EyePoint Pharmaceuticals (EYPT) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Registrant Name	EyePoint Pharmaceuticals, Inc.
Entity Central Index Key	0001314102
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	EYPT
Entity Common Stock, Shares Outstanding		28,770,033
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity File Number	000-51122
Entity Tax Identification Number	26-2774444
Entity Address, Address Line One	480 Pleasant Street
Entity Address, City or Town	Watertown
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02472
City Area Code	(617)
Local Phone Number	926-5000
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common Stock, par value $0.001
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 127,630	$ 44,909
Accounts and other receivables, net	15,111	9,453
Prepaid expenses and other current assets	3,704	3,419
Inventory	5,381	5,337
Total current assets	151,826	63,118
Property and equipment, net	515	630
Operating lease right-of-use assets	2,353	2,610
Intangible assets, net	23,979	25,209
Restricted cash	150	150
Total assets	178,823	91,717
Current liabilities:
Accounts payable	5,421	4,811
Accrued expenses	9,114	8,445
Deferred revenue	1,008	945
Other current liabilities	707	687
Total current liabilities	16,250	14,888
Long-term debt	36,235	37,977
Deferred revenue - noncurrent	15,132	15,616
Operating lease liabilities - noncurrent	2,013	2,330
Other long-term liabilities	2,328	2,365
Total liabilities	71,958	73,176
Contingencies (Note 13)
Stockholders' equity:
Preferred stock, $.001 par value, 5,000,000 shares authorized, no shares issued and outstanding
Common stock, $.001 par value, 300,000,000 shares authorized at June 30, 2021 and December 31, 2020; 28,754,192 and 18,139,981 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	29	18
Additional paid-in capital	638,965	528,362
Accumulated deficit	(532,970)	(510,680)
Accumulated other comprehensive income	841	841
Total stockholders' equity	106,865	18,541
Total liabilities and stockholders' equity	$ 178,823	$ 91,717

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	28,754,192	18,139,981
Common stock, shares outstanding	28,754,192	18,139,981

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Total revenues	$ 9,013	$ 4,122	$ 16,336	$ 11,611
Operating expenses:
Cost of sales, excluding amortization of acquired intangible assets	1,929	502	3,319	1,482
Research and development	5,605	3,276	11,084	8,129
Sales and marketing	6,659	6,089	12,318	14,214
General and administrative	5,184	4,792	10,299	9,152
Amortization of acquired intangible assets	615	615	1,230	1,230
Total operating expenses	19,992	15,274	38,250	34,207
Loss from operations	(10,979)	(11,152)	(21,914)	(22,596)
Other income (expense):
Interest and other income, net	280	8	281	62
Interest expense	(1,376)	(1,806)	(2,722)	(3,590)
Gain on extinguishment of debt	2,065	0	2,065	0
Total other income (expense), net	969	(1,798)	(376)	(3,528)
Net loss	$ (10,010)	$ (12,950)	$ (22,290)	$ (26,124)
Net loss per share - basic and diluted	$ (0.35)	$ (1.04)	$ (0.83)	$ (2.17)
Weighted average shares outstanding - basic and diluted	28,744	12,477	26,750	12,015
Net loss	$ (10,010)	$ (12,950)	$ (22,290)	$ (26,124)
Comprehensive loss	(10,010)	(12,950)	(22,290)	(26,124)
Product [Member]
Revenues:
Total revenues	8,738	3,706	15,540	8,393
License and Collaboration Agreement [Member]
Revenues:
Total revenues	94	35	435	2,055
Royalty Income [Member]
Revenues:
Total revenues	$ 181	$ 381	$ 361	$ 1,163

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income [Member]
Balance at Dec. 31, 2019	$ 8,330	$ 11	$ 472,765	$ (465,286)	$ 840
Balance, shares at Dec. 31, 2019		10,941,659
Net loss	(26,124)			(26,124)
Issuance of stock, net of issue costs	19,990	$ 15	19,975
Issuance of stock, net of issue costs, shares		1,500,000
Employee stock purchase plan	187	$ 1	186
Employee stock purchase plan, shares		16,166
Vesting of stock units	(90)		(90)
Vesting of stock units, shares		61,888
Stock-based compensation	1,895		1,895
Balance at Jun. 30, 2020	4,188	$ 27	494,731	(491,410)	840
Balance, shares at Jun. 30, 2020		12,519,713
Balance at Mar. 31, 2020	16,474	$ 27	494,067	(478,460)	840
Balance, shares at Mar. 31, 2020		12,474,110
Net loss	(12,950)			(12,950)
Vesting of stock units	(71)		(71)
Vesting of stock units, shares		45,603
Stock-based compensation	735		735
Balance at Jun. 30, 2020	4,188	$ 27	494,731	(491,410)	840
Balance, shares at Jun. 30, 2020		12,519,713
Balance at Dec. 31, 2020	$ 18,541	$ 18	528,362	(510,680)	841
Balance, shares at Dec. 31, 2020	18,139,981	18,139,981
Net loss	$ (22,290)			(22,290)
Issuance of stock, net of issue costs	108,403	$ 11	108,392
Issuance of stock, net of issue costs, shares		10,513,538
Employee stock purchase plan	173		173
Employee stock purchase plan, shares		27,713
Exercise of stock options	10		10
Exercise of stock options, shares		827
Vesting of stock units	(140)		(140)
Vesting of stock units, shares		72,133
Stock-based compensation	2,168		2,168
Balance at Jun. 30, 2021	$ 106,865	$ 29	638,965	(532,970)	841
Balance, shares at Jun. 30, 2021	28,754,192	28,754,192
Balance at Mar. 31, 2021	$ 115,707	$ 29	637,797	(522,960)	841
Balance, shares at Mar. 31, 2021		28,741,475
Net loss	(10,010)			(10,010)
Vesting of stock units	(12)		(12)
Vesting of stock units, shares		12,717
Stock-based compensation	1,180		1,180
Balance at Jun. 30, 2021	$ 106,865	$ 29	$ 638,965	$ (532,970)	$ 841
Balance, shares at Jun. 30, 2021	28,754,192	28,754,192

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Cash flows from operating activities:
Net loss			$ (22,290)	$ (26,124)
Adjustments to reconcile net loss to cash flows used in operating activities:
Amortization of intangible assets	$ 615	$ 615	1,230	1,230
Depreciation of property and equipment			142	88
Amortization of debt discount			300	348
Non-cash interest expense			0	647
Gain on extinguishment of debt	(2,065)	0	(2,065)	0
Stock-based compensation			2,168	1,895
Changes in operating assets and liabilities:
Accounts receivable and other current assets			(5,943)	4,472
Inventory			(43)	(1,635)
Accounts payable and accrued expenses			1,354	(2,342)
Right-of-use assets and operating lease liabilities			(74)	(30)
Deferred revenue			(421)	(15)
Net cash used in operating activities			(25,642)	(21,466)
Cash flows from investing activities:
Purchases of property and equipment			(25)	(42)
Net cash used in investing activities			(25)	(42)
Cash flows from financing activities:
Proceeds from issuance of stock, net of issuance costs			108,403	19,990
Proceeds under paycheck protection program loan			0	2,041
Net settlement of stock units to satisfy statutory tax withholding			(140)	(90)
Proceeds from exercise of stock options			183	187
Principal payments on finance lease obligations	(29)	(12)	(58)	(20)
Net cash provided by financing activities			108,388	22,108
Net increase (decrease) in cash, cash equivalents and restricted cash			82,721	600
Cash, cash equivalents and restricted cash at beginning of year			45,059	22,364	$ 22,364
Cash, cash equivalents and restricted cash at end of year	$ 127,780	$ 22,964	127,780	22,964	$ 45,059
Supplemental cash flow information:
Cash interest paid			2,403	1,299
Supplemental disclosure of non-cash investing and financing activities:
Stock issuance costs			65	0
Payments forgiven under paycheck protection program loan			$ 2,041	$ 0

