Opiant Pharmaceuticals (OPNT) 10-Q 12 May 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 11, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Registrant Name	OPIANT PHARMACEUTICALS, INC.
Entity Central Index Key	0001385508
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,258,105

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 32,197,521	$ 30,980,473
Accounts receivable	4,205,306	7,218,367
Prepaid and other current assets	1,023,222	1,055,816
Total current assets	37,426,049	39,254,656
Other assets
Property and equipment - net	199,067	243,039
Right of use assets - operating leases	627,563	768,441
Patents and patent applications - net of accumulated amortization	14,030	14,373
Total assets	38,266,709	40,280,509
Current liabilities
Accounts payable and accrued expenses	1,450,478	1,316,773
Accrued salaries and wages	599,295	1,237,661
Royalty payable	934,004	1,620,182
Deferred revenue	842,419	918,272
Operating leases - current	499,901	516,931
Total current liabilities	4,326,097	5,609,819
Long-term liabilities
Operating leases - long term	131,020	254,664
Total long-term liabilities	131,020	254,664
Total liabilities	4,457,117	5,864,483
Stockholders' equity
Common stock; par value $0.001; 200,000,000 shares authorized; 4,258,105 and 4,186,438 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	4,259	4,187
Additional paid-in capital	98,611,083	97,239,455
Accumulated other comprehensive loss	(293,491)	0
Accumulated deficit	(64,512,259)	(62,827,616)
Total stockholders' equity	33,809,592	34,416,026
Total liabilities and stockholders' equity	$ 38,266,709	$ 40,280,509

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	200,000,000	200,000,000
Common stock issued (in shares)	4,258,105	4,186,438
Common stock outstanding (in shares)	4,258,105	4,186,438

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Total revenue	$ 4,282,586	$ 5,435,444
Operating expenses:
General and administrative	2,573,311	3,382,070
Research and development	1,420,985	3,567,263
Sales and marketing	1,076,527	0
Royalty Expense	934,005	313,668
Total operating expenses	6,004,828	7,263,001
Loss from operations	(1,722,242)	(1,827,557)
Other income (expense):
Interest income, net	76,599	121,695
Loss on foreign exchange	0	(30,158)
Total other income (expense)	76,599	91,537
Loss before provision for income taxes	(1,645,643)	(1,736,020)
Income tax expense	(39,000)	0
Net loss	(1,684,643)	(1,736,020)
Other comprehensive loss:
Foreign currency translation adjustment	(293,491)	0
Comprehensive loss	$ (1,978,134)	$ (1,736,020)
Net loss per share of common stock:
Basic and Diluted (in dollars per share)	$ (0.40)	$ (0.44)
Weighted average shares outstanding used to compute net loss per share:
Basic and Diluted (in shares)	4,224,555	3,909,702
Royalty and licensing revenue
Revenues:
Total revenue	$ 4,198,500	$ 3,746,250
Treatment investment revenue
Revenues:
Total revenue	0	80,495
Grant and contract revenue
Revenues:
Total revenue	$ 84,086	$ 1,608,699

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Dec. 31, 2018		3,845,361
Beginning Balance at Dec. 31, 2018	$ 16,859,266	$ 3,846	$ 91,276,086	$ (74,420,666)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		80,000
Exercise of stock options	601,250	$ 80	601,170
Stock based compensation	1,065,852		1,065,852
Net loss	(1,736,020)			(1,736,020)
Other comprehensive loss - foreign currency translation adjustment	0
Ending Balance (in shares) at Mar. 31, 2019		3,925,361
Ending Balance at Mar. 31, 2019	16,790,348	$ 3,926	92,943,108	(76,156,686)
Beginning Balance (in shares) at Dec. 31, 2019		4,186,438
Beginning Balance at Dec. 31, 2019	$ 34,416,026	$ 4,187	97,239,455	(62,827,616)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	71,667	12,157
Exercise of stock options	$ 90,000	$ 12	89,988
Exercise of warrants (in shares)		59,510
Exercise of warrants	595,101	$ 60	595,041
Stock based compensation	686,599		686,599
Net loss	(1,684,643)			(1,684,643)
Other comprehensive loss - foreign currency translation adjustment	(293,491)				(293,491)
Ending Balance (in shares) at Mar. 31, 2020		4,258,105
Ending Balance at Mar. 31, 2020	$ 33,809,592	$ 4,259	$ 98,611,083	$ (64,512,259)	$ (293,491)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2017
Cash flows from operating activities
Net loss	$ (1,684,643)	$ (1,736,020)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation and amortization	37,254	343
Non-cash lease expense	117,895	0
Stock based compensation from issuance of options	686,599	1,065,852
Change in assets and liabilities:
Accounts receivable	3,013,061	2,533,489
Prepaid and other current assets	24,489	(253,766)
Accounts payable and accrued liabilities	144,786	348,986
Accrued salaries and wages	(630,306)	(465,876)
Lease liabilities	(117,122)	0
Royalty payable	(686,178)	(684,487)
Deferred revenue	(75,853)	(455,055)
License fees	0	(1,800,000)
Net cash provided by (used in) operating activities	829,982	(1,446,534)
Cash flows from investing activities
Proceeds from sale of property and equipment	6,596	0
Net cash provided by in investing activities	6,596	0
Cash flows provided by financing activities
Proceeds from stock option and warrant exercises	685,101	601,250
Net cash provided by financing activities	685,101	601,250
Effect of foreign currency translation on cash	(304,631)	0
Net increase (decrease) in cash and cash equivalents	1,217,048	(845,284)
Cash and cash equivalents, beginning of period	30,980,473	24,613,638
Cash and cash equivalents, end of period	32,197,521	$ 23,768,354
Non-Cash Transactions
Cashless exercise of options	$ 2		$ 0

