SCYNEXIS (SCYX) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 01, 2024
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 Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		37,779,796
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
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 Quarterly Report	true
Document Transition Report	false
Title of Each Class	Common Stock, par value $0.001 per share
Name of Each Exchange on Which Registered	NASDAQ

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 35,482	$ 34,050
Short-term investments	44,762	40,312
Prepaid expenses and other current assets	1,583	5,548
License agreement receivable	0	2,463
License agreement contract asset	19,466	19,363
Restricted cash	380	380
Total current assets	101,673	102,116
Investments	13,943	23,594
Deferred offering costs	175	175
Restricted cash	163	163
Operating lease right-of-use asset (See Note 7)	2,300	2,364
Total assets	118,254	128,412
Current liabilities:
Accounts payable	8,918	7,149
Accrued expenses	4,601	7,495
Deferred revenue, current portion	1,083	1,189
Operating lease liability, current portion (See Note 7)	356	340
Warrant liabilities	0	130
Convertible debt and derivative liability (See Note 6)	12,391	0
Total current liabilities	27,349	16,303
Deferred revenue	2,111	2,727
Warrant liabilities	12,202	21,680
Convertible debt and derivative liability (See Note 6)	0	12,159
Operating lease liability (See Note 7)	2,487	2,581
Total liabilities	44,149	55,450
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, authorized 5,000,000 shares as of March 31, 2024 and December 31, 2023; 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value, 150,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 37,779,796 and 37,207,799 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	41	40
Additional paid-in capital	428,900	428,169
Accumulated deficit	(354,836)	(355,247)
Total stockholders' equity	74,105	72,962
Total liabilities and stockholders’ equity	$ 118,254	$ 128,412

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	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)	37,779,796	37,207,799
Common stock, shares outstanding (in shares)	37,779,796	37,207,799

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Total revenue	$ 1,373	$ 1,130
Operating expenses:
Cost of product revenues	0	137
Research and development	7,212	6,835
Selling, general and administrative	3,669	4,840
Total operating expenses	10,881	11,812
Loss from operations	(9,508)	(10,682)
Other (income) expense:
Amortization of debt issuance costs and discount	401	255
Interest income	(1,280)	(587)
Interest expense	205	1,447
Warrant liabilities fair value adjustment	(9,608)	21,673
Derivative liabilities fair value adjustment	(168)	406
Total other (income) expense	(10,450)	23,194
Income (loss) before taxes	942	(33,876)
Income tax expense	(531)	0
Net income (loss)	$ 411	$ (33,876)
Net income (loss) per share attributable to common stockholders - basic
Net income (loss) per share - basic	$ 0.01	$ (0.71)
Net income (loss) per share attributable to common stockholders - diluted
Net income (loss) per share - diluted	$ 0.01	$ (0.71)
Weighted average common shares outstanding – basic and diluted
Basic	48,245,559	47,757,246
Diluted	48,565,051	47,757,246
Product Revenue, Net
Revenue:
Total revenue	$ 0	$ 1,130
License Agreement Revenue
Revenue:
Total revenue	$ 1,373	$ 0

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 411	$ (33,876)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	0	151
Stock-based compensation expense	705	707
Accretion of investment discount	(253)	(219)
Amortization of debt issuance costs and discount	401	255
Change in fair value of warrant liabilities	(9,608)	21,673
Change in fair value of derivative liabilities	(168)	406
Noncash operating lease expense for right-of-use asset	64	54
Write off of deferred asset for commitment fees	0	514
Changes in operating assets and liabilities:
Prepaid expenses, other assets, deferred costs, and other	3,966	778
License agreement receivable	2,463	0
License agreement contract asset	(103)	0
Accounts receivable	0	41
Inventory	0	(2,706)
Accounts payable	1,809	(12)
Accrued expenses	(2,893)	(853)
Deferred revenue	(722)	0
Other liabilities and other	(79)	(5,836)
Net cash used in operating activities	(4,007)	(18,923)
Cash flows from investing activities:
Purchase of investments	(2,510)	0
Maturity of investments	7,964	0
Net cash provided by investing activities	5,454	0
Cash flows from financing activities:
Payments of deferred offering costs	(40)	0
Proceeds from employee stock purchase plan issuances	25	4
Repurchase of shares to satisfy tax withholdings	0	18
Net cash (used in) provided by financing activities	(15)	22
Net increase (decrease) in cash, cash equivalents, and restricted cash	1,432	(18,901)
Cash, cash equivalents, and restricted cash at beginning of period	34,593	46,032
Cash, cash equivalents, and restricted cash at end of period	36,025	27,131
Supplemental cash flow information:
Cash paid for interest	420	1,658
Cash received for interest	$ 1,041	$ 373

Description of Business and Bas

Description of Business and Basis of Preparation	3 Months Ended
	Mar. 31, 2024
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, and 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. Following a 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. The patient-level and clinical product recall is ongoing 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. The Company had an accumulated deficit of $ 354.8 million at March 31, 2024. The Company's capital resources primarily comprised cash and cash equivalents and investments of $ 94.2 million at March 31, 2024. 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 unaudited condensed 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 License Agreement with GSK; 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 unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. The unaudited condensed 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 unaudited condensed 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. Unaudited Condensed Consolidated Financial Information The accompanying unaudited condensed consolidated financial statements and notes have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”), as contained in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification” or “ASC”) for interim financial information. In the opinion of management, the interim financial information includes all adjustments of a normal recurring nature necessary for a fair presentation of the results of operations, financial position, and cash flows. The results of operations for the three months ended March 31, 2024, are not necessarily indicative of the results for the full year or the results for any future periods. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes set forth in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 28, 2024.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements and notes follow the same significant accounting policies as those described in the notes to the audited consolidated financial statements of the Company for the year ended December 31, 2023, except as described below. 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 three months ended March 31, 2024 and 2023 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 three months ended March 31, 2024 includes the outstanding prefunded 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 prefunded warrants to purchase 11,303,667 and 3,200,000 shares of common stock issued in the April 2022 public offering and December 2020 public offering were included in the three months ended March 31, 2023, respectively. Diluted net income (loss) per common share for the three months ended March 31, 2024 and 2023 was determined as follows (in thousands, except share and per share amounts): Three Months Ended March 31, 2024 2023 Net income (loss) allocated to common shares $ 411 $ ( 33,876 ) Weighted average common shares outstanding – basic 48,245,559 47,757,246 Dilutive effect of restricted stock units 319,492 — Weighted average common shares outstanding – diluted 48,565,051 47,757,246 Net income (loss) per share – diluted $ 0.01 $ ( 0.71 ) The following potentially dilutive shares of com mon 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 three months ended March 31, 2024 and 2023, as the result would be anti-dilutive or the performance contingencies have not been met: Three Months Ended March 31, 2024 2023 Outstanding stock options 2,716,602 1,931,389 Outstanding restricted stock units 600,000 2,214,490 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 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Common stock associated with March 2019 Notes 1,138,200 1,138,200 Warrants to purchase common stock associated with Danforth 50,000 50,000 Total 26,503,613 27,332,890 Reclassification of Prior Year Amounts Certain prior year amounts within the changes in operating assets and liabilities on the unaudited condensed consolidated statement of cash flows have been reclassified for consistency with the current year presentation. Recently Adopted 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. The Company adopted ASU 2020-06 on January 1, 2024 and the adoption did no t materially impact the unaudited condensed consolidated financial statements. Recently Issued Accounting Pronouncements 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.

