to interest expense over the term of the loan, (ii) a success fee of 3.5% of the funded principal amount of the Term Loan in the event any of the following occur prior to 5:00 pm Eastern Time on July 24, 2024: (a) the Company receives FDA approval for any new drug application for gemcabene, (b) a sale or other transfer of all or substantially all of the assets of the Company occurs, (c) a merger or consolidation of the Company with or into another person or entity occurs where the holders of the Company’s outstanding voting equity securities immediately prior to such merger or consolidation hold less than a majority of the issued and outstanding voting equity securities of the successor immediately following such transaction or (d) any sale by the holders of the Company’s outstanding voting equity securities where such holders do not continue to hold at least a majority of the Company’s issued and outstanding voting equity securities, and (iii) upon termination of the Loan Agreement prior to the maturity date for any reason, a prepayment fee equal to 2% (if such prepayment occurs prior to the first anniversary of the Loan Amendment) or 1% (if such prepayment occurs thereafter) of the funded principal amount of the Term Loan.

Subject to certain exceptions, the Loan Agreement contains covenants prohibiting the Company from, among other things: (a) disposing of properties or assets; (b) liquidating or dissolving; (c) engaging in any business other than the business currently engaged in by the Company or reasonably related thereto; (d) engaging in business combinations or acquisitions or permitting or suffering any change in control; (e) incurring any additional indebtedness; (f) allowing any lien or encumbrance on any property; (g) paying any dividends or distributions; (h) entering into transactions with affiliates; and (i) making payment on subordinated debt.

In the event a positive clinical trial event had not occurred by March 31, 2018, on such date, the Company would have been required to (i) provide cash security and maintain a cash balance in a restricted account at SVB in an amount of at least 50% of the amounts the Company owes to SVB or (ii) prepay the Term Loan in its entirety. On November 10, 2017, the Company provided SVB evidence of a Positive Clinical Trial Event.

If a pre-clinical event does not occur on or prior to September 30, 2019 (previously July 31, 2018) or, pursuant to the Loan Amendment, if at any time prior to a pre-clinical event, the Company’s unrestricted cash balance at SVB is less than $18 million, on such date, the Company must either (i) provide cash security and maintain a cash balance in a restricted account at SVB in an amount of at least 100% of the amounts the Company owes to SVB or (ii) prepay the Term Loan in its entirety. In the event that cash security is provided, it would be presented as restricted cash on our balance sheet.

In each case, if the Company chooses to prepay the Term Loan, in addition to the repayment of the outstanding principal and accrued and unpaid interest, the Company is required to pay the final payment fee and, if applicable, the success fee, but not the prepayment fee.

As amended by the Loan Amendment, Tranche C is now available through November 30, 2018 (previously available through July 31, 2018). Tranche C is now conditioned upon, in addition to the occurrence of a positive clinical trial event (evidence of which was provided to SVB on November 10, 2017) and a pre-clinical event, the occurrence of a positive Phase 2 NASH event. “Pre-clinical event” means the receipt by SVB of a written electronic communication from our chief executive officer or chief financial officer, together with supporting documentation from the FDA, that the FDA has lifted the partial clinical hold with respect to clinical trials of longer than six months in duration for gemcabene. “Positive Phase 2 NASH event” means public disclosure by the Company of evidence satisfactory to SVB, in its sole but reasonable discretion, that the Company has received positive Phase 2 interim data on either its adult familial partial lipodystrophy proof-of-concept clinical trial or its pediatric NAFLD proof-of-concept clinical trial. The Company does not expect to meet the two remaining conditions before November 30, 2018 and thus will not access Tranche 3.

In connection with the Loan Amendment, the Company issued a warrant to SVB (the Warrant) to purchase 36,000 shares of the Company’s common stock at an exercise price of $7.47 per share on July 31, 2018. The Warrant is immediately exercisable and has a term of ten years. The exercise price and number and type of shares underlying the Warrant are subject to adjustment upon specified events, including any stock dividends and splits, reverse stock split, recapitalization, reorganization or similar transaction, as described therein. The Warrant contains a “cashless exercise” feature that allows SVB to exercise the Warrant without a cash payment to the Company, on a net issuance basis, based upon the fair market value of the Company’s common stock at the time of exercise, upon the terms set forth therein. The Warrant was deemed to be a free-standing instrument and was accounted for as equity. The Company recorded $0.2 million to additional paid-in capital upon issuance with an offset to a discount to the Term Loan. A Black-Scholes pricing model was used to estimate the aggregate fair value of the Warrant on the issuance date. Input assumptions used were as follows: risk-free interest rate of 2.96 percent; expected volatility of 66 percent; expected life of 10 years; and expected dividend yield of 0 percent. The discount to the Term Loan associated with the Warrant is being amortized as interest expense over the term of the Loan Agreement and amounted to $13,000 for the three and nine month periods ended September 30, 2018.

In connection with the Loan Amendment, the Company was charged $10,000 by SVB and the fee was recorded as a discount to the Term Loan; the discount is being amortized as interest expense over the term of the Loan Agreement and amounted to $1,000 for the three and nine month periods ended September 30, 2018. In addition, the Company incurred $20,000 in third-party legal fees which were recorded to general and administrative expense in the accompanying condensed statements of comprehensive loss during the three and nine month periods ended September 30, 2018.

The Company was in compliance with the Loan Agreement covenants as of September 30, 2018.

The Company recorded $0.2 million and $0.6 million in interest expense related to the Term Loan for the three and nine month periods ended September 30, 2018, respectively, and $0.1 million during the three and nine month periods ended September 30, 2017.

As of September 30, 2018, the minimum aggregate future payments under the Term Loan are as follows (in thousands):


	September 30,

2018	$	870
2019		4,809
2020		4,573
2021		1,370
Total minimum payments		11,622
Amount representing interest and discounts		(1,543)
Present value of minimum payments		10,079
Current portion		(3,681)
Long-term portion	$	6,398

Future minimum interest payments under the Term Loan are assumed at a 5.25% per annum rate.