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Company Opiant is a specialty pharmaceutical company developing medicines for addiction and drug overdose. The Company developed NARCAN® (naloxone hydrochloride) Nasal Spray (“NARCAN®”), a treatment to reverse opioid overdose. This product was conceived and developed by the Company, licensed to Adapt Pharma Operations Limited (“Adapt”), an Ireland based pharmaceutical company in December 2014 and approved by the U.S. Food and Drug Administration (“FDA”) in November 2015. It was initially marketed by Adapt. In October 2018, Emergent BioSolutions, Inc. ("EBS") completed its acquisition of Adapt. The Company's current pipeline includes medicines in development for Opioid Overdose Reversal (“OOR”), Alcohol Use Disorder (“AUD”), Opioid Use Disorder (“OUD”), and Acute Cannabinoid Overdose (“ACO”). The Company is also pursuing other treatment opportunities within the addiction and drug overdose field. The Company has not had a bankruptcy, receivership or similar proceeding. The Company is required to comply with all regulations, rules and directives of governmental authorities and agencies applicable to the clinical testing and manufacturing and sale of pharmaceutical products.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and the applicable rules and regulations of the SEC for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited consolidated financial statements at that date, but does not include all disclosures, including notes, required by GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to present fairly the Company's financial position as of March 31, 2020, results of its operations for the three months ended March 31, 2020 and 2019, and cash flows for the three months ended March 31, 2020 and 2019. The interim results are not necessarily indicative of the results for any future interim period or for the entire year. Certain prior period amounts have been reclassified to conform to current period presentation. These classifications have no effect on the previously reported net loss or loss per share. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Opiant Pharmaceuticals UK Limited, a company incorporated on November 4, 2016 under the England and Wales Companies Act of 2006. Intercompany balances and transactions are eliminated upon consolidation. The accompanying condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2019 included in the Company's Annual Report on Form 10-K filed with the SEC on March 4, 2020. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and reported amounts of expenses in the financial statements and accompanying notes. Actual results could differ from those estimates. Key estimates included in the financial statements include the valuation of: deferred income tax assets, equity instruments, stock-based compensation, acquired intangibles, and allowances for accounts receivable. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents were approximately $32.2 million and $31.0 million at March 31, 2020 and December 31, 2019, respectively. The Company maintains cash balances at financial institutions insured up to $250 thousand by the Federal Deposit Insurance Corporation. Balances in the UK are insured up to £85 thousand by the Financial Services Compensation Scheme (UK Equivalent). Although the Company’s cash balances exceeded these insured amounts at various times during the three months ended March 31, 2020, the Company has not experienced any losses on its deposits of cash and cash equivalents for the periods presented. Loss Per Share Basic and diluted loss per share is computed by dividing loss attributable to common stockholders by the weighted average number of shares of Common Stock outstanding during the period. Diluted weighted average shares outstanding for the three months ended March 31, 2020 and 2019 excludes 3.1 million and 3.6 million shares, underlying stock options and warrants, respectively, because the effects would be anti-dilutive due to the Company's net loss. Accordingly, basic and diluted loss per share is the same. Foreign Currency Translation The functional currency of our wholly-owned subsidiary, Opiant UK is the British Pounds, its local currency. Consequently, its assets and liabilities are translated at current rates of exchange at the balance sheet date. Income and expense items are translated at the average foreign currency exchange rates for the period. Adjustments resulting from the translation of the financial statements of Opiant Pharmaceuticals UK Limited (“Opiant UK”), into U.S. dollars, the reporting currency, are excluded from the determination of net loss and are recorded in accumulated other comprehensive loss, a separate component of equity. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption. Recently Adopted Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption. The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its consolidated financial statements.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets As of March 31, 2020 , the Company had approximately $ 1.0 million recorded as prepaid expenses and other current assets. The Company's prepaid amounts are primarily for insurance, advance research and development payments, prepaid rent, and other amounts paid that relate to future periods of service. Other current assets are primarily items such as security deposits and other receivables.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Accounts Receivable	Accounts Receivable As of March 31, 2020 and December 31, 2019, the Company had accounts receivable of $4.2 million and $7.2 million respectively, which relates to royalty revenue from the sales of NARCAN®.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Leases On January 1, 2019, the Company adopted a new accounting standard, Topic 842, that amends the guidance for the accounting and reporting of leases. Leases with terms of 12 months or less are expensed on a straight-line basis over the term and are not recorded in the Company's Condensed Consolidated Balance Sheets. The Company entered into two operating leases during 2019 with terms greater than 12 months. In accordance with the guidance of Topic 842, the two leases which are classed as operating leases are included in the Company's Condensed Consolidated Balance Sheet as of March 31, 2020. The Company's two operating leases do not include options to renew, do not contain residual value guarantees, do not have variable lease components, or impose significant restrictions or covenants. Right of use assets, "ROU assets", represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments over the respective lease term, with the ROU asset adjusted for deferred rent liability. Lease expense is recognized on a straight line basis over the lease term. As the implicit rate on the leases is not determinable, the Company used an estimated incremental borrowing rate of 9% as the discount rate to determine the present value of lease payments. The weighted average discount rate used was 9% and the weighted average remaining lease term is 1.3 years . The ROU asset and corresponding operating lease liability recognized at lease inception in 2019 was $0.9 million . The following table summarizes information related to the Company's two operating leases and are included in the Company's Balance Sheet as of March 31, 2020. Balance Sheet descriptions March 31, 2020 Assets: (in thousands) Right of use assets - operating leases $ 628 Liabilities: Operating leases - current $ 500 Operating leases - long term 131 Total lease liabilities: $ 631 The following table summarizes the components of operating lease cost for the three months ended March 31, 2020. Lease costs, (in thousands) Three months ended March 31, 2020 Operating expenses lease costs $ 141 As of March 31, 2020, future minimum operating leases payments related to the Company’s operating lease liabilities were as follows for the subsequent years ended December 31: (in thousands) March 31, 2020 2020 (nine months remaining) 392 2021 278 Total lease payments 670 Less imputed interest (39 ) Present value of operating lease liabilities $ 631