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	3. Investments The following table summarizes the investments at March 31, 2024 (in thousands): Amortized Unrealized Unrealized Fair Value As of March 31, 2024 Maturities < 1 Year Corporate bonds $ 42,248 $ 17 $ ( 34 ) $ 42,231 Agency bonds 2,514 — ( 2 ) 2,512 Total short-term investments $ 44,762 $ 17 $ ( 36 ) $ 44,743 Maturities > 1 Year Corporate bonds $ 13,943 $ 33 $ ( 17 ) $ 13,959 Total investments $ 13,943 $ 33 $ ( 17 ) $ 13,959 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 The Company carries investments at amortized cost. As of March 31, 2024 and December 31, 2023, the fair value of the corporate and agency bonds totals $ 58.7 million and $ 64.1 million, respectively, which 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 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	3 Months Ended
	Mar. 31, 2024
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): March 31, 2024 December 31, 2023 Prepaid research and development services $ 499 $ 196 Prepaid insurance 279 264 Other prepaid expenses 249 182 Other current assets 556 4,906 Total prepaid expenses and other current assets $ 1,583 $ 5,548

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): March 31, 2024 December 31, 2023 Accrued research and development expenses $ 2,016 $ 2,830 Accrued employee bonus compensation 453 1,692 Other accrued expenses 546 940 Accrued severance — 11 Accrued other rebates 32 89 Accrued product recall 1,554 1,933 Total accrued expenses $ 4,601 $ 7,495

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Borrowings	6. Borrowings Loan Agreement On May 13, 2021 (the “Closing Date”), the Company entered into the Loan and Security Agreement (the "Loan Agreement") with Hercules Capital, Inc. and Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank) (the "Lenders") 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. 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 6.0% Senior Convertible Notes due 2025 (“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 March 31, 2024 and December 31, 2023, the Company’s March 2019 Notes consist of the convertible debt balance of $ 12.4 million and $ 12.0 million and the bifurcated embedded conversion option derivative liability of $ 28,000 and $ 0.2 million, 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. The convertible debt and derivative liability associated with the March 2019 Notes are presented in total on the accompanying unaudited condensed consolidated balance sheets as the convertible debt and derivative liability. The derivative liability will be remeasured at each reporting period using the binomial lattice model with changes in fair value recorded in the statements of operations in other (income) expense. For the three months ended March 31, 2024 and 2023, the Company recognized a gain of $ 0.2 million and a loss of $ 0.4 million, respectively, on the fair value adjustment for the derivative liability. For the three months ended March 31, 2024 and 2023, the Company recognized $ 0.4 million and zero in amortization of debt issuance costs and discount related to the March 2019 Notes, respectively. 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 both March 31, 2024 and December 31, 2023, the fair value of the convertible debt and derivative liability for the March 2019 Notes is $ 12.7 million. 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. 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”). The Deferred Fees of $ 5.8 million as of December 31, 2022, classified as other liabilities on the consolidated balance sheet, were fully paid as of February 2023.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. 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 was reduced by fifty-five thousand dollars on the first anniversary of the commencement date. The security deposit will continue to be reduced by fifty-five thousand dollars every two years on the commencement date anniversary for eight years. The security deposit is classified as restricted cash in the accompanying unaudited condensed consolidated balance sheets. The following table summarizes certain quantitative information associated with the amounts recognized in the unaudited condensed consolidated financial statements for the Lease (dollars in thousands): Three Months Ended March 31, 2024 2023 Operating lease cost $ 166 $ 166 Variable lease cost ( 23 ) 58 Total operating lease expense $ 143 $ 224 Cash paid for amounts included in the measurement of operating lease liability $ 181 $ 177 March 31, 2024 December 31, 2023 Remaining Lease term (years) 5.34 5.59 Discount rate 15 % 15 % Future minimum lease payments for the Lease as of March 31, 2024 are as follows (in thousands): March 31, 2024 2024 $ 549 2025 744 2026 759 2027 774 2028 790 Thereafter 466 Total $ 4,082 The presentations of the operating lease liability as of March 31, 2024 are as follows (in thousands): March 31, 2024 Present value of future minimum lease payments $ 2,843 Operating lease liability, current portion $ 356 Operating lease liability, long-term portion 2,487 Total operating lease liability $ 2,843 Difference between future minimum lease payments and discounted cash flows $ 1,239 License Arrangement with Potential Future Expenditures As of March 31, 2024, 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 an NDA, triggered by the FDA acceptance for filing of the Company’s NDA for ibrexafungerp for the treatment of VVC, and first marketing approval in the U.S. 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. Legal Proceedings On November 7, 2023, a securities class action was filed by Brian Feldman against the Company and certain of the Company's executives in the United States District Court, District of New Jersey, alleging that, during the period from March 31, 2023 to September 22, 2023, the Company made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects, alleging specifically that the Company failed to disclose to investors: (1) that the equipment used to manufacture ibrexafungerp was also used to manufacture a non-antibacterial beta-lactam drug substance, presenting a risk of cross-contamination; (2) that the Company did not have effective internal controls and procedures, as well as adequate internal oversight policies to ensure that its vendor complied with current Good Manufacturing Practices (cGMP); (3) that, due to the substantial risk of cross-contamination, the Company were reasonably likely to recall its ibrexafungerp tablets and halt its clinical studies; and (4) as a result of the foregoing, the Company's statements about its business, operations, and prospects were materially misleading and/or lacked a reasonable basis. The complaint seeks unspecified damages, interest, fees and costs on behalf of all persons and entities who purchased and/or acquired shares of the Company's common stock between March 31, 2023 to September 22, 2023. On May 1, 2024, a purported shareholder derivative complaint was filed in the United States District Court, District of New Jersey. The complaint names the Company’s directors and certain of its officers and asserts state and federal claims based on the same alleged misstatements as the securities class action complaint. The Company disagrees with the allegations and intends to defend these litigations vigorously and the Company has not recognized any expense for these contingencies .