License Agreement	9 Months Ended
License Agreement	Sep. 30, 2018
License Agreement
License Agreement	6. License Agreement The Company is party to the Pfizer Agreement, as amended on August 2, 2018, for a worldwide exclusive license to certain patent rights and a non-exclusive royalty bearing right and license to certain related data to make, use, develop, commercialize, import and otherwise exploit the clinical product candidate gemcabene. Pfizer retains the right to make, use and import gemcabene solely for internal research purposes. In partial exchange for the rights granted by Pfizer, the Company agreed to issue shares of its common stock to Pfizer representing 15% of the Company’s fully diluted capital at the close of its first arms‑length Series A financing, which occurred on March 31, 2015. The Company agreed to make milestone payments totaling up to $37 million upon the achievement of certain milestones, including the first new drug application (or its foreign equivalent) in any country, regulatory approval in each of the United States, Europe and Japan, the first anniversary of the first regulatory approval in any country, and upon achieving certain aggregate sales levels of gemcabene. Future milestone payments under the Pfizer Agreement, if any, are not expected to begin for at least several years and extend over a number of subsequent years. The Company also agreed to pay Pfizer tiered royalties on a country‑by‑country basis based upon the annual amount of net sales, as specified in the Pfizer Agreement, until the later of: (a) five (5) years after the first commercial sale in such country; (b) the expiration of all regulatory or data exclusivity for gemcabene in such country; and (c) the expiration or abandonment of the last valid claim of the licensed patents, including any patent term extensions or supplemental protection certificates in such country (collectively, the Royalty Term). Under the Pfizer Agreement, the Company is obligated to use commercially reasonable efforts to develop and commercialize gemcabene. On March 31, 2015, upon the closing of the Series A preferred stock financing, the Company issued 675,250 shares of its common stock, at a fair market value of $0.9 million, to Pfizer in connection with the first equity payment, pursuant to which Pfizer became the owner of more than 5% of the Company’s capital stock. The transaction was recorded as acquired in‑process research and development expenses based on the fair market value of the common shares issued since no processes or activities that would constitute a “business” were acquired and none of the rights and underlying assets acquired had alternative future uses or reached a stage of technological feasibility. None of the other milestone or royalty payments were triggered as of September 30, 2018. The Pfizer Agreement will expire upon expiration of the last Royalty Term. On expiration (but not earlier termination), the Company will have a perpetual, exclusive, fully paid-up, royalty-free license under the licensed patent rights and related data to make, use, develop, commercialize, import and otherwise exploit the clinical product candidate gemcabene. Either party may terminate the Pfizer Agreement for the other party’s material breach following a cure period or immediately upon certain insolvency events relating to the other party. Pfizer may immediately terminate the Pfizer Agreement in the event that (i) the Company or any of its affiliates or sublicenses contests or challenges, or supports or assists any third party to contest or challenge, Pfizer’s ownership of or rights in, or the validity, enforceability or scope of any of the patents licensed under the Pfizer Agreement or (ii) the Company or any of its affiliates or sublicensees fails to achieve the first commercial sale in at least one country by April 16, 2024. Furthermore, upon termination of the Pfizer Agreement by Pfizer for any of the foregoing reasons, the Company grants Pfizer a non-exclusive, fully paid-up, royalty free, worldwide, transferrable, perpetual and irrevocable license to use any intellectual property rights arising from the development or commercialization of gemcabene by the Company and any trademarks identifying gemcabene and agrees to transfer regulatory filings and approvals to Pfizer or permit Pfizer to cross-reference and rely on such regulatory filings and approvals for gemcabene. The Company may terminate the License Agreement for convenience upon 90 days’ written notice and payment of an early termination fee.

Stockholders’ Equity	9 Months Ended
Stockholders’ Equity	Sep. 30, 2018
Stockholders’Equity
Stockholders’ Equity	7. Stockholders’ Equity Common Stock The Company had 14,265,411 and 10,633,042 shares of its common stock issued and outstanding as of September 30, 2018 and December 31, 2017, respectively. Voting, dividend and liquidation rights of the holders of the common stock are subject to the Company’s articles of incorporation, corporate bylaws and underlying shareholder agreements. In the first quarter of 2018, the Company completed the Follow-On Offering of 3,592,858 shares of common stock which includes 450,000 shares of common stock purchased by the underwriters upon the partial exercise of their overallotment option, at the public offering price of $7.00 per share. The Company received net proceeds of approximately $23.1 million after deducting underwriting discounts and commissions and offering expenses. The costs incurred related to the Follow-On Offering were $2.1 million through September 30, 2018. On March 15, 2017, the Company issued and sold 1,324,256 units at a price of $9.47 per unit for gross proceeds of approximately $12.5 million in connection with the Private Placement. Each unit consisted of one share of the Company’s common stock and a warrant to purchase 0.75 shares of common stock. The Company received net proceeds of approximately $11.3 million after deducting underwriting discounts and commissions and offering expenses. Offering costs incurred related to the 2017 Private Placement were $1.3 million through September 30, 2018 and December 31, 2017. Warrants In connection with the Private Placement, the Company issued warrants to the investors participating in the financing to purchase an additional 993,204 shares of common stock. The warrants have a term of five years and were exercisable immediately upon issuance with an exercise price equal to $10.40 per share. The warrants were classified as additional paid-in capital and recorded based on their relative fair value to the underlying common shares issued in the Private Placement. The fair market value of the warrants was approximately $4.9 million. The warrants were valued using the Black-Scholes pricing model with the following assumptions: a risk-free interest rate of 2.0%, a contractual term of five years, zero dividend yield and a volatility factor of 65.1%. In connection with the Loan Amendment, the Company issued a warrant to SVB to purchase an additional 36,000 shares of common stock on July 31, 2018 (See Note 4 – Debt). During the three and nine month periods ending September 30, 2018 and 2017, no warrants were exercised. As of September 30, 2018 and December 31, 2017, warrants to purchase 1,014,204 and 978,204 shares of common stock were outstanding, respectively. Dividend Rights Common stock holders are entitled to receive dividends at the sole discretion of the board of directors of the Company. There have been no dividends declared on common stock as of September 30, 2018. Furthermore, the Loan Agreement contains covenants prohibiting the Company from, among other things, paying dividends or distributions. Voting Rights The holders of common stock are entitled to one vote for each share of common stock along with all other classes and series of stock of the Company on all actions to be taken by the stockholders of the Company, including actions that would amend the certificate of incorporation of the Company to increase the number of authorized shares of the common stock. Liquidation Rights In the event of any liquidation, dissolution, or winding‑up of the Company, the holders of common stock shall be entitled to share in the remaining assets of the Company available for distribution post preferential distributions made to preferred stockholders, if any.

