Kadmon (KDMN) 10-Q 5 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 29, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	Kadmon Holdings, Inc.
Entity Central Index Key	0001557142
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		129,634,540
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Small Business	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 86,182	$ 94,740
Accounts receivable, net	699	1,690
Inventories, net	228	925
Prepaid expenses and other current assets	1,449	1,581
Total current assets	88,558	98,936
Fixed assets, net	3,160	3,654
Right of use lease asset	21,231
Goodwill	3,580	3,580
Restricted cash	2,116	2,116
Investment, equity securities	95,013	34,075
Investment, at cost	2,300	2,300
Total assets	215,958	144,661
Current liabilities:
Accounts payable	6,892	9,986
Accrued expenses	13,967	13,508
Lease liability - current	3,825
Fair market value of financial instruments	468	524
Secured term debt - current	4,500
Total current liabilities	29,652	24,018
Lease liability - noncurrent	21,666
Deferred rent		4,290
Deferred tax liability	415	415
Other long term liabilities		47
Secured term debt – net of current portion and discount	23,168	27,480
Total liabilities	74,901	56,250
Commitments and contingencies (Note 15 and 16)
Stockholders’ equity:
Convertible preferred stock, $0.001 par value; 10,000,000 shares authorized at June 30, 2019 and December 31, 2018; 28,708 and 30,000 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	41,398	42,231
Common stock, $0.001 par value; 400,000,000 and 200,000,000 shares authorized at June 30, 2019 and December 31, 2018, respectively; 129,634,540 and 113,130,817 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	130	113
Additional paid-in capital	357,443	315,710
Accumulated deficit	(257,914)	(269,643)
Total stockholders’ equity	141,057	88,411
Total liabilities and stockholders’ equity	$ 215,958	$ 144,661

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	200,000,000
Common stock, shares issued	129,634,540	113,130,817
Common stock, shares outstanding	129,634,540	113,130,817
Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	28,708	30,000
Preferred stock, shares outstanding	28,708	30,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Total revenue	$ 226,000	$ 359,000	$ 467,000	$ 792,000
Cost of sales	45,000	103,000	76,000	302,000
Write-down of inventory	932,000	98,000	932,000	245,000
Gross profit	(751,000)	158,000	(541,000)	245,000
Operating expenses:
Research and development	15,108,000	10,178,000	30,099,000	19,958,000
Selling, general and administrative	8,981,000	8,812,000	16,927,000	17,062,000
Total operating expenses	24,089,000	18,990,000	47,026,000	37,020,000
Loss from operations	(24,840,000)	(18,832,000)	(47,567,000)	(36,775,000)
Other income (expense):
Interest income	548,000	139,000	1,204,000	208,000
Interest expense	(936,000)	(1,338,000)	(1,868,000)	(2,803,000)
Change in fair value of financial instruments	280,000	463,000	56,000	604,000
Loss on equity method investment				(1,242,000)
Unrealized gain on equity securities	34,110,000	40,508,000	60,938,000	40,508,000
Other (expense) income	(2,000)	3,000	(11,000)	2,000
Total other income	34,000,000	39,775,000	60,319,000	37,277,000
Income before income tax benefit	9,160,000	20,943,000	12,752,000	502,000
Income tax benefit	0	562,000	0	562,000
Net income	9,160,000	21,505,000	12,752,000	1,064,000
Deemed dividend on convertible preferred stock	508,000	491,000	1,023,000	981,000
Net income attributable to common stockholders	$ 8,652,000	$ 21,014,000	$ 11,729,000	$ 83,000
Basic net income per share of common stock	$ 0.07	$ 0.25	$ 0.09	$ 0
Diluted net income per share of common stock	$ 0.07	$ 0.24	$ 0.09	$ 0
Weighted average basic shares of common stock outstanding	129,080,221	85,004,107	127,713,099	81,844,677
Weighted average diluted shares of common stock outstanding	129,090,983	90,164,248	127,750,765	82,216,399
Net Sales [Member]
Revenues:
Total revenue	$ 47,000	$ 161,000	$ 114,000	$ 435,000
Other Revenue [Member]
Revenues:
Total revenue	$ 179,000	$ 198,000	$ 353,000	$ 357,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2017	$ 40,220	$ 79	$ 198,856	$ (237,397)	$ 1,758
Balance, Shares at Dec. 31, 2017	30,000	78,643,954
Share-based compensation expense			2,572		2,572
Common stock issued for warrant exercises			26		26
Common stock issued for warrant exercises, shares		8,195
Beneficial conversion feature on convertible preferred stock	$ 98			(98)
Accretion of dividends on convertible preferred stock	392			(392)
Net income (loss)				(20,441)	(20,441)
Balance at Mar. 31, 2018	$ 40,710	$ 79	201,454	(234,311)	7,932
Balance, Shares at Mar. 31, 2018	30,000	78,652,149
Balance at Dec. 31, 2017	$ 40,220	$ 79	198,856	(237,397)	1,758
Balance, Shares at Dec. 31, 2017	30,000	78,643,954
Beneficial conversion feature on convertible preferred stock					196
Accretion of dividends on convertible preferred stock					785
Net income (loss)					1,064
Balance at Jun. 30, 2018	$ 41,201	$ 113	310,831	(213,297)	138,848
Balance, Shares at Jun. 30, 2018	30,000	113,101,776
Balance at Dec. 31, 2017	$ 40,220	$ 79	198,856	(237,397)	1,758
Balance, Shares at Dec. 31, 2017	30,000	78,643,954
Balance at Dec. 31, 2018	$ 42,231	$ 113	315,710	(269,643)	88,411
Balance, Shares at Dec. 31, 2018	30,000	113,130,817
Balance at Mar. 31, 2018	$ 40,710	$ 79	201,454	(234,311)	7,932
Balance, Shares at Mar. 31, 2018	30,000	78,652,149
Share-based compensation expense			3,023		3,023
Common stock issued in public offering, net		$ 34	105,727		105,761
Common stock issued in public offering, net, shares		34,303,030
Common stock issued for warrant exercises			562		562
Common stock issued for warrant exercises, shares		123,639
Common stock issued under ESPP plan			65		65
Common stock issued under ESPP plan, shares		22,958
Cumulative effect of change in accounting principle - ASC 606 adoption at Mar. 31, 2018				24,017	24,017
Beneficial conversion feature on convertible preferred stock	$ 98			(98)
Accretion of dividends on convertible preferred stock	393			(393)
Net income (loss)				21,505	21,505
Balance at Jun. 30, 2018	$ 41,201	$ 113	310,831	(213,297)	138,848
Balance, Shares at Jun. 30, 2018	30,000	113,101,776
Share-based compensation expense			2,833		2,833
Beneficial conversion feature on convertible preferred stock	$ 103			(103)
Accretion of dividends on convertible preferred stock	412			(412)
Net income (loss)				(13,799)	(13,799)
Balance at Sep. 30, 2018	$ 41,716	$ 113	313,664	(227,611)	127,882
Balance, Shares at Sep. 30, 2018	30,000	113,101,776
Share-based compensation expense			1,963		1,963
Common stock issued under ESPP plan			83		83
Common stock issued under ESPP plan, shares		29,041
Beneficial conversion feature on convertible preferred stock	$ 103			(103)
Accretion of dividends on convertible preferred stock	412			(412)
Net income (loss)				(41,517)	(41,517)
Balance at Dec. 31, 2018	$ 42,231	$ 113	315,710	(269,643)	88,411
Balance, Shares at Dec. 31, 2018	30,000	113,130,817
Share-based compensation expense			2,156		2,156
Common stock issued in public offering, net		$ 14	29,035		29,049
Common stock issued in public offering, net, shares		13,778,705
Beneficial conversion feature on convertible preferred stock	$ 103			(103)
Accretion of dividends on convertible preferred stock	412			(412)
Net income (loss)				3,592	3,592
Balance at Mar. 31, 2019	$ 42,746	$ 127	346,901	(266,566)	123,208
Balance, Shares at Mar. 31, 2019	30,000	126,909,522
Balance at Dec. 31, 2018	$ 42,231	$ 113	315,710	(269,643)	$ 88,411
Balance, Shares at Dec. 31, 2018	30,000	113,130,817
Common stock issued in public offering, net, shares					13,778,705
Beneficial conversion feature on convertible preferred stock					$ 205
Accretion of dividends on convertible preferred stock					818
Net income (loss)					12,752
Balance at Jun. 30, 2019	$ 41,398	$ 130	357,443	(257,914)	141,057
Balance, Shares at Jun. 30, 2019	28,708	129,634,540
Balance at Mar. 31, 2019	$ 42,746	$ 127	346,901	(266,566)	123,208
Balance, Shares at Mar. 31, 2019	30,000	126,909,522
Share-based compensation expense			1,969		1,969
Common stock issued in public offering, net		$ 3	6,644		6,647
Common stock issued in public offering, net, shares		2,538,100
Common stock issued under ESPP plan			73		73
Common stock issued under ESPP plan, shares		32,273
Common stock issued upon conversion of convertible preferred stock	$ (1,856)		1,856
Common stock issued upon conversion of convertible preferred stock, shares	(1,292)	154,645
Beneficial conversion feature on convertible preferred stock	$ 102			(102)
Accretion of dividends on convertible preferred stock	406			(406)
Net income (loss)				9,160	9,160
Balance at Jun. 30, 2019	$ 41,398	$ 130	$ 357,443	$ (257,914)	$ 141,057
Balance, Shares at Jun. 30, 2019	28,708	129,634,540

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 12,752	$ 1,064
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization of fixed assets	907	702
Amortization of right of use lease asset	1,648
Write-down of inventory	932	245
Amortization of deferred financing costs		228
Amortization of debt discount	188	1,030
Amortization of debt premium		(345)
Share-based compensation	4,125	5,595
Change in fair value of financial instruments	(56)	(604)
Loss on equity method investment		1,242
Unrealized gain on equity securities	(60,938)	(40,508)
Deferred tax liability		(562)
Changes in operating assets and liabilities:
Accounts receivable, net	991	652
Inventories, net	(235)	(709)
Prepaid expenses and other assets	132	(499)
Accounts payable	(2,995)	(2,092)
Lease liability	(1,824)
Accrued expenses, other liabilities and deferred rent	459	(784)
Net cash used in operating activities	(43,914)	(35,345)
Cash flows from investing activities:
Purchases of fixed assets	(413)	(528)
Net cash used in investing activities	(413)	(528)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	35,696	105,761
Principal payments on secured term debt		(6,574)
Proceeds from issuance of ESPP shares	73	65
Proceeds from exercise of warrants		574
Net cash provided by financing activities	35,769	99,826
Net increase (decrease) in cash, cash equivalents and restricted cash	(8,558)	63,953
Cash, cash equivalents and restricted cash, beginning of period	96,856	69,633
Cash, cash equivalents and restricted cash, end of period	88,298	133,586
Components of cash, cash equivalents, and restricted cash
Total cash, cash equivalents, and restricted cash	96,856	69,633
Supplemental cash flow disclosures:
Cash paid for interest	1,678	1,899
Non-cash investing and financing activities:
Beneficial conversion feature on convertible preferred stock	205	196
Accretion of dividends on convertible preferred stock	818	785
Unpaid fixed asset additions		115
Operating lease liabilities arising from obtaining right-of-use assets	85
Common stock issued upon conversion of convertible preferred stock	1,856
Accounting Standards Update 2016-02 [Member]
Non-cash investing and financing activities:
Cumulative effect of change in accounting principle	$ 27,083
ASU 2014-09 [Member]
Non-cash investing and financing activities:
Cumulative effect of change in accounting principle		$ 24,017

