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DEI Document - $ / shares	9 Months Ended
DEI Document - $ / shares	Sep. 30, 2019	Oct. 31, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	XERIS PHARMACEUTICALS INC
Entity Central Index Key	0001346302
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Listing, Par Value Per Share	$ 0.0001
Entity Common Stock, Shares Outstanding		26,995,057

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 56,160	$ 45,716
Short-term Investments	46,311	66,917
Accounts receivable, net	874	2,869
Prepaid expenses and other current assets	2,631	2,397
Total current assets	105,976	117,899
Investments	13,913	0
Property and equipment, net	7,952	2,034
Other assets	259	95
Total assets	128,100	120,028
Current Liabilities
Accounts payable	1,678	866
Accrued expenses	15,706	8,214
Warrants liabilities	302	860
Deferred grant awards	106	232
Total current liabilities	17,792	10,172
Long-term debt, net of unamortized deferred costs	58,124	31,890
Other liabilities	8,528	2,560
Total liabilities	84,444	44,622
Commitments and Contingencies (Note 8)
Stockholders' Equity
Preferred Stock, par value $0.0001	0	0
Common stock, par value $0.0001	3	2
Additional paid in capital	256,771	196,121
Accumulated deficit	(213,163)	(120,665)
Accumulated other comprehensive gain (loss)	45	(52)
Total stockholders' equity	43,656	75,406
Total liabilities and stockholders' equity	$ 128,100	$ 120,028

Condensed Consolidated Balance Sheets (Unaudited) Balance Sheets Parenthetical - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Preferred Stock, Par Value Per Share	$ 0.0001	$ 0.0001
Common Shares, Par Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Shares Authorized	150,000,000	150,000,000
Preferred Stock, Shares Issued	0	0
Common Stock, Shares, Issued	26,954,189	20,808,366

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Grant income	$ 314	$ 582	$ 843	$ 1,611
Service revenue	9	0	48	53
Cost of revenue	10	0	33	42
Gross Profit	313	582	858	1,622
Operating expenses
Research and development	15,518	10,875	48,018	28,264
Selling, general and administrative	14,877	4,650	42,419	12,388
Expense from operations	30,395	15,525	90,437	40,652
Loss from operations	(30,082)	(14,943)	(89,579)	(39,030)
Other income (expense)
Interest and other income	657	462	2,173	796
Interest expense	(3,507)	(737)	(5,632)	(1,490)
Change in fair value of warrants	96	451	540	63
Total other income (expense)	(2,754)	176	(2,919)	(631)
Net loss	(32,836)	(14,767)	(92,498)	(39,661)
Other comprehensive loss, net of tax
Unrealized gains (losses) on investments	(23)	(58)	97	(58)
Comprehensive loss	$ (32,859)	$ (14,825)	$ (92,401)	$ (39,719)
Net loss per common share - basic and diluted	$ (1.22)	$ (0.71)	$ (3.58)	$ (4.36)
Weighted average common shares outstanding, basic and diluted	26,942,591	20,714,475	25,810,113	9,104,491

Condensed Statements of Stockholders' Equity (Deficit) (Unaudited) Statement - USD ($) $ in Thousands	Total	Common Stock	Additional Paid In Capital	Accumulated Other Comprehensive Gain (Loss)	Accumulated Deficit
Common Stock, Shares, Issued		2,159,068
Common Stock, Value, Issued		$ 1
Additional paid in capital			$ 2,754
Accumulated other comprehensive gain (loss)				$ 0
Accumulated deficit					$ (60,585)
Stockholders' Equity Attributable to Parent	$ (57,830)
Net loss	(11,907)				(11,907)
Shares, Exercise and vesting of stock-based awards		39,510
Value, Exercise of stock-based awards	51		51
Stock-based compensation	244		244
Net loss	(39,661)
Unrealized gains (losses) on investments	(58)
Common Stock, Shares, Issued		2,198,578
Common Stock, Value, Issued		$ 1
Additional paid in capital			3,049
Accumulated other comprehensive gain (loss)				0
Accumulated deficit					(72,492)
Stockholders' Equity Attributable to Parent	(69,442)
Net loss	(12,987)				(12,987)
Stock Issued During Period, Shares, New Issues		6,555,000
Stock Issued During Period, Value, Conversion of Convertible Securities	102,293	$ 1	102,292
Stock Issued During Period, Value, New Issues	89,002		89,002
Stock Issued During Period, Shares, Conversion of Convertible Securities		11,837,073
Shares, Exercise and vesting of stock-based awards		97,806
Value, Exercise of stock-based awards	109		109
Stock-based compensation	361		361
Common Stock, Shares, Issued		20,688,457
Common Stock, Value, Issued		$ 2
Additional paid in capital			194,813
Accumulated other comprehensive gain (loss)				0
Accumulated deficit					(85,479)
Stockholders' Equity Attributable to Parent	109,336
Net loss	(14,767)				(14,767)
Stock Issued During Period, Value, New Issues	(50)		(50)
Shares, Exercise and vesting of stock-based awards		67,209
Value, Exercise of stock-based awards	115		115
Stock-based compensation	544		544
Unrealized gains (losses) on investments	(58)			(58)
Common Stock, Shares, Issued		20,755,666
Common Stock, Value, Issued		$ 2
Additional paid in capital			195,422
Accumulated other comprehensive gain (loss)				(58)
Accumulated deficit					(100,246)
Stockholders' Equity Attributable to Parent	$ 95,120
Common Stock, Shares, Issued	20,808,366	20,808,366
Common Stock, Value, Issued	$ 2	$ 2
Additional paid in capital	196,121		196,121
Accumulated other comprehensive gain (loss)	(52)			(52)
Accumulated deficit	(120,665)				(120,665)
Stockholders' Equity Attributable to Parent	75,406
Net loss	(25,277)				(25,277)
Stock Issued During Period, Shares, New Issues		5,996,775
Stock Issued During Period, Value, New Issues	55,632	$ 1	55,631
Shares, Exercise and vesting of stock-based awards		72,797
Value, Exercise of stock-based awards	128		128
Stock-based compensation	1,147		1,147
Unrealized gains (losses) on investments	51			51
Warrants, exercises in period		2,271
Warrants, exercises in period, value	13		13
Net loss	(92,498)
Unrealized gains (losses) on investments	97
Common Stock, Shares, Issued		26,880,209
Common Stock, Value, Issued		$ 3
Additional paid in capital			253,040
Accumulated other comprehensive gain (loss)				(1)
Accumulated deficit					(145,942)
Stockholders' Equity Attributable to Parent	107,100
Net loss	(34,385)				(34,385)
Shares, Exercise and vesting of stock-based awards		30,235
Value, Exercise of stock-based awards	70		70
Stock-based compensation	$ 1,701		1,701
Shares, Issuance of common stock through employee stock purchase plan	24,229
Value, Issuance of common stock through employee stock purchase plan	$ 236		236
Unrealized gains (losses) on investments	69			69
Common Stock, Shares, Issued		26,934,673
Common Stock, Value, Issued		$ 3
Additional paid in capital			255,047
Accumulated other comprehensive gain (loss)				68
Accumulated deficit					(180,327)
Stockholders' Equity Attributable to Parent	74,791
Net loss	(32,836)				(32,836)
Stock Issued During Period, Value, New Issues	(119)		(119)
Shares, Exercise and vesting of stock-based awards		18,746
Value, Exercise of stock-based awards	44		44
Stock-based compensation	1,794		1,794
Unrealized gains (losses) on investments	(23)			(23)
Warrants, exercises in period		770
Warrants, exercises in period, value	$ 5		5
Common Stock, Shares, Issued	26,954,189	26,954,189
Common Stock, Value, Issued	$ 3	$ 3
Additional paid in capital	256,771		$ 256,771
Accumulated other comprehensive gain (loss)	45			$ 45
Accumulated deficit	(213,163)				$ (213,163)
Stockholders' Equity Attributable to Parent	$ 43,656

