Aldeyra Therapeutics (ALDX) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 07, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	ALDX
Entity Registrant Name	ALDEYRA THERAPEUTICS, INC.
Entity Central Index Key	0001341235
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		27,952,937
Entity Current Reporting Status	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.001 par value per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity File Number	001-36332
Entity Tax Identification Number	20-1968197
Entity Address, Address Line One	131 Hartwell Avenue
Entity Address, Address Line Two	Suite 320
Entity Address, City or Town	Lexington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02421
City Area Code	(781)
Local Phone Number	761-4904
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 25,604,203	$ 3,357,472
Cash equivalent - Reverse Repurchase Agreements	26,000,000	44,000,000
Marketable securities	24,567,074	46,242,220
Prepaid expenses and other current assets	849,087	1,169,594
Total current assets	77,020,364	94,769,286
Deferred offering costs		86,644
Right-of-use assets	248,165
Fixed assets, net	172,470	235,225
Total assets	77,440,999	95,091,155
Current liabilities:
Accounts payable	572,363	3,051,678
Accrued expenses	11,324,963	5,421,498
Current portion of operating lease liabilities	218,953
Total current liabilities	12,116,279	8,473,176
Non-current liabilities:
Long-term debt	14,386,706
Operating lease liabilities, net of current portion	58,720
Total liabilities	26,561,705	8,473,176
Commitments and contingencies (Notes 14 and 15)
Stockholders' equity:
Common stock, voting, $0.001 par value; 150,000,000 authorized and 27,151,775 and 26,244,435 shares issued and outstanding, respectively	27,152	26,244
Additional paid-in capital	237,047,752	225,136,127
Accumulated other comprehensive income (loss)	5,766	(9,224)
Accumulated deficit	(186,201,376)	(138,535,168)
Total stockholders’ equity	50,879,294	86,617,979
Total liabilities and stockholders’ equity	$ 77,440,999	$ 95,091,155

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	27,151,775	26,244,435
Common stock, shares outstanding	27,151,775	26,244,435

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating expenses:
Research and development	$ 16,223,972	$ 7,880,822	$ 34,737,420	$ 21,274,032
Acquired in-process research and development	(47,102)		6,500,602
General and administrative	2,839,319	3,065,912	8,940,771	7,330,142
Loss from operations	(19,016,189)	(10,946,734)	(50,178,793)	(28,604,174)
Other income (expense):
Interest income	330,329	163,015	1,262,378	427,361
Interest expense	(29,154)	(28,846)	(59,766)	(83,248)
Total other income (expense), net	301,175	134,169	1,202,612	344,113
Loss before income taxes	(18,715,014)	(10,812,565)	(48,976,181)	(28,260,061)
Income tax benefit			1,309,973
Net loss	$ (18,715,014)	$ (10,812,565)	$ (47,666,208)	$ (28,260,061)
Net loss per share - basic and diluted	$ (0.69)	$ (0.52)	$ (1.77)	$ (1.40)
Weighted average common shares outstanding - basic and diluted	27,111,600	20,969,913	26,928,725	20,168,633

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (18,715,014)	$ (10,812,565)	$ (47,666,208)	$ (28,260,061)
Other comprehensive (loss) income:
Unrealized (loss) gain on marketable securities, net of tax	(7,687)	(2,637)	14,990	12,635
Total other comprehensive (loss) income	(7,687)	(2,637)	14,990	12,635
Comprehensive loss	$ (18,722,701)	$ (10,815,202)	$ (47,651,218)	$ (28,247,426)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Helio Vision, Inc [Member]	Common Voting Stock [Member]	Common Voting Stock [Member]Helio Vision, Inc [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Helio Vision, Inc [Member]	Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2017	$ 39,601,019		$ 19,138		$ 139,241,635		$ (17,831)	$ (99,641,923)
Beginning Balance, Shares at Dec. 31, 2017			19,137,639
Stock-based compensation	3,126,920				3,126,920
Issuance of common stock, net of issuance costs	14,028,981		$ 1,796		14,027,185
Issuance of common stock, net of issuance costs, Shares			1,796,306
Issuance of common stock, employee stock purchase plan	85,573		$ 14		85,559
Issuance of common stock, employee stock purchase plan, Shares			14,382
Issuance of common stock, vested restricted stock awards			$ 41		(41)
Issuance of common stock, vested restricted stock awards, shares			40,975
Other comprehensive income (loss)	12,635						12,635
Net loss	(28,260,061)							(28,260,061)
Ending Balance at Sep. 30, 2018	28,595,067		$ 20,989		156,481,258		(5,196)	(127,901,984)
Ending Balance, Shares at Sep. 30, 2018			20,989,302
Beginning Balance at Jun. 30, 2018	36,980,597		$ 20,842		154,051,733		(2,559)	(117,089,419)
Beginning Balance, Shares at Jun. 30, 2018			20,842,198
Stock-based compensation	1,273,720				1,273,720
Issuance of common stock, net of issuance costs	1,070,379		$ 133		1,070,246
Issuance of common stock, net of issuance costs, Shares			132,722
Issuance of common stock, employee stock purchase plan	85,573		$ 14		85,559
Issuance of common stock, employee stock purchase plan, Shares			14,382
Other comprehensive income (loss)	(2,637)						(2,637)
Net loss	(10,812,565)							(10,812,565)
Ending Balance at Sep. 30, 2018	28,595,067		$ 20,989		156,481,258		(5,196)	(127,901,984)
Ending Balance, Shares at Sep. 30, 2018			20,989,302
Beginning Balance at Dec. 31, 2018	86,617,979		$ 26,244		225,136,127		(9,224)	(138,535,168)
Beginning Balance, Shares at Dec. 31, 2018			26,244,435
Stock-based compensation	6,133,990				6,133,990
Issuance of common stock, acquisition of Helio Vision, Inc.		$ 4,862,731		$ 724		$ 4,862,007
Issuance of common stock, acquisition of Helio Vision, inc., Shares				724,518
Issuance of common stock, net of issuance costs	720,964		$ 84		720,880
Issuance of common stock, net of issuance costs, Shares			83,557
Issuance of common stock, employee stock purchase plan	194,848		$ 35		194,813
Issuance of common stock, employee stock purchase plan, Shares			34,253
Issuance of common stock, vested restricted stock awards			$ 65		(65)
Issuance of common stock, vested restricted stock awards, shares			65,012
Other comprehensive income (loss)	14,990						14,990
Net loss	(47,666,208)							(47,666,208)
Ending Balance at Sep. 30, 2019	50,879,294		$ 27,152		237,047,752		5,766	(186,201,376)
Ending Balance, Shares at Sep. 30, 2019			27,151,775
Beginning Balance at Jun. 30, 2019	67,333,370		$ 26,987		234,779,291		13,453	(167,486,361)
Beginning Balance, Shares at Jun. 30, 2019			26,986,936
Stock-based compensation	2,152,938				2,152,938
Issuance of common stock, acquisition of Helio Vision, Inc.				$ 142		$ (142)
Issuance of common stock, acquisition of Helio Vision, inc., Shares				142,155
Issuance of common stock, employee stock purchase plan	115,688		$ 23		115,665
Issuance of common stock, employee stock purchase plan, Shares			22,684
Other comprehensive income (loss)	(7,687)						(7,687)
Net loss	(18,715,015)							(18,715,015)
Ending Balance at Sep. 30, 2019	$ 50,879,294		$ 27,152		$ 237,047,752		$ 5,766	$ (186,201,376)
Ending Balance, Shares at Sep. 30, 2019			27,151,775

