Revance Therapeutics (RVNC) 10-Q 3 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 27, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Revance Therapeutics, Inc.
Entity Central Index Key	1,479,290
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		36,937,891

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 39,282	$ 282,896
Short-term investments	194,452	0
Prepaid expenses and other current assets	9,148	2,315
Total current assets	242,882	285,211
Property and equipment, net	12,196	9,250
Restricted cash	730	580
Other non-current assets	3,315	658
TOTAL ASSETS	259,123	295,699
CURRENT LIABILITIES
Accounts payable	5,435	6,805
Accruals and other current liabilities	13,569	12,225
Deferred revenue, current portion	9,320	0
Financing obligations	0	1,872
Total current liabilities	28,324	20,902
Derivative liability associated with Medicis settlement	2,717	2,613
Deferred revenue, net of current portion	14,800	0
Deferred rent	3,427	3,339
TOTAL LIABILITIES	49,268	26,854
Commitments and Contingencies (Note 8)
STOCKHOLDERS’ EQUITY
Common stock, par value $0.001 per share — 95,000,000 shares authorized as of June 30, 2018 and December 31, 2017; 36,917,723 and 36,516,075 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively	37	37
Additional paid-in capital	821,326	810,975
Accumulated other comprehensive loss	(224)	0
Accumulated deficit	(611,284)	(542,167)
TOTAL STOCKHOLDERS’ EQUITY	209,855	268,845
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 259,123	$ 295,699

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	95,000,000	95,000,000
Common stock, shares issued (in shares)	36,917,723	36,516,075
Common stock, shares outstanding (in shares)	36,917,723	36,516,075

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenue	$ 686	$ 75	$ 880	$ 150
Operating expenses:
Research and development	22,871	18,307	45,111	37,714
General and administrative	12,734	8,609	26,350	16,363
Total operating expenses	35,605	26,916	71,461	54,077
Loss from operations	(34,919)	(26,841)	(70,581)	(53,927)
Interest income	1,081	347	2,103	658
Interest expense	0	(141)	(44)	(335)
Change in fair value of derivative liability associated with Medicis settlement	(70)	(107)	(104)	(167)
Other expense, net	(172)	(132)	(492)	(258)
Net loss	(34,080)	(26,874)	(69,118)	(54,029)
Unrealized gain (loss) on available for sale securities	52	(17)	(224)	(69)
Comprehensive loss	(34,028)	(26,891)	(69,342)	(54,098)
Basic and Diluted net loss attributable to common stockholders	$ (34,080)	$ (26,874)	$ (69,118)	$ (54,029)
Basic and Diluted net loss per share attributable to common stockholders (Note 2) (in USD per share)	$ (0.94)	$ (0.90)	$ (1.92)	$ (1.84)
Basic and Diluted weighted-average number of shares used in computing net loss per share attributable to common stockholders (shares)	36,123,659	29,776,893	36,037,604	29,295,220

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (69,118)	$ (54,029)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	807	722
Amortization of premium (discount) on investment	(610)	326
Change in fair value of derivative liability associated with Medicis settlement	104	167
Stock-based compensation expense	8,330	6,674
Capitalized interest	(16)	(16)
Effective interest on financing obligations	44	155
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(6,970)	(1,139)
Other non-current assets	(2,291)	(504)
Accounts payable	(958)	469
Accruals and other liabilities	(1,143)	1,693
Deferred revenue	24,120	0
Net cash used in operating activities	(47,701)	(45,482)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(2,335)	(1,507)
Proceeds from maturities of investments	18,000	45,655
Proceeds from sales of property and equipment	146	0
Purchases of investments	(212,197)	(36,028)
Payment for acquisition of in-process research and development	(100)	(100)
Net cash provided by (used in) investing activities	(196,486)	8,020
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock, net of at-the-market offering commissions	0	29,100
Principal payments made on financing obligations	(932)	(1,842)
Net settlement of restricted stock awards for employee taxes	(1,813)	(397)
Proceeds from the exercise of stock options and employee stock purchase plan	3,834	1,561
Payment of offering costs	(366)	(267)
Net cash provided by financing activities	723	28,155
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(243,464)	(9,307)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	283,476	64,082
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	40,012	54,775
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	16	196
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:
Property and equipment purchases included in accounts payable and accruals and other current liabilities	2,128	68
Deferred offering costs	$ 0	$ 115