Operations

Operations	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Operations	1. The accompanying condensed consolidated financial statements of EyePoint Pharmaceuticals, Inc., a Delaware corporation as of June 30, 2021 and for the three and six months ended June 30, 2021 and 2020 are unaudited. Certain information in the footnote disclosures of these financial statements has been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. In the opinion of management, these statements have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended December 31, 2020, and include all adjustments, consisting only of normal recurring adjustments, that are necessary for the fair presentation of the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods indicated. The preparation of financial statements in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires management to make assumptions and estimates that affect, among other things, (i) reported amounts of assets and liabilities; (ii) disclosure of contingent assets and liabilities at the date of the consolidated financial statements; and (iii) reported amounts of revenues and expenses during the reporting period. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the entire fiscal year or any future period. ® ® ® ® . Local drug delivery for treating ocular diseases is a significant challenge due to the effectiveness of the blood-eye barrier. This barrier makes it difficult for systemically-administered drugs to reach the eye in sufficient quantities to have a beneficial effect without causing unacceptable adverse side effects to other organs. The Company’s validated Durasert technology, which has already been included in four products approved for marketing by the U.S. Food and Drug Administration (“FDA”), is designed to provide consistent, sustained delivery of small molecule drugs over a period of months to years through a single intravitreal injection. The Company’s lead product candidate, EYP-1901, combines a bioerodible formulation of its proprietary Durasert sustained-release technology with vorolanib, a tyrosine kinase inhibitor (“TKI”). The Company is currently evaluating EYP-1901 in a Phase 1 clinical trial as a potential twice-yearly sustained delivery intravitreal treatment for wet AMD. Current approved treatments for wet AMD require monthly or bi-monthly eye injections in a physician’s office, which can cause inconvenience and discomfort and often lead to reduced compliance and poor outcomes. On May 25, 2021, the Company announced the completion of the enrollment of the Phase 1 DAVIO clinical trial of EYP-1901 and expects initial data from trial in the fourth quarter of 2021. The Company is also developing YUTIQ 50 as a potential twice-yearly intravitreal treatment for chronic non-infectious uveitis affecting the posterior segment of the eye. The Company has consulted with the FDA and identified a clinical pathway for a supplemental new drug application (“sNDA”) filing that the Company expects will involve a clinical trial of a small population. The Company expects to initiate the Phase 3 clinical trial for YUTIQ 50 by the end of this year. The Company also has two commercial products, YUTIQ ® ® YUTIQ ® is the third leading cause of blindness. YUTIQ utilizes the Company’s proprietary Durasert ® sustained-release drug delivery technology platform. DEXYCU ® ® The Company is also seeking to enhance its long-term growth potential by expanding EYP-1901 beyond wet AMD into diabetic retinopathy (“DR”) and retinal vein occlusion (“RVO”), both large and growing ocular disease areas. The Company also expects to potentially identify and advance additional product pipeline candidates through clinical and regulatory development. This may be accomplished through internal discovery efforts, potential research collaborations and/or in-licensing arrangements with partner molecules and potential acquisitions of additional ophthalmic products, product candidates or technologies that complement the Company’s current product portfolio. Effects of the COVID-19 Coronavirus Pandemic The ongoing COVID-19 coronavirus pandemic (the “Pandemic”) Uncertainty around the extent and duration of the Pandemic, and any future related financial impact cannot be reasonably estimated at this time. Liquidity The Company had cash and cash equivalents of $127.6 T . at least the next twelve months from the date these consolidated financial statements were issued. A the timing and results of the Company’s clinical trials for EYP-1901, investments commercialization Recently Adopted and Recently Issued Accounting Pronouncements New accounting pronouncements are issued periodically by the Financial Accounting Standards Board (“FASB”) and are adopted by the Company as of the specified effective dates. Unless otherwise disclosed below, the Company believes that recently issued and adopted pronouncements will not have a material impact on the Company’s financial position, results of operations and cash flows or do not apply to the Company’s operations. In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt— Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) : Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, Revenue from Contracts with Customers (“ASC 606”), the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract, determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. Product sales, net — The Company sells YUTIQ and DEXYCU to a limited number of specialty distributors and specialty pharmacies (collectively the “Distributors”) in the U.S., with whom the Company has entered into formal agreements, for delivery to physician practices for YUTIQ and to hospital outpatient departments and ambulatory surgical centers for DEXYCU. The Company recognizes revenue on sales of its products when Distributors obtain control of the products, which occurs at a point in time, typically upon delivery. In addition to agreements with Distributors, the Company also enters into arrangements with healthcare providers, ambulatory surgical centers, and payors that provide for government mandated and/or privately negotiated rebates, chargebacks, and discounts with respect to the purchase of the Company’s products from Distributors. Reserves for variable consideration — Product sales are recorded at the wholesale acquisition costs, net of applicable reserves for variable consideration. Components of variable consideration include trade discounts and allowances, provider chargebacks and discounts, payor rebates, product returns, and other allowances that are offered within contracts between the Company and its Distributors, payors, and other contracted purchasers relating to the Company’s product sales. These reserves, as detailed below, are based on the amounts earned, or to be claimed on the related sales, and are classified either as reductions of product revenue and accounts receivable or a current liability, depending on how the amount is to be settled. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the respective underlying contracts. Actual amounts of consideration ultimately received may differ from the Company’s estimates. If actual results in the future vary from the estimates, the Company adjusts these estimates, which would affect product revenue and earnings in the period such variances become known. Distribution fees — The Company compensates its Distributors for services explicitly stated in the Company’s contracts and are recorded as a reduction of revenue in the period the related product sale is recognized. Provider chargebacks and discounts — Chargebacks are discounts that represent the estimated obligations resulting from contractual commitments to sell products at prices lower than the list prices charged to the Company’s Distributors. These Distributors charge the Company for the difference between what they pay for the product and the Company’s contracted selling price. These reserves are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability . Reserves for chargebacks consist of amounts that the Company expects to pay for units that remain in the distribution channel inventories at each reporting period-end that the Company expects will be sold under a contracted selling price, and chargebacks that Distributors have claimed, but for which the Company has not yet settled. Government rebates — The Company is subject to discount obligations under state Medicaid programs and Medicare. These reserves are recorded in the same period the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability which is included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. The Company’s liability for these rebates consists of invoices received for claims from prior quarters that have not been paid or for which an invoice has not yet been received, estimates of claims for the current quarter, and estimated future claims that will be made for product that has been recognized as revenue, but which remains in the distribution channel inventories at the end of each reporting period. Payor rebates — The Company contracts with certain private payor organizations, primarily insurance companies, for the payment of rebates with respect to utilization of its products. The Company estimates these rebates and records such estimates in the same period the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability. Co-Payment assistance — The Company offers co-payment assistance to commercially insured patients meeting certain eligibility requirements. The calculation of the accrual for co-pay assistance is based on an estimate of claims and the cost per claim that the Company expects to receive associated with product that has been recognized as revenue. Product returns — The Company generally offers a limited right of return based on its returned goods policy, which includes damaged product and remaining shelf life. The Company estimates the amount of its product sales that may be returned and records this estimate as a reduction of revenue in the period the related product revenue is recognized, as well as reductions to trade receivables, net on the condensed consolidated balance sheets. License and collaboration agreement revenue — The Company analyzes each element of its license and collaboration arrangements to determine the appropriate revenue recognition. The terms of the license agreement may include payment to the Company of non-refundable up-front license fees, milestone payments if specified objectives are achieved, and/or royalties on product sales. The Company recognizes revenue from upfront payments at a point in time, typically upon fulfilling the delivery of the associated intellectual property to the customer. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes sales-based milestone payments as revenue upon the achievement of the cumulative sales amount specified in the contract in accordance with ASC 606-10-55-65. For those milestone payments which are contingent on the occurrence of particular future events, the Company determines that these need to be considered for inclusion in the calculation of total consideration from the contract as a component of variable consideration using the most-likely amount method. As such, the Company assesses each milestone to determine the probability and substance behind achieving each milestone. Given the inherent uncertainty associated with these future events, the Company will not recognize revenue from such milestones until there is a high probability of occurrence, which typically occurs near or upon achievement of the event. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2021. Royalties — The Company recognizes revenue from license arrangements with its commercial partners’ net sales of products. Such revenues are included as royalty income. In accordance with ASC 606-10-55-65, royalties are recognized when the subsequent sale of the commercial partner’s products occurs. The Company’s commercial partners are obligated to report their net product sales and the resulting royalty due to the Company typically within 60 days from the end of each quarter. Based on historical product sales, royalty receipts and other relevant information, the Company recognizes royalty income each quarter and subsequently determines a true-up when it receives royalty reports and payment from its commercial partners. Historically, these true-up adjustments have been immaterial. Sale of Future Royalties — The Company has sold its rights to receive certain royalties on product sales. In the circumstance where the Company has sold its rights to future royalties under a royalty purchase agreement and also maintains limited continuing involvement in the arrangement (but not significant continuing involvement in the generation of the cash flows that are due to the purchaser), the Company defers recognition of the proceeds it receives for the sale of royalty streams and recognizes such unearned revenue as revenue under the units-of-revenue method over the life of the underlying license agreement. Under the units-of-revenue method, amortization for a reporting period is calculated by computing a ratio of the proceeds received from the purchaser to the total payments expected to be made to the purchaser over the term of the agreement, and then applying that ratio to the period’s cash payment. Estimating the total payments expected to be received by the purchaser over the term of such arrangements requires management to use subjective estimates and assumptions. Changes to the Company’s estimate of the payments expected to be made to the purchaser over the term of such arrangements could have a material effect on the amount of revenues recognized in any particular period. Research Collaborations — The Company recognizes revenue over the term of the statements of work under any funded research collaborations. Revenue recognition for consideration, if any, related to a license option right is assessed based on the terms of any such future license agreement or is otherwise recognized at the completion of the research collaborations. Please refer to Note 3 for further details on the license and collaboration agreements into which the Company has entered and corresponding amounts of revenue recognized during the current and prior year periods. Cost of sales, excluding amortization of acquired intangible assets — Cost of sales, excluding amortization of acquired intangible assets, consist of costs associated with the manufacture of YUTIQ and DEXYCU, certain period costs, product shipping and, as applicable, royalty expense. The inventory costs for YUTIQ include purchases of various components, the active pharmaceutical ingredient (“API”) and internal labor and overhead for the product manufactured in the Company’s Watertown, MA facility. The inventory costs for DEXYCU include purchased components, the API and third-party manufacturing and assembly. For the three months ended June 30, 2021 and 2020, the Company accrued DEXYCU product revenue-based royalty expense of $648,000 and $99,000, respectively, as a component of cost of sales. For the six months ended June 30, 2021 and 2020, the Company accrued DEXYCU product revenue-based royalty expense of $1.1 million and $616,000, respectively, as a component of cost of sales, of which $0 and $400,000, respectively, were related to the earn-out payment equal to 20% of the $2 million upfront license fee received from Ocumension in February 2020 (See Note 3), as the payment of the partnering income in connection with the Company’s acquisition of Icon Bioscience, Inc. in March 2018 (the “Icon Acquisition”).

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenue	3 . Revenue Product Revenue Reserves and Allowances The Company’s product revenues have been primarily from sales of YUTIQ and DEXYCU in the U.S., which it began shipping to its customers in February 2019 and March 2019, respectively. Net product revenues by product for the three and six months ended June 30, 2021 and 2020 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 YUTIQ (A) $ 4,166 $ 2,879 $ 7,196 $ 6,454 DEXYCU (B) 4,572 827 8,344 1,939 Total product sales, net $ 8,738 $ 3,706 $ 15,540 $ 8,393 (A) Included approximately $14,000 and $11,000 of revenue from YUTIQ product sales to Ocumension for the three months ended June 30, 2021 and 2020, respectively. Included approximately $19,000 and $11,000 of revenue from YUTIQ product sales to Ocumension for the six months ended June 30, 2021 and 2020, respectively. (B) No revenue was recognized from DEXYCU product sales to Ocumension for the three and six months ended June 30, 2021 and 2020. The following table summarizes activity in each of the product revenue allowance and reserve categories for the six months ended June 30, 2021 and 2020, respectively (in thousands): Chargebacks, Discounts Government and Other and Fees Rebates Returns Total Beginning balance at January 1, 2021 $ 574 $ 535 $ 603 $ 1,712 Provision related to sales in the current year 2,932 1,965 497 5,394 Adjustments related to prior period sales (50 ) (22 ) (100 ) (172 ) Deductions applied and payments made (2,229 ) (1,121 ) (581 ) (3,931 ) Ending balance at June 30, 2021 $ 1,227 $ 1,357 $ 419 $ 3,003 Chargebacks, Discounts Government and Other and Fees Rebates Returns Total Beginning balance at January 1, 2020 $ 1,618 $ 271 $ 352 $ 2,241 Provision related to sales in the current year 864 247 436 1,547 Adjustments related to prior period sales (387 ) — 50 (337 ) Deductions applied and payments made (1,185 ) (400 ) (324 ) (1,909 ) Ending balance at June 30, 2020 $ 910 $ 118 $ 514 $ 1,542 Returns are recorded as a reduction of accounts receivable on the condensed consolidated balance sheets. Chargebacks, discounts and fees and rebates are recorded as a component of accrued expenses on the condensed consolidated balance sheets (See Note 6). License and Collaboration Agreements and Royalty Income Alimera Pursuant to a licensing and development agreement, as amended (the “Amended Alimera Agreement”), Alimera Sciences, Inc. (“Alimera”) has a worldwide exclusive license to develop, make, market and sell ILUVIEN in return for royalties based on sales and patent fee reimbursements. Royalties income was $0 and $381,000 for the three months ended June 30, 2021 and 2020, respectively, and $0 and $1.2 million for the six months ended June 30, 2021 and 2020, respectively. Total revenue was $2,000 and $386,000 for the three months ended June 30, 2021 and 2020, respectively, and $15,000 and $1.2 million for the six months ended June 30, 2021 and 2020, respectively. SWK Royalty Purchase Agreement On December 17, 2020, the Company entered into a royalty purchase agreement (the “RPA”) with SWK Funding LLC (“SWK”). Under the RPA, the Company sold its right to receive royalty payments on future sales of products subject to the Amended Alimera Agreement for an upfront cash payment of $16.5 million. Except for the rights to the royalties, the Company retains all rights and obligations under the Amended Alimera Agreement, pursuant to which, Alimera owns worldwide rights to the Company’s Durasert technology in ILUVIEN for diabetic macular edema (“DME”) and rights for ILUVIEN (currently marketed by the Company as YUTIQ in the U.S.) for non-infectious posterior uveitis in Europe, the Middle East, and Africa (“EMEA”). Alimera has the sole rights to utilize the intellectual property developed under the Amended Alimera Agreement. There has been no intellectual property developed jointly by Alimera and the Company as part of the Amended Alimera Agreement. The Company cannot utilize the intellectual property for the indication licensed to Alimera in order to manufacture and sell ILUVIEN. The Company’s ongoing efforts under the Amended Alimera Agreement will consist of continuing to maintain and enforce its patents as well as providing safety data and regulatory support as necessary. None of these obligations require significant efforts on the part of the Company with respect to the generation of sales in the market. The Company will only be required to expend more extensive efforts if litigation were to arise that requires the Company to protect its patents rights pursuant to the terms of the Amended Alimera Agreement. Historically, such a defense has not been required. Similarly, regulatory support and safety data is only provided on an ad-hoc basis depending on the regulatory requests, which has been minimal historically. It remains Alimera’s sole responsibility to manufacture, actively market and promote the products under the Amended Alimera Agreement to generate the sales, which ultimately generate the royalties to be paid to SWK. The Company classified the proceeds received from SWK as deferred revenue, to be recognized as revenue under the units-of-revenue method over the life of the RPA because of the Company’s limited continuing involvement in the Amended Alimera Agreement. SWK has no recourse and the Company assumes no credit risk in event that Alimera fails to make a royalty payment. The Company must only forward all material correspondence from Alimera to SWK, including royalty reports, notices and any other correspondence with respect to royalties to SWK. SWK has the right to audit and inspect the books and records pertaining to net sales and royalties under the Amended Alimera Agreement. Neither the Company nor SWK has the unilateral ability to cancel the transaction. There is no cap or limitation on the royalties to be received by SWK in the future and its return will reflect all royalties paid by Alimera. Because the transaction was structured as a non-cancellable sale, the Company does not have significant continuing involvement in the generation of the cash flows due to SWK and there is no limitation on the rates of return to SWK, the Company recorded the total proceeds of $16.5 million as deferred revenue under royalty sale agreement. The deferred revenue is being recognized as revenue over the life of the RPA under the "units-of-revenue" method. Under this method, amortization for a reporting period is calculated by computing a ratio of the proceeds received from SWK to the payments expected to be made by Alimera to SWK over the term of the Amended Alimera Agreement, and then applying that ratio to the period’s cash payment. The Company recognized $181,000 and $361,000 of royalty revenue related to the RPA for the three and six months ended June 30, 2021, in connection with the royalty payment of $583,000 and $1.2 million for the three and six months ended June 30, 2021 from Alimera to SWK, pursuant to the Amended Alimera Agreement. No revenue was recognized related to the RPA for the three and six months ended June 30, 2020. As of June 30, 2021, the Company had $1.0 million and $15.1 million as current and non-current deferred revenue recognized under royalty sale agreement, respectively. As of December 31, 2020, the Company classified $885,000 and $15.6 million as current and non-current deferred revenue recognized under royalty sale agreement, respectively. Ocumension Therapeutics In November 2018, the Company entered into an exclusive license agreement with Ocumension Therapeutics (“Ocumension”) for the development and commercialization of its three-year micro insert using the Durasert technology for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye (YUTIQ in the U.S.) in Mainland China, Hong Kong, Macau and Taiwan. The Company received a one-time upfront payment of $1.75 million from Ocumension and is eligible to receive up to (i) $7.25 million upon the achievement by Ocumension of certain prescribed development and regulatory milestones, and (ii) $3.0 million commercial sales-based milestones. In addition, the Company is entitled to receive mid-single digit sales-based royalties. Ocumension has also received a special approval by the Hainan Province People's Government to market this product for chronic, non-infectious posterior segment uveitis in the Hainan Bo Ao Lecheng International Medical Tourism Pilot Zone (“Hainan Pilot Zone”). In March 2019, the Company entered into a Memorandum of Understanding (“2019 MOU”), pursuant to which, the Company will supply product for the clinical trials and Hainan Pilot Zone use. Paralleling to Ocumension’s normal registration process of the product with the Chinese Regulatory Authorities, the 2019 MOU modified the Company’s entitlement to the development and regulatory milestones of up to $7.25 million under the license agreement to product supply milestones or development milestones, whichever comes first, totaling up to $7.25 million. In August 2019, the Company began shipping this product to Ocumension. The Company was required to provide a fixed number of hours of technical assistance support to Ocumension at no cost, which support has been completed and no future performance obligation exists. Ocumension is responsible for all development, regulatory and commercial costs, including any additional technical assistance requested. Ocumension has a first right of negotiation for an additional exclusive license to the Company’s shorter-duration line extension candidate for this indication. In August 2019, the Company received a $1.0 million development milestone payment from Ocumension triggered by the approval of its Investigational New Drug (“IND”) in China for this program. The IND allows the importation of finished product into China for use in a clinical trial to support regulatory filing. In January 2020, the Company entered into an exclusive license agreement with Ocumension for the development and commercialization in Mainland China, Hong Kong, Macau and Taiwan of DEXYCU for the treatment of post-operative inflammation following ocular surgery. Pursuant to the terms of the license agreement, the Company received upfront payments of $2.0 million from Ocumension in February 2020 and will be eligible to receive up to (i) $6.0 million upon the achievement by Ocumension of certain prescribed development and regulatory milestones, and (ii) $6.0 million commercial sales-based milestones. In addition, the Company is entitled to receive mid-single digit sales-based royalties. In exchange, Ocumension will receive exclusive rights to develop and commercialize DEXYCU in Mainland China, Hong Kong, Macau and Taiwan, at its own cost and expense with the Company supplying product for clinical trials and commercial sale. In addition, Ocumension will receive a fixed number of hours of technical assistance support from the Company at no cost. In August 2020, the Company entered into a Memorandum of Understanding (“2020 MOU”), pursuant to which, the Company received a one-time non-refundable payment of $9.5 million (the “Accelerated Milestone Payment”) from Ocumension as a full and final payment of the combined remaining development, regulatory and sales milestone payments under the Company’s license agreements with Ocumension for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye and for the treatment of post-operative inflammation following ocular surgery, respectively. Upon payment of the Accelerated Milestone Payment, the remaining $11.75 million in combined remaining development and sales milestone payments under the Company’s original were permanently extinguished and will no longer be due and owed to the Company. In exchange, Ocumension also received exclusive rights to develop and commercialize YUTIQ and DEXYCU products under its own brand names in South Korea and other jurisdictions across Southeast Asia in Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam, (“NDA”) for YUTIQ under Ocumension’s distinct name to Chinese regulatory authorities and it is under review. Ocumension has been granted approval to have its NDA submission reviewed based on the U.S. NDA data and the real world data Ocumension has collected from marketing the product in Hainan Pilot Zone. Other than a fixed number of hours of technical assistance support to be provided at no cost by the Company, Ocumension is responsible for all development, regulatory and commercial costs, including any additional technical assistance requested. All technical assistance was provided during 2020. The Chief Executive Officer of Ocumension became a director of the Company starting December 31, 2020, pursuant to a Share Purchase Agreement pursuant to which the Company sold to Ocumension 3,010,722 shares of common stock, at which time, Ocumension became a related party of the Company. During the three months ended June 30, 2021 and 2020, the Company recognized $91,000 and $0, respectively, related to additional technical assistance. During the six months ended June 30, 2021 and 2020, the Company recognized $360,000, related to additional technical assistance, and approximately $2.0 million of license and collaboration revenue, respectively. The Company recognized no sales-based royalty expense during the three months ended June 30, 2021 and 2020. The Company recognized $0 and $400,000 of accrued sales-based royalty expense during the six months ended June 30, 2021 and 2020, respectively, related to the earn-out payment equal to 20% of the $2.0 million upfront license fee received from Ocumension in February 2020, as the payment of the partnering income in connection with the Icon Acquisition in March 2018. Research Collaborations The Company from time to time enters into funded agreements to evaluate the potential use of its technology systems for sustained release of third-party partner drug candidates. Consideration received is generally recognized as revenue over the term of the research collaborations. Revenue recognition for consideration, if any, related to a license option right is assessed based on the terms of any such future license agreement or is otherwise recognized at the completion of the research collaborations. No revenues recognized under research collaborations for each of the three months ended June 30, 2021 and 2020, and $60,000 and $15,000 for the six months ended June 30, 2021 and 2020, respectively. At June 30, 2021 and December 31, 2020, $0 and $60,000 deferred revenue was recorded for the research collaborations, respectively.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventory	4. Inventory Inventory consisted of the following (in thousands): June 30, 2021 December 31, 2020 Raw materials $ 3,135 $ 2,664 Work in process 153 747 Finished goods 2,093 1,926 Total inventory $ 5,381 $ 5,337