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (47,666,208)	$ (28,260,061)
Adjustments to reconcile net loss to net cash used in operating activities:
Acquired in-process research and development	6,500,602
Deferred taxes	(1,309,973)
Stock-based compensation	6,133,990	3,126,920
Amortization of debt discount	59,766	11,608
Accretion on debt securities available for sale, net	(474,771)	(82,996)
Depreciation expense	72,284	48,161
Change in assets and liabilities:
Prepaid expenses and other current assets	404,264	(683,566)
Accounts payable	(3,082,081)	2,441,407
Accrued expenses	5,604,224	1,509,571
Net cash used in operating activities	(33,757,903)	(21,888,956)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of property and equipment	(9,529)	(248,382)
Purchases of marketable securities	(36,860,554)	(21,573,832)
Sales of marketable securities	59,000,000	27,459,000
Net cash provided by investing activities	22,762,007	5,636,786
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, net of issuance costs	720,964	14,194,871
Proceeds from employee stock purchase plan	194,849	85,614
Proceeds from long-term debt	14,450,000
Debt issuance costs paid in cash	(123,186)	(43,000)
Net cash provided by financing activities	15,242,627	14,237,485
NET INCREASE (DECREASE) IN CASH	4,246,731	(2,014,685)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	47,357,472	20,023,337
CASH AND CASH EQUIVALENTS, END OF PERIOD	51,604,203	18,008,652
Helio Vision, Inc [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Acquired in-process research and development	6,500,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash acquired in Helio asset acquisition	632,090
SUPPLEMENTAL DISCLOSURES OF NONCASH ACTIVITIES:
Assets acquired	75,632
Liabilities acquired	637,994
Fair value of securities issued	4,862,731
Right-of-use assets acquired through operating leases	$ 386,060
Cash paid during the period for interest		$ 81,968

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business	1. NATURE OF BUSINESS Aldeyra Therapeutics, Inc., together with its wholly-owned subsidiaries The Company’s principal activities to date include raising capital and research and development activities.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	2. BASIS OF PRESENTATION The accompanying interim condensed consolidated financial statements and related disclosures are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company’s audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the Securities and Exchange Commission on March 8, 2019. The financial information as of September 30, 2019, and the three and nine months ended September 30, 2019 and 2018, respectively, is unaudited. In the opinion of management all adjustments, consisting only of normal recurring adjustments considered necessary for the fair presentation of financial position, results of operations, and cash flows at the dates and for the periods presented, have been included. The balance sheet data as of December 31, 2018 was derived from audited financial statements. The results of the Company’s operations for any interim periods are not necessarily indicative of the results that may be expected for any other interim period or for a full fiscal year. Based on its current operating plan, and not including additional access to capital under the Company’s credit facility or the Open Market Sales Agreement SM Curtailment of operations would cause significant delays in the Company’s efforts to develop and introduce its products to market, which is critical to the realization of its business plan and the future operations of the Company. Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions, including fair value estimates for investments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting periods. The Company’s management evaluates its estimates and assumptions on an ongoing basis. Management’s most significant estimates in the Company’s financial statements include, but are not limited to, estimates related to clinical trial accruals, estimates related to prepaid and accrued research and development costs, acquired in-process research and development (IPR&D) expense, accounting for income taxes and related valuation allowance, and accounting for stock-based compensation. Although estimates and assumptions are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions. In-process research and development Assets purchased in an asset acquisition transaction are expensed as in-process research and development unless the assets acquired are deemed to have an alternative future use, provided that the acquired asset did not also include processes or activities that would constitute a “business” as defined under GAAP, the drug has not achieved regulatory approval for marketing and, absent obtaining such approval, has no established alternative future use. Acquired IPR&D payments are immediately expensed in the period in which they are incurred and include upfront payments, as well as transaction fees and subsequent pre-commercial milestone payments. Research and development costs incurred after the acquisition are expensed as incurred. Summary of Significant Accounting Policies There were no changes to significant accounting policies during the nine months ended September 30, 2019, as compared to the those identified in the 2018 Form 10-K, except for the Company's adoption of Accounting Standards Codification (ASC) Topic 842, Leases Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02 (ASU 2016-02), Leases