Organization

Organization	6 Months Ended
	Jun. 30, 2019
Organization [Abstract]
Organization	1. Organization Nature of Business Kadmon Holdings, Inc. (together with its subsidiaries, “Kadmon” or “Company”) is a fully integrated biopharmaceutical company engaged in the discovery, development and commercialization of small molecules and biologics to address disease areas of significant unmet medical needs, with a near-term clinical focus on inflammatory and fibrotic diseases as well as immuno-oncology. The Company leverages its multi-disciplinary research and clinical development team members to identify and pursue a diverse portfolio of novel product candidates, both through in-licensing products and employing its small molecule and biologics platforms. By retaining global commercial rights to its lead product candidates, the Company believes that it has the ability to develop these candidates while maintaining flexibility for commercial and licensing arrangements. The Company expects to continue to progress its clinical candidates and have further clinical trial events in the second half of 2019 and in 2020. Liquidity The Company maintained cash and cash equivalents of $86.2 million at June 30, 2019 . The Company had an accumulated deficit of $257.9 million and working capital of $58.9 million at June 30, 2019 . The Company entered into a Sales Agreement with Cantor Fitzgerald & Co. in August 2017 under which the Company may sell up to $40.0 million in shares of its common stock in one or more placements at prevailing market prices for its common stock (the “ATM Offering”). Any such sales would be effected pursuant to the Company’s registration statement on Form S-3 (File No. 333-222364), declared effective by the Securities Exchange Commission (“SEC”) on January 10, 2018. As of December 31, 2018, the Company had not sold any shares of common stock through the ATM Offering. In January 2019, the Company sold 13,778,705 shares of common stock at a weighted average price of $2.17 per share through the ATM Offering and received total gross proceeds of $29.9 million ( $29.0 million net of $0.9 million of commissions payable by the Company). In April 2019, the Company sold 2,538,100 shares of common stock at a price of $2.70 per share through the ATM Offering and received total gross proceeds of $6.9 million ( $6.7 million net of $0.2 million of commissions payable by the Company). The Company’s existing cash and cash equivalents are expected to enable it to advance its Phase 2 clinical studies of KD025 and advance certain of its other pipeline product candidates and provide for other working capital purposes. Management’s plans include continuing to finance operations through the issuance of additional equity securities , monetization of assets and expanding the Company’s commercial portfolio through the development of its current pipeline or through strategic collaborations. Any transactions that occur may contain covenants that restrict the ability of management to operate the business or may have rights, preferences or privileges senior to the Company’s common stock and may dilute current stockholders of the Company. Going Concern The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern. The Company has not established a source of revenues sufficient to cover its operating costs, and as such, has been dependent on funding operations through the issuance of debt and sale of equity securities. Since inception, the Company has experienced significant loses and incurred negative cash flows from operations. The Company expects to incur further losses over the next several years as it develops its business. The Company has spent, and expects to continue to spend, a substantial amount of funds in connection with implementing its business strategy, including its planned product development efforts, preparation for its planned clinical trials, performance of clinical trials and its research and discovery efforts. The Company’s cash and cash equivalents are not expected to be sufficient to enable the Company to meet its long-term expected plans, including commercialization of clinical pipeline products, if approved, or initiation or completion of future registrational studies. The Company has no current commitments for additional financing and may not be successful in its efforts to raise additional funds or achieve profitable operations, and there can be no assurance that additional financing will be available to the Company on commercially acceptable terms or at all. Any amounts raised will be used for further development of the Company’s product candidates, for marketing and promotion, to secure additional property and equipment and for other working capital purposes. If the Company is unable to obtain additional capital, its long-term business plan may not be accomplished and the Company may be forced to curtail or cease operations. Further, the 2015 Credit Agreement contains certain developmental milestones, as well as a minimum liquidity covenant. The Company’s failure to achieve these milestones as anticipated by December 31, 2019 or its violation of its minimum liquidity covenant would constitute an event of default under the 2015 Credit Agreement. Upon an event of default, the Lender may terminate the commitments under the 2015 Credit Agreement and declare the loans then outstanding under the 2015 Credit Agreement to be due and payable in whole or in part, together with any applicable fees and accrued interest thereon. The Company considers some of these developmental milestones to be outside of its control. As a result, if an event of default arises under the Credit Agreement, the Company may need to use cash and cash equivalents on hand to fund certain repayment commitments under the 2015 Credit Agreement. These factors individually and collectively continue to raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments or classifications that may result from the possible inability of the Company to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The Company operates in one segment considering the nature of the Company’s products and services, class of customers , methods used to distribute its products and the regulatory environment in which the Company operates. Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with GAAP. The consolidated financial statements include the accounts of Kadmon Holdings, Inc. and its domestic and international subsidiaries, all of which are wholly owned by Kadmon Holdings, Inc. Interim Financial Statements The accompanying financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the Company’s opinion , the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the final results that ma y be expected for the year ending December 31, 2019. These unaudited financial statements should be read in conjunction with the audited financial statements included in Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates. Critical Accounting Policies The Company’s significant accounting policies are disclosed in the audited financial statements included in Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Since the date of such financial statements, there have been no changes to the Company’s significant accounting policies, other than those described below. Accounting for Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016 02, “Leases” (“ASC 842”) to enhance the transparency and comparability of financial reporting related to leasing arrangements. Under this new lease standard, most leases are required to be recognized on the balance sheet as right-of-use (“ROU”) assets and lease liabilities. Disclosure requirements have been enhanced with the objective of enabling financial statement use rs to assess the amount, timing and uncertainty of cash flows arising from leases. Prior to January 1, 2019, GAAP did not require lessees to recognize assets and liabilities related to operating leases on the balance sheet. The new standard establishes a ROU model that requires a lessee to recognize a ROU asset and corresponding lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the statement of operations as well as the reduction of the right of use asset. The Company has adopted the standard effective January 1, 2019 and has chosen to use the effective date as our date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods prior to January 1, 2019. The new standard provides a number of optional practical expedients in transition. The Company has elected to apply the ‘package of prac tical expedients’, which allow it to not reassess (i) whether existing or expired arrangements contain a lease, (ii) the lease classification of existing or expired leases, or (iii) whether previous initial direct costs would qualify for capitalization under the new lease standard. The Company has also elected to apply (i) the practical expedient , which allows it to not separate lease and non-lease components, for new leases entered into after adoption and (ii) the short-term lease exemption for all leases with an original term of less than 12 months, for purposes of applying the recognition and measurements requirements in the new standard. In preparation for adoption of the standard, the Company implemented internal controls to enable the preparation of financial information including the assessment of the impact of the standard. For the impact to the Company’s consolidated financial statement upon adoption of the new leasing standard, see Note 8 to the unaudited consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on specific facts and circumstances, the existence of an identified asset(s), if any, and the Company’s control over the use of the identified asset(s), if applicable. Operating lease liabilities and their corresponding ROU assets are recorded based on the present value of future lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, the Company will utilize the incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. As of the ASC 842 effective date, the Company’s incremental borrowing rate range d from approximately 4.0% - 5.6% based on the remaining lease term of the applicable leases. The Company has elected to combine lease and non-lease components as a single component. Operating leases are recognized on the balance sheet as ROU lease assets, lease liabilities current and lease liabilities non-current. Fixed rents are included in the calculation of the lease balances while variable costs paid for certain operating and pass-through costs are excluded. Lease expense is recognized over the expected term on a straight-line basis. Revenue Recognition The Company adopted FASB ASC 606, Revenue from Contracts with Customers (“ASC 606”), on January 1, 2018 using the modified retrospective method for all contracts not completed as of the date of adoption– i.e. by recognizing the cumulative effect of initially applying ASC 606 as an adjustment to the opening balance of stockholders’ equity at January 1, 2018. The Company recognizes revenue in accordance with ASC 606, the core principle of which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as the Company satisfies a performance obligation. Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the three and six months ended June 30, 2019 and 2018 :     Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Product sales $ 47 $ 161 $ 114 $ 435  Other revenue 179 198 353 357  Total revenue $ 226 $ 359 $ 467 $ 792 Product Sales The Company markets and distributes a portfolio of products, including ribavirin and tetrabenazine. These contracts typically include a single promise to deliver a fixed amount of product to the customer with payment due within 30 days of shipment. Revenues are recognized when control of the promised goods is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods. As is typical in the pharmaceutical industry, gross product sales are subject to a variety of deductions, primarily representin g rebates, chargebacks, returns and discounts to g overnment agencies, wholesalers and managed care organizations. These deductions represent management’s best estimates of the related reserves and, as such, judgment is required when estimating the impact of these sales deductions on gross sales for a reporting period. If estimates are not representative of the actual future settlement, results could be materially affected. Other Revenue O ther revenue generated by the Company is primarily related to a transition services agreement and sublease agreement with MeiraGTx Holdings plc (“MeiraGTx”) (Note 11). The Company performed various professional services under a transition services agreement ( the “TSA”) that supported MeiraGTx until the expiration of the TSA in April 2018. The Company continues to provide office space to MeiraGTx under a sublease agreement. The Company recognizes revenue related to transition services and sublease agreements as they are performed. Contract Balances The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. A receivable is recognized in the period the Company deliver s goods or provide s services or when its right to consideration is unconditional. The Company has not recognized any assets for costs to obtain or fulfill a contract with a customer as of June 30, 2019 . Transaction Price Allocated to Future Performance Obligations ASC 606 requires that the Company disclose the aggregate amount of a transaction price that is allocated to performance obligations that have not yet been satisfied as of June 30, 2019 . The guidance provides certain practical expedients that limit this requirement. The Company has various contracts that meet the following practical expedients provided by ASC 606: 1. The performance obligation is part of a contract that has an original expected duration of one year or less. 2. Revenue is recognized from the satisfaction of the performance obligations in the amount billable to the customer. 3. The variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation. The Company does no t have any performance obligations that have not yet been satisfied as of June 30, 2019 and therefore there is no transaction price allocated to future performance obligations under ASC 606. Recent Accounting Pronouncements In November 2018, the FASB issued ASU No. 2018-18, “Collaborative Arrangements (Topic 808): Clarifying the Interaction Between Topic 808 and Topic 606”, which requires transactions in collaborative arrangements to be accounted for under ASC 606 if the counterparty is a customer for a good or service (or bundle of goods and services) that is a distinct unit of account. The ASU also preclude s entities from presenting consideration from transactions with a collaborator that is not a customer together with revenue recognized from contracts with customers. The ASU is effective for annual or interim periods beginning after December 15, 2019. Early adoption is permitted for entities that have adopted ASC 606. The Company is evaluating the impact of adopting this standard. In August 2018, the FASB issued ASU No. 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force)”, which requires customers in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in Accounting Standards Codification 350-40 to determine which implementation costs to capitalize as assets. This ASU is effective for annual or any interim periods beginning after December 15, 2019. The Company does not expect the standard to have a significant impact on its consolidated financial statements, as the Company’s cloud computing contracts are not material. In June 2018, the FASB issued ASU No. 2018-07, “Compensation – Stock Compensation”, which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non - employees, subject to specific exceptions. This ASU is effective for annual or any interim periods beginning after December 15, 2018. The Company adopted this standard on January 1, 2019, which did not have a significant impact on its consolidated financial statements as the fair value of the Company’s awards to non - employees is not material. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other”, which simplifies the subsequent measurement of goodwill by eliminating “Step 2” from the goodwill impairment test. Instead of performing Step 2 to determine the amount of an impairment charge, the fair value of a reporting unit will be compared with its carrying amount and an impairment charge will be recognized for the value by which the carrying amount exceeds the reporting unit’s fair value. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the standard to have a significant impact on its consolidated financial statements.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2019
Stockholders’ Equity [Abstract]
Stockholders’ Equity	3. Stockholders’ Equity 5% Convertible Preferred Stock The Company had 28,708 shares of 5% convertible preferred stock outstanding at June 30, 2019 , which shares convert into shares of the Company’s common stock at a 20% discount to the initial public offering price per share of common stock in the Company’s initial public offering ( the “IPO”) of $12.00 per share. In May 2019, the holder of 1,292 shares of 5% convertible preferred stock exercised its right to convert such shares into 154,645 share s of the Company’s common stock . T he Company accrued dividends on the 5% convertible preferred stock of $0.4 million and $0.8 million during the three and six months ended June 30, 2019 and 2018 , respectively. T he Company calculated a deemed dividend of $0.1 million on the $0.4 million of accrued dividends during each of the three months ended June 30, 2019 and 2018 , and $0.2 million on the $0.8 million of accrued dividends during each of the six months ended June 30, 2019 and 2018 , which is a beneficial conversion feature. The stated liquidation preference amount on the 5% convertible preferred stock totaled $33.1 million at June 30, 2019 .  Common Stock The Company’s restated certificate of incorporation authorizes the issuance of up to 400,000,000 shares of the Company’s common stock, par value $0.001 per share. 