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	5 . Intangible Assets The reconciliation of intangible assets for the six months ended June 30, 2021 and 2020 was as follows (in thousands): June 30, June 30, 2021 2020 Patented technologies Gross carrying amount at beginning of period $ 68,322 $ 68,322 Gross carrying amount at end of period 68,322 68,322 Accumulated amortization at beginning of period (43,113 ) (40,653 ) Amortization expense (1,230 ) (1,230 ) Accumulated amortization at end of period (44,343 ) (41,883 ) Net book value at end of period $ 23,979 $ 26,439 The Company amortizes intangible assets with finite lives on a straight-line basis over their respective estimated useful lives. Amortization of intangible assets totaled $615,000 and $1.2 million for each of the three and six months ended June 30, 2021 and 2020, respectively. In connection with the Icon Acquisition, the initial purchase price was attributed to the DEXYCU product intangible asset. This finite-lived intangible asset is being amortized on a straight-line basis over its expected remaining useful life of 9.75 years at the rate of approximately $2.5 million per year. Amortization expense was reported as a component of cost of sales for the three and six months ended June 30, 2021 and 2020, respectively.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2021
Payables And Accruals [Abstract]
Accrued Expenses	6 . Accrued Expenses Accrued expenses consisted of the following at June 30, 2021 and December 31, 2020 (in thousands): June 30, December 31, 2021 2020 Personnel costs $ 3,457 $ 5,686 Clinical trial costs 259 — Professional fees 616 647 Sales chargebacks, rebates and other revenue reserves 2,584 1,109 Other 2,198 1,003 $ 9,114 $ 8,445

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	7 . Leases On May 17, 2018, the Company amended the lease for its headquarters in Watertown, Massachusetts. The original five-year lease for approximately 13,650 square feet of combined office and laboratory space was set to expire in April 2019. Under the amendment, the Company leased an additional 6,590 square feet of rentable area of the building, with a commencement date of September 10, 2018. The amendment extended the term of the lease for the combined space through May 31, 2025. On April 5, 2021, the Company further amended the lease to include an additional 1,409 square feet of rentable area of the building through May 31, 2025, with a commencement date of July 1, 2021. The landlord agreed to provide the Company a construction allowance of up to $670,750 to be applied toward the aggregate work completed on the total space. The Company has an option to further extend the term of the lease for one additional five-year Per the terms of the lease agreement, the Company does not have a residual value guarantee. The Company previously provided a cash-collateralized $150,000 irrevocable standby letter of credit as security for the Company’s obligations under the lease, which was extended through the period that is four months beyond the expiration date of the amended lease. The Company will also be required to pay its proportionate share of certain operating costs and property taxes applicable to the leased premises in excess of new base year amounts. In July 2017, the Company leased approximately 3,000 square feet of office space in Basking Ridge, New Jersey under a lease term extending through June 2022, with two five-year The Company identified and assessed the following significant assumptions in recognizing its right-of-use (“ROU”) assets and corresponding lease liabilities: • As the Company’s leases do not provide an implicit rate, the Company estimated the incremental borrowing rate in calculating the present value of the lease payments. The Company utilized the borrowing rate under its existing 5-year term loan facility (see Note 8) as the discount rate. • Since the Company elected to account for each lease component and its associated non-lease components as a single combined component, all contract consideration was allocated to the combined lease component. • The expected lease terms include noncancelable lease periods. Renewal option periods have not been included in the determination of the lease terms as they are not deemed reasonably certain of exercise. • Variable lease payments, such as common area maintenance, real estate taxes and property insurance are not included in the determination of the lease’s ROU asset or lease liability. As of June 30, 2021, the weighted average remaining term of the Company’s operating leases was 3.8 Supplemental balance sheet information related to operating leases as of June 30, 2021 and December 31, 2020 are as follows (in thousands): June 30, December 31, 2021 2020 Other current liabilities - operating lease current portion $ 613 $ 568 Operating lease liabilities – noncurrent portion 2,013 2,330 Total operating lease liabilities $ 2,626 $ 2,898 Operating lease expense recognized related to ROU assets was $213,000, excluding $9,000 of variable lease costs, for each of the three months ended June 30, 2021 and 2020, and $427,000 related to ROU assets, excluding $18,000 of variable lease costs, during each of the six months ended June 30, 2021 and 2020, and were included in general and administrative expense in the Company’s statement of comprehensive loss. Cash paid for amounts included in the measurement of operating lease liabilities was $221,000 and $215,000 for the three months ended June 30, 2021 and 2020, respectively, and $442,000 and $430,000 for the six months ended June 30, 2021 and 2020, respectively. The Company is a party to two finance leases for laboratory equipment. The equipment leases expire in December 2021 and December 2022, respectively. Supplemental balance sheet information related to the finance lease as of June 30, 2021 and December 31, 2020 are as follows (in thousands): June 30, December 31, 2021 2020 Property and equipment, at cost $ 239 $ 239 Accumulated amortization (115 ) (52 ) Property and equipment, net $ 124 $ 187 Other current liabilities – $ 95 $ 119 Other long-term liabilities 35 71 Total finance lease liabilities $ 130 $ 190 The components of finance lease expense recognized during the three and six months ended June 30, 2021 related to ROU assets was $30,000 and $62,000 and interest on lease liabilities was $4,000 and $10,000. Cash paid for amounts included in the measurement of finance lease liabilities were operating cash flows of $4,000 and $10,000 during the three and six months ended June 30, 2021, respectively, and financing cash flows of $29,000 and $58,000 during the three and six months ended June 30, 2021, respectively. The components of finance lease expense recognized during the three and six months ended June 30, 2020 related to ROU assets were $ 13,000 and $ 27,000 , respectively. Interest on lease liabilities were $ 2,000 and $ 5,000 , respectively, during the three and six months ended June 30, 2020. Cash paid for amounts included in the measurement of finance lease liabilities were operating cash flows of $ 2,000 and $ 4,000 during the three and six months ended June 30, 2020, and financing cash flows of $ 12,000 and $ 20,000 during the three and six months ended June 30, 2020. As of June 30, 2021, the weighted average remaining term of the Company’s finance lease was 1.3 T he Company’s total future minimum lease payments under non-cancellable leases at June 30, 2021 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2021 $ 448 $ 65 2022 849 75 2023 815 — 2024 830 — 2025 346 — Total lease payments $ 3,288 $ 140 Less imputed interest (662 ) (10 ) Total $ 2,626 $ 130

