SCYNEXIS (SCYX) 10-K 28 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 01, 2024	Jun. 30, 2023
Cover [Abstract]
Entity Registrant Name	SCYNEXIS, Inc.
Trading Symbol	SCYX
Entity Central Index Key	0001178253
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		37,753,481
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 109,140,501
Entity Interactive Data Current	Yes
Entity File Number	001-36365
Entity Tax Identification Number	56-2181648
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1 Evertrust Plaza
Entity Address, Address Line Two	13th Floor
Entity Address, City or Town	Jersey City
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07302 - 6548
City Area Code	201
Local Phone Number	884-5485
Document Transition Report	false
Title of Each Class	Common Stock, par value $0.001 per share
Name of Each Exchange on Which Registered	NASDAQ
Document Annual Report	true
Auditor Firm ID	34
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Morristown, New Jersey
Documents Incorporated by Reference	Documents Incorporated by Reference Portions of the registrant’s proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A in connection with the registrant’s 2024 Annual Meeting of Stockholders, which will be filed subsequent to the date hereof, are incorporated by reference into Part III of this Form 10-K. Such proxy statement will be filed with the Securities and Exchange Commission not later than 120 days following the end of the registrant’s fiscal year ended December 31, 2023.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 34,050	$ 45,814
Short-term investments (See Note 3)	40,312	27,689
Prepaid expenses and other current assets (See Note 4)	5,548	2,503
License agreement receivable	2,463	0
License agreement contract asset	19,363	0
Accounts receivable, net	0	2,101
Inventory, net	0	899
Restricted cash	380	55
Total current assets	102,116	79,061
Investments (See Note 3)	23,594	0
Other assets	0	5,511
Deferred offering costs	175	73
Restricted cash	163	163
Intangible assets, net	0	408
Operating lease right-of-use asset (Note 9)	2,364	2,594
Total assets	128,412	87,810
Current liabilities:
Accounts payable	7,149	5,937
Accrued expenses (See Note 7)	7,495	5,628
Deferred revenue, current portion	1,189	0
Other liabilities, current portion (See Note 8)	0	5,771
Operating lease liability, current portion (Note 9)	340	282
Warrant liabilities	130	0
Total current liabilities	16,303	17,618
Deferred revenue	2,727	0
Warrant liabilities	21,680	18,644
Convertible debt and derivative liability (Note 8)	12,159	11,001
Loan payable (Note 8)	0	34,393
Operating lease liability (Note 9)	2,581	2,921
Total liabilities	55,450	84,577
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, authorized 5,000,000 shares as of December 31, 2023 and December 31, 2022; 0 shares issued and outstanding as of December 31, 2023 and December 31, 2022	0	0
Common stock, $0.001 par value, 150,000,000 shares authorized as of December 31, 2023 and 2022; 37,207,799 and 32,682,342 shares issued and outstanding as of December 31, 2023, and December 31, 2022, respectively	40	36
Additional paid-in capital	428,169	425,485
Accumulated deficit	(355,247)	(422,288)
Total stockholders’ equity	72,962	3,233
Total liabilities and stockholders’ equity	$ 128,412	$ 87,810

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	May 07, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	37,207,799	32,682,342
Common stock, shares outstanding (in shares)	37,207,799	32,682,342

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Total revenue	$ 140,141	$ 5,091
Operating expenses:
Cost of product revenue	15,624	628
Research and development	30,928	27,259
Selling, general and administrative	20,920	62,961
Total operating expenses	67,472	90,848
Income (loss) from operations	72,669	(85,757)
Other expense (income):
Amortization of debt issuance costs and discount	2,994	1,589
Interest income	(3,954)	(1,415)
Interest expense	3,130	5,198
Other income	0	(3)
Warrant liabilities fair value adjustment	3,166	(22,301)
Derivative liability fair value adjustment	154	(1,316)
Total other expense (income)	5,490	(18,248)
Income (loss) before taxes	67,179	(67,509)
Income tax (expense) benefit	(138)	4,700
Net income (loss)	$ 67,041	$ (62,809)
Net income (loss) per share attributable to common stockholders - basic
Net income (loss) per share -basic	$ 1.4	$ (1.47)
Net income (loss) per share attributable to common stockholders -diluted
Net income (loss) per share -diluted	$ 1.39	$ (1.47)
Weighted average common shares outstanding – basic and diluted
Basic	47,852,833	42,613,510
Diluted	48,390,582	42,613,510
Product Revenue, Net
Revenue:
Total revenue	$ 1,044	$ 4,988
License Agreement Revenue
Revenue:
Total revenue	$ 139,097	$ 103

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance at Dec. 31, 2021	$ 41,258	$ 32	$ 400,705	$ (359,479)
Beginning balance (in shares) at Dec. 31, 2021		28,705,334
Net income (loss)	(62,809)			(62,809)
Stock-based compensation expense	3,685		3,685
Common stock issued through employee stock purchase and stock option plans	18		18
Common stock issued through employee stock purchase and stock option plans (in shares)		6,834
Common stock issued, net of expenses	21,010	$ 4	21,006
Common stock issued, net of expenses (in shares)		3,895,943
Common stock issued for vested restricted stock units (in shares)		74,231
Vested Loan Agreement warrants	71		71
Ending balance at Dec. 31, 2022	$ 3,233	$ 36	425,485	(422,288)
Ending balance (in shares) at Dec. 31, 2022	32,682,342	32,682,342
Net income (loss)	$ 67,041			67,041
Stock-based compensation expense	2,624		2,624
Common stock issued through employee stock purchase and stock option plans	42		42
Common stock issued through employee stock purchase and stock option plans (in shares)		28,896
Common stock issued, net of expenses	4	$ 4
Common stock issued, net of expenses (in shares)		4,150,400
Common stock issued for vested restricted stock units	18		18
Common stock issued for vested restricted stock units (in shares)		346,161
Ending balance at Dec. 31, 2023	$ 72,962	$ 40	$ 428,169	$ (355,247)
Ending balance (in shares) at Dec. 31, 2023	37,207,799	37,207,799

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ 67,041	$ (62,809)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	580	606
Stock-based compensation expense	2,624	3,686
Accretion of investment discount	(1,340)	(309)
Amortization of debt issuance costs and discount	2,994	1,589
Change in fair value of warrant liabilities	3,166	(22,301)
Change in fair value of derivative liability	154	(1,316)
Noncash operating lease expense for right-of-use asset	230	207
Inventory impairment expense	14,577	0
Write off of deferred asset for commitment fees	514	0
Prepayment fee for loan payable payment	263	0
Changes in operating assets and liabilities:
Prepaid expenses, other assets, deferred costs, and other	(2,971)	1,636
License agreement contract asset	(19,363)	0
License agreement receivable	(2,463)	0
Accounts receivable	2,101	(1,240)
Inventory	(8,849)	(436)
Accounts payable	1,172	(1,481)
Accrued expenses	1,866	(70)
Deferred revenue	3,916	0
Other liabilities and other	(6,053)	2,355
Net cash provided by (used in) operating activities	60,159	(79,883)
Cash flows from investing activities:
Purchase of intangible assets	0	(9)
Purchase of investments	(85,480)	(27,380)
Maturity of investments	50,603	0
Net cash used in investing activities	(34,877)	(27,389)
Cash flows from financing activities:
Proceeds from common stock issued	0	47,248
Payments of offering costs and underwriting discounts and commissions	(135)	(3,638)
Proceeds from loan payable	0	5,000
Payments of loan payable issuance costs	0	(26)
Payments of loan payable	(36,383)	0
Payment of loan payable prepayment fee	(263)	0
Proceeds from employee stock purchase plan issuances	42	18
Repurchase of shares to satisfy tax withholdings	18	0
Net cash (used in) provided by financing activities	(36,721)	48,602
Net (decrease) in cash, cash equivalents, and restricted cash	(11,439)	(58,670)
Cash, cash equivalents, and restricted cash at beginning of period	46,032	104,702
Cash, cash equivalents, and restricted cash at end of period	34,593	46,032
Supplemental cash flow information:
Cash paid for interest	3,248	5,190
Cash received for interest	3,520	1,106
Noncash financing and investing activities:
Deferred offering and issuance costs included in accounts payable	40	0
Deferred offering costs reclassified to additional paid-in capital	73	77
Reclass of warrant liability to additional paid in capital	0	71
Reclass of deferred asset associated with issuance of loan payable to debt discount	$ 0	$ 206