Net Income per Share Attributab

Net Income per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2019
Net Income per Share Attributable to Common Stockholders [Abstract]
Net Income per Share Attributable to Common Stockholders	4. Net Income per Share Attributable to Common Stockholders Basic net income attributable to common stockholders per share is computed by dividing the net income attributable to common stockholders by the wei ghted average number of common shares outstanding for the period. Shares issued during the period are weighted for the portion of the period during which they were outstanding. Diluted net income per share is calculated in a manner consistent with basic net income per share while giving effect to all potentially dilutive common shares that were outstanding during the period. The following table summarizes the computation of basic and diluted net income per share attributable to common stockholders of the Company (in thousands, except share and per share amounts):   Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Numerator – basic and diluted:  Net income available to common stockholders - basic $ 8,652 $ 21,014 $ 11,729 83  Effect of d ilution:  Warrants to purchase common stock — (179) — —  Convertible preferred stock — 491 — —  Net income available to common stockholders - basic and diluted $ 8,652 $ 21,326 $ 11,729 $ 83   Denominator – basic and diluted:  Weighted average common shares outstanding used to compute basic net income per share 129,080,221 85,004,107 127,713,099 81,844,677  Effect of dilution:  Options to purchase common stock 10,762 152,400 37,666 257,297  Stock appreciation rights — 69,333 — 114,425  Warrants to purchase common stock — 1,504,941 — —  Convertible preferred stock — 3,433,467 — —  Weighted average common shares outstanding used to compute diluted net income per share 129,090,983 90,164,248 127,750,765 82,216,399   Net income per share, basic $ 0.07 $ 0.25 $ 0.09 $ 0.00  Net income per share, diluted $ 0.07 $ 0.24 $ 0.09 $ 0.00  The amounts in the table below were excluded from the calculation of diluted net income per share, due to their anti-dilutive effect:   Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Options to purchase common stock 11,468,920 7,395,342 10,574,947 5,795,842  Warrants to purchase common stock 11,999,852 1,328,452 11,999,852 11,999,852  Convertible preferred stock 3,285,596 — 3,285,596 3,433,467  Total shares of common stock equivalents 26,754,368 8,723,794 25,860,395 21,229,161

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt [Abstract]
Debt	5. Debt The Company is a party to one credit agreement (the 2015 Credit Agreement) with outstanding indebtedness in the following amount (in thousands):     June 30, December 31,  2019 2018   Secured term debt due July 1, 2020 $ 28,046 $ 28,046  Total debt before debt discount 28,046 28,046  Less: Debt discount (378) (566)  Total debt payable $ 27,668 $ 27,480   Debt payable, current portion $ 4,500 $ —  Debt payable, long-term $ 23,168 $ 27,480  Secured Term Debt August 2015 Secured Term Debt In August 2015, the Company entered into a secured term loan in the amount of $35.0 million with two lenders ( the “2015 Credit Agreement”). The interest rate on the loan is LIBOR plus 9.375% with a 1% floor. As of June 30, 2019 , there were five amendments to the 2015 Credit Agreement, which, among other things, have extended the maturity date and due date of principal payments under the 2015 Credit Agreement, repaid all amounts due to one of the lenders, revised terms of certain warrants issued in connection with the 2015 Credit Agreement (Note 6), and amended certain covenants, including certain non-financial developmental milestone s that must be met by December 31, 2019. As amended, the key terms of the loan require monthly payments of interest only through December 31, 2019, with principal payments in the amount of $750,000 payable monthly beginning on January 31, 2020. Any outstanding balance of the loan and accrued interest is required to be repaid on July 1, 2020 , the maturity date. The secured term loan is collateralized by a first priority perfected security interest in all the tangible and intangible property of the Company. The Company entered into a sixth waiver agreement to the 2015 Credit Agreement in March 2019 under which the lenders under the 2015 Credit Agreement agreed to refrain from exercising certain rights under the 2015 Credit Agreement, including the declaration of a default and to forbear from acceleration of any repayment rights with respect to existing covenants. The report and opinion of our independent registered public accounting firm, BDO USA, LLP, for the year ended December 31, 2018 contains an explanatory paragraph regarding our ability to continue as a going concern, which is an event of default under the 2015 Credit Agreement. The 2015 Credit Agreement contains certain developmental milestones, as well as a minimum liquidity covenant. The Company’s failure to achieve these milestones as anticipated by December 31, 2019 or its violation of its minimum liquidity covenant would constitute an event of default under the 2015 Credit Agreement. Upon an event of default, the Lender may terminate the commitments under the 2015 Credit Agreement and declare the loans then outstanding under the 2015 Credit Agreement to be due and payable in whole or in part, together with any applicable fees and accrued interest thereon. The Company considers some of these developmental milestones to be outside of its control. As a result, if an event of default arises under the Credit Agreement, the Company may need to use cash and cash equivalents on hand to fund certain repayment commitments under the 2015 Credit Agreement. The minimum payments required on the outstanding balances of the 2015 Credit Agreement at June 30, 2019 are (in thousands):    2015 Credit Agreement  2019 $ —  2020 28,046  $ 28,046  The following table provides components of interest expense and other related financing costs (in thousands):     Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Interest expense and other financing costs $ 843 $ 939 $ 1,680 $ 1,890  Amortization of deferred financing costs, debt discount and debt premium 93 399 188 913  Interest expense $ 936 $ 1,338 $ 1,868 $ 2,803

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2019
Financial Instruments [Abstract]
Financial Instruments	6. Financial Instruments Equity Issued Pursuant to Credit Agreements In connection with the 2015 Credit Agreement (Note 5), as fees to the lenders thereunder, the Company issued warrants to purchase an aggregate of $6.3 million of the Company’s Class A units, which were exchanged for 617,651 warrants with a strike price of $10.20 per share to purchase the same number of shares of the Company’s common stock upon consummation of the Company’s IPO in August 2016 ( the “2015 Warrants”). As of June 30, 2019 , the exercise price of a portion of the 2015 Warrants to purchase an aggregate of 529,413 shares of the Company’s common stock wa s $3.30 per warrant share and the exercise price of the remaining 2015 Warrants to purchase an aggregate of 88,238 shares of the Company’s common stock wa s $4.50 per warrant share. Since these warrants are exercisable and are redeemable at the option of the holder upon the occurrence of, and during the continuance of, an event of default, the fair value of the warrants is recorded as a short-term liability of approximately $0.5 million at both June 30, 2019 and December 31, 2018 . The Company used the Black-Scholes pricing model to value the warrant liability at June 30, 2019 with the following assumptions: risk-free interest rate of 1.7% , expected term of 3.2 years, expected volatility of 73.4% and a dividend rate of 0% . The change in fair value of the warrants was approximately $(0.3) million and $(0.1) million for three and six months ended June 30, 2019 , respectively , and approximately $(0.2) million and $0.1 million for the three and six months ended June 30, 2018 , respectively. None of these instruments have been exercised as of June 30, 2019 and December 31, 2018 . Other Warrants In connection with a sale of common stock by the Company in March 2017, warrants to purchase 2,707,138 shares of common stock were issued at an exercise price of $4.50 per share. During April 2018, warrants to purchase 119,047 shares of common stock were exercised for which the Company received proceeds of $0.5 million. The remaining 2,588,091 warrants expired in April 2018. These warrants included a cash settlement option requiring the Company to record a liability for the fair value of the warrants at the time of issuance and at each reporting period with any change in the fair value reported as other income or expense. The change in the fair value of these warrants was $(0.3) million and $(0.7) million for the three and six months ended June 30, 2018 , respectively. As these warrants expired in April 2018, no change in fair value was recorded for these warrants in 2019. Fair Value of Long-term Debt The Company maintained a long-term secured debt balance of $23.2 million and $27.5 million at June 30, 2019 and December 31, 2018 , respectively. As the secured debt becomes due on July 1, 2020 and monthly principal payments of $750,000 will become due starting January 31, 2020, it has been recorded as long-term secured debt at December 31, 2018. At June 30, 2019 , $4.5 million of principal payments due in the first and second quarter of 2020 have been recorded as short-term secured debt and the remaining balance is recorded as long-term secured debt. The underlying agreements for these balances were negotiated with third parties on an arms-length basis, at an interest rate which is considered to be i n line with overall market conditions. Based on these factors, management considers the carrying value of the debt to approximate fair value at June 30, 2019 . Fair Value Classification The Company held certain liabilities that are required to be measured at fair value on a recurring basis. Fair value guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include:  · Level 1—Quoted prices in active markets for identical assets or liabilities. · Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. · Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.  The table below represents the values of the Company’s financial instruments at June 30, 2019 and December 31, 2018 (in thousands):    Fair Value Measurement Using Significant Other Observable Inputs (Level 2)  June 30, December 31,  Description 2019 2018  Warrants $ 468 $ 524  Total $ 468 $ 524  The table below represents a roll -forward of Level 2 financial instruments from January 1, 2018 to June 30, 2019 (in thousands):    Significant Other Observable Inputs  (Level 2)  Balance at January 1, 2018 $ 1,952  Change in fair value of financial instruments (1,525)  Fair value of warrants modified in the Fifth Amendment 111  Exercise of warrants recorded as liability (14)  Balance at December 31, 2018 $ 524  Change in fair value of financial instruments (56)  Balance at June 30, 2019 $ 468  The Level 2 inputs used to value the Company’s financial instruments were determined using prices that can be directly observed or corroborated in active markets. Although the fair value of this obligation is calculated using the observable market price of the Company’s common stock, an active market for this financial instrument does not exist and therefore the Company has classified the fair value of this liability as a Level 2 liability in the table above.  Warrants Outstanding The following table summarizes information about warrants outstanding at June 30, 2019 and December 31, 2018:     Warrants Weighted Average Exercise Price  Balance, December 31, 2018 11,999,852 $ 5.97  Granted — —  Exercised — —  Forfeited — —  Balance, June 30, 2019 11,999,852 $ 5.97 

Inventories

Inventories	6 Months Ended
	Jun. 30, 2019
Inventories [Abstract]
Inventories	7. Inventories Inventories are stated at the lower of cost or net realizable value (on a first-in, first-out basis) using standard costs. Standard costs include an allocation of overhead rates, which include those costs attributable to managing the supply chain and are evaluated regularly. Variances are expensed as incurred. The Company regularly reviews the expiration dates of its inventories and maintains a reserve for inventories that are probable to expire before shipment. Inventories recorded on the Company’s consolidated balance sheets are net of a reserve for expirable inventory of $3.0 million and $2.2 million at June 30, 2019 and December 31, 2018 , respectively. The Company expensed inventory that it believes will not be sold prior to reaching its expiration date totaling $0.9 million during each of the three and six months ended June 30, 2019 , and $0.1 million and $0.2 million during the three and six months ended June 30, 2018 , respectively . If the amount and timing of future sales differ from management’s assumptions, adjustments to the estimated inventory reserves may be required. Inventories Produced in Preparation for Product Launches  The Company capitalizes inventories produced in preparation for product launches sufficient to support estimated initial market demand. Typically, capitalization of such inventory begins when positive results have been obtained for the clinical trials that the Company believes are necessary to support regulatory approval, uncertainties regarding ultimate regulatory approval have been significantly reduced and the Company has determined it is probable that these capitalized costs will provide some future economic benefit in excess of capitalized costs. The material factors considered by the Company in evaluating these uncertainties include the receipt and analysis of positive clinical trial results for the underlying product candidate, results from meetings with the relevant regulatory authorities prior to the filing of regulatory applications and the compilation of the regulatory application. The Company closely monitors the status of each product within the regulatory approval process, including all relevant communication with regulatory authorities. If the Company is aware of any specific material risks or contingencies other than the normal regulatory review and approval process or if there are any specific issues identified relating to safety, efficacy, manufacturing, marketing or labeling, the related inventory would generally not be capitalized. For inventories that are capitalized in preparation of product launch, anticipated future sales, expected approval date and shelf lives are evaluated in assessing realizability. The shelf life of a product is determined as part of the regulatory approval process; however , in evaluating whether to capitalize pre-launch inventory production costs, the Company considers the product stability data of all of the pre-approval production to date to determine whether there is adequate expected shelf life for the capitalized pre-launch production costs. The Company has concluded that KD034, its generic version of trientine hydrochloride, is commercially viable since it is the chemical equivalent of the original drug approved by the U.S. Food and Drug Administration (“FDA”). The Company has submitted two Abbreviated New Drug Applications with the FDA, and determined that receiving economic benefits of the pre-launch inventory recorded at June 30, 2019 is probable. Accordingly, the pre-launch costs are realizable as the Company expects the inventory will be sold or used prior to expiration. An assessment of likelihood that regulatory approval will not be obtained will be made at each reporting period. If at any time regulatory approval is deemed to not be probable, the inventory will be written down to its net realizable value, which is presumably zero, as the product would have no alternative future use. During the three and six months ended June 30, 2019 , the Company expensed inventory that it believes will not be sold prior to reaching its expiration date totaling $0.9 million. The Company maintained $0.2 million and $0.9 million of work-in-process inventory related to KD034 at June 30, 2019 and December 31, 2018 , respectively. Inventories are comprised of the following (in thousands):        June 30, December 31,  2019 2018  Raw materials $ — $ —  Work-in-process 183 886  Finished goods, net 45 39  Total inventories $ 228 $ 925 