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	8. Stockholders’ Equity Authorized, Issued, and Outstanding Common Stock The Company’s authorized common stock has a par value of $ 0.001 per share and consists of 150,000,000 shares as of March 31, 2024, and December 31, 2023; 37,779,796 and 37,207,799 shares were issued and outstanding at March 31, 2024, and December 31, 2023, respectively. For the three months ended March 31, 2023, 363,000 of the prefunded warrants from the April 2022 public offering were exercised at $ 0.001 per share. The following table summarizes common stock share activity for the three months ended March 31, 2024 and 2023 (dollars in thousands): Three Months Ended March 31, 2024 Shares of Common Additional Accumulated Total Balance, December 31, 2023 37,207,799 $ 40 $ 428,169 $ ( 355,247 ) $ 72,962 Net income — — — 411 411 Stock-based compensation expense — — 705 — 705 Common stock issued through employee stock purchase plan 18,815 — 26 — 26 Common stock issued for vested restricted stock units 553,182 1 — — 1 Balance, March 31, 2024 37,779,796 $ 41 $ 428,900 $ ( 354,836 ) $ 74,105 Three Months Ended March 31, 2023 Shares of Common Additional Accumulated Total Balance, December 31, 2022 32,682,342 $ 36 $ 425,485 $ ( 422,288 ) $ 3,233 Net loss — — — ( 33,876 ) ( 33,876 ) Stock-based compensation expense — — 707 — 707 Common stock issued through employee stock purchase plan 2,662 — 4 — 4 Common stock issued, net of expenses 363,000 — — — — Common stock issued for vested restricted stock units 279,623 — 18 — 18 Balance, March 31, 2023 33,327,627 $ 36 $ 426,214 $ ( 456,164 ) $ ( 29,914 ) Shares Reserved for Future Issuance The Company had reserved shares of common stock for future issuance as follows: March 31, 2024 December 31, 2023 Outstanding stock options 2,716,602 1,867,795 Outstanding restricted stock units 3,202,012 1,886,374 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 7,516,267 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Warrant 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 9) — 848,202 For possible future issuance under employee stock purchase plan 1,458,171 1,474,045 For possible future issuance under 2015 Plan (Note 9) 637,050 633,590 Total common shares reserved for future issuance 41,917,113 40,613,284 Warrants Associated with the December 2020 and April 2022 Public Offerings The outstanding warrants associated with the December 2020 public offering contains 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 unaudited condensed 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. For the three months ended March 31, 2024 and 2023, the Company recognized a gain of $ 9.6 million and a loss of $ 21.7 million , respectively, on the warrant liabilities fair value adjustment. As of March 31, 2024 and December 31, 2023, the fair value of the warrant liabilities was $ 12.2 million and $ 21.8 million, respectively.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	9. Stock-based Compensation Pursuant to the terms of the Company’s 2014 Equity Incentive Plan (“2014 Plan”), on January 1, 2024 and 2023, the Company automatically added 1,916,962 and 1,901,960 shares to the total number shares of common stock available for future issuance under the 2014 Plan, respectively. As of March 31, 2024, there were zero shares of common stock available for future issuance under the 2014 Plan. 2015 Inducement Award Plan As of March 31, 2024, there were 637,050 shares of common stock available for future issuance under the Company’s 2015 Inducement Award Plan (“2015 Plan”). During both the three months ended March 31, 2024 and 2023, there were options to purchase zero shares of the Company’s common stock granted under the 2015 Plan. The activity for the Company’s 2014 Plan and 2015 Plan, for the three months ended March 31, 2024, is summarized as follows: Number of Weighted- Weighted- Aggregate Outstanding — December 31, 2023 1,867,795 $ 10.72 6.10 $ 184 Granted 862,060 $ 1.86 Forfeited/Cancelled ( 13,253 ) $ 7.84 Outstanding — March 31, 2024 2,716,602 $ 7.92 7.11 $ — Exercisable — March 31, 2024 1,389,304 $ 13.35 4.99 $ — Vested or expected to vest — March 31, 2024 2,716,602 $ 7.92 7.11 $ — Restricted stock unit (“RSU”) activity under the 2014 Plan and 2015 Plan for the three months ended March 31, 2024, is summarized as follows: Number of Weighted Non-vested at December 31, 2023 1,886,374 $ 2.28 Granted 1,877,940 $ 1.88 Vested ( 553,182 ) $ 3.03 Forfeited ( 9,120 ) $ 2.15 Non-vested at March 31, 2024 3,202,012 $ 1.91 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 33 % annually over a three-year period from the date of grant. Upon vesting, the RSUs generally 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. Compensation Cost The compensation cost that has been charged against income for stock awards under the 2014 Plan and the 2015 Plan was $ 0.7 million for each of the three months ended March 31, 2024 and 2023. The total income tax benefit recognized in the statements of operations for share-based compensation arrangements was zero for each of the three months ended March 31, 2024 and 2023. Stock-based compensation expense related to stock options is included in the following line items in the accompanying unaudited condensed consolidated statements of operations (in thousands): Three Months Ended March 31, 2024 2023 Research and development $ 195 $ 374 Selling, general and administrative 510 333 Total $ 705 $ 707