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	The Company and Basis of Presentation Revance Therapeutics, Inc., or the Company, was incorporated in Delaware on August 10, 1999 under the name Essentia Biosystems, Inc. The Company commenced operations in June 2002 and on April 19, 2005 , changed its name to Revance Therapeutics, Inc. The Company is a clinical-stage biotechnology company focused on the development, manufacturing and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic indications. The Company is leveraging its proprietary portfolio of botulinum toxin type A compounds, formulated with its patented and proprietary peptide technology, to address unmet needs in large and growing neuromodulator markets. The Company's proprietary peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical ("topical" or "our topical product candidate"). The Company is pursuing clinical development for RT002 injectable in a broad spectrum of aesthetic and therapeutic indications and is planning to conduct preclinical development of its topical product candidate. The Company holds worldwide rights for all indications of RT002 injectable and the pharmaceutical uses of its proprietary peptide technology. Since commencing operations in 2002, the Company has devoted substantially all of its efforts to identifying and developing product candidates for the aesthetic and therapeutic pharmaceutical markets, recruiting personnel and raising capital, and preclinical and clinical development of, and manufacturing development for, RT002 injectable and topical. The Company has never been profitable and has not yet commenced commercial operations. Since the Company's inception, the Company has incurred losses and negative cash flows from operations. The Company has not generated significant revenue from product sales to date and will continue to incur significant research and development and other expenses related to its ongoing operations. During the six months ended June 30, 2018 , the Company has recorded a net loss of $69.1 million and used $47.7 million of cash for operating activities. As of June 30, 2018 , the Company had a working capital surplus of $214.6 million and an accumulated deficit of $611.3 million . The Company has funded its operations primarily through the issuance and sale of common stock, convertible preferred stock, notes payable, and convertible notes. As of June 30, 2018 , the Company had capital resources consisting of cash, cash equivalents, and investments of $233.7 million . The Company believes that its existing cash, cash equivalents and investments will allow the Company to fund its operating plan through at least the next 12 months following the issuance of this Form 10-Q. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements, in the opinion of management, include all adjustments which the Company considers necessary for the fair statement of the Condensed Consolidated Balance Sheets at the date of the balance sheets and the Condensed Consolidated Statements of Operations and Comprehensive Loss and Condensed Consolidated Statements of Cash Flows for the interim periods covered. The Condensed Consolidated Balance Sheet for the year ended December 31, 2017 was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America, or US GAAP. The interim results presented herein are not necessarily indicative of the results of operations that may be expected for the full fiscal year ending December 31, 2018 , or any other future period. The Condensed Consolidated Financial Statements should be read in conjunction with the Company’s audited Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , which was filed with the Securities and Exchange Commission, or SEC, on March 2, 2018. The Condensed Consolidated Financial Statements of the Company include the Company’s accounts and those of its wholly-owned subsidiaries, Revance Therapeutics Limited and Revance International Limited, and have been prepared in conformity with accounting principles generally accepted in the United States of America, or US GAAP. The Company operates in one segment. Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of the company and its wholly-owned subsidiaries. All intercompany transactions have been eliminated. At-The-Market Offering In March 2016, the Company entered into an At-The-Market Issuance Sales Agreement, or the 2016 ATM Agreement, with Cowen and Company, LLC, or Cowen, under which the Company may offer and sell common stock having aggregate proceeds of up to $75.0 million from time to time through Cowen, the Company's sales agent. Sales of common stock through Cowen under the 2016 ATM agreement will be made by means of ordinary brokers’ transactions on the NASDAQ Global Market or otherwise at market prices prevailing at the time of sale, in block transactions, or as otherwise agreed upon by the Company and Cowen. Cowen will sell the common stock from time to time, based upon instructions from the Company. The Company agreed to pay Cowen a commission of up to 3.0% of the gross sales proceeds of any common stock sold through Cowen under the ATM Agreement. During the six months ended June 30, 2017 , the Company sold 1,413,051 shares of its common stock under the 2016 ATM Agreement at a weighted average price of $21.23 per share resulting in net proceeds of $28.6 million , which was comprised of gross proceeds after commissions of $29.1 million net of offering expenses of $0.5 million of which $0.2 million was paid in 2016 and $0.1 million remained unpaid as of June 30, 2017 . In March 2018, the Company terminated the 2016 ATM Agreement and entered into a Controlled Equity Offering sales agreement, or the 2018 ATM Agreement, with Cantor Fitzgerald & Co., or Cantor Fitzgerald, under which the Company may offer and sell common stock having aggregate proceeds of up to $125.0 million from time to time through Cantor Fitzgerald as our sales agent. Sales of common stock through Cantor Fitzgerald under the 2018 ATM Agreement will be made by means of ordinary brokers’ transactions on the NASDAQ Global Market or otherwise at market prices prevailing at the time of sale, in block transactions, or as otherwise agreed upon by the Company and Cantor Fitzgerald. Cantor Fitzgerald will sell the common stock from time to time, based upon instructions from the Company. The Company agreed to pay Cantor Fitzgerald a commission of up to 3.0% of the gross sales proceeds of any common stock sold through Cantor Fitzgerald under the 2018 ATM Agreement. No sales of common stock have taken place under the 2018 ATM Agreement as of June 30, 2018 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Significant accounting policies are described in Note 2 to the Consolidated Financial Statements in Item 15 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . There have been no changes to the Company’s significant accounting policies during the six months ended June 30, 2018 , except as described below. Use of Estimates The preparation of Condensed Consolidated Financial Statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Such management estimates include revenue recognition, deferred revenue, accruals, stock-based compensation, the fair value of a derivative liability, and the valuation of deferred tax assets. The Company bases its estimates on historical experience and on assumptions that it believes are reasonable, however, actual results could significantly differ from those estimates. Revenue Effective January 1, 2018, the Company adopted Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (ASC 606) using the full retrospective transition method. The Company evaluated its prior contractual revenue arrangement with Precision Dermatology, Inc., which was acquired by Valeant Pharmaceuticals International Inc., or Valeant, in 2014. After Valeant notified the Company that it intended to terminate the asset purchase and royalty agreement in 2015, the Company continued to receive royalties of $75,000 each quarter until November 2017 when the Company and Valeant entered into an Asset Transfer Agreement to finalize the termination of the asset purchase and royalty agreement and Valeant returned the Relastin® intellectual property rights to the Company. Based on its evaluation, the Company determined that the new guidance had no impact to the revenue recognized prior to January 1, 2018 and, accordingly, had no impact on the accumulated deficit as of January 1, 2018. The Company elected to use certain practical expedients permitted related to adoption (Note 3) and the adoption of ASC 606 had no impact on the Company’s financial position, results of operations or liquidity. This standard applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Under ASC 606, the Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Licenses of intellectual property If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenue from non-refundable, up-front fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are determined to not represent distinct performance obligations, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring proportional performance for purposes of recognizing revenue from non-refundable, up-front fees. The Company evaluates the measure of proportional performance each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Milestone payments At the inception of each arrangement that includes development, regulatory or commercial milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price. ASC 606 suggests two alternatives to use when estimating the amount of variable consideration: the expected value method and the most likely amount method. Under the expected value method, an entity considers the sum of probability-weighted amounts in a range of possible consideration amounts. Under the most likely amount method, an entity considers the single most likely amount in a range of possible consideration amounts. Whichever method is used should be consistently applied throughout the life of the contract; however, it is not necessary for the Company to use the same approach for all contracts. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The transaction price is then allocated to each performance obligation (as determined to be appropriate) on a relative stand-alone selling price basis. The Company recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company re-evaluates the probability or achievement of each such milestone and any related constraint, and if necessary, adjusts its estimates of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenues and earnings in the period of adjustment. Royalties For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Up-front payments and fees are recorded as deferred revenue upon receipt or when due, and may require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements. Amounts payable to the Company are recorded as accounts receivable when the Company’s right to consideration is unconditional. As a practical expedient, the Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less. Net Loss per Share Attributable to Common Stockholders The Company’s basic net loss per share attributable to common stockholders is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period, which includes vested restricted stock awards. The diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. The diluted net loss per share attributable to common stockholders also includes vested restricted stock awards and, if the effect is not anti-dilutive, unvested restricted stock awards. For purposes of this calculation, options to purchase common stock, unvested restricted stock, and common stock warrants are considered common stock equivalents. The following common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive: As of June 30, 2018 2017 Outstanding common stock options 3,530,799 3,372,698 Outstanding common stock warrants 34,113 61,595 Unvested restricted stock awards 668,619 553,283 Recently Adopted Accounting Pronouncements In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118. This standard amends Accounting Standards Codification 740, Income Taxes (ASC 740) to provide guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (the Tax Reform Act) pursuant to Staff Accounting Bulletin No. 118, which allows companies to complete the accounting under ASC 740 within a one-year measurement period from the Tax Act enactment date. This standard is effective upon issuance. As described in the footnotes to the Annual Report on Form 10-K, the Company’s accounting for the tax effects of enactment of the Tax Reform Act is being assessed; however, in certain cases, as described below, we made a reasonable estimate of the effects on our existing deferred tax balances and valuation allowance. The Company determined that the $62.9 million recorded in connection with the re-measurement of certain deferred tax assets and liabilities, and corresponding valuation allowance was a provisional amount and a reasonable estimate at December 31, 2017. The Company has not completed the accounting with regard to the tax effects associated with an intra-entity transfer of certain intellectual property rights with the enactment of Tax Reform Act. Our accounting for the intra-entity transfer reflects the utilization of net operating losses on the basis of the laws in effect before the Tax Reform Act. The Company is evaluating the impact under Tax Reform Act on the Company's global business structure. In all aspects, the Company will continue to make and refine calculations as additional analysis is completed. The Company expects to complete the accounting assessment during the one year measurement period provided by SAB 118. In May 2017, the FASB issued ASU 2017-09, Scope of Modification Accounting (Topic 718) , which amends the scope of modification accounting for share-based payment arrangements. The amendment provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. ASU 2017-09 is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The adoption of this standard on January 1, 2018 did not impact the Company's Condensed Consolidated Financial Statements. In October 2016, the FASB issued ASU 2016-16, Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory , which requires entities to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments in ASU 2016-16 are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods and requires a modified retrospective method of adoption. As of January 1, 2018, the Company adopted ASU 2016-16 and determined this standard did not have a financial statement impact on the Company's Condensed Consolidated Financial Statements as the Company has a full valuation allowance. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which sets forth a single, comprehensive revenue recognition model for all contracts with customers to improve comparability. Subsequently, the FASB issued several standards related to ASU 2014-09 (collectively, the “New Revenue Standard”), including the most recent ASU, ASU 2017-14, Income Statement - Reporting Comprehensive Income (Topic 220), and Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), which was issued in November 2017. The New Revenue Standard requires revenue recognition to depict the transfer of goods or services to customers in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. In addition, the New Revenue Standard requires expanded disclosures. This New Revenue Standard permits the use of either the retrospective or cumulative effect transition method when adopted. As of January 1, 2018, the Company adopted the New Revenue Standard on a retrospective basis and determined there was no material impact to the Company's Condensed Consolidated Financial Statements. Recent Accounting Pronouncements In July 2018, the FASB issued ASU 2018-10 Leases (Topic 842),Codification Improvements and ASU 2018-11 Leases (Topic 842), Targeted Improvements , to provide additional guidance for the adoption of Topic 842 . ASU 2018-10 clarifies certain provisions and correct unintended applications of the guidance such as the application of implicit rate, lessee reassessment of lease classification, and certain transition adjustments that should be recognized to earnings rather than to stockholders' equity. ASU 2018-11 provides an alternative transition method and practical expedient for separating contract components for the adoption of Topic 842 . In February 2016, the FASB issued ASU 2016-02 Leases (Topic 842) which requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases with terms greater than 12 months. ASU 2018-11, ASU 2018-10, and ASU 2016-02 (collectively, "the new lease standards") are effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the effect the new lease standards will have on its Condensed Consolidated Financial Statements; however, the Company anticipates recognizing assets and liabilities arising from any leases that meet the requirements under the new lease standards on the adoption date and including qualitative and quantitative disclosures in the Company’s Notes to the Condensed Consolidated Financial Statements. In July 2018, the FASB issued ASU 2018-09, Codification Improvements. The amendments in ASU 2018-09 affect a wide variety of Topics in the FASB Codification and apply to all reporting entities within the scope of the affected accounting guidance. The Company has evaluated ASU 2018-09 in its entirety and determined that the amendments related to Topic 718-740, Compensation-Stock Compensation-Income Taxes, are the only provisions that currently apply to the Company. The amendments in ASU 2018-09 related to Topic 718-740, Compensation-Stock Compensation-Income Taxes, clarify that an entity should recognize excess tax benefits related to stock compensation transactions in the period in which the amount of the deduction is determined. The amendments in ASU 2018-09 related to Topic 718-740 are effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company does not expect the adoption of the new standard to have a material impact on the Company's Condensed Consolidated Financial Statements. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, to expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees and supersedes the guidance in Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees . Under ASU 2018-07, equity-classified nonemployee share-based payment awards are measured at the grant date fair value on the grant date. The probability of satisfying performance conditions must be considered for equity-classified nonemployee share-based payment awards with such conditions. ASU 2018-07 is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the new standard on the Company's Condensed Consolidated Financial Statements. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , to address specific consequences of the Tax Reform Act. The update allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Reform Act. ASU 2018-02 is effective January 1, 2019, with early adoption permitted, and is to be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Reform Act is recognized. The Company is currently evaluating the impact of the new standard on the Company's Condensed Consolidated Financial Statements.