Revenue

Revenue	3 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Revenue	Revenue The Company's primary source of revenue is from royalty and milestone payments received from NARCAN® net sales by Adapt. During the three months ended March 31, 2020 and March 31, 2019 the Company recorded revenue of $4.2 million and $3.7 million , respectively, related to its agreement with Adapt. On September 19, 2018, the Company entered into a contract with the Biomedical Advanced Research and Development Authority (“BARDA”), which is part of the U.S. Health and Human Services Office of the Assistant Secretary for Preparedness and Response, to accelerate the Company’s development of OPTN003, its lead product candidate. OPTN003, nasal nalmefene, is a potent, long-acting opioid antagonist currently in development for the treatment of opioid overdose. The contract will provide potential funding up to a maximum of approximately $4.6 million and cover activities related to a potential New Drug Application submission for OPTN003 with the Food and Drug Administration. BARDA has awarded approximately $3.0 million of the contract through December 20, 2021, with the balance expected to be funded, subject to satisfactory project progress, availability of funds and certain other conditions. During the three months ended March 31, 2020 the Company recognized revenue of $8,223 related to this contract. Deferred revenue On April 17, 2018, the Company was awarded a grant of approximately $7.4 million from the National Institutes of Health’s National Institute on Drug Abuse, (NIDA). The grant provides the Company with additional resources for the ongoing development of OPNT003 (intranasal nalmefene), a long-lasting opioid antagonist for the treatment of opioid overdose. The Company has been awarded approximately $5.6 million through the period ending March 31, 2021, with the remaining $1.8 million balance expected to be funded, subject to available funds and satisfactory progress on the development of OPNT003. Government grants are agreements that generally provide cost reimbursement for certain types of expenditures in return for research and development activities over a contractually defined period. The Company recognized revenues from grants in the period during which the related costs were incurred, provided that the conditions under which the grants were provided had been met and only perfunctory obligations were outstanding. During the three months ended March 31, 2020 and 2019, the Company recognized revenue of $75.8 thousand and $1.6 million related to this grant. As of March 31, 2020 the Company had recorded all of its deferred revenue as a current liability because the Company expects to recognize all such deferred revenue as revenue during the next 12 months. The following is a summary of the Company’s deferred revenue activity as of March 31, 2020: (in thousands) NIDA Grant Total Balance as of December 31, 2019 $ 918 $ 918 Additions to deferred revenue — — Recognized as revenue (76 ) (76 ) Balance as of March 31, 2020 $ 842 $ 842