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value Measurements The carrying amounts of certain financial instruments, including cash and cash equivalents, restricted cash, investments, 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. This determination requires significant judgments to be made. The following table summarizes the conclusions reached as of March 31, 2024 and December 31, 2023 for financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Hierarchy Classification Balance Quoted Significant Significant March 31, 2024 Cash $ 854 $ 854 — — Restricted cash 543 543 — — Money market funds 34,628 34,628 — — Total assets $ 36,025 $ 36,025 — — Warrant liabilities $ 12,202 — — $ 12,202 Derivative liability 28 — — 28 Total liabilities $ 12,230 — — $ 12,230 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 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 March 31, 2024, the cash and cash equivalents of $ 35.5 million and the restricted cash balances of $ 0.4 million and $ 0.2 million within short and long term on the unaudited condensed consolidated balance sheet, respectively, sum to the total of $ 36.0 million as shown in the unaudited condensed consolidated 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 March 31, 2024, the range and weighted average of the Level 3 volatilities utilized in the Black-Scholes model to fair value the warrant liabilities were 66.0 % to 85.9 % and 85.9 %, respectively. 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, adjusted equity volatility, credit rating, market credit spread, and estimated effective yield. The unobservable inputs associated with the Level 3 derivative liabilities are adjusted equity volatility, market credit spread, and estimated yield. As of March 31, 2024, these inputs were 71.0 %, 1,202 basis points, and 17.1 %, 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 liabilities 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 – December 31, 2023 $ 21,810 Gain adjustment to fair value ( 9,608 ) Balance – March 31, 2024 $ 12,202 Derivative Liability Balance – December 31, 2023 $ 196 Gain adjustment to fair value ( 168 ) Balance – March 31, 2024 $ 28

Revenue

Revenue	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	11. Revenue Product Revenue, Net Net product revenue was zero and $ 1.1 million for the three months ended March 31, 2024 and 2023, 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. Revenue attributed to sales to three wholesalers comprised 46 %, 26 %, and 25 % of the Company’s gross revenue for the three months ended March 31, 2023. The following table summarizes activity in each of the Company’s product revenue provision and allowance categories as of March 31, 2024 and 2023 (in thousands): Discounts and Chargebacks (1) Product Returns (2) Rebates and Incentives (3) Product Recall (4) Total Balance as of December 31, 2023 $ — $ 36 $ 89 $ 1,932 $ 2,057 Provision related to current period revenue — — — — — Changes in estimate related to prior period revenue — — ( 26 ) — ( 26 ) Credit/payments — — ( 31 ) ( 379 ) ( 410 ) Balance as of March 31, 2024 $ — $ 36 $ 32 $ 1,553 $ 1,621 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 392 12 943 — 1,347 Changes in estimate related to prior period revenue — — — — — Credit/payments ( 324 ) ( 2 ) ( 699 ) — ( 1,025 ) Balance as of March 31, 2023 $ 323 $ 83 $ 1,457 $ — $ 1,863 (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 unaudited condensed 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 unaudited condensed 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 unaudited condensed 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 unaudited condensed consolidated balance sheet. License Agreement with GSK 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. 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. 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. The Company provided all necessary information to GSK for it to benefit from the license under the license term in 2023 when the Company transferred the license. As of March 31, 2024, the Company recognized a $ 19.5 million contract asset associated with the success-based milestones associated with the ongoing clinical studies of ibrexafungerp. The Company believes that the $ 19.5 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 March 31, 2024, including estimated variable consideration included in the transaction price and the remaining milestones continued to be constrained. The Company recognizes 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 three months ended March 31, 2024, the Company recognized $ 1.4 million of license agreement revenue. As of March 31, 2024, there is $ 1.1 million and $ 2.1 million of current and long-term deferred revenue, respectively, which is expected to be recognized by the end of 2025. License Agreement with Hansoh In February 2021, the Company entered into an Exclusive License and Collaboration Agreement (the “Hansoh 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. For the three months ended March 31, 2024 and 2023, there was no license agreement revenue recognized associated with the Hansoh Agreement given the variable consideration was fully constrained as of March 31, 2024 and 2023, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basic and Diluted Net (Loss) Income 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 three months ended March 31, 2024 and 2023 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 three months ended March 31, 2024 includes the outstanding prefunded 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 prefunded warrants to purchase 11,303,667 and 3,200,000 shares of common stock issued in the April 2022 public offering and December 2020 public offering were included in the three months ended March 31, 2023, respectively. Diluted net income (loss) per common share for the three months ended March 31, 2024 and 2023 was determined as follows (in thousands, except share and per share amounts): Three Months Ended March 31, 2024 2023 Net income (loss) allocated to common shares $ 411 $ ( 33,876 ) Weighted average common shares outstanding – basic 48,245,559 47,757,246 Dilutive effect of restricted stock units 319,492 — Weighted average common shares outstanding – diluted 48,565,051 47,757,246 Net income (loss) per share – diluted $ 0.01 $ ( 0.71 ) The following potentially dilutive shares of com mon 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 three months ended March 31, 2024 and 2023, as the result would be anti-dilutive or the performance contingencies have not been met: Three Months Ended March 31, 2024 2023 Outstanding stock options 2,716,602 1,931,389 Outstanding restricted stock units 600,000 2,214,490 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 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Common stock associated with March 2019 Notes 1,138,200 1,138,200 Warrants to purchase common stock associated with Danforth 50,000 50,000 Total 26,503,613 27,332,890
Reclassification of Prior Year Amounts	Reclassification of Prior Year Amounts Certain prior year amounts within the changes in operating assets and liabilities on the unaudited condensed consolidated statement of cash flows have been reclassified for consistency with the current year presentation.
Recently Issued Accounting Pronouncements	Recently Adopted 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. The Company adopted ASU 2020-06 on January 1, 2024 and the adoption did no t materially impact the unaudited condensed consolidated financial statements. Recently Issued Accounting Pronouncements 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)	3 Months Ended
	Mar. 31, 2024
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 three months ended March 31, 2024 and 2023 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 three months ended March 31, 2024 includes the outstanding prefunded 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 prefunded warrants to purchase 11,303,667 and 3,200,000 shares of common stock issued in the April 2022 public offering and December 2020 public offering were included in the three months ended March 31, 2023, respectively. Diluted net income (loss) per common share for the three months ended March 31, 2024 and 2023 was determined as follows (in thousands, except share and per share amounts): Three Months Ended March 31, 2024 2023 Net income (loss) allocated to common shares $ 411 $ ( 33,876 ) Weighted average common shares outstanding – basic 48,245,559 47,757,246 Dilutive effect of restricted stock units 319,492 — Weighted average common shares outstanding – diluted 48,565,051 47,757,246 Net income (loss) per share – diluted $ 0.01 $ ( 0.71 )
Summary of Antidilutive Securities Excluded from Computation of Weighted Average Common Stock and Outstanding Restricted Stock Units	The following potentially dilutive shares of com mon 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 three months ended March 31, 2024 and 2023, as the result would be anti-dilutive or the performance contingencies have not been met: Three Months Ended March 31, 2024 2023 Outstanding stock options 2,716,602 1,931,389 Outstanding restricted stock units 600,000 2,214,490 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 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Common stock associated with March 2019 Notes 1,138,200 1,138,200 Warrants to purchase common stock associated with Danforth 50,000 50,000 Total 26,503,613 27,332,890