Description of Business and Bas

Description of Business and Basis of Preparation	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Preparation	1. Description of Business and Basis of Preparation Organization SCYNEXIS, Inc. (“SCYNEXIS” or the “Company”) is a Delaware corporation formed on November 4, 1999. SCYNEXIS is a biotechnology company, headquartered in Jersey City, New Jersey, and is pioneering innovative medicines to overcome and prevent difficult-to-treat and drug-resistant infections. The Company is developing its proprietary class of enfumafungin-derived antifungal compounds (“fungerps") as broad-spectrum, systemic antifungal agents for multiple fungal indications. Ibrexafungerp is the first representative of this novel class of antifungals with additional assets from the “fungerp” family, including SCY-247, in preclinical stages of development. In June 2021, the U.S. Food and Drug Administration (“FDA”) approved BREXAFEMME (ibrexafungerp tablets) for treatment of patients with vulvovaginal candidiasis (“VVC”), also known as vaginal yeast infection. In December 2022, the Company announced that the FDA approved a second indication for BREXAFEMME for the reduction in the incidence of recurrent vulvovaginal candidiasis ("RVVC"). In March 2023, the Company entered into a license agreement (the "GSK License Agreement") with GlaxoSmithKline Intellectual Property (No. 3) Limited ("GSK") in which the Company granted GSK an exclusive (even as to the Company and its affiliates), royalty-bearing, sublicensable license for the development and commercialization of ibrexafungerp, including the approved product BREXAFEMME, for all indications, in all countries other than Greater China and certain other countries already licensed to third parties (See Note 11). The parties closed the transactions contemplated by the GSK License Agreement in May 2023 and the Company received an upfront payment of $ 90.0 million (See Note 11). The Company was party to a Loan and Security Agreement, dated May 13, 2021, with Hercules Capital, Inc. ("Hercules Capital") and Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank) (“SVBB”) (the "Loan Agreement"), pursuant to which Hercules Capital, SVBB and each of the other lenders from time-to-time party to the Loan Agreement (collectively, the “Lenders”) loaned to the Company $ 35.0 million as of March 31, 2023. Upon receipt by the Company of the $ 90.0 million upfront payment from GSK in May 2023, all amounts payable under the Loan Agreement were fully paid (see Note 8). Following a recent review by GSK of the manufacturing process and equipment at the vendor that manufactures the ibrexafungerp drug substance, the Company became aware that a non-antibacterial beta-lactam drug substance was manufactured using equipment common to the manufacturing process for ibrexafungerp. Current FDA draft guidance recommends segregating the manufacture of non-antibacterial beta-lactam compounds from other compounds since beta-lactam compounds have the potential to act as sensitizing agents that may trigger hypersensitivity or an allergic reaction in some people. In the absence of the recommended segregation, there is a risk of cross contamination. It is not known whether any ibrexafungerp has been contaminated with a beta-lactam compound and the Company has not received reports of any adverse events due to the possible beta-lactam cross contamination. Nonetheless, out of an abundance of caution and in line with GSK’s recommendation, the Company has recalled BREXAFEMME® (ibrexafungerp tablets) from the market and placed a temporary hold on clinical studies of ibrexafungerp, including the Phase 3 MARIO study, until a mitigation strategy is determined. The patient-level and clinical product recall has been initiated and the Company is working with an experienced vendor to manage the process. In September 2023, after the Company announced its voluntary clinical hold, the FDA concurred with the Company's voluntary hold and placed a clinical hold. The Company is working with the FDA to discuss paths for resolution of this issue. The clinical hold and recall affect the Company's two ongoing clinical studies: the Phase 3 MARIO study and a Phase 1 lactation study. The hold does not impact the recently completed FURI, CARES, VANQUISH and SCYNERGIA clinical studies, for which dosing is complete. The FDA determined that the compassionate use program for ibrexafungerp, which provides ibrexafungerp to patients with limited or no other treatment options, can continue provided the patient’s treating physician concludes a favorable benefit-risk assessment and the patient is made aware of and consents to the risk. This applies to patients currently in the program, as well as for new patients, pending confirmation of available supply. The Company's preclinical stage compound, SCY-247, is not affected by these developments. On December 26, 2023, the Company and GSK entered into a binding memorandum of understanding ("Binding MOU") for amendment to the GSK License Agreement. The GSK License Agreement was amended in connection with the delay in the commercialization of BREXAFEMME and further clinical development of ibrexafungerp. See Note 11 for further details. The Company had an accumulated deficit of $ 355.2 million at December 31, 2023. The Company's capital resources primarily comprised cash and cash equivalents and investments of $ 98.0 million at December 31, 2023. While the Company believes its capital resources are sufficient to fund the Company’s on-going operations for a period of at least 12 months subsequent to the issuance of the accompanying consolidated financial statements, the Company's liquidity could be materially affected over this period by: (1) its ability to raise additional capital through equity offerings, debt financings, or other non-dilutive third-party funding; (2) costs associated with new or existing strategic alliances, or licensing and collaboration arrangements; (3) negative regulatory events or unanticipated costs related to its development of ibrexafungerp; (4) its ability to successfully achieve the development, regulatory, and commercial milestones under its GSK License Agreement; and (5) any other unanticipated material negative events or costs. One or more of these events or costs could materially affect the Company’s liquidity. If the Company is unable to meet its obligations when they become due, the Company may have to delay expenditures, reduce the scope of its research and development programs, or make significant changes to its operating plan. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. Intercompany balances and transactions are eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates and judgments include: revenue recognition including gross to net estimates and the identification of performance obligations in licensing arrangements; estimates for the relative standalone selling price and measure of progress under the input method for the GSK License Agreement; estimates for product recall reserves; determination of the fair value of stock-based compensation grants; the estimate of services and effort expended by third-party research and development service providers used to recognize research and development expense; and the estimates and assumptions utilized in measuring the fair values of the warrant and derivative liabilities each reporting period.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Concentration of Credit Risk Financial instruments, which potentially expose the Company to concentrations of credit risk, consist principally of cash on deposit, cash equivalents, investments, and accounts receivable. The Company's money market accounts (recognized as cash and cash equivalents) and investments are with what the Company believes to be high quality issuers. The Company has not experienced any significant losses in such accounts. See Note 11 for concentrations of credit risk associated with the Company’s accounts receivable and revenue with customers. Cash and Cash Equivalents The Company considers any highly liquid investments with a remaining maturity of three months or less when purchased to be cash and cash equivalents. The Company reported cash, cash equivalents, and restricted cash of $ 34.6 million and $ 46.0 million as of December 31, 2023 and 2022, respectively. See Note 9 for further details on the nature of the restricted cash. Investments The Company's held-to-maturity investments in corporate and agency bonds are carried at amortized cost and any premiums or discounts are amortized or accreted through the maturity date of the investment. Any impairment that is not deemed to be temporary is recognized in the period identified. Accounts Receivable, Net Accounts receivable are reported on the accompanying consolidated balance sheet at outstanding amounts due from customers for product sales net of discounts, chargebacks, and wholesaler distribution fees. The Company evaluates the collectability of accounts receivable on a regular basis, by reviewing the financial condition and payment history of its customers, an overall review of collections experience on other accounts, and economic factors or events expected to affect future collections experience. An allowance for doubtful accounts is recorded when a receivable is deemed to be uncollectible. The Company did no t record an allowance for doubtful accounts as of December 31, 2023 and 2022. Allowance for Credit Losses The Company reviews its held-to-maturity investments for credit losses on a collective basis by major security type and in line with the Company's investment policy. As of December 31, 2023, the Company's held-to-maturity investments were in corporate bonds, agency bonds, and U.S. government securities , are highly rated, and the Company does not have a history of credit losses in these investments. The Company reviews the credit quality of its accounts receivables by monitoring the aging of its accounts receivable, the history of write offs for uncollectible accounts, and the credit quality of its significant customers, the current economic environment/macroeconomic trends, supportable forecasts, and other relevant factors. The Company's accounts receivable are with customers that do not have a history of uncollectability nor a history of significantly aged accounts receivables. As of December 31, 2023, the Company did no t recognize a credit loss allowance for its investments or accounts receivable. Inventory, Net Inventory is stated at the lower of cost or net realizable value. Inventory on the accompanying balance sheet includes costs related to the raw material, third party manufacturing, and packaging for BREXAFEMME. Raw material inventory includes the costs associated with the manufacture of ibrexafungerp, the active product ingredient in BREXAFEMME. Work in process inventory includes the costs necessary to package ibrexafungerp into BREXAFEMME, at which point the inventory is then released for commercial use and considered a finished good that is available to be sold. Inventory that is not expected to be sold within one year of the reporting period is classified as long term in other assets on the consolidated balance sheet. Prior to the regulatory approval of an investigational drug, the Company recognizes as research and development expense costs related to the manufacture of an investigational drug when incurred. Upon regulatory approval, the Company begins capitalizing such production and manufacturing expenses as inventory. For BREXAFEMME, capitalization of costs as inventory began upon regulatory approval on June 1, 2021. Inventory that is deemed to not be recoverable or is obsolete is written off as an impairment expense to its net realizable value in cost of product revenues in the accompanying consolidated statement of operations. Revenue Recognition The Company accounts for revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“Topic 606”). Under ASC Topic 606, an entity recognizes revenue when its customer obtains control of goods and services, in an amount that reflects the consideration that the entity expects to be entitled in exchange for those goods and services. The Company performs the following five steps to recognize revenue under ASC Topic 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only recognizes revenue when it is probable that it will collect the consideration to which it is entitled in exchange for the goods or services that will be transferred to the customer. Product Revenue, Net The Company sells BREXAFEMME primarily to wholesalers in the United States and are initially invoiced at contractual list prices. These wholesalers subsequently resell BREXAFEMME to specialty and other retail pharmacies. In addition to agreements with the wholesalers, the Company enters into arrangements with third-party payors that provide for government-mandated and/or privately-negotiated rebates, chargebacks, and discounts for the purchase of BREXAFEMME. The transaction price for product sales is reduced by variable consideration related to certain gross to net (“GTN”) adjustments, including chargebacks, rebates, discounts, incentives, and returns, and the Company will estimate the amount of this variable consideration that should be included in the transaction price using the expected value method. Specific considerations around the Company’s product revenue gross to net GTN adjustments are as follows: • Voluntary Patient Assistance Programs – Through vendors, the Company offers copay assistance to provide financial assistance to patients for the portion of their prescription cost that is not covered by payors. The reduction in product revenue due to the copay programs is based on an estimate of claims and costs per claim that the Company expects to receive associated with product revenue that has been recognized. This includes potential product revenue that remains in the distribution channel at the end of a reporting period. • Trade Discounts and Wholesaler Fees – The Company offers discounts and pays certain distributor service fees. These are recorded as a reduction in product revenue based on distributors’ purchases and the applicable discount rate. • Product Stocking Fees – During the initial launch of BREXAFEMME, the Company offered additional fees to wholesalers and certain indirect customers to incent stocking at wholesalers and pharmacies. These were recorded as a reduction in product revenue based on these customer’s purchases during the eligible period and limited to a certain volume. • Product Returns – Generally, the Company's customers have the right to return products during the 18-month period beginning six months prior to the labeled expiration date and ending twelve months after the labeled expiration date. Since the Company has a limited history of BREXAFEMME returns, the Company estimated returns based on specific lot expiration dates and industry data for comparable products in the market. BREXAFEMME has a thirty-month shelf life. • Chargebacks – For certain entities, pricing on BREXAFEMME is extended below wholesaler list price. Entities that purchase BREXAFEMME from wholesalers at the lower program price then remit the Company the difference between their acquisition cost and the lower program price, resulting in a reduction of product revenue. Accounts receivable is reduced for the estimated amount of unprocessed chargeback claims attributable to sale. • Commercial Rebates – The Company contracts with commercial payors such as insurers and PBMs and offer rebates for utilization and formulary status. These reserves are recorded in the same period in which the related revenue is recognized, resulting in a reduction of product revenue. • Government Rebates – The Company is subject to discount obligations under state Medicaid programs, Medicare, and other government programs. Provisions for government rebates are based on the estimated amount of rebates and incentives to be claimed on the related sales from the period. These reserves are recorded in the same period in which the related revenue is recognized, resulting in a reduction of product revenue. For Medicare, the Company must also estimate the number of patients in the prescription drug coverage gap for whom we will owe an additional liability under the Medicare Part D program. The Company determined that performance obligations are satisfied and product revenue is recognized when a customer takes control of the Company’s product, which occurs at a point in time. This occurs upon delivery of the BREXAFEMME to customers, at which point the Company recognizes revenue. Payment is typically received 70 to 90 days after satisfaction of the Company’s performance obligations. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to a customer (“transaction price”). The transaction price for product sales is reduced by variable consideration related to chargebacks, rebates, discounts, incentives, and returns. The Company will estimate the amount of variable consideration that should be included in the transaction price using the expected value method. These estimates take into consideration prescription demand from commercial providers, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns, and historical trends. These provisions reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration that is included in the transaction price may be constrained and is included in net sales only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. Actual amounts of consideration ultimately received may differ from the Company’s estimates. If actual results in the future vary from the Company’s estimates, the Company will adjust these estimates, which would affect net product revenue and earnings in the period such variances become known. Sales commissions and other incremental costs of obtaining customer contracts are expensed as incurred as the amortization periods would be less than one year . License Agreement Revenue The Company has entered into arrangements involving the sale or license of intellectual property and the provision of other services. When entering into any arrangement involving the sale or license of intellectual property rights and other services, the Company determines whether the arrangement is subject to accounting guidance in ASC 606, Revenue from Contracts with Customers , as well as ASC 808, Collaborative Arrangements ("Topic 808"). If the Company determines that an arrangement includes goods or services that are central to the Company’s business operations for consideration, the Company will then identify the performance obligations in the contract using the unit of account guidance in Topic 606. For a distinct unit of account that is within the scope of Topic 606, the Company applies all of the accounting requirements in Topic 606 to that unit of account, including the recognition, measurement, presentation and disclosure requirements. For a distinct unit of account that is not within the scope of Topic 606, the Company will recognize and measure the distinct unit of account based on other authoritative ASC Topics or on a reasonable, rational, and consistently applied policy election. Analyzing the license arrangements to identify performance obligations requires the use of judgment. In arrangements that include the sale or license of intellectual property and other promised services, the Company first identifies if the licenses are distinct from the other promises in the arrangement. For the license of intellectual property that is distinct, the Company recognizes revenue from consideration allocated to the license when the license is transferred and the customer is able to benefit from the license. If the license is not distinct, the license is combined with other services into a single performance obligation. Factors that are considered in evaluating whether a license is distinct from other promised services include, for example, whether the counterparty can benefit from the license without the promised service on its own or with other readily available resources and whether the promised service is expected to significantly modify or customize the intellectual property. At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being reached. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones and any related constraint, and, if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which will affect revenue in the period of adjustment. In an arrangement with multiple performance obligations, the Company develops estimates and assumptions that require judgment to determine the underlying standalone selling price for each performance obligation, which determines how the transaction price is allocated among the performance obligations. The estimation of the standalone selling price(s) include estimates regarding forecasted cash flows, discount rates, and estimates of costs to be incurred to fulfill its obligations associated with the performance of the research and development activities. The Company evaluates each performance obligation to determine if it can be satisfied at a point in time or over time. Any change made to estimated progress towards completion of a performance obligation and, therefore, license agreement revenue recognized will be recorded as a change in estimate. In addition, variable consideration must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price. The Company constrains variable consideration to the extent that it is probable that it will not result in a significant revenue reversal when the uncertainty associated with the variable consideration is subsequently resolved. The Company will recognize consideration related to sales-based milestone and royalties when the subsequent sales occur pursuant to the royalty exception under ASC 606 because the license is the predominant item to which the royalties or sales-based milestone relate. Product Recall The Company establishes reserves for product recalls on a product-specific basis when circumstances giving rise to the recall become known. The Company estimates product returns from consumers and customers across distribution channels, utilizing third-party data and other assumptions, and these are recorded as a reduction to revenue on the Company’s consolidated statement of operations. Additionally, the Company estimates costs for any additional fees, including but not limited to freight and destruction charges for returned products and costs incurred by third party vendors. These expenses are recorded within selling, general, and administrative expenses within the Company’s consolidated statement of operations as they are in excess of the initial revenue recognized. These estimates are updated and reevaluated each period and the related reserves are adjusted when these factors indicate that the recall reserves are either insufficient to cover or exceed the estimated product recall expenses. Significant changes in the assumptions used to develop estimates for product recall reserves could affect key financial information, including inventory, accrued liabilities, net sales, gross profit, and net income (loss). As of December 31, 2023, the Company recorded products recall reserves of $ 1.9 million, specifically for the voluntary recall of certain lots of BREXAFEMME. The Company reviews the product recall reserve for adequacy and adjusts the product recall accrual, if necessary, based on actual experience and estimated costs to be incurred. Cost of Product Revenues The cost of product revenues consists primarily of impairment expense, distribution, freight costs, royalty costs, and other manufacturing costs. Warrant Liabilities The Company accounts for the warrants associated with the March 2018 public offering, December 2020 public offering, and April 2022 public offering as liabilities measured at fair value. The fair values of these warrants have been determined using the Black-Scholes valuation model ("Black-Scholes"). The warrants are subject to remeasurement at each balance sheet date, using Black-Scholes, with any changes in the fair value of the outstanding warrants recognized in the accompanying consolidated statements of operations. Loan Payable The Company initially reviews loan payables to identify the units of account for recognition purposes. The Company identifies the units of account by identifying each freestanding financial instrument included in the debt arrangement. For freestanding equity-linked financial instruments that are not in the form of shares, liability classification is used if the instrument embodies an obligation to repurchase the Company’s shares that may require the use of cash or other assets or the instrument may require the issuance of a variable number of the Company’s shares with a monetary value that is predominately based on a fixed value, based on variations in variables other than the fair value of the Company’s stock, or based on variations inversely related to the fair value of the Company’s stock. The Company will then review for embedded features within the debt instrument to evaluate whether the embedded features require bifurcation from the debt host instrument. Embedded features typically include conversion or exchange features, redemption features, or other embedded features. The identified embedded feature is bifurcated from the debt host instrument if the criteria in ASC 815-15-25-1 are met. Debt arrangements are classified on the consolidated balance sheet as current if the obligation of the debt arrangement is reasonably expected to be liquidated within twelve months. As of December 31, 2022, the Company's loan payable is recorded net of debt discount which comprised issuance costs, customary closing and final fees, and the fair value of the additional warrants issued in conjunction with the loan payable. The Company's loan payable was fully repaid in May 2023. See Note 8 for further details. Convertible Debt and Derivative Liability In connection with the Company’s issuance of its March 2019 6.0 % Convertible Senior Notes (the “March 2019 Notes”), the Company bifurcated the embedded conversion option, inclusive of the interest make-whole provision and make-whole fundamental change provision, and recorded the embedded conversion option as a long-term derivative liability in the Company’s balance sheet in accordance with FASB ASC 815, Derivatives and Hedging . The convertible debt and the derivative liability associated with the March 2019 Notes is presented in total on the consolidated balance sheet as the convertible debt and derivative liability. The convertible debt is carried at amortized cost. The derivative liability will be remeasured at each reporting period using the binomial lattice model with changes in fair value recorded in the consolidated statements of operations in other expense (income). See Note 8 and 14 for further details. Research and Development Major components of research and development costs include clinical trial activities and services, including related drug formulation, manufacturing, and other development, preclinical studies, cash compensation, stock-based compensation, fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf, materials and supplies, legal services, and regulatory compliance. The Company is required to estimate its expenses resulting from its obligations under contracts with clinical research organizations, clinical site agreements, vendors, and consultants in connection with conducting ibrexafungerp clinical trials and preclinical development. The financial terms of these contracts are subject to negotiations which vary from contract to contract, and may result in payment flows that do not match the periods over which materials or services are provided to the Company under such contracts. The Company’s objective is to reflect the appropriate development and trial expenses in its consolidated financial statements by matching those expenses with the period in which the services and efforts are expended. For clinical trials, the Company accounts for these expenses according to the progress of the trial as measured by actual hours expended by CRO personnel, investigator performance or completion of specific tasks, patient progression, or timing of various aspects of the trial. For preclinical development services performed by outside service providers, the Company determines accrual estimates through financial models, taking into account development progress data received from outside service providers and discussions with applicable Company and service provider personnel. Patent Expenses Costs related to filing and pursuing patent applications, as well as costs related to maintaining the Company's existing patent portfolio, are recorded as expense as incurred since recoverability of such expenditures is uncertain. Fair Value of Financial Instruments 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, based on the Company’s principal or, in absence of a principal, most advantageous market for the specific asset or liability. The Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires the Company to use observable inputs when available, and to minimize the use of unobservable inputs when determining fair value. The three tiers are defined as follows: • Level 1 — Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets; • Level 2 — Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and • Level 3 — Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. Amortization of Debt Issuance Costs and Discount The Company’s convertible debt is recorded net of debt issuance costs and discount which comprised issuance costs and an advisory fee, and the discount initially recognized for the fair value of the bifurcated derivative liability. The portion of the debt issuance costs allocated to the convertible debt, based on the amount of proceeds allocated between the convertible debt and the derivative liability, is being amortized over the term of the convertible debt using the effective interest method in addition to the discount initially recognized for the fair value of the bifurcated derivative liability from the convertible debt. The Company’s loan payable was recorded net of debt discount which comprised issuance costs, customary closing and final fees, and the fair value of the warrants issued in conjunction with the loan payable. The resulting debt discount is being amortized over the term of the loan payable using the effective interest method. The amortization of debt issuance costs and discount is included in other expense within the accompanying consolidated statements of operations. Income Taxes The Company provides for deferred income taxes under the asset and liability method, whereby deferred income taxes result from temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that the Company believes is more likely than not to be realized. The Company recognizes uncertain tax positions when the positions will be more likely than not sustained based solely upon the technical merits of the positions. Stock-Based Compensation The Company measures and recognizes compensation expense for all stock-based payment awards made to employees, officers, directors, and non-employees based on the estimated fair values of the awards as of grant date. The Company values equity instruments and stock options granted to employees and non-employees using the Black-Scholes valuation model. The value of the portion of the award that is ultimately expected to vest is recorded as expense over the requisite service periods. The Company recognize forfeitures as they are incurred. Basic and Diluted Net Income (Loss) per Share of Common Stock The Company calculates net income (loss) per common share in accordance with ASC 260, Earnings Per Share . Basic net income (loss) per common share for the years ended December 31, 2023 and 2022 was determined by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the period. Per ASC 260, Earnings Per Share , the weighted average number of common shares outstanding utilized for determining the basic net income (loss) per common share for the year ended December 31, 2023 includes the outstanding pre-funded warrants to purchase 7,516,267 and 3,200,000 shares of common stock issued in the April 2022 Public Offering and December 2020 public offering, respectively. The outstanding pre-funded warrants to purchase 11,666,667 and 3,200,000 shares of common stock issued in the April 2022 Public Offering and December 2020 public offering were included in year ended December 31, 2022, respectively. Diluted net income (loss) per common share for the years ended December 31, 2023 and 2022 was determined as follows (in thousands, except share and per share amounts): Years Ended December 31, 2023 2022 Net income (loss) allocated to common shares $ 67,041 $ ( 62,809 ) Weighted average common shares outstanding – basic 47,852,833 42,613,510 Dilutive effect of restricted stock units 537,749 — Weighted average common shares outstanding – diluted 48,390,582 42,613,510 Net income (loss) per share – diluted $ 1.39 $ ( 1.47 ) The following potentially dilutive shares of common stock and outstanding restricted stock units that contain certain performance contingencies have not been included in the computation of diluted net income (loss) per share for the years ended December 31, 2023 and 2022, as the result would be anti-dilutive or the performance contingencies have not been met: Years Ended December 31, 2023 2022 Outstanding stock options 1,867,795 1,740,308 Outstanding restricted stock units 400,000 633,270 Warrants to purchase common stock associated with March 2018 public offering - Series 2 — 798,810 Warrants to purchase common stock associated with December 2020 public offering - Series 2 6,800,000 6,800,000 Warrants to purchase common stock associated with April 2022 Public Offering 15,000,000 15,000,000 Common stock associated with the March 2019 Notes 1,138,200 1,138,200 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Warrants to purchase common stock associated with Danforth 50,000 50,000 Total 25,454,806 26,359,399 Segment and Geographic Information Operating segments are defined as components of an enterprise (business activity from which it earns revenue and incurs expenses) about which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM reviews consolidated operating results to make decisions about allocating resources and assessing performance for the entire Company. The Company views its operations and manages its business as one operating segment. The material assets of the Company were held in the United States for the years ended December 31, 2023 and 2022. In July 2019, the Company incorporated SCYNEXIS Pacific Pty Ltd, a wholly-owned subsidiary, in Sydney, Australia, for the initial purpose of conducting certain clinical trials and other research and development activities. Although all operations are primarily based in the United States, the Company generated a portion of its revenue from the license agreements with GSK and Hansoh located outside of the United States for the years ended December 31, 2023 and 2022. All sales, including sales outside of the United States, are denominated in United States dollars. Reclassification of Prior Year Amounts Certain prior year amounts within the changes in operating assets and liabilities on the consolidated statement of cash flows have been reclassified for consistency with the current year presentation. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The amendments in ASU 2016-13 require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) (“ASU 2019-10”), which revised the effective dates for ASU 2016-13 for public business entities that meet the SEC definition of a smaller reporting company to fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company adopted ASU 2016-13 on January 1, 2023 and the adoption did not materially impact the consolidated financial statements. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options and Derivatives and Hedging—Contracts in Entity’s Own Equity: Accounting for Convertible Instruments and Contracts in and Entity’s Own Equity (“ASU 2020-06”). The amendments in ASU 2020-06 reduce the number of accounting models for convertible debt instruments and revises certain guidance relating to the derivative scope exception and earnings per share. The amendments in ASU 2020-06 are effective for public business entities that meet the definition of a SEC filer and a smaller reporting company for fiscal years beginning after December 15, 2023, and interim periods within those years. As a smaller reporting company, the Company is currently evaluating the impact ASU 2020-06 will have on its consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures , which introduced new guidance on disclosures for reportable segments and significant segment expenses,

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	3. Investments I nvestments consisted of the following (in thousands): Amortized Unrealized Unrealized Fair Value As of December 31, 2023 Maturities < 1 Year Corporate bonds $ 35,286 $ 25 $ ( 13 ) $ 35,298 Agency bonds 5,026 6 — 5,032 Total short-term investments $ 40,312 $ 31 $ ( 13 ) $ 40,330 Maturities > 1 Year Corporate bonds $ 23,594 $ 143 $ ( 9 ) $ 23,728 Total investments $ 23,594 $ 143 $ ( 9 ) $ 23,728 As of December 31, 2022 Maturities < 1 Year U.S. government securities $ 27,689 $ — $ ( 160 ) $ 27,529 Total short-term investments $ 27,689 $ — $ ( 160 ) $ 27,529 The Company carries investments at amortized cost. The fair value of the corporate and agency bonds and the U.S government securities is determined based on “Level 2” inputs, which consist of quoted prices for similar assets in active markets. The Company has evaluated the unrealized loss position in the corporate and agency bonds and the U.S. government securities as of the balance sheet dates and did not consider it to be indicative of an other-than-temporary impairment as the securities are highly-rated and the Company expects to realize the full principal amount at maturity.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	4. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): December 31, 2023 2022 Prepaid research and development services $ 196 $ 635 Prepaid insurance 264 622 Other prepaid expenses 182 1,184 Other current assets 4,906 62 Total prepaid expenses and other current assets $ 5,548 $ 2,503

Inventory

Inventory	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory	5. Inventory Inventory consisted of the following (in thousands): December 31, 2023 2022 Raw materials $ — $ 5,093 Work in process — 610 Finished goods — 24 Total inventory, net $ — $ 5,727 As of December 31, 2022, the Company’s inventory consisted of $ 4.9 million of raw materials that are not expected to be sold in one year. As of December 31, 2022, the raw materials that are not expected to be sold in one year is classified as long term within other assets on the accompanying consolidated balance sheet. In September 2023, the Company announced after becoming aware of a risk of potential cross-contamination during the manufacture of ibrexafungerp, the Company was recalling BREXAFEMME from the market and placing a temporary hold on clinical studies of ibrexafungerp. In December 2023, the Company and GSK entered into a Binding MOU for amendment to the GSK License Agreement. The GSK License Agreement was being amended in connection with the delay in the commercialization of BREXAFEMME and further clinical development of ibrexafungerp associated with this event. In evaluating the recoverability of the Company's raw material inventory on hand as of December 31, 2023 given the product recall and Binding MOU, the Company considered the likelihood that revenue will be obtained from the future sale of the related inventory, discussions with regulatory agencies, and other information currently available to the Company. For the year ended December 31, 2023, the Company recognized an impairment loss on the recoverability of its raw material inventory of approximately $ 14.6 million given the Company does not believe the inventory can be sold for commercial or development activities. The $ 14.6 million impairment loss has been recognized in cost of product revenue in the accompanying statement of operations.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	6. Intangible Assets Intangible assets consisted of the following (in thousands): December 31, 2023 2022 Intangible assets $ 1,282 $ 1,282 Less: accumulated amortization ( 1,282 ) ( 874 ) Total intangible assets, net $ — $ 408 For the years ended December 31, 2023 and 2022, the Company recognized $ 0.4 million and $ 0.7 million in amortization expense, respectively. Intangible assets consist primarily of software implementation costs purchased in 2021.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	7. Accrued Expenses Accrued expenses consisted of the following (in thousands): December 31, 2023 2022 Accrued research and development expenses $ 2,830 $ 786 Accrued employee bonus compensation 1,692 1,628 Other accrued expenses 940 1,313 Accrued severance 11 688 Accrued co-pay rebates — 595 Accrued other rebates 89 618 Accrued product recall 1,933 — Total accrued expenses $ 7,495 $ 5,628