Royalty Payable

Royalty Payable	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
Royalty Payable	Royalty Payable The Company entered into various agreements and subsequently received funding from investors for use by the Company for the research and development of its Opioid Overdose Reversal Treatment Product ("OORTP"). In exchange for this funding, the Company agreed to provide investors with interest in the OORTP Net Profit generated from NARCAN® sales by Adapt into perpetuity. As of March 31, 2020 and December 31, 2019, the Company recorded a royalty payable of $0.9 million and $1.6 million , respectively.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock During the three months ended March 31, 2020, the Company issued 71,667 shares of Common Stock as a result of employee stock option exercises and warrant exercises, and received net cash proceeds of $0.7 million . Stock Options On September 8, 2017, the Company held its Annual Meeting of Stockholders (the “Annual Meeting”), at which time the 2017 Long-Term Incentive Plan ("2017 Plan") was approved by stockholder vote. The 2017 Plan allows the Company to grant both incentive stock options (“ISOs”) non-qualified stock options (“NSOs”), and restricted stock units ("RSUs") to purchase a maximum of 400,000 shares of the Company's Common Stock. Under the terms of the 2017 Plan, ISOs may only be granted to Company employees and directors, while NSOs may be granted to employees, directors, advisors, and consultants. The Board has the authority to determine to whom options will be granted, the number of options, the term, and the exercise price. Options are to be granted at an exercise price not less than fair value for an ISO or an NSO. The vesting period is normally over a period of four years from the vesting date. The contractual term of an option is no longer than ten years . As provided in the 2017 Plan, on January 1, 2020 the number of shares available for issuance was increased by 4% of the outstanding stock as of December 31, 2019, which represents an increase of 167,457 options. As of March 31, 2020, the Company has 223,181 shares available for future issuance under the 2017 Plan. Prior to adopting the 2017 Plan, the Company did not have a formal long-term incentive stock plan. Prior to the implementation of the 2017 Plan, the Company had discretion to provide designated employees of the Company and its affiliates, certain consultants, and advisors who perform services for the Company and its affiliates, and non-employee members of the Board and its affiliates with the opportunity to receive grants of non-qualified stock options (the "Pre-2017 Non-Qualified Stock Options"). All of the Pre-2017 Non-Qualified Stock Option Grants were intended to qualify as non-qualified stock options. There were no Pre-2017 Non-Qualified Stock Option Grants that were intended to qualify as incentive stock options. Pre-2017 Non-Qualified Stock Options As of December 31, 2019, the Company had outstanding Pre-2017 Non-Qualified Stock Options to purchase, in the aggregate, 2,500,500 shares of the Company's Common Stock. During the three months ended March 31, 2020, the Company did no t grant any Pre-2017 Non-Qualified Stock Options. Stock option activity for the Pre-2017 Non-Qualified Stock Options for the three months ended March 31, 2020 is presented in the table below: Number of Shares Weighted- average Exercise Price Weighted- average Remaining Contractual Term (years) Aggregate Intrinsic Value (in Thousands) Outstanding at December 31, 2019 2,500,500 $ 7.03 5.05 $ 18,426 Exercised (20,000 ) 9.50 Forfeited (15,000 ) 10.00 Outstanding at March 31, 2020 2,465,500 $ 6.99 4.85 $ 6,416 A summary of the status of the Company’s vested and non-vested Pre-2017 Non-Qualified Stock Options as of March 31, 2020 is presented below: Number of Options Weighted Average Grant Date Fair Value Vested at March 31, 2020 2,430,502 $ 6.95 Non-vested at March 31, 2020 34,998 $ 10.00 During the three months ended March 31, 2020 and 2019, the Company recognized approximately $1 thousand and $50 thousand respectively, of non-cash expense related to Pre-2017 Non-Qualified Stock Options granted in prior periods. As of March 31, 2020, there is no further compensation expense to be recognized for the Pre-2017 Non-Qualified Stock Options. The 2017 Plan During the three months ended March 31, 2020, the Company granted options to a number of employees and non-employees to purchase 100,100 shares of the Company’s Common Stock at exercise prices from $12.15 to $13.60 per share, which represents the closing price of the Company’s Common Stock on the date of the grants. These options were issued under the Company’s 2017 Plan and have ten -year terms. Options to existing employees vest as follows: 1/48 th of the option shares vest every month through the fourth anniversary of the grant date. Options issued to new employees vest as follows: 1/4 th of the option shares vest on the one year anniversary of the grant date, and then 1/48th of the option shares vest on such date every month thereafter through the fourth anniversary of the grant date. Options issued to non-employees vest 100% upon the one year anniversary from the grant date. The Company valued these options using the Black-Scholes option pricing model and estimated the fair value on the date of grant to be $1.1 million . The assumptions used in the valuation of options granted under the 2017 Plan during the three months ended March 31, 2020 are as follows: For the Three Months Ended March 31, 2020 Market value of stock on measurement date $12.15 to $13.60 Risk-free interest rate 1.14% to 1.68% Dividend yield — Volatility factor 94.1% to 101.21% Term 5.5 to 10 Years Stock option activity for options granted under the 2017 Plan during the three months ended March 31, 2020 is presented in the table below: Number of Options Outstanding Weighted-average Exercise Price Weighted-average Remaining Contractual Term (years) Aggregate Intrinsic Value (in Thousands) Balance at December 31, 2019 491,950 $ 24.08 8.43 $ 82 Annual additional options authorized — — Granted 100,100 $ 13.17 Exercised — — Forfeited (32,129 ) $ 16.64 Balance at March 31, 2020 559,921 $ 22.61 8.40 $ — A summary of the status of the Company’s vested and non-vested options granted under the 2017 Plan as of March 31, 2020 is presented in the following table: Number of Shares Weighted Average Grant Date Fair Value Per Share Vested 341,132 $ 27.15 Non-vested at March 31, 2020 218,789 $ 17.92 During the three months ended March 31, 2020 and 2019, the Company recognized approximately $0.7 million and $1.0 million of non-cash expense related to options granted under the 2017 Plan. As of March 31, 2020, there was approximately $2.4 million of unrecognized compensation costs related to non-vested stock options that were granted under the 2017 Plan. Restricted Stock Activity The following summarizes the restricted stock activity under the Company's 2017 Plan during the three months ended March 31, 2020: Number of Shares Weighted Average Issue Date Fair Value Per Share Restricted stock outstanding and unvested at December 31, 2019 27,000 $ 14.51 Restricted stock granted 26,100 $ 13.60 Restricted stock forfeited (13,500 ) $ 14.51 Restricted stock outstanding and unvested at March 31, 2020 39,600 $ 13.91 Twenty-five percent ( 25% ) of the restricted stock units will vest on the one (1) year anniversary of the vesting commencement date, and twenty-five percent ( 25% ) will vest annually thereafter on the same day as the vesting commencement date. During the three months ended March 31, 2020, the Company recognized approximately $38,000 of non-cash expense related to restricted stock units. As of March 31, 2020, there was $0.4 million of total unrecognized compensation cost related to restricted stock units. Warrants During the three months ended March 31, 2020, the Company did no t issue any warrants. Warrant activity for the three months ended March 31, 2020 is presented in the table below: Number of Shares Weighted- average Exercise Price Weighted- average Remaining Contractual Term (years) Aggregate Intrinsic Value (in Thousands) Outstanding at December 31, 2019 342,610 $ 9.77 3.71 $ 1,585 Exercised (59,510 ) $ 10.00 Forfeited (4,300 ) $ 10.00 Outstanding at March 31, 2020 278,800 $ 9.72 4.26 $ 61 Exercisable at March 31, 2020 278,800 $ 9.72 4.26 $ 61