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	The following table summarizes the investments at March 31, 2024 (in thousands): Amortized Unrealized Unrealized Fair Value As of March 31, 2024 Maturities < 1 Year Corporate bonds $ 42,248 $ 17 $ ( 34 ) $ 42,231 Agency bonds 2,514 — ( 2 ) 2,512 Total short-term investments $ 44,762 $ 17 $ ( 36 ) $ 44,743 Maturities > 1 Year Corporate bonds $ 13,943 $ 33 $ ( 17 ) $ 13,959 Total investments $ 13,943 $ 33 $ ( 17 ) $ 13,959 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

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2024
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): March 31, 2024 December 31, 2023 Prepaid research and development services $ 499 $ 196 Prepaid insurance 279 264 Other prepaid expenses 249 182 Other current assets 556 4,906 Total prepaid expenses and other current assets $ 1,583 $ 5,548

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 31, 2024 December 31, 2023 Accrued research and development expenses $ 2,016 $ 2,830 Accrued employee bonus compensation 453 1,692 Other accrued expenses 546 940 Accrued severance — 11 Accrued other rebates 32 89 Accrued product recall 1,554 1,933 Total accrued expenses $ 4,601 $ 7,495

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of Quantitative Information Associated with Amounts Recognized in Unaudited Condensed Consolidated Financial Statements for Lease	The following table summarizes certain quantitative information associated with the amounts recognized in the unaudited condensed consolidated financial statements for the Lease (dollars in thousands): Three Months Ended March 31, 2024 2023 Operating lease cost $ 166 $ 166 Variable lease cost ( 23 ) 58 Total operating lease expense $ 143 $ 224 Cash paid for amounts included in the measurement of operating lease liability $ 181 $ 177 March 31, 2024 December 31, 2023 Remaining Lease term (years) 5.34 5.59 Discount rate 15 % 15 %
Future Minimum Lease Payments	Future minimum lease payments for the Lease as of March 31, 2024 are as follows (in thousands): March 31, 2024 2024 $ 549 2025 744 2026 759 2027 774 2028 790 Thereafter 466 Total $ 4,082
Presentation of Operating Lease Liability	The presentations of the operating lease liability as of March 31, 2024 are as follows (in thousands): March 31, 2024 Present value of future minimum lease payments $ 2,843 Operating lease liability, current portion $ 356 Operating lease liability, long-term portion 2,487 Total operating lease liability $ 2,843 Difference between future minimum lease payments and discounted cash flows $ 1,239

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Summary of Common Stock Shares Activity	The following table summarizes common stock share activity for the three months ended March 31, 2024 and 2023 (dollars in thousands): Three Months Ended March 31, 2024 Shares of Common Additional Accumulated Total Balance, December 31, 2023 37,207,799 $ 40 $ 428,169 $ ( 355,247 ) $ 72,962 Net income — — — 411 411 Stock-based compensation expense — — 705 — 705 Common stock issued through employee stock purchase plan 18,815 — 26 — 26 Common stock issued for vested restricted stock units 553,182 1 — — 1 Balance, March 31, 2024 37,779,796 $ 41 $ 428,900 $ ( 354,836 ) $ 74,105 Three Months Ended March 31, 2023 Shares of Common Additional Accumulated Total Balance, December 31, 2022 32,682,342 $ 36 $ 425,485 $ ( 422,288 ) $ 3,233 Net loss — — — ( 33,876 ) ( 33,876 ) Stock-based compensation expense — — 707 — 707 Common stock issued through employee stock purchase plan 2,662 — 4 — 4 Common stock issued, net of expenses 363,000 — — — — Common stock issued for vested restricted stock units 279,623 — 18 — 18 Balance, March 31, 2023 33,327,627 $ 36 $ 426,214 $ ( 456,164 ) $ ( 29,914 )
Common Stock Reserved For Future Issuances	The Company had reserved shares of common stock for future issuance as follows: March 31, 2024 December 31, 2023 Outstanding stock options 2,716,602 1,867,795 Outstanding restricted stock units 3,202,012 1,886,374 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 7,516,267 Warrants to purchase common stock associated with Loan Agreement 198,811 198,811 Warrant 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 9) — 848,202 For possible future issuance under employee stock purchase plan 1,458,171 1,474,045 For possible future issuance under 2015 Plan (Note 9) 637,050 633,590 Total common shares reserved for future issuance 41,917,113 40,613,284

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock Option Activity	The activity for the Company’s 2014 Plan and 2015 Plan, for the three months ended March 31, 2024, is summarized as follows: Number of Weighted- Weighted- Aggregate Outstanding — December 31, 2023 1,867,795 $ 10.72 6.10 $ 184 Granted 862,060 $ 1.86 Forfeited/Cancelled ( 13,253 ) $ 7.84 Outstanding — March 31, 2024 2,716,602 $ 7.92 7.11 $ — Exercisable — March 31, 2024 1,389,304 $ 13.35 4.99 $ — Vested or expected to vest — March 31, 2024 2,716,602 $ 7.92 7.11 $ —
Schedule of Restricted Stock Units ("RSU") Activity	Restricted stock unit (“RSU”) activity under the 2014 Plan and 2015 Plan for the three months ended March 31, 2024, is summarized as follows: Number of Weighted Non-vested at December 31, 2023 1,886,374 $ 2.28 Granted 1,877,940 $ 1.88 Vested ( 553,182 ) $ 3.03 Forfeited ( 9,120 ) $ 2.15 Non-vested at March 31, 2024 3,202,012 $ 1.91
Stock-Based Compensation Expense Related to Stock Options	Stock-based compensation expense related to stock options is included in the following line items in the accompanying unaudited condensed consolidated statements of operations (in thousands): Three Months Ended March 31, 2024 2023 Research and development $ 195 $ 374 Selling, general and administrative 510 333 Total $ 705 $ 707