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net loss	$ (92,498,000)	$ (39,661,000)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	698,000	146,000
Amortization of investments	(608,000)	0
Amortization of debt issuance costs	767,000	312,000
Stock-based compensation	4,642,000	1,149,000
Loss on extinguishment of debt	2,324,000	0
Change in fair value of warrants	(540,000)	(63,000)
Changes in operating assets and liabilities
Accounts receivable	1,873,000	(532,000)
Prepaid expenses and other current assets	(234,000)	(2,089,000)
Other assets	(26,000)	62,000
Accounts payable	812,000	(1,354,000)
Accrued expenses	7,192,000	3,790,000
Deferred grant awards	(126,000)	50,000
Deferred rent	901,000	246,000
Other liabilities	49,000	0
Net cash used in operating activities	(74,774,000)	(37,944,000)
Cash flows from investing activities
Capital expenditures	(863,000)	(1,260,000)
Purchases of investments	(75,975,000)	(55,278,000)
Sales and maturities of investments	83,496,000	0
Net cash provided by (used in) investing activities	6,658,000	(56,538,000)
Cash flows from financing activities
Proceeds from Initial Public Offering	0	98,325,000
Payments for Initial Public Offering Costs	0	(9,373,000)
Proceeds from follow-on public offering	59,970,000	0
Payments of follow-on public offering costs	(4,458,000)	0
Proceeds from sale of Series C Preferred Stock	0	4,438,000
Payments for Series C Preferred Stock offering costs	0	(24,000)
Proceeds from issuance of long-term debt	60,000,000	35,000,000
Repayment of debt	(35,000,000)	0
Payments of debt issuance costs	(2,340,000)	(333,000)
Stock purchases from employee stock purchase plan	236,000	0
Proceeds from exercise of stock awards	152,000	149,000
Net cash provided by financing activities	78,560,000	128,182,000
Increase in cash and cash equivalents	10,444,000	33,700,000
Cash and cash equivalents, beginning of period	45,716,000	42,045,000
Cash and cash equivalents, end of period	56,160,000	75,745,000
Supplemental schedule of cash flow information
Cash paid for interest	2,812,000	1,031,000
Supplemental schedule of non-cash investing and financing activities
Tenant improvement allowance	5,508,000	0
Deferred public offering costs within accrued expenses	138,000	0
Accrued debt issuance costs	1,841,000	2,325,000
Allocation of debt costs to warrants	0	1,012,000
Vesting of early exercised awards	91,000	127,000
Non-cash exercise of warrants	$ 18,000	$ 0

Note 1. Organization and Nature of the Business	9 Months Ended
Note 1. Organization and Nature of the Business	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of the Business	Organization and Nature of the Business Nature of business Xeris Pharmaceuticals, Inc. ("Xeris" or the "Company") is a specialty pharmaceutical company that was incorporated in Delaware in 2005. Xeris is dedicated to the development of ready-to-use injectable and infusible drug formulations that address important unmet medical needs, are easier to use by patients, caregivers and health practitioners, and reduce costs for payors and the healthcare system. Since its inception, the Company has devoted the majority of its efforts to research and development, regulatory and technical activities, and preparation for commercialization of its first product, Gvoke^TM, which delivers ready-to-use glucagon via a commercially available pre-filled syringe or auto-injector for the treatment of severe hypoglycemia, a potentially life-threatening condition. Gvoke was approved by the U.S. Food & Drug Administration ("FDA") on September 10, 2019. The Company has financed its operations through the issuance of its common stock, convertible preferred stock and other equity instruments, debt financing and grant funding from the National Institutes of Health ("NIH") and other philanthropic organizations. The Company has not generated any revenue from product sales as of September 30, 2019. The Company has incurred operating losses since inception and has an accumulated deficit of $213.2 million as of September 30, 2019. The Company expects to continue to incur net losses for at least the next 12 months. Based on the Company’s current operating plans and existing working capital at September 30, 2019, the Company believes its cash resources are sufficient to sustain operations and capital expenditure requirements for at least the next 12 months. The Company is subject to a number of risks similar to other specialty pharmaceutical companies, including, but not limited to, successful development and commercialization of its drug candidates, the development of new technological innovations by its competitors, protection of intellectual property and market acceptance of the Company’s products. Basis of presentation These condensed consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), including those for interim financial information, and with the instructions for Quarterly Reports on Form 10-Q and Article 10 of Regulation S-X issued by the U.S. Securities and Exchange Commission (the "SEC"). Accordingly, such financial statements do not include all of the information and note disclosures required by GAAP for complete financial statements. In the opinion of management, the accompanying financial statements reflect all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation of the Company’s financial position and its results of operations and cash flows for the periods presented. The results of operations for such periods are not necessarily indicative of the results that may be expected for any future period. The accompanying financial statements should be read in conjunction with the audited financial statements and the related notes thereto for the year ended December 31, 2018 included in the Company's Annual Report on Form 10-K filed with the SEC on March 6, 2019. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). Basis of Consolidation These condensed consolidated financial statements include the financial statements of Xeris Pharmaceuticals, Inc. and its subsidiary, Xeris Pharmaceuticals Australia Pty Ltd. All intercompany transactions have been eliminated.

Note 2. Summary of Significant Accounting Policies	9 Months Ended
Note 2. Summary of Significant Accounting Policies	Sep. 30, 2019
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Refer to the audited financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 for a discussion of the Company's accounting policies. New accounting pronouncements Recently issued accounting pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The new standard requires lessees to record a right-of-use asset and a lease liability for all leases with a term of greater than twelve months regardless of their classification. Leases will be classified as either operating or finance leases under the new guidance. Operating leases will result in straight-line expense in the income statement, similar to current operating leases, and finance leases will result in more expense being recognized in the earlier years of the lease term, similar to current capital leases. As an emerging growth company, ASU 2016-02 will be effective for the Company for the fiscal year beginning January 1, 2020 and for interim periods beginning January 1, 2021. The FASB has recently proposed guidance that, if issued, will further extend the effective dates by an additional year. The Company is currently evaluating the impact the adoption of this new standard will have on the financial statements and related disclosures; however, since the Company is a lessee to certain leases for property whose terms exceed twelve months, it expects to report assets and liabilities related to these leases on the financial statements that have not been previously reported once adopted.