Collaboration and License Reven

Collaboration and License Revenue	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration and License Revenue	Collaboration and License Revenue Agreement Terms On February 28, 2018, the Company and Mylan Ireland Limited, or Mylan, a wholly-owned indirect subsidiary of Mylan N.V., entered into a collaboration agreement or the Mylan Collaboration, pursuant to which the Company and Mylan will collaborate exclusively, on a world-wide basis (excluding Japan), to develop, manufacture, and commercialize a biosimilar to the branded biologic product (onabotulinumtoxinA) marketed as BOTOX®. Under the Mylan Collaboration, the Company will be primarily responsible for (a) non-clinical development activities, (b) clinical development activities in North America, and (c) manufacturing and supply of clinical drug substance and drug product; and Mylan will be primarily responsible for (a) clinical development activities outside of North America (excluding Japan) (the “ex-U.S. Mylan territories”), (b) regulatory activities, and (c) commercialization for any approved product. The Company will be solely responsible for an initial portion of non-clinical development costs. The remaining portion of any non-clinical development costs and clinical development costs for obtaining approval in the U.S. and Europe will be shared equally between the parties, and Mylan will be responsible for all other clinical development costs and commercialization expenses. The Company and Mylan will form a joint steering committee, consisting of an equal number of members from the Company and Mylan, to oversee and manage the development, manufacture and commercialization of the biosimilar. The parties will also enter into a separate agreement, within six months, covering supply of drug substance and drug product. In addition, Mylan may elect to have the drug product manufactured by another party, including a third-party contract manufacturing organization or a Mylan affiliate; however, Mylan may not manufacture or have manufactured the drug substance, rights to which are retained by the Company. Under the Mylan Collaboration, the Company granted Mylan an exclusive, world-wide license (excluding Japan) to the Company’s intellectual property rights for the development and commercialization of the biosimilar. The Company retained all rights in Japan and has retained rights in the U.S. and ex-U.S. Mylan territories to develop and manufacture the biosimilar for Mylan to commercialize. Mylan paid the Company a non-refundable upfront payment of $25 million with contingent payments of up to $100 million in the aggregate, upon the achievement of specified clinical and regulatory (i.e. biosimilar biological pathway) milestones and of specified, tiered sales milestones of up to $225 million . The upfront payment does not represent a financing component for the transfer of goods or services. The contingent payments would be payable following Mylan's decision to continue development services for Initial Phase and Phase 3 clinical trials and upon meeting certain milestones. In addition, Mylan would pay the Company low to mid-double digit royalties on any sales of the biosimilar in the U.S., mid-double digit royalties on any sales in Europe, and high single digit royalties on any sales in other ex-U.S. Mylan territories. However, the Company agreed to waive royalties for U.S. sales, up to a limit of $50 million in annual sales, during the first approximately four years after commercialization to defray launch costs. The term of the collaboration will continue, on a country-by-country basis, in perpetuity until terminated by either party pursuant to the terms of the Mylan Collaboration. Either party may terminate the agreement for breach by, or bankruptcy of, the other party. Mylan may terminate the Mylan Collaboration if a biosimilar development pathway is not deemed viable, with such determination only occurring after an advisory meeting with the U.S. Food and Drug Administration, or FDA. Further, Mylan may terminate the Collaboration in its entirety or on a region-by-region basis. All rights, including licenses, and obligations terminate in the country or countries for which termination applies, with limited exceptions for royalty-bearing licenses to certain intellectual property rights, and rights to certain data, for the continued development and sale of the biosimilar in the country or countries for which termination applies. Revenue Recognition The Company identified the following material promises within the Agreement: (1) intellectual property license, or IP license, for technology and know-how related to the biosimilar, (2) the performance of initial development services for the biosimilar prior to the FDA advisory meeting, (3) the performance of development services, during the Initial Phase and Phase 3 clinical trials for the biosimilar through the filing of an Investigational New Drug, or IND, application by the Company, and (4) manufacturing services to provide drug substance or drug product during the initial development, development, and commercialization periods. The Company considered that the license has standalone functionality and is capable of being distinct. However, the Company determined that the license is not distinct from the development and manufacturing services within the context of the agreement because the development and manufacturing services significantly increase the utility of the intellectual property. Specifically, the Company’s development, manufacturing and commercialization license can only provide benefit to Mylan in combination with the Company’s development services during initial development, the Initial Phase study, and the Phase 3 study. The IP related to the biosimilar platform, which is proprietary to the Company, is the foundation for the development activities related to the treatment for all indications. The manufacturing services are a necessary and integral part of the development services as they could only be conducted utilizing the outcomes of these services. Given the development services under the Mylan Collaboration are expected to involve significant further development of the initial IP, the Company has concluded that the development and compound supply services are not distinct from the license, and thus the license, development services and compound supply services are combined into a single performance obligation. The nature of the combined performance obligation is to provide development and manufacturing services to Mylan under the arrangement. The Company, following an evaluation, determined that the Mylan Collaboration contains an option with a material right. The Company determined the Mylan Collaboration contains an option with a material right, because it includes consideration for the IP license, and provides economic value for the duration of the entire development period, defined as the initial development through regulatory approval. Further, in accordance with ASC 606, the Company elected to use a practical alternative to estimating the standalone fair value selling price of the material right, which is based on the cost of expected services to be provided for the duration of the contract. In accordance with ASC 606, transaction price is defined as the amount of consideration to which an entity expects to be entitled in exchange for promised goods or services to a customer. The Company estimated the transaction price for the Mylan Collaboration using the most likely amount method. In order to determine the transaction price, the Company evaluated all of the payments to be received during the duration of the contract, which included milestones and consideration payable by Mylan. The transaction price does not include considerations that are constrained, which could potentially result in the Company reversing future revenue. The initial estimated transaction price of $81 million included the $25 million upfront payment, $40 million of development milestones, and estimated variable consideration for cost-sharing payments from Mylan. The Company re-evaluates the transaction price in each reporting period and upon a change in circumstances, and during the three months ended June 30, 2018, the Company recognized a $0.6 million decrease in the estimated transaction price. As of June 30, 2018 , the transaction price allocated to undelivered performance obligations is $79.5 million . The Company estimates revenue recognized and deferred revenue based on the estimated cost of services incurred over the estimated cost of services to be provided for the development period. For the three and six months ended June 30, 2018 , the Company recognized revenue related to development services rendered of $0.7 million and $0.9 million , respectively. As of June 30, 2018 , the Company estimated short-term and long-term deferred revenue of $9.3 million and $14.8 million , respectively. The Company estimates that, if the option is exercised, long-term deferred revenue will be recognized over the completion of the Initial Phase and Phase 3 study development period. Nonetheless, it is reasonably possible that our estimated cost of total services to be provided could change.