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Measured on a Recurring Basis	The following table summarizes the conclusions reached as of March 31, 2024 and December 31, 2023 for financial instruments measured at fair value on a recurring basis (in thousands): Fair Value Hierarchy Classification Balance Quoted Significant Significant March 31, 2024 Cash $ 854 $ 854 — — Restricted cash 543 543 — — Money market funds 34,628 34,628 — — Total assets $ 36,025 $ 36,025 — — Warrant liabilities $ 12,202 — — $ 12,202 Derivative liability 28 — — 28 Total liabilities $ 12,230 — — $ 12,230 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
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 – December 31, 2023 $ 21,810 Gain adjustment to fair value ( 9,608 ) Balance – March 31, 2024 $ 12,202 Derivative Liability Balance – December 31, 2023 $ 196 Gain adjustment to fair value ( 168 ) Balance – March 31, 2024 $ 28

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and 2023 (in thousands): Discounts and Chargebacks (1) Product Returns (2) Rebates and Incentives (3) Product Recall (4) Total Balance as of December 31, 2023 $ — $ 36 $ 89 $ 1,932 $ 2,057 Provision related to current period revenue — — — — — Changes in estimate related to prior period revenue — — ( 26 ) — ( 26 ) Credit/payments — — ( 31 ) ( 379 ) ( 410 ) Balance as of March 31, 2024 $ — $ 36 $ 32 $ 1,553 $ 1,621 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 392 12 943 — 1,347 Changes in estimate related to prior period revenue — — — — — Credit/payments ( 324 ) ( 2 ) ( 699 ) — ( 1,025 ) Balance as of March 31, 2023 $ 323 $ 83 $ 1,457 $ — $ 1,863 (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 unaudited condensed 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 unaudited condensed 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 unaudited condensed 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 unaudited condensed consolidated balance sheet.

Description of Business and B_2

Description of Business and Basis of Preparation - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (354,836)	$ (355,247)
Cash and cash equivalents and short-term investments	$ 94,200

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - shares	Mar. 31, 2024	Mar. 31, 2023
ASU 2020-06
Subsidiary Sale Of Stock [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2024
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 outstanding warrants issued to purchase common stock (in shares)	3,200,000	3,200,000
April 2022 Public Offering | Pre-funded Warrants
Subsidiary Sale Of Stock [Line Items]
Number of outstanding warrants issued to purchase common stock (in shares)	7,516,267	11,303,667

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Diluted Net (Loss) Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounting Policies [Abstract]
Net income (loss) allocated to common shares	$ 411	$ (33,876)
Weighted average common shares outstanding, basic	48,245,559	47,757,246
Dilutive effect of restricted stock units	319,492	0
Weighted average common shares outstanding, diluted	48,565,051	47,757,246
Net (loss) income per share - diluted	$ 0.01	$ (0.71)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Potentially Dilutive Shares (Detail) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	26,503,613	27,332,890
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	2,716,602	1,931,389
Outstanding restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	600,000	2,214,490
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
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
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 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	Mar. 31, 2024	Dec. 31, 2023
Maturities Less than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	$ 44,762	$ 40,312
Unrealized Gains	17	31
Unrealized Losses	(36)	(13)
Fair Value	44,743	40,330
Maturities Greater than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	13,943	23,594
Unrealized Gains	33	143
Unrealized Losses	(17)	(9)
Fair Value	13,959	23,728
Corporate bonds | Maturities Less than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	42,248	35,286
Unrealized Gains	17	25
Unrealized Losses	(34)	(13)
Fair Value	42,231	35,298
Corporate bonds | Maturities Greater than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	13,943	23,594
Unrealized Gains	33	143
Unrealized Losses	(17)	(9)
Fair Value	13,959	23,728
Agency bonds | Maturities Less than 1 Year
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	2,514	5,026
Unrealized Gains	0	6
Unrealized Losses	(2)	0
Fair Value	$ 2,512	$ 5,032

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Corporate and Agency Bonds | Level 2
Schedule of Held-to-Maturity Securities [Line Items]
Fair Value	$ 58.7	$ 64.1

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid research and development services	$ 499	$ 196
Prepaid insurance	279	264
Other prepaid expenses	249	182
Other current assets	556	4,906
Total prepaid expenses and other current assets	$ 1,583	$ 5,548

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued research and development expenses	$ 2,016	$ 2,830
Accrued employee bonus compensation	453	1,692
Other accrued expenses	546	940
Accrued severance	0	11
Accrued other rebates	32	89
Accrued product recall	1,554	1,933
Total accrued expenses	$ 4,601	$ 7,495

Borrowings - Additional Informa

Borrowings - Additional Information (Detail)			1 Months Ended	3 Months Ended
	May 13, 2021 USD ($) Tranche	Mar. 07, 2019 USD ($)	Feb. 28, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Mar. 30, 2023 USD ($)	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Amortization of debt issuance costs and discount				$ 401,000	$ 255,000
Deferred fees, fully paid			$ 5,800,000
Other Liabilities
Debt Instrument [Line Items]
Interest rate, deferred fees								12.75%	12.75%
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]
Outstanding principal plus all accrued and unpaid interest amount payable to lenders							$ 35,400,000
Term Loan | Loan and Security Agreement | Hercules Capital Inc. and Silicon Valley Bank
Debt Instrument [Line Items]
Face amount	$ 60,000,000
Number of available tranches | Tranche	4
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
Senior convertible notes				12,400,000		$ 12,000,000
Bifurcated embedded conversion option derivative liability				28,000		200,000
Derivative, fair value				7,000,000
Gain (loss) on fair value adjustment of derivative liability				200,000	(400,000)
Amortization of debt issuance costs and discount				400,000	$ 0
Fair value of convertible debt and derivative liability				$ 12,700,000		$ 12,700,000
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.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)		3 Months Ended
	Mar. 01, 2018 USD ($) ft²	Mar. 31, 2024 USD ($)	Mar. 31, 2023 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	$ 181,000	$ 177,000
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 was reduced by fifty-five thousand dollars on the first anniversary of the commencement date. The security deposit will continue to be reduced by fifty-five thousand dollars every two years on the commencement date anniversary for eight years.
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 Unaudited Condensed Consolidated Financial Statements for Lease (Detail) - USD ($) $ in Thousands		3 Months Ended
	Mar. 01, 2018	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost		$ 166	$ 166
Variable lease cost		(23)	58
Total operating lease expense		143	224
Cash paid for amounts included in the measurement of operating lease liability	$ 7,300	$ 181	$ 177
Remaining Lease term (years)		5 years 4 months 2 days		5 years 7 months 2 days
Discount rate		15%		15%