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Borrowings	8. Borrowings Loan Agreement On May 13, 2021 (the “Closing Date”), the Company entered into the Loan Agreement with Hercules and SVBB for an aggregate principal amount of $ 60.0 million (the “Term Loan”). Pursuant to the Loan Agreement, the Term Loan was available to the Company in four tranches, subject to certain terms and conditions. In connection with the entering into of the GSK License Agreement, the Company entered into a First Amendment and Consent to Loan and Security Agreement with the Lenders pursuant to which the Lenders consented to the Company entering into the GSK License Agreement and the Company agreed to pay to the Lenders an amount equal to the sum of (i) all outstanding principal plus all accrued and unpaid interest with respect to the amounts loaned under the Loan Agreement (approximately $ 35.4 million), (ii) the prepayment fee payable under the Loan Agreement ($ 262,500 ), (iii) the final payment payable under the Loan Agreement ($ 1,382,500 ), and (iv) all other sums, if any, that shall have become due and payable with respect to loan advances under the Loan Agreement. Upon receipt by the Company of the $ 90.0 million upfront payment from GSK in May 2023, all amounts payable under the Loan Agreement were fully paid. In connection with the repayment of those amounts due, in May 2023, the Company and the Lenders executed a payoff letter confirming the amounts due under the Loan Agreement, and the Company’s confirmation that the Loan Agreement was terminated. During the year ended December 31, 2023, the Company recognized $ 1.9 million in amortization for the remaining debt issuance costs and discount associated with the loan payable with Hercules and SVBB which was fully paid in May 2023. Under the terms of the Loan Agreement, the Company received an initial tranche of $ 20.0 million from the Lenders on the closing date. The second tranche of the Term Loan, consisting of up to an additional $ 10.0 million, became available to the Company upon receipt of approval from the FDA of ibrexafungerp for the treatment of vaginal yeast infections (the “First Performance Milestone”) and was fully funded in June 2021. The third tranche of the Term Loan, consisting of an additional $ 5.0 million, became available to the Company upon (a) the First Performance Milestone and (b) the achievement of the primary endpoint from the Phase 3 study of ibrexafungerp in patients with recurrent vulvovaginal candidiasis, and was fully funded in March 2022. The Term Loan bore interest at a variable annual rate equal to the greater of (a) 9.05 % and (b) the Prime Rate (as reported in the Wall Street Journal) plus 5.80 % (the “Interest Rate”). As of December 31, 2022, the implied secured spread, risk free rate, and secured yield were 9.84 %, 4.37 %, and 14.21 %. At December 31, 2022, the fair value of the loan payable was $ 34.4 million. March 2019 Note Purchase Agreement On March 7, 2019 , the Company entered into a Senior Convertible Note Purchase Agreement (the “March 2019 Note Purchase Agreement”) with Puissance. Pursuant to the March 2019 Note Purchase Agreement, on March 7, 2019, the Company issued and sold to Puissance $ 16.0 million aggregate principal amount of its March 2019 Notes, resulting in $ 14.7 million in net proceeds after deducting $ 1.3 million for an advisory fee and other issuance costs. As of December 31, 2023 and 2022, the Company’s March 2019 Notes consists of the convertible debt balance of $ 12.0 million and $ 11.0 million and the bifurcated embedded conversion option derivative liability of $ 0.2 million and $ 42,000 , respectively. In connection with the Company’s issuance of its March 2019 Notes, the Company bifurcated the embedded conversion option, inclusive of the interest make-whole provision and make-whole fundamental change provision, and recorded the embedded conversion option as a long-term derivative liability in the Company’s balance sheet in accordance with ASC 815, Derivatives and Hedging , at its initial fair value of $ 7.0 million as the interest make-whole provision is settled in shares of common stock. For the years ended December 31, 2023 and 2022, the Company recognized an expense of $ 0.2 million and a gain of $ 1.3 million on the fair value adjustment for the derivative liability. For the years ended December 31, 2023 and 2022, the Company recognized $ 1.0 million and $ 0.7 million, respectively, in amortization of debt issuance costs and discount, related to the March 2019 Notes. The Company estimated the fair value of the convertible debt and derivative liability for the March 2019 Notes using a binomial lattice valuation model and Level 3 inputs. At December 31, 2023 and 2022, the fair value of the convertible debt and derivative liability for the March 2019 Notes is $ 12.7 million and $ 10.8 million, respectively. The March 2019 Notes were issued and sold for cash at a purchase price equal to 100 % of their principal amount, in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), due to the March 2019 Notes being issued to one financially sophisticated investor. The March 2019 Notes bear interest at a rate of 6.0 % per annum payable semiannually in arrears on March 15 and September 15 of each year, beginning September 15, 2019. The March 2019 Notes will mature on March 15, 2025 , unless earlier converted, redeemed or repurchased. The March 2019 Notes constitute general, senior unsecured obligations of the Company. The holder of the March 2019 Notes may convert their March 2019 Notes at their option at any time prior to the close of business on the business day immediately preceding March 15, 2025 into shares of the Company’s common stock. The initial conversion rate is 73.9096 shares of common stock per $ 1,000 principal amount of March 2019 Notes, which is equivalent to an initial conversion price of approximately $ 13.53 and is subject to adjustment in certain events described in the March 2019 Note Purchase Agreement. The Holder upon conversion may also be entitled to receive, under certain circumstances, an interest make-whole payment payable in shares of common stock. In addition, following certain corporate events that occur prior to the maturity date, the Company will, in certain circumstances, increase the conversion rate if the holder elects to convert its March 2019 Notes in connection with such a corporate event. Subject to adjustment in the conversion rate, the number of shares that the Company may deliver in connection with a conversion of the March 2019 Notes, including those delivered in connection with an interest make-whole payment, will not exceed a cap of 81 shares of common stock per $ 1,000 principal amount of the March 2019 Notes. On or after March 15, 2022 , the Company has the right, at its election, to redeem all or any portion of the March 2019 Notes not previously converted if the last reported sale price per share of common stock exceeds 130 % of the conversion price on each of at least 20 trading days (whether or not consecutive) during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice. The redemption price will be 100 % of the principal amount of the March 2019 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If a “fundamental change” (as defined in the March 2019 Note Purchase Agreement) occurs, then, subject to certain exceptions, the Company must offer to repurchase the March 2019 Notes for cash at a repurchase price of 100 % of the principal amount of the March 2019 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the repurchase date. Other Liabilities In February 2021, the Company partnered with Amplity for the commercial launch of BREXAFEMME for the treatment of VVC. Under the terms of the agreement with Amplity, the Company was to utilize Amplity’s commercial execution and resources for sales force, remote engagement, training, market access and select operations services. In October 2022, the Company announced that it was actively pursuing a U.S. commercialization partner to out-license BREXAFEMME in order to refocus the Company's resources on the further clinical development of ibrexafungerp for severe, hospital-based indications. As a result, the Company wound down its promotional activities associated with BREXAFEMME, while keeping BREXAFEMME on the market and available to patients. On November 30, 2022, the Company terminated the agreement with Amplity. Under the terms of the original agreement, Amplity deferred a portion of its direct service fees in the first two years (2021 and 2022) that accrued interest at an annual rate of 12.75 % (“Deferred Fees”). As of December 31, 2022, Deferred Fees of $ 5.8 million, which includes a portion of the $ 1.5 million termination fee that was unpaid as of December 31, 2022, are recognized as short term other liabilities in the consolidated balance sheets. The $ 5.8 million of Deferred Fees as of December 31, 2022 was fully paid as of February 2023. Additionally, as a result of the reduction in internal workforce in the Company's commercial function in 2022, the Company recognized $ 1.3 million in severance costs during the year ended December 31, 2022.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Leases On March 1, 2018, the Company entered into a long-term lease agreement for approximately 19,275 square feet of office space in Jersey City, New Jersey, that the Company identified as an operating lease under ASC 842 (the “Lease”). The lease term is eleven years from August 1, 2018, the commencement date, with total lease payments of $ 7.3 million over the lease term. The Company has the option to renew for two consecutive five-year periods from the end of the first term and the Company is not reasonably certain that the option to renew the Lease will be exercised. Under the Lease, the Company furnished a security deposit in the form of a standby letter of credit in the amount of $ 0.3 million, which will be reduced by fifty-five thousand dollars every two years for ten years after the commencement of the lease . The security deposit is classified as restricted cash in the accompanying consolidated balance sheets. The consideration in the Lease allocated to the single lease component includes the fixed payments for the right to use the office space as well as common area maintenance. The Lease also contains costs associated with certain expense escalation, property taxes, insurance, parking, and utilities which are all considered variable payments and are excluded from the operating lease liability. The incremental borrowing rate utilized approximated the prevailing market interest rate the Company would incur to borrow a similar amount equal to the total Lease payments on a collateralized basis over the term of the Lease. The following table summarizes certain quantitative information associated with the amounts recognized in the accompanying consolidated financial statements for the Lease (dollars in thousands): Years Ended December 31, 2023 2022 Operating lease cost $ 664 $ 664 Variable lease cost 188 49 Total operating lease expense $ 852 $ 713 Cash paid for amounts included in the measurement of operating lease liability $ 715 $ 527 December 31, 2023 December 31, 2022 Remaining Lease term (years) 5.59 6.59 Discount rate 15 % 15 % Future minimum lease payments for all operating leases as of December 31, 2023 are as follows (in thousands): December 31, 2023 2024 730 2025 744 2026 759 2027 774 2028 790 Thereafter 466 Total $ 4,263 The presentation of the operating lease liability as of December 31, 2023 is as follows (in thousands): December 31, 2023 Present value of future minimum lease payments $ 2,921 Operating lease liability, current portion $ 340 Operating lease liability, long-term portion 2,581 Total operating lease liability $ 2,921 Difference between future minimum lease payments and discounted cash flows $ 1,342 License Arrangements with Potential Future Expenditures As of December 31, 2023, the Company had a license arrangement with Merck Sharp & Dohme Corp., or Merck, as amended, that involves potential future expenditures. Under the license arrangement, executed in May 2013, the Company exclusively licensed from Merck its rights to ibrexafungerp in the field of human health. In January 2014, Merck assigned the patents related to ibrexafungerp that it had exclusively licensed to the Company. Ibrexafungerp is the Company's lead product candidate. Pursuant to the terms of the license agreement, Merck was originally eligible to receive milestone payments from the Company that could total $ 19.0 million upon occurrence of specific events, including initiation of a Phase 2 clinical study, new drug application, and marketing approvals in each of the U.S., major European markets, and Japan. In addition, Merck is eligible to receive tiered royalties from the Company based on a percentage of worldwide net sales of ibrexafungerp. The aggregate royalties are mid- to high-single digits. In December 2014, the Company and Merck entered into an amendment to the license agreement that deferred the remittance of a milestone payment due to Merck, such that no amount would be due upon initiation of the first Phase 2 clinical trial of a product containing the ibrexafungerp compound (the “Deferred Milestone”). The amendment also increased, in an amount equal to the Deferred Milestone, the milestone payment that would be due upon initiation of the first Phase 3 clinical trial of a product containing the ibrexafungerp compound. In December 2016 and January 2018, the Company entered into second and third amendments to the license agreement with Merck which clarified what would constitute the initiation of a Phase 3 clinical trial for the purpose of milestone payment. In January 2019, a milestone payment became due to Merck as a result of the initiation of the VANISH Phase 3 VVC program and was paid in March 2019. On December 2, 2020, the Company entered into a fourth amendment to the license agreement with Merck. The amendment eliminates two cash milestone payments that the Company would have paid to Merck upon the first filing of a NDA, triggered by the FDA acceptance for filing of its NDA for ibrexafungerp for the treatment of VVC, and first marketing approval in the U.S., in June 2021 for the Company’s NDA for ibrexafungerp for the treatment of VVC. Such cash milestone payments would have been creditable against future royalties owed to Merck on net sales of ibrexafungerp. With the amendment, these milestones will not be paid in cash and, accordingly, credits will not accrue. Pursuant to the amendment, the Company will also forfeit the credits against future royalties that it had accrued from a prior milestone payment already paid to Merck. All other key terms of the license agreement are unchanged. Clinical Development Arrangements The Company has entered into, and expects to continue to enter into, contracts in the normal course of business with various third parties who support its clinical trials, preclinical research studies, and other services related to its development activities. The scope of the services under these agreements can generally be modified at any time, and the agreement can be terminated by either party after a period of notice and receipt of written notice.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders' Equity	10. Stockholders’ Equity Authorized, Issued, and Outstanding Common Shares The Company’s authorized common stock has a par value of $ 0.001 per share and consists of 150,000,000 shares as of December 31, 2023 and 2022; 37,207,799 and 32,682,342 shares were issued and outstanding at December 31, 2023 and 2022, respectively. Shares Reserved for Future Issuance The Company had reserved shares of common stock for future issuance as follows: December 31, 2023 2022 Outstanding stock options 1,867,795 1,740,308 Outstanding restricted stock units 1,886,374 633,270 Warrants to purchase common stock associated with March 2018 public offering - Series 2 — 798,810 Warrants to purchase common stock associated with December 2020 public offering - Series 2 6,800,000 6,800,000 Prefunded warrants to purchase common stock associated with December 2020 public offering 3,200,000 3,200,000 Warrants to purchase common stock associated with April 2022 Public Offering 15,000,000 15,000,000 Prefunded warrants to purchase common stock associated with April 2022 Public Offering 7,516,267 11,666,667 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Warrants to purchase common stock associated with Danforth 50,000 50,000 For possible future issuance for the conversion of the March 2019 Notes 1,138,200 1,138,200 For possible future issuance under 2014 Plan (Note 13) 848,202 712,020 For possible future issuance under employee stock purchase plan 1,474,045 — For possible future issuance under 2015 Plan (Note 13) 633,590 550,964 Total common shares reserved for future issuance 40,613,284 42,489,050 Liquidation Rights In the event of any liquidation or dissolution of the Company, the holders of the common stock are entitled to the remaining assets of the Company legally available for distribution. Dividends and Voting Rights The holders of the common stock are entitled to receive dividends if and when declared by the Company. Preferred Stock On May 7, 2014, the Company amended and restated its articles of incorporation relating to its approved capital structure. The Company’s board of directors has authorized the Company, subject to limitations prescribed by Delaware law, to issue up to 5,000,000 shares of preferred stock with a par value of $ 0.001 per share in one or more series, to establish from time to time the number of shares to be included in each series and to fix the designation, powers, preferences and rights of the shares of each series and any of its qualifications, limitations or restrictions. The Company’s board of directors can also increase or decrease the number of shares of any series of preferred stock, but not below the number of shares of that series then outstanding, without any further vote or action by the stockholders. The Company’s board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of the common stock. There were no shares of preferred stock issued and outstanding as of December 31, 2023 and 2022. Common Stock Purchase Agreement and Sales Agreements On April 10, 2020, the Company entered into the Common Stock Purchase Agreement with Aspire Capital (the “Common Stock Purchase Agreement”) pursuant to which the Company had the right to sell to Aspire Capital from time to time in its sole discretion up to $ 20.0 million in shares of the Company’s common stock, subject to certain limitations and conditions set forth in the Common Stock Purchase Agreement. The Common Stock Purchase Agreement expired in October 2022. During the year ended December 31, 2022, the Company sold 425,000 shares of its common stock under the Common Stock Purchase Agreement for gross proceeds of $ 1.6 million. During the years ended December 31, 2023, and 2022, the Company sold zero and 137,610 shares of its common stock and received net proceeds of zero and $ 0.7 million, respectively, under the Controlled Equity OfferingSM Sales Agreements with Cantor Fitzgerald & Co. and Ladenburg Thalmann & Co. Inc. (the “Sales Agreements”). April 2022 Public Offering On April 22, 2022, the Company entered into an Equity Underwriting Agreement (the “Underwriting Agreement”) with Guggenheim Securities, LLC, as representative of the several underwriters (the “Underwriters”), relating to the offering, issuance and sale (the “April 2022 Public Offering”) of (a) 3,333,333 shares of the Company’s common stock, par value $ 0.001 per share, (b) prefunded warrants, in lieu of common stock, to purchase 11,666,667 shares of the Company’s common stock, par value $ 0.001 per share, and (c) warrants, which will accompany the common stock or prefunded warrants, to purchase up to an aggregate of 15,000,000 shares of the Company’s common stock. The prefunded warrants entitle the holders to purchase up to 11,666,667 shares of common stock and have an unlimited term and an exercise price of $ 0.001 per share. The warrants entitle the holders to purchase up to an aggregate of 15,000,000 shares of common stock and have a seven-year term and an exercise price of $ 3.45 per share. The warrants that accompany the prefunded warrants have an additional provision entitling the holder thereof to purchase a prefunded warrant rather than a share of common stock at the warrant exercise price less the exercise price of the prefunded warrant purchased. Each warrant is exercisable immediately upon issuance, subject to certain limitations on beneficial ownership. The price to the public in the April 2022 Public Offering was $ 3.00 per share of common stock and accompanying warrants, or in the case of prefunded warrants, $ 2.999 per prefunded warrant and accompanying warrants, which resulted in $ 41.8 million of net proceeds to the Company after deducting the underwriting discount and offering expenses. The prefunded warrants are classified as equity in accordance with ASC 815, Derivatives and Hedging , given the prefunded warrants are indexed to the Company’s own shares of common stock and meet the requirements to be classified in equity. The prefunded warrants were recorded at their relative fair value at issuance in the stockholders’ equity section of the balance sheet and the prefunded warrants are considered outstanding shares in the basic earnings per share calculation for the years ended December 31, 2023 and 2022 given their nominal exercise price. For the years ended December 31, 2023 and 2022, 4,150,400 and zero of the prefunded warrants from the April 2022 Public Offering were exercised for total proceeds of $ 4,150 and zero , respectively. December 2020 Public Offering Warrants On December 17, 2020, the Company completed a public offering (the “December 2020 Public Offering”) of its common stock and warrants pursuant to the Company’s effective shelf registration. The Company sold an aggregate of (a) 8,340,000 shares of the Company’s common stock, par value $ 0.001 per share, (b) prefunded warrants, in lieu of common stock, to purchase 5,260,000 shares of the Company’s common stock, par value $ 0.001 per share, and (c) two series of warrants, which will accompany the common stock or prefunded warrants, to purchase up to an aggregate of 13,600,000 shares of the Company’s common stock. The Series 1 warrants expired in December 2021 and there were 6,800,000 of the Series 2 warrants outstanding as of December 31, 2023 and 2022. The outstanding prefunded warrants as of December 31, 2023 and 2022 entitle the holders to purchase up to 3,200,000 shares of common stock and have an unlimited term and an exercise price of $ 0.001 per share. The prefunded warrants are classified as equity in accordance with ASC 815, Derivatives and Hedging , given the prefunded warrants are indexed to the Company’s own shares of common stock and meet the requirements to be classified in equity. The prefunded warrants were recorded at their relative fair value at issuance in the stockholders’ equity section of the balance sheet and the prefunded warrants are considered outstanding shares in the basic earnings per share calculation for the years ended December 31, 2023 and 2022 given their nominal exercise price. The Series 2 warrants have a three-and-a-half-year term and an exercise price of $ 8.25 per share. There is not expected to be any trading market for the prefunded warrants or the Series 2 warrants issued in the offering. Each warrant is exercisable immediately upon issuance, subject to certain limitations on beneficial ownership. The Series 2 warrants that accompany the prefunded warrants have an additional provision, if certain beneficial ownership limitations are met, entitling the holder thereof to purchase a prefunded warrant rather than a share of common stock at the warrant exercise price less the exercise price of the prefunded warrant purchased. The price to the public in the offering was $ 6.25 per share of common stock and accompanying warrants, or in the case of prefunded warrants, $ 6.249 per prefunded warrant and accompanying warrants. Public Offering Warrant Liabilities The outstanding warrants associated with the March 2018 and December 2020 public offerings contain a provision where the warrant holder has the option to receive cash, equal to the Black-Scholes fair value of the remaining unexercised portion of the warrant, as cash settlement in the event that there is a fundamental transaction (contractually defined to include various merger, acquisition or stock transfer activities). Due to this provision, ASC 480, Distinguishing Liabilities from Equity , requires that these warrants be classified as liabilities. The fair values of these warrants have been determined using the Black-Scholes valuation model, and the changes in the fair value are recorded in the accompanying consolidated statements of operations. The outstanding warrants associated with the April 2022 Public Offering meet the definition of a derivative pursuant to ASC 815, Derivatives and Hedging , and do not meet the derivative scope exception given the warrants do not qualify under the indexation guidance. As a result, the April 2022 Public Offering warrants were initially recognized as liabilities and measured at fair value using the Black-Scholes valuation model. During the year ended December 31, 2023 and 2022, the Company recognized a loss of $ 3.2 million and a gain $ 22.3 million , respectively, due to the change in fair value of the warrant liabilities. Issuance costs of $ 1.7 million initially allocated to the April 2022 Public Offering warrant liabilities were written off upon settlement and were recognized in the gain on the fair value adjustment for the warrant liabilities for the year ended December 31, 2022. As of December 31, 2023 and 2022, the fair value of the warrant liabilities were $ 21.8 million and $ 18.6 million, respectively. Warrant Associated with Danforth Advisors Pursuant to a consulting agreement with Danforth Advisors (“Danforth”) entered into in November 2021, the Company issued to Danforth a warrant to purchase 50,000 shares of the Company’s common stock at an exercise price of $ 5.50 per share. The warrant will expire five years from the date of the grant.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	11. Revenue Product Revenue, Net Net product revenue was $ 1.0 million and $ 5.0 million for the years ended December 31, 2023 and 2022, respectively. Products are sold primarily to wholesalers and specialty pharmacies. Revenue is reduced from wholesaler list price at the time of recognition for expected chargebacks, rebates, discounts, incentives, and returns, which are referred to as gross to net (“GTN”) adjustments. These reductions are currently attributed to various commercial arrangements. Chargebacks and discounts are recognized as a reduction in accounts receivable or as accrued expenses based on their nature and settled through the issuance of credits to the customer or through cash payments to the customer, respectively. All other returns, rebates, and incentives are reflected as accrued expenses and settled through cash payments to the customer. Three wholesalers comprised 44 %, 28 %, and 26 % of the Company’s gross revenue for the year ended December 31, 2023, and 45 %, 28 %, and 21 % of the Company’s gross revenue for the year ended December 31, 2022. The following table summarizes activity in each of the Company’s product revenue provision and allowance categories as of December 31, 2023 and 2022 (in thousands): Discounts and Chargebacks (1) Product Returns (2) Rebates and Incentives (3) Product Recall (4) Total Balance as of December 31, 2021 $ 249 $ 21 $ 1,110 $ — $ 1,380 Provision related to current period revenue 1,493 52 3,916 — 5,461 Changes in estimate related to prior period revenue — — — — — Credit/payments ( 1,487 ) — ( 3,813 ) — ( 5,300 ) Balance as of December 31, 2022 $ 255 $ 73 $ 1,213 $ — $ 1,541 Discounts and Chargebacks (1) Product Returns (2) Rebates and Incentives (3) Product Recall (4) Total Balance as of December 31, 2022 $ 255 $ 73 $ 1,213 $ — $ 1,541 Provision related to current period revenue 1,256 307 1,320 3,057 5,940 Changes in estimate related to prior period revenue ( 11 ) 1,185 ( 86 ) — 1,088 Credit/payments ( 1,500 ) ( 1,529 ) ( 2,358 ) ( 1,125 ) ( 6,512 ) Balance as of December 31, 2023 $ — $ 36 $ 89 $ 1,932 $ 2,057 (1) Discounts and chargebacks include fees for wholesaler fees, prompt pay and other discounts, and chargebacks. Discounts and chargebacks are deducted from gross revenue at the time revenues are recognized and are included as a reduction in accounts receivable or as an accrued expense based on their nature on the Company’s consolidated balance sheet. (2) Provisions for product returns are deducted from gross revenues at the time revenues are recognized and are included in accrued expenses on the Company’s consolidated balance sheet. (3) Rebates and incentives include rebates and co-pay program incentives. Provisions for rebates and incentives are deducted from gross revenues at the time revenues are recognized and are included in accrued expenses on the Company’s consolidated balance sheets. (4) Provisions for product recall are deducted from gross revenues to the extent of revenue recorded related to the recalled product and are included in accrued expenses on the Company’s consolidated balance sheet. GSK License Agreement On March 30, 2023, the Company entered into the GSK License Agreement. Pursuant to the terms of the GSK License Agreement, the Company granted GSK an exclusive (even as to the Company and its affiliates), royalty-bearing, sublicensable license for the development, manufacture, and commercialization of ibrexafungerp, including the approved product BREXAFEMME, for all indications, in all countries other than Greater China and certain other countries already licensed to third parties (the “GSK Territory”). If the existing licenses granted to or agreements with third parties are terminated with respect to any country, GSK will have an exclusive first right to negotiate with the Company to add those additional countries to the GSK Territory. The parties closed the transactions contemplated by the GSK License Agreement in May 2023. The Company retains rights to all other assets, with GSK receiving a right of first negotiation (“ROFN”) to any other enfumafungin-derived compounds or products that the Company may control. Under the terms of the original GSK License Agreement, the Company received a nonrefundable upfront payment of $ 90 million in May 2023. The Company was initially also eligible to receive potential: • regulatory approval milestone payments of up to $ 70 million; • commercial milestone payments of up to $ 115 million based on first commercial sale in invasive candidiasis (U.S./EU); and • and sales milestone payments of up to $ 242.5 million based on annual net sales, with a total of $ 77.5 million to be paid upon achievement of multiple thresholds up through $200 million; a total of $ 65 million to be paid upon achievement of multiple thresholds between $300 million and $500 million; and $ 50 million to be paid at each threshold of $750 million and $1 billion. As previously disclosed, the Company became aware that a non-antibacterial beta-lactam drug substance was manufactured using equipment common to the manufacturing process for ibrexafungerp. Current FDA draft guidance recommends segregating the manufacture of non-antibacterial beta-lactam compounds from other compounds since beta-lactam compounds have the potential to act as sensitizing agents that may trigger hypersensitivity or an allergic reaction in some people. In the absence of the recommended segregation, there is a risk of cross contamination. It is not known whether any ibrexafungerp has been contaminated with a beta-lactam compound. Nonetheless, in light of this risk and out of an abundance of caution, BREXAFEMME (ibrexafungerp tablets) was recalled from the market and clinical studies of ibrexafungerp were placed on temporary hold. On December 26, 2023, the Company and GSK entered into a binding memorandum of understanding ("Binding MOU") for amendment to the GSK License Agreement. The GSK License Agreement was amended in connection with the delay in the commercialization of BREXAFEMME and further clinical development of ibrexafungerp associated with this event. Under the terms of the updated GSK License Agreement, as amended by Binding MOU, the Company is now eligible to receive potential: • regulatory approval milestone payments of up to $ 49 million (revised from up to $ 70 million as provided in the GSK License Agreement); • commercial milestone payments of up to $ 57.5 million based on first commercial sale in invasive candidiasis (U.S./EU) (revised from up to $ 115 million as provided in the GSK License Agreement); and • and sales milestone payments of up to $ 179.5 / $ 169.75 / $ 145.5 million (depending on the date of GSK’s relaunch of BREXAFEMME in the U.S.) (revised from up to $ 242.5 million as provided in the GSK License Agreement). These milestones are based on annual net sales in the GSK Territory, with a total of $ 64 / $ 54.25 / $ 46.5 million to be paid upon achievement of multiple sales thresholds up through $200 million; a total of $ 45.5 / $ 45.5 / $ 39 million to be paid upon achievement of multiple sales thresholds between $300 million and $500 million; and $ 35 / $ 35 / $ 30 million to be paid at each sales threshold of $750 million and $1 billion. The Company will continue to be responsible for the execution and costs of the ongoing clinical studies of ibrexafungerp but will have the potential to receive up to $ 72.35 million in development milestones (revised from up to $ 75.5 million as provided in the GSK License Agreement), which comprise: $ 25 million already paid; $ 10 million for the delivery to GSK of final clinical study reports for the completed FURI, CARES, and NATURE clinical studies; up to $ 30 million for the achievement of two interim milestones associated with the Company's resumption and continued performance of the MARIO Study after the clinical hold is lifted; and $ 7.35 million for the successful completion of the MARIO Study. In the case of each of the above milestones, such milestone events are defined in the GSK License Agreement, as amended by the Binding MOU. GSK will also pay royalties based on cumulative annual sales to us in the mid-single digit to mid-teen range. The royalty terms are not amended by the Binding MOU. These royalty rates are subject to reduction, including in the event of third-party licenses, entry of a generic product, or the expiration of licensed patents. A joint development committee was established between GSK and the Company to coordinate and review ongoing development activities of ibrexafungerp. Unless earlier terminated, the GSK License Agreement will expire on a product-by-product and country-by-country basis at the end of the royalty term for such product in such country. The Company has the right to terminate the GSK License Agreement upon an uncured material breach by, or bankruptcy of, GSK. GSK has the right to terminate the GSK License Agreement at any time for convenience in its entirety or on a product-by-product and country-by-country basis, upon an uncured material breach by, or bankruptcy of, the Company, or for safety reasons. The Company evaluated the GSK License Agreement in accordance with ASC 606 as it includes a customer-vendor relationship as defined under ASC 606 and meets the criteria to be considered a contract. The Company assessed the terms of the GSK License Agreement and identified the following performance obligations which include: (1) the license for the development, manufacture, and commercialization of ibrexafungerp, including the approved product BREXAFEMME, in the GSK Territory, (2) the research and development activities for the MARIO study, and (3) performance obligations for the remaining research and development activities for the ongoing clinical and preclinical studies of ibrexafungerp. For the years ended December 31, 2023 and 2022, the Company's product revenue, net comprised of sales of BREXAFEMME that the Company sold as principal given it maintains control of BREXAFEMME product until delivery to its wholesalers at which point control is transferred. The Company considers the future potential development, regulatory, and commercial milestone payments as well as sales-based milestone and royalties to be variable consideration. The Company constrains variable consideration to the extent that it is probable that it will not result in a significant revenue reversal when the uncertainty associated with the variable consideration is subsequently resolved. The Company will recognize consideration related to sales-based milestone and royalties when the subsequent sales occur pursuant to the royalty exception under ASC 606 because the license is the predominant item to which the royalties or sales-based milestone relate. The total transaction price was $ 136.1 million as of June 30, 2023, which included the initial payment of $ 90.0 million and $ 45.0 million in success-based development milestones. Given the uncertain nature of these payments, the remaining potential development, regulatory, and commercial milestone payments from the GSK License Agreement are not included in the transaction price as they were determined to be fully constrained under ASC 606. The Company allocated the $ 136.1 million transaction price based on relative standalone selling prices of each of the performance obligations as $ 130.1 million for the license, $ 4.8 million for the research and development activities for the MARIO study and $ 1.2 million for the remaining ongoing clinical and preclinical studies of ibrexafungerp. The Company developed the estimated standalone selling price for the license using a Monte Carlo valuation analysis and for the research and development activities, the Company's utilized the estimate of costs to be incurred to fulfill its obligations associated with the performance of the research and development activities, plus a reasonable margin. In developing this estimate for the license, the Company applied significant judgment in the determination of the significant assumptions relating to forecasted future cash flows and discount rates. As of June 30, 2023, the Company provided all necessary information to GSK for it to benefit from the license under the license term. Accordingly, the Company recognized $ 130.1 million in license agreement revenue at a point in time upon the transfer of the license to GSK as of June 30, 2023. For the year ended December 31, 2023, the Company recognized $ 139.0 million in license agreement revenue. As of December 31, 2023, the Company recognized a $ 19.3 million contract asset associated with the success-based milestones associated with the ongoing clinical studies of ibrexafungerp. The Company believes that the $ 19.3 million contract asset is collectible given the Company's probability assessment of achieving the milestones as defined in the GSK License Agreement, ongoing development activities, and other information available to the Company. The Company reassessed the transaction price as of December 31, 2023, including estimated variable consideration included in the transaction price and the remaining milestones continued to be constrained. The Company recognized the revenue associated with the MARIO study and the remaining ongoing clinical and preclinical studies of ibrexafungerp over time using an input method. The input method is based on the actual costs incurred as a percentage of total budgeted costs towards satisfying the performance obligation as this method provides the most faithful depiction of the Company’s performance in transferring control of the services promised to GSK and represents the Company’s best estimate of the period of the obligation. For the year ended December 31, 2023, the Company recognized $ 1.7 million of license agreement revenue from the research and development activities associated with the MARIO study and the remaining ongoing clinical and preclinical studies of ibrexafungerp. As of December 31, 2023, there is $ 1.2 million and $ 2.7 million of current and long-term deferred revenue, respectively, which is expected to be recognized by the end of 2025. The Binding MOU was considered to represent a contract modification pursuant to ASC 606. As a result, the Company recorded $ 4.4 million that was included in license agreement revenue for the year ended December 31, 2023. The $ 4.4 million was recognized as an unbilled receivable as of December 31, 2023 and included in prepaid expenses and other current assets in the consolidated balance sheets. Until the product recall, the Company continued to sell BREXAFEMME in the GSK Territory. The Company was the principal for these transactions under ASC 606 as the Company maintained control of the BREXAFEMME inventory that was then sold to its customers. Hansoh License Agreement In February 2021, the Company entered into an Exclusive License and Collaboration Agreement (the “Hansoh License Agreement”) with Hansoh (Shanghai) Health Technology Co., Ltd., and Jiangsu Hansoh Pharmaceutical Group Company Limited (collectively, “Hansoh”), pursuant to which the Company granted to Hansoh an exclusive license to research, develop and commercialize ibrexafungerp in the Greater China region, including mainland China, Hong Kong, Macau, and Taiwan (the “Territory”). The Company also granted to Hansoh a non-exclusive license to manufacture ibrexafungerp solely for development and commercialization in the Territory. Under the terms of the Hansoh License Agreement, Hansoh shall be responsible for the development, regulatory approval and commercialization of ibrexafungerp in the Territory. Pursuant to the terms of the Hansoh License Agreement, the Company received as consideration for the licenses a nonrefundable upfront cash payment of $ 10.0 million and is entitled to an additional payment that was payable upon the transfer of certain data related to the manufacturing license. In addition, the Company will also be eligible to receive up to $ 110.0 million in potential development and commercial milestones. In addition, during the term of the licensing agreement, the Company is entitled to low double-digit royalties on net product sales. The obligation to pay royalties with respect to sales in a specified region will continue until the later of the date of expiration of all intellectual property and regulatory exclusivity for the product in the region and ten years from the first commercial sale, unless earlier terminated by Hansoh with advanced notice for convenience or under other specified circumstances. The Company is also eligible to receive a milestone related to the successful completion of a manufacturing batch by Hansoh. The Company evaluated the Hansoh License Agreement and concluded that it was subject to ASC 606 as the Company viewed the Hansoh License Agreement as a contract with a customer as the activities were central to its business operations. As such, the Company assessed the terms of the Hansoh License Agreement and identified one performance obligation for the licenses to research, develop, manufacture and commercialize ibrexafungerp in the Territory, including the underlying know-how related to such licenses. The Company also evaluated options for additional goods and services included in the Hansoh License Agreement related to (1) optional technical assistance related to development, regulatory or manufacturing activities and (2) a supply agreement for ibrexafungerp. Such options for additional goods or services were not considered to contain material rights as pricing approximated standalone selling prices and therefore the Company concluded that such options did not represent performance obligations and will be accounted for as separate transactions if and when they occur in the future. The Company determined that the transaction price of $ 12.1 million included the fixed upfront cash payment of $ 10.0 million, an additional amount that was payable upon the transfer of certain data related to the manufacturing license, and $ 1.1 million related to withholding tax obligations that Hansoh remitted on behalf of the Company. The remaining amounts related to the successful completion of a manufacturing batch by Hansoh and potential development milestones represent variable consideration and were constrained as it was concluded that it was not probable that a significant reversal in cumulative revenue recognized will not occur and therefore not included in the transaction price as of December 31, 2023 and 2022. Potential commercial milestones and royalties on net product sales will be recognized in the same period that the underlying net product sales occur as they were determined to relate to the license. The transaction price was recorded in revenue during the year ended December 31, 2021 at a point in time upon control of the license transferring to Hansoh. The Company will reevaluate the transaction price at the end of each reporting period as uncertain events or resolved, or as other changes in circumstances occur. Additionally, pursuant to the Hansoh License Agreement, both the Company and Hansoh agreed to make reasonable efforts to account for applicable taxes, fees, duties, levies, or similar amounts imposed on net income, franchise taxes and profits arising directly or indirectly from the activities of the Hansoh License Agreement. To the extent Hansoh is required by applicable laws to withhold or deduct any tax on any payment to the Company, Hansoh agreed to make certain increases on payments to the Company to ensure that the Company receives a sum equal to what the Company would have received had there been no deduction or withholding. As a result, the Company has recorded revenue and tax withholding expense primarily associated with the up-front payment received by the Company on a gross basis. Cypralis and Waterstone License Agreements In July 2016, the Company entered into an asset purchase agreement with UK-based Cypralis Limited (or "Cypralis"), a life sciences company, for the sale of its cyclophilin inhibitor assets. Cypralis also acquired all patents, patent applications and know-how related to the acquired portfolio. In connection with the asset purchase agreement, the Company is eligible to receive milestone payments upon the successful progression of Cypralis clinical candidates into later stage clinical studies and royalties payable upon product commercialization. The Company retains the right to repurchase the portfolio assets from Cypralis if abandoned or deprioritized. For the years ended December 31, 2023 and 2022, there was no revenue recognized associated with this agreement given the variable consideration associated with the sale of intellectual property to Cypralis was fully constrained as of December 31, 2023. Additionally, in October 2014 the Company entered into a license agreement with Waterstone Pharmaceutical HK Limited (or “Waterstone”) and granted Waterstone an exclusive, worldwide license to develop and commercialize certain non-strategic compounds. The Company is entitled to receive potential milestones and royalties from Waterstone; however, there was no revenue recognized by the Company in 2023 and 2022 associated with this agreement given the variable consideration was fully constrained as of December 31, 2023 and 2022.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The Company’s consolidated financial statements include a total tax expense of $ 0.1 million and a tax benefit of $ 4.7 million on income before taxes of $ 67.2 million and a loss before taxes of $ 67.5 million for the years ended December 31, 2023 and 2022, respectively. The income tax expense (benefit) consisted of the following (dollars in thousands): Years Ended December 31, 2023 2022 Current expense (benefit) U.S. $ 138 $ ( 4,700 ) Non-U.S — — Total current expense (benefit) $ 138 $ ( 4,700 ) Reconciliations of the differences between the expense and benefit for income taxes and income taxes at the statutory U.S. federal income tax rate is as follows (dollars in thousands): 2023 2022 Amount Percent of Pretax Income Amount Percent of Pretax Income Income taxes from continuing operations at statutory rate $ 14,108 ( 21.0 )% $ ( 13,176 ) 21.0 % State income taxes 406 ( 0.6 )% ( 319 ) 0.5 % State effect of permanent items 33 — ( 114 ) 0.2 % Stock-based compensation ( 26 ) — 123 ( 0.2 )% Deferred rate change 1,839 ( 2.7 )% 379 ( 0.6 )% Warrants issuance 697 ( 1.0 )% ( 4,960 ) 7.9 % Expiring NOLs and credits 26,355 ( 39.2 )% — — Other 390 ( 0.6 )% 713 ( 1.2 )% NOL sale — — 237 ( 0.4 )% R&D credit adjustment ( 750 ) 1.1 % — — Increase in valuation allowance ( 42,914 ) 63.9 % 12,417 ( 19.8 )% Total income tax expense (benefit) $ 138 ( 0.1 )% $ ( 4,700 ) 7.4 % The components of deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows (in thousands): December 31, 2023 2022 Noncurrent deferred tax assets (liabilities) Accrued expenses $ 75 $ 578 Stock-based compensation 2,834 2,675 Lease liability 631 689 Other 9,607 4,398 Net operating loss carryforwards 46,437 88,363 Research and development credits 1,044 6,839 Total deferred tax assets 60,628 103,542 Valuation allowances ( 60,628 ) ( 103,542 ) Net deferred tax assets $ — $ — As of December 31, 2023 and 2022, the Company had available federal net operating loss (“NOL”) carryforwards of approximately $ 205.7 million and $ 405.0 million, respectively, and state and net operating loss carryforwards of approximately $ 141.2 million and $ 116.8 million, respectively. The Company’s state and net operating loss carryforwards began to expire in 2019 . As of December 31, 2023, the Company had available federal research and development credit carryforwards of $ 1.0 million which began to expire in 2022 . We completed a Section 382 study of transactions in our stock through December 31, 2023 and concluded that we have experienced ownership changes since inception that we believe under Section 382 and 383 of the Code will result in limitations on our ability to use certain pre-ownership change NOLs and credits. In addition, we may experience subsequent ownership changes as a result of future equity offerings or other changes in the ownership of our stock, some of which are beyond our control. As a result, the amount of the NOLs and tax credit carryforwards presented in our consolidated financial statements are limited and the related amounts have been updated. Similar provisions of state tax law may also apply to limit the use of accumulated state tax attributes. The New Jersey Technology Business Tax Certificate Transfer (NOL) program, administered by the New Jersey Economic Development Authority, enables approved biotechnology companies to sell their unused net operating losses (“NOLs”) and research and development tax credits to unaffiliated, profitable corporate taxpayers in the State of New Jersey (“NJ”) up to a maximum lifetime benefit of $ 20.0 million per business. As of December 31, 2022, the Company has received approximately $ 18.8 million under the program. In February 2022, the Company received a cash receipt of $ 4.7 million from the sale of its NJ state NOLs. The Company recognized an income tax benefit of $ 4.7 million for the year ended December 31, 2022 in the consolidated statement of operations. On December 22, 2017, the “Tax Cuts and Jobs Act” was signed into law. The tax reform has the following effects on the Company: (1) permanently reduces the maximum corporate income tax rate from 35 % to 21 % effective for tax years beginning after December 31, 2017, (2) allows temporary 100 % expensing for certain business assets and property placed in service after September 27, 2018 and before January 1, 2023, (3) disallows NOL carrybacks but allows for the indefinite carryforward of those NOLs which applies to losses arising in tax years beginning after December 31, 2018 and, (4) limits NOL deductions for each year equal to the lesser of the available carryover or 80 % of a taxpayer’s pre-NOL deduction taxable income. This applies to losses arising in tax years ending on or after December 31, 2017. As of December 31, 2023 and 2022, the Company has concluded that it is more likely than not that the Company will not realize the benefit of its deferred tax assets due to its history of losses. Accordingly, the net deferred tax assets have been fully reserved. All tax years remain open to examination by U.S. federal and state income tax authorities because the Company has incurred cumulative net operating losses since inception. The Company applies ASC 740-10-25-5, Income Taxes , formerly FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes , as amended, on January 1, 2009. The difference between the tax benefit recognized in the financial statements and the tax benefit claimed in the tax return is referred to as an unrecognized tax benefit. The following is a tabular reconciliation of the total amounts of unrecognized tax benefits as of December 31, 2023 and 2022 (in thousands): December 31, 2023 2022 Unrecognized tax benefit—January 1 $ 436 $ 436 Additions for tax positions of current period — — Additions for tax positions of prior periods — — Deferred rate change ( 75 ) — Unrecognized tax benefit—December 31 $ 361 $ 436 None of the unrecognized tax benefits would, if recognized, affect the effective tax rate because the Company has recorded a valuation allowance to fully offset federal and state deferred tax assets. The Company has no tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the coming year. The Company has $ 0 provided for interest and penalties associated with uncertain tax positions.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	13. Stock-based Compensation 2009 Stock Option Plan The Company had a share-based compensation plan (the “2009 Stock Option Plan”) under which the Company granted options to purchase shares of common stock to employees, directors, and consultants as either incentive stock options or nonqualified stock options. Incentive stock options could be granted with exercise prices not less than 100 % to 110 % of the fair market value of the common stock. Options granted under the plan generally vest over three to four years and expire in 10 years from the date of grant. 2014 Equity Incentive Plan In February 2014, the Company’s board of directors adopted the 2014 Equity Incentive Plan (“2014 Plan”), which was subsequently ratified by its stockholders and became effective on May 2, 2014 (the “Effective Date”). The 2014 Plan, as amended on June 18, 2014, February 25, 2015, and July 2023, is the successor to and continuation of the 2009 Stock Option Plan. As of the Effective Date, no additional awards will be granted under the 2009 Stock Option Plan, but all stock awards granted under the 2009 Stock Option Plan prior to the Effective Date will remain subject to the terms of the 2009 Stock Option Plan. All awards granted on and after the Effective Date will be subject to the terms of the 2014 Plan. The 2014 Plan provides for the grant of the following awards: (i) incentive stock options, (ii) nonstatutory stock options, (iii) stock appreciation rights, (iv) restricted stock awards, (v) restricted stock unit awards, and (vi) other stock awards. Employees, directors, and consultants are eligible to receive awards. Options granted under the plan generally vest over three to four years and expire in 10 years from the date of grant. Under the 2014 Plan, after giving effect to the increases to the share reserve approved by the Company’s stockholders in September 2014, and June 2015, but excluding the automatic increases discussed below, the aggregate number of shares of common stock that could be issued from and after the Effective Date (the “share reserve”) could not exceed the sum of (i) 112,273 new shares, (ii) the shares that represented the 2009 Stock Option Plan’s available reserve on the Effective Date, and (iii) any returning shares from the 2009 Stock Option Plan. Under the 2014 Plan, the share reserve will automatically increase on January 1st of each year, for a period of not more than 10 years , commencing on January 1, 2015, and ending on January 1, 2024, in an amount equal to 4.0 % of the total number of shares of capital stock outstanding on December 31st of the preceding calendar year. The board of directors may act prior to January 1st of a given year to provide that there will be no increase in the share reserve or that the increase will be a lesser number of shares than would otherwise occur. Pursuant to the terms of the 2014 Plan, on January 1, 2023 and 2022, the Company automatically added 1,901,960 and 1,148,213 shares to the total number shares of common stock available for future issuance under the 2014 Plan, respectively. As of December 31, 2023, there were 848,202 shares of common stock available for future issuance under the 2014 Plan. 2015 Inducement Plan On March 26, 2015, the Company's board of directors adopted the 2015 Inducement Plan (“2015 Plan”). The 2015 Plan provides for the grant of nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, and other forms of equity compensation (collectively, stock awards), all of which may be granted to persons not previously employees or directors of the Company, or following a bona fide period of non-employment, as an inducement material to the individuals’ entering into employment with the Company within the meaning of NASDAQ Listing Rule 5635I(4). The 2015 Plan had an initial share reserve covering 45,000 shares of common stock. On June 9, 2019, April 30, 2021, and October 18, 2022, the Company’s board of directors amended the 2015 Plan, and the initial share reserve for the 2015 Plan was increased from 45,000 to 90,000 , from 90,000 to 500,000 , and from 500,000 to 900,000 shares of common stock, respectively. During the years ended December 31, 2023 and 2022, there were zero and 279,000 granted options of the Company’s common stock under the 2015 Plan, respectively. As of December 31, 2023 and 2022, there were 633,590 and 550,964 shares of common stock available for future issuance under the 2015 Plan, respectively. Option Valuation Method The fair value of a stock option is estimated using an option-pricing model that takes into account as of the grant date the exercise price and expected life of the option, the current price of the underlying stock and its expected volatility, expected dividends on the stock, and the risk-free interest rate for the expected term of the option. The Company has used the simplified method in calculating the expected term of all option grants based on the vesting period. Compensation costs related to share-based payment transactions are recognized in the financial statements upon satisfaction of the requisite service or vesting requirements and forfeitures are recorded as incurred. The Company has elected to use the Black-Scholes option-pricing model. The Black-Scholes option-pricing model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable rather than for use in estimating the fair value of stock options subject to vesting and transferability restrictions. Using the Black-Scholes option-pricing model, the weighted-average fair value of options granted during 2023 and 2022 was $ 1.29 and $ 2.47 per option, respectively. The aggregate fair value of options granted during 2023 and 2022 was $ 0.4 million and $ 2.1 million, respectively. The assumptions used to estimate fair value and the resulting grant date fair values are as follows: Employees Non-employee Years Ended December 31, Years Ended December 31, 2023 2022 2023 2022 Weighted average expected volatility 74.77 % 73.80 % 80.12 % 74.20 % Weighted average risk-free interest rate 3.98 % 2.45 % 3.89 % 3.18 % Weighted average expected term (in years) 6.04 6.04 5.50 5.63 The activity for the 2009 Plan, 2014 Plan and 2015 Plan for the years ended December 31, 2023 is summarized as follows: Number Weighted- Weighted- Aggregate Outstanding — December 31, 2022 1,740,308 $ 12.21 6.16 $ — Granted 303,000 $ 1.87 Forfeited/expired ( 175,513 ) $ 10.21 Outstanding — December 31, 2023 1,867,795 $ 10.72 6.10 $ 184 Exercisable — December 31, 2023 1,320,943 $ 13.92 5.03 $ 53 Vested or expected to vest —December 31, 2023 1,867,795 $ 10.72 6.10 $ 184 The intrinsic values in the table above represent the total intrinsic value (the difference between the Company’s closing stock price as of December 31, 2023, and the exercise price multiplied by the number of options). The total fair value of shares vested for both the years ended December 31, 2023 and 2022 was $ 0.7 million and $ 1.6 million, respectively. As of December 31, 2023, there was approximately $ 1.0 million of total unrecognized compensation cost related to unvested options granted under the plans. That cost is expected to be recognized over a weighted-average period of 2.01 years. Restricted stock unit ("RSU") activity under the 2014 Plan and 2015 Plan for the years ended December 31, 2023, is summarized as follows: Number of Weighted Non-vested at December 31, 2022 633,270 $ 5.29 Granted 1,929,575 $ 1.79 Vested ( 302,561 ) $ 5.01 Forfeited ( 373,910 ) $ 2.62 Non-vested at December 31, 2023 1,886,374 $ 2.28 The fair value of RSUs is based on the market price of the Company's common stock on the date of grant. RSUs generally vest 25 % annually over a four year period from the date of grant. Upon vesting, the RSUs are net share settled to cover the required withholding tax with the remaining shares issued to the holder. The Company recognizes compensation expense for such awards ratably over the corresponding vesting period. As of December 31, 2023, there was approximately $ 2.6 million of total unrecognized compensation cost related to unvested RSU share-based compensation. That cost is expected to be recognized over a weighted-average period of 1.9 years. 2014 Employee Stock Purchase Plan In February 2014, the Company’s board of directors adopted the 2014 Employee Stock Purchase Plan (“2014 ESPP”), which was subsequently ratified by the Company’s stockholders and became effective on May 2, 2014. The purpose of the 2014 ESPP is to provide means by which eligible employees of the Company and of certain designated related corporations may be given an opportunity to purchase shares of the Company’s common stock, and to seek and retain services of new and existing employees and to provide incentives for such persons to exert maximum efforts for the success of the Company. In April 2023, the Company’s board of directors amended the 2014 ESPP, which was subsequently ratified by the Company’s stockholders and became effective on June 14, 2023. Common stock that may be issued under the ESPP Plan will not exceed 1,531,248 shares of common stock, which is the sum of: (i) the 4,779 shares of common stock originally approved; (ii) 26,469 shares of common stock that were added pursuant to the annual increase provision of the ESPP Plan between 2015 and 2023; and (iii) an additional 1,500,000 shares of common stock that were approved by our stockholders at the 2023 annual meeting of stockholders. The 2014 ESPP is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423 of the Internal Revenue Code. During the years ended December 31, 2023 and 2022, the Company issued 28,896 and 6,834 shares of common stock under the 2014 ESPP, respectively. During the years ended December 31, 2023 and 2022, the number of shares of common stock available for issuance under the ESPP was increased by 1,502,941 and 2,941 shares, respectively. As of December 31, 2023 and 2022, there were 1,474,045 and zero shares of common stock available for future issuance under the 2014 ESPP, respectively. Compensation Cost The compensation cost that has been charged against income for stock awards under the 2009 Stock Option Plan, the 2014 Plan, the 2015 Plan, and the 2014 ESPP was $ 2.6 million and $ 3.5 million for the years ended December 31, 2023 and 2022, respectively. Additionally, during the year ended December 31, 2022, the Company recognized $ 0.2 million in stock based compensation associated with the Danforth warrant. The total income tax benefit recognized in the consolidated statements of operations for share-based compensation arrangements was $ 0 for the years ended December 31, 2023 and 2022, respectively. Cash received from options exercised was zero for the years ended December 31, 2023 and 2022, respectively. Stock-based compensation expense related to stock options and stock awards is included in the following line items in the accompanying statements of operations (in thousands): Years Ended December 31, 2023 2022 Research and development $ 873 $ 1,076 Selling, general and administrative 1,751 2,436 Total stock-based compensation expense $ 2,624 $ 3,512