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	8. Leases On January 1, 2019, the Company adopted ASC 842 using the modified retrospective transition app roach allowed under ASU 2018-11, “Leases (Topic 842: Targeted Improvements”), which releases companies from presenting comparative periods and related disclosures under ASC 842 and requires a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption (Note 2) . The Company is party to six operating leases for of fice or laboratory space and three finance leases for office IT equipment . The Company’s finance leases are immaterial both individually and in the aggregate. The Company has elected to apply the short-term lease exception to all leases of one year or less. As of June 30, 2019 , this exception applied to two operating leases for office space, which are each for a term of one year. Further, the Company has applie d the guidance in ASC 842 to its corporate offic e and laboratory leases and has determined that these should be classified as operating leases. Consequently, as a result of the adoption of ASC 842, the Company recognized a ROU lease asset of approximately $22.7 million with a corresponding lease liability of approximately $27.0 million based on the present value of the minimum rental payments of such leases. In accordance with ASC 842, the beginning balance of the ROU lease asset was reduced by the existing deferred rent liability at inception of approximately $4.3 million. In the consolidated balance sheets at June 30, 2019 , the Company has a ROU asset balance of $21.2 million and a current and non-current lease liability of $3.8 million and $21.7 million, respectively, relating to the ROU lease asset. The balance of both the ROU lease asset and the lease liabilities primarily consists of future payments under the Company’s office lease in New York, New York. The Company is party to an operating lease in New York, New York for office and laboratory space for its headquarters. The lease commenced in October 2010 , its initial term is set to expire in February 2021 , and the Company opened a secured letter of credit with a third party financial institution in lieu of providing a security deposit of $2.0 million , which letter of credit is included in restricted cash at June 30, 2019 . As of June 30, 2019 , there were six amendments to this lease agreement, which altered office and laboratory capacity and extended the lease term through October 2025, with total lease cost of $1.1 million and $2.3 million for the three and six months ended June 30, 2019 , respectively. This office lease contains the ability to extend portions of the lease at fair market value but does not have any renewal options. The Company is party to an operating lease in Warrendale, Pennsylvania for the Company’s special ty-focused commercial operation . In March 2019, the Company entered into an amendment to this lease , which extended the lease term to September 30, 2022, with two five -year renewal options , which would extend the term to September 30, 2032, if exercised. Rental payments under the renewal period would be at market rates determined from the average rentals of similar tenants in the same industrial park. The option to renew this office lease was not considered when assessing the value of the ROU asset because the Company was not reasonably certain that it would assert its option to renew the lease. Total lease cost for this lease was $0.1 million and $0.3 million for the three and six months ended June 30, 2019 , respectively. In August 2015, the Company entered into an operating office lease agreeme nt in Cambridge, Massachusetts for the Company’s clinical office effective January 2016 and expiring in April 2023. The Company opened a secured letter of credit with a third party financial institution in lieu of providing a security deposit of $0.1 million, which letter of credit is included in restricted cash at June 30, 2019 . The Company is also party to an operating lease for laboratory space in Princeton, N ew Jersey , which expires in February 2021. Neither of these office leases contain any renewal options. Total lease cost for these leases was $0.1 million and $0.2 million for the three and six months ended June 30, 2019 , respectively. Quantitative information regarding the Company’s leases for the three and six months ended June 30, 2019 is as follows (in thousands) :   Three Months Ended Six Months Ended  Lease Cost Classification June 30, 2019 June 30, 2019  Operating lease cost (a) SG&A expenses $ 1,154 $ 2,322  Variable lease cost SG&A expenses 262 631  Sublease income (b) Other revenue (177) (350)  Net Lease Cost $ 1,239 $ 2,603   Other Information  Operating cash flows paid for amounts included in the measurement of lease liabilities $ 1,150 $ 2,317  Operating lease liabilities arising from obtaining ROU assets 54 85   Weighted average remaining lease term (years) 5.9 5.9  Weighted average discount rate 4.1% 4.1%  (a) Includes short-term lease costs and finance lease costs, which are immaterial. (b) Includes sublease income related to MeiraGTx (Note 11) .  Future lease payments under noncancellable leases are as follows (in thousands) at June 30, 2019 :    Future Lease Payments Operating Leases Finance Leases  2019 $ 2,449 $ 44  2020 4,798 48  2021 4,902 6  2022 4,832 —  2023 4,153 —  Thereafter 7,732 —  Total Lease Payments $ 28,866 $ 98   Less: Imputed Interest (3,463) (10)  Total Lease Liabilities $ 25,403 $ 88 Note: As most of the Company’s leases do not provide an implicit rate, the Company use s its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company uses the incremental borrowing rate on January 1, 2019 for operating leases that commenced prior to that date . Future minimum rental payments under noncancellable leases are as follows (in thousands) at December 31, 2018:    Year ending December 31, Amount  2019 $ 4,672  2020 4,204  2021 4,177  2022 4,286  2023 4,153  Thereafter 7,731  Total $ 29,223 

Fixed Assets

Fixed Assets	6 Months Ended
	Jun. 30, 2019
Fixed Assets [Abstract]
Fixed Assets	9. Fixed Assets Fixed assets consisted of the following (in thousands):     Useful Lives June 30, December 31,  (Years) 2019 2018   Leasehold improvements 4 -8 $ 10,380 $ 10,187  Office equipment and furniture 3 -15 1,289 1,529  Machinery and laboratory equipment 3 -15 3,446 3,247  Software 1 -5 3,972 3,831  Construction-in-progress ̶̶̶̶ 54 45  19,141 18,839  Less accumulated depreciation and amortization (15,981) (15,185)  Fixed assets, net $ 3,160 $ 3,654  Depreciation and amortization of fixed assets totaled $0.9 million and $0.7 million for the six months ended June 30, 2019 and 2018 , respectively, and $0.4 million for each of the three months ended June 30, 2019 and 2018 . Unamortized computer software costs were $0.5 million and $0.7 million at June 30, 2019 and December 31, 2018 , respectively. The amortization of computer software costs amounted to $0.2 million and $0.1 million for the six months ended June 30, 2019 and 2018 , respectively, and $0.1 million for each of the three months ended June 30, 2019 and 2018 .

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2019
Goodwill [Abstract]
Goodwill And Other Intangible Assets	10. Goodwill The Company’s goodwill relates to the 2010 acquisition of Kadmon Pharmaceuticals, LLC, a Pennsylvania limited liability company that was formed in April 2000. There were no changes in the carrying amount of goodwill for the six months ended June 30, 2019 or the year ended December 31, 2018 .

Investment in MeiraGTx

Investment in MeiraGTx	6 Months Ended
	Jun. 30, 2019
Investment in MeiraGTx [Abstract]
Investment in MeiraGTx	11. Investment in MeiraGTx On June 12, 2018, MeiraGTx completed its initial public offering (the “MeiraGTx IPO”) whereby it sold 5,000,000 shares of common stock at an initial public offering price of $15.00 per share. MeiraGTx, a limited company under the laws of the Cayman Islands, is a clinical-stage biotech nology company developing novel gene therapy treatments for a wide range of inherited and acquired disorders for which there are no effective treatments available. The shares began trading on the Nasdaq Global Select Market on June 7, 2018 under the symbol “MGTX.” Prior to the MeiraGTx IPO, for the period beginning January 1, 2018 through June 12, 2018, the Company recorded its share of MeiraGTx’s net loss under the equity method of accounting of $1.2 million. The Company had no remaining basis in any of the investments held in MeiraGTx prior to the MeiraGTx IPO. Upon completion of the MeiraGTx IPO, the Company’s investment was diluted to a 13.0% ownership in MeiraGTx common stock and the Company no longer had the ability to exert significant influence over MeiraGTx. The Company discontinued the equ ity method of accounting for its investment in MeiraGTx on June 12, 2018 and determined that the remaining investment was an equity security accounted for in accordance with ASC 321 , Investments – Equity Securities, at the date th e investment no longer qualified for the equity method of accounting. ASC 321 requires the investment to be recorded at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. As the Company’s investment in MeiraGTx common stock had a readily determinable market value, the Company recorded an unrealized gain of $40.5 million for the three and six months ended June 30, 2018 related to the fair value of its ownership of common stock of MeiraGTx. As of June 30, 2019 and December 31, 2018, the Company maintained a 10.6% and 12.9% ownership, respectively, in the common stock of MeiraGTx with a fair value of $95.0 million and $34.1 million, respectively, recorded as a noncurrent in vestment in equity securities since depending on certain circumstances, the Company may, at times, be deemed to be an affiliate of MeiraGTx. The Company has recorded an unrealized gain on the MeiraGTx common stock investment of $34.1 million and $60.9 million for the three and six months ended June 30, 2019 , respectively. The investment in MeiraGTx is valued using Level 1 inputs , which includes quoted price s in active markets for identic al assets in accordance with the fair value hierarchy (Note 6). The Company has not realized any gains related to the investment in common stock of MeiraGTx. The Company was party to a TSA with MeiraGTx , which expired in April 2018. Upon expiration of the TSA, the Company continued to provide office space to MeiraGTx. On October 1, 2018, the Company and MeiraGTx entered into a sublease agreement , which is effective from October 1, 2018 for a period of two months and is automatically renewed on a monthly basis unless MeiraGTx provides 30 days ’ prior written notice. The Company’s accounting for this sublease as a lessor was not impacted by the adoption of the new leasing standard ASC 842 (Note 2). As part of the TSA and sublease agreement with MeiraGTx, the Company recognized $0.2 million and $0.3 million to other revenue during each of the three and six months ended June 30, 2019 and 2018 . The Company received cash payments of $0.3 million and $1.1 million, respectively, from MeiraGTx for the six months ended June 30, 2019 and 2018 . The Company ha d no amounts receivable from MeiraGTx at June 30, 2019 or December 31, 2018.

License Agreements

License Agreements	6 Months Ended
	Jun. 30, 2019
License Agreements [Abstract]
License Agreements	12. License Agreements The Company has entered into several license agreements for products currently under development. The Company’s license agreements are disclosed in the audited financial statements included in Item 8 of its Annual Report on Form 10-K for the year ended December 31, 2018 . Since the date of such financial statements, there have been no significant changes to the Company’s license agreements. Contingent License Agreement Milestones The Company may be obligated in future periods to make additional payments, which would become due and payable only upon the achievement of certain research and development, regulatory and approval milestones. The specific timing of such milestones cannot be predicted and depends upon future discretionary clinical developments as well as regulatory agency actions which cannot be predicted with certainty (including action which may never occur). These additional contingent milestone payments aggregate to $215.9 million at June 30, 2019 . Any payments made prior to FDA approval will be expensed as research and development. Payments made after FDA approval will be capitalized.  Further, under the terms of certain licensing agreements, the Company may be obligated to pay commercial milestones contingent upon the realization of sales revenues and sublicense revenues. Due to the long-range nature of such commercial milestones, they are neither probable at this time nor predictable, and consequently are not included in the additional contingent milestone payment amount. 