Commitments and Contingencies_3

Commitments and Contingencies - Future Minimum Lease Payments (Detail) $ in Thousands	Mar. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 549
2025	744
2026	759
2027	774
2028	790
Thereafter	466
Total	$ 4,082

Commitments and Contingencies_4

Commitments and Contingencies - Presentation of Operating Lease Liability (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Present value of future minimum lease payments	$ 2,843
Operating lease liability, current portion	356	$ 340
Operating lease liability, long-term portion	2,487	$ 2,581
Total operating lease liability	2,843
Difference between future minimum lease payments and discounted cash flows	$ 1,239

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2022	Dec. 31, 2023
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)	37,779,796			37,207,799
Common stock, shares outstanding (in shares)	37,779,796			37,207,799
Warrant liabilities fair value adjustment	$ (9,608)	$ 21,673	$ 21,700
Warrant liabilities	$ 12,200			$ 21,800
April 2022 Public Offering | Pre-funded Warrants
Schedule Of Capitalization Equity [Line Items]
Common stock issued, net of expenses (in shares)		363,000
Public offering price		$ 0.001

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Common Stock Shares Activity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Common Stock Outstanding Roll Forward [Roll Forward]
Beginning balance	$ 72,962	$ 3,233
Beginning balance (in shares)	37,207,799
Net income (loss)	$ 411	(33,876)
Stock-based compensation expense	705	707
Common stock issued through employee stock purchase plan	26	4
Common stock issued, net of expenses		0
Common stock issued for vested restricted stock units	1	18
Ending balance	$ 74,105	(29,914)
Ending balance (in shares)	37,779,796
Common Stock
Common Stock Outstanding Roll Forward [Roll Forward]
Beginning balance	$ 40	$ 36
Beginning balance (in shares)	37,207,799	32,682,342
Net income (loss)	$ 0	$ 0
Stock-based compensation expense	0	0
Common stock issued through employee stock purchase plan	$ 0	$ 0
Common stock issued through employee stock purchase (in shares)	18,815	2,662
Common stock issued, net of expenses		$ 0
Common stock issued, net of expenses (in shares)		363,000
Common stock issued for vested restricted stock units	$ 1	$ 0
Common stock issued for vested restricted stock units (in shares)	553,182	279,623
Ending balance	$ 41	$ 36
Ending balance (in shares)	37,779,796	33,327,627
Additional Paid-in Capital
Common Stock Outstanding Roll Forward [Roll Forward]
Beginning balance	$ 428,169	$ 425,485
Net income (loss)	0	0
Stock-based compensation expense	705	707
Common stock issued through employee stock purchase plan	26	4
Common stock issued, net of expenses		0
Common stock issued for vested restricted stock units	0	18
Ending balance	428,900	426,214
Accumulated Deficit
Common Stock Outstanding Roll Forward [Roll Forward]
Beginning balance	(355,247)	(422,288)
Net income (loss)	411	(33,876)
Stock-based compensation expense	0	0
Common stock issued through employee stock purchase plan	0	0
Common stock issued, net of expenses		0
Common stock issued for vested restricted stock units	0	0
Ending balance	$ (354,836)	$ (456,164)

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Reserved Shares of Common Stock for Future Issuance (Detail) - shares	Mar. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Common shares reserved for future issuance	41,917,113	40,613,284
Stock options
Class of Stock [Line Items]
Common shares reserved for future issuance	2,716,602	1,867,795
Restricted Stock Units
Class of Stock [Line Items]
Common shares reserved for future issuance	3,202,012	1,886,374
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 | Prefunded Warrants to Purchase Common Stock Associated with December 2020 Public Offering
Class of Stock [Line Items]
Common shares reserved for future issuance	3,200,000	3,200,000
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 | April 2022 Public Offering
Class of Stock [Line Items]
Common shares reserved for future issuance	7,516,267	7,516,267
Warrant | Warrant to purchase common stock associated with Danforth
Class of Stock [Line Items]
Common shares reserved for future issuance	50,000	50,000
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
March 2019 Notes
Class of Stock [Line Items]
Common shares reserved for future issuance	1,138,200	1,138,200
2014 Employee Stock Purchase Plan
Class of Stock [Line Items]
Common shares reserved for future issuance	1,458,171	1,474,045
2014 Plan
Class of Stock [Line Items]
Common shares reserved for future issuance	0	848,202
2015 Plan
Class of Stock [Line Items]
Common shares reserved for future issuance	637,050	633,590

Stock-based Compensation - 2014

Stock-based Compensation - 2014 Equity Incentive Plan (Detail) - 2014 Equity Incentive Plan - shares	Jan. 01, 2024	Jan. 01, 2023	Mar. 31, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of additional shares authorized	1,916,962	1,901,960
Possible future issuance under equity compensation plan (in shares)			0

Stock-based Compensation - 2015

Stock-based Compensation - 2015 Inducement Award Plan (Detail) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option to purchase (shares)	862,060
2015 Inducement Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Possible future issuance under equity compensation plan (in shares)	637,050
Option to purchase (shares)	0	0