Commitments

Commitments	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments Commitments The Company has entered into various agreements related to its business activities. The following is a summary of the Company’s commitments: Torreya Agreement The Company entered into a consulting agreement with Torreya Partners LLP ("Torreya"), a financial advisory firm, under which Torreya agreed to provide certain financial advisory services. The Company is required to pay fees equivalent to 3.375% of all amounts received by the Company from net sales of Narcan into perpetuity. During the three months ended March 31, 2020 and 2019, the Company recorded $129 thousand and $66 thousand , respectively of expense related to Torreya. Exclusive License and Collaboration Agreement On November 19, 2015, the Company entered into an exclusive license agreement and collaboration agreement (“LOI”) with a pharmaceutical company with certain desirable proprietary information. Pursuant to the agreement, the Company is obligated to issue shares of unregistered Common Stock upon the occurrence of various milestones. No shares were required to be issued under this agreement during the three months ended March 31, 2020 and 2019. Supply Agreement On June 22, 2017, the Company entered into a license agreement (the "License Agreement") and a related supply agreement (the “Supply Agreement”) with Aegis Therapeutics LLC ("Aegis") pursuant to which the Company was granted an exclusive license (the “License”) to Aegis’ proprietary chemically synthesizable delivery enhancement and stabilization agents, including, but not limited to, Aegis’ Intravail® absorption enhancement agents, ProTek® and HydroGel® (collectively, the “Technology”) to exploit (a) the Compounds (as such are defined in the License Agreement) and (b) a product containing a Compound and formulated using the Technology (“Product”), in each case of (a) and (b) for any and all purposes. The License Agreement restricts the Company's ability to manufacture any Aegis excipients included in the Technology (“Excipients”), except for certain instances of supply failure, supply shortage or termination of the Supply Agreement, and the Company shall obtain all supply of such Excipients from Aegis under the Supply Agreement. The License Agreement also restricts Aegis’s ability to compete with the Company worldwide with respect to the Exploitation (as defined in the License Agreement) of any therapeutic containing a Compound or derivative or active metabolite of a Compound without the Company's prior written consent. The effective date of the License Agreement and the Supply Agreement is January 1, 2017. As consideration for the grant of the License, the Company paid Aegis two immaterial upfront payments, of which the Company paid 50% by issuing the Company's Common Stock to Aegis, with the number of shares issued equal to 75% of the average closing price of the Company's Common Stock over the 20 trading days preceding the date of payment. The License Agreement also provides for (A) additional developmental milestone payments for each Product containing a different Compound equal to up to an aggregate of $1.8 million , (B) additional commercialization milestone payments for each Product containing a different Compound equal to up to an aggregate of $5.0 million , and (C) single low digit royalties on the Annual Net Sales (as defined in the License Agreement) of all Products during the Royalty Term (as defined in the License Agreement) according to a tiered royalty rate based on Annual Net Sales of the Products by the Company, the Company's sublicensees and affiliates. The Company shall also pay to Aegis a sublicense fee based on a sublicense rate negotiated in good faith by the parties. The License Agreement contains customary representations and warranties, ownership, patent rights, confidentiality, indemnification and insurance provisions. The License Agreement shall expire upon the expiration of the Company's obligation to pay royalties under such License Agreement; provided, however, that the Company shall have the right to terminate the License granted on a Product-by-Product or country-by-country basis upon 30 days’ prior written notice to Aegis. Under the terms of the Supply Agreement, Aegis shall deliver to the Company any preclinical, clinical and commercial supply of the Excipients, which Aegis sources from various contract manufacturers. The Supply Agreement has a term of 20 years but shall terminate automatically in the event of expiration or termination of the License Agreement or at any time upon the written agreement of both parties. The Supply Agreement contains customary provisions relating to pricing for such materials, forecasts, delivery, inspection, indemnification, insurance and representations, warranties and covenants. The Supply Agreement includes technology transfer provisions for the transfer of all materials and know-how specific to the manufacturing of the Excipients that is necessary or useful for the Company to manufacture such Excipients. The Company does not have the right to manufacture such Excipients except in the event that Aegis is unable to supply and sell any portion of the material to the Company (subject to a 60 -day cure period). Under the License Agreement, the Company will be required to pay Aegis $250 thousand upon the successful NDA filing. For the three months ended March 31, 2020, and 2019 the Company recorded zero and $225 thousand of expense associated with the License Agreement. Contingencies The Company may be subject to various legal proceedings and claims that arise in the ordinary course of business. The Company records a liability when it is probable that a loss will be incurred and the amount is reasonably estimable. There is significant judgment required in both the probability determination and as to whether an exposure can be reasonably estimated. If any legal matter, were resolved against the Company in a reporting period for amounts in excess of management’s expectations, the Company’s would reflect any potential claim in the consolidated financial statements for that reporting period. The Company and Emergent BioSolutions Inc., through its Adapt Pharma subsidiaries (collectively, “Plaintiffs”), filed complaints, in 2016 against Teva Pharmaceuticals Industries Ltd. (“Teva”), and in 2018 against Perrigo UK FINCO Limited Partnership (“Perrigo”), relating to Teva’s and Perrigo’s respective abbreviated new drug applications (each, an “ANDA”) seeking to market generic versions of NARCAN® (naloxone hydrochloride) Nasal Spray 4mg/spray. On February 12, 2020, Plaintiffs and Perrigo entered into a settlement agreement to resolve the ongoing litigation. Under the terms of the settlement, Perrigo has received a non-exclusive license under the Company's patents licensed to Adapt to make, have made and market its generic naloxone hydrochloride nasal spray under its own ANDA. Perrigo’s license will be effective as of January 5, 2033 or earlier under certain circumstances including circumstances related to the outcome of the current litigation against Teva or litigation against future ANDA filers. The Perrigo settlement agreement is subject to review by the U.S. Department of Justice and the Federal Trade Commission, and entry of an order dismissing the litigation by the U.S. District Court for the District of New Jersey. Closing arguments in the Teva trial were held on February 26, 2020. Plaintiffs also filed a complaint related to Teva’s ANDA seeking to market a generic version of NARCAN® (naloxone hydrochloride) Nasal Spray 2mg/spray and that matter is still pending.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On May 8, 2020, the Company received a letter from the FDA lifting the clinical hold, imposed by the FDA in January of 2020, on the pharmacokinetic study for the Company's lead product candidate, OPNT003, Nasal Nalmefene.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and the applicable rules and regulations of the SEC for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited consolidated financial statements at that date, but does not include all disclosures, including notes, required by GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to present fairly the Company's financial position as of March 31, 2020, results of its operations for the three months ended March 31, 2020 and 2019, and cash flows for the three months ended March 31, 2020 and 2019. The interim results are not necessarily indicative of the results for any future interim period or for the entire year. Certain prior period amounts have been reclassified to conform to current period presentation. These classifications have no effect on the previously reported net loss or loss per share. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Opiant Pharmaceuticals UK Limited, a company incorporated on November 4, 2016 under the England and Wales Companies Act of 2006. Intercompany balances and transactions are eliminated upon consolidation. The accompanying condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2019 included in the Company's Annual Report on Form 10-K filed with the SEC on March 4, 2020.
Use of Estimates	The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and reported amounts of expenses in the financial statements and accompanying notes. Actual results could differ from those estimates. Key estimates included in the financial statements include the valuation of: deferred income tax assets, equity instruments, stock-based compensation, acquired intangibles, and allowances for accounts receivable.
Cash and Cash Equivalents	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents were approximately $32.2 million and $31.0 million at March 31, 2020 and December 31, 2019, respectively. The Company maintains cash balances at financial institutions insured up to $250 thousand by the Federal Deposit Insurance Corporation. Balances in the UK are insured up to £85 thousand by the Financial Services Compensation Scheme (UK Equivalent). Although the Company’s cash balances exceeded these insured amounts at various times during the three months ended March 31, 2020, the Company has not experienced any losses on its deposits of cash and cash equivalents for the periods presented.
Loss Per Share	Basic and diluted loss per share is computed by dividing loss attributable to common stockholders by the weighted average number of shares of Common Stock outstanding during the period. Diluted weighted average shares outstanding for the three months ended March 31, 2020 and 2019 excludes 3.1 million and 3.6 million shares, underlying stock options and warrants, respectively, because the effects would be anti-dilutive due to the Company's net loss. Accordingly, basic and diluted loss per share is the same.
Foreign Currency Translation	The functional currency of our wholly-owned subsidiary, Opiant UK is the British Pounds, its local currency. Consequently, its assets and liabilities are translated at current rates of exchange at the balance sheet date. Income and expense items are translated at the average foreign currency exchange rates for the period. Adjustments resulting from the translation of the financial statements of Opiant Pharmaceuticals UK Limited (“Opiant UK”), into U.S. dollars, the reporting currency, are excluded from the determination of net loss and are recorded in accumulated other comprehensive loss, a separate component of equity. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income.
Accounting Pronouncements	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption. Recently Adopted Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, or FASB, or other standard setting bodies and adopted by us as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption. The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its consolidated financial statements.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Summary of Operating Leases	The following table summarizes information related to the Company's two operating leases and are included in the Company's Balance Sheet as of March 31, 2020. Balance Sheet descriptions March 31, 2020 Assets: (in thousands) Right of use assets - operating leases $ 628 Liabilities: Operating leases - current $ 500 Operating leases - long term 131 Total lease liabilities: $ 631
Summary of Components of Operating Lease Cost	The following table summarizes the components of operating lease cost for the three months ended March 31, 2020. Lease costs, (in thousands) Three months ended March 31, 2020 Operating expenses lease costs $ 141
Maturity of Operating Lease Liabilities	As of March 31, 2020, future minimum operating leases payments related to the Company’s operating lease liabilities were as follows for the subsequent years ended December 31: (in thousands) March 31, 2020 2020 (nine months remaining) 392 2021 278 Total lease payments 670 Less imputed interest (39 ) Present value of operating lease liabilities $ 631