Helio vision acquisition

Helio vision acquisition	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Helio vision acquisition	3. Helio Vision Acquisition On January 28, 2019 (the Closing Date), the Company acquired Helio Vision, Inc. (Helio). As a result of the acquisition, the Company initially issued an aggregate of 1,150,990 shares of common stock to the former securityholders and an advisor of Helio. The founders of Helio were issued 568,627 shares and non-founders were issued 582,363 shares. The Helio founders’ shares are subject to vesting based on continued service to the Company over three years from the Closing Date of which 25% are vested as of September 30, 2019. The Company recognizes the expense associated with the founders’ restricted shares as compensation expense on a straight-line basis as the shares vest over the three-year period. For the three and nine months ended September 30, 2019, the Company recorded $0.6 million and $1.6 million, respectively, of research and development compensation expense for the founders’ restricted shares. The Company, subject to the conditions of the acquisition agreement, is contingently obligated to make additional payments to the former securityholders of Helio as follows: (a) $2.5 million of common stock on the date that is 24 months following the Closing Date (assuming certain technical milestones are met); (b) $10.0 million of common stock following approval by the FDA of a new drug approval application for the prevention and/or treatment of proliferative vitreoretinopathy or a substantially similar label prior to the 10th anniversary of the Closing Date; and (c) $2.5 million of common stock following FDA approval of a new drug application for an indication (other than proliferative vitreoretinopathy) prior to the 12th anniversary of the Closing Date (the shares of common stock issuable pursuant to the preceding clauses (a) – (c) are referred to herein as the Milestone Shares), provided that in no event shall the Company be obligated to issue more than an aggregate of 5,248,885 shares of common stock. Additionally, in the event of certain change of control or divestitures by the Company, certain former convertible noteholders of Helio will be entitled to a tax gross-up payment in an amount not to exceed $1.0 million. The Company determined that liability accounting is not required for the Milestone Shares under FASB ASC Topic 480, Distinguishing Liabilities from Equity (“ASC 480”). The Company also determined that the Milestone Shares meet the scope exception as a derivative under FASB ASC Topic 815, Derivatives and Hedging (“ASC 815”), from inception of the Milestone Shares through September 30, 2019. Accordingly, the Milestone Shares are evaluated under FASB ASC Topic 450, Contingencies (ASC 450) and the Company will record a liability related to the Milestone Shares if the milestones are achieved, and the obligation to make additional payment(s) becomes probable. At that time, the Company will record the cost of the Milestone Shares issued to the founders as compensation expense and to the Helio non-founders as in-process research and development expense if there is no alternative future use. No milestones related to the Milestone Shares are probable of being achieved as of September 30, 2019. The Company assessed the acquisition of Helio under the FASB ASC Topic 805, Business Combinations Income Taxes

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Loss Per Share	4. NET LOSS PER SHARE As of September 30, 2019 and 2018, diluted weighted average common shares outstanding is equal to basic weighted average common shares due to the Company’s net loss position. The following potentially dilutive securities, prior to the application of the treasury stock method, have been excluded from the computation of diluted weighted-average shares outstanding, because such securities had an antidilutive impact: Three and Nine Months Ended September 30, 2019 2018 Options to purchase common stock 4,539,279 3,512,163 Warrants to purchase common stock — 60,000 Restricted stock units 430,425 212,297 Unvested restricted shares (1) 426,472 — Total of common stock equivalents 5,396,176 3,784,460

Cash, Cash Equivalents and Mark

Cash, Cash Equivalents and Marketable Securities	9 Months Ended
	Sep. 30, 2019
Cash And Cash Equivalents [Abstract]
Cash, Cash Equivalents and Marketable Securities	5. CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES Cash, cash equivalents, and marketable securities were comprised of: September 30, 2019 Carrying Amount Unrecognized Gain Unrecognized Loss Estimated Fair Value Cash and Cash Equivalents Current Marketable Securities Cash $ 6,472,575 $ — $ — $ 6,472,575 $ 6,472,575 $ — Money market funds 16,136,718 — — 16,136,718 16,136,718 — Reverse repurchase agreements 26,000,000 — — 26,000,000 26,000,000 — U.S. government agency securities 27,556,218 5,766 27,561,984 2,994,910 24,567,074 Available for Sale (1) 53,556,218 5,766 — 53,561,984 28,994,910 24,567,074 Total cash, cash equivalents, and current marketable securities $ 51,604,203 $ 24,567,074 December 31, 2018 Carrying Amount Unrecognized Gain Unrecognized Loss Estimated Fair Value Cash and Cash Equivalents Current Marketable Securities Cash $ 2,127,175 $ — $ — $ 2,127,175 $ 2,127,175 $ — Money market funds 1,230,297 — — 1,230,297 1,230,297 — Reverse repurchase agreements 44,000,000 — — 44,000,000 44,000,000 — U.S. government agency securities 46,251,444 — (9,224 ) 46,242,220 — 46,242,220 Available for Sale (1) 90,251,444 — (9,224 ) 90,242,220 44,000,000 46,242,220 Total Cash, cash equivalents and current marketable securities $ 47,357,472 $ 46,242,220 (1) Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes, if material, in other comprehensive income. The contractual maturities of all available for sale securities were less than one year at September 30, 2019.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value are performed in a manner to maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820, Fair Value Measurements Level 1 – Quoted prices in active markets that are accessible at the market date for identical unrestricted assets or liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs for which all significant inputs are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. There were no liabilities measured at fair value at September 30, 2019 or December 31, 2018. Money market funds included in cash and cash equivalents in the consolidated balance sheets, are recorded at fair value and considered as Level 1 inputs under the fair value hierarchy. Reverse repurchase agreements and U.S. government agency securities are recorded at fair market value and considered as Level 2 inputs under the fair value hierarchy. Financial instruments including cash equivalents,

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2019
Payables And Accruals [Abstract]
Accrued Expenses	7. ACCRUED EXPENSES Accrued expenses were comprised of: September 30, December 31, 2019 2018 Accrued compensation $ 1,339,892 $ 1,172,880 Accrued research and development 9,374,374 3,882,313 Accrued general & administrative 610,697 366,305 Accrued expenses $ 11,324,963 $ 5,421,498

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Credit Facility	8. The Company’s long-term debt obligation consists of amounts the Company is obligated to repay under its credit facility with Hercules Capital, Inc. (Hercules). In March 2019, the Company entered into a Loan and Security Agreement with Hercules and the several banks and other financial institutions or entities, from time-to-time parties thereto (collectively, referred to as Lender), providing for a term loan of up to $60.0 million that is secured by a lien covering all of the Company’s assets, other than the Company’s intellectual property (the “Loan and Security Agreement” or the “Hercules Credit Facility”). The Loan and Security Agreement provides for an initial term loan advance of up to $5.0 million at the Company’s option, commencing on March 25, 2019 through and including April 15, 2019, which expired unutilized; three additional term loan advances of up to $15.0 million each, at the Company’s option, available to the Company upon the occurrence of certain funding conditions prior to September 30, 2019, March 31, 2020, and March 31, 2021, respectively, the first of which tranche was drawn down in full by the Company in September 2019; and a final additional term loan advance of up to $10.0 million prior to December 31, 2021, at the Company’s option, subject to approval by the Lender’s investment committee. As of September 30, 2019, $15.0 million was outstanding under the Hercules Credit Facility. The term loan bears interest at an annual rate equal to the greater of (i) 9.10% and (ii) the prime rate (as reported in the Wall Street Journal or any successor publication thereto) plus 3.10%. The Loan and Security Agreement provides for interest-only payments until May 1, 2021, with an option to extend the interest-only period to May 1, 2022 based upon the achievement of certain milestones. Repayment of the aggregate outstanding principal balance of the term loan, in monthly installments, starts upon expiration of the interest-only period and continues through October 1, 2023 (the Maturity Date). Associated with this debt facility, the Company incurred a commitment charge of $25,000, transaction costs of $273,186, a fee of $375,000 upon closing, and is required to pay a fee (End of Term Charge) of 6.95% multiplied by the aggregate amount of advances under the Loan and Security Agreement at maturity. The fees and transaction costs are amortized to interest expense through the Maturity Date using the effective interest method. At the Company’s option, the Company may elect to prepay all, but not less than all, of the outstanding term loan by paying the entire principal balance and all accrued and unpaid interest thereon plus all fees and other amounts due under the Loan and Security Agreement, including a prepayment charge equal to the following percentage of the principal amount being prepaid: 3% if the term loan is prepaid prior to March 25, 2021 and 1.5% if the term loan is prepaid any time thereafter, but prior to March 25, 2022. Future principal payments, including the End of Term Charge, are as follows: Years Ending December 31, 2019 $ — 2020 — 2021 3,659,776 2022 5,931,718 2023 6,451,006 $ 16,042,500 The Loan and Security Agreement also contains certain events of default, representations, warranties and non-financial covenants of the Company. In addition, the Company granted the Lender the right to purchase up to an aggregate of $2.0 million of the Company’s equity securities, or instruments exercisable for or convertible into equity securities, sold to investors in financings upon the same terms and conditions afforded to such other investors.