Loan Agreements

Loan Agreements	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Loan Agreements	8 . Loan Agreements Paycheck Protection Program Loan On April 8, 2020, the Company applied to Silicon Valley Bank (the “SVB”) for a Paycheck Protection Program Loan (the “PPP Loan”) of $2.0 million that is administered by the U.S. Small Business Administration (the “SBA”), under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). On April 22, 2020, the PPP Loan was approved and the Company received the PPP Loan proceeds. The PPP Loan bears interest at a fixed rate of 1.0% per annum and has a two-year or full forgiveness and principal and interest payments can be deferred as described below, if the PPP Loan proceeds are used for covered payroll costs, rent and utility costs and the maintenance of employee and compensation levels. The Paycheck Protection Program Flexibility Act of 2020 (the “PPP Flexibility Act”), enacted on June 5, 2020, amended the Paycheck Protection Program, among others, as follows: (i) extended the covered period from 8 weeks to the earlier of 24 weeks from the date the PPP Loan is originated and December 31, 2020, during which PPP funds needed to be expended in order to be forgiven. A borrower may submit a loan forgiveness application any time on or before the maturity date of the loan – including before the end of the covered period – if the borrower has used all of the loan proceeds for which the borrower is requesting forgiveness; (ii) at least 60% of PPP funds must be spent on payroll costs, with the remaining 40% available to spend on other eligible expenses; (iii) payments are deferred until the date on which the amount of forgiveness determined is remitted to the lender. If a borrower fails to seek forgiveness within 10 months after the last day of its covered period, then payments will begin on the date that is 10 months after the last day of the covered period. In addition, the PPP Flexibility Act modified the CARES Act by increasing the maturity date for loans made after the effective date from two years to a minimum maturity of five years from the date on which the borrower applies for loan forgiveness. Existing PPP loans made before the new legislation retain their original two-year term, but may be renegotiated between a lender and a borrower to match the 5-year term permitted under the PPP Flexibility Act. The Company used all of the loan proceeds from the PPP Loan to pay expenses during the covered period that the Company believes were for eligible purposes. On September 25, 2020, the Company submitted an application to the SBA through SVB for full loan forgiveness. On June 19, 2021, the Company received notification from SVB that the PPP Loan of $2.0 million has been fully forgiven by the SBA, and that payment and all accrued interest of $24,000 thereon were remitted by the SBA to SVB on June 16, 2021. In connection with the full loan forgiveness, the Company recorded a gain on extinguishment of debt of approximately $2.1 million in the three and six months ended June 30, 2021. CRG Term Loan Agreement On February 13, 2019 (the “CRG Closing Date”), the Company entered into the CRG Loan Agreement among the Company, as borrower, CRG Servicing LLC, as administrative agent and collateral agent (the “Agent”), and the lenders party thereto from time to time (the “Lenders”), On the CRG Closing Date, $35 million of the CRG Loan was advanced (the “CRG Initial Advance”). The Company utilized the proceeds from the CRG Initial Advance for the repayment in full of all outstanding obligations under its prior credit agreement (the “SWK Credit Agreement”) with SWK Funding LLC (“SWK”). In April 2019, the Company exercised its option to borrow an additional $15 million of the CRG Loan (the “CRG Second Advance”). The Company did not draw any additional funds under the CRG Loan by the final draw deadline of March 31, 2020. The CRG Loan is due and payable on December 31, 2023 (the “Maturity Date”). The CRG Loan bears interest at a fixed rate of 12.5% per annum payable in arrears on the last business day of each calendar quarter. The Company is required to make quarterly, interest only payments until the Maturity Date. So long as no default has occurred and is continuing, the Company may elect on each applicable interest payment date to pay 2.5% of the 12.5% per annum interest as Paid In-Kind (“PIK”), whereby such PIK amount would be added to the aggregate principal amount and accrue interest at 12.5% per annum. During the six months ended June 30, 2021, no PIK amounts In connection with the CRG Initial Advance, a 1.5% financing fee of $525,000 and an expense reimbursement of $350,000 were deducted from the net borrowing proceeds. In connection with the CRG Second Advance, a 1.5% financing fee of $225,000 was deducted from the net borrowing proceeds. Upon the occurrence of a bankruptcy-related event of default, all amounts outstanding with respect to the CRG Loan become due and payable immediately, and upon the occurrence of any other Event of Default (as defined in the CRG Loan Agreement), all or any amounts outstanding with respect to the CRG Loan may become due and payable upon request of the Agent or majority Lenders. Subject to certain exceptions, the Company is required to make mandatory prepayments of the CRG Loan with the proceeds of assets sales and in the event of a change of control of the Company. In addition, the Company may make a voluntary prepayment of the CRG Loan, in whole or in part, at any time. All mandatory and voluntary prepayments of the CRG Loan are subject to the payment of prepayment premiums as follows: (i) if prepayment occurs on or prior to December 31, 2019, an amount equal to 10 % of the aggregate outstanding principal amount of the CRG Loan being prepaid, (ii) if prepayment occurs after December 31, 2019 and on or prior to December 31, 2020, 5 % of the aggregate outstanding principal amount of the CRG Loan being prepaid , which was waived on December 17, 2020 when the Company paid $ 15.0 million against the CRG Loan obligations in connection with the consummation of the RPA agreement (see Note 3), and (iii) if prepayment occurs after December 31, 2020 and on or prior to December 31, 2021, an amount equal to 3 % of the aggregate outstanding principal amount of the CRG Loan being prepaid. No prepayment premium is due on any principal prepaid after December 31, 2021. Certain of the Company’s existing and future subsidiaries are guaranteeing the obligations of the Company under the CRG Loan Agreement. The obligations of the Company under the CRG Loan Agreement and the guarantee of such obligations are secured by a pledge of substantially all of the Company’s and the g uarantors’ assets. The CRG Loan Agreement contains affirmative and negative covenants customary for financings of this type, including limitations on our and our subsidiaries’ abilities, among other things, to incur additional debt, grant or permit additional liens, make investments and acquisitions, merge or consolidate with others, dispose of assets, pay dividends and distributions and enter into affiliate transactions, in each case, subject to certain exceptions. In addition, the CRG Loan Agreement contains the following financial covenants requiring the Company and the Guarantors to maintain: • liquidity in an amount which shall exceed the greater of (i) $5 million and (ii) to the extent the Company has incurred certain permitted debt, the minimum cash balance, if any, required of the Company by the creditors of such permitted debt; and • annual minimum product revenue from YUTIQ and DEXYCU: (i) for the twelve-month period beginning on January 1, 2019 and ending on December 31, 2019, of at least $15 million, (ii) for the twelve-month period beginning on January 1, 2020 and ending on December 31, 2020 , (iii) for the twelve-month period beginning on January 1, 2021 and ending on December 31, 2021, of at least $80 million and (iv) for the twelve-month period beginning on January 1, 2022 and ending on December 31, 2022, of at least $90 million. In November 2019, CRG waived the financial covenant associated with the Company’s revenue derived from sales of its products, DEXYCU and YUTIQ, for the twelve-month period ending December 31, 2019. In October 2020, CRG (i) waived the financial covenant associated with the Company’s revenue derived from sales of its products, DEXYCU and YUTIQ, for the twelve-month period ending December 31, 2020 and (ii) amended the financial covenant associated with the Company’s minimum product revenue to $ 45 incremental charges for the issuance of the waivers. The total debt discount related to the CRG Initial Advance was approximately $3.2 million and consisted of (i) the accrual of a $2.1 million exit fee; (ii) the $525,000 upfront fee; and (iii) $591,000 of legal and other transaction costs. This amount is being amortized as additional interest expense over the term of the Loan using the effective interest rate method. The total debt discount related to the CRG Second Advance was approximately $1.1 million and consisted of (i) the accrual of a $900,000 exit fee; and (ii) the $225,000 upfront fee. This amount is being amortized as additional interest expense over the term of the Loan using the effective interest rate method. On December 17, 2020, the Company paid $15.0 million against the CRG Loan obligations in connection with the consummation of the RPA agreement (see Note 3). This payment included (i) a $13.8 million principal portion of the CRG Loan (ii) the $828,000 Exit Fee, and (iii) accrued and unpaid interest of $378,000 through that date. In connection with the partial prepayment of the CRG Loan, the Company recorded a loss on partial extinguishment of debt of $905,000 in the year ended December 31, 2020, associated with the write-off of the remaining balance of unamortized debt discount related to the partial prepayment of the CRG Loan. Amortization of debt discount under the CRG Loan totaled $153,000 and $177,000 for the three months ended June 30, 2021 and 2020, respectively, and $300,000 and $348,000 for the six months ended June 30, 2021 and 2020, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders' Equity	9 . Stockholders’ Equity 2021 Equity Financings Common Stock Offering In February 2021, the Company sold 10,465,000 shares of its common stock in an underwritten public offering at a price of $11.00 per share, including the exercise in full by the underwriters of their option to purchase up to 1,365,000 additional shares of the Company’s common stock. The gross proceeds of the offering to the Company were approximately $115.1 million. Underwriter discounts and commissions and other share issue costs totaled approximately $7.2 million. ATM Facility In August 2020, the Company entered into an at-the-market facility (the “ATM Facility”) with Cantor Fitzgerald & Co (“Cantor”). Pursuant to the ATM Facility, the Company may, at its option, offer and sell shares of its common stock from time to time for an aggregate offering price of up to $25.0 million. The Company will pay Cantor a commission of 3.0% of the gross proceeds from any future sales of such shares. During the three months ended June 30, 2021, the Company sold no shares of its common stock under the ATM facility. During the six months ended June 30, 2021, the Company sold 48,538 shares of its common stock, at a weighted average price of $11.37 per share, for gross proceeds of approximately $552,000. Share issue costs, including sales agent commissions, totaled approximately $53,000 during the six months ended June 30, 2021. 2020 Equity Financing In February 2020, the Company sold 1,500,000 shares of the Company’s common stock in an underwritten public offering at a price of $14.50 per share for gross proceeds of $21.75 million. Underwriter discounts and commissions and other share issue costs totaled approximately $1.8 million. At the Annual Meeting of Stockholders held on June 23, 2020, the Company’s stockholders approved the adoption of an amendment to the Company’s Certificate of Incorporation, to increase the number of authorized shares of its common stock from shares to shares. The Company filed the Certificate of Amendment on June 23, 2020. Warrants to Purchase Common Shares The following table provides a reconciliation of fixed price warrants to purchase shares of the Company’s common stock for the six months ended June 30, 2021 and 2020: Six Months Ended June 30, 2021 2020 Weighted Weighted Average Average Number of Exercise Number of Exercise Warrants Price Warrants Price Balance at beginning of period 48,683 $ 12.33 48,683 $ 12.33 Balance and exercisable at end of period 48,683 $ 12.33 48,683 $ 12.33 Pursuant to a credit agreement, the Company issued a warrant to SWK Funding LLC to purchase (i) 40,910 shares of the Company’s common stock on March 28, 2018 at an exercise price of $11.00 per share with a seven-year seven-year

Share-Based Payment Awards

Share-Based Payment Awards	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Payment Awards	10 . Share-Based Payment Awards Equity Incentive Plan The 2016 Long-Term Incentive Plan (the “2016 Plan”), approved by the Company’s stockholders on December 12, 2016 (the “Adoption Date”), provides for the issuance of up to 300,000 shares of the Company’s common stock reserved for issuance under the 2016 Plan plus any additional shares of the Company’s common stock that were available for grant under the 2008 Incentive Plan (the “2008 Plan”) at the Adoption Date or would otherwise become available for grant under the 2008 Plan as a result of subsequent termination or forfeiture of awards under the 2008 Plan. At the Company’s Annual Meeting of Stockholders held on June 25, 2019, the Company’s stockholders approved an amendment to the 2016 Plan to increase the number of shares authorized for issuance by 1,100,000 shares. At the Company’s Annual Meeting of Stockholders held on June 22, 2021, the Company’s stockholders approved an amendment to the 2016 Plan to increase the number of shares authorized for issuance by 2,500,000 shares. At June 30, 2021, a total of approximately 2,118,067 shares were available for new awards. Certain inducement awards, although not awarded under the 2016 Plan or the 2008 Plan, are subject to and governed by the terms and conditions of the 2016 Plan or 2008 Plan, as applicable. Stock Options The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans and for inducement awards for the six months ended June 30, 2021: Weighted Weighted Average Average Remaining Aggregate Number Exercise Contractual Intrinsic of Options Price Life Value (in years) (in thousands) Outstanding at January 1, 2021 1,338,880 $ 20.86 Granted 833,727 12.98 Exercised (827 ) 11.65 Forfeited (48,304 ) 17.31 Expired (23,666 ) 31.92 Outstanding at June 30, 2021 2,099,810 $ 17.69 8.05 $ 134 Exercisable at June 30, 2021 834,187 $ 23.42 6.35 $ 3 In January 2019, the Company expanded the terms of its annual stock option grants to include vesting ratable monthly over four years, or with 25% vesting after one year followed by ratable monthly vesting over three years. Previously, the Company’s option grants generally had ratable annual vesting over three years, or 1-year cliff vesting. Nonemployee awards are granted similar to the Company’s employee awards. All option grants have a 10-year term. Options to purchase a total of 170,283 shares of the Company’s common stock vested during the six months ended June 30, 2021. Starting February 2021, the Company (i) ceased vesting ratable monthly over four years and (ii) retained 25% vesting after one year followed by ratable monthly vesting over the remaining three years. In determining the grant date fair value of option awards during the six months ended June 30, 2021, the Company applied the Black-Scholes option pricing model based on the following key assumptions: Option life (in years) 4.75 - 6.08 Stock volatility 72.5% - 83.07% Risk-free interest rate 0.42% - 1.18% Expected dividends 0.0% The following table summarizes information about employee, non-executive director and external consultant stock options for the six months ended June 30, 2021 (in thousands): Six Months Ended June 30, 2021 Weighted-average grant date fair value per share $ 8.41 Total cash received from exercise of stock options 10 Total intrinsic value of stock options exercised 2 Time-Vested Restricted Stock Units Time-vested restricted stock unit awards (“RSUs”) issued to date under the 2016 Plan generally vest on a ratable annual basis over 3 years. The related stock-based compensation expense is recorded over the requisite service period, which is the vesting period. The fair value of all time-vested RSUs is based on the closing share price of the Company’s common stock on the date of grant. The following table provides a reconciliation of RSU activity under the 2016 Plan for the six months ended June 30, 2021: Weighted Number of Average Restricted Grant Date Stock Units Fair Value Nonvested at January 1, 2021 149,004 $ 13.85 Granted 227,141 13.06 Vested (80,909 ) 14.61 Forfeited (4,319 ) 11.72 Nonvested at June 30, 2021 290,917 $ 13.05 At June 30, 2021, the weighted average remaining vesting term of the RSUs was 1.51 years. Deferred Stock Units There were no non-vested deferred stock units (“DSUs”) issued and outstanding to the Company’s non-executive directors at each of June 30, 2021 and December 31, 2020, respectively. Each DSU vests one year from the date of grant. Subsequent to vesting, the DSUs will be settled in shares of the Company’s common stock upon the earliest to occur of (i) each director’s termination of service on the Company’s Board of Directors and (ii) the occurrence of a change of control as defined in the award agreement. At June 30, 2021, there were no vested DSUs that have not been settled in shares of the Company’s common stock. Employee Stock Purchase Plan On June 25, 2019, the Company’s stockholders approved the adoption of the EyePoint Pharmaceuticals, Inc. 2019 Employee Stock Purchase Plan (the “ESPP”) and authorized up to 110,000 shares of common stock reserved for issuance to participating employees. At the Company’s Annual Meeting of Stockholders held on June 22, 2021, the Company’s stockholders approved an amendment to the ESPP to increase the number of shares authorized for issuance by 250,000 shares. The number of shares of the Company’s common stock each employee may purchase under this plan, when combined with all other employee stock purchase plans, is limited to the lower of an aggregate fair market value of $25,000 during each calendar year, or 5,000 shares of the Company’s common stock in any one offering period. The Company has maintained consecutive six-month offering periods since The Company estimated the fair value of the option component of the ESPP shares at the date of grant using a Black-Scholes valuation model. During the three and six months ended June 30 , 202 1 , the compensation expense from ESPP shares was immaterial. Stock-Based Compensation Expense The Company’s consolidated statements of comprehensive loss included total compensation expense from stock-based payment awards for the three and six months ended June 30, 2021 and 2020, respectively, as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Compensation expense included in: Research and development $ 255 $ (49 ) $ 518 $ 214 Sales and marketing 241 141 481 393 General and administrative 684 643 1,169 1,288 $ 1,180 $ 735 $ 2,168 $ 1,895 At June 30, 2021, there was approximately $10.7 million of unrecognized compensation expense related to outstanding equity awards under the 2016 Plan, the 2008 Plan, the inducement awards and the ESPP that is expected to be recognized as expense over a weighted-average period of approximately 1.64 years.