Share-based Compensation

Share-based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Compensation [Abstract]
Share-based Compensation	13. Share-based Compensation 2016 Equity Incentive Plan A total of 11,668,905 shares of the Company’s common stock were authorized and reserved for issuance under the Company’s 2016 Equity Incentive Plan, as amended (the “2016 Equity Plan”) at December 31, 2018. This reserve automatically increased to 16,194,138 on January 1, 2019 and will automatically increase each subsequent anniversary through January 1, 2025, by an amount equal to the smaller of (a) 4% of the number of shares of common stock issued and outstanding on the immediately preceding December 31, or (b) an amount determined by the Company’s board of directors. At June 30, 2019 , there were options to purchase an aggregate of 10,578,920 shares of common stock outstanding at a weighted average price of $5.80 per share under the 2016 Equity Plan. Total unrecognized compensation expense related to unvested options granted under the Company’s share-based compensation plan was $5.7 million and $6.8 million at June 30, 2019 and December 31, 2018 , respectively. That expense is expected to be recognized over a weighted average period of 1.3 years and 1.5 years as of June 30, 2019 and December 31, 2018 , respectively. The Company recorded share-based compensation expense under the 2016 Equity Plan of $ 4.1 million and $5.6 million for the six months ended June 30, 2019 and 2018 , respectively, and $1.9 million and $3.0 million for the three months ended June 30, 2019 and 2018 , respectively. The following table summarizes information about stock options outstanding, not including performance stock options, at June 30, 2019 and December 31, 2018 :    Options Outstanding  Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands)  Balance, December 31, 2018 9,764,539 $ 6.24 7.84 $ —  Granted 1,293,973 2.25  Exercised — —  Forfeited (479,592) 5.16  Balance, June 30, 2019 10,578,920 $ 5.80 7.92 $ —  Options vested and exercisable, June 30, 2019 5,798,171 $ 8.23 6.88 $ —  The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value calculated as the difference between the fair value of the Company’s common stock at June 30, 2019 ( $2.06 per share) and the exercise price, multiplied by the related in-the-money options that would have been received by the option holders had they exercised their options at the end of the period. This amount changes based on the fair value of the Company’s common stock. There were no options exercised during the six months ended June 30, 2019 and 2018 . There were 1,293,973 stock options granted during the six months ended June 30, 2019 with a weighted-average exercise price of $2.25 . During the six months ended June 30, 2018 , 80,924 stock options were granted with a weighted ‑average exercise price of $7.75 . The fair value of each stock option award, not including performance stock options, was estimated at the date of grant using the Black-Scholes option-pricing model and the assumptions noted in the following table:     Six Months Ended Six Months Ended  June 30, 2019 June 30, 2018  Weighted average fair value of grants $1.50 $2.30  Expected volatility 76.32% - 77.73% 72.94% - 75.14%  Risk-free interest rate 2.18% - 2.61% 2.44% - 2.75%  Expected life (years) 5.5 - 6.0 5.6 - 6.0  Expected dividend yield 0% 0%  Performance Awards On April 3, 2018 , the Company granted 1,597,500 nonqualified performance-based stock options ( the “Performance Options”) to certain executive officers (each, a “Grantee”) under the 20 16 Equity Plan, which represent the maximum number of Performance Options that may be earned if all three performance milestones (each, a “Performance Goal”) are achieved during the three -year period following the g rant d ate (the “Performance Period”). The Performance Options may be earned based on the achievement of three separate Performance Goals related to the Company’s operating and research and development activities during the Performance Period, subject to the Grantee’s employment through the achievement date. If no Performance Goals are achieved during the Performance Period, the Performance Options will be forfeited. Each Performance Option was granted with an exercise price of $4.06 per share and does not contain any voting rights. No other Performance Options have been granted under the 2016 Equity Plan. The weighted-average fair value of the Performance Options granted was $2.71 and was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions: risk-free interest rate of 2.67% , expected term of 6.0 years, expected volatility of 74.50% and a dividend rate of 0% . Compensation expense for the Performance Options is recognized on a straight-line basis over the awards’ requisite service period. The Performance Options vest upon the satisfaction of both a service condition and the satisfaction of one or more performance conditions, therefore the Company initially determined which outcomes are probable of achievement. The Company believes that the three-year service condition (explicit service period) and all three performance conditions (implicit service periods) will be satisfied. The requisite service period would be three years as that is the longest period of both the explicit service period and the implicit service periods. The first two performance conditions were satisfied during 2018 and the third performance condition is expected to be satisfied in the third quarter of 2019. During the year ended December 31, 2018, 307,500 Performance Options were forfeited. A total of 1,290,000 Performance Options are outstanding at both June 30, 2019 and December 31, 2018 with an exercise price of $4.06 per share and no intrinsic value. The weighted average remaining contractual life of outstanding Performance Options at June 30, 2019 was 8.8 years. At June 30, 2019 , there was $0.9 million of total unrecognized compensation expense related to unvested Performance Options, which is expected to be recognized over a weighted-average period of 1.5 years. As of June 30, 2019 , 430,002 Performance Options had vested and became exercisable during the second quarter of 2019 in accordance with the terms of the awards. S tock Appreciation Rights A total of 835,000 stock appreciation rights (“SARs”) were outstanding at both June 30, 2019 and December 31, 2018 , with an exercise price of $3.64 per share and no intrinsic value. The weighted average remaining contractual life of outstanding SARs at June 30, 2019 was 8.5 years. Compensation expense for SARs is recognized on a straight-line basis over the awards’ requisite service period. At June 30, 2019 , there was $1.0 million of total unrecognized compensation cost related to unvested SARs which is expected to be recognized over a weighted-average period of 1.4 years. At both June 30, 2019 and December 31, 2018 , 278,335 SARs had vested and no SARs ha d been exercised. 2 014 Long-term Incentive Plan ( the “LTIP”) A total of 9,750 units have been granted under the LTIP as of both June 30, 2019 and December 31, 2018 . The LTIP is payable upon the fair market value of the Company’s common stock exceeding 333% of the $6.00 grant price ( $20.00 ) per share prior to December 7, 2024. The holders of the LTIP awards have no right to demand a particular form of payment, and the Company reserves the right to make payment in the form of cash or common stock. No LTIP awards were exercisable or ha d been exercised at June 30, 2019 . 2016 Employee Stock Purchase Plan A total of 2,551,180 shares of the Company’s common stock were reserved for issuance under the 2016 Employee Stock Purchase Plan, as amended (the “2016 ESPP”) at December 31, 2018 . The Board elected not to increase the shares reserved for issuance under the 2016 ESPP on January 1, 2019. The Company issued 32,273 and 22,958 shares under the 2016 ESPP during the six months ended June 30, 2019 and 2018 , respectively. No meaningful compensation expense was recognized for the ESPP during the six months ended June 30, 2019 and 2018 .

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2019
Accrued Expenses [Abstract]
Accrued Expenses	14. Accrued Expenses Short-term accrued expenses at June 30, 2019 and December 31, 2018 include the following (in thousands):    June 30, December 31,  2019 2018  Commission payable $ 2,395 $ 2,395  Compensation, benefits and severance 2,541 3,848  Research and development 6,227 4,847  Other 2,804 2,418  Total accrued expenses $ 13,967 $ 13,508  Commission payable The Company recorded $2.4 million in accrued liabilities at both June 30, 2019 and December 31, 2018 relating to commissions to third parties for Class E redeemable convertible unit raises during 2014 and 2015. Compensation, benefits and severance Compensation, benefits and severance represent earned and unpaid employee wages and bonuses, as well as contractual severance to be paid to former employees. At June 30, 2019 and December 31, 2018 , these accrued expenses totaled $2.5 million and $3.8 million, respectively. A separation agreement with Dr. Samuel D. Waksal, which expired on February 8, 2019, contained severance payments and certain supplement conditional payments. The Company paid $0.1 million of severance payments during the six months ended June 30, 2019 related to amounts accrued at December 31, 2018 and has not recorded any expense related to these conditional payments as of June 30, 2019 , as none of the conditional payments were met as of the expiration of the agreement on February 8, 2019. Research and development The Company has contracts with third parties for the development of the Company’s product candidates. The timing of the expenses varies depending upon the timing of initiation of clinical trials and enrollment of patients in clinical trials. At June 30, 2019 and December 31, 2018 , accrued research and development expenses for which the Company has not yet been invoiced totaled $6.2 million and $4.8 million, respectively .

Commitments

Commitments	6 Months Ended
	Jun. 30, 2019
Commitments [Abstract]
Commitments	15. Commitments The Company’s commitments are disclosed in the audited financial statements included in Item 8 of the Annual Report on Form 10-K for the year ended December 31, 2018 . Since the date of such financial statements, there have been no material changes to the Company’s commitments. Further, the Company’s commitments related to lease agreements are disclosed in Note 8 .

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2019
Contingencies [Abstract]
Contingencies	16. Contingencies The Company has been subject to various legal proceedings that arise from time to time in the ordinary course of its business. Although the Company believes that the various proceedings brought against it have been without merit, and that it has adequate product liability and other insurance to cover any claims, litigation is subject to many factors which are difficult to predict and there can be no assurance that the Company will not incur material costs in the resolution of legal matters. Should the Company determine that any future obligations will exist, the Company will record expense equal to the amount which is deemed probable and estimable. The Company has no significant contingencies related to legal proceedings at June 30, 2019 .

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	17. Related Party Transactions The Company’s related party transactions are disclosed in the audited financial statements included in Item 8 of the Annual Report on Form 10-K for the year ended December 31, 2018 . Since the date of such financial statements, there have been no changes to the Company’s related party transactions other than those related to MeiraGTx (Note 11) .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Taxes [Abstract]
Income Taxes	18. Income Taxes The Company files a consolidated tax return for Kadmon Holdings, Inc. and its domestic subsidiaries and the required information returns for its international subsidiaries, all of which are wholly owned. Where permitted, the Company files combined state returns, but in some instances separate company returns for certain subsidiaries on a stand-alone basis are required. Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company’s deferred tax assets relate primarily to its net operating loss (“NOL”) carryforwards and other balance sheet basis differences. In accordance with ASC 740, “Income Taxes,” the Company recorded a valuation allowance to fully offset the gross deferred tax asset, because it is more likely than not that the Company will not realize future benefits associated with these deferred tax assets at June 30, 2019 and December 31, 2018 . The Tax Cuts and Jobs Act (the “ Tax Act”) was enacted in December 2017. The Tax Act reduces the U.S. federal corporate tax rate from 35 percent to 21 percent, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, creates new taxes on certain foreign earnings and reduces the orphan drug tax credit. In accordance with the Tax Act, the Company determined it necessary to reduce the recorded deferred tax liability by $0.6 million during the six months ended June 30, 2018 to allow naked credit deferred tax liabilities to be used as a source of taxable income in the future. This change in deferred tax liability was recognized as income tax benefit in the consolidated financial statements of operations for the three and six months ended June 30, 2018. There was no change in deferred tax liability for the three and six months ended June 30, 2019 and no income tax expense was recorded for the three and six months ended June 30, 2019 . At December 31, 2018, the Company had unused federal and state NOL carry forwards of $460.3 million and $404.3 million, respectively, that may be applied against future taxable income. The Company has fully reserved the deferred tax asset related to these NOL carry forwards as reflected in its consolidated financial statements. These carry forwards expire at various dates through December 31, 2037, with the exception of approximately $44.0 million of federal NOL carry forwards that will not expire. The 20-year limitation was eliminated for losses generated after January 1, 2018, giving the taxpayer the ability to carry forward losses i ndefinitely. However, NOL carry forwards arising after January 1, 2018, will now be limited to 80 percent of taxable income. The use of the Company’s NOL carryforwards may, however, be subject to limitations as a result of an ownership change. A corporation undergoes an “ownership change,” in general, if a greater than 50% change (by value) in its equity ownership by one or more five-percent stockholders (or certain groups of non-five-percent stockholders) over a three-year period occurs. After such an ownership change, the corporation’s use of its pre-change NOL carryforwards and other pre-change tax attributes to offset its post-change income is subject to an annual limitation determined by the equity value of the corporation on the date the ownership change occurs multiplied by a rate determined monthly by the Internal Revenue Service. This rate for April 2019 equals 2.20 percent. The Company experienced ownership changes under Section 382 of the Internal Revenue Code of 1986, as amended, in 2010, 2011 and 2016, but the Company did not reduce the gross deferred tax assets related to the NOL carryforwards because the limitations do not hinder the Company’s ability to potentially utilize all of the NOL carryforwards. The Company is likely to experience another ownership change in the future, possibly in 2019, as a result of shifts in stock ownership due to any future equity offerings. A renewed ownership change will likely materially and substantially reduce the Company’s ability to fully utilize the NOL carry forwards and, consequently, will likely reduce the gross deferred tax assets related to the NOL carry forwards. If an ownership change occurred and if the Comp any earned net taxable income, its ability to use the pre- change NOLs to offset U.S. federal taxable income would be subject to these limitations, which could potentially result in increased future tax liability compared to the tax liability the Company would incur if the use of NOL carr y forwards were not so limited. 