Share-Based Compensation

9 Months Ended

Sep. 30, 2018

Share-Based Compensation

Share-Based Compensation

8. Share‑Based Compensation

Share-based compensation expense was included in general and administrative and research and development expenses as follows in the accompanying condensed statements of comprehensive loss (in thousands):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
		2018		2017		2018		2017
General and administrative	$	861	$	420	$	2,008	$	3,673
Research and development		766		316		1,548		862
Total share-based compensation	$	1,627	$	736	$	3,556	$	4,535

During the third quarter of 2018, the separation of two of the Company’s executives resulted in a $0.9 million charge to stock-based compensation expense due to stock option vesting acceleration as provided for in their respective employment agreements. $0.4 million of the charge was stock-based compensation expense under general and administrative expenses and $0.5 million of the charge was stock-based compensation expense under research and development expenses. These stock options will remain exercisable until the termination dates of the underlying award agreements ranging from August 2026 to January 2028. During the second quarter of 2017, the separation of the Company’s former chief executive officer resulted in a $2.1 million charge to stock-based compensation expense under general and administrative expenses due to stock option vesting acceleration as provided for in the separation agreement. These stock options will remain exercisable until the August 3, 2026 termination date of the underlying award agreement. The remaining 150,000 stock options held by the former chief executive officer that would have otherwise vested after August 4, 2019 will be eligible for vesting only in the event of a change of control occurring prior to August 4, 2019.

Restricted Stock Awards

During the three and nine months ended September 30, 2018 and 2017, the Company did not grant any restricted stock awards (RSAs). The RSAs previously granted were subject to various vesting schedules and generally vested ratably over a six to 24 month period coinciding with their respective service periods. During the three and nine months ended September 30, 2018, no RSAs vested. During the three and nine months ended September 30, 2017, zero and 4,009 RSAs vested, respectively. No RSAs were forfeited during the three and nine month periods ended September 30, 2018 or 2017.

Stock Options

In April 2015, the Company adopted a 2015 Equity Incentive Plan (the 2015 Plan) under which 320,615 shares of the Company’s common stock were reserved for issuance to employees, directors and consultants. The 2015 Plan permits the grant of incentive and non‑statutory stock options, appreciation rights, restricted stock, restricted stock units, performance stock and cash awards, and other stock‑based awards.

Amended and Restated 2015 Equity Incentive Plan

In April 2016, the Company’s board of directors approved the Company’s amended and restated 2015 Plan (the A&R 2015 Plan). The Company’s stockholders also approved the A&R 2015 Plan in April 2016 and the A&R 2015 Plan became effective immediately upon the execution and delivery of the underwriting agreement related to the IPO. The A&R 2015 Plan provides for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance-based stock awards and other forms of equity awards, as well as performance cash awards. The Company initially reserved 2,400,000 shares of common stock for issuance under the A&R 2015 Plan.

Under the A&R 2015 Plan, the number of shares of common stock reserved for issuance thereunder automatically increases on January 1st of each year, for a period of 10 years commencing on January 1, 2017 and ending on (and including) January 1, 2026, to an amount equal to 20% of the Company’s fully-diluted shares as of December 31st of the preceding calendar year. Notwithstanding the foregoing, the Company’s board of directors may act prior to January 1st of a given year to provide that there will be no January 1st increase in the shares reserved for such year, or that the increase in shares reserved for such year will be less than would have otherwise been allowed under the provision. Effective January 1, 2018, 415,077 shares were added to the A&R 2015 Plan under the share reserve provision. On April 9, 2018, the Company’s board of directors adopted, and on May 22, 2018, the Company’s stockholders approved, an amendment to the A&R 2015 Plan to increase the number of shares reserved under the A&R 2015 Plan by 300,000 shares to make such shares available for grant in 2018. As a result, the total share reserve as of September 30, 2018 was 3,115,077 shares.

Inducement Plan

In September 2016, the Company’s board of directors approved the Company’s Inducement Plan (the Inducement Plan). The Company initially reserved 300,000 shares of its common stock to be used exclusively for grants of awards to individuals who were not previously employees or directors of the Company, as an inducement material to the individual’s entry into employment with the Company within the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules. The Plan was approved by the Company’s board of directors without stockholder approval pursuant to Rule 5635(c)(4), and the terms and conditions of the Plan are substantially similar to the Company’s stockholder-approved A&R 2015 Plan. On April 9, 2018, the Company’s board of directors approved an amendment to the Inducement Plan to increase the number of shares reserved under the Inducement Plan by 150,000 shares, bringing the total amount of authorized shares reserved under the Inducement Plan to 450,000 shares.

2016 Employee Stock Purchase Plan

In April 2016, the Company’s board of directors approved the 2016 Employee Stock Purchase Plan (the ESPP) in order to enable eligible employees to purchase shares of the Company’s common stock at a discount following the effective date of the IPO. The Company’s stockholders also approved the ESPP in April 2016 and the ESPP became effective immediately upon the execution and delivery of the underwriting agreement related to the IPO. The Company initially reserved 150,000 shares of common stock for issuance under the ESPP. As of September 30, 2018, no shares have been purchased under the ESPP.