Note 3. Reverse Stock Split and Initial Public Offering

9 Months Ended

Sep. 30, 2019

Reverse Stock Split and Initial Public Offering [Abstract]

Reverse Stock Split and Initial Public Offering

Reverse Stock Split and Public Stock Offerings

On June 8, 2018, the Company effectuated a 1-for-1.78112 reverse stock split of its outstanding common stock, which was approved by the Company’s Board of Directors on May 22, 2018 and by the Company’s stockholders on June 8, 2018. The reverse stock split resulted in an adjustment to the then outstanding preferred stock conversion prices to reflect a proportional decrease in the number of shares of common stock to be issued upon conversion. The accompanying condensed consolidated financial statements and related notes to condensed consolidated financial statements give retroactive effect to the reverse stock split for all periods presented. The shares of common stock retained a par value of $0.0001 per share. Accordingly, stockholders’ equity reflects the reverse stock split by reclassifying from common stock to additional paid in capital an amount equal to the par value of the decreased shares resulting from the reverse stock split.

On June 25, 2018, the Company closed the initial public offering ("IPO") of its common stock pursuant to a registration statement on Form S-1, as amended. The Company sold an aggregate of 6,555,000 shares of common stock under the registration statement at an IPO price of $15.00 per share, including 855,000 shares of common stock pursuant to the exercise of the underwriters’ option to purchase additional shares. Net proceeds from the IPO were $88.9 million, after deducting underwriting discounts and commissions, as well as other IPO expenses. Upon closing the IPO, all outstanding shares of the Company's Series A, B and C convertible preferred stock were converted into 11,837,073 shares of common stock.

On February 19, 2019, the Company completed a public offering of its common stock pursuant to a registration statement on Form S-1, as amended. The Company sold an aggregate of 5,996,775 shares of common stock at a price of $10.00 per share, including 116,775 shares of common stock pursuant to the exercise of the underwriters' option to purchase additional shares. Net proceeds from the public offering were $55.5 million after deducting underwriting discounts and commissions, as well as other public offering expenses.

Warrants

In 2014 the Company issued 19,931 warrants (“2014 Warrants”) to certain investors. The 2014 Warrants allow each holder to purchase one share of common stock for $5.912. There have been 18,512 2014 Warrants exercised, and 1,419 2014 Warrants remain outstanding as of September 30, 2019.

As part of the Loan Agreement discussed in Note 5, "Long-term Debt," the Lenders received warrants equal to 3.0% of the principal borrowing amounts concurrent with the borrowing. The warrants represent a right for the lender to purchase shares of the Company’s common stock at an exercise price of $11.169 per share. The Company issued 53,720 warrants ("2018 Term A Warrants") upon the drawdown of the 2018 Term A Loan in February 2018, and the Company issued 40,292 warrants ("2018 Term B Warrants") upon the drawdown of the 2018 Term B Loan in September 2018. There have been no exercises of 2018 Term A Warrants or 2018 Term B Warrants, and as such all 53,720 warrants and 40,292 warrants, respectively, were outstanding as of September 30, 2019.

Because the warrants are a freestanding instrument, indexed to the Company's stock, they do not meet the criteria for equity classification. Therefore, the warrants are classified as liabilities and subject to remeasurement at each reporting period until they are exercised, expired, or otherwise settled.

The Company recognized gains of $8,000, $50,000 and $38,000 due to the change in fair value of the 2014 Warrants, the 2018 Term A Warrants and the 2018 Term B Warrants, respectively, during the three months ended September 30, 2019. The Company recognized gains of $76,000, $265,000 and $199,000 due to the change in fair value of the 2014 Warrants, the 2018 Term A Warrants and the 2018 Term B Warrants, respectively, during the nine months ended September 30, 2019. The Company recognized gains of $29,000, $79,000 and $343,000 due to the change in fair value of the 2014 Warrants, the 2018 Term A Warrants and the 2018 Term B Warrants, respectively, during the three months ended September 30, 2018. The Company recognized gains (losses) of $(149,000), $(131,000) and $343,000 due to the change in fair value of the 2014 Warrants, the 2018 Term A Warrants and the 2018 Term B Warrants, respectively, during the nine months ended September 30, 2018.

As of September 30, 2019, the following warrants were outstanding:



	Outstanding Warrants	Exercise Price per Warrant	Expiration Date

2014 Warrants	1,419	$5.912	August 2020
2018 Term A Warrants	53,720	$11.169	February 2025
2018 Term B Warrants	40,292	$11.169	September 2025
	95,431

Note 4. Accrued Expenses (Notes)

9 Months Ended

Sep. 30, 2019

Accrued Expenses [Abstract]

Accrued Expenses

Accrued expenses consist of the following:



(in thousands)	September 30, 2019		December 31, 2018

Accrued research and development costs	$	6,744	$	2,221
Accrued employee costs	4,778		4,326
Accrued marketing and selling costs	3,331		—
Accrued other costs	853		1,667
Accrued expenses	$	15,706	$	8,214

Note 5. Long-Term Debt

9 Months Ended

Sep. 30, 2019

Long-term Debt, Unclassified [Abstract]

Long-Term Debt

Long-term Debt

Senior Secured Loan Facility

In February 2018, the Company entered into the Loan and Security Agreement, dated as of February 28, 2018 (as amended, the “Loan Agreement”), with Oxford Finance LLC, as the collateral agent and a lender (“Oxford”), and Silicon Valley Bank, as a lender (“SVB”, and together with Oxford, the “Lenders”) which provided for a senior secured loan facility of up to an aggregate principal amount of $45.0 million. The first tranche was $20.0 million and was drawn down in February 2018 ("2018 Term A Loan"). The second tranche was $15.0 million and was drawn down in September 2018 ("2018 Term B Loan"). The interest rate under the Loan Agreement was the thirty-day U.S. LIBOR rate plus 6.75%, which was 8.84% as of September 13, 2019, the date of repayment of the amounts outstanding under the Loan Agreement. Payments on the Loan Agreement were interest only for the first 24 months. The Company also issued warrants to the Lenders to purchase common stock, which is further discussed in Note 7, "Warrants."

On September 10, 2019, the Company entered into an Amended and Restated Loan and Security Agreement (the “Amended Loan Agreement”) with the Lenders which amended and restated the Loan Agreement. Under the Amended Loan Agreement, the Lenders will extend up to $85.0 million in term loans to the Company in three tranches. The initial tranche of $60.0 million (the “Term A Loan”) was drawn down on September 13, 2019. The second tranche of $15.0 million (the “Term B Loan”) and the third tranche of $10 million (the “Term C Loan”) will become available to the Company upon the Company’s achievement of certain revenue targets prior to March 31, 2021 and June 30, 2021, respectively. The 2018 Term A Loan and 2018 Term B Loan and the related final payment fee of $2.3 million were repaid in conjunction with the execution of the Amended Loan Agreement. The remainder of the proceeds will be used for working capital purposes.