Medicis Settlement

Medicis Settlement	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Medicis Settlement	Medicis Settlement In July 2009, the Company entered into a license agreement with Medicis Pharmaceutical Corporation, or Medicis, granting Medicis worldwide aesthetic and dermatological rights to the Company’s investigational botulinum toxin type A product candidates. In October 2012, the Company entered into a settlement and termination agreement with Medicis. The terms of the settlement provided for the reacquisition of the rights related to all territories of RT002 injectable and RT001 topical from Medicis and for consideration payable by the Company to Medicis of up to $25.0 million , comprised of (i) an upfront payment of $7.0 million , which was paid in 2012, (ii) a proceeds sharing arrangement payment of $14.0 million due upon specified capital raising achievements by the Company, of which $6.9 million was paid in 2013 and $7.1 million in 2014, and (iii) a Product Approval Payment of $4.0 million to be paid upon the achievement of regulatory approval for RT002 injectable or RT001 topical by the Company. Medicis was subsequently acquired by Valeant Pharmaceuticals International, Inc. in December 2012. The Company determined that the settlement provisions related to the proceeds sharing arrangement payment in (ii) above and Product Approval Payment in (iii) above were derivative instruments that require fair value accounting as a liability and periodic fair value remeasurements until settled. As of June 30, 2018 , the Company determined the fair value of its liability for the Product Approval Payment was $2.7 million , which was measured by assuming a term of 2 years, a risk-free rate of 2.52% and a credit risk adjustment of 6.00% . The Company’s assumption for the expected term is based on an expected Biologics License Application, or BLA, approval in 2020. The Company did not make any payments under the Product Approval Payment during the six months ended June 30, 2018 .

Cash Equivalents and Investment

Cash Equivalents and Investments	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Investments	Cash Equivalents and Investments The Company's cash equivalents and investments consist of money market funds, U.S. treasury securities, and U.S. government agency obligations, which are classified as available-for-sale securities. The following table is a summary of amortized cost, unrealized gain and loss, and fair value (in thousands): June 30, 2018 December 31, 2017 Gross Unrealized Gross Unrealized Cost Gains Losses Fair Value Cost Gains Losses Fair Value Money market funds $ 34,884 $ — $ — $ 34,884 $ 236,744 $ — $ — $ 236,744 U.S. treasury securities 115,818 — (137 ) 115,681 — — — — U.S. government agency obligations 78,858 — (87 ) 78,771 — — — — Total cash equivalents and available-for-sale securities $ 229,560 $ — $ (224 ) $ 229,336 $ 236,744 $ — $ — $ 236,744 Classified as: Cash equivalents $ 34,884 $ 236,744 Short-term investments 194,452 — Total cash equivalents and available-for-sale securities $ 229,336 $ 236,744 There have been no significant realized gains or losses on available-for-sale securities for the periods presented. No significant available-for-sale securities held as of June 30, 2018 have been in a continuous unrealized loss position for more than 12 months, and unrealized gains and losses are included in “accumulated other comprehensive loss” within shareholders’ equity on the Condensed Consolidated Balance Sheets. As of June 30, 2018 , unrealized losses on available-for-sale investments are not attributed to credit risk and are considered temporary. The Company believes that it is more-likely-than-not that investments in an unrealized loss position will be held until maturity or the cost basis of the investment will be recovered. The Company believes it has no other-than-temporary impairments on its securities as it does not intend to sell these securities and does not believe it is more likely than not that it will be required to sell these securities before the recovery of their amortized cost basis. To date, the Company has not recorded any impairment charges on marketable securities related to other-than-temporary declines in fair value. Our cash equivalents and short-term investments are due within one year. Related Party Transactions Of the Company's total cash, cash equivalents, and short-term investments of $233.7 million and $282.9 million as of June 30, 2018 and December 31, 2017, respectively, the Company held cash equivalents and short-term investments with a total fair value of $116.6 million and $150.7 million , respectively, in an investment account with a prior related party, J.P. Morgan Securities LLC. As of December 31, 2017, JPMorgan Chase & Co. and its wholly owned subsidiaries JPMorgan Chase Bank, National Association (NA), J.P. Morgan Investment Management Inc., and JPMorgan Asset Management (UK) Limited held 9.75% of the Company's outstanding common stock. J.P. Morgan Securities LLC, who acts as a custodian and trustee for certain Company investments, is an affiliate of JPMorgan Chase Bank, NA. For the three and six months ended June 30, 2018 , J.P. Morgan Securities LLC. held less than 10% of the Company's outstanding common stock and is no longer considered a related party.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company determines the fair value of certain financial assets and liabilities using three levels of inputs as follows: • Level 1 — Observable inputs, such as quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 — Valuations based on unobservable inputs to the valuation methodology and including data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances. The carrying values of cash, prepaid expenses and other current assets, accounts payable, and accruals and other current liabilities approximate fair value due to the short maturities of these instruments. The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. The fair value of these instruments was as follows (in thousands): As of June 30, 2018 Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 34,884 $ 34,884 $ — $ — U.S. treasury securities 115,681 115,681 — — U.S. government agency obligations 78,771 — 78,771 — Total assets measured at fair value $ 229,336 $ 150,565 $ 78,771 $ — Liabilities Derivative liability associated with Medicis settlement $ 2,717 $ — $ — $ 2,717 Total liabilities measured at fair value $ 2,717 $ — $ — $ 2,717 As of December 31, 2017 Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 236,744 $ 236,744 $ — $ — Total assets measured at fair value $ 236,744 $ 236,744 $ — $ — Liabilities Derivative liability associated with Medicis settlement $ 2,613 $ — $ — $ 2,613 Total liabilities measured at fair value $ 2,613 $ — $ — $ 2,613 The fair value of the U.S. government agency obligations is estimated by taking into consideration valuations obtained from third-party pricing services. The pricing services utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities, prepayment/default projections based on historical data, and other observable inputs. Changes in the ability to observe valuation inputs may result in a reclassification of levels of certain securities within the fair value hierarchy. The Company did not transfer any assets or liabilities measured at fair value on a recurring basis between Level 1 and Level 2 during the six months ended June 30, 2018 and the year ended December 31, 2017 . The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows (in thousands): Derivative Liability Associated with Medicis Settlement Fair value as of December 31, 2017 $ 2,613 Change in fair value 104 Fair value as of June 30, 2018 $ 2,717 The fair value of the derivative liability resulting from the Medicis litigation settlement was determined by estimating the timing and probability of the related regulatory approval and multiplying the payment amount by this probability percentage and a discount factor based primarily on the estimated timing of the payment and a credit risk adjustment (Note 4). Generally, increases or decreases in these unobservable inputs would result in a directionally similar impact to the fair value measurement of this derivative instrument. The significant unobservable inputs used in the fair value measurement of the Product Approval Payment derivative are the expected timing and probability of the payments at the valuation date and the credit risk adjustment.