During the three months ended September 30, 2018 and 2017, the Company granted an aggregate of zero and 65,000 stock options, respectively, and the Company granted an aggregate of 822,000 and 248,500 stock options during the nine months ended September 30, 2018 and 2017, respectively, under the A&R 2015 Plan and the Inducement Plan to its officers, directors, employees and consultants, generally vesting over a four-year period. The weighted average grant date fair value for option shares granted during the three months ended September 30, 2018 and 2017 was zero and $10.65 per share, respectively, and $5.07 and $7.35 per share during the nine month periods ended September 30, 2018 and 2017, respectively.

The Company measures the fair value of stock options to employees, consultants and directors on the date of grant with service‑based and performance‑based vesting criteria using the Black‑Scholes option pricing model and market-based vesting criteria using a Monte Carlo simulation model. The fair value of equity instruments issued to non‑employees is re‑measured as the award vests. The Company does not have history to support a calculation of volatility and expected term. As such, the Company has used a weighted‑average volatility considering the volatilities of several guideline companies.

For purposes of identifying similar entities, the Company considered characteristics such as industry, length of trading history, and stage of life cycle. The assumed dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. The average expected life of the options was determined based on the mid‑point between the vesting date and the end of the contractual term according to the “simplified method” as described in Staff Accounting Bulletin 110. The risk‑free interest rate is determined by reference to implied yields available from U.S. Treasury securities with a remaining term equal to the expected life assumed at the date of grant. The Company records forfeitures when they occur.

The weighted‑average assumptions used in the Black‑Scholes option‑pricing and Monte Carlo simulation models are as follows:


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2018	2017	2018	2017

Expected stock price volatility	—	66.5%	66.3%	65.8%
Expected life of options (years)	—	6.1	5.8	5.9
Expected dividend yield	—	0%	0%	0%
Risk free interest rate	—	2.0%	2.7%	2.0%

During the three months ended September 30, 2018 and 2017, 279,924 and 125,115 stock options vested, respectively, and 587,334 and 713,140 stock options vested during the nine months ended September 30, 2018 and 2017, respectively. During the third quarter of 2018, the separation of two of the Company’s executives resulted in the vesting of 135,500 stock options due to stock option vesting acceleration as provided for in their respective employment agreements. During the second quarter of 2017, the separation of the Company’s former chief executive officer resulted in the vesting of 337,500 stock options due to stock option vesting acceleration as provided for in her employment agreement.

During the three months ended September 30, 2018 and 2017, 307,121 and zero stock options were forfeited, respectively. During the nine months ended September 30, 2018 and 2017, 422,010 and 3,250 stock options were forfeited, respectively. As of September 30, 2018, 2,823,732 stock options were outstanding, 1,693,952 stock options were vested and 678,303 shares in the aggregate were available for future issuance under the A&R 2015 and Inducement Plans.

Unrecognized share‑based compensation cost for stock options issued under the A&R 2015 Plan and the Inducement Plan was $4.8 million as of September 30, 2018. The non‑employee portion of the unrecognized compensation cost was estimated utilizing the Company’s fair market value for its common stock as of September 30, 2018. The unrecognized share‑based expense is expected to be recognized over a weighted average period of 1.7 years for the stock options. There was no remaining unrecognized stock-based compensation related to the RSAs as of September 30, 2018.

Net Loss Per Common Share

9 Months Ended

Sep. 30, 2018

Net Loss Per Common Share

Net Loss Per Common Share

9. Net Loss Per Common Share

Basic earnings or loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings or loss per share of common stock is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The Company’s RSAs, stock options and warrants are considered common stock equivalents while outstanding for this purpose. Diluted earnings are computed utilizing the treasury method for stock options and warrants. No incremental common stock equivalents were included in calculating diluted loss per share because such inclusion would be anti‑dilutive given the net loss reported for the three and nine months ended September 30, 2018 and 2017. The following table sets forth the computation of basic and diluted loss per share for the three and nine months ended September 30, 2018 and 2017 (in thousands, except share and per share amounts):


	Three Months Ended					Nine Months Ended
	2018		2017			2018		2017
Numerator:
Net loss	$	(6,079)	$	(8,671)	$		(19,981)	$	(26,669)
Denominator:
Basic and diluted weighted average common shares outstanding		14,259,691		10,623,601			13,650,556		10,253,437
Basic and diluted net loss per share	$	(0.43)	$	(0.82)	$		(1.46)	$	(2.60)

The following potential common shares were not considered in the computation of diluted net loss per share as their effect would have been anti‑dilutive during the three and nine months ended September 30, 2018 and 2017:


	Three Months Ended		Nine Months Ended
	2018	2017	2018	2017
Stock options	2,823,732	2,464,140	2,823,732	2,464,140
Warrants	1,014,204	978,204	1,014,204	978,204

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2018

Summary of Significant Accounting Policies

Use of Estimates

Cash and Cash Equivalents

Fair Value of Financial Instruments

General and Administrative Expenses

Research and Development Expenses

Income Taxes

Share-Based Compensation

Share‑Based Compensation

Segment Information

Jumpstart Our Business Startups Act Accounting Election

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2018

Share-Based Compensation

Schedule of share-based compensation expense



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
		2018		2017		2018		2017
General and administrative	$	861	$	420	$	2,008	$	3,673
Research and development		766		316		1,548		862
Total share-based compensation	$	1,627	$	736	$	3,556	$	4,535

Schedule of weighted-average assumptions, option-pricing model

The weighted‑average assumptions used in the Black‑Scholes option‑pricing and Monte Carlo simulation models are as follows:


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2018	2017	2018	2017

Expected stock price volatility	—	66.5%	66.3%	65.8%
Expected life of options (years)	—	6.1	5.8	5.9
Expected dividend yield	—	0%	0%	0%
Risk free interest rate	—	2.0%	2.7%	2.0%