License Agreement

License Agreement	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
License Agreement	11. License Agreement Equinox Science, LLC In February 2020, the Company entered into an Exclusive License Agreement with Equinox Science, LLC (“Equinox”), pursuant to which Equinox granted the Company an exclusive, sublicensable, royalty-bearing right and license to certain patents and other Equinox intellectual property to research, develop, make, have made, use, sell, offer for sale and import the compound vorolanib and any pharmaceutical products comprising the compound for the prevention or treatment of age-related macular degeneration, diabetic retinopathy and retinal vein occlusion using our proprietary localized delivery technologies, in each case, throughout the world except China, Hong Kong, Taiwan and Macau. In consideration for the rights granted by Equinox, the Company (i) made a one time, non-refundable, non-creditable upfront cash payment of $1.0 million to Equinox in February 2020, and (ii) agreed to pay milestone payments totaling up to $50 million upon the achievement of certain development and regulatory milestones, consisting of (a) completion of a Phase II clinical trial for the compound or a licensed product, (b) the filing of a new drug application or foreign equivalent for the compound or a licensed product in the United States, European Union or United Kingdom and (c) regulatory approval of the compound or a licensed product in the United States, European Union or United Kingdom. The Company also agreed to pay Equinox tiered royalties based upon annual net sales of licensed products in the specified territory. The royalties are payable with respect to a licensed product in a particular country in the specified territory on a country-by-country and licensed product-by-licensed product basis until the later of (i) twelve years after the first commercial sale of such licensed product in such country and (ii) the first day of the month following the month in which a generic product corresponding to such licensed product is launched in such country. The Company recorded $0 and $1.0 million of R&D expense for the three and six months ended June 30, 2020, respectively, due to the early stage of its preclinical drug development studies. No additional charge was recorded for the three and six months ended June 30, 2021.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	12. Fair Value Measurements The following tables summarize the Company’s assets carried at fair value measured on a recurring basis at June 30, 2021 and December 31, 2020 by valuation hierarchy (in thousands): June 30, 2021 Quoted prices in Significant other Significant Total Carrying active markets observable inputs unobservable inputs Description Value (Level 1) (Level 2) (Level 3) Assets: Cash equivalents $ 125,048 $ 125,048 $ — $ — $ 125,048 $ 125,048 $ — $ — December 31, 2020 Quoted prices in Significant other Significant Total Carrying active markets observable inputs unobservable inputs Description Value (Level 1) (Level 2) (Level 3) Assets: Cash equivalents $ 23,538 $ 23,538 $ — $ — $ 23,538 $ 23,538 $ — $ — Financial instruments that potentially subject the Company to concentrations of credit risk have historically consisted principally of cash and cash equivalents. At June 30, 2021 and December 31, 2020, substantially all of the Company’s interest-bearing cash equivalent balances were concentrated in one U.S. Government institutional money market fund that has investments consisting primarily of U.S. Government Agency debt, U.S. Treasury Repurchase Agreements and U.S. Government Agency Repurchase Agreements. These deposits may be redeemed upon demand and, therefore, generally have minimal risk. The Company’s cash equivalents are classified within Level 1 on the basis of valuations using quoted market prices. The carrying amounts of accounts receivable, accounts payable and accrued expenses approximate fair value because of their short-term maturity. The fair value of the Company’s CRG Loan is determined using a discounted cash flow analysis based on market rates for observable similar instruments as of the condensed consolidated balance sheet dates. Accordingly, the fair value of the CRG Loan is categorized as Level 2 within the fair value hierarchy. At June 30 2021, the fair value of the CRG Loan was approximately $38.4 million, and the carrying value of the CRG Loan was approximately $38.5 million, and consisted of $36.2 million of its carrying amount as reported in long-term debt, and $2.3 million of debt exit fee as reported in other long-term liabilities of the condensed consolidated balance sheet, respectively. At December 31, 2020, the fair value of the CRG Loan was approximately $38.0 million, and the carrying value of the CRG Loan was approximately $38.3 million, and consisted of $36.0 million of its carrying amount as reported in long-term debt, and $2.3 million of debt exit fee as reported in other long-term liabilities of the condensed consolidated balance sheet, respectively.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Contingencies	1 3 . Contingencies Legal Proceedings The Company is subject to various other routine legal proceedings and claims incidental to its business, which management believes will not have a material effect on the Company’s financial position, results of operations or cash flows. U.S. Securities and Exchange Commission Subpoena The Company previously disclosed that on May 14, 2020 it had received a subpoena from the Division of Enforcement of the SEC seeking production of certain documents and information on topics including product sales and demand, revenue recognition and accounting in relation to product sales, product sales and cash projections, and related financial reporting, disclosure and compliance matters. On May 4, 2021, the Company was advised by the SEC Division of Enforcement that it has concluded its investigation of the Company and that, based on the information it has to date, the Enforcement Division does not intend to recommend an enforcement action against the Company.

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Loss per Share	1 4 . Net Loss per Share Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. For periods in which the Company reports net income, diluted net income per share is determined by adding to the basic weighted average number of common shares outstanding the total number of dilutive common equivalent shares using the treasury stock method, unless the effect is anti-dilutive. Potentially dilutive shares were not included in the calculation of diluted net loss per share for each of the three and six months ended June 30, 2021 and 2020 as their inclusion would be anti-dilutive. Potential common stock equivalents excluded from the calculation of diluted earnings per share because the effect would have been anti-dilutive were as follows: Six Months Ended June 30, 2021 2020 Stock options 2,099,810 1,367,235 ESPP 10,793 9,742 Warrants 48,683 48,683 Restricted stock units 290,917 146,352 2,450,203 1,572,012

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, Revenue from Contracts with Customers (“ASC 606”), the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract, determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. Product sales, net — The Company sells YUTIQ and DEXYCU to a limited number of specialty distributors and specialty pharmacies (collectively the “Distributors”) in the U.S., with whom the Company has entered into formal agreements, for delivery to physician practices for YUTIQ and to hospital outpatient departments and ambulatory surgical centers for DEXYCU. The Company recognizes revenue on sales of its products when Distributors obtain control of the products, which occurs at a point in time, typically upon delivery. In addition to agreements with Distributors, the Company also enters into arrangements with healthcare providers, ambulatory surgical centers, and payors that provide for government mandated and/or privately negotiated rebates, chargebacks, and discounts with respect to the purchase of the Company’s products from Distributors. Reserves for variable consideration — Product sales are recorded at the wholesale acquisition costs, net of applicable reserves for variable consideration. Components of variable consideration include trade discounts and allowances, provider chargebacks and discounts, payor rebates, product returns, and other allowances that are offered within contracts between the Company and its Distributors, payors, and other contracted purchasers relating to the Company’s product sales. These reserves, as detailed below, are based on the amounts earned, or to be claimed on the related sales, and are classified either as reductions of product revenue and accounts receivable or a current liability, depending on how the amount is to be settled. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the respective underlying contracts. Actual amounts of consideration ultimately received may differ from the Company’s estimates. If actual results in the future vary from the estimates, the Company adjusts these estimates, which would affect product revenue and earnings in the period such variances become known. Distribution fees — The Company compensates its Distributors for services explicitly stated in the Company’s contracts and are recorded as a reduction of revenue in the period the related product sale is recognized. Provider chargebacks and discounts — Chargebacks are discounts that represent the estimated obligations resulting from contractual commitments to sell products at prices lower than the list prices charged to the Company’s Distributors. These Distributors charge the Company for the difference between what they pay for the product and the Company’s contracted selling price. These reserves are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability . Reserves for chargebacks consist of amounts that the Company expects to pay for units that remain in the distribution channel inventories at each reporting period-end that the Company expects will be sold under a contracted selling price, and chargebacks that Distributors have claimed, but for which the Company has not yet settled. Government rebates — The Company is subject to discount obligations under state Medicaid programs and Medicare. These reserves are recorded in the same period the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability which is included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. The Company’s liability for these rebates consists of invoices received for claims from prior quarters that have not been paid or for which an invoice has not yet been received, estimates of claims for the current quarter, and estimated future claims that will be made for product that has been recognized as revenue, but which remains in the distribution channel inventories at the end of each reporting period. Payor rebates — The Company contracts with certain private payor organizations, primarily insurance companies, for the payment of rebates with respect to utilization of its products. The Company estimates these rebates and records such estimates in the same period the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability. Co-Payment assistance — The Company offers co-payment assistance to commercially insured patients meeting certain eligibility requirements. The calculation of the accrual for co-pay assistance is based on an estimate of claims and the cost per claim that the Company expects to receive associated with product that has been recognized as revenue. Product returns — The Company generally offers a limited right of return based on its returned goods policy, which includes damaged product and remaining shelf life. The Company estimates the amount of its product sales that may be returned and records this estimate as a reduction of revenue in the period the related product revenue is recognized, as well as reductions to trade receivables, net on the condensed consolidated balance sheets. License and collaboration agreement revenue — The Company analyzes each element of its license and collaboration arrangements to determine the appropriate revenue recognition. The terms of the license agreement may include payment to the Company of non-refundable up-front license fees, milestone payments if specified objectives are achieved, and/or royalties on product sales. The Company recognizes revenue from upfront payments at a point in time, typically upon fulfilling the delivery of the associated intellectual property to the customer. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes sales-based milestone payments as revenue upon the achievement of the cumulative sales amount specified in the contract in accordance with ASC 606-10-55-65. For those milestone payments which are contingent on the occurrence of particular future events, the Company determines that these need to be considered for inclusion in the calculation of total consideration from the contract as a component of variable consideration using the most-likely amount method. As such, the Company assesses each milestone to determine the probability and substance behind achieving each milestone. Given the inherent uncertainty associated with these future events, the Company will not recognize revenue from such milestones until there is a high probability of occurrence, which typically occurs near or upon achievement of the event. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2021. Royalties — The Company recognizes revenue from license arrangements with its commercial partners’ net sales of products. Such revenues are included as royalty income. In accordance with ASC 606-10-55-65, royalties are recognized when the subsequent sale of the commercial partner’s products occurs. The Company’s commercial partners are obligated to report their net product sales and the resulting royalty due to the Company typically within 60 days from the end of each quarter. Based on historical product sales, royalty receipts and other relevant information, the Company recognizes royalty income each quarter and subsequently determines a true-up when it receives royalty reports and payment from its commercial partners. Historically, these true-up adjustments have been immaterial. Sale of Future Royalties — The Company has sold its rights to receive certain royalties on product sales. In the circumstance where the Company has sold its rights to future royalties under a royalty purchase agreement and also maintains limited continuing involvement in the arrangement (but not significant continuing involvement in the generation of the cash flows that are due to the purchaser), the Company defers recognition of the proceeds it receives for the sale of royalty streams and recognizes such unearned revenue as revenue under the units-of-revenue method over the life of the underlying license agreement. Under the units-of-revenue method, amortization for a reporting period is calculated by computing a ratio of the proceeds received from the purchaser to the total payments expected to be made to the purchaser over the term of the agreement, and then applying that ratio to the period’s cash payment. Estimating the total payments expected to be received by the purchaser over the term of such arrangements requires management to use subjective estimates and assumptions. Changes to the Company’s estimate of the payments expected to be made to the purchaser over the term of such arrangements could have a material effect on the amount of revenues recognized in any particular period. Research Collaborations — The Company recognizes revenue over the term of the statements of work under any funded research collaborations. Revenue recognition for consideration, if any, related to a license option right is assessed based on the terms of any such future license agreement or is otherwise recognized at the completion of the research collaborations. Please refer to Note 3 for further details on the license and collaboration agreements into which the Company has entered and corresponding amounts of revenue recognized during the current and prior year periods. Cost of sales, excluding amortization of acquired intangible assets — Cost of sales, excluding amortization of acquired intangible assets, consist of costs associated with the manufacture of YUTIQ and DEXYCU, certain period costs, product shipping and, as applicable, royalty expense. The inventory costs for YUTIQ include purchases of various components, the active pharmaceutical ingredient (“API”) and internal labor and overhead for the product manufactured in the Company’s Watertown, MA facility. The inventory costs for DEXYCU include purchased components, the API and third-party manufacturing and assembly.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue From Contract With Customer [Abstract]
Disaggregation of Revenue	Net product revenues by product for the three and six months ended June 30, 2021 and 2020 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 YUTIQ (A) $ 4,166 $ 2,879 $ 7,196 $ 6,454 DEXYCU (B) 4,572 827 8,344 1,939 Total product sales, net $ 8,738 $ 3,706 $ 15,540 $ 8,393 (A) Included approximately $14,000 and $11,000 of revenue from YUTIQ product sales to Ocumension for the three months ended June 30, 2021 and 2020, respectively. Included approximately $19,000 and $11,000 of revenue from YUTIQ product sales to Ocumension for the six months ended June 30, 2021 and 2020, respectively. (B) No revenue was recognized from DEXYCU product sales to Ocumension for the three and six months ended June 30, 2021 and 2020.
Product Revenue Allowances and Reserves	The following table summarizes activity in each of the product revenue allowance and reserve categories for the six months ended June 30, 2021 and 2020, respectively (in thousands): Chargebacks, Discounts Government and Other and Fees Rebates Returns Total Beginning balance at January 1, 2021 $ 574 $ 535 $ 603 $ 1,712 Provision related to sales in the current year 2,932 1,965 497 5,394 Adjustments related to prior period sales (50 ) (22 ) (100 ) (172 ) Deductions applied and payments made (2,229 ) (1,121 ) (581 ) (3,931 ) Ending balance at June 30, 2021 $ 1,227 $ 1,357 $ 419 $ 3,003 Chargebacks, Discounts Government and Other and Fees Rebates Returns Total Beginning balance at January 1, 2020 $ 1,618 $ 271 $ 352 $ 2,241 Provision related to sales in the current year 864 247 436 1,547 Adjustments related to prior period sales (387 ) — 50 (337 ) Deductions applied and payments made (1,185 ) (400 ) (324 ) (1,909 ) Ending balance at June 30, 2020 $ 910 $ 118 $ 514 $ 1,542