Stockholders Equity

Stockholders Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders Equity	9. In December 2018, the Company entered into the Jefferies Sales Agreement with Jefferies LLC (Jefferies), as sales agent, pursuant to which the Company may offer and sell, from time to time through Jefferies, shares of the Company’s common stock, par value $0.001 per share, providing for aggregate sales proceeds of up to $50,000,000. Under the Jefferies Sales Agreement, Jefferies may sell such shares of common stock in privately negotiated transactions with our consent; as block transactions; or by any other method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, including sales made directly on The Nasdaq Capital Market or sales made into any other existing trading market for the Company’s common stock, with the Company setting the parameters for the sale of shares thereunder, including the number of shares to be issued, the time period during which sales are requested to be made, any limits on the number of shares that may be sold in any one trading day, and any minimum price below which sales may not be made. The Jefferies Sales Agreement provides that Jefferies will be entitled to a commission rate of up to 3.0% of the aggregate gross proceeds from the sale of shares. The Company has no obligation to sell any shares under the Jefferies Sales Agreement, and may at any time suspend solicitations and offers under the Jefferies Sales Agreement. During the nine months ended September 30, 2019, the Company sold, at a volume-weighted average price of $10.73,

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	10. INCOME TAXES No provision for federal and state income taxes has been recorded as the Company has incurred losses since inception for tax purposes. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. In assessing the realizability of net deferred taxes in accordance with ASC 740, the Company considers whether it is more likely than not that some portion or all the deferred tax assets will not be realized. Based on the weight of available evidence, primarily the incurrence of net losses since inception, anticipated net losses in the near future, reversals of existing temporary differences, and expiration of various federal and state attributes, the Company does not consider it more likely than not that some or all of the net deferred taxes will be realized. Accordingly, a 100% valuation allowance has been applied against net deferred taxes. Under Section 382 of the Internal Revenue Code of 1986, as amended (Code), a corporation that undergoes an “ownership change” is subject to limitations on its ability to utilize its pre-change net operating losses (NOLs) and certain other tax assets (tax attributes) to offset future taxable income. In general, an ownership change occurs if the aggregate stock ownership of certain stockholders increases by more than 50 percentage points over such stockholders’ lowest percentage ownership during the testing period (generally three years). Transactions involving the Company’s common stock, even those outside the Company’s control, such as purchases or sales by investors, within the testing period could result in an ownership change. A limitation on the Company’s ability to utilize some or all its NOLs or credits could have a material adverse effect on the Company’s results of operations and cash flows. Aldeyra has undergone three ownership changes through the year ended December 31, 2018. However, the Company’s management believes that there is sufficient “Built-In-Gain” to offset the Section 382 limitation generated by such ownership changes. Any future ownership changes, including those resulting from the Company’s recent or future financing activities, may cause the Company’s existing tax attributes to incur additional limitations. All tax years are open for examination by the taxing authorities for both federal and state purposes. The Company accounts for uncertain tax positions pursuant to ASC 740 which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. Accordingly, in the provision for income taxes, the Company recognizes interest accrued related to unrecognized tax benefits and penalties; however, management is currently unaware of any uncertain tax positions.