Net Loss Per Common Share (Tables)

9 Months Ended

Sep. 30, 2018

Net Loss Per Common Share

Schedule of computation of basic and diluted loss per share

The following table sets forth the computation of basic and diluted loss per share for the three and nine months ended September 30, 2018 and 2017 (in thousands, except share and per share amounts):


	Three Months Ended					Nine Months Ended
	2018		2017			2018		2017
Numerator:
Net loss	$	(6,079)	$	(8,671)	$		(19,981)	$	(26,669)
Denominator:
Basic and diluted weighted average common shares outstanding		14,259,691		10,623,601			13,650,556		10,253,437
Basic and diluted net loss per share	$	(0.43)	$	(0.82)	$		(1.46)	$	(2.60)

Schedule of potential common shares not considered in computation of diluted net loss per share


	Three Months Ended		Nine Months Ended
	2018	2017	2018	2017
Stock options	2,823,732	2,464,140	2,823,732	2,464,140
Warrants	1,014,204	978,204	1,014,204	978,204

The Company and Basis of Presentation (IPO and Capital Requirements) (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended	9 Months Ended
	Feb. 12, 2018	Sep. 08, 2016	Aug. 04, 2016	Mar. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Aug. 03, 2016
Sale of Stock
Issuance of stock (in shares)				3,592,858
Other offering expenses					$ 2,093	$ 1,257
Common stock, shares authorized					100,000,000		100,000,000	100,000,000
Preferred stock, shares authorized					10,000,000		10,000,000	10,000,000
Common stock, par value (in dollar per share)					$ 0.001		$ 0.001	$ 0.001
Preferred stock, par value (in dollar per share)					$ 0.001		$ 0.001	$ 0.001
IPO
Sale of Stock
Issuance of stock (in shares)			3,000,000
Share price (in dollars per share)			$ 10.00
Net proceeds			$ 26,100
Underwriting discounts and commissions			2,100
Other offering expenses			$ 2,100
Overallotment
Sale of Stock
Issuance of stock (in shares)	450,000	27,755
Share price (in dollars per share)		$ 10.00

The Company and Basis of Presentation (Private Placement Offering) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Mar. 15, 2017	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2018	Jul. 31, 2018
Private Placement Offering
Issuance of stock (in shares)		3,592,858
Gross proceeds		$ 25,150
Exercise price of warrant				$ 10.40
Term of warrants				5 years
Private placement
Private Placement Offering
Issuance of stock (in shares)	1,324,256
Price per issue and sold units	$ 9.47
Gross proceeds	$ 12,500		$ 8,979
Number of shares per unit	1
Number of warrants per unit	0.75
Exercise price of warrant	$ 10.40
Expected Term
Private Placement Offering
Term of warrants				5 years	10 years
Expected Term \| Private placement
Private Placement Offering
Term of warrants	5 years

Accrued Liabilities (Details) $ in Thousands	9 Months Ended
Accrued Liabilities (Details) $ in Thousands	Sep. 30, 2018 USD ($)	Sep. 18, 2018 employee	Dec. 31, 2017 USD ($)
Accrued compensation and other payroll liabilities	$ 368		$ 306
Workforce reduction severance	360
Workforce reduction related expenses	1,300
Legal costs	109		91
Accrued interest	42		38
Other research and development expenses	674		522
Other general and administrative expenses	32		53
Total	1,585		$ 1,010
Number of employees \| employee		5
Workforce (as a percentage)		33.00%
General and administrative
Workforce reduction related expenses	600
Research and development
Workforce reduction related expenses	$ 700

Debt - Term Loan (Details)			3 Months Ended		9 Months Ended
Debt - Term Loan (Details)	Jul. 31, 2018 USD ($) $ / shares shares	Jul. 24, 2015 USD ($)	Sep. 30, 2018 USD ($) item tranche $ / shares shares	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) item tranche $ / shares shares	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
Debt
Number of remaining tranches \| tranche			2		2
Purchase of additional common stock through warrants \| shares			993,204		993,204
Exercise price of warrant \| $ / shares			$ 10.40		$ 10.40
Term of warrants			5 years		5 years
Interest (expense) income			$ (172,000)	$ (132,000)	$ (476,000)	$ (107,000)
Minimum aggregate future payments
2018			870,000		870,000
2019			4,809,000		4,809,000
2020			4,573,000		4,573,000
2021			1,370,000		1,370,000
Total minimum payments			11,622,000		11,622,000
Amount representing interest and discounts			(1,543,000)		(1,543,000)
Present value of minimum payments			10,079,000		10,079,000
Current portion			(3,681,000)		(3,681,000)		$ (1,355,000)
Long-term portion			$ 6,398,000		$ 6,398,000		$ 8,683,000
Risk Free Interest Rate
Debt
Warrant measurement	2.96		2.0		2.0
Price Volatility
Debt
Warrant measurement	66		65.1		65.1
Expected Term
Debt
Term of warrants	10 years		5 years		5 years
Expected Dividend Rate
Debt
Warrant measurement	0		0		0
Minimum
Debt
Interest rate Percentage			4.50%		4.50%
Maximum
Debt
Interest rate Percentage			5.25%		5.25%
Term Loan
Debt
Principal amount		$ 15,000,000
Interest rate Percentage			5.25%		5.25%
Debt issue costs			$ 100,000		$ 100,000
Final payment fee (as a percentage)		10.00%
Success fee (as a percentage)		3.50%
Interest (expense) income			200,000	100,000	600,000	100,000
Term Loan \| SVB
Debt
Purchase of additional common stock through warrants \| shares	36,000
Exercise price of warrant \| $ / shares	$ 7.47
Term of warrants	10 years
Additional paid in capital upon issuance with offset of loan discount	$ 200,000
Debt discount amortized as interest expenses	10,000		1,000	1,000	1,000	1,000
Legal fees incurred			$ 20,000	$ 20,000	$ 20,000	$ 20,000
Interest (expense) income	$ 13,000
Term Loan \| Minimum
Debt
Cash security (as a percentage)	100.00%				50.00%
Term Loan \| Minimum \| SVB
Debt
Unrestricted cash	$ 18,000,000
Term Loan \| Maximum
Debt
Convertible interest rate (as a percentage)		5.00%
Term Loan \| Prior to first anniversary effective date
Debt
Prepayment fee (as a percentage)		2.00%
Term Loan \| Occurs thereafter
Debt
Prepayment fee (as a percentage)		1.00%
Initial Tranche
Debt
Principal amount		$ 10,000,000
Additional Tranche available to be drawn through July 31, 2018
Debt
Principal amount		$ 5,000,000