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Schedule of Deferred Revenue Activity	The following is a summary of the Company’s deferred revenue activity as of March 31, 2020: (in thousands) NIDA Grant Total Balance as of December 31, 2019 $ 918 $ 918 Additions to deferred revenue — — Recognized as revenue (76 ) (76 ) Balance as of March 31, 2020 $ 842 $ 842

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Share-based Compensation, Stock Options, Activity	Stock option activity for the Pre-2017 Non-Qualified Stock Options for the three months ended March 31, 2020 is presented in the table below: Number of Shares Weighted- average Exercise Price Weighted- average Remaining Contractual Term (years) Aggregate Intrinsic Value (in Thousands) Outstanding at December 31, 2019 2,500,500 $ 7.03 5.05 $ 18,426 Exercised (20,000 ) 9.50 Forfeited (15,000 ) 10.00 Outstanding at March 31, 2020 2,465,500 $ 6.99 4.85 $ 6,416 Stock option activity for options granted under the 2017 Plan during the three months ended March 31, 2020 is presented in the table below: Number of Options Outstanding Weighted-average Exercise Price Weighted-average Remaining Contractual Term (years) Aggregate Intrinsic Value (in Thousands) Balance at December 31, 2019 491,950 $ 24.08 8.43 $ 82 Annual additional options authorized — — Granted 100,100 $ 13.17 Exercised — — Forfeited (32,129 ) $ 16.64 Balance at March 31, 2020 559,921 $ 22.61 8.40 $ — Warrant activity for the three months ended March 31, 2020 is presented in the table below: Number of Shares Weighted- average Exercise Price Weighted- average Remaining Contractual Term (years) Aggregate Intrinsic Value (in Thousands) Outstanding at December 31, 2019 342,610 $ 9.77 3.71 $ 1,585 Exercised (59,510 ) $ 10.00 Forfeited (4,300 ) $ 10.00 Outstanding at March 31, 2020 278,800 $ 9.72 4.26 $ 61 Exercisable at March 31, 2020 278,800 $ 9.72 4.26 $ 61
Schedule of Nonvested Share Activity	A summary of the status of the Company’s vested and non-vested Pre-2017 Non-Qualified Stock Options as of March 31, 2020 is presented below: Number of Options Weighted Average Grant Date Fair Value Vested at March 31, 2020 2,430,502 $ 6.95 Non-vested at March 31, 2020 34,998 $ 10.00 A summary of the status of the Company’s vested and non-vested options granted under the 2017 Plan as of March 31, 2020 is presented in the following table: Number of Shares Weighted Average Grant Date Fair Value Per Share Vested 341,132 $ 27.15 Non-vested at March 31, 2020 218,789 $ 17.92
Restricted Stock Activity	The following summarizes the restricted stock activity under the Company's 2017 Plan during the three months ended March 31, 2020: Number of Shares Weighted Average Issue Date Fair Value Per Share Restricted stock outstanding and unvested at December 31, 2019 27,000 $ 14.51 Restricted stock granted 26,100 $ 13.60 Restricted stock forfeited (13,500 ) $ 14.51 Restricted stock outstanding and unvested at March 31, 2020 39,600 $ 13.91
Schedule of Assumptions Used in the Valuation	The assumptions used in the valuation of options granted under the 2017 Plan during the three months ended March 31, 2020 are as follows: For the Three Months Ended March 31, 2020 Market value of stock on measurement date $12.15 to $13.60 Risk-free interest rate 1.14% to 1.68% Dividend yield — Volatility factor 94.1% to 101.21% Term 5.5 to 10 Years