The Amended Loan Agreement provides for interest-only payments through March 31, 2021, after which the principal will be payable in 27 equal monthly installments. However, if the Term B Loan is funded, then the period for interest-only payments is extended through December 31, 2021, after which the principal will be payable in 30 equal monthly installments. If the Term C loan is funded, then the period for interest-only payments is further extended through September 30, 2022, after which the principal will be payable in 21 equal monthly installments. The maturity date is June 1, 2023, provided that if the Term B Loan is funded, then the maturity date will be extended to June 1, 2024. After repayment, no loans may be reborrowed. For the period from the funding date of the Term A Loan through and including September 30, 2019, the loans incurred interest at a rate of 8.68%. Following such time, the loans shall incur interest at a floating per annum rate in an amount equal to the sum of 6.25% plus the greater of (a) 2.43% and (b) the thirty-day U.S. Dollar LIBOR rate. The Company incurred total debt issuance costs of $1.9 million related to the Amended Loan Agreement, which are reflected as a direct reduction to the term loan balance and are being amortized into interest expense over the life of the loan using the effective interest method.

Pursuant to the Amended Loan Agreement, the Company provided a first priority security interest in substantially all of the Company’s assets, including intellectual property, subject to certain limited exceptions.

The Amended Loan Agreement allows the Company to voluntarily prepay the outstanding amounts thereunder, but not less than $2.0 million of the outstanding principal at any time. Prior to April 1, 2021, the Company is subject to a prepayment fee equal to 1.50% of the principal amount being prepaid. In the event the Company draws down the second or third tranche, the period subject to the 1.50% prepayment fee is extended to January 1, 2022 and October 1, 2022, respectively. A final payment fee of 3.0% multiplied by the original principal amount of each tranche drawn is due upon the earlier to occur of the maturity date of the Amended Loan Agreement, the acceleration of the Amended Loan Agreement or prepayment of such borrowings and is recorded in other long-term liabilities on the condensed consolidated balance sheets.

The Amended Loan Agreement contains customary representations and warranties, events of default (including an event of default upon a material adverse change of the Company) and affirmative and negative covenants, including, among others, covenants that limit or restrict the Company’s ability to incur additional indebtedness, grant liens, merge or consolidate, make acquisitions, pay dividends or other distributions or repurchase equity, make investments, dispose of assets and enter into certain transactions with affiliates, in each case subject to certain exceptions.

The components of debt are as follows:



(in thousands)	September 30, 2019			December 31, 2018

2018 Term A Loan	$	—		$	20,000
2018 Term B Loan	—			15,000
Term A Loan	60,000			—
Principal amount of long-term debt	60,000			35,000
Less: Unamortized deferred costs	(1,876		)	(3,110		)
Long-term debt, net of unamortized deferred costs	$	58,124		$	31,890

The following table sets forth the Company’s future minimum principal payments (in thousands):



2019	$	—
2020	—
2021	20,000
2022	26,700
2023	13,300
	$	60,000

For the period from July 1, 2019 through September 12, 2019 and the year-to-date period ended September 12, 2019, the Company recognized interest expense of $3,212,000 and $5,337,000, respectively, of which $220,000 and $733,000, respectively, was related to the amortization of debt issuance costs. Included in such interest expense is a loss on extinguishment of debt of $2.3 million relating to the write-off of the remaining balance of unamortized debt issuance costs associated with the Loan Agreement. For the period from September 13, 2019, the date of funding of the Amended Loan Agreement, through September 30, 2019, the Company recognized interest expense of $295,000 of which $34,000 was related to the amortization of debt issuance costs. For the three and nine months ended September 30, 2018, the Company recognized interest expense of $737,000 and $1,490,000, respectively, of which $156,000 and $312,000, respectively, was related to the amortization of debt issuance costs.

Note 6. Convertible Preferred Stock	9 Months Ended
Note 6. Convertible Preferred Stock	Sep. 30, 2019
Convertible preferred stock [Abstract]
Convertible Preferred Stock	Convertible Preferred Stock In February 2018, the Company issued an additional 707,680 shares of Series C convertible preferred stock for net proceeds of $4.4 million. During the second quarter of 2018, a majority of the holders of the Company's convertible preferred stock elected to have their shares converted into common stock; therefore, all outstanding shares of preferred stock were converted into 11,837,073 shares of common stock at a conversion rate of 1:1.78112 upon the closing of the Company's IPO on June 25, 2018. Prior to the conversion of the convertible preferred stock into common stock, the holders of the Company’s convertible preferred stock were entitled to receive non-cumulative dividends at the rate of 8% of the purchase price per annum in preference to any dividends to the holders of the common stock, payable as and if when declared by the Board of Directors. The holders of the convertible preferred stock also were entitled to participate pro rata in any dividends paid to the holders of the common stock on an as-converted basis. No dividends were declared by the Company’s Board of Directors.

Note 7. Warrants (Notes)

9 Months Ended

Sep. 30, 2019

Warrants [Abstract]

Warrants

Reverse Stock Split and Public Stock Offerings

Warrants

As of September 30, 2019, the following warrants were outstanding:



	Outstanding Warrants	Exercise Price per Warrant	Expiration Date

2014 Warrants	1,419	$5.912	August 2020
2018 Term A Warrants	53,720	$11.169	February 2025
2018 Term B Warrants	40,292	$11.169	September 2025
	95,431

Note 8. Commitments and Contingencies	9 Months Ended
Note 8. Commitments and Contingencies	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has non-cancellable operating leases for office space, which expire at various times through 2031. The non-cancellable office lease agreements provide for monthly lease payments, which increase during the term of each lease agreement. In the first quarter of 2018, the Company signed a lease for office space in Chicago, Illinois. In the fourth quarter of 2018, the Company signed an amendment to this lease to occupy new space and relocated to this new space in March 2019. The future minimum lease payments of the amended lease are approximately $0 in 2019, $746,000 in 2020, $1,095,000 in 2021, $1,125,000 in 2022, $1,156,000 in 2023, and $9,747,000 for 2024 and thereafter. Total rent expense under these operating leases was approximately $640,000 and $421,000 for the three months ended September 30, 2019 and 2018, respectively

Note 9. Stock Compensation Plan (Notes)

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Stock Compensation Plan

In 2011, the Company adopted the 2011 Stock Option Issuance Plan (“2011 Plan”) and subsequently amended it to authorize the Board of Directors to grant up to 4,714,982 incentive stock option and non-qualified stock option awards.

The 2018 Stock Option and Incentive Plan ("2018 Plan") was adopted by the Board of Directors in April 2018 and approved by the Company's stockholders in June 2018 to award up to 1,822,000 shares of common stock. This plan became effective on the date immediately prior to the effectiveness of the Company's IPO registration statement. The 2018 Plan replaced the 2011 Plan as the Board of Directors determined not to make additional awards under the 2011 Plan following the closing of the IPO, which occurred in June 2018. The 2018 Plan allows the compensation committee to make equity-based and cash-based incentive awards to the Company's officers, employees, directors and other key persons (including consultants).

The 2018 Plan provides that the number of shares reserved and available for issuance under the plan will automatically increase each January 1, beginning on January 1, 2019, by 4% of the outstanding number of shares of our common stock on the immediately preceding December 31, or such lesser number of shares as determined by the compensation committee. This number is subject to adjustment in the event of a stock split, stock dividend or other change in the Company's capitalization. On January 1, 2019, the number of shares of common stock available for issuance under the 2018 Plan was automatically increased by 835,728 shares. As of September 30, 2019, there were approximately 808,000 shares of common stock available for future issuance under the 2018 Plan.