Notes Payable and Financing Obl

Notes Payable and Financing Obligations	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Notes Payable and Financing Obligations	Notes Payable and Financing Obligations Essex Capital Notes On December 20, 2013, the Company signed a Loan and Lease Agreement (Original Agreement) to borrow up to $10.8 million in the form of Secured Promissory Notes from Essex Capital, or the Essex Notes, to finance the completion and installation of the Company’s RT001 topical commercial fill/finish line, or the Fill/Finish Line. In December 2013 and January 2014, the Company withdrew a total of $5.0 million under the terms of the Original Agreement. In May 2014, pursuant to the terms of the Original Agreement, the Company sold equipment to Essex Capital, resulting in partial settlement of the outstanding loan balance of $1.1 million , and leased the equipment back for fixed monthly payments to be paid over 3 years. On December 17, 2014, the Company entered into the First Amendment to the Loan and Lease Agreement (First Amendment) with Essex Capital. Under the terms of the First Amendment, the Company agreed to repay the outstanding debt balance of $3.9 million and issued a warrant to purchase 44,753 shares of common stock. In February 2015, the Company executed the Second Amendment to the Loan and Lease Agreement (Second Amendment), under which the term of the facility was extended to April 15, 2015 and the purchase price for the remainder of the equipment was increased by $0.1 million to approximately $9.8 million . Concurrently with this sale, the Company leased the equipment back from Essex Capital for a fixed monthly payment to be paid monthly over 3 years. None of the leases qualified for sale-leaseback accounting due to the Company’s continuing involvement in the equipment. Therefore, the Company accounted for these transactions as financing obligations using the effective interest rate method. The leases provide for the option to purchase the leased equipment for 10% of the original purchase amount and, in June 2015, the Company exercised its option to purchase the remainder of the equipment sold and leased back from Essex Capital for 10% of the original purchase amount, or approximately $1.1 million , at the conclusion of the lease terms. In May 2017, the Company paid $0.1 million to purchase the equipment sold and leased back from Essex Capital in May 2014. The Company paid principal and interest payments on the Essex Capital Lease of $0.9 million during the first quarter of 2018. In April 2018, the Company paid $1.0 million to purchase the remaining equipment sold and leased back, which excludes sales and use taxes paid, from Essex Capital and there are no remaining commitments or liabilities payable to Essex Capital.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Facility Lease In January 2010, the Company entered into a non-cancelable facility lease (the "Lease") that requires monthly payments through January 2022. This facility is used for research, manufacturing, and administrative functions. In February 2014, the Company extended the term of the Lease by thirty-six ( 36 ) months to January 2025. In May 2018, the Company further extended the term of the Lease for its existing facility by twenty-four ( 24 ) months to January 2027 and amended the lease to expand the existing premises by approximately nineteen thousand square feet, commencing on January 1, 2019. Under the terms of the amended lease agreements, the payments escalate over the term of the lease with the exception of a decrease in payments at the beginning of 2022. The Company recognizes the expense on a straight-line basis over the life of the existing lease. Rent expense was $1.4 million and $1.3 million for the three months ended June 30, 2018 and 2017 , respectively, and $2.7 million and $2.6 million for the six months ended June 30, 2018 and 2017 , respectively. In November 2017, the Company entered into a non-cancelable equipment operating lease that requires sixty ( 60 ) equal monthly payments through October 2022. Lease payments total $0.2 million during the entire lease term. As of June 30, 2018 , the aggregate total future minimum lease payments under non-cancelable operating leases were as follows (in thousands): Year Ending December 31, 2018 $ 2,817 2019 6,399 2020 6,722 2021 6,920 2022 and thereafter 28,936 Total payments $ 51,794 Other Milestone-Based Commitments The Company has one remaining future milestone payment to List Laboratories of $2.0 million due and payable on the achievement of a certain regulatory milestone. The Company is also obligated to pay royalties to List Laboratories on future sales of botulinum toxin products. The Company has one remaining future milestone payment of $4.0 million due and payable to Valeant Pharmaceuticals International, Inc., which acquired Medicis in December 2012, upon the achievement of regulatory approval for RT002 injectable or RT001 topical (Note 4). In June 2016, the Company entered into an asset purchase agreement with Botulinum Toxin Research Associates, Inc., or BTRX (the "BTRX Purchase Agreement"). Under the BTRX Purchase Agreement, the Company acquired all rights, title and interest in a portfolio of botulinum toxin-related patents and patent applications from BTRX and was granted the right of first negotiation and first refusal with respect to other botulinum toxin-related patents owned or controlled by BTRX. In exchange, the Company agreed to an upfront expenditure of $2.0 million of which $1.8 million was paid immediately, $0.1 million was paid in June 2017, and the remaining $0.1 million was paid in May 2018. The Company also has obligations to pay Botulinum Toxin Research Associates, Inc. (BTRX) up to $16.0 million upon the satisfaction of specified milestones relating to the Company’s product revenue, intellectual property, and clinical and regulatory events. In April 2016, the Company entered into an agreement with BioSentinel, Inc. to in-license their technology and expertise for research and development and manufacturing purposes. In addition to minimum quarterly use fees, the Company has a one-time future milestone payment of $0.3 million payable to BioSentinel, Inc. upon the achievement of regulatory approval. The Company accrues for contingencies when it is probable that a loss has been incurred and the amount of loss can be reasonably estimated. The Company expects that contingencies related to regulatory approval milestones will only become probable once such regulatory outcome is achieved. Purchase Commitments On March 14, 2017, the Company entered into a Technology Transfer, Validation and Commercial Fill/Finish Services Agreement (the “Services Agreement”) and Statement of Work ("SoW") with Ajinomoto Althea, Inc., a contract development and manufacturing organization (“Althea”). Under the Services Agreement, Althea has agreed, among other things, to provide the Company with a future source of commercial fill/finish services for the Company’s neuromodulator products. The Services Agreement has an initial term that will expire in 2024, unless terminated sooner by either party. In accordance with the Services Agreement, the Company will have minimum purchase obligations based on its production forecasts. Since inception of the Services Agreement through June 30, 2018 , the Company has made non-refundable advanced payments of $1.6 million in accordance with the terms of this arrangement. The advanced payments are amortized and recorded to expenses over the period the services are rendered by Althea. The remaining services are cancellable at any time, with the Company required to pay costs incurred through the cancellation date. Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. The Company is not subject to any known current pending legal matters or claims that would have a material adverse effect on its financial position, results of operations or cash flows. Indemnification The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claim by any third party with respect to its technology. The term of these indemnification agreements is generally perpetual after the execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future, but have not yet been made. The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify them against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual. No amounts associated with such indemnifications have been recorded during the three and six months ended June 30, 2018 .

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Convertible Preferred Stock As of June 30, 2018 and December 31, 2017 , the Company had 5,000,000 shares of convertible preferred stock authorized with a par value of $0.001 per share and no preferred stock issued and outstanding. Warrants As of June 30, 2018 and December 31, 2017 , the Company had outstanding warrants to purchase 34,113 shares of common stock at an exercise price per share of $14.95 . Stock Option Plan 2014 Equity Incentive Plan and 2014 Inducement Plan On January 1, 2018, the number of shares of common stock reserved for issuance under the Company’s 2014 Equity Incentive Plan, or 2014 EIP, automatically increased by 4% of the total number of shares of the Company’s common stock outstanding on December 31, 2017, or 1,460,643 shares. During the six months ended June 30, 2018 , the Company granted stock options for 744,450 shares of common stock and 261,650 restricted stock awards under the 2014 EIP. As of June 30, 2018 , there were 1,784,532 shares available for issuance under the 2014 EIP. During the six months ended June 30, 2018 , there were 110,000 stock options and 16,000 restricted stock awards granted under the 2014 Inducement Plan (the "2014 IN"). As of June 30, 2018 , there were 167,392 shares available for issuance under the 2014 IN. The grant-date fair value of the employee stock options under the 2014 EIP and 2014 IN was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three Months Ended Six Months Ended 2018 2017 2018 2017 Expected term (in years) 6.0 6.0 6.0 6.0 Expected volatility 60.2 % 67.0 % 60.7 % 68.1 % Risk-free interest rate 2.8 % 2.0 % 2.7 % 2.1 % Expected dividend rate — % — % — % — % Fair Value of Common Stock . The fair value of the shares of common stock is based on the Company's stock price as quoted by the NASDAQ. Expected Term . The expected term for employees and non-employee directors is based on the simplified method, as the Company’s stock options have the following characteristics: (i) granted at-the-money; (ii) exercisability is conditioned upon service through the vesting date; (iii) termination of service prior to vesting results in forfeiture; (iv) limited exercise period following termination of service; and (v) options are non-transferable and non-hedgeable, or “plain vanilla” options, and the Company has a limited history of exercise data. The expected term for non-employee consultants is based on the remaining contractual term. Expected Volatility . The expected volatility is based on the historical volatility of a group of similar entities combined with the historical volatility of the Company. In evaluating similarity, the Company considered factors such as industry, stage of life cycle, capital structure, and size. Risk-Free Interest Rate . The risk-free interest rate is based on U.S. Treasury constant maturity rates with remaining terms similar to the expected term of the options. Expected Dividend Rate . The Company has not and does not plan to pay dividends in the foreseeable future, and therefore used an expected dividend rate of zero percent in the valuation model. Forfeitures. The Company accounts for forfeitures as they occur. During the three and six months ended June 30, 2018 , the Company issued and had outstanding options and awards for non-employee consultants which have continued to vest in accordance with the 2014 EIP. During the three and six months ended June 30, 2017 , there were outstanding options and awards issued to non-employee consultants which have continued to vest in accordance with the 2014 EIP. The fair value of the stock options outstanding for non-employee consultants is calculated at each reporting date using the Black-Scholes option pricing model with the following weighted-average assumptions: Three Months Ended Six Months Ended 2018 2017 2018 2017 Expected term (in years) 9.0 9.0 8.9 9.0 Expected volatility 63.8 % 70.0 % 63.9 % 70.0 % Risk-free interest rate 2.9 % 2.2 % 2.8 % 2.2 % Expected dividend rate — % — % — % — % 2014 Employee Stock Purchase Plan On January 1, 2018, the number of shares of common stock reserved for issuance under the Company’s 2014 Employee Stock Purchase Plan, or 2014 ESPP, automatically increased by the maximum of 300,000 shares. As of June 30, 2018 , there were 1,198,039 shares available for issuance under the 2014 ESPP. The fair value of the option component of the shares purchased under the 2014 ESPP was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three and Six Months Ended 2018 2017 Expected term (in years) 0.5 0.5 Expected volatility 59.3 % 72.4 % Risk-free interest rate 1.6 % 0.7 % Expected dividend rate — % — % Fair Value of Common Stock . The fair value of the shares of common stock is based on the Company’s stock price. Expected Term . The expected term is based on the term of the purchase period under the 2014 ESPP. Expected Volatility . The expected volatility is based on the historical volatility of the Company's common stock. Risk-Free Interest Rate . The risk-free interest rate is based on U.S. Treasury constant maturity rates with remaining terms similar to the expected term. Expected Dividend Rate . The Company has never paid dividends and does not plan to pay dividends in the foreseeable future, and therefore used an expected dividend rate of zero percent in the valuation model. Total Stock-Based Compensation Total stock-based compensation expense related to options, restricted stock awards, and ESPP for employees, non-employee directors, and non-employee consultants was allocated as follows (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Research and development $ 1,868 $ 1,504 $ 3,791 $ 2,808 General and administrative 2,304 2,015 4,539 3,866 Total stock-based compensation expense $ 4,172 $ 3,519 $ 8,330 $ 6,674