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following (in thousands): June 30, 2021 December 31, 2020 Raw materials $ 3,135 $ 2,664 Work in process 153 747 Finished goods 2,093 1,926 Total inventory $ 5,381 $ 5,337

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Reconciliation of Intangible Assets	The reconciliation of intangible assets for the six months ended June 30, 2021 and 2020 was as follows (in thousands): June 30, June 30, 2021 2020 Patented technologies Gross carrying amount at beginning of period $ 68,322 $ 68,322 Gross carrying amount at end of period 68,322 68,322 Accumulated amortization at beginning of period (43,113 ) (40,653 ) Amortization expense (1,230 ) (1,230 ) Accumulated amortization at end of period (44,343 ) (41,883 ) Net book value at end of period $ 23,979 $ 26,439

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following at June 30, 2021 and December 31, 2020 (in thousands): June 30, December 31, 2021 2020 Personnel costs $ 3,457 $ 5,686 Clinical trial costs 259 — Professional fees 616 647 Sales chargebacks, rebates and other revenue reserves 2,584 1,109 Other 2,198 1,003 $ 9,114 $ 8,445

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases as of June 30, 2021 and December 31, 2020 are as follows (in thousands): June 30, December 31, 2021 2020 Other current liabilities - operating lease current portion $ 613 $ 568 Operating lease liabilities – noncurrent portion 2,013 2,330 Total operating lease liabilities $ 2,626 $ 2,898
Schedule of Supplemental Balance Sheet Information Related to Finance Lease	Supplemental balance sheet information related to the finance lease as of June 30, 2021 and December 31, 2020 are as follows (in thousands): June 30, December 31, 2021 2020 Property and equipment, at cost $ 239 $ 239 Accumulated amortization (115 ) (52 ) Property and equipment, net $ 124 $ 187 Other current liabilities – $ 95 $ 119 Other long-term liabilities 35 71 Total finance lease liabilities $ 130 $ 190
Future Minimum Lease Payments Under Non-Cancellable Leases	T he Company’s total future minimum lease payments under non-cancellable leases at June 30, 2021 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2021 $ 448 $ 65 2022 849 75 2023 815 — 2024 830 — 2025 346 — Total lease payments $ 3,288 $ 140 Less imputed interest (662 ) (10 ) Total $ 2,626 $ 130

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Summary of Reconciliation of Warrants to Purchase Common Stock	The following table provides a reconciliation of fixed price warrants to purchase shares of the Company’s common stock for the six months ended June 30, 2021 and 2020: Six Months Ended June 30, 2021 2020 Weighted Weighted Average Average Number of Exercise Number of Exercise Warrants Price Warrants Price Balance at beginning of period 48,683 $ 12.33 48,683 $ 12.33 Balance and exercisable at end of period 48,683 $ 12.33 48,683 $ 12.33

Share-Based Payment Awards (Tab

Share-Based Payment Awards (Tables)	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Option Activity Under Plan	The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans and for inducement awards for the six months ended June 30, 2021: Weighted Weighted Average Average Remaining Aggregate Number Exercise Contractual Intrinsic of Options Price Life Value (in years) (in thousands) Outstanding at January 1, 2021 1,338,880 $ 20.86 Granted 833,727 12.98 Exercised (827 ) 11.65 Forfeited (48,304 ) 17.31 Expired (23,666 ) 31.92 Outstanding at June 30, 2021 2,099,810 $ 17.69 8.05 $ 134 Exercisable at June 30, 2021 834,187 $ 23.42 6.35 $ 3
Schedule of Key Assumptions Used	In determining the grant date fair value of option awards during the six months ended June 30, 2021, the Company applied the Black-Scholes option pricing model based on the following key assumptions: Option life (in years) 4.75 - 6.08 Stock volatility 72.5% - 83.07% Risk-free interest rate 0.42% - 1.18% Expected dividends 0.0%
Summary of Information about Stock Options	The following table summarizes information about employee, non-executive director and external consultant stock options for the six months ended June 30, 2021 (in thousands): Six Months Ended June 30, 2021 Weighted-average grant date fair value per share $ 8.41 Total cash received from exercise of stock options 10 Total intrinsic value of stock options exercised 2
Summary of Restricted Stock Unit Activity	The following table provides a reconciliation of RSU activity under the 2016 Plan for the six months ended June 30, 2021: Weighted Number of Average Restricted Grant Date Stock Units Fair Value Nonvested at January 1, 2021 149,004 $ 13.85 Granted 227,141 13.06 Vested (80,909 ) 14.61 Forfeited (4,319 ) 11.72 Nonvested at June 30, 2021 290,917 $ 13.05
Compensation Expense from Stock-Based Payment Awards	The Company’s consolidated statements of comprehensive loss included total compensation expense from stock-based payment awards for the three and six months ended June 30, 2021 and 2020, respectively, as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Compensation expense included in: Research and development $ 255 $ (49 ) $ 518 $ 214 Sales and marketing 241 141 481 393 General and administrative 684 643 1,169 1,288 $ 1,180 $ 735 $ 2,168 $ 1,895

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Assets and Liabilities Carried at Fair Value Measured on Recurring Basis	The following tables summarize the Company’s assets carried at fair value measured on a recurring basis at June 30, 2021 and December 31, 2020 by valuation hierarchy (in thousands): June 30, 2021 Quoted prices in Significant other Significant Total Carrying active markets observable inputs unobservable inputs Description Value (Level 1) (Level 2) (Level 3) Assets: Cash equivalents $ 125,048 $ 125,048 $ — $ — $ 125,048 $ 125,048 $ — $ — December 31, 2020 Quoted prices in Significant other Significant Total Carrying active markets observable inputs unobservable inputs Description Value (Level 1) (Level 2) (Level 3) Assets: Cash equivalents $ 23,538 $ 23,538 $ — $ — $ 23,538 $ 23,538 $ — $ —

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares	Potential common stock equivalents excluded from the calculation of diluted earnings per share because the effect would have been anti-dilutive were as follows: Six Months Ended June 30, 2021 2020 Stock options 2,099,810 1,367,235 ESPP 10,793 9,742 Warrants 48,683 48,683 Restricted stock units 290,917 146,352 2,450,203 1,572,012

Operations - Additional Informa

Operations - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)Product_PeopleCase	Dec. 31, 2020USD ($)
Operations [Line Items]
Number of products approved | Product	4
Number of commercial products | Product	2
Cash and cash equivalents | $	$ 127,630	$ 44,909
YUTIQ [Member]
Operations [Line Items]
Number of new cases of blindness annually | Case	30,000
YUTIQ [Member] | Minimum [Member]
Operations [Line Items]
Number of people affected by posterior segment of eye in U.S. each year | _People	60,000
YUTIQ [Member] | Maximum [Member]
Operations [Line Items]
Number of people affected by posterior segment of eye in U.S. each year | _People	100,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	1 Months Ended			3 Months Ended		6 Months Ended
	Aug. 31, 2020	Feb. 29, 2020	Nov. 30, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Ocumension Therapeutics [Member]
Schedule Of Significant Accounting Policies [Line Items]
Receipt of upfront license fee	$ 9,500,000	$ 2,000,000	$ 1,750,000
Icon Bioscience Inc [Member] | Ocumension Therapeutics [Member]
Schedule Of Significant Accounting Policies [Line Items]
Receipt of upfront license fee		$ 2,000,000
DEXYCU [Member]
Schedule Of Significant Accounting Policies [Line Items]
Accrued revenue-based royalty expense				$ 648,000	$ 99,000	$ 1,100,000	$ 616,000
DEXYCU [Member] | Icon Bioscience Inc [Member]
Schedule Of Significant Accounting Policies [Line Items]
Accrued revenue-based royalty expense						$ 0	$ 400,000
Percentage of earn-out payment received		20.00%

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenues		$ 9,013	$ 4,122	$ 16,336	$ 11,611
YUTIQ [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenues	[1]	4,166	2,879	7,196	6,454
DEXYCU [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenues	[2]	4,572	827	8,344	1,939
Product [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenues		$ 8,738	$ 3,706	$ 15,540	$ 8,393
[1]	Included approximately $14,000 and $11,000 of revenue from YUTIQ product sales to Ocumension for the three months ended June 30, 2021 and 2020, respectively. Included approximately $19,000 and $11,000 of revenue from YUTIQ product sales to Ocumension for the six months ended June 30, 2021 and 2020, respectively.
[2]	No revenue was recognized from DEXYCU product sales to Ocumension for the three and six months ended June 30, 2021 and 2020.

Revenue - Disaggregation of R_2

Revenue - Disaggregation of Revenue (Parenthetical) (Detail) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Total revenues		$ 9,013,000	$ 4,122,000	$ 16,336,000	$ 11,611,000
YUTIQ [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Total revenues	[1]	4,166,000	2,879,000	7,196,000	6,454,000
YUTIQ [Member] | Ocumension Therapeutics [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Total revenues		14,000	11,000	19,000	11,000
DEXYCU [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Total revenues	[2]	4,572,000	827,000	8,344,000	1,939,000
DEXYCU [Member] | Ocumension Therapeutics [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Total revenues		$ 0	$ 0	$ 0	$ 0
[1]	Included approximately $14,000 and $11,000 of revenue from YUTIQ product sales to Ocumension for the three months ended June 30, 2021 and 2020, respectively. Included approximately $19,000 and $11,000 of revenue from YUTIQ product sales to Ocumension for the six months ended June 30, 2021 and 2020, respectively.
[2]	No revenue was recognized from DEXYCU product sales to Ocumension for the three and six months ended June 30, 2021 and 2020.