Stock Incentive Plan

Stock Incentive Plan	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Incentive Plan	11. STOCK INCENTIVE PLAN The Company’s equity incentive plans are described below. The plans provided for the granting of stock options, restricted stock, stock appreciation rights, stock units, and performance cash awards to certain employees, members of the board of directors, and consultants of the Company with a generally prescribed contractual term of ten years. The Company approved the 2010 Employee, Director and Consultant Equity Incentive Plan (2010 Plan) in September 2010. The 2010 Plan provided for the granting of stock options and restricted stock awards. The 2010 Plan terminated in May 2014 upon the Company’s initial public offering (Initial Public Offering). However, grants made under the 2010 Plan are still governed by that plan. As of September 30, 2019, options to purchase 413,130 shares of common stock at a weighted average exercise price of $1.58 per share remained outstanding under the 2010 Plan. The Company approved the 2013 Equity Incentive Plan (2013 Plan) in October 2013. The 2013 Plan became effective immediately on adoption although no awards were to be made under it until the effective date of the registration statement for the Initial Public Offering. The 2013 Plan was amended in June 2016 and in June 2018. On January 1st of each year the aggregate number of common shares that may be issued under the 2013 Plan shall automatically increase by such a number of shares equal to the lower of (a) 6% of the total number of shares of common stock outstanding on the last calendar day of the prior fiscal year, or (b) a number of shares of common stock determined by the Company’s board of directors. As of September 30, 2019, options to purchase 4,126,149 shares of common stock at a weighted average exercise price of $7.14 per share and 430,425 shares of common stock underlying restricted stock units (RSUs) remained outstanding under the 2013 Plan. As of September 30, 2019, there were 463,700 shares of common stock available for grant under the 2013 Plan. In connection with the Helio acquisition, the Helio founders were issued 568,627 shares of Aldeyra common stock pursuant to the acquisition agreement. Such shares were not issued from the 2013 Plan. This common stock is subject to vesting conditions based on continuous service to Aldeyra over three years from the date of acquisition. The Company recognizes expense associated with the Helio founders’ restricted shares as compensation expense on a straight-line basis as the shares vest over the three-year period. Note 3 contains additional details on the Helio acquisition. The Company recognizes stock-based compensation expense over the requisite service period. The Company’s share-based awards are accounted for as equity instruments. The amounts included in the consolidated statements of operations relating to stock-based compensation associated with the two equity incentive plans, excluding the effect of vesting associated with the shares of our common stock issued pursuant to the Helio acquisition, are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Research and development expenses $ 652,526 $ 396,940 $ 1,924,716 $ 1,135,342 General and administrative expenses 905,283 876,780 2,605,240 1,991,577 Total stock-based compensation expense $ 1,557,809 $ 1,273,720 $ 4,529,956 $ 3,126,919 Stock Options The table below summarizes activity relating to stock options under the incentive plans for the nine months ended September 30, 2019: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value(a) Outstanding at December 31, 2018 3,383,047 $ 6.17 Granted 1,317,819 $ 7.86 Exercised (30,000 ) $ 5.00 Forfeitures (131,587 ) $ 7.28 Outstanding at September 30, 2019 4,539,279 $ 6.64 7.49 $ 1,881,826 Exercisable at September 30, 2019 2,596,879 $ 5.80 6.42 $ 1,834,416 (a) The aggregate intrinsic value in this table was calculated on the positive difference, if any, between the closing price per share of the Company’s common stock on September 30, 2019 of $5.27 and the price of the underlying options. As of September 30, 2019, unamortized stock-based compensation for all stock options was $9,712,699 and will be recognized over a weighted average period of 2.69 years. Restricted Stock Units The table below summarizes activity relating to RSUs for the nine months ended September 30, 2019: Number of Shares Outstanding at December 31, 2018 212,297 Granted 283,140 Vested/released (65,012 ) Outstanding at September 30, 2019 430,425 The weighted-average fair value of RSUs granted was $7.65 per share for the nine months ended September 30, 2019. As of September 30, 2019, the outstanding RSUs had unamortized stock-based compensation of $2.6 million with a weighted-average remaining recognition period of 2.88 years and an aggregate intrinsic value of $2.3 million. Employee Stock Purchase Plan At September Nine Months Ended September 30, 2019 2018 Weighted-average grant-date fair value per share $ 2.92 $ 2.97 Total stock-based compensation expense $ 76,507 $ 56,514

Stock Purchase Warrants

Stock Purchase Warrants	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stock Purchase Warrants	12. STOCK PURCHASE WARRANTS In connection with the Initial Public Offering, the Company issued the underwriters of the offering warrants to purchase up to 60,000 shares of common stock. The warrants were exercisable beginning on May 1, 2015 for cash, or on a cashless basis, at a per share price of $10.00. Unexercised warrants to purchase up to 40,300 shares of common stock expired on May 1, 2019 pursuant to their terms and as of September 30, 2019, none of these warrants were outstanding.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	13. LEASES The Company currently leases an office used to conduct business. The exercise of lease renewal options is at our discretion and the renewal to extend the lease terms are not included in our Right-Of-Use assets and lease liabilities as they are not reasonably certain of exercise. We regularly evaluate the renewal options and when they are reasonably certain of exercise, we include the renewal period in our lease term. As our lease does not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. As of September 30, 2019, the Company maintained an unamortized Right-Of-Use asset with a corresponding operating lease liability of approximately $0.3 million based on the present value of the minimum rental payments as a result of adoption of ASC Topic 842, Leases 2019 $ 57,275 2020 237,671 Total Lease Payments 294,946 Less: effect of discounting (17,273 ) Present value of lease liabilities $ 277,673 Current operating lease liabilities $ 218,953 Non-current operating lease liabilities 58,720 Total $ 277,673 The Company’s gross future minimum payments under all non-cancelable operating leases as of September 30,2019, are: Total 2019 2020 2021 2022 Operating lease obligations $ 294,946 $ 57,275 $ 237,671 $ — $ —

Legal Proceedings

Legal Proceedings	9 Months Ended
	Sep. 30, 2019
Legal Proceedings [Abstract]
Legal Proceedings	14. LEGAL PROCEEDINGS In the ordinary course of its business, the Company may be involved in various legal proceedings involving contractual and employment relationships, patent or other intellectual property rights, and a variety of other matters. The Company is not aware of any pending legal proceedings that would reasonably be expected to have a material impact on the Company’s financial position or results of operations

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. COMMITMENTS AND CONTINGENCIES Other than as set forth in Notes 3 and 8, there have been no material changes to the Company’s commitments and contingencies from the information provided in Note 12, Commitments and Contingencies

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	16. SUBSEQUENT EVENTS None.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions, including fair value estimates for investments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting periods. The Company’s management evaluates its estimates and assumptions on an ongoing basis. Management’s most significant estimates in the Company’s financial statements include, but are not limited to, estimates related to clinical trial accruals, estimates related to prepaid and accrued research and development costs, acquired in-process research and development (IPR&D) expense, accounting for income taxes and related valuation allowance, and accounting for stock-based compensation. Although estimates and assumptions are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.
In Process Research and Development	In-process research and development Assets purchased in an asset acquisition transaction are expensed as in-process research and development unless the assets acquired are deemed to have an alternative future use, provided that the acquired asset did not also include processes or activities that would constitute a “business” as defined under GAAP, the drug has not achieved regulatory approval for marketing and, absent obtaining such approval, has no established alternative future use. Acquired IPR&D payments are immediately expensed in the period in which they are incurred and include upfront payments, as well as transaction fees and subsequent pre-commercial milestone payments. Research and development costs incurred after the acquisition are expensed as incurred.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02 (ASU 2016-02), Leases

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Computation of Diluted Weighted-Average Shares Outstanding	The following potentially dilutive securities, prior to the application of the treasury stock method, have been excluded from the computation of diluted weighted-average shares outstanding, because such securities had an antidilutive impact: Three and Nine Months Ended September 30, 2019 2018 Options to purchase common stock 4,539,279 3,512,163 Warrants to purchase common stock — 60,000 Restricted stock units 430,425 212,297 Unvested restricted shares (1) 426,472 — Total of common stock equivalents 5,396,176 3,784,460