The 2018 Employee Stock Purchase Plan ("ESPP") was adopted by the Board of Directors in April 2018 and approved by the Company's stockholders in June 2018 to award up to 193,000 shares of common stock to participating employees. This plan became effective on the date immediately prior to the effectiveness of the Company's IPO registration statement. The ESPP provides that the number of shares reserved and available for issuance will automatically increase each January 1, beginning on January 1, 2019 and each January 1 thereafter through January 1, 2028, by the least of (i) 1% of the outstanding number of shares of our common stock on the immediately preceding December 31; (ii) 386,000 shares or (iii) such lesser number of shares as determined by the ESPP administrator. On January 1, 2019, the number of shares of common stock available for issuance under the ESPP increased by 208,932 shares. The number of shares reserved under the ESPP is subject to adjustment in the event of a stock split, stock dividend or other change in capitalization. The first offering period for the ESPP began January 1, 2019 and ended June 30, 2019, at which time 24,229 shares were purchased. As of September 30, 2019, there were approximately 378,000 shares available for issuance under the ESPP.

The Equity Inducement Plan ("Inducement Plan") was adopted by the Board of Directors in February 2019. The Inducement Plan was adopted without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The Inducement Plan allows the Company to make stock option or restricted stock unit awards to prospective employees of the Company as an inducement to such individuals to commence employment with the Company. The Company intends to use this Inducement Plan to help it attract and retain prospective employees who are necessary to support the commercial launch of Gvoke and the expansion of the Company generally. The Company initially reserved 750,000 shares of common stock for the issuance of awards under the Inducement Plan. This number is subject to adjustment in the event of a stock split, stock dividend or other change in our capitalization. As of September 30, 2019, there were approximately 442,000 shares of common stock available for future issuance under the Inducement Plan.

Stock options are granted with an exercise price equal to the market price of the Company’s stock at the date of grant. Stock option awards typically vest over two, three or four years from the grant date and expire ten years from the grant date.

The fair value of each option is estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the following table. The expected term of options represents the period of time that options granted are expected to be outstanding. The risk-free interest rate for periods during the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The expected stock price volatility assumption is based on the historical volatilities of a peer group of publicly traded companies as well as the historical volatility of the Company's common stock since the Company began trading subsequent to its IPO in June 2018 over the period corresponding to the expected life as of the grant date. The expected dividend yield is based on the expected annual dividend as a percentage of the market value of the Company’s ordinary shares as of the grant date. The Company uses historical data to estimate employee terminations within the valuation model.

The fair value of stock options granted was estimated with the following weighted average assumptions:



	Nine Months Ended September 30,
	2019		2018
Expected term (years)	6.1		6.0
Risk-free interest rate	1.55	%	2.80	%
Expected volatility	59.30	%	58.55	%
Expected dividends	—		—

Stock option activity for employee awards under the 2011 Plan, 2018 Plan and Inducement Plan for the nine months ended September 30, 2019 was as follows:



	Options	Weighted Average Exercise Price		Weighted Average Contractual Life (Years)
Outstanding - January 1, 2019	3,127,308	$	8.06	8.69
Granted	1,478,650	12.51
Exercised and vested	(120,725)	2.01
Forfeited	(169,155)	15.39
Expired	(1,403)	19.77
Outstanding - September 30, 2019	4,314,675	$	9.50	8.39
Exercisable - September 30, 2019	2,323,256	$	5.11	7.63
Vested and expected to vest at September 30, 2019	4,054,703	$	9.34	8.36

The weighted average fair value of awards granted to employees during the nine months ended September 30, 2019 was $5.08 per share. The total intrinsic value of options exercised during the nine months ended September 30, 2019 was $1.1 million. The aggregate intrinsic value of awards vested and expected to vest as of September 30, 2019 was $12.7 million.

The Company also granted stock options to non-employees under the 2011 Plan and 2018 Plan. These awards are marked to fair value at the end of each reporting period until they vest. Stock option activity for these awards for the nine months ended September 30, 2019 was as follows:



	Options	Weighted Average Exercise Price		Weighted Average Contractual Life (Years)
Outstanding - January 1, 2019	3,392	$	1.55	2.00
Granted	15,500	11.28
Exercised and vested	(1,053)	1.55
Outstanding - September 30, 2019	17,839	$	11.48	9.19
Exercisable - September 30, 2019	0	$	—	0.00
Vested and expected to vest at September 30, 2019	16,768	$	11.48	9.19

The aggregate intrinsic value of non-employee awards vested and expected to vest at September 30, 2019 was $21,000. The aggregate intrinsic value of awards exercisable as of September 30, 2019 was $0. The Company recognized expense associated with these awards of $5,000 and $8,000 for the three months ended September 30, 2019 and 2018, respectively. The Company recognized expense associated with these awards of $13,000 and $65,000 for the nine months ended September 30, 2019 and 2018, respectively.

Restricted stock unit ("RSU") awards for the nine months ended September 30, 2019 were as follows:



	Units
Unvested balance - January 1, 2019	0
Granted	125,000
Unvested balance - September 30, 2019	125,000

Restricted stock unit awards are measured based on the fair market value of the underlying stock on the date of grant and recognized as expense on a straight-line basis over the employee’s requisite service period (generally the vesting period). As of September 30, 2019, there was $1.4 million of unrecognized stock-based compensation expense related to RSUs, which is expected to be recognized over the weighted-average remaining vesting period of 3.3 years.

The following table summarizes the reporting of total stock-based compensation expense resulting from employee and non-employee stock options, restricted stock units and the employee stock purchase plan:



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2019		2018		2019		2018
Research and development	$	279	$	116	$	774	$	398
Selling, general and administrative	1,515		428		3,868		751
Total stock-based compensation expense	$	1,794	$	544	$	4,642	$	1,149

At September 30, 2019, there was a total of $16.8 million of unrecognized stock-based compensation expense related to stock options that is expected to be recognized over a weighted average period of 2.73 years.

Note 10. Fair Value Measurement

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurement

Fair Value Measurements

Fair value is 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 classified and disclosed in one of the following categories:

Level 1: Measured using unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Measured using quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Measured based on prices or valuation models that required inputs that are both significant to the fair value measurement and less observable from objective sources (i.e., supported by little or no market activity).

Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values stated below takes into account the market for its financial assets and liabilities, the associated credit risk and other factors as required. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value as of September 30, 2019 and December 31, 2018:



(in thousands)	Total as of September 30, 2019		Level 1		Level 2		Level 3

Assets
Cash and cash equivalents:
Cash and money market funds	$	56,160	$	56,160	$	—	$	—

Investments:
U.S. government securities	$	31,463	$	31,463	$	—	$	—
Corporate securities	17,054		—		17,054		—
Agency securities	1,000		—		1,000		—
Commercial paper	10,707		10,707		—		—
Total investments	$	60,224	$	42,170	$	18,054	$	—

Liabilities
Warrant liabilities	$	302	$	—	$	—	$	302



(in thousands)	Total as of December 31, 2018		Level 1		Level 2		Level 3

Assets
Cash and cash equivalents:
Cash and money market funds	$	45,716	$	45,716	$	—	$	—

Investments:
U.S. government securities	$	38,737	$	38,737	$	—	$	—
Corporate securities	15,066		—		15,066		—
Agency securities	11,931		—		11,931		—
Commercial paper	1,183		1,183		—		—
Total investments	$	66,917	$	39,920	$	26,997	$	—

Liabilities
Warrant liabilities	$	860	$	—	$	—	$	860

The fair value of the Company’s warrant liabilities is based on a Black-Scholes valuation which considers the expected term of the warrants as well as the risk-free interest rate and expected volatility of the Company's common stock.