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 32,197,521		$ 30,980,473
Antidilutive securities excluded from the computation of earnings per share (in shares)	3.1	3.6

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses and other current assets	$ 1,023,222	$ 1,055,816

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 4,205,306	$ 7,218,367
Royalty Revenue from Sales of NARCAN
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 4,200,000	$ 7,200,000

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)lease	Dec. 31, 2019USD ($)lease	Jan. 01, 2019USD ($)
Leases [Abstract]
Number operating leases | lease	2	2
Estimated incremental borrowing rate	9.00%
Operating lease, weighted average discount rate, percent	9.00%
Operating lease, weighted average remaining lease term	1 year 3 months 18 days
Right of use assets - operating leases	$ 627,563	$ 768,441	$ 900,000
Present value of operating lease liabilities	$ 631,000		$ 949,000

Leases - Balance Sheet Descript

Leases - Balance Sheet Descriptions of Operating Leases (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Assets:
Right of use assets - operating leases	$ 627,563	$ 768,441	$ 900,000
Liabilities:
Operating leases - current	499,901	516,931
Operating leases - long term	131,020	$ 254,664
Total lease liabilities:	$ 631,000		$ 949,000

Leases - Components of Operatin

Leases - Components of Operating Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Leases [Abstract]
Operating expenses lease costs	$ 141

Leases - Maturity of Operating

Leases - Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 01, 2019
Leases [Abstract]
2020 (nine months remaining)	$ 392
2021	278
Total lease payments	670
Less imputed interest	(39)
Present value of operating lease liabilities	$ 631	$ 949

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($)	Sep. 19, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Apr. 17, 2018
Deferred Revenue Arrangement [Line Items]
Revenue		$ 4,282,586	$ 5,435,444
Grants receivable							$ 7,400,000
BARDA | Plan
Deferred Revenue Arrangement [Line Items]
Proceeds from funding agreement	$ 4,600,000
BARDA | Forecast
Deferred Revenue Arrangement [Line Items]
Proceeds from funding agreement						$ 3,000,000
Research And Development Arrangement September 19, 2018
Deferred Revenue Arrangement [Line Items]
Revenue		8,223,000
Royalty and licensing revenue
Deferred Revenue Arrangement [Line Items]
Revenue		4,198,500	3,746,250
Grant
Deferred Revenue Arrangement [Line Items]
Revenue		75,800	1,600,000
Grant | Forecast
Deferred Revenue Arrangement [Line Items]
Revenue				$ 1,800,000	$ 5,600,000
Adapt | Royalty and licensing revenue
Deferred Revenue Arrangement [Line Items]
Revenue		$ 4,200,000	$ 3,700,000

Revenue - Summary of Deferred R

Revenue - Summary of Deferred Revenue Activity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Movement in Deferred Revenue [Roll Forward]
Balance as of December 31, 2019	$ 918
Additions to deferred revenue	0
Recognized as revenue	(76)
Balance as of March 31, 2020	842
NIDA Grant
Movement in Deferred Revenue [Roll Forward]
Balance as of December 31, 2019	918
Additions to deferred revenue	0
Recognized as revenue	(76)
Balance as of March 31, 2020	$ 842

Royalty Payable (Details)

Royalty Payable (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Royalty payable	$ 934,004	$ 1,620,182

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Stock newly-issued during the period (in shares)	71,667
Proceeds from stock option and warrant exercises	$ 685,101	$ 601,250

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options (Details) - 2017 Plan - shares	Jan. 01, 2020	Mar. 31, 2020	Sep. 08, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual additional options authorized (in shares)		0
Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum shares authorized (in shares)			400,000
Award vesting period		4 years
Expiration period		10 years
Percentage increase of authorized shares	4.00%
Annual additional options authorized (in shares)	167,457
Common Stock, Capital Shares Reserved for Future Issuance		223,181

Stockholders' Equity - Pre-2017

Stockholders' Equity - Pre-2017 Non-Qualified Stock Options, Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation from issuance of options	$ 686,599	$ 1,065,852
Pre-2017 Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	2,465,500		2,500,500
Options granted (in shares)	0
Pre-2017 Non-Qualified Stock Options | Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation from issuance of options	$ 1,000	$ 50,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Pre-2017 Non-Qualified Stock Options Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Number of Shares
Exercised (in shares)	(71,667)
Pre-2017 Non-Qualified Stock Options
Number of Shares
Outstanding at beginning of period (in shares)	2,500,500
Exercised (in shares)	(20,000)
Forfeited (in shares)	(15,000)
Outstanding at end of period (in shares)	2,465,500	2,500,500
Weighted- average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 7.03
Exercised (in dollars per share)	9.50
Forfeited (in dollars per share)	10
Outstanding at end of period (in dollars per share)	$ 6.99	$ 7.03
Weighted- average Remaining Contractual Term (years)
Outstanding	4 years 10 months 6 days	5 years 18 days
Aggregate Intrinsic Value (in Thousands)
Outstanding	$ 6,416	$ 18,426

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Pre-2017 Non-Qualified Stock Options Nonvested Share Activity (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Number of Shares
Vested (in shares) | shares	341,132
Weighted Average Grant Date Fair Value Per Share
Vested (in dollars per share) | $ / shares	$ 27.15
Pre-2017 Non-Qualified Stock Options
Number of Shares
Vested (in shares) | shares	2,430,502
Non-vested (in shares) | shares	34,998
Weighted Average Grant Date Fair Value Per Share
Vested (in dollars per share) | $ / shares	$ 6.95
Non-vested (in dollars per share) | $ / shares	$ 10