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	14. Fair Value Measurements The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses approximate their respective fair values due to the short-term nature of such instruments. Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period, pursuant to the policy described in Note 2. This determination requires significant judgments to be made. The following table summarizes the conclusions reached as of December 31, 2023 and 2022 for financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Hierarchy Classification Balance Quoted Prices in Active Significant Other Significant Unobservable Inputs (Level 3) December 31, 2023 Cash $ 767 $ 767 — — Restricted cash 543 543 — — Money market funds 33,283 33,283 — — Total assets $ 34,593 $ 34,593 — — Warrant liabilities $ 21,810 — — $ 21,810 Derivative liability 196 — — 196 Total liabilities $ 22,006 — — $ 22,006 December 31, 2022 Cash $ 415 $ 415 — — Restricted cash 218 218 — — Money market funds 45,399 45,399 — — Total assets $ 46,032 $ 46,032 — — Warrant liabilities $ 18,644 — — $ 18,644 Derivative liability 42 — — 42 Total liabilities $ 18,686 — — $ 18,686 The Company measures cash equivalents at fair value on a recurring basis. The fair value of cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. As of December 31, 2023, the cash and cash equivalents of $ 34.1 million and the restricted cash balances of $ 0.4 million and $ 0.2 million within short and long term on the balance sheet, respectively, sum to the total of $ 34.6 million as shown in the statement of cash flows. As of December 31, 2022, the cash and cash equivalents of $ 45.8 million and the restricted cash balances of $ 0.1 million and $ 0.2 million within short and long term on the balance sheet, respectively, sum to the total of $ 46.0 million as shown in the statement of cash flows. Level 3 financial liabilities consist of the warrant liabilities for which there is no current market such that the determination of fair value requires significant judgment or estimation. Changes in fair value measurements categorized within Level 3 of the fair value hierarchy are analyzed each period based on changes in estimates or assumptions and recorded as appropriate. The Company uses the Black-Scholes option valuation model to value the Level 3 warrant liabilities at inception and on subsequent valuation dates. This model incorporates transaction details such as the Company’s stock price, contractual terms, maturity, risk free rates, as well as volatility. The unobservable input for all of the Level 3 warrant liabilities includes volatility. The historical and implied volatility of the Company, using its closing common stock prices and market data, is utilized to reflect future volatility over the expected term of the warrants. At December 31, 2023, the range and weighted average of the Level 3 volatilities utilized in the Black-Scholes model to fair value the warrant liabilities were 87.2 % to 91.0 % and 87.2 %, respectively. At December 31, 2022, the range and weighted average of the Level 3 volatilities utilized in the Black-Scholes model to fair value the warrant liabilities were 101.8 % to 113.0 % and 102.1 %, respectively. The Company utilizes a probability assessment to estimate the likelihood of vesting for the remaining Loan Agreement warrants and allocated the probability of occurrence percentage to the fair values calculated. The Company uses the binomial lattice valuation model to value the Level 3 derivative liabilities at inception and on subsequent valuation dates. This model incorporates transaction details such as the Company’s stock price, contractual terms, dividend yield, risk-free rate, historical volatility, credit rating, market credit spread, and estimated effective yield. The unobservable inputs associated with the Level 3 derivative liability are adjusted equity volatility, market credit spread, and estimated yield. As of December 31, 2023, these inputs were 99.6 %, 1,159 basis points, and 16.3 %, respectively. As of December 31, 2022, these inputs were 68.5 %, 1,495 basis points, and 19.3 %, respectively. The senior convertible notes are initially fair valued using the binomial lattice model and with the straight debt fair value calculated using the discounted cash flow method. The residual difference represents the fair value of the embedded derivative liability and the fair value of the embedded derivative liabilities are reassessed using the binomial lattice valuation model on a quarterly basis. A reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows (in thousands): Warrant Liabilities Balance – January 1, 2023 $ 18,644 Loss adjustment to fair value 3,166 Balance – December 31, 2023 $ 21,810 Derivative Liability Balance – January 1, 2023 $ 42 Loss adjustment to fair value 154 Balance – December 31, 2023 $ 196