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of Condensed Consolidated Financial Statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Such management estimates include revenue recognition, deferred revenue, accruals, stock-based compensation, the fair value of a derivative liability, and the valuation of deferred tax assets. The Company bases its estimates on historical experience and on assumptions that it believes are reasonable, however, actual results could significantly differ from those estimates.
Revenue	Revenue Effective January 1, 2018, the Company adopted Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (ASC 606) using the full retrospective transition method. The Company evaluated its prior contractual revenue arrangement with Precision Dermatology, Inc., which was acquired by Valeant Pharmaceuticals International Inc., or Valeant, in 2014. After Valeant notified the Company that it intended to terminate the asset purchase and royalty agreement in 2015, the Company continued to receive royalties of $75,000 each quarter until November 2017 when the Company and Valeant entered into an Asset Transfer Agreement to finalize the termination of the asset purchase and royalty agreement and Valeant returned the Relastin® intellectual property rights to the Company. Based on its evaluation, the Company determined that the new guidance had no impact to the revenue recognized prior to January 1, 2018 and, accordingly, had no impact on the accumulated deficit as of January 1, 2018. The Company elected to use certain practical expedients permitted related to adoption (Note 3) and the adoption of ASC 606 had no impact on the Company’s financial position, results of operations or liquidity. This standard applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Under ASC 606, the Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Licenses of intellectual property If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenue from non-refundable, up-front fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are determined to not represent distinct performance obligations, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring proportional performance for purposes of recognizing revenue from non-refundable, up-front fees. The Company evaluates the measure of proportional performance each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Milestone payments At the inception of each arrangement that includes development, regulatory or commercial milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price. ASC 606 suggests two alternatives to use when estimating the amount of variable consideration: the expected value method and the most likely amount method. Under the expected value method, an entity considers the sum of probability-weighted amounts in a range of possible consideration amounts. Under the most likely amount method, an entity considers the single most likely amount in a range of possible consideration amounts. Whichever method is used should be consistently applied throughout the life of the contract; however, it is not necessary for the Company to use the same approach for all contracts. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The transaction price is then allocated to each performance obligation (as determined to be appropriate) on a relative stand-alone selling price basis. The Company recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company re-evaluates the probability or achievement of each such milestone and any related constraint, and if necessary, adjusts its estimates of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenues and earnings in the period of adjustment. Royalties For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Up-front payments and fees are recorded as deferred revenue upon receipt or when due, and may require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements. Amounts payable to the Company are recorded as accounts receivable when the Company’s right to consideration is unconditional. As a practical expedient, the Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.
Net Loss per Share Attributable to Common Stockholders	Net Loss per Share Attributable to Common Stockholders The Company’s basic net loss per share attributable to common stockholders is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period, which includes vested restricted stock awards. The diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. The diluted net loss per share attributable to common stockholders also includes vested restricted stock awards and, if the effect is not anti-dilutive, unvested restricted stock awards. For purposes of this calculation, options to purchase common stock, unvested restricted stock, and common stock warrants are considered common stock equivalents.
Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118. This standard amends Accounting Standards Codification 740, Income Taxes (ASC 740) to provide guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (the Tax Reform Act) pursuant to Staff Accounting Bulletin No. 118, which allows companies to complete the accounting under ASC 740 within a one-year measurement period from the Tax Act enactment date. This standard is effective upon issuance. As described in the footnotes to the Annual Report on Form 10-K, the Company’s accounting for the tax effects of enactment of the Tax Reform Act is being assessed; however, in certain cases, as described below, we made a reasonable estimate of the effects on our existing deferred tax balances and valuation allowance. The Company determined that the $62.9 million recorded in connection with the re-measurement of certain deferred tax assets and liabilities, and corresponding valuation allowance was a provisional amount and a reasonable estimate at December 31, 2017. The Company has not completed the accounting with regard to the tax effects associated with an intra-entity transfer of certain intellectual property rights with the enactment of Tax Reform Act. Our accounting for the intra-entity transfer reflects the utilization of net operating losses on the basis of the laws in effect before the Tax Reform Act. The Company is evaluating the impact under Tax Reform Act on the Company's global business structure. In all aspects, the Company will continue to make and refine calculations as additional analysis is completed. The Company expects to complete the accounting assessment during the one year measurement period provided by SAB 118. In May 2017, the FASB issued ASU 2017-09, Scope of Modification Accounting (Topic 718) , which amends the scope of modification accounting for share-based payment arrangements. The amendment provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. ASU 2017-09 is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The adoption of this standard on January 1, 2018 did not impact the Company's Condensed Consolidated Financial Statements. In October 2016, the FASB issued ASU 2016-16, Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory , which requires entities to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments in ASU 2016-16 are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods and requires a modified retrospective method of adoption. As of January 1, 2018, the Company adopted ASU 2016-16 and determined this standard did not have a financial statement impact on the Company's Condensed Consolidated Financial Statements as the Company has a full valuation allowance. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which sets forth a single, comprehensive revenue recognition model for all contracts with customers to improve comparability. Subsequently, the FASB issued several standards related to ASU 2014-09 (collectively, the “New Revenue Standard”), including the most recent ASU, ASU 2017-14, Income Statement - Reporting Comprehensive Income (Topic 220), and Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), which was issued in November 2017. The New Revenue Standard requires revenue recognition to depict the transfer of goods or services to customers in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. In addition, the New Revenue Standard requires expanded disclosures. This New Revenue Standard permits the use of either the retrospective or cumulative effect transition method when adopted. As of January 1, 2018, the Company adopted the New Revenue Standard on a retrospective basis and determined there was no material impact to the Company's Condensed Consolidated Financial Statements. Recent Accounting Pronouncements In July 2018, the FASB issued ASU 2018-10 Leases (Topic 842),Codification Improvements and ASU 2018-11 Leases (Topic 842), Targeted Improvements , to provide additional guidance for the adoption of Topic 842 . ASU 2018-10 clarifies certain provisions and correct unintended applications of the guidance such as the application of implicit rate, lessee reassessment of lease classification, and certain transition adjustments that should be recognized to earnings rather than to stockholders' equity. ASU 2018-11 provides an alternative transition method and practical expedient for separating contract components for the adoption of Topic 842 . In February 2016, the FASB issued ASU 2016-02 Leases (Topic 842) which requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases with terms greater than 12 months. ASU 2018-11, ASU 2018-10, and ASU 2016-02 (collectively, "the new lease standards") are effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the effect the new lease standards will have on its Condensed Consolidated Financial Statements; however, the Company anticipates recognizing assets and liabilities arising from any leases that meet the requirements under the new lease standards on the adoption date and including qualitative and quantitative disclosures in the Company’s Notes to the Condensed Consolidated Financial Statements. In July 2018, the FASB issued ASU 2018-09, Codification Improvements. The amendments in ASU 2018-09 affect a wide variety of Topics in the FASB Codification and apply to all reporting entities within the scope of the affected accounting guidance. The Company has evaluated ASU 2018-09 in its entirety and determined that the amendments related to Topic 718-740, Compensation-Stock Compensation-Income Taxes, are the only provisions that currently apply to the Company. The amendments in ASU 2018-09 related to Topic 718-740, Compensation-Stock Compensation-Income Taxes, clarify that an entity should recognize excess tax benefits related to stock compensation transactions in the period in which the amount of the deduction is determined. The amendments in ASU 2018-09 related to Topic 718-740 are effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company does not expect the adoption of the new standard to have a material impact on the Company's Condensed Consolidated Financial Statements. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, to expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees and supersedes the guidance in Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees . Under ASU 2018-07, equity-classified nonemployee share-based payment awards are measured at the grant date fair value on the grant date. The probability of satisfying performance conditions must be considered for equity-classified nonemployee share-based payment awards with such conditions. ASU 2018-07 is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the new standard on the Company's Condensed Consolidated Financial Statements. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , to address specific consequences of the Tax Reform Act. The update allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Reform Act. ASU 2018-02 is effective January 1, 2019, with early adoption permitted, and is to be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Reform Act is recognized. The Company is currently evaluating the impact of the new standard on the Company's Condensed Consolidated Financial Statements.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Summary of Common Stock Equivalents Excluded from Computation of Diluted Net Income (Loss) Per Share	The following common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive: As of June 30, 2018 2017 Outstanding common stock options 3,530,799 3,372,698 Outstanding common stock warrants 34,113 61,595 Unvested restricted stock awards 668,619 553,283