Cash, Cash Equivalents and Ma_2

Cash, Cash Equivalents and Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2019
Cash And Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents and Marketable Securities	Cash, cash equivalents, and marketable securities were comprised of: September 30, 2019 Carrying Amount Unrecognized Gain Unrecognized Loss Estimated Fair Value Cash and Cash Equivalents Current Marketable Securities Cash $ 6,472,575 $ — $ — $ 6,472,575 $ 6,472,575 $ — Money market funds 16,136,718 — — 16,136,718 16,136,718 — Reverse repurchase agreements 26,000,000 — — 26,000,000 26,000,000 — U.S. government agency securities 27,556,218 5,766 27,561,984 2,994,910 24,567,074 Available for Sale (1) 53,556,218 5,766 — 53,561,984 28,994,910 24,567,074 Total cash, cash equivalents, and current marketable securities $ 51,604,203 $ 24,567,074 December 31, 2018 Carrying Amount Unrecognized Gain Unrecognized Loss Estimated Fair Value Cash and Cash Equivalents Current Marketable Securities Cash $ 2,127,175 $ — $ — $ 2,127,175 $ 2,127,175 $ — Money market funds 1,230,297 — — 1,230,297 1,230,297 — Reverse repurchase agreements 44,000,000 — — 44,000,000 44,000,000 — U.S. government agency securities 46,251,444 — (9,224 ) 46,242,220 — 46,242,220 Available for Sale (1) 90,251,444 — (9,224 ) 90,242,220 44,000,000 46,242,220 Total Cash, cash equivalents and current marketable securities $ 47,357,472 $ 46,242,220 (1) Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes, if material, in other comprehensive income.

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2019
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses were comprised of: September 30, December 31, 2019 2018 Accrued compensation $ 1,339,892 $ 1,172,880 Accrued research and development 9,374,374 3,882,313 Accrued general & administrative 610,697 366,305 Accrued expenses $ 11,324,963 $ 5,421,498

Credit Facility (Tables)

Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Principal Payments Including End of Term Charges	Future principal payments, including the End of Term Charge, are as follows: Years Ending December 31, 2019 $ — 2020 — 2021 3,659,776 2022 5,931,718 2023 6,451,006 $ 16,042,500 Future principal payments, including the End of Term Charge Years Ending December 31, 2019 $ — 2020 — 2021 3,659,776 2022 5,931,718 2023 6,451,006 $ 16,042,500

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock-Based Compensation Expense	The amounts included in the consolidated statements of operations relating to stock-based compensation associated with the two equity incentive plans, excluding the effect of vesting associated with the shares of our common stock issued pursuant to the Helio acquisition, are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Research and development expenses $ 652,526 $ 396,940 $ 1,924,716 $ 1,135,342 General and administrative expenses 905,283 876,780 2,605,240 1,991,577 Total stock-based compensation expense $ 1,557,809 $ 1,273,720 $ 4,529,956 $ 3,126,919
Summary of Activity Relating to Stock Options	The table below summarizes activity relating to stock options under the incentive plans for the nine months ended September 30, 2019: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value(a) Outstanding at December 31, 2018 3,383,047 $ 6.17 Granted 1,317,819 $ 7.86 Exercised (30,000 ) $ 5.00 Forfeitures (131,587 ) $ 7.28 Outstanding at September 30, 2019 4,539,279 $ 6.64 7.49 $ 1,881,826 Exercisable at September 30, 2019 2,596,879 $ 5.80 6.42 $ 1,834,416 (a) The aggregate intrinsic value in this table was calculated on the positive difference, if any, between the closing price per share of the Company’s common stock on September 30, 2019 of $5.27 and the price of the underlying options.
Summary of Activity Relating to Restricted Stock Units	The table below summarizes activity relating to RSUs for the nine months ended September 30, 2019: Number of Shares Outstanding at December 31, 2018 212,297 Granted 283,140 Vested/released (65,012 ) Outstanding at September 30, 2019 430,425
Summary of Employee Stock Purchase Plan Activity	A summary of the weighted-average grant-date fair value, and total stock-based compensation expense recognized related to the 2016 ESPP are as follows Nine Months Ended September 30, 2019 2018 Weighted-average grant-date fair value per share $ 2.92 $ 2.97 Total stock-based compensation expense $ 76,507 $ 56,514

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Maturities and Balance Sheet Presentation of Lease Liabilities	Maturities and balance sheet presentation of our lease liabilities for all operating leases as of September 30, 2019 is as follows: 2019 $ 57,275 2020 237,671 Total Lease Payments 294,946 Less: effect of discounting (17,273 ) Present value of lease liabilities $ 277,673 Current operating lease liabilities $ 218,953 Non-current operating lease liabilities 58,720 Total $ 277,673 The Company’s gross future minimum payments under all non-cancelable operating leases as of September 30,2019, are: Total 2019 2020 2021 2022 Operating lease obligations $ 294,946 $ 57,275 $ 237,671 $ — $ —

Helio vision acquisition - Addi

Helio vision acquisition - Additional Information (Detail) - USD ($)	Jan. 28, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Stock-based compensation expense		$ 1,557,809	$ 1,273,720	$ 4,529,956	$ 3,126,919
Income tax benefit				1,309,973
Acquired in-process research and development				6,500,602
Research and Development Expenses [Member]
Business Acquisition [Line Items]
Stock-based compensation expense		652,526	$ 396,940	1,924,716	$ 1,135,342
Helio Vision, Inc [Member]
Business Acquisition [Line Items]
Business combination, stock issued	1,150,990
Income tax benefit				1,300,000
Acquired in-process research and development				6,500,000
Helio Vision, Inc [Member] | Founders [Member]
Business Acquisition [Line Items]
Business combination, stock issued	568,627
Helio Vision, Inc [Member] | Founders [Member] | Service Based Awards [Member]
Business Acquisition [Line Items]
Share-based compensation award, vesting period	3 years
Vesting Percentage Of Shares Of Common Stock Issued Former Security Holders And Advisor	25.00%
Helio Vision, Inc [Member] | Founders [Member] | Restricted Stock [Member]
Business Acquisition [Line Items]
Share-based compensation award, vesting period	3 years
Helio Vision, Inc [Member] | Founders [Member] | Restricted Stock [Member] | Research and Development Expenses [Member]
Business Acquisition [Line Items]
Stock-based compensation expense		$ 600,000		$ 1,600,000
Helio Vision, Inc [Member] | Non Founders [Member]
Business Acquisition [Line Items]
Business combination, stock issued	582,363
Helio Vision, Inc [Member] | Common Stock, 24 Months Following the Closing Date [Member]
Business Acquisition [Line Items]
Business combination, contingent consideration liability	$ 2,500,000
Helio Vision, Inc [Member] | Common Stock after FDA Approval prior to 10th Anniversary [Member]
Business Acquisition [Line Items]
Business combination, contingent consideration liability	10,000,000
Helio Vision, Inc [Member] | Common Stock After F D A Approval Prior To Twelfth Anniversary
Business Acquisition [Line Items]
Business combination, contingent consideration liability	$ 2,500,000
Helio Vision, Inc [Member] | Common Stock After F D A Approval Prior To Twelfth Anniversary | Maximum [Member]
Business Acquisition [Line Items]
Business combination, contingent consideration stock to be issued	5,248,885
Helio Vision, Inc [Member] | Tax Gross-up Payment in Event of Change of Control or Divesture [Member]
Business Acquisition [Line Items]
Business combination, contingent consideration liability	$ 1,000,000