Stockholders' Equity - The 2017

Stockholders' Equity - The 2017 Plan, Additional Information (Details) - 2017 Plan - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2019	Mar. 31, 2020	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		100,100
Options granted, exercise price (in dollars per share)		$ 13.17
Compensation not yet recognized		$ 2.4
Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		100,100
Expiration period		10 years
Vesting percentage	2.0833%	100.00%
Fair value of option granted		$ 1.1
Stock based compensation expense		$ 0.7	$ 1
Options to purchase common stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, exercise price (in dollars per share)		$ 12.15
Options to purchase common stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, exercise price (in dollars per share)		$ 13.60

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of 2017 Plan Valuation Assumptions (Details) - 2017 Plan - Options to purchase common stock	3 Months Ended
	Mar. 31, 2020$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of stock on measurement date (in dollars per share)	$ 12.15
Risk-free interest rate	1.14%
Volatility factor	94.10%
Term	5 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of stock on measurement date (in dollars per share)	$ 13.60
Risk-free interest rate	1.68%
Volatility factor	101.21%
Term	10 years

Stockholders' Equity - Schedu_4

Stockholders' Equity - Schedule of 2017 Plan Options Outstanding (Details) - 2017 Plan - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Shares/Number of Options Outstanding
Outstanding at beginning of period (in shares)	491,950	491,950
Annual additional options authorized (in shares)		0
Granted (in shares)		100,100
Exercised (in shares)		0
Forfeited (in shares)		(32,129)
Outstanding at end of period (in shares)		559,921	491,950
Weighted- average Exercise Price
Outstanding (in dollars per share)		$ 22.61	$ 24.08
Granted (in dollars per share)		13.17
Exercised (in dollars per share)		0
Forfeited (in dollars per share)		$ 16.64
Weighted- average Remaining Contractual Term (years)
Outstanding		8 years 4 months 24 days		8 years 5 months 5 days
Aggregate Intrinsic Value (in Thousands)
Outstanding		$ 0	$ 82
Options to purchase common stock
Number of Shares/Number of Options Outstanding
Annual additional options authorized (in shares)	167,457
Granted (in shares)		100,100

Stockholders' Equity - Schedu_5

Stockholders' Equity - Schedule of 2017 Nonvested Share Activity (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Number of Shares
Vested (in shares) | shares	341,132
Weighted Average Grant Date Fair Value Per Share
Vested (in dollars per share) | $ / shares	$ 27.15
2017 Plan
Number of Shares
Non-vested (in shares) | shares	218,789
Weighted Average Grant Date Fair Value Per Share
Non-vested (in dollars per share) | $ / shares	$ 17.92

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock (Details) - Restricted stock $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Number of Shares
Outstanding at beginning of period (in shares) | shares	27,000
Issued (in shares) | shares	26,100
Forfeited (in shares) | shares	(13,500)
Outstanding at end of period (in shares) | shares	39,600
Weighted- average Exercise Price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 14.51
Issued (in dollars per share) | $ / shares	13.60
Forfeited (in dollars per share) | $ / shares	14.51
Outstanding at end of period (in dollars per share) | $ / shares	$ 13.91
Stock based compensation expense | $	$ 38
Compensation cost not yet recognized | $	$ 400
Tranche One
Weighted- average Exercise Price
Vesting percentage	25.00%
Tranche Two
Weighted- average Exercise Price
Vesting percentage	25.00%

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants, Additional Information (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Class of Warrant or Right [Line Items]
Warrants issued	$ 595,101
Warrants to purchase common stock
Class of Warrant or Right [Line Items]
Warrants issued	$ 0

Stockholders' Equity - Schedu_6

Stockholders' Equity - Schedule of Warrants Outstanding (Details) - Warrants to purchase common stock - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2018	Dec. 31, 2019
Number of Shares
Outstanding at beginning of period (in shares)	342,610
Exercised (in shares)	(59,510)
Forfeited (in shares)	(4,300)
Outstanding at end of period (in shares)	278,800
Exercisable (in shares)	278,800
Weighted- average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 9.77
Exercised (in dollars per share)	10
Forfeited (in dollars per share)	10
Outstanding at end of period (in dollars per share)	9.72
Exercisable (in dollars per share)	$ 9.72
Weighted- average Remaining Contractual Term (years)
Outstanding	4 years 3 months 4 days	3 years 8 months 16 days
Exercisable	4 years 3 months 4 days
Aggregate Intrinsic Value
Outstanding	$ 61		$ 1,585
Exercisable	$ 61

Commitments - Torreya Agreement

Commitments - Torreya Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Commitments [Line Items]
Additional consultant fee payable, percentage of perpetuity in excess of $3 million	3.375%
Advisory Services
Other Commitments [Line Items]
Sponsor fees	$ 129	$ 66

Commitments - Exclusive License

Commitments - Exclusive License and Collaboration Agreement (Details)	3 Months Ended
	Mar. 31, 2020shares
Letter of Intent
Other Commitments [Line Items]
Stock newly-issued during the period (in shares)	0

Commitments - Supply Agreement

Commitments - Supply Agreement (Details)	Jun. 22, 2017USD ($)trading_dayspayment	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Other Commitments [Line Items]
Non-cash lease expense		$ 117,895	$ 0
License Agreement
Other Commitments [Line Items]
Upfront payments | payment	2
Percent of upfront payments which may be paid by issuing common stock	50.00%
Percent of average share price	75.00%
Threshold trading days | trading_days	20
Maximum additional product milestone payments	$ 1,800,000
Maximum additional commercialization milestone payments	$ 5,000,000
Termination advance notice period	30 days
License agreement cost	$ 0
Non-cash lease expense		$ 0	$ 225,000
Supply Agreement
Other Commitments [Line Items]
Other commitment, period	20 years
Material cure period	60 days