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plan	15. Employee Benefit Plan The Company has a 401(k) retirement plan, which covers all U.S. employees scheduled for and working more than 20 hours per week. The Company may provide a discretionary match with a maximum amount of 50 % of the first 6 % of eligible participant’s compensation, which vests ratably over four years . Contributions under the plan were approximately $ 0.2 million for both the years ended December 31, 2023 and 2022, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events 2014 Plan and 2014 ESPP Share Issuance Pursuant to the terms of the 2014 Plan (see Note 13), on January 1, 2024, the Company automatically added 1,916,962 shares to the total number shares of common stock available for future issuance under the 2014 Plan. Pursuant to the terms of the 2014 ESPP (see Note 13), on January 1, 2024, the Company automatically added 2,941 shares to the total number shares of common stock available for future issuance under the 2014 ESPP.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments, which potentially expose the Company to concentrations of credit risk, consist principally of cash on deposit, cash equivalents, investments, and accounts receivable. The Company's money market accounts (recognized as cash and cash equivalents) and investments are with what the Company believes to be high quality issuers. The Company has not experienced any significant losses in such accounts. See Note 11 for concentrations of credit risk associated with the Company’s accounts receivable and revenue with customers.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers any highly liquid investments with a remaining maturity of three months or less when purchased to be cash and cash equivalents. The Company reported cash, cash equivalents, and restricted cash of $ 34.6 million and $ 46.0 million as of December 31, 2023 and 2022, respectively. See Note 9 for further details on the nature of the restricted cash.
Investments	Investments The Company's held-to-maturity investments in corporate and agency bonds are carried at amortized cost and any premiums or discounts are amortized or accreted through the maturity date of the investment. Any impairment that is not deemed to be temporary is recognized in the period identified.
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable are reported on the accompanying consolidated balance sheet at outstanding amounts due from customers for product sales net of discounts, chargebacks, and wholesaler distribution fees. The Company evaluates the collectability of accounts receivable on a regular basis, by reviewing the financial condition and payment history of its customers, an overall review of collections experience on other accounts, and economic factors or events expected to affect future collections experience. An allowance for doubtful accounts is recorded when a receivable is deemed to be uncollectible. The Company did no t record an allowance for doubtful accounts as of December 31, 2023 and 2022.
Allowance for Credit Losses	Allowance for Credit Losses The Company reviews its held-to-maturity investments for credit losses on a collective basis by major security type and in line with the Company's investment policy. As of December 31, 2023, the Company's held-to-maturity investments were in corporate bonds, agency bonds, and U.S. government securities , are highly rated, and the Company does not have a history of credit losses in these investments. The Company reviews the credit quality of its accounts receivables by monitoring the aging of its accounts receivable, the history of write offs for uncollectible accounts, and the credit quality of its significant customers, the current economic environment/macroeconomic trends, supportable forecasts, and other relevant factors. The Company's accounts receivable are with customers that do not have a history of uncollectability nor a history of significantly aged accounts receivables. As of December 31, 2023, the Company did no t recognize a credit loss allowance for its investments or accounts receivable.
Inventory	Inventory, Net Inventory is stated at the lower of cost or net realizable value. Inventory on the accompanying balance sheet includes costs related to the raw material, third party manufacturing, and packaging for BREXAFEMME. Raw material inventory includes the costs associated with the manufacture of ibrexafungerp, the active product ingredient in BREXAFEMME. Work in process inventory includes the costs necessary to package ibrexafungerp into BREXAFEMME, at which point the inventory is then released for commercial use and considered a finished good that is available to be sold. Inventory that is not expected to be sold within one year of the reporting period is classified as long term in other assets on the consolidated balance sheet. Prior to the regulatory approval of an investigational drug, the Company recognizes as research and development expense costs related to the manufacture of an investigational drug when incurred. Upon regulatory approval, the Company begins capitalizing such production and manufacturing expenses as inventory. For BREXAFEMME, capitalization of costs as inventory began upon regulatory approval on June 1, 2021. Inventory that is deemed to not be recoverable or is obsolete is written off as an impairment expense to its net realizable value in cost of product revenues in the accompanying consolidated statement of operations.
Revenue Recognition	Revenue Recognition The Company accounts for revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“Topic 606”). Under ASC Topic 606, an entity recognizes revenue when its customer obtains control of goods and services, in an amount that reflects the consideration that the entity expects to be entitled in exchange for those goods and services. The Company performs the following five steps to recognize revenue under ASC Topic 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only recognizes revenue when it is probable that it will collect the consideration to which it is entitled in exchange for the goods or services that will be transferred to the customer. Product Revenue, Net The Company sells BREXAFEMME primarily to wholesalers in the United States and are initially invoiced at contractual list prices. These wholesalers subsequently resell BREXAFEMME to specialty and other retail pharmacies. In addition to agreements with the wholesalers, the Company enters into arrangements with third-party payors that provide for government-mandated and/or privately-negotiated rebates, chargebacks, and discounts for the purchase of BREXAFEMME. The transaction price for product sales is reduced by variable consideration related to certain gross to net (“GTN”) adjustments, including chargebacks, rebates, discounts, incentives, and returns, and the Company will estimate the amount of this variable consideration that should be included in the transaction price using the expected value method. Specific considerations around the Company’s product revenue gross to net GTN adjustments are as follows: • Voluntary Patient Assistance Programs – Through vendors, the Company offers copay assistance to provide financial assistance to patients for the portion of their prescription cost that is not covered by payors. The reduction in product revenue due to the copay programs is based on an estimate of claims and costs per claim that the Company expects to receive associated with product revenue that has been recognized. This includes potential product revenue that remains in the distribution channel at the end of a reporting period. • Trade Discounts and Wholesaler Fees – The Company offers discounts and pays certain distributor service fees. These are recorded as a reduction in product revenue based on distributors’ purchases and the applicable discount rate. • Product Stocking Fees – During the initial launch of BREXAFEMME, the Company offered additional fees to wholesalers and certain indirect customers to incent stocking at wholesalers and pharmacies. These were recorded as a reduction in product revenue based on these customer’s purchases during the eligible period and limited to a certain volume. • Product Returns – Generally, the Company's customers have the right to return products during the 18-month period beginning six months prior to the labeled expiration date and ending twelve months after the labeled expiration date. Since the Company has a limited history of BREXAFEMME returns, the Company estimated returns based on specific lot expiration dates and industry data for comparable products in the market. BREXAFEMME has a thirty-month shelf life. • Chargebacks – For certain entities, pricing on BREXAFEMME is extended below wholesaler list price. Entities that purchase BREXAFEMME from wholesalers at the lower program price then remit the Company the difference between their acquisition cost and the lower program price, resulting in a reduction of product revenue. Accounts receivable is reduced for the estimated amount of unprocessed chargeback claims attributable to sale. • Commercial Rebates – The Company contracts with commercial payors such as insurers and PBMs and offer rebates for utilization and formulary status. These reserves are recorded in the same period in which the related revenue is recognized, resulting in a reduction of product revenue. • Government Rebates – The Company is subject to discount obligations under state Medicaid programs, Medicare, and other government programs. Provisions for government rebates are based on the estimated amount of rebates and incentives to be claimed on the related sales from the period. These reserves are recorded in the same period in which the related revenue is recognized, resulting in a reduction of product revenue. For Medicare, the Company must also estimate the number of patients in the prescription drug coverage gap for whom we will owe an additional liability under the Medicare Part D program. The Company determined that performance obligations are satisfied and product revenue is recognized when a customer takes control of the Company’s product, which occurs at a point in time. This occurs upon delivery of the BREXAFEMME to customers, at which point the Company recognizes revenue. Payment is typically received 70 to 90 days after satisfaction of the Company’s performance obligations. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to a customer (“transaction price”). The transaction price for product sales is reduced by variable consideration related to chargebacks, rebates, discounts, incentives, and returns. The Company will estimate the amount of variable consideration that should be included in the transaction price using the expected value method. These estimates take into consideration prescription demand from commercial providers, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns, and historical trends. These provisions reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration that is included in the transaction price may be constrained and is included in net sales only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. Actual amounts of consideration ultimately received may differ from the Company’s estimates. If actual results in the future vary from the Company’s estimates, the Company will adjust these estimates, which would affect net product revenue and earnings in the period such variances become known. Sales commissions and other incremental costs of obtaining customer contracts are expensed as incurred as the amortization periods would be less than one year . License Agreement Revenue The Company has entered into arrangements involving the sale or license of intellectual property and the provision of other services. When entering into any arrangement involving the sale or license of intellectual property rights and other services, the Company determines whether the arrangement is subject to accounting guidance in ASC 606, Revenue from Contracts with Customers , as well as ASC 808, Collaborative Arrangements ("Topic 808"). If the Company determines that an arrangement includes goods or services that are central to the Company’s business operations for consideration, the Company will then identify the performance obligations in the contract using the unit of account guidance in Topic 606. For a distinct unit of account that is within the scope of Topic 606, the Company applies all of the accounting requirements in Topic 606 to that unit of account, including the recognition, measurement, presentation and disclosure requirements. For a distinct unit of account that is not within the scope of Topic 606, the Company will recognize and measure the distinct unit of account based on other authoritative ASC Topics or on a reasonable, rational, and consistently applied policy election. Analyzing the license arrangements to identify performance obligations requires the use of judgment. In arrangements that include the sale or license of intellectual property and other promised services, the Company first identifies if the licenses are distinct from the other promises in the arrangement. For the license of intellectual property that is distinct, the Company recognizes revenue from consideration allocated to the license when the license is transferred and the customer is able to benefit from the license. If the license is not distinct, the license is combined with other services into a single performance obligation. Factors that are considered in evaluating whether a license is distinct from other promised services include, for example, whether the counterparty can benefit from the license without the promised service on its own or with other readily available resources and whether the promised service is expected to significantly modify or customize the intellectual property. At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being reached. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones and any related constraint, and, if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which will affect revenue in the period of adjustment. In an arrangement with multiple performance obligations, the Company develops estimates and assumptions that require judgment to determine the underlying standalone selling price for each performance obligation, which determines how the transaction price is allocated among the performance obligations. The estimation of the standalone selling price(s) include estimates regarding forecasted cash flows, discount rates, and estimates of costs to be incurred to fulfill its obligations associated with the performance of the research and development activities. The Company evaluates each performance obligation to determine if it can be satisfied at a point in time or over time. Any change made to estimated progress towards completion of a performance obligation and, therefore, license agreement revenue recognized will be recorded as a change in estimate. In addition, variable consideration must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price. The Company constrains variable consideration to the extent that it is probable that it will not result in a significant revenue reversal when the uncertainty associated with the variable consideration is subsequently resolved. The Company will recognize consideration related to sales-based milestone and royalties when the subsequent sales occur pursuant to the royalty exception under ASC 606 because the license is the predominant item to which the royalties or sales-based milestone relate. Product Recall The Company establishes reserves for product recalls on a product-specific basis when circumstances giving rise to the recall become known. The Company estimates product returns from consumers and customers across distribution channels, utilizing third-party data and other assumptions, and these are recorded as a reduction to revenue on the Company’s consolidated statement of operations. Additionally, the Company estimates costs for any additional fees, including but not limited to freight and destruction charges for returned products and costs incurred by third party vendors. These expenses are recorded within selling, general, and administrative expenses within the Company’s consolidated statement of operations as they are in excess of the initial revenue recognized. These estimates are updated and reevaluated each period and the related reserves are adjusted when these factors indicate that the recall reserves are either insufficient to cover or exceed the estimated product recall expenses. Significant changes in the assumptions used to develop estimates for product recall reserves could affect key financial information, including inventory, accrued liabilities, net sales, gross profit, and net income (loss). As of December 31, 2023, the Company recorded products recall reserves of $ 1.9 million, specifically for the voluntary recall of certain lots of BREXAFEMME. The Company reviews the product recall reserve for adequacy and adjusts the product recall accrual, if necessary, based on actual experience and estimated costs to be incurred. Cost of Product Revenues The cost of product revenues consists primarily of impairment expense, distribution, freight costs, royalty costs, and other manufacturing costs.
Warrant Liabilities	Warrant Liabilities The Company accounts for the warrants associated with the March 2018 public offering, December 2020 public offering, and April 2022 public offering as liabilities measured at fair value. The fair values of these warrants have been determined using the Black-Scholes valuation model ("Black-Scholes"). The warrants are subject to remeasurement at each balance sheet date, using Black-Scholes, with any changes in the fair value of the outstanding warrants recognized in the accompanying consolidated statements of operations.
Loan Payable	Loan Payable The Company initially reviews loan payables to identify the units of account for recognition purposes. The Company identifies the units of account by identifying each freestanding financial instrument included in the debt arrangement. For freestanding equity-linked financial instruments that are not in the form of shares, liability classification is used if the instrument embodies an obligation to repurchase the Company’s shares that may require the use of cash or other assets or the instrument may require the issuance of a variable number of the Company’s shares with a monetary value that is predominately based on a fixed value, based on variations in variables other than the fair value of the Company’s stock, or based on variations inversely related to the fair value of the Company’s stock. The Company will then review for embedded features within the debt instrument to evaluate whether the embedded features require bifurcation from the debt host instrument. Embedded features typically include conversion or exchange features, redemption features, or other embedded features. The identified embedded feature is bifurcated from the debt host instrument if the criteria in ASC 815-15-25-1 are met. Debt arrangements are classified on the consolidated balance sheet as current if the obligation of the debt arrangement is reasonably expected to be liquidated within twelve months. As of December 31, 2022, the Company's loan payable is recorded net of debt discount which comprised issuance costs, customary closing and final fees, and the fair value of the additional warrants issued in conjunction with the loan payable. The Company's loan payable was fully repaid in May 2023. See Note 8 for further details.
Convertible Debt and Derivative Liabilities	Convertible Debt and Derivative Liability In connection with the Company’s issuance of its March 2019 6.0 % Convertible Senior Notes (the “March 2019 Notes”), the Company bifurcated the embedded conversion option, inclusive of the interest make-whole provision and make-whole fundamental change provision, and recorded the embedded conversion option as a long-term derivative liability in the Company’s balance sheet in accordance with FASB ASC 815, Derivatives and Hedging . The convertible debt and the derivative liability associated with the March 2019 Notes is presented in total on the consolidated balance sheet as the convertible debt and derivative liability. The convertible debt is carried at amortized cost. The derivative liability will be remeasured at each reporting period using the binomial lattice model with changes in fair value recorded in the consolidated statements of operations in other expense (income). See Note 8 and 14 for further details.
Research and Development	Research and Development Major components of research and development costs include clinical trial activities and services, including related drug formulation, manufacturing, and other development, preclinical studies, cash compensation, stock-based compensation, fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf, materials and supplies, legal services, and regulatory compliance. The Company is required to estimate its expenses resulting from its obligations under contracts with clinical research organizations, clinical site agreements, vendors, and consultants in connection with conducting ibrexafungerp clinical trials and preclinical development. The financial terms of these contracts are subject to negotiations which vary from contract to contract, and may result in payment flows that do not match the periods over which materials or services are provided to the Company under such contracts. The Company’s objective is to reflect the appropriate development and trial expenses in its consolidated financial statements by matching those expenses with the period in which the services and efforts are expended. For clinical trials, the Company accounts for these expenses according to the progress of the trial as measured by actual hours expended by CRO personnel, investigator performance or completion of specific tasks, patient progression, or timing of various aspects of the trial. For preclinical development services performed by outside service providers, the Company determines accrual estimates through financial models, taking into account development progress data received from outside service providers and discussions with applicable Company and service provider personnel.
Patent Expenses	Patent Expenses Costs related to filing and pursuing patent applications, as well as costs related to maintaining the Company's existing patent portfolio, are recorded as expense as incurred since recoverability of such expenditures is uncertain.
Fair Value of Financial Instruments	Fair Value of Financial Instruments 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, based on the Company’s principal or, in absence of a principal, most advantageous market for the specific asset or liability. The Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires the Company to use observable inputs when available, and to minimize the use of unobservable inputs when determining fair value. The three tiers are defined as follows: • Level 1 — Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets; • Level 2 — Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and • Level 3 — Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances.
Amortization of Debt Issuance Costs and Discount	Amortization of Debt Issuance Costs and Discount The Company’s convertible debt is recorded net of debt issuance costs and discount which comprised issuance costs and an advisory fee, and the discount initially recognized for the fair value of the bifurcated derivative liability. The portion of the debt issuance costs allocated to the convertible debt, based on the amount of proceeds allocated between the convertible debt and the derivative liability, is being amortized over the term of the convertible debt using the effective interest method in addition to the discount initially recognized for the fair value of the bifurcated derivative liability from the convertible debt. The Company’s loan payable was recorded net of debt discount which comprised issuance costs, customary closing and final fees, and the fair value of the warrants issued in conjunction with the loan payable. The resulting debt discount is being amortized over the term of the loan payable using the effective interest method. The amortization of debt issuance costs and discount is included in other expense within the accompanying consolidated statements of operations.
Income Taxes	Income Taxes The Company provides for deferred income taxes under the asset and liability method, whereby deferred income taxes result from temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that the Company believes is more likely than not to be realized. The Company recognizes uncertain tax positions when the positions will be more likely than not sustained based solely upon the technical merits of the positions.
Stock-Based Compensation	Stock-Based Compensation The Company measures and recognizes compensation expense for all stock-based payment awards made to employees, officers, directors, and non-employees based on the estimated fair values of the awards as of grant date. The Company values equity instruments and stock options granted to employees and non-employees using the Black-Scholes valuation model. The value of the portion of the award that is ultimately expected to vest is recorded as expense over the requisite service periods. The Company recognize forfeitures as they are incurred.
Basic and Diluted Net Income (Loss) per Share of Common Stock	Basic and Diluted Net Income (Loss) per Share of Common Stock The Company calculates net income (loss) per common share in accordance with ASC 260, Earnings Per Share . Basic net income (loss) per common share for the years ended December 31, 2023 and 2022 was determined by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the period. Per ASC 260, Earnings Per Share , the weighted average number of common shares outstanding utilized for determining the basic net income (loss) per common share for the year ended December 31, 2023 includes the outstanding pre-funded warrants to purchase 7,516,267 and 3,200,000 shares of common stock issued in the April 2022 Public Offering and December 2020 public offering, respectively. The outstanding pre-funded warrants to purchase 11,666,667 and 3,200,000 shares of common stock issued in the April 2022 Public Offering and December 2020 public offering were included in year ended December 31, 2022, respectively. Diluted net income (loss) per common share for the years ended December 31, 2023 and 2022 was determined as follows (in thousands, except share and per share amounts): Years Ended December 31, 2023 2022 Net income (loss) allocated to common shares $ 67,041 $ ( 62,809 ) Weighted average common shares outstanding – basic 47,852,833 42,613,510 Dilutive effect of restricted stock units 537,749 — Weighted average common shares outstanding – diluted 48,390,582 42,613,510 Net income (loss) per share – diluted $ 1.39 $ ( 1.47 ) The following potentially dilutive shares of common stock and outstanding restricted stock units that contain certain performance contingencies have not been included in the computation of diluted net income (loss) per share for the years ended December 31, 2023 and 2022, as the result would be anti-dilutive or the performance contingencies have not been met: Years Ended December 31, 2023 2022 Outstanding stock options 1,867,795 1,740,308 Outstanding restricted stock units 400,000 633,270 Warrants to purchase common stock associated with March 2018 public offering - Series 2 — 798,810 Warrants to purchase common stock associated with December 2020 public offering - Series 2 6,800,000 6,800,000 Warrants to purchase common stock associated with April 2022 Public Offering 15,000,000 15,000,000 Common stock associated with the March 2019 Notes 1,138,200 1,138,200 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Warrants to purchase common stock associated with Danforth 50,000 50,000 Total 25,454,806 26,359,399
Segment and Geographic Information	Segment and Geographic Information Operating segments are defined as components of an enterprise (business activity from which it earns revenue and incurs expenses) about which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM reviews consolidated operating results to make decisions about allocating resources and assessing performance for the entire Company. The Company views its operations and manages its business as one operating segment. The material assets of the Company were held in the United States for the years ended December 31, 2023 and 2022. In July 2019, the Company incorporated SCYNEXIS Pacific Pty Ltd, a wholly-owned subsidiary, in Sydney, Australia, for the initial purpose of conducting certain clinical trials and other research and development activities. Although all operations are primarily based in the United States, the Company generated a portion of its revenue from the license agreements with GSK and Hansoh located outside of the United States for the years ended December 31, 2023 and 2022. All sales, including sales outside of the United States, are denominated in United States dollars.
Reclassification of Prior Year Amounts	Reclassification of Prior Year Amounts Certain prior year amounts within the changes in operating assets and liabilities on the consolidated statement of cash flows have been reclassified for consistency with the current year presentation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The amendments in ASU 2016-13 require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) (“ASU 2019-10”), which revised the effective dates for ASU 2016-13 for public business entities that meet the SEC definition of a smaller reporting company to fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company adopted ASU 2016-13 on January 1, 2023 and the adoption did not materially impact the consolidated financial statements. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options and Derivatives and Hedging—Contracts in Entity’s Own Equity: Accounting for Convertible Instruments and Contracts in and Entity’s Own Equity (“ASU 2020-06”). The amendments in ASU 2020-06 reduce the number of accounting models for convertible debt instruments and revises certain guidance relating to the derivative scope exception and earnings per share. The amendments in ASU 2020-06 are effective for public business entities that meet the definition of a SEC filer and a smaller reporting company for fiscal years beginning after December 15, 2023, and interim periods within those years. As a smaller reporting company, the Company is currently evaluating the impact ASU 2020-06 will have on its consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures , which introduced new guidance on disclosures for reportable segments and significant segment expenses, including for entities with a single reportable segment. This guidance is effective for the Company for annual reporting periods beginning January 1, 2024 and interim periods beginning January 1, 2025. As a smaller reporting company, the Company is currently evaluating the impact ASU 2023-07 will have on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures , which introduced new guidance on disclosures for income taxes, including enhancements to the rate reconciliation and income taxes paid disclosures. This guidance is effective for the Company for annual reporting periods beginning January 1, 2025. As a smaller reporting company, the Company is currently evaluating the impact ASU 2023-09 will have on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Diluted Net (Loss) Income Per Common Share	The Company calculates net income (loss) per common share in accordance with ASC 260, Earnings Per Share . Basic net income (loss) per common share for the years ended December 31, 2023 and 2022 was determined by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the period. Per ASC 260, Earnings Per Share , the weighted average number of common shares outstanding utilized for determining the basic net income (loss) per common share for the year ended December 31, 2023 includes the outstanding pre-funded warrants to purchase 7,516,267 and 3,200,000 shares of common stock issued in the April 2022 Public Offering and December 2020 public offering, respectively. The outstanding pre-funded warrants to purchase 11,666,667 and 3,200,000 shares of common stock issued in the April 2022 Public Offering and December 2020 public offering were included in year ended December 31, 2022, respectively. Diluted net income (loss) per common share for the years ended December 31, 2023 and 2022 was determined as follows (in thousands, except share and per share amounts): Years Ended December 31, 2023 2022 Net income (loss) allocated to common shares $ 67,041 $ ( 62,809 ) Weighted average common shares outstanding – basic 47,852,833 42,613,510 Dilutive effect of restricted stock units 537,749 — Weighted average common shares outstanding – diluted 48,390,582 42,613,510 Net income (loss) per share – diluted $ 1.39 $ ( 1.47 )
Summary of Antidilutive Securities Excluded from Computation of Weighted Average Common Stock and Outstanding Restricted Stock Units	The following potentially dilutive shares of common stock and outstanding restricted stock units that contain certain performance contingencies have not been included in the computation of diluted net income (loss) per share for the years ended December 31, 2023 and 2022, as the result would be anti-dilutive or the performance contingencies have not been met: Years Ended December 31, 2023 2022 Outstanding stock options 1,867,795 1,740,308 Outstanding restricted stock units 400,000 633,270 Warrants to purchase common stock associated with March 2018 public offering - Series 2 — 798,810 Warrants to purchase common stock associated with December 2020 public offering - Series 2 6,800,000 6,800,000 Warrants to purchase common stock associated with April 2022 Public Offering 15,000,000 15,000,000 Common stock associated with the March 2019 Notes 1,138,200 1,138,200 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Warrants to purchase common stock associated with Danforth 50,000 50,000 Total 25,454,806 26,359,399