Commitments and Contingencies - Other Agreements (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transactions
Rent expense		$ 0		$ 0
Future minimum lease payments of operating leases:
2018		26,000		26,000
2019		71,000		71,000
Total		97,000		97,000
Office Rental
Related Party Transactions
Rent expense		$ 26,000	$ 26,000	$ 78,000	$ 78,000
Contractual term	3 years
Monthly base rent	$ 8,400
Lease term monthly base rate	$ 8,900

License Agreement (Details) - USD ($)		3 Months Ended
License Agreement (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2018	Sep. 30, 2018
License Agreements
Issuance of stock (in shares)		3,592,858
Issuance of common stock		$ 25,150,000
Common Stock
License Agreements
Issuance of stock (in shares)		3,592,858
Issuance of common stock		$ 4,000
License Agreement \| Common Stock \| Minimum \| Pfizer, Inc.
License Agreements
Ownership by Pfizer	5.00%
Pfizer, Inc. \| License Agreement
License Agreements
Percentage of shares of common stock offering issued to Pfizer	15.00%
Number of years after the first commercial sale	P5Y
Pfizer, Inc. \| License Agreement \| Common Stock
License Agreements
Issuance of stock (in shares)	675,250
Issuance of common stock	$ 900,000
Pfizer, Inc. \| License Agreement \| Milestone Payments
License Agreements
Potential payments upon achievement of certain milestones			$ 0
Pfizer, Inc. \| License Agreement \| Milestone Payments \| Maximum
License Agreements
Potential payments upon achievement of certain milestones	$ 37,000,000

Stockholders’ Equity (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		9 Months Ended		12 Months Ended
	Feb. 12, 2018	Mar. 15, 2017	Sep. 08, 2016	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Common Stock
Common stock, shares issued						14,265,411		10,633,042
Issuance of common stock (in shares)				3,592,858
Gross proceeds				$ 25,150
Offering costs						$ 2,093	$ 1,257
Follow On Offering
Common Stock
Issuance of common stock (in shares)	3,142,858
Net proceeds	$ 23,100
Offering costs						$ 2,100
Share price (in dollars per share)	$ 7.00
Private placement
Common Stock
Issuance of common stock (in shares)		1,324,256
Price per issue and sold units		$ 9.47
Gross proceeds		$ 12,500			$ 8,979
Number of shares per unit		1
Number of warrants per unit		0.75
Net proceeds		$ 11,300
Offering costs								$ 1,300
Overallotment
Common Stock
Issuance of common stock (in shares)	450,000		27,755
Share price (in dollars per share)			$ 10.00

Stockholders’ Equity - Warrants (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2018 USD ($) item $ / shares shares	Sep. 30, 2017 shares	Jul. 31, 2018 $ / shares shares	Dec. 31, 2017 shares
Warrants
Purchase of additional common stock through warrants	993,204
Term of warrants	5 years
Exercise price of warrant \| $ / shares	$ 10.40
Fair market value of warrant \| $	$ 4.9
Exercise of warrants (in shares)	0	0
Warrants to purchase	1,014,204			978,204
Expected Dividend Rate
Warrants
Warrant measurement	0		0
Expected Term
Warrants
Term of warrants	5 years		10 years
Price Volatility
Warrants
Warrant measurement	65.1		66
Risk Free Interest Rate
Warrants
Warrant measurement	2.0		2.96
Term Loan \| SVB
Warrants
Purchase of additional common stock through warrants			36,000
Exercise price of warrant \| $ / shares			$ 7.47

Share-Based Compensation - 2016 Employee Stock Purchase Plan (Details)		3 Months Ended			9 Months Ended
	May 22, 2018 shares	Sep. 30, 2018 USD ($) employee $ / shares shares	Sep. 30, 2017 $ / shares shares	Jun. 30, 2017 shares	Sep. 30, 2018 USD ($) employee $ / shares shares	Sep. 30, 2017 $ / shares shares	Jan. 01, 2018 shares	Apr. 30, 2016 shares	Apr. 30, 2015 shares
2016 Employee Stock Purchase Plan
Expected stock price volatility			66.50%		66.30%	65.80%
Expected life of options (years)			6 years 1 month 6 days		5 years 9 months 18 days	5 years 10 months 24 days
Expected dividend yield			0.00%		0.00%	0.00%
Risk free interest rate			2.00%		2.70%	2.00%
Number of Options
Vested		135,500		337,500
Number of executives \| employee		2			2
Remaining nonvested options				150,000
Forfeited, nonvested		307,121,000	0		422,010,000	3,250,000
Compensation expense, vesting acceleration \| $		$ 900,000
Unrecognized share-based compensation
Unrecognized share-based compensation cost \| $		4,800,000			$ 4,800,000
Unrecognized share-based compensation - Weighted average period					1 year 8 months 12 days
Restricted stock awards
Unrecognized share-based compensation
Unrecognized share-based compensation cost - RSA \| $		$ 0			$ 0
ESPP
2016 Employee Stock Purchase Plan
Granted (in shares)					0
Common stock reserved for issuance (in shares)								150,000
A&R 2015 Plan
2016 Employee Stock Purchase Plan
Granted (in shares)	300,000
Common stock reserved for issuance (in shares)	3,115,077						415,077
Number of Options
Stock options outstanding		2,823,732			2,823,732
Employees, Directors, Officers And Consultants
Number of Options
Vested		279,924
Employees, Directors, Officers And Consultants \| A&R 2015 Plan
2016 Employee Stock Purchase Plan
Granted (in shares)		0	65,000		822,000	248,500
Vesting period					4 years
Weighted average fair value per share of options granted \| $ / shares		$ 0.00	$ 10.65		$ 5.07	$ 7.35
Employees, Directors And Consultants \| A&R 2015 Plan
2016 Employee Stock Purchase Plan
Common stock reserved for issuance (in shares)								2,400,000
Number of Options
Vested					1,693,952
Employees, Directors And Consultants \| 2015 Plan
2016 Employee Stock Purchase Plan
Common stock reserved for issuance (in shares)									320,615
Number of Options
Vested			125,115		587,334	713,140
Available for future issuance		678,303			678,303