The Company has determined that the warrant liabilities' fair values are Level 3 items within the fair value hierarchy. The following table presents the changes in the warrant liabilities:



(in thousands)
Balance at December 31, 2018	$	860
Exercise of warrants	(18)
Change in fair value of warrants	(540)
Balance at September 30, 2019	$	302

There were no transfers between any of the levels of the fair value hierarchy during the nine months ended September 30, 2019.

- Definition

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

+ References + Details

Note 11. Available-for-Sale Investments (Notes)

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Available-for-Sale Investments

The Company classifies its investments in debt securities as available-for-sale. Debt securities are comprised of highly liquid investments with minimum “A” rated securities and, as of September 30, 2019, consist of U.S. Treasury and agency bonds and corporate entity commercial paper and securities with maturities of more than three months but less than two years at the date of purchase. Debt securities as of September 30, 2019 had an average remaining maturity of 0.63 years. The debt securities are reported at fair value with unrealized gains or losses recorded in accumulated other comprehensive gain (loss) in the condensed consolidated balance sheets. Refer to Note 10, "Fair Value Measurements," for information related to the fair value measurements and valuation methods utilized.

The following table represents the Company’s available-for-sale investments by major security type as of September 30, 2019:



(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Total Fair Value

Agency securities	$	1,005	$	—	$	(5	)	$	1,000
Commercial paper	10,707		—		—			10,707
Corporate securities	17,052		3		(1		)	17,054
U.S. government securities	31,483		—		(20		)	31,463
Total available-for-sale investments	$	60,247	$	3	$	(26	)	$	60,224

The Company reviews available-for-sale investments for other-than-temporary impairment loss quarterly. The Company considers factors such as the duration, severity and the reason for the decline in value, the potential recovery period and our intent to sell. For debt securities, we also consider whether (i) it is more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis and (ii) the amortized cost basis cannot be recovered as a result of credit losses. During the quarter ended September 30, 2019, the Company did not recognize any other-than-temporary impairment losses. All marketable securities with unrealized losses have been in a loss position for less than twelve months.

Note 12. Net Loss Per Common Share (Notes)

9 Months Ended

Sep. 30, 2019

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Earnings Per Share [Text Block]

Net Loss Per Common Share

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

The following potentially dilutive securities were excluded from the computation of diluted weighted average common shares outstanding due to their anti-dilutive effect:



	As of September 30,
	2019	2018
Vested and unvested stock options	4,332,514	2,753,208
Restricted stock units	125,000	—
Warrants	95,431	113,943
	4,552,945	2,867,151

Note 4. Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2019

Accrued Expenses [Abstract]

Accrued Expenses

Accrued expenses consist of the following:



(in thousands)	September 30, 2019		December 31, 2018

Accrued research and development costs	$	6,744	$	2,221
Accrued employee costs	4,778		4,326
Accrued marketing and selling costs	3,331		—
Accrued other costs	853		1,667
Accrued expenses	$	15,706	$	8,214

Note 5. Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Instrument [Line Items]

Schedule of Long-term Debt Instruments

The components of debt are as follows:



(in thousands)	September 30, 2019			December 31, 2018

2018 Term A Loan	$	—		$	20,000
2018 Term B Loan	—			15,000
Term A Loan	60,000			—
Principal amount of long-term debt	60,000			35,000
Less: Unamortized deferred costs	(1,876		)	(3,110		)
Long-term debt, net of unamortized deferred costs	$	58,124		$	31,890

Schedule of Maturities of Long-term Debt

The following table sets forth the Company’s future minimum principal payments (in thousands):



2019	$	—
2020	—
2021	20,000
2022	26,700
2023	13,300
	$	60,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Note 7. Warrants (Tables)

9 Months Ended

Sep. 30, 2019

Warrants [Abstract]

Schedule of Stockholders' Equity Note, Warrants or Rights

As of September 30, 2019, the following warrants were outstanding:



	Outstanding Warrants	Exercise Price per Warrant	Expiration Date

2014 Warrants	1,419	$5.912	August 2020
2018 Term A Warrants	53,720	$11.169	February 2025
2018 Term B Warrants	40,292	$11.169	September 2025
	95,431

Note 9. Stock Compensation Plan (Tables)

9 Months Ended

Sep. 30, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based Compensation Assumptions Used in Black-Scholes Option Valuation Model

The fair value of stock options granted was estimated with the following weighted average assumptions:



	Nine Months Ended September 30,
	2019		2018
Expected term (years)	6.1		6.0
Risk-free interest rate	1.55	%	2.80	%
Expected volatility	59.30	%	58.55	%
Expected dividends	—		—

Share-based Payment Arrangement, Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation, Activity

Stock option activity for employee awards under the 2011 Plan, 2018 Plan and Inducement Plan for the nine months ended September 30, 2019 was as follows:



	Options	Weighted Average Exercise Price		Weighted Average Contractual Life (Years)
Outstanding - January 1, 2019	3,127,308	$	8.06	8.69
Granted	1,478,650	12.51
Exercised and vested	(120,725)	2.01
Forfeited	(169,155)	15.39
Expired	(1,403)	19.77
Outstanding - September 30, 2019	4,314,675	$	9.50	8.39
Exercisable - September 30, 2019	2,323,256	$	5.11	7.63
Vested and expected to vest at September 30, 2019	4,054,703	$	9.34	8.36



	Options	Weighted Average Exercise Price		Weighted Average Contractual Life (Years)
Outstanding - January 1, 2019	3,392	$	1.55	2.00
Granted	15,500	11.28
Exercised and vested	(1,053)	1.55
Outstanding - September 30, 2019	17,839	$	11.48	9.19
Exercisable - September 30, 2019	0	$	—	0.00
Vested and expected to vest at September 30, 2019	16,768	$	11.48	9.19

Restricted stock unit ("RSU") awards for the nine months ended September 30, 2019 were as follows:



	Units
Unvested balance - January 1, 2019	0
Granted	125,000
Unvested balance - September 30, 2019	125,000

Note 9. Stock Compensation Plan Stock-Based Compensation Expense (Tables)

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2019		2018		2019		2018
Research and development	$	279	$	116	$	774	$	398
Selling, general and administrative	1,515		428		3,868		751
Total stock-based compensation expense	$	1,794	$	544	$	4,642	$	1,149

Note 10. Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The Company has determined that the warrant liabilities' fair values are Level 3 items within the fair value hierarchy. The following table presents the changes in the warrant liabilities:



(in thousands)
Balance at December 31, 2018	$	860
Exercise of warrants	(18)
Change in fair value of warrants	(540)
Balance at September 30, 2019	$	302

There were no transfers between any of the levels of the fair value hierarchy during the nine months ended September 30, 2019.