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	nvestments consisted of the following (in thousands): Amortized Unrealized Unrealized Fair Value As of December 31, 2023 Maturities < 1 Year Corporate bonds $ 35,286 $ 25 $ ( 13 ) $ 35,298 Agency bonds 5,026 6 — 5,032 Total short-term investments $ 40,312 $ 31 $ ( 13 ) $ 40,330 Maturities > 1 Year Corporate bonds $ 23,594 $ 143 $ ( 9 ) $ 23,728 Total investments $ 23,594 $ 143 $ ( 9 ) $ 23,728 As of December 31, 2022 Maturities < 1 Year U.S. government securities $ 27,689 $ — $ ( 160 ) $ 27,529 Total short-term investments $ 27,689 $ — $ ( 160 ) $ 27,529

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): December 31, 2023 2022 Prepaid research and development services $ 196 $ 635 Prepaid insurance 264 622 Other prepaid expenses 182 1,184 Other current assets 4,906 62 Total prepaid expenses and other current assets $ 5,548 $ 2,503

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following (in thousands): December 31, 2023 2022 Raw materials $ — $ 5,093 Work in process — 610 Finished goods — 24 Total inventory, net $ — $ 5,727

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following (in thousands): December 31, 2023 2022 Intangible assets $ 1,282 $ 1,282 Less: accumulated amortization ( 1,282 ) ( 874 ) Total intangible assets, net $ — $ 408

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): December 31, 2023 2022 Accrued research and development expenses $ 2,830 $ 786 Accrued employee bonus compensation 1,692 1,628 Other accrued expenses 940 1,313 Accrued severance 11 688 Accrued co-pay rebates — 595 Accrued other rebates 89 618 Accrued product recall 1,933 — Total accrued expenses $ 7,495 $ 5,628

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Quantitative Information Associated with Amounts Recognized in Condensed Consolidated Financial Statements for Lease	The following table summarizes certain quantitative information associated with the amounts recognized in the accompanying consolidated financial statements for the Lease (dollars in thousands): Years Ended December 31, 2023 2022 Operating lease cost $ 664 $ 664 Variable lease cost 188 49 Total operating lease expense $ 852 $ 713 Cash paid for amounts included in the measurement of operating lease liability $ 715 $ 527 December 31, 2023 December 31, 2022 Remaining Lease term (years) 5.59 6.59 Discount rate 15 % 15 %
Future Minimum Lease Payments	Future minimum lease payments for all operating leases as of December 31, 2023 are as follows (in thousands): December 31, 2023 2024 730 2025 744 2026 759 2027 774 2028 790 Thereafter 466 Total $ 4,263
Presentation of Operating Lease Liability	The presentation of the operating lease liability as of December 31, 2023 is as follows (in thousands): December 31, 2023 Present value of future minimum lease payments $ 2,921 Operating lease liability, current portion $ 340 Operating lease liability, long-term portion 2,581 Total operating lease liability $ 2,921 Difference between future minimum lease payments and discounted cash flows $ 1,342

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Common Stock Reserved For Future Issuances	The Company had reserved shares of common stock for future issuance as follows: December 31, 2023 2022 Outstanding stock options 1,867,795 1,740,308 Outstanding restricted stock units 1,886,374 633,270 Warrants to purchase common stock associated with March 2018 public offering - Series 2 — 798,810 Warrants to purchase common stock associated with December 2020 public offering - Series 2 6,800,000 6,800,000 Prefunded warrants to purchase common stock associated with December 2020 public offering 3,200,000 3,200,000 Warrants to purchase common stock associated with April 2022 Public Offering 15,000,000 15,000,000 Prefunded warrants to purchase common stock associated with April 2022 Public Offering 7,516,267 11,666,667 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Warrants to purchase common stock associated with Danforth 50,000 50,000 For possible future issuance for the conversion of the March 2019 Notes 1,138,200 1,138,200 For possible future issuance under 2014 Plan (Note 13) 848,202 712,020 For possible future issuance under employee stock purchase plan 1,474,045 — For possible future issuance under 2015 Plan (Note 13) 633,590 550,964 Total common shares reserved for future issuance 40,613,284 42,489,050

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Summary of Activity in Each of Product Revenue Provision and Allowance Categories	The following table summarizes activity in each of the Company’s product revenue provision and allowance categories as of December 31, 2023 and 2022 (in thousands): Discounts and Chargebacks (1) Product Returns (2) Rebates and Incentives (3) Product Recall (4) Total Balance as of December 31, 2021 $ 249 $ 21 $ 1,110 $ — $ 1,380 Provision related to current period revenue 1,493 52 3,916 — 5,461 Changes in estimate related to prior period revenue — — — — — Credit/payments ( 1,487 ) — ( 3,813 ) — ( 5,300 ) Balance as of December 31, 2022 $ 255 $ 73 $ 1,213 $ — $ 1,541 Discounts and Chargebacks (1) Product Returns (2) Rebates and Incentives (3) Product Recall (4) Total Balance as of December 31, 2022 $ 255 $ 73 $ 1,213 $ — $ 1,541 Provision related to current period revenue 1,256 307 1,320 3,057 5,940 Changes in estimate related to prior period revenue ( 11 ) 1,185 ( 86 ) — 1,088 Credit/payments ( 1,500 ) ( 1,529 ) ( 2,358 ) ( 1,125 ) ( 6,512 ) Balance as of December 31, 2023 $ — $ 36 $ 89 $ 1,932 $ 2,057 (1) Discounts and chargebacks include fees for wholesaler fees, prompt pay and other discounts, and chargebacks. Discounts and chargebacks are deducted from gross revenue at the time revenues are recognized and are included as a reduction in accounts receivable or as an accrued expense based on their nature on the Company’s consolidated balance sheet. (2) Provisions for product returns are deducted from gross revenues at the time revenues are recognized and are included in accrued expenses on the Company’s consolidated balance sheet. (3) Rebates and incentives include rebates and co-pay program incentives. Provisions for rebates and incentives are deducted from gross revenues at the time revenues are recognized and are included in accrued expenses on the Company’s consolidated balance sheets. (4) Provisions for product recall are deducted from gross revenues to the extent of revenue recorded related to the recalled product and are included in accrued expenses on the Company’s consolidated balance sheet.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefit)	The income tax expense (benefit) consisted of the following (dollars in thousands): Years Ended December 31, 2023 2022 Current expense (benefit) U.S. $ 138 $ ( 4,700 ) Non-U.S — — Total current expense (benefit) $ 138 $ ( 4,700 )
Schedule of Effective Income Tax Rate Reconciliation	Reconciliations of the differences between the expense and benefit for income taxes and income taxes at the statutory U.S. federal income tax rate is as follows (dollars in thousands): 2023 2022 Amount Percent of Pretax Income Amount Percent of Pretax Income Income taxes from continuing operations at statutory rate $ 14,108 ( 21.0 )% $ ( 13,176 ) 21.0 % State income taxes 406 ( 0.6 )% ( 319 ) 0.5 % State effect of permanent items 33 — ( 114 ) 0.2 % Stock-based compensation ( 26 ) — 123 ( 0.2 )% Deferred rate change 1,839 ( 2.7 )% 379 ( 0.6 )% Warrants issuance 697 ( 1.0 )% ( 4,960 ) 7.9 % Expiring NOLs and credits 26,355 ( 39.2 )% — — Other 390 ( 0.6 )% 713 ( 1.2 )% NOL sale — — 237 ( 0.4 )% R&D credit adjustment ( 750 ) 1.1 % — — Increase in valuation allowance ( 42,914 ) 63.9 % 12,417 ( 19.8 )% Total income tax expense (benefit) $ 138 ( 0.1 )% $ ( 4,700 ) 7.4 %
Schedule of Deferred Tax Assets and Liabilities	The components of deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows (in thousands): December 31, 2023 2022 Noncurrent deferred tax assets (liabilities) Accrued expenses $ 75 $ 578 Stock-based compensation 2,834 2,675 Lease liability 631 689 Other 9,607 4,398 Net operating loss carryforwards 46,437 88,363 Research and development credits 1,044 6,839 Total deferred tax assets 60,628 103,542 Valuation allowances ( 60,628 ) ( 103,542 ) Net deferred tax assets $ — $ —
Schedule of Unrecognized Tax Benefits Roll Forward	The following is a tabular reconciliation of the total amounts of unrecognized tax benefits as of December 31, 2023 and 2022 (in thousands): December 31, 2023 2022 Unrecognized tax benefit—January 1 $ 436 $ 436 Additions for tax positions of current period — — Additions for tax positions of prior periods — — Deferred rate change ( 75 ) — Unrecognized tax benefit—December 31 $ 361 $ 436