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2019
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company operates in one segment considering the nature of the Company’s products and services, class of customers , methods used to distribute its products and the regulatory environment in which the Company operates.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with GAAP. The consolidated financial statements include the accounts of Kadmon Holdings, Inc. and its domestic and international subsidiaries, all of which are wholly owned by Kadmon Holdings, Inc.
Interim Financial Statements	Interim Financial Statements The accompanying financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the Company’s opinion , the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the final results that ma y be expected for the year ending December 31, 2019. These unaudited financial statements should be read in conjunction with the audited financial statements included in Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates.
Critical Accounting Policies	Critical Accounting Policies The Company’s significant accounting policies are disclosed in the audited financial statements included in Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Since the date of such financial statements, there have been no changes to the Company’s significant accounting policies, other than those described below.
Accounting for Leases	Accounting for Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016 02, “Leases” (“ASC 842”) to enhance the transparency and comparability of financial reporting related to leasing arrangements. Under this new lease standard, most leases are required to be recognized on the balance sheet as right-of-use (“ROU”) assets and lease liabilities. Disclosure requirements have been enhanced with the objective of enabling financial statement use rs to assess the amount, timing and uncertainty of cash flows arising from leases. Prior to January 1, 2019, GAAP did not require lessees to recognize assets and liabilities related to operating leases on the balance sheet. The new standard establishes a ROU model that requires a lessee to recognize a ROU asset and corresponding lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the statement of operations as well as the reduction of the right of use asset. The Company has adopted the standard effective January 1, 2019 and has chosen to use the effective date as our date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods prior to January 1, 2019. The new standard provides a number of optional practical expedients in transition. The Company has elected to apply the ‘package of prac tical expedients’, which allow it to not reassess (i) whether existing or expired arrangements contain a lease, (ii) the lease classification of existing or expired leases, or (iii) whether previous initial direct costs would qualify for capitalization under the new lease standard. The Company has also elected to apply (i) the practical expedient , which allows it to not separate lease and non-lease components, for new leases entered into after adoption and (ii) the short-term lease exemption for all leases with an original term of less than 12 months, for purposes of applying the recognition and measurements requirements in the new standard. In preparation for adoption of the standard, the Company implemented internal controls to enable the preparation of financial information including the assessment of the impact of the standard. For the impact to the Company’s consolidated financial statement upon adoption of the new leasing standard, see Note 8 to the unaudited consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on specific facts and circumstances, the existence of an identified asset(s), if any, and the Company’s control over the use of the identified asset(s), if applicable. Operating lease liabilities and their corresponding ROU assets are recorded based on the present value of future lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, the Company will utilize the incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. As of the ASC 842 effective date, the Company’s incremental borrowing rate range d from approximately 4.0% - 5.6% based on the remaining lease term of the applicable leases. The Company has elected to combine lease and non-lease components as a single component. Operating leases are recognized on the balance sheet as ROU lease assets, lease liabilities current and lease liabilities non-current. Fixed rents are included in the calculation of the lease balances while variable costs paid for certain operating and pass-through costs are excluded. Lease expense is recognized over the expected term on a straight-line basis.
Revenue Recognition	Revenue Recognition The Company adopted FASB ASC 606, Revenue from Contracts with Customers (“ASC 606”), on January 1, 2018 using the modified retrospective method for all contracts not completed as of the date of adoption– i.e. by recognizing the cumulative effect of initially applying ASC 606 as an adjustment to the opening balance of stockholders’ equity at January 1, 2018. The Company recognizes revenue in accordance with ASC 606, the core principle of which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as the Company satisfies a performance obligation. Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the three and six months ended June 30, 2019 and 2018 :     Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Product sales $ 47 $ 161 $ 114 $ 435  Other revenue 179 198 353 357  Total revenue $ 226 $ 359 $ 467 $ 792 Product Sales The Company markets and distributes a portfolio of products, including ribavirin and tetrabenazine. These contracts typically include a single promise to deliver a fixed amount of product to the customer with payment due within 30 days of shipment. Revenues are recognized when control of the promised goods is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods. As is typical in the pharmaceutical industry, gross product sales are subject to a variety of deductions, primarily representin g rebates, chargebacks, returns and discounts to g overnment agencies, wholesalers and managed care organizations. These deductions represent management’s best estimates of the related reserves and, as such, judgment is required when estimating the impact of these sales deductions on gross sales for a reporting period. If estimates are not representative of the actual future settlement, results could be materially affected. Other Revenue O ther revenue generated by the Company is primarily related to a transition services agreement and sublease agreement with MeiraGTx Holdings plc (“MeiraGTx”) (Note 11). The Company performed various professional services under a transition services agreement ( the “TSA”) that supported MeiraGTx until the expiration of the TSA in April 2018. The Company continues to provide office space to MeiraGTx under a sublease agreement. The Company recognizes revenue related to transition services and sublease agreements as they are performed. Contract Balances The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. A receivable is recognized in the period the Company deliver s goods or provide s services or when its right to consideration is unconditional. The Company has not recognized any assets for costs to obtain or fulfill a contract with a customer as of June 30, 2019 . Transaction Price Allocated to Future Performance Obligations ASC 606 requires that the Company disclose the aggregate amount of a transaction price that is allocated to performance obligations that have not yet been satisfied as of June 30, 2019 . The guidance provides certain practical expedients that limit this requirement. The Company has various contracts that meet the following practical expedients provided by ASC 606: 1. The performance obligation is part of a contract that has an original expected duration of one year or less. 2. Revenue is recognized from the satisfaction of the performance obligations in the amount billable to the customer. 3. The variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation. The Company does no t have any performance obligations that have not yet been satisfied as of June 30, 2019 and therefore there is no transaction price allocated to future performance obligations under ASC 606.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2018, the FASB issued ASU No. 2018-18, “Collaborative Arrangements (Topic 808): Clarifying the Interaction Between Topic 808 and Topic 606”, which requires transactions in collaborative arrangements to be accounted for under ASC 606 if the counterparty is a customer for a good or service (or bundle of goods and services) that is a distinct unit of account. The ASU also preclude s entities from presenting consideration from transactions with a collaborator that is not a customer together with revenue recognized from contracts with customers. The ASU is effective for annual or interim periods beginning after December 15, 2019. Early adoption is permitted for entities that have adopted ASC 606. The Company is evaluating the impact of adopting this standard. In August 2018, the FASB issued ASU No. 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force)”, which requires customers in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in Accounting Standards Codification 350-40 to determine which implementation costs to capitalize as assets. This ASU is effective for annual or any interim periods beginning after December 15, 2019. The Company does not expect the standard to have a significant impact on its consolidated financial statements, as the Company’s cloud computing contracts are not material. In June 2018, the FASB issued ASU No. 2018-07, “Compensation – Stock Compensation”, which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non - employees, subject to specific exceptions. This ASU is effective for annual or any interim periods beginning after December 15, 2018. The Company adopted this standard on January 1, 2019, which did not have a significant impact on its consolidated financial statements as the fair value of the Company’s awards to non - employees is not material. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other”, which simplifies the subsequent measurement of goodwill by eliminating “Step 2” from the goodwill impairment test. Instead of performing Step 2 to determine the amount of an impairment charge, the fair value of a reporting unit will be compared with its carrying amount and an impairment charge will be recognized for the value by which the carrying amount exceeds the reporting unit’s fair value. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the standard to have a significant impact on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Summary of Significant Accounting Policies [Abstract]
Disaggregation of Revenue	   Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Product sales $ 47 $ 161 $ 114 $ 435  Other revenue 179 198 353 357  Total revenue $ 226 $ 359 $ 467 $ 792 

Net Income Per Share Attribut_2

Net Income Per Share Attributable To Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2019
Net Income per Share Attributable to Common Stockholders [Abstract]
Computation of Basic and Diluted Net Income (Loss) per Share Attributable to Common Stockholders	  Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Numerator – basic and diluted:  Net income available to common stockholders - basic $ 8,652 $ 21,014 $ 11,729 83  Effect of d ilution:  Warrants to purchase common stock — (179) — —  Convertible preferred stock — 491 — —  Net income available to common stockholders - basic and diluted $ 8,652 $ 21,326 $ 11,729 $ 83   Denominator – basic and diluted:  Weighted average common shares outstanding used to compute basic net income per share 129,080,221 85,004,107 127,713,099 81,844,677  Effect of dilution:  Options to purchase common stock 10,762 152,400 37,666 257,297  Stock appreciation rights — 69,333 — 114,425  Warrants to purchase common stock — 1,504,941 — —  Convertible preferred stock — 3,433,467 — —  Weighted average common shares outstanding used to compute diluted net income per share 129,090,983 90,164,248 127,750,765 82,216,399   Net income per share, basic $ 0.07 $ 0.25 $ 0.09 $ 0.00  Net income per share, diluted $ 0.07 $ 0.24 $ 0.09 $ 0.00 
Anti-dilutive Amounts Excluded From Calculation of Diluted Net Income (Loss) per Share	  Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Options to purchase common stock 11,468,920 7,395,342 10,574,947 5,795,842  Warrants to purchase common stock 11,999,852 1,328,452 11,999,852 11,999,852  Convertible preferred stock 3,285,596 — 3,285,596 3,433,467  Total shares of common stock equivalents 26,754,368 8,723,794 25,860,395 21,229,161 

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt [Abstract]
Debt Payable	   June 30, December 31,  2019 2018   Secured term debt due July 1, 2020 $ 28,046 $ 28,046  Total debt before debt discount 28,046 28,046  Less: Debt discount (378) (566)  Total debt payable $ 27,668 $ 27,480   Debt payable, current portion $ 4,500 $ —  Debt payable, long-term $ 23,168 $ 27,480 
Minimum Payments Required on Outstanding Balances	   2015 Credit Agreement  2019 $ —  2020 28,046  $ 28,046 
Interest Expense and Other Related Financing Costs	   Three Months Ended Six Months Ended  June 30, June 30,  2019 2018 2019 2018  Interest expense and other financing costs $ 843 $ 939 $ 1,680 $ 1,890  Amortization of deferred financing costs, debt discount and debt premium 93 399 188 913  Interest expense $ 936 $ 1,338 $ 1,868 $ 2,803 

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Financial Instruments [Abstract]
Fair Values of Financial Instruments	   Fair Value Measurement Using Significant Other Observable Inputs (Level 2)  June 30, December 31,  Description 2019 2018  Warrants $ 468 $ 524  Total $ 468 $ 524 
Rollforward of Level 2 Investments	   Significant Other Observable Inputs  (Level 2)  Balance at January 1, 2018 $ 1,952  Change in fair value of financial instruments (1,525)  Fair value of warrants modified in the Fifth Amendment 111  Exercise of warrants recorded as liability (14)  Balance at December 31, 2018 $ 524  Change in fair value of financial instruments (56)  Balance at June 30, 2019 $ 468 
Warrants Outstanding	   Warrants Weighted Average Exercise Price  Balance, December 31, 2018 11,999,852 $ 5.97  Granted — —  Exercised — —  Forfeited — —  Balance, June 30, 2019 11,999,852 $ 5.97 

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Inventories [Abstract]
Schedule of Inventories	   June 30, December 31,  2019 2018  Raw materials $ — $ —  Work-in-process 183 886  Finished goods, net 45 39  Total inventories $ 228 $ 925 