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Diluted Weighted-Average Shares Outstanding (Detail) - shares		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents		5,396,176	3,784,460	5,396,176	3,784,460
Employee Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents		4,539,279	3,512,163	4,539,279	3,512,163
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents			60,000		60,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents		430,425	212,297	430,425	212,297
Unvested Restricted Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total of common stock equivalents	[1]	426,472		426,472
[1]	Represents 426,472 shares of common stock that are issued and outstanding but that were subject to a right of repurchase by the Company at September 30, 2019 and are not included in stockholders’ equity pursuant to U.S. generally accepted accounting principles.

Net Loss Per Share - Computat_2

Net Loss Per Share - Computation of Diluted Weighted-Average Shares Outstanding (Parenthetical) (Detail)	Sep. 30, 2019shares
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of common stock shares outstanding, subject to repurchase	426,472

Cash, Cash Equivalents and Ma_3

Cash, Cash Equivalents and Marketable Securities - Schedule of Cash, Cash Equivalents and Marketable Securities (Detail) - USD ($)		Sep. 30, 2019	Dec. 31, 2018
Cash Cash Equivalents And Marketable Securities [Line Items]
Cash		$ 6,472,575	$ 2,127,175
Money market funds		16,136,718	1,230,297
Cash equivalent - Reverse Repurchase Agreements		26,000,000	44,000,000
U.S. government agency securities		27,556,218	46,251,444
Available for Sale	[1]	53,556,218	90,251,444
Reverse repurchase agreements		26,000,000	44,000,000
Cash and Cash Equivalents		51,604,203	47,357,472
Current Marketable Securities		24,567,074	46,242,220
Available for Sale [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain	[1]	5,766
Unrecognized Loss	[1]		(9,224)
Estimated Fair Value	[1]	53,561,984	90,242,220
Cash and Cash Equivalents	[1]	28,994,910	44,000,000
Current Marketable Securities	[1]	24,567,074	46,242,220
Cash [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Estimated Fair Value		6,472,575	2,127,175
Cash and Cash Equivalents		6,472,575	2,127,175
Money Market Funds [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Estimated Fair Value		16,136,718	1,230,297
Cash and Cash Equivalents		16,136,718	1,230,297
Reverse Repurchase Agreements [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Estimated Fair Value		26,000,000	44,000,000
Cash and Cash Equivalents		26,000,000	44,000,000
U.S. Government Agencies Securities [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Unrecognized Gain		5,766
Unrecognized Loss			(9,224)
Estimated Fair Value		27,561,984	46,242,220
Cash and Cash Equivalents		2,994,910
Current Marketable Securities		$ 24,567,074	$ 46,242,220
[1]	Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes, if material, in other comprehensive income.

Cash, Cash Equivalents and Ma_4

Cash, Cash Equivalents and Marketable Securities - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019
Maximum [Member]
Cash Cash Equivalents And Marketable Securities [Line Items]
Contractual maturities of available for sale securities	1 year

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Liabilities measured at fair value on a recurring basis	$ 0	$ 0

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Payables And Accruals [Abstract]
Accrued compensation	$ 1,339,892	$ 1,172,880
Accrued research and development	9,374,374	3,882,313
Accrued general & administrative	610,697	366,305
Accrued expenses	$ 11,324,963	$ 5,421,498

Credit Facility - Additional In

Credit Facility - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Line Of Credit Facility [Line Items]
Proceeds from Long-term lines of credit			$ 16,042,500
Hercules Credit Facility [Member]
Line Of Credit Facility [Line Items]
Credit facility amount		$ 60,000,000
Credit facility amount outstanding	$ 15,000,000
Debt instrument annual interest rate	9.10%
Interest payment period	May 1, 2021
Interest payment extension period	May 1, 2022
Term loan maturity date	Oct. 1, 2023
Credit facility fee	$ 375,000
Credit facility commitment fee percentage	6.95%
Term loan prepayment term	3% if the term loan is prepaid prior to March 25, 2021 and 1.5% if the term loan is prepaid any time thereafter, but prior to March 25, 2022
Commitment charge	$ 25,000
Transaction costs	$ 273,186
Hercules Credit Facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Credit facility prepayment fee percentage	3.00%
Loan agreement right to purchase aggregate amount of equity securities	$ 2,000,000
Hercules Credit Facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Credit facility prepayment fee percentage	1.50%
Hercules Credit Facility [Member] | Prime Rate [Member]
Line Of Credit Facility [Line Items]
Debt instrument variable annual interest rate	3.10%
Hercules Credit Facility [Member] | Term Loan Advance One [Member]
Line Of Credit Facility [Line Items]
Credit facility amount		5,000,000
Hercules Credit Facility [Member] | Term Loan Advance Two [Member]
Line Of Credit Facility [Line Items]
Proceeds from Long-term lines of credit		15,000,000
Hercules Credit Facility [Member] | Term Loan Advance Three [Member]
Line Of Credit Facility [Line Items]
Proceeds from Long-term lines of credit		15,000,000
Hercules Credit Facility [Member] | Term Loan Advance Four [Member]
Line Of Credit Facility [Line Items]
Proceeds from Long-term lines of credit		15,000,000
Hercules Credit Facility [Member] | Term Loan Advance Five [Member]
Line Of Credit Facility [Line Items]
Proceeds from Long-term lines of credit		$ 10,000,000

Credit Facility - Schedule of P

Credit Facility - Schedule of Principal Payments Incuding End of Term Charges (Detail)	Dec. 31, 2018USD ($)
Line Of Credit Facility [Abstract]
2021	$ 3,659,776
2022	5,931,718
2023	6,451,006
Long-term Debt	$ 16,042,500