Related Party Transactions - (Details) $ in Thousands		3 Months Ended			9 Months Ended		12 Months Ended
Related Party Transactions - (Details) $ in Thousands	Mar. 15, 2017 USD ($) shares	Sep. 30, 2018 USD ($)	Mar. 31, 2018 USD ($) employee shares	Sep. 30, 2017 employee	Sep. 30, 2018 USD ($)	Sep. 30, 2017 employee	Dec. 31, 2017 USD ($) employee shares
Related Party Transactions
Rent expense \| $		$ 0			$ 0
Issuance of stock (in shares) \| shares			3,592,858
Private placement
Related Party Transactions
Issuance of stock (in shares) \| shares	1,324,256
Net proceeds \| $	$ 11,300
1 Officer
Related Party Transactions
Number of officers \| employee			1
Issuance of stock (in shares) \| shares			14,286
Net proceeds \| $			$ 100
Current Officer [Member]
Related Party Transactions
Number of officers \| employee				1		1
Former Officer [Member]
Related Party Transactions
Number of officers \| employee				1		1
Investors Related To Board Member And Officers
Related Party Transactions
Issuance of stock (in shares) \| shares			71,429
Net proceeds \| $			$ 500
Three Board Members
Related Party Transactions
Number Of Board Members In Related Party Transaction \| employee							3
Three Board Members \| Private placement
Related Party Transactions
Issuance of stock (in shares) \| shares							56,678
Net proceeds \| $							$ 500
1 investor related to 1 board member
Related Party Transactions
Number Of Board Members In Related Party Transaction \| employee			1
1 investor related to 1 board member \| Private placement
Related Party Transactions
Issuance of stock (in shares) \| shares							52,798
Net proceeds \| $							$ 500

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2018
Fair Value Measurements
Fair Value Measurements	10. Fair Value Measurements The Company follows accounting guidance that emphasizes that fair value is a market‑based measurement, not an entity specific measurement. Fair value is defined as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” Fair value measurements are defined on a three level hierarchy: Level 1 inputs: Unadjusted quoted prices for identical assets or liabilities in active markets; Level 2 inputs: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, weather directly or indirectly, for substantially the full term of the asset or liability; Level 3 inputs: Unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date. As of September 30, 2018 and December 31, 2017, the fair values of cash and cash equivalents, other assets, accounts payable and accrued liabilities approximated their carrying values because of the short‑term nature of these assets or liabilities. The estimated fair value of the Company’s Term Loan was based on amortized cost which was deemed to approximate fair value. There were no transfers between fair value hierarchy levels during the three and nine months ended September 30, 2018 and 2017. There were no instruments measured on a recurring fair value basis as of September 30, 2018 and December 31, 2017. In addition, no financial instruments were measured on a non‑recurring basis for any of the periods presented.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2018
Income Taxes
Income Taxes	11. Income Taxes On December 22, 2017, the Tax Cuts and Jobs Act (the TCJA), which significantly modified U.S. corporate income tax law, was signed into law by President Trump. The TCJA contains significant changes to corporate income taxation, including but not limited to the reduction of the corporate income tax rate from a top marginal rate of 35% to a flat rate of 21%, limitation of the tax deduction for interest expense to 30% of earnings (except for certain small businesses), limitation of the deduction for net operating losses to 80% of current year taxable income and generally eliminating net operating loss carrybacks, allowing net operating losses to carryforward without expiration, one-time taxation of offshore earnings at reduced rates regardless of whether they are repatriated, elimination of U.S. tax on foreign earnings (subject to certain important exceptions), immediate deductions for certain new investments instead of deductions for depreciation expense over time, and modifying or repealing many business deductions and credits (including changes to the orphan drug tax credit and changes to the deductibility of research and experimental expenditures that will be effective in the future). Notwithstanding the reduction in the corporate income tax rate, the overall impact of the new federal tax law is uncertain, including to what extent various states will conform to the newly enacted federal tax law. The Company has recorded the necessary provisional adjustments in the financial statements in accordance with its current understanding of the TCJA and guidance currently available as of this filing and recorded a provisional reduction of $6.8 million to its gross deferred tax assets in the fourth quarter of 2017, the period in which the legislation was enacted. The provisional reduction was fully offset by an equal reduction in the Company’s valuation allowance given the Company’s historical net losses, resulting in no net income tax expense being recorded. The Company may adjust these provisional amounts in future periods if its interpretation of the TCJA changes or as additional guidance becomes available. Any subsequent adjustment to these amounts is not expected to have a significant impact due to the valuation allowance. The effective tax rate for the three and nine months ended September 30, 2018 and 2017 was zero percent. As a result of the analysis of all available evidence as of September 30, 2018 and December 31, 2017, the Company recorded a full valuation allowance on its net deferred tax assets. Consequently, the Company reported no income tax benefit for the three and nine month periods ended September 30, 2018 and 2017. If the Company’s assumptions change and the Company believes that it will be able to realize these deferred tax assets, the tax benefits relating to any reversal of the valuation allowance on deferred tax assets will be recognized as a reduction of future income tax expense. If the assumptions do not change, each period the Company could record an additional valuation allowance on any increases in the deferred tax assets.