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Assumptions Used To Estimate Fair Value of Options	The assumptions used to estimate fair value and the resulting grant date fair values are as follows: Employees Non-employee Years Ended December 31, Years Ended December 31, 2023 2022 2023 2022 Weighted average expected volatility 74.77 % 73.80 % 80.12 % 74.20 % Weighted average risk-free interest rate 3.98 % 2.45 % 3.89 % 3.18 % Weighted average expected term (in years) 6.04 6.04 5.50 5.63
Schedule of Share-based Compensation, Stock Options, Activity	The activity for the 2009 Plan, 2014 Plan and 2015 Plan for the years ended December 31, 2023 is summarized as follows: Number Weighted- Weighted- Aggregate Outstanding — December 31, 2022 1,740,308 $ 12.21 6.16 $ — Granted 303,000 $ 1.87 Forfeited/expired ( 175,513 ) $ 10.21 Outstanding — December 31, 2023 1,867,795 $ 10.72 6.10 $ 184 Exercisable — December 31, 2023 1,320,943 $ 13.92 5.03 $ 53 Vested or expected to vest —December 31, 2023 1,867,795 $ 10.72 6.10 $ 184
Schedule of Restricted Stock Units ("RSU") Activity	Restricted stock unit ("RSU") activity under the 2014 Plan and 2015 Plan for the years ended December 31, 2023, is summarized as follows: Number of Weighted Non-vested at December 31, 2022 633,270 $ 5.29 Granted 1,929,575 $ 1.79 Vested ( 302,561 ) $ 5.01 Forfeited ( 373,910 ) $ 2.62 Non-vested at December 31, 2023 1,886,374 $ 2.28
Stock-Based Compensation Expense Related to Stock Options and Stock Awards	Stock-based compensation expense related to stock options and stock awards is included in the following line items in the accompanying statements of operations (in thousands): Years Ended December 31, 2023 2022 Research and development $ 873 $ 1,076 Selling, general and administrative 1,751 2,436 Total stock-based compensation expense $ 2,624 $ 3,512

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Measured on a Recurring Basis	The following table summarizes the conclusions reached as of December 31, 2023 and 2022 for financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Hierarchy Classification Balance Quoted Prices in Active Significant Other Significant Unobservable Inputs (Level 3) December 31, 2023 Cash $ 767 $ 767 — — Restricted cash 543 543 — — Money market funds 33,283 33,283 — — Total assets $ 34,593 $ 34,593 — — Warrant liabilities $ 21,810 — — $ 21,810 Derivative liability 196 — — 196 Total liabilities $ 22,006 — — $ 22,006 December 31, 2022 Cash $ 415 $ 415 — — Restricted cash 218 218 — — Money market funds 45,399 45,399 — — Total assets $ 46,032 $ 46,032 — — Warrant liabilities $ 18,644 — — $ 18,644 Derivative liability 42 — — 42 Total liabilities $ 18,686 — — $ 18,686
Summary of Reconciliation of Beginning and Ending Balances for Liabilities Measured at Fair Value on Recurring Basis	A reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows (in thousands): Warrant Liabilities Balance – January 1, 2023 $ 18,644 Loss adjustment to fair value 3,166 Balance – December 31, 2023 $ 21,810 Derivative Liability Balance – January 1, 2023 $ 42 Loss adjustment to fair value 154 Balance – December 31, 2023 $ 196

Description of Business and B_2

Description of Business and Basis of Preparation - Additional Information (Detail) - USD ($)	Dec. 31, 2023	May 31, 2023	Mar. 31, 2023	Mar. 30, 2023	Dec. 31, 2022
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Accumulated deficit	$ (355,247,000)				$ (422,288,000)
Cash and cash equivalents and short-term investments	$ 98,000,000
Loan Agreement Amendment
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Upfront fee received		$ 90,000,000
Prepayment fee payable				$ 262,500
Hercules Capital and Silicon Valley Bridge Bank [Member] | Loan Agreement Amendment
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Prepayment fee payable			$ 35,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 USD ($) Segment shares	Dec. 31, 2022 USD ($) shares	Apr. 22, 2022 shares	Dec. 31, 2021 USD ($)	Dec. 17, 2020 shares
Subsidiary, Sale of Stock [Line Items]
Cash, cash equivalents, and restricted cash	$ 34,593,000	$ 46,032,000		$ 104,702,000
Allowance for doubtful accounts	0	$ 0
Credit loss allowance of accounts receivable	0
Products recall reserves	$ 1,900,000
Operating segments (number) | Segment	1
ASU 2016-13
Subsidiary, Sale of Stock [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Early Adoption [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2023
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
December 2020 Public Offering | Pre-funded Warrants
Subsidiary, Sale of Stock [Line Items]
Number of warrants issued to purchase common stock (in shares) | shares	3,200,000	3,200,000			5,260,000
April 2022 Public Offering | Pre-funded Warrants
Subsidiary, Sale of Stock [Line Items]
Number of warrants issued to purchase common stock (in shares) | shares	7,516,267	11,666,667	11,666,667
6.0% April 2020 and March 2019 Convertible Senior Notes
Subsidiary, Sale of Stock [Line Items]
Interest rate	6%
Minimum
Subsidiary, Sale of Stock [Line Items]
Contract with customer, payment term	70 days
Maximum
Subsidiary, Sale of Stock [Line Items]
Contract with customer, payment term	90 days
Customer contract cost, amortization periods	1 year

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Diluted Net (Loss) Income Per Common Share (Detail) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Net income (loss) allocated to common shares	$ 67,041	$ (62,809)
Weighted average common shares outstanding, basic	47,852,833	42,613,510
Dilutive effect of restricted stock units	537,749
Weighted average common shares outstanding, diluted	48,390,582	42,613,510
Net (loss) income per share - diluted	$ 1.39	$ (1.47)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Potentially Dilutive Shares (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	25,454,806	26,359,399
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	1,867,795	1,740,308
Outstanding restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	400,000	633,270
March 2018 Public Offering Series 2 | Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)		798,810
December 2020 Public Offering Series 2 | Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	6,800,000	6,800,000
April 2022 Public Offering | Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	15,000,000	15,000,000
Common stock associated with March 2019 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	1,138,200	1,138,200
Warrants to purchase common stock associated with Loan Agreement | Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	198,811	198,811
Warrants to purchase common stock associated with Danforth | Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	50,000	50,000

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Maturities Less than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	$ 40,312	$ 27,689
Unrealized Gains	31	0
Unrealized Losses	(13)	(160)
Fair Value	40,330	27,529
Maturities Greater than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	23,594
Unrealized Gains	143
Unrealized Losses	(9)
Fair Value	23,728
Corporate bonds
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	35,286
Unrealized Gains	25
Unrealized Losses	(13)
Fair Value	35,298
Corporate bonds | Maturities Less than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	23,594
Unrealized Gains	143
Unrealized Losses	(9)
Fair Value	23,728
Agency bonds
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	5,026
Unrealized Gains	6
Unrealized Losses	0
Fair Value	$ 5,032
U.S. government securities | Maturities Less than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost		27,689
Unrealized Gains		0
Unrealized Losses		(160)
Fair Value		$ 27,529

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid research and development services	$ 196	$ 635
Prepaid insurance	264	622
Other prepaid expenses	182	1,184
Other current assets	4,906	62
Total prepaid expenses and other current assets	$ 5,548	$ 2,503

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 0	$ 5,093
Work in process	0	610
Finished goods	0	24
Total inventory, net	$ 0	$ 5,727

Inventory - Additional Informat

Inventory - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Impairment loss on recoverability of inventory	$ 14.6
Cost of Product Revenue
Inventory [Line Items]
Impairment loss on recoverability of inventory	$ 14.6
Other Assets
Inventory [Line Items]
Raw material classified as long term		$ 4.9

Intangible Assets -Schedule of

Intangible Assets -Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	$ 1,282	$ 1,282
Less: accumulated amortization	(1,282)	(874)
Total intangible assets, net	$ 0	$ 408

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.4	$ 0.7

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued research and development expenses	$ 2,830	$ 786
Accrued employee bonus compensation	1,692	1,628
Other accrued expenses	940	1,313
Accrued severance	11	688
Accrued co-pay rebates	0	595
Accrued other rebates	89	618
Accrued product recall	1,933	0
Total accrued expenses	$ 7,495	$ 5,628

Borrowings - Additional Informa

Borrowings - Additional Information (Detail)			1 Months Ended	12 Months Ended
	May 13, 2021 USD ($) Tranche	Mar. 07, 2019 USD ($) Days $ / shares	Feb. 28, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Mar. 30, 2023 USD ($)	Dec. 31, 2021
Debt Instrument [Line Items]
Loan payable (Note 8)				$ 0	$ 34,393,000
Amortization for remaining debt issuance costs and discount				$ 1,900,000
Common stock, par value (in dollars per share) | $ / shares				$ 0.001	$ 0.001
Vested Loan Agreement warrants					$ 71,000
Reclass of warrant liability to additional paid in capital				$ 0	71,000
Amortization of debt issuance costs and discount				2,994,000	1,589,000
Net carrying amount of convertible debt and derivative liability				$ 12,159,000	11,001,000
Deferred fees, fully paid			$ 5,800,000
Severance costs					1,300,000
Termination fee, unpaid					1,500,000
Other Liabilities
Debt Instrument [Line Items]
Deferred Costs, Current					$ 5,800,000
Interest rate, deferred fees					12.75%		12.75%
Loan and Security Agreement
Debt Instrument [Line Items]
Fair value of loan payable					$ 34,400,000
Loan and Security Agreement | Level 3 Inputs | Secured Spread
Debt Instrument [Line Items]
Debt instrument, measurement input					9.84
Loan and Security Agreement | Level 3 Inputs | Risk Free Rate
Debt Instrument [Line Items]
Debt instrument, measurement input					4.37
Loan and Security Agreement | Level 3 Inputs | Secured Yield
Debt Instrument [Line Items]
Debt instrument, measurement input					14.21
Loan Agreement Amendment
Debt Instrument [Line Items]
Prepayment fee payable						$ 262,500
Final payment payable under loan agreement						1,382,500
Loan Agreement Amendment | GlaxoSmithKline Intellectual Property
Debt Instrument [Line Items]
Upfront payment	$ 90,000,000
Loan Agreement Amendment | Hercules Capital Incorporated And Silicon Valley Bank And Other Lenders
Debt Instrument [Line Items]
Loan payable (Note 8)						$ 35,400,000
Term Loan | Loan and Security Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	9.05%
Term Loan | Loan and Security Agreement | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	5.80%
Term Loan | Loan and Security Agreement | Hercules Capital Inc. and Silicon Valley Bank
Debt Instrument [Line Items]
Number of available tranches | Tranche	4
Term Loan | Loan Agreement Amendment
Debt Instrument [Line Items]
Face amount	$ 60,000,000
Initial Tranche of Term Loan | Loan and Security Agreement
Debt Instrument [Line Items]
Additional borrowing amount available	20,000,000
Second Tranche of Term Loan | Loan and Security Agreement
Debt Instrument [Line Items]
Additional borrowing amount available	10,000,000
Third Tranche of Term Loan | Loan and Security Agreement
Debt Instrument [Line Items]
Additional borrowing amount available	$ 5,000,000
Senior Convertible Note Purchase Agreement
Debt Instrument [Line Items]
Face amount		$ 16,000,000
Notes maturity date		Mar. 15, 2025
Date of issuance and sale of notes		Mar. 07, 2019
Proceeds from debt, net of issuance costs		$ 14,700,000
Payment of debt issuance costs		$ 1,300,000
Purchase price as percentage of principal amount		100%
Interest rate		6%
Payment terms				The March 2019 Notes bear interest at a rate of 6.0% per annum payable semiannually in arrears on March 15 and September 15 of each year, beginning September 15, 2019. The March 2019 Notes will mature on March 15, 2025, unless earlier converted, redeemed or repurchased.
Senior convertible notes				$ 12,000,000	$ 11,000,000
Bifurcated embedded conversion option derivative liability				200,000	42,000,000
Derivative, fair value				7,000,000
Gain (loss) on fair value adjustment of derivative liability				200,000	1,300,000
Amortization of debt issuance costs and discount				1,000,000	700,000
Fair value of convertible debt and derivative liability				$ 12,700,000	$ 10,800,000
Notes maturity description				The March 2019 Notes will mature on March 15, 2025, unless earlier converted, redeemed or repurchased.
Conversion terms				holder of the March 2019 Notes may convert their March 2019 Notes at their option at any time prior to the close of business on the business day immediately preceding March 15, 2025 into shares of the Company’s common stock.
Conversion rate, number of shares to be issued per $1000 of principal (in shares)		73.9096
Principal amount of notes used as the denominator for conversion into notes		$ 1,000
Initial conversion price of notes | $ / shares		$ 13.53
Conversion rate, number of shares to be issued per $1000 of principal (in shares) after adjustment to certain events		81
Principal amount of notes used as the denominator for conversion into notes after adjustment of certain events		$ 1,000
Convertible notes, redemption start date		Mar. 15, 2022
Convertible notes, threshold percentage of stock price trigger		130%
Convertible notes, threshold trading days | Days		20
Convertible notes, threshold consecutive trading days | Days		30
Redemption price as percentage of the principal amount		100%
Redemption price as percentage of the principal amount subject to certain exceptions		100%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)		12 Months Ended
	Mar. 01, 2018 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Commitment And Contingencies [Line Items]
Long-term lease agreement, area of office space | ft²	19,275
Lease term	11 years
Total lease payments	$ 7,300,000	$ 715,000	$ 527,000
Lessee, operating lease, existence of option to extend	true
Renewal term	5 years
Renewal term, description		The Company has the option to renew for two consecutive five-year periods from the end of the first term and the Company is not reasonably certain that the option to renew the Lease will be exercised. Under the Lease, the Company furnished a security deposit in the form of a standby letter of credit in the amount of $0.3 million, which will be reduced by fifty-five thousand dollars every two years for ten years after the commencement of the lease
Security deposit in the form of a standby letter of credit	$ 300,000
Decrease in security deposit	$ 55,000
Maximum
Commitment And Contingencies [Line Items]
Milestone payments from the Company		$ 19,000,000

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Quantitative Information Associated with Amounts Recognized in Condensed Consolidated Financial Statements for Lease (Detail) - USD ($) $ in Thousands		12 Months Ended
	Mar. 01, 2018	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost		$ 664	$ 664
Variable lease cost		188	49
Total operating lease expense		852	713
Cash paid for amounts included in the measurement of operating lease liability	$ 7,300	$ 715	$ 527
Remaining Lease term (years)		5 years 7 months 2 days	6 years 7 months 2 days
Discount rate		15%	15%

Commitments and Contingencies_3

Commitments and Contingencies - Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 730
2025	744
2026	759
2027	774
2028	790
Thereafter	466
Total	$ 4,263

Commitments and Contingencies_4

Commitments and Contingencies - Presentation of Operating Lease Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Present value of future minimum lease payments	$ 2,921
Operating lease liability, current portion	340	$ 282
Operating lease liability, long-term portion	2,581	$ 2,921
Total operating lease liability	2,921
Difference between future minimum lease payments and discounted cash flows	$ 1,342

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)				1 Months Ended	12 Months Ended
	Apr. 22, 2022	Dec. 17, 2020	Apr. 10, 2020	Nov. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 07, 2014
Schedule Of Capitalization Equity [Line Items]
Common stock, par value (in dollars per share)					$ 0.001	$ 0.001
Common stock, shares authorized (in shares)					150,000,000	150,000,000
Common stock, shares issued (in shares)					37,207,799	32,682,342
Common stock, shares outstanding (in shares)					37,207,799	32,682,342
Preferred stock, shares authorized (in shares)					5,000,000	5,000,000		5,000,000
Preferred stock, par value (in dollars per share)					$ 0.001	$ 0.001		$ 0.001
Preferred stock, shares issued (in shares)					0	0
Preferred stock, shares outstanding (in shares)					0	0
Proceeds from common stock issued					$ 0	$ 47,248,000
Warrant liabilities fair value adjustment					3,166,000	(22,301,000)
Warrant liabilities					21,680,000	18,644,000
Common stock issued, net of expenses					4,000	21,010,000
Warrant liabilities					$ 21,800,000	$ 18,600,000
Warrants to purchase common stock associated with Danforth Advisors
Schedule Of Capitalization Equity [Line Items]
Number of warrants issued to purchase common stock (in shares)				50,000
Exercise price of warrants (in dollars per share)				$ 5.5
Warrant expiration period				5 years
Aspire Capital | Common Stock Purchase Agreement
Schedule Of Capitalization Equity [Line Items]
Common stock issued, net of expenses (in shares)						425,000
Proceeds from common stock issued						$ 1,600,000
Cantor Fitzgerald & Co. and Ladenburg Thalmann & Co. Inc. | Sales Agreement
Schedule Of Capitalization Equity [Line Items]
Common stock issued, net of expenses (in shares)					0	137,610
Proceeds from common stock issued					$ 0	$ 700,000
Maximum | Aspire Capital | Common Stock Purchase Agreement
Schedule Of Capitalization Equity [Line Items]
Sale of common stock at sole discretion			$ 20,000,000
Common Stock
Schedule Of Capitalization Equity [Line Items]
Common stock, shares outstanding (in shares)					37,207,799	32,682,342	28,705,334
Common stock issued, net of expenses (in shares)					4,150,400	3,895,943
Common stock issued, net of expenses					$ 4,000	$ 4,000
December 2020 Public Offering
Schedule Of Capitalization Equity [Line Items]
Common stock, par value (in dollars per share)		$ 0.001
Common stock issued, net of expenses (in shares)		8,340,000
Exercise price of warrants (in dollars per share)		$ 0.001
December 2020 Public Offering | Pre-funded Warrants
Schedule Of Capitalization Equity [Line Items]
Common stock, par value (in dollars per share)		$ 0.001
Number of warrants issued to purchase common stock (in shares)		5,260,000			3,200,000	3,200,000
Public offering price		$ 6.249
December 2020 Public Offering | Series 1 Warrant | Maximum
Schedule Of Capitalization Equity [Line Items]
Number of warrants issued to purchase common stock (in shares)		13,600,000
December 2020 Public Offering | Series 2 Warrant
Schedule Of Capitalization Equity [Line Items]
Exercise price of warrants (in dollars per share)		$ 8.25
Warrant term		3 years 6 months
Warrants outstanding					6,800,000	6,800,000
December 2020 Public Offering | Series 2 Warrant | Minimum
Schedule Of Capitalization Equity [Line Items]
Number of warrants issued to purchase common stock (in shares)					3,200,000	3,200,000
December 2020 Public Offering | Common Stock
Schedule Of Capitalization Equity [Line Items]
Public offering price		$ 6.25
April 2022 Public Offering
Schedule Of Capitalization Equity [Line Items]
Common stock issued, net of expenses (in shares)	3,333,333
Pre-funded warrants were exercised for proceeds					$ 4,150,000	$ 0
Proceeds from common stock issued	$ 41,800,000
Warrant liabilities fair value adjustment					$ 1,700,000
April 2022 Public Offering | Pre-funded Warrants
Schedule Of Capitalization Equity [Line Items]
Common stock, par value (in dollars per share)	$ 0.001
Common stock issued, net of expenses (in shares)					4,150,400	0
Number of warrants issued to purchase common stock (in shares)	11,666,667				7,516,267	11,666,667
Public offering price	$ 2.999
April 2022 Public Offering | Series 1 Warrant
Schedule Of Capitalization Equity [Line Items]
Exercise price of warrants (in dollars per share)	$ 0.001
April 2022 Public Offering | Series 1 Warrant | Maximum
Schedule Of Capitalization Equity [Line Items]
Number of warrants issued to purchase common stock (in shares)	11,666,667
April 2022 Public Offering | Series 2 Warrant
Schedule Of Capitalization Equity [Line Items]
Exercise price of warrants (in dollars per share)	$ 3.45
Warrant term	7 years
April 2022 Public Offering | Series 2 Warrant | Maximum
Schedule Of Capitalization Equity [Line Items]
Number of shares received per warrant (in shares)	15,000,000
April 2022 Public Offering | Common Stock
Schedule Of Capitalization Equity [Line Items]
Public offering price	$ 3
April 2022 Public Offering | Warrant | Maximum
Schedule Of Capitalization Equity [Line Items]
Number of warrants issued to purchase common stock (in shares)	15,000,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Reserved Shares of Common Stock for Future Issuance (Detail) - shares	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common shares reserved for future issuance	40,613,284	42,489,050
Stock options
Class of Stock [Line Items]
Common shares reserved for future issuance	1,867,795	1,740,308
Restricted Stock Units
Class of Stock [Line Items]
Common shares reserved for future issuance	1,886,374	633,270
Warrant | Warrants to Purchase Common Stock Associated With April 2022 Public Offering
Class of Stock [Line Items]
Common shares reserved for future issuance	15,000,000	15,000,000
Warrant | March 2018 Public Offering
Class of Stock [Line Items]
Common shares reserved for future issuance	0	798,810
Warrant | December 2020 Public Offering Series 2
Class of Stock [Line Items]
Common shares reserved for future issuance	6,800,000	6,800,000
Warrant | December 2020 Public Offering
Class of Stock [Line Items]
Common shares reserved for future issuance	3,200,000	3,200,000
Warrant | April 2022 Public Offering
Class of Stock [Line Items]
Common shares reserved for future issuance	7,516,267	11,666,667
Warrant | Warrants to purchase common stock associated with Loan Agreement
Class of Stock [Line Items]
Common shares reserved for future issuance	198,811	198,811
Warrant | Warrants to purchase common stock associated with Danforth
Class of Stock [Line Items]
Common shares reserved for future issuance	50,000	50,000
March 2019 Notes
Class of Stock [Line Items]
Common shares reserved for future issuance	1,138,200	1,138,200
2014 Equity Incentive Plan
Class of Stock [Line Items]
Common shares reserved for future issuance	848,202	712,020
2014 Employee Stock Purchase Plan
Class of Stock [Line Items]
Common shares reserved for future issuance	1,474,045	0
2015 Inducement Award Plan
Class of Stock [Line Items]
Common shares reserved for future issuance	633,590	550,964