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Quantitative Infromation Regarding Leases	  Three Months Ended Six Months Ended  Lease Cost Classification June 30, 2019 June 30, 2019  Operating lease cost (a) SG&A expenses $ 1,154 $ 2,322  Variable lease cost SG&A expenses 262 631  Sublease income (b) Other revenue (177) (350)  Net Lease Cost $ 1,239 $ 2,603   Other Information  Operating cash flows paid for amounts included in the measurement of lease liabilities $ 1,150 $ 2,317  Operating lease liabilities arising from obtaining ROU assets 54 85   Weighted average remaining lease term (years) 5.9 5.9  Weighted average discount rate 4.1% 4.1%  (a) Includes short-term lease costs and finance lease costs, which are immaterial. (b) Includes sublease income related to MeiraGTx (Note 11) . 
Schedule Of Future Lease Payments	  Future Lease Payments Operating Leases Finance Leases  2019 $ 2,449 $ 44  2020 4,798 48  2021 4,902 6  2022 4,832 —  2023 4,153 —  Thereafter 7,732 —  Total Lease Payments $ 28,866 $ 98   Less: Imputed Interest (3,463) (10)  Total Lease Liabilities $ 25,403 $ 88 
Future Minimum Rental Payments Under Noncancellable Leases	  Year ending December 31, Amount  2019 $ 4,672  2020 4,204  2021 4,177  2022 4,286  2023 4,153  Thereafter 7,731  Total $ 29,223 

Fixed Assets (Tables)

Fixed Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Fixed Assets [Abstract]
Fixed Assets	   Useful Lives June 30, December 31,  (Years) 2019 2018   Leasehold improvements 4 -8 $ 10,380 $ 10,187  Office equipment and furniture 3 -15 1,289 1,529  Machinery and laboratory equipment 3 -15 3,446 3,247  Software 1 -5 3,972 3,831  Construction-in-progress ̶̶̶̶ 54 45  19,141 18,839  Less accumulated depreciation and amortization (15,981) (15,185)  Fixed assets, net $ 3,160 $ 3,654 

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Compensation [Abstract]
Stock Options Outstanding	   Options Outstanding  Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands)  Balance, December 31, 2018 9,764,539 $ 6.24 7.84 $ —  Granted 1,293,973 2.25  Exercised — —  Forfeited (479,592) 5.16  Balance, June 30, 2019 10,578,920 $ 5.80 7.92 $ —  Options vested and exercisable, June 30, 2019 5,798,171 $ 8.23 6.88 $ — 
Weighted-average Fair Value of Stock Option Awards Granted	   Six Months Ended Six Months Ended  June 30, 2019 June 30, 2018  Weighted average fair value of grants $1.50 $2.30  Expected volatility 76.32% - 77.73% 72.94% - 75.14%  Risk-free interest rate 2.18% - 2.61% 2.44% - 2.75%  Expected life (years) 5.5 - 6.0 5.6 - 6.0  Expected dividend yield 0% 0% 

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2019
Accrued Expenses [Abstract]
Short-term Accrued Expenses	   June 30, December 31,  2019 2018  Commission payable $ 2,395 $ 2,395  Compensation, benefits and severance 2,541 3,848  Research and development 6,227 4,847  Other 2,804 2,418  Total accrued expenses $ 13,967 $ 13,508 

Organization (Narrative) (Detai

Organization (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	Apr. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Organization [Abstract]
Stock issued, shares		13,778,705
Accumulated deficit		$ (257,914)	$ (269,643)
Working capital		58,900
Cash and cash equivalents		$ 86,182	$ 94,740	$ 131,470
Common stock issued	2,538,100	129,634,540	113,130,817
Price per share of common stock	$ 2.70	$ 2.17
Private placement, amount authorized for sale		$ 40,000
Proceeds from private placement, gross	$ 6,900	29,900
Proceeds from private placement	6,700	29,000
Private placement, commisions payable	$ 200	$ 900

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details)	6 Months Ended
	Jun. 30, 2019segment
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments	1
Standard payment term	30 days
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Incremental borrowing rate	4.00%
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Incremental borrowing rate	5.60%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 226	$ 359	$ 467	$ 792
Net Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues	47	161	114	435
Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 179	$ 198	$ 353	$ 357

Stockholders_ Equity (Narrative

Stockholders’ Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Apr. 01, 2016
Equity [Line Items]
Unit price						$ 12
Accrued dividends on preferred stock			$ 818	$ 785
Common stock, shares authorized	400,000,000		400,000,000		200,000,000
Common stock, par value	$ 0.001		$ 0.001		$ 0.001
Convertible Preferred Stock [Member]
Equity [Line Items]
Preferred stock outstanding	28,708		28,708		30,000
Convertible preferred stock rate			5.00%
Liquidation preference	$ 33,100		$ 33,100
Beneficial conversion feature, discount percentage			20.00%
Shares converted	1,292
Accrued dividends on preferred stock	$ 400	$ 400	$ 800	800
Deemed dividends on preferred stock	$ 100	$ 400	$ 200	$ 800
Common Stock [Member]
Equity [Line Items]
Shares issued upon conversion	154,645

Net Income per Share Attribut_3

Net Income per Share Attributable to Common Stockholders (Computation of Basic and Diluted Net Income (Loss) per Share Attributable to Common Stockholders) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net Income per Share Attributable to Common Stockholders [Abstract]
Net income available to common stockholders - basic	$ 8,652	$ 21,014	$ 11,729	$ 83
Warrants to purchase common stock		(179)
Convertible preferred stock		491
Net income available to common stockholders - basic and diluted	$ 8,652	$ 21,326	$ 11,729	$ 83
Weighted average common shares outstanding used to compute basic net income per share	129,080,221	85,004,107	127,713,099	81,844,677
Options to purchase common stock	10,762	152,400	37,666	257,297
Stock appreciation rights		69,333		114,425
Warrants to purchase common stock		1,504,941
Convertible preferred stock		3,433,467
Weighted average common shares outstanding used to compute diluted net income per share	129,090,983	90,164,248	127,750,765	82,216,399
Net income per share, basic	$ 0.07	$ 0.25	$ 0.09	$ 0
Net income per share, diluted	$ 0.07	$ 0.24	$ 0.09	$ 0

Net Income per Share Attribut_4

Net Income per Share Attributable to Common Stockholders (Anti-dilutive Amounts Excluded From Calculation of Diluted Net Income (Loss) per Share) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents	26,754,368	8,723,794	25,860,395	21,229,161
Options To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents	11,468,920	7,395,342	10,574,947	5,795,842
Warrants To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents	11,999,852	1,328,452	11,999,852	11,999,852
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents	3,285,596		3,285,596	3,433,467

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended	6 Months Ended
	Aug. 31, 2015USD ($)item	Jun. 30, 2019USD ($)
2015 Credit Agreement, Fifth Amendment [Member]
Debt Instrument [Line Items]
Monthly principal payments		$ 750,000
Secured Term Debt [Member] | 2015 Credit Agreement [Member]
Debt Instrument [Line Items]
Total borrowings	$ 35,000,000
Maturity date		Jul. 1, 2020
Number of lenders | item	2
Secured Term Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | 2015 Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument spread	9.375%
Secured Term Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | 2015 Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument spread	1.00%

Debt (Debt Payable) (Details)

Debt (Debt Payable) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt before debt discount	$ 28,046	$ 28,046
Less: Debt discount	(378)	(566)
Total debt payable	27,668	27,480
Debt payable, current portion	4,500
Debt payable, long-term	23,168	27,480
Secured Term Debt Due July 1, 2020 [Member] | Secured Term Debt [Member]
Debt Instrument [Line Items]
Total debt before debt discount	$ 28,046	$ 28,046
Maturity date	Jul. 1, 2020

Debt (Minimum Payments Required

Debt (Minimum Payments Required on Outstanding Balances) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt payable	$ 27,668	$ 27,480
2015 Credit Agreement [Member]
Debt Instrument [Line Items]
2019
2020	28,046
Total debt payable	$ 28,046

Debt (Interest Expense and Othe

Debt (Interest Expense and Other Related Financing Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt [Abstract]
Interest expense and other financing costs	$ 843	$ 939	$ 1,680	$ 1,890
Amortization of deferred financing costs, debt discount and debt premium	93	399	188	913
Interest expense	$ 936	$ 1,338	$ 1,868	$ 2,803

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) - USD ($)	1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 30, 2018	Mar. 31, 2017	Aug. 31, 2016	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2015	Dec. 31, 2018
Financial Instruments [Line Items]
Warrants fair value				$ 500,000		$ 500,000
Long-term secured term debt fair value				23,200,000		23,200,000			$ 27,500,000
Short term secured debt				$ 4,500,000		$ 4,500,000
Warrants outstanding, shares				11,999,852		11,999,852			11,999,852
2015 Credit Agreement [Member]
Financial Instruments [Line Items]
Strike price			$ 10.20	$ 4.50		$ 4.50
Common units converted to warrants			617,651
Change in fair value of warrant				$ (300,000)	$ (200,000)	$ (100,000)	$ 100,000
Warrants to purchase								$ 6,300,000
Warrants outstanding, shares				88,238		88,238
Warrants exercised				0		0			0
Expected term				3 years 2 months 12 days		3 years 2 months 12 days
2015 Credit Agreement [Member] | Expected Dividend YIeld [Member]
Financial Instruments [Line Items]
Warrants and Rights Outstanding, Measurement Input				0		0
2015 Credit Agreement [Member] | Expected Volatility [Member]
Financial Instruments [Line Items]
Warrants and Rights Outstanding, Measurement Input				73.4		73.4
2015 Credit Agreement [Member] | Risk Free Interest Rate [Member]
Financial Instruments [Line Items]
Warrants and Rights Outstanding, Measurement Input				1.7		1.7
2015 Credit Agreement, Fifth Amendment [Member]
Financial Instruments [Line Items]
Strike price				$ 3.30		$ 3.30
Monthly principal payments						$ 750,000
Warrants outstanding, shares				529,413		529,413
Other Warrants [Member]
Financial Instruments [Line Items]
Warrants issued		2,707,138
Strike price		$ 4.50
Change in fair value of warrant					$ (300,000)		$ (700,000)
Warrants exercised	119,047
Proceeds from warrants exercises	$ 500,000
Warrants expired	2,588,091

Financial Instruments (Fair Val

Financial Instruments (Fair Values of Financial Instruments) (Details) - Significant Other Observable Inputs (Level 2) [Member] - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Financial Instruments [Line Items]
Total financial instruments	$ 468	$ 524
Warrants [Member]
Financial Instruments [Line Items]
Total financial instruments	$ 468	$ 524

Financial Instruments (Rollforw

Financial Instruments (Rollforward of Level 2 Investments) (Details) - Significant Other Observable Inputs (Level 2) [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Financial Instruments [Line Items]
Balance	$ 524	$ 1,952
Change in fair value of financial instruments	(56)	(1,525)
Fair value of warrants modified in the Amendment		111
Exercise of warrants recorded as liability		(14)
Balance	$ 468	$ 524

Financial Instruments (Warrants

Financial Instruments (Warrants Outstanding) (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Financial Instruments [Abstract]
Warrants, Outstanding | shares	11,999,852
Warrants, Granted | shares
Warrants, Exercised | shares
Warrants, Forfeited | shares
Warrants, Outstanding | shares	11,999,852
Warrants, Weighted Average Exercise Price, Outstanding | $ / shares	$ 5.97
Warrants, Weighted Average Exercise Price, Granted | $ / shares
Warrant, Weighted Average Exercise Price, Exercised | $ / shares
Warrants, Weighted Average Exercise Price, Forfeited | $ / shares
Warrants, Weighted Average Exercise Price, Outstanding | $ / shares	$ 5.97

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Inventory [Line Items]
Reserve for expirable inventory	$ 3,000		$ 3,000		$ 2,200
Expensed inventory	932	$ 98	932	$ 245
Work-in-process inventory	183		183		886
KD034 [Member]
Inventory [Line Items]
Work-in-process inventory	$ 200		$ 200		$ 900

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventories [Abstract]
Work-in-process	$ 183	$ 886
Finished goods, net	45	39
Total inventories	$ 228	$ 925