Defined Contribution Plan	9 Months Ended
Defined Contribution Plan	Sep. 30, 2018
Defined Contribution Plan
Defined Contribution Plan	12. Defined Contribution Plan The Company adopted a 401(k) defined contribution plan on September 5, 2017, effective as of January 1, 2017, for all employees over age 21. Employees can defer up to 100% of their compensation through payroll withholdings into the plan subject to federal law limits. Effective January 1, 2018, the Company began matching contributions on deferrals at 100% of deferrals up to 3% of one’s contributions and 50% on deferrals over 3%, but not exceeding 5% of one’s contributions in order to satisfy certain non-discrimination tests required by the Internal Revenue Code. Employee contributions and any employer matching contributions made to satisfy certain non-discrimination tests required by the Internal Revenue Code are 100% vested upon contribution. Discretionary employer matches vest over a six-year period beginning on the second anniversary of an employee’s date of hire. The amount of matching contributions made during the three and nine month periods ended September 30, 2018 was $30,000 and $84,000, respectively. There were no matching contributions made during the comparable periods in 2017.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2018
Subsequent Events
Subsequent Events	14. Subsequent Events Term Loan A pre-clinical event had not occurred as of November 1, 2018, and therefore, the Company began making monthly payments of principal and interest.

Commitments and Contingencies - Pfizer License Agreement (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Commitments and Contingencies
No liabilities were recorded related to the license agreement	$ 14,017,000	$ 15,076,000
Pfizer, Inc.
Commitments and Contingencies
No liabilities were recorded related to the license agreement	$ 0

Stockholders’ Equity - Dividend Rights (Details) - Common Stock	9 Months Ended
	Sep. 30, 2018 USD ($) Vote / shares
Dividends Rights
No dividends declared \| $	$ 0
Voting Rights
Common stock, vote per share \| Vote / shares	1

Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Share-Based Compensation (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 1,627	$ 736	$ 3,556	$ 4,535
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	861	420	2,008	3,673
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation	$ 766	$ 316	$ 1,548	$ 862

Share-Based Compensation - Executives (Details) $ in Millions	3 Months Ended
	Sep. 30, 2018 USD ($) employee	Jun. 30, 2017 USD ($) shares
Number of Options
Number of executives \| employee	2
Compensation expense, vesting acceleration	$ 0.9
Remaining nonvested options \| shares		150,000
General and administrative
Number of Options
Compensation expense, vesting acceleration	0.4	$ 2.1
Research and development
Number of Options
Compensation expense, vesting acceleration	$ 0.5

Share-Based Compensation - Stock Options (Details) - shares			9 Months Ended
	May 22, 2018	Apr. 09, 2018	Sep. 30, 2018	Jan. 01, 2018	Sep. 30, 2016	Apr. 30, 2016	Apr. 30, 2015
Stock Options, Additional Disclosures
Percentage of company's fully diluted shares			20.00%
A&R 2015 Plan
Stock Options, Additional Disclosures
Number of years common shares automatically increase			10 years
Common stock reserved for issuance (in shares)	3,115,077			415,077
Granted (in shares)	300,000
Inducement Plan
Stock Options, Additional Disclosures
Common stock reserved for issuance (in shares)		450,000			300,000
Granted (in shares)		150,000
Employees, Directors And Consultants \| 2015 Plan
Stock Options, Additional Disclosures
Common stock reserved for issuance (in shares)							320,615
Employees, Directors And Consultants \| A&R 2015 Plan
Stock Options, Additional Disclosures
Common stock reserved for issuance (in shares)						2,400,000

Net Loss Per Common Share - Earning Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator:
Comprehensive loss	$ (6,079)	$ (6,678)	$ (7,224)	$ (8,671)	$ (10,502)	$ (7,496)	$ (19,981)	$ (26,669)
Denominator:
Basic and diluted weighted average common shares outstanding	14,259,691			10,623,601			13,650,556	10,253,437
Basic and diluted	$ (0.43)			$ (0.82)			$ (1.46)	$ (2.60)

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Fair value measurements
Transfers between levels	$ 0		$ 0
Recurring
Fair value measurements
Total liabilities at Fair Value	0	$ 0
Nonrecurring
Fair value measurements
Total liabilities at Fair Value	$ 0	$ 0

Income Taxes (Details) - USD ($)		3 Months Ended			9 Months Ended		12 Months Ended
Income Taxes (Details) - USD ($)	Jan. 01, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Taxes
US Corporate income tax rate	21.00%						35.00%
Effective tax rate		0.00%		0.00%	0.00%	0.00%
Gross deferred tax assets			$ 6,800,000				$ 6,800,000
Income tax benefit (expense)		$ 0	$ 0	$ 0	$ 0	$ 0

Defined Contribution Plan (Details)	3 Months Ended					9 Months Ended
Defined Contribution Plan (Details)	Sep. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Sep. 30, 2018 USD ($) age
Defined Contribution Plan Disclosure [Line Items]
Minimum age of employee to cover under the plan \| age						21
Employee compensation deferred percentage						100.00%
Employer match of employee contributions of eligible compensation						100.00%
Percentage of compensation matched by employer						3.00%
Employer match of over all employee contributions of eligible compensation						50.00%
Percentage of employee contribution vested on their contribution						100.00%
Employer matches vesting period						6 years
Amount of discretionary matching contributions on employee deferrals \| $	$ 30,000	$ 0	$ 0	$ 0	$ 0	$ 84,000
Maximum
Defined Contribution Plan Disclosure [Line Items]
Percentage of compensation matched by employer						5.00%