Cash Equivalents and Investme17

Cash Equivalents and Investments (Tables)	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities	The following table is a summary of amortized cost, unrealized gain and loss, and fair value (in thousands): June 30, 2018 December 31, 2017 Gross Unrealized Gross Unrealized Cost Gains Losses Fair Value Cost Gains Losses Fair Value Money market funds $ 34,884 $ — $ — $ 34,884 $ 236,744 $ — $ — $ 236,744 U.S. treasury securities 115,818 — (137 ) 115,681 — — — — U.S. government agency obligations 78,858 — (87 ) 78,771 — — — — Total cash equivalents and available-for-sale securities $ 229,560 $ — $ (224 ) $ 229,336 $ 236,744 $ — $ — $ 236,744 Classified as: Cash equivalents $ 34,884 $ 236,744 Short-term investments 194,452 — Total cash equivalents and available-for-sale securities $ 229,336 $ 236,744

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Instruments	The fair value of these instruments was as follows (in thousands): As of June 30, 2018 Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 34,884 $ 34,884 $ — $ — U.S. treasury securities 115,681 115,681 — — U.S. government agency obligations 78,771 — 78,771 — Total assets measured at fair value $ 229,336 $ 150,565 $ 78,771 $ — Liabilities Derivative liability associated with Medicis settlement $ 2,717 $ — $ — $ 2,717 Total liabilities measured at fair value $ 2,717 $ — $ — $ 2,717 As of December 31, 2017 Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 236,744 $ 236,744 $ — $ — Total assets measured at fair value $ 236,744 $ 236,744 $ — $ — Liabilities Derivative liability associated with Medicis settlement $ 2,613 $ — $ — $ 2,613 Total liabilities measured at fair value $ 2,613 $ — $ — $ 2,613
Summary of Changes in Fair Value of Financial Instruments	The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows (in thousands): Derivative Liability Associated with Medicis Settlement Fair value as of December 31, 2017 $ 2,613 Change in fair value 104 Fair value as of June 30, 2018 $ 2,717

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments under Non-Cancelable Operating Leases	As of June 30, 2018 , the aggregate total future minimum lease payments under non-cancelable operating leases were as follows (in thousands): Year Ending December 31, 2018 $ 2,817 2019 6,399 2020 6,722 2021 6,920 2022 and thereafter 28,936 Total payments $ 51,794

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Stock-based Compensation Expense	Total stock-based compensation expense related to options, restricted stock awards, and ESPP for employees, non-employee directors, and non-employee consultants was allocated as follows (in thousands): Three Months Ended Six Months Ended 2018 2017 2018 2017 Research and development $ 1,868 $ 1,504 $ 3,791 $ 2,808 General and administrative 2,304 2,015 4,539 3,866 Total stock-based compensation expense $ 4,172 $ 3,519 $ 8,330 $ 6,674
2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair Value Assumptions	The fair value of the option component of the shares purchased under the 2014 ESPP was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three and Six Months Ended 2018 2017 Expected term (in years) 0.5 0.5 Expected volatility 59.3 % 72.4 % Risk-free interest rate 1.6 % 0.7 % Expected dividend rate — % — %
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair Value Assumptions	The grant-date fair value of the employee stock options under the 2014 EIP and 2014 IN was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three Months Ended Six Months Ended 2018 2017 2018 2017 Expected term (in years) 6.0 6.0 6.0 6.0 Expected volatility 60.2 % 67.0 % 60.7 % 68.1 % Risk-free interest rate 2.8 % 2.0 % 2.7 % 2.1 % Expected dividend rate — % — % — % — %
Non-employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair Value Assumptions	The fair value of the stock options outstanding for non-employee consultants is calculated at each reporting date using the Black-Scholes option pricing model with the following weighted-average assumptions: Three Months Ended Six Months Ended 2018 2017 2018 2017 Expected term (in years) 9.0 9.0 8.9 9.0 Expected volatility 63.8 % 70.0 % 63.9 % 70.0 % Risk-free interest rate 2.9 % 2.2 % 2.8 % 2.2 % Expected dividend rate — % — % — % — %

The Company and Basis of Pres21

The Company and Basis of Presentation - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2016	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2016	Dec. 31, 2017
Class of Stock [Line Items]
Proceeds from issuance of common stock, net of at-the-market offering commissions					$ 0	$ 29,100,000
Company's incorporation date					Aug. 10, 1999
Commencement date of operations					Jun. 30, 2002
Change of entity name date					Apr. 19, 2005
Net loss			$ 34,080,000	$ 26,874,000	$ 69,118,000	54,029,000
Net cash used in operating activities					47,701,000	$ 45,482,000
Working capital surplus			214,600,000		214,600,000
Accumulated deficit			611,284,000		611,284,000			$ 542,167,000
Cash, cash equivalents, and short-term investments			$ 233,700,000		$ 233,700,000			$ 282,900,000
Cash and cash equivalents, and investments, expected funding term for operating plan					12 months
At the Market Offering
Class of Stock [Line Items]
Aggregate authorized offering price		$ 75,000,000
Commission (percent)		3.00%
Issuance of common stock (in shares)						1,413,051
Proceeds from issuance of common stock, net of at-the-market offering commissions						$ 28,600,000
Proceeds from issuance of common stock, net of commissions and offering costs						29,100,000
Stock offering expenses						500,000
Stock offering expenses paid							$ 200,000
Unpaid stock offering costs				$ 100,000		$ 100,000
Controlled Equity Offering
Class of Stock [Line Items]
Aggregate authorized offering price	$ 125,000,000
Weighted Average | At the Market Offering
Class of Stock [Line Items]
Offering price per share (in dollars per share)				$ 21.23		$ 21.23

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2017	Dec. 31, 2017
Accounting Policies [Abstract]
Quarterly royalty revenue received from Precision Dermatology, Inc.	$ 75
Adjustment to valuation allowance for change in deferred tax assets		$ (62,900)
Provisional estimate of reduction in deferred tax assets		$ 62,900

Summary of Significant Accoun23

Summary of Significant Accounting Policies - Summary of Common Stock Equivalents Exluded from Computation of Diluted Net Income (Loss) per Share (Details) - shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Outstanding common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents excluded from computation of diluted net income (loss) per share (in shares)	3,530,799	3,372,698
Outstanding common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents excluded from computation of diluted net income (loss) per share (in shares)	34,113	61,595
Unvested restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents excluded from computation of diluted net income (loss) per share (in shares)	668,619	553,283

Collaboration and License Rev24

Collaboration and License Revenue (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue recognized under milestone method		$ 700	$ 900
Deferred revenue, current portion		9,320	9,320	$ 0
Deferred revenue, net of current portion		14,800	14,800	$ 0
Mylan
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Non-refundable upfront payment	$ 25,000
Contingent payments	100,000
Revenue maximum for receipt of tiered milestone payments	225,000
Revenue maximum for waiver of royalties	50,000
Transaction price	81,000
Contract with customer, decrease in estimated transaction price		(600)
Remaining performance obligation		$ 79,500	$ 79,500
Development Milestones | Mylan
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue maximum for receipt of tiered milestone payments	$ 40,000

Medicis Settlement - Additional

Medicis Settlement - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Oct. 31, 2012	Jun. 30, 2018	Dec. 31, 2014	Dec. 31, 2013
Medicis Pharmaceutical Corporation
Settlement And Termination [Line Items]
Settlement consideration payable	$ 25
Upfront payment paid	7
Medicis Pharmaceutical Corporation | Proceeds Sharing Arrangement
Settlement And Termination [Line Items]
Settlement agreement, payable	$ 14
Settlement payment			$ 7.1	$ 6.9
Medicis Pharmaceutical Corporation | Product Approval Payment Derivative
Settlement And Termination [Line Items]
Derivative liability for the Product Approval Payment		$ 2.7
Remaining contractual term (in years)		2 years
Risk-free interest rate		2.52%
Fair value assumptions, credit risk adjustment (percent)		6.00%
Valeant Pharmaceuticals International, Inc. | Product Approval Payment Derivative
Settlement And Termination [Line Items]
Accrued milestone obligations		$ 4