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)item	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Right of use assets	$ 21,231	$ 21,231
Lease liability	25,403	25,403
Cumulative effect of change in accounting principle - ASC 606 adoption				$ 24,017
Current lease liability	3,825	3,825
Noncurrent lease liability	21,666	21,666
Operating lease cost		$ 300
New York Property [Member]
Lessee, Lease, Description [Line Items]
Number of lease amendments | item		6
New York Property [Member] | Letter of Credit [Member]
Lessee, Lease, Description [Line Items]
Secured letter of credit	$ 2,000	$ 2,000
Warrendale, Pennsylvania Property [Member]
Lessee, Lease, Description [Line Items]
Number of renewal options | item		2
Term of renewal option	5 years	5 years
Operating lease cost	$ 100
Cambridge, Massachusetts And Princeton, New Jersey Properties [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost	100	$ 200
Cambridge, Massachusetts And Princeton, New Jersey Properties [Member] | Letter of Credit [Member]
Lessee, Lease, Description [Line Items]
Secured letter of credit	$ 100	$ 100
Accounting Standards Update 2016-02 [Member]
Lessee, Lease, Description [Line Items]
Right of use assets			$ 22,700
Lease liability			27,000
Cumulative effect of change in accounting principle - ASC 606 adoption			$ 4,300

Leases (Quantitative Infromatio

Leases (Quantitative Infromation Regarding Leases) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)		Jun. 30, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 1,154	[1]	$ 2,322	[1]
Variable lease cost	262		631
Sublease Income	(177)	[2]	(350)	[2]
Net Lease Cost	1,239		2,603
Operating cash flows paid for amounts included in the measurement of lease liabilities	1,150		2,317
Operating lease liabilities arising from obtaining ROU assets	$ 54		$ 85
Weighted average remaining lease term (years)	5 years 10 months 24 days		5 years 10 months 24 days
Weighted average discount rate	4.10%		4.10%
[1]	Includes short-term lease costs and finance lease costs, which are immaterial.
[2]	Includes sublease income related to MeiraGTx (Note 11).

Leases (Schedule Of Future Leas

Leases (Schedule Of Future Lease Payments) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating Leases
2019	$ 2,449
2020	4,798
2021	4,902
2022	4,832
2023	4,153
Thereafter	7,732
Total Lease Payments	28,866
Less: Imputed Interest	(3,463)
Total Lease Liabilities	25,403
Finance Leases
2019	44
2020	48
2021	6
Total Lease Payments	98
Less: Imputed Interest	(10)
Total Lease Liabilities	$ 88
2019		$ 4,672
2020		4,204
2021		4,177
2022		4,286
2023		4,153
Thereafter		7,731
Total		$ 29,223

Fixed Assets (Narrative) (Detai

Fixed Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Fixed Assets [Abstract]
Depreciation and amortization of fixed assets	$ 400	$ 400	$ 907	$ 702
Unamortized computer software costs	500		500		$ 700
Amortization of computer software costs	$ 100	$ 100	$ 200	$ 100

Fixed Assets (Fixed Assets) (De

Fixed Assets (Fixed Assets) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 19,141	$ 18,839
Less accumulated depreciation and amortization	(15,981)	(15,185)
Fixed assets, net	3,160	3,654
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	10,380	10,187
Office Equipment and Furniture [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	1,289	1,529
Machinery and Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	3,446	3,247
Software [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	3,972	3,831
Construction-in-progress [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 54	$ 45
Minimum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Useful Lives (Years)	4 years
Minimum [Member] | Office Equipment and Furniture [Member]
Property, Plant and Equipment [Line Items]
Useful Lives (Years)	3 years
Minimum [Member] | Machinery and Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Useful Lives (Years)	3 years
Minimum [Member] | Software [Member]
Property, Plant and Equipment [Line Items]
Useful Lives (Years)	1 year
Maximum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Useful Lives (Years)	8 years
Maximum [Member] | Office Equipment and Furniture [Member]
Property, Plant and Equipment [Line Items]
Useful Lives (Years)	15 years
Maximum [Member] | Machinery and Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Useful Lives (Years)	15 years
Maximum [Member] | Software [Member]
Property, Plant and Equipment [Line Items]
Useful Lives (Years)	5 years

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Goodwill [Abstract]
Change in goodwill	$ 0	$ 0

Investment in MeiraGTx (Narrati

Investment in MeiraGTx (Narrative) (Details) - USD ($)	Jun. 13, 2018	Jun. 12, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 12, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Apr. 30, 2019
Investment Holdings [Line Items]
Stock issued, shares						13,778,705
Sale of Stock, Price Per Share			$ 2.17			$ 2.17			$ 2.70
Ownership percentage	13.00%
Unrealized gain on equity securities			$ 34,110,000	$ 40,508,000		$ 60,938,000	$ 40,508,000
Accounts receivable, net			699,000			699,000		$ 1,690,000
License Agreement, MeiraGTx Ltd. [Member]
Investment Holdings [Line Items]
Equity method investment, gross profit (loss)					$ 1,200,000
MeiraGTx Ltd. [Member]
Investment Holdings [Line Items]
Equity method investment, fair value			95,000,000			$ 95,000,000		$ 34,100,000
Stock issued, shares		5,000,000
Sale of Stock, Price Per Share		$ 15			$ 15
Ownership percentage						10.60%		12.90%
Unrealized gain on equity securities			34,100,000			$ 60,900,000	40,500,000
Service revenue to license			200,000	$ 200,000		300,000	300,000
Cash payments for service revenue						300,000	$ 1,100,000
Accounts receivable, net			$ 0			$ 0		$ 0

License Agreements (Narrative)

License Agreements (Narrative) (Details) $ in Millions	Jun. 30, 2019USD ($)
License Agreements [Abstract]
Contingent milestone payments	$ 215.9

Share-based Compensation (Narra

Share-based Compensation (Narrative) (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)item$ / sharesshares	Jun. 30, 2018USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Apr. 01, 2016$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit price | $ / shares						$ 12
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period			3 years
Number of performance goals | item			3
Options To Purchase Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, options granted			1,293,973	80,924
Weighted average exercise price of options granted during the period (per share) | $ / shares			$ 2.25	$ 7.75
Share-based compensation, options outstanding, weighted average remaining contractual term (years)			7 years 11 months 1 day
Share based compensation, options granted, aggregate intrinsic value | $
Options exercised
Weighted average grant date fair value of options granted during the period (per share) | $ / shares			$ 1.50	$ 2.30
Expected dividend yield			0.00%	0.00%
Options outstanding	10,578,920		10,578,920		9,764,539
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $	$ 1,000,000		$ 1,000,000
Weighted average period for recognition of compensation expense			1 year 4 months 24 days
Share-based compensation, options outstanding, weighted average remaining contractual term (years)			8 years 6 months
Share based compensation, options granted, aggregate intrinsic value | $	$ 0		$ 0
Exercise price | $ / shares	$ 3.64		$ 3.64
Options vested			278,335		278,335
Options exercised			0		0
Options outstanding	835,000		835,000		835,000
2016 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in authorized shares as a percentage of common stock issued			4.00%
Shares authorized for issuance	16,194,138		16,194,138		11,668,905
Unrecognized compensation expense | $	$ 5,700,000		$ 5,700,000		$ 6,800,000
Weighted average period for recognition of compensation expense			1 year 3 months 18 days		1 year 6 months
Share based compensation, options granted			10,578,920
Weighted average exercise price of options granted during the period (per share) | $ / shares			$ 5.80
Stock compensation expense | $	1,900,000	$ 3,000,000	$ 4,100,000	$ 5,600,000
2016 Equity Incentive Plan [Member] | Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $	900,000		$ 900,000
Weighted average period for recognition of compensation expense			1 year 6 months
Share based compensation, options granted					1,597,500
Weighted average exercise price of options granted during the period (per share) | $ / shares					$ 4.06
Share-based compensation, options outstanding, weighted average remaining contractual term (years)			8 years 9 months 18 days
Share based compensation, options granted, aggregate intrinsic value | $	$ 0		$ 0
Exercise price | $ / shares	$ 4.06		$ 4.06
Options vested			430,002
Weighted average fair value of grants | $ / shares			$ 2.71
Expected dividend yield			0.00%
Expected life (years)			6 years
Risk-free interest rate			2.67%
Volatility			74.50%
Options forfeited					307,500
Options outstanding	1,290,000		1,290,000
Number of performance goals | item			3
Performance period			3 years
2014 Long-Term Incentive Plan (“LTIP”) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercised			0
Equity instruments granted			9,750		9,750
Equity instruments base price | $ / shares			$ 6
Equity instrument payable, common stock value percent above grant price			333.00%
Equity instrument payable, common stock value | $ / shares			$ 20
2016 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance					2,551,180
Share based compensation, options granted			32,273	22,958
Stock compensation expense | $			$ 0	$ 0
Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit price | $ / shares	$ 2.06		$ 2.06
Minimum [Member] | Options To Purchase Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)			5 years 6 months	5 years 7 months 6 days
Risk-free interest rate			2.18%	2.44%
Maximum [Member] | Options To Purchase Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)			6 years	6 years
Risk-free interest rate			2.61%	2.75%

Share-based Compensation (Stock

Share-based Compensation (Stock Options Outstanding) (Details) - Options To Purchase Common Stock [Member] - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Units, Beginning Balance	9,764,539
Options Outstanding, Units, Granted	1,293,973	80,924
Options Outstanding, Units, Exercised
Options Outstanding, Units, Forfeited	(479,592)
Options Outstanding, Units, Ending Balance	10,578,920		9,764,539
Options Vested and Exercisable, Units	5,798,171
Options Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 6.24
Options Outstanding, Weighted Average Exercise Price, Granted	2.25	$ 7.75
Options Outstanding, Weighted Average Exercise Price, Exercised
Options Outstanding, Weighted Average Exercise Price, Forfeited	5.16
Options Outstanding, Weighted Average Exercise Price, Ending Balance	5.80		$ 6.24
Options Vested and Exercisable, Weighted Average Exercise Price	$ 8.23
Options Outstanding, Weighted Average Remaining Contractual Term (years)	7 years 11 months 1 day
Options Vested and Exercisable, Weighted Average Remaining Contractual Term (years)	6 years 10 months 17 days		7 years 10 months 2 days
Options Outstanding, Aggregate Intrinsic Value

Share-based Compensation (Weigh

Share-based Compensation (Weighted-average Fair Value of Stock Option Awards Granted) (Details) - Options To Purchase Common Stock [Member] - $ / shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants	$ 1.50	$ 2.30
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	76.32%	72.94%
Risk-free interest rate	2.18%	2.44%
Expected life (years)	5 years 6 months	5 years 7 months 6 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	77.73%	75.14%
Risk-free interest rate	2.61%	2.75%
Expected life (years)	6 years	6 years

Accrued Expenses (Narrative) (D

Accrued Expenses (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Short-Term Accrued Expenses [Line Items]
Stock issued, shares	13,778,705
Severance expense	$ 2,500	$ 3,800
Research and development	6,227	4,847
Board of Directors Chairman [Member]
Short-Term Accrued Expenses [Line Items]
Severance cost	100
Third Party Investors [Member] | 2014 Stock Issuance [Member] | Class E Redeemable Convertible Units [Member]
Short-Term Accrued Expenses [Line Items]
Accrued liabilities current, commissions payable	$ 2,400	$ 2,400

Accrued Expenses (Short-term Ac

Accrued Expenses (Short-term Accrued Expenses) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accrued Expenses [Abstract]
Commission payable	$ 2,395	$ 2,395
Compensation, benefits and severance	2,541	3,848
Research and development	6,227	4,847
Other	2,804	2,418
Total accrued expenses	$ 13,967	$ 13,508

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Line Items]
Income tax benefit	$ 0	$ (562,000)	$ 0	$ (562,000)
Change in deferred tax liability	$ 0		$ 0
U.S. federal corporate tax rate			21.00%			35.00%
Tax Cuts and Jobs Act of 2017, Deferred Income Tax Benefit				$ 600,000
Federal [Member]
Income Tax Disclosure [Line Items]
Net operating loss carryforwards					$ 460,300,000
Operating loss carryforwards, no expiration					44,000,000
State [Member]
Income Tax Disclosure [Line Items]
Net operating loss carryforwards					$ 404,300,000

Uncategorized Items - kdmn-2019

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 2,116,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 2,116,000