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Number of Shares
Beginning balance - Outstanding (shares)	1,867,795
Granted (shares)	862,060
Forfeited/Cancelled (shares)	(13,253)
Ending balance - Outstanding (shares)	2,716,602	1,867,795
Exercisable (shares)	1,389,304
Vested or expected to vest (shares)	2,716,602
Weighted- Average Exercise Price
Beginning balance - Outstanding (in dollars per share)	$ 10.72
Granted (in dollars per share)	1.86
Forfeited/Cancelled (in dollars per share)	7.84
Ending balance - Outstanding (in dollars per share)	7.92	$ 10.72
Exercisable (in dollars per share)	13.35
Vested or expected to vest (in dollars per share)	$ 7.92
Weighted- Average Remaining Contractual Life (in years)
Balance - Outstanding	7 years 1 month 9 days	6 years 1 month 6 days
Exercisable	4 years 11 months 26 days
Vested or expected to vest	7 years 1 month 9 days
Aggregate Intrinsic Value ($000)
Balance - Outstanding	$ 0	$ 184
Exercisable	0
Vested and expected to vest	$ 0

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Restricted Stock Units ("RSU") Activity (Detail) - Outstanding restricted stock units	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Number of Shares
Beginning balance - Outstanding (shares) | shares	1,886,374
Options granted in period (shares) | shares	1,877,940
Vested (shares) | shares	(553,182)
Forfeited (shares) | shares	(9,120)
Ending balance - Outstanding (shares) | shares	3,202,012
Weighted Average Grant Date Fair Value Per Share
Beginning balance - Outstanding (in dollars per share) | $ / shares	$ 2.28
Granted (in dollars per share) | $ / shares	1.88
Vested (in dollars per share) | $ / shares	3.03
Forfeited (in dollars per share) | $ / shares	2.15
Ending balance - Outstanding (in dollars per share) | $ / shares	$ 1.91
Vesting percentage	33%
Vesting period of options	3 years

Stock-based Compensation - Comp

Stock-based Compensation - Compensation Cost (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 705,000	$ 707,000
Tax benefit from compensation expense	$ 0	$ 0

Stock-based Compensation - St_2

Stock-based Compensation - Stock-Based Compensation Expense Related to Stock Options (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 705	$ 707
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	195	374
Selling, general and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 510	$ 333

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Instruments Measured on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	$ 36,025	$ 34,593
Fair value of financial liabilities	12,230	22,006
Warrant liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	12,202	21,810
Derivative liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	28	196
Cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	854	767
Restricted cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	543	543
Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	34,628	33,283
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	36,025	34,593
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 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) | Cash
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	854	767
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	543
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	34,628	33,283
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 liabilities
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	12,230	22,006
Significant Unobservable Inputs (Level 3) | Warrant liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	12,202	21,810
Significant Unobservable Inputs (Level 3) | Derivative liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial liabilities	28	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	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value, Measurements, Recurring
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of financial assets	$ 36,025	$ 34,593
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	35,500
Short term restricted cash balance	400
Long term restricted cash balance	200
Fair value of financial assets	$ 36,025	34,593
Significant Unobservable Inputs (Level 3) | Stock Price Volatility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative liabilities, unobservable inputs rate	71
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	66
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	85.9
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	85.9
Significant Unobservable Inputs (Level 3) | Market Credit Spread
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative liabilities, unobservable inputs rate	1,202
Significant Unobservable Inputs (Level 3) | Estimated Yield
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative liabilities, unobservable inputs rate	17.1
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

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	3 Months Ended
	Mar. 31, 2024 USD ($)
Warrant liabilities
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 21,810
Gain adjustment to fair value	(9,608)
Ending balance	12,202
Derivative liabilities
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	196
Gain adjustment to fair value	(168)
Ending balance	$ 28

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($)			1 Months Ended	3 Months Ended
	Dec. 26, 2023	Mar. 30, 2023	Jun. 30, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Net product revenue				$ 1,373,000	$ 1,130,000
License agreement receivable				0		$ 2,463,000
Deferred revenue, current portion				1,083,000		1,189,000
Deferred revenue, long term				2,111,000		$ 2,727,000
Product Revenue, Net
Disaggregation Of Revenue [Line Items]
Net product revenue				0	1,130,000
GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
License agreement contract asset				19,500,000
License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Development milestones recevied			$ 25,000,000
License Agreement | GlaxoSmithKline Intellectual Property | License Transfer
Disaggregation Of Revenue [Line Items]
Revenue recognized				1,400,000
Exclusive License And Collaboration Agreement
Disaggregation Of Revenue [Line Items]
Revenue recognized				$ 0	$ 0
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 | 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 | 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
Successful Completion of Mario Study | License Agreement | GlaxoSmithKline Intellectual Property
Disaggregation Of Revenue [Line Items]
Development milestones recevied	7,350,000
Completion FURI, CARES, and NATURE Clinical Studies | License Agreement
Disaggregation Of Revenue [Line Items]
Development milestones recevied	10,000,000
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					46%
Sales Revenue Net | Customer Concentration Risk | Wholesaler Two
Disaggregation Of Revenue [Line Items]
Percentage of gross revenue					26%
Sales Revenue Net | Customer Concentration Risk | Wholesaler Three
Disaggregation Of Revenue [Line Items]
Percentage of gross revenue					25%

Revenue - Summary of Activity i

Revenue - Summary of Activity in Each of Product Revenue Provision and Allowance Categories (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Balance	$ 2,057	$ 1,541
Provision related to current period revenue	0	1,347
Changes in estimate related to prior period revenue	(26)	0
Credit/payments	(410)	(1,025)
Balance	1,621	1,863
Discounts and Chargebacks
Disaggregation Of Revenue [Line Items]
Balance	0	255
Provision related to current period revenue	0	392
Changes in estimate related to prior period revenue	0	0
Credit/payments	0	(324)
Balance	0	323
Product Returns
Disaggregation Of Revenue [Line Items]
Balance	36	73
Provision related to current period revenue	0	12
Changes in estimate related to prior period revenue	0	0
Credit/payments	0	(2)
Balance	36	83
Rebates and Incentives
Disaggregation Of Revenue [Line Items]
Balance	89	1,213
Provision related to current period revenue	0	943
Changes in estimate related to prior period revenue	(26)	0
Credit/payments	(31)	(699)
Balance	32	1,457
Product Recall
Disaggregation Of Revenue [Line Items]
Balance	1,932	0
Provision related to current period revenue	0	0
Changes in estimate related to prior period revenue	0	0
Credit/payments	(379)	0
Balance	$ 1,553	$ 0