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($)			1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 26, 2023	Mar. 30, 2023	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Net product revenue					$ 140,141,000	$ 5,091,000
Deferred revenue, current portion					1,189,000	0
Deferred revenue, long term					2,727,000	0
Product Revenue, Net
Disaggregation Of Revenue [Line Items]
Net product revenue					1,044,000	4,988,000
GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
License agreement contract asset					19,300,000
Exclusive License And Collaboration Agreement
Disaggregation Of Revenue [Line Items]
Non refundable upfront payment received						10,000,000
Transaction price					12,100,000
Fixed upfront cash payment					10,000,000
Amount related to withholding tax obligations					1,100,000
Asset Purchase Agreement | Cypralis Limited
Disaggregation Of Revenue [Line Items]
Revenue recognized					0	0
License Agreement
Disaggregation Of Revenue [Line Items]
Revenue recognized					139,000,000
License Agreement | Waterstone Pharmaceutical HK Limited
Disaggregation Of Revenue [Line Items]
Revenue recognized					0	$ 0
License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Success-based development milestones receivable				$ 45,000,000
Development milestones recevied			$ 25,000,000
Revenue recognized					4,400,000
Non refundable upfront payment received		$ 90,000,000
Total transaction price				136,100,000
Payment of transaction price				90,000,000
License transfer performance obligation revenue				130,100,000
Research and development activity				4,800,000
Ongoing clinical and preclinical studies				$ 1,200,000
Unbilled receivable					4,400,000
License Agreement | GlaxoSmithKline Intellectual Property | License Transfer
Disaggregation Of Revenue [Line Items]
Revenue recognized					1,700,000
Achivement of Threshold Upto 200 Million | License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit		77,500,000
Achivement of Threshold Upto 200 Million | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date One
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	$ 64,000,000
Achivement of Threshold Upto 200 Million | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date Two
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	54,250,000
Achivement of Threshold Upto 200 Million | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date Three
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	46,500,000
Achivement of Threshold Upto 300 million to 500 Million | License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit		65,000,000
Achivement of Threshold Upto 300 million to 500 Million | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date One
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	45,500,000
Achivement of Threshold Upto 300 million to 500 Million | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date Two
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	45,500,000
Achivement of Threshold Upto 300 million to 500 Million | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date Three
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	39,000,000
Achivement of Threshold Upto 750 million to 1 Billion | License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit		50,000,000
Achivement of Threshold Upto 750 million to 1 Billion | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date One
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	35,000,000
Achivement of Threshold Upto 750 million to 1 Billion | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date Two
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	35,000,000
Achivement of Threshold Upto 750 million to 1 Billion | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date Three
Disaggregation Of Revenue [Line Items]
Sales milestone payable upon achievement of threshold limit	30,000,000
Completion FURI, CARES, and NATURE Clinical Studies | License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Development milestones recevied	10,000,000
Successful Completion of Mario Study | License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Development milestones recevied	7,350,000
Maximum | Exclusive License And Collaboration Agreement
Disaggregation Of Revenue [Line Items]
Potential development and commercial milestones yet to receive					$ 110,000,000
Maximum | License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Regulatory milestone payments receivable	49,000,000	70,000,000
Commercial milestones payments receivable	57,500,000	115,000,000
Sales milestone payments receivable		242,500,000
Development milestones receivable	72,350,000	$ 75,500,000
Maximum | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date One
Disaggregation Of Revenue [Line Items]
Sales milestone payments receivable	179,500,000
Maximum | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date Two
Disaggregation Of Revenue [Line Items]
Sales milestone payments receivable	169,750,000
Maximum | License Agreement | GlaxoSmithKline Intellectual Property | Relaunch Date Three
Disaggregation Of Revenue [Line Items]
Sales milestone payments receivable	145,500,000
Maximum | Achivement of Two Interim Milestone of Ongoing Mario Study | License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Development milestones receivable	$ 30,000,000
Sales Revenue Net | Customer Concentration Risk | Wholesaler One
Disaggregation Of Revenue [Line Items]
Percentage of gross revenue					44%	45%
Sales Revenue Net | Customer Concentration Risk | Wholesaler Two
Disaggregation Of Revenue [Line Items]
Percentage of gross revenue					28%	28%
Sales Revenue Net | Customer Concentration Risk | Wholesaler Three
Disaggregation Of Revenue [Line Items]
Percentage of gross revenue					26%	21%

Revenue - Summary of Activity i

Revenue - Summary of Activity in Each of Product Revenue Provision and Allowance Categories (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Balance	$ 1,541	$ 1,380
Provision related to current period revenue	5,940	5,461
Changes in estimate related to prior period revenue	1,088	0
Credit/payments	(6,512)	(5,300)
Balance	2,057	1,541
Discounts and Chargebacks
Disaggregation Of Revenue [Line Items]
Balance	255	249
Provision related to current period revenue	1,256	1,493
Changes in estimate related to prior period revenue	(11)	0
Credit/payments	(1,500)	(1,487)
Balance	0	255
Product Returns
Disaggregation Of Revenue [Line Items]
Balance	73	21
Provision related to current period revenue	307	52
Changes in estimate related to prior period revenue	1,185	0
Credit/payments	(1,529)	0
Balance	36	73
Rebates and Incentives
Disaggregation Of Revenue [Line Items]
Balance	1,213	1,110
Provision related to current period revenue	1,320	3,916
Changes in estimate related to prior period revenue	(86)	0
Credit/payments	(2,358)	(3,813)
Balance	89	1,213
Product Recall
Disaggregation Of Revenue [Line Items]
Balance	0	0
Provision related to current period revenue	3,057	0
Changes in estimate related to prior period revenue	0	0
Credit/payments	(1,125)	0
Balance	$ 1,932	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)		$ 138,000	$ (4,700,000)
Income (loss) before taxes		$ 67,179,000	$ (67,509,000)
Corporate income tax rate		21%	21%
Temporary expensing for certain business assets and property, percent		100%
Maximum deduction percentage of pre-NOL taxable income		80%
Unrecognized tax benefits that would impact effective tax rate		$ 0
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit		0
Income tax examination, penalties and interest accrued		$ 0
Maximum
Operating Loss Carryforwards [Line Items]
Corporate income tax rate		21%		35%
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward		$ 205,700,000	$ 405,000,000
Tax credit carryforward		$ 1,000,000
Net operating loss carryforwards expiration year		2022
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward		$ 141,200,000	116,800,000
Net operating loss carryforwards expiration year		2019
State | New Jersey
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)			(4,700,000)
Cash receipt from the sale of state NOLs	$ 4,700,000
Maximum selling value of unused net operating losses and research and development tax credit to profitable tax payers.		$ 20,000,000
Amount received from the program			$ 18,800,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current expense (benefit)
U.S.	$ 138	$ (4,700)
Non-U.S	0	0
Total current expense (benefit)	$ 138	$ (4,700)

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Amount
Income taxes from continuing operations at statutory rate	$ 14,108	$ (13,176)
State income taxes	406	(319)
State effect of permanent items	33	(114)
Stock-based compensation	(26)	123
Deferred rate change	1,839	379
Warrants issuance	697	(4,960)
Expiring NOLs and credits	26,355	0
Other	390	713
NOL sale	0	237
R&D credit adjustment	750	0
Increase in valuation allowance	(42,914)	12,417
Total income tax expense (benefit)	$ 138	$ (4,700)
Percent of Pretax Income
Income taxes from continuing operations at statutory rate	21%	21%
State income taxes	(0.60%)	0.50%
State effect of permanent items	0%	0.20%
Stock-based compensation	0%	(0.20%)
Deferred rate change	(2.70%)	(0.60%)
Warrants issuance	(1.00%)	7.90%
Expiring NOLs and credits	(39.20%)	0%
Other	(0.60%)	(1.20%)
NOL sale	0%	(0.40%)
R&D credit adjustment	1.10%	0%
Increase in valuation allowance	63.90%	(19.80%)
Total income tax (benefit)	(0.10%)	7.40%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Accrued expenses	$ 75	$ 578
Stock-based compensation	2,834	2,675
Lease liability	631	689
Other	9,607	4,398
Net operating loss carryforwards	46,437	88,363
Research and development credits	1,044	6,839
Total deferred tax assets	60,628	103,542
Valuation allowances	(60,628)	(103,542)
Net deferred tax assets	$ 0	$ 0

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits	$ 436	$ 436
Additions for tax positions of current period	0	0
Additions for tax positions of prior periods	0	0
Deferred rate change	(75)	0
Unrecognized tax benefits	$ 361	$ 436

Stock-based Compensation - 2009

Stock-based Compensation - 2009 Stock Option Plan (Detail) - 2009 Stock Option Plan	12 Months Ended
	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration period of options	10 years
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of exercise price	100%
Vesting period of options	3 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of exercise price	110%
Vesting period of options	4 years

Stock-based Compensation - 2014

Stock-based Compensation - 2014 Equity Incentive Plan (Detail) - 2014 Equity Incentive Plan - shares				12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	May 02, 2014	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of additional awards expected to be granted (in shares)			0
Expiration period of options				10 years
Common stock outstanding percentage			4%
Share-based compensation arrangement by share-based payment award, number of additional shares authorized	1,901,960	1,148,213
Possible future issuance under equity compensation plan (in shares)				848,202
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of options				3 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of options				4 years
Base number of new shares available for future issuance under equity incentive plan (in shares)			112,273
Common stock issuable period			10 years

Stock-based Compensation - 2015

Stock-based Compensation - 2015 Inducement Plan (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Oct. 18, 2022	Apr. 30, 2021	Jun. 09, 2019	Jun. 08, 2019	Mar. 26, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option to purchase (shares)	303,000
2015 Inducement Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized under the plan (in shares)			900,000	500,000	90,000	45,000	45,000
Option to purchase (shares)	0	279,000
Possible future issuance under equity compensation plan (in shares)	633,590	550,964

Stock-based Compensation - Opti

Stock-based Compensation - Option Valuation Method - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Weighted average value of options granted in period (in dollars per share)	$ 1.29	$ 2.47
Aggregate fair value of options granted	$ 0.4	$ 2.1

Stock-based Compensation - Op_2

Stock-based Compensation - Option Valuation Method (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average expected volatility	74.77%	73.80%
Weighted average risk-free interest rate	3.98%	2.45%
Weighted average expected term (in years)	6 years 14 days	6 years 14 days
Share-based Payment Arrangement, Nonemployee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average expected volatility	80.12%	74.20%
Weighted average risk-free interest rate	3.89%	3.18%
Weighted average expected term (in years)	5 years 6 months	5 years 7 months 17 days

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Beginning balance - Outstanding (shares)	1,740,308
Granted (shares)	303,000
Forfeited/expired (shares)	(175,513)
Ending balance - Outstanding (shares)	1,867,795	1,740,308
Exercisable (shares)	1,320,943
Vested or expected to vest (shares)	1,867,795
Weighted- Average Exercise Price
Beginning balance - Outstanding (in dollars per share)	$ 12.21
Granted (in dollars per share)	1.87
Forfeited/expired (in dollars per share)	10.21
Ending balance - Outstanding (in dollars per share)	10.72	$ 12.21
Exercisable (in dollars per share)	13.92
Vested or expected to vest (in dollars per share)	$ 10.72
Weighted- Average Remaining Contractual Life (in years)
Balance - Outstanding	6 years 1 month 6 days	6 years 1 month 28 days
Exercisable	5 years 10 days
Vested or expected to vest	6 years 1 month 6 days
Aggregate Intrinsic Value ($000)
Balance - Outstanding	$ 184	$ 0
Exercisable	53
Vested and expected to vest	$ 184

Stock-based Compensation - St_2

Stock-based Compensation - Stock Option Activity - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Total fair value of shares vested during the year	$ 0.7	$ 1.6
Total unrecognized compensation cost related to unvested share-based compensation arrangements	$ 1
Total unrecognized compensation cost related to unvested share-based compensation arrangements, recognition period	2 years 3 days

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Restricted Stock Units ("RSU") Activity (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Weighted Average Grant Date Fair Value Per Share
Total unrecognized compensation cost related to unvested share-based compensation arrangements, recognition period	2 years 3 days
Outstanding restricted stock units
Number of Shares
Beginning balance - Outstanding (shares) | shares	633,270
Options granted in period (shares) | shares	1,929,575
Vested (shares) | shares	(302,561)
Forfeited (shares) | shares	(373,910)
Ending balance - Outstanding (shares) | shares	1,886,374
Weighted Average Grant Date Fair Value Per Share
Beginning balance - Outstanding (in dollars per share) | $ / shares	$ 5.29
Granted (in dollars per share) | $ / shares	1.79
Vested (in dollars per share) | $ / shares	5.01
Forfeited (in dollars per share) | $ / shares	2.62
Ending balance - Outstanding (in dollars per share) | $ / shares	$ 2.28
Vesting percentage	25%
Vesting period of options	4 years
Total unrecognized compensation cost related to unvested RSU share-based compensation | $	$ 2.6
Total unrecognized compensation cost related to unvested share-based compensation arrangements, recognition period	1 year 10 months 24 days

Stock-based Compensation - 20_2

Stock-based Compensation - 2014 Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-Based Payment Arrangement, Expense		$ 2,624	$ 3,512
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock issued through employee stock purchase plan (in shares)		28,896	6,834
2014 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized under the plan (in shares)	1,531,248
Number of shares increase in annual provision	26,469
Common stock issued through employee stock purchase plan (in shares)		28,896	6,834
Share-based compensation arrangement by share-based payment award, number of additional shares authorized	1,500,000	1,502,941	2,941
Possible future issuance under equity compensation plan (in shares)		1,474,045	0
2014 Employee Stock Purchase Plan | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized under the plan (in shares)	4,779

Stock-based Compensation - Comp

Stock-based Compensation - Compensation Cost (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 2,624,000	$ 3,512,000
Tax benefit from compensation expense	0	0
Cash received from option exercised	$ 0	0
Warrant Associated With Danforth
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense		$ 200,000

Stock-based Compensation - Expe

Stock-based Compensation - Expense Related to Stock Options and Stock Awards (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense related to stock options	$ 2,624	$ 3,512
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense related to stock options	873	1,076
Selling, general and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense related to stock options	$ 1,751	$ 2,436

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Instruments Measured on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	$ 34,593	$ 46,032
Fair value of financial liabilities	22,006	18,686
Warrant liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	21,810	18,644
Derivative liability
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	42	196
Cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	767	415
Restricted cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	543	218
Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	33,283	45,399
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	34,593	46,032
Fair value of financial liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Warrant liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivative liability
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	767	415
Quoted Prices in Active Markets for Identical Assets (Level 1) | Restricted cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	543	218
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	33,283	45,399
Significant Other Observable Inputs (Level 2)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	0	0
Fair value of financial liabilities	0	0
Significant Other Observable Inputs (Level 2) | Warrant liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	0	0
Significant Other Observable Inputs (Level 2) | Derivative liability
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	0	0
Significant Other Observable Inputs (Level 2) | Cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	0	0
Significant Other Observable Inputs (Level 2) | Restricted cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	0	0
Significant Other Observable Inputs (Level 2) | Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	0	0
Significant Unobservable Inputs (Level 3)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	0	0
Fair value of financial liabilities	22,006	18,686
Significant Unobservable Inputs (Level 3) | Warrant liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	21,810	18,644
Significant Unobservable Inputs (Level 3) | Derivative liability
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	42	196
Significant Unobservable Inputs (Level 3) | Cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	0	0
Significant Unobservable Inputs (Level 3) | Restricted cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	0	0
Significant Unobservable Inputs (Level 3) | Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Measurements, Recurring
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	$ 34,593	$ 46,032
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Recurring
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	34,100	45,800
Short term restricted cash balance	400	100
Long term restricted cash balance	200	200
Fair value of financial assets	34,593	46,032
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	$ 0	$ 0
Significant Unobservable Inputs (Level 3) | Stock Price Volatility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative liabilities, unobservable inputs rate	99.6	68.5
Significant Unobservable Inputs (Level 3) | Stock Price Volatility | Minimum
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Warrant liabilities, stock price volatility rate	87.2	101.8
Significant Unobservable Inputs (Level 3) | Stock Price Volatility | Maximum
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Warrant liabilities, stock price volatility rate	91	113
Significant Unobservable Inputs (Level 3) | Stock Price Volatility | Weighted Average
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Warrant liabilities, stock price volatility rate	87.2	102.1
Significant Unobservable Inputs (Level 3) | Secured Spread
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative liabilities, unobservable inputs rate	1,159	1,495
Significant Unobservable Inputs (Level 3) | Estimated Yield
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative liabilities, unobservable inputs rate	16.3	19.3

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Reconciliation of Beginning and Ending Balances for Liabilities Measured at Fair Value on Recurring Basis (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Warrant liabilities
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 18,644
Loss adjustment to fair value	3,166
Ending balance	21,810
Derivative liabilities
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	42
Loss adjustment to fair value	154
Ending balance	$ 196

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) Hours	Dec. 31, 2022 USD ($)
Retirement Benefits [Abstract]
Work hours per week | Hours	20
Employer matching percent	50%
Maximum percentage of contributions per employee	6%
Vesting period	4 years
Contribution amount | $	$ 0.2	$ 0.2

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - shares				1 Months Ended	12 Months Ended
	Jan. 01, 2024	Jan. 01, 2023	Jan. 01, 2022	Apr. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
2014 Equity Incentive Plan
Subsequent Event [Line Items]
Share-based compensation arrangement by share-based payment award, number of additional shares authorized		1,901,960	1,148,213
2014 Employee Stock Purchase Plan
Subsequent Event [Line Items]
Share-based compensation arrangement by share-based payment award, number of additional shares authorized				1,500,000	1,502,941	2,941
Subsequent Event | 2014 Equity Incentive Plan
Subsequent Event [Line Items]
Share-based compensation arrangement by share-based payment award, number of additional shares authorized	1,916,962
Subsequent Event | 2014 Employee Stock Purchase Plan
Subsequent Event [Line Items]
Share-based compensation arrangement by share-based payment award, number of additional shares authorized	2,941