Revenue - Product Revenue Allow

Revenue - Product Revenue Allowance and Reserves (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Product Revenue Reserves And Allowances [Line Items]
Beginning balance	$ 1,712	$ 2,241
Provision related to sales in the current year	5,394	1,547
Adjustments related to prior period sales	(172)	(337)
Deductions applied and payments made	(3,931)	(1,909)
Ending balance	3,003	1,542
Chargebacks, Discounts and Fees [Member]
Disclosure Of Product Revenue Reserves And Allowances [Line Items]
Beginning balance	574	1,618
Provision related to sales in the current year	2,932	864
Adjustments related to prior period sales	(50)	(387)
Deductions applied and payments made	(2,229)	(1,185)
Ending balance	1,227	910
Government and Other Rebates [Member]
Disclosure Of Product Revenue Reserves And Allowances [Line Items]
Beginning balance	535	271
Provision related to sales in the current year	1,965	247
Adjustments related to prior period sales	(22)
Deductions applied and payments made	(1,121)	(400)
Ending balance	1,357	118
Returns [Member]
Disclosure Of Product Revenue Reserves And Allowances [Line Items]
Beginning balance	603	352
Provision related to sales in the current year	497	436
Adjustments related to prior period sales	(100)	50
Deductions applied and payments made	(581)	(324)
Ending balance	$ 419	$ 514

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($)	Dec. 31, 2020	Dec. 17, 2020	Aug. 31, 2020	Feb. 29, 2020	Jan. 31, 2020	Aug. 31, 2019	Mar. 31, 2019	Nov. 30, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									$ 9,013,000	$ 4,122,000	$ 16,336,000	$ 11,611,000
Icon Bioscience Inc [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Accrued sales-based royalty expense									0	0	$ 0	400,000
Percentage of upfront payment received											20.00%
Amended Alimera Science Inc Agreement [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									2,000	386,000	$ 15,000	1,200,000
Ocumension Therapeutics [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Receipt of upfront license fee			$ 9,500,000	$ 2,000,000				$ 1,750,000
Potential future payments based on achievement of development and regulatory milestones					$ 6,000,000			7,250,000
Potential future payments based on achievement of commercial-based milestones					$ 6,000,000			$ 3,000,000
Development milestone payment received						$ 1,000,000
Potential future payments based on achievement of combined remaining development and sales milestone extinguished			11,750,000
Potential future payments extinguished upon achievement of prescribed remaining development and regulatory milestone			6,250,000
Potential future payments extinguished upon achievement of prescribed remaining commercial sales based milestones			3,000,000
Potential future payments extinguished upon achievement of prescribed development and regulatory milestones			6,000,000
Potential future payments extinguished upon achievement of prescribed commercial sales based milestone			6,000,000
Ocumension Therapeutics [Member] | Icon Bioscience Inc [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Receipt of upfront license fee				$ 2,000,000
Ocumension Therapeutics [Member] | Share Offering [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Issuance of stock, net of issue costs, shares	3,010,722
Ocumension Therapeutics [Member] | Maximum [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Product supply milestones and development milestones							$ 7,250,000
Upon achievement of milestones			$ 21,250,000
Royalty Income [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									181,000	381,000	361,000	1,163,000
Royalty Income [Member] | Amended Alimera Science Inc Agreement [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									0	381,000	0	1,200,000
RPA [Member] | SWK [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									181,000	0	361,000	0
Upfront cash payment		$ 16,500,000
Deferred revenue		$ 16,500,000
Royalty payments									583,000		1,200,000
Royalty Sale Agreement | SWK [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Deferred revenue, current	$ 885,000								1,000,000		1,000,000
Deferred revenue, non-current	15,600,000								15,100,000		15,100,000
Technical Assistance [Member] | Ocumension Therapeutics [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									91,000	0	360,000	360,000
License and Collaboration Agreement [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									94,000	35,000	435,000	2,055,000
License and Collaboration Agreement [Member] | Ocumension Therapeutics [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue											2,000,000	2,000,000
Product [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									8,738,000	3,706,000	15,540,000	8,393,000
Collaborative Research and Development [Member]
Disclosure of Product Revenue Reserves and Allowances [Line Items]
Revenue									0	$ 0	60,000	$ 15,000
Deferred revenue	$ 60,000								$ 0		$ 0

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 3,135	$ 2,664
Work in process	153	747
Finished goods	2,093	1,926
Total inventory	$ 5,381	$ 5,337

Intangible Assets - Reconciliat

Intangible Assets - Reconciliation of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Gross carrying amount at beginning of period			$ 68,322	$ 68,322
Gross carrying amount at end of period	$ 68,322	$ 68,322	68,322	68,322
Accumulated amortization at beginning of period			(43,113)	(40,653)
Amortization expense	(615)	(615)	(1,230)	(1,230)
Accumulated amortization at end of period	(44,343)	(41,883)	(44,343)	(41,883)
Net book value at end of period	$ 23,979	$ 26,439	$ 23,979	$ 26,439	$ 25,209

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 615	$ 615	$ 1,230	$ 1,230
DEXYCU [Member] | Icon Bioscience Inc [Member]
Finite Lived Intangible Assets [Line Items]
Annual amortization expense	$ 2,500		$ 2,500
Finite-lived intangible asset, useful life			9 years 9 months

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Personnel costs	$ 3,457	$ 5,686
Clinical trial costs	259	0
Professional fees	616	647
Sales chargebacks, rebates and other revenue reserves	2,584	1,109
Other	2,198	1,003
Accrued expenses	$ 9,114	$ 8,445

Leases - Additional Information

Leases - Additional Information (Detail)	Apr. 05, 2021ft²	Jun. 30, 2018ft²	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)ft²	Jun. 30, 2021USD ($)ft²TrancheLease	Jun. 30, 2020USD ($)
Disclosure Of Leases [Line Items]
Loan facility term						5 years
Operating lease weighted average remaining lease term			3 years 9 months 18 days			3 years 9 months 18 days
Operating lease weighted average discount rate			12.50%			12.50%
Operating lease expense			$ 213,000	$ 213,000		$ 427,000	$ 427,000
Variable lease cost			9,000	9,000		18,000	18,000
Operating lease payments			221,000	215,000		$ 442,000	430,000
Number of finance leases | Lease						2
Finance lease, amortization expense of ROU asset			30,000	13,000		$ 62,000	27,000
Interest expense on finance lease liability			4,000	2,000		10,000	5,000
Finance lease, operating cash flows			4,000	2,000		10,000	4,000
Finance lease, financing cash flows			$ 29,000	$ 12,000		$ 58,000	$ 20,000
Finance lease, weighted average Remaining term			1 year 3 months 18 days			1 year 3 months 18 days
Finance lease, weighted average discount rate, percent			12.50%			12.50%
Caladrius [Member]
Disclosure Of Leases [Line Items]
Additional subleased property office area | ft²		1,381
Basking Ridge Office Space [Member]
Disclosure Of Leases [Line Items]
Number of renewal options | Tranche						2
First Lab Equipment [Member]
Disclosure Of Leases [Line Items]
Lease expiration month year						2021-12
Second Lab Equipment [Member]
Disclosure Of Leases [Line Items]
Lease expiration month year						2022-12
Massachusetts [Member] | Maximum [Member]
Disclosure Of Leases [Line Items]
Construction allowance					$ 670,750
Massachusetts [Member] | Original Lease [Member]
Disclosure Of Leases [Line Items]
Area of leased office and laboratory space | ft²					13,650
Original lease term					5 years
Lease expiration month year					2019-04
Massachusetts [Member] | Second Amendment Lease [Member]
Disclosure Of Leases [Line Items]
Lease commencement date					Sep. 10, 2018
Additional lease renewal option period					5 years
Lease term expiration date					May 31, 2025
Additional Space leased | ft²					6,590
Irrevocable standby letter of credit					$ 150,000
Massachusetts [Member] | Third Amendment Lease [Member]
Disclosure Of Leases [Line Items]
Area of leased office and laboratory space | ft²	1,409
Lease commencement date	Jul. 1, 2021
Lease term expiration date					May 31, 2025
NEW JERSEY | Basking Ridge Office Space [Member]
Disclosure Of Leases [Line Items]
Lease expiration month year						2022-06
Additional lease renewal option period			5 years			5 years
Area of leased office space | ft²						3,000
Lease inception month year						2017-07
Lease renewal rate at 95% of market rent at time of renewal						95.00%

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Related to Operating Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Other current liabilities - operating lease current portion	$ 613	$ 568
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Operating lease liabilities - noncurrent	$ 2,013	$ 2,330
Total operating lease liabilities	$ 2,626	$ 2,898

Leases - Supplemental Balance_2

Leases - Supplemental Balance Sheet Related to Finance Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Property and equipment, at cost	$ 239	$ 239
Accumulated amortization	(115)	(52)
Property and equipment, net	124	187
Other current liabilities – finance lease current portion	$ 95	$ 119
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Other long-term liabilities	$ 35	$ 71
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Total finance lease liabilities	$ 130	$ 190

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Under Non-Cancellable Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Operating Leases
Remainder of 2021	$ 448
2022	849
2023	815
2024	830
2025	346
Total future minimum lease payments	3,288
Less imputed interest	(662)
Total	2,626	$ 2,898
Finance Leases
Remainder of 2021	65
2022	75
2023	0
2024	0
2025	0
Total future minimum lease payments	140
Less imputed interest	(10)
Total	$ 130	$ 190

Loan Agreements - Additional In

Loan Agreements - Additional Information (Detail) - USD ($)

Jun. 16, 2021

Dec. 17, 2020

Apr. 22, 2020

Feb. 13, 2019

May 31, 2021

Oct. 31, 2020

Jun. 30, 2021

Jun. 30, 2020

Mar. 31, 2020

Jun. 30, 2021

Jun. 30, 2020

Dec. 31, 2020

Apr. 08, 2020

Apr. 30, 2019

Term Loan Agreement [Line Items]

Gain (loss) on extinguishment of debt

$ 2,065,000

$ 0

$ 2,065,000

$ 0

RPA [Member] | SWK Funding LLC [Member]

Term Loan Agreement [Line Items]

Upfront cash payment

$ 16,500,000

Senior Secured Term Loan [Member]

Term Loan Agreement [Line Items]

Amortization of debt discount (premium)

153,000

$ 177,000

$ 300,000

$ 348,000

CRG Servicing LLC [Member]

Term Loan Agreement [Line Items]

Restriction of the right to capitalize a portion of quarterly interest in the event of a loan default

So long as no default has occurred and is continuing, the Company may elect on each applicable interest payment date to pay 2.5% of the 12.5% per annum interest as Paid In-Kind (“PIK”), whereby such PIK amount would be added to the aggregate principal amount and accrue interest at 12.5% per annum.

Upfront loan origination fee percentage

1.50%

Minimum liquidity amount

$ 5,000,000

Total debt discount

3,200,000

CRG Servicing LLC [Member] | Period One [Member]

Term Loan Agreement [Line Items]

Annual minimum product revenue

15,000,000

Annual minimum product revenue period

on January 1, 2019 and ending on December 31, 2019

CRG Servicing LLC [Member] | Period Two [Member]

Term Loan Agreement [Line Items]

Annual minimum product revenue

45,000,000

Annual minimum product revenue period

January 1, 2020 and ending on December 31, 2020

CRG Servicing LLC [Member] | Period Three [Member]

Term Loan Agreement [Line Items]

Annual minimum product revenue

80,000,000

$ 25,000,000

$ 45,000,000

Annual minimum product revenue period

January 1, 2021 and ending on December 31, 2021

Incremental charges for issuance of waivers

$ 0

CRG Servicing LLC [Member] | Period Four [Member]

Term Loan Agreement [Line Items]

Annual minimum product revenue

$ 90,000,000

Annual minimum product revenue period

January 1, 2022 and ending on December 31, 2022

CRG Servicing LLC [Member] | Loan Prepayment Prior to December 31, 2019 [Member]

Term Loan Agreement [Line Items]

Principal prepayment premium percentage

10.00%

CRG Servicing LLC [Member] | Loan Prepayment after December 31, 2019 and Prior to December 31, 2020 [Member]

Term Loan Agreement [Line Items]

Principal prepayment premium percentage

5.00%

CRG Servicing LLC [Member] | Loan prepayment after December 31, 2020 and prior to December 31, 2021 [Member]

Term Loan Agreement [Line Items]

Principal prepayment premium percentage

3.00%

CRG Servicing LLC [Member] | Loan prepayment after December 31 2021 [Member]

Term Loan Agreement [Line Items]

Principal prepayment premium percentage

0.00%

CRG Servicing LLC [Member] | Senior Secured Term Loan [Member]

Term Loan Agreement [Line Items]

Annual interest rate on term loan balance

12.50%

Gain (loss) on extinguishment of debt

$ (905,000)

Agreement date

Feb. 13, 2019

Senior secured term loan borrowing facility

$ 60,000,000

Term loan agreement, initial advance

$ 35,000,000

Proceeds from issuance of long-term debt

$ 0

Maturity date

Dec. 31, 2023

Paid in Kind Interest Added to Principal

0

$ 0

Exit fee percentage payable upon repayment of the total secured term loan

6.00%

Upfront loan original fee payment, initial advance

$ 525,000

Reimbursement of lender's legal fees and other transaction costs

350,000

Exit fee accrued

2,100,000

Line of credit facility, legal and other transaction costs

591,000

Repayment of senior secured term loan

13,800,000

Payment of exit fee upon repayment of secured term loan

828,000

Payment of accrued and unpaid interest through the date of the secured term loan refinancing

378,000

CRG Servicing LLC [Member] | Senior Secured Term Loan [Member] | RPA [Member] | SWK Funding LLC [Member]

Term Loan Agreement [Line Items]

Upfront cash payment

$ 15,000,000

CRG Servicing LLC [Member] | Second Advance [Member]

Term Loan Agreement [Line Items]

Term loan agreement, additional loan advance

$ 15,000,000

Total debt discount

$ 1,100,000

CRG Servicing LLC [Member] | Second Advance [Member] | Senior Secured Term Loan [Member]

Term Loan Agreement [Line Items]

One-time upfront financing fee percentage applied to borrowing amounts under the line of credit facility

1.50%

Upfront loan original fee payment, initial advance

$ 225,000

Exit fee accrued

$ 900,000

CRG Servicing LLC [Member] | Initial Advance [Member] | Senior Secured Term Loan [Member]

Term Loan Agreement [Line Items]

One-time upfront financing fee percentage applied to borrowing amounts under the line of credit facility

1.50%

Upfront loan original fee payment, initial advance

$ 525,000

Paycheck Protection Program Loan [Member] | Silicon Valley Bank [Member] | CARES Act [Member]

Term Loan Agreement [Line Items]

Loan amount

$ 2,000,000

Loan proceeds date

Apr. 22, 2020

Annual interest rate on term loan balance

1.00%

Debt instrument term

2 years

Debt instrument, maturity date

Apr. 21, 2022

Debt Instrument Description

The Paycheck Protection Program Flexibility Act of 2020 (the “PPP Flexibility Act”), enacted on June 5, 2020, amended the Paycheck Protection Program, among others, as follows: (i) extended the covered period from 8 weeks to the earlier of 24 weeks from the date the PPP Loan is originated and December 31, 2020, during which PPP funds needed to be expended in order to be forgiven. A borrower may submit a loan forgiveness application any time on or before the maturity date of the loan – including before the end of the covered period – if the borrower has used all of the loan proceeds for which the borrower is requesting forgiveness; (ii) at least 60% of PPP funds must be spent on payroll costs, with the remaining 40% available to spend on other eligible expenses; (iii) payments are deferred until the date on which the amount of forgiveness determined is remitted to the lender. If a borrower fails to seek forgiveness within 10 months after the last day of its covered period, then payments will begin on the date that is 10 months after the last day of the covered period. In addition, the PPP Flexibility Act modified the CARES Act by increasing the maturity date for loans made after the effective date from two years to a minimum maturity of five years from the date on which the borrower applies for loan forgiveness. Existing PPP loans made before the new legislation retain their original two-year term, but may be renegotiated between a lender and a borrower to match the 5-year term permitted under the PPP Flexibility Act.