Cash Equivalents and Investme26

Cash Equivalents and Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 229,560	$ 236,744
Gross unrealized gain	0	0
Gross unrealized loss	(224)	0
Available-for-sale securities, fair value	229,336	236,744
Cash equivalents
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value	34,884	236,744
Short-term investments
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, fair value	194,452	0
Money market funds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	34,884	236,744
Gross unrealized gain	0	0
Gross unrealized loss	0	0
Available-for-sale securities, fair value	34,884	236,744
U.S. treasury securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	115,818	0
Gross unrealized gain	0	0
Gross unrealized loss	(137)	0
Available-for-sale securities, fair value	115,681	0
U.S. government agency obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	78,858	0
Gross unrealized gain	0	0
Gross unrealized loss	(87)	0
Available-for-sale securities, fair value	$ 78,771	$ 0

Cash Equivalents and Investme27

Cash Equivalents and Investments - Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Cash, cash equivalents, and short-term investments	$ 233.7	$ 233.7	$ 282.9
J.P. Morgan Securities LLC [Member]
Related Party Transaction [Line Items]
Cash, cash equivalents, and short-term investments, fair value	$ 116.6	$ 116.6	$ 150.7
Percentage of outstanding common stock held by JP Morgan Chase			9.75%
Percent of outstanding common stock held by JP Morgan Chase during the period (less than 10% for all periods)	10.00%	10.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Instruments (Detail) - Recurring - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	$ 229,336	$ 236,744
Total liabilities measured at fair value	2,717	2,613
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	34,884	236,744
U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	115,681
U.S. government agency obligations
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	78,771
Derivative liability associated with Medicis settlement
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total liabilities measured at fair value	2,717	2,613
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	150,565	236,744
Total liabilities measured at fair value	0	0
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	34,884	236,744
Level 1 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	115,681
Level 1 | U.S. government agency obligations
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	0
Level 1 | Derivative liability associated with Medicis settlement
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total liabilities measured at fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	78,771	0
Total liabilities measured at fair value	0	0
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 2 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	0
Level 2 | U.S. government agency obligations
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	78,771
Level 2 | Derivative liability associated with Medicis settlement
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total liabilities measured at fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	0	0
Total liabilities measured at fair value	2,717	2,613
Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	0	0
Level 3 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	0
Level 3 | U.S. government agency obligations
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total assets measured at fair value	0
Level 3 | Derivative liability associated with Medicis settlement
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total liabilities measured at fair value	$ 2,717	$ 2,613

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Changes in Fair Value of Financial Instruments (Detail) - Derivative liability associated with Medicis settlement $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value as of December 31, 2017	$ 2,613
Change in fair value	104
Fair value as of June 30, 2018	$ 2,717

Notes Payable and Financing O30

Notes Payable and Financing Obligations - Essex Capital Notes (Detail) - Essex Notes - USD ($) $ in Millions	1 Months Ended							6 Months Ended
	Apr. 30, 2018	May 31, 2017	Jun. 30, 2015	Apr. 30, 2015	Feb. 28, 2015	May 31, 2014	Jan. 31, 2014	Jun. 30, 2018	Dec. 17, 2014	Dec. 20, 2013
Debt Instrument [Line Items]
Secured promissory notes, able to borrow, maximum										$ 10.8
Proceeds from loan and lease agreement							$ 5
Settlement of outstanding loan balance						$ 1.1
Lease period				3 years		3 years
Percentage of original purchase amount of asset at end of lease			10.00%			10.00%
Notes payable									$ 3.9
Shares available for purchase under common stock warrants (in shares)									44,753
Equipment purchased by third party, increase during period					$ 0.1
Equipment purchased by third party				$ 9.8
Purchase of equipment sold and leased back	$ 1	$ 0.1	$ 1.1
Principal and interest payments on capital lease								$ 0.9

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) ft² in Thousands	1 Months Ended					3 Months Ended		6 Months Ended
	May 31, 2018USD ($)ft²	Nov. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Feb. 28, 2014	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Loss Contingencies [Line Items]
Extended term of lease	24 months				36 months
Expanded area under lease | ft²	19
Rent expense						$ 1,400,000	$ 1,300,000	$ 2,700,000	$ 2,600,000
Research and development						22,871,000	$ 18,307,000	45,111,000	37,714,000
Payment for acquisition of in-process research and development								100,000	$ 100,000
Purchase commitments						1,600,000		1,600,000
Indemnification liability recorded during the period						0		0
Total lease payments						51,794,000		51,794,000
List Laboratories | Product Approval Payment Derivative
Loss Contingencies [Line Items]
Accrued milestone obligations						2,000,000		2,000,000
Valeant Pharmaceuticals International, Inc. | Product Approval Payment Derivative
Loss Contingencies [Line Items]
Accrued milestone obligations						4,000,000		4,000,000
Botulinum Toxin Research Associates, Inc.
Loss Contingencies [Line Items]
Accrued milestone obligations						16,000,000		16,000,000
BioSentinel, Inc.
Loss Contingencies [Line Items]
Accrued milestone obligations						$ 300,000		$ 300,000
Noncancelable Equipment Operating Lease
Loss Contingencies [Line Items]
Term of lease agreement		60 months
Total lease payments		$ 200,000
Botulinum Toxin Research Associates, Inc.
Loss Contingencies [Line Items]
Research and development				$ 2,000,000
Payment for acquisition of in-process research and development	$ 100,000		$ 100,000	$ 1,800,000

Commitments and Contingencies32

Commitments and Contingencies - Schedule of Future Minimum Lease Payments under Non-Cancelable Operating Leases (Detail) $ in Thousands	Jun. 30, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,018	$ 2,817
2,019	6,399
2,020	6,722
2,021	6,920
2022 and thereafter	28,936
Total payments	$ 51,794

Stockholders' Equity - Converti

Stockholders' Equity - Convertible Preferred Stock (Details) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Equity [Abstract]
Convertible preferred stock authorized (shares)	5,000,000	5,000,000
Convertible preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Convertible preferred stock outstanding (shares)	0	0
Convertible preferred stock issued (shares)	0	0

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants (Details) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Exercise price per share (in USD per share)	$ 14.95	$ 14.95
Common Stock
Class of Stock [Line Items]
Shares available for purchase under common stock warrants (in shares)	34,113	34,113

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Plan Additional Information (Details) - shares	Jan. 01, 2017	Jun. 30, 2018
2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding stock	4.00%
2014 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares underlying stock options granted (in shares)		110,000
Share granted under restricted stock awards (shares)		16,000
Common Stock | 2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares outstanding increase during period (in shares)	1,460,643
Shares underlying stock options granted (in shares)		744,450
Shares available for issuance (in shares)		1,784,532
Common Stock | 2014 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance (in shares)		167,392
Employee Stock | 2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares outstanding increase during period (in shares)	300,000
Shares available for issuance (in shares)		1,198,039
Restricted Stock Award | 2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share granted under restricted stock awards (shares)		261,650

Stockholders' Equity - Stock 36

Stockholders' Equity - Stock Option Plan Fair Value Assumptions (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Employee Stock Option | 2014 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years	6 years	6 years	6 years
Expected volatility percentage	60.20%	67.00%	60.70%	68.10%
Risk-free interest rate	2.80%	2.00%	2.70%	2.10%
Expected dividend rate	0.00%	0.00%	0.00%	0.00%
Non-employee Stock Options | 2014 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	9 years	9 years	8 years 11 months	9 years
Expected volatility percentage	63.80%	70.00%	63.90%	70.00%
Risk-free interest rate	2.90%	2.20%	2.80%	2.20%
Expected dividend rate	0.00%	0.00%	0.00%	0.00%
Employee Stock | 2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 months	6 months
Expected volatility percentage	59.30%	72.40%
Risk-free interest rate	1.60%	0.70%
Expected dividend rate	0.00%	0.00%

Stockholders' Equity - Stock 37

Stockholders' Equity - Stock Option Plan Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock based compensation expense	$ 4,172	$ 3,519	$ 8,330	$ 6,674
Research and Development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock based compensation expense	1,868	1,504	3,791	2,808
General and Administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock based compensation expense	$ 2,304	$ 2,015	$ 4,539	$ 3,866