Note 10. Fair Value Measurement Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value as of September 30, 2019 and December 31, 2018:



(in thousands)	Total as of September 30, 2019		Level 1		Level 2		Level 3

Assets
Cash and cash equivalents:
Cash and money market funds	$	56,160	$	56,160	$	—	$	—

Investments:
U.S. government securities	$	31,463	$	31,463	$	—	$	—
Corporate securities	17,054		—		17,054		—
Agency securities	1,000		—		1,000		—
Commercial paper	10,707		10,707		—		—
Total investments	$	60,224	$	42,170	$	18,054	$	—

Liabilities
Warrant liabilities	$	302	$	—	$	—	$	302



(in thousands)	Total as of December 31, 2018		Level 1		Level 2		Level 3

Assets
Cash and cash equivalents:
Cash and money market funds	$	45,716	$	45,716	$	—	$	—

Investments:
U.S. government securities	$	38,737	$	38,737	$	—	$	—
Corporate securities	15,066		—		15,066		—
Agency securities	11,931		—		11,931		—
Commercial paper	1,183		1,183		—		—
Total investments	$	66,917	$	39,920	$	26,997	$	—

Liabilities
Warrant liabilities	$	860	$	—	$	—	$	860

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Note 11. Available-for-Sale Investments (Tables)

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-sale

The following table represents the Company’s available-for-sale investments by major security type as of September 30, 2019:



(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Total Fair Value

Agency securities	$	1,005	$	—	$	(5	)	$	1,000
Commercial paper	10,707		—		—			10,707
Corporate securities	17,052		3		(1		)	17,054
U.S. government securities	31,483		—		(20		)	31,463
Total available-for-sale investments	$	60,247	$	3	$	(26	)	$	60,224

Note 12. Net Loss Per Common Share (Tables)

9 Months Ended

Sep. 30, 2019

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following potentially dilutive securities were excluded from the computation of diluted weighted average common shares outstanding due to their anti-dilutive effect:



	As of September 30,
	2019	2018
Vested and unvested stock options	4,332,514	2,753,208
Restricted stock units	125,000	—
Warrants	95,431	113,943
	4,552,945	2,867,151

Note 1. Organization and Nature of the Business Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 213,163	$ 120,665

Note 3. Reverse Stock Split and Initial Public Offering Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2018 $ / shares shares	Jun. 30, 2018 $ / shares shares	Sep. 30, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Feb. 19, 2019 $ / shares shares	Jun. 25, 2018 $ / shares shares
Reverse Stock Split and Initial Public Offering [Abstract]
Reverse Stock Split, Conversion Ratio	1.78112
Common Shares, Par Value Per Share \| $ / shares	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common Stock, Shares, Issued			26,954,189	20,808,366	5,996,775	6,555,000
Shares Issued, Price Per Share \| $ / shares					$ 10.00	$ 15.00
Common shares issued, due to exercise of underwriter option					116,775	855,000
Net Proceeds from Issuance Initial Public Offering \| $				$ 88.9
Shares of common stock issued, after preferred stock conversion	11,837,073	11,837,073
Net proceeds from issuance of public offering \| $			$ 55.5

Note 4. Accrued Expenses Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accrued Expenses [Abstract]
Accrued research and development costs	$ 6,744	$ 2,221
Accrued employee costs	4,778	4,326
Accrued marketing and selling costs	3,331	0
Accrued other costs	853	1,667
Accrued expenses	$ 15,706	$ 8,214

Note 5. Long-Term Debt Debt, Future Principal Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Future principal payments, 2019	$ 0
Future principal payments, 2020	0
Future principal payments, 2021	20,000
Future principal payments, 2022	26,700
Future principal payments, 2023	13,300
Long-term Debt	$ 60,000	$ 35,000

Note 5. Long-Term Debt Narrative (Details) - USD ($)	3 Months Ended		8 Months Ended	9 Months Ended
Note 5. Long-Term Debt Narrative (Details) - USD ($)	Sep. 30, 2019	Sep. 30, 2018	Sep. 12, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Mar. 31, 2018
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 60,000,000			$ 60,000,000		$ 35,000,000
Prepayment allowed per debt agreement	$ 2,000,000			$ 2,000,000
Prepayment penalty percentage				1.50%
Final payment fee percentage	3.00%			3.00%
Interest expense	$ 3,507,000	$ 737,000		$ 5,632,000	$ 1,490,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	(1,876,000)			(1,876,000)		(3,110,000)
Long-term debt, net of unamortized deferred costs	58,124,000			58,124,000		31,890,000
Amortization of debt issuance costs		156,000		767,000	312,000
Loss on extinguishment of debt	$ 2,300,000			$ 2,324,000	0
2018 Loan and Security Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity							$ 45,000,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%			6.75%
Interest rate, thirty-day LIBOR plus stated percentage	8.84%			8.84%
Period debt payments are interest only				P24M
Amended Loan and Security Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 85,000,000			$ 85,000,000
Debt Instrument, Interest Rate, Stated Percentage	6.25%			6.25%
Debt Instrument, Basis Spread on Variable Rate	2.43%
Interest rate, greater of stated percentage and (a) 2.43% or (b) thirty-day LIBOR	8.68%			8.68%
2018 Term A Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 0			$ 0		20,000,000	$ 20,000,000
Term A Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Fee	2.3
Interest expense	$ 3,212,000		$ 5,337,000
Amortization of debt issuance costs	220,000			733,000
Term B Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	0	$ 15,000,000		0	$ 15,000,000	15,000,000
Term A Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	60,000,000			$ 60,000,000		$ 0
Period debt payments are interest only				P27M
Debt Issuance Costs, Gross	1,900,000			$ 1,900,000
Interest expense	295,000
Amortization of debt issuance costs	34,000
Term C Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	10,000,000			$ 10,000,000
Period debt payments are interest only				P21M
Term B Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 15,000,000			$ 15,000,000
Period debt payments are interest only				P30M

Note 6. Convertible Preferred Stock Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018 shares	Mar. 31, 2018 USD ($) shares	Jun. 30, 2018 shares	Sep. 30, 2019 shares	Dec. 31, 2018 shares
Equity [Abstract]
Preferred Stock, Shares Issued		707,680		0	0
Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants \| $		$ 4.4
Shares of common stock issued, after preferred stock conversion	11,837,073		11,837,073
Reverse Stock Split, Conversion Ratio	1.78112
Preferred Stock, Dividend Rate, Percentage			8.00%

Note 7. Warrants Schedule of Stockholders' Equity Note, Warrants or Rights (Details) - $ / shares	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Class of Warrant or Right [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,552,945	2,867,151
2014 Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding	1,419
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 5.912
Warrants Expiration Date	Aug. 31, 2020
Term A Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding	53,720
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.169
Warrants Expiration Date	Feb. 28, 2025
Term B Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding	40,292
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.169
Warrants Expiration Date	Sep. 07, 2025