Stockholders Equity - Additiona

Stockholders Equity - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Dec. 31, 2018	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Class Of Stock [Line Items]
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Proceeds from issuance of common stock, net of commissions and other offering costs			$ 720,964	$ 14,194,871
Jefferies LLC [Member] | Jefferies Sales Agreement [Member]
Class Of Stock [Line Items]
Common stock, par value	$ 0.001
Volume-weighted average price			$ 10.73
Issuance of common stocks		0	83,557
Proceeds from issuance of common stock, net of commissions and other offering costs			$ 700,000
Jefferies LLC [Member] | Jefferies Sales Agreement [Member] | Maximum [Member]
Class Of Stock [Line Items]
Expected aggregate gross proceeds from issuance of stock	$ 50,000,000
Commission as percentage of gross proceeds			3.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019USD ($)
Income Tax [Line Items]
Provision for income tax benefit	$ (1,309,973)
Deferred tax assets valuation allowance	100.00%
State and Federal [Member]
Income Tax [Line Items]
Provision for income tax benefit	$ 0

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Detail) - USD ($)	Jan. 28, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock incentive plans, contractual term		ten years
Options to purchase of shares of common stock		4,539,279		3,383,047
Exercise price per share of common stock		$ 6.64		$ 6.17
Helio Vision, Inc [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition equity interests issued	1,150,990
Helio Vision, Inc [Member] | Founders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition equity interests issued	568,627
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock underlying restricted stock units outstanding		430,425
Unamortized stock-based compensation		$ 2,600,000
Weighted average grant date fair value		$ 7.65
Weighted average remaining recognition period		2 years 10 months 17 days
Aggregate intrinsic value of options outstanding		$ 2,300,000
Service Based Awards [Member] | Helio Vision, Inc [Member] | Founders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, vesting period	3 years
Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation		$ 9,712,699
Weighted average recognition period		2 years 8 months 8 days
2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase of shares of common stock		413,130
Exercise price per share of common stock		$ 1.58
2013 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to purchase of shares of common stock		4,126,149
Exercise price per share of common stock		$ 7.14
Common stock available for issuance		463,700
Amended 2013 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of increase in common stock outstanding		6.00%
2016 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for issuance		596,963
Weighted average grant date fair value		$ 2.92	$ 2.97

Stock Incentive Plan - Schedule

Stock Incentive Plan - Schedule of Stock-Based Compensation Expense (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 1,557,809	$ 1,273,720	$ 4,529,956	$ 3,126,919
Research and Development Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	652,526	396,940	1,924,716	1,135,342
General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 905,283	$ 876,780	$ 2,605,240	$ 1,991,577

Stock Incentive Plan - Summary

Stock Incentive Plan - Summary of Stock Option Activity (Detail)	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares Outstanding, Beginning Balance | shares	3,383,047
Number of Shares, Granted | shares	1,317,819
Number of Shares, Exercised | shares	(30,000)
Number of Shares, Forfeitures | shares	(131,587)
Number of Shares Outstanding, Ending Balance | shares	4,539,279
Number of Shares Exercisable, Ending Balance | shares	2,596,879
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 6.17
Weighted Average Exercise Price, Granted | $ / shares	7.86
Weighted Average Exercise Price, Exercised | $ / shares	5
Weighted Average Exercise Price, Forfeitures | $ / shares	7.28
Weighted Average Exercise Price, Ending Balance | $ / shares	6.64
Weighted Average Exercise Price Exercisable, Ending Balance | $ / shares	$ 5.80
Weighted Average Contractual Term, Outstanding	7 years 5 months 26 days
Weighted Average Contractual Term, Exercisable	6 years 5 months 1 day
Aggregate Intrinsic Value, Outstanding | $	$ 1,881,826	[1]
Aggregate Intrinsic Value, Exercisable | $	$ 1,834,416	[1]
[1]	The aggregate intrinsic value in this table was calculated on the positive difference, if any, between the closing price per share of the Company’s common stock on September 30, 2019 of $5.27 and the price of the underlying options.

Stock Incentive Plan - Summar_2

Stock Incentive Plan - Summary of Stock Option Activity (Parenthetical) (Detail)	Sep. 30, 2019$ / shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Closing market value of common stock	$ 5.27

Stock Incentive Plan - Summar_3

Stock Incentive Plan - Summary of Activity Relating to Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Outstanding, Beginning Balance	212,297
Granted	283,140
Vested/released	(65,012)
Number of Shares Outstanding, Ending Balance	430,425

Stock Incentive Plan - Summar_4

Stock Incentive Plan - Summary of Employee Stock Purchase Plan Activity (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,557,809	$ 1,273,720	$ 4,529,956	$ 3,126,919
2016 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value per share			$ 2.92	$ 2.97
Total stock-based compensation expense			$ 76,507	$ 56,514

Stock Purchase Warrants - Addit

Stock Purchase Warrants - Additional Information (Detail) - Warrant [Member]	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Class of Warrant or Right [Line Items]
Warrants redeemable into common shares	60,000
Warrants exercisable date	May 1, 2015
Exercise price of warrants | $ / shares	$ 10
Warrants expiration date	May 1, 2019
Class of warrants issued and expired unexercised	40,300
Number outstanding	0

Leases - Additional Information

Leases - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Leases [Abstract]
Present value of lease liabilities	$ 277,673	$ 277,673
Operating leases, weighted average remaining lease term (years)	1 year 3 months	1 year 3 months
Operating leases, weighted average discount rate	9.10%	9.10%
Operating lease expense	$ 53,088	$ 159,263

Leases - Schedule of Maturities

Leases - Schedule of Maturities and Balance Sheet Presentation of Lease Liabilities (Detail)	Sep. 30, 2019USD ($)
Leases [Abstract]
2019	$ 57,275
2020	237,671
Total Lease Payments	294,946
Less: effect of discounting	(17,273)
Present value of lease liabilities	277,673
Current operating lease liabilities	218,953
Non-current operating lease liabilities	58,720
Present value of lease liabilities	$ 277,673

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Payments Under Non-Cancelable Operating Leases (Detail)	Sep. 30, 2019USD ($)
Leases [Abstract]
Total Lease Payments	$ 294,946
Operating lease obligations, 2019	57,275
Operating lease obligations, 2020	237,671
Operating lease obligations, 2021	0
Operating lease obligations, 2022	$ 0