Debt instrument, loan forgiveness amount

$ 2,000,000

Debt instrument, accrued interest forgiveness amount

$ 24,000

Gain (loss) on extinguishment of debt

$ 2,100,000

$ 2,100,000

Stockholders' Equity - 2021 Equ

Stockholders' Equity - 2021 Equity Financings - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended	6 Months Ended
	Feb. 28, 2021	Aug. 31, 2020	Jun. 30, 2021	Jun. 30, 2021
2021 Equity Financing [Member] | Share Offering [Member]
Class Of Stock [Line Items]
Common stock issued	10,465,000
Price per share	$ 11
Common stock, additional shares issued	1,365,000
Gross proceeds from issuance of common stock	$ 115,100,000
Share issuance costs	$ 7,200,000
At-the-Market Offering [Member]
Class Of Stock [Line Items]
Common stock issued			0	48,538
Price per share			$ 11.37	$ 11.37
Gross proceeds from issuance of common stock				$ 552,000
Share issuance costs				$ 53,000
Common stock shares maximum aggregate offering price		$ 25,000,000
Stock issuances, sales agent commission maximum percentage		3.00%

Stockholders' Equity - 2020 Equ

Stockholders' Equity - 2020 Equity Financing - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Feb. 29, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 23, 2020	Jun. 22, 2020
Class Of Stock [Line Items]
Common stock, shares authorized		300,000,000	300,000,000	300,000,000
2020 Equity Financing [Member]
Class Of Stock [Line Items]
Common stock, shares authorized					150,000,000
2020 Equity Financing [Member] | Share Offering [Member]
Class Of Stock [Line Items]
Common stock issued	1,500,000
Price per share	$ 14.50
Gross proceeds from issuance of common stock	$ 21,750
Share issuance costs	$ 1,800

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Reconciliation of Warrants to Purchase Share of the Company's Common Stock (Detail) - $ / shares	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Stockholders Equity Note [Abstract]
Number of Warrants, Outstanding and exercisable, Beginning balance	48,683	48,683	48,683
Number of Warrants, Outstanding and exercisable, Ending balance	48,683	48,683	48,683
Weighted Average Exercise Price, Outstanding and exercisable, Beginning balance	$ 12.33	$ 12.33	$ 12.33
Weighted Average Exercise Price, Outstanding and exercisable, Ending balance	$ 12.33	$ 12.33	$ 12.33

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants to Purchase Common Shares - Additional Information (Detail) - Warrants [Member] - SWK [Member] - $ / shares	Jun. 26, 2018	Mar. 28, 2018	Jun. 30, 2021
Senior Secured Term Loan [Member]
Class Of Stock [Line Items]
Warrants issued to purchase shares of common stock	7,773	40,910
Exercise price of issued warrants	$ 19.30	$ 11
Warrants exercise period	7 years	7 years
Investor [Member]
Class Of Stock [Line Items]
Weighted average remaining life of lender warrants			3 years 9 months 18 days

Share-Based Payment Awards - Eq

Share-Based Payment Awards - Equity Incentive Plan - Additional Information (Detail) - 2016 Long Term Incentive Plan [Member] - shares	Jun. 30, 2021	Jun. 22, 2021	Jun. 25, 2019	Dec. 12, 2016
Class Of Stock [Line Items]
Number of common stock, authorized for issuance		2,500,000	1,100,000	300,000
Shares available for grant under the Long Term Incentive Plan, including forfeited and terminated awards transferred from the 2008 Incentive Plan	2,118,067

Share-Based Payment Awards - St

Share-Based Payment Awards - Stock Option Activity Under Company's Equity Incentive Plan (Detail) - Equity Incentive Plans and Inducement Awards [Member] $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding, Beginning balance | shares	1,338,880
Number of Options, Granted | shares	833,727
Number of Options, Exercised | shares	(827)
Number of Options, Forfeited | shares	(48,304)
Number of Options, Expired | shares	(23,666)
Number of Options Outstanding, Ending balance | shares	2,099,810
Number of Options, Exercisable at June 30, 2021 | shares	834,187
Weighted Average Exercise Price Outstanding, Beginning balance | $ / shares	$ 20.86
Weighted Average Exercise Price, Granted | $ / shares	12.98
Weighted Average Exercise Price, Exercised | $ / shares	11.65
Weighted Average Exercise Price, Forfeited | $ / shares	17.31
Weighted Average Exercise Price, Expired | $ / shares	31.92
Weighted Average Exercise Price Outstanding, Ending balance | $ / shares	17.69
Weighted Average Exercise Price, Exercisable at June 30, 2021 | $ / shares	$ 23.42
Weighted Average Remaining Contractual Life, Outstanding at June 30, 2021	8 years 18 days
Weighted Average Remaining Contractual Life, Exercisable at June 30, 2021	6 years 4 months 6 days
Aggregate Intrinsic Value, Outstanding at June 30, 2021 | $	$ 134
Aggregate Intrinsic Value, Exercisable at June 30, 2021 | $	$ 3

Share-Based Payment Awards - _2

Share-Based Payment Awards - Stock Options - Additional Information (Detail) - shares	1 Months Ended	5 Months Ended	6 Months Ended
	Jan. 31, 2019	Jun. 30, 2021	Jun. 30, 2021
2016 Long Term Incentive Plan [Member]
Class Of Stock [Line Items]
Ratable monthly vesting period	4 years
Ceased ratable monthly vesting period		4 years
Contractual life of option grants	10 years
Stock Compensation Plan [Member]
Class Of Stock [Line Items]
Ratable monthly vesting period	1 year	1 year
Cliff vesting period	3 years	3 years
Common stock vested during the period			170,283
Newly Appointed Non Executive Director [Member]
Class Of Stock [Line Items]
Ratable annual vesting period	3 years
External consultant [Member]
Class Of Stock [Line Items]
Cliff vesting period	1 year

Share-Based Payment Awards - Su

Share-Based Payment Awards - Summary of Company Applied the Black-Scholes Option Pricing (Detail) - 2016 Long Term Incentive Plan [Member]	6 Months Ended
	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock volatility, minimum	72.50%
Stock volatility, maximum	83.07%
Risk-free interest rate, minimum	0.42%
Risk-free interest rate, maximum	1.18%
Expected dividends	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option life (in years)	4 years 9 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option life (in years)	6 years 29 days

Share-Based Payment Awards - _3

Share-Based Payment Awards - Summary of Information about Stock Options (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Total cash received from exercise of stock options	$ 183	$ 187
Equity Incentive Plans [Member]
Weighted-average grant date fair value per share	$ 8.41
Total cash received from exercise of stock options	$ 10
Total intrinsic value of stock options exercised	$ 2

Share-Based Payment Awards - Ti

Share-Based Payment Awards - Time-Vested Restricted Stock Units - Additional Information (Detail) - 2016 Long Term Incentive Plan [Member]	1 Months Ended	6 Months Ended
	Jan. 31, 2019	Jun. 30, 2021
Class Of Stock [Line Items]
Ratable annual vesting period of equity awards	4 years
RSU [Member]
Class Of Stock [Line Items]
Ratable annual vesting period of equity awards		3 years
Weighted average remaining vesting term		1 year 6 months 3 days

Share-Based Payment Awards - _4

Share-Based Payment Awards - Summary of Restricted Stock Unit Activity (Detail) - 2016 Long Term Incentive Plan [Member] - RSU [Member]	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Stock Units Outstanding, Beginning Balance | shares	149,004
Number of stock units, Granted | shares	227,141
Number of Stock Units, Vested | shares	(80,909)
Number of Stock Units, Forfeited | shares	(4,319)
Number of Stock Units Outstanding, Ending Balance | shares	290,917
Weighted Average Grant Date Fair Value Nonvested, Beginning balance | $ / shares	$ 13.85
Weighted average grant date fair value, Granted | $ / shares	13.06
Weighted Average Grant Date Fair value, Vested | $ / shares	14.61
Weighted Average Grant Date Fair value, Forfeited | $ / shares	11.72
Weighted Average Grant Date Fair Value Nonvested, Ending balance | $ / shares	$ 13.05

Share-Based Payment Awards - De

Share-Based Payment Awards - Deferred Stock Units - Additional Information (Detail) - shares	1 Months Ended	6 Months Ended
	Jan. 31, 2019	Jun. 30, 2021	Dec. 31, 2020
2016 Long Term Incentive Plan [Member]
Class Of Stock [Line Items]
Ratable annual vesting period of equity awards	4 years
Non Executive Directors [Member]
Class Of Stock [Line Items]
Non-vested deferred stock units outstanding		0	0
Deferred Stock Units [Member]
Class Of Stock [Line Items]
Ratable annual vesting period of equity awards		1 year
Deferred Stock Units [Member] | 2016 Long Term Incentive Plan [Member]
Class Of Stock [Line Items]
Vested deferred stock units vested		0

Share-Based Payment Awards - Em

Share-Based Payment Awards - Employee Stock Purchase Plan - Additional Information (Detail) - USD ($)	Jun. 25, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 22, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Employee stock purchase plan		$ 173,000	$ 187,000
Common stock, shares issued		28,754,192			18,139,981
Employee Stock Purchase Plan [Member]
Class Of Stock [Line Items]
Number of common stock, authorized for issuance	110,000			250,000
Price of common stock purchased twice a year under ESPP, percent	85.00%
Employee stock purchase plan	$ 25,000
Employee stock purchase plan, shares	5,000
Consecutive six month offering period	Aug. 1, 2019
Common stock, shares issued		27,713

Share-Based Payment Awards - Co

Share-Based Payment Awards - Compensation Expense from Stock-Based Payment Awards (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 1,180	$ 735	$ 2,168	$ 1,895
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	255	(49)	518	214
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	241	141	481	393
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 684	$ 643	$ 1,169	$ 1,288

Share-Based Payment Awards - _5

Share-Based Payment Awards - Stock-Based Compensation Expense - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Unrecognized compensation expense	$ 10.7
Unrecognized compensation expense weighted average period	1 year 7 months 20 days

License Agreement - Additional

License Agreement - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 29, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Collaborative Agreements And Contracts [Line Items]
R&D expense		$ 5,605,000	$ 3,276,000	$ 11,084,000	$ 8,129,000
Equinox Science, LLC [Member]
Collaborative Agreements And Contracts [Line Items]
Non-refundable and non-creditable upfront cash payment	$ 1,000,000
R&D expense		$ 0	$ 0	$ 0	$ 1,000,000
Equinox Science, LLC [Member] | Maximum [Member]
Collaborative Agreements And Contracts [Line Items]
Payment upon achievement of development and regulatory milestones	$ 50,000,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Carried at Fair Value Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Cash equivalents	$ 125,048	$ 23,538
Total cash equivalents	125,048	23,538
Quoted Prices in Active Markets (Level 1) [Member]
Assets:
Cash equivalents	125,048	23,538
Total cash equivalents	125,048	23,538
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Cash equivalents	0	0
Total cash equivalents	0	0
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Cash equivalents	0	0
Total cash equivalents	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - CRG Servicing LLC [Member] - Senior Secured Term Loan [Member] - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Feb. 13, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of loan	$ 38.5	$ 38.3
long-term debt	36.2	36
Exit fee accrued			$ 2.1
Fair value of loan	38.4	38
Other Long-term Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exit fee accrued	$ 2.3	$ 2.3

Net Loss per Share - Potentiall

Net Loss per Share - Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares (Detail) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	2,450,203	1,572,012
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	2,099,810	1,367,235
ESPP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	10,793	9,742
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	48,683	48,683
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents outstanding excluded from diluted earnings per share calculation	290,917	146,352