Note 7. Warrants Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Change in fair value of warrants	$ 96	$ 451		$ 540	$ 63
2014 Warrants [Member]
Class of Warrant or Right [Line Items]
Preferred stock and warrants issued during the period, shares							19,931
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 5.912			$ 5.912		$ 5.912
Class of warrants, exercised						18,512
Warrants outstanding	1,419			1,419		1,419
Change in fair value of warrants	$ 8	29		$ 76	(149)
Term A Warrants [Member]
Class of Warrant or Right [Line Items]
Preferred stock and warrants issued during the period, shares			53,720
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.169			$ 11.169		$ 11.169
Warrants outstanding	53,720			53,720		53,720
Warrant coverage, equal to percent of principal borrowing amounts	3.00%			3.00%		3.00%
Change in fair value of warrants	$ 50	$ 79		$ 265	(131)
Term B Warrants [Member]
Class of Warrant or Right [Line Items]
Preferred stock and warrants issued during the period, shares		40,292
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.169			$ 11.169		$ 11.169
Warrants outstanding	40,292			40,292		40,292
Change in fair value of warrants	$ 38	$ 343		$ 199	$ 343

Note 8. Commitments and Contingencies Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Remaining future minimum lease payments, 2019	$ 0		$ 0
Remaining future minimum lease payments, 2020	746,000		746,000
Remaining future minimum lease payments, 2021	1,095,000		1,095,000
Remaining future minimum lease payments, 2022	1,125,000		1,125,000
Remaining future minimum lease payments, 2023	1,156,000		1,156,000
Remaining future minimum lease payments, 2024 and thereafter	9,747,000		9,747,000
Rent Expense, operating leases	640,000	$ 421,000	1,683,000	$ 841,000
Unused letters of credit	$ 1,083,000		$ 1,083,000

Note 9. Stock Compensation Plan Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used (Details) - shares	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 years 30 days	6 years
Risk-free interest rate	1.55%	2.80%
Expected volatility	59.30%	58.55%
Expected dividends	0.00%	0.00%
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	125,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	125,000		0

Note 9. Stock Compensation Plan Employee Stock Award Activity (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized expense from restricted stock units			$ 1,400,000
Non--employee stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 0		0
Share-based Payment Arrangement, Expensed and Capitalized, Amount	$ 5,000	$ 8,000	$ 13,000	$ 65,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	17,839		17,839		3,392
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 11.48		$ 11.48		$ 1.55
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term			9 years 69 days		2 years
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period			15,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 11.28
Shares, Exercise and vesting of stock-based awards			(1,053)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price			$ 1.55
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	0		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.00		$ 0.00
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	16,768		16,768
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$ 11.48		$ 11.48
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term			9 years 69 days
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	4,314,675		4,314,675		3,127,308
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 9.50		$ 9.50		$ 8.06
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term			8 years 142 days		8 years 252 days
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period			1,478,650
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 12.51
Shares, Exercise and vesting of stock-based awards			(120,725)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price			$ 2.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares			(169,155)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price			$ 15.39
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period			(1,403)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price			$ 19.77
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	2,323,256		2,323,256
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 5.11		$ 5.11
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			7 years 231 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	4,054,703		4,054,703
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$ 9.34		$ 9.34
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term			8 years 132 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	125,000		125,000		0
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period			125,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			3 years 95 days

Note 9. Stock Compensation Plan Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 1,794	$ 544	$ 4,642	$ 1,149
Research and Development Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	279	116	774	398
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 1,515	$ 428	$ 3,868	$ 751

Note 9. Stock Compensation Plan Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended
	Mar. 31, 2019	Jun. 30, 2019	Sep. 30, 2019	Jun. 30, 2018	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount			$ 16,800,000
Least amount of annual increase of shares available for issuance	386,000
Stock Issued During Period, Shares, Employee Stock Ownership Plan		24,229
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			2 years 265 days
Unrecognized expense from restricted stock units			$ 1,400,000
Stock Option Two Year Vesting Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			2 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			3 years 95 days
Stock Option Three Year Vesting Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			3 years
Equity Inducement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	750,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			442,000
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				193,000
Percentage shares available for issuance automatically increase annually			1.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	208,932
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			378,000
2011 Stock Option Issuance Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					4,714,982
2018 Stock Option and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				1,822,000
Percentage shares available for issuance automatically increase annually			4.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	835,728
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			808,000

Note 10. Fair Value Measurement Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 56,160		$ 56,160		$ 45,716
Cash and cash equivalents	56,160	$ 75,745	56,160	$ 75,745	45,716	$ 42,045
Investments	60,224		60,224		66,917
Warrants liabilities	302		302		860
Exercise of warrants			(18)
Change in fair value of warrants	(96)	(451)	(540)	(63)
Term A Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of warrants	(50)	(79)	(265)	131
Term B Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of warrants	(38)	$ (343)	(199)	$ (343)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	56,160		56,160		45,716
Investments	42,170		42,170		39,920
Warrants liabilities	0		0		0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0		0		0
Investments	18,054		18,054		26,997
Warrants liabilities	0		0		0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0		0		0
Investments	0		0		0
Warrants liabilities	302		302		860
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	31,463		31,463		38,737
U.S. government securities \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	31,463		31,463		38,737
U.S. government securities \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0		0		0
U.S. government securities \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0		0		0
Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	17,054		17,054		15,066
Corporate securities \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0		0		0
Corporate securities \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	17,054		17,054		15,066
Corporate securities \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0		0		0
Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,000		1,000		11,931
Agency securities \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0		0		0
Agency securities \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,000		1,000		11,931
Agency securities \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0		0		0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	10,707		10,707		1,183
Commercial paper \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	10,707		10,707		1,183
Commercial paper \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0		0		0
Commercial paper \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0		$ 0		$ 0

Note 11. Available-for-Sale Investments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Available For Sale Securities Maturities Period		229 days
Available-for-sale securities, Amortized Cost	$ 60,247	$ 60,247
Available-for-sale Securities, Gross Unrealized Gains	3
Available-for-sale Securities, Gross Unrealized Losses	(26)
Investments	60,224	60,224	$ 66,917
Agency securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, Amortized Cost	1,005	1,005
Available-for-sale Securities, Gross Unrealized Gains	0
Available-for-sale Securities, Gross Unrealized Losses	(5)
Investments	1,000	1,000	11,931
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, Amortized Cost	10,707	10,707
Available-for-sale Securities, Gross Unrealized Gains	0
Available-for-sale Securities, Gross Unrealized Losses	0
Investments	10,707	10,707	1,183
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, Amortized Cost	17,052	17,052
Available-for-sale Securities, Gross Unrealized Gains	3
Available-for-sale Securities, Gross Unrealized Losses	(1)
Investments	17,054	17,054	15,066
U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, Amortized Cost	31,483	31,483
Available-for-sale Securities, Gross Unrealized Gains	0
Available-for-sale Securities, Gross Unrealized Losses	(20)
Investments	$ 31,463	$ 31,463	$ 38,737

Note 12. Net Loss Per Common Share (Details) - shares	9 Months Ended
Note 12. Net Loss Per Common Share (Details) - shares	Sep. 30, 2019	Sep. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,552,945	2,867,151
Vested and unvested stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,332,514	2,753,208
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	125,000	0
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	95,431	113,943

Label	Element	Value
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value	us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue	$ 5.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue	$ 12,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	$ 1,100,000
Non--employee stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue	$ 0